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Billionaire Elon Musk, tasked with slashing government costs by President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector.

The comment on the Consumer Financial Protection Bureau (CFPB) followsMusk’srecent appointmentto a government efficiency role, further amplifying the influence of the world’s richest man, who donated millions of dollars to help Trump get elected.

“Delete CFPB. There are too many duplicative regulatory agencies,” Musk said in a post on social media platform X.

The CFPB did not immediately respond to a request for comment.

Musk and former Republican presidential candidate Vivek Ramaswamy will co-lead a newly created Department of Government Efficiency, an entity Trump indicated will operate outside the confines of government.

The CFPB was created as part of the 2010 Dodd-Frank financial reform law to police and regulate consumer financial products following the 2008 crisis and only Congress has the power to eliminate it.

Separately, Reuters reported on Wednesday, citing sources, that the consumer finance watchdog is moving ahead with rulemaking in the final weeks of Joe Biden’s Democratic administration, in a bid to advance consumer protections before Trump overhauls the agency.

Republicans have sought to curtail or eliminate the agency from the outset, but legislative efforts to either scrap it altogether, or place stricter limits on its funding and leadership structure, have failed to gain traction in the years since its creation.

Banking industry executives and lawyers also anticipate the incoming Trump administration will likely place significant limits on the CFPB.

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England star Jess Carter targeted by racist abuse during Euros

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England star Jess Carter targeted by racist abuse during Euros

England star Jess Carter says she has been the victim of racist abuse online during the UEFA Women’s Euros in Switzerland.

The Lionesses defender, who has 49 England caps, said she will be “taking a step back from social media and leaving it to a team to deal with”.

In an Instagram post, the 27-year-old player said: “From the start of the tournament, I have experienced a lot of racial abuse. Whilst I feel every fan is entitled to their opinion on performance and result, I don’t agree or think it’s ok to target someone’s appearance or race.”

Jess Carter. Pic: PA
Image:
Jess Carter. Pic: PA

Carter said she was stepping back from social media to “protect myself in a bid to keep my focus on helping the team anyway I can”.

She added: “Hopefully speaking out will make the people writing this abuse think twice so that others won’t have to deal with it.”

Carter also said that England have made some “historic changes with the Lionesses squad” that she was “so proud” of, and she hopes that by speaking out about racial abuse “it will make another positive change for all”.

‘Abhorrent abuse’

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The Football Association leadership has condemned the “abhorrent abuse” against Carter and has contacted UK police about it.

FA chief executive Mark Bullingham said in a statement: “Our priority is Jess and giving her all the support she needs. We strongly condemn those responsible for this disgusting racism.

“As soon as we were made aware of the racist abuse Jess received, we immediately contacted UK police. They are in touch with the relevant social media platform, and we are working with police to ensure those responsible for this hate crime are brought to justice.”

England's Jess Carter during a training session in Switzerland. Pic: PA
Image:
Carter during a training session in Switzerland. Pic: PA

The Lionesses said in a statement: “We stand with Jess and all Lionesses players past and present who have suffered racism.

“No one should have to endure such vile abuse, be that in football or any walk of life.”

They added: “Those behind this online poison must be held accountable.”

Anger and sadness

England teammate Lucy Bronze said there was “anger” and “sadness” among the squad following the abuse.

Bronze said: “I think we all know that any player of colour that’s played for England has probably gone through racist abuse. That’s a sad fact.”

She told Sky News’ sports correspondent Rob Harris that social media platforms need to be held more accountable.

Bronze added: “People need to be held accountable for their actions, whether it’s in-person or online. The abuse is not okay. Racism is not okay.”

Read more from Sky News:
Lionesses ‘very optimistic’ Williamson will be fit for semi-final
Team went from sloppy to celebratory in nerve-shredding quarters

The prime minister said on X that there was “no place for racism in football or anywhere in society”.

Sir Keir Starmer added: “I stand with Jess, the Lionesses, and any players who have suffered racism, on and off the pitch.”

Carter has started all four of England’s games at the tournament.

The defending champions face Italy on Tuesday night in Geneva in the Euros semi-finals. If they win and reach the final, they will play either Germany or Spain, who face each other on Wednesday.

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The Lionesses also said that until now, they have chosen to take the knee before matches.

“It is clear we and football need to find another way to tackle racism,” they said.

England won’t be taking the knee before semi-final

The Lionesses said they have agreed as a squad to remain standing before kick-off in the match against Italy.

“We hope the game can come together to see what more can be done.”

Kneeling, a symbolic anti-racism gesture, came to prominence in 2016 when NFL player Colin Kaepernick knelt in protest during the United States national anthem and became more widespread during the Black Lives Matter movement.

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UK

Social media firms have gone backwards in tackling online hate, says Kick It Out chairman

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Social media firms have gone backwards in tackling online hate, says Kick It Out chairman

As head of football’s anti-racism body, there was dread for Sanjay Bhandari watching England’s Women’s Euros quarter-final with Sweden.

But that’s, grimly, how it always is. Concerned that black players will be singled out for blame. Not with a legitimate critique of their performances, but with toxicity and racism.

And now Kick It Out is working with the Football Association to support Jess Carter after the England defender spoke out over the abuse she has been targeted with throughout the Women’s European Championship.

The players want social media firms to do more, but Mr Bhandari, the Kick It Out chairman, is concerned by their limited approach to the scourge of online hate.

Jess Carter. Pic: PA
Image:
Jess Carter says she has been the target of racist abuse. Pic: PA

“The social media companies need to do far more,” he told Sky News. “They’ve actually gone backwards over the last four or five years, not forwards. It’s got worse on social media, not better.

“And they need to provide us with the tools to help keep us safe and to remove some of this toxicity from the platforms. They’re just not doing enough.

“I would say that X is the worst. It has become no-holds-barred.

“And with Instagram, it is much more in the direct messaging, and I think there needs to be much more done there to protect people from those messages.”

Meta, which owns Instagram, did not reply to a request for comment.

There was no response from an email sent to X’s press email address.

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‘People need to be held accountable’ after Euros racism

LinkedIn indicated that X’s UK managing director Jonathan Lewis’s account had seen a request for comment, but there was no response.

On Friday, Mr Lewis and Premier League club Burnley were celebrating a new partnership in an announcement that made no mention of the abuse that many players across the world face on X.

The hope is that the Online Safety Act will lead to social media firms implementing the safety tools required of them.

Mr Bhandari said: “They have to be enforced by law enforcement against individual perpetrators, and also the regulatory parts need to be forced against the social media companies to force them to do the things that they need to do.”

Grimly familiar situation

The FA reported the abuse suffered by Carter to police, and the hope is for speedy action because this is a grimly familiar situation.

After the men’s Euros final in 2021, Marcus Rashford, Jadon Sancho and Bukayo Saka were racially abused after missing penalties in the shootout defeat to Italy.

Bukayo Saka. Pic: Reuters
Image:
Bukayo Saka was among the England players targeted after missing penalties in the Euros final. Pic: Reuters

While players have been taking a knee against racism in men’s and women’s games, the Lionesses feel that is no longer enough at these Euros.

They will stand instead before the semi-final with Italy because they say a new approach is needed to tackle racism.

Read more from Sky News:
Lionesses ‘very optimistic’ Williamson will be fit for semi-final
Team went from sloppy to celebratory in nerve-shredding quarters

Carter didn’t just face racism around the quarter-final that England won on penalties after fighting back from 2-0 down against Sweden here in Zurich.

She has been subjected to abuse throughout the Euros.

“I’m really feeling for Jess and what’s sad is that this is shocking, but not surprising,” Mr Bhandari said.

“I watch every England game, at every tournament, with the fear that after the match, there’s going to be abuse of a black player using the spurious basis of performance as an excuse to justify unjustifiable racism. All racism is unjustifiable.

“The fact that someone’s had a good or bad game in your opinion does not justify that kind of racist abuse.”

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Environment

These cars are losing value fast — that’s GREAT news for used EV buyers!

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These cars are losing value fast — that's GREAT news for used EV buyers!

New car buyers like to talk about the latest tech and resale value, but most people don’t buy new cars. The used car market is 3x bigger than new, and if you’re content to let the last guy take that big depreciation hit by scoring a great deal on a reliable, low-mile used car you could save thousands on your next EV.

I know what you’re thinking: these posts are always weird because they’re disproportionally impacted by the COVID-era supply chain disruptions, and the obscene dealer mark-ups that came along with them.

But looking into the data shows trends that are much closer to the kind of think you’d expect to see before COVID, with high-end luxury models like S-Class Mercedes that trade on being new and shiny taking massive depreciation hits and more mainstream offerings from brands like Toyota and Honda that trade on economy and reliability holding strong.

That usual luxury brand hit seems like it’s being compounded over at Tesla, where Elon Musk’s highly publicized political leanings have polarized support for the brand, and alienated a huge portion of the market. Demand for new and used Tesla vehicles has plummeted, and iSeeCars reports that the Tesla Model S suffered the biggest percentage price drop of all makes and models over the last twelve months, showing the pioneering electric sedan’s average price in June 2025 at $46,700, nearly 16%, or $8,800 lower than it was 12 just months earlier.

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This isn’t a post about Tesla, though (not intentionally, at least). Instead, it’s about those EVs that have lost the most value since they were first sold new five-ish years ago. So, if you’re looking for a great deal on a pre-loved EV, you could do a lot worse than the list, below, presented in order from biggest “loss” of value.

Top 10 fastest-depreciating EVs


Tesla Model S X Lunar Grey

  Make & Model MSRP Avg. 5 yrs >Difference % Change
1 Audi Q8 e-tron $74,400 $20,958 -$53,442 -71.9%
2 Jaguar I-Pace $72,000 $20,047 -$51,953 -72.2%
3 Tesla Model S $74,990 $27,835 -$47,155 -62.9%
4 Nissan Leaf (SV Plus) $36,190 $13,000 -$23,190 -64.1%
5 Tesla Model X $79,990 $32,940 -$47,050 -58.8%
6 Mercedes EQS $104,400 $41,121 -$63,279 -60.6%
7 Tesla Model Y $44,990 $23,775 -$21,215 -47.2%
8 Hyundai Kona Electric $32,675 $13,860 -$18,815 -57.6%
9 Tesla Model 3 $38,990 $20,950 -$18,040 -46.3%
10 Porsche Taycan $99,400 $48,445 -$50,955 -51.3%
11 Ford Mustang Mach-E $39,995 $21,600 -$18,395 -46.0%

Disclaimer: the models and pricing shown, above, were sourced from CarsDirect, Carscoops, iSeeCars, USNews, and Yahoo!Finance. These deals may not be available in every market, and the standard “with approved credit” fine print should be considered implied. Check with your local dealer(s) for more information.


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