France's Macron says U.S. and EU will find a 'good solution' on trade
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The Hill
25 minutes ago
- The Hill
Bessent: Trump's Putin meeting like showing off ‘gun case' to ‘uncontrollable neighbor'
Treasury Secretary Scott Bessent on Tuesday commended President Trump's summit with Russian President Vladimir Putin in Alaska last week. 'Alaska was a show of force by President Trump. He invited President Putin to land that the Russians used to own. He displayed a huge amount of military hardware and then did a flyover,' Bessent said during a Tuesday morning appearance on CNBC's ' Squawk Box.' 'It was kind of like inviting your uncontrollable neighbor to your house and showing him your gun case,' he added. The Treasury Secretary said the immediate follow-up meeting with Ukrainian President Volodymyr Zelensky at the White House on Monday signaled strong strides toward peace between Russia and Ukraine. 'We had a very good meeting with him in and his team in the Oval for about an hour and a half, and then we met with the European leaders who were an incredible group to have in the White House, all led by President Trump,' Bessent said. 'And yes, the culmination of that was a call with President Putin and my strong belief is that there will be a bilateral meeting between President Putin and President Zelensky,' he continued. 'And that's the only way to end this conflict, is to get the two sides talking.' The Kremlin's strikes on Ukraine have continued amid peace negotiations as Russian leaders have urged NATO not to deploy forces in Eastern Europe. On Monday, Russia's foreign ministry spokesperson Maria Zakharova said troop from NATO member nations 'could lead to an uncontrollable escalation of the conflict with unpredictable consequences.' Some world leaders have maintained that the Trump-Putin summit benefitted Moscow more than the U.S. Former British ambassador to Russia Laurie Bristow said the bilateral meeting 'produced nothing for Mr. Trump and gave Mr. Putin most of what he was looking for,' according to The Associated Press while Zelensky pegged the meeting as a photo-op. Still, Bessent said economic pressures on Moscow will force the over three-years long war to end. 'I think the sense is that both sides are ready for this terrible conflict to end, and one of the ways to make President Putin want it to end is on the economic side,' he told CNBC on Tuesday. 'The Russian economy has 20 percent plus inflation. Right now, it is a war economy. I think more than 25 percent of the GDP is coming from the military buildup. So, you know, it's a very imbalanced economy,' he continued.
Yahoo
26 minutes ago
- Yahoo
Warren Buffett's Berkshire Hathaway Buys Over 5 Million Shares in UnitedHealth Group (UNH)
UnitedHealth Group Incorporated (NYSE:UNH) is one of the most buzzing stocks to invest in right now. CNBC reported on August 14 that Warren Buffett's Berkshire Hathaway bought more than 5 million shares in UnitedHealth Group Incorporated (NYSE:UNH) last quarter, coming up to a stake worth around $1.6 billion. A senior healthcare professional giving advice to a patient in a clinic. UnitedHealth Group Incorporated's (NYSE:UNH) shares soared after Buffett's latest quarterly filing was revealed, marking a 'surprising buy' due to the healthcare company's present reputation. According to VerityData, the stake purchase positions it as the 18th-biggest position in the Berkshire portfolio, standing behind Amazon and Constellation Brands. UnitedHealth Group Incorporated (NYSE:UNH) provides healthcare coverage, data consultancy, and software services. It operates through the OptumRx, OptumInsight, OptumHealth, and UnitedHealthCare segments. While we acknowledge the potential of UNH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
42 minutes ago
- Yahoo
The Trump administration confirms it's seeking a stake in Intel. Why? It depends who you ask
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick confirmed on Tuesday that the US government is considering an extraordinary investment in struggling chipmaker Intel. But they gave different answers about what the Trump administration sought to do with that stake. Such a deal, if it were to happen, would mark an unusual arrangement that would see the Trump administration use taxpayer money to take a stake in a private American business. In an interview with CNBC Tuesday morning, Bessent suggested a deal like this would be about boosting an American tech company, rather than making money from Intel. When asked whether taking a stake in Intel would mean convincing US companies to purchase chips from the tech giant, Bessent said any investment in Intel would be intended to 'help stabilize the company for chip production here in the US.' 'The last thing we're going to do is put pressure, is take the stake and then try to drum up business,' he said, adding that it would be a 'conversion of the grant,' likely referencing reports from Bloomberg, The New York Times and The Wall Street Journal indicating that the administration could convert grants from the CHIPS and Science Act into an equity stake. The reports indicate that the administration is weighing a 10% stake in Intel. Bloomberg first reported the discussions last week. 'There's no talk of trying to force companies to buy from Intel,' he said, adding that reliance on Taiwan for chips, where the majority of the world's chips are made, is a 'national security concern.' 'For national security, we have to stop that single point of failure,' he said. Lutnick reiterated that stance, telling CNBC later on Tuesday morning that shifting chipmaking to the United States instead of relying on Taiwan is a priority, both for the economy and for security. But he also said Trump believes the government should get a return on its investment, rather than doling out grants to major tech companies. He said that the Biden administration, through the bipartisan CHIPS act, was 'was literally giving Intel [money] – for free.' 'Donald Trump turns that into saying, 'Hey, we want equity for the money,'' Lutnick said. 'America should get the benefit of the bargain. I mean, that is exactly Donald Trump's perspective, which is: 'Why are we giving a company worth $100 billion this kind of money?'' Intel declined to comment on reports of such a deal when approached by CNN last week, but said it 'is deeply committed to supporting President Trump's efforts to strengthen U.S. technology and manufacturing leadership.' 'We look forward to continuing our work with the Trump Administration to advance these shared priorities, but we are not going to comment on rumors or speculation,' the spokesperson said in a statement. 'Discussion about hypothetical deals should be regarded as speculation unless officially announced by the Administration,' White House spokesman Kush Desai said in a statement to CNN last week. The reports and Bessent's comments also come after chipmakers Nvidia and AMD said they would pay 15% from their chip sales in China to the government in exchange for export licenses. If the government does take a stake in Intel, it could also serve as a model for other Trump administration investments, two people familiar with the White House discussions on the matter told CNN last week. President Donald Trump met with Intel CEO Lip-Bu Tan last week after calling for the tech executive's resignation over allegations about his links to China. Intel has fallen behind in the chip race after losing to rivals like Qualcomm and Nvidia on the shift to mobile and AI. The chipmaker said last month that it had mostly completed plans to lay off 15% of its staff. Trump has pushed to revive manufacturing in the United States and cement America as a leader in the tech sector, two goals that have been a cornerstone of his presidency thus far. He's touted major investments from companies like Apple, TSMC and Nvidia to expand their US operations as political wins, although these companies have invested in broadening their US presence before his second term. CNN's Phil Mattingly and Clare Duffy contributed to this report. This story has been updated with additional information and developments. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
