Japan's Tycoon Families Seek Buyouts to Evade Investor Pressure
The Ito family, which owns 8% of Seven & i Holdings Co., tried unsuccessfully to engineer a management buyout to thwart a takeover offer of the retailer. The founding family of software developer Fuji Soft Inc. also made a failed attempt to buy out the firm in conjunction with Bain Capital.
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New York Times
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U.S. imports of goods fell in June, the Commerce Department said on Tuesday, as President Trump's tariffs continued to weigh on trade. The nearly 4 percent decline from May came as businesses adjusted to shifting tariff deadlines and uncertainty in negotiations between the Trump administration and officials from other countries. Earlier in the year, companies had rushed to stockpile goods before higher tariffs were put in place. That led to a temporary surge in goods shipments that pushed the trade deficit to a record $138.3 billion in March. Source: Bureau of Economic Analysis By The New York Times Exports dipped slightly, down about 0.5 percent, as U.S. companies sold fewer industrial goods. Still, the overall trade deficit narrowed to $60.2 billion in June. Mr. Trump has imposed tariffs on a variety of industries and trading partners since returning to the presidency in January, raising the U.S. tariff rate to levels not seen in a century. He has suspended, altered and delayed many of those tariffs many times to allow for negotiations, which have resulted in broad-brush agreements with America's major trading partners like Japan and the European Union. Higher tariffs for dozens of countries are set to snap back into effect on Aug. 7 unless more deals are reached. In recent quarters, big swings in trade and inventories have skewed U.S. economic growth. Overall, the data suggest a slow, though positive, pace of growth. Many forecasters expect a deterioration in the months ahead, as tariffs disrupt supply chains and the Trump administration's policies on immigration and government job cuts start to take a toll on the economy. Weaker-than-expected job growth in May, June and July in data released last week has provided more evidence for this view. Angered by the jobs numbers, Mr. Trump fired the commissioner of the Bureau of Labor Statistics on Friday.
Yahoo
42 minutes ago
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Coinbase, Circle, Metaplanet Stocks Tumble: What's Driving The Decline?
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New York Times
43 minutes ago
- New York Times
What to Know About India's Trade in Oil With Russia
For months, Indian and American trade officials haggled over things like tariffs and import quotas, trying to work out an agreement both sides could live with. President Trump, intent on closing a $44 billion trade deficit with India, threatened to impose tariffs on Indian goods sent to America. Then, Mr. Trump brought Russia into it. On July 30, Mr. Trump said that Indian goods would be subject to a 25 percent tariff, a higher rate than its Asian competitors. He berated the country for its purchases of Russian energy, posting on social media that India was 'Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.' For that, Mr. Trump added, India would pay an unspecified penalty on top of the 25 percent levy. A day after saying he would 'substantially' increase the 25 percent levy, the president said on CNBC on Tuesday that he would impose higher tariffs on India in the next 24 hours. Plenty of other people and organizations had made similar arguments about how India was abetting Russia in its war on Ukraine by purchasing Russian oil. But now Mr. Trump had made it part of the U.S.-Indian trade talks. Along with dozens of other countries, India is facing the prospect of U.S. tariffs starting on Thursday. Mr. Trump's demand, which India calls outrageous and unwarranted, has dropped like a stink bomb in the two countries' trade talks. Here's what you need to know about the dispute. Isn't Russia sanctioned? Moscow is under sanctions, primarily by the United States and the European Union. In an attempt to hurt Russia's war effort, the West imposed a cap on the price Russia could charge for its oil. Want all of The Times? Subscribe.
