business

6/6/25

Trump has reportedly decided to sell his Tesla

President Donald Trump is selling the Tesla he purchased earlier this year, according to The New York Times, which cites an anonymous White House official. CBS earlier reported that Trump was considering selling his little red car. (Given how much Tesla prices have dropped in the used car market, he might get a lot less than what he paid for it.)

In March, during an event that turned the White House lawn into a Tesla showroom, the president said he’d buy the $80,000 Model S “as a show of confidence and support for Elon Musk.” But amid a very public feud between the Tesla CEO and Trump, it seems the president plans to symbolically demonstrate their breakup by getting rid of the car.

In perhaps more consequential news, the rift caused Tesla to lose $152 billion in market cap yesterday. Tesla has a lot riding on its CEO’s relationship with Trump, including federal approval of his self-driving cars as well as legislation that could take away the company’s much-needed regulatory credits.

For now, the AFP reports that the car is still sitting in its White House parking spot as of Friday.

Trump to Sell His Tesla Amid Elon Musk Feud

Trump to Sell His Tesla Amid Elon Musk Feud

In March, during an event that turned the White House lawn into a Tesla showroom, the president said he’d buy the $80,000 Model S “as a show of confidence and support for Elon Musk.” But amid a very public feud between the Tesla CEO and Trump, it seems the president plans to symbolically demonstrate their breakup by getting rid of the car.

In perhaps more consequential news, the rift caused Tesla to lose $152 billion in market cap yesterday. Tesla has a lot riding on its CEO’s relationship with Trump, including federal approval of his self-driving cars as well as legislation that could take away the company’s much-needed regulatory credits.

For now, the AFP reports that the car is still sitting in its White House parking spot as of Friday.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division. Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also includes EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Chris Stokel-Walker5h

Claire Yubin Oh

Shake Shack is launching a French onion soup... burger

The fast-casual chain will be hoping premium upsells can fatten up its profit margins.

Shake Shack French onion soup burger

business

9/11/25

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

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