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Auto industry rocked by Trump's 25% tariffs on US imports
US automakers and their global rivals were rocked on Wednesday by President Donald Trump's announcement that he would impose 25% tariffs on all vehicles and foreign-made autoparts imported into the United States. General Motors shares slumped 8% in after-market trading. Shares in Ford and US-traded shares of Chrysler-parent Stellantis fell about 4.5 percent each. In Asia, shares in Toyota Motor, Honda Motor and Hyundai Motor all fell around 3 percent. Shares in Tesla, which makes all the cars so
March 27, 2025 -
Trump threatens 200% wine tariff if EU does not remove whiskey tariff
US President Donald Trump said on Thursday that he would put a 200 percent wine tariff on all wines and other alcoholic products coming out of the European Union if the bloc did not remove its tariff on whiskey. The European Commission said on Wednesday that it will impose counter tariffs on 26 billion euros ($28 billion) worth of US goods from next month, ramping up a global trade war in response to blanket US tariffs on steel and aluminum. The EU executive said, however, that it remained open
March 13, 2025 -
Apple says to invest $500b in US over four years, hire 20,000 staff
Apple said Monday it will spend more than $500 billion in the United States over the next four years and hire 20,000 staff, an announcement likely to please President Donald Trump who has pushed US companies to shift manufacturing home. "Apple today announced its largest-ever spend commitment, with plans to spend and invest more than $500 billion in the US over the next four years," the Silicon Valley-based tech giant said in a statement. Apple's CEO Tim Cook said: "We are bullish on the future
Feb. 24, 2025 -
Xi to chair symposium attended by Jack Ma and other Chinese business leaders, sources say
Chinese President Xi Jinping plans to chair a symposium to boost private sector sentiment next week that will be attended by the country's business leaders including Alibaba co-founder Jack Ma, three people with knowledge of the meeting said. Xi rarely chairs symposiums about the private sector and the event underscores the numerous challenges facing China Inc, from escalating tensions with the United States under President Donald Trump to sputtering growth for the domestic economy. Many of the
Feb. 14, 2025 -
Apple’s flagging AI hopes get revival from DeepSeek’s emergence
Concerns over Apple Inc.’s first-quarter results have met with 11th-hour optimism that it could eventually benefit from the same force that recently wreaked havoc on the tech sector. The emergence of Chinese artificial intelligence startup DeepSeek is seen as a positive for Apple as cheaper AI models could contribute to a long-anticipated — and so far unrealized — iPhone upgrade cycle and re-acceleration in growth. The outlook for AI and iPhones will be in focus with results due after market clo
Jan. 30, 2025 -
Tesla books $600 million boost from Bitcoin after accounting change
Tesla Inc.’s holdings of Bitcoin gave its latest quarterly results a boost, courtesy of new accounting rules for digital assets. Its net income got a $600 million mark-to-market benefit from the digital tokens due to the adoption of the accounting approach, Chief Financial Officer Vaibhav Taneja said on Tesla’s earnings call on Wednesday. The electric vehicle maker’s fourth-quarter adjusted earnings were 73 cents a share, missing analysts’ average estimates of 75 cents. But investors took heart
Jan. 30, 2025 -
Don't let AI 'rip off' artists, Beatles star McCartney warns UK government
Beatles musician Paul McCartney has warned that artificial intelligence could be used to "rip off" artists, urging the British government to make sure upcoming copyright reforms protect its creative industries. Globally the music and film industries are grappling with the legal and ethical implications of AI models that can produce their own output after being trained on popular works, without necessarily paying the creators of the original content. Britain in December proposed a way for artists
Jan. 26, 2025 -
Bitcoin tops $106,000, hopes grow for strategic reserve
Bitcoin hit a record high above $106,000 on Monday after President-elect Donald Trump suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Bitcoin, the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 2.6 percent at $103,917 at 12:15 GMT (9:15 p.m. in Korea). Smaller crypto ether was up 0.4 percent at $3,918. "We're in blue sky territory here," said Ton
Dec. 16, 2024 -
SoftBank CEO to announce $100b investment in US during visit to Trump
SoftBank Group CEO Masayoshi Son will announce a $100 billion investment in the United States over the next four years during a Monday visit to US President-elect Donald Trump's residence, Mar-a-Lago, CNBC reported. Son will also promise in a joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, with the money to be deployed before the end of Trump's term, CNBC said, citing sources. The funding could come from various source
Dec. 16, 2024 -
Bitcoin surges to new record as Trump's election turbocharges cryptocurrencies
Bitcoin soared to a record high above $82,000 on Monday on expectations that cryptocurrencies will boom in a favorable regulatory environment following the election of Donald Trump as U.S. president and of pro-crypto candidates to Congress. The world's biggest and best-known cryptocurrency , has now more than doubled from the year's low of $38,505 and was last at $81,991, having earlier touched a record high of $82,413. Trump embraced digital assets during his campaign, promising to
Nov. 11, 2024 -
Bitcoin hits $80,000 for the first time
Bitcoin soared to a new record high on Sunday, as the cryptocurrency continues to rise following Donald Trump's presidential election win. The digital currency passed $80,000 for the first time shortly after 12:00 pm (1200 GMT). It reached $75,000 on Wednesday, topping its previous all-time peak of $73,797.98 achieved in March. (AFP)
Nov. 10, 2024 -
OpenAI's ChatGPT faces massive outage with thousands of users impacted
Microsoft-backed OpenAI said on Friday night it is facing an issue that has resulted in its popular chatbot ChatGPT being unavailable. The company said in a statement on its website that it was investigating the issue and working to restore functionality as soon as possible. Over 19,403 users had been impacted by the outage as of 7:13 p.m. ET, according to outage tracking website Downdetector.com. OpenAI did not immediately respond to a request for comment. (Reuters)
Nov. 9, 2024