How to Avoid a Crypto Scam
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AI is helping cyber criminals adapt and scale at unprecedented levels. The one thing scammers can't hack? Your own critical thinking.
Despite crypto's relentless march into the mainstream, it still hasn't been able to shake its shadow: digital fraud.
Scams have become so polished that they are indistinguishable from legitimate services — until the damage is done. Wallet-draining malware mimics human behavior with uncanny accuracy. Phishing schemes are optimized with A/B testing. Con operations have even morphed into full-fledged businesses, complete with customer service teams.
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Yahoo
5 minutes ago
- Yahoo
Applied Materials Warns Uncertainty Is Slowing Its Business, Especially in China
Key Takeaways Applied Materials said macroeconomic uncertainty is hurting its business, especially in China. The maker of equipment for semiconductors gave current-quarter guidance that was short of forecasts. Applied Materials beat third-quarter earnings and revenue estimates as sales at all three of its segments beat estimates. Shares of Applied Materials (AMAT) sank 13% in premarket trading Friday, a day after the semiconductor equipment manufacturer gave weaker-than-expected guidance as global economic and tariff worries impact its business, especially in China. The company sees current-quarter adjusted earnings per share (EPS) between $1.91 and $2.31, and revenue between $6.20 billion and $7.20 billion. Analysts surveyed by Visible Alpha were looking for $2.37 and $7.30 billion, respectively. CEO Gary Dickerson said Applied Materials was "currently operating in a dynamic macroeconomic and policy environment, which is creating increased uncertainty and lower visibility in the near term, including for our China business." CFO Brice Hill added that the company anticipates lower revenue "driven by both digestion of capacity in China and non-linear demand from leading-edge customers given market concentration and fab timing." Q3 Results Top Analysts' Estimates The warning came as the company reported strong third-quarter results. Adjusted EPS came in at $2.48, with revenue rising 8% year-over-year to $7.30 billion. Both were ahead of Visible Alpha consensus estimates. Sales at all three Applied Materials units—Semiconductor Systems ($5.43 billion), Applied Global Services ($1.60 billion), and Display ($263 million)—beat forecasts. Entering Friday's session, Applied Materials shares were more than 15% higher year-to-date. Read the original article on Investopedia 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
Harvard Business Review
7 minutes ago
- Harvard Business Review
Your Company Needs to Focus on Fewer Projects. Here's How.
In almost every organization I've advised, I've encountered the same problem: far too many projects, and far too few that truly matter. A CEO of a global nonprofit association once told me—half joking, half frustrated—that his company had 900 employees but more than 1,200 active projects. 'It's madness,' he said. 'But people love launching projects. It feels exciting. It shows progress. Stopping them? That's uncomfortable. It feels like failure.' This story is far from unique. Across the industries I've worked in—global consumer brands, leading pharmaceutical companies, financial institutions, large infrastructure firms, and even business schools—the same pattern emerges. Banks run hundreds of competing digital initiatives; consumer goods companies stretch their scarce innovation talent across dozens of 'priority' launches; health care and life sciences firms keep long-running research or compliance programs alive long after their usefulness has passed. But hidden within this challenge lies a powerful opportunity: when organizations are brave enough to focus on fewer, higher-value initiatives, the payoff can be remarkable. Energy, budgets, and talent stop being diluted and start flowing into the projects that truly matter—accelerating delivery, boosting morale, and creating a stronger sense of shared purpose. Based on my experience, most organizations could cut 50% of their active projects tomorrow without any negative consequences. In fact, in some cases, trimming 70% would make them faster, more focused, and more effective. And yet they don't. In a June 2024 survey conducted for my upcoming book, Powered by Projects: Leading Your Organization in the Transformation Age (HBR Press, January 2026), only 8% of organizations conduct monthly project reviews, 44% stop projects only occasionally, 26% rarely, and 7% never stop them at all. This obsession with starting everything is more than inefficient; it is strategically dangerous. In today's project economy, value is delivered primarily through initiatives and transformations, but that doesn't mean that more projects are better. Bloated portfolios dilute resources, slow decision-making, and prevent organizations from focusing on the projects that could truly move the needle. The first rule for thriving in this new reality is simple: Kill more projects. But here's the catch—everyone knows this, yet few know how to do it. They fear the politics, the tradeoffs, and the uncomfortable conversations, so the overload continues, quietly draining focus and momentum. Building the Habit of Stopping Launching projects is fun. Kickoffs generate energy and visibility. Meanwhile, killing projects feels quiet, awkward, and politically charged. It's no wonder that organizational overload is common, and why, despite recognizing the problem, leaders struggle to stop projects even when the case to do so is obvious. There's the sunk-cost trap: 'We've already spent too much to quit, and we're almost there.' Also reputational risk, emotional attachment, pet projects, vanity projects—we all know them when we see them. The problem isn't awareness, it's human nature and ingrained organizational habits. Annual reviews and a stated commitment to keeping project portfolios small may help around the edges, but these approaches fail to deliver true organizational focus. A senior finance executive at a European industrial group once admitted to me: 'We do big portfolio discussions once a year, but by then it's too late. Zombie projects keep running because nobody wants to be the one to stop them.' Those zombie initiatives that drain resources without delivering value are deadly. They slow down strategic transformations and exhaust teams. Breaking this cycle requires more than better governance—it demands new habits and cultural shifts. Over the past two decades, as I've advised executives across various industries, I've developed and observed seven practices that consistently yield results. These are practical habits that organizations have adopted to transform how they prioritize, govern, and ultimately stop projects. Each of these principles lessens the psychological challenge of stopping projects—and ensures these decisions are as deliberate and celebrated as starting projects. 1. Make continuation a conscious choice. In most companies, projects continue simply because no one challenges them. Effective organizations flip this default. At a global food company I advised, project reviews stopped being passive reporting exercises. Sponsors were no longer allowed to 'update' leadership with progress charts; instead, they were asked a single, pointed question: 'If you had to defend this project to the board today, would you still recommend it?' This forced sponsors to think like investors, evaluating future value instead of rationalizing past effort. Leaders told me that this small change triggered 'the most honest conversations we've ever had about our portfolio.' Within six months, 20% of projects were stopped or significantly re-scoped, releasing millions for digital upgrades that had been stalled for years. 2. Create real tradeoffs. One reason portfolios swell is that leaders rarely have to make hard choices. Budgets stretch, priorities multiply, and every initiative finds a way to survive. A telecommunications company I worked with broke this pattern by introducing 'project trading sessions.' Every business-unit leader was given a fixed 'budget' of talent and funding, with one rule: To launch a new initiative, they had to stop or 'sell' an existing project of equal value. The process wasn't just financial—it was psychological. Leaders had to publicly justify why a new project was more valuable than one already underway, creating an actual marketplace for priorities. After one session, a senior executive admitted: 'I realized I was defending projects I didn't even believe in anymore, just because nobody ever asked me to choose.' Within a year, the portfolio shrank by 35%, and execution speed for key strategic projects improved significantly. 3. Stop treating every idea as a project. Many organizations reflexively elevate too many opportunities into formal projects, complete with steering committees, governance meetings, and complex documentation. This clogs portfolios with initiatives that should have been quietly tested—or quietly abandoned. One health care and life sciences company I advised created small cross-functional 'squad teams' to explore new opportunities for 30 to 60 days. These squads had a simple mandate to test the strategic relevance and potential impact of an idea before requesting project status. The result? About 40% of ideas were dropped after this initial assessment, saving thousands of hours and keeping the organization focused on high-value initiatives. Leaders described it as 'one of the most liberating changes we've ever made.' 4. Time-box projects to three or six months. Long, open-ended projects are where focus goes to die. They create sunk-cost inertia, locking organizations into outdated priorities. An energy corporation I worked with shifted to a time-boxed approach: All new initiatives were structured as three- or six-month projects, with continuation decided at the end of each cycle. This made it easier for executives to pivot—or stop—without political fallout. Leaders could simply say, 'This cycle ends here; we're redirecting resources elsewhere.' The approach gave the company remarkable agility; for example, when customer behavior shifted sharply during a regulatory change, the firm was able to redirect investment within weeks, something that would have been unthinkable under its old multi-year programs. 5. Reward leaders who stop, not just those who start. In most organizations, careers are built on launching new initiatives, not ending them. High-performing companies change that narrative. At a global luxury company I advised, the CEO added a new KPI to senior leaders' scorecards: resources freed from low-value initiatives. Leaders had to publicly share, every quarter, which projects they had stopped and how those resources were reinvested. At first, executives were skeptical. But within two cycles, the mood shifted—leaders began competing to demonstrate their strategic judgment. One senior executive proudly told me, 'Stopping that big IT project freed 15 engineers; they're now accelerating our core digital offering. That's the impact I want to be known for.' Stopping became not a failure, but a career-enhancing signal of good leadership. 6. Spot weak projects early. The longer a weak project drags on, the harder it becomes to stop. The best organizations identify underperformers before they consume significant resources. A mid-sized European biotech firm I worked with used three simple early-warning signals: declining sponsor attendance at key meetings, repeated re-baselining of schedules, and falling stakeholder participation. If a project triggered two of these, it faced an automatic 'continuation challenge'—a structured review where leaders had to justify its survival. About 15% of projects were stopped early through this process, freeing capacity for new strategic priorities. The key wasn't sophisticated analytics, it was clear rules and the courage to act on them. 7. Restaff your people to your most strategic projects. One of the biggest reasons leaders hesitate to stop projects is the fear that doing so will lead to layoffs. When that risk is removed, the psychological barrier to cutting low-value initiatives drops dramatically. At a global bank I advised, hundreds of IT and operations staff were tied up in outdated compliance projects that no longer matched the regulatory priorities of the year. Rather than cut those roles, the COO launched a 'safe landing' program: Every person from a stopped project was guaranteed placement on one of the bank's top 10 strategic initiatives within 30 days. This policy not only retained valuable skills within the bank but also fostered trust. Teams became more willing to recommend ending projects once they knew it wouldn't put colleagues at risk. Swift, deliberate restaffing turns endings into accelerators for what matters most. Winning by Stopping What these practices have in common is not better tools, but a mindset shift. Stopping projects isn't about cutting headcount or shrinking the organization—it's about sharpening focus and amplifying impact. When organizations streamline their projects, transformation accelerates, strategies are achieved faster, and people are more motivated and productive. Energy flows to the work that truly matters, and success becomes more visible and contagious. It leads people to feel prouder to be working for your organization. At your next portfolio meeting, resist the instinct to ask, 'What should we start next?' Ask instead: 'If we could only do half of what we're doing now, which half would we keep?' And then act on that answer. Because in the project economy, winning doesn't come from starting more—it comes from stopping what no longer matters and relentlessly focusing on what does matter.
Yahoo
35 minutes ago
- Yahoo
Trump tariffs live updates: Inflation starts to show up in US economy; Trump-China next steps in focus
President Trump's tariffs are starting to show up in economic data for the first time in a significant way. Wholesale inflation surged in July, rising by its fastest pace in around three years and stunning market observers. So far, inflation data has shown little impact since Trump began rolling out sweeping duties in the spring. But as the tariffs become more engrained in the US economy, economists expect more data points to align with this week's Producer Price Index report — perhaps most notably in next month's Consumer Price Index. Meanwhile, stock markets haven't yet been phased. US and Japanese stock indexes hit all-time highs this week as the world adapts. New data this week also showed that tariffs have brought in billions in revenue, though economists say a portion of that is already coming in the form of price increases on consumers. On the negotiations front, Trump signed an executive order extending the tariff truce between the US and China for another 90 days, pushing trade negotiations out to November. Average US tariff rates on Chinese goods are currently around 55%, according to Bloomberg. Earlier this month, Trump unveiled "reciprocal" tariffs on dozens of US trade partners (which you can see in the graphic below). The next negotiations to watch are Canada, Mexico, and China in the coming months. Meanwhile, Trump has also promised to begin instituting more sectoral tariffs. He is targeting imports on semiconductors and pharmaceuticals in the near future. The tariffs are also facing legal limbo. Multiple challenges to Trump's tariffs are pending in US federal courts. The one garnering the most attention is a case heard by an appeals court in July. The Court could nullify or uphold the duties at any time. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Applied Materials' shares sink on weak China demand, tariff risks Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. China's economy lags in July under pressure from tariffs and a weak property market China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. Taiwan lifts 2025 growth forecast, defying US tariff worries Bloomberg News reports: Read more here. These tariffs are bananas An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! Tapestry forecasts annual profit below estimates on tariff pain Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tariff confusion drives record volume at Los Angeles Port (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. Pharma tariffs are likely weeks away, Reuters reports US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. Brazil's Lula announces $5.5 billion in credits for exporters hit by US tariffs Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. Swiss say tariffs could raise costs for US F-35A jets The original price of the 36 fighter jets Switzerland is buying from the United States could go up by more than $1 billion due to the impacts of tariffs. Reuters reports: Read more from Reuters here. AI boom could help manufacturers adapt to global tariff landscape Mark Bendeich of Reuters details how the confluence of supply chain disruption from Trump's tariff policy and the rise of AI software solutions is leading to increased innovation among manufacturers. Richard Howells, SAP vice president and supply chain specialist, emphasized that the uncertainty surrouding Trump's trade policy is driving the technology push. "That's how it was during the financial crisis, Brexit and COVID," Howells stated. "And it's what we're seeing now." Read more here. GE Appliances to invest over $3B in US, moving from China and Mexico GE Appliances will move production of its refrigerators, gas ranges and water heaters from China and Mexico, investing over $3 billion to expand plans in five US states. AP News reports: Read more here. Bessent dismisses China investing in US as part of a trade deal Treasury Secretary Scott Bessent ruled out Chinese investments as part of a US trade deal. When asked if China would offer a multi-billion dollar pleadges like Japan, South Korea and the EU, Bessent said no. Bloomberg News reports: Read more here. Tariffs bring in record $27.7 billion in July as Trump calls haul 'incredible for our country' Yahoo Finance's Brett LoGiurato and Ben Werschkul report: Xi takes aim at US 'protectionism' in phone call with Lula Leaders of the BRICS nations seem to be in talks. Brazilian President Lula spoke with China's leader Xi after meeting with India and Russia. This outreach comes after President Trump pulled Brazil into his trade war. During the call, China's Xi urged for coordinated efforts against US protectionism. Bloomberg News reports: Read more here. Soybean futures fall after Trump extends trade truce with China Soybean (ZS=F) prices fell back below $10 a bushel on Tuesday, after news of the US-China trade truce extension. Traders saw this truce as likely delaying major grain-purchasing deals between the two nations until later this year. Bloomberg News reports: Read more here. European Union awaits US follow-up on trade deal promises BRUSSELS (Reuters) - The European Union could not say when a joint statement on tariffs with the United States would be ready, nor when the White House would issue an executive order on European car import duties, a spokesperson said on Tuesday. The EU and U.S. reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. EU officials previously said a joint statement would follow the deal "very soon" along with executive orders from U.S. President Donald Trump on key carve-outs. "It is an agreement that we believe is strong and the best we could have ... Of course, we expect the U.S. to take further steps that are part of this agreement but I don't believe at this stage we can put a timeline on these engagements," the European Commission spokesperson said. Read more here. 'Climate of uncertainty' remains after China-US trade extension Zhou Mi, an expert at the Ministry of Commerce-backed Chinese Academy of International Trade and Economic Cooperation, told Bloomberg that there remains a "climate of uncertainty" despite the latest 90-day pause on additional tariffs enacted by the US on Monday. The Trump administration 'frequently sends out a range of signals, often through its negotiation tactics and public statements — some of which even contradict each other,' Zhou told Bloomberg. 'This creates a climate of uncertainty that makes businesses and markets increasingly concerned about the stability and outlook for economic and trade policies between China and the US, as well as the US and other countries." Average US tariffs on good imported from China currently sit at 55%. Read more here. Swiss precious metals group wants 'a formal and binding decision' on Trump gold tariff promise Not everyone is fully satisfied with President Donald Trump's social media statement on not putting tariffs on gold after uncertainty in the bullion market in recent days. "President Trump's statement is an encouraging signal for trade stability," Christoph Wild, president of the the the Swiss precious metals association ASFCMP, stated on Tuesday. "However, only a formal and binding decision will provide the certainty the gold sector and its partners require." Read more here. China urges firms not to use Nvidia H20 chips in new guidance China has told local companies to avoid using Nvidia (NVDA) H20 processors, especially for government work. This makes it harder for Nvidia to recover billions in lost sales in China and affects the US government's plan to benefit from those sales. This latest move by China appears to be in response to the deal Nvidia and AMD (AMD) made with the US government over the weekend to pay the US 15% of the revenue for AI-related chip sales to China, adding a monetization layer to the Trump administration's tariff policy that has reoriented global trade relationships. In recent weeks, Chinese officials warned several firms against using these less advanced chips. The strongest advice was to keep J20 processors out of government national security projects, both for state-owned and private companies. Bloomberg News reports: Read more here. Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. Applied Materials' shares sink on weak China demand, tariff risks Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. China's economy lags in July under pressure from tariffs and a weak property market China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. Taiwan lifts 2025 growth forecast, defying US tariff worries Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. These tariffs are bananas An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! Tapestry forecasts annual profit below estimates on tariff pain Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tariff confusion drives record volume at Los Angeles Port (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. Pharma tariffs are likely weeks away, Reuters reports US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. Brazil's Lula announces $5.5 billion in credits for exporters hit by US tariffs Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. Swiss say tariffs could raise costs for US F-35A jets The original price of the 36 fighter jets Switzerland is buying from the United States could go up by more than $1 billion due to the impacts of tariffs. Reuters reports: Read more from Reuters here. The original price of the 36 fighter jets Switzerland is buying from the United States could go up by more than $1 billion due to the impacts of tariffs. Reuters reports: Read more from Reuters here. AI boom could help manufacturers adapt to global tariff landscape Mark Bendeich of Reuters details how the confluence of supply chain disruption from Trump's tariff policy and the rise of AI software solutions is leading to increased innovation among manufacturers. Richard Howells, SAP vice president and supply chain specialist, emphasized that the uncertainty surrouding Trump's trade policy is driving the technology push. "That's how it was during the financial crisis, Brexit and COVID," Howells stated. "And it's what we're seeing now." Read more here. Mark Bendeich of Reuters details how the confluence of supply chain disruption from Trump's tariff policy and the rise of AI software solutions is leading to increased innovation among manufacturers. Richard Howells, SAP vice president and supply chain specialist, emphasized that the uncertainty surrouding Trump's trade policy is driving the technology push. "That's how it was during the financial crisis, Brexit and COVID," Howells stated. "And it's what we're seeing now." Read more here. GE Appliances to invest over $3B in US, moving from China and Mexico GE Appliances will move production of its refrigerators, gas ranges and water heaters from China and Mexico, investing over $3 billion to expand plans in five US states. AP News reports: Read more here. GE Appliances will move production of its refrigerators, gas ranges and water heaters from China and Mexico, investing over $3 billion to expand plans in five US states. AP News reports: Read more here. Bessent dismisses China investing in US as part of a trade deal Treasury Secretary Scott Bessent ruled out Chinese investments as part of a US trade deal. When asked if China would offer a multi-billion dollar pleadges like Japan, South Korea and the EU, Bessent said no. Bloomberg News reports: Read more here. Treasury Secretary Scott Bessent ruled out Chinese investments as part of a US trade deal. When asked if China would offer a multi-billion dollar pleadges like Japan, South Korea and the EU, Bessent said no. Bloomberg News reports: Read more here. Tariffs bring in record $27.7 billion in July as Trump calls haul 'incredible for our country' Yahoo Finance's Brett LoGiurato and Ben Werschkul report: Yahoo Finance's Brett LoGiurato and Ben Werschkul report: Xi takes aim at US 'protectionism' in phone call with Lula Leaders of the BRICS nations seem to be in talks. Brazilian President Lula spoke with China's leader Xi after meeting with India and Russia. This outreach comes after President Trump pulled Brazil into his trade war. During the call, China's Xi urged for coordinated efforts against US protectionism. Bloomberg News reports: Read more here. Leaders of the BRICS nations seem to be in talks. Brazilian President Lula spoke with China's leader Xi after meeting with India and Russia. This outreach comes after President Trump pulled Brazil into his trade war. During the call, China's Xi urged for coordinated efforts against US protectionism. Bloomberg News reports: Read more here. Soybean futures fall after Trump extends trade truce with China Soybean (ZS=F) prices fell back below $10 a bushel on Tuesday, after news of the US-China trade truce extension. Traders saw this truce as likely delaying major grain-purchasing deals between the two nations until later this year. Bloomberg News reports: Read more here. Soybean (ZS=F) prices fell back below $10 a bushel on Tuesday, after news of the US-China trade truce extension. Traders saw this truce as likely delaying major grain-purchasing deals between the two nations until later this year. Bloomberg News reports: Read more here. European Union awaits US follow-up on trade deal promises BRUSSELS (Reuters) - The European Union could not say when a joint statement on tariffs with the United States would be ready, nor when the White House would issue an executive order on European car import duties, a spokesperson said on Tuesday. The EU and U.S. reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. EU officials previously said a joint statement would follow the deal "very soon" along with executive orders from U.S. President Donald Trump on key carve-outs. "It is an agreement that we believe is strong and the best we could have ... Of course, we expect the U.S. to take further steps that are part of this agreement but I don't believe at this stage we can put a timeline on these engagements," the European Commission spokesperson said. Read more here. BRUSSELS (Reuters) - The European Union could not say when a joint statement on tariffs with the United States would be ready, nor when the White House would issue an executive order on European car import duties, a spokesperson said on Tuesday. The EU and U.S. reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. EU officials previously said a joint statement would follow the deal "very soon" along with executive orders from U.S. President Donald Trump on key carve-outs. "It is an agreement that we believe is strong and the best we could have ... Of course, we expect the U.S. to take further steps that are part of this agreement but I don't believe at this stage we can put a timeline on these engagements," the European Commission spokesperson said. Read more here. 'Climate of uncertainty' remains after China-US trade extension Zhou Mi, an expert at the Ministry of Commerce-backed Chinese Academy of International Trade and Economic Cooperation, told Bloomberg that there remains a "climate of uncertainty" despite the latest 90-day pause on additional tariffs enacted by the US on Monday. The Trump administration 'frequently sends out a range of signals, often through its negotiation tactics and public statements — some of which even contradict each other,' Zhou told Bloomberg. 'This creates a climate of uncertainty that makes businesses and markets increasingly concerned about the stability and outlook for economic and trade policies between China and the US, as well as the US and other countries." Average US tariffs on good imported from China currently sit at 55%. Read more here. Zhou Mi, an expert at the Ministry of Commerce-backed Chinese Academy of International Trade and Economic Cooperation, told Bloomberg that there remains a "climate of uncertainty" despite the latest 90-day pause on additional tariffs enacted by the US on Monday. The Trump administration 'frequently sends out a range of signals, often through its negotiation tactics and public statements — some of which even contradict each other,' Zhou told Bloomberg. 'This creates a climate of uncertainty that makes businesses and markets increasingly concerned about the stability and outlook for economic and trade policies between China and the US, as well as the US and other countries." Average US tariffs on good imported from China currently sit at 55%. Read more here. Swiss precious metals group wants 'a formal and binding decision' on Trump gold tariff promise Not everyone is fully satisfied with President Donald Trump's social media statement on not putting tariffs on gold after uncertainty in the bullion market in recent days. "President Trump's statement is an encouraging signal for trade stability," Christoph Wild, president of the the the Swiss precious metals association ASFCMP, stated on Tuesday. "However, only a formal and binding decision will provide the certainty the gold sector and its partners require." Read more here. Not everyone is fully satisfied with President Donald Trump's social media statement on not putting tariffs on gold after uncertainty in the bullion market in recent days. "President Trump's statement is an encouraging signal for trade stability," Christoph Wild, president of the the the Swiss precious metals association ASFCMP, stated on Tuesday. "However, only a formal and binding decision will provide the certainty the gold sector and its partners require." Read more here. China urges firms not to use Nvidia H20 chips in new guidance China has told local companies to avoid using Nvidia (NVDA) H20 processors, especially for government work. This makes it harder for Nvidia to recover billions in lost sales in China and affects the US government's plan to benefit from those sales. This latest move by China appears to be in response to the deal Nvidia and AMD (AMD) made with the US government over the weekend to pay the US 15% of the revenue for AI-related chip sales to China, adding a monetization layer to the Trump administration's tariff policy that has reoriented global trade relationships. In recent weeks, Chinese officials warned several firms against using these less advanced chips. The strongest advice was to keep J20 processors out of government national security projects, both for state-owned and private companies. Bloomberg News reports: Read more here. China has told local companies to avoid using Nvidia (NVDA) H20 processors, especially for government work. This makes it harder for Nvidia to recover billions in lost sales in China and affects the US government's plan to benefit from those sales. This latest move by China appears to be in response to the deal Nvidia and AMD (AMD) made with the US government over the weekend to pay the US 15% of the revenue for AI-related chip sales to China, adding a monetization layer to the Trump administration's tariff policy that has reoriented global trade relationships. In recent weeks, Chinese officials warned several firms against using these less advanced chips. The strongest advice was to keep J20 processors out of government national security projects, both for state-owned and private companies. Bloomberg News reports: Read more here. Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. 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
