Elon Musk is going all-in on Donald Trump
CNN
At first glance Elon Musk and Donald Trump wouldn’t seem to be natural allies.
At first glance Elon Musk and Donald Trump wouldn’t seem to be natural allies. One has made cutting greenhouse emissions a major business selling point. The other questions the need to cut emissions at all, denouncing most forms of clean energy as at best unnecessary and at worst destructive. One wants to move away from fossil fuels and convert all car sales worldwide to electric vehicles. The other believes EVs will be an economic disaster for America and that the nation should to produce and burn more oil. But as of Saturday, Musk is now publicly endorsing Trump’s presidential reelection bid. And the Wall Street Journal, citing people familiar with the matter, reported Monday that Musk is now planning on supporting Trump’s presidential campaign by committing $45 million a month to a new super PAC backing the former president. The donations, if they come to pass, are a significant development in not only the presidential campaign, but also the relationship between the two men, who both have fervent support among millions of fans who stand ready to believe most anything they say. Musk has given money to candidates from both parties in the past, including $5,000 to Barack Obama in April of 2011. He used to be primarily a Democratic donor, but those relatively paltry sums pale in comparison to the amount he is now reportedly donating to the Republican presidential candidate. He has said for several years the Democratic party has moved too far to the left for him to support many of its candidates.
Trump is threatening to take “strong action” against Iran just after capturing the leader of Venezuela. His administration is criminally investigating the chair of the Federal Reserve and is taking a scorched-earth approach on affordability by threatening key profit drivers for banks and institutional investors.
Perhaps no data point better encapsulates the American economy right now than this nugget from Delta’s quarterly earnings:
China recorded the world’s biggest ever trade surplus in 2025, as well as a 20% jump from 2024, capping off a year in which the world’s largest manufacturer defied US trade pressure by ramping up exports to other global markets.
Saks Global, the parent company of luxury retailer Saks Fifth Avenue, filed for bankruptcy protection late Tuesday, according to court documents filed in US Bankruptcy Court in Houston, Texas.
China on Wednesday reported a strong export run in 2025 with a record surplus of nearly $1.2 trillion, as producers braced for three more years of a Trump administration set on slowing the production powerhouse by shifting US orders to other markets.
Microsoft says it will ask to pay higher electricity bills in areas where it’s building data centers, in an effort to prevent electricity prices for local residents from rising in those areas. The move is part of a broader plan to address rising prices and other concerns sparked by the tech industry’s massive buildout of artificial intelligence infrastructure across the United States.
US consumer prices rose 2.7% annually in December, closing out a year that saw slight progress on inflation but continued affordability concerns for many Americans.
The BBC is taking steps to have Donald Trump’s defamation lawsuit against it dismissed, a court document showed.
Amazon executives laid out their vision for Alexa’s future in an interview with CNN at the CES tech convention, where the company launched a new Alexa website and updates to other Amazon products.
After cutting interest rates three times in a row last year, the Federal Reserve indicated last month it probably won’t lower interest rates again for a while. A months-long pause, cemented by key economic data released Friday, may indeed be the best-case scenario for the world’s largest economy.
What is Corporate America so afraid of?
President Donald Trump wants to juice the economy with dramatically lower interest rates, to take credit for a booming stock market and, perhaps most of all, for his handpicked Fed chair to get off the stage.
Apple plans to use Google’s Gemini artificial intelligence model to power its updated version of Siri, which is set to launch later this year, the two companies announced Monday.