logo
India's hi-tech ambitions get a boost from Apple and U.S. tariffs

India's hi-tech ambitions get a boost from Apple and U.S. tariffs

CNN5 hours ago

Even before Trump's latest trade war, India was gunning for a greater slice, not only of the smartphone industry, but the entire supply chain, hoping to lure more international businesses away from China. Now, with Apple announcing it will build all US-bound smartphones in India, and US tariffs potentially handing it a competitive advantage, India is seeing new momentum. CNN's Clare Sebastian visits a city outside Delhi that has been transformed by India's hi-tech ambitions.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Payoneer CEO sees trade bumps as short-term
Payoneer CEO sees trade bumps as short-term

Yahoo

time17 minutes ago

  • Yahoo

Payoneer CEO sees trade bumps as short-term

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. U.S.-led global trade disruption is turbulent in the near-term but represents a long-term tailwind for cross-border payments specialist Payoneer Global as companies adjust and find new trading partners, the company's chief executive contended in an interview this month. President Donald Trump in April introduced a new 125% U.S. tariff on a broad range of goods imported from China, atop a prior 20% duty. That resulted in Chinese leaders imposing a reciprocal tax for U.S. goods. The countries later announced a 90-day pause on the duties, pending negotiations. The bulk of the U.S. tariffs on Chinese goods are delayed until Aug. 12, according to a Trump tariff tracker by law firm Reed Smith LLP, pending talks between the countries. The same month Trump launched his trade war, Payoneer became licensed by China to provide online payment services in China, with its acquisition of Easylink Payment Co. 'The reordering, reshaping, reimagining of global trade plays to Payoneer's strengths,' Payoneer CEO John Caplan said in a June 13 interview, arguing that entrepreneurs operating small and medium-sized businesses adapt rapidly to U.S. trade policy. As a result, he said, exporters' quest to find new markets fuels Payoneer's accounts payable and receivables business. The nearer-term, however, carries 'an air pocket of disruption,' Caplan added. The trade turmoil prompted New York-based Payoneer to withdraw its full-year financial guidance on May 7 citing the 'macroeconomic uncertainty' unleashed by Trump's trade war. 'There are entrepreneurs around the globe who are reacting to shifts of policy, and they are incredibly resilient about finding pools of opportunity for their businesses,' Caplan said. 'People in the West are sourcing goods where they need to find them, and people in the East are diversifying where they sell and where they manufacture. Both of those dynamics end up benefiting Payoneer,' he said. The cross-border payments specialist has 20% of its revenue – about $200 million – tied to China-based companies that sell into the U.S., William Blair analysts Christopher Kennedy and Marc Feldman wrote in a June 5 client note. Another 15% of Payoneer revenue is from China-based firms that sell to countries outside the U.S. Overall, 40% of Payoneer's revenue involves business that 'never touches the United States,' Caplan said. About $50 million of Payoneer's revenue could be affected by tariff-related trade disruptions in the second half of this year, the William Blair analysts said, citing the company. Payoneer says it has two million active customers across 190 countries and that it held about $7 billion in customer funds on which it pays no interest, as of the first quarter this year, according to its quarterly earnings presentation. The company turned profitable last year, and has told investors to expect longer-term earnings margins of at least 25% beyond 2026. Under Caplan, who became CEO in March 2023, Payoneer has sought to move upmarket and do business with larger companies that bring more volume. Still, its focus remains on small and mid-sized businesses, many of them in emerging markets, and how to simplify cross-border payments for companies that may be too small for large financial institutions to service effectively, Caplan said. 'Our business is just about as diversified as you could get,' he said, referencing its breadth across the globe. Shares of the company have declined 35% this year, owing to investor fears over its exposure to customers with businesses that export goods from or into China. The trade turmoil is 'a short-term headwind but an extraordinary long-term tailwind for our firm,' Caplan said at the conference. Recommended Reading Mastercard, PayPal mull stablecoins for B2B payments

Why EchoStar Has Blasted 48% Higher This Week
Why EchoStar Has Blasted 48% Higher This Week

Yahoo

time18 minutes ago

  • Yahoo

Why EchoStar Has Blasted 48% Higher This Week

Bloomberg reported that President Donald Trump wants the U.S. Federal Communications Commission (FCC) and EchoStar, which owns spectrum licenses, to end their dispute and make a deal. The FCC is reviewing whether EchoStar is in federal compliance, which is crucial to the company's plan to build out a 5G internet network. EchoStar's spectrum licenses are very valuable and could be worth a lot more than the company's current market cap. 10 stocks we like better than EchoStar › Since last Friday, shares of the satellite television and wireless operator EchoStar (NASDAQ: SATS) had blasted nearly 48% higher as of Thursday, a day in which the market is closed due to the observance of Juneteenth. The stock rocketed higher after media outlets reported that President Trump has encouraged the company and the U.S. Federal Communications Commission (FCC) to make a deal and end their dispute. EchoStar owns several satellite, phone, and television companies, including Boost Mobile, HughesNet, Dish, and Sling. The company and its subsidiaries also own spectrum licenses, which grant it approval to use parts of the electromagnetic spectrum, which is critical for operating and providing various forms of wireless communications. Earlier this year, the FCC said they were investigating whether EchoStar is complying with the necessary federal laws to keep its spectrum licenses that it needs to build out its planned 5G internet service in the U.S. In response, EchoStar decided to not make interest payments on some of its bonds, which gave the company 30 additional days to make payments, in hopes the FCC would finish its review. These events led some to believe the company may ultimately default on the payments and enter bankruptcy. Trump's intervention and the administration's deregulatory approach has likely made some investors think a deal will be made. Bloomberg also reported earlier this week that FCC Chair Brendan Carr told EchoStar to sell some of its spectrum licenses or potentially lose them. UBS analyst John Hodulik said in a research report earlier this week that the spectrum licenses could be worth as much as $35 billion. The stock only trades at a roughly $7.2 billion market cap. There's also big upside if EchoStar ends up succeeding in building its wireless network. However, investors should keep in mind that regulatory battles like this are often unpredictable. This is a risky bet, so I wouldn't make it a core position. But if you want to take a chance, make sure you only invest what you can afford to lose. Before you buy stock in EchoStar, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and EchoStar 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 $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why EchoStar Has Blasted 48% Higher This Week was originally published by The Motley Fool 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

1 ticket wins $12.3 million Toto jackpot draw
1 ticket wins $12.3 million Toto jackpot draw

Yahoo

time19 minutes ago

  • Yahoo

1 ticket wins $12.3 million Toto jackpot draw

SINGAPORE - A single ticket has won the $12.3 million Toto jackpot on June 19 after the past three draws saw no winners. The winning numbers were 1, 10, 37, 40, 45, 47. The additional number was 19. The winning ticket was bought at the NTUC FairPrice at Yew Tee Point under the QuickPick System 7 Entry. It is not known if the ticket belonged to an individual or was shared among several people. Meanwhile, 13 tickets won the Category 2 prize, which had a share amount of $108,637. Earlier, the Singapore Pools' website showed that the prize money for the Group 1 category had snowballed from almost $1.3 million on June 9 to $2.9 million on June 12. The last draw on June 16, which had a prize money of $5.6 million, had again yielded no winner. The Group 1 prize amount will snowball only up to the fourth draw. Thereafter, the amount will be shared among the winners in Group 2. The last Toto draw that had a prize sum of over $10 million was on April 28, with two winning tickets sharing $12.9 million. In 2024, a single ticket won $13.1 million. The record was set on May 9 that year. The latest draw results are available on the Singapore Pools website. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store