JPMorgan's Matt Boss: Gap is not trading on fundamentals

CNBC4 days ago

Matt Boss, JPMorgan retail analyst, joins CNBC's 'Squawk on the Street' to discuss reactions to Gap earnings after shares of the company fell on comments from the CEO about tariff impact.

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New Elizabeth Warren report chronicles '130 days of Elon Musk'

CNBC

18 minutes ago

CNBC

New Elizabeth Warren report chronicles '130 days of Elon Musk'

Sen. Elizabeth Warren's office issued a report Tuesday chronicling Elon Musk's "130 days" in President Donald Trump's administration, accusing the billionaire of using his government perch to enrich himself and his businesses. "Musk and individuals acting on his behalf have been involved in dozens of questionable actions that raise questions about corruption, ethics and conflicts of interest," says the report by the Massachusetts Democrat's office. The 14-page report outlines more than 100 times that Warren's team believes Musk abused his role as a "special government employee" to benefit his private interests. It accuses Musk of violating "norms at an astonishing pace," actions that it calls "scandalous behavior regardless of whether it subjects him to criminal prosecution." The White House did not respond to CNBC's request for comment on the report. CNBC also reached out for comment to Musk, Quinn Emanuel partner Alex Spiro and Omead Afshar, a Tesla vice president. They did not immediately respond to requests for comment. Musk last week wrapped up his official government service leading DOGE, or Department of Government Efficiency," which is engaged in a broad effort to slash federal government spending. His four months leading DOGE as a special government employee were marked by unprecedented upheaval to the federal workforce and government agencies. Warren's team accuses Musk of using the federal government to promote his businesses. Musk, who is the world's richest person, is CEO of Tesla, SpaceX and artificial intelligence startup xAI. For instance, it highlights the time the White House lawn was turned into a temporary Tesla showroom. It also outlines more than two dozen instances where the Trump administration or government agencies "have entered or explored new lucrative contracts" with Musk's companies, such as Customs and Border Protection exploring using Starlink technology in surveillance towers. The report also outlines six times that the Trump administration or federal agencies halted enforcement actions against any of Musk's companies, or the times that DOGE targeted government agencies investigating the companies. For instance, it says that the Occupational Safety and Health Administration closed an investigation into Tesla for "allegedly violating workplace safety rules." "Musk's companies have received or are being considered for large contracts with the federal government, with foreign governments, and with other private sector companies," the report says. The report is not the first time that Musk has come under fire for alleged conflicts of interest during his DOGE tenure. Three Democratic senators, including Warren, sent a letter last week urging the Justice Department and other authorities to probe whether DOGE employees broke conflict-of-interest laws by owning stocks in companies that may have benefited from their government-cutting work.