Latest news with #Sanctions
Yahoo
5 days ago
- Business
- Yahoo
NVIDIA Corporation (NVDA) CEO Wants To Sell GPUs To China, Says Jim Cramer
NVIDIA Corporation (NASDAQ:NVDA) is one of the . NVIDIA Corporation (NASDAQ:NVDA) is the world's premier AI GPU company. Its shares have been quite volatile in 2025 and have gained a modest 4% year-to-date. NVIDIA Corporation (NASDAQ:NVDA) has suffered from investor skepticism about AI demand earlier this year. Yet, despite the turmoil, Cramer has maintained that the firm is in a commanding position for AI and should experience solid demand in the future. More recently, US sanctions on China which directly cover NVIDIA Corporation (NASDAQ:NVDA)'s GPUs have influenced the stock price. The shares surged after the firm's latest earnings report it was revealed that the impact of the sanctions was less than what had initially been feared. Cramer discussed US chip sanctions and what NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang is likely thinking: '[On Huang wanting China to have access to NVIDIA chips] Yeah he does, because he doesn't have, he just wants to give them the Biden. The Biden chip. The H20.' NVIDIA Corporation (NASDAQ:NVDA) is a regular feature of Cramer's morning show. He recently discussed the stock in detail: 'Uh, but, there's, you might see NVIDIA going up here. Now, NVIDIA gave a very good talk, this was Jensen's time to go. Uh, sovereign AI again. . . but I have to tell you Carl, here it goes again, I talked about it last night at the top of the show. They've made a manifesto about quantum, about how quantum's here. There are four quantum stocks that we have to follow. Some of my people that I work with were very, I think that they were, probably concerned that I went out and said, look we ought to be looking at Rigetti, we ought to be looking at, you know the ones that people talk about. But they're gonna fly!' A close-up of a colorful high-end graphics card being plugged in to a gaming computer. 'Taiwan Semi was the proxy, as that went up you could buy NVIDIA. David, all anyone cares about, and I think this is wrong, is that an NVIDIA chip requires a package [trade deal package with the EU]. . . yes, that's all people care about. I think that's a big mistake. There's much more to it than that. But that is the focus.' While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Trump Says China Can Buy Oil From Iran
President Trump said China can purchase Iranian oil, despite his administration's imposition of numerous sanctions designed to impede such trade. The U.S. has sanctioned Chinese refineries, port operators and other companies for importing Iranian crude as part of its broader "maximum pressure" campaign against Tehran. 'China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also,' Trump wrote in a post on Truth Social. Roughly 90% of Iranian oil exports go to China. To evade sanctions, some traders have transported Iranian oil to China and other destinations using companies based in Malaysia, China, India and the United Arab Emirates.
Newsweek
6 days ago
- Business
- Newsweek
Nationwide McDonald's Boycott This Week: Latest Update From Organizer
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The organization behind a nationwide boycott of McDonald's that is set to start on Tuesday said the movement is "about more than burgers and fries." As part of its ongoing "Economic Blackout Tour," The People's Union USA, the movement behind recent boycotts of Target and Walmart, is urging Americans to refrain from eating at the fast-food chain between June 24 and June 30. "This is about power," the organization said in a post shared by its founder John Schwarz on Instagram on Saturday. "When we unite and hit corporations in their wallets, they listen." Newsweek has reached out to McDonald's via email for comment. Why It Matters The first half of 2025 has been marked by boycotts of several household-name companies, sparked by certain corporations rolling back diversity, equity and inclusion (DEI) initiatives, as well as wider pushback against practices such as tax avoidance and underpaying workers. Since late 2023, McDonald's has also been battling a boycott led by the pro-Palestinian Boycott, Divestment, Sanctions (BDS) movement for alleged complicity with the actions of the Israeli military in the Gaza Strip. What To Know The People's Union USA describes itself on its website as "a grassroots movement focused on economic resistance, corporate accountability, and real justice for the working class." Since February, the group has orchestrated boycotts of Amazon, Walmart and Target, as well as periodic "economic blackouts," during which it says Americans should "avoid shopping, streaming, online orders, fast food, and everything in between," and rely exclusively on small, local businesses. The movement said it is demanding "fair taxes, an end to price gouging, real equality, and corporate accountability" through its upcoming boycott of McDonald's. Last week, The People's Union USA accused McDonald's in an Instagram post of engaging in "performative DEI with no meaningful change." The movement also alleged that the company pays its workers low wages and suppresses workers' rights and union efforts. An exterior view of the McDonald's restaurant at the Lycoming Mall. An exterior view of the McDonald's restaurant at the Lycoming Mall. Alamy Live News via AP What People Are Saying The People's Union USA in an Instagram post shared by founder John Schwarz: "This is a show of strength, solidarity, and people powered change. Let them feel it. Let them hear us. Let this be just the beginning." Chris Kempczinski, chairman and CEO of McDonald's Corporation, in a January 2024 LinkedIn post: "I also recognize that several markets in the Middle East and some outside the region are experiencing a meaningful business impact due to the war and associated misinformation that is affecting brands like McDonald's. This is disheartening and ill-founded." Genna Gent, vice president of government relations for McDonald's, in a 2019 letter to the National Restaurant Association and obtained by Politico: "Going forward, McDonald's Corporation will not use our resources, including lobbyists or staff, to oppose minimum wage increases at the federal, state or local levels. Nor will we participate in the association advocacy efforts designed expressly to defeat wage increases." What Happens Next? The People's Union USA said it is planning an economic blackout for July 4, along with boycotts of Starbucks, Amazon and Home Depot throughout the month. During the month of August, the movement is planning boycotts of Walmart, McDonald's and Lowe's. Do you have a story that Newsweek should be covering? Do you have any questions about this story? Contact LiveNews@
The National
6 days ago
- Business
- The National
War's effect on Iran's battered economy will be 'devastating', with strong signs of regime change
Iran's economy will face a hard hit from the war with Israel, as it continues to grapple with western sanctions, high inflation and currency devaluation, analysts say. Israel made a surprise attack on nuclear sites in Iran on June 13, claiming Tehran was close to developing a nuclear weapon. As the conflict dragged on with tit-for-tat attacks, the US entered it on Saturday, bombing three nuclear facilities in Iran. 'The impact of the continuing war on Iran's economy will be devastating, particularly because the economy has lost its resilience after 14 years of sanctions,' said Mahdi Ghodsi, an economist at The Vienna Institute for International Economic Studies. Residents have begun leaving cities such as Tehran, Tabriz and Isfahan, indicating that economic activity and employment have been 'severely paralysed across sectors', he said. Capital market reactions are likely to be negative with the stock market currently closed, said Mohammad Farzanegan, professor of Middle East economics at the Centre for Near and Middle Eastern Studies, Philipps-University Marburg in Germany. 'The market is marked by a high degree of uncertainty,' he said. 'The war has placed an additional burden on Iran's foreign trade, which was already strained by sanctions.' Iran's economy has suffered under the extraneous sanctions reimposed by Washington in 2018 after US President Donald Trump in his previous term removed the US from the Joint Comprehensive Plan of Action nuclear deal. The sanctions are yet to be lifted. The country is also on the Financial Action Task Force's blacklist. Iran's economic growth is forecast to flatline at 0.3 per cent in 2025, down from 3.5 per cent in 2024, according to the International Monetary Fund. It is forecast to expand 1.1 per cent next year, the fund said in April. The fund also expects Iran's inflation rate to rise to 43.3 per cent this year, from 32.6 per cent in 2024, before slightly easing to 42.5 per cent next year. Due to the lorry drivers' strikes and the Bandar Abbas explosion just before the Israeli attacks, transport may be the most affected sector, according to Mr Ghodsi. 'This disruption is causing severe supply chain bottlenecks and shortages of goods and resources across cities of all sizes,' he said. 'The prices of goods and commodities are likely to surge substantially due to these supply shocks, further accelerating inflation.' While the government has announced penalties for shopkeepers raising prices, such measures are unlikely to be effective, he added. 'Sanctions have weakened Iran's economy and eroded the middle class. Real incomes have declined due to inflation, leading to a higher incidence of poverty,' Mr Farzanegan said. He also said sanctions reduce Iran's military spending, which 'increases vulnerability to external aggression'. Iran's military spending fell by 10 per cent in real terms to $7.9 billion last year despite its involvement in regional conflicts and its support for regional proxies, according to the Stockholm International Peace Research Institute (Sipri). The impact of sanctions on Iran severely limited its capacity to increase spending, Sipri said in an April report. Meanwhile, oil revenue have also been affected as a result of disrupted economic activity. While the damage to energy infrastructure by Israeli attacks has not been significant, fear of bombardment has 'already driven workers away from the refineries, significantly hampering production', Mr Ghodsi said. 'Moreover, strikes have damaged parts of Iran's energy, electricity, and water infrastructure, which poses a serious risk to civilian life. Without basic access to energy, even food preparation becomes a challenge, a scenario that could escalate into a humanitarian catastrophe,' he added. Currency devaluation The Iranian rial, which has been devalued significantly in recent months, fell sharply after the first Israeli attack. 'Subsequently, the government imposed restrictive capital controls and supplied foreign currency to the market', which temporarily supported the rial, Mr Ghodsi said. The exchange rate on the parallel market was at about 92,250 rials to a dollar at 1.15pm UAE time on June 23, according to which gathers live data from Iranian exchanges. In April, Iran's currency fell below the psychologically important level of 1,039,000 rials to the US dollar after US President Donald Trump's administration pressed on with its 'maximum pressure' campaign against Tehran with a new round of sanctions. Further currency devaluation is expected, according to Mr Farzanegan. Mr Ghodsi agreed, adding that the capital controls on the stock exchange and banking sector have so far prevented a financial meltdown and bank runs. 'However, the increasing exodus to neighbouring countries indicates a capital flight in motion. Every time these controls are loosened, the rial nosedives, worsening instability, driving up import prices, and triggering economic shocks,' he said. 'Regime change on the cards' Mr Ghodsi said the indicators point towards a regime change in Iran. 'I believe the early stages of state failure are now emerging. The Islamic Republic is on a slippery slope,' he said. He cited the Weberian theory with four criteria 'indicative of state failure, all of which now apply to Iran'. They include loss of monopoly on the use of force, erosion of legitimate authority, inability to provide essential public services and inability to engage as a sovereign peer in the international system. 'Given the continuing retaliatory attacks and the involvement of the United States, we are witnessing clear indicators of regime change,' he said. According to Mr Farzanegan, even if Iran and its government withstand the aggressions, they will need to 'significantly revise their economic, political, social, and security agendas'. 'Whether Iran can resist aggressors (Israel and the US) depends not only on its economic conditions but also on factors like internal unity and the extent of rally-around-the-flag effects during invasion,' he said. Reforms will need to be undertaken. 'The immediate priority is to preserve Iran's territorial integrity and reduce the risk of a civil war instigated by external actors seeking to turn Iran into a failed state. Such a collapse would be the worst possible,' he added.
Hindustan Times
21-06-2025
- Business
- Hindustan Times
McDonald's to face nationwide boycott in US from June 24 to 30: Here's what to know
McDonald's is expected to be one of the several companies boycotted this year by The People's Union USA, calling for 'economic resistance' as a way to hold corporations accountable and achieve 'real justice for the working class.' McDonald's has also been fighting a boycott since late 2023, spearheaded by the Boycott, Divestment, Sanctions (BDS) movement, which supports Palestine, for allegedly being involved in the Israeli military's operations in the Gaza Strip.(Representative Image/AFP) During its current 'Economic Blackout Tour,' the organising group behind Target and Walmart boycotts, The People's Union USA, is asking Americans to avoid buying at the restaurant chain from June 24 to June 30. A number of well-known firms have been boycotted in the first half of 2025, which was prompted by certain companies reversing their diversity, equality, and inclusion efforts. There has been a broader backlash against activities including tax evasion and labor underpayment. McDonald's facing boycott from BDS McDonald's has also been fighting a boycott since late 2023, spearheaded by the Boycott, Divestment, Sanctions (BDS) movement, which supports Palestine, for allegedly being involved in the Israeli military's operations in the Gaza Strip. Also Read: Prince William turns 43: Kate Middleton, kids celebrate his birthday with new puppies and heartfelt message Know about People's Union USA's McDonald's boycott On its website, The People's Union USA describes itself as 'a grassroots movement focused on economic resistance, corporate accountability, and real justice for the working class.' The organization is spearheading the boycotts. The group has been organizing boycotts of Amazon, Walmart, and Target since February. It has also hosted frequent 'economic blackouts,' during which it advises people to 'avoid shopping, streaming, online orders, fast food, and everything in between,' and to only do business with small, local companies. The efforts against Walmart, Amazon, and Target have garnered more attention than the McDonald's boycott. The People's Union USA's founder, John Schwarz claimed that a 'permanent boycott' of these companies would allow them to experience 'the full power of the people.' The People's Union USA posted a list of their main issues against each targeted corporation on its website earlier this year. The majority of the grievances were on general monopolistic behavior, labor conditions, and tax dodging. McDonald's was included for 'tax avoidance and known lobbying against wage increases,' which have led to serious backlash of the firm in recent years. In addition to an Independence Day boycott, the People's Union USA intends to launch a month-long boycott of Home Depot, Amazon, and Starbucks. in July A boycott of McDonald's, Walmart, and Lowe's is scheduled for August, according to Schwarz.
