Trump hits out at Musk over plan to form political party
In his post, Trump also took aim at Musk's push for an "Electric Vehicle (EV) Mandate", saying it would have "forced everyone to buy an electric car in a short period of time."Trump's tax and spending plans - which he called his "big, beautiful bill" - ends tax breaks for electric vehicles.
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Times
24 minutes ago
- Times
Britain is missing its chance to divert investment from America
The uncertainty around the US economy created by President Trump's trade war and his domestic agenda should be a golden opportunity for the UK to attract more international capital. John Flint, the outgoing chief executive of Britain's National Wealth Fund, which has been capitalised with £28 billion to help accelerate private investment into the UK's clean energy and growth industries, told MPs last week: 'The world has got very strange in the last few months. The UK looks good right now on a relative or comparative basis. 'There is a government with a big majority, institutions that work, respect for the rule of law … The biggest consumer of capital internationally [America] is on a different track right now. We have a window and a moment where we can appear to be different.' However, the view among some powerful Wall Street investors is that while more opportunities for investing outside the US would be welcome, the UK government hasn't given them any good reason to deploy their capital. As one Wall Street executive told me: 'I think the UK has really significant challenges. It's not leading in enough places to attract capital. It doesn't have the innovation engine going and it has other structural challenges still lingering: inflation, very sluggish growth, very high social spend. 'They've got an entitlements problem, just like we have an entitlements problem. But we have a more innovative, dynamic economy. I don't see a real plan. And they're chasing away capital, not attracting capital.' Flint, who is due to leave his role in August, told MPs that the UK does not yet have a list of investable projects ready to present to prospective investors. When asked how long it would take to create the list, he said: 'I cannot give you an answer, because it depends on so many different factors. Planning is one of them, which I know the government are reforming.' Meanwhile, the government has no apparent plan to stop the decline in UK-listed growth companies. Overseas takeovers of UK-listed companies have accelerated, while those companies have not been replaced with new listings. Worryingly, it was revealed last week that Sir Pascal Soriot, chief executive of AstraZeneca, Britain's most valuable public company, would like to move its stock market listing to the United States. The government's series of U-turns and the rebellion within the Labour Party over welfare reforms have not helped improve the UK's image to global investors, instead raising questions about the government's ability to manage spending. The uproar on Wall Street over Trump's 'liberation day' tariffs in April raised hopes elsewhere that Europe could reverse the increase in global inflows to the US since the pandemic. The US received 41 per cent of global gross capital inflows in 2022-23, the highest share of any country and nearly double its pre-pandemic share of 23 per cent, according to the US Council of Economic Advisers. So far this year, outflows from US equity funds have more than doubled to nearly $87 billion, while more than $100 billion has flowed into European equity funds — up threefold on the same period last year, analysis from LSEG's Lipper Fund research database showed. However, Wall Street is warning that the minor reallocation of capital from the US at the start of the year could be coming to an end as the early impact of Trump's tariffs is less severe than feared. Stuart Kaiser, Citi's head of US equity trading strategy, said: 'There was a period of probably six out of nine weeks where you saw net selling of US ETFs [exchange-traded funds] and long-term mutual funds. So I think the initial shock of the tariff headlines did hurt consumer sentiment and did hurt investor sentiment, but it does also feel like those investors are kind of re-engaging back in.' The UK cannot only rely on America's problems alone to attract more investment. Policymakers need to come up with a catalyst to entice more investment away from the US. Louisa Clarence-Smith is US Business Editor of The Times
Daily Mail
26 minutes ago
- Daily Mail
'Woke' WNBA star slammed for praising 'socialist' Zohran Mamdani and threatening violence against ICE and Donald Trump
WNBA player Natasha Cloud has been criticized for supporting Zohran Mamdani and seemingly threatening violence against ICE agents and Donald Trump by telling them: 'New Yorkers really don't f*** around.' Cloud, a guard for the New York Liberty, threw her support behind Mamdani before his victory in New York City 's Democratic primary last month. When asked by a reporter about Mamdani's win over Andrew Cuomo and nine other candidates, and Trump's recent comments about arresting and deporting him, Cloud launched into a rant. She called Trump 'Donny' and suggested there could be severe consequences if ICE agents were to descend on New York. 'Mamdani, my boy!' Cloud said initially. She then continued: 'If Donny wants to come down here, if ICE wants to try and come down here, that's fine. 'But [they're] going to learn the hard way… New Yorkers really don't f*** around. They don't play about one another. The don't play about this city. 'I just think that it's reckless of our president, reckless of this administration but it's also exciting for us, the people, because that's when you know we're getting to them. 'That's when you know we're creating change that they don't want. That's when you know we're dismantling a system. For all of us in New York I'm just gonna ask that we continue to be on the right path to history, that we protect one another, that we protect Mamdani and what he wants to do. 'Because ultimately he wants to protect us down the line. He is a Muslim, he is a socialist, he is a Democrat so he's going to get the worst PR of all PRs. They're going to tell you to be scared of him, all this Islamophobia s***, that a socialist is a scary thing for our country moving forwards. 'Socialism is that everyone has equity, everyone has the same s***, everyone can live the same dignified life of one another and he's going to do it through taxing the rich instead of taxing the poor to give more to the rich.' In a separate interview, Cloud added that Mamdani's victory 'restored my hope in humanity a little bit.' But outspoken Outkick podcaster Dan Dakich fired back at Cloud and attacked her argument in a furious speech on his latest show. The title of the video called Cloud 'woke'. He said on Tuesday: 'Socialism sucks. We weren't built on socialism. We were built on "work your a** off" and she's the luckiest human being to be in this country. 'It's not like this woman has some kind of degree. Why do these women try to act like dudes? 'She's going to say "f*** around and find out ICE". What are you going to do? Seriously, what are you going to do? '"He's a socialist, he's a Muslim, he's great". Alright, we're going to find out. Really what this guy is is he's a fraud. He's a rich dude. I don't know if she knows that, a very rich dude. 'She's from Pennsylvania, she went to Maryland, not exactly the bastion of higher education. She gets a chance to speak out because she lives in the greatest country ever. Muslim women wouldn't have the chance to speak out but she's too stupid to know that. 'Let's just make everything equal for everybody. Let's change the entire course of the country. Let's threaten ICE agents. F*** around, come down here and find out because some basketball player is speaking. 'I can't imagine having to sit there and go "I've got to listen to some f***ing idiot named Natasha Cloud lecture me on socialism and Muslims. 'It's the WNBA against Donald Trump all over again. It's the WNBA vs common sense all over again. It would be fascinating to watch ICE march in there and then she would cry. Just shut up. That Mamdani guy is richer than hell. His parents made more money than God.' Trump has threatened to arrest Mamdani, to deport him and even to take over the country's largest city if he wins the general election in November. 'As president of the United States, I'm not going to let this Communist Lunatic destroy New York. Rest assured, I hold all the levers, and have all the cards,' Trump wrote in an ominous message on his Truth Social site Wednesday morning. 'I´ll save New York City, and make it "Hot" and "Great" again, just like I did with the Good Ol´ USA!' Cloud's comments also come after an uptick in attacks on border agents as they try to carry out Trump's immigration wishes, which has sparked controversy across America. Ten people have been arrested on attempted murder charges in connection with a shooting outside of a Texas immigration detention center that wounded a police officer, where people in black military-style clothing fired at authorities in a 'planned ambush,' a U.S. attorney said. The officer was shot in the neck on Friday, the night of the Fourth of July, after reporting to the Prairieland Detention Center in Alvarado. He was treated at a hospital and released, the Johnson County Sheriff's office said. The shooting took place as Trump´s administration ramps up deportations, which will be turbocharged by a massive spending bill that became law last week. The shooting happened three days before a man with an assault rifle fired dozens of rounds at federal agents and a Border Patrol facility more than 400 miles south in McAllen on Monday, injuring a police officer, before authorities shot and killed him.
Scottish Sun
30 minutes ago
- Scottish Sun
Humiliating moment Putin's giant new five-tonne AI war drone smashes into RUSSIAN house in fiery blunder on test mission
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THIS is the humiliating moment a hulking six-tonne Putin drone "guided by AI" crash landed on a Russian house during a test mission. The Altius unmanned plane with a giant 94ft wingspan hit and destroyed a home on the outskirts of Kazan, southwest Russia after suffering a "navigation failure". Sign up for Scottish Sun newsletter Sign up 3 A long-range Altius reconnaissance and strike drone Credit: East2West 3 The drone crashed into a Russian house Credit: East2West 3 The device suffered from a 'navigation' failure Credit: East2West The reconnaissance drone - with a range of 6,200 mile range - was on a test flight for possible use in Ukraine. But it all went wrong when the AI system navigating the plane reportedly stopped working and the drone landed on a Russian civilian home instead. Miraculously, no-one was hurt. Terrifying footage shows the device travelling overhead before panning to the burning home. Giant flames are pictured engulfing the scorched residence as locals watch with horror. Billowing black smoke fills the air as charred debris and rubble covers the ground and surrounding trees. Residents escaped injury as the long-range UAV smashed into their house, and then scrambled to put out the fire before the emergency services arrived. Developers blamed 'unidentified electronic warfare equipment' for the navigation failure which occurred just under a mile away from Kazan Gorbunov Aircraft Plant. The drone can hold a precision-guided bomb or missile payload. An eyewitness said: 'At first, we didn't even think it was a plane. Bloodthirsty Putin hits Ukraine with almost 1,000 missiles a DAY as he faces his biggest dilemma yet 'But when we saw the wing, we understood everything.' This type of monster drone has been in service with the Russian military since 2021 but there is no record of it so far being deployed in the war in Ukraine. The failed drone attack comes as Russia increases its blitz on Ukraine, hammering the country with 1,000 drones and missiles every day. Yesterday, was the second massive assault in the four days since Trump's call with Putin, and represents a brazen defiance of the President's peace agenda. Moscow's firepower capacity is constantly increasing and his forces have regularly broken the record for the largest daily volley of weapons in recent weeks. On June 1, a 479-strong wave of drones and missiles became Russia's largest unmanned aerial assault of the war. June 9 saw that broken with 499, then again on June 29 with 537. And finally, just last Friday, Putin terrorised Kyiv with a firestorm of 550 drones and missiles - just as he and Trump finished a phone call. Russia's defence industry is ballooning as projects come to fruition - such as an expanded missile plant in Votkinsk and rapidly expanding supply chains. With an expanding arsenal, the size of Russia's regular salvos look set only to increase - meaning they could soon nudge 1000 weapons per day.
