Orange Juice Importer Says Trump's Brazil Tariffs Will Raise US Prices
Johanna Foods Inc. is arguing that Trump's reasons for the levy increase — including support for Brazil's former right-wing President Jair Bolsonaro — don't present 'unusual and extraordinary' threats that give him emergency authority to circumvent Congress' taxing power.
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San Francisco Chronicle
20 minutes ago
- San Francisco Chronicle
Planned Parenthood closes 5 Northern California clinics, citing Trump budget bill
President Donald Trump's budget cuts to Medicaid have forced Planned Parenthood Mar Monte to shutter five clinics across Northern California and the Central Coast, including one in South San Francisco, the group said Thursday. The GOP-led federal spending bill that Trump signed into law earlier this month eliminated federal Medicaid funding for any type of medical care to organizations that perform abortions. Mar Monte is the largest Planned Parenthood affiliate in the country, with health care centers from Bakersfield, the Bay Area, Stockton and Sacramento. The now-shuttered facilities also include San Mateo, Santa Cruz, Gilroy and Madera. The closures represent the first wave of how the recent federal budget cuts will have real-life consequences for health clinics across the country — particularly for low-income Americans. They are also a crushing blow to a state that set it up to be an abortion haven after the U.S. Supreme Court overturned Roe v. Wade in 2022. In the year after the decision, political leaders in California — led by Gov. Gavin Newsom and the Democratic-controlled Legislature — passed more than a dozen new laws and invested more than $200 million to increase access across the state. Thursday's announcement drives home the extent of the federal government's tremendous power to impact abortion access. Roughly 80% of Mar Monte's patients received Medi-Cal, California's version of Medicaid. Ten million people are expected to lose their health insurance because of nearly $1 trillion in Medicaid cuts over the next decade in the One Big Beautiful Bill Act, according to the nonpartisan Congressional Budget Office. Meanwhile, the wealthiest Americans will receive a disproportionate share of the tax cuts funded by those cuts, according to the Center for Budget and Policy Priorities. In just one week since Mar Monte stopped billing Medicaid, the Planned Parenthood affiliate with 35 locations said it saw 5,000 patients — amounting to about $1.7 million in care costs it covered without reimbursement — Mar Monte Chief of Staff Andrew Adams told the Chronicle Thursday. 'It's just not sustainable,' said Adams. 'We can't keep our doors open if we continue doing that.' Mar Monte said the funding law also forced it to end services in family medicine, behavioral health and prenatal care. The Planned Parenthood affiliate estimates it will lose $100 million in annual revenue from care that can no longer be reimbursed under the law because they provide abortion care. Americans tend to support abortion rights, according to public polling. A May 2025 Gallup Poll found that 51% of respondents described themselves as 'pro choice' while 43% described themselves as 'pro life.'Of those respondents who said they were 'dissatisfied' with the nation's abortion polices, 42% said they would like to see them made 'less strict' while 14% wanted them to be 'stricter.'
Bloomberg
21 minutes ago
- Bloomberg
Bloomberg Daybreak Asia: One Week Left For Trade Talks
The US and Japan this week reached what President Donald Trump called the largest trade deal in history after Tokyo pledged to set up a $550 billion fund for investment into the US, details of which remain obscure. The lack of clarity about how the fund will work adds to questions about the viability of the agreement, which imposes 15% tariffs on Japanese cars and other goods. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn't satisfied. In his latest column, Bloomberg Opinion's Gearoid Reidy writes that after three months, Prime Minister Shigeru Ishiba finally has his trade deal. Gearoid joins us to explain why it may be Ishiba's final act. Plus - the S&P 500 inched to a new record Thursday - its 10th in 19 days - driven by tech gains that papered over a broader weakness as most stocks in the benchmark dropped. The S&P 500 has surged 28% from its April lows as investors grew optimistic that President Donald Trump's tariff war won't hurt the economy and corporate earnings as initially feared. Meantime, South Korea's trade ministry said Friday that Industry Minister Kim Jung-kwan and US Commerce Secretary Howard Lutnick reaffirmed their will to reach a mutually beneficial trade agreement before August 1st deadline. For more on the economic impact of ongoing negotiations, we heard from Janet Henry, Global Chief Economist at HSBC. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.
Yahoo
37 minutes ago
- Yahoo
XRP Gets Its Own Treasury Company: Look Who's Building A $20 Million XRP Reserve
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Nature's Miracle Holding Inc. (OTCQB:NMHI), a publicly listed vertical farming technology firm, on Wednesday announced plans to allocate up to $20 million towards a new corporate treasury strategy centered around Ripple's (CRYPTO: XRP). The company stated that it will use proceeds from a recently approved equity financing arrangement to fund the purchase of XRP tokens, with aims to treat the cryptocurrency as a long-term strategic reserve. The decision makes Nature's Miracle one of the first publicly traded non-financial companies to adopt XRP, currently the third-largest cryptocurrency by market capitalization, as a treasury asset. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — You Can Become an Investor for Just $500.25 The company also plans to engage with staking opportunities and broader participation in the Ripple ecosystem. According to the release, the funding will initially come from capital raised under a registration statement on Form S-1 declared effective by the U.S. Securities and Exchange Commission. Further XRP purchases may be financed through a mix of equity issuances, structured financing, and strategic placements. CEO James Li attributed the move to increased regulatory clarity following the recent passage of the GENIUS Act, signed into law by President Donald Trump on July 18, which has encouraged broader corporate participation in the digital asset space. 'We see the huge potential of XRP as it improves the speed and reduces the cost of cross-border payments,' Li said. Nature's Miracle joins a growing list of companies engaged with XRP. Financial institutions such as Banco Santander (NYSE:SAN) and American Express (NYSE:AXP) have already incorporated Ripple's payment technologies into their operations. In 2023, Japan's SBI Holdings announced the use of XRP in its internal treasury operations, while other blockchain-native firms have used XRP for cross-border liquidity and remittance flows. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article XRP Gets Its Own Treasury Company: Look Who's Building A $20 Million XRP Reserve originally appeared on 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
