Amazon Will Offer OpenAI Models to Customers for First Time
The models can mimic the human process of reasoning, months after China's DeepSeek gained global attention with its own open AI software. Amazon said it will offer the tools on its Bedrock and Sagemaker platforms, adding that their advanced reasoning capabilities make them suited for AI agents.
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New US tariffs cloud outlook for exporters in Asia and beyond
BANGKOK (AP) — President Donald Trump's new tariff rates on U.S. imports from dozens of countries took effect Thursday, the latest chapter in the saga of Trump's reshaping of global trade. But many questions remain. Trump has threatened tariffs of up to 200% on imports of pharmaceuticals and has ordered a 100% import tax on computer chips. Most U.S. imports of copper, steel and aluminum are subject to a 50% tariff. There's still no agreement on what tariffs might apply to products shipped from China. India has no deal yet and faces a potential 50% tariff as Trump pressures it to stop buying oil from Russia. Recent data shows uncertainty is clouding the outlook for exporters around the world as a rush to beat the tariffs during a pause for negotiation tapers off. Companies are reporting billions of dollars in higher costs or losses due to the higher import duties. Global financial markets took Thursday's tariff adjustments in stride, with Asian shares and U.S. futures mostly higher. Here's where things stand in what has proven to be a fast-changing policy landscape. The tariffs taking effect this week The tariffs announced on Aug. 1 apply to 66 countries, Taiwan and the Falkland Islands. They are a revised version of what Trump called " reciprocal tariffs," announced on April 2: import taxes of up to 50% on goods from countries that have a trade surplus with the United States, along with 10% 'baseline'' taxes on almost everyone else. That move triggered sell-offs in financial markets and Trump backtracked to allow time for trade talks. The president has bypassed Congress, which has authority over taxes, by invoking a 1977 law to declare the trade deficit a national emergency. That's being challenged in court, but the revised tariffs still took effect. To keep their access to the huge American market, major trading partners have struck deals with Trump. The United Kingdom agreed to 10% tariffs and the European Union, South Korea and Japan accepted U.S. tariffs of 15%. Those are much higher than the low single-digit rates they paid last year, but down from the 30% Trump had ordered for the EU and the 25% he ordered for Japan. Countries in Africa and Asia are mostly facing lower rates than the ones Trump decreed in April. Thailand, Pakistan, South Korea, Vietnam, Indonesia and the Philippines cut deals with Trump, settling for rates of around 20%. Indonesia views its 19% tariff deal as a leg up against exporters in other countries that will have to pay slightly more, said Fithra Faisal Hastiadi, a spokesperson in the Indonesian president's office. 'We were competing against Vietnam, India, Bangladesh, Sri Lanka and China ... and they are all subject to higher reciprocal tariffs,' Hastiadi said. 'We believe we will stay competitive.' The latest situation for China and India Trump has yet to announce whether he will extend an Aug. 12 deadline for reaching a trade agreement with China that would forestall earlier threats of tariffs of up to 245%. Treasury Secretary Scott Bessent said the president is deciding about another 90-day delay to allow time to work out details of an agreement setting tariffs on most products at 50%, including extra import duties related to illicit trade in fentanyl. Higher import taxes on small parcels from China have hurt smaller factories and layoffs have accelerated, leaving some 200 million workers reliant on 'flexible work' — the gig economy — for their livelihoods, the government estimates. India also has no broad trade agreement with Trump. On Wednesday, Trump he signed an executive order placing an extra 25% tariff for its purchases of Russian oil, bringing combined U.S. tariffs to 50%. India's Foreign Ministry has stood firm, saying it began importing oil from Russia because traditional supplies were diverted to Europe after the outbreak of the Ukraine conflict, a 'necessity compelled by the global market situation.' The hardest-hit countries Struggling, impoverished Laos and war-torn Myanmar and Syria face 40-41% rates. Trump whacked Brazil with a 50% import tax largely because he's unhappy with its treatment of former Brazilian President Jair Bolsonaro. South Africa said the steep 30% rate Trump has ordered on the exporter of precious gems and metals has put 30,000 jobs at risk and left the country scrambling to find new markets outside the United States. Even wealthy Switzerland is under the gun. Swiss officials were visiting Washington this week to try to stave off a whopping 39% tariff on U.S. imports of its chocolate, watches and other products. The rate is over 2 1/2 times the 15% rate on European Union goods exported to the United States. Canada and Mexico have their own arrangements Goods that comply with the 2020 United States-Mexico-Canada Agreement that Trump negotiated during his first term are excluded from the tariffs. Even though U.S. neighbor and ally Canada was hit by a 35% tariff after it defied Trump, a staunch supporter of Israeli Prime Minister Benjamin Netanyahu, by saying it would recognize a Palestinian state, nearly all of its exports to the U.S. remain duty free. Canada's central bank says 100% of energy exports and 95% of other exports are compliant with the agreement since regional rules mean Canadian and Mexico companies can claim preferential treatment. The slice of Mexican exports not covered by the USMCA is subject to a 25% tariff, down from an earlier rate of 30%, during a 90-day negotiating period that began last week. The outlook for businesses Surveys of factory managers offer monthly insights into export orders, hiring and other indicators of how businesses are faring. The latest figures in the United States and globally mostly showed conditions deteriorating. In Japan, factory output contracted in July, purchasing activity fell and hiring slowed, according to the S&P Global Manufacturing PMI. But the data were collected before Trump announced a trade deal that cut tariffs on Japanese exports to 15% from 25%. Similar surveys show a deterioration in manufacturing conditions worldwide, as a boost from 'front loading' export orders to beat higher tariffs faded, S&P Global said. Similar measures for service industries have remained stronger, reflecting more domestic business activity. In Asia, that includes a rebound in tourism across the region. Corporate bottom lines are also taking a hit. Honda Motor said Wednesday that it estimates the cost from higher tariffs at about $3 billion. On top that, the U.S. economy — Trump's trump card as the world's biggest market — is starting to show pain from months of tariff threats. ___ Associated Press writer Niniek Karmini in Jakarta and Aniruddha Ghosal in Hanoi contributed. Elaine Kurtenbach, The Associated Press Sign in to access your portfolio
Yahoo
21 minutes ago
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Joby Aviation (JOBY) Reaches Milestone in FAA Certification with First Conforming Aircraft
Joby Aviation recently announced its preparation for the final assembly of its first conforming aircraft for the Type Inspection Authorization (TIA) flight tests, a crucial milestone aligning with FAA standards. This development underscores the company's significant progress towards commercialization and may have contributed to the impressive 185% share price increase over the last quarter. The market's general upward trend during this period would have supported such a remarkable rise. Joby's advances in product development, strategic alliances, and facility expansion likely added weight to its price movement as investors remain optimistic about its future. We've identified 5 possible red flags with Joby Aviation (at least 1 which is a bit concerning) and understanding the impact should be part of your investment process. AI is about to change healthcare. These 26 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. Over the past year, Joby Aviation's shares experienced an impressive total return of 285.54%. This exceptional performance stands in stark contrast to the US market's 22.4% return over the same period and the US Airlines industry's 82.1% return, highlighting Joby's substantial gain relative to its peers and the broader market. The developments mentioned in the introduction, particularly Joby's advancements in conforming aircraft assembly and strategic partnerships, could significantly influence revenue and earnings forecasts. Despite a current revenue of just US$111,000 and being forecast to remain unprofitable over the next three years, these milestones may lay the groundwork for future growth. However, the high share price, presently at US$18.93, has surpassed analysts' consensus price target of US$8.75, indicating a significant premium compared to expectations. This disparity suggests heightened market optimism, which investors should consider when evaluating Joby's long-term prospects. Our expertly prepared valuation report Joby Aviation implies its share price may be too high. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include JOBY. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data
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21 minutes ago
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Axon Enterprise (AXON) Sees Q2 Revenue Rise To US$669 Million
Axon Enterprise recently reported its second-quarter 2025 earnings, showcasing a revenue growth to $669 million, up from $503 million a year ago, while net income experienced a decline to $36 million from $41 million. Concurrently, the company upgraded its full-year revenue guidance, suggesting optimistic future sales expectations. These events, coupled with a generally positive market environment, where the S&P 500 and Nasdaq Composite posted solid gains while digesting various earnings and global trade developments, likely provided a backdrop that supported the company's 26% share price surge over the past quarter. The market's robust performance perhaps added momentum to Axon's share price movements, complementing the company's adjusted forward guidance. Every company has risks, and we've spotted 2 possible red flags for Axon Enterprise you should know about. Find companies with promising cash flow potential yet trading below their fair value. The recent earnings announcement and revenue guidance upgrade could enhance Axon's narrative by underscoring its potential for continued growth, particularly through international expansion and AI-driven products. Despite the quarterly net income decline, the revenue jump to US$669 million points to successful product rollouts and market demand, which may positively influence future revenue and earnings forecasts. However, political and competitive risks could still introduce volatility in their earnings potential. Over the long term, Axon's shares have delivered a very large total return exceeding 982% over five years, suggesting significant value creation and growth beyond short-term fluctuations. This impressive performance contrasts with its one-year return, which exceeded the broader US market's 22.4% and the Aerospace & Defense industry's 40% return, highlighting Axon's robust market position. With the stock currently priced at US$863.65, its alignment with the analyst price target of US$873.67 suggests limited immediate upside, reflecting a modest 1.16% discount to the price target. This relatively small difference indicates analysts believe Axon's shares are fairly priced, and future price movements may depend on the company meeting or exceeding revenue and earnings expectations spurred by current positive developments and strategic initiatives. Assess Axon Enterprise's future earnings estimates with our detailed growth reports. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AXON. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data
