Author: Jack Mulligan

United Airlines Maintains Outlook Despite Economic Concerns United Airlines kept its full-year forecast intact on Tuesday but offered a secondary projection should the U.S. slip into a recession. The airline said the economic outlook is “impossible to predict” but expressed confidence in turning a profit regardless of the macroeconomic environment. Revenue and Profits Show Mixed Results United Airlines reported a profit of $387 million, or $1.16 per share, for the first quarter, reversing a loss of $124 million, or 38 cents per share, from the previous year. Adjusted earnings per share of 91 cents beat Wall Street expectations, which had…

First Quarter Earnings and Market Volatility Impact Citigroup reported a 21% increase in net income for the first quarter, reaching $4.1 billion, or $1.96 per share, surpassing Wall Street estimates. The bank’s strong performance was driven by a 23% jump in stock trading revenue, as clients adjusted portfolios amid heightened market uncertainty fueled by U.S. President Donald Trump’s tariffs and the rise of new technologies, such as DeepSeek’s AI model. Concerns Over Tariffs and Economic Outlook Despite strong earnings, Citigroup’s CEO Jane Fraser expressed concerns about the potential fallout from ongoing tariff policies, which have clouded the economic outlook. She…

What Is the First-Quarter Estimated Tax Deadline? As the April 15 deadline for tax filings approaches, it’s crucial to remember another important date: the first-quarter estimated tax payment deadline for 2025. If you’re self-employed or earn income without tax withholdings, this payment is mandatory to avoid penalties. The first-quarter payment is due on April 15, covering income earned between January 1 and March 31. Who Needs to Make Estimated Tax Payments? Self-employed individuals, retirees, investors, and gig economy workers frequently need to make quarterly estimated tax payments. The IRS requires quarterly payments if you expect to owe at least $1,000…

Shift in Mercedes-Benz Van Strategy Mercedes-Benz announced on Friday that it will shift its focus towards midsize and large vans, discontinuing its involvement in the small van category. This change follows the Automobilwoche magazine’s report on the planned discontinuation of its Citan and T-Class models. Future Investment Strategy The company, in an emailed statement to Reuters, emphasized that this decision aligns with its “Mercedes-Benz Vans strategy ‘Growth in profitable segments’.” By optimizing its product portfolio, Mercedes-Benz aims to direct its investments toward more profitable van segments. Discontinuation of the Citan and T-Class Models According to Automobilwoche, the Citan, designed for…

Inflation saw a significant slowdown in March, according to new data, offering a glimpse of optimism for the U.S. economy. However, financial experts warn that this may be short-lived, as the impact of President Trump’s aggressive trade policies, including escalating tariffs, could drive prices higher in the coming months. March CPI Report Shows Inflation Cooling The Consumer Price Index (CPI) for March revealed that inflation cooled to an annual rate of 2.4%, down from 2.8% in February. Prices fell by 0.1% from the previous month, marking the first monthly drop since May 2020. This slowdown was largely attributed to falling…

Trump’s Tariff Plan on Pharmaceuticals to Impact Drug Manufacturing President Donald Trump has reaffirmed his plan to impose “major” tariffs on pharmaceuticals imported into the U.S. This move comes despite the temporary relief drugmakers felt last week when the sector was exempted from Trump’s original tariff round. In a recent dinner speech, Trump emphasized that the tariffs would compel pharmaceutical companies to relocate production to the U.S. in response to the high taxes on imported drugs. However, critics warn that this could harm the industry’s research and development efforts. Potential Impact on U.S. Pharma Industry Trump’s new tariff policy on…

The European Commission proposed counter-tariffs of 25% on a range of U.S. goods on Monday in response to President Donald Trump’s tariffs on steel and aluminium, a document seen by Reuters showed. The tariffs on some goods will take effect May 16, while others will be implemented later in the year on December 1, according to the document. The goods affected are wide-ranging and include items such as diamonds, eggs, dental floss, sausages, and poultry. The counter-tariffs on almonds and soybeans will take effect on December 1. EU trade chief Maros Sefcovic said earlier on Monday that the counter-tariffs would…

Japan Pushes for Lower Tariffs Amid Economic Strain Japanese Prime Minister Shigeru Ishiba addressed parliament on Monday, reaffirming Japan’s commitment to pressing U.S. President Donald Trump to reduce tariffs on Japanese goods, despite acknowledging that tangible results may take time. “The government must take all available means” to mitigate the economic damage caused by the tariffs, Ishiba said, citing potential funding support for domestic firms and measures to protect jobs as part of the government’s response. His remarks come after Trump’s decision to impose a 25% levy on auto imports and a 24% reciprocal tariff on other Japanese goods, which…

Tariffs Threaten Aerospace and Defense Industry President Donald Trump’s recent tariffs are set to raise the cost of aerospace products, including Boeing and Airbus planes, GE Aerospace engines, and other defense-related goods. This move poses a serious threat to an industry that helps reduce the U.S. trade deficit by more than $100 billion annually. Dak Hardwick, vice president of international affairs at the Aerospace Industries Association, noted, “It certainly makes things more expensive for the industry,” referring to the impact of these tariffs on major players in the aerospace sector. Industry Calls for Duty-Free Trade Provisions The Aerospace Industries Association,…

The TikTok Sale Battle Intensifies With the April 5 deadline looming for TikTok to either be sold or face a ban in the U.S., the competition to acquire the app has intensified. Amazon has now thrown its hat into the ring, sending a letter to the Trump administration expressing interest in joining the bidding war, according to sources reported by ABC News. The deadline, set by the Trump administration, was imposed on TikTok’s Chinese-owned parent company, ByteDance, amid ongoing national security concerns. Trump’s Push for a Sale President Donald Trump has consistently stated that he would prefer to keep TikTok…