While U.S. President Donald Trump’s tariffs play out in U.S. courts, another one of his proposed laws could weaponize the American tax system. Investment banks and law firms warn this step could prove to be as significant as the impact of duties on investors. The “One Big Beautiful Bill Act,” which passed through the U.S. House of Representatives last week, ...
E.l.f. Beauty announced on Wednesday plans to acquire Hailey Bieber’s beauty brand Rhode in a deal worth up to $1 billion as the cosmetics company looks to expand further into skincare. The acquisition — E.l.f.’s biggest ever, according to FactSet — is comprised of $800 million in cash and stock, plus an additional potential $200 million payout based on Rhode’s ...
Boeing’s airplane deliveries to China will resume next month after handovers were paused amid a trade war with the Trump administration, CEO Kelly Ortberg said Thursday, as he brushed off the impact of tit-for-tat tariffs with some of the United States’ largest trading partners this year. Ortberg had said last month that China had paused deliveries. “China has now indicated ...
Nvidia shares jumped on Thursday after posting a positive set of earnings, sparking a rally in global semiconductor stocks. Shares of Nvidia were 6% higher after the company posted better-than-expected earnings and revenue on Wednesday, even as it took a hit from U.S. semiconductor export restrictions to China. Nvidia has been seen by investors as a bellwether for the broader ...
Amazon’s devices unit has a new team tasked with inventing “breakthrough” consumer products that’s being led by a former Microsoft executive who helped create the Xbox. The ZeroOne team is spread across Seattle, San Francisco and Sunnyvale, California, and is focused on both hardware and software projects, according to job postings from the past month. The name is a nod ...
Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations, as the retailer’s CEO said it will hike prices of certain items to offset tariffs. In a news release, the department store operator said it reduced its earnings outlook because of higher tariffs, more promotions and “some moderation” in discretionary spending. Macy’s stuck ...
Dick’s Sporting Goods said Wednesday it’s standing by its full-year guidance, which includes the expected impact from all tariffs currently in effect. The sporting goods giant said it’s expecting earnings per share to be between $13.80 and $14.40 in fiscal 2025 — in line with the $14.29 that analysts had expected, according to LSEG. It’s projecting revenue to be between ...
Walmart agreed to pay a small fine and promised to ensure its third-party resellers are unable to sell realistic looking toy guns to buyers in New York, after state Attorney General Letitia James said Tuesday that the retail giant’s online store shipped them to the state. The settlement comes nearly a decade after Walmart, Amazon, Sears and other retailers entered ...
23andMe on Tuesday announced it will voluntarily delist from the Nasdaq and de-register with the U.S. Securities and Exchange Commission, according to a release. The move comes after Regeneron Pharmaceuticals said earlier this month that it will acquire “substantially all” of 23andMe’s assets for $256 million. The drugmaker came out on top following a bankruptcy auction for 23andMe, a once ...
The once-solid relationship between President Donald Trump and Apple CEO Tim Cook is breaking down over the idea of a U.S.-made iPhone. Last week, Trump said he “had a little problem with Tim Cook,” and on Friday, he threatened to slap a 25% tariff on iPhones in a social media post. Trump is upset with Apple’s plan to source the ...