In his first week away from the U.S. government’s so-called Department of Government Efficiency, Elon Musk is seeing positive activity in his companies.
His brain tech startup Neuralink announced a $650 million funding round, while his electric vehicle manufacturer Tesla in May enjoyed a 213% year-on-year jump in sales in Norway.
“Already steel prices in the U.S. are higher than anywhere else, and it is a net importer which needs to have volumes coming in.
All this does is raise prices there,” Josh Spoores, head of steel Americas analysis at CRU, told CNBC on Monday.
Neuralink raised $650 million Elon Musk’s Neuralink has closed a $650 million funding round, the brain tech startup announced Monday.
During his first week away from the U.S. A. Elon Musk’s businesses are doing well, according to the government’s so-called Department of Government Efficiency. His electric vehicle manufacturer Tesla saw a 213 percent increase in sales in Norway in May, while his brain tech startup Neuralink announced a $650 million funding round.
It goes without saying that there is little evidence linking those incidents to Musk’s exit from DOGE. The funding and sales process could have happened with little to no leadership or input from Musk because it took place while he was still preoccupied with the White House.
Both, however, serve as reminders of why so many people support Musk: in essence, his businesses are profitable. However, similar to Tesla’s promised fully autonomous feature, Musk’s companies require a steady, ideally “super focused” hand to steer them.
a somber beginning to June.
U. S. . Monday, the first trading day of June, saw modest gains in stocks. The Dow Jones Industrial Average increased by a mere 0.08%, the SandP 500 increased by 0.41%, and the Nasdaq Composite increased by 0.67%. The Stoxx 600 index dropped 0 points, or 14%, across all of Europe. Novo Nordisk’s Wegovy shares increased 10.9 percent in the face of a U. A. prohibition of imitation weight-loss medications.
Steel tariffs will increase U.S. S. pricing.
U.S. steel imports are subject to a 50% tariff. S. Analysts predict that the announcement made by President Donald Trump on Friday will increase the price of the metal in the United States. “Steel prices in the U.S. S. . are higher than in any other location, and since it is a net importer, volumes must be coming in. Price increases are the only effect of this,” Josh Spoores, CRU’s head of steel Americas analysis, told CNBC on Monday.
$650 million was raised by Neuralink.
Neuralink, a brain technology startup founded by Elon Musk, closed a $650 million funding round on Monday. According to a press release, various firms took part in the round, including ARK Invest, Founders Fund, Sequoia Capital, Thrive Capital, and Lightspeed Venture Partners. Neuralink is creating a system that converts brain signals into commands for other technologies, known as a brain-computer interface.
Norway’s Tesla sales are up.
According to official data, Tesla’s new car sales in Norway jumped 213 percent to 2,600 in May compared to the same month last year. Sales of the company’s updated Model Y small sport utility vehicle generated the majority of the increase. Industry associations on Monday revealed sharply lower May sales of new Tesla cars in Spain, Portugal, Denmark, and Sweden, defying a downward trend throughout Europe.
[PRO] “Anywhere But The USA.”.
erratic trade regulations, suggested foreign capital taxes, and worries about U.S. S. One new trade that has emerged as a result of fiscal spending is “Anywhere But the USA.”. The investment manager Alan Siow of Ninety One described it as a “recalibration toward global balance, cyclical recovery, and multi-polar growth.”. These are some opportunities outside of the United States. S. . that portfolio managers and investors are considering.
Nowadays, Australian beef is used to make “The Great American” burger in China.
American farm products have been losing ground to other imports and disappearing from Chinese restaurants and shops.
In his restaurant in Beijing, Geng Xiaoyun used to serve a speciality of American-imported salt-baked chicken feet, known as “phoenix talons” in China.
According to Xiaoyun, “American chicken feet are so beautiful.”. Their sponginess makes them incredibly tasty. The quality of Chinese [chicken] feet is simply inferior. “..”.
The proprietor of the Kunyuan restaurant was forced to remove the Chinese delicacy from the menu after tariffs caused prices to increase by 30% since March.
