Battery Material Maker Stocks Jump as US Eyes 93% China Duty
Shares of Australian graphite miner Syrah Resources Ltd. surged as much as 38%, while shares of South Korea's Posco Future M Co. climbed 24%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc.
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27 minutes ago
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Berkshire Hathaway issues stern warning over Trump's tariffs as profits impacted — here's what investors need to know
Warren Buffett's Berkshire Hathaway just reported second-quarter operating earnings of $11.16 billion — a slight 4% dip compared to last year. The modest decline was driven by lower insurance underwriting profits, even as other divisions like railroads, energy, retail, and manufacturing posted solid gains. But what really stood out wasn't the numbers — it was the tone. In its official filing, the company warned that President Trump's newly imposed tariffs on goods from Mexico, Canada, and China pose a real threat to its businesses. 'It is reasonably possible there could be adverse consequences on most, if not all, of our operating businesses,' Berkshire wrote in its Q2 earnings report. Buffet put it more bluntly and called tariffs 'an act of war, to some degree,' in a recent interview with CBS's Norah O'Donnell. 'Over time, they are a tax on goods. I mean, the tooth fairy doesn't pay 'em! And then what? You always have to ask that question in economics. You always say, 'And then what?'' Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Tariffs may feel invisible — but they hit you While tariffs are framed as penalties on foreign countries, they often raise prices for American businesses and consumers. If it costs more to import steel, electronics, or groceries, someone pays — and usually, it's you. Buffett has long warned about how trade restrictions can: Raise the cost of everyday goods Disrupt supply chains Trigger retaliatory tariffs that hurt American farmers and exporters The latest moves by the Trump administration — including a proposed $250 visa fee for some international travelers and limitations on tax deductions for gambling losses — are already affecting tourism, manufacturing, and agriculture. Buffett's companies touch all those sectors, so his concern isn't theoretical. Still sitting on a mountain of cash Despite the cautionary tone, Berkshire is still immensely profitable and liquid. The firm ended the quarter with $344 billion in cash, slightly down from its record $347 billion earlier this year. But instead of spending, Buffett is holding back: No share buybacks in Q2 11 straight quarters of net stock selling $4.5 billion in equities dumped in the first half of 2025 Buffett seems to be waiting for better deals, or maybe bracing for a correction. Read more: Nervous about the stock market in 2025? Find out how you can A few red flags in the portfolio Berkshire also recorded a $3.8 billion loss on its long-troubled Kraft Heinz investment, which is reportedly weighing a grocery spinoff to revive growth. Two Berkshire directors resigned from the Kraft Heinz board earlier this year, suggesting waning confidence. And despite shares falling more than 10% from a record high, Berkshire didn't repurchase any of its own stock — a sign the firm may be anticipating more room to fall. What it means for you You don't need to own Berkshire stock to pay attention to this report. Berkshire's cautious tone, especially around tariffs, should resonate with everyday Americans. Tariffs will lead to higher prices — whether it's appliances, electronics, or groceries, expect price hikes if trade tensions escalate. Buffett's warnings point to a ripple effect for everyday Americans: Higher prices on goods imported from key trade partners Potential job losses in manufacturing and agriculture due to retaliatory tariffs More market volatility as investors respond to global trade uncertainty Food inflation may also stick around. Kraft Heinz's struggles reflect challenges across the grocery industry: high input costs, changing consumer tastes, and pressure to spin off underperforming brands. Buffett and Berkshire Hathaway aren't alone with their concerns. Other CEOs and economists have voiced concern that new trade barriers could hamper economic recovery just as inflation is cooling and interest rates are stabilizing. Even with billions in profit and an army of businesses, Buffett's Berkshire Hathaway is waving a red flag about the state of the economy. And when the 'Oracle of Omaha' is cautious, it's smart to listen. Keep an eye on policy, not just profits. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
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an hour ago
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Porsche's New Combustion Crossover Will Arrive Within Three Years
Porsche's New Combustion Crossover Will Arrive Within Three Years originally appeared on Autoblog. Brand New Model To Join Lineup Despite achieving record sales in the U.S. earlier this year, Porsche is struggling in certain respects. Sales in China are falling as far cheaper locally produced luxury EVs with more power continue to eat into sales, and with tariffs taking another bite out of the bottom line, forcing Porsche to repeatedly raise prices across the board, slow-selling EVs like the Macan Electric (depicted at the top of this page) need support. Stuttgart originally intended to have the Macan EV as the only entrant in the segment, but over the past few months, it's been forced to walk back all-electric plans due to weak demand, and there have been indications from the top brass that a new combustion SUV may arrive, though not as a current Macan EV with an engine - as something slightly different. First reported by Automotive News, Porsche CEO Oliver Blume has confirmed that such a thing will arrive no later than 2028, announcing that the company will begin "evaluating an independent model line in the SUV segment with combustion and hybrid powertrains." What To Expect Blume made the comments during the company's H1 2025 earnings call, in which he described the newcomer as "very, very typical Porsche for this segment and also differentiated from the BEV Macan," adding that the styling would include "Porsche's characteristic profile." Two and a bit years is not much time to start from scratch with something new, but Blume added that the new crossover "would benefit from synergies" to speed up the development process. This will not be an updated version of the old Macan, nor a Macan Electric with a gas engine shoved under the hood, as had been previously suggested. Porsche is doing things properly to keep the new SUV competitive for years to come. More than that would not be confirmed, but it's pretty obvious that this new combustion-powered SUV will follow the lead of its predecessor by borrowing a Volkswagen Group platform. The old Macan was based on MLB underpinnings shared with the Audi Q5, and it only makes financial sense to rinse and repeat with the contemporary Q5's Premium Platform Combustion architecture, which accommodates turbocharged four-cylinders, plug-in hybrids, and a V6 in the sportier SQ5 - a great starting place for the Turbo variant of the new crossover. Diesel is also facilitated for markets that still consume the stuff. It Won't Be A Gussied-Up Q5If experience has taught us anything, it's that no matter how trying the times, nor how short the development cycle, Porsche always finds a way to extract more refinement, performance, and efficiency from the components that other members of the VW family have access to. Is it too soon to say that this new crossover will accelerate, turn, brake, and cruise better than anything else in the segment? Perhaps, but why didn't Porsche just stick with the original Macan, then? Unfortunately, both it and the 718 sports car failed to meet European cybersecurity laws that came into effect exactly a year ago, and the architecture could not be updated without great expense. The Macan EV was immensely popular at launch, and it seems to be hitting its stride abroad, but it's still not the runaway success the original has been. If it were, we might be having a different discussion right now, but those are the cards all EV manufacturers have been dealt after the pandemic-era boom died down. Porsche is still committed to its electric cars, and a Cayenne EV is imminent, but a gas-powered alternative will have to coexist to weather the world's economic storms. This new crossover lets Porsche adjust its sales without abandoning the highly competitive EVs that are expected to grow in popularity worldwide toward the end of this and the start of the next decade, when Bentley, Lamborghini, Ferrari, and others expect the market to be ready to accept EVs of their own in sustainable numbers. Porsche's New Combustion Crossover Will Arrive Within Three Years first appeared on Autoblog on Aug 1, 2025 This story was originally reported by Autoblog on Aug 1, 2025, where it first appeared.
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an hour ago
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Nvidia must provide 'security proofs' to regain trust:China state media
BEIJING (Reuters) -Nvidia (NVDA) must produce "convincing security proofs" to eliminate Chinese users' worries over security risks in its chips and regain market trust, a commentary published by China's state-run media People's Daily said on Friday. Foreign companies must comply with Chinese laws and take security to be a basic prerequisite, said the commentary - titled "Nvidia, how can I trust you?" - which was published on the paper's social media account. In a statement sent to Reuters, an Nvidia spokesperson reiterated that "Cybersecurity is critically important to us". "NVIDIA does not have 'backdoors' in our chips that would give anyone a remote way to access or control them," the spokesperson said. The commentary appeared a day after Beijing raised concerns over potential security risks in Nvidia's H20 artificial intelligence chip, casting uncertainty over the company's sales prospects in China weeks after a U.S. export ban was reversed. The Cyberspace Administration of China, the country's internet regulator, said it was concerned by a U.S. proposal for advanced chips sold abroad to be equipped with tracking and positioning functions. The regulator said it had summoned Nvidia to a meeting to explain whether its H20 AI chip had any backdoor security risks, as it was worried that Chinese user data and privacy rights could be affected. A backdoor risk refers to a hidden method of bypassing normal authentication or security controls.
