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Chechen warlord Ramzan Kadyrov has leveled accusations against Tesla owner Elon Musk, claiming that his Cybertruck was remotely <a href="https://www.benzinga.com/news/24/08/40504595/military-expert-calls-russian-president-allys-tesla-cybertruck-super-cool-but-useless-combat-vehicle">disabled by Musk</a>.
What Happened: Kadyrov, who has been ruling Chechnya since 2007, alleged that his modified Cybertruck was &#8220;remotely disabled&#8221; by Musk. 
The Chechen leader expressed his indignation in a Telegram post, criticizing Musk&#8217;s actions as unmanly. Earlier in August, Kadyrov had shared a video flaunting the Cybertruck, fitted with what appeared to be a machine gun. 
He hinted that the vehicle, which he asserted was a gift from Musk, would be deployed in the war against Ukraine.
&#8220;Elon Musk behaved badly. He gives expensive gifts from the heart, and then turns them off remotely,&#8221; Kadyrov wrote Thursday in a <a href="https://t.me/RKadyrov_95/5103">post</a> on Telegram.
Then he added in the post saying, &#8220;That&#8217;s not manly. How could you do that, Elon?&#8221; He also mentioned that he had to tow the vehicle after Tesla shut it down. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37195508/putin-pal-elon-musk-fires-back-at-critics-accusing-him-of-supporting-russia" target="_blank" rel="noreferrer noopener">Putin Pal? Elon Musk Fires Back At Critics Accusing Him Of Supporting Russia</a>
Earlier in August, <a href="https://www.benzinga.com/news/24/08/40432032/putin-ally-unveils-tesla-cybertruck-with-machine-gun-invites-musk-to-russia">he announced that the vehicle was presented to him by Musk</a>. &#8220;We received a Tesla Cybertruck from the esteemed Elon Musk. I was pleased to test this new technology and personally witnessed why it's rightfully called the ‘Cyberbeast,&#8221; he said in a statement. 
However, Musk categorically denied having gifted the Cybertruck to Kadyrov. The process through which the warlord procured the vehicle remains a mystery, as direct export of a Cybertruck from the US to Chechnya is barred due to US sanctions.
Despite Kadyrov&#8217;s assertions of the Cybertruck&#8217;s efficacy in combat, experts have voiced skepticism. Mark Cancian, a senior advisor with the International Security Program at the Center for Strategic and International Studies, opined that the vehicle would be &#8220;totally useless&#8221; on the battlefield owing to its weight and charging needs.
Why It Matters: The allegations made by Kadyrov against Musk are significant as they involve a high-profile figure and a globally recognized brand. 
The incident also raises questions about the security and remote control capabilities of Tesla&#8217;s vehicles. 
Furthermore, it brings to light the potential misuse of such vehicles in conflict zones, which could have serious implications for international security and Tesla&#8217;s reputation.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Social Media

Tech

TSLA

Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk 'Remotely Disabled' The Militarized EV

Mark Cuban, the billionaire entrepreneur and "Shark Tank" star, has no interest in running for office. When asked if he would ever consider running for president, Cuban responded bluntly: "No, hell no." For him, the political arena isn't the best place to make a difference, especially when changing the health care system.
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"You can't be president and change health care," Cuban told Wired. "You've got to get Congress behind you and this and that." He thinks partisanship and bureaucracy limit the ability of politicians to effect meaningful change. Rather, he believes the private sector offers a more potent means of effecting change.
Cuban is proving this with his online pharmacy, launched in January 2022, which aims to tackle high drug prices by selling medications with minimal markups. Cuban's approach is simple: the base price of the drug, plus a 15 percent markup, a $5 pharmacy fee, and $5 for shipping.
Trending: This city is the clear winner of Zillow's 2024 Home Value Forecast —<a href="https://www.benzinga.com/money/winner-zillow-2024-home-value-forecast"> No surprise as the number of millionaires there grew by 75% in the last decade.</a>
Cuban's no-nonsense style and business acumen have made him a favorite on "Shark Tank," but his ambitions go beyond TV fame. "As an entrepreneur, you can change anything," he said.&nbsp;
He points to tech innovators like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40837620/nvidia-ceo-jensen-huang-eases-investor-concerns-on-ai-demand-blackwell-timeline-and">Jensen Huang, CEO of Nvidia</a>, as examples of how entrepreneurs can define the future by their actions. "He can pretty much define what's going to happen by how he prices things," said Cuban.
Trending: General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.</a>
Cuban also has <a href="https://www.benzinga.com/news/24/08/40416064/mark-cuban-says-he-would-have-used-a-magic-wand-to-get-rid-of-both-gop-and-democratic-party-consider">strong opinions about the two-party system</a> in the U.S. He's been critical of both major political parties, even consulting lawyers about filing antitrust actions against them. "If I could wave the magic wand, I'd get rid of the two parties," he said in an interview. He believes the current political system drives candidates to extreme positions, making finding common ground and real solutions hard.
See Also: Want to invest in homes?<a href="https://www.benzinga.com/money/realbricks"> $100 is enough on this platform</a> that lets you cash out whenever you want.&nbsp;&nbsp;
Despite his outspoken views and his innate ability to shake things up, Cuban has no plans to jump into the political fray. Instead, he's focused on making changes from the outside. "Who would put themselves through that?" he said about running for president.&nbsp;
Cuban is convinced he can do more good as an entrepreneur than a politician, and he's set on using his influence and resources to fix what he can – whether it's the health care system, the cost of prescription drugs, or how business is done.
Nevertheless, Cuban chose his side, joining hundreds of venture capitalists in pledging support for<a href="https://www.benzinga.com/markets/24/08/40113420/mark-cuban-and-other-venture-capitalists-pledge-support-for-kamala-harris-whos-on-the-list"> Vice President Kamala Harris</a> in the 2024 presidential election.
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Startups

'No, Hell No,' Says Mark Cuban If He'll Run For Office –'You Can't Be President And Change Healthcare.' Entrepreneurs Can Change Anything

Donald Trump has made a bold assertion that women will stop contemplating abortion <a href="https://www.benzinga.com/news/24/02/37192851/donald-trump-mulls-16-week-abortion-ban-in-private-conversations-with-allies">if he triumphs in the upcoming election</a>.
What Happened: This statement follows Kamala Harris&#8216; accusation of Trump being the instigator of a reproductive healthcare crisis.
Trump voiced this claim in an extensive social media <a href="https://truthsocial.com/@realDonaldTrump/posts/113173471737127661">post</a> on Truth Social and reiterated it at a rally in North Carolina. He argued that women&#8217;s health, safety, and optimism have declined compared to his tenure.
He further stated that the matter of abortion has been delegated to the states, implying that women will no longer need to contemplate it.
&#8220;Women are poorer than they were four years ago, are less healthy than they were four years ago, are less safe on the streets than they were four years ago, are more depressed and unhappy than they were four years ago, and are less optimistic and confident in the future than they were four years ago! I will fix all of that, and fast, and at long last this national nightmare will be over,&#8221; Trump said in the post. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40869733/trump-stumbles-again-over-health-care-issues-involving-abortion-and-obamacare">Trump Stumbles Again Over Health Care Issues Involving Abortion And Obamacare</a>
Harris, a staunch supporter of abortion rights, reproached Trump for his influence in appointing three Supreme Court justices who reversed Roe v. Wade in 2022.
She held Trump accountable for the stringent abortion laws in several states, labeling it a healthcare crisis and attributing its inception to Trump.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
A late August poll by The Wall Street Journal indicated that Harris leads Trump among female voters by 13 percentage points, with 33% of women identifying abortion as a pivotal issue.
Meanwhile, Michigan Gov. Gretchen Whitmer (D) has reacted to Trump&#8217;s statement on abortion and has said that Trump is "just deranged."
"I think, you know, this guy just doesn't understand what the average woman is confronting in her life in this country, and how could he? He's not lived a normal life," Whitmer said. 
"Unlike Kamala Harris, who has worked hourly jobs, who knows how important it is that women have health care and access to the medical care that they need,&#8221; she added. 
Why It Matters: The contentious issue of abortion rights has been a significant factor in American politics, with the reversal of Roe v. Wade in 2022 marking a turning point.
Trump&#8217;s claim that his potential victory would eliminate the need for women to consider abortion is a bold assertion that could potentially influence the election&#8217;s outcome. 
This comes at a time when Harris, a vocal advocate for abortion rights, is leading among women voters, according to a recent poll.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Wikimedia Commons

Politics

Trump Says Women Would 'No Longer Be Thinking About Abortion' If He Wins, Whitmer Calls Trump 'Just Deranged'

In a recent interview with Tucker Carlson, Republican vice presidential nominee JD Vance shared his thoughts on the potential reactions from the left if he and Donald Trump <a href="https://www.benzinga.com/news/24/09/40760697/jd-vance-supports-tucker-carlson-amid-holocaust-revisionist-controversy">win the 2024 presidential election</a>.
What Happened: In a conversation released last week, Carlson asked Vance about the possibility of a military coup following a Trump victory. Vance expressed confidence in their chances of winning the election and discussed the potential strategies of the left.
Vance suggested that the left might resort to ballot harvesting and Big Tech to suppress negative stories about their candidate, similar to what he believes occurred in the 2020 election. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No one in Washington seems to know how much we're spending on illegal aliens. JD Vance plans to find out. (0:10) Meet Atlas (1:14) JD Vance's Predictions About the Election (5:30) The Left's Plan to Beat Trump (12:04) How Much Is the US Spending on Illegal Immigration? (23:04)… <a href="https://t.co/L4tj66uLwp">pic.twitter.com/L4tj66uLwp</a>
&mdash; Tucker Carlson (@TuckerCarlson) <a href="https://twitter.com/TuckerCarlson/status/1836525925002838242?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He also expressed concern about the left&#8217;s influence over the U.S. military.
According to Vance, the left might attempt to obstruct Trump&#8217;s presidency by blocking the deportation of illegal immigrants and hiking interest rates. However, he dismissed the idea of a military coup as a likely response.
&#8220;They've already sort of marshaled the ballot harvesting operation, which, of course, is the story of 2020. It's not like, you know, it's not ballot machines were hacked into. The story of 2020 is that they really, you know, turned on this ballot harvesting machine and they used, of course, Big Tech to silence stories that were negative about&nbsp;Joe Biden. They're certainly going to do that again," Vance continued. 
Also Read: <a href="https://www.benzinga.com/news/24/07/40002746/secret-texts-reveal-republican-vp-candidate-jd-vances-past-views-on-trump-police-and-gop-called-ex-p">Secret Texts Reveal Republican VP Candidate JD Vance&#8217;s Past Views On Trump, Police, And GOP: Called Ex-President &#8216;Morally Reprehensible Human Being&#8217;</a>
"I just don't see any evidence that these people are like controlling the puppet strings and they're going to do everything that they can. They are going to do everything that they can, but it's not that much. So right now, yeah, I think Donald Trump's going to be the next president," he added. 
Why It Matters: The speculations shared by Vance highlight the deep political divisions in the U.S. and the potential for contentious reactions to the 2024 election results. 
His comments also underscore the ongoing debates about the role of Big Tech in politics and the influence of the left on the U.S. military. These issues are likely to remain prominent in the lead-up to the 2024 presidential election.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

A Military Coup If Trump Wins? Tucker Carlson Voices Concerns To JD Vance

Kamala Harris is experiencing a surge in popularity with just over six weeks to go before the presidential election. Recent polls indicate a positive shift in her favorability for the first time <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">since President Joe Biden took office</a>.
What Happened: Harris&#8217; favorability has seen a significant uptick. Kristen Soltis Anderson, a founding partner at Echelon Insights, highlighted during an AARP press call that Harris has successfully crafted a more positive narrative about herself.
The polling average from FiveThirtyEight suggests that Americans now perceive Harris in a more favorable light than before. This is a notable shift, considering her previously low polling figures. 
&#8220;She&#8217;s getting a chance to write her own story there and at least has been able to somewhat drive a more positive message about her,&#8221; Business Insider <a href="https://www.businessinsider.com/kamala-harris-favorability-polls-reverse-trump-election-2024-9">quoted</a> Anderson saying on a press call hosted by AARP.
The rise in Harris&#8217; standing is perceived as a cautionary sign for Donald Trump&#8216;s campaign, which has failed to portray Harris as untrustworthy.
Debbie Walsh, the director of the Center for American Women and Politics, pointed out that Harris&#8217; increased visibility and her ability to articulate her strengths and objectives have played a role in her growing popularity. 
&#8220;She has been allowed to shine a bit, which I think is very difficult to do when you&#8217;re the No. 2. By definition, a large part of your job is to stand a few feet to the left and a few feet behind the president and be supportive,&#8221; Walsh told the outlet. 
Tim Malloy, a polling analyst for the Quinnipiac University Poll, mentioned that favorability covers a broad spectrum of voter emotions, which have traditionally been difficult for female candidates to manage.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Tense Standoff In Nail-Biter Polls</a>
Despite the positive shift, the Harris campaign continues to see itself as an underdog. Nate Silver&#8217;s model depicts the race as essentially a toss-up, although it did give Harris a slight advantage in the electoral college race last Friday.
Why It Matters: The surge in Harris&#8217; favorability is a significant development in the 2024 Presidential race. It indicates a shift in public sentiment and could potentially influence the strategies of other candidates. 
The fact that Harris, a female candidate, has been able to navigate the complex landscape of voter emotions and improve her standing is noteworthy. 
This could set a precedent for future female candidates and change the dynamics of political races. The outcome of this race could have far-reaching implications for the political landscape of the U.S.
Read Next
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Voters Warm To Kamala Harris As Election Nears

Warren Buffett is known for his sharp investing mind, but his <a href="https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-">habits are just as interesting</a> – especially his well-documented love for Coca-Cola. As an investor in the company, Buffett doesn't just back the stock; he's a dedicated consumer too. He's famous for drinking about five soda cans daily, mostly Cherry Coke.
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At 94, Buffett still sticks to his sugary routine. In 2015, he joked to Fortune, "I'm one-quarter Coca-Cola," admitting that the drink accounts for 25% of his daily calorie intake.&nbsp;
His passion for the beverage isn't just a habit; it's also tied to his massive investment in the brand. His company, Berkshire Hathaway, holds 400 million Coca-Cola shares, valued at over $28 billion, making up over 10% of the company's portfolio.
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Despite his heavy soda consumption, Buffett hasn't shown much concern about how it affects his health. After a prostate cancer diagnosis in 2012, he didn't shy away from defending his love for Coca-Cola, saying, "I don't think the prostate cancer was caused by Coca-Cola." He even added that he <a href="https://www.benzinga.com/personal-finance/24/03/37563241/warren-buffett-says-hed-trade-a-significant-percentage-of-his-net-worth-for-some-extra-years-of-">hadn't missed a day of work</a> since undergoing treatment.&nbsp;
Fortunately, as Buffett explained in the annual shareholder letter that year: "The good news is that I&#8217;ve been told by my doctors that my condition is not remotely life-threatening or even debilitating in any meaningful way." Just a few months later, in September of 2012, Buffett announced he completed 44 days of radiation.&nbsp;
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Buffett's attachment to Coca-Cola wasn't always a given. For much of his life, he was a Pepsi fan – so much so that his son, Howard, used to call him <a href="https://www.benzinga.com/general/24/02/37240748/warren-buffett-drinks-5-cans-of-coke-per-day-at-93-years-old-but-he-was-a-dedicated-pepsi-drinker-fo">"Pepsi Warren."</a> It wasn't until Don Keough, a neighbor and Coca-Cola executive, entered his life that Buffett switched teams. The connection grew into a personal and professional relationship, leading to Buffett's deep involvement with Coca-Cola.
The billionaire has always stood by his unconventional diet, often saying it brings him happiness. "I always tell people: I found everything I like to eat by the time I was six," he told CNBC. His favorites? Hot fudge sundaes and, of course, Coke.&nbsp;
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But Buffett isn't the only billionaire who loves junk food. Bill Gates has admitted to being <a href="https://www.benzinga.com/personal-finance/24/05/38709585/bill-gates-booked-an-entire-michelin-star-restaurant-for-two-days-he-only-ordered-a-diet-coke-an">hooked on Diet Coke</a>, sipping it throughout the day like it's water. While Gates goes for the diet version, Buffett doesn't shy away from the sugary stuff, sticking with his classic Coke. And they don't just love soda – the billionaire buddies each have exclusive <a href="https://www.benzinga.com/personal-finance/24/05/39083570/billionaire-bill-gates-has-a-mcdonalds-gold-card-that-gives-him-free-food-for-life-worldwide">McDonald's "Gold Cards"</a> that give them free food for life.
Buffett is so committed to his eating habits that he once joked he'd happily trade a year of his life just to eat whatever he wants. It's all part of his philosophy of enjoying life. He's well aware that his diet, which amounts to about 2,600 to 2,700 calories a day, isn't exactly a nutritionist's dream, but he's not interested in changing it anytime soon. For Buffett, happiness—even with extra sugar—is what matters.
Buffett's <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">outlook is simple</a>: enjoy what you love and if that happens to be Cherry Coke, go for it – even if health experts say otherwise. For him, it's worked out pretty well so far.
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Personal Finance

Warren Buffett Owns $28B In Coca-Cola Stock And Drinks 5 Cans A Day – 'I Don't Think The Prostate Cancer Was Caused By The Coca-Cola'

In the race for campaign funds for the upcoming presidential election, Kamala Harris has surged ahead, backed by significant contributions from Wall Street, Silicon Valley, and Hollywood. But Donald Trump and the Republicans have made up some of the gap due to a substantial boost from <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">Tesla Inc. and SpaceX CEO Elon Musk</a>.
What Happened: As per the latest Federal Election Commission filings, Harris&#8217; fundraising efforts in August have given the Democratic ticket a $109 million cash advantage over Trump.
Harris raised $361 million in August, while Trump spent $32 million more than the $130 million he raised, reports Bloomberg.
Trump&#8217;s campaign received backing from new sources, including crypto industry donors and long-time Republican supporters like hedge fund manager Paul Singer. However, the most substantial single gift came from Musk, who donated the maximum amount of $289,100 to the National Republican Congressional Committee.
Trump&#8217;s costly ad campaigns have depleted some of his cash reserves.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
In contrast, Harris and her main super PAC, Future Forward PAC, have booked $421 million in paid media from September through Election Day, nearly double the $216 million for Trump and his allied super PAC MAGA Inc.
Notably, Musk also created a super PAC this year to support Trump and House Republicans, which has been spending millions in recent weeks. The donors to this super PAC will not be disclosed until next month.
Why It Matters: The fundraising race is a crucial indicator of the support each candidate has and can significantly impact their campaign strategies. 
Harris&#8217; lead in fundraising, backed by influential sectors like Wall Street and Silicon Valley, showcases her broad appeal and strong financial backing. On the other hand, Musk&#8217;s support for Trump underscores the tech mogul&#8217;s alignment with the GOP, potentially influencing other tech industry leaders.
However, the effectiveness of these funds will depend on how they are utilized. Trump&#8217;s high expenditure on ad campaigns, despite new support, has led to a depletion of his cash reserves. 
In contrast, Harris&#8217; campaign seems to be more financially robust, with a significant amount booked for paid media. The disclosure of donors to Musk&#8217;s super PAC next month will also be a significant development to watch.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Harris Vs Trump: Kamala Harris Leads In Fundraising As Wall Street, Silicon Valley Boost Her

After <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39801662/the-real-reason-why-donald-trump-has-pivoted-towards-crypto">calling Bitcoin a "scam,"</a> Donald Trump has entered the cryptocurrency market, but his new remarks raise questions about whether he truly understands the field he&#8217;s entering. The former president and his three sons have <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">launched World Liberty Financial (WLFI)</a>, a new cryptocurrency aimed at making the United States the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40743776/trump-reiterates-plans-to-make-us-world-capital-of-crypto-instead-of-attacking-industries-">&#8220;crypto capital of the world.&#8221;</a> 
But his ambiguous and frequently perplexing remarks regarding the initiative have made people wonder if he understands what he&#8217;s advocating.
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"Crypto is one of those things we have to do," Trump stated, before veering off into a ramble that included references to artificial intelligence and high-tech jargon. "Whether we like it or not, I have to do it … It's crypto, it's AI, it's some of the other things," he said, leaving many listeners scratching their heads.
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This confusing rhetoric marks a stark departure from Trump's previous stance on digital assets. Just a few years ago, he condemned Bitcoin as a threat to the U.S. dollar and warned of its use in illegal activities. But according to his most recent financial form, since declaring his candidacy for president again, Trump has allegedly <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40860002/heres-how-much-donald-trumps-crypto-portfolio-is-down-from-the-top-spoiler-its-millions-an">invested between $1 and $5 million in Ethereum</a> in addition to <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/39756520/why-trump-taking-crypto-is-risky">accepting millions of dollars in cryptocurrency donations</a>.
WLFI is being promoted as a stablecoin pegged to the U.S. dollar, supposedly offering a solution to the volatility that plagues other cryptocurrencies. The project has been spearheaded by Trump's sons, Eric and Donald Trump Jr., who have positioned it as a way for ordinary Americans to reclaim financial power from traditional banks.&nbsp;
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On the other hand, critics argue that there are potentially many conflicts of interest in this venture, especially if Trump is reelected and uses his executive power to deregulate the cryptocurrency market, which some people expect him to do and which would, at the same time, benefit his family&#8217;s company.
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According to Bloomberg, the project's key dealmaker, Chase Herro, has a dubious past that includes promoting questionable products and making ethically questionable statements like &#8220;If you do this right, who f&#8212;ing cares if it goes to zero.&#8221; In a 2018 YouTube video, he boasted about being able to sell &#8220;shit in a can, wrapped in piss, covered in human skin, for a billion dollars if the story&#8217;s right.&#8221;
While Trump and his team promote WLFI as a stable financial tool, past events tell a different story. <a href="https://www.benzinga.com/money/why-did-terra-luna-crash">The crash of the Terra-Luna stablecoin</a> wiped out nearly $2 trillion from the crypto market, causing huge losses for many investors. On top of that, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39736579/crypto-markets-entangled-with-100b-in-illicit-funds-since-2019-report">stablecoins have been tied to money laundering</a> and other illegal activities, making people cautious about using them widely.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

'Well, It's Crypto, It's AI, It's Some Of The Other Things,' Says Donald Trump, Unsure Of What His New Crypto Project Even Is

In a memorable appearance on &#8220;The Late Show&#8221; in 2018, Shaquille O&#8217;Neal shared a light-hearted story about a chance encounter with <a href="https://www.benzinga.com/topic/david-beckham">soccer star David Beckham. </a>
While strolling through Beverly Hills, O&#8217;Neal stumbled upon a wallet that caught his attention, the former NBA star, who is also known as Shaq, recalled in the interview. 
&#8220;I was walking one day in Beverly Hills and I found a wallet,&#8221; Shaq <a href="https://www.youtube.com/shorts/ufDlh75h8Ys">recounted</a>. &#8220;Usually when I find wallets, I just take all the money out and just throw them.&#8221; However, this wallet was different. Upon closer inspection, he discovered it belonged to none other than Beckham himself.
Shaq told the story on &#8220;The Late Show&#8221; while sitting next to Victoria Beckham, the wife of the soccer star. 
&#8220;I looked and it said David Beckham. I was like, can&#8217;t be. And I looked at the ID and it was David Beckham,&#8221; he said. Instead of simply handing it over to the front desk, Shaq decided to track Beckham down personally.
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While O&#8217;Neal returned the wallet to Beckham, he also used his comedic personality to try and prank Beckham and also while telling the story on the talk show. 
&#8220;First I played a joke and I was like, I have your wallet. It&#8217;s gonna cost you a million dollars to get it back,&#8221; Shaq said. 
Beckham, however, was quick to recognize the NBA Legend&#8217;s signature humor. &#8220;Shaq, stop playin,&#8221; Beckham responded.
&#8220;The funny thing is, there was some money in his wallet,&#8221; Shaq said. &#8220;&#8216;You know what happened?'&#8221; he recalled Beckham asking.
 &#8220;I was like, nope.&#8221; 
Shaq&#8217;s lighthearted style and funny stories had everyone laughing, highlighting the buddy-buddy vibe between these two sports stars.
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This article was partially written using artificial intelligence and was reviewed by Benzinga editors.
Photo: Shutterstock

Entertainment

Sports

NBA Legend Shaq Once Found A Wallet In Beverly Hills: 'Usually When I Find Wallets I Just Take All The Money Out' — But This One Was David Beckham's, So Here's What He Did

California Gov. Gavin Newsom (D) signed three bills on Tuesday aimed at curbing the use of artificial intelligence in creating misleading images or <a href="https://www.benzinga.com/news/24/09/40912021/gavin-newsom-signs-laws-aimed-at-curbing-deepfakes-around-elections-critical-that-we-ensure-ai-is-no" target="_blank" rel="noreferrer noopener">videos in political advertisements</a>.
The&nbsp;Federal Trade Commission&nbsp;(FTC) alleges &#8220;big tech&#8221; makes little effort to inform social media users of privacy danger or allow <a target="_blank" href="https://www.benzinga.com/government/24/09/40946073/no-privacy-for-profits-sake-ftc-calls-out-amazon-meta-big-tech-for-exposing-users-to-host-of-harms" rel="noreferrer noopener">them to opt out of data collection</a>.
In its bid to create a domestic competitor to rival&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;in the artificial intelligence (AI) chip market, China is reportedly facing significant challenges due to <a target="_blank" href="https://www.benzinga.com/news/24/09/40940596/matching-nvidia-in-short-term-is-unlikely-analysts-predict-as-china-ramps-up-search-for-rivalling-je" rel="noreferrer noopener">U.S. sanctions and technological gaps</a>.
Gaming
Rockstar Games may delay GTA 6's anticipated 2025 release to 2026, according to former technical director Obbe Vermeij's insight. He suggests that a decision on whether to push back the release could be <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40905542/could-gta-6-be-pushed-to-2026-insights-from-former-rockstar-insider" rel="noreferrer noopener">made by mid-2025, mirroring past delays</a>.
Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) stated that FC 25 early access starts on September 20, with a global release on September <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40906473/ea-sports-fc-25-when-and-where-to-play-early-access-global-launch-times" rel="noreferrer noopener">27 for all major consoles and PC</a>.
In an Investor Day event, Electronic Arts said it expects sustained growth in EA SPORTS and outlined plans for new business opportunities beyond gaming, including the EA SPORTS App. It described the EA SPORTS App as socially driven with sports content, live sports data, interactivity and <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40910079/what-happened-with-electronic-arts-stock-today" rel="noreferrer noopener">gaming centered on global football</a>.&nbsp;
Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) is set to bid farewell to 10 titles from its PlayStation Plus subscription service this month, with <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40907983/september-playstation-plus-lineup-whats-coming-and-whats-leaving" rel="noreferrer noopener">LittleBigPlanet 3&nbsp;leading the pack</a>.
Sony has&nbsp;introduced&nbsp;a special 30th Anniversary Collection to mark <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40947591/playstation-celebrates-30-years-with-retro-themed-ps5-pro-and-slim-editions" rel="noreferrer noopener">three&nbsp;decades of PlayStation</a>.
Flappy Bird is making a comeback through the Flappy Bird Foundation, with plans to release a new version by 2025 across multiple platforms. The game&#8217;s original creator, Dong Nguyen, distances himself from the <a target="_blank" href="https://benzinga.com/general/gaming/24/09/40885525/i-did-not-sell-anything-flappy-bird-creator-denounces-games-crypto-infused-comeback" rel="noreferrer noopener">project, stating he has no involvement</a>.
Blizzard's Diablo 4 has reportedly generated $150 million from in-game microtransactions <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40886670/blizzards-diablo-4-generates-150m-from-microtransactions-contributing-to-over-1b-in-sales" rel="noreferrer noopener">since its release in&nbsp;June 2023</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40871056/larry-ellisons-daughters-gaming-company-hit-by-wave-of-mass-resignation-staff-walkout-amid-spinoff" rel="noreferrer noopener">Larry Ellison&#8217;s Daughter&#8217;s Gaming Company Hit By Wave Of Mass Resignation: Staff Walkout Amid Spinoff Failure</a>
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) announced a price increase for its battery replacement&nbsp;service for the&nbsp;iPhone 16 Pro&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40870767/apple-wants-you-to-pay-more-for-iphone-16-battery-replacement-heres-how-much-it-will-cost" rel="noreferrer noopener">and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40870767/apple-wants-you-to-pay-more-for-iphone-16-battery-replacement-heres-how-much-it-will-cost" rel="noreferrer noopener">iPhone 16 Pro Max</a>.
Apple is experiencing lower-than-anticipated demand for its&nbsp;iPhone 16 Pro and Pro Max&nbsp;models during the first weekend of pre-orders, according to <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40872864/apple-staring-at-lower-than-expected-demand-for-iphone-16-pro-and-pro-max-in-the-fi" rel="noreferrer noopener">top analyst&nbsp;Ming-Chi Kuo</a>.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40869770/no-razzle-dazzle-with-latest-iphone-but-apple-wowed-with-these-2-glowtime-announcements-says-gur" rel="noreferrer noopener">No &#8216;Razzle-Dazzle&#8217; With Latest iPhone, But Apple Wowed With These 2 &#8216;Glowtime&#8217; Announcements, Says Gurman</a>
Apple stated that iPhone production in India would hit 20% -25% by 2027, improving margins over time. AirPods and Apple Watch production outside China to exceed <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40927849/apple-expands-beyond-china-to-india-southeast-asia-analyst-warns-of-margin-impact" rel="noreferrer noopener">50% by 2024 and 2027, respectively</a>.
The&nbsp;upcoming trifold smartphone&nbsp;from&nbsp;Huawei Technologies, China's top smartphone maker,&nbsp;is being listed for over $7,000 on online marketplaces, more than double its<a target="_blank" href="https://www.benzinga.com/24/09/40912367/huaweis-trifold-is-now-fetching-7-000-as-buyers-flip-apple-rivals-device-on-online-marketplaces-in-c" rel="noreferrer noopener"> list price, even before its official release</a>.
Technology
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reported that&nbsp;Russian cyber-influence operations&nbsp;are now targeting the&nbsp;Kamala Harris–Tim Walz&nbsp;campaign in the lead-up <a target="_blank" href="https://www.benzinga.com/news/24/09/40912191/harris-walz-campaign-targeted-by-russian-hackers-microsoft-threat-analysis-center-notices-shift-in-t" rel="noreferrer noopener">to the 2024 presidential election</a>.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) announced the launch of more than 100 new open-source AI models and <a target="_blank" href="https://www.benzinga.com/news/24/09/40934797/alibaba-shares-rise-4-in-premarket-after-company-unveils-over-100-new-ai-models-and-text-to-video-to" rel="noreferrer noopener">introduced a text-to-video generation tool</a>.
ByeDance-owned&nbsp;TikTok, the widely-used social media platform for creating and sharing short-form videos, has <a target="_blank" href="https://www.benzinga.com/news/24/09/40890877/tiktoks-future-hangs-in-balance-as-judges-express-skepticism-in-us-court-battle" rel="noreferrer noopener">encountered a doubtful panel of judges</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a>
Billionaire entrepreneur and "Shark Tank" star&nbsp;, Mark Cuban&nbsp;has shared a new patent that allows social media platforms and user profiles to sell <a href="https://www.benzinga.com/news/24/09/40913939/mark-cuban-is-no-poster-boy-for-the-existing-patent-system-but-its-not-stopping-him-from-getting-his">advertisements of any media type</a>.
Elon Musk
Elon Musk has agreed with&nbsp;NVIDIA CEO&nbsp;Jensen Huang's prediction of a future where individuals will have personal digital agents akin to&nbsp;<a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener">Star Wars' R2-D2</a><a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener"> or&nbsp;</a><a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener">C-3PO</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40933824/nvidia-rival-amds-ceo-says-theres-no-one-size-fits-all-as-ai-chip-race-heats-up" rel="noreferrer noopener">Nvidia Rival AMD&#8217;s CEO Says &#8216;There&#8217;s No One Size Fits All&#8217; As AI Chip Race Heats Up</a>
Musk's social media platform,&nbsp;X, formerly&nbsp;Twitter, had managed to temporarily bypass a&nbsp;ban in Brazil with the help of an <a target="_blank" href="https://www.benzinga.com/news/24/09/40932378/elon-musks-x-manages-to-dodge-brazil-ban-with-software-update-court-wants-an-explanation" rel="noreferrer noopener">automatic update of its software</a>.
Mark Cuban said he would be interested in acquiring&nbsp;Rupert&nbsp;Murdoch's Fox News and&nbsp;Elon Musk's X, formerly&nbsp;Twitter, but t<a target="_blank" href="https://www.benzinga.com/news/24/09/40913939/mark-cuban-is-no-poster-boy-for-the-existing-patent-system-but-its-not-stopping-him-from-getting-his" rel="noreferrer noopener">here are certain hurdles involved</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
Artificial Intelligence (AI)
ChatGPT-parent&nbsp;OpenAI&nbsp;has acknowledged that its latest model,&nbsp;known as "o1,"&nbsp;could potentially be <a target="_blank" href="https://www.benzinga.com/news/24/09/40870931/chatgpt-creator-openai-says-its-latest-models-pose-bioweapons-creation-risk-ai-giant-particularly-ca" rel="noreferrer noopener">misused for creating biological weapons</a>.
OpenAI&nbsp;has announced&nbsp;an independent board oversight committee focused on safety and security. It was established in response to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40890661/chatgpt-parent-openai-establishes-oversight-committee-for-safety-amid-recent-fears-of-biological-wea" rel="noreferrer noopener">ongoing security process controversies</a>.
Speaking at an Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) financial analysts meeting, co-founder and CTO of the tech giant,&nbsp;Larry Ellison&nbsp;predicted that&nbsp;artificial intelligence will eventually power <a target="_blank" href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be" rel="noreferrer noopener">extensive law enforcement surveillance systems</a>.
Microsoft&#8217;s LinkedIn, the professional networking giant, has come under scrutiny for reportedly using user data for <a target="_blank" href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t" rel="noreferrer noopener">AI training before&nbsp;updating its terms of service</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40932928/billionaire-tech-ceo-says-not-to-bs-employees-they-are-too-smart-to-believe-ai-will-not-impact-their" rel="noreferrer noopener">Billionaire Tech CEO Says Not To &#8216;BS&#8217; Employees, They Are &#8216;Too Smart&#8217; To Believe AI Will Not Impact Their Jobs: &#8216;If You Think You&#8217;re Going To Try To Game This&#8230;&#8217;</a>

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SONY

Consumer Tech News (Sept 15-Sept 21): Russian Cyber-Influence Operations Targeting Harris–Walz campaign, Apple Raises Price For Battery Replacement & More

Are you <a href="https://www.benzinga.com/personal-finance/24/09/40780915/do-you-know-what-it-takes-to-be-wealthy-when-retired-heres-what-the-top-5-of-retirees-have-in-th">on track for a comfortable retirement</a> or falling behind? The numbers might surprise you.
According to data from the Federal Reserve analyzed by The Motley Fool, the top 10% of Americans – those in the 90th to 100th net worth percentiles – have a median retirement savings of $900,000. That's a pretty solid cushion. Meanwhile, those in the 75th to 89.9th percentiles come in with a median savings of $269,000.
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But what <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">exactly qualifies as "upper class?" </a>While there's no set definition, being in the top 20% by income often puts you in that category. If you're earning around $145,000 or more annually, you <a href="https://www.benzinga.com/personal-finance/24/07/39652328/your-income-might-be-upper-class-and-you-dont-know-it-heres-the-salary-needed-to-reach-elite-sta">might be part of that group</a> depending on where you live.&nbsp;
When looking at the numbers, it's easy to feel discouraged if your retirement savings aren't quite there yet, but keep in mind that these are median figures. That means half of the people in these groups have saved more and half have saved less. What matters is that you're steadily saving and investing toward your future.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Interestingly, the wealthiest Americans aren't just saving more – they're seeing their retirement savings grow much faster. Since 1989, the top 10% has seen their retirement savings increase by 713.24%. That's the power of compound interest in action.
For the rest of the country, the median retirement savings for all households is about $87,000. The median is much lower if you're under 35, at $18,800. So if you're doing better than these numbers, you're already ahead of the game.
See Also: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
One major reason the upper class continues to grow its savings is its investments. The top 10% of households own nearly 87% of stocks, which shows how critical investing is for long-term growth.
Looking to grow your retirement savings? Here are a few strategies:
Save regularly: Set aside a portion of each paycheck specifically for retirement.
Max out your 401(k): Use any employer matching program.
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
Open an IRA: This provides more tax benefits and investment flexibility.
Diversify your portfolio: Spread your investments across different asset types.
Increase your savings rate: As your income grows, aim to boost your savings rate.
Remember, retirement planning is a long-term process. The earlier you start saving and investing, even with small amounts, the more time compound interest has to work in your favor.
Retirement goals also vary based on lifestyle, location and personal preferences. For instance, someone in Northwest Arkansas might need less to live comfortably than someone in Washington D.C. or California.
Ultimately, the focus should be on <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">your financial journey and goals</a>. With steady effort and smart financial choices, you can work toward a comfortable retirement no matter where you start.
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How Does Your Retirement Savings Compare To The Average 'Upper Class' Nest Egg? Here's What The Top 20% Have Saved

Kamala Harris has accepted an invitation for a CNN <a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls">debate scheduled for October</a>, but Donald Trump has not followed suit.
What Happened: Trump said a rally in Wilmington, North Carolina, that it was &#8220;too late&#8221; for another debate. He cited the start of early voting in several states and questioned CNN&#8217;s impartiality as a debate moderator.
Trump said, "The problem with another debate is that it's too late. She's done one debate. I've done two. The voting is cast. The voters are out there."
Meanwhile, the Harris campaign has confirmed its participation in the CNN debate slated for October 23, less than two weeks before Election Day. The campaign stressed that voters &#8220;deserve another opportunity&#8221; to hear from the candidates.
According to the report <a href="https://www.bloomberg.com/news/articles/2024-09-21/harris-team-accepts-oct-23-debate-on-cnn-urges-trump-to-join?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg, despite Trump&#8217;s reluctance to participate in the CNN debate, Harris campaign chairwoman Jen O&#8217;Malley Dillon noted that Trump had previously participated in and praised a CNN debate in June.
Also Read: <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">Nate Silver&#8217;s Forecast: Kamala Harris Retakes Lead Over Donald Trump</a>
"Donald Trump should have no problem agreeing to this debate. It is the same format and setup as the CNN debate he attended and said he won in June, when he praised CNN's moderators, rules, and ratings," the outlet quoted Dillon&nbsp;saying in a statement.
So far, Trump and Harris have only had one debate, which took place on September 10, moderated by ABC News. After a shaky performance by Trump, a CNN snap poll showed voters viewed Harris as the clear winner.
Trump, who has claimed victory in their previous showdown, expressed no need for a second debate. However, he did question CNN&#8217;s neutrality as a moderator and mentioned a past offer to debate Harris on Fox News, which she declined.
Vice-presidential candidates JD Vance and Tim Walz are set to meet in their only debate on October 1 on CBS.
Why It Matters: The refusal of Trump to participate in another debate could have significant implications on the upcoming elections. The debates provide an opportunity for the candidates to present their policies and vision to the voters. 
By declining the invitation, Trump may be missing out on an opportunity to sway undecided voters.
Furthermore, the refusal also raises questions about the role of media outlets as debate moderators. Trump&#8217;s questioning of CNN&#8217;s impartiality could potentially lead to discussions about the neutrality of media outlets in political debates.
Read Next
<a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Polls Reveal This Candidate Is Outperforming In Swing States</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Kamala Harris Ready To Face Off In Second Debate, But Donald Trump Says It's 'Too Late'

Elon Musk had a sharp exchange of words with <a href="https://www.benzinga.com/news/24/05/38782945/metas-chief-ai-scientist-clashes-with-early-openai-investor-vinod-khosla-clearly-can-profit-financia">venture capitalist Vinod Khosla</a> on Musk&#8217;s X platform on Saturday as Khosla brought up government support for Musk&#8217;s businesses.
More Moderate Path Needed: The exchanges started several months ago with Khosla, the co-founder of Sun Microsystems and the venture capital firm Khosla Ventures, calling for an open Democratic convention and criticizing Donald Trump. Replying to Khosla, Tesla CEO Musk said, &#8220;Come on, Vinod. Trump/Vance LFG!!&#8221;
Musk argued that while Trump may not be without flaws, he is good for meritocracy and individual freedom, adding that many years ago this was ensured by the Democratic Party but now it is the Republicans that stands for these.
See Also: <a href="https://www.benzinga.com/news/24/04/38291762/legendary-silicon-valley-vc-vinod-khosla-sees-future-with-billion-robots-freeing-humans-from-undesir">Legendary Silicon Valley VC Vinod Khosla Sees Future With Billion Robots Freeing Humans From &#8216;Undesirable Jobs&#8217; — Elon Musk Agrees</a>
Musk Clarifies Regarding Subsidies: This argument did not go down well with Khosla, who questioned the rationale of subsidies to the ventures of the businessmen and preferred that these might have been used for deficit reduction. &#8220;This &#8216;meritocratic and promote individual freedoms over the heavy hand of government&#8217; I agree with. How much government money does SpaceX get? Could Tesla have survived without EV subsidies?,&#8221; he said, adding that Twitter, which has been rebranded as X following Musk acquiring it, may not be getting government money.
SpaceX is a spacecraft manufacturer, space launch provider, and satellite communications company founded by Musk in 2002. Reduction in the cost of space travel and colonization of Mars were the main premises on which the company was established.
&#8220;Which of these would you rather the government didn&#8217;t spend money on and reduce the deficit?&#8221; Khosla said. <a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp">One of the main challenges before the government is the huge fiscal deficits</a> it has run up and the two mainstream parties have different approaches toward tackling the crisis in hand.
Khosla&#8217;s comments about the deficit elicited a sharp reaction from Musk. &#8220;Do some research before you display your utter ignorance,&#8221; he said. He noted that SpaceX gets no subsidies and received half as much as Boeing for astronaut transport, but did 100% of the work.
Musk also clarified that government subsidies make up only a minor portion of his electric-vehicle manufacturing company Tesla&#8217;s revenue. On the other hand, oil &amp; gas companies get massive tax breaks that exceed those given to the EV industry by several orders of magnitude, he added.
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Government

Elon Musk Responds to Venture Capitalist's Claim On Government Subsidies For SpaceX, Tesla: 'Do Some Research Before You Display Your Utter Ignorance'

T. Rowe Price&#8217;s new 2024 Defined Contribution Consultant Study highlights significant shifts in <a href="https://www.benzinga.com/topic/retirement">retirement planning strategies</a>, particularly when it comes to personalization and retirement income.
The <a href="https://www.troweprice.com/institutional/us/en/lp/defined-contribution/consultant-research-study.html">study</a>, which surveyed 35 leading firms, reveals that consultants, advisors, and plan sponsors have significantly shifted their strategies and priorities over the last few years.
A striking change since 2021 is the increased engagement with retirement income strategies. In 2021, 59% of consultants and advisors reported that over half of their plan sponsor clients had no clear stance on retirement income. By 2024, this figure plummeted to 19%, indicating a growing prioritization of retirement income in plan offerings.
Jessica Sclafani, global retirement strategist at T. Rowe Price, notes that consultants and advisors are seeking &#8220;solutions that offer choice, personalization, flexibility and are cost-effective.&#8221; The study shows a preference for simple, systematic withdrawal capabilities as the most appealing strategy for delivering income to retired participants.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a>
Personalization, especially for near-retirees, emerged as a key theme. Managed accounts are gaining traction as opt-in investment options, though target date funds remain the predominant default investment alternative. The study also reveals strong support for transitioning from mutual fund-based target date solutions to collective investment trusts, primarily for cost efficiency.
Fixed income strategies have evolved in response to post-pandemic interest rate increases. The study reports that 89% of respondent firms now prioritize diversification opportunities, up from 48% in 2021. There&#8217;s also growing support for non-traditional bond allocations within target date solutions, with active management favored in high-yield bonds and emerging markets debt.
The research anticipates growth in in-plan emergency savings programs, with 70% of firms expecting such offerings to become more common within the next three to five years.
These findings underscore a significant shift in the retirement planning landscape, with increased focus on personalized, flexible, and cost-effective solutions to meet the evolving needs of plan participants across different life stages.
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Financial Advisors

Retirement Strategies In 2024 Focus On Flexibility And Income

Over the weekend, the cryptocurrency world was buzzing with news. From Anthony Scaramucci&#8216;s comments on former President Donald Trump&#8216;s influence on the crypto industry to a lucky GameStop customer&#8217;s Bitcoin windfall, there was no shortage of intriguing developments. Here&#8217;s a quick recap of the top stories.
Scaramucci&#8217;s Warning on Trump&#8217;s Crypto Influence
Founder of SkyBridge Capital, Anthony Scaramucci, voiced his concerns about the potential impact of a Trump victory on the cryptocurrency industry at the Token2049 conference. Scaramucci emphasized Trump&#8217;s polarizing effect, suggesting his support for crypto could trigger a backlash from those opposed to him. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">Read the full article here.</a>
GameStop Customer Strikes Bitcoin Gold
A GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) customer hit the jackpot, turning a small purchase into a Bitcoin worth over $60,000. The windfall came from a redemption code in the Cardsmiths Currency Series 1 trading card series, which features influential figures in the cryptocurrency sector. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40918151/kamala-harris-edges-into-50-48-election-betting-odds-lead-but-this-billionaire-warns-he-wi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Edges Into 50:48 Election Betting Odds Lead, But This Billionaire Warns He Will Pull Out Of The Market If The Vice President Wins</a>
Trump&#8217;s Historic Bitcoin Transaction
In a move hailed as &#8216;one of the most historic transactions&#8217;, former President Trump paid for his meal at a crypto-themed bar in New York using Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) during a campaign stop. The move was seen as an attempt to garner support from the crypto community. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">Read the full article here.</a>
Shiba Inu Launches K9 Finance Liquid Staking
The Shiba Inu team announced the launch of the K9 Finance liquid staking platform on the Shibarium network. The new platform is expected to boost SHIB by increasing the total value locked on Shibarium and the transaction volume on the network. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur">Read the full article here.</a>
Ethereum Co-Founder Backs Trump Over Harris for Crypto
Charles Hoskinson, co-founder of the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain, expressed his preference for Donald Trump over Vice President Kamala Harris from a cryptocurrency perspective at the TOKEN2049 conference. Hoskinson emphasized the importance of global regulatory frameworks for crypto, regardless of the U.S. stance. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919168/ethereum-co-founder-says-donald-trump-is-certainly-the-favorite-over-kamala-harris-for-cry">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a>
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 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Markets

$BTC

$ETH

Trump's Historic Bitcoin Transaction, Ethereum Co-Founder Backs Trump Over Harris For Crypto, Gamestop Customer's Bitcoin Windfall, And More: This Week In Cryptocurrency

Former President <a href="https://www.benzinga.com/personal-finance/24/09/40900871/donald-trump-says-inflation-is-the-highest-ever-but-experts-dispute-his-claims-heres-the-truth-a">Donald Trump</a>, never one to shy away from bold claims, stirred the pot again during a visit to Michigan. Speaking in the heart of America's auto industry, he repeated a debunked claim that Chinese automakers are building massive factories in Mexico.
But he didn't stop there. Trump promised to slap a 200% tariff on cars made in these nonexistent plants if they ended up in the U.S.
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&#8220;If I don&#8217;t win, you will have no auto industry within two to three years,&#8221; Trump warned a crowd in Flint. He suggested that a victory for Vice President Kamala Harris in November would end American car manufacturing. According to Trump, the shift to electric vehicles would move jobs directly to China, leaving the U.S. auto industry in the dust.
However, the facts paint a different picture. Under the current administration, auto jobs have increased. According to the Bureau of Labor Statistics, when Trump left office in January 2021, auto jobs had dipped 0.8%, landing just above 949,000, as cited by The Associated Press.&nbsp;
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
Since President <a href="https://www.benzinga.com/real-estate/24/07/39624809/the-last-time-biden-left-the-white-house-he-cashed-in-heres-how-2025-could-bring-another-boost-for-h">Joe Biden</a> took over, auto and parts jobs have jumped by 13.6%, reaching 1.07 million by August. Car sales even ticked up by 2.4% in the first half of this year. The idea that the U.S. auto industry is on its last legs seems a stretch at the very least.
Trump also threw around some familiar rhetoric, pledging to force automakers to build factories in the U.S. by imposing steep tariffs on foreign-made cars. &#8220;It'll be like taking candy from a baby," he said, confident his proposed tariffs would discourage companies from building plants abroad. His plan is simple: if you make cars overseas, you'll pay dearly to sell them in America.
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However, foreign automakers already operate multiple plants in the U.S., mostly in southern states, meaning many are already playing by the rules Trump wants to enforce. While Trump's threats of tariffs may sound tough, experts point out that they often lead to higher prices for American consumers rather than benefiting domestic workers.&nbsp;
Trump&#8217;s tariff proposal also extends to Chinese cars supposedly built in Mexico. &#8220;They&#8217;re owned and built by China in Mexico and a number of them going up right now,&#8221; he claimed.&nbsp;
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However, industry experts have repeatedly stated that this is untrue. The only Chinese auto factory in Mexico is run by JAC, a small company assembling low-cost vehicles from kits. It&#8217;s focused on the Mexican market, not the U.S.
In response to Trump's comments, Michigan Sen. Gary Peters, speaking on behalf of Kamala Harris' campaign, issued a sharp rebuttal. He argued that another Trump presidency would be disastrous for autoworkers.
&#8220;A second Trump term would crush auto jobs, ceding Michigan's global auto manufacturing leadership to the Chinese government," Peters warned. He added that <a href="https://www.benzinga.com/startups/24/08/40196337/kamala-harris-says-rebuilding-the-middle-class-is-a-top-priority-heres-the-investment-strategy-she-b">Harris </a>has a clear plan to bring high-paying manufacturing jobs back to the U.S., ensuring that Michigan workers remain at the forefront of the global auto industry.
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Trump Promises More Tariffs While Repeating His Controversial False Claim About Chinese Automakers Building Major Factories In Mexico

The past week has been a whirlwind for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mix of highs and lows. From concerns over iPhone 16 demand to promising sales figures, regulatory attention from the EU, and expansion plans in Asia, the tech giant has been in the spotlight. Here&#8217;s a recap of the top stories.
iPhone 16 Demand Lower Than Expected
According to top analyst Ming-Chi Kuo, Apple&#8217;s iPhone 16 Pro and Pro Max models experienced lower-than-anticipated demand during the first weekend of pre-orders. Kuo&#8217;s analysis, based on a recent supply chain survey and pre-order data from Apple&#8217;s official websites, suggests a weaker demand for the Pro models.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40872864/apple-staring-at-lower-than-expected-demand-for-iphone-16-pro-and-pro-max-in-the-fi">Read the full article here.</a>
T-Mobile CEO Reports Strong iPhone 16 Sales
Despite earlier concerns, T-Mobile US Inc. CEO Mike Sievert shared promising sales figures for the iPhone 16. In an interview with CNBC&#8217;s Jim Cramer, Sievert revealed that the new model is outperforming last year's model in sales, with customers purchasing higher-end models.
<a href="https://www.benzinga.com/markets/equities/24/09/40932937/apple-iphone-16-selling-at-a-greater-rate-than-last-year-says-t-mobile-ceo-amid-reports-of-lower">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
EU Targets Apple&#8217;s iPhone And iPad Systems
The European Commission has initiated two specification proceedings to help Apple comply with its interoperability obligations under the Digital Markets Act. The move aims to ensure free interoperability to third-party developers and businesses to alleviate the regulator's antitrust concerns.
<a href="https://www.benzinga.com/government/24/09/40943746/after-lightning-port-eu-targets-apples-iphone-and-ipad-systems-demands-greater-access-for-third-part">Read the full article here.</a>
Analyst Unfazed By Early iPhone 16 Demand Trends
Despite initial concerns about demand, Morgan Stanley analyst Erik Woodring remains bullish on Apple. Woodring explains why the early trends should not be a cause for worry, noting that iPhone 16 lead times have doubled from last Friday and have been longer internationally than in the U.S.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40936686/apple-analyst-shrugs-off-lukewarm-early-iphone-16-demand-trends-heres-why-soft-preo">Read the full article here.</a>
Apple&#8217;s Expansion Beyond China&nbsp;JPMorgan analyst Samik Chatterjee reveals that Apple&#8217;s production in India is set to hit 20-25% of total iPhone units by 2027. This move is part of Apple&#8217;s &#8220;China+1&#8221; strategy, reflecting its effort to diversify production away from China amid rising geopolitical tensions.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40927849/apple-expands-beyond-china-to-india-southeast-asia-analyst-warns-of-margin-impact">Read the full article here.</a>
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Samsung To Reportedly Slash Global Workforce By Up To 30% In Certain Divisions Amid Intense Competition From Apple, Huawei</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shutterstock

Media

General

iPhone 16 Demand, EU Regulations, And Expansion Plans: This Week In Appleverse

The past week has been a whirlwind of news in the tech world, with artificial intelligence (AI) taking the spotlight. From predictions about AI-powered surveillance to personal digital agents, the future of AI seems to be on everyone&#8217;s mind. Here&#8217;s a quick recap of the top stories that made headlines over the weekend.
Oracle&#8217;s Larry Ellison Foresees AI-Powered Surveillance
Larry Ellison co-founder and CTO of&nbsp;Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) made a bold prediction about the future of law enforcement. He believes that AI will power extensive surveillance systems, leading to constant supervision of police officers and citizens. Ellison stated, "Every police officer is going to be supervised at all times, and if there's a problem, AI will report that problem and report it to the appropriate person."
<a href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be">Read the full article here.</a>
Elon Musk And Nvidia CEO Share Vision Of AI-Powered Personal Assistants
Elon Musk, CEO of Tesla and SpaceX, agreed with Nvidia Corporation&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang&#8217;s vision of a future where individuals will have personal digital agents akin to Star Wars' R2-D2 or C-3PO. Huang shared his vision during T-Mobile&#8217;s Capital Markets Day 2024, expressing excitement about the idea of a computer that grows smarter over time.
<a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
LinkedIn Under Scrutiny for Alleged Misuse of User Data
Microsoft Corporation's LinkedIn has come under fire for reportedly using user data for AI training before updating its terms of service. This primarily affected users in the U.S., with those in the EU, European Economic Area, or Switzerland likely exempt due to stringent data privacy rules.
<a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t">Read the full article here.</a>
World Wide Technology CEO Warns Against Misleading Employees About AI
Jim Kavanaugh, CEO of World Wide Technology, warned leaders not to deceive employees about the impact of AI on jobs. He emphasized that employees are "too smart" to believe that AI won't change job dynamics and stressed the importance of transparency.
<a href="https://www.benzinga.com/news/24/09/40932928/billionaire-tech-ceo-says-not-to-bs-employees-they-are-too-smart-to-believe-ai-will-not-impact-their">Read the full article here.</a>
Salesforce CEO Criticizes Microsoft&#8217;s Copilot
Marc Benioff, CEO of Salesforce, criticized&nbsp;Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;Copilot by comparing it to the infamous "Clippy" assistant. Benioff stated that Microsoft's Copilot has not offered any value to customers, likening it to selling science projects to companies.
<a href="https://www.benzinga.com/news/24/09/40954193/salesforce-ceo-marc-benioff-slams-microsofts-copilot-compares-it-to-failed-clippy-assistant-like-wer">Read the full article here.</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
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Elon Musk And Nvidia CEO Share Vision Of AI-Powered Personal Assistants, LinkedIn Under Scrutiny And More: This Week In AI

The past weekend was filled with riveting news, from a data scientist&#8217;s election forecast to Elon Musk&#8216;s response to the Trump campaign&#8217;s allegations. Here&#8217;s a quick roundup of the top stories that made headlines.
Data Scientist Predicts &#8216;Drastic Landslide&#8217; for Harris
Thomas Miller, a renowned data scientist from Northwestern University, has predicted a significant victory for Kamala Harris in the upcoming presidential election. Miller, who accurately predicted the 2020 presidential and Georgia senatorial races, uses data from political betting sites to make his forecasts, which he claims are more accurate than traditional polls. <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir">Read the full article here</a>.
Elon Musk Reacts to Trump Campaign&#8217;s Allegations
Tesla CEO Elon Musk responded to the Trump campaign&#8217;s release of over 50 examples of Democrats&#8217; rhetoric that allegedly inspired an assassination attempt on former President Donald Trump. Musk&#8217;s reaction was a simple &#8220;No wonder,&#8221; in response to the campaign&#8217;s assertion. <a href="https://www.benzinga.com/news/24/09/40899012/elon-musk-reacts-after-trump-campaign-releases-over-50-examples-of-democrats-rhetoric-that-inspired">Read the full article here</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/40958452/mark-cuban-says-elon-musk-believes-hes-much-smarter-than-trump-reveals-the-intoxicating-reason-why-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Elon Musk &#8216;Believes He&#8217;s Much Smarter Than Trump,&#8217; Reveals The &#8216;Intoxicating&#8217; Reason Why Tesla CEO Supports Ex-President</a>
Kamala Harris Receives Endorsement from Historic Magazine
Vice President Kamala Harris has received an endorsement from the oldest continuously published magazine in the U.S.- the Scientific American&#8211; for the 2024 presidential election. This endorsement could prove crucial in a tight contest against Donald Trump. <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola">Read the full article here</a>.
Obama-Era Economist Surprised at JD Vance&#8217;s Economic Optimism
Betsey Stevenson, a former economic advisor during the Obama administration, expressed surprise at the economic optimism shown by Donald Trump's running mate JD Vance and his supporters, despite the Federal Reserve's recent rate cut. <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong">Read the full article here</a>.
Elon Musk Suggests Warren Buffett is Preparing for a Harris Win
Tesla CEO Elon Musk suggested that Warren Buffett is positioning for a Kamala Harris win with his $277B cash pile. Meanwhile, pro-Trumper and hedge fund manager John Paulson warned of an equity market exit in the event of a Harris victory. <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h">Fed Delivers Large Rate Cut In Bid To Sustain Labor Market; Stocks, Gold Set New Record Highs: This Week In The Markets</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a> 
Image via Wikimedia Commons

Data Scientist's Election Prediction, Kamala Harris Receives Historic Endorsement From Magazine, Elon Musk Suggests Warren Buffett Is Preparing For A Harris Win And More: Top Political Update This Week

The past week was a rollercoaster ride for the financial world, with the Federal Reserve making a bold move, retail sales showing unexpected resilience, and prominent voices sharing their views on the economy. Here&#8217;s a quick recap of the top stories that made headlines.
Federal Reserve Slashes Interest Rates
In a surprising move, the Federal Reserve cut interest rates by 0.5% at its September Federal Open Market Committee meeting, marking the first rate cut in over four years. This decision, which broke a 12-month streak of steady rates, caught Wall Street analysts off guard as they had anticipated a more modest 25-basis-point cut. <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">Read the full article here</a>.
Obama-Era Economist Surprised by JD Vance&#8217;s Economic Optimism
Betsey Stevenson, a former economic advisor in the Obama administration, expressed her astonishment at Donald Trump's running mate J.D. Vance and his supporters' economic optimism despite the Federal Reserve's recent rate cut. Stevenson stated, "I have to admit that I am pleasantly surprised that J.D. Vance and his supporters think the economy is too strong for the rate cut." <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Media &amp; Technology Group Stock Slides As Lockup Expiration Looms: What&#8217;s Going On?</a>
Retail Sales Rise More Than Expected
U.S. retail sales rose more than expected by 0.1% month-over-month in August, signaling a resilient consumer spending momentum in the middle of the third quarter. This increase, which was more than anticipated, could boost the chances of a smaller interest rate cut. <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40897882/retail-sales-rise-0-1-in-august-more-than-expected-boosting-odds-of-larger-fed-ra">Read the full article here</a>.
Analyst Warns of Stagflation After Fed&#8217;s Rate Cut
Following the Federal Reserve&#8217;s deep 50 basis-point cut to its Fed funds rate, an analyst warned of a return of recession along with stagnation. GLJ Research's Gordon Johnson stated, "Get ready for stagnation," adding that this is the "inflation is Transitory" mistake all over again. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40955933/brace-for-stagflation-after-feds-benevolence-warns-analyst-raising-5-corporate-red-">Read the full article here</a>.
Ray Dalio Highlights Challenges for the Fed
Billionaire investor Ray Dalio pointed out the difficulties faced by the U.S. Federal Reserve as it navigates interest rate cuts amid a heavily indebted economy. Dalio emphasized that the Fed must balance keeping interest rates high enough to benefit creditors while not excessively burdening debtors. <a href="https://www.benzinga.com/news/24/09/40934156/billionaire-ray-dalio-warns-fed-faces-tough-road-ahead-balancing-interest-rate-cuts-and-enormous-us">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile</a>
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 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

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