logo
Musk regrets some of his Trump criticisms, says they 'went too far'

Musk regrets some of his Trump criticisms, says they 'went too far'

Khaleej Timesa day ago

Elon Musk, the world's richest person and Donald Trump's former advisor, said Wednesday he regretted some of his recent criticisms of the US president, after the pair's public falling-out last week.
"I regret some of my posts about President @realDonaldTrump last week. They went too far," Musk wrote on his social media platform X.
Musk's expression of regret came just days after Trump threatened the tech billionaire with " serious consequences" if he sought to punish Republicans who vote for a controversial spending bill.
Their blistering break-up -- largely carried out on social media before a riveted public on Thursday last week -- was ignited by Musk's harsh criticism of Trump's so-called "big, beautiful" spending bill, which is currently before Congress.
Some lawmakers who were against the bill had called on Musk - one of the Republican Party's biggest financial backers in last year's presidential election - to fund primary challenges against Republicans who voted for the legislation.
"He'll have to pay very serious consequences if he does that," Trump, who also branded Musk "disrespectful," told NBC News on Saturday, without specifying what those consequences would be.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

After stablecoin push, Stripe acquires crypto wallet developer Privy
After stablecoin push, Stripe acquires crypto wallet developer Privy

Crypto Insight

time17 minutes ago

  • Crypto Insight

After stablecoin push, Stripe acquires crypto wallet developer Privy

Stripe has acquired Privy, a cryptocurrency wallet infrastructure developer, for an undisclosed amount, highlighting the global payment processor's growing pivot toward digital assets. Privy confirmed the acquisition on Wednesday in an announcement on social media that it will continue to operate as an independent product embedded within the Stripe ecosystem. As part of Stripe, Privy will 'keep building for developers building on crypto rails [but] now with more resources, flexibility, and firepower,' the company said. Bloomberg initially reported on the acquisition, though no financial terms were disclosed. While not widely known in the crypto space, Privy provides infrastructure for companies developing digital asset wallets. The company says its technology supports more than 50 million crypto wallets worldwide. Stripe eyes $250 billion stablecoin market Six years after pulling back from crypto, Stripe made a major return in October last year by allowing merchants to accept stablecoin payments through USDC. Since then, its push into stablecoin payments has gained momentum. As Cointelegraph recently reported, Stripe has rolled out stablecoin accounts to clients in over 100 countries. As of May 7, Stripe users can send and receive US dollar-pegged stablecoins much like they would with traditional bank accounts. Stripe co-founder and President John Collison told Bloomberg that, based on his conversations with global financial institutions, banks are showing growing interest in stablecoins. 'Banks are very interested in how they should be integrated with stablecoins into their product offerings as well,' said Collison. However, not everyone believes traditional banks will be quick to embrace stablecoins. NYU professor Austin Campbell recently claimed that the US banking lobby is 'panicking' over yield-bearing stablecoins, which could disrupt the industry's business model. According to Campbell, banks fear their business could be 'harmed' if stablecoins begin paying interest. Source:

Goldman Sachs trims US recession probability to 30%
Goldman Sachs trims US recession probability to 30%

Zawya

timean hour ago

  • Zawya

Goldman Sachs trims US recession probability to 30%

Goldman Sachs on Thursday trimmed its U.S. recession probability to 30% from 35% for the next twelve months on easing uncertainty around President Donald Trump's tariff policies after the U.S. and China affirmed a trade deal. Earlier this week, negotiators from Washington and Beijing agreed on a framework covering tariff rates with the deal seeing removal of Chinese export restrictions on rare earth minerals and giving Chinese students access to U.S. universities. Investors breathed a sigh of relief following the deal and easing concerns of an economic recession, after Trump's "Liberation Day" tariffs on April 2 rattled global financial markets. Goldman said domestic inflation readings so far – while offering only limited evidence – reflected a slightly smaller impact on U.S. consumer prices from tariffs. Data on Wednesday showed consumer prices increased less than expected in May, but is expected to rise in the coming months on the back of Trump's import tariffs. "Broad financial conditions have now eased back to roughly pre-tariff levels... (and) measures of trade policy uncertainty have moderated a bit following steps toward de-escalation," said Goldman, for nudging down its recession forecast. The Wall Street brokerage also boosted its 2025 U.S. GDP growth prediction to 1.25% from its prior forecast of 1% on a quarterly basis. (Reporting by Siddarth S in Bengaluru; Editing by Arun Koyyur and Shailesh Kuber)

Copper edges up on dollar weakness, but clouds loom over demand outlook
Copper edges up on dollar weakness, but clouds loom over demand outlook

Zawya

timean hour ago

  • Zawya

Copper edges up on dollar weakness, but clouds loom over demand outlook

Copper prices nudged higher on Thursday, aided by a weaker dollar, but persistent concerns over demand and unresolved trade tensions continued to cloud the market's outlook. Three-month copper on the London Metal Exchange was up 0.5% at $9,694 a metric ton by 1400 GMT, having gained more than a fifth since touching the lowest since November 2023 in April at $8,105. The dollar index slid to its lowest in over three years following U.S. data, making greenback-priced metals more affordable for buyers using other currencies. "Some support is coming from the weaker dollar. But more broadly, uncertainty around trade negotiations continues to pressure cyclical assets like copper," said Nitesh Shah, commodities strategist at WisdomTree. U.S. President Donald Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks, but added the U.S. would send out letters in coming weeks specifying the terms of trade deals to dozens of other countries, which they could then embrace or reject. UBS said in a note that on the demand side, the latest manufacturing PMIs from China, Europe and the U.S. all remain in contraction territory, highlighting the drag from the ongoing tariff situation. "Weak PMI readings suggest that final copper demand should be subdued. That said, some front-loading of demand ahead of U.S. tariffs has supported copper consumption, and U.S. imports have tightened the market outside of the U.S.," the note added. In February, Washington launched an investigation into U.S. copper imports, pushing COMEX prices to a notable premium over LME. Seizing the opportunity, traders have redirected copper flows toward the U.S. from other regions. U.S. COMEX copper futures added 0.1% to $4.82 a lb, bringing the premium over LME copper to $933 a ton. On the supply front, Ivanhoe Mines said on Wednesday that it had resumed underground operations at a section of its Kakula copper mine in the Democratic Republic of Congo (DRC), previously halted due to seismic activity. However, the company lowered its production guidance for the year. "Downgrades to production estimates — particularly from the DRC — are weighing on the supply outlook. From our perspective, the market is heading toward a supply deficit by year-end," added Shah. LME aluminium and tin were little changed at $2,516.50 and $32,660 a ton respectively, zinc eased 0.6% to $2,638, nickel dipped 0.2% to $15,150 while lead gained 0.5% to $1,996.50. (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Jan Harvey, Susan Fenton and Elaine Hardcastle)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store