French Economy Unexpectedly Accelerates in 2Q
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Yahoo
36 minutes ago
- Yahoo
Lutnick says tariffs set in place Aug 1: ‘No extensions. No more grace periods.'
Commerce Secretary Howard Lutnick said on Sunday that President Trump would not grant any further extensions to countries wishing to negotiate trade deals ahead of the Aug. 1 deadline. 'No extensions, no more grace periods. Aug. 1, the tariffs are set,' Lutnick said in an interview on 'Fox News Sunday.' 'They'll go into place, customs will start collecting the money, and off we go,' Lutnick continued. Lutnick added, however, that the president would be open to continuing to negotiate even once the tariffs are in place. 'Obviously after Aug. 1, people can still talk to President Trump,' Lutnick said. 'I mean, he's always willing to listen.' The president will also continue to talk to other countries before the Aug. 1 deadline, Lutnick added. 'Whether they can make him happy is another question,' Lutnick said. 'But the president's definitely willing to negotiate and talk to the big economies for sure.' The interview came shortly before Trump announced a trade deal with the European Union, setting tariffs at 15 percent for European goods, including automobiles. The EU agreed to purchase $750 billion worth of energy from the U.S. as part of the deal, Trump announced on Sunday, and to invest in the U.S. $600 billion more than the current investments for other goods. The agreement is lower than the 30 percent tariff Trump had threatened to impose on the EU, which was set to take effect on Aug. 1, and avoids a trade war with the U.S.'s largest trading partner. Trump earlier this month posted letters to social media sent to more than a dozen countries vowing to impose steep tariffs on their imports starting Aug. 1. An initial round of tariffs unveiled in April was paused for 90 days to allow time for negotiations, and the president then pushed the deadline for the tariffs to take effect back by another few weeks — to Aug. 1. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
an hour ago
- Yahoo
Tim Cook reportedly tells employees Apple ‘must' win in AI
Apple CEO Tim Cook held an hourlong all-hands meeting in which he told employees that the company needs to win in AI, according to Bloomberg's Mark Gurman. The meeting came after an earnings call in which Cook told investors and analysts that Apple would 'significantly' increase its AI investments. It seems he had a similar message for Apple employees, reportedly telling them, 'Apple must do this. Apple will do this. This is sort of ours to grab.' Despite launching a variety of AI-powered features in the past year under the Apple Intelligence umbrella, the company's promised upgrades to its voice assistant Siri have been significantly delayed. And Cook seemed to acknowledge that the company has fallen behind its competitors. 'We've rarely been first,' he reportedly said. 'There was a PC before the Mac; there was a smartphone before the iPhone; there were many tablets before the iPad; there was an MP3 player before iPod.' But in his telling, that didn't stop Apple from inventing the 'modern' versions of those products. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Lina Khan points to Figma IPO as vindication of M&A scrutiny
A surprising figure is celebrating Figma's successful IPO: Lina Khan, former chair of the Federal Trade Commission. In a Friday afternoon post on X, Khan linked to an article about Figma's impressive first day of trading and argued the IPO is 'a great reminder that letting startups grow into independently successful businesses, rather than be bought up by existing giants, can generate enormous value.' Khan was alluding to a $20 billion deal for Adobe to acquire Figma that fell through back in 2023. While Adobe cited the lack of a 'clear path' to approval from the European Commission and the U.K. Competition and Markets Authority, the acquisition also faced regulatory scrutiny in the United States over concerns that it could prevent Figma from being an 'effective competitor' to Adobe. Khan was FTC chair at the time, leading the agency to challenge Big Tech on fronts including startup acquisitions — to the point that companies tried to avoid this scrutiny with 'reverse acqui-hires' in which they hired key team members and licensed technology rather than acquiring startups outright. (The practice seems to be continuing despite Khan's departure from the FTC.) While her aggressive stance led to intense criticism from corners of the tech industry, she defended her approach by saying that only a tiny percentage of deals received 'a second look' and arguing that founders would ultimately benefit from 'a world in which you have six or seven or eight potential suitors' rather than 'just one or two.' And although Khan — who'd been appointed by President Joe Biden — resigned at the start of the second Trump administration, her comments Friday paint the Figma IPO as a vindication for her approach, calling the IPO 'a win for employees, investors, innovation, and the public.' Of course, Khan's critics are more likely to see Figma's success as coming despite regulatory scrutiny, not because of it. For example, Wedbush Security analyst Dan Ives told Business Insider, 'Figma is a massive success, but it's because of the company's innovative growth and not due to the FTC and Kahn.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
