“I regret some of my posts about President @realDonaldTrump last week. They went too far,” Elon Musk said on the X social media platform.Alex Wroblewski | Afp | Getty ImagesTech billionaire Elon Musk on Wednesday said he regretted some of the social media posts he made about U.S. President Donald Trump last week during an explosive public dispute with his former close ally.The feud dissolved a tight partnership that had propelled Musk to spearhead the budget-slashing Department of Government Efficiency under Trump’s second administration, fueling market concerns over the outlook for the tech tycoon’s Tesla and SpaceX businesses.”I regret some…
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The Zara lettering can be seen on the façade above the entrance to a branch of the fashion brand in the city center of Nuremberg (Bavaria) on March 6, 2025.Picture Alliance | Getty ImagesZara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32…
U.S. dollar bill.Catherine Mcqueen | Moment | Getty ImagesAsia’s shift away from the U.S. dollar is ramping up. A mix of geopolitical uncertainties, monetary shifts, and currency hedging is prompting a meaningful move toward de-dollarization across the region.”Trump’s erratic trade policy decisions and the dollar’s sharp depreciation are probably encouraging a more rapid shift towards other currencies,” said Francesco Pesole, FX strategist at ING.While the U.S. dollar continues to dominate global foreign exchange reserves, the share of the greenback has declined from more than 70% in 2000 to 57.8% in 2024. More recently, the greenback also saw a steep selloff this…
This report is from this week’s CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and the key personalities shaping the news. The newsletter will also highlight other key developments in the U.K. that you won’t want to miss, plus a preview of essential events that are set to make waves. Like what you see? You can subscribe here.It says much about the current state of U.K. politics that today’s spending review has taken on such importance.What should be a relatively straightforward event, in which Rachel Reeves, the chancellor…
Nintendo Switch 2 controllers are displayed during at the Nintendo New York store on June 4, 2025, for a launch event ahead of the video game hybrid console’s midnight release. David Dee Delgado | AFP | Getty ImagesNintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, a record-breaking start for the company’s first new console in eight years. The sales figures, reported by the Japanese multinational video-game company on Wednesday, put it on the path to realizing its aim of selling 15 million units of the Switch 2 console…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, major cryptocurrencies climb as investors wait for more insight on trade discussions between the U.S. and China. Plus, Brian Quintenz, President Trump’s pick to lead the U.S. Commodity Futures Trading Commission, prepares to testify before the Senate. And, Matt Hougan, Bitwise Asset Management CIO, discusses the launch of the asset manager’s new GameStop-focused covered call ETF.11:11Tue, Jun 10 20253:24 PM EDT Source link
A federal appeals court agreed on Tuesday to allow President Trump to maintain many of his tariffs on China and other U.S. trading partners, extending a pause granted shortly after another panel of judges ruled in late May that the import taxes were illegal.The decision, from the U.S. Court of Appeals for the Federal Circuit in Washington, delivered an important but interim victory for the Trump administration, which had warned that any interruption to its steep duties could undercut the president in talks around the world.But the government still must convince the judges that the president appropriately used a set…
CNBC’s Jim Cramer on Tuesday said he thinks it’s necessary to review stocks that have captured the attention of the younger investors but aren’t always highlighted by Wall Street analysts.”I think relevance dictates that we cover the companies that are treated as irrelevant or even pariahs by the gray beards around here,” he said. “It isn’t true that no one cares. I fear everyone cares, except those of us on Wall Street. We have to do better about nuke, about quantum and crypto, because our younger viewers deserve better.”Cramer suggested that younger investors favor any stock that has to do…
College graduates of the class of 2025 seek jobs at a special job fair for the new food and biomedicine industries in Huai ‘an City, Jiangsu Province, China, on June 8, 2025. Nurphoto | Nurphoto | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyChina’s eagerness to adopt artificial intelligence…
