Author: arthursheikin@gmail.com

[ad_1] CNN  —  Tesla stock soared in the months after the November presidential election because investors were convinced Donald Trump was about to do massive favors for his largest financial backer, Tesla CEO Elon Musk. But Trump can also do great damage to Musk’s many business interests. The risk of that damage is one reason that Tesla shares (TSLA) tumbled 14% in trading Thursday following the very nasty and public spat between Trump and Musk. But it’s not just Tesla that could be at risk. SpaceX depends on government contracts for a significant share of its revenue. And Tesla, SpaceX…

[ad_1] Elon Musk predicted Donald Trump’s tariffs will send the economy into recession, one of many verbal barbs the tech billionaire threw at the president on Thursday as their relationship collapsed into acrimony.”The Trump tariffs will cause a recession in the second half of this year,” Musk wrote on X while reposting another tweet that called Trump’s tariffs “super stupid.”The morning began with Trump saying he was disappointed by Musk’s opposition to his “One Big Beautiful Bill” during a press appearance to welcome the German Chancellor to the White House.The feud intensified when Musk called out Trump’s “ingratitude,” and suggested…

[ad_1] We can now put a price on Elon Musk’s very public breakup with President Donald Trump.Musk’s net worth dropped by $34 billion on Thursday, one of the worst single-day wipeouts of his personal wealth, according to the Bloomberg Billionaires Index.Until Thursday, Musk had mostly kept his criticism geared toward the GOP’s “big beautiful bill.” Everything changed once Musk’s rant against the president turned personal. Musk denied Trump’s characterization that Musk was only critical of the bill because it would remove tax credits that benefit Tesla. He then went further in his tirade, digging up old tweets from the president…

[ad_1] Matt Weinberger/Business Insider 2025-06-06T00:33:51Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Amazon cut jobs in its Books business, according to an internal email. The company started by selling books online in the 1990s. This remains a large business for the e-commerce giant. Amazon is cutting jobs in its Books business, according to an internal email viewed by Business Insider…

[ad_1] The sun was shining, the sea was glistening, and the woman in front of me looked every bit the boss of this little slice of paradise in Thailand.Dressed in breezy beachwear — a matching set with bold prints in yellow, pink, and orange — she stepped out of the hotel’s front office and greeted me with a bright smile.”Sunglasses are a must,” she told me with a laugh, as she led me down the long entryway lined with lush greenery, the tropical sun blazing overhead. Cabessa had no prior experience running a hotel, but her background managing a restaurant…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is the Apac developed markets rates strategist at Société GénéraleThe attention of global investors is turning more to Japanese bond markets for good reason. The fragile supply-demand imbalance for longer-dated bonds in Japan has been broken by a slowdown in domestic investor demand with 30-year yields briefly touching record highs in late May. With yields becoming more attractive, there’s been a return of the narrative that Japanese investors could start to repatriate funds from overseas. This theme is never…

[ad_1] Anysphere, the maker of AI coding assistant Cursor, has raised $900 million at a $9.9 billion valuation, Bloomberg reported. The round was led by returning investor Thrive Capital, with participation from Andreessen Horowitz, Accel, and DST Global. The massive round is Anysphere’s third fundraise in less than a year. The 3-year-old startup secured its previous capital haul of $100 million at a pre-money valuation of $2.5 billion late last year, as TechCrunch was first to report.  AI coding assistants, often referred to as “vibe coders,” have emerged as one of AI’s most popular applications, with Cursor leading the category.…

[ad_1] It was easy to predict that Elon Musk and Donald Trump would break up someday. Even the dummy typing this imagined it.What I didn’t imagine was that the divorce between two of the most powerful men in the world would play out on rival social platforms.Musk is tweeting away on the thing many of us still call Twitter — which he owns, of course — and Trump is firing back on Truth Social — the would-be Twitter rival he owns.First and foremost, the spectacle of two billionaires having a potentially deeply consequential flame war is … truly something. When…

[ad_1] JPMorgan is warning junior bankers against taking future-dated jobs with buyout firms — or even sneaking out of job training to take interviews. On Wednesday, JPMorgan Chase’s top investment banking brass sent a memo to incoming first-year IB analysts warning them against participating in the private equity industry’s annual recruiting ritual. This whirlwind affair is known as “on-cycle recruiting” and promises young bankers lucrative jobs at the end of their investment banking analyst programs, which often last two or three years. In the memo, John Simmons and Filippo Gori, co-heads of global banking, admonished analysts who accept “future-dated job offer” or “a…

[ad_1] Perplexity received 780 million queries in May, CEO Aravind Srinivas shared onstage at Bloomberg’s Tech Summit on Thursday. Srinivas said that the AI search engine is seeing more than 20% growth month-over-month. “Give it a year, we’ll be doing, like, a billion queries a week if we can sustain this growth rate,” Srinivas said. “And that’s pretty impressive because the first day in 2022, we did 3,000 queries, just one single day. So from there to doing 30 million queries a day now, it’s been phenomenal growth.” Srinivas went on to note that the same growth trajectory is possible,…