US Container Volumes Set for Sharp Reversal on Tariff Disruption
Inbound container volume fell 7.9% in June from a year before, after a 6.6% drop in May, veteran industry analyst John McCown wrote in a monthly report Sunday based on the 10 largest US ports. The declines more than wiped out a nearly 10% increase tied to inventory front-loading in April, and left the second quarter down 1.8% from a year earlier.
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Yahoo
12 minutes ago
- Yahoo
Exclusive-Lula plans new 'national sovereignty' policy for strategic minerals
By Brad Haynes and Lisandra Paraguassu BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva told Reuters on Wednesday of his plans for a new national policy treating strategic minerals as a matter of "national sovereignty" in order to avoid exporting minerals without adding value locally. "We won't allow what happened in the last century to happen again, where Brazil exports raw minerals and then buys products with very high added value," the president, known as Lula, said in the interview. "We want to add value in Brazil." Lula's comments came as a new 50% tariff hit U.S. imports from Brazil amid a political spat between the two countries linked to an investigation against the South American country's former president, Jair Bolsonaro. Bolsonaro, under house arrest since late Monday, is standing trial on charges of plotting a coup to overturn his 2022 electoral defeat. Bolsonaro has denied wrongdoing. U.S. President Donald Trump, seen as a Bolsonaro ally, has decried what he calls persecution of Brazil's former leader. Trump has long sought to secure U.S. supplies of critical minerals, complaining of China's near-total control of the industry and striking deals with Ukraine to secure critical minerals in exchange for defense help. Currently, Brazil lacks a complete mapping of its mineral wealth, Lula said, adding that his government would start this process by setting up the national council on mineral materials and standards. The council will safeguard Brazil's control of its mineral wealth, allowing the country to become a global leader in the energy transition, Lula said, adding that businesses will not face difficulties following the council's creation. "Few countries in the world have the opportunity that Brazil has in this area," Lula said. Sign in to access your portfolio
Yahoo
12 minutes ago
- Yahoo
Why personal finance isn't so personal
In this eye-opening anniversary episode of Living Not So Fabulously, hosts John and David Auten-Schneider explore why so many Americans, especially in the LGBTQ+ community, are financially unprepared, how personal money stories shape financial behavior, and which real solutions exist. From stories on failed 401(k)s to hidden discrimination in housing and banking, this episode gives practical advice and the financial wake-up call you didn't know you needed. For full episodes of Living Not So Fabulously, listen on your favorite podcast platform or watch on our website. Yahoo Finance's Living Not So Fabulously is produced by Dennis Golin. Welcome to Li fabulously, where we serve candid cash combos with a side of sass and zero late fees. So we are just about ready to celebrate the one year anniversary of Living not so Fabulously. And in that year, we've received a fair number of questions. If you have a question, email us at YF podcasts@yahoo or if you're watching on YouTube or on Yahoo drop a comment in the comment section or drop a David, we're getting old. Speak for do you meanby that? Well, we're, uh, well, we're entering early retirement ourselves, but, um, we're at one year mark, and that's pretty old for a show. It is, yeah, some shows don't make it past the first couple of episodes, 3 episode because the average, right? Yeah, we're beating the average for sure, which brings us to our first question. I'm at 55, 65 years old, somewhere in I have little to nothing saved for retirement. What do I do? Um, we actually get this question quite a bit. We've gotten it even before we started working with Yahoo Finance, we, we get this question from our community, and I think it just kind of pinpoints where we are in the retirement crisis. I mean, we all know that we're in a retirement crisis right now andWe had Teresa Ghilarducci on our Queer Money podcast, uh, last year that we, when we interviewed her, she said, so it's sort of the 401k experiment, sort of a failed experiment, and it's not serving Americans. And here are some recent statistics to share. According to TransAmerica in 2023, when they surveyed baby boomers, the average median savings for retirement for baby boomers was $194,000. And when you consider the average cost in a nursing home without any special services for Alzheimer's or dementia is about 10, 194 is not going very far. Yeah, and I think it was Fidelity that even said that the average couple in retirement will spend $168,000 just on healthcare, not on those extended living situations or nursing homes, places like that, just on healthcare. So if the median savings is only $194,000 that means that 50% of people have less than that and 50% have more. All those have less than that, yeah, they bring down, right? Exactly. And according to Transamerica, 10% of the people that they surveyed or studied had nothing saved for retirement, these are baby boomers, like they're already technically in at the retirement age, right? So they don't typically have a lot of options available to them, although we'll talk about maybe some solutions here in a bit, right? And I hope for those people and for those who have a little bit more, but not much more saved, that they're tapping into some sort of from somewhere, although hopefully they don't have a golden girl moment and have the have the letter that arrives that says the pension has gone bankrupt, right? Then recently there was a 2024 PRIP study um by Alliance for Lifetime Income. They found that 51% of women between the ages of 61 and 65 had less than $100,000 in investible assets. Now that's investible assets that they have for themselves. Among single, divorced or witted women, that rises to 67%.This is just one example of how a minority group, um, a different demographic, uh, is struggling more so than maybe the general population. Yeah. So if you're just tuning in, this is living not so fabulously where we mix real talk with flair. Uh, we're taking listener and viewer questions today. If you're watching on YouTube or on Yahoo drop a question that you may have for us in the comments section episodes. John, let's talk about this. We, we know the data out there. We know that there's, there's a crisis happening when it comes to retirement, and more and more people are coming to us saying that they are worried about what they do they do in retirement. Let's maybe talk about what's causing this and what some of the solutions are, because maybe some of the solutions are actually in discovering what the causes are. Yeah. Well Ithink the first thing to do isStop beating yourself up over the fact that you might not necessarily be where you want to be at this particular age with retirement savings. I mean, I think it's really hard to send people to careers to become HVAC experts and plumbers and uh graphic designers and architects and all this stuff, and to become expert at their craft or the service that they provide their local communities and then to also at night learn how to at investing in the stock market and trading crypto and and ETFs and all sorts of stuff. I I I think it's asking a lot of people to do that, especially if they don't have a passion for that topic. It's different if you have a desire for that, but if you don't have a desire or interest in that, know, it's gonna be really hard. And I think when you add on to the psychological effect of what's called hyperbolic discounting, uh, where we put off what we know we should do today for tomorrow because we're more concerned about with what's happening today than we are about tomorrow. If tomorrow is 2040, 60 years in the just not that concerned about it. No, you'renot. Yeah, you, you think how many seven year olds are thinking about retirement, let alone 27 year olds, we don't think about it when we really should be thinking about it. We're not trained to. There is very little conversation with us as young adults, as early adults, uh, as kids should be planning for retirement. And for that reason, I think it's so easy for us to get lost in all of the scrolling or the other things that go on in life, and then say I'll I'll deal with it later. And so it's very common for people to not really be thinking about this until, and you know, it was interesting, uh, we had umUh, Shamina Singh on the podcast several weeks ago, and she mentioned this idea that most people learn something when it comes to finances when they actually need it. Well, this is one where you really should be learning about it long before you need it, cause you need to take advantage of compounding interest. Exactly. And then I'll add to the fact that we are in a consumer culture. We have a consumer economy where condition and almostTold by our presidents to spend, spend, spend, prove that the economy is strong by spending, spending, spending, right? That's, that's the indication, you know, we're always talking about the consumer is, is propping up the economy. Well, the consumer is propping up the economy on credit card debt, on crutches, and it has no retirement savings. And the only solution that our government is coming up with is, how can we make people work longer and how can we take away any benefits that they've already put into the system. So let's talk about the solutions. I think that the whole idea of and consumerism may lead to some of the solution, and that is we need to talk about this more, not just ourselves with our family members, but just in the general population. We need to talk about this so that it reaches young people when they're able to do this. And maybe we need to encourage more people to segment out that consumer culture, consumerism culture and set aside some of that for retirement. Yeah, I, I would say over and over and over again, I think the best prepare people for long term financial security is for more people to talk about their financial situations, what's working, what's not working. Um, make sure you're sharing what you learn, making sure you share the mistakes that you made, um, that right there, that's the nucleus of building generational wealth. And unfortunately, but there's this popular notion that talking about money is rude, and we shouldn't be talking about how much money we have. Um, it's, it's impolite, whatever, um, that, that strategy is failing people. But I think on top of that, I mean,Unfortunately, in this economy, we have to get a little bit creative with how we prepare for retirement. We can no longer retire, I rely on W-2 income because as we all know, real income is not keeping up with the cost of inflation. I mean, CEOOs are doing great, but everybody else is struggling. So unfortunately, um, we need to figure out how can we create multiple streams of income, in addition to uh maybe your W-2, how can you figure out maybe just to create a small business of your own that you can generate additional income and then maybe it'sSome point in the future sell, how can you tap into maybe real estate investing, even if that real estate investing is uh renting out a room in your, your house or your apartment to someone else, or renting out space in your garage, your attic or your basement for storage for other people to be able to store other things at your place for afee, right? I think the whole idea here is somehow, you know, if you're between 55 and 65 and you're looking at retirement being anywhere from 2 to maybe 5 or 8 years have to figure out how to create a gap between what you spend and what you earn, um, and there's multiple ways to do that. Focus more on how to generate more money than necessarily cutting back, although I'm sure all of us could cut back a little bit, but the, the larger that gap is, the more money you're going to be able to invest. And, and some people may say, well, I'm 55, I'm 60 years old, will I even get any benefit out of investing? Well, the reality is, is that if you're 55 or 60 years old today, you're likely to live to your 70s, maybe even early 80s. So some of you are looking at having a time horizon of 15 to 20 years to invest. So if you're able to put away $5000 for the next 3 to 5 years or 8 years, that money, if invested, will grow to the point where you are going to be able to supplement the whatever other income streams you have, especially if that only other income stream is Social Security, right? And then there are other potentialSolutions to look at, right? You can look at getting a life insurance, uh, with particular riders, you could look at getting an annuity. Um, I know that uh reverse mortgages is some sort of a controversial topic, but that may be, I think they've evolved over time, so that may be a solution for some people to figure out how can I just create multiple sources of income, manage my expenses as much as I can, keep them as low as possible, especially if, to your point, I am 55 or or or or 60, um, and don't have a whole lot saved for retirement, havingThat sort of combination is sort of what we need to sort of lean into, I think, because unfortunately, the government isn't necessarily coming up with great solutions and we can no longer retire on our employer. But if we are younger, this hopefully uses as a sort of a clarion call to say, how can I start investing for retirement as soon as possible before my my lifestyle inflates too much, right?Before I, I, I, it becomes too hard to reduce the number of subscriptions that I'm currently addicted to, um, how can I put more of that money into the stock market? Because, um, now David and I have been saying this for, for years. There's no part of the economy that's designed for success quite like the stock market. And I haven't had the chance to read. There's an article out there right now where economists are saying, to everything that Trump is doing and all these tariffs and this this chaos has been caused, why is the stock market up? Nobody knows. And I think it's because there are so many rich and powerful people who need the stock market to continue to increase that the sooner you can catch that train, the better it is for your long term financial security. So please wait on for one moment, we'll be right back after this quick back to Living Not So Fabulously. We're back taking your listener and viewer questions. Again, if you're watching on YouTube or Yahoo drop a question in the comments and maybe we'll use that for a future episode, or you can always email us at YF podcast@ So we're gonna take our second listener question and our second listener question is one that has been kind of an amalgamation of not only people asking this question, but maybe some of the trolling that we get, um, especially on trolling on, on the YouTube comments. Uh, we're going to talk about how money is different for LGBT people than everyone else. And, uh, the reality is what we're going to talk about here is not just that it's different for LGBT people. Money is different for every single person. Every single one of us looks at money differently. One of the comments that we get is that money is money. Credit cards are credit cards. Investing is investing. It's all the same for the way that we look at it is it breaks down very similar to the Pareto principle. 80% of personal finance is the financial side, the transactional side, where you're right, swiping a credit card for you and me is exactly the same. Investing in Google is exactly the same for you and me. That transactional stuff, that is the same. The 20% is the personal finance. And I'm gonna quote Morgan Hall here from his book The Psychology of Money. He says, your personal experiences with money make up about 100 millionth of what's really happened in the world, but maybe 80% of how you think the world works. So what he's really saying here is that our personal experience with money is so tiny, it'sSuch a tiny fraction of what really happens in the world when it comes to money. But our perception is what we then blast out as 80% of reality. You don't see the world how it is, you see the world how you are, and we're each individual with different life experiences, different races, creed, backgrounds, socioeconomic status, histories, um, and that's why even twins, right, twins can in completely different perspectives and success with their finances, right? Yeah, exactly. That's why you have one twin that may be very successful, and one that may be not so successful. It's because they interact with their surroundings and their money. They've had different experience because of the experiences they've had in So here we're gonna share some experiences that show how money shapes the way LGBT people maybe work with or deal with money or have the perspective or money story, that's what this show is about, money stories, how our money stories may be different. So for example, LGBTQ youth make up 40% of the homeless youth there is a larger number or percentage of homeless youth that identify as LGBT. Why is that? Well, because many of them have either left home or have been kicked out of home because they're not accepted or welcomed there, right? So how does that shape your perspective of how you work with or deal with money? Well, if you're leaving home when you're an adolescent, you are not getting the kind ofEducation, you're not having that kind of discussions with mom and dad. You're not seeing your parents interact with money. And you also may be put into the world in a very desperate or scarcity mindset because you don't have anything. And so the way that you look at money is always that there's never enough of it, right? You develop this money story of, I'm alwaysSearching and trying to find money. And so it's difficult. And so you develop this idea in your head, money is difficult. And that really frames how many young LGBT people think about money moving forward in their lives. And Ialso think too that if you're homeless and living on the street and you're seeing other people going about their daily lives and they they look like they're flourishing.I can see how you would have maybe a negative perspective um on people who are financially secure, right? Those people are they're they're not giving me a handout, they're not helping me out. Um, I, I'm not being treated well by society, so you have this sort of negative perspective of people who are wealthy. So not only do you feel like that getting money is hard, and then if you think that getting money is hard, it's, uh, you know, as Ford said, it's gonna be hard. IfYou see people who have money, then you sort of see them as as as um evil in in a way, then you don't definitely don't want to be those people. But regardless of whether or not you've had a good experience with money or not, we're all gonna be at some 0.65 or 75 years old, but we can all for the most part expect to live to be older age, and if we haven't had the healthy perspective of money, we're not likely to have a healthy uh retirement account or a healthy relationship with how we use let's talk about something that is apples to apples, the same for everybody. That's getting a mortgage, right? Getting a mortgage is something that everyone should be able to do and do it equally, right?We actually have laws to to protect us so that we all have equal opportunity when it comes to getting a mortgage. Well, a 20 year study that was done found that same-sex couples were 73% more likely to be denied a mortgage, even though their credit scores and incomes and debt to income ratios were the same as opposite sex couples. And we know we have historical data and reference points that show what has happened to individuals who have been how they were not able to participate in the growth of what was going on in their communities financially, right? There were certain areas of town where they said, we're not going to invest in that neighborhood, we're only going to put these kinds of people in that neighborhood, and we're not gonna go in there, we're going to stay away from that, so it areas depressed. Well, the same thing is happening to folks in in the LGBT community. Historically, 33% of LGBTQ individuals own their home versus 66% of the general population, and much of that has to do with the fact that many of us were denied mortgages or maybe giveGiven unfavorable information about getting a mortgage so that we didn't get one, right? So we talked about earlier how the stock market is one of the great wealth builders in America. Well, obviously we all know, the other great wealth builder in America is real estate, and for a lot of people, a lot of Americans today, most of their financial security is tied up in their the the home in which they if, would you say, what percentage of the LGBT population own their own home? Roughly 33%. That's that's from a prudential study that was done, I think in 2018. So many people in our community are being left out of that great wealth order. Yeah, other data that we have, John and I did a uh an LGBTQ plus money study with the Motley Fool back in 2022 and 2023. That showed some very interesting information when it came to how queer people use money. Yeah, in the 2023 survey, 55% of respondents said that they've been discriminated against by somebody in the financial services, banking, insurance that that's could be real or perceived, of course, and 49% of those those people said that that had an adverse effect on their long-term financial security. So overall, by and large, for a lot of LGBTQ plus folks to put this into perspective that maybe many of us can relate, going into a bank and asking to open up an account or to get a loan is a lot like going into the gym class locker room. Yeah, it brings back a lot of negative effects. As a matter of fact, we have a friend of ours whoStarted a business, wanted to get financing from a local bank for that business, walked in and literally was told, we do not lend to people who look like you. And that'sWithin the last 5 years. This is not something that happened 25, 35 years ago. So these, these kinds of things prevent individuals in the community from having a positive outlook on not only the money economy, but also individuals within the money economy and they want to separate themselves from it. Sowe all know that small business, starting a business, entrepreneurship is the other great wealth builder in America that many people are being excluded from because we're just not all playing on the same playing field, they're different playing fields and some are slightly inclined, some are steeply inclined, and some are for those who benefit are completely fat. But, but I think a great example is the, uh, wedding analogy that we oftentime use, right? The average cost of a wedding these days is, is, I think it's actually over, but it's about $25,000. Well, now it's, it's $35,000. When I originally did this data, we were talking about $25,000 being the uh the cost of a wedding. So let's just say that there's two different, different couples who are going to get married. You have a same-sex couple and you have an opposite sex couple, and both of them plan on spending about $25,000 on their wedding. The opposite sex couple gets help from mom and dad. The same-sex couple, like John and I get zero help from our family, but we decide to fund that wedding ourselves. Well, the opposite sex couple, let's just say that they take that $25,000 that they didn't have to spend and they put that into their and the same-sex couple doesn't have that opportunity. What's the difference 30 years later when they're both able to retire? Well, depending on the rate of return, that $25,000 will grow to anywhere between 350 and $665,000. That's the retirement question that we were being asked of earlier. I'm 55 to 60 years old. I don't have enough money to retire. That's why we get that question a lot in our community. And that's just one example. I mean, obviously know that um Speaker of the House Johnson, uh I mean Supreme Court Justices Alito and Thomas are now threatening to, to, to remove a marriage equality, and there are like 1000 plus tax laws, benefits that come with marriage, that if marriage equality is overturned, then same-sex couples are going to be left out of that as well, which makes it just that much harder, um, and for opposite sex ability or the right to marry isn't up for debate every 4 or so years, yeah, what are the takeaway? Well, my takeaway from this particular episode is we may not have convinced you, and that's fine. Everything isn't for everybody. We're serving a particular and underserved niche, money stories and conversations relevant to our community, or relevant to them. All are welcome, but attendance is not required. Yeah, and with that in mind, Yahoo Finance is serving up a multitude of flavors of personal finance for folks of all demographics. If you're looking for personal finance from a black or personal, a person of color perspective, catchan freestyle with our friend Ross Mack. If you want to have deeper conversations around retirement, check out Decoding Retirement with the great Bob Powell. If you love small would like that to have a woman's twist on it from time to time. Watch or listen to the wonderful Elizabeth Gore show, The Big Idea. What's the easiest way to do all of that? Scan the QR code to follow Yahoo Finance podcast for more videos and expert insight, because when you do, you'll find the money conversations customized to help you build financial security. And until next time, stay fabulous. This content was not intended to be financial advice and should not be used as a substitute for professional financial services. Related Videos AI Startup ElevenLabs Launches Music Service Sign in to access your portfolio
Bloomberg
14 minutes ago
- Bloomberg
Trump, Apple to Announce Fresh $100 Billion US Investment
President Donald Trump plans to announce that Apple Inc. will commit to spending another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones. The announcement at the White House on Wednesday includes a new manufacturing program designed to bring more of Apple's supply chain to the US, with an eye toward assembling additional critical components domestically, according to a White House official who detailed the announcement on the condition of anonymity. Apple Chief Executive Officer Tim Cook is expected to attend the event. Bloomberg's Managing Editor for Global Consumer Tech Mark Gurman reports. (Source: Bloomberg)
