Elon Musk’s controversial gesture, which some interpreted as a Nazi-style salute, drew criticism from Trump’s political opponents and energized fans on the far right.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

BERLIN (Reuters) - U.S. billionaire Elon Musk called the chancellor of Germany "Oaf Schitz" on his social media platform X on Tuesday, responding to a video of the leader's comments on free speech at the World Economic Forum in Davos.

The billionaire and his Silicon Valley associates landed in the capital and immediately moved to cut the size of the federal government, reprising the playbook he used after buying Twitter in 2022.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

JPMorgan CEO Jamie Dimon said he and Elon Musk “hugged it out” and put aside nearly a decade of tense interactions thanks to a conversation the pair had at a conference last year.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland, Wednesday. "The guy is our Einstein," the JPMorgan chief said. "I'd like to be helpful to him and his companies as much as we can.

Chancellor of the Exchequer Rachel Reeves joked about Elon Musk’s online “trolling” of world leaders, in a break from the UK government’s careful efforts to avoid responding to frequent criticism from the close Trump ally.

Former Commerce Secretary Wilbur Ross said Elon Musk’s Department of Government Efficiency — the cost-slashing body known as DOGE — should train its sights on the World Bank after it was accused of losing track of $24 billion in climate funding.

During the World Economic Forum in Davos, Switzerland, the AI developer’s finance chief talked in detail about the company’s restructuring, Elon Musk’s legal actions and IPO best practices.

The chairman of the World Holocaust Remembrance Center has accused Elon Musk of insulting victims of Nazism after the billionaire told a German far-right political party that the country needed to “move beyond” the “guilt” of the past.