Author of 'King Dollar': Recent actions by Trump administration may drive interest rates higher
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13 minutes ago
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Foxconn tells hundreds of Chinese staff to return from India, Bloomberg says
Apple's (AAPL) biggest assembly partner, Foxconn, (HNHPF) has ordered more than 300 of its Chinese employees to return home from its iPhone factories in India, Bloomberg's Sankalp Phartiyal, Debby Wu, and Mark Gurman report. The employees told to return account for the bulk of Foxconn's staff in its iPhone facilities in India, and only Taiwanese support staff remain in the country, people familiar with the matter say. Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on AAPL: Disclaimer & DisclosureReport an Issue Video: Apple edges higher, Centene plummets in early trading Jefferies Upgrades Apple Stock (AAPL) to Hold, But Stays Cautious as 'AI Is Not Yet a Game Changer' Nvidia Stock (NVDA) Nears $4 Trillion Market Cap as AI Trade Accelerates Closing Bell Movers: Centene down 24% after pulling 2025 guidance Apple Sues (AAPL) Former Employee for Stealing Company Secrets 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
an hour ago
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Even With A Huge Home-Court Advantage The Big Three Seem Doomed
The American auto industry is once again in a trap of its own making. For decades European and Asian automakers have been pushing the Big Three deeper into a spiral of producing larger, more profitable, lower-quality vehicles. Each time an American automaker has faced adversity and evolving consumer desires, they have failed to adapt to the change and instead pushed headstrong into the status quo, begging for government aid in the form of protectionist economic policies or massive financial bailouts. With Toyota's venerable RAV4 taking the best-selling-vehicle-in-America honors for 2024 from Ford's F-series pickup, it certainly feels like the beginning of the end. Once Ford, General Motors, and Chrysler were behemoths on the international stage, but now can't even conquer the U.S. market. The first step in this long road to the bottom was the 1973 fuel crisis, for which the Big Three were ill prepared and got stomped on by Japanese various international financial collapses of the 1990s and 2000s the American automakers continued to push larger and more expensive products to market, in spite of declining build quality and comparative reliability. The Big Three are responsible for some of the most recalled cars on the market, and simply can't match the Japanese, Korean, or German brands on quality rankings, according to Consumer Reports. Looking at sales data, and the renewed head-in-the-sand approach to electrification, there isn't much about the American auto industry to be impressed by these days. Read more: These Cars Have The Best Wings Ever Within my lifetime U.S. auto production has tanked from half a million cars per month to just over 100,000 cars per month. The absolute nadir of the 2000s financial crisis saw automobile production in this country dip to a then-unfathomable 107,500 vehicles in January of 2009. Current automobile production rates within the United States have dipped lower than that in three of the last seven months, according to Federal Reserve Economic Data. While the Trump administration has favored protectionist economic policies aimed at moving vehicle production back to the U.S. the long-term outlook doesn't seem positive. With that protection comes walking back on globally focused electric vehicle incentives and subsidies, which the Big Three desperately needs to compete anywhere else in the world. I know I've said it a million times before, but if Detroit doesn't step up its game in the near future, China is going to bully them and eat their lunch. The U.S. auto industry is building fewer cars than ever, larger than ever, more expensively than ever, and reversing course on electrification? That all spells a recipe for disaster. If you ever needed an idea of what the U.S. auto industry could look like in the next decade or two, simply look at the British auto industry. Thanks to a failure to adapt to a changing global market and increased competition, while thumbing their collective noses at modernization, a once booming industry, packed with competition, collapsed almost overnight. It's difficult to watch this retrospective from quarter-century-ago from Jeremy Clarkson (above) and not instantly see the parallels. The current state of the UK auto industry is one that sees only the high-end automakers survive, sold off to foreign interests, while the brands catering to the everyman rot on the vine. Ultra-lux Bentley, Land Rover, and Rolls-Royce still exist, likewise the sportiest cars from McLaren, Jaguar, Aston Martin, and Lotus still wave the Union Jack, but not a single one of them remains under British ownership. MG and Mini, the last remnants of a Brit car for the people, are also foreign-owned. Will the Americans suffer the same fate? There isn't exactly an American analogue to any of these British brands, so will the Dodges, Fords and Chevrolets fade into ignominy like so many other Austins, Morrises, Rovers, Triumphs, or Rileys before them? Will our one time standard of the world auto industry soon be reduced to Cadillac and Jeep? Perhaps Corvette? Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Yahoo
an hour ago
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Japan PM Ishiba says President Trump may be misinformed on some tariff issues
TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Thursday U.S. President Donald Trump's views on some tariff-related issues may be based on misunderstanding or misinformation, as a pause on a 24% reciprocal tariff on imports from Japan expires next week. "We hear President Trump say no U.S. cars are running in Japan and that we are not importing (U.S.) rice. That could be based on misunderstanding or misinformation," Ishiba said on public broadcaster NHK's news programme. Japan has in fact imported historically high volumes of U.S. rice in recent months as domestically grown rice has skyrocketed in price since last year, hurting consumers. Ishiba said, however, tariff negotiations with the United States are making steady progress, without going into specifics. 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
