
Trump's 39% Tariff Bombshell Crashes Swiss National Day Party
Save
Switzerland's political and business elite are reeling from Donald Trump's shock punitive tariffs that the government was confident it had avoided.
The US president's decision to slap tariffs of 39% on all Swiss imports is among the most dramatic of any so far, heralding a rude awakening on Friday, a national holiday that is a highlight of Switzerland's summer calendar.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
23 minutes ago
- Bloomberg
Hong Kong Dollar Bounces Back on Stock Inflows, Higher Yields
The Hong Kong dollar strengthened to the middle of its fixed trading range against the greenback for the first time since May, buoyed by stock inflows and a narrower interest-rate gap with the US. The city's currency appreciated as much as 0.3% to 7.7991 per dollar on Tuesday. Hong Kong's interest-rate gap with the US has shrunk to the smallest since May, making bearish bets against the local currency via so-called carry trades less appealing.


Skift
24 minutes ago
- Skift
Google Picks India for Early Rollout of AI-Powered Flight Deals Tool
Tech giant Google has announced that India along with the U.S. and Canada will be the first markets where Flight Deals, its new AI-powered search tool within Google Flights, will roll out this week. Users will be able to use this feature on a Flight Deals page, or in the Google Flights menu in the top left without any opt-in. The feature is geared toward travelers who are open to a variety of destinations and dates of travel as a tradeoff for getting bargain prices, Skift reported. Google said the tool uses artificial intelligence 'to understand the nuances of what you are looking for and identify matching destinations.' It combines that with real-time Google Flights data to show relevant choices from airlines and booking sites. Until now, most of Google's AI-powered travel features have been centered around Google Search and Google Maps, and not the Google Travel portal. Why India: Google choosing India alongside the U.S. and Can


Business Upturn
25 minutes ago
- Business Upturn
Morgan Stanley highlights strong profitability at OMCs, says Russian crude discounts continue
By Markets Desk Published on August 19, 2025, 08:10 IST Morgan Stanley has highlighted the strong performance of India's state-owned oil marketing companies (OMCs) — BPCL, HPCL and IOCL — in the first quarter of FY26, noting that they collectively delivered US$2.8 billion in profits, US$2.0 billion in operating cash flow, and de-leveraged their balance sheets by US$4.4 billion. The brokerage said average return on equity stood at 18% during the quarter, reflecting healthy margins and improved balance sheet strength. Russian crude sourcing continues to play a critical role, with discounts in the US$2–3 per barrel range. BPCL expects around 35% of its crude sourcing to come from Russia this fiscal year, while HPCL's stood at 13% in the first quarter. EBITDA per barrel was between US$10 and US$15, around twice the long-term average for BPCL, as margins outperformed, while HPCL benefitted from cost improvements. IOCL, however, continued to underperform on margins relative to its peers. Morgan Stanley also flagged intensifying competition in the industrial diesel segment, where private players are offering larger discounts and gaining improved access to fuel infrastructure. Losses from subsidised cooking gas sales were compensated at around US$3 per barrel, helping support earnings. The brokerage said the OMCs' profitability reflects strong operational leverage and stable crude dynamics, although competitive pressures in certain segments warrant attention. Disclaimer: The views and recommendations made in this article are those of Morgan Stanley. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions. Ahmedabad Plane Crash Markets Desk at