Giant US Companies Are Rushing to Europe to Borrow Money
The giants of corporate America from Pfizer Inc. to Alphabet Inc. are borrowing in euros like never before as the anxiety triggered by President Donald Trump's tariff threats pushes them to hunt for alternative funding avenues in case their home market freezes up.
A record number of these so-called reverse Yankee deals have been sold this year at a total value of more than €83 billion ($94 billion), up 35% on 2024, according to data compiled by Bloomberg. That's nearly 14% of overall euro corporate issuance, the data shows.
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Latest Donald Trump approval ratings: new poll finds good news for president
Registered voters like what they see from President Donald Trump, according to a new poll. A survey released by Napolitan News Service found that 51% of respondents approve of Trump's handling of the presidency. Of those respondents, 30% said they 'strongly' approve of the work Trump has done so far, while 21% said they just 'slightly' approve. The poll also found that 46% of respondents disapprove of Trump's work in the Oval Office. Among those who said they disapprove, 35% said they 'strongly' disapprove, while 11% said they only 'somewhat' disapprove. Only 2% of respondents said they were not sure about how Trump has handled the job of the presidency, according to the poll. The poll was conducted between May 27 and June 3 with a sample size of 3,000 registered voters. The poll's margin of error is plus or minus 1.8%. The Napolitan News Service is part of the Napolitan Institute, founded by veteran Republican pollster Scott Rasmussen, The organization bills itself as involved in 'rigorous, unbiased polling,' providing 'deep insights into American sentiment.' These numbers represent an incremental improvement in Trump's approval rating when compared to Neapolitan News Service's previous poll, conducted between May 20 and May 29. In that poll, 50% of respondents said they disapproved of Trump's handling of the presidency, while 49% said they approved. The previous poll's sample size also was 3,000 registered voters. It had a margin of error of plus or minus 1.8%. The last time a Napolitan News Service poll found that a clear majority of respondents approved of Trump's handling of the presidency was in May. The poll, conducted between May 7 and May 15, found that 52% of respondents expressed approval, while 48% expressed disapproval. Like the other two polls, the survey's sample size is 3,000 registered voters and has a margin of error of plus or minus 1.8%. Other polls conducted around the same time as the Napolitan News Service poll offer mixed results for the president's approval rating. A YouGov/Economist poll conducted between May 30 and June 2 found 49% of respondents disapproving of the job Trump is doing as president, while 45% approve of the work he is doing. The poll's sample size is 1,610 U.S. adults. It has a margin of error of plus or minus 3.2%. A CBS News/YouGov poll conducted between June 4 and June 6 found that a majority of respondents (55%) disapprove of Trump's work as president compared to 45% who said they approve. The CBS News/YouGov poll's sample size is 2,428 U.S. adults. Its margin of error is plus or minus 2.4%. Over 12,000 Harvard alums lend weight to court battle with Trump in new filing Mass. Sen. Warren: DOGE accessed 'sensitive' student loan data at Education Dept., calls for probe Markey: Trump using National Guard in LA to distract from big cuts in 'Big Beautiful Bill' Can the Mass. GOP flip this Taunton state House seat? | Bay State Briefing ABC News suspends correspondent over social media post critical of President Trump Read the original article on MassLive.
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Can $1,000 at birth change a child's future? A Republican proposal aims to find out
WASHINGTON (AP) — When children of wealthy families reach adulthood, they often benefit from the largesse of parents in the form of a trust fund. It's another way they get a leg up on less affluent peers, who may receive nothing at all — or even be expected to support their families. But what if all children — regardless of their family's circumstances — could get a financial boost when they turn 18? That's the idea behind a House GOP proposal backed by President Donald Trump. It would create accounts for all babies born in the U.S. over the next four years with $1,000 that would accrue interest until the children reach adulthood. At age 18, they could withdraw the money to put toward a down payment for a home, education or to start a small business. If the money is used for other purposes, it'll be taxed at a higher rate. It builds on the concept of ' baby bonds,' which two states — California and Connecticut — and the District of Columbia have introduced as a way to reduce gaps between wealthy people and poor people. Rep. Blake Moore, a Republican from Utah, spearheaded the effort to get the initiative into a massive House spending bill. In an op-ed for the Washington Examiner, he said wealth inequality has soured many people on capitalism. 'Trump Accounts,' as the proposal calls them, could be the antidote, he said. 'We know that America's economic engine is working, but not everyone feels connected to its value and the ways it can benefit them," Moore wrote. 'If we can demonstrate to our next generation the benefits of investing and financial health, we can put them on a path toward prosperity.' The bill calls for the money to be handled by investment firms. The bill would require at least one parent to produce a Social Security number with work authorizations, meaning the U.S. citizen children born to some categories of immigrants would be excluded from the benefit. But unlike other baby bond programs, which generally target disadvantaged groups, this one would be available to families of all incomes. 'When little baby is born they're gonna start off with a thousand dollars and if we do a good job of investing their money — we're going to go with one of the investing guidelines, who the hell knows if they're any good — but they have a chance to be very rich,' Trump said at a rally last week in Pittsburgh. 'It's going to be very cute to see.' Economist Darrick Hamilton of The New School, who first pitched the idea of baby bonds a quarter-century ago, said the GOP proposal would exacerbate rather than reduce wealth gaps. He envisioned a program that would be universal but would give children from poor families a larger endowment than their wealthier peers, in an attempt to level the playing field. The money would be handled by the government, not by private firms on Wall Street. 'It is upside down,' Hamilton said. 'It's going to enhance inequality.' Hamilton added that $1,000 — even with interest — would not be enough to make a significant difference for a child living in poverty. A Silicon Valley investor who created the blueprint for the proposal, Brad Gerstner, said in an interview with CNBC last year that the accounts could help address the wealth gap and the loss of faith in capitalism that represent an existential crisis for the U.S. 'The rise and fall of nations occurs when you have a wealth gap that grows, when you have people who lose faith in the system,' Gerstner said. 'We're not agentless. We can do something.' The proposal comes as Congressional Republicans and Trump face backlash for proposed cuts to programs that poor families with children rely on, including food assistance and Medicaid. Even some who back the idea of baby bonds are skeptical, noting Trump wants to cut higher education grants and programs that aid young people on the cusp of adulthood — the same age group Trump Accounts are supposed to help. Pending federal legislation would slash Medicaid and food and housing assistance that many families with children rely on. Young adults who grew up in poverty often struggle with covering basics like rent and transportation — expenses that Trump Accounts could not be tapped to cover, said Eve Valdez, an advocate for youth in foster care in southern California. Accounts for newborn children that cannot be accessed for 18 years mean little to families struggling to meet basic needs today, said Shimica Gaskins of End Child Poverty California. 'Having children have health care, having their families have access to SNAP and food are what we really need ... the country focused on,' Gaskins said. ___ The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
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Apple doesn't have a shiny new thing to show off at WWDC. But that's not Tim Cook's biggest problem.
Apple often uses its annual developers conference to launch major new products. That doesn't seem likely this year. Instead, expect people to spend a lot of time focusing on Apple's weak points — exactly what CEO Tim Cook doesn't want. Apple kicks off its Worldwide Developers Conference on Monday — traditionally an event where the company tries to woo developers, users, and Wall Street all at once. Maybe that will happen this time around. But only because expectations are so low: Apple is limping into this year beset with all kinds of problems, from many directions, and it's not clear how it's going to work its way out from them. Let's get this part out of the way at the top: You, a normal person, are unlikely to care about anything Apple announces at WWDC this week. Two years ago, Apple used the event to unveil its Vision Pro headset; last year, it showed off Apple Intelligence, its entry into the AI wars. Forget the fact that both of those products underwhelmed once they launched — they were at least something new for Apple to talk about. But barring a surprise, it doesn't look like there will be any major new unveilings at WWDC this week. Bloomberg's Mark Gurman, who is exceptionally dialed into Apple, has a preview of what's on tap and it all seems underwhelming: Even the most ardent Apple fans are unlikely to be excited about new interfaces, icons, and names. And while Apple is scrambling to catch up in AI — turns out a bunch of the stuff it showed off last year has yet to actually materialize — it won't have much progress to announce this week. Gurman predicts that Apple's AI announcements "will be surprisingly minor and are unlikely to impress industry watchers, especially considering the rapid pace of innovation" from the likes of Google, Meta, and OpenAI. All of which means people watching and thinking and talking about Apple may likely end up focusing on Apple's problems, instead of its promise. Not a place Tim Cook wants to be — and not where investors want him to be, which is why Apple stock is down more than 18% in 2025. Here's a look at what he's facing right now: Tariff trouble: Exactly how much will Apple have to pay to bring in new phones and other gadgets to the US from China? And what happens if they shift production — or at least final assembly — of those products to India or Vietnam? Who knows? Donald Trump's tariff policies remain fluid at best. Trump continues to insist that he wants Apple to build its products in the US — regardless of whether that's possible — and the spectre of some kind of Trump-imposed tax that makes Apple products much more expensive remains a real possibility. AI angst: Apple has two very big problems when it comes to AI. As my colleague Alistair Barr points out, Apple's competitors have long, long leads in AI research, and it's unclear if Apple will ever be able to keep up. Right now, it can't even provide working versions of stuff it showed off a year ago. There's a possible future where Apple does just fine not having cutting-edge AI because it can simply use its massive distribution advantage — a billion-plus Apple devices in people's pockets. But being wholly dependent on other people for tech that's supposed to be table stakes in a few years isn't a great place to be. Government headaches: Regulators around the world have been lining up to take a crack at Apple — including the US Department of Justice, which filed an antitrust lawsuit against the company a year ago. (A separate federal antitrust against Google could also hurt Apple, by potentially ending a long-standing deal where Google pays Apple more than $20 billion a year to make its search engine the default on iPhones.) Apple's most persistent foe seems to be the European Union, which has come out with a series of rulings and judgments against Apple. Some of these don't seem crucial to Apple's future — see, for instance, its move to change the charging ports on its phone to adapt to an EU mandate a few years ago. But Apple says an EU ruling forcing it to change the way it runs it powerful App Store is "yet another example of the European Commission unfairly targeting Apple in a series of decisions that are bad for the privacy and security of our users, bad for products, and force us to give away our technology for free," and is pushing back as hard as it can. (It's also hoping that Donald Trump's administration will come to its aid.) Developers, developers, developers: Europeans aren't the only ones complaining about the way Apple runs its App Store. It continues to hear from a loud contingent of developers who complain that Apple's rules around its store unfairly hamper their business. In the case of Fortnite-maker Epic Games, that kicked off a legal fight that started in 2020, and took a sharp turn earlier this year when a US judge ruled that Apple had to allow developers to tell users they could buy stuff from them without going through the App Store — a move that could threaten a huge stream of revenue for Apple. But the app store also generates a vibes problem for Apple, with high-profile critics like Apple blogger John Gruber arguing that Apple has gone from courting developers to making it hard for them to make a living. Apple is most definitely sensitive to that criticism, which is why it often puts out press releases pointing out how much money developers make by selling stuff via Apple. (Its newest release puts that number at $1.3 trillion in 2024 alone.) And this week's event, remember, has the word "developer" in the title, so you can expect Apple to continue to insist that it's on the software guys' side. Don't be surprised if you hear from folks who feel otherwise. Read the original article on Business Insider 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
