Gary Black, managing partner at The Future Fund and a former Wall Street executive, recently sold his remaining Tesla shares, steering clients away before a selloff triggered by Elon Musk’s public spat with Donald Trump. Black had initially embraced Tesla in 2021, making it a central holding in his ETF. However, he started reducing exposure…
Category: News
Zuckerberg Forms Elite Team to Revamp Meta’s Struggling AGI Effort Amid Rival Pressure
Mark Zuckerberg, CEO of Meta Platforms, is reportedly assembling a specialized team aimed at developing artificial general intelligence (AGI) technology that can equal or surpass human cognitive abilities. According to Bloomberg News, this initiative aligns with Meta’s growing ambition to dominate the AI space, positioning itself alongside rivals like OpenAI. This move highlights the increasing…
Paramount Lays Off Hundreds Amid Industry Downturn and Skydance Merger Push
Paramount Global is laying off 3.5% of its U.S.-based workforce—several hundred employees—as it continues to grapple with economic challenges and the steady decline of traditional pay-TV services. The move is part of the company’s strategy to adapt to ongoing shifts in the media industry and respond to broader macroeconomic pressures. Employees were officially informed of…
Wall Street Sounds Alarm as Tariffs Threaten U.S. Dollar Dominance and Economic Stability
Wall Street is increasingly alarmed about the potential erosion of America’s superpower status. Since the reimplementation of President Trump’s aggressive tariff policies earlier this year, top executives and financial leaders have been thrust into a period of deep economic uncertainty. These tariffs have created not only volatility in markets but also strained international alliances and…
Markets Hold Steady as U.S.–China Trade Talks and Economic Data Keep Investors Cautious
Stock futures remained largely unchanged on Tuesday as investors awaited further developments in ongoing trade negotiations between the U.S. and China. Dow Jones Industrial Average futures rose by just 10 points, while S&P 500 and Nasdaq 100 futures inched up about 0.1%. The restrained movement reflects a market in wait-and-see mode, looking for tangible outcomes…
Warner Bros Discovery to Split Streaming and Cable Divisions in Bold 2026 Restructuring Plan
Warner Bros Discovery, the parent company of CNN and HBO Max, has announced plans to divide into two distinct companies by mid-2026. This decision is part of a broader strategy to adapt to the fast-changing dynamics of the media industry. One of the newly formed entities will concentrate on the company’s thriving studio and streaming…
Carmakers Sound Alarm as China’s Rare-Earth Curbs Threaten New Supply Chain Crisis
Frank Eckard, CEO of German magnet manufacturer Magnosphere, has been inundated with urgent calls from automakers and parts suppliers struggling to source magnets amid Chinese export restrictions. Many are warning that without an alternative supply, factory shutdowns could begin as soon as mid-July. The urgency is palpable, with companies willing to pay premium prices to…
Morgan Stanley Sees Resilient Market Ahead Despite Tariff Fears and Slowing Earnings
Despite widespread anxiety around tariffs and noisy headlines predicting a slowdown, Morgan Stanley believes the stock market is showing underlying resilience. According to their equity strategy team, led by Michael Wilson, the market has already priced in much of the anticipated economic drag from the ongoing trade war. While macroeconomic data and corporate earnings may…
Apple Enters WWDC 2025 Underwhelmed and Under Pressure From AI Rivals and Regulators
Apple’s Worldwide Developers Conference (WWDC), typically a major showcase of innovation, is kicking off amid an atmosphere of low expectations. In past years, the company used the event to introduce significant new products like the Vision Pro headset and its AI initiative, Apple Intelligence. However, this year’s preview indicates no major breakthroughs, leaving both fans…
China’s U.S. Trade Slump Deepens as Tariff Tensions Undermine Export Growth and Recovery Hopes
China’s export growth in May fell short of expectations, with a significant drag coming from a sharp decline in shipments to the United States. Exports to the U.S. dropped by 34.5% compared to a year earlier, marking the worst decline since the early days of the COVID-19 pandemic in February 2020. Imports from the U.S.…