Former U.S. President Donald Trump told an influential group of CEOs that he wants to further cut the corporate tax rate he lowered while in office, while President Joe Biden's chief of staff separately told them that the Democratic incumbent's emphasis on global alliances would help their businesses.
Both Trump, the presumptive Republican nominee, and Jeffrey Zients met behind closed doors on Thursday with the Business Roundtable in Washington, with Zients stepping in for Biden during the president's meetings with Group of Seven leaders in Italy. The prominent group representing more than 200 CEOs just rolled out an effort to preserve the tax breaks for businesses that Trump signed into law in 2017.
Full StoryThe artificial intelligence startup Perplexity AI has raised tens of millions of dollars from the likes of Jeff Bezos and other prominent tech investors for its mission to rival Google in the business of searching for information.
But its AI-driven search chatbot is already facing challenges as some news media companies object to its business practices and tech giants Google, and now Apple, are increasingly fusing similar AI features into their core products.
Full StoryGlobal shares were mixed on Friday after Wall Street touched fresh records, with benchmarks pushed higher by the frenzy over artificial-intelligence technology.
France's CAC 40 dropped 1.3% in early trading to 7,606.73 while Germany's DAX dipped 0.5% to 18,174.98. Britain's FTSE 100 fell 0.2% to 8,143.79. The future for the Dow Jones Industrial Average slipped 0.5% and that for the S&P 500 was 0.2% lower.
Full StoryTesla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.
The favorable vote doesn't necessarily mean that Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge's rejection.
Full StoryThe UK announced Thursday dozens of new sanctions aimed at constraining Russia's war in Ukraine, including targeting Moscow's main stock exchange, a day after Washington announced similar measures.
London said the 50 new curbs -- part of "co-ordinated action with G7 partners" as the Western-led bloc's leaders meet in Italy -- will hit the Russian financial system and suppliers supporting its military production.
Full StoryJust before 2 a.m. on a chilly April night in Seattle, a Chevrolet Silverado pickup stopped at an electric vehicle charging station on the edge of a shopping center parking lot.
Two men, one with a light strapped to his head, got out. A security camera recorded them pulling out bolt cutters. One man snipped several charging cables; the other loaded them into the truck. In under 2½ minutes, they were gone.
Full StoryNow that Europe has announced tariffs on China-made electric cars, the continent is bracing to see if the other shoe drops.
Will China retaliate with tariffs on European cars, taking aim at Germany's BMW and Mercedes? Would it put tariffs on agricultural products, targeting Europe's politically influential farmers? Or luxury goods from Italy and France?
Full StoryIf Tesla shareholders approve an all-stock compensation package for CEO Elon Musk that was thrown out this year by a Delaware judge, it would almost guarantee he would remain at the company he grew to be the world leader in electric vehicles, shifting to AI and robotics including autonomous vehicles, which Musk says is Tesla's future.
If Tesla shareholders vote against restoring Elon Musk's $44.9 billion pay package Thursday, the CEO could deliver on threats to take artificial intelligence research to one of his other companies. Or he could even walk away.
Full StoryThe World Bank said Tuesday it has approved $1 billion for the construction of Pakistan's biggest Dasu hydropower project, which is being built in the country's northwest with China's help.
The loan would be used to expand the hydropower electricity supply and improve access for local communities, the bank said in a statement.
Full StoryWorld shares were mixed on Tuesday in a busy week that will bring several top-tier reports on U.S. inflation along with a policy meeting of the Federal Reserve.
The future for the S&P 500 shed 0.1% and that for the Dow Jones Industrial Average was down 0.2%.
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