ibt-mailSep 6, 2024, 9:56 AM

Trump Says He Would Appoint Musk To Audit Federal Government

Newsletter Sep 6, 2024 Quick Six Trump says he would tap Musk to audit federal government Donald Trump announced Thursday that if elected president he would appoint billionaire entrepreneur Elon Musk

Newsletter Sep 6, 2024

Quick Six

Trump says he would tap Musk to audit federal government
Donald Trump announced Thursday that if elected president he would appoint billionaire entrepreneur Elon Musk to lead an audit of government spending and implement "drastic" reform. Trump said that at Musk's suggestion, he would "create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government." Since July, Musk has thrown his weight and considerable wealth behind Trump after a gunman tried to assassinate the former president.
MUSK HAS A HISTORY OF CONFLICT WITH REGULATORS

Biden threatens to block US Steel sale to Japanese company
President Joe Biden is preparing to block Japan's Nippon Steel's acquisition of US Steel, citing national security concerns. The White House is reportedly close to killing the $14.9 billion deal amid bipartisan political opposition. US Steel CEO David Burritt warned that if the acquisition isn't pushed through, thousands of US union jobs could be at risk. The company could be forced to shut some plants and move its headquarters from Pittsburgh.
HOW US STEEL IS PREPARING FOR THE ANNOUNCEMENT

US data show job growth slows in July as labor market cools
The US job market showed signs of cooling in July as data showed that employers posted fewer vacancies than they did in the previous month. According to the Labor Department, there were 7.7 million job vacancies in July, a decrease from 7.9 million in June. This marks the lowest level since January 2021, signaling a possible employment downturn amid increasing layoffs.
SEE WHY ANALYSTS SAY HARRIS IS BEST FOR ECONOMY

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Harris nets $300M, double Trump, in August

Vice President Kamala Harris' political operation hauled in more than $300 million in August, more than double the amount Donald Trump's campaign raised, according to sources familiar with the Democratic presidential nominee's fundraising. Although exact amounts were not provided, the figures show Harris continues to outpace Trump since President Joe Biden quit the race in July and endorsed her. Team Trump announced on Wednesday that it had taken in $130 million in August, a nice haul but less than the $138.7 million it raised in July.

SEE HOW HARRIS' CAMPAIGN CONTINUES TO GAIN MOMENTUM

Brazilians hit Bluesky, Threads after X ban

Millions of Brazilians have flocked to social media platforms such as Threads or Bluesky after Elon Musk's X was shut down in the country. Access to the social network was blocked amid a standoff between Musk and Brazilian Supreme Court judge Alexandre de Moraes, who has made it his mission to crack down on disinformation. Bluesky, a social media network created by Twitter co-founder Jack Dorsey, now has 7.6 million users since the X suspension in Brazil, while searches in Brazil for the term "Threads" have quadrupled since the ban.

PORTUGUESE HAS BECOME THE TOP LANGUAGE ON BLUESKY

Americans say they deserve $240 per hour

A new survey finds that Americans think their time very valuable and Millennials think it is worth the most. Empower released a survey that puts that figure at $240 per hour for the average American, or $500,000 annually for a 40-hour work week. That's more than eight times the average US salary of $59,852. Millennials value their time at $328.84 an hour, while Baby Boomers value their time at just $137.19 an hour.

SEE THE GENERATIONAL DIVIDE FOR THE VALUE OF AN HOUR

Extra point

How much was the first US minimum wage and when was it enacted?

Thursday's answer: US vice presidents Hannibal Hamlin (1861-65) and Henry Wallace (1941-45) were dropped from their party's ticket after one term only to see their replacement (Andrew Johnson and Harry Truman, respectively) become president in the first year of their term.

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