We discuss what Gary Cohn's resignation could mean for President Trump's tariff plan. On Tuesday evening, the White House announced that Trump's top economic adviser was leaving. Cohn is a globalist who had clashed with the president over his proposed tariff on aluminum and steel imports. This news, in addition to fears over a global trade war, caused the markets to drop sharply on Wednesday.
The planned sale of the Weinstein Co. has collapsed yet again, just days after terms were agreed to. An investor group, led by former Small Business Administration head Maria Contreras-Sweet, called off the deal late Tuesday after learning the company was in more debt than previously thought. As part of the deal, the investors would have assumed $225 million in debt from the Weinstein Co. After learning new information about the company's finances, Maria Contreras-Sweet said she was forced to pull the deal.
Cheddar CEO Jon Steinberg talks to Discovery's CEO David Zaslav about the company's acquisition of Scripps. The new company will be called Discovery, Inc. Through this deal Discovery, Inc. now reaches 20% of women watching prime time pay-TV. "People are consuming more content than they ever have," says Zaslav. "The real question is, aside from the traditional ecosystem, who is going to be dominant? Who is going to have a strong seat at the table when it comes to content that is consumed on all these other platforms?" Zaslav believes Discovery Inc. has an advantage over its competitors when it comes to attracting mobile audiences.
And we're also joined by Michael Kramer from Seeking Alpha to explore whether Amazon shares have peaked for this year. The stock recently topped $1,500 for the first time ever. Kramer says if the stock follows the same pattern from years past, it could have already peaked for the year. Moving on to Tesla, Kramer points out how the stock seems to be impervious to bad news. He says investors don't really seem to care that Tesla consistently misses on quarterly earnings. In this sense, Kramer says Tesla has an "Amazon-like quality" to it.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
