Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Trading volumes this week are well below their recent averages and that means this comeback may be suspect.Marketsread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year.Marketsread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Musk said in the interview he now needs Ambien to sleep, but board members are concerned that the drug isn't having the intended effect for Musk, the Times reported citing an unnamed source. Instead they fear it's fueling his controversial public statements. The report also says board members are aware that Musk has used unspecified "recreational drugs."
Ambien maker Sanofi warns against taking the sleeping aid unless you intend to stay in bed for a full seven to eight hours.
The report comes amid speculation about drug use around Musk's market-moving tweet about taking the company private. It's just the latest in a series of controversial tweets from Musk, who recently called a diver involved in the Thai cave rescue a pedophile and lashed out at journalists for what he said was unfair coverage. Musk later apologized to the Thai diver and separately for what he called bad manners.
The Aug. 7 tweet sent Tesla shares seesawing and company directors scrambling to do damage control — and at the same time spurred jokes and questions about whether Musk's proposed $420 price tag was inspired by drug use. The number 420 is commonly associated with marijuana.
"I was not on weed, to be clear. Weed is not helpful for productivity. There's a reason for the word 'stoned.' You just sit there like a stone on weed," Musk said in the interview.
Musk said he arrived at the price tag by calculating an approximate 20 percent upside from current stock levels and then rounding up one dollar: "It seemed like better karma at $420 than at $419."
Tesla provided a statement to the Times in response to questions for the article that it attributed to its board, excluding Elon Musk. The statement said, in part, that "We would like to make clear that Elon's commitment and dedication to Tesla is obvious."