logo
US Commerce Secretary Lutnick says tariffs take effect on August 1

US Commerce Secretary Lutnick says tariffs take effect on August 1

Yahoo21 hours ago
(Reuters) -U.S. President Donald Trump on Sunday said some trade deals had been made with trading partners and letters would go out to other countries notifying them of higher tariff rates.
Commerce Secretary Howard Lutnick told reporters that the higher tariffs would take effect on August 1, but Trump was "setting the rates and the deals right now."
Trump in April announced a 10% base tariff rate on most countries and higher additional rates ranging up to 50%, although he later delayed the effective date for all but 10% until July 9. Lutnick's comments indicate a three-week reprieve.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Veterans Affairs Dept. Scales Back Plans for Vast Job Cuts
Veterans Affairs Dept. Scales Back Plans for Vast Job Cuts

New York Times

time12 minutes ago

  • New York Times

Veterans Affairs Dept. Scales Back Plans for Vast Job Cuts

The Department of Veterans Affairs has scaled back its effort to reduce its work force by more than 80,000 people, saying on Monday that it intended to cut nearly 30,000 jobs by the end of September instead. The department effectively abandoned its previous plan to fire tens of thousands of workers as part of President Trump's wide-reaching plan to slash the federal bureaucracy. The new target, outlined in a department news release, would slash a work force that numbered 484,000 earlier this year to about 455,000. Nearly 17,000 employees have already left. Instead of firing workers, the rest of the cuts would be made by offering early retirement or severance payments, along with what the department described as 'normal attrition' — the small percentage of employees who quit or move to other jobs every year. 'A departmentwide R.I.F. is off the table,' said Doug Collins, the veterans affairs secretary, referring to a reduction in force, the formal process to initiate mass layoffs in the agency. 'As a result of our efforts, V.A. is headed in the right direction — both in terms of staff levels and customer service,' he said. The department, which provides health care for military veterans, had previously insisted that job cuts would not affect services, and said again on Monday that it had 'multiple safeguards in place' to prevent disruptions. A law signed by President Joseph R. Biden Jr. had significantly expanded the veterans benefits system and set off a record-breaking hiring spree at the department. The department said on Monday that it had continued to cut a backlog of benefits claims after a spike during the Biden administration. In addition to its primary mission of providing care to veterans and serving as the nation's backup health care system, the department also oversees some medical research and manages veterans benefits programs — like pensions, banking, home loans, insurance, job training and funding for college degrees.

BCE: Buy, Sell, or Hold in July 2025?
BCE: Buy, Sell, or Hold in July 2025?

Yahoo

time14 minutes ago

  • Yahoo

BCE: Buy, Sell, or Hold in July 2025?

Written by Brian Paradza, CFA at The Motley Fool Canada BCE (TSX:BCE) stock has been through the wringer lately, sitting 15% below its March peak and leaving many investors wondering if Canada's telecom giant is finally trading at fire-sale prices. With second-quarter earnings around the corner on August 7, 2025, and some major strategic moves underway, let's dig into whether BCE stock deserves a spot in your portfolio in July 2025. Following a recent 56% dividend cut, BCE stock's payout currently yields 5.7%. That's a far cry from the double-digit yields we saw earlier this year, but still attractive in today's market. The dividend cut might have stung shareholders, but management made this tough decision to accelerate deleveraging efforts and provide enhanced financial flexibility for future growth. The telecom giant carries more than $38.1 billion in net debt, representing 2.2 times its equity value. That may sound alarming as intense price competition eats into the industry's capacity to generate free cash flow, but it's reasonable in the capital-intensive telecom industry. What matters more is management's clear roadmap to reduce the net debt leverage ratio to 3.5 times adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) by the end of 2027. Early in July, BCE closed its $4.2 billion sale of its minority stake in Maple Leaf Sports and Entertainment (MLSE) to Rogers Communications. While this provides a nice cash boost, the real excitement lies in how these proceeds will be deployed. The company is using this capital to fund its ambitious $5 billion acquisition of Ziply Fiber, expanding BCE's fibre footprint into the underserved U.S. market. A strategic partnership with PSP Investments may help fund BCE's U.S. fibre growth cost-effectively, reducing the company's capital investment and improving free cash flow by over $1 billion from 2026 to 2028. This partnership structure is particularly astute as BCE retains operational control while PSP provides the capital muscle needed for expansion. Let's be honest about BCE's competitive landscape. Canadian telecom remains intensely competitive, with pricing pressures affecting all players. BCE's mobile phone average revenue per user was down 1.8% during the first quarter, though this represents a second straight quarter of improvement in the year-over-year rate of decline. The company is focusing on margin-accretive subscriber acquisition rather than chasing unprofitable growth. Investors will get more colour on the price competition front in next month's quarterly report. It's still tough out there for everybody in the sector. BCE stock may represent a compelling opportunity for patient, long-term oriented investors in July. The company trades at what appears to be a significant discount while executing a strategy for growth. BCE stock is exchanging hands at forward enterprise value-to-EBITDA multiples under 6.7 in July. The stock trades around the cheapest levels it has ever been in a decade. Investors can scoop BCE stock at valuations lower than COVID-19 market crisis-level multiples of 2020. Most noteworthy, the BCE's dividend is significantly derisked now, yet remains a respectable yield to add to a dividend portfolio at today's discounted prices. BCE is most likely turning a corner as it continues to generate positive free cash flow to service debt. Compared to peers, BCE's 5.7% dividend yield sits between Telus at 7.6% and Rogers Communications at 4.5%. The dividend cut, while painful, demonstrates management's commitment to financial discipline. The new payout policy targeting 40% to 55% of free cash flow provides flexibility while maintaining an attractive yield. For income-focused investors, BCE's adjusted dividend still offers meaningful returns in a low-rate environment. I am slowly turning bullish on BCE stock as it shows signs of a classic value opportunity this month. The company has made tough decisions to position itself for long-term success, even if it meant short-term pain for shareholders. The combination of Canada's largest fibre network, a strategic U.S. expansion, and improving operational efficiency creates a compelling investment thesis as shares trade at fire-sale prices in July 2025. Is BCE a buy, sell, or hold? The telecom stock is a hold as it turns a corner. However, its compelling valuation may be attractive to new investors looking to add a layer of long-term passive income for retirement. The post BCE: Buy, Sell, or Hold in July 2025? appeared first on The Motley Fool Canada. Before you buy stock in BCE, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and BCE wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Brian Paradza has no position in any of the stocks mentioned. The Motley Fool recommends Rogers Communications and TELUS. The Motley Fool has a disclosure policy. 2025 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

ServiceNow Trades 16% Below 52-Week High: Buy, Sell or Hold the Stock?
ServiceNow Trades 16% Below 52-Week High: Buy, Sell or Hold the Stock?

Yahoo

time14 minutes ago

  • Yahoo

ServiceNow Trades 16% Below 52-Week High: Buy, Sell or Hold the Stock?

ServiceNow NOW shares closed at $1,011.89 on Tuesday (July 2), roughly 15.5% below the 52-week high of $1,198.09 it hit on Jan. 28, 2025. NOW shares have dropped 4.5% year to date (YTD), underperforming the Zacks Computer and Technology sector's return of 5.7% but outperforming the Zacks Computers – IT Services industry's drop of 6.3%.NOW shares have suffered from a worsening macroeconomic environment following U.S. President Donald Trump's decision to levy tariffs on trading partners, including China and Mexico. The company's federal business is expected to suffer from DOGE-related issues. ServiceNow expects unfavorable forex impacts of $175 million for 2025 and back-end loaded federal business is expected to hurt the growth strategy to accelerate the adoption of its Agentic AI by foregoing immediate revenues is expected to affect the subscription revenue growth rate in 2025. Image Source: Zacks Investment Research However, since reporting first-quarter 2025 results on April 23, ServiceNow shares have jumped 24.5%. NOW has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. The company's expanding portfolio, accretive acquisitions and a rich partner base are the key ServiceNow's stock is displaying a bullish trend as it is trading above both 200-day and 50-day moving averages. Image Source: Zacks Investment Research So, what should investors do with the NOW stock? Let us dig deeper to find out. NOW's expanding portfolio has been a major driver. In May 2025, ServiceNow introduced its Core Business Suite, an AI-powered solution designed to streamline and transform core business operations, including HR, finance, procurement, facilities and legal, by unifying workflows and automating processes across departments to improve efficiency, reduce time to value and enhance employee announced the launch of AI agents in its Security and Risk solutions, transforming enterprise security by enabling self-defending systems, improving response times, and enhancing risk management in collaboration with Microsoft MSFT and Cisco. Expanding its portfolio in May 2025, NOW announced advancements in autonomous IT, introducing agentic AI capabilities on the ServiceNow AI Platform to drive zero outages, zero downtime and zero service desk enterprise workflow automation suite has been gaining traction as enterprises increasingly adopt digital tools to streamline operations across departments. Through the Now platform, ServiceNow supports diverse workflows, ranging from IT service management and customer service to HR, employee experience and app have also played an important role in expanding NOW's portfolio. In April 2025, ServiceNow announced the acquisition of a company specializing in AI-powered and Configure, Price, Quote solutions. This move is set to bolster ServiceNow's CRM offerings, particularly in sales and order management, by integrating advanced AI expanding platform is driving enterprise adoption. In the first quarter of 2025, the company reached 508 customers, generating more than $5 million in ACV, representing 20% year-over-year growth. Expanding customer base is driving subscription revenues, which hit $3.01 billion in the first quarter of 2025, reflecting year-over-year growth of 20% in constant currency. A rich partner base that includes the likes of Alphabet, Amazon AMZN, Microsoft and NVIDIA NVDA is noteworthy. In May 2025, NOW partnered with Amazon's cloud computing arm, Amazon Web Services, to launch a bi-directional data integration solution, enabling enterprises to unify data and trigger AI-powered workflows by connecting ServiceNow with Amazon and NOW collaborated to launch AI agents for the telecom industry. The AI agents were built with NVIDIA AI Enterprise software and the AI platform NVIDIA DGX Cloud. ServiceNow has expanded its partnership with NVIDIA to enhance agentic AI by integrating NVIDIA Llama Nemotron reasoning models and AI agent evaluation tools into the ServiceNow Platform for optimized business transformation. The Zacks Consensus Estimate for 2025 earnings is pegged at $16.54 per share, up by a penny over the past 30 days, indicating an 18.82% increase from the 2024 reported figure. ServiceNow, Inc. price-consensus-chart | ServiceNow, Inc. Quote The consensus mark for second-quarter 2025 earnings is pegged at $3.54 per share, up by a penny over the past 30 days, suggesting year-over-year growth of 13.1%. NOW stock is overvalued, as suggested by the Value Score of terms of the forward 12-month Price/Sales, NOW is trading at 14.75X, higher than the broader sector's 6.51X. Image Source: Zacks Investment Research ServiceNow's expanding portfolio and strong partner base are expected to drive its clientele, boosting subscription revenues. However, unfavorable forex amid a challenging macroeconomic environment is concerning. NOW's stretched valuation makes the stock unattractive for value currently has a Zacks Rank #3 (Hold), which implies that investors should stay away from the stock for the time can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store