Author: Jack Mulligan

Fed Keeps Rates Steady, Avoids September Guidance U.S. stocks ended mixed on Wednesday following the Federal Reserve’s decision to maintain interest rates. The central bank acknowledged moderate economic growth and left room for future policy adjustments, but gave no clear signals about a potential rate cut in September. While the decision to hold was expected, two Fed governors opposed it, favoring an immediate cut. During the press conference, Chair Jerome Powell emphasized that any future rate decisions will depend on incoming data. He noted that it remains too early to assess the full impact of ongoing trade policies on economic…

Maggie Gauger to Lead Brand Amid Sales Decline Athleta, Gap Inc.’s women-focused activewear brand, has appointed Maggie Gauger — Nike’s head of North America women’s business — as its new CEO. Gauger, who spent over two decades at Nike, becomes Athleta’s third chief executive in just two years. She replaces Chris Blakeslee, who will stay on temporarily to ensure a smooth leadership transition. Gauger steps in during a pivotal period for Athleta, which has seen a series of quarterly sales declines despite recent partnerships with high-profile athletes and new product lines. The brand’s performance has weighed heavily on Gap’s overall…

Finance Minister Pushes for Copper Deal Inclusion Chile’s Finance Minister Mario Marcel said Monday that copper tariffs will be a key topic in this week’s U.S.-Chile trade negotiations in Washington. Speaking on Chilean radio, Marcel emphasized the need for copper to be part of a broader trade agreement, rather than a separate issue. This comes as President Donald Trump’s administration prepares to enforce 50% tariffs on copper imports starting August 1. Chile, the world’s largest producer of copper and the top supplier of refined copper to the U.S., fears the tariffs could significantly impact its trade flow. Although the majority…

Stronger Risk Sentiment Pressures Gold Prices Gold futures opened Monday at $3,321.10 per ounce, slipping 0.4% from Friday’s close and extending a pullback from last week’s high of $3,441. Market optimism around recent global trade developments appears to be softening investor demand for safe-haven assets like gold. The dip follows reports of a new 15% tariff agreement between the U.S. and the European Union, as well as speculation that Washington and Beijing may extend their tariff truce by another 90 days. These moves suggest greater global economic stability, historically linked to a decline in gold purchases as investors shift toward…

Boosted Price Range Signals Strong Demand for Tech IPOs Figma has raised its expected IPO price range ahead of its stock market debut, now targeting a valuation of $18.8 billion. The design platform plans to raise $1.18 billion by offering nearly 37 million shares at $30 to $32 each. This move marks a notable increase from the earlier range of $25 to $28, signaling rising investor interest in high-growth tech stocks despite trade-related uncertainty. The new valuation places Figma closer to the $20 billion price tag it once commanded in a now-defunct acquisition deal with Adobe. That deal was scrapped…

July data fuels speculation of another rate hike this year Consumer inflation in Tokyo eased slightly in July but remained well above the Bank of Japan’s 2% target, sustaining pressure on the central bank to consider another interest rate hike before year-end. The Tokyo core Consumer Price Index (CPI), which excludes fresh food prices, rose 2.9% compared to the same month last year, down from June’s 3.1% increase and just below the 3.0% market forecast. The slowdown is attributed primarily to a base effect from last year’s spike in energy prices, which followed the end of government subsidies for fuel…

AI chip restrictions spark a thriving black market in Shenzhen Despite strict U.S. export controls on high-end AI chips, Nvidia processors like the H100 and A100 are quietly flowing into China — and staying operational thanks to a growing underground repair network. In Shenzhen, about a dozen boutique tech firms have carved out a lucrative niche servicing GPUs that technically shouldn’t be in the country at all. One such shop recently spun off a dedicated repair division, now handling up to 500 graphics units monthly. This surge in demand highlights the enormous appetite for functional AI hardware and the resourcefulness…

Double-Digit Price Hike Hits Popular Brands Hershey confirmed it is raising prices across its candy portfolio, citing surging cocoa costs as the primary driver. The increase, described as a “low double-digit” hike, will impact iconic products such as KitKat, Reese’s, and Hershey Kisses. The company emphasized that the decision is not linked to tariffs or trade policies but is a direct response to the unprecedented rise in raw material prices. The price adjustment will roll out over approximately 90 days, though the timeline may differ depending on the retailer. Hershey owns more than 90 brands and has built a global…

New Projects Add Over 4.5 GW to Capacity Pipeline OpenAI is accelerating its global data center strategy with a newly announced 4.5 gigawatt expansion in collaboration with Oracle, adding to an 800 MW facility already underway in Abilene, Texas. The initiative, operating under the “Stargate” brand, reflects OpenAI’s growing need for computing power to support its next-generation AI models, such as GPT-5. Despite setbacks with SoftBank and delays in other projects, OpenAI remains committed to aggressive infrastructure development. In total, the Stargate initiative now includes four publicly known sites: the original Abilene facility, the new 4.5 GW U.S. expansion (currently…

Growth Target at Risk Amid Weak Consumer Demand, Tariff Drag China may need to ramp up fiscal stimulus in the coming months to meet its 5% economic growth goal for 2025, according to Barclays analysts. Although a temporary easing in US-China trade tensions has brought short-term relief, structural challenges continue to weigh on the country’s recovery. Second-quarter data showed GDP grew by 5.2%, slightly beating forecasts but slipping from 5.4% in the previous quarter. Exports showed surprising resilience despite tariff pressures, but the broader economic picture remains clouded by weak domestic consumption and a prolonged real estate slump. Beijing’s Policy…