Posts by Swedan Margen
Apple’s iPhone cost could rise 90% if it’s made in US: BOA
[LUTON] It’s possible for Apple to move iPhone production to America, but it would almost double the cost of making the device while creating logistical headaches, according to Bank of America (BOA). “iPhone cost can increase 25 per cent purely on higher labour cost in the US,” BOA analysts led by Wamsi Mohan wrote in…
Read MoreAmazon seeks partners for US$15 billion warehouse expansion plan
[NEW YORK] Amazon.com is considering a US$15 billion warehouse expansion plan for nearly 80 new logistics facilities in US cities and rural areas that would reverse its post-pandemic construction slowdown, according to sources familiar with the matter. The e-commerce company is asking potential capital partners to submit proposals, the sources said, asking not to be…
Read MoreNike’s 30-year gamble on Vietnam is rattled by Trump tariffs
[NEW YORK] At Nike headquarters in Beaverton, Oregon, executives are trying to figure out how to best spread the pain of new tariffs. Nike, the factories that produce its goods, the wholesalers that sell the goods and ultimately shoppers will all likely share portions of the cost, according to a source familiar with the matter…
Read MoreEurope: Shares resume selloff as trade war escalates; healthcare slumps
EUROPEAN shares tumbled further on Wednesday as China more than doubled its tariffs on US imports, with healthcare stocks leading declines after US President Donald Trump threatened more sector-specific tariffs. The pan-European Stoxx 600 slumped 3.5 per cent to 469.89 points, as the previous session’s rally fizzled out. The healthcare sector fell 5.8 per cent to…
Read MoreCoalition urges California attorney general to halt OpenAI’s for-profit restructuring
SAN FRANCISCO — A coalition of California nonprofits, foundations and labor groups are raising concerns about ChatGPT maker OpenAI, urging the state attorney general to halt the artificial intelligence startup’s plans to restructure itself as a for-profit company. More than 50 organizations, led by LatinoProsperity and the San Francisco Foundation, signed a petition that was sent…
Read MoreUS: Wall Street mixed at open as China raises tariffs on US goods
[NEW YORK] Wall Street’s main indexes were mixed at the open on Wednesday (Apr 9) after China announced more levies on US goods, retaliating against President Donald Trump’s reciprocal tariffs that took effect earlier in the day. The Dow Jones Industrial Average fell 257.7 points, or 0.68 per cent, at the open to 37,387.91. The…
Read MoreUS asset sell-off hammers greenback against safe-haven currencies, euro
THE US dollar dropped versus safe-haven currencies and the euro on Wednesday (Apr 9) as investors worried about the economic impact of US tariffs, which spooked the world’s equity markets. Major stock indexes sank, while a sell-off in US Treasuries sparked fears foreign funds were fleeing US assets. US stock index futures struggled after a…
Read MoreCalifornia lawmakers tackle potential dangers of AI chatbots after parents raise safety concerns
When her 14-year-old son took his own life after interacting with artificial intelligence chatbots, Megan Garcia turned her grief into action. Last year, the Florida mom sued Character.AI, a platform where people can create and interact with digital characters that mimic real and fictional people. Garcia alleged in a federal lawsuit that the platform’s chatbots…
Read MoreGrab, Sea seen as defensive stocks as they are not exposed to direct trade links with US
[SINGAPORE] Singapore-headquartered tech giants Grab and Sea – both listed in the United States – have not been spared amid a wider market sell-off sparked by “reciprocal tariffs” announced by US President Donald Trump on Apr 2. Since the announcement, Grab has tumbled some 19 per cent to US$3.73 as at Apr 8 and Sea…
Read MoreGrab, Sea seen as defensive stocks as they’re not exposed to direct trade links with US
[SINGAPORE] Singapore-headquartered tech giants Grab and Sea – both listed in the US – have not been spared amid a wider market sell-off sparked by “reciprocal tariffs” announced by US President Donald Trump on Apr 2. Since the announcement, Grab has tumbled some 19 per cent to US$3.73 as at Apr 8 and Sea has…
Read MoreUS considers adjusting port fee plan for Chinese vessels after pushback: sources
[LONDON/ATHENS] President Donald Trump’s administration is considering softening its proposed fee on China-linked ships visiting US ports after a flood of negative feedback from industries that said the idea could be economically devastating, according to six sources. Among the changes under consideration are delayed implementation and new fee structures designed to reduce the overall cost…
Read MoreBank Indonesia will act boldly to maintain rupiah stability
[JAKARTA] Indonesia’s central bank will act boldly to maintain rupiah stability by intervening in the spot, domestic non-deliverable forwards, and bond markets, a deputy governor said on Wednesday (Apr 9) after the rupiah hit a record low against the dollar. Bank Indonesia’s (BI) senior deputy governor Destry Damayanti told Reuters that moves in domestic bonds…
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