Cheddar News

Cheddar is a financial news network that streams live, created by Jon Steinberg. It broadcasts every day from various locations, including the New York Stock Exchange, NASDAQ, the Flatiron Building, and even the White House lawn and briefing room in Washington, D.C. Cheddar focuses on reporting the latest in products, technologies, and services.

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Can Goldman say 'recession'?

6 days ago | cheddar.com | Peter Green

For the world's most successful bank, Goldman Sachs sure seems to be having trouble deciding where the economy is going. In a series of reports, as well as statements by CEO and part-time DJ David Solomon, the quintessential Wall Street bank has been calling a recession, then backing down, then calling it again. It's a delicate balancing act for Solomon, who has seen how the Trump Administration can focus unwanted scrutiny on law firms and universities. He wants to keep his company safe.
Are tariffs sending 'the wrong message'?

1 week ago | cheddar.com | Peter Green |Peter Gréen

Has President Donald Trump bitten off more than he can chew? Wilbur Ross, the secretary of Commerce during Trump's first term, certainly thinks so, as he explained in an exclusive interview with us on Wednesday, shortly before Trump announced a 90-day pause on his plan to impose punitive sanctions on America's trading partners. (This interview has been condensed and edited for clarity.)What do you make of this current situation?
First You Get Tariffs, Then You Get ... What?

2 weeks ago | cheddar.com | Peter Green |Peter Gréen

It wasn't a war plan. It wasn't a battle plan. It was simply a broadside unloaded on the source of American prosperity, the trading partners who buy our stuff and fund our deficits. If anyone still thought President Donald Trump was bluffing when he said he'd slap tariffs on all of America's imports, the cards are now on the table, and none of them are jokers.
23andMe and Everyone Else

3 weeks ago | cheddar.com | Peter Green |Peter Gréen

So you thought you could keep a secret? Well, now every secret encoded in your DNA is about to be sold to the highest bidder as the genetic testing company 23andMe goes into Chapter 11 bankruptcy protection. Now the millions of people who paid $99 to check their DNA, hoping to learn about their ancestry, lost siblings, or hereditary disease, are wondering who's now gonna know everything about them.
Is Tesla Just a Meme Stock Now?

1 month ago | cheddar.com | Peter Green |Peter Gréen

Is Elon Musk the Wizard of EV, or is he just the man behind the curtain? That's the question investors and investigators are increasingly asking, as they look at the financial state of Tesla. Since January, the company's diluted market cap has dropped from $1.7 trillion to $800 billion. And Tesla's price-to-earnings ratio, at 104, is more than 150% higher than the Nasdaq's average P/E at 40.
Trade War, Huh? What Is It Good For?

1 month ago | cheddar.com | Peter Green |Peter Gréen

Markets go up and markets go down, but usually the chief executive of the United States does everything in his power to move them in one direction: up. Not this time, though. President Donald Trump's tariff two-step and his efforts to use Tesla tool Elon Musk to slash the federal workforce are throwing the economy into a spin from which it may prove difficult to pull out.
Elon Musk claims X being targeted in 'massive cyberattack'

1 month ago | cheddar.com | Michelle Chapman

Hours after a series of outages Monday that left X unavailable to thousands of users, Elon Musk claimed that the social media platform was being targeted in a "massive cyberattack.""We get attacked every day, but this was done with a lot of resources," Musk claimed in a post. "Either a large, coordinated group and/or a country is involved.
Those On-Again, Off-Again Tariffs!

1 month ago | cheddar.com | Peter Green |Peter Gréen

They're on. They're off. They're on again, but not for everyone. Or not immediately. Or maybe they are! Donald Trump's tariffs, and his plans for more, are wreaking havoc on the economy before they are even a week old. Consumer electronics retailer Best Buy saw its stock plunge as much as 13% this week after CEO Corie Barry told analysts on Tuesday that the stores will have to pass on to customers some of the cost of tariffs, raising prices and consequently reducing sales.
Trump Grants One-Month Exemption for US Automakers from New Tariffs

1 month ago | cheddar.com | Josh Boak |Rob Gillies

WASHINGTON (AP) - President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing. The pause comes after Trump spoke with leaders of the "big 3" automakers, Ford, General Motors and Stellantis, on Wednesday, according to White House press secretary Karoline Leavitt.
Wall Street's losing streak deepens as Trump's tariffs kick in

1 month ago | cheddar.com | Damian J. Troise

NEW YORK (AP) - Stocks tumbled on Wall Street Tuesday as a trade war between the U.S. and its key trading partners escalated, wiping out all the gains for the S&P 500 since Election Day. The tariffs between the U.S., China, Canada, and Mexico helped extend a recent slump for U.S. stocks that was prompted by signs of weakness in the economy. The S&P 500 fell 1.7%, with every sector in the benchmark index losing ground.