Noted economist Arthur Laffer warns in a new analysis that President Donald Trump’s 25% tariffs on auto imports could add $4,711 to the cost of a vehicle, adding that the proposed taxes could weaken the ability of U.S. automakers to compete with their foreign counterparts. In the 21-page analysis obtained by The Associated Press, Laffer, […]
Lululemon beat Wall Street expectations for fiscal fourth-quarter earnings and revenue, but issued 2025 guidance that disappointed analysts. On an Thursday earnings call, CEO Calvin McDonald said the athleticwear company conducted a survey earlier this month that found that consumers are spending less due to economic and inflation concerns, resulting in lower U.S. traffic at Lululemon and […]
Dollar Tree said Wednesday that it’s gaining market share with higher-income consumers and could raise prices on some products to offset President Donald Trump’s tariffs. The discount retailer’s CEO, Michael Creedon, said the company is seeing “value-seeking behavior across all income groups.” While Dollar Tree has always relied on lower-income shoppers and gets about 50% of its business […]
Robinhood is getting closer to becoming a full-fledged financial service. On Wednesday, the company announced a wholly online banking platform that will offer checking and savings accounts to Robinhood Gold subscribers when it launches this fall. The platform, called Robinhood Banking, will let users access their accounts, as well as send and receive money through […]
Copper (HG=F) prices climbed closer to all-time high levels on Tuesday as indications of more measured Trump administration tariffs extended the industrial metal’s rally this year. Futures on the London Metal Exchange gained after topping $10,000 per metric ton in the prior session, while contracts on New York’s Comex increased to hover near a record. […]
Video game retailer GameStop announced Tuesday its board has unanimously approved a plan to buy bitcoin with its corporate cash, echoing a move made famous by MicroStrategy. The meme stock jumped more than 6% in extended trading Tuesday following the news. The announcement confirmed CNBC’s reporting in February of GameStop’s intention to add bitcoin and […]
Massachusetts regulators are investigating Robinhood over launching a prediction markets hub, a way of letting users bet on March Madness college basketball games on its platform. Secretary of the Commonwealth of Massachusetts Bill Galvin sent a subpoena to Robinhood on March 20 over the company’s decision to launch its prediction markets hub, a spokesperson for […]
South Korea-based Hyundai and President Donald Trump announced a $20 billion investment in US on-shoring on Monday, which includes a $5 billion steel plant in Louisiana, at the White House Monday. The $5.8 billion Louisiana facility will be the car manufacturers’ first steel manufacturing facility in the US and will produce more than 2.7 million […]
The chief executive of the National Grid has confirmed power was available to keep Heathrow open during Friday’s shutdown. In an interview with the Financial Times, John Pettigrew said the fire that knocked out a substation was a “unique event”, but that two other substations remained operational and capable of powering the airport in west […]
Segway is recalling about 220,000 of its scooters sold across the U.S. due to a fall hazard that has resulted in user injuries ranging from bruises to broken bones. According to a notice published by the U.S. Consumer Product Safety Commission, the folding mechanism in Segway’s Ninebot Max G30P and Max G30LP KickScooters can fail […]
March 21 (Reuters) – The U.S. Securities and Exchange Commission’s crypto task force held its first public meeting with experts on Friday, focusing on how securities laws might apply to digital assets as the Trump administration looks to overhaul cryptocurrency regulations. Among the participants of the roundtable were John Reed Stark, former chief of the […]
Buy Now, Pay Later services are typically used on large purchases, like furniture. But now one service is branching out into fast food. DoorDash is partnering with Klarna, a financial company that lets customers schedule small payments over a set period of time, in a new partnership announced Thursday. When the option launches “soon,” DoorDash […]
