Trump's tariffs, Walmart's DEI rollback, and Elon Musk's Nvidia chips: Business news roundup

Walmart (WMT) is joining a slew of other major corporations — including automakers Toyota Motor (TM) and Ford Motor Co. (F) — in rolling back its diversity, equity, and inclusion (DEI) initiatives after facing potential conservative boycotts.

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For many of America’s top business and finance leaders, backing Trump in his quest to return to the White House was a straightforward financial investment that in some cases is already paying off handsomely. It’s not unusual for presidents to hand out diplomatic posts to — and make policy to benefit — their supporters. What happens next could be at another level.

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President-elect Donald Trump appears to be making good on at least one of his campaign promises: slapping tariffs on imports from the United States’ biggest trade partners.

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Spirit Airlines has just given the world a peek into how bad things got at the end before it filed for bankruptcy.

After formally declaring that it would not be able to file its third-quarter earnings report on time, the company finally filed the document Monday. There are no surprises in it. As had been the case for every quarter for the last three years, Spirit presented a loss: $308 million against $1.2 billion in revenue.

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Jersey Mike’s has big plans. The beloved sandwich chain has secured an $8 billion investment from private equity giant Blackstone (BX), which has taken a majority stake.

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A listeria outbreak linked to ready-to-eat meat and poultry products has left one infant dead and least 11 people sick, federal regulators are reporting.

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Tesla (TSLA) CEO Elon Musk’s aggressive pursuit of artificial intelligence chips for his supercomputer has pushed Nvidia (NVDA) to its production limits.

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Alexandra Mousavizadeh, chief executive officer of Evident, breaks down how Jamie Dimon’s bank has become an AI trailblazer

The first television commercial aired on July 1, 1941, in New York City just before a Brooklyn Dodgers and Philadelphia Phillies baseball game on an NBC-owned (CMCSA) station. The minimalistic black-and-white ad promoting Bulova watches featured a simple branded illustration of a clock over a map of the United States. It was just under 10 seconds long and had a voiceover that said, “America runs on Bulova time.”

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