Musk could lose billions of dollars depending on how spat with Trump unfolds

Musk could lose billions of dollars depending on how spat with Trump unfolds
This combination of pictures created on June 05, 2025 shows, L/R, Elon Musk looks in the Oval Office of the White House in Washington, DC, on May 30, 2025 and US President Donald Trump in Arlington, Virginia, on Memorial Day, May 26, 2025. (AFP)
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Updated 07 June 2025
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Musk could lose billions of dollars depending on how spat with Trump unfolds

Musk could lose billions of dollars depending on how spat with Trump unfolds
  • “For someone that rants so much about government pork, all of Elon’s businesses are extremely dependent on government largesse, which makes him vulnerable”

NEW YORK: The world’s richest man could lose billions in his fight with world’s most powerful politician.
The feud between Elon Musk and Donald Trump could mean Tesla’s plans for self-driving cars hit a roadblock, SpaceX flies fewer missions for NASA, Starlink gets fewer overseas satellite contracts and the social media platform X loses advertisers.
Maybe, that is. It all depends on Trump’s appetite for revenge and how the dispute unfolds.
Joked Telemetry Insight auto analyst Sam Abuelsamid, “Since Trump has no history of retaliating against perceived adversaries, he’ll probably just let this pass.”
Turning serious, he sees trouble ahead for Musk.
“For someone that rants so much about government pork, all of Elon’s businesses are extremely dependent on government largesse, which makes him vulnerable.”
Trump and the federal government also stand to lose from a long-running dispute, but not as much as Musk.
Tesla robotaxis
The dispute comes just a week before a planned test of Tesla’s driverless taxis in Austin, Texas, a major event for the company because sales of its EVs are lagging in many markets, and Musk needs a win.
Trump can mess things up for Tesla by encouraging federal safety regulators to step in at any sign of trouble for the robotaxis.
Even before the war of words broke out on Thursday, the National Highway Transportation Safety Administration requested data on how Musk’s driverless, autonomous taxis will perform in low-visibility conditions. That request follows an investigation last year into 2.4 million Teslas equipped with full self-driving software after several accidents, including one that killed a pedestrian.
A spokesman for NHTSA said the probe was ongoing and that the agency “will take any necessary actions to protect road safety.”
The Department of Justice has also probed the safety of Tesla cars, but the status of that investigation is unclear. The DOJ did not respond immediately to requests for comment.
The promise of a self-driving future led by Tesla inspired shareholders to boost the stock by 50 percent in the weeks after Musk confirmed the Austin rollout. But on Thursday, the stock plunged more than 14 percent amid the Trump-Musk standoff. On Friday, it recovered a bit, bouncing back nearly 4 percent.
“Tesla’s recent rise was almost entirely driven by robotaxi enthusiasm,” said Morningstar analyst Seth Goldstein. “Elon’s feud with Trump could be a negative.”
Carbon credits business
One often-overlooked but important part of Tesla’s business that could take a hit is its sales of carbon credits.
As Musk and Trump were slugging it out Thursday, Republican senators inserted new language into Trump’s budget bill that would eliminate fines for gas-powered cars that fall short of fuel economy standards. Tesla has a thriving side business selling “regulatory credits” to other automakers to make up for their shortfalls.
Musk has downplayed the importance of the credits business, but the changes would hurt Tesla as it reels from boycotts of its cars tied to Musk’s time working for Trump.
Credit sales jumped by a third to $595 million in the first three months of the year even as total revenue slumped.
Reviving sales
Musk’s foray into right-wing politics cost Tesla sales among the environmentally minded consumers who embraced electric cars and led to boycotts of Tesla showrooms.
If Musk has indeed ended his close association with Trump, those buyers could come back, but that’s far from certain.
Meanwhile, one analyst speculated earlier this year that Trump voters in so-called red counties could buy Teslas “in a meaningful way.” But he’s now less hopeful.
“There are more questions than answers following Thursday developments,” TD Cowen’s Itay Michaeli wrote in his latest report, “and it’s still too early to determine any lasting impacts.”
Michaeli’s stock target for Tesla earlier this year was $388. He has since lowered it to $330. Tesla was trading Friday at $300.
Tesla did not respond to requests for comment.
Moonshot mess
Trump said Thursday that he could cut government contracts to Musk’s rocket company, SpaceX, a massive threat to a company that has received billions of federal dollars.
The privately held company that is reportedly worth $350 billion provides launches, sends astronauts into space for NASA and has a contract to send a team from the space agency to the moon next year.
But if Musk has a lot to lose, so does the US
SpaceX is the only US company capable of transporting crews to and from the space station, using its four-person Dragon capsules. The other alternative is politically dicey: depending wholly on Russia’s Soyuz capsules.
Musk knew all this when he shot back at Trump that SpaceX would begin decommissioning its Dragon spacecraft. But it is unclear how serious his threat was. Several hours later — in a reply to another X user — he said he wouldn’t do it.
Starlink impact?
A subsidiary of SpaceX, the satellite Internet company Starlink, appears to also have benefited from Musk’s once-close relationship with the president.
Musk announced that Saudi Arabia had approved Starlink for some services during a trip with Trump in the Middle East last month. The company has also won a string of other recent deals in Bangladesh, Pakistan, India and elsewhere as Trump has threatened tariffs.
It’s not clear how much politics played a role, and how much is pure business.
On Friday, The Associated Press confirmed that India had approved a key license to Starlink. At least 40 percent of India’s more than 1.4 billion people have no access to the Internet.
Ad revival interrupted?
Big advertisers that fled X after Musk welcomed all manner of conspiracy theories to the social media platform have started to trickle back in recent months, possibly out of fear of a conservative backlash.
Musk has called their decision to leave an “illegal boycott” and sued them, and the Trump administration recently weighed in with a Federal Trade Commission probe into possible coordination among them.
Now advertisers may have to worry about a different danger.
If Trump sours on X, “there’s a risk that it could again become politically radioactive for major brands,” said Sarah Kreps, a political scientist at Cornell University. She added, though, that an “exodus isn’t obvious, and it would depend heavily on how the conflict escalates, how long it lasts and how it ends.”


Early humans survived in a range of extreme environments before global migration, study says

Early humans survived in a range of extreme environments before global migration, study says
Updated 22 June 2025
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Early humans survived in a range of extreme environments before global migration, study says

Early humans survived in a range of extreme environments before global migration, study says
  • This adaptability is a skill that long predates the modern age

WASHINGTON: Humans are the only animal that lives in virtually every possible environment, from rainforests to deserts to tundra.
This adaptability is a skill that long predates the modern age. According to a new study published Wednesday in Nature, ancient Homo sapiens developed the flexibility to survive by finding food and other resources in a wide variety of difficult habitats before they dispersed from Africa about 50,000 years ago.
“Our superpower is that we are ecosystem generalists,” said Eleanor Scerri, an evolutionary archaeologist at the Max Planck Institute of Geoanthropology in Jena, Germany.
Our species first evolved in Africa around 300,000 years ago. While prior fossil finds show some groups made early forays outside the continent, lasting human settlements in other parts of the world didn’t happen until a series of migrations around 50,000 years ago.
“What was different about the circumstance of the migrations that succeeded — why were humans ready this time?” said study co-author Emily Hallett, an archaeologist at Loyola University Chicago.
Earlier theories held that Stone Age humans might have made a single important technological advance or developed a new way of sharing information, but researchers haven’t found evidence to back that up.
This study took a different approach by looking at the trait of flexibility itself.
The scientists assembled a database of archaeological sites showing human presence across Africa from 120,000 to 14,000 years ago. For each site, researchers modeled what the local climate would have been like during the time periods that ancient humans lived there.
“There was a really sharp change in the range of habitats that humans were using starting around 70,000 years ago,” Hallett said. “We saw a really clear signal that humans were living in more challenging and more extreme environments.”
While humans had long survived in savanna and forests, they shifted into everything from from dense rainforests to arid deserts in the period leading up to 50,000 years ago, developing what Hallett called an “ecological flexibility that let them succeed.”
While this leap in abilities is impressive, it’s important not to assume that only Homo sapiens did it, said University of Bordeaux archaeologist William Banks, who was not involved in the research.
Other groups of early human ancestors also left Africa and established long-term settlements elsewhere, including those that evolved into Europe’s Neanderthals, he said.
The new research helps explain why humans were ready to expand across the world way back when, he said, but it doesn’t answer the lasting question of why only our species remains today.


NASA spacecraft around the moon photographs the crash site of a Japanese company’s lunar lander

NASA spacecraft around the moon photographs the crash site of a Japanese company’s lunar lander
Updated 22 June 2025
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NASA spacecraft around the moon photographs the crash site of a Japanese company’s lunar lander

NASA spacecraft around the moon photographs the crash site of a Japanese company’s lunar lander
  • The crash was the second failure in two years for Tokyo-based ispace

CAPE CANAVERAL, Florida: A NASA spacecraft around the moon has photographed the crash site of a Japanese company’s lunar lander.
NASA released the pictures Friday, two weeks after ispace’s lander slammed into the moon.
The images show a dark smudge where the lander, named Resilience, and its mini rover crashed into Mare Frigoris or Sea of Cold, a volcanic region in the moon’s far north. A faint halo around the area was formed by the lunar dirt kicked up by the impact.
NASA’s Lunar Reconnaissance Orbiter captured the scene last week.
The crash was the second failure in two years for Tokyo-based ispace. Company officials plan to hold a news conference next week to explain what doomed the latest mission, launched from Cape Canaveral in January.


Democrats are at odds over the Israel-Iran war as Trump considers intervening

Democrats are at odds over the Israel-Iran war as Trump considers intervening
Updated 22 June 2025
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Democrats are at odds over the Israel-Iran war as Trump considers intervening

Democrats are at odds over the Israel-Iran war as Trump considers intervening
  • Many prominent Democrats with 2028 presidential aspirations are staying silent, so far, on the Israel-Iran war

After nearly two years of stark divisions over the war in Gaza and support for Israel, Democrats are now finding themselves at odds over US policy toward Iran as progressives demand unified opposition to President Donald Trump’s consideration of a strike against Tehran’s nuclear program while party leaders tread more cautiously.
US leaders of all stripes have found common ground for two decades on the position that Iran cannot be allowed to obtain a nuclear weapon. The longtime US foe has supported groups that have killed Americans across the Mideast and threatens to destroy Israel. But Trump’s public flirtation with joining Israel’s offensive against Iran may become the Democratic Party’s latest schism, just as it is sharply dividing Trump’s isolationist “Make America Great Again” base from more hawkish conservatives.
While progressives have staked out clear opposition to Trump’s potential actions, the party leadership is playing the safer ground of demanding a role for Congress before Trump could use force against Iran. Many prominent Democrats with 2028 presidential aspirations are staying silent, so far, on the Israel-Iran war.
“They are sort of hedging their bets,” said Joel Rubin, a former deputy assistant secretary of state who served under Democratic President Barack Obama and is now a strategist on foreign policy. “The beasts of the Democratic Party’s constituencies right now are so hostile to Israel’s war in Gaza that it’s really difficult to come out looking like one would corroborate an unauthorized war that supports Israel without blowback.”
Progressive Democrats use Trump’s ideas and words
Rep. Ro Khanna, D-Calif., has called Trump’s consideration of an attack “a defining moment for our party” and has introduced legislation with Rep. Thomas Massie, R-Kentucky, that calls on the Republican president to “terminate” the use of US armed forces against Iran unless “explicitly authorized” by a declaration of war from Congress.
Khanna used Trump’s own campaign arguments of putting American interests first when the congressman spoke to Theo Von, a comedian who has been supportive of the president and is popular in the “manosphere.”
“That’s going to cost this country a lot of money that should be being spent here at home,” said Khanna, who is said to be among the many Democrats eyeing the party’s 2028 primary.
Vermont Sen. Bernie Sanders, an independent who twice sought the Democratic presidential nomination, pointed to Trump’s stated goal during his inaugural speech of being known as “a peacemaker and a unifier.”
“Very fine words. Trump should remember them today. Supporting Netanyahu’s war against Iran would be a catastrophic mistake,” Sanders said about Israeli Prime Minister Benjamin Netanyahu.
Sanders has reintroduced legislation prohibiting the use of federal money for force against Iran, insisted that US military intervention would be unwise and illegal and accused Israel of striking unprovoked. Senate Democratic leader Chuck Schumer of New York signed on to a similar bill from Sanders in 2020, but he is so far holding off this time.
Some believe the party should stake out a clear anti-war stance as Trump weighs whether to launch a military offensive that is seemingly counter to the anti-interventionism he promised during his 2024 campaign.
“The leaders of the Democratic Party need to step up and loudly oppose war with Iran and demand a vote in Congress,” said Tommy Vietor, a former Obama aide, on X.
Mainstream Democrats are cautious, while critical
The staunch support from the Democratic administration of President Joe Biden and Vice President Kamala Harris for Israel’s war against Hamas loomed over the party’s White House ticket in 2024, even with the criticism of Israel’s handling of the humanitarian crisis in Gaza. Trump exploited the divisions to make inroads with Arab American voters and Orthodox Jews on his way back to the White House.
Today, the Israel-Iran war is the latest test for a party struggling to repair its coalition before next year’s midterm elections and the quick-to-follow kickoff to the 2028 presidential race. Bridging the divide between an activist base that is skeptical of foreign interventions and already critical of US support for Israel and more traditional Democrats and independents who make up a sizable, if not always vocal, voting bloc.
In a statement after Israel’s first strikes, Schumer said Israel has a right to defend itself and “the United States’ commitment to Israel’s security and defense must be ironclad as they prepare for Iran’s response.”
Sen. Jacky Rosen, D-Nevada, was also cautious in responding to the Israeli action and said “the US must continue to stand with Israel, as it has for decades, at this dangerous moment.”
“It really seems like the Trump and Iran war track is kind of going along like a Formula 1 racetrack, and then the Democrats are in some sort of tricycle or something trying to keep up,” said Ryan Costello, a policy director for the Washington-based National Iranian American Council, which advocates for diplomatic engagement between US and Iran.
Other Democrats have condemned Israel’s strikes and accused Netanyahu of sabotaging nuclear talks with Iran. They are reminding the public that Trump withdrew in 2018 from a nuclear agreement that limited Tehran’s enrichment of uranium in exchange for the lifting of economic sanctions negotiated during the Obama administration.
“Trump created the problem,” said Sen. Chris Murphy, D-Connecticut, on X. “The single reason Iran was so close to obtaining a nuclear weapon is that Trump destroyed the diplomatic agreement that put major, verifiable constraints on their nuclear program.”
The progressives’ pushback
A Pearson Institute/Associated Press-NORC Center for Public Affairs Research poll from September 2024 found that about half of Democrats said the US was being “too supportive” of Israel and about 4 in 10 said their level support was “about right.” Democrats were more likely than independents and Republicans to say the Israeli government had “a lot” of responsibility for the continuation of the war between Israel and Hamas.
About 6 in 10 Democrats and half of Republicans felt Iran was an adversary with whom the US was in conflict.
Democratic Rep. Yassamin Ansari, an Iranian American from Arizona, said Iranians are unwitting victims in the conflict because there aren’t shelters or infrastructure to protect civilians from targeted missiles as there are in Israel.
“The Iranian people are not the regime, and they should not be punished for its actions,” Ansari posted on X, while criticizing Trump for fomenting fear among the Iranian population. “The Iranian people deserve freedom from the barbaric regime, and Israelis deserve security.”


Pro-Palestinian protest leader defiant despite US deportation threat

Pro-Palestinian protest leader defiant despite US deportation threat
Updated 22 June 2025
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Pro-Palestinian protest leader defiant despite US deportation threat

Pro-Palestinian protest leader defiant despite US deportation threat
  • Khalil, a legal permanent resident in the United States who is married to a US citizen and has a US-born son, had been in custody since March facing potential deportation

NEWARK, United States: Mahmoud Khalil, one of the most prominent leaders of US pro-Palestinian campus protests, pledged Saturday to keep campaigning after he was released from a federal detention center.
“Even if they would kill me, I would still speak for Palestine,” Khalil said as he was greeted by cheering supporters at Newark airport, just outside New York City.
Khalil, a legal permanent resident in the United States who is married to a US citizen and has a US-born son, had been in custody since March facing potential deportation.
He was freed from a federal immigration detention center in Louisiana on Friday, hours after a judge ordered his release on bail.
The Columbia University graduate was a figurehead of student protests against US ally Israel’s war in Gaza, and the Trump administration labeled him a national security threat.
“Just the fact I am here sends a message — the fact that all these attempts to suppress pro-Palestine voices have failed now,” said Khalil, who is still fighting his potential expulsion from the United States.
He spoke alongside his wife Noor Abdalla, who gave birth to the couple’s first child while Khalil was in detention, as well as Democratic congresswoman Alexandria Ocasio-Cortez.
“Mahmoud Khalil was imprisoned for 104 days by this administration, by the Trump administration, with no grounds and for political reasons, because Mahmoud Khalil is an advocate for Palestinian human rights,” Ocasio-Cortez said.
“This is not over, and we will have to continue to support this case,” she added.
Khalil, who was born in Syria to Palestinian parents, is not allowed to leave the United States except for “self-deportation” under the terms of his release.
He also faces restrictions on where he can travel within the country.
President Donald Trump’s government has justified pushing for Khalil’s deportation by saying his continued presence in the United States could carry “potentially serious adverse foreign policy consequences.”
Beyond his legal case, Khalil’s team fears he could face threats out of detention.
“We are very mindful about his security, and the irony is that he is the one being persecuted,” Baher Azmy, one of his lawyers, told AFP.
“But he is committed to peace and because he is rejecting US government policy he is under threat,” Azmy added, without elaborating on any security measures in place for Khalil and his family.
 

 


Tens of thousands join pro-Palestinian marches across Europe

People attend a pro-Palestinians demonstration in Berlin, Saturday, June 21, 2025. (AP)
People attend a pro-Palestinians demonstration in Berlin, Saturday, June 21, 2025. (AP)
Updated 22 June 2025
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Tens of thousands join pro-Palestinian marches across Europe

People attend a pro-Palestinians demonstration in Berlin, Saturday, June 21, 2025. (AP)
  • Saturday’s marches comes amid heightened global tensions as the United States mulls joining Israel’s strikes against Iran

LONDON: Tens of thousands of pro-Palestinian protesters marched in European cities Saturday calling for an end to the war in Gaza, amid concerns the Iran-Israel conflict could spark wider regional devastation.
In London, AFP journalists saw tens of thousands of protesters, who waved Palestinian flags as they marched through the British capital clad in keffiyeh scarves.
In Berlin, more than 10,000 people gathered in the center of the city in support of Gaza, according to police figures.
And in the Swiss capital Bern, march organizers estimated that 20,000 people rallied in front of the national parliament, urging the government to back a ceasefire.
There have been monthly protests in the British capital since the start of the 20-month-long war between Israel and Hamas, which has ravaged Gaza.
This Saturday, protesters there carried signs including “Stop arming Israel” and “No war on Iran” as they marched in the sweltering heat.
“It’s important to remember that people are suffering in Gaza. I fear all the focus will be on Iran now,” said 34-year-old Harry Baker.
“I don’t have great love for the Iranian regime, but we are now in a dangerous situation.” This was his third pro-Palestinian protest, he added.

Saturday’s marches comes amid heightened global tensions as the United States mulls joining Israel’s strikes against Iran.
Tehran said Saturday that more than 400 people had been killed in Iran since Israel launched strikes last week claiming its arch-foe was close to acquiring a nuclear weapon, which Iran denies.
Some 25 people have been killed in Israel, according to official figures.
One marcher in London, a 31-year-old Iranian student who did not want to share her name, told AFP she had family in Iran and was “scared.”
“I’m worried about my country. I know the regime is not good but it’s still my country. I’m scared,” she said.
Gaza is suffering from famine-like conditions according to UN agencies in the region following an Israeli aid blockade.
Gaza’s civil defense agency has reported that hundreds have been killed by Israeli forces while trying to reach the US- and Israeli-backed aid distribution sites.
“People need to keep their eyes on Gaza. That’s where the genocide is happening,” said 60-year-old protester Nicky Marcus.

In Berlin, demonstrators gathered mid-afternoon close to the parliament, some chanting “Germany finances, Israel bombs.”
“You can’t sit on the sofa and be silent. Now is the time when we all need to speak up,” said protester Gundula, who did not want to give her second name.
For Marwan Radwan, the point of the protest was to bring attention to the “genocide currently taking place” and the “dirty work” being done by the German government.
In Bern, demonstrators carried banners calling on the federal government to intervene in the war in Gaza, expressing solidarity with Palestinians.
The rally there was called by organizations including Amnesty International, the Social Democratic Party, the Greens and the Swiss Trade Union Federation.
Slogans included “Stop the occupation,” “Stop the starvation, stop the violence,” and “Right to self-determination.”
Some marchers chanted: “We are all the children of Gaza.”
The overall death toll in Gaza since the war broke out has reached at least 55,637 people, according to the health ministry.
Israel has denied it is carrying out a genocide and says it aims to wipe out Hamas after the Islamist group’s October 7, 2023 attack on Israel resulted in the deaths of 1,219 people.