Reported 4 months ago
Korean Air CEO Walter Cho warns of a potential revenue loss between $50 million to $100 million due to declining passenger volumes linked to ongoing tariffs and competition, particularly affecting trans-Pacific and European routes. Despite the challenges posed by the US-China trade war, Cho remains optimistic, planning to maintain American routes and continue significant fleet upgrades, including the introduction of Airbus A380 and Boeing 747 flights. He also notes the resilience of global travel demand and expresses his hope for a resolution to the trade tensions that could impact the airline's cargo operations.
Source: YAHOO
Reported 4 months ago
A federal judge has ruled that Apple must cease charging commissions on sales made outside its App Store and comply with a court order to allow third-party payment options, following violations of antitrust laws. The judge referred Apple for potential criminal contempt for not adhering to a previous ruling, which could lead to significant revenue losses. Apple disagrees with the ruling and plans to appeal, while Epic Games celebrates the decision as a win for developers.
Source: YAHOO
Reported 4 months ago
Alimentation Couche-Tard has entered into a non-disclosure agreement with Japan's Seven & i, granting the Canadian company access to essential financial data as it pursues a $47 billion acquisition. This agreement marks a significant step in the takeover discussions that have been ongoing since August, allowing Couche-Tard to potentially enhance its offer. Despite previous roadblocks regarding standard protections in the agreement and antitrust concerns, Seven & i is currently undergoing management changes and operational adjustments while exploring divestment options.
Source: YAHOO
Reported 4 months ago
The dollar has risen, recovering from weak U.S. data as investors noted easing tensions in the trade war, while the yen has fallen following the Bank of Japan's cuts to growth and inflation forecasts. The yen slipped about 0.5% to 143.73 per dollar, as the central bank held interest rates steady, suggesting reduced chances of hikes. Amid hints of potential trade deals from the U.S. with countries including China, the dollar's gains have caused declines in the euro and sterling, despite concerns over a slowdown in U.S. hiring.
Source: YAHOO
Reported 4 months ago
The US and Ukraine have successfully concluded a deal granting the US preferential access to Ukraine's natural resources, including aluminum and gas, following tense negotiations. This agreement aims to bolster support for Ukraine amidst ongoing conflict with Russia and signals the US commitment to Ukraine's security and reconstruction. Despite the absence of direct security guarantees, the deal is seen as a crucial step in maintaining US engagement and fostering global investments in Ukraine.
Source: YAHOO
Reported 4 months ago
In April, South Korea saw an unexpected 3.7% rise in exports, primarily driven by strong semiconductor demand, despite facing challenges from U.S. tariffs. This marked the highest percentage gain in four months, exceeding forecasts of a contraction. While the U.S. imposed tariffs on certain imports, including vehicles and chips, South Korea's trade performance suggests resilience, although analysts remain cautious about future trends due to ongoing trade tensions and negotiations.
Source: YAHOO
Reported 4 months ago
In a tightly contested vote, Donald Trump narrowly defeated a Senate resolution aimed at ending his contentious tariff policy, particularly tariffs on China. The Senate vote ended in a 49-49 tie, prompting Vice President JD Vance to cast the tie-breaking vote, allowing the tariffs to remain despite growing public concern over inflation and recession. A majority of Americans oppose Trump's tariffs, with many believing they have worsened economic conditions, further complicating the political landscape as the president continues to defend his trade strategy.
Source: YAHOO
Reported 4 months ago
C.H. Robinson recently reported strong first-quarter earnings, celebrating CEO Dave Bozeman's upcoming two-year anniversary. While revenue was down compared to the previous year, profitability improved, leading to a positive market response with share prices rising. The company credited their advanced use of AI in operations for improving efficiency and supporting growth, even amidst a challenging market environment.
Source: YAHOO
Reported 4 months ago
A recent survey reveals that confidence among UK business leaders has increased to its highest level since last September, buoyed by U.S. President Trump's temporary halt on tariffs. The Institute of Directors reported an improvement in executives' outlook, with a notable rise in investment and hiring intentions. While uncertainties from U.S. trade policies linger, the pause has eased some concerns over economic growth and inflation forecasts in the UK.
Source: YAHOO
Reported 4 months ago
The U.S. government, under President Trump's administration, has recently reached out to China to begin discussions regarding the significant tariffs imposed on Chinese goods, according to a report by a state-run media outlet. The post indicates that despite Trump's insistence on direct communication from President Xi Jinping, the U.S. appears to be more eager to negotiate amid growing pressures on its economy.
Source: YAHOO
Reported 4 months ago
Vineet Mehta, Tesla's head of battery architecture, has announced his departure, marking the second significant exit of a battery executive following Drew Baglino's departure last year. Having joined the company in 2007, Mehta played a key role in Tesla's battery innovations, especially as the company faces challenges in maintaining investor confidence amid falling sales and increasing competition.
Source: YAHOO
Reported 4 months ago
Shares in AI and cloud-computing companies surged after Meta and Microsoft's results exceeded Wall Street expectations. Notably, Microsoft's stock jumped over 6% due to strong earnings from its Azure cloud business, while Meta's shares rose over 4% as it also reported better-than-expected revenue. Companies like Nvidia and Amazon saw increases in their stock prices as well, reflecting strong investor confidence in the AI sector.
Source: YAHOO
Reported 4 months ago
In Donald Trump's first 100 days as president, his aggressive tariff policies have led to volatility in global markets, with most asset classes declining, except for gold, which has risen as investors seek safety. Despite a slight rebound due to hints of potential trade deals, strategists predict continued market instability driven by headlines from Washington, suggesting that the next few months may mirror the turbulent start of his presidency.
Source: YAHOO
Reported 4 months ago
Microsoft reported its third-quarter earnings, surpassing Wall Street expectations with earnings of $3.46 per share on $70 billion in revenue, buoyed by a 20% increase in cloud revenue to $42.4 billion. The company highlighted significant demand for its cloud services, while also addressing challenges in AI capacity and project adjustments amid ongoing tariff uncertainties.
Source: YAHOO
Reported 4 months ago
Meta reported Q1 earnings that exceeded expectations, with an EPS of $6.43 and revenue of $42.3 billion, while raising its full-year capital expenditure estimates. Despite worries about a slowdown in advertising due to tariff uncertainties, the company forecasts Q2 revenue between $42.5 billion and $45.5 billion, surpassing Wall Street's expectations. Meta's stock rose over 4% in after-hours trading, even as the company faces legal challenges regarding antitrust claims from the FTC.
Source: YAHOO
Reported 4 months ago
In a recent episode of Living Not So Fabulously, Brandon Aversano, CEO of Alloy, shares his journey from selling family gold during a financial crisis prompted by cancer diagnosis to establishing a user-friendly platform for precious metal trading. He discusses the inception of Alloy, his battle with cancer, and offers financial advice specifically for the LGBTQ+ community.
Source: YAHOO
Reported 4 months ago
The Chief People Officer of e.l.f. Beauty, Scott Milsten, emphasizes transparent communication to help employees cope with stress from tariffs impacting the company. With 80% of their products manufactured in China, rising tariffs have affected the value of employee equity. Instead of retreating, the company is encouraging employees to focus on long-term investment benefits and reminds them of their ownership in the company through an unusual compensation structure where all employees receive stock options.
Source: YAHOO
Reported 4 months ago
Brazilian motor manufacturer WEG announced a 16.4% year-on-year increase in its first-quarter net profit, reaching 1.54 billion reais ($274 million), but this fell short of market expectations of 1.78 billion reais. The company's shares dropped by over 10% as WEG highlighted global uncertainties impacting demand and warned of macroeconomic challenges. Despite the results being lower than anticipated, WEG expressed confidence in its diversified business model, focusing on long-term prospects amid geopolitical tensions.
Source: YAHOO
Reported 4 months ago
The Federal Reserve has indicated that it will keep short-term interest rates unchanged as it observes the ongoing inflation trends and labor market conditions. Despite traders betting on future rate cuts due to economic contraction and stagnant inflation, the Fed remains cautious of elevated inflation rates and potential economic slowdown caused by tariffs. The current data suggests a solid economic activity, but analysts warn of possible stagnation ahead if trade policies persist.
Source: YAHOO
Reported 4 months ago
In the latest market insights, Stellantis has temporarily suspended its 2025 guidance due to tariff uncertainties, while Seagate reported third-quarter results that surpassed expectations. Additionally, GE Healthcare has adjusted its annual profit forecast downward despite achieving a strong performance in the first quarter.
Source: YAHOO
Reported 4 months ago
The US dollar is poised for a potential rebound as the Trump administration seeks to negotiate trade deals and reduce tariffs for American automakers. Experts, including Mark McCormick from TD Securities and Christian Lawrence from Rabobank, discuss the short-term influences on the dollar amid economic uncertainties, emphasizing that the currency is not on the verge of collapse.
Source: YAHOO
Reported 4 months ago
Millions of Americans received increased Social Security payments due to the Social Security Fairness Act. However, financial experts warn against misusing these extra funds. Key pitfalls include using the money for high-interest debt consolidation, risky investments like cryptocurrencies, and ignoring tax implications which could lead to financial issues in the long run.
Source: YAHOO
Reported 4 months ago
墨西哥电信巨头America Movil的财务主管表示，预计公司2025年的资本支出将为67亿美元，低于2024年的71亿美元。该公司因经济放缓而进行此调整，同时还在关注总统克劳迪亚·谢因鲍姆提出的电信法案。虽然第一季度净利润上涨39%，但公司认定2025年的支出将会保守控制。
Source: YAHOO
Reported 4 months ago
H.C. Wainwright has started coverage of MicroStrategy (MSTR) with a buy rating and a price target of $480, citing the company's substantial Bitcoin holdings worth approximately $49 billion. The bank highlights MSTR's strategy of using its Bitcoin reserves to raise over $25 billion, enabling it to purchase more Bitcoin than shares issued, thus increasing its net asset value. MSTR's first-mover advantage in Bitcoin investment has also enhanced its reputation among investors, reflected in a 24% stock rise over the past month.
Source: YAHOO