But Mr. Trump’s warnings to his former ally are backed by several ways the White House could punish the world’s richest man.

There’s still a lot of distance in the Trump-Musk relationship.Haiyun Jiang for The New York Times

Just in: Warner Bros. Discovery said it plans to split itself into two publicly listed companies — one focusing on its streaming and studios business, the other on its cable channels — as it seeks to lift its embattled stock valuation.

We’re taking a look at the latest in the Musk-Trump saga, the inflamed tensions in Los Angeles and the trade negotiations with China taking place in London today. And we remember Dick Beattie, a prominent Wall Street lawyer behind many of the biggest deals of the last half-century.

The cold war continues

There’s still no sign of

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