JPMorgan's favorite stocks heading into May
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
White House Confirms 19 Percent Shoe Tariff Rate With Indonesia: Are China, EU, Cambodia Next?
The White House and the Republic of Indonesia on Tuesday said in a joint statement that they have a framework for negotiating a reciprocal trade agreement. The statement confirms what U.S. President Donald Trump said on July 15 on his Truth Social platform that an agreement was in place providing for a 19 percent tariff on imports to the U.S., with America having full access to Indonesia and that exports to the Southeast Asian nation would not be taxed. More from WWD CEO TALKS: Tim Little of Grenson on the Power of Retail, Potential Investors and Keeping a Heritage Footwear Brand Alive U.S. Reaches Trade Truce With EU, May Extend China Tariff Pause The Nomasei Loafers Loved by Bella Hadid, Nicole Kidman, and Blake Lively Are Finally Back in Stock The White House statement also noted that the two countries 'are committed to strengthening economic and national security cooperation to enhance supply chain resilience,' as well as complementary actions to address unfair trade practices of other countries and combat duty evasion. While there are likely a number of still unanswered questions, for now shoe manufacturers at least can breathe a bit better. The original threatened reciprocal tariff levy for Indonesia was 32 percent. Other trade deals disclosed this week were with Philippines at 19 percent, down from a proposed 20 percent, and Japan at 15 percent, down from a proposed 25 percent. On the footwear front, one country still said to be in talks with the U.S. is India. Trump said earlier this month that the countries are 'close to a deal,' but so far no announcement has been made. The shoe-producing country so far also hasn't received a tariff letter. India is facing a 26 percent reciprocal tariff rate. The trade deals announced so far all follow a similar pattern. They are based on a framework for continued talks to finalize deal terms. They also lower the tariff duties for the countries importing to the U.S., while agreeing for 'open' access for American exports at a zero duty rate. With the exception of Vietnam, they also provide for a transshipping levy. In the case of Vietnam, which has a 20 percent tariff rate, there is also an imposed 40 percent tariff on transshipped goods. This rate is specific to Vietnam, but also likely because Chinese manufacturers are known to have circumvented China tariffs by shipping first to Vietnam before heading to its final U.S. destination. Vietnam, which accounts for 25 percent of footwear production globally, has become the go-to place for athletic performance shoes. The initial reciprocal rate proposed by Trump was 46 percent. Trump disclosed his global reciprocal tariffs on April 2. Since then, there's been pauses on the tariff hikes to allow for negotiations for new trade deals between the U.S. and other countries. With the Aug. 1 deadline fast approaching, and Trump noting that no more extensions would apply, one can expect a possibly flurry of forthcoming 'trade deal' disclosures featuring the same 'framework' trend as those already announced. Trump said Tuesday that 'Europe' is expected shortly, along with others 'coming in.' There's been rumblings that there could be a deal with the European Union (EU) at a 15 percent tariff rate, although the EU also is said to be preparing for reciprocal 30 percent duties should a framework agreement not be reached by the Aug. 1 deadline. Spain, Italy, Portugal and Germany are among the EU countries that manufacture shoes. In addition to manufacturing, premium leathers and textiles used for footwear are also sourced from EU countries. China, which is the largest global suppler of footwear, remains the other question mark for shoe producers. The reciprocal rate started at 34 percent but then escalated to as high as 145 percent for certain goods. That was followed by a 90-day pause through Aug. 12 that included a temporary 30 percent rate. The two countries agreed to a rare earth minerals trade deal in June, and that was supposed to set the stage for a deescalation of U.S.-China tensions as well as pave the way for further talks on a trade deal. But hard feelings may have resurfaced when Trump imposed the 40 percent transshipment levy on Vietnam, which targets trade between China and Vietnam. China is both Vietnam's largest trading partner and its largest supplier of production inputs. Trump earlier this month issued a tariff letter to Cambodia, a growing shoe manufacturing destination, that threatened a 36 percent duty rate — down from the previous 49 percent threat — if the parameters for a trade deal aren't negotiated by Aug. 1. The two countries have had at least three rounds of talks, but so far there's been nothing more definitive regarding any agreed upon framework for a trade deal. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Yahoo
an hour ago
- Yahoo
Euro under pressure as US-EU trade deal fails to impress
By Rae Wee SINGAPORE (Reuters) -The euro struggled to recoup its steep losses on Tuesday as investors sobered up to the fact that terms of the trade deal between the U.S. and the European Union favoured the former and hardly lifted the economic outlook of the bloc. France, on Monday, called the framework trade agreement a "dark day" for Europe, saying the bloc had caved in to U.S. President Donald Trump with an unbalanced deal that slapped a headline 15% tariff on EU goods. German Chancellor Friedrich Merz said his economy would suffer "significant" damage due to the agreed tariffs. The euro slid 1.3% in the previous session, its sharpest one-day percentage fall in over two months, on worries about growth and as euro-area government bond yields fell. The common currency last traded 0.07% higher at $1.1594. "It hasn't taken long for markets to conclude that this relatively good news is still, in absolute terms, bad news as far as the near term implications for euro zone growth are concerned," said Ray Attrill, head of FX research at National Australia Bank. "The deal has been roundly condemned by France while others - including German Chancellor Merz, are playing up the negative consequences for exporters, and with that, economic growth." The slide in the euro in turn boosted the dollar, which jumped 1% against a basket of currencies overnight. The dollar held on to gains on Tuesday and knocked sterling to a two-month low of $1.3349. The yen edged marginally higher to 148.49 per dollar. The dollar index steadied at 98.67. "While the U.S. dollar's strength... may reflect the perception that the new U.S.-EU deal is lopsided in favour of the U.S., the U.S. dollar's strength may also reflect a feeling that the U.S. is re-engaging with the EU and with its major allies," said Thierry Wizman, global FX and rates strategist at Macquarie Group. Still, Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he set in April. Elsewhere, the Australian dollar eased 0.05% to $0.6518, while the New Zealand dollar was little changed at $0.5972. The offshore yuan was little changed at 7.1813 per dollar. Top U.S. and Chinese economic officials met in Stockholm on Monday for more than five hours of talks aimed at resolving long-standing economic disputes at the centre of a trade war between the world's top two economies, seeking to extend a truce by three months. Apart from trade negotiations, focus this week is also on rate decisions from the Federal Reserve and the Bank of Japan (BOJ). Both central banks are expected to stand pat on rates, but traders will watch subsequent comments to gauge the timing of their next moves.
Yahoo
an hour ago
- Yahoo
Verisign Announces Pricing of Secondary Offering of Common Stock by Selling Stockholders
RESTON, Va., July 29, 2025--(BUSINESS WIRE)--VeriSign, Inc. (NASDAQ: VRSN) (the "Company"), a global provider of critical internet infrastructure and domain name registry services, today announced the pricing of the previously announced underwritten secondary offering (the "Offering") by affiliates of Berkshire Hathaway Inc. ("Berkshire Hathaway"), of 4,300,000 shares of the Company's common stock, par value $0.001 per share ("Common Stock") at a price to the public of $285.00 per share. The selling stockholders will receive all of the proceeds from the Offering. The Company is not selling any shares of Common Stock in the Offering and will not receive any proceeds from the Offering. The Offering is expected to close on July 30, 2025, subject to the satisfaction of customary closing conditions. The Offering is sized in order to reduce Berkshire Hathaway's beneficial ownership of the Company below the ten percent threshold that triggers additional regulatory obligations. Affiliates of Berkshire Hathaway have been stockholders of the Company since 2012, and Berkshire Hathaway has voluntarily agreed with J.P. Morgan Securities LLC (the "Underwriter") that the remaining shares of Common Stock beneficially owned by Berkshire Hathaway and its affiliates following the Offering will be subject to a 365-day lock-up agreement. The Underwriter is acting as the sole underwriter of the Offering. The selling stockholders also expect to grant the Underwriter a 30-day option to purchase up to an additional 515,032 shares of Common Stock. The Offering is being made by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an automatic shelf registration statement on Form S-3 (File No. 333-288995), which was filed with the Securities and Exchange Commission (the "SEC") and became effective on July 28, 2025. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement once available, may be obtained for free on the SEC's website at or by contacting: J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@ and postsalemanualrequests@ This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Verisign Verisign (NASDAQ: VRSN), a global provider of critical internet infrastructure and domain name registry services, enables internet navigation for many of the world's most recognized domain names. Verisign helps enable the security, stability, and resiliency of the Domain Name System and the internet by providing root zone maintainer services, operating two of the 13 global internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains, which support the majority of global e-commerce. Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve risks and uncertainties that could cause our actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the closing of the Offering on the terms described, or at all. More information about potential factors that could affect our business and financial results is included in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended Dec. 31, 2024, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Verisign undertakes no obligation to update any of the forward-looking statements after the date of this announcement. ©2025 VeriSign, Inc. All rights reserved. VERISIGN, the VERISIGN logo, and other trademarks, service marks, and designs are registered or unregistered trademarks of VeriSign, Inc. and its subsidiaries in the United States and in foreign countries. All other trademarks are property of their respective owners. View source version on Contacts Investor Relations: David Atchley, datchley@ 703-948-3447Media Relations: David McGuire, davmcguire@ 703-948-3800
