Trump's Tariffs Cause US Price Hikes, Shortages

 

President Trump's trade war with China is causing significant disruptions to US consumers. Tariffs on Chinese imports have increased dramatically, leading to a sharp drop in imports – as much as 60% according to some estimates. This is resulting in higher prices and anticipated shortages of various goods....

DOJ Demands Google Divest Ad Businesses

 

The Justice Department is pushing for Google to divest two digital advertising businesses, Ad Exchange and its publisher ad server, following a federal judge's ruling that Google holds an illegal monopoly. The DOJ argues this is necessary to restore competition. Google, however, contends the proposed remedies are excessive and...

Rivian Cuts 2025 Targets Amidst Economic Uncertainty

 

Rivian Automotive lowered its 2025 delivery target to 40,000-46,000 vehicles and increased capital expenditure guidance to $1.8-$1.9 billion, citing global economic uncertainty and trade impacts. Despite this, the company maintained its expectation of achieving a modest positive gross profit for the year. Q1 results exceeded expectations, reporting a...

Rite Aid Closes All NY Stores After Bankruptcy Filing

 

Rite Aid, facing long-standing financial difficulties, including lawsuits and post-pandemic theft, filed for bankruptcy for the second time in two years. The company is closing all its remaining 178 New York stores, impacting employees and customers. Rite Aid will pursue a sale of its assets and work to...

DoorDash Acquires Deliveroo in $3.29 Billion Deal

 

DoorDash is acquiring its UK rival Deliveroo for approximately $3.29 billion, gaining access to nine new European markets. The deal offers a 44% premium over Deliveroo's April 4th share price and combines their user bases, reaching 50 million monthly active users across 40 countries. This acquisition comes as...

DoorDash Acquires SevenRooms, Misses Revenue Expectations

 

DoorDash announced a $1.2 billion acquisition of SevenRooms, a restaurant booking platform, and reported first-quarter revenue slightly below expectations at $3.03 billion versus the expected $3.09 billion. Earnings per share met expectations at 44 cents. Shares fell 4% following the announcement. The company also revealed a separate...

Palantir Disappoints Investors Despite Raised Outlook

 

Palantir Technologies (PLTR) reported better-than-expected first-quarter revenue ($884 million, up 39% year-over-year) but in-line earnings, disappointing investors. Shares dropped over 9% in after-hours trading despite a raised full-year outlook. The stock, previously boosted by AI optimism, may be forming a double top pattern, with key support levels at...

DoorDash Acquires Deliveroo in $3.9 Billion Deal

 

DoorDash, an American food delivery company, will acquire its British competitor Deliveroo for £2.9 billion ($3.9 billion). The deal, valued at 180 pence per share, represents a 44% premium on Deliveroo's April 4th closing price. Deliveroo's board unanimously approved the offer, which DoorDash states is final unless a...

Trump Celebrates Small Businesses, Announces National Week

 

President Trump proclaimed May 4-10, 2025, as National Small Business Week, celebrating the vital role of small businesses in the American economy. He highlighted the challenges faced by small businesses, including inflation and unfair trade practices. His administration's actions, including targeted tariffs and regulatory cuts, aim to support...

Ford Cuts Profit Forecast Amid Trump's Tariffs

 

Ford anticipates a $1.5 billion hit to its 2025 operating profits due to Donald Trump's tariffs, prompting the company to withdraw its previous financial guidance. The carmaker cited supply chain disruptions and uncertainty surrounding the levies as major concerns. General Motors also lowered its earnings guidance last week...