French Winemaker on Navigating Tariffs
Château Smith Haut Lafitte co-owner Florence Cathiard on navigating tariffs.
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Yahoo
3 minutes ago
- Yahoo
Bitcoin Nears Record as Treasury Investors Boost Crypto Market
(Bloomberg) — Bitcoin (BTC-USD) rose to within striking distance of an all-time high as demand from institutional investors and corporate treasury buyers lifts the wider market for digital assets. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms The original cryptocurrency advanced as much as 3.2% to top $122,000, not far shy of a previous record set in mid-July. A weekend rally saw Ether surge to above $4,300, its highest level since Dec. 2021. The gains come on the back of mounting interest in cryptocurrencies among large investors. So-called digital-asset treasury companies — listed vehicles that pivot into accumulating cryptocurrencies — have to date amassed a Bitcoin stockpile worth $113 billion, according to data compiled by Coingecko. Equivalent vehicles for Ether have stockpiled some $13 billion of the token so far, according to data. 'Bitcoin's climb toward record highs is being supported by steady institutional inflows into corporate treasuries, US spot ETFs and a shift in sentiment following new US tariffs on imported gold bars,' said Rachael Lucas, a crypto analyst at BTC Markets. 'With gold facing supply bottlenecks and policy risk, Bitcoin's role as a borderless, tariff-free store of value is gaining traction among investors.' Eric Trump, son of US President Donald Trump, who has financial interests in several digital-asset entities, applauded the Ether rally in a post on X. Bloomberg News reported Friday that investors are being sounded out on a plan for World Liberty Financial, the Trump family-backed venture, to set up a public company that would hold its WLFI tokens. Ether options markets reflected the bullish sentiment with an overall put-call ratio 0.40. The highest concentration of call options with a December 26 expiry is at $6,000, according to Deribit data. Bitcoin and Ether positioning has been heavily skewed toward September and December calls in line with macro rate-cut timing and continued adoption by the traditional financial system, said Sean McNulty, derivatives trading lead of APAC at digital-asset prime brokerage FalconX Ltd. For Bitcoin, the next major milestone is the previous all-time high of $123,205, while support for the token can be found near $116,000 if momentum fades, Lucas added. (Updates throughout) The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Yahoo
3 minutes ago
- Yahoo
In India, Trump's tariffs spark calls to boycott American goods
By Aditya Kalra NEW DELHI (Reuters) -From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against U.S. tariffs. India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta's WhatsApp and Domino's has more restaurants than any other brand in the country. Beverages like Pepsi and Coca-Cola often dominate store shelves, and people still queue up when a new Apple store opens or a Starbucks cafe doles out discounts. Although there was no immediate indication of sales being hit, there's a growing chorus both on social media and offline to buy local and ditch American products after Donald Trump imposed a 50% tariff on goods from India, rattling exporters and damaging ties between New Delhi and Washington. McDonald's, Coca-Cola, Amazon and Apple did not immediately respond to Reuters queries. Manish Chowdhary, co-founder of India's Wow Skin Science, took to LinkedIn with a video message urging support for farmers and startups to make "Made in India" a "global obsession," and to learn from South Korea whose food and beauty products are famous worldwide. "We have lined up for products from thousands of miles away. We have proudly spent on brands that we don't own, while our own makers fight for attention in their own country," he said. Rahm Shastry, CEO of India's DriveU, which provides a car driver on call service, wrote on LinkedIn: "India should have its own home-grown Twitter/Google/YouTube/WhatsApp/FB -- like China has." To be fair, Indian retail companies give foreign brands like Starbucks stiff competition in the domestic market, but going global has been a challenge. Indian IT services firms, however, have become deeply entrenched in the global economy, with the likes of TCS and Infosys providing software solutions to clients world over. On Sunday, Modi made a "special appeal" for becoming self-reliant, telling a gathering in Bengaluru that Indian technology companies made products for the world but "now is the time for us to give more priority to India's needs." He did not name any company. DON'T DRAG MY MCPUFF INTO IT Even as anti-American protests simmer, Tesla launched its second showroom in India in New Delhi, with Monday's opening attended by Indian commerce ministry officials and U.S. embassy officials. The Swadeshi Jagran Manch group, which is linked to Modi's Bharatiya Janata Party, took out small public rallies across India on Sunday, urging people to boycott American brands. "People are now looking at Indian products. It will take some time to fructify," Ashwani Mahajan, the group's co-convenor, told Reuters. "This is a call for nationalism, patriotism." He also shared with Reuters a table his group is circulating on WhatsApp, listing Indian brands of bath soaps, toothpaste and cold drinks that people could choose over foreign ones. On social media, one of the group's campaigns is a graphic titled "Boycott foreign food chains", with logos of McDonald's and many other restaurant brands. In Uttar Pradesh, Rajat Gupta, 37, who was dining at a McDonald's in Lucknow on Monday, said he wasn't concerned about the tariff protests and simply enjoyed the 49-rupee ($0.55) coffee he considered good value for money. "Tariffs are a matter of diplomacy and my McPuff, coffee should not be dragged into it," he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 minutes ago
- Bloomberg
Trump's 50% Levy Is Forcing Indian Banks to Scrutinize Exporters
Indian banks are increasing scrutiny of new loan applications from exporters by asking about exposure to the American market and contingency plans for coping with US President Donald Trump's steep tariffs, according to people familiar with the matter. Bloomberg News spoke to officials at five large Indian lenders who said they're assessing the financial ramifications of the punitive levies on their clients, especially those in the export-dependent textile, gem and jewelery sectors. They all spoke on the condition of anonymity, as the information is not public.
