The Friday headlines cover a wide range of topics, from global politics and corporate megadeals to domestic economic changes.
Trump slams India-Russia-China summit ties. Thailand has its third Prime Minister in just two years, amid chaos. Musk wants to tie Tesla’s $1 trillion pay package with massive growth targets.
The US job market stagnates with just 22,000 new jobs in August, and unemployment reaches a four-year peak, which boosts expectations for a Fed rate reduction.
Take a look at today’s most popular stories.
Trump targets India, China and Russia
US President Donald Trump stoked the geopolitical fire on Friday by saying that India and Russia appeared to be “lost” in China after their recent meetings with Chinese President Xi Jinping during the Shanghai Cooperation Organisation summit (SCO) in Tianjin.
He shared a picture of all three leaders and said that the US “lost” the two countries.
Trump’s social media post was a classic example of sarcasm. “Looks as though we lost India and Russia in the deepest, blackest China.” They may have a prosperous and long future together!
This kind of statement shows how the US is isolated from other major powers, while China builds its own alliance.
It was a significant summit because Xi and Modi were all together, talking about resolving differences. It is rare to see such a thing, particularly when the countries are at odds with one another. Click here to read the full article
Thailand elects third Prime Minister in less than two years
Anutin Chavirakul, Thailand’s third Prime Minister in the last two years won a Friday parliamentary vote that was not even close.
He easily defeated the Pheu Thai candidate of the Shinawatra clan, who received 63%.
The whole thing started with Anutin’s Bhumjaithai Party pulling out from the previous coalition. This effectively collapsed the Government and plunged Thailand into a new political crisis.
The country is unable to maintain a stable administration for longer than two years.
It’s fascinating to see how Anutin was able to form a successful coalition. The People’s Party was a partner, and they demanded some big promises from him.
In just four months, they want to hold a referendum and run new elections. Anutin may have won but his leash is pretty short.
Elon Musk’s $1 Trillion Challenge
Tesla has just announced what may be the largest CEO compensation package ever – worth up to $1 trillion over the next 10 years.
Here’s the catch. He only gets paid for achieving some truly massive goals, which would completely transform Tesla from what it currently is.
Musk must increase Tesla’s current market value of around $1 trillion to at least $8 trillion to earn the entire payout. This is not only ambitious, but almost impossible.
He also needs to meet some insane operational goals: 20,000,000 cars per year, 1,000,000 robotaxis in use, and 1,000,000 humanoid robotics.
Musk is essentially tied to his compensation if Tesla becomes a dominant player in electric cars and robotics.
Read full report here. Click here to read the full report
US unemployment hits four-year high
In August, the job market was in a bad patch, as employers added just 22,000 jobs, far below what economists had predicted.
It’s an alarming slowdown compared to what has been happening in the last few months. And it’s even worse when we look at revisions.
The economy lost 13,000 jobs in June, which is worse than anybody thought.
This is the first decline in the monthly rate since 2020. It really brings into perspective how the labor market has changed.
It is now the highest unemployment rate in almost four years.
The healthcare industry added some positions, while federal government jobs were cut, along with other sectors, indicating that the problem is widespread.
This original article appeared at ICD.
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