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Bill Gates has accused Elon Musk of endangering the world's poorest children by advocating for cuts to the US foreign aid infrastructure, particularly targeting USAID. Gates highlighted the negative impact of these cuts, including the defunding of a hospital in Mozambique that prevents HIV transmission from mothers to babies. Musk's dismissal of USAID as a "criminal organization" has drawn criticism, with Gates emphasizing the urgent need for continued support in global health initiatives.
President Trump’s new budget proposal significantly benefits SpaceX, allocating funds for a next-generation missile defense system and prioritizing Mars exploration, despite a nearly 25% cut to NASA's budget. The plan aims to enhance U.S. space dominance and national security while slashing funding for various government sectors, including education and health. Defense spending is set to increase by 13%, raising the military budget to over $1 trillion.
Elon Musk revealed his experiences during overnight stays at the Trump White House, including indulging in an entire tub of caramel Häagen-Dazs ice cream. As head of the Department of Government Efficiency (DOGE), he has played a key role in cutting federal spending, achieving $160 billion in savings, while planning to reduce his involvement in the administration. Musk's government status is set to end on May 30, but he will remain a part-time adviser to Trump.
AstraZeneca and HSBC, the FTSE 100's largest firms, report quarterly results today, influencing market sentiment amid rising concerns over US trade policies affecting the pharmaceutical and banking sectors. AstraZeneca's shares have dropped over 20% since last summer, while HSBC's outlook on Asia, particularly China, is under scrutiny. Additionally, Coca-Cola Europacific Partners releases its first results as a FTSE 100 company, following a product recall earlier this year.
The upcoming week will see significant corporate earnings reports from major UK firms like AstraZeneca, HSBC, and Shell, alongside tech giants such as Apple and Microsoft. Key economic data, including US non-farm payrolls and various PMIs, will also be released, influencing market sentiment. Investors are particularly focused on the impact of US tariffs and global economic conditions on these companies' performances.
The H5N1 bird flu virus, which has spread to mammals in the USA, poses a significant risk due to its mutation potential. Despite the existence of a vaccine, economic interests hinder its use, while criticism mounts against the US Department of Health and Human Services for inadequate response measures. The situation echoes past mistakes from the COVID-19 pandemic, raising concerns about public health preparedness.
US health secretary Robert F. Kennedy Jr. labeled sugar as "poison," urging Americans to eliminate added sugar from their diets while advocating for better food labeling. He also announced plans to remove synthetic food dyes from the US food supply within two years.In other news, US lawmakers condemned the detention of two students for their pro-Palestinian activism, calling it a "national disgrace." They emphasized the need for free speech protections amid concerns over constitutional rights violations.
Trump held a ceremonial swearing-in for Paul Atkins as the new SEC chairman, emphasizing the need for regulatory clarity in the cryptocurrency sector. Meanwhile, the U.S. Army announced new gender-neutral fitness standards for combat roles, and health officials plan to phase out petroleum-based artificial food dyes by 2026. Tesla reported a significant profit drop amid backlash against Elon Musk's leadership, while Wall Street rebounded from previous losses, buoyed by better-than-expected earnings from several companies.
Elon Musk faces significant backlash as his political involvement and association with the Trump administration lead to declining Tesla sales, which plummeted 13% in the first quarter. Public perception of Musk has worsened, with two-thirds of Americans unwilling to consider purchasing a Tesla, attributing their discontent largely to him. Additionally, Musk's political investments, such as in the Wisconsin Supreme Court election, resulted in losses, further diminishing his influence and favorability ratings.
Donald Trump is set to announce significant tariffs, including a 20 percent levy on most imports and a 25 percent tariff on automobiles, in response to perceived unfair treatment of U.S. goods by other countries. This move follows existing tariffs on steel and aluminum against Canada and threatens retaliatory actions from the European Union and other nations. The administration's approach to trade and immigration continues to face scrutiny, particularly regarding deportations and the ongoing conflict in Ukraine, where peace talks with Russia remain stalled.
Robert F. Kennedy Jr.
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bill gates accuses elon musk of harming poorest children with aid cuts
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