Apollo's Zelter: Trump's ‘Already Won' on Fed Talk
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures hold steady as Wall Street braces for July inflation report
US stock futures wavered around the flatline as Wall Street braced for July's inflation report and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) held steady. After the bell on Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. "E.J. will ensure that the Numbers released are HONEST and ACCURATE," the president said on Truth Social. Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report, which contained "larger than normal" revisions to data and revealed fewer jobs than previously thought had been added to the economy. Trump said, without providing evidence, that McEntarfer had been acting politically and her numbers "were wrong." Trump also met with Intel CEO Lip-Bu Tan Monday evening, which boosted its stock in after-hours trading. Last week, the president called for Tan to resign, but after Monday's meeting he indicated his cabinet would continue discussions with the CEO, without specifying the topics under consideration. During day trading, stocks slumped even as Trump granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Wall Street is preparing for the release of July's Consumer Price Index (CPI) report on Tuesday morning. Analysts expect it to show that prices increased as Trump's tariffs kicked in. A hot inflation report could put the Federal Reserve in a tight spot as it navigates rising prices amid recent signs of a weakening labor market. In the background, anticipation over the possibility of a September interest rate cut continues to grow. Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. 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
Yahoo
21 minutes ago
- Yahoo
Statement Limousine Expands Northeast Ohio Presence with Acquisition of CT Limo
Statement Limousine, LLC acquires CT Limo to broaden service reach across Northern Ohio, enhancing resources and client experience. Sheffield, Ohio--(Newsfile Corp. - August 11, 2025) - Statement Limousine, LLC, a leading luxury transportation provider in Northern Ohio, has announced the acquisition of CT Limo, a respected name in Cleveland-area chauffeured services. This move significantly expands Statement Limousine's operational reach and client base, positioning the company for further growth in a dynamic and competitive industry. Founded in 2016 and operating 24/7, Statement Limousine has earned a reputation for precision and reliability in luxury transportation. The integration of CT Limo, which has served more than 10,000 clients, marks an essential step in expanding coverage across Northeast Ohio. The acquisition brings together two service-focused teams under a unified standard of excellence, ensuring operational continuity and enhanced client support throughout the region. Statement Limousine Expands Northeast Ohio Presence To view an enhanced version of this graphic, please visit: "This acquisition aligns with our mission to provide safe, reliable, and luxurious transportation while extending our reach in Cleveland and Akron," said Karl Guenther, CEO of Statement Limousine. "We are excited to welcome CT Limo and Cleveland Taxi Limo clients into our fold, where they can continue to expect premium service and personal attention." Clients across the region will benefit from improved access to professional Cleveland Limo Service backed by expanded resources and a unified fleet. The combined teams will deliver each experience with precision, care, and customer-focused attention. New clients are encouraged to explore service options and conveniently request a quote by visiting the company's website. Statement Limousine, LLC acquires CT Limo to broaden service reach across Northern Ohio To view an enhanced version of this graphic, please visit: With a modern fleet that includes sedans, stretch limousines, and executive buses, Statement Limousine continues to support a wide range of transportation needs. Beyond its core offerings, the company also provides specialized services such as Golf Tours, Bachelor and Bachelorette Party Transportation, Holiday Lights Tours, and Sunday Funday outings-each designed to enhance group experiences with comfort and reliability. Statement Limousine operates with integrity, responsibility, and inclusivity. Its environmental awareness, adherence to safety protocols, and commitment to compliance are the cornerstones of its continued success. The acquisition of CT Limo strengthens the company's standing in Northern Ohio and reflects its continued investment in delivering dependable, professional transportation for every occasion. About Statement Limousine Statement Limousine, LLC is a luxury transportation provider based in Sheffield Village, Ohio. The company provides professional chauffeured services throughout the Greater Cleveland area, including solutions for weddings, corporate events, airport transfers, and leisure outings. With a versatile fleet and a commitment to safety, respect, and efficiency, Statement Limousine remains a trusted provider for individual and group transportation throughout Northern Ohio. info@ Media Contact: To view an enhanced version of this graphic, please visit: Company Name: Statement Limousine, LLC Contact Person: Karl Guenther Phone: (440) 949-2220 Address: 3901 Colorado Avenue City: Sheffield Village State: OH Postal Code: 44054 Country: United States Website: To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
21 minutes ago
- Yahoo
Analysis-Trump's unusual Nvidia deal raises new corporate and national security risks, lawmakers and experts say
By Karen Freifeld, Arsheeya Bajwa and Alexandra Alper (Reuters) -U.S. President Donald Trump upended decades of U.S. national security policy, creating an entirely new category of corporate risk, when he made a deal with Nvidia to give the U.S. government a cut of its sales in exchange for resuming exports of banned AI chips to China. Historically, the U.S. government made decisions to control the export of sensitive technologies on national security grounds. Those decisions were viewed as non-negotiable; if a technology was controlled, companies could not buy their way around those controls, no matter how lucrative the foregone foreign sales. On Monday, Trump raised the prospect of ending that era, saying he would allow Nvidia to sell its H20 chips to China in exchange for the U.S. government receiving a 15% cut of the company's sales of some advanced chips in that country. He made a similar deal with Nvidia's smaller rival AMD. He also told reporters he was open to allowing Nvidia to sell a scaled-down version of its current flagship Blackwell chips to China. Months earlier, his own administration had banned the sale of H20 chips to China, reversing the decision in July as part of what the government said were negotiations on rare earths. The latest move drew condemnation from U.S. lawmakers in both parties who warned that it risked creating a pay-for-play framework for the sale of sensitive technologies to U.S. adversaries, a concern echoed by analysts and legal experts. "Export controls are a frontline defense in protecting our national security, and we should not set a precedent that incentivizes the government to grant licenses to sell China technology that will enhance its AI capabilities," said U.S. Representative John Moolenaar, a Michigan Republican who chairs the House Select Committee on China. Representative Raja Krishnamoorthi of Illinois, the ranking Democrat on the same committee, said that "by putting a price on our security concerns, we signal to China and our allies that American national security principles are negotiable for the right fee." To be sure, the Trump administration has said the national security risks of resuming H20 sales are minimal because the chip was sold widely in China. U.S. Commerce Secretary Howard Lutnick last month described the H20 as Nvidia's "fourth-best chip" in an interview with CNBC. He said it was in U.S. interests for Chinese firms to keep using American technology. LEGAL? But the deal is extremely rare for the U.S. and marks Trump's latest intervention in corporate decision-making, after pressuring executives to invest in American manufacturing and demanding the resignation of Intel's CEO, Lip-Bu Tan, over his ties to Chinese companies. It is unclear whether Trump's move is legal. The U.S. Constitution prohibits Congress from levying taxes and duties on articles exported from any state. Trade lawyer Jeremy Iloulian said it is hard to tell if this would be considered an "export tax" or some other form of payment without knowing more about the agreement. "Up until today, there has never been a consideration of how much companies need to pay to receive an export license," Iloulian said. Added Kyle Handley, a professor at the University of California San Diego School of Global Policy and Strategy: "It sure looks like an export tax to me ... they can call it whatever they want. It really looks a lot like the government is skimming a little bit off the top." When asked if Nvidia had agreed to pay 15% of revenue to the U.S., a company spokesperson said, "We follow rules the U.S. government sets for our participation in worldwide markets." "While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide," the spokesperson added. A spokesperson for AMD said the U.S. approved its applications to export some AI processors to China but did not directly address the revenue-sharing agreement and said the company's business adheres to all U.S. export controls. 'I think it's fair to say that everything now in this administration seems negotiable in ways that were not the case before," said Sarah Kreps, a professor at the Brooks School of Public Policy at Cornell University. "I don't think this is unique in that this will be the last kind of deal like this that we see.' 'SLIPPERY SLOPE' Equities analysts said the levy could hit margins at chipmakers and set a precedent for Washington to tax critical U.S. exports. "It feels like a slippery slope to us," said Bernstein analysts, who expect the deal to cut gross margins on the China-bound processors by 5 to 15 percentage points, shaving about a point from Nvidia and AMD's overall margins. "Naturally, not only chipmakers but also companies selling other strategic products to China will wonder if the remittance model could apply to their industries," said Hendi Susanto, a portfolio manager at Gabelli, which holds shares in Nvidia. "For sellers of strategic products to China, remittance could be a burden - or a lifeline to preserve market access to huge and growing opportunities in China," Susanto said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
