Author: Jack Mulligan

Nike (NKE.N) announced on Wednesday that it will be raising prices on select products starting next week, with price hikes ranging from $2 to $10 on apparel and equipment. The price increases will apply to products for adults, including footwear, and vary based on the price range of the items. Price Increases and Product Categories For shoes priced above $150, Nike will increase prices by up to $10, while those priced between $100 and $150 will see a $5 increase. Products priced below $100 will not experience a price hike. Nike’s iconic Air Force 1 shoes, which are priced at…

Apple has approved the return of Epic Games’ popular title, Fortnite, to the U.S. App Store after a five-year absence. The approval follows a lengthy legal battle that started in 2020 when Epic bypassed Apple’s payment system, sparking a series of lawsuits. The Legal Battle and Fortnite’s Return Fortnite was removed from the App Store in 2020 after Epic Games introduced a direct payment system in the game, bypassing Apple’s 30% commission on in-app purchases. This move led to a major legal dispute between the two companies, culminating in a court ruling last month that Apple could no longer charge…

China’s economy showed signs of slowing in April, as the impacts of President Donald Trump’s trade war were felt across key sectors. Retail sales, property, and investment came in weaker than economists had forecast, highlighting the toll of tariffs and the overall uncertainty affecting the economy. Retail Sales and Consumer Sentiment Chinese consumers have been holding back due to the prolonged downturn in the housing market, which significantly impacts household wealth. Retail sales in April grew by just 5.1%, falling short of the expected 6% increase. The country’s consumer price index also saw a slight decline of 0.1% in April,…

Federal Reserve Chair Jerome Powell has consistently warned about the “unsustainable” fiscal path of the U.S. government since becoming the central bank’s head nearly seven years ago. His concerns, especially regarding large fiscal deficits and rising debt, remain a focal point in his economic commentary. Powell’s Repeated Warnings Throughout his tenure, Powell has emphasized that the nation’s fiscal policy is a significant challenge. Despite acknowledging that the Federal Reserve does not directly set fiscal policy, he has repeatedly stated that fiscal issues will have a long-term impact on the U.S. economy. In September 2018, Powell remarked, “We have been on…

U.S. consumers are becoming increasingly worried that tariffs will lead to higher inflation, according to a University of Michigan survey released Friday. Survey Results and Consumer Sentiment The index of consumer sentiment dropped to 50.8, down from 52.2 in April, in the preliminary reading for May. This is the second-lowest reading on record, behind June 2022. Inflation Expectations Rise The outlook for price changes also moved in the wrong direction. Year-ahead inflation expectations rose to 7.3% from 6.5% last month, while long-term inflation expectations ticked up to 4.6% from 4.4%. The Impact of Trade Policy and Tariffs However, the majority…

President Donald Trump announced on Thursday that India has proposed eliminating tariffs on U.S. goods as part of a potential trade deal. This offer, if finalized, could mark a significant breakthrough with India, a key U.S. trading partner. India’s High Tariffs and the Proposed Deal Trump highlighted that India is one of the highest tariff nations globally, making it difficult for U.S. companies to sell goods there. “India is the highest — one of the highest tariff nations in the world. It’s very hard to sell into India, and they’ve offered us a deal where, basically, they’re willing to literally…

Saudi Aramco announced on Wednesday that it had signed 34 preliminary deals with major U.S. companies, potentially worth up to $90 billion, aiming to deepen its commercial ties with the United States. The announcement was made following President Donald Trump’s visit to the kingdom, highlighting the strengthening of U.S.-Saudi economic relations. Details of the Agreements The agreements were primarily memorandums of understanding (MOUs), many of which did not include specific monetary values. Some of these deals had been previously announced, such as the agreement to purchase 1.2 million tonnes of liquefied natural gas (LNG) per year for a 20-year term…

Tariff Impact on Honda’s Bottom Line Honda has become the latest automaker to face a massive profit hit from President Trump’s tariffs on foreign automobiles and auto parts. In its March 2025 fiscal year report, the Japanese car manufacturer revealed that the tariffs would decrease its FY 2026 operating profit by 650 million yen (approximately $4.4 billion). However, Honda indicated that mitigation efforts would reduce the tariff impact by 200 billion yen, bringing its net loss to around $3.05 billion. Massive Drop in Operating Profit As a result of the tariffs and additional currency headwinds, Honda forecast a sharp reduction…

Fox One’s Launch Plans Fox Corp. has officially announced the name and timing for its upcoming direct-to-consumer streaming service, Fox One. The company plans to launch the service ahead of the National Football League (NFL) season later this year. Fox CEO Lachlan Murdoch revealed the name and launch timing during a quarterly earnings call on Monday, though the exact launch date and pricing details will be disclosed in the coming months. Pricing Strategy for Fox One Although specific pricing details were not shared, Murdoch stated that the cost of the new streaming service would align with “wholesale pricing,” meaning it…

President Donald Trump on Friday floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting among top U.S. and Chinese trade officials as he looks to deescalate the trade war between the world’s two largest economies. Top U.S. officials are set to meet with a high-level Chinese delegation in Switzerland in the first major talks between the nations since Trump sparked a trade war with stiff tariffs on imports. “80% Tariff on China seems right! Up to Scott B,” Trump wrote on his social media account on Friday morning, referring to Scott Bessent, his Treasury chief,…