Argentex Suspends Shares After Tariff Chaos Triggers Margin Call
The London-listed company said in a statement Tuesday it's taking steps to preserve cash and increase collateral from counterparties after it was hit by margin calls linked to its foreign exchange derivatives book this month.
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Yahoo
27 minutes ago
- Yahoo
Trump Aides Create Loyalty List Ranking Corporations by Support
(Bloomberg) -- President Donald Trump's aides have created a scorecard ranking hundreds of companies based on their efforts to support his signature tax cut law, a White House official said Friday. The US-Canadian Road Safety Gap Is Getting Wider Festivals and Parades Are Canceled Amid US Immigration Anxiety To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The list ranks 553 different businesses as either 'strong, moderate, or low' partners on the megabill, which extended and expanded tax cuts from the president's first term and provided billions of dollars in additional funding for immigration enforcement. It's not clear how the scores will affect the way the federal government deals with the firms, but the official, speaking on the condition of anonymity, suggested that companies' rankings could change based on present and future support for presidential initiatives. Trump has made unusual, high-profile interventions in the business world since returning to the White House in ways that critics have said run counter to the Republican Party's traditional commitment to free-market capitalism. The president has defended himself as a pro-business leader. Recently, the Trump administration has considered taking an equity stake in Intel Corp. and got Nvidia Corp. and Advanced Micro Devices Inc. to pay the government 15% of revenues from chip sales to China. The creation of the list comes as Trump has struggled to sell the public on the benefits of the legislation. Just 32% of Americans say they approve of the tax and spending bill versus 46% who disapprove, according to a Pew Research poll released this week. The president's job approval sat at just 38% in the same survey. But the administration is ratcheting up efforts to sell the benefits of the legislation, with Trump on Thursday holding an event at the White House to tout a new $6,000 deduction for seniors on Social Security benefits. Cabinet officials have scheduled events across the country in support of the legislation. Companies favorably ranked by the White House included DoorDash Inc. and Uber Technologies Inc., according to Axios, which first reported the existence of the list. The rideshare companies have touted a provision that allows some taxpayers to deduct as much as $25,000 in reported cash tips from their income taxes. Airlines including United Airlines Inc. and Delta Air Lines Inc. were credited for their efforts supporting the bill's $12.5 billion allocation for new air traffic control infrastructure. Americans Are Getting Priced Out of Homeownership at Record Rates What Declining Cardboard Box Sales Tell Us About the US Economy Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Dubai's Housing Boom Is Stoking Fears of Another Crash Twitter's Ex-CEO Is Moving Past His Elon Musk Drama and Starting an AI Company ©2025 Bloomberg L.P.
New York Post
29 minutes ago
- New York Post
It's the Age of Trump — and he's forging a new political era
If you had to sum up President Donald Trump's second term so far in one word, you could do worse than 'epic.' Trump may be on the path to the most consequential presidency since Ronald Reagan's. We don't know how it will end — an unforeseen crisis could upend everything — but the emphasis has been on governing ambition from Day 1. Advertisement Even if Trump's second term ended tomorrow, he would have left a significant mark. Consider his signature issues of trade and immigration. Advertisement For all the talk about how he doesn't have core convictions, Trump has favored tariffs for decades and has instituted a tariff regime that — absent discrediting economic turmoil — is likely to endure. This would have seemed almost unthinkable when Trump descended the elevator in 2015, and a relatively free-trade consensus prevailed in US policy. He's brought border crossings to a historic low, and the United States could experience negative net migration for the first time in 50 years. Advertisement Again, this is a big change, and one that it's hard to imagine anyone besides Donald Trump effecting. He's dealt a blow to DEI programs in the federal government and is making it harder for colleges and universities to pursue race-conscious policies. His election coincided with the beginning of a pullback from DEI in the private sector, one that his administration has encouraged. DEI was the culmination of a half-century campaign by the left for quotas in hiring and admissions and other racialized policies. Trump's counteroffensive could represent an inflection point. Advertisement Get opinions and commentary from our columnists Subscribe to our daily Post Opinion newsletter! Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters He's signed a tax and spending bill that makes permanent the tax cuts from his first term, funds a large-scale investment in immigration enforcement and includes a meaningful reform of Medicaid. He bombed the Iranian nuclear program, at the very least setting it back for years. He cajoled commitments for greater defense spending out of NATO countries. Almost any one of these items would be a notable first-six-months accomplishment, but he's done them all, with lots of other activity besides. His environmental and energy officials are rolling back the left's climate agenda. Trump defunded public broadcasting and kneecapped the Department of Education (for now). His administration has taken important steps to protect female sports and to keep minors from being subjected to 'gender-affirming care.' Advertisement He's pushed universities into adopting reforms and probably upended forever the assumption that billions of federal dollars would flow to top universities as a matter of course. His election was both a symbol of, and a catalyst for, the woke tide's receding. Trump has what is, in recent memory, an unprecedented grip on his party and has remade it in his image over the last decade. If a Trump-endorsed GOP nominee wins the general election, he would be the George H.W. Bush to Trump's Reagan. Advertisement In sum, the rise of Trump in 2016 represented a break with what had been the post–Cold War consensus, although it was incompletely realized and seemingly a political fizzle when voters ousted him in the COVID election of 2020. Biden was a partial return to a more conventional politics. Now, with his second term, Trump is more fully effecting a transition to a new era — which alone makes him a highly consequential figure. The usual caveats apply: Again, a catastrophe could scramble all of this, and to say Trump is important is not to endorse everything he's doing, whether big (e.g., the tariffs) or small (e.g., firing the Bureau of Labor Statistics commissioner). Advertisement Since he's done so much unilaterally, it's subject to relatively easy reversal if a Democrat is elected in 2028. But there's little doubt we are witnessing something historic. Steve Hayward called his volumes on the Republican giant of the 1980s 'The Age of Reagan' — and Arthur Schlesinger wrote both 'The Age of Jackson' and 'The Age of Roosevelt.' Advertisement The equivalent of Hayward or Schlesinger decades from now will probably be justified in continuing the trope: All indications are that we are living in the Age of Trump. Twitter: @RichLowry
Gizmodo
29 minutes ago
- Gizmodo
The White House Keeps a ‘Loyalty' Scorecard for Companies: Report
The White House has created a spreadsheet that rates hundreds of companies for their loyalty, according to a new report from Axios. And while that may not be entirely shocking news, given Donald Trump's way of doing business, it's worth stepping back and asking how news of a loyalty scorecard by a sitting president would've been received in the pre-Trump era. The rankings on the loyalty spreadsheet are currently determined by a given company's perceived support of the so-called Big Beautiful Bill, a budget package that passed in July and is poised to strip healthcare from at least 17 million people while lowering taxes on the wealthiest Americans. That support is gauged by social media posts, press releases, ads, and more, according to Axios. The spreadsheet reportedly contains 553 companies and trade organizations, each getting one of three ratings of support for Trump: Strong, moderate, or low. Examples of companies that were 'good partners,' according to Axios, include Uber, DoorDash, United, Delta, AT&T, and Cisco. And while it's entirely possible the rankings are solely determined by public displays of support, it's impossible to ignore the financial contributions those companies have often made to Trump. AT&T, Delta, United, Uber, and Uber CEO Dara Khosrowshahi each contributed $1 million to Trump's inaugural committee, according to CNBC. DoorDash contributed $100,000. Cisco didn't donate to Trump's inauguration, but spoke glowingly about the president shortly after he was elected in 2024. Trump has insisted on fealty to his far-right agenda and has set out to crush anyone who doesn't fall in line. That includes some of the largest companies in America, which have dutifully met with Trump to kiss the ring and sing his praises. Apple CEO Tim Cook, who also donated $1 million to Trump, visited the White House to announce new spending in the U.S. and even gave the president a piece of glass with the Apple logo sporting a 24-karat gold base. It's the kind of tacky gesture that Trump loves—symbolism that makes it clear the king is in charge. Axios quotes an unnamed White House source who describes the loyalty spreadsheet as an 'evolving' document, and support for other initiatives beyond the Big Beautiful Bill will be included in the future. And Axios notes it will be used whenever lobbyists approach the Trump regime with requests. 'If groups/companies want to start advocating more now for the tax bill or additional administration priorities, we will take that into account in our grading,' the White House official is quoted as telling Axios. It all sounds like a mafia-style operation, of course. But that's no secret. Trump has always been a transactional president and isn't shy about shaking down anyone who he thinks isn't sufficiently deferential to his whims. Even if Trump doesn't like someone, he seems willing to bring them back into the 'loyal' camp as long as they play along. For example, Trump recently criticized the CEO of Intel, Lip-Bu Tan, calling him 'highly conflicted' and insisting he needed to resign over supposed ties to China. Tan denied the allegations, met with Trump, and now we have reports from Bloomberg that the U.S. government might take a stake in Intel and might use funds from the Chips Act to do it. We don't know exactly what happened there, but we can make some educated guesses. If you want to do business in the U.S., you need to pay your tithe to Trump's empire in one way or another. Unfortunately, Trump's empire isn't just his collection of private businesses these days. He sees the entire country and all its wealth as his for the taking. Trump is also working on getting a 15% cut from Nvidia and AMD on chips shipped to China in what's being characterized as a 'revenue-sharing agreement.' That deal seems unconstitutional, according to Fortune, but that doesn't seem like it will matter in the long run. Trump's government flagrantly breaks the law, there's sometimes a protracted legal fight, and he keeps pushing boundaries while the courts that are stacked with his own judges debate the finer points. The U.S. public was absolutely scandalized when it learned of President Richard Nixon's enemies list in 1973. But in the second Trump era, this kind of loyalty ranking from the White House is just a tiny drop in an ocean of bizarre news that defies the norms of another age.
