Telecommunications providers raise prices due to Trump tariffsThe major smartphone providers Verizon $VZ (+1,43 %), AT&T $T (+0,71 %) and T-Mobile $XOM (+0,15 %) are facing a possible price increase in connection with the tariffs imposed by President Trump. Initially, the smartphone industry seemed to be spared from these tariffs, but the current exemption could soon end. Experts are analyzing that the price of the iPhone 15 could rise from the current 699 euros to 839 euros. Verizon CEO Hans Vestberg made it clear that these high tariffs cannot be borne by the companies and will ultimately burden consumers. AT&T CEO John Stankey also emphasized that the costs must be passed on to end customers. T-Mobile CEO Mike Sievert added that the uncertainty surrounding the tariffs is having a major impact on providers' pricing and that an adjustment may be necessary in order to overcome the economic challenges.
Elon Musk reduces role at Doge after Tesla issuesElon Musk has announced that he is stepping down from his role in the Trump administration team Doge. This decision comes at a time when Tesla is facing $TSLA (+2,38 %) is struggling with a drastic 71% drop in profits. President Trump confirmed that Musk's withdrawal was planned and assured that Tesla will continue to receive support after his departure. While Musk has not revealed full details about his retirement, the length of time he has been a "special government employee" (SGE) could play a role. In light of the protests against Tesla and the associated financial challenges, Musk plans to spend less time at Doge in order to return his focus to the problems at Tesla. Despite the challenges and uncertainties, Tesla's share price still rose after Musk's announcement, showing that investors are hoping he will return to his roots.
Sources:
https://www.bbc.com/news/articles/c1dr6k6rvl7o
