Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signaling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire’s short-lived bid in 2018 to take the company private.Tesla sells in other Middle Eastern countries, but not in Saudi Arabia, the Gulf region’s largest market, where EVs only account for 1% of total car sales. The brand has had considerable success in neighboring United Arab Emirates, where most ride-hailing apps offer electric vehicles.The dispute started when Musk tweeted in 2018 he had “funding secured” to take Tesla private after a meeting with Saudi…
Author: usaeverydaylife
Muhammed Selim Korkutata | Anadolu | Getty ImagesPresident Donald Trump said he may reduce tariffs on China to facilitate a deal that would result in ByteDance selling the U.S. operations of TikTok.China “is going to have to play a role” in approving a TikTok-related divestiture, Trump said in a press conference Wednesday. “Maybe I’ll give them a little reduction in tariffs or something to get it done,” Trump said. “TikTok is big, but every point in tariffs is worth more than TikTok.”Although a national security law requires ByteDance to divest TikTok’s U.S. operations or face an effective ban in the…
The direction of average tariff rates is up, Barclays says Whether President Trump will indeed soften his approach to tariffs as he has recently suggested is uncertain, but one thing that is clear is that average tariff rates are rising, according to Barclays.”We think the direction of travel is clear: average tariff rates are increasing, likely to levels not seen since before World War II,” the firm’s Michael McLean wrote Wednesday.”At the end of 2024, the US weighted average tariff rate was 2.5%. After the tariffs that Trump has implemented so far, the average tariff rate has increased more than…
Pres. Trump announces 'permanent' auto tariffs going into effect April 2 Source link
U.S. President Donald Trump speaks to the media in the Oval Office at the White House in Washington, D.C., U.S., March 26, 2025. Evelyn Hockstein | ReutersAfter President Donald Trump said on Wednesday he would impose 25% tariffs on “all cars that are not made in the United States,” he said his key advisor, Tesla CEO Elon Musk, had not weighed in on the matter, “because he may have a conflict.”He added that Musk had never “asked me for a favor in business whatsoever.”Musk serves as a senior advisor to President Donald Trump, having earlier contributed $290 million to propel him…
From left, Playground Global partners Peter Barrett, Pat Gelsinger, Jory Bell, Bruce Leak and Ben Kim.Playground GlobalAfter a tumultuous four years running Intel, Pat Gelsinger is going into venture capital.Gelsinger, who was ousted by the chipmaker in December, has joined Playground Global as a general partner. Started in 2015 by a group that included Android founder Andy Rubin, Playground focuses on early-stage investments in deep technology.Gelsinger told CNBC in an interview that he considered starting a venture firm with someone else, but opted to go with a structure that was already up and running.”It’s about scale,” Gelsinger said, adding that…
Palestinians in Gaza protested against the war for a second straight day on Wednesday and chanted slogans against Hamas, frustrated and angry over the collapse of a cease-fire with Israel that many had hoped would become permanent.The protests were rare shows of dissent against Hamas, the armed group that has ruled Gaza for 17 years with an iron fist and which started a 15-month war by leading the Oct. 7, 2023, attack on Israel. Wednesday’s protests appeared to spread to more parts of Gaza than on Tuesday, according to video on social media and witnesses.Most of the demonstrations have been…
CNBC’s Phil LeBeau talks how the latest slate of auto tariffs could impact the U.S. automarket. Source link
TD Cowen’s note outlining Microsoft’ s abandonment of two data center projects added fuel to the sell-off in Big Tech shares Wednesday. According to analyst Michael Elias, Microsoft walked away from the two data centers — which were expected to have more than 2 gigawatts of capacity — in the U.S. and Europe over the past six months. The Windows and Xbox company has also delayed or canceled data center leases over the past month, he added. Microsoft traded 1.3% lower Wednesday, snapping a three-day rebound, while the tech-heavy Nasdaq Composite dropped more than 2%. Artificial intelligence chipmaker Nvidia tumbled…
With 250,000 highly-desired Nvidia graphics processors, CoreWeave has become one of the most prominent “GPU clouds,” a status it hopes investors will value when it debuts on the public markets.But the world of artificial intelligence hardware is moving so quickly that it raises questions about how long those chips will remain on the cutting edge and in demand. It’s a concern that could impact investor demand for shares of CoreWeave, one of the most anticipated IPOs in years.CoreWeave, which rents out remote access to computers based on Nvidia AI chips, said in a financial filing this month that most of…
