A wonderful guy: Trump's praise for Elon Musk amid feud over 'Big Beautiful Bill'
On his 54th birthday, Elon Musk took to X to slam the updated Senate draft of the bill, calling it 'utterly insane and destructive,' claiming it would destroy millions of jobs and damage America's strategic future by cutting environmental investments."The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country! Utterly insane and destructive," Musk wrote in the post.This marks a continuation of Musk's opposition to the legislation, which he had previously dubbed a 'disgusting abomination' filled with wasteful spending.Despite the harsh words from Musk, Trump's tone toward his former campaign supporter remains surprisingly friendly.- EndsTune InMust Watch
IN THIS STORY#United States of America#Donald Trump#Elon Musk
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
9 minutes ago
- India Today
US bill proposes 500% tariff on India, China over Russia business ties
A proposed US Senate bill, backed by President Donald Trump, could impose 500% tariffs on countries, including India and China, that continue trading with Russia, Republican Senator Lindsey Graham said in an interview with ABC to ABC News, Graham stated, "If you're buying products from Russia, and you're not helping Ukraine, then there's a 500% tariff on your products coming into the United States. India and China buy 70% of Putin's oil. They keep his war machine going."advertisementThe bill is reportedly expected to be introduced in August, marking a significant escalation in US efforts to isolate Russia economically. If enacted, the bill could severely impact India and China, the largest buyers of discounted Russian crude. For India, the move also risks tariffs on exports like pharmaceuticals, textiles, and IT is a major buyer of Russian oil, and imported EUR 49 billion worth of crude oil in the third year of the Ukraine invasion. Traditionally, India sourced its oil from the Middle East, but began importing a large volume of oil from Russia soon after the invasion of Ukraine in February development also comes on the heels of the much-expected India-US bilateral trade agreement. US Treasury Secretary Scott Bessent stated on Tuesday that the trade deal is "very close", even as an Indian delegation continued discussions with US officials in Washington after trade talks hit a deadlock over key agricultural demands, sources told India proposed bill, co-sponsored by Graham and Democratic Senator Richard Blumenthal, reportedly has 84 co-sponsors and aims to pressure nations into halting Russian oil purchases, weakening "Moscow's war economy" and pushing it toward peace negotiations in told ABC News that Trump gave the green light during a golf game. "For the first time yesterday, the President told me I was playing golf with him. He says, 'It's time to move your bill.'"Originally proposed in March, the legislation faced delays after the White House signalled Wall Street Journal reported that the Trump administration had 'quietly pressured' the Senate to soften the bill by changing mandatory language ("shall") to discretionary ("may").Graham later reportedly proposed a carve-out for countries supporting Ukraine, likely to ease concerns among the US's European allies. "We are going to give President Trump a tool in the toolbox," Graham this bill becomes law, it may alter US's trade relationships with both China and India. Given that the US is India's primary export market, the policy could also trigger substantial economic repercussions and diplomatic tensions.- EndsTune InMust Watch
&w=3840&q=100)
Business Standard
13 minutes ago
- Business Standard
CCI approves GIC's move to acquire 2.14% stake in Groww ahead of IPO
Fair trade regulator CCI on Tuesday cleared Singapore's sovereign wealth fund GIC's proposed acquisition of a 2.14 per cent stake in IPO-bound Billionbrains Garage Ventures, the parent company of investment tech unicorn Groww. GIC, through its affiliate, Viggo Investment Pte (GIC Investor), is acquiring a stake in Groww. "The proposed combination relates to the acquisition of 2.143 per cent shareholding in Billionbrains Garage Ventures Ltd (Groww) by Viggo Investment Pte Ltd (GIC Investor) pursuant to the execution of, inter alia, a Deed of Adherence and Share Subscription Agreement dated 28th April 2025," the Competition Commission of India (CCI) said in a release. Groww, which operates an online trading platform, offers stock trading, mutual fund investments and other financial instruments. The company also has an asset management business. "CCI approves acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte Ltd," the regulator said in a post on X. Viggo Investment is a special purpose vehicle and is wholly owned by Enterprise Holding, which in turn, is a wholly-owned subsidiary of GIC (Ventures) Pvt Ltd. Last month, Billionbrains Garage Ventures filed IPO papers with Sebi for an initial share sale through a confidential pre-filing route, with an aim to raise between $700 million and $1 billion, said industry sources familiar with the development. According to reports, Groww was in discussions in March this year to raise nearly $250 million in a pre-IPO funding round, which was led by GIC, while other existing investors also participated. Following the funding, Groww's valuation stood at nearly $6.8 billion, more than double the $3.1 billion it had recorded in its last funding round in 2021. Bengaluru-based Groww was founded in 2016 by former Flipkart executives Harsh Jain, Lalit Keshre, Neeraj Singh, and Ishan Bansal. For FY24, Groww reported a net loss of ₹805 crore primarily due to a one-time tax payment of ₹1,340 crore for shifting its domicile to India from the US. However, the Tiger Global-backed company maintained its operational profitability at ₹535 crore for FY24 compared to ₹458 crore for FY23, marking an increase of 17 per cent. Its revenues surged to ₹3,145 crore for the financial year that ended on March 31, 2024, higher by 119 per cent than ₹1,435 crore in the preceding fiscal year.
NDTV
14 minutes ago
- NDTV
US Stocks Fall From Records As Tesla Sinks On Musk-Trump Row
Wall Street stocks retreated from records early Tuesday while Tesla sank as President Donald Trump's sweeping tax cut bill faced hurdles in Congress and renewed criticism from Elon Musk. Prospects for the legislation, which also contains deep cuts to social spending programs and clean energy, looked uncertain as senators sparred over numerous amendments. Meanwhile, Trump warned of retribution against Tesla and other Musk ventures after the billionaire railed against the legislation, battering shares of Musk's electric car company. About 25 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 44,214.87. The broad-based S&P 500 dipped 0.1 percent to 6,197.55, while the tech-rich Nasdaq Composite Index declined 0.3 percent to 20,312.16. Shares of Tesla sank around five percent after Trump said he would consider deporting Musk and directing the Department of Government Efficiency (DOGE) to scrutinize the Tesla and SpaceX founder's government subsidies. Musk, a mega-donor to Trump in the 2024 election who headed DOGE before leaving Washington earlier this spring, has called for a new political party in response to Trump's bill. The row weighs on investor sentiment because "Tesla is extraordinarily popular with speculative traders," said Steve Sosnick of Interactive Brokers. "If there's a big drop in that stock, I do think it sort of hurts the mood of the market." Analysts also said the market was poised for a pullback following an end-of-the-quarter influx of money from investors. Among other individual companies, Boeing rose 0.8 percent after it announced it hired Jesus "Jay" Malave as chief financial officer, recruiting the executive from Lockheed Martin. The company also said it named Stephen Parker as head of the company's defense and space division, after previously appointing him acting head.
