Engadget Podcast: How real is Ford's $30,000 EV pickup truck?
OpenAI releases GPT-5, the reception so far is mixed – 24:45
NVIDIA and AMD may tithe 15% of their Chinese GPU sales to the U.S. government – 30:18
Goodbye: AOL will phase out dial-up at the end of September – 33:25
AI-powered 'Smarter Siri' likely won't hit iPhones until Spring 2026 – 36:42
Perplexity makes an unsolicited offer to buy Chrome for $34 billion, which is more than the company is worth – 41:03
Listener Mail: Gaming on a MacBook Air – 52:31
Pop culture picks – 59:13
Host: Devindra Hardawar
Guest: Roberto Baldwin
Producer: Ben Ellman
Music: Dale North and Terrence O'Brien
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USA Today
6 minutes ago
- USA Today
Changing jobs? How to protect your 401(k) from hidden fees
If you're not careful, 401(k) fees can eat away at your retirement savings. Here's what to know. A U.S. Government Accountability Office study reported that 41% of American workers are unaware that 401(k) plans carry fees. Yet these fees can cost a workers thousands (and thousands) of dollars throughout their working years, leaving them with smaller retirement accounts than expected. It's common to lose track of fees when deciding whether to roll your existing 401(k) over or leave it where it is. However, it's essential to know how much you're paying in 401(k) fees and the effect they'll have on your retirement account. Here's what you need to know about 401(k) fees when changing jobs, where to find them, and how to control them. If you're not changing jobs, these tips can help you take control of an existing 401(k) and the amount you're paying out in fees. 401(k) fees add up If you're changing jobs, it's possible that your old employer paid your retirement account fees on your behalf while you worked there. However, once you move on from the job, it's unlikely that the company will continue to cover those fees. If that's the case, your old retirement account may be exposed to fees you know nothing about. Let's say one of the fees you're suddenly responsible for paying is a $4.55 monthly non-employee account maintenance fee. You could lose $17,905 in fees throughout your career. More: Americans believe this is the No. 1 obstacle to saving for retirement Get a copy of your 401(k) fee schedule Whether it's an old account managed by a former employer or an account you're opening with your new employer, you need to know exactly where to find fee information. A fee schedule is typically buried deep in the 401(k) plan document, making it difficult to find. Knowing what to look for is the key. Your employer must provide documents detailing how much you're paying in fees. The fee-specific document is often called the 401(a)(5) fee disclosure, although it may have another name. If you don't have a copy somewhere at home, you can typically find it on your plan's website or through your company's human resources department. What to look for 401(k) plans label their fees with a variety of names. Here are some of the most common names: As you review the Participant Fee Disclosure, note any terms that suggest a fee. How to know if you're paying too much All 401(k) plans charge fees, and you can't avoid paying them. However, there are steps you can take to keep your costs to a minimum. 401(k) fees usually range from 0.5% to 2% or more of plan assets annually. If the fees associated with your retirement account are more than 0.5%, you're probably paying too much. The chunk of money going to fees each year represents money you could have kept in your retirement account and allowed to grow. What you can do to control 401(k) fees While you won't find a prospectus that covers your 401(k) as a whole, you will find individual prospectuses for each fund in your 401(k). A prospectus is a document that gives you detailed information about each investment, including objectives, expected outcomes, risks, and fees. Most plan administrators provide these documents online. If not, contact your 401(k) administrator or HR department. You may not be able to eliminate fees entirely, but here's what you can do to reduce them: 401(k) fees may not actually be "hidden," but they can definitely be a challenge to find. Knowing how to find them could be your superpower, your way of redirecting money once spent on fees toward investments. The Motley Fool has a disclosure policy. The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY. The $23,760 Social Security bonus most retirees completely overlook Offer from the Motley Fool: If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets"could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. JoinStock Advisorto learn more about these strategies. View the "Social Security secrets" »
Business Insider
7 minutes ago
- Business Insider
Chinese and Indian automakers race to Africa's richest nation amid US trade barriers
South Africa is rapidly cementing its role as a gateway for international automakers, particularly from China and India, with several major brands preparing to launch or expand operations in the country in the coming months. South Africa is emerging as a strategic hub for international automakers, gaining prominence as an entry point to African markets. Prominent brands like Leapmotor, LDV, and Tata Motors are committing to expanding their presence in South Africa in the near future. These developments highlight South Africa's growing influence within the BRICS trade network and as a leader in the continent's EV market. South Africa has recently witnessed a wave of announcements from carmakers such as Leapmotor, LDV, and Tata Motors, all signaling plans to expand into Africa's richest nation. The flurry of activity reflects growing momentum in the continent's automotive sector, as manufacturers seek to capture new markets amid shifting global trade dynamics. The development comes against the backdrop of South Africa's strained relations with the United States, where recent tariff measures have unsettled trade flows. Pretoria has responded by accelerating efforts to diversify its partnerships, turning to Asian and emerging-market players to reduce reliance on Washington. The moves underscore the country's growing influence in the African auto sector and its strategic role within BRICS trade dynamics. Leapmotor, LDV and Tata Motors eye African expansion Chinese new-energy vehicle (NEV) brand Leapmotor is preparing to enter the South African market in September 2025, marking a significant milestone for the Stellantis-backed company. The company will debut the C10 extended-range electric vehicle (EREV) at select Stellantis NV dealerships, with additional models expected next year. Stellantis, Europe's second-largest automaker, holds a 20% stake in Leapmotor and will provide its established sales infrastructure to support the brand's regional rollout. The C10 follows Leapmotor's successful debut in Mauritius, with the company reporting record-breaking deliveries of 48,006 vehicles in June, marking its second consecutive month of record sales. With its focus on electric vehicles, Leapmotor will cater to South Africa's growing demand for sustainable mobility. Mike Whitfield, managing director of Stellantis South Africa and Sub-Saharan Africa noted, 'South Africa offers the right combination of infrastructure, consumer demand, and regional connectivity to grow EV adoption,' Meanwhile, LDV, a sub-brand of China's SAIC Motor Corporation, is preparing to launch its new Terron 9 bakkie at the Festival of Motoring at the Kyalami Grand Prix Circuit from August 28 to 31, 2025. The large pickup aims to compete in South Africa's premium segment alongside models like the Ford Ranger Wildtrak and GWM P500. Since its South African debut last year, LDV has primarily focused on the T60 midsize bakkie for private households. Bevan Nel, CEO of LDV South Africa, described the Terron 9 as the brand's flagship vehicle for the market, 'Exciting times are near as we prepare to launch the Terron 9 at the end of August, starting off with an exclusive sneak peek, we are excited to bring this powerhouse to the South African market.' He said. India's Tata Motors is also making a strategic return to South Africa's passenger vehicle market, targeting SUVs, crossovers, and hatchbacks. According to CarMag, The automaker had stopped exporting cars to the African market in 2017-18, but has now partnered with Motus Holdings Ltd, South Africa's leading passenger vehicle retailer, to distribute its vehicles. The company plans a launch event on August 19, 2025, highlighting both sales and local value creation, including employment across service, parts distribution, and technician training. 'South Africa is an important market in our global expansion journey, ' Yash Khandelwal, head of International Business at Tata Motors Passenger Vehicles said. ' With our class-leading products and a reputed partner in Motus, we are here to offer our South African customers a choice of vehicles that are safe, stylish, and innovation-driven. ' He added. The convergence of these launches underscores South Africa's growing role as Africa's automotive and EV hub, bolstered by BRICS partnerships with China and India. The country's established dealership networks, manufacturing capabilities, and consumer base make it a launchpad for new-energy and mass-market vehicles across the continent. Analysts suggest that South Africa's influence in automotive trade will only increase as more BRICS-based manufacturers view the country as a gateway to Sub-Saharan markets.
The Hill
2 hours ago
- The Hill
GM's quarterly results illustrate the folly of tariffs
General Motors, a cornerstone of American industry, is suffering the consequences of President Trump's unconstitutional 25 percent tariffs on imported vehicles and auto parts. In the second quarter of 2025, GM suffered a $1.1 billion tariff blow to its operating income, slashing the company's profit margin from a healthy 9 percent to just 6.1 percent. Net income plunged by 36.1 percent from the prior quarter and by a staggering 40.7 percent compared to a year ago. Although the estimated tariff impact for the full year of $4 billion to $5 billion is less than 3 percent of GM's overall revenue, that cost represents more than half of the typical annual income for the company over the past decade. The consequences extend far beyond GM's balance sheet. Tariffs, paid by importers to the federal government, are partly absorbed by companies and partly passed to consumers. We've especially seen this in import-sensitive sectors including furnishings, appliances, clothes and toys. Men's shirts and sweaters, for instance, rose 4.9 percent in June alone. When businesses 'eat' the cost, as GM tried to do last quarter, the fallout is no less severe. Diminished earnings mean less capital for investment in better technology or expanded operations, slowing broader economic growth, fewer resources for pay raises or new jobs — hardly the boon for workers that tariff advocates promise. The data confirms this. Nationwide, 14,000 manufacturing jobs disappeared in the past two months, erasing all gains in 2025. In June, real average weekly earnings dropped by 0.4 percent, an annualized loss of nearly 5 percent. Shareholders are also feeling the pinch. Stock valuations track a company's expected future earnings. Since 2012, GM's stock price increased by more than 200 percent. GM's price-to-earnings ratio today stands at 6.83, almost identical to 2012 levels. Stock prices increased alongside earnings. A sustained $5 billion annual hit, wiping out over half of GM's annual net income, could erase more than $20 billion in market capitalization if valuations adjust. With tariffs eroding profits, is it any wonder that GM's stock has slid 8 percent since its post-2024 election peak and now languishes 13 percent off its 2021 highs? This affects millions of middle-class Americans and retirees with pensions and savings invested. More broadly, lower dividends and diminished returns discourage investment, starving companies of the capital needed to expand. The result: slower growth, fewer jobs and weaker wage gains. GM, to its credit, is fighting to offset 30 percent of this burden by boosting U.S. production, cutting costs and increasing domestic content to comply with the USMCA trade agreement's labyrinthine rules. Yet even if successful, the net impact of $2.8 billion to $3.5 billion will devour a significant slice of GM's already thin margins. Profit margins at GM — as in most other sectors — are far less than conventional wisdom. GM's net profit margin over the past decade has averaged less than 5 percent. In other words, a $30,000 vehicle yields less than $1,500 in profit. GM's plans to shift some production to U.S. plants and rework supply chains is a testament to private enterprise's resilience. But make no mistake: These shifts sacrifice efficiency for compliance. Restructuring operations in a free market in pursuit of efficiency yields more profit, consumer benefit and economic growth. Doing so under duress to escape arbitrary tariffs may result in survival, but without these benefits. Resources that could have fueled innovation or lowered prices are now squandered on navigating artificial trade barriers. As an important sidenote, roughly half the tariff's cost stems from GM's South Korean operations, a stark reminder of the folly of taxing trade with allies. Rather than strengthening ties with democratic partners through bold free-trade agreements, these tariffs risk pushing nations like South Korea toward China, America's chief adversary. Far from economic strategy, it is geopolitical shortsightedness. Politicians sometimes prefer tariffs to other forms of taxation because they are less visible than taxes on income or sales. This makes it easier to dodge accountability by blaming 'greedy' corporations. For this reason, Trump called Jeff Bezos to deter Amazon from listing tariff costs on purchases. The White House press secretary labeled this a 'hostile and political act by Amazon.' Regardless, protectionism is not cost-free. Sustained tariffs will raise prices, shrink profits, erode real wages and slow economic growth. GM's quarterly results are a warning.
