Ford CEO on Earnings, EV Offerings, Tariffs
Ford Motor Co. says profits will fall as much as 36% this year due to President Donald Trump's tariffs. Ford CEO Jim Farley talks about that, earnings, electric vehicles and expanding its hybrid lineup. Earnings of 37 cents a share did beat Wall Street estimates. Farley is on "Bloomberg The Close." (Source: Bloomberg)
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Bills decline comment, while RB Cook cites 'business' as reason he didn't participate in practice
PITTSFORD, N.Y. (AP) — The Buffalo Bills aren't commenting on the reason behind James Cook not participating in practice on Sunday in what could be viewed as the running back's next step in escalating his bid to extend the final year of his contract. Cook, who watched the two-hour session from the sideline in an all-white track suit, was not included in a lengthy list of injured players coach Sean McDermott provided reporters before practice. While the Bills declined comment on the player's status in a text to The Associated Press, Cook reiterated the word 'business' numerous times following practice in explaining his status to reporters from The Buffalo News and ESPN. 'Business,' was Cook's one-word response when asked if it was his choice to not practice, The Buffalo News reported. As for whether he anticipated practicing on Monday, Cook said: 'Business. That's all I'm going to say. Business.' Messages left with Cook's representatives were not returned. A second-round pick in the 2022 draft, Cook was the NFL's co-leader with 16 touchdowns rushing in his second full season as a starter. The 25-year-old has made no secret this offseason of his desire for a new contract that would pay him in the range of $15 million a year in what would make him among the league's highest-paid players at his position. Though Cook skipped all of the team's voluntary sessions this spring, he had previously taken part in each of the Bills mandatory practices, including their first eight of training camp before Sunday. Cook said 'I like my money, that's why I'm here,' upon reporting for Buffalo's three-day mandatory camp in June. He provided a similar answer to open training camp, while insisting he's confident he'll get his payday whether it's in Buffalo or elsewhere. Cook said he didn't want his contract situation to become a distraction. Bills general manager Brandon Beane opened camp by saying the two sides remained in contact. He reiterated how he wanted nothing more than to reach an agreement while acknowledging the team had limited room under the salary cap. ___ AP NFL:
Yahoo
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White's two homers drive Braves to 4-2 win over Reds in MLB Speedway Classic
Eli White belted two home runs to propel the Atlanta Braves across the finish line with a 4-2 victory over the Cincinnati Reds in Major League Baseball's "Speedway Classic" at Bristol Motor Speedway on Sunday. The unique contest on a specially built ballpark on the infield of the US stock car oval track had to resort to a restart after heavy rain brought out the red flag with less than an inning completed and the Reds up 1-0 on Saturday. MLB announced a record attendance of 91,032, and those that made it back on Saturday were treated to a show by White, who was in the lineup because Ronald Acuna Jr. was sent to the injured list with a calf strain on Tuesday. White belted a three-run homer off Reds pitcher Brent Suter in the second inning, a 411-foot (125m) blast that bounced off the banked track beyond the left field wall, hit the safer barrier and gave Atlanta a 3-1 lead. As White rounded the bases, a race car decked out in red, white and blue circled the racetrack, a passenger holding a "Home Run" flag out the window. White brought out the Home Run Car again in the seventh, leading off the inning with a solo homer off Scott Barlow. The 31-year-old posted the second multi-homer game of his career and his first with four runs-batted-in. "It's super-special for me," White said. "Being here, just trying to soak it all in and be able to have a big day and come through for the team is just something I'll cherish for a long time." A throng of fans -- lured by the novelty of the event, a pre-game concert and a chance to break the 71-year-old MLB regular-season attendance record of 84,587 -- had waited through two rain delays totalling more than two hours on Saturday night before MLB postponed until Sunday. When play resumed, Hurston Waldrep was pitching for Atlanta, having traveled some 250 miles on Sunday morning after being called up from the minor leagues. He surrendered one run over 5 2/3 innings for his first major league win in his third MLB start. Despite the weather, players were enthusiastic about the event at the iconic 64-year-old racetrack in rural northeastern Tennessee, which typically fills all 146,000 seats for NASCAR series races. - 'Incredible opportunity' - "Never really dreamed of this," Cincinnati's Spencer Steer said Saturday. "You think of 85,000 people you think of NFL or college football. A very incredible opportunity." In 2016, a collegiate American football game in the speedway infield dubbed the Battle at Bristol drew 156,990 fans to see Tennessee beat Virginia Tech 45-24. An NFL exhibition game on the Bristol infield between Washington and Philadelphia in 1961 drew only 8,500 spectators back when seating capacity was only 18,000. MLB built its field in the infield between turns three and four, bringing in several tons of gravel to create a level field and removing a building from what would become the outfield. Celebrities in attendance included baseball Hall of Famers Johnny Bench and Chipper Jones and NASCAR stars Kyle Busch and Chse Elliott. "My first thought is I can't believe they did all this for one game," Braves first baseman Matt Olson said. "It's pretty incredible." MLB's previous regular-season games at special venues included at the Field of Dreams movie ballpark in an Iowa cornfield in 2021 and 2022. MLB has also staged regular-season games in Australia, South Korea, Japan, England, Mexico and Puerto Rico. bb/js
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Trump officials scramble to justify firing of economic statistician – as critics say ‘scary' move is a sign of ‘authoritiarianism'
Members of Donald Trump's team scrambled to provide coherent explanations for the sudden firing of a top official at the Bureau of Labor Statistics on Sunday as Friday's firing resonated throughout Washington and left the White House open to criticism of Trump's 'authoritarian' leanings. The US president directed the firing of Erika McEntarfer on Friday after a jobs report showed private companies adding just 73,000 positions in July, a drop from projections and a further sign that the Trump economy is stalling in the face of growing uncertainty around the president's tariff agenda. McEntarfer's firing was immediately denounced by her Trump-appointed predecessor and numerous others in Washington. Republicans on the Hill struggled to defend it, while members of Donald Trump's team insisted in interviews that the president and the nation needed what he called 'reliable' numbers. Trump accused McEntarfer of cooking the numbers on Kamala Harris's behalf during the 2024 election, and now working to make him look bad, a notion even the president's own advisers wouldn't echo directly. Kevin Hassett, director of the White House economic council, led the efforts to defend the president's decision-making on Sunday. He was joined by Jamieson Greer, the US trade representative. Hassett directly contradicted the president during his interview on Fox News Sunday with Shannon Bream; he argued that it was the formula by which the BLS determined job market gains — not malicious activity by McEntarfer — which needed to be addressed. Pointing to a letter from McEntarfer's predecessors, Bream asked Hassett: 'They're saying it's not good to cast aspersions on what's being done because it's a formula. It's used the same way every single time. So are you saying maybe the formulas, the calculations need to change?' 'That's right. They really need to get back to ground zero and find out why these numbers are so unreliable,' said Hassett.' "The data can't be propaganda. The data has to be something you can trust, because decision-makers throughout the economy trust that these are the data that they can build a factory because they believe, or cut interest rates because they believe. And if the data aren't that good, then it's a real problem for the US,' Hassett continued. He and others pointed to the agency revising totals for May and June as evidence that the BLS required changes: 'We expect more big revisions for the jobs data in September, for example ... we want to know why, we want people to explain it to us.' Greer, during a pre-taped interview with CBS's Face the Nation, backed up Hassett's claims that sharp revisions dating back to 2024 were evidence of the numbers produced by the agency being unreliable. "You want to be able to have somewhat reliable numbers,' he said. 'There are always revisions, but sometimes you see these revisions go in really extreme ways.' But there's still nothing linking McEntarfer to the kind of nefarious activity which Trump alleged she was up to in a Truth Social post. 'I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes,' Trump wrote on Friday. He added: 'In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad — Just like when they had three great days around the 2024 Presidential Election, and then, those numbers were 'taken away' on November 15, 2024, right after the Election.' No one on the president's team has attempted to present any evidence backing up Trump's claims. A number of McEntarfer's predecessors and other top officialst at the BLS fired back in a statement from a group called the 'Friends of the BLS': 'The President seeks to blame someone for unwelcome economic news.' The president's critics said that the firing and unsupported explanation meant that future figures released by the agency would be thrown into question and was an example of Trump desiring ability to dictate the creation of phony statistics. 'This is the stuff of democracies giving way to authoritarianism,' warned Larry Summers, former director of the White House economic council under Biden (and Hassett's predecessor), on ABC's This Week. 'This is really scary stuff, and it can hardly be surprising that when the rule of law is in a bit question that there's a big uncertainty premium in the markets.' He went on to argue that Trump's battering of Fed Chair Jerome Powell followed in a similar vein, and was behind much of the uncertainty curbing U.S. investments on Wall Street. Friday marked the resumption of Trump's reciprocal tariffs; enforcement of rates as high as 50% on some U.S. trading partners will resume this week. Economists largely agree that those tariffs are driving up consumer prices and stifling U.S. investment rather than encouraging the return of manufacturing plants to America as companies continue to evaluate new costs stemming from Trump's import duties. The job numbers put out by the BLS on a monthly basis are some of the most important statistics gathered by the U.S. government in terms of their ability to move financial markets around the world. Experts say the sharp revisions are a result of more accurate data collection efforts.
