Morning News: May 27, 2025
Posted by Eddy Elfenbein on May 27th, 2025 at 7:04 am

Japan Will Spend $6.3 Billion to Shield Its Economy From Trump’s Tariffs

Global Bonds Rally as Japan Looks to Stabilize Its Debt Market

China’s Industrial Profit Growth Accelerated in April

Toy Company Still In Crisis Despite Reduced Tariffs on China

China Turns to Consumers to Boost Growth, but Households Are Wary

China’s Soft Spot in Trade War With Trump: Risk of Huge Job Loss

German Consumer Confidence Edges Higher Despite Tariff Uncertainty

Eurozone’s Economic Outlook Picks Up After Tariff Turmoil Abates

French Inflation Declines, Opening Door to ECB Rate Cut

Swiss Watch Exports Jump in April Boosted by U.S. Frontloading

Buying 100% Made in America Is Really, Really Hard. These People Are Trying.

U.S. Ships Championed by Trump Cost 5 Times as Much as Asian Ones

Trump’s China Tariffs Are Having a ‘Massive Impact’ on Small Business

HSBC Cuts Dozens of Analyst Jobs in Investment Banking Overhaul

US Fund Managers Put on Notice by $65 Billion Dutch Investor

The US Is About to Discover if Deficits Don’t Matter

The Silver Tsunami Is Keeping the US Economy on Track

There’s No Such Thing As ‘Exorbitant Privilege,’ There’s Just Production

Stablecoin Issuer Circle, Shareholders Seek $624 Million in IPO

Private Equity Fundraising Plunges Amid Struggle to Return Cash

The Economic Consequences of Destroying Harvard

Singapore’s AI Push Charts Path Toward Localized Models

Tech’s Trump Whisperer, Tim Cook, Goes Quiet as His Influence Fades

Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back?

The Republican Assault on EVs Is Almost Complete

Tesla’s Europe Sales Nearly Halve In April

Yes, That 18-Wheeler on a Texas Highway Is Driving Itself

Salesforce Nears $8 Billion Deal for Informatica

Temu Owner PDD’s Profit Nearly Halves as Revenue Growth Slows to Three-Year Low

Retailers Pummeled by Trump’s Trade War Entertain More ‘Take-Private’ Offers

Inside the Test Kitchens Helping Restaurants Navigate the Trade War

The N.B.A.’s Age of Dynasties Is Over. Will That Hurt Its Business?

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Morning News: May 26, 2025
Posted by Eddy Elfenbein on May 26th, 2025 at 7:14 am

Global Central Banks Talk Harsh New Economic Realities in Tokyo

Moody’s Rethinks Its Rating Spectrum on the G-7

Trump’s Tariffs: Where Things Stand

The 90-Day Rush to Get Goods Out of China

Your Patio Furniture Set Is Going to Cost a Lot More This Summer

China Has Special Access to Rare Earths — From Myanmar

Big Miners Want New Blood to Tackle an Old Problem

Trump’s Tariffs and Tax Bill May Derail U.S. Battery Industry

Moderate House Republicans Did What They Do Best: They Caved

Chinese Auto Stocks Fall on Fears of Fresh Price War

Xi Mulls New Made-in-China Plan Despite US Call to Rebalance

Chinese, EU Trade Heads to Meet as Trump Tariff Tensions Rise

Trade Between the U.S. and EU Is Massive. We Break It Down.

Trump Delays E.U. Tariffs Until July 9

Ring-Fencing Was a Good Idea That UK Banking No Longer Needs

If They’re Telling You Why Treasury Yields Are Up, They Don’t Know Why

Kashkari Says ‘Not Sure’ on Interest Rate Moves by September

Jerome Powell Tells Princeton Grads Not to Take Universities for Granted and that ‘Integrity Is All We Have—Guard It Carefully’

How Student-Loan Crisis Will Show Up in the Economy

Trump Allies Look to Benefit From Pro Bono Promises by Elite Law Firms

Trump Backing for a Nippon Steel Deal Leaves Big Questions

Electric Vehicles Died a Century Ago. Could That Happen Again?

Chinese EV Trucks Will Build the Cities of the Future

Volvo Car to Cut Around 3,000 Jobs

Malaysia, Singapore Explore Importing Wind Energy from Vietnam

Jony Ive’s OpenAI Deal Puts Pressure on Apple to Find Next Big Thing

ChatGPT’s Improved Memory Points Toward a More Personal AI

At Amazon, Some Coders Say Their Jobs Have Begun to Resemble Warehouse Work

Meituan Profit Soars as Revenue Beats Estimates Despite Rising Competition

‘Lilo & Stitch’ and Tom Cruise Add to a Box Office Boomlet

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Morning News: May 23, 2025
Posted by Eddy Elfenbein on May 23rd, 2025 at 7:03 am

EU Agrees to Reinstate Trade Quotas on Ukraine as War Drags on

Sorry, Donald Trump, But Ukraine Is Your War

How Middle East Oil Giants Are Building Soft Power

Big Gas Cheered by Evidence Chinese Demand Remains Strong

China’s Lithium City Is a Front Line of the Battery Trade War

Japan Consumer Inflation Picks Up on Higher Energy, Food Prices

Eurozone Wages Slowed Sharply Ahead of Tariff Blow

Germany Upgrades First-Quarter Growth on Manufacturing Strength Ahead of Tariffs

U.K. Retail Sales Rise for Fourth-Straight Month, Boosted by Warm Weather

U.K. Consumer Sentiment Edges Up From Low Mood as Tariff Turmoil Eases

Trump Threatens a 50% Tariff on EU Goods Starting in June

Bond Market to Washington: We’ll Make You Pay

Republicans Harness Tax Code to Punish Trump’s Political Nemeses

The Republican Tax Bill Could Sharply Slow E.V. Sales

US Debt Limit Nail-Biter Looms as Senate Ponders Trump Tax Bill

Treasury Sounds Death Knell for Penny Production

US Firms Face Biggest Hit on Trump Tariffs, HSBC Survey Says

Under Trump, a Mainstay for Small Businesses Clamps Down

CEOs Can Stop White House Attacks — If They Act Now

Empathy and Ethics Needed In the C-Suite

The FTC’s Fruitless Search for ‘Relevant Markets’

Harvard’s Foreign Students Are Stunned and Devastated by Trump’s Ban

Booz Allen Hamilton Revenue, Outlook Below Estimates

Dillard’s Sues Wells Fargo for Allegedly Abandoning Co-Branded Card Relationship

Trump Threatens 25% Tariffs on Apple If iPhones Not US Made

Surge of Successful Tech IPOs Gives Hope to Silicon Valley Startups

AI ‘Washers’ Can’t Exaggerate Their Way Out of This One

The Obesity-Drug Battle Is Heating Up After Novo’s CEO Ouster

OnlyFans Owner in Talks to Sell to Investor Group at About $8 Billion Value

Why Is IMAX Suddenly Everywhere?

Are You Smarter Than a Billionaire?

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Morning News: May 22, 2025
Posted by Eddy Elfenbein on May 22nd, 2025 at 7:05 am

Metal Traders Are Beginning to Look Past China’s Economic Woes

India’s Central Bank Cautiously Upbeat on Economy Despite Trade Risks

BOJ Board Member Noguchi Calls for ‘Measured, Step-By-Step Approach’ to Rate Hikes

From Wealth Management to Tourism, the Gulf Reimagines Its Role

OPEC+ Discusses Another Super-Sized Output Hike for July

Barbarism Against Israelis Is Bigger Than Hamas

France and Saudi Arabia Aim to Disarm Hamas in New Peace Push

Eurozone Business Activity Declines Despite Tariff Respite

EU to Delay Bank Rules as It Waits for Trump’s Deregulation Moves

U.S. Trade Deals With Allies ‘Suboptimal’ Solution to Tariff Drag, EU’s Dombrovskis Says

It’s ‘Crunch Time’ for US Importers Facing Tariff Deadlines, Customs Audits

Trump Tax Bill Narrowly Passes House, Overcoming Infighting

The House Passed Trump’s Megabill. Bond Investors Are Worried.

Bond Market Warns Trump, Congress on Dangers of Swelling Deficit

Dimon Warns of US Stagflation Risk, Says Fed Right to Hold

Deutsche Bank CEO Calls 2025 a ‘Year of Reckoning’

Canada’s TD Bank Tops Profit Estimates, Announces Job Cuts

Crypto Crime Is the Future. Bank Heists Are History.

The Trump Family’s Money-Making Machine

Elon Musk on Political Spending: ‘I Think I’ve Done Enough’

Musk’s Political Backpedal Leaves X Searching for Relevance

Meet the IT Companies That Say DOGE Is Good for Business

What Trump’s Apple Threat Means for India’s Tariff Negotiations

Jony Ive and OpenAI Make a Long-Shot Bet to Kill the iPhone

Facebook Is Powerful Evidence That Meta Is Not a Monopoly

Deepfake Laws Bring Prosecution and Penalties, but Also Pushback

Why Bureaucrats Are Bad for Businesses and Brands

Trump’s Funding Threats Build a Case for Private High-Speed Rail

Nike to Sell Products on Amazon Following Five-Year Absence

Wes Anderson, De Niro Push Back Against Trump Tariffs in Cannes

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Morning News: May 21, 2025
Posted by Eddy Elfenbein on May 21st, 2025 at 7:03 am

US – China Metals Fight Finds New Home in Congo’s Cobalt Mines

US Needs Level Playing Field With China, Says Mnuchin

ECB’s Guindos Sees Price Target Hit Sooner Rather Than Later

Julius Baer Books Loan Loss Charge as New Management Pushes for Turnaround

Canada Pension Fund Piles Into US Despite ‘Buy Canada’ Pressure

Canadian Banks Brace for Trade Uncertainty With More Loan Loss Provisions in Second Quarter

Tariffs Threaten Double Blow to Small US Banks

Trump’s Tax Policy Collides with Market Reality

Why the ‘Big, Beautiful’ Tax Bill Is Worrying Bond Investors

Johnson Says Agreement Reached on $40,000 SALT Cap Increase

What Market Signals Can Teach the National Debt Alarmists

To Gen Z, Everything Is a Recession Indicator

America’s Debt Problem Is Also a Retirement Problem

Dudley: The Fed Should Prepare Markets for the Unexpected

JPMorgan Opens Geopolitics Arm as Dimon Warns of ‘Hinge Point’

Trump Scolded Companies for Raising Prices. Do They Have a Choice?

Nvidia CEO Urges US to Ease AI Curbs After ‘Failure’ With China

Google Unveils A.I. Chatbot, Signaling a New Era for Search

Will Writing Survive A.I.? This Media Company Is Betting on It.

Fortnite Returns to Apple’s App Store After Scoring a Legal Victory

Elon Musk’s Pullback from Politics Comes After His Last Big Investment Was a Flop

Medtronic to Split Off Diabetes Unit as Tariffs Hit Earnings

UnitedHealth Plunge Stunned Wall Street. One Analyst Saw It Coming

CVS Offers Bonuses and Pizza Parties as Perks to Boost Vaccine Sales

Lowe’s Sticks by Full-Year Forecast as Sales from Home Professionals Boost Business

Target Cuts Outlook On Shopper Pullback, Hit to Retailer’s Sales

Canada Goose Profit Up But Withholds Guidance, Cites Tariff Uncertainty

Real Estate Agent Commissions Too High? Flat-Fee Brokers Offer an Alternative

‘Lilo & Stitch’: How a Fuzzy Blue Alien Became a Disney Cash Cow

What if Making Cartoons Becomes 90% Cheaper?

A Perrier Clash Has People Asking: Is ‘Natural’ Water Even Possible Anymore?

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CWS Market Review – May 20, 2025
Posted by Eddy Elfenbein on May 20th, 2025 at 5:19 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

Moody’s Downgrades America

On Friday, one of our Buy List stocks made international news. Moody’s cut its rating on the United States of America’s debt by one notch. The USofA is now rated Aa1. Prior to the cut, Moody’s had given the U.S.A. the biggest prize in finance, the coveted AAA rating. Moody’s had rated America’s debt AAA since 1917.

The other two big debt raters, Fitch and S&P, had already cut their ratings on America’s debt. Moody’s was the lone holdout.

Is this something to worry about? Eh, not really. Personally, I don’t get too worked up about these kinds of things. These events generate headlines more than they tell you about finance. For one, S&P cut its rating in 2013. Fitch joined in two years ago. I doubt that many people even noticed.

Also, I think it’s a little silly. Having a rating on America’s debt is like having an opinion on the sun. What is there to say?

It’s true that America’s debt has reached a staggering level. According to the “Debt to the Penny” website, our public debt stands at $36,215,714,628,553.09. In Washington, both parties are busy blaming each other for the mess. That’s hardly a surprise. The immediate cause for the debt downgrade is President Trump’s “One Big Beautiful Bill Act,” which he’s been pushing Congress to pass.

Moody’s said “the decision to downgrade debt was influenced by ‘the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns.’” If that’s true, then a downgrade could have come at any time in the last several years. I don’t know why they’re choosing now.

When Ronald Reagan was asked if he was worried about the budget deficit, he said no, it’s “big enough to take care of itself.”

One upshot is that Moody’s doesn’t appear to be interested in cutting its rating again. The company rates America’s debt as stable. Well, that’s good to know.

In a sense, America’s debt is judged every day—in fact, every minute of every hour of every day—by the global bond and currency markets.

It’s true that our government has been remarkably irresponsible with our finances, and there’s plenty of blame to go around. However, there’s an inescapable fact that investors all over the world want to own our debt, and they’re willing to pay for it. That tells me a lot more than what Moody’s has to say. Bear in mind that the S&P 500 just ran off 17 up days in the last 20 trading sessions. If it were truly a big deal, then markets would reflect it.

To be honest, I have been concerned by the recent rise in Treasury yields. The yield on the 30-year Treasury recently spiked above 5%, and the yield on the 10-year Treasury is close to 4.5%.

I also like to watch the TIPs yields which are adjusted-for-inflation bonds. The yield on the 30-year TIPs is now about 2.6% which is close to as high as these bonds have ever traded, with data going back more than 20 years. As recently as three years ago, the yield on the 30-year TIPs was negative. In a sense, we’re returning to normal.

The stock market tends to perform worse when TIPs yields are high, and that makes perfect sense. I suspect that the higher yield on TIPs reflects a change in risk tolerance.

Overall, I’m concerned about America’s fiscal standing, but I’m watching the market’s reaction rather than a ratings agency.

I Missed Out With Costco

I’m going to engage in a bit of self-criticism, and I hope to convey some important lessons about investing. I’m a big fan of Costco, and I completely screwed up with it.

I studied the company intently. I even wandered up and down the aisles and took notes. (It’s a wonder I was never kicked out!) Gradually, I became a huge Costco fan.

It’s a very well-run company and its earnings have grown consistently for many years. Costco has a renewal rate of 93%. The company has all the qualities I look for in a stock, except one: Costco has a very high valuation. Very high.

This fact had led me to decline from adding it to the portfolio. No matter how many times I ran the numbers, it always looked to me that Costco was way too pricey, and I can say that with full confidence, I was dead wrong.

The stock kept moving higher. Just because it was overpriced was apparently no barrier to it becoming even more overpriced.

Check out this chart. In 16 years, Costco is up 35-fold. I don’t know if there ever was a bad time to buy it.

Let me go into more detail why I’m such a Costco fan. For one, I love Costco’s business model, and its customer base is very loyal. Some might say cult-like. Importantly, the company generates recurring revenue from its membership fees, and the cash flow is stable. As investors, we love recurring revenue.

The idea is simple. There’s a lot of savings in buying in bulk. If you need to buy a 17-pound tub of mayonnaise, Costco is the place to go. In addition to bulk-buying, Costco is obsessed with efficiency.

The company runs about 800 warehouses, and the average location generates about $275 million in revenue per year. The margins are very thin, meaning the markups are quite small.

For the last fiscal year which ended in August, Costco generated a profit of $7.4 billion off sales of $250 billion. That works out to about 3%. I don’t think people realize how tiny that is.

At its core, Costco is really a business dedicated to turnover and efficiency. As soon as a product is on their shelf, they want to get rid of it as soon as possible. Costco runs a very tight ship. Walmart carries about 10 times the number of items. Costco keeps it simple.

From Fast Graphs, this is Costco’s stock (in black) along with 30 times its earnings (in blue) and dividends (in tan).

The blue line is a P/E Ratio of 30, which isn’t cheap, and you can see how the black has quickly run past that.

Costco also runs its own private label Kirkland brand which makes up for about one-quarter of Costco’s overall sales. That by itself is a major business. Costco is also very good at using popular items as loss leaders like rotisserie chickens or their famous $1.50 hotdogs.

Costco knows that if you get people in the store, and feed them, they’ll probably stick around and buy something. In fact, people seem to enjoy the price-hunting experience. Costco, of course, has no plans to change the price of its hotdogs.

I also like that Costco tends to be countercyclical. In plain English, that means Costco does well when the economy runs off the road. That’s when people are looking for discounts. They have a helpful and knowledgeable staff. Costco employees are generally paid more than their competitors.

Have you ever seen an ad for Costco? Now that I think of it, I don’t believe I ever have. They do advertise, but not very much. Instead, they rely on word-of-mouth.

The membership model also encourages shoppers to go to a store. It’s a sunk cost. That’s because they already bought a membership so they figure they might as well use it.

Costco was also a point of contention between Warren Buffett and Charlie Munger. Charlie loved the stock, but Buffett was skeptical, and he never liked retail. Charlie was able to convince Warren to buy Costco and it became a huge winner for them. Costco even added Munger to its board.

After Munger passed away, Buffett decided to sell Costco, yet the stock continued to rally. Buffett conceded that his friend had been right all along.

In March, Costco posted a rare earnings miss. For its fiscal Q2, Costco earned $4.02 per share. That was nine cents below expectations. In six days, the stock fell 15%. The sale didn’t last long, and Costco has made back nearly everything it lost.

For this fiscal year, Costco is expected to make $18.12 per share. That means the stock is trading at 57 times earnings. Sorry, but that still seems way too expensive. (But I’ve been wrong before!)

In retrospect, my mistake was placing too much attention on the share price when I should have been focusing on what makes Costco so different.

Later this week, we’ll get reports on new and existing home sales. Next week, the Fed will release the minutes of its most recent meeting. Also, the government will update its report on Q1 GDP growth. The initial report said that the U.S. economy grew at a meager 0.3% for the first three months of this year.

That’s all for now. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: May 20, 2025
Posted by Eddy Elfenbein on May 20th, 2025 at 7:05 am

Trump Hands Putin Win With Retreat From Ukraine Peace Talks

A Spendthrift Saudi Arabia Can’t Finance the World Anymore

Qatar Wealth Fund Chief Endorses $500 Billion US Push

China’s Economy Feels the Sting From Trade War

China Cuts Benchmark Lending Rates

Bank of England Should Slow Interest-Rate Cuts, Pill Says

Citi Sees Weaker Dollar After G-7 Meeting as US Softens Tariffs

U.S. Economy Is Experiencing ‘Death by a Thousand Cuts’, Says Deutsche Bank, as Confidence in National Debt Management Erodes

This Morgan Stanley Investor Warns of Three Big Disconnects with Stocks on the Verge of a Bull Market

SALT Agreement Remains Elusive for House GOP on Trump Tax Bill

Trump’s Pick to Lead I.R.S. Promoted a Nonexistent Tax Credit

What to Know About Capital One’s $35 Billion Takeover of Discover Financial

JPMorgan Expects Dealmaking Fees to Drop, Keeps CEO Succession Plans Steady

Low Birthrates Are a Market Signal of a Rich, Rich Future

UBS Shares Drop 3% After Report that It Faces Swiss Capital Setback

Gulf Deal-Making Spree Also Benefited Elon Musk and His Family

Trump Berates Companies for Warning About Tariff Price Increases

Walmart Responds to Trump Comment that Retailer Should ‘Eat the Tariffs’

A Feared Tsunami of Cargo From China Looks More Like a Swell

Tesla Supplier CATL Soars After Biggest Listing of 2025

Musk’s AI ‘Colossus’ in Memphis Is Everyone’s Problem

Europe’s Wind Drought Curbs Power Generated by Offshore Turbines

Home Depot Plans to Keep Prices Steady Despite Tariffs

Why Is Nvidia the King of AI Chips, and Can It Last?

Nvidia CEO’s Growing Presence Transcends Technology

‘Big, Beautiful’ Auctioning of Unused Spectrum

Vodafone Launces Buyback After Revenue Rises

To Modernize Railroads, Remove the Barriers to Their Modernization

23andMe to Be Bought by Biotech Company for $256 Million

The Potential Cancer, Health Risks Lurking in One Popular OTC Drug

‘Sesame Street,’ Facing Crisis, Signs New Deal With Netflix

Florida’s Real Estate Strength Is Turning Into a Weakness

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Morning News: May 19, 2025
Posted by Eddy Elfenbein on May 19th, 2025 at 7:05 am

China’s Economy Feels the Sting From Trade War

EU’s €150 Billion Defense Fund Receives Preliminary Approval

EU Lowers Growth Forecast as U.S. Tariffs Expected to Hit Exports

Republicans Like Europe — Whether They Know It or Not

Markets Rattled on Concerns About U.S. Debt

The ‘Triple A’ Sovereign Bond Club Has Shrunk

Moody’s Blues Come for US Sentiment

Treasuries, Dollar Fall as Moody’s Sharpens Focus on US Debt

The ‘Sell America’ Trade Makes a Comeback

Traders Ride the Trump Show’s ‘Good Volatility’

Cathie Wood Says Trump’s Tariff War May Free Up Markets

This Veteran Investor Crunches the Numbers and Sees the Risk of a Full-Blown Bear Market

How President Trump is Sparking a Crypto Revolution in America

JPMorgan Executives Take Center Stage with Succession, Tariffs in Focus

JPMorgan Says Charge-Offs in Card Portfolio Could Be Higher in 2026

The Miners Who Lost Their Jobs, but Not Their Faith in Trump’s Tariffs

Will Anyone Take the Factory Jobs Trump Wants to Bring Back to America?

Canadians Fear Trump’s Tariffs Will Create a ‘Ghost Town’ in Ontario

Porsche Tried to Be Both Ferrari and Mercedes. With the Trade War, It Struggles to Be Either.

The Unlucky Business Owners Who Named Their Companies ‘DEI’ Before It Was a Thing

Trump Warns America’s Businesses: Eat My Tariffs, or Pay the Price

El-Erian Says the Era of U.S. Exceptionalism is on Pause

The U.S. Under Trump: Alone in Its Climate Denial

Blackstone Infrastructure to Buy TXNM Energy for $5.7 Billion

Gas Power Is Cheaper to Buy Than Build in the US

Saudi Arabia, UAE See AI Buildup as Key to Post-Oil Power

Why Apple Still Hasn’t Cracked AI

Qualcomm to Make Data Center Processors that Connect to Nvidia Chips

SNAP Is a Lifeline: Congress Can Make It More Efficient

A Most Favored National Policy for Pharma Drugs Makes Sense

A Pickled Pepper Maker Knows Exactly How Hard It Is to Switch to Natural Food Dyes

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Morning News: May 16, 2025
Posted by Eddy Elfenbein on May 16th, 2025 at 7:03 am

Japan’s Economy Shrinks for First Time in a Year

‘It’s All About Trump’s Tariffs’: Asia Flocks to U.S. Trade Official

EU Exports to U.S. Surge Ahead of Trump Tariffs

China Solar Firms to Speed Up Global Push Amid Tariff Truce

What’s the De Minimis Tariff Loophole That Trump Closed?

There’s No Denying It Now: Tariffs Are Raising Prices

Is the Age of American Exceptionalism Nearing an End?

The Tax Code Gets a MAGA Makeover

Who Would Benefit from the GOP’s Tax Bill? HENRYs

House’s Latest Budget Is a Fiscal Time Bomb

Bessent Sees New Financial Forces Strengthening Economy, Dollar

A Tax on Harvard and Harvard Professors Is a Tax on You

There’s a Darker Reason Trump Is Going After Those Law Firms

‘Make America Great Again’ Perilously Embraces Antitrust

Oil Market’s Missing Barrels Have Gone Up in Smoke

China Loosens Grip on Magnet Exports, Relieving Carmakers

EU Seeks Feedback on Microsoft’s Offer to End Teams Antitrust Investigation

Microsoft’s CEO on How AI Will Remake Every Company, Including His

Trump and Abu Dhabi Ink Partnership to Build Massive AI Data Center Complex in UAE

Pharmaceutical Tariffs Will Cost Consumers In Terms of Price, Reliability

Novo Nordisk CEO to Step Down Amid Market Challenges

Why UnitedHealth’s Terrible Year is Dragging Down the Dow

9 Federally Funded Scientific Breakthroughs That Changed Everything

Can She Keep PBS on the Air?

The Old Model of Billionaire Philanthropy Is Ending

Citi to Cut Up to 200 Tech Contractor Roles in China

Charter Communications to Merge With Rival Cox in $21.9 Billion Deal

Former Burger King Boss Picked to Oversee Panera, Pret a Manger

Movie Tariffs Could Open a Pandora’s Box

With the Switch 2, Nintendo’s Goal Is a Console for Every Member of the Family

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Morning News: May 15, 2025
Posted by Eddy Elfenbein on May 15th, 2025 at 7:05 am

South Korea Goes Small in Bid for Nuclear Power Ascendance

Eurozone Grew More Weakly Than Thought at Start of 2025, Despite Output Boost Ahead of Tariffs

Rebound Leaves Asset Prices out of Line With Geopolitical Risks, Says ECB’s De Guindos

U.K. Economy Raced at Start of Year But Slowdown Looms

U.S. Ranchers Can Sell Britons More Beef. Will They Buy It?

Trump’s Tariffs Won’t Bring Manufacturing Back to America

Is It Too Late to Save the US Economy?

Bond Traders Enter the Budget Fight

‘Beautiful’ Is In the Eye of the Bond Vigilantes

GOP Tax Bill Seen Masking More Than $1 Trillion Hit to US Debt

Preserving the 21% Corporate Tax Rate Redounds to Workers

No, You Don’t Actually Have a Right to a Bank Account

The Retail Buy-the-Dip Move Paid Off. What That Crowd of Investors is Doing Now, According to JPMorgan

JPMorgan Investors Look for Clarity on Tariff Impact, Succession Plan

Commerzbank CEO and Workers Rally to Fend Off UniCredit as Investors Meet

A Less-Generous Warren Buffett Would Be $67 Billion Richer Than Elon Musk

First-Time Home Buyers Are Struggling. That’s Bad News for Builders.

Walmart Weathers Trade War Storm With Strong Sales

Walmart Warns About Ability to ‘Absorb’ Tariff Costs Without Raising Prices

A Trade War Winner? The Booming Business of Returned Products.

What an Nvidia-Humain Deal Does for Saudi Arabia in the Global AI Race

Trump Asks Apple to Stop Moving iPhone Production to India

Meta Sees a Future Where AI Fills Your Social Needs

NetEase Profit Jumps as Chinese Videogame Industry Bounces Back

Deere Adjusts FY25 View Amid Tariff Whiplash as 2Q Results Weaken

Dick’s Sporting Goods to Buy Foot Locker for $2.4 Billion

Sandal-Maker Birkenstock Lifts Earnings View After Strong Sales

RFK Jr.’s Quest to Make Americans Eat Healthier Will Be Costly

Profits Are Stagnant. But the Funeral Industry Is Not Dead Yet.

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