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Independent Singapore
12 hours ago
- Automotive
- Independent Singapore
Trump-Musk rift deepens, former allies now public foes
WASHINGTON, U.S.A.: Once a visible coalition, the bond between Donald Trump and Elon Musk has taken a jarring meltdown, with pressures, allegations, and political risks piling up on both sides. From allies to adversaries According to the latest Axios report, President Donald Trump made it clear in a Saturday talk that his connection and dealings with Elon Musk are over, and he is no longer interested in fixing or patching it up. 'I would assume so,' Trump stated when questioned if the relationship had been terminated. 'I think it's a shame that he's so depressed and so heartbroken,' he further said in a scathing comment about the tech magnate. Formerly known as an ally of the Trump administration and a supporter of the president's undertakings, Musk has changed course recently, vigorously lobbying against Trump's vital statutory initiatives—a comprehensive tax-and-spend proposal Musk has dubbed a 'disgusting abomination.' The Tesla and SpaceX CEO's headline-making disapproval of the bill impelled Trump to tag him as 'disrespectful to the office of the President.' See also The world's eyes are on Singapore's COVID endgame A warning over political funding In an aggravation that could have bigger and wider-ranging political costs, Trump delivered an indirect threat—Musk would be grappling with unlimited 'serious consequences' if he were to finance Democratic contenders fighting Republicans who back up Trump's purported 'big, beautiful bill.' The statement comes amid escalating pressures over Musk's unfolding political clout and its impact. While he contributed more than US$290 million to Republicans in the 2024 election cycle, Musk has just announced a withdrawal from political spending. Speaker of the House Mike Johnson (R-La.) interjected during ABC's This Week , warning that it would be a 'big mistake' for Musk to hit back against Republicans supporting Trump's regulation. Personal jabs and policy threats As the fight continues to unravel publicly, both men have taken personal jabs at each other. In a recent Oval Office attendance with German Chancellor Friedrich Merz, Trump said he was 'very disappointed' in Musk, asserting that the tycoon had exhaustive information and familiarity with the bill he now disapproves. In response, Musk live-posted refutations on X, even going so far as to infer that Trump was mentioned in the Jeffrey Epstein documents—a post that has since been removed. Trump canned the accusation, labelling it 'old news.' See also Reform Party chief accuses WP of conspiring with PAP The grudge has also morphed into policy ultimatums. Trump dispatched on Truth Social that the 'easiest way' to expurgate federal expenditure would be to abolish government agreements and appropriations tied to Musk's businesses. Asked by NBC if he was sincere, Trump stated he could do it but had not 'given it any thought.' For the time being, what started as a political difference has escalated into an absolute power struggle between two of the most dominant figures in conservative circles—one that could shape and define the narrative heading into November.
Bloomberg
12-05-2025
- Business
- Bloomberg
Romanian Bond Sale Lures Investors After Yield Jump as Leu Gains
Romania managed to attract solid demand in a domestic bond sale but the funding came at an increased price as political risks before the presidential run-off continued to weigh on investors' perception. The Black Sea nation sold 540 million lei ($118 million) of one-year bonds at an auction on Monday, with the average yield rising by about 1.5 percentage points to 8.45% compared with the previous reopening of the note last month. The auction, which registered 1.35 billion lei of bids, followed a turbulent week for Romanian assets in which bonds and stocks sold off and the currency fell to a record low.
