Investing.com -- U.S. President Donald Trump declared an upcoming increase in tariffs on steel imports, doubling down on his trade war strategy. The tariffs are set to jump from 25% to 50%, a move aimed at bolstering the American steel industry. This announcement was made during a Pennsylvania rally, where Trump reiterated his commitment to further securing the U.S. steel sector.
The tariff hike is designed to support the Nippon-United States Steel (NYSE: X) deal, which... (continue reading...)
Investing.com -- Hims Hers Health Inc (NYSE: HIMS), a telehealth firm known for offering consumer-focused digital healthcare, is reducing its headcount by more than 4% as part of a pivot in its business strategy, according to Bloomberg. The decision impacts 68 employees across multiple divisions of the San Francisco-based company, which employs over 1,600 staff.
The layoffs come as Hims moves away from leveraging regulatory loopholes that allowed it to sell cheaper,... (continue reading...)
Investing.com -- The California State Senate has initiated an investigation into Paramount, following allegations that the network may have breached state laws pertaining to bribery and unfair competition. The probe was reported by Semafor on Friday.
The investigation was triggered by reports of Paramount’s offer of $15 million to President Donald Trump’s 2024 campaign. This was purportedly to settle a lawsuit that was brought against CBS over an edited interview with... (continue reading...)
Investing.com -- Major averages, including the S&P 500, faced a downturn on Friday, falling 1% in response to reports of the US planning to expand technology sanctions against China. The proposed measures aim to target subsidiaries of Chinese companies currently under US restrictions, signaling an escalation in the ongoing tensions between the two economic powerhouses.
The sell-off in the markets was primarily driven by news from Bloomberg indicating that the Trump... (continue reading...)
Investing.com -- Citi has added Knight-Swift Transportation to its catalyst watch list, citing potential upside to second-half and full-year 2025 earnings as industry conditions evolve.
“While economic disruptions and tariff uncertainty during 2Q25 are likely to keep current-quarter results within the company’s guidance range of $0.30–$0.38 in EPS, we see potential upside to 2H25 and full-year earnings,” Citi analysts wrote in a note.
The bank emphasized Knight-Swift’s... (continue reading...)
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