President Trump Takes Credit for February Job Gains
"Balance of Power" focuses on the intersection of politics and global business. On today's show, Diana Furchtgott-Roth, Director of the Heritage Foundation Center for Energy, Climate, and Environment, shares her thoughts on what disturbances she's bracing for in the US economy. Elizabeth Wydra, Constitutional Accountability Center President, talks about President Trump going on record saying Elon Musk is the head of DOGE and the potential legal ramifications of the President's comment. Melinda Haring, Senior Fellow at the Atlantic Council's Eurasia Center, discusses the US & Ukraine set to talk next week and what to expect from these conversations. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
French drivers sue Tesla over claim Musk made cars ‘extreme Right' symbols
A group of French drivers are suing Tesla, claiming that Elon Musk has turned their cars into totems of the 'extreme Right'. The lawsuit filed on behalf of 10 drivers in Paris says the perception the vehicles have become political symbols 'prevents them from fully enjoying their car'. It is the latest example of a backlash against Mr Musk for his support of Donald Trump in the US. 'Because of Elon Musk's actions ... Tesla-branded vehicles have become strong political symbols and now appear to be veritable extreme-Right 'totems', to the dismay of those who acquired them with the sole aim of possessing an innovative and ecological vehicle,' said law firm GKA in a statement. The French drivers suing Mr Musk's company are demanding that their leases be terminated and that their legal fees are repaid. Most of the leases run for four years, with an option at the end to buy the vehicle. Tesla's sales in the European Union have almost halved since the beginning of the year, a slump attributed by some analysts to Musk's political activities – but also the company's ageing line-up of cars. Before last week – when he acrimoniously broke with Mr Trump over the president's 'one big beautiful bill' – Mr Musk had described himself as the US president's 'first buddy', providing large donations to his election campaign and serving in his government to help establish the department of government efficiency (Doge). This and the cuts to US international aid that Doge has pushed through have provoked controversy among the Trump administration's opponents. Mr Musk also triggered an outcry at Mr Trump's inauguration with a hand gesture that resembled a Nazi salute. The billionaire has repeatedly insisted he was signalling 'my heart goes out to you'. However, his intervention in German politics to support the far-Right Alternative for Germany party, which has been classified by the country's security services as 'extremist', has also provoked criticism in Europe. In France, prosecutors are investigating an arson attack on a Tesla dealership near the southern city of Toulouse that left eight vehicles burned out and four badly damaged. Activists have branded Teslas 'swasticars', with the actor Alex Winter – best known for playing Bill Preston in the film Bill and Ted's Excellent Adventure – running a campaign urging people to 'sell your Teslas, dump your stock, join the picket lines'. Some owners have also placed stickers on their Teslas reading: 'I bought this before Elon went crazy'. Patrick Klugman, one of the lawyers working on the French case, told Agence France-Presse: 'The situation is both unexpected and impossible for French Tesla owners. 'Musk's political positions have interrupted enjoyment' of the vehicles, and 'we believe that Mr Musk owes these buyers the peaceful possession of the thing sold', he added. Tesla has not commented on the case. It came as Mr Musk apologised to the US president for posting incendiary comments on social media that called for him to be impeached and claimed he was named in the Epstein files. 'I regret some of my posts about president @realDonaldTrump last week. They went too far,' Mr Musk wrote on Wednesday morning. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
an hour ago
- Yahoo
Dogecoin Jumps 5% as V-Shaped Recovery Shows Rising Demand
Dogecoin {{DOGE}] jumped 4.8% over the past 24 hours, climbing from 18 cents to 19 cents amid renewed bullish momentum and significant trading volume. The rally, marked by a V-shaped recovery from key support levels, is indicative of DOGE's resilience as it attracts attention from both retail and institutional investors. News Background Dogecoin's latest rally comes amid renewed interest in meme coins and growing speculation around a potential DOGE ETF. According to Polymarket data, traders now estimate a 51% chance of SEC approval for a DOGE ETF in 2025, a development that could bring substantial institutional inflows. Meanwhile, Dogecoin's integration with the Coinbase-backed Base network has enhanced its utility in DeFi applications, making it easier for users to engage with the token across multiple platforms. As geopolitical tensions and evolving trade policies continue to roil traditional markets, Dogecoin's role as a speculative asset — and potential hedge — remains in focus. Institutional whale activity, along with sustained interest from high-volume traders, suggests the token could remain a key performer even amid broader market uncertainty. Price Action Dogecoin's rally was highlighted by a dramatic price surge during the 11:00-13:00 window, where volume spiked to 541 million and 589 million units respectively — more than double the average. The surge established a strong high-volume resistance zone at $0.198-$0.199. DOGE's price bounced decisively from $0.194 support, forming a V-shaped recovery pattern with renewed buyer interest. Technical Analysis Recap DOGE climbed from $0.189 to $0.199, a 4.8% gain. Significant volatility occurred during 11:00-13:00 UTC, with volumes of 541 million and 589 million. Resistance established at $0.198-$0.199, with support at $0.189. V-shaped recovery pattern formed in the final hour, with substantial buying interest at $0.194. Volume spikes at 01:56 UTC to 7.2 million and during the final 10 minutes confirmed strong buyer interest. Price established new resistance at $0.196, suggesting potential continuation of the in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Tesla stock rises as Trump-Musk feud cools and robotaxi launch nears
Tesla stock rose marginally in pre-market trading on Wednesday after CEO Elon Musk extended an olive branch to US President Donald Trump following their public feud. Shares were up over 2% by around midday CEST, at $332.76 (€290.98) 'I regret some of my posts about President @realDonaldTrump last week. They went too far,' Musk said in a post on X on Wednesday. After spending millions backing Trump's successful presidential bid, Musk heavily criticised the Republicans' new tax and spending bill, creating a rift between the two men. Musk was previously appointed by Trump to lead DOGE, the US' Department of Government Efficiency. The tech billionaire argued that the new bill, dubbed by Trump as the 'One Big Beautiful Bill Act', would irresponsibly raise the public deficit and undermine DOGE's work. Musk resigned from the department in late May after saying he was 'disappointed' with spending proposals. In an escalation of the conflict last week, Musk called for Trump to be impeached and replaced with Vice President JD Vance. He also implied that Trump was linked with late sex offender Jeffrey Epstein, an allegation the White House denied. Related The 100 ways Elon Musk and his companies allegedly benefited from working with Donald Trump Tesla's European buyers turn away? Sales slide amid Musk's political controversy As for the president, Trump threatened to terminate government contracts awarded to Musk's SpaceX firm. On Monday, the president then took a more conciliatory tone. Trump said he wished Musk 'very well' and claimed that he would retain Starlink internet service at the White House. Even so, the US President suggested that he might remove his own Tesla from White House grounds. The value of Tesla shares have been rocked by volatility as investors track the dramas playing out in Washington — and some dump stock in protest of Musk's politics. Both Argus Research and Baird downgraded ratings for Tesla stock on Monday, which has seen its value drop by more than 19% since the start of the year. Aside from the Trump-Musk feud, experts noted that risks to Tesla include the expiration of EV credits, which could dampen demand. A $7,500 tax credit for an EV purchase is set to be fully eliminated by the end of 2026, although restrictions will be applied before this. For those wishing to use the credit in 2026, they can only buy from manufacturers that haven't yet sold 200,000 EVs. This would disqualify Tesla. Other challenges include increased competition in the EV market, particularly from Chinese rivals such as BYD. Despite these storm clouds ahead, Musk's enthusiasm about robotaxis appears to be inflating the stock's value. The CEO is currently hoping to roll out the self-driving taxi service in Austin, Texas, on 22 June. In a post on his X social media platform, Musk said the date could change because Tesla is 'being super paranoid about safety'. Sign in to access your portfolio
