China's ‘New Consumers' Don't Want a House. They Want Labubu and Bubble Tea.
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CNN
2 minutes ago
- CNN
China seizes the moment to praise ‘beloved Brazilian coffee' as Trump's tariffs take effect
South America Asia China Donald TrumpFacebookTweetLink Follow The 50% tariffs announced by US President Donald Trump on many Brazilian products took effect Wednesday, a situation that China is already taking advantage of by opening its market to Brazilian coffee, one of the products most affected by the trade measures. China's embassy in Brasilia said that Chinese companies 'are arriving' in Brazil, sharing a video on X featuring its food delivery giant Meituan. 'And the bridge is bidirectional: Brazil is also consolidating its presence in China with its beloved Brazilian coffee,' the post said. Days earlier, the embassy announced that China had authorized 183 new Brazilian coffee companies to export to the Chinese market, with a five-year permit. In another message, it highlighted the growth of coffee consumption in the country, saying the beverage 'has been gaining a place in the daily lives of the Chinese.' A nation of coffee-drinkers, the United States is the world's largest coffee importer. Its main supplier is Brazil, which in 2024 shipped 30.7% of the 1.5 million metric tons bought by the US market. Analysts have told CNN that Trump's trade measures may prompt the Brazilian government to foster closer ties with other partners. While the United States has a trade surplus with Brazil, the White House has presented political arguments for the 40-percentage-point increase in tariffs on the South American country. An executive order that Trump signed last week with the new tariff scheme accuses the Brazilian government of committing 'serious human rights abuses' with its prosecution of former President Jair Bolsonaro, a Trump ally who is on trial over an alleged coup plot against President Luiz Inácio Lula da Silva. Bolsonaro has denied all allegations of wrongdoing. The order was signed days after Trump demanded in a letter that Brazil end the trial 'immediately,' accusing Lula of carrying out a 'witch hunt' against Bolsonaro. Lula responded by saying, 'The judiciary branch of power in Brazil is independent. The president of the Republic has no influence whatsoever,' adding that Bolsonaro 'is not being judged personally. He is being judged by the acts he tried to organize a coup d'etat.' The Brazilian government has promised to respond to Trump's trade measures, but has not yet announced what steps it will take. Lula has stated that his country must be treated as an equal in any potential trade negotiations with the United States, and emphasized that there is a 'limit to discussion' with the Trump administration. On Wednesday, Chinese Foreign Ministry spokesman Guo Jiakun said at a press conference that cooperation between Beijing and Brasília 'has benefited both peoples,' and assured that China is willing to deepen the relationship 'in various fields and add new strategic dimensions.'
CNN
3 minutes ago
- CNN
China seizes the moment to praise ‘beloved Brazilian coffee' as Trump's tariffs take effect
The 50% tariffs announced by US President Donald Trump on many Brazilian products took effect Wednesday, a situation that China is already taking advantage of by opening its market to Brazilian coffee, one of the products most affected by the trade measures. China's embassy in Brasilia said that Chinese companies 'are arriving' in Brazil, sharing a video on X featuring its food delivery giant Meituan. 'And the bridge is bidirectional: Brazil is also consolidating its presence in China with its beloved Brazilian coffee,' the post said. Days earlier, the embassy announced that China had authorized 183 new Brazilian coffee companies to export to the Chinese market, with a five-year permit. In another message, it highlighted the growth of coffee consumption in the country, saying the beverage 'has been gaining a place in the daily lives of the Chinese.' A nation of coffee-drinkers, the United States is the world's largest coffee importer. Its main supplier is Brazil, which in 2024 shipped 30.7% of the 1.5 million metric tons bought by the US market. Analysts have told CNN that Trump's trade measures may prompt the Brazilian government to foster closer ties with other partners. While the United States has a trade surplus with Brazil, the White House has presented political arguments for the 40-percentage-point increase in tariffs on the South American country. An executive order that Trump signed last week with the new tariff scheme accuses the Brazilian government of committing 'serious human rights abuses' with its prosecution of former President Jair Bolsonaro, a Trump ally who is on trial over an alleged coup plot against President Luiz Inácio Lula da Silva. Bolsonaro has denied all allegations of wrongdoing. The order was signed days after Trump demanded in a letter that Brazil end the trial 'immediately,' accusing Lula of carrying out a 'witch hunt' against Bolsonaro. Lula responded by saying, 'The judiciary branch of power in Brazil is independent. The president of the Republic has no influence whatsoever,' adding that Bolsonaro 'is not being judged personally. He is being judged by the acts he tried to organize a coup d'etat.' The Brazilian government has promised to respond to Trump's trade measures, but has not yet announced what steps it will take. Lula has stated that his country must be treated as an equal in any potential trade negotiations with the United States, and emphasized that there is a 'limit to discussion' with the Trump administration. On Wednesday, Chinese Foreign Ministry spokesman Guo Jiakun said at a press conference that cooperation between Beijing and Brasília 'has benefited both peoples,' and assured that China is willing to deepen the relationship 'in various fields and add new strategic dimensions.'
Yahoo
30 minutes ago
- Yahoo
Why Upstart Stock Is Plummeting Today
Key Points Upstart reported its Q2 results and actually beat Wall Street's sales and earnings targets. The lending specialist also raised its full-year revenue target, but the stock is still getting crushed today. Investors are worried about inflation headwinds and competitive risks, but those who are risk tolerant may want to take a close look at the stock. 10 stocks we like better than Upstart › The stock of Upstart Holdings (NASDAQ: UPST) is sinking today following the company's recent earnings report. The fintech specialist's share price was down 18.2% as of 3:05 p.m. ET on Wednesday. Meanwhile, the S&P 500 was up 0.7%, and the Nasdaq Composite was up 1.1%. Upstart released its second-quarter results after the market closed Tuesday and reported sales and earnings for the period that came in significantly ahead of Wall Street's targets. The company also raised its full-year sales outlook, but some cautious commentary from management spurred a big sell-off today. Upstart sinks despite strong Q2 results By most measures, Upstart delivered a strong earnings update with its second-quarter release. The company posted earnings per share of $0.15 on sales of $257 million, crushing the average analyst estimate's calls for a per-share loss of $0.10 on sales of $225.4 million. Loans originated through the company's artificial intelligence (AI) lending platform rose 159% year over year to reach nearly 372,600, and overall revenue was up roughly 101%. Even though the business posted an operating loss of $4.5 million in the period, performance from investments delivered an unexpected profit in the quarter. Management even raised its full-year revenue outlook in conjunction with the report, but the beat-and-raise quarter hasn't been enough to prevent big sell-offs. What's next for Upstart? The company said that inflation continues to be a significant risk factor, and said it was seeing more competitive activity in the business' key service niches. On the other hand, it actually raised its full-year sales performance target to approximately $1.055 billion -- up from its previous guidance for about $1.01 billion. With the stock seeing a big pullback despite a strong second quarter and encouraging performance outlook for the rest of the year, today's trading could present a worthwhile buying opportunity for risk-tolerant investors. Should you buy stock in Upstart right now? Before you buy stock in Upstart, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Upstart wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $619,036!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,092,648!* Now, it's worth noting Stock Advisor's total average return is 1,026% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Upstart. The Motley Fool has a disclosure policy. Why Upstart Stock Is Plummeting Today was originally published by The Motley Fool
