Author: Jack Mulligan

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,…

Tesla Lowers Financing Rate to 1.99% Amid Declining Demand Tesla has rolled out a 1.99% financing rate for six-year loans on its long-range, all-wheel-drive Model Y. The price cut marks a significant shift for the electric vehicle maker as it faces declining demand and increased competition in the global EV market. The new financing offer applies to the Model Y, which recently underwent a refresh and was priced at $48,990 for the long-range version. Challenges Amidst Fresh Model Y Release Despite the refresh, Tesla has faced challenges since the Model Y’s release, including a steep 25% stock drop. The company…

Poland’s consumer prices rose by 4.2% year-on-year (YoY) in April, a decrease from the 4.9% YoY rise seen in March. This reading was 0.1 percentage point below both our forecast and market consensus. The most significant price increases came in the food and non-alcoholic beverages sector, which rose by 5.3% YoY, and energy prices, which increased by 13.0% YoY. However, fuel prices saw a notable decline of 8.3% YoY. Based on these trends, we estimate core inflation eased to 3.4-3.5% YoY in April, compared to 3.6% in March. Factors Contributing to the Decline in Inflation The drop in inflation can…

Canada’s trade deficit narrowed to C$506 million ($366.34 million) in March, surprising analysts who had expected a widening of the deficit. The reduction came as imports fell at a faster rate than exports, despite ongoing trade tensions between Canada and the U.S. Impact of Retaliatory Tariffs Imports of goods dropped by 1.5% in March, largely due to a 2.9% slump in shipments from the United States. This decline followed Canada’s imposition of retaliatory tariffs on U.S. goods, responding to President Trump’s 25% tariff on Canadian steel and aluminum introduced on March 12. As a result, exports to the United States…

The Taiwan dollar led a rally in Asia-Pacific currencies on Monday as the U.S. dollar weakened across the region. Taiwan’s currency continued to rise, hitting three-year highs of 28.93, appreciating 5.77% against the greenback. Key Currency Movements The offshore Chinese yuan strengthened 0.21% to 7.196, marking its strongest level since November 2024, while the onshore yuan traded flat. Other regional currencies also saw gains, with the Australian dollar appreciating 0.62% to 0.648, and the Singapore dollar gaining 0.62% to 1.289 after the ruling People’s Action Party secured a strong mandate. Japanese Yen and Indian Rupee Strengthen The Japanese yen, which…

Proposed Cuts Focus on Domestic Spending and Defense U.S. President Donald Trump’s administration proposed a $163 billion cut to the federal budget on Friday, outlining significant reductions in education, housing, and other domestic programs. The proposal aims to reduce non-defense discretionary spending by 23%, bringing it to the lowest level since 2017. At the same time, it seeks to increase spending on defense and border security, including a nearly 65% boost in homeland security funding from 2025 levels. Criticism and Political Backlash The budget proposal has drawn sharp criticism from both Democratic and Republican lawmakers. Congressional Democrats have condemned the…

Eli Lilly Awaits U.S. Government Decision on Tariffs Eli Lilly (LLY) is among the large-cap pharmaceutical companies closely watching the Trump administration’s stance on tariffs in the industry. The U.S. Department of Commerce is investigating potential national security threats posed by overseas drug manufacturing, and Eli Lilly CEO David Ricks has recently met with President Trump to discuss the matter. The company is actively planning for potential tariffs and how they could affect their operations in 2025. Limited Immediate Impact from Tariffs, Says CFO During a conversation with Yahoo Finance, Eli Lilly’s CFO, Lucas Montarce, explained that while the situation…