Latest news with #QuilterCheviot
Sydney Morning Herald
a day ago
- Business
- Sydney Morning Herald
‘Went too far': Musk says he regrets ‘some' of his posts about Trump
'The conciliatory tone from Musk recently might indicate his desire to protect his businesses in the light of the position he has found himself in,' said Mamta Valechha, consumer discretionary analyst at Tesla investor Quilter Cheviot. Loading Tesla shareholder Matthew Britzman, an analyst at Hargreaves Lansdown, said both Musk and Trump appeared to have de-escalated the situation. 'It still feels unlikely that we'll see these two giant personalities so closely intertwined again, but it's in neither's best interest to let the drama continue,' he said. Shawn Campbell, adviser and investor at Camelthorn Investments, said the relationship between Musk and Trump could be restored but also said it was unlikely it would return to where it once was. Trump last week threatened to terminate government contracts with Musk's companies. 'The stakes between the richest man in the world and leader of the most powerful nation in the world are just so big, with billions of dollars of government contracts at stake, not to mention the power to investigate and regulate and tax,' said Campbell, who personally holds Tesla shares. Vance and White House chief of staff Susie Wiles spoke to Musk on Friday, one of the people briefed said. That same day, James Fishback, a Tesla investor and external DOGE adviser, posted on X that the billionaire owed Trump 'a full-throated apology.' Musk retorted: 'What's the apology for exactly.' But Musk subsequently deleted several posts, and a senior Trump adviser called Fishback to thank him, according to one of the sources. Musk bankrolled a large part of Trump's 2024 presidential campaign, spending nearly $US300 million ($460 million) in last year's US elections and taking credit for Republicans retaining a majority of seats in the House and retaking a majority in the Senate. Loading Trump then named him to head an effort to downsize the federal workforce and slash spending. Musk left the role late last month after criticising Trump's marquee tax bill, calling it too expensive and a measure that would undermine his work at the Department of Government Efficiency. Declaring their relationship over on Saturday, Trump said there would be 'serious consequences' if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill. Trump also said he had no intention of repairing ties with Musk. On Monday, Trump said he would not have a problem if Musk called and that he had no plans to discontinue the Starlink satellite internet provided to the White House by Musk's SpaceX but might move his Tesla off-site. 'We had a good relationship, and I just wish him well,' Trump said. Musk responded with a heart emoji to a video on X showing Trump's remarks. Tesla shares have recouped all the losses they suffered during the public feuding between Trump and Musk last Thursday, when more than $US150 billion ($231 billion) was wiped off the company's market value.
The Age
a day ago
- Business
- The Age
‘Went too far': Musk says he regrets ‘some' of his posts about Trump
'The conciliatory tone from Musk recently might indicate his desire to protect his businesses in the light of the position he has found himself in,' said Mamta Valechha, consumer discretionary analyst at Tesla investor Quilter Cheviot. Loading Tesla shareholder Matthew Britzman, an analyst at Hargreaves Lansdown, said both Musk and Trump appeared to have de-escalated the situation. 'It still feels unlikely that we'll see these two giant personalities so closely intertwined again, but it's in neither's best interest to let the drama continue,' he said. Shawn Campbell, adviser and investor at Camelthorn Investments, said the relationship between Musk and Trump could be restored but also said it was unlikely it would return to where it once was. Trump last week threatened to terminate government contracts with Musk's companies. 'The stakes between the richest man in the world and leader of the most powerful nation in the world are just so big, with billions of dollars of government contracts at stake, not to mention the power to investigate and regulate and tax,' said Campbell, who personally holds Tesla shares. Vance and White House chief of staff Susie Wiles spoke to Musk on Friday, one of the people briefed said. That same day, James Fishback, a Tesla investor and external DOGE adviser, posted on X that the billionaire owed Trump 'a full-throated apology.' Musk retorted: 'What's the apology for exactly.' But Musk subsequently deleted several posts, and a senior Trump adviser called Fishback to thank him, according to one of the sources. Musk bankrolled a large part of Trump's 2024 presidential campaign, spending nearly $US300 million ($460 million) in last year's US elections and taking credit for Republicans retaining a majority of seats in the House and retaking a majority in the Senate. Loading Trump then named him to head an effort to downsize the federal workforce and slash spending. Musk left the role late last month after criticising Trump's marquee tax bill, calling it too expensive and a measure that would undermine his work at the Department of Government Efficiency. Declaring their relationship over on Saturday, Trump said there would be 'serious consequences' if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill. Trump also said he had no intention of repairing ties with Musk. On Monday, Trump said he would not have a problem if Musk called and that he had no plans to discontinue the Starlink satellite internet provided to the White House by Musk's SpaceX but might move his Tesla off-site. 'We had a good relationship, and I just wish him well,' Trump said. Musk responded with a heart emoji to a video on X showing Trump's remarks. Tesla shares have recouped all the losses they suffered during the public feuding between Trump and Musk last Thursday, when more than $US150 billion ($231 billion) was wiped off the company's market value.
Glasgow Times
12-05-2025
- Business
- Glasgow Times
US-China tariff deal helps tech firms but they ‘remain in Trump's crosshairs'
The two countries have agreed to cut most reciprocal tariffs for 90 days after negotiations in Switzerland over the weekend. Before the deal, each country had tariffs in excess of 120% placed on the import of the other's goods, with US tech giants particularly exposed to those tariffs given that many of the biggest firms have their manufacturing base in China. It has led to reports and concerns that the price of many key electronic gadgets would go up – with gaming firms Sony and Microsoft already confirming price rises for their consoles – and questions raised about what the tariffs could mean for smartphone and other gadget prices in the months to come. Ben Barringer, global technology analyst at investment firm Quilter Cheviot, said news of a deal between the US and China was good news broadly for the global economy, as well as for the tech sector. 'Today's announcement of a US-China deal on tariffs is positive on a number of fronts. Firstly, it is a de-escalation of the trade war which had got to the point of effectively ceasing any meaningful trade between the US and China,' he told the PA news agency. 'Secondly, this has been a very professional and well managed announcement – it highlights the seriousness of things and ensures markets and companies can respond accordingly. 'The terms of the deal also show the two sides are working to prevent any decoupling of the world's two largest economies. And finally, we now have a high and low watermark for tariffs following the UK and China deals, meaning investors now know the playing field and allowing it to articulate the problem and as such the appropriate response. 'This is why we have seen share prices react positively. Within the tech sector specifically, we are essentially seeing a reversal of the losers when the tariffs were first announced, with Apple rebounding strongly. It has the largest exposure to goods being imported from China so it is natural that it is the big beneficiary here. 'However, the removal of the uncertainty also allows the economic picture to improve somewhat – although worth noting these are still harsh tariffs and we don't know what awaits at the end of the 90 days. 'As a result, IT and advertising spend can be properly planned, and consequently pre-market share prices in the likes of Meta have risen sharply too. Everything will benefit as a result of a brighter economic environment compared to yesterday.' But the industry expert warned that all the tariff issues facing the tech sector were not yet solved, as the US president is still to announce specific plans around tariffs on some electronics and semiconductors which were previously given a tariff exemption by Mr Trump. The White House has said those exemptions would only be temporary while more permanent rates were worked out. 'It is worth noting that tech is not out of the crosshairs of Donald Trump yet, however. We await his plans for the semiconductor industry, with reforms already being trailed,' Mr Barringer said. 'Trump will want chips being made in the US for the US, so there may be a bit of divergence here compared to the overall deal announced. 'This is expected in the coming days, so as ever it is rarely boring when trying to assess Donald Trump's policy decisions on listed companies.'
South Wales Guardian
12-05-2025
- Business
- South Wales Guardian
US-China tariff deal helps tech firms but they ‘remain in Trump's crosshairs'
The two countries have agreed to cut most reciprocal tariffs for 90 days after negotiations in Switzerland over the weekend. Before the deal, each country had tariffs in excess of 120% placed on the import of the other's goods, with US tech giants particularly exposed to those tariffs given that many of the biggest firms have their manufacturing base in China. It has led to reports and concerns that the price of many key electronic gadgets would go up – with gaming firms Sony and Microsoft already confirming price rises for their consoles – and questions raised about what the tariffs could mean for smartphone and other gadget prices in the months to come. Ben Barringer, global technology analyst at investment firm Quilter Cheviot, said news of a deal between the US and China was good news broadly for the global economy, as well as for the tech sector. 'Today's announcement of a US-China deal on tariffs is positive on a number of fronts. Firstly, it is a de-escalation of the trade war which had got to the point of effectively ceasing any meaningful trade between the US and China,' he told the PA news agency. 'Secondly, this has been a very professional and well managed announcement – it highlights the seriousness of things and ensures markets and companies can respond accordingly. 'The terms of the deal also show the two sides are working to prevent any decoupling of the world's two largest economies. And finally, we now have a high and low watermark for tariffs following the UK and China deals, meaning investors now know the playing field and allowing it to articulate the problem and as such the appropriate response. 'This is why we have seen share prices react positively. Within the tech sector specifically, we are essentially seeing a reversal of the losers when the tariffs were first announced, with Apple rebounding strongly. It has the largest exposure to goods being imported from China so it is natural that it is the big beneficiary here. 'However, the removal of the uncertainty also allows the economic picture to improve somewhat – although worth noting these are still harsh tariffs and we don't know what awaits at the end of the 90 days. 'As a result, IT and advertising spend can be properly planned, and consequently pre-market share prices in the likes of Meta have risen sharply too. Everything will benefit as a result of a brighter economic environment compared to yesterday.' But the industry expert warned that all the tariff issues facing the tech sector were not yet solved, as the US president is still to announce specific plans around tariffs on some electronics and semiconductors which were previously given a tariff exemption by Mr Trump. The White House has said those exemptions would only be temporary while more permanent rates were worked out. 'It is worth noting that tech is not out of the crosshairs of Donald Trump yet, however. We await his plans for the semiconductor industry, with reforms already being trailed,' Mr Barringer said. 'Trump will want chips being made in the US for the US, so there may be a bit of divergence here compared to the overall deal announced. 'This is expected in the coming days, so as ever it is rarely boring when trying to assess Donald Trump's policy decisions on listed companies.'
North Wales Chronicle
12-05-2025
- Business
- North Wales Chronicle
US-China tariff deal helps tech firms but they ‘remain in Trump's crosshairs'
The two countries have agreed to cut most reciprocal tariffs for 90 days after negotiations in Switzerland over the weekend. Before the deal, each country had tariffs in excess of 120% placed on the import of the other's goods, with US tech giants particularly exposed to those tariffs given that many of the biggest firms have their manufacturing base in China. It has led to reports and concerns that the price of many key electronic gadgets would go up – with gaming firms Sony and Microsoft already confirming price rises for their consoles – and questions raised about what the tariffs could mean for smartphone and other gadget prices in the months to come. Ben Barringer, global technology analyst at investment firm Quilter Cheviot, said news of a deal between the US and China was good news broadly for the global economy, as well as for the tech sector. 'Today's announcement of a US-China deal on tariffs is positive on a number of fronts. Firstly, it is a de-escalation of the trade war which had got to the point of effectively ceasing any meaningful trade between the US and China,' he told the PA news agency. 'Secondly, this has been a very professional and well managed announcement – it highlights the seriousness of things and ensures markets and companies can respond accordingly. 'The terms of the deal also show the two sides are working to prevent any decoupling of the world's two largest economies. And finally, we now have a high and low watermark for tariffs following the UK and China deals, meaning investors now know the playing field and allowing it to articulate the problem and as such the appropriate response. 'This is why we have seen share prices react positively. Within the tech sector specifically, we are essentially seeing a reversal of the losers when the tariffs were first announced, with Apple rebounding strongly. It has the largest exposure to goods being imported from China so it is natural that it is the big beneficiary here. 'However, the removal of the uncertainty also allows the economic picture to improve somewhat – although worth noting these are still harsh tariffs and we don't know what awaits at the end of the 90 days. 'As a result, IT and advertising spend can be properly planned, and consequently pre-market share prices in the likes of Meta have risen sharply too. Everything will benefit as a result of a brighter economic environment compared to yesterday.' But the industry expert warned that all the tariff issues facing the tech sector were not yet solved, as the US president is still to announce specific plans around tariffs on some electronics and semiconductors which were previously given a tariff exemption by Mr Trump. The White House has said those exemptions would only be temporary while more permanent rates were worked out. 'It is worth noting that tech is not out of the crosshairs of Donald Trump yet, however. We await his plans for the semiconductor industry, with reforms already being trailed,' Mr Barringer said. 'Trump will want chips being made in the US for the US, so there may be a bit of divergence here compared to the overall deal announced. 'This is expected in the coming days, so as ever it is rarely boring when trying to assess Donald Trump's policy decisions on listed companies.'
