Ticker
The day’s business news at a glance
French prosecutors summon Elon Musk
Elon Musk has been summoned to Paris as part of an investigation into alleged misconduct on the social media platform X. French authorities are looking into the spread of child sexual abuse material and deepfake content.
Musk and former X CEO Linda Yaccarino have been invited for voluntary interviews. It’s unclear if they will attend. The investigation is still ongoing after a search at X’s French premises in February. French prosecutors have alerted U.S. authorities, but the Justice Department reportedly declined to assist. Reporters Without Borders has also filed a complaint against X for allowing disinformation.
Businesses begin claiming tariff refunds
A refund system for businesses that paid tariffs which the U.S. Supreme Court eventually struck down has launched. U.S. Customs and Border Protection said importers and their brokers could begin claiming refunds online beginning at 8 a.m. on Monday.
It’s the first step in a complicated process that also might lead to refunds for consumers who were billed for tariffs on products shipped to them from outside the United States. Some users reported glitches with the new system. In a 6-3 decision, the Supreme Court ruled in late February that President Donald Trump usurped Congress’ taxation authority when he set double-digit import tax rates on products from almost every other country.
Two Southwest planes come close to colliding
Two Southwest Airlines planes had to take evasive action to avoid colliding Saturday in Nashville, Tennessee, after an air traffic controller directed one pilot to turn into the path of the other plane. Last year, an American Airlines jet collided with an Army Black Hawk helicopter near Washington, D.C., killing all 67 people aboard both aircraft.
Midair collisions are rare in commercial flights where the planes are equipped with systems to alert pilots about a potential collision. Most of the close calls that happen every year involve small planes that don’t have those systems, but the FAA couldn’t immediately provide a number for close calls. Both Southwest pilots told the tower that they received alarms from their collision avoidance systems.
Wildfire survivors could face blow from taxes
Thousands of survivors of the 2025 Eaton Fire in California are accepting settlements from the utility accused of causing it. They’re choosing faster payments over litigation to rebuild their lives. However, they now face the possibility of these payments being taxed as income, which could significantly reduce their funds and affect eligibility for government benefits.
This news is causing confusion and panic among survivors. A bipartisan House bill aims to extend tax relief for wildfire-related compensation, but its future is uncertain. Fire survivors in Colorado, Hawaii and Oregon face similar challenges, highlighting the need for legislative action.
Canada PM: US economic ties are a weakness
Canadian Prime Minister Mark Carney says Canada’s strong economic ties to the U.S. were once a strength but are now a weakness that must be corrected. Carney spoke in a video address released Sunday about his government’s efforts to strengthen the Canadian economy by attracting new investments and signing trade deals with other countries.
He said the world is more “dangerous and divided” and noted the U.S. has changed its approach to trade by raising tariffs to levels last seen in the Great Depression. Carney said tariffs imposed by U.S. President Donald Trump have impacted workers in such major industries as auto and steel and prompted businesses to hold back investments.

