X went down, a SpaceX rocket exploded, Tesla stock plummeted. Musk’s companies have had it rough
CNN
Elon Musk spent the weekend with President Donald Trump at Mar-a-Lago, getting a round-trip ride on Air Force One. While Musk has spent an increasing amount of time with Trump, three of his companies are having a rough go.
Elon Musk spent the weekend with President Donald Trump at Mar-a-Lago, getting a round-trip ride on Air Force One. While Musk has spent an increasing amount of time with Trump, three of his companies are having a rough go. His X social media platform was down for much of the day Monday; Tesla shares plunged 15% and erased the last of their post-Election Day gains; and SpaceX continued to struggle with the aftermath of yet another rocket explosion. That’s taking a toll on Musk’s fortune: He lost $29 billion in net worth on Monday alone, according to the Bloomberg Billionaires Index. Musk has ramped up his visibility in politics and government, leading the new Department of Government Efficiency in what fans call efforts to curtail government fraud and critics call an unelected takeover and slash-and-burn. Meanwhile, his companies have struggled. In an interview with Fox News Monday, Musk acknowledged that he runs his companies “with great difficulty” while also working for the Trump administration. For a proponent of “hardcore” work up to 16 hours a day, the slump in his business interests points to a fundamental truth: No matter how in political favor their leadership, companies still need to be run – and preferably run well.
US stock futures fell Monday after President Donald Trump said the US economy would see “a period of transition” and refused to rule out a recession, in an interview that aired Sunday.
President Donald Trump did not totally reverse the 25% tariffs he enacted earlier this month on just about every Mexican and Canadian good shipped to the United States.
Workers and executives in the wind industry are deeply worried as the Trump administration has moved to bring the once-booming business to a standstill.
America’s nearly five-year economic boom is starting to show its age.
A one-day strike by workers at 13 German airports, including the Frankfurt and Munich hubs and all the country’s other main destinations, caused the cancelation of most flights on Monday.
Consumer prices in China have plunged to their lowest level in more than a year, highlighting persistent deflationary pressures in the world’s second-largest economy.
Canada’s next leader is a relative political newcomer, coming instead from a decades-long career in finance where he steered governments through major global crises and periods of upheaval – experience he’s hoping to now leverage as he prepares to take over from Prime Minister Justin Trudeau.
Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up” and would not predict whether the United States will have a recession.
Tired of subway delays? The MTA wants to fix that by strapping Google smartphones to New York trains
Google partnered with the MTA on a pilot program that involved using sounds recorded on smartphones attached to trains to detect track issues before they occur.
Bad news about the US economy travels fast. But examples of a slowing economy are potentially being blown out proportion.
Amid the tariffs, threats of annexation and other chaos Canada’s neighbors to the south are igniting, surviving the next four years is only possible with a daily beer.
Steve Harvey and Scarlett Johansson are among the celebrities advocating for legislation and penalties for creators of deepfake scams and the platforms hosting them.
The Trump White House recently announced a project that the crypto industry loves, skeptics hate, and that most people, reasonably, don’t really care about: a “bitcoin strategic reserve.”