Trump says ‘we just have to be careful' as he moves nuclear subs closer to Russia
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Yahoo
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- Yahoo
Tesla approves $29bn share award to Elon Musk
Tesla's board has signed off a $29bn (£21.8bn) share award to Elon Musk after a court blocked an earlier package worth almost double that sum. The new award, which amounts to 96 million new shares, is not just about keeping the electric vehicle (EV) firm's founder in the driving seat as chief executive. The new stock will also bolster his voting power from a current level of 13%. Money latest: He and other shareholders have long argued that boosting his interest in the company is key to maintaining his focus after a foray into the trappings of political power at Donald Trump's side - a relationship that has now turned sour. Musk is angry at the president's tax cut and spending plans, known as the big beautiful bill. Tesla has also suffered a sales backlash as a result of Musk's past association with Mr Trump and role in cutting federal government spending. The company is currently focused on the roll out of a new cheaper model in a bid to boost flagging sales and challenge steep competition, particularly from China. The headwinds have been made stronger as the Trump administration has cut support for EVs, with Musk admitting last month that it could lead to a "few rough quarters" for the company. Read more: Tesla faces losing billions after Musk-Trump fallout Tesla is currently running trials of its self-driving software and revenues are not set to reflect the anticipated rollout until late next year. Musk had been in line for a share award worth over $50bn back in 2018 - the biggest compensation package ever seen globally. But the board's decision was voided by a judge in Delaware following a protracted legal fight. There is still a continuing appeal process. Earlier this year, Tesla said its board had formed a special committee to consider some compensation matters involving Musk, without disclosing details. The special committee said in the filing on Monday: "While we recognize Elon's business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging... we are confident that this award will incentivize Elon to remain at Tesla". It added that if the Delaware courts fully reinstate the 2018 "performance award", the new interim grant would either be forfeited or offset to ensure no "double dip". The new compensation package is subject to shareholder approval.
San Francisco Chronicle
6 minutes ago
- San Francisco Chronicle
Rep. Nancy Mace kicks off South Carolina GOP gubernatorial bid. She says she's 'Trump in high heels'
WASHINGTON (AP) — Republican Rep. Nancy Mace of South Carolina is running for governor, entering a GOP primary in which competition for President Donald Trump's endorsement — and the backing of his base of supporters — is expected to be fierce. Mace, who last year won her third term representing South Carolina's 1st District, made her run official during a launch event Monday at The Citadel military college in Charleston. She plans to start a statewide series of town halls later this week with an event in Myrtle Beach. 'I'm running for governor because South Carolina doesn't need another empty suit and needs a governor who will fight for you and your values," Mace said. "South Carolina needs a governor who will drag the truth into sunlight and flip the tables if that's what it takes.' Mace told The Associated Press on Sunday she plans a multi-pronged platform aimed in part at shoring up the state's criminal justice system, ending South Carolina's income tax, protecting women and children, expanding school choice and vocational education and improving the state's energy options. Official filing for South Carolina's 2026 elections doesn't open until March, but several other Republicans have already entered the state's first truly open governor's race in 16 years, including Attorney General Alan Wilson, Lt. Gov. Pamela Evette and Rep. Ralph Norman. Both Wilson and Evette have touted their own connections to the Republican president, but Mace — calling herself 'Trump in high heels' — said she is best positioned to carry out his agenda in South Carolina, where he has remained popular since his 2016 state primary win helped cement his status as the GOP presidential nominee. Saying she plans to seek his support, Mace pointed to her defense of Trump in an interview that resulted in ABC News agreeing to pay $15 million toward his presidential library to settle a defamation lawsuit. She also noted that she called Trump early this year as part of an effort to persuade GOP holdouts to support Rep. Mike Johnson to become House speaker. 'No one will work harder to get his attention and his endorsement,' she said. 'No one else in this race can say they've been there for the president like I have, as much as I have and worked as hard as I have to get the president his agenda delivered to him in the White House.' Mace has largely supported Trump, working for his 2016 campaign but levying criticism against him following the Jan. 6, 2021, violence at the U.S. Capitol, which spurred Trump to back a GOP challenger in her 2022 race. Mace defeated that opponent, won reelection and was endorsed by Trump in her 2024 campaign. A month after she told the AP in January that she was 'seriously considering' a run, Mace went what she called 'scorched earth," using a nearly hour-long speech on the U.S. House floor in February to accuse her ex-fiancé of physically abusing her, recording sex acts with her and others without their consent, and conspiring with business associates in acts of rape and sexual misconduct. Mace's ex-fiancé said he 'categorically' denied the accusations, and another man Mace mentioned has sued her for defamation, arguing the accusations were a 'dangerous mix of falsehoods and baseless accusations.' 'I want every South Carolinian to watch me as I fight for my rights as a victim," Mace said, asked if she worried about litigation related to the speech. "I want them to know I will fight just as hard for them as I am fighting for myself.' Mace, 47, was the first woman to graduate from The Citadel, the state's military college, where her father then served as commandant of cadets. After briefly serving in the state House, in 2020 she became the first Republican woman elected to represent South Carolina in Congress, flipping the 1st District after one term with a Democratic representative. ___
San Francisco Chronicle
6 minutes ago
- San Francisco Chronicle
Stakes rise in the Russia-Ukraine war as Trump's deadline for the Kremlin approaches
The coming week could bring an important moment in the war between Russia and Ukraine, as U.S. President Donald Trump's deadline for the Kremlin to reach a peace deal approaches — or it could simply melt away. U.S. President Donald Trump's special envoy Steve Witkoff was expected in Moscow in the middle of this week, just before Trump's Friday deadline for the Kremlin to stop the killing or face potentially severe economic penalties from Washington. Previous Trump promises, threats and cajoling have failed to yield results., and the stubborn diplomatic stalemate will be hard to clear away. Meanwhile, Ukraine is losing more territory on the front line, although there is no sign of a looming collapse of its defenses. Trump envoy is expected at the Kremlin Witkoff was expected to land in the Russian capital on Wednesday or Thursday, according to Trump, following his trip to Israel and Gaza. 'They would like to see (Witkoff),' Trump said Sunday of the Russians. 'They've asked that he meet so we'll see what happens.' Trump, exasperated that Russian President Vladimir Putin hasn't heeded his calls to stop bombing Ukrainian cities, a week ago moved up his ultimatum to impose additional sanctions on Russia as well as introduce secondary tariffs targeting countries that buy Russian oil, including China and India. Kremlin spokesman Dmitry Peskov said Monday that officials are happy to meet with Trump's envoy. 'We are always glad to see Mr. Witkoff in Moscow,' he said. 'We consider (talks with Witkoff) important, substantive and very useful.' Trump is not sure sanctions will work Trump said Sunday that Russia has proved to be 'pretty good at avoiding sanctions.' 'They're wily characters,' he said of the Russians. The Kremlin has insisted that international sanctions imposed since its February 2022 invasion of its neighbor have had a limited impact. Ukraine insists the sanctions are taking their toll on Moscow's war machine and wants Western allies to ramp them up. Ukrainian President Volodymyr Zelenskyy on Monday urged the United States, Europe and other nations to impose stronger secondary sanctions on Moscow's energy, trade and banking sectors. The secondary sanctions also complicate Washington's relations with China and India, who stand accused of helping finance Russia's war effort by buying its oil. Since taking office in January, Trump has found that stopping the war is harder than he perhaps imagined. Senior American officials have warned that the U.S. could walk away from the conflict if peace efforts make no progress. Putin shows no signs of making concessions The diplomatic atmosphere has become more heated as Trump's deadline approaches. Putin announced last Friday that Russia's new hypersonic missile, the Oreshnik, has entered service. The Russian leader has hailed its capabilities, saying its multiple warheads that plunge to a target at speeds of up to Mach 10 cannot be intercepted. They are so powerful, he said, that the use of several of them in one conventional strike could be as devastating as a nuclear attack. Also, one of Putin's top lieutenants warned that the Ukraine war could nudge Russia and the U.S. into armed conflict. Trump responded to what he called the 'highly provocative statements' by former Russian president Dmitry Medvedev by ordering the repositioning of two U.S. nuclear submarines. Putin has repeated the same message throughout the war: He will only accept a settlement on his terms and will keep fighting until they're met. The war is killing thousands of troops and civilians Russia's relentless pounding of urban areas behind the front line have killed more than 12,000 Ukrainian civilians, according to the United Nations. It has pushed on with that tactic despite Trump's public calls for it to stop over the past three months. On the 1,000-kilometer (620-mile) front line, Russia's bigger army has made slow and costly progress. It is carrying out a sustained operation to take the eastern city of Pokrovsk, a key logistical hub whose fall could open the way for a deeper drive into Ukraine. Ukraine has developed technology that has allowed it to launch long-range drone attacks deep inside Russia. In its latest strike it hit an oil depot near Russia's Black Sea resort of Sochi, starting a major fire.
