Ford offers customers employee pricing amid tariff fearsThe Ford Motor Company Windsor Engine Plant is shown on April 1, 2025 in Windsor, Canada. Bill Pugliano | Getty Images News | Getty ImagesCiting a “changing economy” and its position as the the No. 1 U.S. producer of cars and trucks, Ford said it’s putting most of its vehicles on sale.The automaker is offering employee pricing to all U.S. customers from April 3 to June 2.The promotion excludes the some large vehicles like the Ford Raptor, the 2025 Expedition and Navigator SUVs and Super Duty trucks.”We understand that these are uncertain times for…
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A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | ReutersEight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices.The Ice Brent contract with June delivery was trading at $70.50 per barrel at 1:32 p.m. London time (8:32 a.m. ET), down 5.94% from the Wednesday close. The front-month May Nymex WTI contract was at $67.11 per barrel, 6.41% lower.Saudi Arabia,…
Syria accused Israel on Thursday of trying to destabilize the country after intense airstrikes on military bases and a deadly raid in southern Syria, part of a deepening incursion that is sharply raising tensions in the region.Since the Assad regime was ousted from Syria last year in a rapid rebel offensive, Israel has carried out hundreds of airstrikes and has deployed forces into southern Syria, in what it says are necessary security operations against potentially hostile forces. Israel’s latest ground incursion, which appeared to be one of the deepest and deadliest into Syria so far, sparked further outrage among some…
Check out the companies making headlines before the bell. Lululemon – Shares tumbled more than 12% on the heels of President Donald Trump’s new wide-ranging tariffs . According to an SEC filing , the company sourced 40% of its products from Vietnam in 2024 – a country that was slammed with a 46% tariff. Almost 90% of Lululemon’s products are made in Vietnam, Cambodia, Sri Lanka, Indonesia and Bangladesh. Nike — Shares slumped about 9% after the United States lifted tariffs Wednesday. Nike manufactures roughly half its footwear in China and Vietnam, which will be subject to tariff rates of…
JPMorgan is less certain on the bank sector after the United States lifted tariffs on all imports entering the country. In a Thursday note, JPMorgan analyst Vivek Juneja cut his earnings estimates for U.S. banks, and warned that “there is potential for further cuts,” due to President Donald Trump’s tariff changes Wednesday. While the regulatory environment remains positive under the current administration, easing or lifting those rules will take time to play out, Juneja said. “We expect the tariffs announcement will increase concerns about the impact on the economy and pressure markets overall … Banks would be impacted by these…
Citi believes that two off-price retailers could benefit from the new tariffs unveiled by President Donald Trump: TJX and Ross Stores . Analyst Paul Lejuez upgraded both stocks to buy from neutral. He raised his price target on TJX to $140 from $128, implying upside of 12%. He maintained his Ross target of $146, which signals a gain of more than 10%. “Tariffs are likely to create significant disruption in the mkt, greatly increasing the availability of product available to off-pricers at attractive prices,” he wrote. “We view off-price as defensively positioned in the near-term, but well-positioned for continued growth…
The Stellantis Windsor Assembly Plant in Windsor, Ontario, Canada, on Tuesday, Feb. 4, 2025.Bloomberg | Bloomberg | Getty ImagesShares of some of the world’s biggest automakers appeared surprisingly resilient on Thursday, even after U.S. President Donald Trump’s 25% tariffs on foreign auto imports came into effect.Europe’s Stoxx Autos index was last seen trading 1.8% lower, paring losses after falling more than 2% shortly after the opening bell.Germany’s Volkswagen, Mercedes-Benz Group and BMW were all trading around 2% lower at 11:45 a.m. London time (6:45 a.m. ET), while Milan-listed Stellantis dipped 1%. Shares of Sweden’s Volvo Cars, however, tumbled more than…
Zach Perret, CEO and co-founder of Plaid, speaks during the Silicon Slopes Tech Summit in Salt Lake City, Utah, U.S., on Jan. 31, 2020.George Frey | Bloomberg via Getty ImagesPlaid on Thursday announced a new funding round that values the fintech startup at $6 billion, down from $13.4 billion in 2021. The new funding will give some employees a way to cash out.The $575 million round was led by a batch of new investors including Franklin Templeton, Fidelity and BlackRock. Existing backers NEA and Ribbit Capital also participated, Plaid said.Plaid CEO Zach Perret said the startup saw a “substantial” growth…
Pharma companies breathe sigh of relief after Trump tariffs — for nowPharmaceutical companies breathed a sigh of relief Wednesday after U.S. President Donald Trump revealed that they would not be subject to reciprocal tariffs — but that reprieve could prove fleeting as the White House moves ahead with plans for the sector.The Trump administration is considering launching a so-called 232 investigation into pharmaceuticals, among other industries, which could lead to import duties under the Trade Expansion Act, Bloomberg cited a senior administration official as saying on Wednesday.The White House did not immediately respond to CNBC’s request for confirmation.”The pharmaceutical companies…
New York City Mayor Eric Adams holds a press briefing after former Governor Andrew Cuomo enters the mayoral race on March 03, 2025 in New York United States.Selcuk Acar | Anadolu | Getty ImagesFresh off the dissolution of his criminal corruption case, New York City Mayor Eric Adams says he’s back to focusing on working for New Yorkers. He just plans to do it with another party.The embattled Democrat announced Thursday that he will run instead for mayor as an independent, leaving Andrew Cuomo, who resigned as governor of New York amid a sexual harassment controversy, the primary contender at…
