Foxconn to Build Electric Vehicles for Mitsubishi

 

Foxconn, the maker of iPhones, will build electric vehicles (EVs) for Mitsubishi Motors. A Foxconn joint venture, Foxtron, will design and manufacture the EVs in Taiwan, with sales expected to begin in Australia and New Zealand during the second half of 2026. This marks Foxconn's first major EV contract,...

Toyota Profits Plummet Amidst Trump Tariffs

 

Toyota, previously boasting record profits, now forecasts a 20% operating profit decline for the fiscal year ending March. A stronger yen and President Trump's tariffs are cited as major factors. The company estimates a $1.3 billion loss from tariffs in April and May alone, with future impact difficult...

Trump Announces Major New Trade Deal

 

Former US President Donald Trump announced an upcoming press conference to unveil a "major trade deal" with a "big, and highly respected, country." While he offered no specifics, US media outlets suggest the deal is with the UK. This follows Trump's earlier imposition of tariffs on numerous trading...

Hollywood Rejects Tariffs, Wants Tax Incentives Instead

 

Hollywood studio chiefs rejected Donald Trump's proposed tariffs to combat runaway production, instead advocating for increased tax incentives in California. They argued that California's current film tax credit program, capped at $300M, is insufficient and operates as a lottery, deterring studios. They suggested expanding the program to include...

US-China Trade Talks: Tensions Rise Before Switzerland Meeting

 

Upcoming US-China trade talks in Switzerland, initiated by the Trump administration, face tension. China insists on equal dialogue and opposes US tariffs, while Trump disputes China's claim of US initiation. Trump asserts the US is no longer losing money due to trade practices, while China maintains it's merely assessing...

Trump Administration to Rescind Global Chip Restrictions

 

Nvidia's stock climbed after a Bloomberg report revealed the Trump administration intends to revoke the 'AI diffusion' chip trade restrictions. These restrictions, proposed by the Biden administration, categorized countries into tiers with varying export license requirements for advanced AI chips. The rule's May 15th implementation is now reportedly...

Ford Raises Prices on Vehicles Due to Tariffs

 

Ford increased prices on three Mexico-made models (Mustang Mach-E, Maverick, Bronco Sport) by up to $2,000 due to President Trump's tariffs. This follows Ford's projection of $2.5 billion in added costs for 2025, partially offset by cost-reduction efforts. While Ford stated the price hikes reflect usual mid-year adjustments...

UK-India Trade Deal Boosts Economic Ties

 

The UK and India have finalized a trade deal aimed at boosting bilateral trade by £25.5 billion annually by 2040. The agreement reduces tariffs on various goods, including clothing, whisky, cars, and food products, benefiting both countries' consumers and businesses. While the deal won't immediately impact prices, it's expected...

Disney+ Profit Soars After Price Hike, Password Crackdown

 

Disney reported a significant jump in Disney+ and Hulu profitability, reaching $336 million in operating income during the second fiscal quarter, compared to $47 million last year. This increase follows price hikes and a crackdown on password sharing, adding $6.99 for additional household accounts. Disney+ gained 1 million...

Disney Reports Strong Q2 Earnings, Disney+ Subscriber Growth

 

Disney reported strong Q2 2025 results, exceeding Wall Street expectations. Revenue reached $23.62 billion (up 7%), with net income at $3.28 billion. Disney+ unexpectedly added 1.4 million subscribers, boosting streaming profits significantly. The company anticipates strong growth for the fiscal year, projecting adjusted earnings per share of...