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If implemented, Americans could see prices rise across several product categories. AdvertisementBased on analyses from economists and trade experts, here are the goods that could become more expensive for Americans under Trump's tariff proposals. AdvertisementSome retailers have already announced preparations to increase prices should Trump's tariff plans go into effect. AdvertisementGold said it's unlikely Trump's tariffs would go into effect on day one or day two, and "it's tough to say right now at what point consumers would feel the impact." AdvertisementA report from centrist think tank ThirdWay said that Trump's tariff proposals analyzed eight common purchases that the US either heavily imports or is unable to produce domestically.
Persons: Donald Trump, Trump, , Mary Lovely, Lovely, There's, Joe Biden, Jonathan Gold, it's, Karoline Leavitt, Tim Boyle, Gold, Philip Daniele, Daniele, Shinji Aoyama, Henrik Elm, Elm, Taylor Rogers Organizations: Trade, Service, Peterson Institute for International Economics, Trump, Consumers, National Retail Federation, Retailers, Bank of America, Columbia, Washington Post, Electronics, Consumer Technology Association, CTA, Honda, General Motors, Ford, Inter Ikea —, Ikea, Reuters, NPR, International Trade Commission, Republican National Committee Locations: China, Mexico, Europe
Economists say his tariff proposals could spike inflation as companies tend to pass costs on to consumers. Some companies have already said Trump's proposals would force them to increase prices. AdvertisementSome executives have warned that price hikes are on the way if President-elect Donald Trump's tariff plans go into effect. Executives have told analysts on earnings calls that it would be difficult to maintain current prices under Trump's broad tariffs. AdvertisementBelow are the companies that are warning of price increases if Trump's tariff proposals are implemented.
Persons: Donald Trump, , Donald Trump's, Trump, Tarang Amin, Amin, AutoZone Philip Daniele, Daniele, Tim Boyle, Boyle, Stanley Black, Decker Donald Allan, Decker, Allan, Steve Madden, Edward Rosenfeld Organizations: Service, Federal Reserve, Columbia, Washington Post, Trump Locations: China, Columbia, Mexico
Starboard Value has taken a $1 billion stake in drugmaker Pfizer. The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors. AdvertisementPharmaceuticals giant Pfizer got a wake up call Sunday evening when one of Wall Street's most feared activist investors revealed a stake in the company. AdvertisementPfizer, with a market cap north of $160 billion, is among the largest companies Starboard's Smith has ever targeted. With less than a 10% stake Smith replaced the entire 12-person board and assumed the role of chairman.
Persons: Jeff Smith, , Smith, Starboard's Smith, Ian Read, Frank D'Amelio, Ken Squire, Paul Singer, Elliott, Carl Icahn, Dan Loeb, Peter Feld, Olive Garden's, Marc Benioff, Brontë Wittpenn, Brontë, Squire, they're, Albert Bourla, Bourla, wagered Organizations: Pfizer, Service, Pharmaceuticals, 13D, Investor, Lazard, Elliott Management, Icahn Enterprises, Cowen Group, AOL, Darden Restaurants, Olive Garden, Longhorn, Darden, Wall, San Francisco, Getty, Smithfield Foods, Bristol, Myers Squibb, Celgene, Autodesk, Starbucks Locations: Olive Garden, Fortune, America, Olive, Washington
British tech tycoon Mike Lynch died from drowning, an inquest heard. Lynch and six others died after the superyacht Bayesian sank off the coast of Sicily in August. Lynch founded software company Autonomy in 1996 and sold it to HP for more than $11 billion in 2011. AdvertisementTech tycoon Mike Lynch died from drowning after the Bayesian superyacht sank off the coast of Porticello, Sicily, an inquest heard on Friday, multiple outlets reported. Lynch, his 18-year-old daughter Hannah, and five others died after the vessel was caught in a heavy storm in August.
Persons: Mike Lynch, Lynch, , Hannah, Mike Brown, Jonathan Bloomer, Morgan Stanley, Judy, Brown, Jonathan, Judy Bloomer —, Chris Morvillo, Neda —, Recaldo Thomas, Matthew Griffiths, James Cutfield, Tim Parker Eaton Organizations: Autonomy, HP, Service, Tech, Morgan, Morgan Stanley International, Reuters, BBC Locations: Sicily, Porticello, Autonomy
In 2023, it announced it would be expanding to Kenya, with a rollout of 1.2 million electric vehicles. Around the world, transport startups are embracing electric vehicles, and those in Africa are no different. In 2023, it announced it would be expanding to Kenya, with a rollout of 1.2 million electric vehicles. Uncover , a Kenyan skincare brand, says it wants to fill this gap by providing healthy cosmetics that put African women first. ‘‘We want to be the Airbnb of vehicle rentals in Africa and ultimately the world,” Arinze says.
Persons: Chinazom Arinze, ” Arinze, , Spiro, Clement Di Roma, Simon Maina, Prince William’s, James Oatway, there's, Edwin Maina, Arinze, , Autogirl, hasn’t, she’s, , , Airbnb, Organizations: CNN, Babcock University, Getty, Reeddi Technologies, The Royal Academy of Engineering, Kenyan, Hertz, Hyundai, Lexus Locations: Nigeria, Benin, Kenya, Africa, AFP, China, Cameroon, Rwanda, Ghana
Lynch was associated with British, American and other intelligence services through his various companies, including the cyber security company he founded, Darktrace. The chef, whose body was found outside the vessel, died by drowning, the coroner said. Local prosecutor Ambrogio Cartosio said no personal effects, including computers, jewelry or Lynch’s hard drives had been recovered from the vessel. The vessel did not have a traditional black box or voyage data recorder to record navigation data or audio on the bridge. The costs of raising the ship will fall to its owner, Lynch’s widow, as is mandated by Italian maritime law.
Persons: Rome, Mike Lynch, Lynch, Thoma, David Cameron, Theresa May, ” Francesco Venuto, Hannah, Chris Morvillo, Neda, Jonathan Bloomer, Judy, Recaldo Thomas, Bloomer, Lynch’s, Angela Bacares, James Cutfield, Lynch “, Morvillo, Hewlett Packard, Raffaele Cammarano, Stephen Chamberlain —, Darktrace —, Cutfield, Chamberlain, Ambrogio Cartosio Organizations: Rome CNN —, CNN, Italian Prosecutors, Thoma Bravo, Revtom, Fire Brigade, Civil Protection Agency, Hewlett, Autonomy, Local, Italian Locations: Sicily, British, Chicago, Russia, China, American, Italy
To make the European market unattractive for Chinese EV exporters, tariffs have to be as high as 50%, according to research group Rhodium. watch nowHe pointed out that the EU's tariffs were not as severe as those announced by North America because European and Chinese original equipment manufacturers are heavily interconnected. "It is a delicate balance to promote domestic European production without severely impacting their Chinese operations," McCabe said. Chinese EV makers are coming up with newer, cheaper offerings even as the EU strives to curtail imports via tariffs. At a conference in May this year, Chinese behemoth BYD announced its Dolphin model to the European market at less than $21,550.
Persons: Joseph McCabe, McCabe, behemoth BYD Organizations: Auto, Visual China, Getty, SAIC, EV, AutoForecast Solutions, U.S, Canada, EU, United Kingdom ., Tesla, Volkswagen Locations: Shenyang, Liaoning Province of China, Europe, BYD, North America, United Kingdom, China
Mike Lynch, 59, is the founder of enterprise software firm Autonomy. Dominic Lipinski | PA Images | Getty ImagesDuring the course of the trial, Lynch took the stand in his own defense. He became a key voice supporting the U.K. technology industry, backing key names like cybersecurity firm Darktrace and legal tech firm Luminance. Mike Lynch, founder of software firm Autonomy, at the company's headquarters in, Cambridge, U.K., Aug. 24, 2000. Bryn Colton | Hulton Archive | Getty Images"I keep rare breeds," Lynch told LeadersIn in a 2016 interview.
Persons: Mike Lynch, Hewlett Packard, Chris Ratcliffe, Lynch, , Angela Bacares —, Bacares, Hannah, Bill Gates, Graham Barclay, David Tabizel, Richard Gaunt, Thomas Bayes, Dominic Lipinski, Autonomy's, Stephen Chamberlain, Sushovan Hussain, Hussain, Thoma, Bryn, LeadersIn Organizations: Autonomy, Hewlett, Bloomberg, Getty, LONDON, CNBC, Sky News, Bancroft's, British Industry, University of Cambridge, Lynett Systems, Cambridge, South Yorkshire Police, Cambridge Neurodynamics, HP, U.S, Packard, Prosecutors, Capital Management, Thoma Bravo, BBC, Council for Science, Technology, Forbes, East Anglian Times, The Times Locations: Sicily, U.S, Porticello, Palermo, Italy, Ilford, East London, Chelmsford, English, Essex, Woodford Green, London, Cambridge, Britain, Suffolk, Bryn Colton, England
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAmong those missing and feared dead in the aftermath of the sinking of "Bayesian," a sailing yacht linked to British technology magnate Mike Lynch, are Lynch's attorney Christopher Morvillo and Morvillo's wife, according to a colleague. He said the news came shortly after he learned that Lynch's codefendant Chamberlain was killed, struck by a car while jogging on Saturday. Another attorney at the firm, Ayla Ronald, is reportedly among those who survived the yacht's sinking.
Persons: , Mike Lynch, Christopher Morvillo, Lynch, Gary Lincenberg, Lynch's, Stephen Chamberlain, Morvillo, Lynch's codefendant Chamberlain, Chris, Lincenberg, Chamberlain, Clifford Chance, didn't, Ayla Ronald Organizations: Service, Autonomy, Hewlett, Packard, Business Locations: Sicily, Manhattan, New York
Autodesk partners with the 2028 Los Angeles Olympics, boosting sponsorship revenue goals. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDesign and engineering software company Autodesk has become a supporting partner of the 2028 Los Angeles Olympics, in a major boost for the Games' goal of $2.5 billion in domestic sponsorship. Autodesk was named the "official design and make platform of the LA28 Olympics and Paralympic Games and Team USA," the company announced Tuesday.
Persons: , It's Organizations: Autodesk, Angeles, LA28, Service, Angeles Olympics, Games, Paralympic Games, Team USA, Business Locations: Las Vegas
AdvertisementBusiness Insider spoke with two members of the Roadmap Generation and several of the HR professionals and executives who hire and oversee them. Many members of the Roadmap Generation are trying to set themselves up for future financial success by starting and stoking their portfolios early. Ambitious young professionals are prioritizing skills development early in their careers in the hopes of finding future success. Tom WernerFor all of their clear-eyed assuredness, however, the Roadmap Generation is also open-minded and curious, older bosses said. Dhunjisha agreed and suggested there's a simple way for a company to keep its Gen Z employees long-term.
Persons: , Javi Galarce, Galarce, Z, Astad Dhunjisha, Dhunjisha, Gen Z's, Gen Z, Gen, Cassie Fields, Fields, Dia Dipasupil, Austin Curtis, Curtis, We're, Mark Pierce, Pierce, Tom Werner, Zers, Jon Hill Organizations: Service, University of Iowa, Business, Deloitte, University of Oklahoma, Wyoming Trust Locations: Texas
China is pulling ahead in the flying car industry. AdvertisementChina is leading the pack as the flying car industry tries to take off. Kellen Xie, the vice president of Chinese eVTOL company AutoFlight Group, told the Financial Times that the Civil Aviation Administration of China (CAAC) has been "quite supportive" of the growing industry. Related storiesXie told FT that CAAC regulators "work longer hours" and "are determined to actually speed up the process of bringing this new technology into reality." A month later, California-based startup Aska became the second eVTOL company to earn FAA certification, but Aska's prototype is more like an aircraft than a car.
Persons: AutoFlight, , Kellen Xie, Xie Organizations: Service, AutoFlight, Financial Times, Civil Aviation Administration of China, Federal Aviation Administration, Alef Aeronautics, FAA Locations: China, Europe, California
With interest rate uncertainty on the rise across the market, it may be time to buy stocks with a demonstrated history of low volatility. The Cboe Volatility Index — a yardstick of expected market volatility — briefly rose above 21 on Friday, its highest level since last October. The insurance stock currently has a 5-year beta of 0.54 relative to the S & P 500, and a price volatility score of 6.28. With a 5-year beta of 0.78 versus the S & P 500 and a 5-year price volatility score of 6.50, medical equipment maker Boston Scientific also turned up on the screen. Compared to the S & P 500, Merck's 5-year beta comes in at 0.39, while its 5-year price volatility scores a 6.06.
Persons: Joanne Wuensch Organizations: CNBC Pro, Boston Scientific, Citigroup, Boston, Pharmaceutical, Merck, Food, NextEra Energy Locations: UnitedHealth
2023 was a breakout year for generative AI that significantly advanced how companies build and deploy AI-powered products and experiences. Out of the many applications, Twilio selected six exceptional startups that leveraged practical generative AI applications across healthcare, hospitality, logistics, and more. The honorees demonstrated extraordinary advances toward the future of trusted communications and customer engagement and proved the real promise of generative AI. By layering AI technology on top of legacy systems, FleetWorks is able to automate the most time-consuming part of logistics management: live order issue handling. Learn how to transform your communication channels with Twilio and Generative AI by visiting Twilio's website or by tuning into this recent webinar.
Persons: Twilio, Khozema Shipchandler, Brandon Leen, Sinead Bovell, Arist, Arist Arist, Fleetworks, Milo, Smith.ai Smith.ai Organizations: Twilio Ventures, BMO, DoorDash, World Health Organization, OpenAI, Insider Studios
A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. With the United Auto Workers (UAW) strike entering its 36th day and the total economic cost pegged at more than $7 billion, companies are counting the cost of lost revenue amid an uncertain economy and persistent inflation. "The damage from the strikes will last long after UAW members return to work," University of Michigan professor Erik Gordon said. Earlier this week, consultancy firm Anderson Economic Group estimated the economic losses related to supplier wages and earnings of about $2.67 billion through fourth week of the strike. An agreement remains elusive so far and shares of automakers and suppliers have fallen since the strike began on Sept. 15.
Persons: Luke Sharrett, Erik Gordon, Gordon, Lear, John Murphy, Aptiv, Mikael Bratt, Raechel Thankam, Shivansh, Marie, Nathan Gomes, Arun Koyyur Organizations: United Auto Workers, UAW, REUTERS, Detroit Three, University of Michigan, Workers, Delta Air Lines, Detroit . Paints, PPG Industries, railroader Union, Analysts, General Motors, Ford Motor, Trucking, Magna International, Global Research, Anderson Economic Group, Reuters, EV, Auto, Marie Mannes, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Detroit, French, Forvia, Bengaluru, Stockholm
AdvertisementAdvertisementIn the end, I found I could save almost $600 by switching my auto insurance alone to another highly-rated insurance company, Travelers. And if I switched auto and homeowners insurance coverage to this insurer, I could save $1,335 annually. Compare auto insurance quotes from multiple providers with Coverage.com. Getting auto insurance quotesI'm a financially savvy person, but I still found shopping for car insurance quotes and switching plans rather daunting. Switching insurance companies was easier than I thoughtOne point of contention I had with switching companies is the fact I had already prepaid auto insurance coverage for the year.
Persons: I'm, Ashley Brown, Connor, That's Organizations: Allstate, Service, Travelers, Cincinnati Financial, Connor Insurance, Company Auto, Travelers Insurance Locations: Wall, Silicon, Indianapolis
Rachel Covert aggressively invested for seven years to build a retirement portfolio. Her large salary and aggressive budgeting allowed her to build an almost half-a-million-dollar retirement portfolio, according to financial statements viewed by Insider. For this reason, the majority of her retirement portfolio sits in the Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX). This was the best choice for an aggressive growth fund. Her goal was to increase her exposure to more volatile technology growth stocks.
Persons: Rachel Covert, Roth, Covert, I'm, Investopedia Organizations: Vanguard, Market Locations: New York, Portugal, QQQ
Transcend enables companies to design more sustainable and resilient critical infrastructure. We got an exclusive look at the 13-slide pitch deck it used to raise the Series B. With Transcend, designs can be iterated and compared as many times as needed to ultimately find the most cost effective or environmentally-friendly specification. They are split between asset owners themselves, engineering companies, and companies who pitch for infrastructure work, including infrastructure players Arcadis, Black and Veatch, Brookfield Asset Management. Currently a team of 80 in the US and Europe, Transcend plans to add headcount in its marketing and sales team.
Persons: Ari Raivetz, Raivetz, isn't Organizations: Princeton, Brookfield Asset Management, Autodesk, HG Ventures, Arosa Capital, Riverstone Holdings, Aspen Capital Group Locations: Brookfield, Europe
These stocks are on the verge of forming a bullish chart pattern
  + stars: | 2023-06-19 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
The market just enjoyed a big relief rally and some stocks are on the verge of breaking out even higher, according to a bullish chart pattern. CNBC Pro used FactSet data to screen the S & P 500 for stocks that are about to form a so-called "golden cross," in which their 50-day moving average breaks above the 200-day trend line. This has been a reliable bullish signal that historically indicates strong rallies on the horizon. Shares have gained 7% this month after the company reported first-quarter results in line with analysts' expectations, according to FactSet. Dow-component Honeywell International is also on the brink of a "golden cross."
Persons: Warren Buffett's Berkshire Hathaway Organizations: CNBC, Software, Autodesk, Honeywell, BlackRock Locations: Capital One
Mike Lynch, former chief executive officer of Autonomy Corp departs the Rolls Building on June 27, 2019 in London, England. LONDON — British tech entrepreneur Mike Lynch has been extradited to the U.S. to face fraud charges in relation to the sale of his software company Autonomy to Hewlett Packard . He face charges of securities and wire fraud in relation to the sale of his company Autonomy to HP for $11 billion. Lynch isn't the first Autonomy employee to face charges in the U.S. Some in the U.K. tech industry believe that Lynch should not have been extradited.
He had appealed to the High Court to overturn a decision by Britain's home secretary (interior minister) to order his extradition in January. But two High Court senior judges did not even grant him permission for an appeal. "The United States’ legal overreach into the UK is a threat to the rights of all British citizens and the sovereignty of the UK," he said in a statement. HP sued Lynch in London's High Court following the deal. Hussain was convicted of fraud in the United States and sentenced to five years in prison in 2019.
LONDON, March 15 (Reuters) - Tech entrepreneur Mike Lynch asked a London court to block his extradition to the United States to face criminal charges over Hewlett Packard's $11 billion acquisition of his software company Autonomy, arguing he should be prosecuted in Britain. Lynch – the co-founder of Autonomy, who was once hailed as Britain's answer to Bill Gates – faces 17 charges over the 2011 takeover, which was one of Britain's biggest tech deals. Britain's interior ministry on the same day ordered Lynch's extradition to the United States. Bailin also gave updated details of HP's civil lawsuit against Lynch and Hussain, who was jailed in a San Francisco court for five years in 2019. Lynch intends to apply for permission to appeal against the ruling on HP's lawsuit, Bailin said in court filings.
Darktrace hires EY for independent review of finances
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Feb 20 (Reuters) - British cyber security company Darktrace (DARK.L) said on Monday it had commissioned a third-party review of its finances by EY, weeks after a short-seller questioned its results. Darktrace said the appointment of the auditor EY, formerly known as Ernst & Young, was a sign of its confidence in its financial processes. The group said it was "deeply skeptical about the validity of Darktrace's financial statements," prompting Darktrace to issue a rebuttal. Darktrace said in its statement on Monday that it was appropriate for a third party review to confirm the company's financial position. As a sign of that confidence, we have commissioned this independent third-party review by E&Y," chairman Gordon Hurst said.
Meta could face a fine of up to 10% of its global annual revenue if it is found to have breached the EU’s antitrust rules. BRUSSELS—The European Union charged Facebook parent Meta Platforms Inc. with antitrust violations for allegedly distorting competition by tying its online classified ad service to its social network. The European Commission, the bloc’s antitrust enforcer, on Monday issued a charge sheet against Meta that said the U.S. tech company automatically gives Facebook users access to its Marketplace service, potentially pushing aside competitors. The commission said it is also concerned that Meta imposes unfair conditions on competing for online advertising services through its terms and conditions.
When we work smarter, not harder, we can harness our work tools and use technology to our advantage. That flexibility makes space for new ways to work smarter, not harder. In short: Your digital HQ is a way to work, not a place to work. Teams working across various time zones can schedule messages so their colleagues get them when they are online and active. Anyone has the power to use no-code or low-code features in Slack to automate admin work and repetitive tasks, freeing up valuable chunks of time to work on more strategic and meaningful work.
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