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Tesla shares rise as Elon Musk cuts ties with Trump administration

Tesla shares rise as Elon Musk cuts ties with Trump administration

TimesLIVE29-05-2025
Tesla shares rose more than 2% on Thursday after news that CEO Elon Musk is stepping away from the Trump administration, fuelling hopes he will sharpen focus on the carmaker as it gears up for its hotly anticipated robotaxi debut.
Musk's ties with US President Donald Trump and his tilt towards right-wing politics in Europe had fuelled waves of protests against Tesla in recent months, pushing some buyers away and rattling investors worried about brand damage.
With Tesla on track for a second straight annual sales decline after its first-ever drop in 2024, pressure was mounting on the world's richest man — who also owns SpaceX and X — to refocus on the carmaker that underpins much of his fortune.
Musk signalled recently he was cutting back on his role with the department of government efficiency (Doge), telling shareholders in March he would reduce his time to a day or two per week.
He also announced last week that he will cut his political spending substantially. Musk spent nearly $300m (R5.35bn) to back Trump's presidential campaign and other Republicans last year.
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'Distorted and Inaccurate': South Africa dismantles US Human Rights report allegations
'Distorted and Inaccurate': South Africa dismantles US Human Rights report allegations

IOL News

time7 hours ago

  • IOL News

'Distorted and Inaccurate': South Africa dismantles US Human Rights report allegations

President Cyril Ramaphosa is set to meet with Trump, where he must defend South Africa's sovereignty against aggressive US policies. Image: IOL Graphics The South African government has firmly denied allegations contained in the 2024 United States Human Rights Report, rejecting claims that white farmers are being specifically targeted in racially motivated attacks. The controversy has revived a long-standing false narrative, one previously amplified by high-profile figures such as US President Donald Trump and billionaire Elon Musk. Trump also threatened to skip the SA G20 summit later this year because 'bad things are happening in South Africa'. Musk, in turn, has echoed similar sentiments in public statements and online, warning of an alleged 'white genocide' in the country. The Department of International Relations and Cooperation (DIRCO) labelled the assertions as 'distorted and inaccurate,' reaffirming its commitment to a transparent, evidence-based approach to rural safety. In a revised statement issued this week, DIRCO spokesperson, Chrispin Phiri, clarified what it described as "misleading interpretations" of crime data in South Africa's farming communities. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The US report had suggested a pattern of racial targeting in rural attacks—a claim the South African government says is not supported by official statistics. 'We address all forms of crime, which remain a significant challenge for all of our citizens, regardless of race or location,' said Phiri. 'The suggestion that these crimes represent a concerted practice of racially motivated attacks is not borne out by the facts.' According to the South African Police Service (SAPS), only six murders were reported in farming communities between January and March 2025. Of these, two were farmers, three were employees, and one was a farm dweller—evidence that violence in rural areas is not racially selective but affects all individuals living and working in those communities. The government also aimed at domestic groups—specifically AfriForum and the Solidarity Movement—for fuelling divisive rhetoric. Both organisations have publicly accused the South African government of attempting to "destroy Afrikaners" and of turning a blind eye to farm attacks. These claims have sparked widespread public outrage and drawn criticism from across the political spectrum for misrepresenting facts and deepening social tensions. 'The claim that the government is trying to destroy Afrikaners is not only false—it is inflammatory and dangerous,' the Presidency said earlier this year. 'We will not allow any organisation, local or international, to spread lies about our country.'

US-EU trade truce softens blow but clouds linger over growth
US-EU trade truce softens blow but clouds linger over growth

The Citizen

time8 hours ago

  • The Citizen

US-EU trade truce softens blow but clouds linger over growth

The European Central Bank says the recent US-EU trade agreement has reduced tensions but left key risks unresolved. The US-EU trade deal has eased but 'certainly not eliminated' global uncertainty, European Central Bank President Christine Lagarde said Wednesday. Speaking at a panel at the World Economic Forum in Geneva, Lagarde said the deal had left the effective US tariff rate for EU goods at between 12 and 16 percent. Trump's tariff plans remain unclear The tariff rate was 'somewhat higher' than the ECB had forecast, she said, adding that President Donald Trump's plans for sector-specific levies on pharmaceutical goods and semiconductors remain unclear. The ECB expects eurozone activity to slow in the third quarter of 2025 after a strong start to the year. Lagarde said that 'global growth has remained broadly steady so far' but cautioned that 'this resilience has been mainly driven by tariff-induced distortions of economic activity'. She noted that, in the first quarter of the year, 'importers boosted their inventories in anticipation of higher tariffs'. Tariff threats on EU exports Trump has imposed painful import tariffs on countries around the world in an attempt to boost US manufacturing and reduce his country's colossal trade deficit. ALSO READ: Agricultural exports doing well so far despite US tariffs – but farmers dread next season He had initially threatened steep 30 percent tariffs on EU imports but late last month Brussels and Washington reached a deal which lowered that to 15 percent, with the bloc trying to secure exemptions for certain sectors. However, in recent weeks Trump has raised the possibility of additional tariffs hitting certain sectors such as pharmaceuticals, which account for 20 percent of the the EU's exports to the United States. The EU-US deal was struck a few days after a meeting of the ECB's governing council at which it decided to hold interest rates steady after consecutive cuts. ECB outlook and future forecasts That was seen as a sign of caution as policymakers waited to see what effects the US tariffs would have. In its last macroeconomic projections in June, the ECB lowered its inflation forecast to two percent for 2025 due to lower energy prices and a strengthening euro. At the same time it lowered its forecast for GDP growth in 2026 slightly to 1.1 percent. Lagarde said that new forecasts set to published in mid-September will take into account 'the implications of the EU-US trade deal for the euro area economy'. NOW READ: Unemployment could get even worse in third quarter due to US tariffs

Eggs, tomatoes, sandwiches: The history of food as protest projectiles
Eggs, tomatoes, sandwiches: The history of food as protest projectiles

IOL News

time8 hours ago

  • IOL News

Eggs, tomatoes, sandwiches: The history of food as protest projectiles

Roman emperor Vespasian was one of the first known politicians to have food thrown at him, in his case turnips by a tribe in North Africa. Image: Supplied Emily Heil and Tim Carman The Roman Emperor Vespasian might not be as well-known as his predecessors Nero and Caligula, but when he died in AD 79, he left behind a legacy that included stabilising the empire, beginning construction of the structure that would become known as the Colosseum - and being the first politician recorded to have been pelted with flying produce. During a visit to Africa, Vespasian was hit by rioters with turnips, according to the Roman historian Suetonius. Suetonius didn't note precisely what had angered the people or how the emperor reacted, but one thing is clear: They were onto something, and some 2 000 years later, the tradition of hurling food in political protest endures. Throughout the centuries, protesters have flung all manner of foods - eggs, pies, tomatoes, even fully composed sandwiches - at the targets of their ire. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The latest incident occurred two weeks ago, when a man turned his Subway sandwich into a projectile and tossed it at a federal law enforcement officer, who was on the streets one day before President Donald Trump announced he would take over DC police 'to rescue our nation's capital from crime, bloodshed, bedlam and squalor and worse.' The man has now been fired from his Justice Department job, Attorney General Pam Bondi said, and is facing felony assault charges. Trump has been clear about his concerns over fruits and vegetables flying in his direction. In a 2022 videotaped testimony, Trump said, 'I think that [his guards] have to be aggressive in stopping that from happening,' according to a transcript in a lawsuit that accused Trump's security detail of assaulting protesters who allegedly planned to toss foodstuffs at a 2015 campaign rally. 'Because if that happens, you can be killed if that happens. … To stop somebody from throwing pineapples, tomatoes, bananas, stuff like that, yeah, it's dangerous stuff.' There are no prominent accounts of politicians being assassinated, or even maimed, by flying food. And pineapples? The bulky tropical treats would make terrible projectiles - and how many of them would one need to lug around, anyway, to ensure a successful attack? Bananas, too, are an unlikely missile. On tomatoes, though, Trump does have a point. Just hours after the news of Trump's fruit fears emerged in 2022, then-newly reelected French President Emmanuel Macron was pelted with a hail of cherry tomatoes when he appeared at an open-air market in a Parisian suburb. Macron, however, survived the onslaught, thanks in part to an umbrella someone nearby hoisted to shield him. Here's a rundown of foods that protesters have aimed at politicians and others: An art piece depicting an individual throwing a sandwich is seen near the Dupont Circle in Washington, DC. An increased presence of law enforcement has been seen throughout the nation's capital since President Donald Trump announced plans to deploy federal officers and the US National Guard. Image: Kayla Bartkowski/ AFP Sandwiches On Sunday, FBI agents were already on the ground in Washington, helping local law enforcement deal with crime, but Trump had not yet taken control of the city's police force or sent in the National Guard. Still, the presence of federal officers on the U Street NW corridor was enough to allegedly set off Sean Charles Dunn, who according to a federal court filing yelled obscenities at Metro Transit Police and U.S. Customs and Border Protection officers. He allegedly called them fascists, too. Then came the sandwich toss seen 'round the city: Dunn allegedly turned his Subway sandwich into an overhand fastball, aimed directly at an officer's chest. He fled on foot, only to be arrested sometime later. Jeanine Pirro, U.S. attorney for the District of Columbia, announced Wednesday that Dunn was being charged with felony assault. At a Thursday news briefing, Bondi said Dunn, a Justice Department employee, had been fired. The charge drew immediate ridicule on a subreddit for D.C., where commenters suggested Pirro could have accused Dunn of 'assault with a deli weapon' or 'assault with a breadly weapon.' Dunn became an instant hero to some: His protest was quickly turned into graffiti art, ready to share on social media. 'The gyro we deserve,' noted one commenter. Tomatoes are a common protest projectile, with Sarah Palin narrowly missing a hit at a book signing deal, and Hillary Clinton's motorcade pelted in Egypt. Image: Files Tomatoes Rotten produce, particularly tomatoes, has historically been associated with theatrical performances more than political ones. (The popular movie-reviewing site Rotten Tomatoes plays on the trope.) A bon mot that is often attributed to playwright Oscar Wilde - that when a rotten cabbage fell at his feet onstage, he apocryphally addressed its sender, quipping 'every time I smell it, I shall be reminded of you' - was perhaps inspired by an actual event from 1895. The angry father of Wilde's lover arrived at a performance of his hit play 'The Importance of Being Ernest' with a bouquet of vegetables he meant to throw, although he was turned away by police. And an actor in a New York Times story from a dozen years earlier was described as being 'demoralized by tomatoes' during a lackluster performance. It's unlikely, however, that tomatoes were thrown at Shakespeare's Globe Theatre, as is sometimes described, since tomatoes weren't introduced in Europe until much later. Plenty of politicians, too, have been targeted by tomatoes (which are technically a fruit, not a vegetable, something the lawyers in the Trump deposition actually discussed in a very enjoyable aside.) Former Alaska Gov. Sarah Palin was spared from a splat during a book signing at the Mall of America when the man lobbing the fruit at her from a balcony in 2009 missed; in 2012, Secretary of State Hillary Clinton's motorcade in Egypt was hit. And while Trump's fear of lethal tomatoes (maybe he's been watching too many B movies?) is overestimated, they can hurt - particularly if you're whacked with a hard, unripe specimen. One of the rules of La Tomatina - the festival in Bunol, Spain, where participants sling tomatoes at one another in celebration - is that you smash the tomatoes before throwing them at another person, to lessen the impact (and maximize the squish?). An aide removes an egg from Arnold Schwarzenegger's jacket after the egg was thrown at him as he arrived at a campaign rally at the campus of California State University in 2003. The governor asked 'where's the bacon'. Image: Files Eggs Egging is a long-standing tradition, carried on by middle-schoolers and political activists alike. As with tomatoes, the rotten variety has more impact (i.e. stench). In 2022, a trucker convoy protesting outside the home of a Democratic state lawmaker in Oakland, California, was met with a volley of eggs, many tossed by kids annoyed by the intrusion of the big rigs. The origins of the practice go back centuries. In the 1871 novel 'Middlemarch,' a man's ill-fated run for Parliament includes a scene in which a mocking crowd pelts his image - and him - with eggs. Over the years, prominent US politicians have taken shellings: Eggs were lobbed at Vice President Richard Nixon at several stops on his 1960 presidential campaign; Senator Ted Kennedy (D-Massachusetts) was similarly greeted on the presidential trail in 1980. President Bill Clinton took an incoming oeuf in 2001 during a trip to Poland. And California Governor Arnold Schwarzenegger should probably win the title for most-agreeable target for his reaction to getting hit in the (considerable) shoulders during his 2003 campaign. He defended the egging as part of free speech and joked that the perpetrator 'owes me bacon now.' Microsoft chairman Bill Gates after being hit with a pie in Brussels. Image: File Pies A pie to the face is a quintessential comedic stunt, and it's all the more primally satisfying when the object is a person of importance. The visual gag was popularized in vaudeville and in silent movies, and on-screen pieing became a cinematic staple, with practitioners such as Charlie Chaplin, Laurel and Hardy, and the Three Stooges. Many a political mug has been mashed into a pie, some the work of collectives such as the Biotic Baking Brigade and Pie Kill, which targeted the rich and powerful with pastry. The pie-to-the face roll call includes San Francisco Mayor Willie Brown, New York Mayor Abraham Beame, Sen. Daniel Patrick Moynihan (D-New York), Agriculture Secretary Dan Glickman and Watergate plumber G. Gordon Liddy. Microsoft chairman Bill Gates too was a victim of a pie protest in Brussels. A 2004 book by the Biotic Baking Brigade called 'Pie Any Means Necessary' offered practical advice for aspiring piers (selecting the right variety, aim and the like) as well as history and ruminations on the deeper meanings behind the prank, which it deemed a 'creative tool in the toolbox of resistance.' 'Pie-throwing utilizes carnival humor,' according to an essay in the book, 'unsettling the authority and control that those in power try to project.' British politician Nigel Farage has a milkshake thrown at him during the Brexit campaign of 2016. Image: Files Milkshakes 'Milkshaking' is a relatively more recent innovation. That could be because the milkshake itself has a shorter history than other commonly employed protest foods. It became a phenomenon employed against right-wing figures in the United Kingdom as Britain considered leaving the European Union. One protester tossed a banana-and-salted-caramel milkshake at Brexit leader Nigel Farage. Other targets included anti-Islam activist Stephen Yaxley-Lennon, known as Tommy Robinson, and anti-feminist political commentator Carl Benjamin, who was hit by a creamy treat on at least four occasions. A point against the practice is the cost, relative to, say, the moldy, leftover contents of one's produce drawer. But it has the advantage of being visually appealing - the sight of a suit-wearing stiff coated in sticky, drippy dairy is quite photogenic. And as The Washington Post reported at the time, 'attackers sipping shakes are far less conspicuous than bystanders clutching eggs.' Spaghetti The tossing of ribbons of pasta is more specific to a part of the world that's very much in the news now. In Russia and Ukraine, the expressions 'hang noodles over your ears' reportedly is akin to 'pulling one's leg' or deceiving them. In the midst of the 2014 Ukrainian crisis, in which the country's pro-Kremlin president was ousted, protesters threw piles of spaghetti at the Russian consulate in Odesa, essentially accusing the Russian media of inaccurate coverage. | The Washington Post

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