The administration is finalizing plans for potential investors in TikTok, with companies like Blackstone and Oracle among the prospective participants, as the deadline approaches for a decision on TikTok's U.S. operations. A meeting in the Oval Office, involving key officials such as Vice President JD Vance and President Donald Trump, is scheduled to discuss the deal and address national security and data privacy concerns stemming from previous legislation requiring ByteDance to divest its U.S. operations. Despite the importance of these discussions, the White House has not disclosed further details, leaving the situation closely monitored as they aim to balance national security with economic considerations.
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Tesla's stock surged by 9.5% following a letter to former trade representative Jamieson Greer, highlighting concerns over potential retaliatory tariffs linked to Trump administration policies. The stock market rally was further fueled by reports that President Trump decided against imposing broad tariffs on key industrial sectors, boosting investor confidence. Meanwhile, Hyundai announced a $5.8 billion investment in a new steel plant in Louisiana, creating 1,300 jobs, as part of a broader trend of companies like Apple and Oracle planning significant U.S. investments to align with the administration's domestic manufacturing goals.
Elizabeth Holmes, founder of the now-defunct Theranos, has begun her 11-year sentence for defrauding investors of millions of dollars. Holmes was able to raise more than $700 million in venture capital funding for the company, but its technology was never able to live up to its promise and was eventually exposed as a fraud. Her conviction serves as a reminder of the consequences of fraud and the importance of due diligence when investing.