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Forbes
an hour ago
- Forbes
Swiss Shock - Can Switzerland Reverse The 39% Tariff?
The imposition of a 39% tariff on Swiss exports to the US has been greeted with shock, despair and much ire in Switzerland – the main newspaper NZZ greeting the move as 'absurd'. Considerable offense was taken by the fact that the announcement came on the Swiss National holiday (August 1st). Equally, local business leaders and economists have been perplexed by the fact that the tariffs have been calculated on the back of a trade deficit that was skewed by the export of gold – the deficit is now a surplus. Equally, many of the goods that Switzerland exports to the US, do not have competitors there (Swiss chocolate, watches and more importantly specialized industrial goods which are used by the likes of Boeing). Neither is the Swiss franc a weak currency. There is also a feeling in Switzerland that its role on the international stage, and facilitator of American diplomacy (the Swiss embassy in Tehran has traditionally acted 'for' the US), has gone un-noticed. Swiss politics is normally a very staid affair but this episode has led to infighting across the spectrum, and considerable blame has been focused on the President of the government Council, Karin Keller-Sutter. As a result, the Swiss negotiating team that will return to Washington this week will have representation from the conservative SVP, and more officials from the trade and finance divisions. The Swiss case highlights the flaws in the methodology of the White House approach. While its economy is extremely resilient, the Swiss will not be able to suffer a 39% tariff lightly. Our sense is that the counterargument will centre around a re-framing of the trade relationship between the two countries, a re-evaluation of how Swiss industry in particular helps US firms, and an undertaking for Swiss industry to invest in the US. The hope here is that Switzerland ends up with an EU style deal, of tariffs of 15%, and a somewhat empty promise to invest 'billions' into the US. From a diplomatic point of view, given that the Swiss had traditionally been so helpful to US interests, this is an own-goal by the White House. At the time of writing, there is no indication at all as to whether this episode pushes Switzerland closer to the EU (in terms of trade – there is no question of Switzerland joining the EU). For its part, the EU is still trying to get the White House to agree the wording of deal reached in Scotland – there is ongoing lobbying from the spirits industry in Europe, not to mention the auto manufacturers. The deal is not yet watertight and needs to be implemented by individual members. There is still uncertainty over the threats to place specific tariffs on semiconductors and pharmaceuticals firms based in Europe next week (Ireland in particular) and the USD 600bn that is supposed to be invested by European firms in the US. If sector specific tariffs are severe the backlash to the deal could grow and there is rising chance that it could fall apart.
Business Wire
4 hours ago
- Business Wire
MOGU Files Annual Report on Form 20-F for Fiscal Year 2025
HANGZHOU, China--(BUSINESS WIRE)--MOGU Inc. (NYSE: MOGU) ('MOGU' or the 'Company'), a KOL-driven online fashion and lifestyle destination in China, announced that it filed its annual report on Form 20-F for the fiscal year ended March 31, 2025, with the U.S. Securities and Exchange Commission ('SEC') on July 31, 2025. The annual report on Form 20-F can be accessed on the Company's investor relations website at as well as the SEC's website at The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company's IR Department at ir@ About MOGU Inc. MOGU Inc. (NYSE: MOGU) is a KOL-driven online fashion and lifestyle destination in China. MOGU provides people with a more accessible and enjoyable shopping experience for everyday fashion, particularly as they increasingly live their lives online. By connecting merchants, KOLs and users together, MOGU's platform serves as a valuable marketing channel for merchants, a powerful incubator for KOLs, and a vibrant and dynamic community for people to discover and share the latest fashion trends with others, where users can enjoy a truly comprehensive online shopping experience. For more information on MOGU, please visit:
Yahoo
12 hours ago
- Yahoo
F&G Annuities & Life Announces Strategic Partnership With New Reinsurer Backed by Blackstone Managed Funds
DES MOINES, Iowa, Aug. 6, 2025 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) (F&G) today announced that F&G has launched a strategic partnership with a new reinsurance vehicle backed by Blackstone managed funds, with approximately $1 billion in anticipated capital commitments. The reinsurer will provide long-term, on demand growth capital to F&G through a forward flow reinsurance agreement on a quota share basis of certain fixed indexed annuity products, effective August 1, 2025. This structure enables F&G to efficiently manage its liabilities, reinsure a portion of its fixed indexed annuity sales and enhance its capital-light model, which remains core to its strategy. The partnership also reflects the strength of F&G's strategic relationship with Blackstone and underscores our shared commitment to delivering innovative, value-enhancing solutions. "We are very excited for this opportunity that recognizes Blackstone as a trusted partner and enables us to fund a portion of our growth with participation from private, long-term capital providers," said Chris Blunt, Chief Executive Officer. "This transaction positions us to further capitalize on growth opportunities that we see in the market and positions us to provide life and annuity solutions to more distribution partners, helping them meet their customer needs. The partnership will also move F&G toward a more fee-based, higher margin and less capital intensive business and is expected to be quite positive in our efforts to expand our return on equity over time." Jefferies served as F&G's financial advisor and Sidley Austin LLP served as F&G's legal counsel in connection with the transaction. About F&G F&G Annuities and Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties, many of which are beyond our control. Some of the forward-looking statements can be identified by the use of terms such as "believes", "expects", "may", "will", "could", "seeks", "intends", "plans", "estimates", "anticipates" or other comparable terms. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: general economic conditions and other factors, including prevailing interest and unemployment rate levels and stock and credit market performance; natural disasters, public health crises, international tensions and conflicts, geopolitical events, terrorist acts, labor strikes, political crisis, accidents and other events; concentration in certain states for distribution of our products; the impact of interest rate fluctuations; equity market volatility or disruption; the impact of credit risk of our counterparties; changes in our assumptions and estimates regarding amortization of our deferred acquisition costs, deferred sales inducements and value of business acquired balances; regulatory changes or actions, including those relating to regulation of financial services affecting (among other things) underwriting of insurance products and regulation of the sale, underwriting and pricing of products and minimum capitalization and statutory reserve requirements for insurance companies, or the ability of our insurance subsidiaries to make cash distributions to us; and other factors discussed in "Risk Factors" and other sections of F&G's Form 10-K and other filings with the Securities and Exchange Commission (SEC). Contact:Lisa Foxworthy-ParkerSVP of Investor & External View original content to download multimedia: SOURCE F&G Annuities & Life, Inc. 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
