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This week in startups saw a mix of positive and negative developments. Proxima Fusion gained credibility with plans for a reliable fusion power plant, while Y Combinator faced backlash after deleting posts about Optifye.ai, criticized as "sweatshops-as-a-service." Notable funding rounds included Quantum Machines' $170 million Series C and Shop Circle's $60 million Series B, highlighting significant investor interest in innovative technologies.
Investor sentiment has declined amid new tariff announcements and concerns over NVIDIA's growth, with only 19% of investors expecting stock gains in the next six months, the lowest since 1987. Despite this, the bull market remains intact, and capital preservation strategies, along with quality bonds and gold, are recommended to navigate upcoming volatility.
DBS Group plans to cut around 4,000 temporary jobs over the next three years, with some tasks being automated through artificial intelligence. Meanwhile, Tesla's new registrations in Europe have halved despite a 33% increase in overall electric car sales. Zürcher Kantonalbank is restructuring to create a new "Private Clients" unit, appointing Susanne Thellung as head, effective June 1, 2025. The Swiss economy showed a slight growth of 0.5% in Q4 2024, while Raiffeisen Group reported lower profits due to changing interest rates.
Starlink, owned by Elon Musk, is reportedly being used by scam compounds in Myanmar, where around 120,000 trafficking victims are forced to commit online fraud. Despite being banned in the country, data shows extensive Starlink usage at these sites, raising concerns about its role in facilitating modern slavery and organized crime. Efforts to address this issue have been met with silence from SpaceX, even as officials call for collaboration to shut down these operations.
In Q4 2024, Switzerland's GDP contracted by 0.2%, while the SMI stock index reached a record high above 13,000 points. Raiffeisen Group reported a 13.1% drop in profit due to a challenging interest rate environment, despite growth in the mortgage market and corporate client business. Meanwhile, the German economy faced a decline, impacted by weak exports and production in key sectors.
The US's trade surplus with Australia has shielded Australian agricultural exports from new tariffs, according to Rabobank. While Australia enjoys a favorable trade balance, the US remains a crucial market for its beef, lamb, and wine, with potential tariffs posing risks to these sectors. The report outlines nine waves of US tariffs impacting global food and agriculture, highlighting significant disruptions for countries with trade deficits with the US.
During his first Cabinet meeting, President Trump welcomed Elon Musk, co-chair of the 'department of government efficiency' (DOGE), who emphasized his role in cutting government spending. Musk's team faces backlash over a controversial email demanding federal staff report their weekly work, with threats of termination for non-compliance. Trump also confirmed Ukraine's President Zelenskyy's upcoming visit to sign a minerals deal but ruled out any security guarantees for Ukraine, stating NATO inclusion is off the table.
During his first Cabinet meeting of a second term, President Trump announced a 25% tariff on imports from Canada, Mexico, and the EU, claiming the bloc was designed to disadvantage the US. He also dismissed Ukraine's NATO aspirations, stating they could "forget about" joining the alliance amid ongoing conflict with Russia.Elon Musk, attending the meeting, emphasized the importance of the Department of Government Efficiency (DOGE) in addressing the US deficit, warning that without it, "America will go bankrupt." Musk defended his controversial management practices, including requiring government workers to justify their work weekly.
During his first cabinet meeting of a second term, President Trump, alongside Elon Musk, discussed significant workforce reductions in the federal government and the controversial role of Musk's Department of Government Efficiency (DOGE). Musk defended DOGE's actions, claiming they were essential for reducing the deficit, while Trump proposed a "gold card" for wealthy immigrants as a path to citizenship. The meeting also touched on impending tariffs on Canada and Mexico, with Trump expressing a desire for Canada to become the 51st state.
Deutsche Bank has shifted its stance on the euro from bearish to neutral, citing changes in political dynamics and potential fiscal measures in Germany. The bank sees balanced risks ahead, with possible downside from trade disruptions and upside from proactive German fiscal policies and a resolution to the Ukraine crisis. They are monitoring developments in defense spending and the U.S. Federal Reserve's approach to easing.
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fusion hype and yc controversy dominate startup funding landscape this week
20:13 28.02.2025
Investor sentiment weakens as tariffs and growth concerns impact equities
15:34 28.02.2025
dbs group plans to cut 4000 temporary jobs due to ai integration
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08:25 28.02.2025
starlink technology aids human trafficking operations in southeast asia
12:30 27.02.2025
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08:28 27.02.2025
us tariffs impact global agricultural trade and australian exports
07:07 27.02.2025
Trump proposes gold card visa to boost revenue and replace EB-5 program
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04:25 27.02.2025
trump announces tariffs and discusses ukraine at cabinet meeting with musk
01:32 27.02.2025
trump and musk discuss government efficiency and controversial workforce changes
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21:53 26.02.2025
Deutsche Bank shifts euro outlook to neutral amid changing political dynamics
21:33 26.02.2025
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