Mexico Fined Financial Firms Targeted by US Over Drug Claims
Intercam Banco SA and its brokerage were fined 92 million Mexican pesos for violations of anti-money laundering rules such as failing to have an automated registry of unusual activity or follow its own guidelines on high risk clients, according to newly released data in regulator CNBV's database of fines. CIBanco SA and its brokerage were fined nearly 67 million pesos, also under anti-money laundering rules, for failing to maintain records and processing inordinate amounts of US dollars in cash.
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Yahoo
17 minutes ago
- Yahoo
Manufacturers Urged to Act With Technology-First Plans as Disruption Intensifies, Says Info-Tech Research Group in New Report
With volatility across supply chains, energy markets, and labor, manufacturing CIOs are being pushed beyond traditional cost containment strategies to enable rapid digital transformation and operational resilience. Insights from Info-Tech Research Group's newly published blueprint, Adapt to Uncertainty With a Technology-First Action Plan for Manufacturing, outline a six-pillar strategy to help IT leaders address disruption, prioritize innovation, and build a technology-first foundation for growth. TORONTO, Aug. 11, 2025 /PRNewswire/ - With renewed volatility across supply chains, energy markets, labor availability, and regulatory environments, manufacturers are once again confronting a wave of operational and strategic disruption, according to new research findings from Info-Tech Research Group. As CIOs are increasingly being asked to reduce spending while also enabling automation, AI adoption, and tighter integration across IT and operational systems, the global IT research and advisory firm has published a comprehensive framework to support IT leaders in the manufacturing sector in navigating uncertainty and driving strategic outcomes. Grounded in proven research and developed by expert analysts, Info-Tech's blueprint, titled Adapt to Uncertainty With a Technology-First Action Plan for Manufacturing, outlines how a technology-first plan can help manufacturing organizations shift from reactive decision-making to proactive resilience by using IT to enhance visibility, accelerate transformation, and maintain momentum through uncertainty. "Cost-cutting in times of crisis works. But doubling down on innovation works even better," says Shreyas Shukla, a principal research director at Info-Tech Research Group. "Manufacturing leaders can no longer afford to take a wait-and-see approach. A technology-first mindset enables faster response, more informed decisions, and the ability to reconfigure operations with confidence when disruption strikes." A Dual Reality for CIOs in ManufacturingInfo-Tech's research insights highlight the operational challenges threatening performance and margin in the sector. The Adapt to Uncertainty With a Technology-First Action Plan for Manufacturing blueprint identifies the following six key pressures: Global Supply Chain Disruption & Re-shoring – Geopolitical shifts and rising transportation costs are driving demand for visibility and risk analytics tools. Volatile Energy Markets – Unstable industrial energy pricing requires IT/OT integration for consumption tracking and smarter energy management. Talent Shortages – Skills gaps in both trades and digital functions are accelerating the need for automation, knowledge capture, and low-code enablement. Capital Constraints – Inflation and high interest rates are forcing tough decisions between near-term survival and long-term transformation. Legacy and Fragmented Tech – Aging systems and siloed architectures hinder integration, scalability, and security. Regulatory Uncertainty – Evolving cyber, trade, and ESG mandates require adaptable, compliance-ready platforms. Info-Tech's Six-Pillar Technology-First Action PlanTo help manufacturing organizations regain control, Info-Tech advises a practical, six-pillar strategy focused on turning uncertainty into a source of strength. Designed with adaptability in mind, the framework found in the new blueprint supports IT leaders in balancing short-term operational needs with long-term innovation, while embedding agility into the digital foundation of manufacturing environments: Lead the Organization, Not Just IT – Proactively neutralize uncertainty by applying Exponential IT principles and delivering real-time visibility, flexible production, and digital twin capabilities. Fund Innovation by Cutting Costs – Free up budget for innovation by consolidating legacy infrastructure, renegotiating vendor contracts, and benchmarking IT spending. Pursue IT Excellence – Continue investing in mission-critical capabilities such as plant connectivity, real-time analytics, and end-to-end supply chain integration. Build an Adaptive IT Workforce – Retain institutional knowledge, upskill internally, and lead talent strategy with agility-focused digital capabilities. Slash Your AI Transformation Timeline – Prioritize immediate ROI through proven vendor-led AI tools for defect detection, predictive maintenance, and operational analytics. Execute and Prepare to Pivot – Develop execution frameworks, establish outcome-based funding, and enable fast course correction with real-time data. Outcomes That Extend Beyond ITThe firm's research-backed resource illustrates how a technology-first transformation can elevate enterprise value by aligning IT capabilities with core business outcomes. Through strategic modernization and more innovative digital execution, the research findings show that manufacturers can unlock benefits such as operational agility, cost optimization, customer confidence, as well as enhanced product quality and engineering velocity. Grounded in proven research and developed by expert analysts, Info-Tech's blueprint provides a comprehensive framework for CIOs and IT leaders in the manufacturing sector to navigate uncertainty and drive strategic outcomes. The resource combines practical tools, step-by-step methodologies, and implementation templates with a four-phase approach that includes assessing macro uncertainties, analyzing IT budgets and workforce alignment, building a focused 12-month technology roadmap, and preparing the organization for execution with a clear value narrative and communication plan. By translating complex challenges into structured, actionable steps, the firm's approach enables manufacturers to stay responsive, reduce transformation fatigue, and lead with confidence through prolonged disruption. For exclusive and timely commentary from Info-Tech's experts, including Shreyas Shukla, and access to the complete Adapt to Uncertainty With a Technology-First Action Plan for Manufacturing blueprint, please contact pr@ About Info-Tech Research GroupInfo-Tech Research Group is one of the world's leading research and advisory firms, serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations. To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services, and SoftwareReviews for software buying insights. Media professionals can register for unrestricted access to research across IT, HR, and software, and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact pr@ For information about Info-Tech Research Group or to access the latest research, visit and connect via LinkedIn and X. View original content to download multimedia: SOURCE Info-Tech Research Group
Yahoo
17 minutes ago
- Yahoo
Trump tariffs live updates: Trump says gold will not face a tariff; Nvidia, AMD agree to unusual revenue deal
President Trump on Monday said imports of gold (GC=F) to the US would not face a tariff. "Gold will not be Tariffed!" Trump wrote on social media. Gold futures were little changed after Trump's post. Prices for the metal were sliding on Monday. The White House had said last week that the administration would issue a new policy clarifying whether gold bars would be subject to duties after a US government agency said they would, prompting chaos and confusion in the market. Elsewhere on Monday, Nvidia (NVDA) and AMD (AMD) agreed to pay the US 15% of the revenue for AI-related chip sales to China, adding a monetization layer to the Trump administration's tariff policy that has reoriented global trade relationships. The New York Times reported that Nvidia CEO Jensen Huang agreed to the arrangement, which is "essentially making the federal government a partner in Nvidia's business in China," at a meeting with President Trump on Wednesday and that licenses for the chip sales followed on Friday. On Monday morning, AMD confirmed that "initial" China licenses for AI chips were approved. "To call this unusual or unprecedented would be a staggering understatement," Stephen Olson, a former US trade negotiator, told Bloomberg. "What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export. If that's the case, we've entered into a new and dangerous world." The chips include Nvidia's H20 AI accelerator and AMD's MI308 chips, which the Trump administration had previously targeted with export controls. Also on Sunday, Trump urged China to quadruple soybean purchases ahead of an Tuesday deadline for the countries to extend their truce from sky-high tariffs on each other. Asked if he'd extend that deadline, Trump said Monday, "We'll see what happens," but added that China has been "dealing quite nicely" with the US. Trump's latest sweeping "reciprocal" tariffs hit US trade partners last week. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump says, 'Gold will not be Tariffed!' President Trump posted on social media that gold will not be subject to tariffs after a surprise US Customs and Border Protection (CBP) ruling sparked confusion over whether the precious metal faced duties. "A Statement from Donald J. Trump, President of the United States of America: Gold will not be Tariffed!" Trump wrote on Truth Social on Monday afternoon. On Friday, the Financial Times reported that CBP classified Swiss one-kilogram and 100-ounce bars of gold as subject to 39% tariffs recently imposed on Switzerland by the Trump administration. Gold futures (GC=F) declined 2.5% early on Monday as investors awaited clarity from the White House over its trade position on the precious metal amid reports that imports of Swiss gold bars would not be exempt from tariffs. Small US firms paying Trump tariffs face $202B annual hit Small US businesses are struggling to comply with President Trump's new tariffs. These companies, which are the source of more than half of the country's job creation are also finding it hard to cope with the growing financial strain from higher import costs. Bloomberg News: Read more here. Trump on China extension: We'll see what happens President Trump said China has been "dealing quite nicely" with the US, a possible hint that his administration is preparing to extend the countries' trade truce past a deadline that expires Tuesday. "We'll see what happens," he said during a White House press conference, adding, "They've been dealing quite nicely." The countries have held multiple rounds of trade talks during the 90-day suspension of sky-high tariffs on each other. Both sides have hailed progress in those talks. An extension into the fall could potentially set up a Trump meeting with Chinese leader Xi Jinping, which Trump has suggested could happen before the end of the year. Swiss government to meet pharma firms to discuss US tariffs The Swiss government is due to meet this week with leaders from Swiss pharmaceutical companies Roche and Novartis, which have faced pressure from President Trump to lower their drug prices in the US. The meeting comes as Switzerland aims to negotiate for a lower tariff rate than the 39% rate the Trump administration imposed last week. And should Trump follow through on pharmaceutical tariffs as well, Roche and Novartis are considered to be more exposed, as they have comparatively fewer US manufacturing sites. From Reuters: Read more here. New gold tariffs are in effect. Will Costco gold bars be affected? Gold (GC=F) has been surging all year, and buying gold bars from Costco is just about the easiest way to get your hands on the precious metal — if you're lucky enough to find them in stock. However, the surprising announcement of additional tariffs on gold bars by US Customs and Border Protection (CBP) left many wondering if the duties applied to Costco's gold bars as well. Yahoo Finance's Hal Bundrick reports: Read more here. US consumers to bear brunt of tariff hit: Goldman Goldman Sachs GS) says that President Trump's tariffs are only beginning to raise prices for shoppers, adding more uncertainty to the Treasury market where investors are unsure about how quickly interest rates will be cut. Bloomberg News reports: Read more here. Nvidia, AMD to pay 15% on China AI chip sales in US deal Nvidia (NVDA) and AMD (AMD) have agreed to give 15% of their revenue from AI chip sales in China to the US government. This deal helps them get export licenses but is an unusual step that might worry both companies and Beijing. Nvidia will share 15% of earnings from its H20 AI accelerator in China, while AMD will do the same for its MI308 chip. Bloomberg News reports: Read more here. Why Trump's soybean ask of China is 'highly unlikely' China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Swiss economy seen weathering Trump's tariff shock for now Bloomberg News reports: Read more here. Commentary: Tariffs are denting profits, and maybe soon your portfolio With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. A 240-year-old Swiss watchmaker's race to beat Trump's tariff deadline It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. Tariffs are starting to squeeze farmers' profits President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. The US has slapped a 39% tariff on Switzerland, leaving the country's leaders reeling Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Trump says US court ruling against tariff authority 'would be 1929 all over again' Yahoo Finance's Alexis Keenan reports: Read more here. Carney is patching up ties with Mexico in face of Trump threats Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Swiss plane maker Pilatus halts business jet deliveries to US over tariffs Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. China defends buying Russian oil after Trump's tariff threat China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. Gold bar tariff surprise gives new blow to Switzerland The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here. Trump says, 'Gold will not be Tariffed!' President Trump posted on social media that gold will not be subject to tariffs after a surprise US Customs and Border Protection (CBP) ruling sparked confusion over whether the precious metal faced duties. "A Statement from Donald J. Trump, President of the United States of America: Gold will not be Tariffed!" Trump wrote on Truth Social on Monday afternoon. On Friday, the Financial Times reported that CBP classified Swiss one-kilogram and 100-ounce bars of gold as subject to 39% tariffs recently imposed on Switzerland by the Trump administration. Gold futures (GC=F) declined 2.5% early on Monday as investors awaited clarity from the White House over its trade position on the precious metal amid reports that imports of Swiss gold bars would not be exempt from tariffs. President Trump posted on social media that gold will not be subject to tariffs after a surprise US Customs and Border Protection (CBP) ruling sparked confusion over whether the precious metal faced duties. "A Statement from Donald J. Trump, President of the United States of America: Gold will not be Tariffed!" Trump wrote on Truth Social on Monday afternoon. On Friday, the Financial Times reported that CBP classified Swiss one-kilogram and 100-ounce bars of gold as subject to 39% tariffs recently imposed on Switzerland by the Trump administration. Gold futures (GC=F) declined 2.5% early on Monday as investors awaited clarity from the White House over its trade position on the precious metal amid reports that imports of Swiss gold bars would not be exempt from tariffs. Small US firms paying Trump tariffs face $202B annual hit Small US businesses are struggling to comply with President Trump's new tariffs. These companies, which are the source of more than half of the country's job creation are also finding it hard to cope with the growing financial strain from higher import costs. Bloomberg News: Read more here. Small US businesses are struggling to comply with President Trump's new tariffs. These companies, which are the source of more than half of the country's job creation are also finding it hard to cope with the growing financial strain from higher import costs. Bloomberg News: Read more here. Trump on China extension: We'll see what happens President Trump said China has been "dealing quite nicely" with the US, a possible hint that his administration is preparing to extend the countries' trade truce past a deadline that expires Tuesday. "We'll see what happens," he said during a White House press conference, adding, "They've been dealing quite nicely." The countries have held multiple rounds of trade talks during the 90-day suspension of sky-high tariffs on each other. Both sides have hailed progress in those talks. An extension into the fall could potentially set up a Trump meeting with Chinese leader Xi Jinping, which Trump has suggested could happen before the end of the year. President Trump said China has been "dealing quite nicely" with the US, a possible hint that his administration is preparing to extend the countries' trade truce past a deadline that expires Tuesday. "We'll see what happens," he said during a White House press conference, adding, "They've been dealing quite nicely." The countries have held multiple rounds of trade talks during the 90-day suspension of sky-high tariffs on each other. Both sides have hailed progress in those talks. An extension into the fall could potentially set up a Trump meeting with Chinese leader Xi Jinping, which Trump has suggested could happen before the end of the year. Swiss government to meet pharma firms to discuss US tariffs The Swiss government is due to meet this week with leaders from Swiss pharmaceutical companies Roche and Novartis, which have faced pressure from President Trump to lower their drug prices in the US. The meeting comes as Switzerland aims to negotiate for a lower tariff rate than the 39% rate the Trump administration imposed last week. And should Trump follow through on pharmaceutical tariffs as well, Roche and Novartis are considered to be more exposed, as they have comparatively fewer US manufacturing sites. From Reuters: Read more here. The Swiss government is due to meet this week with leaders from Swiss pharmaceutical companies Roche and Novartis, which have faced pressure from President Trump to lower their drug prices in the US. The meeting comes as Switzerland aims to negotiate for a lower tariff rate than the 39% rate the Trump administration imposed last week. And should Trump follow through on pharmaceutical tariffs as well, Roche and Novartis are considered to be more exposed, as they have comparatively fewer US manufacturing sites. From Reuters: Read more here. New gold tariffs are in effect. Will Costco gold bars be affected? Gold (GC=F) has been surging all year, and buying gold bars from Costco is just about the easiest way to get your hands on the precious metal — if you're lucky enough to find them in stock. However, the surprising announcement of additional tariffs on gold bars by US Customs and Border Protection (CBP) left many wondering if the duties applied to Costco's gold bars as well. Yahoo Finance's Hal Bundrick reports: Read more here. Gold (GC=F) has been surging all year, and buying gold bars from Costco is just about the easiest way to get your hands on the precious metal — if you're lucky enough to find them in stock. However, the surprising announcement of additional tariffs on gold bars by US Customs and Border Protection (CBP) left many wondering if the duties applied to Costco's gold bars as well. Yahoo Finance's Hal Bundrick reports: Read more here. US consumers to bear brunt of tariff hit: Goldman Goldman Sachs GS) says that President Trump's tariffs are only beginning to raise prices for shoppers, adding more uncertainty to the Treasury market where investors are unsure about how quickly interest rates will be cut. Bloomberg News reports: Read more here. Goldman Sachs GS) says that President Trump's tariffs are only beginning to raise prices for shoppers, adding more uncertainty to the Treasury market where investors are unsure about how quickly interest rates will be cut. Bloomberg News reports: Read more here. Nvidia, AMD to pay 15% on China AI chip sales in US deal Nvidia (NVDA) and AMD (AMD) have agreed to give 15% of their revenue from AI chip sales in China to the US government. This deal helps them get export licenses but is an unusual step that might worry both companies and Beijing. Nvidia will share 15% of earnings from its H20 AI accelerator in China, while AMD will do the same for its MI308 chip. Bloomberg News reports: Read more here. Nvidia (NVDA) and AMD (AMD) have agreed to give 15% of their revenue from AI chip sales in China to the US government. This deal helps them get export licenses but is an unusual step that might worry both companies and Beijing. Nvidia will share 15% of earnings from its H20 AI accelerator in China, while AMD will do the same for its MI308 chip. Bloomberg News reports: Read more here. Why Trump's soybean ask of China is 'highly unlikely' China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Swiss economy seen weathering Trump's tariff shock for now Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Commentary: Tariffs are denting profits, and maybe soon your portfolio With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. A 240-year-old Swiss watchmaker's race to beat Trump's tariff deadline It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. Tariffs are starting to squeeze farmers' profits President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. The US has slapped a 39% tariff on Switzerland, leaving the country's leaders reeling Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Trump says US court ruling against tariff authority 'would be 1929 all over again' Yahoo Finance's Alexis Keenan reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. Carney is patching up ties with Mexico in face of Trump threats Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Swiss plane maker Pilatus halts business jet deliveries to US over tariffs Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. China defends buying Russian oil after Trump's tariff threat China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. Gold bar tariff surprise gives new blow to Switzerland The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here. The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here.
Yahoo
17 minutes ago
- Yahoo
Diversified Foodservice Supply Appoints Lev Peker as Chief Executive Officer
VERNON HILLS, Ill., Aug. 11, 2025 /PRNewswire/ -- Diversified Foodservice Supply (DFS), a leading provider of equipment, supplies, and parts to the foodservice industry, is pleased to announce the appointment of Lev Peker as Chief Executive Officer. Peker brings a strong track record of leadership and growth from the automotive aftermarket industry, where he excelled as CEO of PartsID and There, he successfully scaled operations, enhanced customer experience, and delivered strong financial results. His deep expertise in e-commerce, operational efficiency, and system modernization aligns closely with DFS's strategic priorities. Known for his passion for innovation and customer focus, Peker has built a reputation for driving performance through streamlined operations and fostering a strong team culture. While foodservice is a new space for him, his adaptable leadership style and proven business acumen are expected to bring a fresh perspective and renewed energy to DFS. "I'm honored to join DFS at such a pivotal time," said Peker. "The opportunity to lead a company with such deep industry roots and a strong customer-first culture is incredibly exciting. I look forward to building on this foundation and unlocking new ways to deliver value through innovation, operational excellence, and digital transformation." For more information on DFS or its companies, visit About Diversified Foodservice SupplyDiversified Foodservice Supply (DFS), LLC, based in Vernon Hills, IL, is a leader in parts, supplies, and accessories for the food industry, serving over 250,000 foodservice customer locations worldwide. DFS is uniquely positioned with a broad product assortment that offers customers a choice between national brands from leading OEMs and high-quality exclusive brands such as Mavrik OCM parts, Franklin kitchen accessories, and KNG apparel. Along with a comprehensive inventory of in-stock products that ship the same day, DFS offers industry-leading warranties, and an award-winning customer service team comprised of veterans from the restaurant and service industries. The company markets its products to service professionals, resellers, and restaurant operators through its proprietary banners, including AllPoints, TundraFMP, Gaskets Unlimited, and Espresso Parts. Contact Information:Diversified Foodservice Supply (DFS)Rachel Seersee@ View original content to download multimedia: SOURCE Diversified Foodservice Supply Sign in to access your portfolio
