Estee Lauder chairman emeritus Leonard Lauder dies, company says
June 15 (Reuters) - Estee Lauder (EL.N), opens new tab said on Sunday that its chairman emeritus, Leonard Lauder, has died at the age of 92.
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BBC News
12 minutes ago
- BBC News
Trump's investment claims - are tariffs boosting the US economy?
US President Donald Trump may have called tariffs his favourite word in the dictionary. But when it comes to obsessions, business investment has got to be close. As of last month, he said more than $12 trillion (£8.8tn) had been "practically committed" on his watch. "Nobody's ever seen numbers like we have," he said, crediting his agenda of tariffs, tax cuts and deregulation with making the true, the figure would indeed be astonishing, potentially tripling the roughly $4tn in gross private investment the US reported all of last is a sudden gush of business spending setting the stage for a new golden economic era as Trump claims, or is it all theatre? First things first: it is too early in Trump's tenure to have clear data to evaluate his claims. The US government publishes statistics on business investment only every three to March, which reflect two months of Trump's tenure, show a strong jump in business investment, albeit one that analysts said was partly due to data skewed by an earlier Boeing anecdotal and survey evidence indicates that Trump's impact on investment is far more incremental than he has claimed."We have hardly any data at this point and almost all the information we have is probably for investment projects that were planned and ordered last year," says economist Nick Bloom, a professor at Stanford University whose work looks at the impact of uncertainty on business investment. "My guess is business investment is down a little bit, not massively... primarily because uncertainty is quite high and that will pause it." Swiss pharmaceutical firm Roche, which announced plans to invest $50bn in the US over five years in April, is a good example. Some of the projects included in the sum were already in the works. Executives have also warned that some of Trump's ideas - in particular a proposal to overhaul drug pricing - could imperil its plans."The pharma industry would need to review their expenses including investments," the company said. Trump typically makes his case pointing to investment promises made by high-profile firms such as Apple and White House keeps a running tally of those announcements, but at the start of June, it put total new investments at roughly $5.3tn - less than half the sum cited by that figure is inflated. Roughly a third of the 62 investments on the list include plans that were at least partially in the works before Trump took office. For example:US manufacturer Corning is listed for a $1.5bn investment in a new manufacturing plant, but the core $900m of the project was announced in early on the list for a $5bn plan to reopen a factory in Belvidere, Illinois, initially made that promise in commitments include items that are not traditionally considered investments at all - like Apple's $500bn spending pledge, which includes taxes and salaries paid to workers already at the company. An investment promise, by ADQ and Energy Capital, is not limited to the US. Falling 'well short' of headlines In reality, as of mid-May, new investment stemming from the announcements likely totalled something closer to $134bn, according to analysis by Goldman Sachs. That sum shrank to as little as $30bn, not including investments backed by foreign governments, once researchers factored in the risk that some projects might fail to materialise, or would have happened anyway."Though not negligible economically, such increases would fall well short of the recent headlines," they wrote. When pressed on the numbers, White House spokesman Kush Desai brushed off concerns that the administration's claims did not match reality. "The Trump administration is using a multifaceted approach to drive investment into the United States... and no amount of pointless nitpicking and hairsplitting can refute that it's paying off," he said in a statement, which noted that many firms had explicitly credited Trump and his policies for shaping their plans. The BBC approached more than two dozen firms with investments on the White House did not respond or referred to previous acknowledged that work on some of their projects pre-dated the current administration. Incentive to exaggerate Exaggeration by politicians and companies is hardly unexpected. But the Trump administration's willingness to radically intervene in the economy, with tariffs and other changes, has given companies reason to pump up their plans in ways that flatter the president, says Martin Chorzempa, senior fellow at the Petersen Institute of International Economics."A firm making an announcement is a way to get some current benefits, without necessarily being held to those [spending pledges] if the situation changes," he says. "There's a strong incentive for companies to provide as large a number as possible." That's not to say that Trump policies aren't making a tariff threats have "definitely been a catalyst" for pharmaceutical firms to plan more manufacturing in the US, a key source of sector profits, says Stephen Farrelly, global lead for pharma and healthcare at he adds, there are limits to what the threats can accomplish. The pharma investments are set to unfold over time - a decade in some cases - in a sector that was poised for growth anyway. And they have come from firms selling branded drugs - not the cheaper, generic medicines that many Americans rely on and that are made in China and India. Mr Farrelly also warned that the sector's investments may be at risk over the long term, given uncertainty about the government's approach to tariffs, drug pricing and scientific research. Overall, many analysts expect investment growth to slow in the US this year due to policy German Gutierrez of the University of Washington says Trump is right to want to boost investment in the US, but believes his emphasis on global competition misdiagnoses the own work has found the decline in investment is due in part to industry consolidation. Now a few large firms dominate sectors, there is less incentive to invest to compete. In addition, the kinds of investments firms are making are typically cheaper items such as software rather than machines and factories. Tariffs, Prof Gutierrez says, are unlikely to address those issues."The way it's being done and the type of instruments they are using are not the best ways to achieve this goal. It just takes a lot more to really get this going," he says.
Auto Blog
16 minutes ago
- Auto Blog
Nissan Launches Killer Frontier Lease Deal for June
The 2025 Nissan Frontier comes with updating styling, new tech, and impressive towing capability. Best of all, Nissan is offering a solid lease deal for June. Midsize trucks bring stiff competition The midsize truck segment has become increasingly crowded over the past decade, with several models making a return. The Nissan Frontier has maintained a consistent presence over the years, launching its third generation in 2022. The segment has grown fiercer, with many consumers turning to midsize trucks over full-size options due to rising prices. Nissan has responded by offering a pretty slick lease deal on a new Frontier. Depending on where you live, you could lease a new Nissan Frontier for as little as $359 per month. This specific lease deal spans 39 months and requires a $4,609 down payment. 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More 2025 Nissan Frontier — Source: Nissan Refreshed Nissan Frontier offers more flexibility The Nissan Frontier arrives with updated styling and amenities for the 2025 model year. The midsize pickup boasts an updated front end, and a six-foot long bed model is now available at all trim levels, except for the base S. In terms of tech, a new 12.3-inch touchscreen display joins the list of options, and includes wireless Apple CarPlay and Android Auto integration. The pickup also sees its maximum towing capacity increased to 7,150 lbs when properly equipped. Nissan also added some new safety tech, including adaptive cruise control and lane-departure warning. 2025 Nissan Frontier — Source: Nissan The 2025 Nissan Frontier comes in five trim levels, one of which is the dedicated off-road PRO-4X. While the base trim comes with an impressive list of standard amenities, stepping up to the SV trim nets the best value. Coincidentally, the SV trim is the model that's also subject to some of the best June lease deals. The Frontier SV is available in two- and four-wheel drive configurations, features 17-inch wheels, and starts at $35,790 with a crew cab body style. Under the hood lies a 3.8-liter V6 engine mated to a nine-speed automatic transmission, delivering 310 horsepower and 281 lb-ft of torque. When equipped with rear-wheel drive, the Frontier is rated for 21 mpg in combined city/highway driving. 2025 Nissan Frontier — Source: Nissan Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Inside, the Frontier SV features a seven-inch digital information display and a 12.3-inch touchscreen display, complete with wireless Apple CarPlay and Android Auto compatibility. Soft-touch materials and cloth seating come standard, but you can upgrade to leather upholstery, along with heated front seats and steering wheel, with the SV Convenience package. Nissan Frontier lease offers for June 2025 There's a handful of Nissan Frontier lease offers available throughout the country, but most of them are solid deals. New York City seems to get the best deal for an SV crew cab with four-wheel drive, $359 per month, and $4,609 due at signing. Detroit is close behind, with a $379 monthly payment and $4,619 for that same model. The Chicago area can get into the same SV model for $399 per month when paired with a $4,559 down payment. 2025 Nissan Frontier — Source: Nissan Los Angeles and Miami residents can get behind the wheel of a two-wheel drive Frontier SV crew cab for as little as $379 per month, with $4,129 due at signing. Seattle, Denver, Austin, and Charlotte share a similar lease deal: $399 per month with a $4,409 down payment. All lease offers are for a 39-month term with a 10,000-mile annual allowance. These particular lease deals run through June 30th, so don't dawdle if you want to park a new Frontier in your driveway! 2025 Nissan Frontier — Source: Nissan Final thoughts The midsize truck segment might be more competitive than in the past, but the 2025 Nissan Frontier is still a solid offering. With upscale tech, including wireless smartphone integration, and a towing capacity topping 7,000 lbs., the Frontier can compete with the best. As full-size trucks become pricier, more consumers are moving toward midsize models, and Nissan is positioning itself strategically with this June lease deal. If you want a new Nissan Frontier, make sure to act before June 30th! 2025 Nissan Frontier — Source: Nissan Lease offers may vary according to location, vehicle configuration, and are subject to credit approval. Advertised monthly payments don't necessarily include taxes, title, registration, or other fees. You can get all the details regarding this 2025 Nissan Frontier lease offer by visiting the official Nissan website and entering your zip code. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Joseph Pudlewski View Profile
Auto Blog
17 minutes ago
- Auto Blog
Your Leased Car Might Be Worth More Than You Think – Here's Why
Trade-in values are rising for three-year-old vehicles New Edmunds data shows that the average price for three-year-old used cars has surpassed $30,000 for the first time since 2023. This updated figure narrows the gap between new vehicle prices and three-year-old pre-owned cars to under $17,000 for the first time since 2022. Additionally, three-year-old lease return values are reaching higher than forecasts expected, increasing trade-in advantages. Tariffs on foreign-made models may cause significant differences in resale values, especially by model vs. by brand. Lease rates dropped through 2022 and 2023, causing fewer cars to return to dealer lots. During this time, supply chain shortages resulted in automakers producing fewer vehicles, driving new prices up. According to Kelley Blue Book, many drivers in 2022 opted for lease buyouts at the end of their term instead of continuing the lease cycle to own a car for less than a new vehicle purchase, resulting in dealers receiving fewer returns in 2025. A GMC pickup truck displayed for sale at a General Motors dealership The pre-owned inventory's aging: by the numbers In Q1 2025, the average age of trade-ins hit 7.6 years, up 0.3 years from the same time last year and representing Edmunds' highest-recorded trade-in age since Q1 2019. Edmunds' average age of a used car on its site rose from 5.7 years to 6.1 years from March 2024 to March 2025. The average transaction price for a three-year-old pre-owned vehicle in Q1 2025 reached $30,522—up 2.3% year-over-year from $29,844. A decreasing distance between the cost of new and three-year-old used cars generally makes the actual and projected resale values of vehicles wider since the market is more susceptible to rapid changes from factors like economic policy. For example, tariffs have driven the average transaction prices (ATP) for three-year-old U.S. vehicles up by $6,853 from their previous ATP, Edmunds reports. Different countries' tariff policies and varying pricing strategies among automakers will likely affect the gap between predicted and actual ATPs. Still, some may be surprised to learn that a report from reflects that American-made vehicles were more expensive on average than their foreign counterparts through Q1 2025 at $53,000, the Detroit Free Press reports. Cars assembled in China were second at $51,000, while Canada and Mexico stood at $46,000 and $40,000, respectively. The U.S.'s #1 spot is primarily attributed to its high production volumes of larger vehicles like trucks and SUVs. Gently used car values are increasing primarily as a ripple effect of recent leasing trends, and tariffs have only brought mild price increases to the market so far. However, experts at Kelley Blue Book are predicting more radical price changes in the next few months. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. New vehicles are on display at a car dealership in Vancouver, British Columbia, Canada, on April 3, 2025. — Source: Getty Images Final thoughts Recent data supports the claim that trade-ins are a good idea right now if you're driving a gently used vehicle. Besides having the ability to part ways with a new car you got three years ago without taking a significant financial hit, lessees are more likely to see positive equity they can place toward a new lease or purchase. For shoppers with trade-ins, the model's country of assembly, which has historically been a nonfactor, is playing an increasingly critical role in a vehicle's resale value. About the Author Cody Carlson View Profile
