Microsoft hikes Xbox prices amid rising costs

 

Microsoft is raising prices on its Xbox consoles, controllers, and games in the US and Canada. The Xbox Series S will cost $379.99 (up $80), the Series X $599.99 (up $100), and new first-party games $79 (up $10). Microsoft cites "market conditions" and rising development costs, indirectly referencing...

China Reviews US Trade Negotiation Overture

 

China is reviewing US offers to restart trade negotiations, following recent outreach from senior US officials. While considering the proposal, China insists the US must remove all unilateral tariffs, viewing their continued presence as a lack of sincerity. The US has imposed 145% tariffs on Chinese goods, met...

Tech Stocks Surge, Driving S&P 500 Higher

 

The S&P 500 rallied for its eighth consecutive day, up 0.6%, boosted by strong performances from Microsoft and Meta. Microsoft's strong cloud and AI results sent its shares soaring 7.6%. However, negative forward guidance from Eli Lilly, Qualcomm, and Becton Dickinson led to share drops. Carrier Global...

Auto Tariffs: Prices to Rise Despite Trump's Softening

 

President Trump's softened automotive tariffs will ease price increases but not prevent them entirely. Experts predict rising car prices, especially for models with high percentages of imported parts. Domestically-focused brands like Tesla are expected to be less affected, while those with a high percentage of imported parts, such as...

Trump's Tariff Easing: Car Prices Still To Rise

 

President Trump's easing of automotive tariffs offers temporary relief, but car prices are still expected to rise. Expert Usha Haley notes that most cars rely heavily on imported parts, making them vulnerable despite the adjustment. Only vehicles with a high percentage of USMCA-compliant, domestically sourced parts are likely...

Apple Q2 Earnings Beat Expectations, But Services and China Sales Disappoint

 

Apple's fiscal second-quarter earnings beat revenue expectations at $95.36 billion, exceeding analyst predictions. However, the Services unit and Greater China sales fell short of forecasts, causing a more than 3% stock drop in after-hours trading. CEO Tim Cook will address investor concerns regarding manufacturing shifts from China to India,...

Xbox Prices Soar Amidst Global Market Uncertainty

 

Microsoft has increased Xbox prices globally, citing rising development costs and market conditions. The price hikes vary by region, with the Xbox Series X seeing the most significant increases in the US ($100-$130). Experts attribute the price rise to various factors, including US tariffs, inflation, and exchange rate...

Amazon Beats Q1 Earnings, Misses Q2 Expectations

 

Amazon exceeded Q1 earnings expectations, reporting $155.67 billion in sales and $1.59 EPS, surpassing analyst predictions. However, Q2 guidance fell short of Wall Street's projections, forecasting $13.0 billion to $17.5 billion in operating income compared to the expected $17.82 billion. Amazon's stock initially dropped 5% in after-hours...

EU-US Trade Talks: Avoiding a Transatlantic War

 

The EU is in trade negotiations with the US to avoid a transatlantic trade war. EU Trade Commissioner Maroš Šefčovič stated that the EU aims to increase US goods purchases by €50 billion to address the trade deficit. While progress has been made, the EU refuses to accept the...

Kohl's CEO Fired for Conflict of Interest

 

Kohl's Corp. fired CEO Ashley Buchanan for cause, citing undisclosed conflicts of interest involving vendor transactions and a consulting agreement with an individual he had a personal relationship with. Buchanan must forfeit equity awards and reimburse Kohl's $2.5 million. Michael Bender, former Eyemart Express CEO, is the interim...