EU to Restrict China's Participation in Medical Devices Procurement
The European Union said it plans to exclude Chinese companies from the bloc's government purchases of medical devices after concluding that EU manufacturers don't have equal access in China, widening trade tensions between Brussels and Beijing.
The European Commission, the EU's executive arm, said Friday that the measure will apply to purchases exceeding 5 million euros ($5.7 million). The decision follows the conclusions of the first investigation under the International Procurement Instrument, or IPI.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
Nike stock price: Why shares are rising despite the shoe giant's revenue decline and serious tariff warning
Shares in Nike, Inc. (NYSE: NKE) are trading much higher this morning after the company announced its Q4 2025 results. Yet those results saw Nike post some of its worst earnings in a while, along with a warning that President Trump's tariffs would cost the company $1 billion in the near term. He was buried in a mushroom casket. Soon he'll be part of the soil CEO of an $11 billion builder empire warns that these housing markets face a short-term oversupply Lifting the veil on the critical—and oft-times overlooked—factors driving AI growth Here's what you need to know about Nike's latest earnings and why the stock is up. Yesterday, the iconic shoemaker announced its Q4 2025 and full-year fiscal 2025 earnings. The results weren't great. For fiscal 2025, Nike reported full-year revenues of $46.3 billion—a 10% decline from fiscal 2024. The company's Q4 2025 revenues totaled $11.1 billion—down 12% from the same quarter a year earlier. The company also posted an earnings per share of 14 cents for its Q4. That EPS was down significantly from the 99 cents the company posted in the same quarter a year earlier. However, perhaps most alarming was the fact that Nike confirmed it would take a $1 billion hit in its current 2026 fiscal year due to the tariffs imposed by President Trump on countries worldwide. The two countries where Nike makes a significant amount of its goods are China and Vietnam. Earlier this year, Trump placed a 46% tariff on goods manufactured in Vietnam and a triple-digit rate on goods made in China. He later reduced both rates, temporarily, to 10% and 30% respectively. Still, Nike chief financial officer Matt Friend said on Nike's earnings call that the tariffs currently in place will result in a 'new and meaningful' cost to Nike, notes CNBC, adding that the company estimates that 'a gross incremental cost increase to Nike of approximately $1 billion.' You would think that Nike's warning of up to $1 billion in tariff-related costs and its pretty dismal Q4 results would send the stock down, not up. But NKE stock is currently up, and significantly, as of the time of the writing. In premarket trading, NKE shares are currently up over 10% to $68.85. There are a few likely reasons for this. First is that, while Nike's Q4 wasn't anything to write home about, the company actually came in above most Wall Street estimates. Analysts had expected Nike to have a pretty poor quarter already, and indeed, as noted by CNBC, Nike had previously said its Q4 would be the low point of its turnaround. This turnaround involves Nike's pivot to return its focus to athletes and shift away from its recent history of trying to cater to the wider 'lifestyle' segment of the population. The turnaround was initiated after Nike brought in a new CEO, Elliott Hill, last October. For its Q4, analysts had been expecting revenue of $10.72 billion and an EPS of 13 cents. So though Nike's Q4 results were disappointing, especially compared to earlier quarters, its actual revenue of $11.1 billion and adjusted EPS of 14 cents came in above expectations—something investors typically reward. But another reason the stock is likely rising in premarket trading is also related to that $1 billion hit Nike is expecting. Though the company says it expects the 10-figure hit this financial year, CFO Matt Friend also said Nike expects to 'fully mitigate' Trump's tariff costs over time. Nike will mitigate these tariff costs by using a three-pronged approach: adjusting its supply chain sources getting its suppliers to absorb some of the costs raising prices on U.S consumers later this year Despite Nike's 10% price surge this morning, shares in the company are still down significantly for the year. As of yesterday's close, Nike shares were sitting at $62.54—down more than 17% for the year. However, that was still significantly above its April lows of nearly $52 per share after President Trump unleashed his 'Liberation Day' tariffs on the world. Over the past 12 months, Nike's shares were down more than 33% as of yesterday's close. This post originally appeared at to get the Fast Company newsletter: 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
Yahoo
31 minutes ago
- Yahoo
Beijing confirms that it has signed a trade agreement with the US
The US and China have now signed a trade agreement, said China's Ministry of Commerce on Friday, bringing the two economies further into alignment after the threat of a major trade war. A released statement said that China would continue to approve export permits of controlled items, and that the US would "cancel a series of restrictive measures taken against China accordingly". The statement comes after US President Donald Trump told reporters at the White House late on Thursday that the two nations had reached an agreement. 'We just signed with China yesterday,' he said, offering no further details. Initial talks in Geneva in early May led both China and the US to postpone massive tariff hikes that were threatening to freeze much of the trade between the two countries. Later talks in London set a framework for negotiations, and the deal mentioned by Trump appeared to formalise that agreement. China announced earlier this week that it was speeding up export approvals of rare earths, materials used in high-tech products such as electric vehicles. Beijing's limits on exports of rare earths have been a key point of contention. The Chinese Commerce Ministry said on Thursday that Beijing was accelerating a review of export license applications for rare earths and had approved "a certain number of compliant applications." Related Trump says US has reached a trade deal with China US Steel buyout gives Trump a new power: What about future presidents? Export controls of the minerals apparently eclipsed tariffs in the latest round of trade negotiations between Beijing and Washington after China imposed permitting requirements on seven rare earth elements in April, threatening to disrupt production of cars, robots, wind turbines and other high-tech products in the US and around the world. The agreement struck in May in Geneva called for both sides to scale back punitive tariff hikes imposed as Trump escalated his trade war and sharply raised import duties. Some higher tariffs, such as those imposed by Washington related to the trade in fentanyl, as well as duties on aluminium and steel, remain in place. The rapidly shifting policies are taking a toll on both of the world's two largest economies. The US economy contracted at a 0.5% annual pace from January through March, partly because imports surged as companies and households rushed to buy foreign goods before Trump could impose tariffs on them. In China, factory profits sank more than 9% from a year earlier in May, with automakers suffering a large share of that drop. They fell more than 1% year-on-year in January to May. Trump and other US officials have indicated they expect to reach trade deals with many other countries, including India. "We're going to have deal after deal after deal," Lutnick said.
Yahoo
31 minutes ago
- Yahoo
5 Insightful Analyst Questions From Crocs's Q1 Earnings Call
Crocs' first quarter results were well received by the market, with revenue coming in flat year over year but ahead of Wall Street expectations. Management credited strong international growth and effective cost control for the quarter's performance, despite macroeconomic uncertainty and mixed demand in North America. CEO Andrew Rees highlighted the resilience of the Crocs brand, citing double-digit international growth and notable traction in China and Western Europe. Meanwhile, HEYDUDE's direct-to-consumer channel rebounded, offsetting wholesale declines. The company's gross margin improvement was attributed to lower product costs and a favorable customer mix, while disciplined inventory management helped maintain profitability. Is now the time to buy CROX? Find out in our full research report (it's free). Revenue: $937.3 million vs analyst estimates of $909.1 million (flat year on year, 3.1% beat) Adjusted EPS: $3 vs analyst estimates of $2.49 (20.6% beat) Operating Margin: 23.8%, in line with the same quarter last year Constant Currency Revenue rose 1.4% year on year (6.9% in the same quarter last year) Market Capitalization: $5.61 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Anna Andreeva (Piper Sandler) asked about the sustainability of gross margin gains and the likelihood of price increases; CEO Andrew Rees explained margin strength was driven by vendor negotiations, supply chain investments, and favorable mix, and said pricing actions will be targeted and depend on tariff developments. Jonathan Komp (Baird) inquired about the decision to withhold short-term guidance and the company's ability to offset tariff exposure; Rees replied that ongoing volatility in trade policy made forecasting difficult, and mitigation would involve production shifts and cost controls. Peter McGoldrick (Stifel) questioned the planned level of marketing spend amid uncertainty and how HEYDUDE's refresh would balance core appeal with new growth; Rees said marketing investment would be maintained and the brand's repositioning focused on core products and new styles to attract younger consumers. Laura Champine (Loop Capital) sought clarity on potential cost increases from Southeast Asia and demand elasticity if prices rise; Rees responded that current suppliers are not raising costs, and the company would prioritize margin preservation over volume if price increases become necessary. Aubrey Tianello (BNP Paribas) asked about the timeline for shifting sourcing out of China; Rees indicated most transitions could occur within 6 to 12 months, with minimal product-specific constraints. In upcoming quarters, the StockStory team will be monitoring (1) Crocs' ability to mitigate tariff pressures through supply chain adjustments and cost controls, (2) the resilience of international growth, especially in China and Europe, and (3) the effectiveness of price increases or marketing investments in sustaining consumer demand. The balance between margin protection and volume, along with wholesale channel trends, will be critical to track. Crocs currently trades at $102, up from $100.98 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
