&w=3840&q=100)
Trump acknowledges Elon Musk's apology after spat over 'Big Beautiful Bill'
US President Donald Trump has acknowledged and appreciated an apology issued by tech billionaire Elon Musk following their recent public dispute, White House Press Secretary Karoline Leavitt confirmed on Wednesday (local time).
At a press briefing, Leavitt said, 'President Trump is appreciative of Elon Musk's apology.' She was referring to last week's online feud between the two over the US administration's ambitious spending bill, popularly known as the 'One Big Beautiful Bill'.
The spat unfolded on social media platform X, where Musk initially criticised the bill, triggering a sharp rebuke from Trump. The Tesla CEO later appeared to extend an olive branch, posting on X, 'I regret some of my posts about President Donald Trump last week. They went too far.'
Backchannel diplomacy and reconciliation efforts
According to a CNN report, Musk placed a brief call to Trump on Monday night, ahead of his public apology on X. The report noted that the call lasted only moments but followed a series of high-level backchannel efforts by White House officials and Trump allies.
Vice President JD Vance and Chief of Staff Susie Wiles had reportedly spoken with Musk on June 6, attempting to defuse tensions and encourage reconciliation. During the call, the trio discussed the feud and potential ways to ease the political fallout.
It was previously reported that the White House advised Trump not to criticise Musk publicly and tried arranging a call between the estranged allies.
Fallout over the 'One Big Beautiful Bill'
The row between Trump and Musk erupted last week after Musk, in his capacity as head of the Department of Government Efficiency (DOGE), sharply criticised the administration's sweeping economic legislation. Musk's resignation from DOGE soon followed.
Trump, reacting during an Oval Office Q&A, expressed his disappointment and hinted at reviewing federal contracts involving Musk's companies. 'We've done a lot for Elon. I don't think he remembers that,' Trump said at the time.
In response, Musk took to X to defend his position, posting a flurry of comments aimed at the bill and Trump's leadership.
SpaceX threat and potential fallout
As the exchange escalated, Musk announced plans to decommission SpaceX's Dragon spacecraft, currently the only US-operated vehicle capable of ferrying astronauts to the International Space Station. The move was widely interpreted as a retaliatory warning amid Trump's threats to cancel federal contracts.
Musk's companies—Tesla, SpaceX, and Starlink—play key roles in US government programmes ranging from defence communications to civilian space exploration. The possibility of a rift between the administration and its most prominent tech contractor alarmed both lawmakers and agency officials.
Republican lawmakers step in
Over the past week, Republican lawmakers have reportedly reached out to Musk in private, urging him to support the spending bill and tone down public criticisms. Several of them view Musk as a crucial ally in advancing the administration's innovation and infrastructure goals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
41 minutes ago
- Time of India
Global EV sales rise in May as China hits 2025 peak -Rho Motion
Global sales of electric and plug-in hybrid vehicles rose 24% in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Electric vehicle sales in China surpassed over one million units in a single month for the first time this year, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets. BYD's exports to Mexico and Southeast Asia, along with Uzbekistan, have significantly boosted sales in these regions, Rho Motion data manager Charles Lester said. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand, he added. WHY IT'S IMPORTANT Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla's Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. President Donald Trump's stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the U.S., tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed. Sales in China grew more than 24% from the same month last year to 1.02 million vehicles. Europe posted a 36.2% increase to 0.33 million units, while North American sales edged up just 7.5% to 0.16 million. Sales in the rest of the world rose 38% to 0.15 million vehicles. KEY QUOTE "The story this month with global vehicle sales is the continued chasm between Chinese market growth versus the faltering market in North America," Charles Lester said.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Stocks to Watch Today, June 13: OMCs, IndiGo, Genus Power, Dixon, Autos
Stocks to Watch Today, Friday, June 13, 2025: Indian stock markets are looking to open lower on Friday, June 13. Investor sentiment took a hit this morning after Israel launched air strikes against Iran, potentially hitting the country's nuclear facilities. According to reports, US President Donald Trump was informed ahead of Israel's plans ahead of the strikes, but the United States did not participate in the military operation. At 8:00 AM, GIFT Nifty was trading 257 points lower at 24,680 level. Catch Stock Market LIVE Updates Today LIVE Meanwhile, here is a list of stocks to watch today: Oil stocks: Brent crude and US WTI crude futures soared 11 per cent each on Friday after Israel launched a series of airstrikes against Iran's nuclear facilities this morning. Brent crude is at $76.8/barrel, while US WTI is at $75.5/barrel. Sectors using oil as one of the key inputs, such as oil marketing companies, aviation, tyres, paints, etc will be on radar today. Genus Power share price: According to reports, Chiswick Investment Pte. could sell 3.6 per cent stake in Genus Power Infrastructures via block deals. The affiliate of Singapore sovereign wealth fund has an option to increase the sale by an additional 2.28 per cent. The floor price has been set at ₹360 per share. Auto Stocks: US President Donald Trump, said on Thursday, that he may raise auto tariffs very soon and "in not so distant future" in a bid to spur domestic manufacturing. The Trump administration already levies 25 per cent tariffs on imported automobiles. Dixon Technologies share price: The company has entered into a binding term sheet to form a 50:50 joint venture with Signify Innovations India to manufacture lighting products and accessories as an original equipment manufacturer (OEM). The JV aims to enhance execution quality and strengthen Dixon's position in the lighting ecosystem. Canara Bank share price: The company will raise capital worth ₹9,500 crore via debt instruments in FY26. Torrent Power share price: The company's subsidiary, Torrent Green Energy, has won two Letter of Awards to build 300 Mw wind power projects under SECI's Tranche XVIII at ₹3.97/unit tariff. The ₹2,650??'crore project boosts its renewables pipeline to 3.3 Gw. NBCC share price: NBCC (India) Limited has been awarded work orders for the construction of Navodaya Vidyalaya Samiti in four states, including Arunachal Pradesh, Manipur, and Assam. The total order costs ₹518.5 crore. Jubilant Pharmova share price: The company has approved to sell and transfer its active pharmaceutical ingredient (API) business to its wholly-owned subsidiary, Jubilant Biosys Ltd, on a slump sale basis. Crompton Greaves Consumer Electricals share price: The company has secured a Letter of Award from Maharashtra Energy Development Agency (MEDA) to supply and install 4,500 off??'grid solar pumping systems in Maharashtra. This ₹100.68-crore order expands Crompton's presence in rural electrification. DCM Shriram share price: The Board of Directors, on Thursday, approved to acquire 100 per cent equity share capital of Hindusthan Specialty Chemicals for ₹375 crore, marking a strategic entry into the epoxy and advanced-materials segment. The deal, subject to regulatory approvals, is expected to close by September 2025. Capri Global share price: The companyy has raised ₹2,000 crore through its QIP, issuing 136.5 million shares at ₹146.5 each, to fund expansion and technology upgrades. Some of the notable QIB investors include Quant Mutual Fund, 3P Investment, BlackRock, Think Investments, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance, ICICI Lombard General Insurance, SBI General Insurance, HDFC Ergo General Insurance, TATA AIF, and MK Ventures Capital among others. Udaipur Cement Works share price: The Jaipur bench of NCLT has approved the Scheme of Amalgamation and Arrangement between Udaipur Cement Works, Hansdeep Industries & Trading Company, and Hidrive Developers and Industries with JK Lakshmi Cement. This consolidation is likely to simplify group structure and improve operational efficiency. Talbros Automotive Component share price:
Time of India
an hour ago
- Time of India
Operation Rising Lion: Before strike, Trump called for diplomacy; hours later, Israel hit Iran
Just hours before Israel launched a military strike on Iran, US President Donald Trump called for a peaceful resolution to tensions over Iran's nuclear program. In a message posted late Thursday on his Truth Social account, Trump wrote, "We remain committed to a Diplomatic Resolution to the Iran Nuclear Issue! My entire Administration has been directed to negotiate with Iran. Tired of too many ads? go ad free now They could be a Great Country, but they first must completely give up hopes of obtaining a Nuclear Weapon. Thank you for your attention to this matter!" Shortly afterward, Israel launched what it called a "preemptive strike" on Iran, targeting nuclear and military sites. Iran's state-run media confirmed that explosions had taken place. In anticipation of a potential counterattack, air-raid sirens were activated across Israel. Israeli Prime Minister in a video message, announced the strikes conducted under 'Operation Rising Lion'. "Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival," Netanyahu said. Despite the escalating conflict, the United States made clear it had no part in the Israeli strikes. US secretary of state Marco Rubio released a statement asserting that the operation was carried out solely by Israel. 'We are not involved in strikes against Iran and our top priority is protecting American forces in the region,' Rubio said. 'Let me be clear: Iran should not target US interests or personnel.' Meanwhile, Iran's Supreme Leader Ayatollah Ali Khamenei issued a sharp response, vowing retaliation against Israel. "Israel opened its wicked and blood-stained hand to a crime in our beloved country, revealing its malicious nature more than ever by striking residential centers," Khamenei said. "With this crime, the Zionist regime has set itself for a bitter and painful fate and it will definitely receive it."
