All articles tagged with #businesspolitics
If re-elected, Donald Trump has hinted he might keep Jay Powell as Fed Chairman, but only if Powell aligns with his economic views, particularly on low interest rates. Despite Trump's past criticisms of Powell's rate policies, legal constraints may prevent him from firing the Fed chair.
Elon Musk announced he will move the headquarters of SpaceX and X (formerly Twitter) from California to Texas in response to a new California law that prevents schools from requiring teachers to notify parents if their child changes their gender identity. Musk cited this law and other policies as reasons for the relocation, emphasizing his opposition to what he views as excessively liberal regulations in California.
A Trump-owned company, CIC Ventures LLC, is selling $299 limited edition sneakers featuring an image of Donald Trump with a bloodied face and fist raised, following an assassination attempt at a rally. The "FIGHT FIGHT FIGHT High-Tops" are marketed as collector's items with only 5,000 pairs available, and 10 pairs will be autographed. This move is seen as an effort to capitalize on Trump's reaction to the incident and bolster his 2024 presidential campaign.
JPMorgan CEO Jamie Dimon condemned the assassination attempt on former President Donald Trump, calling for unity and dialogue in a memo to employees. Other banking leaders, including those from Goldman Sachs, Bank of America, and Morgan Stanley, also denounced the violence and urged for national unity during their second-quarter earnings calls.
Jamie Dimon, CEO of JPMorgan Chase, sent a companywide email condemning the shooting of former President Trump and calling for unity and constructive dialogue to address the nation's challenges. Dimon's message, echoed by other business leaders, emphasized standing against hate, intimidation, and violence.
Former President Donald Trump's net worth increased by over $1 billion as shares of Trump Media surged following an assassination attempt on him. The value of his 65% stake in the company rose significantly, boosting his overall net worth to $6.6 billion. The incident has led to calls for increased security at the upcoming Republican National Convention, where Trump is set to accept the party's presidential nomination.
Trump Media & Technology Group's stock price surged 32% following a failed assassination attempt on Donald Trump, boosting his reelection odds. The company's market value increased by $1.9 billion, with Trump's personal stake rising by $1.2 billion. The stock, often influenced by social media enthusiasm, is seen as a barometer of Trump's political fortunes.
Delta Air Lines is changing its uniform policy after social media outrage over two flight attendants wearing Palestinian flag pins, which some users labeled as "Hamas badges." The airline clarified that the employees complied with existing guidelines and were not terminated. Delta faced backlash for a social media post deemed anti-Palestinian, leading to an apology and the removal of the responsible employee from social media duties. The airline's CEO emphasized the need for inclusivity and respect, and the flight attendants' union demanded an apology and a ban on unauthorized crew photography.
"Bar Rescue" host Jon Taffer expressed strong support for former President Donald Trump's proposal to make tips tax-free, highlighting its potential benefits for restaurant employees and the industry. However, the Committee For a Responsible Federal Budget estimates the policy could reduce federal revenue by $150 to $250 billion over a decade.
Elon Musk criticized Melinda French Gates for endorsing President Joe Biden, suggesting it could be the "downfall of Western civilization." This follows Musk's previous criticism of MacKenzie Scott, Jeff Bezos' ex-wife, for her charitable work. Musk's disdain for Gates may also be linked to his negative views on Bill Gates and President Biden, whom he has criticized for various reasons, including Tesla's exclusion from a 2021 electric-vehicle summit.
The Central Florida Tourism Oversight District, created by Gov. Ron DeSantis, has given initial approval to a $17 billion development deal with Disney, signaling a cooling of tensions between the state government and the entertainment giant. The agreement includes significant investments in Disney's Orlando-area theme parks and commitments to local businesses and affordable housing. This détente follows the dropping of mutual lawsuits and comes after DeSantis ended his presidential campaign, recognizing Disney's critical role in Florida's economy.
At the Chicagoland Chamber of Commerce’s annual meeting, Chicago Bears President Kevin Warren reiterated his pitch for a new domed stadium, emphasizing its potential economic benefits. However, Mayor Brandon Johnson and Governor J.B. Pritzker, who are crucial to the proposal's success, remained silent on the issue. Pritzker has expressed skepticism about the funding, and both leaders focused on other topics in their speeches. The Bears' plan involves significant public funding, which has faced resistance in Springfield.
While some Wall Street billionaires openly support Donald Trump, most top executives at publicly traded companies are cautious due to potential public backlash. Trump's recent conviction may slightly erode his support among the electorate and complicate financial backing from Wall Street. Despite this, Trump's campaign saw a fundraising surge post-verdict, setting a new Republican record. However, concerns remain about his appeal to independent voters needed for a general election win.
Former President Trump has been found guilty on 34 felony counts related to falsifying documents to cover up payments to Stormy Daniels. Meanwhile, Wall Street is under pressure as Salesforce's revenue misses expectations, and the US GDP shows a slowing economy. Investors are awaiting key earnings reports and the Personal Consumption Expenditures report.
The Trump Organization has sold the 1997 Cessna 750 Citation X jet used by Donald Trump during his 2016 presidential campaign to GOP donor Mehrdad Moayedi's company, MM Fleet Holdings, LLC, for an undisclosed amount. Moayedi, a real estate magnate and significant Republican donor, has supported various GOP candidates and committees over the years. The jet, valued between $9 million and $10 million, was known for its high speed and was used by Trump to access smaller airports during his campaign.