Author: Arabian Media staff
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldTesla’s market value suffered its biggest one-day drop on record on Thursday as an escalating feud between Donald Trump and Elon Musk triggered a sharp sell-off in the carmaker’s shares. The electric vehicle group’s shares closed down more than 14 per cent, erasing $153bn from its market capitalisation, after the US president signalled he could terminate US government contracts with Musk’s companies. “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldGoldman Sachs has reined in risk-taking due to market volatility triggered by Donald Trump’s trade war and fears that rising US debt will erode investor appetite for dollar-denominated assets, a senior bank executive has said.John Waldron, president and chief operating officer of the bank, told a Goldman podcast released on Thursday that the investment bank had “moderated our risk positioning” since the US president announced an across-the-board tariff increase on its trading partners on April 2, adding, “that’s a sensible…
President Donald Trump and billionaire Tesla CEO Elon Musk continued to clash Thursday, with Trump linking their fraying relationship to his administration’s efforts to reduce support for electric vehicles. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Kering, the owner of Gucci, is in exclusive talks with private equity firm Ardian to sell a majority stake in a prime Fifth Avenue property, as the French group tries to cut costs amid a slowdown in luxury demand. The New York building — bought just over a year ago — could become the second deal of this type that the Paris-listed luxury group has struck with Ardian, according to people familiar with the matter, after it agreed a similar deal to sell…
Image: Supplied As the Middle East cements its role as a global aviation powerhouse, all eyes are on the region’s rapidly expanding fleets, world-class carriers, and multi-billion-dollar infrastructure investments. In this interview, Gulf Business speaks to Aziz Koleilat, president and CEO of METCIS at GE Aerospace, to unpack the momentum behind the region’s aviation ascent. From national strategies shaping air travel to the emergence of the Middle East as a future MRO hub, Koleilat shares insights on what’s driving growth, the challenges ahead, and GE Aerospace’s priorities as it marks its first year as an independent company. The Middle East…
The Trump administration has warned its major trading partners that it is going to get tough on what it views as unfair trading practices, though it held off labeling any nation a currency manipulator. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Builder.ai collapsed owing money to an Israeli private intelligence outfit, a high-profile crisis communications specialist and one of the world’s most feared litigation law firms, the London tech group’s US bankruptcy filings have revealed.The Microsoft-backed start-up’s main US holding company filed for bankruptcy in Delaware on Monday, revealing unpaid bills and debts to a range of creditors, from key customers to big tech companies such as Amazon and Microsoft.The creditor list also included: Tel Aviv-based private intelligence firm Shibumi Strategy; top US…
Changes to the state-and-local tax deductions could threaten the delicate balance struck in the House Source link
An ETF manager or sponsor and an authorized sponsor or financial institution work with the U.S. Securities and Exchange Commission (SEC) to initiate a fund, acquire stock shares, and form ETF creation units. Stock shares are placed in trust to form ETF creation units. Key Takeaways Exchange-traded funds (ETFs) are commonly compared to mutual funds but they offer different benefits.An ETF manager or sponsor files a plan with the SEC to create an ETF. The sponsor forms an agreement with an authorized participant who is generally a market maker or an institutional investor.Stock shares are placed in trust to form ETF…
Truist analysts say they believe Dollar Tree and other retailers have done a better job staying flexible on where they get products. Source link