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Elon Musk addressed President Trump's first Cabinet meeting, discussing his role in cutting the federal workforce and revealing he receives death threats for his efforts. He confirmed over 1 million federal employees responded to his email requesting recent accomplishments, which he clarified was a "pulse check." Trump suggested that those who did not respond could be at risk of termination, emphasizing a push for significant workforce reductions across federal agencies.
President Trump endorsed Elon Musk's efforts with the Department of Government Efficiency (DOGE) to reduce federal spending and workforce during his first Cabinet meeting. Musk, tasked with overseeing DOGE's initiatives, emphasized the goal of identifying wasteful spending, despite some confusion among federal employees regarding his recent email directive. Trump also discussed plans for selling citizenship "gold cards" and highlighted an upcoming visit from Ukrainian President Zelenskyy to sign a critical minerals deal.
Elon Musk's Department of Government Efficiency (DOGE) has initiated significant federal layoffs, aiming for a $2 trillion deficit reduction by 2026. Amid backlash, Musk emphasized the necessity of these cuts to prevent national bankruptcy, while also addressing a controversial email response from the OPM that went viral. Additionally, nonprofits are mobilizing to fill funding gaps caused by a freeze on foreign aid, as the Trump administration faces legal challenges over outstanding payments.
Credit Agricole has partnered with Limagrain to offer agrarian customers favorable financing for seed purchases, featuring a maximum loan term of one year and an initial interest rate of just 0.01% for the first four months. The program, which requires no fees for financing or early repayment, is part of a broader initiative that includes over 60 partnership programs aimed at supporting agribusinesses with various agricultural needs. Limagrain, a leading seed company, focuses on high-quality genetics to enhance crop resilience and profitability for farmers.
Elon Musk has issued a new deadline for federal workers to justify their jobs, warning that noncompliance could lead to termination. This follows initial confusion among agencies, with some advising employees to disregard the directive while others encouraged compliance. Concerns have been raised about the impact of workforce cuts, particularly within the Department of Veterans Affairs, as layoffs could hinder efforts to support veterans.
UBS recommends overweighting European stocks, citing ten reasons including the potential relaxation of Germany's "debt brake," significant undervaluation of European equities, and improving GDP growth forecasts. The STOXX Europe 600 Index has outperformed the S&P 500 this year, and many investors are underexposed to European markets despite a growing consensus on their potential.
President Donald Trump indicated that Ukraine's President Volodymyr Zelensky might visit Washington soon as the two nations approach a rare earths minerals deal, with a draft agreement focusing on a reconstruction fund for Ukraine. Trump also expressed openness to an economic partnership with Russia, emphasizing the importance of ending the war in Ukraine and highlighting the potential benefits of collaboration on rare earth resources for global peace.
Rheinmetall shares have surged 50% this year, with UBS analysts projecting a further 35% upside due to increased defense spending following the recent German elections. The company is considering shifting production from car parts to ammunition to meet rising demand, and its stock has been upgraded to "Buy" with a target price of €1,208. Despite potential challenges in changing fiscal policies, defense spending remains a priority, positioning Rheinmetall as a key beneficiary in the evolving landscape.
Rheinmetall AG is poised to benefit significantly from increased defense spending following the recent German election, with UBS raising its stock target by 35% to €1,208. The company’s shares have surged over 800% since Russia's invasion of Ukraine, bolstered by new military orders and expectations of a coalition government prioritizing defense. Despite potential limitations on public borrowing, analysts anticipate that defense will remain a key focus, especially with upcoming NATO initiatives.
UBS has upgraded Rheinmetall AG's share rating from Neutral to Buy, raising the price target from €924.00 to €1,208.00, driven by expectations of increased defense spending potentially reaching 3% of GDP. The company's strong financial performance, including a 111.35% return last year and gross profit margins of 52.53%, supports this optimistic outlook. HSBC also maintains a Buy rating with a €1,000.00 target, highlighting Rheinmetall's strategic positioning to benefit from EU defense initiatives amid rising geopolitical tensions.
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Elon Musk discusses workforce cuts and death threats at Trump Cabinet meeting
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trump supports musk's government efficiency efforts during cabinet meeting
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