The fall in Tesla shares led to the stock's market capitalisation taking a hit of $152 billion, falling below the $1 trillion threshold and closing at $916 billion.
Elon Musk has publicly clashed with President Donald Trump over a controversial Congressional spending bill, marking his first open disagreement since leaving his role as head of the Department of Government Efficiency (DOGE). Musk criticized the bill on X, labeling it as “outrageous” and warning it would raise the budget deficit to $2.5 trillion, potentially bankrupting the country. Despite Musk’s sharp remarks, the White House dismissed the criticism, with Press Secretary Karoline Leavitt stating that Musk's views would not influence the president. Trump continues to endorse the bill, calling it “unbelievable” and claiming it cuts deficits. Fiscal conservatives and analysts warn it could increase the deficit by up to $4 trillion over ten years. Meanwhile, the White House Council of Economic Advisers projects optimistic growth of 5.2% and cites $1.6 trillion in spending cuts. Musk, though present at a recent press conference, remained silent, signaling his deep disagreement.
Elon Musk’s Department of Government Efficiency is gaining access to federal data, sparking security concerns and legal challenges over privacy risks, according to The New York Times.
Modi is scheduled to arrive in Washington on February 12 and likely to meet with Trump on February 13
Grims said that a petition for the Tesla and SpaceX CEO's nomination for the Nobel Peace Prize had been submitted to the Norwegian Nobel Committee.
Given India's strong auto components ecosystem, the government is confident of achieving the target for value addition comfortably, before the stipulated time. The EV policy mandates 50% domestic value-addition, within a maximum of 5 years.
In an exclusive interview to Moneycontrol, Rajesh Kumar Singh said the tax cut offered via the EV policy cannot be termed as 'concessional'
To be sure, a general announcement is likely rather than a site-specific one pending a Tesla board approval for the location of a plant in India.
From the passing away of Warren Buffett's most trusted aide to Chinese firm's hunt for American pie, and Musk's cybertruck to Virgin Atlantic's cross-ocean flight, here's a look at the market from around the world
Spain's opposition right-wing won the elections with a hundred per cent votes counted... But it failed to secure a parliamentary majority. Top global private equity firm Bain Capital has entered into a definitive agreement to acquire 90% of Adani Capital and Adani Housing. The transaction will buy out 100% of the Adani family’s private investments. Musk to change the iconic bird logo of Twitter and replace it with an 'X'. To know what you need to look ahead of the upcoming week watch this edition of Newspresso with Moneycontrol's Stacy Pereira.
Elon Musk, CEO of Tesla, has recently announced the launch of a new artificial intelligence start-up called xAI. Recently he was also in the news after announcing that micro-blogging site Twitter is limiting tweets for non-paying users; and for Twitter's competition with Meta-owned Threads app. Musk has been known to do some outlandish things from time to time. We take a dive into how this billionaire went from getting bullied as a child to becoming one of the most successful and controversial men in tech. Watch his story.
EU-US Data Privacy Framework, and aims to ensure that data can flow safely between the EU and U.S., without having to put in place additional data protection safeguards. In Earnings Corner TCS Has Reported a first quarter earnings largely in-line with muted estimates. Net profit Is up 16.8% (yoY) at Rs 11,074 crore. On the trends front find out about Kazuyoshi Miura a fifty-six year old Japenese football player who refuses to retire. He is the oldest football player in the world. Watch this edition of Newspresso with Stacy Pereira for your morning dose of news!
Musk earlier met with China's ministers of industry and foreign affairs.
Twitter-owner Musk is assembling a team of AI researchers and engineers, according to the FT report, and is also in discussions with some investors in SpaceX and Tesla Inc about putting money into his new venture.
Elon Musk took control of Twitter and fired its top executives, US media reported late on Thursday, hours before the deadline for the billionaire to seal his on-again, off-again deal to purchase the social media network. Musk's initial moves at Twitter's helm included firing chief executive Parag Agrawal, who went to court to hold the Tesla chief to the terms of a takeover deal he had tried to escape. What does Musk have in store for the social media giant? Will he bring back Donald Trump? Where is Twitter headed from here on? Watch the video to find out.
Billionaire Elon Musk said on Wednesday he was entering Twitter Inc's San Francisco office, days ahead of a court-ordered deadline to close his $44 billion deal for the social media platform. "Entering Twitter HQ let that sink in!" said the caption to a video that Musk tweeted in which he was walking into the Twitter office carrying a sink in his hands. Hours earlier, he hinted at being the company's top boss after updating his profile's bio to "Chief Twit". How does Twitter make money and what plans does Musk have for Twitter? Watch the video to find out!
At the town hall event, to run from 1000-1700 CET, residents will be able to talk to Tesla employees and get information on water consumption as well as environmental and water protection at the plant, located in the German state of Brandenburg.
Now, numerous advertising executives say they’re willing to move their money elsewhere, especially if Musk removes the safeguards that allowed Twitter to remove racist rants and conspiracy theories.
Employees of Twitter and other social media companies said that Musk seemed to understand little about Twitter’s approach to content moderation and the problems that had led to its rules — or that he just did not care.
The Twitter situation shows how “we need to fundamentally change the approach to corporate governance,” said Palladino, associate professor of economics at the University of Massachusetts.
Even as Twitter’s board on Monday was debating his offer of $54.20 per share, which it accepted, Musk was setting the tone for his leadership by tweeting that Securities and Exchange Commission officials were “shameless puppets.”
Musk has given more hints about what he would change about Twitter — in interviews, regulatory filings and, of course, on his Twitter account.
And this is how Elon Musk responded to a journalist's tweet of his yearbook photo.