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a minute ago
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Trump aides create loyalty list ranking corporations by support
(Bloomberg) — President Donald Trump's aides have created a scorecard ranking hundreds of companies based on their efforts to support his signature tax cut law, a White House official said Friday. The US-Canadian Road Safety Gap Is Getting Wider Festivals and Parades Are Canceled Amid US Immigration Anxiety To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The list ranks 553 different businesses as either 'strong, moderate, or low' partners on the megabill, which extended and expanded tax cuts from the president's first term and provided billions of dollars in additional funding for immigration enforcement. It's not clear how the scores will affect the way the federal government deals with the firms, but the official, speaking on the condition of anonymity, suggested that companies' rankings could change based on present and future support for presidential initiatives. Trump has made unusual, high-profile interventions in the business world since returning to the White House in ways that critics have said run counter to the Republican Party's traditional commitment to free-market capitalism. The president has defended himself as a pro-business leader. Recently, the Trump administration has considered taking an equity stake in Intel Corp. (INTC) and got Nvidia Corp (NVDA). and Advanced Micro Devices Inc. (AMD) to pay the government 15% of revenues from chip sales to China. The creation of the list comes as Trump has struggled to sell the public on the benefits of the legislation. Just 32% of Americans say they approve of the tax and spending bill versus 46% who disapprove, according to a Pew Research poll released this week. The president's job approval sat at just 38% in the same survey. But the administration is ratcheting up efforts to sell the benefits of the legislation, with Trump on Thursday holding an event at the White House to tout a new $6,000 deduction for seniors on Social Security benefits. Cabinet officials have scheduled events across the country in support of the legislation. Companies favorably ranked by the White House included DoorDash Inc. (DASH) and Uber Technologies Inc. (UBER), according to Axios, which first reported the existence of the list. The rideshare companies have touted a provision that allows some taxpayers to deduct as much as $25,000 in reported cash tips from their income taxes. Airlines including United Airlines Inc. (UAL) and Delta Air Lines Inc. (DAL) were credited for their efforts supporting the bill's $12.5 billion allocation for new air traffic control infrastructure. Americans Are Getting Priced Out of Homeownership at Record Rates What Declining Cardboard Box Sales Tell Us About the US Economy Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Dubai's Housing Boom Is Stoking Fears of Another Crash Twitter's Ex-CEO Is Moving Past His Elon Musk Drama and Starting an AI Company ©2025 Bloomberg L.P.
Yahoo
33 minutes ago
- Yahoo
Lindt mulls making Swiss chocolate in US to swerve Trump tariffs
Swiss chocolate maker Lindt & Sprüngli is considering making its popular Easter bunnies in the US in an attempt to limit the damage of Donald Trump's trade war. The chocolatier – based in Kilchberg near Lake Zurich – is exploring plans to spend as much as $10m (£7.4m) on making its chocolate figurines in the US, in a move that would avert tariffs imposed on European imports. The chocolates are all currently made by Lindt in Germany, meaning shipments to the US are subject to a 15pc tariff following a EU-US trade deal signed last month. Lindt owns a manufacturing plant in New Hampshire that is already under expansion. The US is a critical market for Lindt, worth almost $850m in annual sales according to company filings. The possible shift comes as the company is already grappling with the soaring cost of cocoa, which has pushed up the price of its goods for customers. The prospect of Lindt manufacturing more chocolate in the US, first reported by Bloomberg, may prove controversial because of the perception that American-made chocolate is worse than products made in Britain and Europe. A Lindt & Sprüngli spokesman said: 'We are continuously working to make our production and internal supply chains more efficient, taking into account the current situation around tariffs. 'This includes reviewing which products are manufactured at which production sites and for which markets.' Lindt is also looking at manufacturing chocolate for the Canadian market in Europe instead of Boston in the hopes of avoiding Canadian tariffs imposed on the US, Bloomberg added. Founded in 1899 following a merger between Swiss chocolatiers Chocolat Sprüngli and Rodolphe Lindt, Lindt is today one of Europe's best-known chocolate brands. It posted annual sales of 5.5bn Swiss francs (£5bn) in 2024. It already manufactures its chocolates in many countries across the world – although some of its products, including its Lindor chocolate bars, are only made in Switzerland. Much of its dark chocolate comes from France, while its nutty chocolate bars are made largely in Italy. The latest revelations demonstrate the extent to which Mr Trump's trade war has rocked European companies. Lindt's home country of Switzerland has been hit with a particularly high tariff of 39pc owing to its high trade deficit with the US. This has already hammered key Swiss export industries, such as its lucrative luxury watch trade. The US represents about 17pc of Switzerland's total watch exports by value, according to the Federation of the Swiss Watch Industry. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Yahoo
33 minutes ago
- Yahoo
The Highest-Upside Cryptocurrency to Buy With $1,000
Key Points XRP currently trades for about $3, after soaring in value by more than 400% since the U.S. election. XRP has a 65% chance of hitting $4 this year, and a 29% chance of hitting $5. Even at $3, XRP may be wildly overvalued, according to one key metric. 10 stocks we like better than XRP › If you are looking for a high-upside cryptocurrency, look no further than XRP (CRYPTO: XRP). Currently trading for just $3.08 (as of Aug. 14), XRP is up more than 400% since November. The positive growth catalysts for XRP just keep on coming. All this makes XRP the highest-upside cryptocurrency you can buy with $1,000. Let's take a closer look. Price targets for XRP One way to see just how much higher XRP might go this year is by looking at online prediction markets, where people are making daily trades based on where they think the prices of cryptocurrencies such as XRP might be headed. Right now, online prediction markets are giving XRP a 65% chance of hitting $4 this year, and a 29% chance of hitting $5. Considering that XRP hit a 52-week high of $3.65 earlier this summer, both of these price targets appear to be within reach. Moreover, in April, Standard Chartered predicted that XRP might soar as high as $5.50 this year, based on strong underlying fundamentals and a number of emerging growth catalysts. So, based on XRP's current price of a bit more than $3, there is a reasonably good chance that it might increase in value by as much as 80% this year. Aside from perhaps Bitcoin (CRYPTO: BTC), it's hard to think of a higher-upside cryptocurrency for 2025. Potential growth catalysts The good news for crypto investors is that XRP has a number of potential growth catalysts in play. Being able to deliver on just one of them might be enough to push XRP higher. According to Bloomberg, XRP now has a 95% chance of getting new spot exchange-traded funds (ETFs) approved by the Securities and Exchange Commission this year. These spot ETFs would make it much easier for institutional investors to get exposure to XRP. By some estimates, this could result in $8 billion in new money flowing into XRP. That would almost certainly help to push up the price of XRP. Moreover, the SEC recently wrapped up its long-running case against Ripple, the company behind the XRP token. This case, which dates back to December 2020, alleged that XRP was a security, and that the sale of XRP represented a sale of unregistered securities. With this legal battle in the rear view mirror, Ripple is able to go back to business in the U.S. market, and that likely means new growth for the XRP blockchain ecosystem. Ripple has already explored a number of alternatives to boost the value of XRP. These include the launch of a stablecoin in December 2024, and the embrace of new real world asset (RWA) tokenization initiatives. According to top consulting firms, RWA tokenization is a potential multi-trillion-dollar market opportunity. So if XRP gains even a tiny market share of this market, there is even more potential for XRP to soar. But is XRP overvalued? Just keep in mind: There has always been an enormous amount of buzz, hype, and speculation surrounding XRP, and it has rarely played out as expected. In more than a decade, XRP has never traded higher than $3.84. Its reputation as a high-upside cryptocurrency dates back to 2018, when there were significantly fewer cryptocurrencies to choose from. Until recently, XRP has fizzled, primarily due to all the regulatory uncertainty surrounding its SEC litigation. Moreover, an often-used market signal is flashing red right now. If you compare the total market cap of XRP ($190 billion) to the amount of total value locked (TVL) on the XRP blockchain ($88 million), there is a serious mismatch. This multiple for XRP is 2,159. By way of comparison, the multiple for Ethereum (CRYPTO: ETH) is just 5.7, and the multiple for Solana (CRYPTO: SOL) is 9.6. If anything, this shows that XRP has been hyped up to incredible levels, with little real activity actually taking place on the blockchain to support such a high valuation. A key date on the calendar An important moment for XRP is coming soon. The SEC is scheduled to rule on the new spot XRP ETFs by mid-October, and some analysts think a decision might come as soon as September. Wrapping up the SEC case in August was absolutely critical in that regard. Until all the legal and regulatory matters were resolved, the SEC was unlikely to approve new ETFs. An investment in XRP is hardly without risk. But with high risk also comes high upside reward. If you have $1,000, and are looking for a high-upside cryptocurrency with the potential to double in value within an incredibly short period of time, XRP is an enticing option. Do the experts think XRP is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did XRP make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,062% vs. just 185% for the S&P — that is beating the market by 877.34%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $649,544!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,113,059!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Dominic Basulto has positions in Bitcoin, Ethereum, Solana, and XRP. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Solana, and XRP. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy. The Highest-Upside Cryptocurrency to Buy With $1,000 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
