The Shy Billionaire Who Built an Empire of Superteams
Every other major acquisition—including the Los Angeles Dodgers, Chelsea FC, and the Cadillac Formula One team—had turned into protracted affairs that required the involvement of bankruptcy courts, suspicious rivals, or the British government. But when news first emerged last month that Walter, the CEO of Guggenheim Partners, was taking over the Lakers, it was already a fait accompli.
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Yahoo
31 minutes ago
- Yahoo
Wall Street was expecting a TACO Tuesday. But Dow futures fall 250 points after Trump says he will set tariffs as high as 70%
While U.S. markets were closed for the July 4 holiday, stock futures sank on Friday after President Donald Trump said he will start sending out letters informing countries of what tariffs they will face. The rates, which could reach as high as 70%, would become effective Aug. 1, he added. That comes ahead of the July 9 expiration of a temporary pause on his 'Liberation Day' tariffs. U.S. stock futures tumbled on Friday after President Donald Trump said he will start sending out letters informing countries of what tariffs they will face. On Thursday, he told reporters that about '10 or 12' letters would go out Friday, with additional letters coming 'over the next few days.' The rates would become effective Aug. 1. 'They'll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs,' Trump added. While U.S. markets were closed for the July 4 holiday, futures tied to the Dow Jones Industrial Average dropped 251 points, or 0.56%. S&P 500 futures were down 0.64%, and Nasdaq futures fell 0.68%. U.S. oil prices slipped 0.75% to $66.50 per barrel, and Brent crude lost 0.41% to $68.52. Gold edged up 0.11% to $3,346.70 per ounce, while the U.S. dollar fell 0.16% against the euro and 0.30% against the yen. The Trump administration has been negotiating with top trade partners since the president put his 'Liberation Day' tariffs on a 90-day pause. That reprieve will expire on Wednesday, July 9. So far, only a few limited trade deals have been announced, and negotiations with other countries were expected to require more time. So as the Wednesday deadline approached, Wall Street was expecting Trump to announce an extension to the tariff pause by Tuesday, reviving the so-called TACO trade that alludes to his history of pulling back from his maximalist threats. 'We suspect that further last-minute concessions will be made to permit extensions for most countries, but a few of the 'worst offenders' may be singled out for punitive treatment,' analysts at Capital Economics predicted earlier this week. 'Markets seem to be positioned for a fairly benign outcome, implying a risk of some near-term turbulence if that fails to materialise.' That assumes Trump won't risk a repeat of the epic April selloff that was triggered by his Liberation Day tariffs, and Capital Economics also warned such an assumption could be complacent. In fact, Trump has been saying for weeks that he prefers to unilaterally set tariffs with each country rather than engage in negotiations with all of them. But amid the absence of any letters, markets downplayed the risk that tariffs could spike again. Still, Trump has kept beating the drum about letters. In an interview that aired on Sunday, he was asked about the tariff pause and the looming deadline. 'I'd rather just send them a letter, very fair letter, saying, 'Congratulations, we're going to allow you to trade in the United States of America. You're gonna pay a 25% tariff or 20% or 40% or 50%,'' Trump replied. 'I would rather do that.' When asked if the pause will not be extended, he said, 'I don't think I'll need to because—I could—there's no big deal.' Trump further clarified his stance on the July 9 deadline, saying, 'I'm gonna send letters. That's the end of the trade deal.' This story was originally featured on Sign in to access your portfolio
Fox News
33 minutes ago
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Wimbledon Saturday
Wimbledon will now be entering the Round of 16. following Saturday's matchups. Learn more about your ad choices. Visit FOX News Radio
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Alvin Kamara took a first-pitch mulligan in Chicago on Saturday
Alvin Kamara got a mulligan. And he made the most of it. Via the Saints running back threw out the first pitch for Saturday's game between the Cardinals and the Cubs. He didn't like his first attempt at the first pitch, which was in the dirt and bounced away from the mascot/catcher. Advertisement So Kamara took a second one. It's a new move that others should copy. He stayed on the mound an called for the ball. So he got the ball, and he threw it again. For Kamara, the second pitch went much better than the first one. And it was, in the end, another example of the very real difference between throwing from the mound and not throwing from the mound.
