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Apple expects $900 mn tariff hit, US iPhone supply shifts to India
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and was disrupting its supply chain. Apple expects US tariffs to cost $900 million in the current quarter, even though their impact was "limited" at the start of this year, chief executive Tim Cook said on an earnings call.
EU preparing new sanctions on Russia, French minister tells AFP
French Foreign Minister Jean-Noel Barrot said Thursday that the European Union is preparing to hit Russia with a 17th round of sanctions, describing President Vladimir Putin as the "sole obstacle" to peace in Ukraine. Barrot took aim at Russia's president during the interview, saying: "It is now crystal clear that the only obstacle to peace today in Ukraine is Vladimir Putin."
US to end shipping loophole for Chinese goods Friday
The United States is set to end tariff exemptions on Friday for goods shipped from China worth less than $800, a move which could have significant ramifications on consumers' purchasing habits. The move announced last month means that goods shipped commercially will soon be subject to new tariffs of 145 percent -- the current level of levies imposed on goods coming from China.
With minerals deal, Ukraine finds way to secure Trump support
In signing a minerals deal, Ukraine has found a new way to tie the United States to its future, but it remains to be seen if it can guarantee long-term support from mercurial President Donald Trump. But he said that from an economic perspective it can only be read as "something positive, in terms of giving the United States a long-term stake in Ukraine."
Amazon revenue climbs 9%, but outlook sends shares lower
Amazon reported a nine percent rise in first-quarter revenue on Thursday, but its outlook fell below expectations, sending its share price lower. But this was lower than what analysts had expected.
US stocks boosted by gains in Microsoft, Meta
Wall Street stocks rallied Thursday after strong results from Microsoft and Facebook parent Meta offset lingering worries about an economic slowdown.
McDonald's profits hit by weakness in US market
Fast food giant McDonald's reported a drop in first-quarter profits Thursday as US traffic from low- and medium-income customers diminished amid economic anxiety in the wake of President Donald Trump's trade wars. Shares of McDonald's fell 1.3 percent in afternoon trading. jmb/aha
US-Ukraine minerals deal: what we know
Washington and Kyiv have signed a new minerals deal that will see the United States invest in Ukraine's rare earth and other deposits as it seeks to reduce military aid to the war-torn country. Kyiv says "rare earth metals are known to exist in six deposits" and an investment of $300 million would be needed to develop a deposit at Novopoltavske, which it claimed was one of the world's largest.
GM cuts 2025 outlook, projects up to $5 bn hit from tariffs
General Motors pledged Thursday to take additional steps to boost its US supply chain after projecting a $4-5 billion hit to the US auto giant's 2025 earnings from President Donald Trump's tariffs. GM postponed its earnings conference call until Thursday after Trump's tariffs move.
AFP
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