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Herald Sun
11 hours ago
- Business
- Herald Sun
Elon Musk's rocket-fueled ride with Trump flames out
Don't miss out on the headlines from Breaking News. Followed categories will be added to My News. Elon Musk stormed into US politics as President Donald Trump's chainsaw-brandishing sidekick. Four turbulent months later it's the tech tycoon himself on the chopping block. Trump hailed Musk as "terrific" as he announced that they would hold a joint press conference on Friday as the South African-born magnate leaves the so-called Department of Government Efficiency (DOGE). "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said on his Truth Social network on Thursday. But the warm words could not hide the open frustrations that Musk, the world's richest man, had expressed in recent weeks about his controversial cost-cutting role for the world's most powerful man. Once a fixture at the Republican president's side, dressed in t-shirts and MAGA baseball caps, Musk had shown growing disillusionment with the obstacles faced by DOGE even as it cut a brutal swath through the US bureaucracy. He leaves far short of his original goal of saving $2 trillion dollars, with The Atlantic magazine calculating he saved just one thousandth of that, despite tens of thousands of people losing their jobs. Instead he will focus on his Space X and Tesla businesses, as well as his goal of colonizing Mars. - Rocket-like rise - It was all very different at first, as the 53-year-old Musk rose through Trump's orbit as rapidly as one of his rockets -- though they have been known to blow up now and again. Musk was the biggest donor to Trump's 2024 election campaign and the pair bonded over right-wing politics and a desire to root out what they believed was a wasteful "deep state." DOGE was jokingly named after a "memecoin," but it was no joke. Young tech wizards who slept in the White House complex shuttered whole government departments. Foreign countries found their aid cut off. A shades-wearing Musk brandished a chainsaw at a conservative event, boasting of how easy it was to save money, and separately made what appeared to be a Nazi salute. Soon the man critics dubbed the "co-president" was constantly at Trump's side. The tycoon appeared with his young son X on his shoulders during his first press conference in the Oval Office. He attended cabinet meetings. He and Trump rode on Air Force One and Marine One together. They watched cage fights together. Many wondered how long two such big egos could coexist. But Trump himself remained publicly loyal to the man he called a "genius." One day, the president even turned the White House into a pop-up Tesla dealership after protesters targeted Musk's electric car business. - 'Got into fights' - Yet the socially awkward tech magnate also struggled to get a grip on the realities of US politics. The beginning of the end "started (in) mid-March when there were several meetings in the Oval Office and in the cabinet room where basically Elon Musk got into fights," Elaine Kamarck of the Brookings Institution told AFP. One shouting match with Treasury Secretary Scott Bessent could reportedly be heard throughout the West Wing. Musk publicly called Trump's trade advisor Peter Navarro "dumber than a sack of bricks." Nor did Musk's autocratic style and Silicon Valley creed of "move fast and break things" work well in Washington. The impact on Musk's businesses also began to hit home. A series of Space X launches ended in fiery failures, while Tesla shareholders fumed. Musk started musing about stepping back, saying that "DOGE is a way of life, like Buddhism" that would carry on without him. Finally, Musk showed the first signs of distance from Trump himself, saying he was "disappointed" in Trump's recent mega spending bill. Musk also said he would pull back from spending time on politics. The end came, appropriately, in a post by Musk on Wednesday on the X network, which he bought and then turned into a megaphone for his right-wing politics. But Musk's departure might not be the end of the story, said Kamarck. "I think they genuinely like each other and I think Musk has a lot of money that he can contribute to campaigns if he is so moved. I think there will be a continued relation," she said. dk-aue/sla Originally published as Elon Musk's rocket-fueled ride with Trump flames out
Yahoo
17 hours ago
- General
- Yahoo
Emergency services searching for child missing in the Thames
Emergency services are responding to reports of a child missing in the Thames. In a statement, His Majesty's Coastguard said it was responding to a report of two children into difficulty in the water near the Royal Terrace Pier in Gravesend, Kent. One child has been rescued, however, the search is ongoing for a second. "The alarm was raised at about 1.35pm," the statement said. "Metropolitan Police boats are attending as well as the RNLI lifeboat from Gravesend, Kent Police, and a police helicopter." The South East Coast Ambulance Service was also sent. It said a "male patient was assessed and treated" at the scene. He was taken to a local hospital for further medical treatment. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. You can receive Breaking News alerts on a smartphone or tablet via the Sky News App. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.
India.com
19 hours ago
- Politics
- India.com
Breaking News Today: দিনের সেরা ও গুরুত্বপূর্ণ খবর এক ঝলকে
Videos Breaking News Today: দিনের সেরা ও গুরুত্বপূর্ণ খবর এক ঝলকে | Zee 24 Ghanta Breaking News Today: Top and Most Important Headlines at a Glance Breaking News Today: Top and Most Important Headlines at a Glance | Updated: May 30, 2025, 08:50 PM IST Advertisement Breaking News Today: Top and Most Important Headlines at a Glance
India.com
a day ago
- Entertainment
- India.com
Breaking News Today: আজ সারা দিনের সারা ফেলে দেওয়া সেরা খবর
Videos Breaking News Today: আজ সারা দিনের সারা ফেলে দেওয়া সেরা খবর | 3 PM 3 News | Zee 24 Ghanta Breaking News Today: Top Headlines of the Day That Created a Buzz | 3 PM 3 News | Zee 24 Ghanta Breaking News Today: Top Headlines of the Day That Created a Buzz | 3 PM 3 News | Zee 24 Ghanta | Updated: May 30, 2025, 04:45 PM IST Advertisement Breaking News Today: Top Headlines of the Day That Created a Buzz | 3 PM 3 News | Zee 24 Ghanta
News18
a day ago
- Business
- News18
India's Economy Set For Strong FY26 Growth With Push In Global Economic Standing
Last Updated: India's economy in Purchasing Power Parity terms now stands at $15 trillion—more than half the size of the United States economy India's economy is poised for robust growth in the financial year 2025–26, with the Reserve Bank of India (RBI) projecting a real GDP expansion of 6.7 per cent. Backed by solid domestic demand, high capital expenditure, and improved agricultural prospects, the country continues to cement its position as one of the world's fastest-growing major economies. According to a report published in The Hindu Business Line, the RBI's quarterly GDP growth forecasts for FY26 stand at 6.7 per cent for Q1, 7.0 per cent for Q2, and 6.5 per cent each for Q3 and Q4. The central bank attributes this optimism to strong Rabi crop output, healthy reservoir levels, and a continuing recovery in manufacturing and services. The inflation outlook is also improving. CPI inflation is projected to average 4.8 per cent in FY25, with a further decline to 4.2 per cent anticipated in FY26. This moderation is expected due to easing food prices and effective monetary policy actions, helping maintain consumer purchasing power and support macroeconomic stability. A key contributor to this positive outlook is the rebound in household financial savings, which had declined in previous years. A Business Standard report notes that these savings have started to improve, reflecting increased disposable incomes and more prudent financial behaviour among Indian households. This resurgence in savings is likely to support consumption-led growth and provide a buffer against future economic shocks. On the global stage, India's economic footprint continues to grow. As highlighted by NITI Aayog Vice-Chairman Suman Bery, India's economy in Purchasing Power Parity (PPP) terms now stands at $15 trillion—more than half the size of the United States economy. 'This is a remarkable indicator of the real economic weight India holds globally," Bery was quoted as saying. This confidence in India's growth trajectory was shared by Chief Economic Adviser V Anantha Nageswaran at the Confederation of Indian Industry's (CII) Annual Business Summit. Speaking to Mint, he emphasised that India's growth continues to be broad-based and supported by structural reforms and resilient macroeconomic fundamentals. Nageswaran advised Indian industry to be prepared to deal with a stronger currency in the coming years by becoming more competitive through productivity improvements. From rising household savings to growing global stature and strong FDI flows, India's economic momentum appears not only sustained but also accelerating. With supportive fiscal policies, robust agricultural performance, and growing investor interest, FY26 could mark another milestone in India's journey toward becoming a global economic powerhouse. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published:
