Trump Threatens 250% Tariffs on Pharmaceuticals

 

President Trump announced potential pharmaceutical tariffs reaching 250%, initially starting with a "small tariff" escalating to 150% then 250% within a year and a half. This follows an April Section 232 investigation into pharmaceutical imports' national security impact. The aim is to boost domestic drug manufacturing. The...

Murdoch's New York Post Expands to Los Angeles

 

News Corp plans to launch The California Post, a daily tabloid in Los Angeles, next year. This move by Rupert Murdoch aims to replicate the New York Post's success, leveraging its high circulation and online readership. The California Post will compete directly with the Los Angeles Times, currently enjoying...

Yum Brands Misses Q2 Expectations, CEO to Retire

 

Yum Brands' Q2 earnings and revenue missed analyst expectations, primarily due to declining US same-store sales at Pizza Hut and KFC. While overall net sales climbed 10% to $1.93 billion, and same-store sales rose 2%, KFC's US sales dropped 5%, and Pizza Hut's US sales also fell...

TSMC Takes Legal Action Against Trade Secret Leak

 

Taiwan Semiconductor Manufacturing Company (TSMC) announced it discovered unauthorized activities leading to potential trade secret leaks. Disciplinary actions and legal proceedings have been initiated against involved personnel. TSMC emphasizes its zero-tolerance policy for such violations. The leak reportedly involves information on 2-nanometer chip development, a cutting-edge technology....

Pfizer Raises Profit Outlook Despite Trump's Pressure

 

Pfizer raised its full-year adjusted profit guidance to $2.90-$3.10 per share, exceeding Wall Street expectations. Second-quarter earnings per share reached 78 cents (adjusted), surpassing the anticipated 58 cents, with revenue hitting $14.65 billion. This positive performance follows cost-cutting measures and despite President Trump's pressure to lower drug prices...

Cannabis Company Overhauls Practices After Immigration Raid

 

A July 10th immigration raid at Glass House Farms, a major California cannabis company, resulted in one death, over 360 detentions (including minors), and widespread disruption. Following the raid, Glass House terminated its contractors, implemented stricter labor practices, including document verification and consulting with a former ICE director, and...

Palantir CEO Dismisses Elite Colleges, Celebrates 'Blue Collar' Tech Success

 

Palantir CEO Alex Karp downplayed the importance of elite education during the company's earnings call, boasting about the contributions of non-college-educated employees using their software. Karp stated Palantir creates its own meritocracy, valuing practical skills over academic credentials, echoing similar sentiments expressed by Vice President JD Vance. This...

Ship Owners Sue Builder After Bridge Crash

 

The owners of the cargo ship Dali, which crashed into the Francis Scott Key Bridge in Baltimore last year, are suing the ship's builder, Hyundai Heavy Industries. The lawsuit alleges a defective switchboard caused a power outage, leading to the crash that killed six and caused over $100 million...

BP's Huge Oil Discovery Fuels Fossil Fuel Shift

 

BP announced its largest oil and gas discovery in 25 years, a significant find in Brazil's Santos basin. The 500-meter area of oil and gas at the Bumerangue block marks a major success for BP's exploration team and could significantly boost crude oil production. This discovery comes as BP...

American Eagle Ad Campaign Sparks Plagiarism Controversy

 

American Eagle Outfitters' ad campaign featuring Sydney Sweeney has sparked controversy. President Trump praised the ad, boosting its popularity and American Eagle's stock. However, a veteran creative director alleges the campaign copied his 2009 Hudson Jeans ad featuring Georgia May Jagger. The similarities involve a 'genes'/'jeans' pun...