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Musk Returns To His Day Job [Read It And Eat 23-04-2025]



Not permitted Under the law. Those were Jerome Powell’s famous words in November of last year when asked if Trump can remove him as Fed chair, and in this complicated relationship between him and the presidency, that law will be tested. Elon Musk is finally to return to his day job as CEO of Tesla. Is Putin finally open to a ceasefire agreement? All this and a lot more in today’s Read It And Eat.


Major Headlines

  • Putin Reportedly Open to Freezing Ukraine Conflict Along Current Front Lines

  • Russian President Vladimir Putin has reportedly signaled a willingness to pause the war in Ukraine along the existing front lines, according to a new report by The Financial Times.

    Citing sources familiar with the matter, the report says Putin made the proposal during a recent meeting in Saint Petersburg with Steve Witkoff, a special envoy for former U.S. President Donald Trump. During the conversation, Putin is said to have indicated that Moscow might drop its claims to Ukrainian-held areas within four partially occupied regions—though he continues to claim full ownership over those territories, in addition to Crimea, which Russia annexed in 2014. Following that meeting, the report says the U.S. has floated potential settlement ideas, which could include recognition of Russia's control over Crimea and, at minimum, acknowledgment of Moscow’s de facto hold on parts of the other four regions.

    European officials briefed on the talks have reportedly raised concerns, warning that such proposals could be used by the Kremlin as leverage to extract further concessions—especially if they are presented as a starting point in negotiations with Trump. Responding to the Financial Times story, Kremlin spokesperson Dmitry Peskov dismissed the report, saying there is currently "a lot of fake news" circulating.Financial Times


  • Musk to Scale Back Government Role After Tesla Profit Slide

  • Elon Musk says he plans to reduce his involvement in Donald Trump’s administration following a steep drop in Tesla’s profits and revenue. The company reported a 20% fall in automotive revenue and a 70% plunge in profits for Q1 2025, missing market expectations.

    Musk has faced growing criticism for his political role, including his leadership of Trump’s Department of Government Efficiency (DOGE) and a $250 million donation to the president’s re-election campaign. Investors have voiced concerns that his political activities are distracting from Tesla’s performance.

    In response, Musk said he will cut back his time spent on DOGE to just one or two days per week, starting next month. While he defended the initiative as “critical,” he admitted the bulk of the work is now complete and said he would remain involved only if it continues to be helpful. Tesla also warned that political shifts and new tariffs—especially those affecting parts sourced from China—could weigh on both demand and supply chains in the months ahead. The company declined to offer a growth forecast, citing “changing political sentiment” as a growing risk.BBC


  • Trump Says He Won’t Fire Powell, Despite Fed Criticism

  • President Donald Trump said Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, easing investor concerns after a string of harsh criticisms over interest rate policy. "I have no intention of firing him," Trump told reporters, though he reiterated his desire for the Fed to cut rates more aggressively.

    Markets responded quickly to the shift in tone. U.S. equity futures jumped nearly 2% when trading resumed Tuesday evening, reversing losses from earlier in the week. Stocks, bonds, and the dollar had all taken a hit after Trump’s Easter weekend remarks, where he repeatedly blasted Powell for being too slow to lower rates.

    Analysts welcomed the apparent de-escalation. “Whether this was a reaction to Monday’s market turmoil or always part of the plan, it’s a clear positive,” said Krishna Guha of Evercore ISI. He noted the move reduces the risk of more extreme outcomes like stagflation or a broader debt crisis—though those risks haven’t fully disappeared.

    Trump also struck a more upbeat tone on trade, telling reporters he’s hopeful a deal with China could lead to significantly lower tariffs, though not eliminate them altogether. Still, his continued criticism of the Fed signals that pressure on Powell isn’t likely to go away anytime soon.Reuters


  • A Jury Clears New York Times in Sarah Palin Defamation Case

  • A federal jury in Manhattan has ruled that The New York Times is not liable for defaming Sarah Palin in a 2017 editorial about gun control, marking the second time the former Republican vice presidential candidate has lost this case at trial.

    The verdict follows a retrial, after an earlier 2022 decision in the Times’ favor was overturned by a federal appeals court. In response, a spokesperson for the Times said the ruling reinforces a key principle of American law—that publishers aren’t liable for honest mistakes. Palin's legal team has not yet commented.

    At the heart of the case was an editorial titled “America’s Lethal Politics”, which incorrectly linked Palin to a 2011 mass shooting in Arizona that left six people dead and seriously injured Congresswoman Gabby Giffords. The article referred to a map from Palin’s political action committee that placed crosshairs over several Democratic districts, including Giffords’.

    The Times issued a correction within 14 hours, but Palin’s lawyers argued the retraction didn’t go far enough, as it didn’t name her directly. The Times’ attorney, Felicia Ellsworth, emphasized the high legal bar for public figures in defamation suits and said there was no evidence the paper acted with malice. “This was an honest mistake,” she said.CNN


Minor Headlines 


Gen Z Word of the Day

-Sip Tea

Sip tea is an alternative to "spilling the tea," meaning you're sitting back and listening to the gossip rather than partaking in it.





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