President Donald Trump blasted Walmart on Saturday after the country's largest retailer warned this week that it will have to raise prices because of tariffs. "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain," Trump wrote on Truth Social. "Between Walmart and China they should, as is said, "EAT THE TARIFFS," and not charge valued customers ANYTHING. "I'll be watching, and so will your customers!!!" Walmart CFO John David Rainey said in an interview with CNBC on Thursday that, "We have not seen price increases at this magnitude, in the speed in which they're coming at us before, and so it makes for a challenging environment." Rainey said he is "pleased with the progress that's been made by the [Trump] administration on tariffs from the levels that were announced in early April, but they're still too high." Goods from dozens of other countries face a 10% duty. He said that the retailer wants to keep its prices lower than competitors, especially at a time when shoppers are seeking discounts. To do that, he said Walmart will absorb some of the tariff-related higher costs and he expects suppliers to absorb some higher costs, too. Rainey said the company will "try to work with suppliers to keep prices as low as we can." "We have always worked to keep our prices as low as possible and we won't stop," Walmart said in a statement. Walmart joined a growing number of companies that have increased prices or warned that higher prices are coming due to tariffs. Microsoft said earlier this month that it has increased the recommended retail prices of Xbox video game consoles and some controllers. Barbie maker Mattel announced earlier this month it is moving production out of China, but still expected to have price increases its toys. And Ford warned last week it would have to raise prices on some cars. Major U.S. retailers, including Target, Home Depot and Lowe's, are expected to share their own outlooks on the impact of tariffs when they report results next week. Shares of Walmart ended 2% higher on Friday at $98.24. WATCH: Pro: CNBC's full interview with Walmart CFO John David Rainey Sign up for free newsletters and get more CNBC delivered to your inbox
The past few years have seen "Abbott Elementary" star and creator Quinta Brunton take home multiple Emmys, a Golden Globe and even a Peabody award. But the 35-year-old comedy star isn't surprised by her success. "I was a very determined, knew-where-I-was-going girl," she continued. "I don't like to do that thing where people pretend 'I had no idea this could happen to me.' I made every single move in my life so that this could happen to me." She explained that she is "a big believer" in having a vision for your life that you can work toward. "I think 2014 me didn't exactly know [all of this would happen], but I think that's the beauty of vision," she said. Indeed, Brunson's approach is in line with that of successful executives and businesspeople. Tara Swart, a neuroscientist and executive coach, told CNBC Make It in 2019 that using tools such as vision boards can help rewire your brain to help you achieve your goals. Laying out a vision for yourself, she said, can prime your brain to seize on opportunities that you might otherwise not have noticed. Swart explained using a board to help visualize what your life will look like if your goals are achieved can help you make better decisions and be more willing to take action towards making your dreams a reality. "The process reduces the [physiological] fear response to any new situation or person, making you more likely to take healthy risks, collaborate and embrace opportunity," Swart said. For Brunson's part, while she couldn't have controlled all the circumstances that led to "Abbott Elementary" becoming a smash hit, she doesn't attribute any of the success to luck. "But I do think you have to think about so many different factors to make your show a success at all now." Want a new career that's higher-paying, more flexible or fulfilling? Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. Learn more about the world of CNBC Make It
Keke Palmer has worn many hats over her career so far: actress, entrepreneur, producer, podcast host, singer, author. I think it's incredibly important," says Palmer. My car note is going to be $340. As a child, Palmer realized that she earned more than her parents. By age 13, she had her own credit card and was the star of Nickelodeon's "True Jackson, VP," she says. "My parents, at their best, made $40,000 a year," Palmer told the "Club Shay Shay" podcast in a November episode. Palmer now tries to follow their example, she says. "I learned from my parents very early on because they knew their limitations with money and finances," says Palmer. DON'T MISS: How to change careers and be happier at work My mom gave up everything so she could travel with me," Palmer said. I would sacrifice 20 more years of my life working in this industry so that I can provide and we can have the business we have today." Living below your means looks different for everyone. If you can't afford to save 20% of your earnings, start by finding a way to boost your income and minimize your large, fixed expenses, certified financial planner Rachel Camp recommended. That could look like picking up a side hustle, taking on roommates or even rethinking whether you need a car in the city you live in. That might mean reading personal finance books, taking a course at a local community college, talking to your money-savvy friend or even using ChatGPT to help you create a monthly budget plan. "Be curious about that kind of stuff, because you don't want to do things based off of survival," says Palmer. "You want to do them out of choice. Want a new career that's higher-paying, more flexible or fulfilling? Expert instructors will teach you strategies to network successfully, revamp your resume and confidently transition into your dream career. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. Get Make It newsletters delivered to your inbox Learn more about the world of CNBC Make It
President Donald Trump and Elon Musk, the world's richest man, want to make living on Mars a reality. Meanwhile, NASA officials have said that sending humans to Mars even by 2040 would be an "audacious" goal. China also has ambitions, with the country planning to establish an autonomous Mars research station by 2038. For scientists, Mars offers possible answers to questions such as the prevalence and diversity of life in the universe. "The early Earth and Mars were twins. They were both rocky planets with liquid water, CO2 dominated atmospheres," says Robert Zubrin, president of The Mars Society, a nonprofit. "So if the theory is correct that life originates naturally from chemistry, wherever the right physical and chemical conditions, then it should have appeared on Mars." But landing humans on Mars and settling the planet will mean overcoming a number of daunting technical challenges and risks that humans have never before faced. You know, the radiation environment is very severe. The reliability has to be super high," said Amit Kshatriya, deputy associate administrator of the Moon to Mars Program at NASA, during a panel discussion in February. "The propulsion capability is not – you know, we got to get better in all those areas." At the core of Musk's plan to reach Mars is the tallest and most powerful rocket ever built: Starship. In March, SpaceX conducted Starship's eighth test flight. While SpaceX was able to successfully retrieve the Super Heavy booster, the Starship spacecraft exploded, leaving a trail of debris in its wake and disrupting commercial flights. SpaceX's next test flight for Starship is expected soon. CNBC visited the Mars Desert Research Station in Utah to get a behind-the-scenes look at what life on Mars could be like, and spoke to experts about what challenges remain to landing humans on the red planet. Watch the video to find out more. Sign up for free newsletters and get more CNBC delivered to your inbox
Hallucinations, bad math and cultural biases have plagued results, reminding users that there's a limit to how much we can rely on AI, at least for now. Elon Musk's Grok chatbot, created by his startup xAI, showed this week that there's a deeper reason for concern: The AI can be easily manipulated by humans. Grok on Wednesday began responding to user queries with false claims of "white genocide" in South Africa. After remaining silent on the matter for well over 24 hours, xAI said late Thursday that Grok's strange behavior was caused by an "unauthorized modification" to the chat app's so-called system prompts, which help inform the way it behaves and interacts with users. In other words, humans were dictating the AI's response. Musk, who owns xAI in addition to his CEO roles at Tesla and SpaceX, has been promoting the false claim that violence against some South African farmers constitutes "white genocide," a sentiment that President Donald Trump has also expressed. "I think it is incredibly important because of the content and who leads this company, and the ways in which it suggests or sheds light on kind of the power that these tools have to shape people's thinking and understanding of the world," said Deirdre Mulligan, a professor at the University of California at Berkeley and an expert in AI governance. She said there's no reason to see Grok's malfunction as merely an "exception." AI-powered chatbots created by Meta, Google and OpenAI aren't "packaging up" information in a neutral way, but are instead passing data through a "set of filters and values that are built into the system," Mulligan said. Grok's breakdown offers a window into how easily any of these systems can be altered to meet an individual or group's agenda. Representatives from xAI, Google and OpenAI didn't respond to requests for comment. Grok's unsanctioned alteration, xAI said in its statement, violated "internal policies and core values." The company said it would take steps to prevent similar disasters and would publish the app's system prompts in order to "strengthen your trust in Grok as a truth-seeking AI." It's not the first AI blunder to go viral online. A decade ago, Google's Photo app mislabeled African Americans as gorillas. Last year, Google temporarily paused its Gemini AI image generation feature after admitting it was offering "inaccuracies" in historical pictures. And OpenAI's DALL-E image generator was accused by some users of showing signs of bias in 2022, leading the company to announce that it was implementing a new technique so images "accurately reflect the diversity of the world's population." The survey in September of that year included 258 respondents. Critics have said that DeepSeek censors topics deemed sensitive to the Chinese government. Like China with DeepSeek, Musk appears to be influencing results based on his political views, they say. When xAI debuted Grok in November 2023, Musk said it was meant to have "a bit of wit," "a rebellious streak" and to answer the "spicy questions" that competitors might dodge. In February, xAI blamed an engineer for changes that suppressed Grok responses to user questions about misinformation, keeping Musk and Trump's names out of replies. But Grok's recent obsession with "white genocide" in South Africa is more extreme. Petar Tsankov, CEO of AI model auditing firm LatticeFlow AI, said Grok's blowup is more surprising than what we saw with DeepSeek because one would "kind of expect that there would be some kind of manipulation from China." Tsankov, whose company is based in Switzerland, said the industry needs more transparency so users can better understand how companies build and train their models and how that influences behavior. He noted efforts by the EU to require more tech companies to provide transparency as part of broader regulations in the region. Olivia Gambelin, AI ethicist and author of the book Responsible AI, published last year, said that while this type of activity from Grok may not be surprising, it underscores a fundamental flaw in AI models. — CNBC's Lora Kolodny and Salvador Rodriguez contributed to this report WATCH: Elon Musk's xAI chatbot Grok brings up South African 'white genocide' claims. Sign up for free newsletters and get more CNBC delivered to your inbox
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 No industry has been safe from the looming threat of higher tariffs — from retailers, airlines and travel companies, to industrial manufacturers, medical device firms and chocolate makers. Photographer: Spencer Platt/Getty Images One thing is clear as the first-quarter earnings season draws to a close: The uncertain outlook for the global economy is superseding better-than-feared results even as stocks rally on signs of easing trade tensions. Corporations across the US, Europe and China are pulling their forecasts for the year or providing grim outlooks, citing rising costs, weak consumer sentiment and a lack of business confidence as a result of President Donald Trump's worldwide trade offensive.
Tariff chaos may have subsided, but markets could be in for another bout of policy-fueled volatility in the coming months if bond investors throw a tantrum over the tax bill. President Donald Trump's "Big, Beautiful Bill"—the 389-page tax bill that aims to extend Trump's 2017 tax cuts—could add around $4 trillion to the US deficit over the next decade, according to a projection from the Tax Foundation, a non-partisan think tank. While the bill stalled on Friday amid opposition from within the Republican party, it is likely that a tax bill will get done this year. Yields are down this week as rate cut bets get repriced amid cooler inflation data. But that could change quickly as the tax bill gets closer to becoming law. A 5% yield is a key psychological threshold for the market and has sparked big sell-offs in stocks in recent years when that level has been reached. "I think they're watching with great interest how that's unfolding," Yardeni said of the bond market, speculating another Liberation Day-type sell-off could occur in government bonds if Republicans try to push the tax bill forward in its current form. He also pointed out that the US debt ceiling is set to increase around that time, which could fan more panic over government borrowing. Garvey told BI, speculating that an "unnerving" sell-off in bonds was possible. In that situation, demand for US government debt securities would be so weak that the Fed would need to step up and buy Treasurys to help keep the government funded. "I will say that the risk of such an outcome is uncomfortably high," Berezin told BI, though he acknowledged that it wasn't his base case. "Unless Trump is willing to cut these entitlement programs for defense spending or raise taxes, none of which I think he'd be willing to do easily. We could see this crisis play out in a fairly significant way where yields go up quite a bit before the Fed can step in," Berezin said. Trump later denied the sharp rise in yields was behind his decision to pause most tariffs for 90 days on April 9, but he had admitted to at least watching the bond market as it reacted violently to the trade war. Right now, bond investors are concerned about two big macro forces: Trump has said that a goal is to lower interest rates for Americans during his term, and he's keeping close watch on the 10-year Treasury yield as a scorecard. Bond yields have been on a roller coaster this year already, climbing when he first unveiled tariffs on Mexico and Canada, and then rocketing higher after his "Liberation Day" announcement. Yardeni says he believes it's likely Trump will blink on some items in his tax bill to avoid another confrontation with bond market vigilantes. The president wants lower rates and needs bond auctions to go smoothly, as spotty demand for US Treasurys could easily spike rates to levels that could cause a recession, he said. "The package that I see potentially getting passed is an attempt to make it not as dramatic as it could be," Garvey told BI on potential policy walk-backs.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Turkish company Çelebi Aviation said on Saturday it's “fully cooperating” with Indian authorities and adhering to regulations after its ground handling and cargo warehouse operations were suspended due to national security concerns. “We are closely monitoring the situation and cooperating fully with the relevant authorities,” Çelebi said in a statement. “We are following the process diligently and within the legal framework, in close cooperation with the relevant local authorities. To date, all our operations have been carried out in full compliance with regulations.”