Latest news with #Trump-Musk
India.com
an hour ago
- Politics
- India.com
Trump-Musk fallout: Trump warns Musk of 'serious consequences' if Tesla boss..., says he doesn't wish to...
Donald Trump and Elon Musk had a public fallout earlier in the week. (File) Trump-Musk fallout: Days after his public fallout with former friend and aide Elon Musk, US President Donald Trump issued an ominous warning to the Tesla CEO, stating that Musk– the world's richest man– would have to pay 'serious consequences' if he funds Democratic candidates to run against Republicans who vote in support of his sweeping budget bill, which he has dubbed as the 'Big, Beautiful bill'. Trump warns Musk of serious consequences 'If he does, he'll have to pay the consequences for that, He'll have to pay very serious consequences if he does that.' Trump told NBC in a phone interview on Saturday, but refused to specify the said 'consequences'. Donald Trump said he does not wish to repair his ties with Elon Musk, and asked whether his relations with Musk were over, he said, 'I would assume so, yeah.' The US President said does not plan to speak to the SpaceX CEO anytime soon, stating he was 'too busy doing other things'. 'I have no intention of speaking to him,' he said. Trump also accused Musk of being 'disrespectful to the office of the President', saying 'I think it's a very bad thing, because he's very disrespectful. You could not disrespect the office of the President.' Earlier in the week, Donald Trump and Elon Musk had a very public fallout following which both fired stinging salvos on each other on social media. On Thursday, Musk targeted Trump in a series of posts on X, including a now-deleted post, where he accused the US President's name being in the infamous 'Epstein Files', claiming that Trump had ties with deceased sex offender Jeffrey Epstein. Responding to the allegations, Trump said it was 'old news' and he had connection to Epstein. 'That's called 'old news,' that's been old news, that has been talked about for years. Even Epstein's lawyer said I had nothing to do with it. It's old news.' Trump-Musk breakup Elon Musk, who until recently, was considered a close-aide and ally of Donald Trump, helmed the Department of Government Efficiency (DOGE) as a 'special government employee' for 130 days. After his exit, Musk criticised spending legislation, leading to a public fallout between the two. 'I'm very disappointed because Elon knew the inner workings of this bill. I'm very disappointed in Elon. I've helped Elon a lot,' Trump told reporters on Thursday. Following his statement, Musk launched several attacks on Trump on X, including a now-deleted post promoting a call for Trump to be impeached and another where he said the US President's tariff agenda would lead to a recession later this year. Trump fired back at Musk with a series of posts on his Truth Social platform. 'I don't mind Elon turning against me, but he should have done so months ago,' Trump wrote in one post, suggesting Musk knew what was in the bill before it was passed. Trump also threatened to terminate US government contracts given to Elon Musk-led firms, including SpaceX. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it,' Trump wrote. However, Trump told NBC that he hasn't given the idea any more thought 'I'd be allowed to do that, but I have…, I haven't given it any thought.' Elon Musk spent more than a quarter of a billion dollars on Trump's US Presidential campaign last year, which is believed to have helped Trump win several key swing states, according to NBC news. After Donald Trump began his second presidential term, Elon Musk the controversial Department of Government Efficiency (DOGE), where he oversaw mass layoffs of federal workers and the closure or partial closure of several agencies. According to Trump, his feud with Musk has made lawmakers see the benefits of the bill. 'I think, actually, Elon brought out the strengths of the bill because people who weren't as focused started focusing on it, and they see how good it is. 'So in that sense, there was a big favour. But I think Elon, really, I think it's a shame that he's so depressed and so heartbroken.' (With inputs from agencies)
Time of India
11 hours ago
- Politics
- Time of India
California unrest: How Los Angeles immigration protests turned ugly after citywide ICE operations
Hundreds of protesters rallied in Los Angeles late Friday afternoon, to condemn the ICE immigration raids that took place at three different locations across L.A. earlier in the day. US President Donald Trump is deploying 2,000 National Guardsmen in Los Angeles to deal with unrest over raids on undocumented migrants. His border czar, Tom Homan, told Fox News on Saturday: "We are making Los Angeles safer." Here are ten points you need to know on California protests: -On Saturday, California witnessed unrest for second day in a row as residents of a predominantly Latino district clashed with Immigration and Customs Enforcement (ICE) federal agents. Cops resorted to tear gas and batons to disperse crowds in the Paramount district. -The protests broke out following dozens of arrests the day prior in citywide Immigration and Customs Enforcement operations. On Friday, ICE officers executed search warrants at multiple locations including outside a clothing warehouse in the Fashion District, reports CBS News by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mini House for 60 sqm for Seniors with Toilet and Bath (Click Here) Pre Fabricated Homes | Search Ads Search Now Undo -The action came after a judge found probable cause that the employer was using fictitious documents for some of its workers, according to representatives for Homeland Security Investigations and the US Attorney's Office. ALSO READ: Trump deploys 2,000 national guard troops to LA amid growing anti-ICE protests Live Events -A tense scene unfolded as a crowd attempted to prevent agents from leaving in their vehicles. Meanwhile, protests on Friday also erupted around a federal building in downtown Los Angeles, after demonstrators heard reports that detainees were allegedly being held in the building's basement. -Advocates for immigrants' rights said there were also migration detentions outside Home Depot and Dale's Donuts stores. On Saturday, protests erupted in the L.A. County city of Paramount after it appeared that federal law enforcement officers were conducting another immigration operation there. -The Department of Homeland Security announced that recent ICE operations in Los Angeles led to the arrest of 118 immigrants this week, with 44 of those detained during Friday's actions. According to the DHS, the arrests included five individuals connected to criminal organizations, as well as others with prior criminal records. ALSO READ: Amid Trump-Musk spat, Tesla CEO's immigration status under scanner. Can President deport him? -Following the Friday arrests, protesters gathered in the evening outside a federal detention center, chanting, "Set them free, let them stay!" Some held signs with anti-ICE slogans, and some scrawled graffiti on the building. -Secretary of Defence Pete Hegseth wrote on X that his department was "mobilising the National Guard IMMEDIATELY to support federal law enforcement in Los Angeles". "And, if violence continues, active duty Marines at Camp Pendleton will also be mobilised - they are on high alert," he added. ALSO READ: Thomas Fugate: A novice who replaced an army veteran to lead US terror prevention centre -The California governor, Gavin Newsom, said in a statement on X that the federal government was 'moving to take over' the California national guard. Newsom said the mobilization was 'purposefully inflammatory' and warned that it would 'only escalate tensions'. 'The federal government is taking over the California National Guard and deploying 2,000 soldiers in Los Angeles — not because there is a shortage of law enforcement, but because they want a spectacle,' he said later. 'Don't give them one.' -Trump hit out at the governor on his Truth Social platform, saying that if he and Bass could not do their jobs, "then the Federal Government will step in and solve the problem, RIOTS & LOOTERS, the way it should be solved!!!"
Yahoo
21 hours ago
- Automotive
- Yahoo
Is Musk Starting a New Political Party Amid Trump Feud?
Elon Musk speaks during a Town Hall event at the KI Convention Center in Green Bay, Wisconsin, on March 30, 2025. Credit - Joshua Lott—The Washington Post In an escalation of Elon Musk's fractured relationship with President Donald Trump and his Republican allies, the Tesla CEO has floated the idea of starting a new political party to rival the two-party system. Musk conducted a poll via his social media platform X (formerly Twitter), asking his 220 million followers: 'Is it time to create a new political party in America that actually represents the 80% in the middle?' The public results show that around 80% of respondents voted yes. 'The people have spoken. A new political party is needed in America to represent the 80% in the middle!' Musk said, reacting to the results of his Thursday, June 5, poll. 'And exactly 80% of people agree…This is Fate.' On Friday, Musk shared a potential name: "The America Party." The moniker echoes that of his super political action committee (PAC), America PAC, which was founded in 2024 to support Trump's efforts to return to the White House. The super PAC reportedly spent around $200 million to help elect Trump. Musk's donations made him Trump's largest, and most prominent, donor in the 2024 election. Read More: 5 Things To Watch As the Trump-Musk Meltdown Proceeds In 2016 and 2020, Musk voted for Trump's Democratic opponents—Hillary Clinton and former President Joe Biden, respectively. But during the 2022 midterm elections, Musk said he intended to vote Republican, and that later developed into him becoming Trump's close ally, which was cemented when the President positioned him as lead of the Department of Government Efficiency (DOGE), a role he held until recently. However, Trump and Musk have now had an explosive fall-out, which has played out in the public arena via social media over the past few days. It started with Musk's disapproval over Trump's 'Big, Beautiful Bill,' which he called an "abomination" and told his social media followers to 'call your Senator, call your Congressman… kill the bill.' On Thursday, the back-and-forth between the two influential men escalated, with Musk alleging that Trump is listed in the files related to the late financier and sex offender Jeffrey Epstein. 'That is the real reason they have not been made public,' Musk said. He did not provide evidence pertaining to this and, as of early Saturday morning, the post has been deleted. Musk also, in another since-deleted X post, endorsed a message that said: "Trump should be impeached" and that Vance "should replace him." Trump has argued on his own social media platform, Truth Social, that "Elon was wearing thin" and that he asked the Tesla CEO to leave the White House. Read More: Musk's Major Allegation Against Trump Disappears From Social Media: 'That Post Has Been Deleted' Meanwhile, when talking to reporters aboard Air Force One on Friday night, Trump said he didn't have any plans to speak with Musk. But some lawmakers are convinced that the feud between Trump and Musk will soon thaw, and that the latter's idea for a new political party won't come to fruition. On Friday, Republican Rep. Jimmy Patronis of Florida told NewsNation's Blake Burman: 'Elon Musk is not gonna create a new political party... Trump knows that sometimes you're going to have [a] falling out with those that you trust, you like, that you're friends with. It happens with us in D.C. all the time. Mark my words, about a month from now, these guys will be hanging around again.' Contact us at letters@
Time of India
a day ago
- Business
- Time of India
Here's how FBI director Kash Patel got to know about the Donald Trump-Elon Musk ‘big' public fight
FBI Director Kash Patel learned about the public dispute between US President Donald Trump and Tesla CEO Elon Musk during the taping of a Joe Rogan podcast . During the podcast, Patel was specifically informed about Musk's accusation linking Trump to the 'Epstein Files.' Patel, who has recently faced criticism from some supporters for distancing himself from conspiracy theories related to Jeffrey Epstein since becoming FBI director, appeared surprised by the tech billionaire's tweets about Trump's past association with Epstein. The interaction occurred as the relationship between Trump and Musk, who is a significant financial supporter of Trump's campaign and a figure in the Department of Government Efficiency (DOGE), experienced a notable public breakdown earlier this week. Rogan paused his interview with Patel to inform the FBI chief of Musk's statements. What the FBI director Kash Patel said about the Trump-Musk dispute on Joe Rogan's podcast 'That's way outside my lane,' Patel noted, as Rogan asked, 'what the f**k' was going on between the president and his former 'first buddy.' About an hour into The Joe Rogan Experience recording, Musk responded to Trump's remark that he was 'disappointed' by the Tesla CEO's continued criticisms of the 'Big, Beautiful Bill' that Republicans are working to pass. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025: Steel Suppliers From Mexico At Lowest Prices (Take A Look) Steel Suppliers | search ads Search Now Undo After Musk's recent departure from the administration as a 'special government employee,' the tech mogul has become more vocal in opposing the president's legislation, arguing that it would 'bankrupt' the country. Shortly before Musk shared his X post, Patel had spent a large part of his Rogan interview trying to convince the conspiracy-minded podcast host that Epstein did commit suicide. Patel and his deputy director, Dan Bongino, both of whom had previously supported the idea that Epstein was murdered in jail, have faced criticism from right-wing influencers for now stating that the available evidence points to Epstein taking his own life. As Rogan began speculating whether Patel and the FBI had footage of Epstein's island residence, the show's producer interrupted to inform them that Musk had just made his allegation about Trump. What to Expect at WWDC 2025: iOS 19, AI, M4 Macs & More AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
a day ago
- Business
- Yahoo
Morning Bid: Trump-Musk bust-up smolders
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today Donald Trump's hotly anticipated meetings with the leaders of the world's two other biggest economies ended up being sideshows compared to his online bust-up with billionaire backer Elon Musk. It's Friday, so today I'll provide a quick overview of what's happening in global markets and then offer you some weekend reading suggestions away from the headlines. Today's Market Minute * White House aides scheduled a call between Donald Trump and Elon Musk for Friday, Politico reported, after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the U.S. president should be impeached. * U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks. * China has signalled for more than 15 years that it was looking to weaponise areas of the global supply chain, a strategy modelled on longstanding American export controls Beijing views as aimed at stalling its rise. The scramble in recent weeks to secure export licences for rare earths shows China has devised a better, more precisely targeted weapon for the trade war. * By any measure, the recent resilience of U.S. stocks is remarkable, with Wall Street powering through numerous headwinds to erase all its tariff-fueled losses and move into positive territory for the year. Reuters columnist Jamie McGeever explains why the rally may still have some juice left in it. * There are some tentative early signs that weak thermal coal prices are starting to boost import demand among Asia's heavyweight buyers China and India. Read Reuters Columnist Clyde Russell to find out more. Trump-Musk bust-up smolders For markets trying to navigate everything from creeping signs of labor market weakness to the latest European Central Bank easing, the spat between the U.S. president and the world's richest man proved more than a distraction. It remains to be seen if it overshadows the May payrolls report later on Friday. The extraordinary sparring match drew in other major political and business figures and included potentially seismic accusations and threats. In turn, the share price of Musk's Tesla plummeted almost 20% at one point, dragging Wall Street stock indexes and crypto tokens deep into the red. The public feud appeared to cool off somewhat overnight and allowed stock futures to regain some lost ground. But the fact that the spat overshadowed the other major events of the day was another marker of this administration's unpredictability. The substance of the row was over Trump's "one big beautiful" fiscal bill that Musk thinks is a "disgusting abomination" due to the amount of spending. The bill, which has yet to be passed by the Senate, is expected to add $2.4 trillion to the U.S. debt over the next decade, based on CBO estimates. The vast bulk of this will likely be incurred over the next four years. In the background, the call between Trump and China's President Xi Jinping delivered no breakthroughs in the trade row apart from warmer words and an agreement to resume talks. The Oval Office meeting with Germany's Chancellor Friedrich Merz was relatively positive about trade and diplomatic issues. Earlier in the day, the ECB cut rates again as expected and suggested that there may be a pause at its next meeting and that it could be near the end of its easing cycle now that 'real' inflation-adjusted rates are back near zero. The euro hit a six-week high on Thursday regardless, although it gave back those daily gains today. Rising weekly U.S. jobless claims, meantime, cast a shadow over today's release of the May employment report. Consensus forecasts are for a slowdown in payroll growth to 130,000. Treasury yields, which ebbed and flowed all day on the conflicting signals from the trade meetings and stock gyrations, are back hovering at the week's lows ahead of the jobs report. Even though Federal Reserve officials continue to signal caution about the uncertain outlook ahead, markets are now priced for a resumption of Fed cuts by September. Into the already confusing mix, the Treasury released its annual report on potential currency manipulation overseas, adding Switzerland and Ireland to its watchlist, which already includes China, Japan, Germany, South Korea, Taiwan, Singapore and Vietnam. The list likely carries more heft than usual amid multiple tense trade negotiations. Markets assume the U.S. may pressure other countries to let their currencies appreciate versus the dollar as part of deals to avert severe tariffs being re-imposed next month. The Swiss National Bank responded on Friday by saying it would intervene in currency markets where necessary to keep inflation on track. Intervention to cap a super-strong franc has been a critical monetary tool used over the past decade and may need to be tapped again now that Swiss inflation has returned negative just as the SNB's key interest rate is set to return to zero in June. Elsewhere, China's yuan slipped against the dollar while falling to a near two-year low versus its major trading partners on Friday as the Trump-Xi call fell short of many expectations. Stock markets overseas were mixed on Friday as Wall Street remained on edge and the U.S. jobs report loomed. In the euro zone, first-quarter GDP was revised higher to show twice the growth originally estimated: 0.6% quarter-on-quarter, leading to an annual rate of 1.5%. India's central bank cut key rates by a larger-than-expected 50 basis points to 5.5%, its steepest cut in five years. It also slashed its cash reserve ratio - funds that banks are required to hold - by 100 bps to 3% in a surprise move aimed at boosting lending and speeding up policy transmission. In single stocks, Tesla shares recovered around 5% in Frankfurt on Friday, having closed down 14% in New York yesterday amid the Trump-Musk spat. It lost about $150 billion in market value yesterday, which caused the erstwhile member of the 'Magnificent Seven' megacaps to drop to ninth in the list of most-valuable firms behind Broadcom and Berkshire Hathaway. Broadcom's shares, however, fell 4% in extended trading overnight as its forecast-beating earnings seemed to underwhelm the Street. In Bank of America's weekly tally of fund flows, U.S. stocks saw outflows of $7.5 billion, the third week of exits, while European shares saw inflows of $2.6 billion, the eighth week of inflows. Weekend reading suggestions * 'BLUE BONDS': European countries should seize the moment to boost the size and liquidity of jointly-issued euro sovereign debt, and a solution could be to replace a proportion of the stock of national bonds with senior Eurobonds, or 'blue bonds'. So says a 'working document' from Peterson Institute senior fellow and former IMF chief economist Olivier Blanchard in a paper jointly written with Citadel's Angel Ubide. * NUCLEAR BLIND SPOTS: United Nations nuclear watchdogs appear to have lost track of some critical elements of Iran's nuclear activities since U.S. President Donald Trump ditched a 2015 deal that imposed strict restrictions and close supervision by the International Atomic Energy Agency. Reuters Francois Murphy and John Irish report on key blind spots that include not knowing how many centrifuges Iran possesses or where the machines and their parts are produced and stored. * OCEAN ECONOMY: Trade in the global 'ocean economy' hit as much as $2.2 trillion in 2023, about 7% of total world trade, but this trade is increasingly threatened by climate change and environmental problems, the United Nations trade and development arm UNCTAD showed in a report this week. The ocean economy grew faster than the world economy at large in the five years to 2020 and an estimated 100 million jobs depend on it. * 'TRUMP DOCTRINE': The emerging foreign policy under President Donald Trump resembles a 'look the other way' doctrine or a 'none of our business' doctrine, argues former George W. Bush State Department official Richard Haass on Project Syndicate. "The U.S. sought to change the world, annoying some and inspiring others. Those days are gone, in some ways for better, but mostly for worse. The US has changed. It is coming to resemble many of the countries and governments it once criticized." * MAGNETIC FEW: A small team in China's Ministry of Commerce decides the fate of the global auto industry, one rare earth magnet export permit at a time. China holds a near-monopoly on rare earth magnets, a key component in electric vehicle motors, and it added them to an export control list in April as part of its trade war with the United States. Reuters' Laurie Chen and Lewis Jackson show how it falls to the Bureau of Industrial Security and Import and Export Control, part of China's Ministry of Commerce, to review export permits for the rare earth magnets, vital for car motors, wind turbines and even U.S. F-35 fighter jets. * FINANCE AND AI: Artificial intelligence advances in the financial sector offer enhanced data analysis, risk management and capital allocation, but there are problems too, according to a paper on CEPR's VoxEU website. As AI systems become more widespread, they introduce challenges for regulators tasked with balancing the benefits of innovation with the need for financial stability, market integrity, consumer protection and fair competition. * DRONE ATTACK: Ukraine's 'Operation Spider's Web' last weekend used smuggled drones to attack bomber aircraft deep inside Russia, and the 'remarkable event' could affect the future of conflict, argues Council on Foreign Relations fellow Michael Horowitz. The attack "clearly shows that even targets deep in a country's territory could now be at risk". * IMF EUROPE: The case for closer European economic integration has become more compelling as external challenges multiply, according to Alfred Kammer, director of the International Monetary Fund's European Department. Stressing the need for the completion of the single market, Kammer said capital markets integration has been too slow and that cross-border flows have been frustrated by persistent fragmentation. "If history is a guide, Europe can turn adversity to advantage." * ALPINE TRUSTS: Liechtenstein is examining tightening control of scores of Russian-linked trusts abandoned by their managers under pressure from Washington. Reuters' John O'Donnell and Oliver Hirt cite sources in reporting that the country, one of the world's smallest and richest, is home to thousands of low-tax trusts, hundreds with links to Russians. Chart of the day Supply chain stress ticked up in May, data from the Federal Reserve Bank of New York said on Thursday. The bank noted that its Global Supply Chain Pressure Index for May rose to 0.19 from -0.28 in April, only the second time it stood in positive territory this year and the highest reading since the 0.20 seen in August of last year. Although the index remains subdued compared to the post-pandemic surge, growing concerns about the impact of the tariff war - particularly the impact of China's restrictions on rare earth and minerals exports on the global auto industry - will ensure policymakers keep a close eye on these pressures for any signs of re-emerging inflation. Today's events to watch * U.S. May employment report (8:30 AM EDT), April consumer credit (3:00 PM EDT); Canada May employment report (8:30 AM EDT) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Mike Dolan; Editing by Anna Szymanski)
