Monday, October 12
WASHINGTON: Billionaire Tesla chief executive officer Elon Musk is leaving the Trump administration after leading a tumultuous efficiency drive, during which he upended several federal agencies but ultimately failed to deliver the generational savings he had sought.His "off-boarding will begin tonight," a White House official told Reuters late Wednesday, confirming Musk's departure from government. Musk earlier on Wednesday took to his social media platform X to thank President Donald Trump as his time as a special government employee with the Department of Government Efficiency draws to an end.Tesla shares rose more than 2% on Thursday after after the news, fueling hopes that he will sharpen focus on the automaker as it gears up for its hotly anticipated robotaxi debut.Musk's departure wa
President Donald Trump's trade war has cost companies more than $34 billion in lost sales and higher costs, according to a Reuters analysis of corporate disclosures, a toll that is expected to rise as ongoing uncertainty over tariffs paralyzes decision making at some of the world's largest companies. Across the United States, Asia and Europe, companies including Apple, Ford, Porsche and Sony have pulled or slashed their profit forecasts, and an overwhelming majority say the erratic nature of Trump's trade policies has made it impossible to accurately estimate costs. Reuters reviewed company statements, regulatory filings, conference and media call transcripts to pull together for the first time a snapshot of the tariff cost so far for global businesses. The $33 billion is a sum of estimate
Shares of Unified Data-Tech Solutions made their market debut on Thursday, listing at Rs 285 on the BSE SME—4.4% above the IPO price. The Rs 144.47 crore public issue, open from May 22 to May 26, saw strong demand, with an overall subscription of 91.12 times.The IPO was entirely an offer for sale of 52.92 lakh shares, priced at Rs 273 per share. While the qualified institutional buyers subscribed 83.22 times, the HNI portion saw a phenomenal subscription of 212.43 times. Even the retail segment recorded a solid 43.62 times oversubscription, confirming wide-based interest in the Mumbai-based IT service provider.Ahead of the listing, market sentiment remains optimistic. Shares of Unified Data-Tech are commanding a grey market premium (GMP) of Rs 58, suggesting a potential listing price of
