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☆ Trump will decide the future of government money for healthcare plans. Letting it expire could save money, but the middle class might pay more.
▼ + stars: | 2024-11-29 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

Biden's enhanced ACA subsidies, which lowered premiums for the middle class, will expire in 2025. Biden's expansion increased the financial assistance for people already on ACA plans and lifted the income eligibility cap for those benefits. Related storiesHow ending ACA subsidies would impact Americans and government spendingEnding subsidies would be cheaper for the government and taxpayers. Some Republicans like Vice President-elect JD Vance have said they want to inject needed competition into the health insurance marketplace. Still, Young said letting the ACA subsidies expire will likely mean that healthcare will become more expensive for millions of people.

Persons: Donald Trump, Joe Biden's, Trump, —, Gary Young, Young, JD Vance, it's, KFF, Elon Musk, Vivek Ramaswamy, Robert F, Kennedy Jr, Mehmet Oz, Kennedy, Oz Organizations: Trump, White, Affordable, Medicaid, Republican, Biden, Congressional, Office, ACA, Northeastern University's Center for Health, Healthcare Research, Republicans, of Treasury, Children's Health Insurance, Centers for Disease Control, Social Security, GOP, of Government, Department of Health, Human Services, Centers, Medicare, Services, Forbes Locations: Federal

☆ Musk joins Trump and family for Thanksgiving at Mar-a-Lago
▼ + stars: | 2024-11-29 | by ( Kit Maher | ) edition.cnn.com time to read: +3 min

CNN —Tesla CEO Elon Musk had a seat at the family table for Thanksgiving dinner at Mar-a-Lago, joining President-elect Donald Trump, Melania Trump and their 18-year-old son Barron, in the latest indicator of Trump’s growing bond with the world’s richest man. Yaakov Safar, who took the video, is a French jewelry designer who was invited to Mar-a-Lago as a guest on Thanksgiving. “I was telling @TheSlyStallone that I just watched Demolition Man again and how well it predicted the crazy woke future 30 years ago!,” Musk posted on X. Musk was with Trump at Mar-a-Lago when Ukrainian President Volodymyr Zelensky called to congratulate the president-elect the day after the election, according to a source briefed on the call. On the day after the election, Musk was seen in a Trump family photo at Mar-a-Lago posted by Trump’s granddaughter Kai.

Persons: Elon Musk, Donald Trump, Melania Trump, Barron, Musk, Michael Solakiewicz, “, ” Trump, Trump, Yaakov Safar, “ Trump, Elon, ” Safar, Sylvester Stallone, ” Musk, Vivek Ramaswamy, —, can’t, Volodymyr Zelensky, Zelensky, Mark Zuckerberg, Trump’s, Kai, CNN’s, Kia Fatahi, Kaitlan Collins Organizations: CNN, Mar, Trump, Department, Government, Trump’s, America, SpaceX, Tesla, Trump . Meta, Wednesday Locations: French, “, Trump’s Florida, Ukraine, Lago, Texas

☆ Ditch all the negativity: Here's what can go right to lift each of our 34 stocks
▼ + stars: | 2024-11-29 | by ( Paulina Likos | ) www.cnbc.com time to read: +20 min

To counter that, Jim Cramer has said investors should not lose sight of what can go right for their stocks. Smooth chip updates: AMD needs to successfully carry out its annual release cycle for AI chips. That needs to be sustained to justify Meta's heavy spending on AI chips. Nevertheless, correcting this dynamic should translate into faster revenue growth rates. Palo Alto Networks Bigger deals: Cybersecurity is a secular growth market: As the number of bad actors grows, companies can't afford to not invest in defense.

Persons: Jim Cramer, Abbott, Donald Trump, Trump, Joe Biden, Eaton, Eli Lilly, Eli Lilly's GLP, Lilly, Hurricanes Helene, Milton, Elliott Management's, Elliott, Jim, Linde, Morgan Stanley Lower, Morgan, Biden, –, Jensen Huang, Palo, Stanley Black, Brian Niccol's, Wells, Jim Cramer's, Timothy A, Clary Organizations: Abbott, Devices, Microsoft, AMD, Nvidia, Justice Department, Services, Trump, Apple, Apple Intelligence, Federal, Bristol Myers Squibb, Bristol Myers, Broadcom, Constellation Brands, Modelo, Costco, U.S, Netflix, Coterra Energy, LNG, DuPont, GE Healthcare, GE, Hurricanes, Honeywell Business, Honeywell, Linde, Meta, Facebook, Federal Reserve, GOP, Nvidia's, Industry, Palo Alto, Decker, Starbucks, Walt Disney Parks, TJX, Jim Cramer's Charitable Trust, CNBC, Traders, New York Stock Exchange, Getty Locations: U.S, BlackRock, Corona, China, Dover, –, New York City

☆ Elon Musk and Sylvester Stallone attended Trump's Thanksgiving dinner that's all over social media
▼ + stars: | 2024-11-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk and Donald Trump have been inseparable since the election and spent Thanksgiving together. Sylvester Stallone also attended, and Mark Zuckerberg visited Trump's resort on Wednesday. Elon Musk and Donald Trump have been inseparable since the latter's election victory — and the Tesla CEO was one of several celebrity guests for Thanksgiving at Mar-a-Lago. Elon Musk, Donald Trump, Barron and Melania blasting YMCA at Mar-a-Lago on Thanksgivingpic.twitter.com/elroKGQ9VA — ALX 🇺🇸 (@alx) November 29, 2024Musk isn't the only tech boss to be spending time at Mar-a-Lago this Thanksgiving. Meta CEO Mark Zuckerberg dined with Trump on Thanksgiving eve, the company told Business Insider in a statement.

Persons: Elon Musk, Donald Trump, Sylvester Stallone, Mark Zuckerberg, —, Tesla, Musk, 3wlYgdJus4 — Elon, Vivek Ramaswamy, Trump's, Melania, Barron Organizations: Trump, Mar, Department of Government Locations: Lago, Florida, Mar

☆ Leading Democrat who represents Silicon Valley encourages liberals to stay on X amid Bluesky exodus
▼ + stars: | 2024-11-28 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

AdvertisementA top Democrat urged fellow liberals to remain on Elon Musk's X platform. This month, millions of users have joined Bluesky, which bills itself as a liberal alternative to X.Khanna told Politico that his relationship with Elon Musk is an example of finding common ground. Rep. Ro Khanna, a leading progressive lawmaker representing the heart of Silicon Valley, said liberals shouldn't flee Elon Musk's X, instead urging his fellow Democrats to engage with those who share opposing beliefs. Khanna made the comments on an episode of Politico's Power Play podcast this week amid an exodus of liberal users from X to Bluesky. AdvertisementLast year, Khanna praised Musk as an entrepreneurial "genius" but criticized the Tesla CEO's controversial online behavior, including his posting of edgy memes.

Persons: Khanna, Politico, Elon Musk, Ro Khanna, shouldn't, Elon Musk's, Musk, Donald Trump, Vivek Ramaswamy, Trump Organizations: Elon, Politico, Fox News, CNN, Department of Government Locations: Silicon Valley, California, HASC

☆ Elon Musk's hunger for chips is taxing Nvidia's capacity to make them: report
▼ + stars: | 2024-11-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk's demand for Nvidia chips has put pressure on the company to deliver. Nvidia is feeling the pressure from trying to meet Elon Musk's insatiable demand for chips. Musk's demand for chips was straining the chip giant's supply chain, a sales lead for Nvidia told colleagues in an email obtained by The Wall Street Journal. In June, CNBC reported that Musk had redirected $500 million worth of Nvidia chips from Tesla to X and xAI. Then, in September, Musk announced that xAI had brought a massive new training cluster of Nvidia chips online.

Persons: Elon, Mark Zuckerberg, Meta, Zuckerberg, Musk, Tesla, xAI, Jensen Huang, Huang, Larry Ellison, Jensen, Ellison Organizations: Elon, Nvidia, Wall Street, CNBC, Oracle Locations: Memphis , Tennessee

☆ China’s EV price war is so brutal that BYD is trying to pinch its suppliers
▼ + stars: | 2024-11-28 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

“In 2025, while there will be great opportunities in the EV market, market competition will also become more intense, entering a decisive battle and knockout rounds,” he wrote. “Annual price negotiations with suppliers are a common practice in the car industry,” he wrote. It is not mandatory, and everyone can negotiate.”For 15 years, China’s car market has been the world’s biggest. “This means the price war … is really stressing the system,” he said. BYD is China’s top carmaker, commanding 16.2% of the overall vehicle market in the first 10 months of the year, according to the China Passenger Car Association.

Persons: Hong Kong CNN —, Zhiqi, ”, “, Li Yunfei, Tesla, It’s, Bill Russo, “ BYD, Tu, Le Organizations: Hong Kong CNN, “, CNN, Weibo, ”, SAIC Motor, European Union, Trump, Tu Le, Ford, General Motors, China Passenger Car Association, EV Locations: China, Hong Kong, Shenzhen, BYD, Shanghai, Weibo, Chongqing

☆ DOGE: How far could Elon Musk and Vivek Ramaswamy go to cut federal regulations?
▼ + stars: | 2024-11-28 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Elon Musk and Vivek Ramaswamy intend to lean on two recent Supreme Court rulings that they argue will make it easier to tear up a multitude of federal regulations. However, multiple legal and regulatory experts told CNN that Musk and Ramaswamy are misinterpreting the decisions, which could actually make it harder to overturn existing rules. Slashing needed workersWhat’s more, the endeavor would require a lot of assistance from agency staffers – the very workers that Musk and Ramaswamy have promised to cut. For instance, in a town hall on X last month, Musk repeatedly criticized government regulations, citing their interference with his companies. “It’s quite arduous getting regulatory approval,” Musk said while discussing his Neuralink startup that develops implantable brain-computer interfaces.

Persons: CNN — Elon Musk, Vivek Ramaswamy, Donald Trump, Raimondo, Ramaswamy, won’t, ”, James Broughel, hasn’t, ” Musk, Trump, Nicholas Bagley, “, Richard Pierce Jr, ” Broughel, ” Trump, Broughel, Biden, Joe Biden’s, Musk, ” CNN’s Tierney Sneed Organizations: CNN, Government, Environmental Protection Agency, Loper Bright Enterprises, Competitive Enterprise Institute, ’, Street, Congress, University of Michigan Law School, George Washington University, of Economic, Public Citizen, SpaceX Locations: West Virginia

☆ Trump made unprecedented inroads in Silicon Valley this election
▼ + stars: | 2024-11-28 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

Silicon Valley, long considered a progressive stronghold, has begun to shift toward Donald Trump, according to new voting data analyzed by Business Insider. These numbers show that Trump and Republicans are still a long way off from gaining any real majorities in Silicon Valley. While Elon Musk is based in Texas these days, many of his companies, including Tesla, are still very active in Silicon Valley. Trump, with Musk in support, has promised to cut regulations, which could help Silicon Valley startups grow more quickly. The trend toward Trump in the Silicon Valley electorate mirrors statewide and national trends.

Persons: Donald Trump, Kamala Harris, Harris, Joe Biden, Hilary Clinton, Francisco county's, Trump, Democrat —, Mark Zuckerberg, Marc Andreessen, Ben Horowitz, Horowitz, Elon, Tesla, reelect Trump, JD Vance, Peter Thiel, Ben Narasin, we've, voteshare Organizations: GOP, Business, San, Apple, Google, Nvidia, State, Facebook, Meta, Republican, Trump, Democrat, Democratic, Venture, PayPal, Elon Locations: Santa Clara, San Mateo, San Francisco counties, Silicon, San Francisco Bay, California, San Francisco, San Mateo county, Silicon Valley, Texas, Atherton

☆ The world reacts to Donald Trump's latest trade plans
▼ + stars: | 2024-11-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, the world reacts to Donald Trump's latest trade plans , which could be a massive negotiation tactic . Michael M. Santiago/Getty ImagesThe man who dubbed himself a master negotiator is upending the global trade market with his latest tactic. AdvertisementThe world is reacting to President-elect Donald Trump's new trade proposals targeting China, Mexico, and Canada. There's a lot to unpack, so let's break it down:So, Trump finally gave us an update on his tariff plans. He's telegraphed his plans for hammering Chinese imports, but a 25% tax on Canadian and Mexican goods was a shock.

Persons: Donald Trump's, Trump, Michael M, He's, Will, Justin Trudeau, Claudia Sheinbaum's, Jenny Chang, Rodriguez, Goldman, Scott Wren, Wells Fargo's, They've, Elon Musk's, Omead Afshar, Afshar, Prince Williams, Bill Clark, Astrida Valigorsky, Alyssa Powell, Kendrick Lamar, Drake, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Affordable, Canadian, Trump, US, Companies, Getty, JPMorgan, Deutsche Bank, BI, Tesla, North, Spotify, Universal Music, Wall Street Locations: China, Russia, Mexico, Canada, Canada's, East, New York, Chicago, London

☆ There is no such thing as an all-America car. That’s why tariff will raise car prices.
▼ + stars: | 2024-11-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The US government tracks what percentage of each car’s parts is made “domestically.” But under current trade law, both Canadian-made parts and US-made parts are counted as the same domestic content. “Yes, it’s America’s truck, assembled in America, but not with American parts,” Ivan Drury, director of insights for Edmunds, told CNN. Domestic parts could be tough to findFinding domestic supplies for many of the imported car parts would be difficult. Even if an American parts supply could be found, in most cases it would be more expensive. Fewer imported cars would raise all pricesTariffs on imported vehicles likely would also lead to higher prices on cars that are assembled here, since it would limit the supply of vehicles in the US market.

Persons: Donald Trump, Trump, aren’t, Bill Clinton, Bill Pugliano, Honda, “, it’s, ” Ivan Drury, Edmunds, Jeff Schuster, GlobalData, ”, Drury, “ You’re Organizations: New, New York CNN, GM, Ford, Jeep, Dodge, Chrysler, Toyota, Honda, Tesla, Hyundai, Kia, Nissan, Mazda, Subaru, CNN, Chevrolet Blazer, Chevrolet Silverado Locations: New York, Mexico, Canada, American, United States, China, Lincoln , Alabama, Dearborn , Michigan, Michigan, Missouri, America, Saltillo , Mexico

AdvertisementTrump's new DOGE commission, tasked with cutting spending, has floated laying off federal workers. Government employees told BI they're preparing by networking and freshening their resumes. President Bill Clinton also attempted to reduce federal spending and improve government efficiency with the National Performance Review, led by federal employees. Clinton's panel similarly succeeded in cutting 300,000 federal workers but only managed to get a quarter of proposals that required legislative action through Congress. One senior official at the Commerce Department told BI they anticipate a civil servant brain drain.

Persons: Donald Trump's, Jesus Soriano, who's, Elon Musk, Vivek Ramaswamy, Ramaswamy, Trump's, Brian Hughes, Vance, Soriano, he's, Ronald Reagan, Grace, Bill Clinton, Joyce Howell, —, it's, we're, lifer, Sheria Smith, I'd, Smith Organizations: of Government Efficiency, Business, of Health, Human Services, National Science Foundation, agency's American Federation of Government Employees, GOP, SpaceX, Roivant Sciences, DOGE, of Housing, Urban Development, Veterans Affairs, Homeland Security, Management, Street, Trump, America, Grace Commission, US Postal Service, Postal Service, Environmental Protection Agency, Food and Drug Administration, FDA, of Labor Statistics, Commerce Department, BI, Department of Education, Education Department, aaltcheck Locations: America

☆ 'Dungeons & Dragons' is a cornerstone of big-business nerdworld. A top exec says Wizards of the Coast has a plan to keep the game hot for 50 more years.
▼ + stars: | 2024-11-27 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

BI spoke to a Wizards of the Coast executive to hear how the company is trying to keep "D&D" hot. For half a century, the game of "Dungeons & Dragons" has been a cornerstone of the nerdy experience. Fresh contentWOTC's plan centers on refreshing D&D's core content, including rulebooks like the "Player's Handbook" (PHB), "Monster Manual," and "Dungeon Master's Guide." Lanzillo highlighted one of WOTC's major ongoing collabs: "The Twenty-Sided Tavern," an off-Broadway theater production that's a live, stage-play version of a "D&D" game. AdvertisementDavid Carpenter, the creator of "Twenty-Sided Tavern," told BI that the show involves the audience using software to participate in the two-and-a-half-hour-long program.

Persons: It's, Elon Musk, it's, Chris Cocks, Jess Lanzillo, We've, Lanzillo, WOTC, k0gr6kMDXC, —, Matthew Mercer, — there's, who've, that's, David Carpenter, Carpenter, Bronwen Sharp Felicia Day, Iyengar, Erika Ishii, Gen Organizations: Coast, Hasbro, WOTC, Lanzillo Locations: Converse, New York, North America

☆ Maye Musk welcomes Elon's bromance with Donald Trump and says they 'just seem to be having fun'
▼ + stars: | 2024-11-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk and the president-elect are having "a lot of fun," she said. Maye Musk called her son "the genius of the world" and backed him to slash government waste. Elon Musk and Donald Trump are two of the world's wealthiest and most powerful men. Musk's mother, Maye, commented on their budding bromance in an interview on Fox Business this week: "They just seem to be having fun, a lot of fun, and that's nice for both of them to have fun." However, the negative comments are very… pic.twitter.com/lWLiG1mqfs — Maye Musk (@mayemusk) November 4, 2024Many mothers champion their children and sing their praises, and Maye is no exception.

Persons: Donald Trump, Elon Musk, Maye Musk, Musk, Maye, Elon, dietitian, she's Organizations: Fox, Elon, Trump, White House, Fox Business, SpaceX, Bloomberg, Trump's, USA Locations: America, New York, Lago, Florida, Texas

☆ 'Cargojet is expensive': Short seller bets against Canada's largest cargo airline
▼ + stars: | 2024-11-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

A London-based hedge fund is betting against Cargojet , Canada's largest cargo airline, citing concerns about the company's aging fleet, accounting practices, and leadership style. Allen also claimed that the company has failed to update the age of its aircraft fleet. The Toronto-listed shares of the company have struggled this year, posting a 2% gain while the broader Canadian stock market has risen by nearly 25%. At the time of Allen's presentation slide titled "Cargojet is expensive," the stock was trading at 27 times earnings and 3.5 times tangible book value. In comparison, traditional airline Lufthansa trades at 7 times earnings, and United Airlines is valued at 9 times earnings estimate.

Persons: Edgar Allen, Ajay Virmani, Allen, they've, Cargojet, They've, Konark Gupta, Gupta, Allen's Sohn, Walter Spracklin, Fadi Chamoun, Chamoun, Drake, Elon Musk, Virmani Organizations: Cargojet, Investment Management, Sohn, United Parcel Service, Federal Express, CNBC Pro, CNBC, Scotiabank, RBC Capital Markets, BMO Research, Lufthansa, United Airlines, Elon Locations: London, Ontario, CJT, Toronto

☆ Tesla and BYD are gearing up for another round in China's brutal EV battle
▼ + stars: | 2024-11-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

BYD is asking suppliers to cut prices and Tesla is rolling out more discounts. The price war is putting some smaller Chinese players under financial pressure. BYD and Tesla have been playing a game of how-low-can-you-go on EV prices in China for the past year, and they don't seem to be slowing down anytime soon. The rivals are asking suppliers to cut prices and rolling out discounts as they prepare for another round in an ongoing EV battle. Elon Musk's automaker kicked off China's EV price war last April, and is attempting to boost sales as it seeks to deliver a record number of cars this year.

Persons: Tesla, Li Yunfei, Aly, BYD, Elon Organizations: Bloomberg, Weibo, Tesla, REUTERS, Elon Musk's, Business Locations: China, Shanghai

☆ JPMorgan sees S&P 500 rising to 6,500 in 2025 thanks to AI and deregulation
▼ + stars: | 2024-11-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 will be propelled to new heights in the new year thanks to momentum in artificial intelligence, a resilient economy and the possibility of easier regulation on industries, according to JPMorgan. The labor market has also held up, with more than 100,000 jobs being added in all but one month this year. The S & P 500 is up 4.1% since the Nov. 5 vote. UBS said this week it sees the S & P 500 rising to 6,400 , while Goldman Sachs and Morgan Stanley expect an expansion to 6,500. His 4,200, the lowest in the CNBC Pro Market Strategist Survey , implies 30% downside from Tuesday's close.

Persons: Dubravko Lakos, Bujas, Donald Trump's, Toll, Goldman Sachs, Morgan Stanley Organizations: Nvidia, Federal Reserve, Microsoft, Exxon Mobil, Tesla, Toll Brothers, Citigroup, UBS, Deutsche Bank, CNBC Pro Market, Survey Locations: Tuesday's, U.S

☆ Musk, Ramaswamy to discuss DOGE with GOP leaders on Capitol Hill Dec. 5
▼ + stars: | 2024-11-27 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Elon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform with Republican congressional leaders Dec. 5, House Speaker Mike Johnson, R-La., announced Wednesday. Johnson said the entrepreneurs will "discuss major reform ideas to achieve regulatory rescissions, administrative reductions, and cost savings" with GOP lawmakers. President-elect Donald Trump has named Musk and Ramaswamy co-chairs of a new outside advisory commission they have dubbed the Department of Government Efficiency (DOGE). Next week's planned meeting is the latest indication that Republican leaders in Congress are taking Musk and Ramaswamy seriously. Yet even the best efforts of Republican leaders in Congress may not be enough to enact many of these ideas.

Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Mike Johnson, Johnson, Ramaswamy, Musk, Spokespeople Organizations: SpaceX, Capitol, Republican, GOP, Department of Government Efficiency, White, Office of Management, Congress, Corporation for Public Broadcasting, Consumer Financial Protection Bureau, Tesla Locations: Brownsville , Texas, U.S

☆ Elon Musk publicized the names of government employees he wants to cut. It’s terrifying federal workers
▼ + stars: | 2024-11-27 | by ( Hadas Gold | Rene Marsh | ) edition.cnn.com time to read: +8 min

Several current federal employees told CNN they’re afraid their lives will be forever changed – including physically threatened – as Musk makes behind-the-scenes bureaucrats into personal targets. “These tactics are aimed at sowing terror and fear at federal employees,” said Everett Kelley, president of the American Federation of Government Employees, which represents more than 800,000 of the 2.3 million civilian federal employees. CNN reached out to all four federal employees who either declined comment or were unable to be reached. Cummings said she already knows of federal employees who “have dedicated their lives to civil service,” already quitting their jobs in anticipation of what’s to come. Ramaswamy did not directly respond to questions about singling out individual federal employees but told CNN: “Most federal employees, like most human beings, are fundamentally good people and deserve to be treated with respect, but the real problem is the bureaucracy.”“Our opponent is not any particular individual.

Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, –, Musk, CNN they’re, ”, Everett Kelley, “ It’s, “, ‘, Mary “ Missy ” Cummings, Tesla, ’, Biden, ” Musk, emojis, ” Kelley, it’s, Missy Cummings, Cummings, Musk’s, Ramaswamy, ” Cummings, “ I’m Organizations: CNN, American Federation of Government Employees, George Mason University, Traffic Safety Administration, Civil, US International Development Finance Corporation, Musk’s Department, Government, of, Tesla Motors, Department of Health, Human Services, HHS, Health, Department of Housing, Urban, DOE, HUD, Twitter, US Navy

That means buyers can combine existing tax credits with the deep discounts on offer over the next three months. Hours after Newsom announced his proposal Monday, Bloomberg News reported that his office planned to exclude Teslas from any state rebate program, citing an idea to limit the proposed aid based on automakers’ EV market shares. The current federal tax credit also applies to leases, and some dealerships are exploiting a loophole that allows EV lessees to qualify for the full $7,500 credit without meeting income or manufacturer requirements. In a recent Edmunds analysis of mid-priced vehicles leased this year, the average monthly payment for EVs when factoring in tax credits was $428, far lower than the $572 for vehicles with gas engines. “If the tax credit goes away and it’s a significant amount that’s being utilized by dealers, you’ll have them rather upset for a while,” Drury said.

Persons: Donald Trump, EVs, ”, Jay Turner, Gavin Newsom’s, Turner, Biden, “ We’re, ” Newsom, Trump, he’d, Karoline Leavitt, Ivan Drury, ” Drury, who’s, Drury, I’d, ” Turner, Elon Musk, Trump’s, Musk, Tesla, Newsom, “ It’s, you’re, ” Buyers Organizations: Wellesley College, Republican, White House, Trump, Cox Automotive, U.S, Congress, Trump White, “ Department, Government, Bloomberg News, ’ EV, NBC News, EV lessees, ” Locations: California, Colorado and Massachusetts, Edmunds, China, Mexico, Canada, U.S

☆ Agility Robotics CEO tells BI how its humanoid robots are entering the workforce — and getting paid for it
▼ + stars: | 2024-11-26 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Agility Robotics is hoping to deploy them across industries like grocery, automotive, and pharma. AdvertisementDigit is Agility Robotics' mobile manipulation humanoid robot. It competes with the likes of Apptronik, which is working with NASA on humanoid robots, and Boston Dynamics, which has created humanoid robots called Atlas that it says can run and jump over obstacles, as well as perform factory-worker tasks. Agility Robotics' humanoid robots are permitted to work only inside a specific, cordoned-off space separate from human workers. Agility Robotics takes a similarly cautious approach to its application of artificial intelligence, which is deep in the hype stage.

Persons: Peggy Johnson, it'd, Johnson, GXO, Ford, —, ChatGPT, doesn't Organizations: Robotics, pharma, Silicon, Agility Robotics, Deloitte, Bureau of Labor Statistics, Digit, GXO Logistics, Mobile, Ford Amazon, Agility, NASA, Boston Dynamics, Gallup, Microsoft, Qualcomm Locations: Lisbon

☆ Agility Robotics CEO tells BI how its humanoid robots are getting paid — and warns against empowering them with AI
▼ + stars: | 2024-11-26 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

AdvertisementAgility Robotics CEO Peggy Johnson says humanoid robots are filling some labor gaps. AdvertisementDigit is Agility Robotics' mobile manipulation humanoid robot. It competes with the likes of Apptronik, which is working with NASA on humanoid robots, and Boston Dynamics, which has created humanoid robots called Atlas that it says can run and jump over obstacles, as well as perform factory worker tasks. Agility Robotics' humanoid robots are currently only permitted to work inside a specific, cordoned-off space separate from human workers. Agility Robotics takes a similarly cautious approach to its application of artificial intelligence, which is deep in the hype stage.

Persons: Peggy Johnson, it'll, Johnson, GXO, Ford, —, Optimus, ChatGPT, doesn't Organizations: Robotics, pharma, Silicon, Agility Robotics, Business, Deloitte, Bureau of Labor Statistics, Digit, GXO Logistics, Mobile, Ford Amazon, Agility, NASA, Boston Dynamics, Gallup, Microsoft, Qualcomm Locations: Lisbon, Portugal

☆ The full list of auto companies cutting jobs, including GM, Ford, and Stellantis
▼ + stars: | 2024-11-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

A protracted transition to electric vehicles is taking its toll on global car companies, many of which still have yet to profit from battery-powered vehicles. This presents a problem for car companies that need mass adoption to deliver profits for these expensive vehicles. Here are all car companies with job cuts planned or already underway in 2024. Prior to the November job cuts, GM also trimmed another 1,000 salaried positions in software and services, according to reports. In addition to these job cuts, Ford also announced curtailed production at a factory in Cologne in the first quarter of 2025.

Persons: Ford, VW's, Stellantis, Elon Musk, Tesla Organizations: Ford, Motors, Detroit, General Motors, GM, United Auto Workers, BYD, Volkswagen, VW, Chrysler, Jeep, UAW, Business, Tesla, Nissan Locations: Detroit, China, Europe, Germany, Cologne, Germany German, BYD, Illinois

☆ Trump's Mexican tariffs threaten to make life more difficult for automakers — including Tesla and BYD
▼ + stars: | 2024-11-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

AdvertisementDonald Trump has vowed to hit Mexico with a 25% tariff, which would affect automakers including Tesla. The threat of tariffs on Mexico has also put a $10 billion new factory proposed by Elon Musk in limbo. Musk backed Trump's election campaign and has been given a role to target wasteful government spending. The world's richest person praised Trump's proposed tariffs on Mexico and China in an X post on Monday, saying they would be "highly effective." Analysts told BI that the tariffs floated by Trump would deter automakers such as Tesla from investing south of the border.

Persons: Donald Trump, Tesla, Trump, Elon Musk, Donald Trump's, Alex Brandon, Musk, Trump's, Sam Fiorani, Fiorani, Ford, Stellantis, David Whiston, Scott Olson, BYD, Stella Li, Stephanie Brinley, Alanis King, Brinley Organizations: Truth, Elon, AP, Investment, UBS, Trump, AutoForecast Solutions, General Motors, GM, Ford, Getty, Toyota, Tacoma, Nissan, Volkswagen, EV, BYD, SAIC, Reuters, Street Journal, Chrysler, BMW, P Global, Toyota Tacoma Locations: Mexico, Monterrey, China, Detroit, United States, Cuautitlan, Toluca, San Luis Potosí

☆ Neuralink wants to hook up its brain implant to a robotic arm
▼ + stars: | 2024-11-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

AdvertisementNeuralink is launching a trial to see if patients can use its brain implant can control a robot arm. Musk previously said Neuralink could be combined with robotic limbs to create a "Luke Skywalker solution." Neuralink has successfully implanted its brain chip in two human patients — and now it wants to hook it up to a robotic arm. Elon Musk's brain implant startup said on Monday that it was launching a trial to test whether patients could use the Neuralink implant to control an "investigational assistive robotic arm." But using Neuralink's brain implant to control robotic limbs has long been part of Elon Musk's vision for the company.

Persons: Elon Musk's, Musk, Luke, Neuralink, Elon Organizations: Convoy, Bluetooth Locations: Elon

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