President Donald Trump called Elon Musk's plans to form a new political party "ridiculous," launching new barbs at the tech billionaire.

Washington

U.S. President Donald Trump has publicly criticized Elon Musk's announcement to launch a new political party, the 'America Party,' calling the move 'ridiculous' and reaffirming support for the traditional two-party system. This development marks an escalation in tensions between Trump and Musk, which began after Musk opposed a key tax and spending bill championed by Trump.

The dispute has had wider repercussions, with investment firm Azoria Partners postponing the launch of a Tesla ETF over concerns about Musk's political ambitions conflicting with his role as Tesla CEO. Azoria's CEO has called for Tesla's board to seek clarification from Musk regarding his political intentions.

Trump criticizes Musk's new 'America Party' as feud grows

U.S. President Donald Trump had a biting response Sunday to billionaire Elon Musk's move to start a new U.S. political party. I think it's ridiculous to start a third party. We have a tremendous success with the Republican Party. The Democrats have lost their way, but it's always been a two-party system. So he can have fun with it, but I think it's ridiculous. It's the latest in the widening rift between the world's most powerful man and its richest that began last month. When Musk started attacking the item at the top of Trump's legislative agenda, a sweeping tax cut and spending bill, that bill was signed into law on Independence Day. Musk spent millions of dollars underwriting Trump's 2024 re-election effort, and had spearheaded the downsizing agency Doge, but stepped back in May. Around that time, he said Trump's bill would bankrupt the country, and called it a disgusting Critics say the bill will significantly add to the U.S. debt load and damage the U.S. economy. As their feud escalated, the president threatened to pool billions of dollars that Tesla and SpaceX receive in government contracts and subsidies. There were signs in mid-June Musk was trying to repair his relationship with Trump. Musk posted on X that he had gone too far. But last week, Musk began criticizing Trump's bill again, and vowed that in next year's midterms, he would unseat lawmakers who supported it. Then on Saturday, he said he would establish the America Party. A day later, Trump posted that he was saddened to watch Musk go completely off the rails and be a train wreck the past five weeks. Meanwhile, investment firm Azoria Partners said on Saturday it will postpone the listing of Tesla ETF, which was set to launch this week. It raised concerns Musk creating a political party posed a conflict with his full-time responsibilities as Tesla CEO. Azoria CEO James Fishback also reiterated his own support for Trump on social media, and encouraged the Tesla board to meet immediately to ask Elon to quote, clarify his political ambitions.

Rescuers are searching for more than 40 people still missing, after flooding in the US state of Texas. The death toll has risen to at least 82, including 28 children - many of them from a summer camp. President Donald Trump has declared the area a disaster zone.

Hunt

Death toll from Texas floods rises to 82, dozens still missing

BRICS leaders set to discuss key global political issues, but questions over the bloc’s cohesion arose as Chinese President Xi Jinping and Russian President Vladimir Putin opted to skip the summit.

State of Rio de Janeiro

Global Tariffs

BRICS group slams tariffs, Iran conflict at summit in Brazil

Israeli Prime Minister Benjamin Netanyahu will visit President Trump at the White House as Gaza ceasefire talks resume in Qatar. Elizabeth Palmer reports.

Middle East Conflict

Trump gets set to host Netanyahu amid Gaza ceasefire talks

The search for missing children from a girls' summer camp hit by flash floods in Texas entered a third day on Sunday, as rescuers faced the threat of more flooding and the death toll in the region reached at least 67.

Texas officials face questions over flood warnings

Search and rescue missions continue in Kerr County, Texas, after severe storms caused deadly flooding that has killed dozens of people. More than 20 children from the nearby Camp Mystic are still missing, officials say.

Texas campground owner describes flash floods: "It was just chaos"

Tesla and SpaceX CEO Elon Musk says he has formed a new political party after falling out with U.S. President Donald Trump over the "One Big Beautiful Bill."

Elon Musk launches 'American Party'

Israel has sent a delegation to Qatar for new indirect talks on a possible hostage and ceasefire deal despite Israeli Prime Minister Benjamin Netanyahu saying the changes requested by Hamas to a previous proposal were "unacceptable."

Doha

Israel, Hamas delegations resume truce talks over Gaza in Doha

Iran’s Supreme Leader Ayatollah Ali Khamenei received an enthusiastic welcome at a mosque in Tehran as he made his first public appearance since the start of the 12-day war between Israel and Iran.

Tehran

Iran's Supreme Leader makes first public appearance since war started

Search-and-rescue operations are expected to continue as the death toll continues to rise from Friday's flash flooding in central Texas, with authorities confirming at least 50 deaths so far, 15 of those children. Among the missing are girls from a Christian summer camp.

Death toll rises as search for Texas flood survivors continues

Rescuers are searching for survivors of a flash flood that hit central Texas on Friday, leaving at least 43 people dead, including 15 children. Authorities in Texas are now facing questions about whether they issued proper warnings in advance of rain-fuelled flooding.

Death toll from Texas flooding rises to 43

Experts link the rising frequency and intensity of heatwaves in Europe to climate change, warning that such extreme weather events are becoming increasingly common.

Athens

Firefighters across Europe battle wildfires

Rallies on the streets of Tel Aviv were held as the Israeli security cabinet reportedly gathered to discuss Hamas' response to a potential ceasefire-hostage deal.

Tel Aviv-Yafo

Tel Aviv rally calls for the release of the remaining hostages

Ukrainian President Volodymyr Zelenskiy said on Saturday (July 5) that his latest conversation with U.S. President Donald Trump this week was the best and "most productive" he has had to date.

Kyiv

Ukraine Invasion

Zelenskyy says latest Trump call the 'most productive' yet

The unemployment rate for new college graduates has recently surged. Economists say businesses are now replacing entry-level jobs with artificial intelligence. Ali Bauman has the story.

Cambridge

Unemployment surges as employers replace new hires with AI

Israeli Prime Minister Benjamin Netanyahu said he is sending a delegation to Qatar on Sunday for talks on a possible ceasefire deal. Hamas calls the latest response "positive." Meanwhile, Israeli strikes on Saturday killed at least 14 in Gaza.

Renewed momentum for Israel-Hamas ceasefire in Gaza

The deadline is fast approaching for countries to make new tariff agreements with the U.S. or face a higher rate. The Trump administration is putting them on notice.

Trump turns attention to trade after major legislative win

The funeral proceedings of the late football players Diogo Jota and his brother Andre Silva took place in the church of Gondomar in their hometown in the east of Porto. Family members, teammates and coaches joined thousands of mourners to pay their final respects.

Gondomar

Thousands gather to bid farewell to Liverpool's Diogo Jota

McMahon's most recent projects included Netflix's whodunit "The Residence" and the Nicolas Cage drama "The Surfer," which premiered earlier in the year at SXSW.

Melbourne

Australian-American actor Julian McMahon dies, 56

Diplomatic efforts are ongoing as U.S President Donald Trump looks to secure a ceasefire deal between Israel and Hamas. Israel has previously accepted the US proposal, meanwile Hamas has "submitted a positive response" to the mediators.

Israeli hostage negotiation team to fly to Doha to hold talks with Hamas

A forestry worker injured in a wildfire in the western Turkish province of Izmir has died from his injuries, raising the death toll in recent days from the fires to three, as emergency crews also continued to battle a blaze in a province bordering Syria.

Hatay

Turkiye’s wildfires declared national emergency

Search and rescue operations continued overnight after flash floods slammed central Texas, killing dozens, officials said. More than 20 children are still missing from Camp Mystic, an all-girls camp hit by the floods, the Kerr County sheriff said.

Kerrville

Rescues continue in central Texas after deadly flash floods

Officials in the U.S. state of Texas say at least 13 people have died in overnight flash floods after torrential rains triggered an overflow of the Guadalupe River. Nearly 20 children attending a summer camp in the south-central area are missing.

Kerr County

Deadly Texas floods: Search efforts underway for missing children

Türkiye has been battling wildfires for more than a week, with its western province of Izmir among the hardest hit. Thousands have been forced to flee as flames threaten homes and villages.

Ödemiş

Turkiye wildfires: At least two dead as fires burn for eighth day

It was not clear if Hamas’ statement meant it had accepted the proposal from US President Donald Trump for a 60-day ceasefire.

Jerusalem

Hamas says it is  'positive' about latest ceasefire proposal

President Trump brought pomp and circumstance to his signing of the "big, beautiful bill" on Friday, with an Independence Day ceremony at the White House that included a B-2 bomber flyover.

Trump signs "big, beautiful bill" as tariff deadline looms

Heavy rainfall in central Texas caused the Guadalupe River to overflow and unleash a torrent of water. The bodies of at least 13 children and adults have been recovered and more than 20 girls are missing from a sleepaway camp.

Floods kill at least 13 in Texas, over 20 missing from summer camp

The talk comes a day after President Donald Trump and Russian President Vladimir Putin discussed Ukraine, Iran and other issues in a call the Kremlin described as "frank and constructive."

Zelenskyy, Trump agree on joint defense efforts in phone call

Russia pummeled Kyiv with the largest drone attack of the war, injuring at least 23 people and damaging buildings across the capital only hours after U.S. President Donald Trump spoke with Russia's Vladimir Putin, officials said.

Russia hits Kyiv with largest drone attack after Trump-Putin call

U.S. President Donald Trump marked the passage of the new spending bill, which includes changes to food assistance, student loan programs, and clean energy credits. Robert Costa joins "CBS Mornings" to break down what's in the legislation.