US hits out at EU's 'suffocating regulations' after it fines Elon Musk's X

Steven Rattner, from Willett Advisors, expressed concerns about the U.S. economy's dual nature, highlighting weak consumer spending alongside a thriving tech sector. He emphasized that China is advancing rapidly in electric vehicles, biotechnology, and artificial intelligence, suggesting that U.S. tariffs are unlikely to impede this progress. Rattner advocates for U.S. innovation and effective domestic policies as the primary means of competition against China.

SpaceX, founded by Elon Musk, is reportedly discussing a record valuation that could exceed $800 billion, with plans for an initial public offering (IPO) as early as 2026. This valuation would surpass OpenAI's previous record of $500 billion, indicating significant investor confidence in SpaceX's future prospects.

Elon Musk announced that Tesla owners will soon have the ability to text while driving, despite the legality of such actions being prohibited in nearly all 50 states. Safety experts warn that this feature could undermine the automated driving capabilities of Tesla's Full Self-Driving (FSD) technology, raising concerns about driver distraction and safety.

The European Union (EU) and the Group of Seven (G7) are considering a ban on maritime services for Russian oil exports and an end to the price cap on Russian oil. This move is part of ongoing efforts to tighten sanctions against Russia amid its continued military actions in Ukraine, which have drawn widespread international condemnation.

The UK government is working towards finalizing a youth mobility scheme with the EU by the end of 2026, which would allow tens of thousands of young British and European citizens to live and work in each other's countries. This initiative is part of a broader effort to reset the UK's relationship with Europe following Brexit.

A US official has criticized the European Union's recent fine imposed on Elon Musk's social media platform, X, claiming that Europe is effectively taxing American companies. This statement reflects ongoing tensions between US tech firms and European regulatory practices.

Elon Musk and Bill Gates have expressed concerns that artificial intelligence (AI) could eliminate all jobs within the next 20 years. However, recent data from LinkedIn indicates that hiring demand is actually on the rise, contradicting these predictions and providing a more optimistic outlook for the job market, particularly for Generation Z.

The US government is negotiating to allocate over $1 billion towards two critical minerals and railway projects in central Africa, specifically in Congo, as part of its strategy to secure essential supplies for national security. This initiative highlights the increasing importance of critical minerals in global markets and the US's commitment to enhancing its supply chain resilience.