Author: Arabian Media staff

Credit: Getty Images Donald Trump threatened on Thursday to cut off government contracts to Elon Musk‘s companies and the world’s richest man suggested the US president should be impeached, marking a stark end to an unlikely alliance and leaving onlookers wondering what was next. The hostilities between the former allies intensified when the president criticised Tesla CEO Musk in the Oval Office and the pair then lobbed verbal barbs at each other on their social media platforms: Trump‘s Truth Social and Musk‘s X. “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump posted. Tesla shares closed…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldBen & Jerry’s co-founder Ben Cohen said corporate America’s retreat from efforts to boost diversity and inclusion amounted to “appeasement”, as the campaigning businessman claimed consumers cared more than ever about corporate “purpose”.Companies ranging from Goldman Sachs and Citigroup, to Walt Disney and McDonald’s, have scaled back diversity targets or policies under pressure from US President Donald Trump, who is waging war on “illegal and immoral” diversity, equity and inclusion programmes.Cohen told the Financial Times in an interview that he…

For the first time in almost a generation, governments are starting to face regular resistance from investors when they try to sell long-term debt Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is an FT contributing editor and writes the Chartbook newsletter Europe is in the midst of a huge surge of spending on defence. Over the past decade, military budgets in the EU have doubled. The justification, seemingly, is obvious. Europe’s defences are dilapidated. The threat from Russia is real.But pause for a second to consider the facts.The decade before Russia’s invasion was not a “lost decade” for Europe’s soldiers. According to SIPRI data, the cumulative spending of Europe’s Nato members over…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The last 12 months have been great for Walmart, with its stock price rising on growing sales. And it’s all happening despite impending tariffs, and without adding more employees. Today on the show, US consumer editor Gregory Meyer joins Rob Armstrong to discuss what Walmart’s success can tell us about the future of American retail. Also, they go short online sports gambling and short New Jersey transit. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert…

This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here.Good morning. The central bank will announce its rate decision later today. Going by our poll on Tuesday, most of you seem to be expecting a 0.5 percentage point cut. If I were being optimistic I’d agree, but realistically I expect it to be 0.25 — we’ll soon see which is right.In other news: we’ve just passed the six-month mark since India Business Briefing was launched (yay!). I wanted to say…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Boston Consulting Group has fired two partners for “unauthorised work” related to a contentious US-backed effort to overhaul aid distribution in Gaza.The consultancy said on Thursday that the pair “failed to disclose the full nature of the work during the client acceptance process” and carried out subsequent unauthorised work “in violation of BCG’s policies and protocols”.The partners had been “exited from the firm”, it said, without naming them.BCG’s work to help establish an aid effort that became the Gaza Humanitarian Foundation has…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.HSBC’s longtime chair Sir Mark Tucker will step down in September to become non-executive chair of Hong Kong-based insurer AIA.Tucker, who has served as chair of the UK-headquartered bank for nearly eight years, had said last month he would retire from the board.The head of HSBC’s audit committee, Brendan Nelson, will take over as interim chair while the bank continues its search for a permanent replacement, said HSBC.Tucker previously served as chief executive of AIA from 2010 to 2017.This is a developing…

Winnebago’s stock dropped after the RV maker issued a profit warning and said it was cutting jobs, as the Trump presidency hasn’t provided the retail momentum that was hoped for. Source link

Options traders piled into bearish bets on Tesla Inc. stock on Thursday at the fastest pace on record as a feud between President Trump and Tesla CEO Elon Musk escalated, causing the electric-vehicle maker to tally its biggest drop in market capitalization on record. Source link