Trump Media & Technology Group, the parent company of Truth Social, on Friday reported just $3.6 million in sales for all of 2024 and an operating loss of $186 million.
Why it matters: President Trump's election doesn't seem to be helping the financial fortunes of his namesake company, which generated more revenue in 2023 than in 2024.
OpenAI's board has unanimously rejected Elon Musk's $97.4 billion takeover offer, with chairman Bret Taylor calling it an "attempt to disrupt his competition."
Why it matters: This was expected, given that OpenAI CEO Sam Altman had previously said the company isn't for sale, but nonetheless was a sharp rebuke of the world's richest man.
The White House on Friday said it will bar the Associated Press from future events in the Oval Office and Air Force One over AP's refusal to obey President Trump's executive order renaming the Gulf of Mexico as the Gulf of America.
Why it matters: The decision will be met with fury from press advocates who have argued over the past week — during which the White House barred AP from three previous events — that penalizing the news organization for its editorial standards sets a dangerous precedent for press freedoms.
Morgan Stanley and other lenders to Elon Musk's Twitter takeover yesterday reportedlysold around $4.7 billion of X debt at face value.
Why it matters: This blows away expectations for the deal, in terms of both volume and pricing, and leaves creditors with only around $1.3 billion of their $12.5 billion outlay.
A small financial services company headquartered in Trump Tower has seen its stock rise more than 300% this week and more than 1,200% in 2025, after a recent investment by Donald Trump Jr. and Eric Trump.
Why it matters: It's a huge gain in a short time for a company that in the last five years pivoted from sciences to finance, and now has AI ambitions, all while losing tens of millions of dollars.
Retail sales fell 0.9% in January,the steepest drop in nearly two years, as consumers were held back by California wildfires, unusually frigid conditions, and uncertainty around the outlook for tariffs.
Why it matters: Consumer spending has been the bedrock of the economic expansion over the last few years, and a meaningful deterioration would put growth at risk.
The office is back: The share of people who reported working mostly in-person doubled in 2024 from the previous year, according to a survey from McKinsey released Friday morning.
Why it matters: With hiring slowing, and workers feeling stuck, employers are using their newly strengthened upper hand to finally get what they want: butts in seats.
Why it matters: Chocolate treats are expected to increase 10 to 20% for the holiday and throughout 2025, David Branch, sector manager at Wells Fargo Agri-Food Institute, tells Axios.
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