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Vietnam Airlines announces joint venture with China Southern Airlines

Vietnam Airlines announces joint venture with China Southern Airlines

Reuters17 hours ago

HANOI, June 6 (Reuters) - Vietnam Airlines said on Friday it has formed a joint venture with China Southern Airlines, the first such aviation partnership between the two countries.
The joint venture has received regulatory approvals and is set to become operational from August, Vietnam Airlines said in a statement.

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Report: Trump plans to save TikTok for a third time
Report: Trump plans to save TikTok for a third time

Daily Mail​

timean hour ago

  • Daily Mail​

Report: Trump plans to save TikTok for a third time

Published: | Updated: President Donald Trump plans to save Tiktok from going dark for a third time. Ahead of a June 19 deadline, the president is expected to sign an executive order staving off enforcement of a law banning the app or forcing its sale, the Wall Street Journal reported. This would be the third extension since Trump took office on January 20th. The extension comes as Trump officials head to London for a Monday meeting with Chinese officials on a trade deal. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and United States Trade Representative Jamieson Greer will be meeting at the meeting. 'The meeting should go very well. Thank you for your attention to this matter!,' Trump wrote on his Truth Social account. He and Chinese President Xi Jinping spoke on the phone Thursday as both sides try to repair a breakdown in trade negotiations. Earlier this year, the administration had been working on a deal for American investors to take ownership of the popular video app but that deal fell victim to Trump's trade war with China . So, on April 4th, Trump signed an executive order granting a 75-day extension allowing TikTok to operate in the U.S. 'My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress. The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days,' he announced on Truth Social at the time. Several American companies have expressed interest in having a stake in Tiktok, including Amazon, Wal-Mart, and Oracle. TikTok is one of the most powerful media sources in America today. It has 135.79 million users in America, making it the country with the biggest audience on the map. It also has grown to be one of the largest online shopping marketplaces with millions of dollars in daily sales. Congress passed the TikTok ban in 2024 with overwhelming bipartisan support demanding China lose its control of the popular video service. Lawmakers had national security concerns that an app used by so many Americans was controlled by China and feared the Chinese company that owns, ByteDance, could use it as a way to collect information on Americans. TikTok fought the ban all the way to the Supreme Court, calling it a violation of free speech rights, but the court upheld the law in early 2025. ByteDance didn't agree to terms with any US-based companies and went dark for a few hours on January 19th, the day before President Trump's inauguration. But Trump has fought to keep the social media site operational in the US. After his inauguration, he signed a delay in implementing the ban, then extended it again in April and is preparing for the third extension. Trump sees the app as a way to reach younger voter. He has indicated he'd like to come to a deal. 'We'll probably have to get China's approval. China's never easy,' he said last week. 'I'd like to save TikTok. I mean, TikTok was very good to me.'

Lululemon sees stock plunge 20% as brand says it will raise prices
Lululemon sees stock plunge 20% as brand says it will raise prices

Daily Mail​

time2 hours ago

  • Daily Mail​

Lululemon sees stock plunge 20% as brand says it will raise prices

Lululemon's shares plunged 20 percent on Friday as the athleisure brand reels from the consequences of Trump's tariffs — and said it would up prices on some of its products. The brand — which has earnt a cult following among millennial and Gen Z exercise enthusiasts — beat Wall Street's expectations for its first quarter earnings, but cut its guidance for the rest of the year. Sales were only up 1 percent year over year, compared to the 3 percent predicted by analysts. The company said the 'dynamic macroenvironment' of tariffs and concerns about an economic downturn meant it has to readjust. This will involve 'strategic price increases' to offset the negative effects of tariffs, chief financial officer Meghan Frank told analysts on the first quarter earnings call. 'It will be price increases on a small portion of our assortments, and they will be modest in nature,' she said. The company has already faced criticism for the price of some of its items , including $128 yoga pants. The price hikes will begin within a matter of weeks, Frank added. CEO Calvin McDonald said he was 'not happy' about US growth figures and acknowledged that consumers are nervously pulling back their spending. Lululemon has been hit hard by Trump's trade policies as it sources from China, currently under a 30 percent tariff, and a range of other countries currently levied at 10 percent. Last year 40 percent of the company's products were manufactured in Vietnam, 17 percent in Cambodia and 11 percent in Sri Lanka and Indonesia respectively. Lululemon rival Gap said last week that it expects tariffs to cost its business $100 million to $150 million a year. Nike said it would also be raising prices on a wide range of products. It is not just clothing brands that have reacted to tariffs by hiking prices. Walmart revealed that it would be passing on some of the cost of tariffs to its shoppers . The grocery giant — which imports 60 percent of its goods from China — said the worst increases are still yet to come. 'The industry already has an affordability problem.' Toyota expects to pay $1.3 billion in tariff costs in April and May alone — and it's already forecasting a 20 percent drop in profits for the upcoming year.

Gol exits Chapter 11 with plans to add new routes and expand fleet
Gol exits Chapter 11 with plans to add new routes and expand fleet

Reuters

time2 hours ago

  • Reuters

Gol exits Chapter 11 with plans to add new routes and expand fleet

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