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NBC News
3 hours ago
- NBC News
CEOs globally brace for tariff turmoil with a new game plan
Trade tensions are rising, forcing top executives to rewrite the rulebook on how their companies operate, where they invest and what customers buy. In interviews with CNBC this earnings season, CEOs across industries — from aluminum and aerospace to chocolate, banking, telecoms, and energy — sent a clear message: tariffs are no longer just a political tactic. As trade rules grow more uncertain and tariffs resurface in policy discussions, business leaders say they're rethinking everything from where factories are located to how products are priced. The old 'just in time' model is giving way to something more cautious: make goods closer to the buyer, ask for exemptions where possible, and stay alert to shifting consumer habits. This earnings season has been marked by currency swings, inflation, and political uncertainty. And in that environment, tariffs are no longer background noise. They're front and center in how companies are managing risk. For many in the C-suite, the threat isn't just about short-term costs — it's about staying competitive for the long haul. Build local, think political 'We are concerned about the competitiveness of aluminum compared to other materials,' Hydro Chief Financial Officer Trond Olaf Christophersen told CNBC earlier this week. The company is already passing U.S. tariff costs onto customers. But the deeper worry is how, 'some customers in packaging are already testing steel and plastic alternatives. That's the long game we're watching.' For Christophersen, it's not just a quarterly issue — it's a warning sign. And Hydro's concern reflects a broader shift: tariffs are speeding up lasting changes in how companies do business. One of the most common responses is moving production closer to customers. Ericsson CEO Börje Ekholm told CNBC the company's North American factory, opened in 2020, was a forward-looking move. 'We've had that 'Made in America' stamp for some time,' he said. The facility now helps protect the company from shifting global politics. Volvo Cars CEO Håkan Samuelsson is also focused on the U.S. 'We want to fill our factory in South Carolina,' he told CNBC, noting that the company is breaking operations into more independent regions so local teams can respond quickly to new trade policies. Pharma giant AstraZeneca is also pivoting its footprint, rapidly shifting manufacturing to the U.S. and planning a $50 billion investment in local operations. 'We have lots of reasons to be here,' CEO Pascal Soriot said on the company's earnings call. For others, localization is as much about sovereignty as it is about logistics. 'We are building data centers for American hyperscalers in Europe, but also for Europeans in the U.S. It's a conscious decoupling,' Skanska CEO Anders Danielsson told CNBC. 'Sovereign tech is a real priority.' Not every company can shift where things are made. Some are relying on diplomacy. Rolls-Royce CFO Helen McCabe told CNBC the aerospace firm worked with U.K. and U.S. governments to win exemptions for key parts. 'It's not just about tariffs,' she said. 'It's about aligning our industrial footprint to minimize any friction.' That kind of behind-the-scenes outreach points to a bigger change: trade policy has become a key part of business planning. More companies are factoring in government relations and political risk when making decisions. Price hikes, policy risk and volatility Even the most proactive companies can't prepare for everything. Some are eating the higher costs. Others are raising prices — carefully. Lindt & Sprüngli, the premium chocolate maker, raised prices by 15.8% this year to offset soaring cocoa costs, driven partly by export restrictions in West Africa. 'We saw only a 4.6% decline in volume mix,' CEO Adalbert Lechner told CNBC. But he admitted that U.S. consumers are becoming more price-sensitive. Givaudan CEO Gilles Andrier shared a similar view. 'Some of our natural ingredients come from Africa and Latin America,' he told CNBC. 'So we're exposed to some tariffs there.' Even companies with local factories can't avoid all trade impacts when raw materials come from abroad. For companies tied to commodities, the trade duties are just one piece of a bigger puzzle: unpredictability. 'The tricky thing was, it was non-fundamentals-based volatility,' Shell CEO Wael Sawan told CNBC, describing recent swings in the oil market. 'This wasn't a change to physical commodity flows. This was really sort of paper-induced volatility.' That, he said, makes it harder to plan investments or manage price risk. Even in banking, where the direct impact of tariffs might seem small, the consequences are showing up. 'When you price risk now, you can't just look at credit or liquidity. You have to model policy unpredictability,' UniCredit CEO Andrea Orcel told CNBC. That includes trade tensions, regulatory surprises, and election-related gridlock. This quarter makes one thing clear: policy is now a core business risk, not background noise. With elections ahead and industrial policy shifting, companies are localizing, diversifying, lobbying, and repricing faster than ever. Tariffs aren't just a cost — they're reshaping industries. When customers trade aluminum for steel or chocolate for cheaper treats, the threat isn't just margins. It's market share. So yes, leaders are building closer to home, pricing smarter, negotiating harder as they scramble to stay ahead of the next curveball.
Yahoo
8 hours ago
- Yahoo
Living Paycheck to Paycheck? Try Suze Orman's Top 5 Money-Saving Tips
With around half of Americans reportedly living paycheck to paycheck, saving money might seem impossible. But financial guru Suze Orman has some surprisingly doable advice for squeezing savings out of even the tightest budget. Here are Orman's five best tips for how to save even when living paycheck to paycheck. Read Next: For You: Strike 'Can't' From Your Vocabulary 'You have to strike the word 'can't' out of your vocabulary,' Orman told CNBC. Instead of saying you can't save, start looking for places where money is slipping through the cracks. That $10 lunch out? It could be going into your retirement account instead. Make Yourself the Priority Think you're too broke to save? Orman said to look closer at your spending. According to she challenges everyone to cut utility bills by 10% (hello, lower electric bill!) and examine those credit card statements. There's usually some 'hidden money' in there you could redirect to savings. Learn More: Automate Everything Here's a trick that actually works: Have money whisked away before you can spend it. 'You will find that you do not miss it,' Orman explained to CNBC. Even $50 a month adds up — especially if you put it in a Roth IRA, where you can access your contributions if you really need them. Get Real About Wants vs. Needs Every time you're about to buy something, Orman suggests asking one simple question: 'Is this a want or is this a need?' Medicine and groceries? Needs. That new phone case? Probably a want. Being ruthless about this distinction can free up surprising amounts of cash. Build That Emergency Fund While it might seem impossible, Orman insists everyone needs an emergency fund covering eight to 12 months of expenses. Start small — even $20 a week adds up. 'The most important thing is that you have got to live a life below your means, but within your needs,' Orman said. You don't need to make six figures to start saving — you just need to be strategic about it. Start with what you can, automate it and slowly increase your savings as you find more 'hidden money' in your budget. More From GOBankingRates 10 Used Cars That Will Last Longer Than the Average New Vehicle This article originally appeared on Living Paycheck to Paycheck? Try Suze Orman's Top 5 Money-Saving Tips 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
10 hours ago
- Yahoo
Timeshares and 4 Other Things Boomers May Be Tempted To Buy in Retirement but Shouldn't
You've spent years building your nest egg, and now that you're retired, it's tempting to finally enjoy it. But some big-ticket purchases, while appealing, could put your long-term financial stability at risk. 'In 20 years of helping retirees transition to a retirement lifestyle, I have often seen people make uninformed decisions that they regret later,' Laura Redfern, a CFP and CeFT at Shadowridge Asset Management, wrote in an email. Read More: Find Out: Below are some common retirement splurges that might feel rewarding but could cost you more than you think. Timeshares Timeshares allow you to enjoy your vacation space without buying and maintaining a second home, but they may not be the best purchase in retirement. 'While the idea of a guaranteed getaway sounds appealing, timeshares often come with hidden fees, inflexible booking systems and long-term contracts that are difficult to exit,' said Jake Falcon, CRPC, founder and CEO of Falcon Wealth Advisors. According to CNBC, one study found that as many as 85% of buyers regret their purchase. Redfern also pointed out that timeshares are practically illiquid and nearly impossible to resell. 'In retirement, flexibility is key,' Falcon said. 'I advise clients to rent when they travel — this keeps options open and avoids locking up capital in a depreciating asset.' Check Out: Oversized Homes or Second Properties 'Many retirees dream of a vacation home, but the reality is that maintenance, taxes and insurance can quickly eat into fixed income,' Falcon explained. Instead, he recommended downsizing or renting seasonally rather than purchasing a second property. 'As I discuss in my book 'Retiring Right — Smart Steps for Exiting Corporate America,' liquidity and simplicity are two of the most valuable assets in retirement,' Falcon explained. Luxury Vehicles A luxury vehicle is also a purchase retirees may want to rethink. According to Redfern, a new car typically loses 10% to 20% of its value the second you drive it off the lot. 'For retirees on a fixed income, this is a sizable loss. Over time, depreciation continues, with some luxury cars losing 60% or more of their value within five years. Would you buy a mutual fund or a stock that was likely to lose 60% in five years? I think not!' she explained. Extravagant Gifts It's natural to want to help children or grandchildren, especially with big purchases like a house or a new car. But giving large gifts early in retirement can drain your savings faster than expected. 'When you feel the desire to give a gift, pause and consider this: What are you trying to communicate with this gift? Is there another, less expensive way to express that? Is there a way you can help them learn about how money works (like helping with a down payment, but having them be responsible for the loan), rather than giving them an outright gift?' Redfern explained. High-Risk Investments Chasing returns through high-risk investments may be tempting, Falcon noted, especially with more time to watch the markets. But this isn't a smart move. 'Retirees should prioritize stability and income. As I often say in my podcast 'Upticks,' 'Retirement is not the time to swing for the fences — it's about protecting the base you've built.' We compare our investment strategy to hitting singles and doubles versus swinging for the fences and striking out,' Falcon said. More From GOBankingRates 10 Used Cars That Will Last Longer Than the Average New Vehicle This article originally appeared on Timeshares and 4 Other Things Boomers May Be Tempted To Buy in Retirement but Shouldn't Sign in to access your portfolio
