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European Stocks Rebound, Swiss Stocks Dip on Shock US Tariffs
(Bloomberg) -- European shares recovered after sliding by the most since April in the previous session, while the Swiss market retreated as traders had their first opportunity to react to a 39% US export tariff. Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole PATH Train Service Suspended After Fire at Jersey City Station NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance The Stoxx Europe 600 Index gained 0.9% by the close, with banks and insurance stocks outperforming the most. Automakers and retailers were among the laggards. Switzerland's benchmark SMI Index fell as much as 1.9% before paring declines to 0.2% as trading resumed following Friday's public holiday. The tariff announced last week is one of the steepest globally, and the Swiss government said Monday it was determined to give the US better trade terms as it seeks an improved deal. 'It remains to be seen what impact the Swiss tariffs will have,' said Daniel Murray, chief executive officer of EFG Asset Management. 'This is partly because there is always the possibility that Switzerland is able to negotiate improved terms.' UK lenders rallied after they won a major reprieve in a pivotal UK car finance case. Close Brothers Group Plc jumped 23% while Lloyds Banking Group Plc climbed 9%. Despite Monday's upbeat session, the Stoxx 600 has kicked off August with questions around the impact of US tariffs. In addition to Switzerland, Trump also announced a slate of duties on countries including Canada, New Zealand and South Africa last week. The pharma sector is also in focus as the US president pushes for lower drug prices. The benchmark index could face further volatility as it navigates historically weak seasonal trends over August and September. For more on equity markets: A Summer Correction Would Hardly Be a Shock: Taking Stock M&A Watch Europe: Vodafone Spain, MasOrange, Prosus, Cuvva US Stock Futures Unchanged You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. --With assistance from Sagarika Jaisinghani and Charles Riley. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P.
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German Finance Chief Plans to Ask Bessent About Quotas for Steel
(Bloomberg) -- German Finance Minister Lars Klingbeil plans to bring up the issue of quotas for European steel when he meets with his US counterpart Scott Bessent. Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole PATH Train Service Resumes After Fire at Jersey City Station NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance 'It's precisely in the steel industry where there are indications that there could be a quota system — exceptions on both sides of the Atlantic,' Klingbeil told reporters in Washington on Monday. 'This would be important for the German steel industry and for many jobs in Germany, and it's one of the topics I will address today.' A US-European trade deal agreed last month will raise duties on most imports from the bloc to 15%. Brussels got a partial waiver on certain industry-specific US tariffs that carry higher rates worldwide – like for automobiles – but not on others like steel and aluminum, where talks on an exemption involving quotas continue. 'I think we were too weak, we cannot be satisfied with the result that was achieved,' said Klingbeil. 'We Europeans must become stronger, focus on the internal market, and ensure that we are force to be reckoned with. Then we can counter the US with greater self-confidence, not against the US, but in dialogue with the US. That has been lacking somewhat in recent weeks.' Still, he added that an agreement does mean that the uncertainties of recent months have been removed, and that there is now planning security for companies on both sides of the Atlantic. Klingbeil, who also is his country's vice chancellor, is in the US on the invitation of Treasury Secretary Bessent, whom he met at the Group of Seven gathering in Banff, Canada, in May. 'I hope that the close relationship between myself and Scott Bessent will help us to clarify issues and gain a better understanding of the situation,' he said. 'This will hopefully lead to sensible solutions that are in the interests of the German economy.' AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Government Steps Up Campaign Against Business School Diversity What Happens to AI Startups When Their Founders Jump Ship for Big Tech ©2025 Bloomberg L.P.
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Salem Media Group Expands Financial Portfolio with Acquisition of Jim Fink's Investment Services
CAMARILLO, Calif., August 04, 2025--(BUSINESS WIRE)--Salem Media Group, Inc. (OTCQX: SALM) today announced the acquisition of Jim Fink's suite of investment advisory products, including Seasonal Stock Alert, Options for Income, Velocity Trader, and Inner Circle. In conjunction with the acquisition, Salem has launched a dedicated online platform for Fink's services at This acquisition strengthens Eagle Financial Publications, Salem's leading financial publishing division, by adding one of the industry's most respected options and trading strategists to its roster. Eagle's portfolio already includes top investment authorities such as Mark Skousen, Bob Carlson, George Gilder, Bryan Perry, Jim Woods, Hugh Grossman, Jon Johnson, David Phillips, Todd Phillips, Richard Durfee, and Melodie Gatz. Eagle also operates major financial and retirement sites, including and "Jim brings a unique depth of expertise in option spreads and seasonal trading strategies that perfectly complements Eagle's existing offerings," said Roger Michalski, Vice President and Publisher of Eagle Financial Publications. "We are excited to welcome Jim and his colleague Derek Myers to our growing team and to offer their proven insights to our subscribers." About Jim Fink Jim Fink is a seasoned investment strategist with an academic pedigree spanning Yale University, Harvard's Kennedy School of Government, Columbia Law School, and the University of Virginia's Darden School of Business. Before launching his advisory services, Jim built a successful career in telecommunications law before transitioning full-time to investment management, serving in roles at a university endowment, a private wealth management firm, and a leading online investment publication. His disciplined approach emphasizes patience, data-driven analysis, and risk-managed strategies designed to help individual investors succeed. About Salem Media Group Salem Media Group is America's premier multimedia company specializing in Christian and conservative content. Through its national broadcast network, digital platforms, and publishing brands, Salem reaches millions of Americans daily with trusted news, analysis, and lifestyle content that shapes the national conversation. Learn more at View source version on Contacts Sara BroadwaterPublicity@ 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
