Anthony Edwards demands accountability as Timberwolves face ongoing struggles
Sports

Anthony Edwards demands accountability as Timberwolves face ongoing struggles

Anthony Edwards, known for his fearless demeanor on and off the court, didn't hold back after the Minnesota Timberwolves suffered a 115-104 loss to the Sacramento Kings. The young star, now in his fifth NBA season, offered a blunt criticism of his team's performances, pointing to internal problems as the root of their recent decline. “We are soft (heck) as a team, but not in the way we deal with opponents – internally we are soft,” Edwards said. “We don't communicate, we act like a bunch of kids. This is the reality and if we don't face it we will go in the wrong direction." The Timberwolves, who made it to the Western Conference finals in 2024, have fallen on hard times. After a promising 6-3 start to the season, they have now lost four straight games and seven of their last nin...
Stellantis CEO Carlos Tavares resigns due to internal disagreements
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Stellantis CEO Carlos Tavares resigns due to internal disagreements

Carlos Tavares, the esteemed CEO of Stellantis, resigned unexpectedly, citing "increasingly different opinions" between him and the automaker's board of directors. The announcement, made Sunday, marks the end of Tavares' tenure with immediate effect, leaving the world's fourth-largest automaker searching for a new leader during a difficult period. In a statement, Stellantis confirmed that its board of directors accepted Tavares' resignation and that the search for a new CEO is already underway. The trial is expected to conclude in the first half of next year. Meanwhile, an interim executive committee will be established under the leadership of President John Elkann to oversee the company's operations. Henri de Castries, senior independent director at Stellantis, explained the circumstance...
The Kremlin criticizes potential US pressure to impose the use of the dollar
World

The Kremlin criticizes potential US pressure to impose the use of the dollar

The Kremlin has rejected the idea of ​​the United States forcing other nations to rely on the dollar, warning that such actions could be counterproductive. This statement follows remarks by US President-elect Donald Trump, who suggested imposing economic sanctions on BRICS countries if they pursue alternatives to the dollar or attempt to create a shared currency. Over the weekend, Trump expressed concern about BRICS countries – initially Brazil, Russia, India and China, later expanded to include other nations – potentially adopting a unified currency or diverging from the US dollar in international trade. He warned that any move in this direction would face serious economic repercussions. The BRICS bloc currently does not have a shared currency, although discussions on the idea have gaine...
Scott Bessent is poised to lead the Trump administration’s economic policy
Business

Scott Bessent is poised to lead the Trump administration’s economic policy

Scott Bessent, founder and CEO of Key Square Group LP, has been tapped by President-elect Donald Trump for the crucial role of Treasury secretary. The news has already sparked optimism in financial markets, with stock futures rising and Treasury yields falling early Monday. This reaction followed Friday's announcement that Trump intended to name Bessent, a seasoned Wall Street figure, as his administration's top economic policymaker. The appointment sends a clear signal of Trump's commitment to putting someone with extensive market experience and a shared economic philosophy at the helm of the Treasury Department. Analysts widely praised the decision, noting that Bessent's experience is likely to reassure investors and bolster confidence in the administration's economic strategy....
Trump picks Kevin Hassett to head National Economic Council, rounding out key economic team
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Trump picks Kevin Hassett to head National Economic Council, rounding out key economic team

President-elect Donald Trump has nominated Kevin Hassett to lead the National Economic Council (NEC), placing the veteran economist at the forefront of the administration's decision-making on trade, taxes and deregulation. The announcement, made by Trump on his social media platform Truth Social, marks a significant step in finalizing his economic team ahead of Inauguration Day on Jan. 20. Hassett, who previously served as chairman of the White House Council of Economic Advisers (CEA) during Trump's first term, is no stranger to the administration's economic agenda. During his tenure at CEA, Hassett played a critical role in supporting the 2017 Republican tax cuts and defending the administration's aggressive tariff policies, which targeted key trading partners such as China, Mex...
Trump announces new tariffs on Chinese goods, worsening trade tensions
Business

Trump announces new tariffs on Chinese goods, worsening trade tensions

US-China economic relations are facing new uncertainties after President-elect Donald Trump announced plans to impose an additional 10% tariff on all Chinese imports. The announcement, made on its social media platform Truth Social, signals a significant escalation in trade tensions between the world's two largest economies. Trump's statement came shortly after he revealed his intention to enact a 25% tariff on all imports from Mexico and Canada as one of his first executive actions on Jan. 20, the day he took office. This move is expected to effectively dismantle the existing regional free trade agreement between the three nations. Trump cited illegal immigration and trafficking of illicit drugs, particularly fentanyl, as primary reasons for these sweeping tariff measures. “I ha...
Mbappe struggles as Liverpool dominate Real Madrid in Champions League clash
Sports

Mbappe struggles as Liverpool dominate Real Madrid in Champions League clash

Liverpool produced a commanding performance against Real Madrid in the Champions League on Wednesday, leaving Carlo Ancelotti's side reeling. Among those under most scrutiny was Kylian Mbappe, whose disappointing performance, capped by a missed penalty, added to an already challenging start to his time at the Spanish club. With Vinicius Junior unavailable due to injury, the stage seemed set for Mbappe to shine and cement his place as the cornerstone of Real Madrid's attack. Instead, the French striker faltered, failing to take advantage of key opportunities and struggling to establish himself against an energetic Liverpool side. Mbappe's frustration was evident all night, and his struggles culminated at the final whistle. After losing possession for the fifteenth time, a sequence...
Ferrari’s unique position protects it from potential tariff problems in the automotive sector
News

Ferrari’s unique position protects it from potential tariff problems in the automotive sector

As President-elect Donald Trump renews his calls for high tariffs on imports from China, Canada and Mexico, the global auto industry braces for potential supply chain disruptions and rising costs. However, Ferrari, the iconic Italian luxury automaker, appears uniquely positioned to weather the storm, even as other manufacturers face growing challenges. Trump's proposed measures include a 10% tariff on all goods entering the United States from China and a 25% tariff on imports from Canada and Mexico, triggering concerns across industries that rely heavily on global trade. While European automakers have yet to be directly targeted, analysts suggest it may only be a matter of time before the spotlight falls on the European Union's auto sector. Despite the growing uncertainty, Ferrar...
Mexican President Sheinbaum calls for cooperation as he prepares response to Trump’s proposed tariffs
World

Mexican President Sheinbaum calls for cooperation as he prepares response to Trump’s proposed tariffs

Mexican President Claudia Sheinbaum has expressed willingness to engage in dialogue with US President-elect Donald Trump, but has made it clear that any unilateral trade measures imposed by his administration will be met with reciprocal action by Mexico. In a letter he plans to send to Trump, Sheinbaum stressed the need for cooperation and mutual understanding, cautioning against addressing complex issues such as migration and drug trafficking through threats or punitive tariffs. “It is not through threats or unilateral measures that we can address immigration or the problem of drug use in the United States,” Sheinbaum said in his letter. However, he added that if the Trump administration imposed tariffs on Mexican goods, his government would respond in kind, targeting areas that would im...
Databricks raises billions in funding, delays IPO amid AI boom
Business

Databricks raises billions in funding, delays IPO amid AI boom

Databricks, one of the world's most valuable private technology companies, is raising billions of dollars in new funding as it chooses to delay its long-awaited public offering, sources familiar with the matter told CNBC. The San Francisco-based company is reportedly securing at least $5 billion in its latest funding round, with the potential to raise as much as $8 billion as discussions progress. This new round would push Databricks' valuation to $55 billion, making it one of the most valuable private technology companies globally. The funding round, according to insiders, is partly designed to allow employees to sell shares, easing internal pressure for a liquidity event such as an IPO. By providing a mechanism for employees to cash out, Databricks reduces the urgency of going ...