What we are reading February 26, 2025
Lots of news about restructuring and Elon Musk sucking all the oxygen out of the media atmosphere.
Embattled EV maker Nikola files for Chapter 11 bankruptcy protection
Nikola – a once popular auto startup of investors – filed for bankruptcy protection after failing to secure a buyer or raise additional funds.
Michael Wayland
Singapore’s biggest bank DBS to cut 4,000 roles as it embraces AI
It makes DBS one of the first major banks to offer details on how AI will affect its operations.
DOGE’s Millions: As Musk and Trump Gut Government, Their Ax-Cutting Agency Gets Cash Infusion
The Department of Government Efficiency is funded — and acts — like a federal agency. But the White House has shielded DOGE from the rules that govern such agencies, ProPublica found as it examines the group and expands a list of DOGE workers.
Avi Asher-Schapiro, Andy Kroll and Christopher Bing
Musk compares DOGE to Clinton’s government efficiency initiative, but there are big differences
Elon Musk is likening DOGE’s aggressive government overhaul to a Clinton-era task force that oversaw a shrinking of the federal workforce
ABC News
Elon Musk may be on the brink of achieving the impossible: Salvaging his $44 billon investment in X | CNN Business
In October 2022, Elon Musk paid $44 billion to buy Twitter – almost certainly an overpayment – and he promptly made significant changes that plunged the company into chaos and sent its ad business and valuation into a tailspin. Two and a half years later, Musk appears close to pulling off a minor miracle: The company, now called X, may once again be worth about what he paid for it.
David Goldman, Clare Duffy
When these two agree on everything it is serious.
Home Depot earnings beat Wall Street estimates, as retailer breaks comparable sales losing streak
Home Depot narrowly beat fourth-quarter earnings estimates, but it gave lackluster sales guidance as high interest rates and home prices pose challenges.
Melissa Repko
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