Stocks to Watch Tuesday: Coca-Cola, GM, AstraZeneca, NXP
↘️ NXP Semiconductors (NXPI): The Dutch semiconductor company guided for sales to drop this quarter, knocking its shares in premarket trading. Other European chip stocks, including ASML (ASML) and STMicroelectronics (STM), also dropped.
↗️ SoftBank (JP: 9984): The Japanese conglomerate and OpenAI have sharply scaled back their near-term plans for the Stargate partnership. The project now aims to build a small data center by the end of this year, The Wall Street Journal reported.
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The Hill
18 minutes ago
- The Hill
Russia sanctions still expected Friday after Putin-Witkoff meeting: US official
A senior U.S. official said sanctions on Russia's key trading partners are still expected to go into effect on Friday, after President Trump's special mission envoy Steve Witkoff's Wednesday meeting with Russian President Vladimir Putin. Trump said Wednesday afternoon that Witkoff and Putin had a 'highly productive' meeting, claiming that 'great progress' was made. The senior official said the talks between Witkoff and Putin in Moscow, their fifth meeting since Trump came back into office, 'went well' and lasted about three hours. ' The Russians are eager to continue engaging with the United States. The secondary sanctions are still expected to be implemented on Friday,' the official said on Wednesday, speaking on condition of anonymity to discuss diplomatic talks. Trump said in mid-July that Russia could face 'severe' tariffs if it did not agree to a ceasefire with Ukraine within the next two months. The president said at the time he would slap a 100 percent 'secondary' tariff on countries that do business with the Kremlin, including buying Russian oil and gas. Trump shortened the deadline to Friday, adding he was unsure if the sanctions would deal a great blow to the Russian economy. 'I don't know that sanctions bother him [Putin]. You know? They know about sanctions. I know better than anybody about sanctions, and tariffs and everything else. I don't know if that has any effect. But we're going to do it,' Trump said on July 31. The president's Wednesday post about the Putin-Witkoff meeting did not mention sanctions or tariffs. 'Afterwards, I updated some of our European Allies. Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come,' the president wrote Wednesday. The president penned an executive order Wednesday increasing tariffs on India by 25 percent due to its purchases of Russian oil. The new import tax total is at 50 percent. The levy is set to go into effect in three weeks. 'They're buying Russian oil, they're fueling the war machine,' Trump said during a Tuesday interview with CNBC. India has pushed back, saying that buying Russian oil was a 'necessity' to stabilize energy costs in the country. Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.) have spearheaded a major sanctions bill against Russia, garnering more than 85 co-sponsors in the Senate. The bill would institute a 500 percent tariff on imports from nations that buy Russian oil, gas and uranium. Senators left for the August recess without advancing the legislation. 'We propose in our bill 500 percent. If it's 250 percent, I could live with it. Even if it's 100 percent, possibly. But you ought to impose bone-crushing sanctions that will stop them from fueling Russia's war machine,' Blumenthal said last week. Putin's envoy for investment and economic cooperation, Kirill Dmitriev, said Witkoff's meeting with Russian officials was 'constructive,' adding the U.S.-Russia dialogue would continue and is 'critical for global security and peace.' 'Our side has forwarded some signals, in particular on the Ukrainian issue and corresponding signals were received from President Trump,' Putin's foreign policy aide Yury Ushakov said after the meeting, according to Russian state media. Trump, who has long called for the nearly three-and-a-half-year war in Eastern Europe to end, has been expressing his frustration with Putin in recent weeks, demanding the Russian leader halt the attacks, often on civilian areas. Overnight, Russia's military struck a recreational center in the Zaporizhzhia region, where at least two people have been confirmed dead, according to Ukraine's President Volodymyr Zelensky. 'No matter what the Kremlin says, they will only genuinely seek to end the war once they feel adequate pressure. And right now, it is very important to strengthen all the levers in the arsenal of the United States, Europe, and the G7 so that a ceasefire truly comes into effect immediately,' Zelensky, who talked to Trump on Tuesday, said on social media.
The Hill
an hour ago
- The Hill
New plan to limit Russian energy, protect US trade
President Trump has become increasingly angry with Russian President Vladimir Putin. For about two months he has been threatening the Kremlin with 'secondary' sanctions, which would impose high duties on imports from the nations which continue to purchase Russian energy resources. The Russians seem unfazed by Trump's warnings (as well as by Sen. Lindsey Graham's (R-S.C.) recent remarks), citing their resilience to sanctions. Several authoritative sources argue that the U.S. simply cannot afford to impose even 100 percent duties on China, India or Turkey. If all of Russia's energy trading partners were subjected to new tariffs, the U.S. would hijack a significant part of its foreign trade and ruin its trade relationships with at least 26 countries. I agree with those who believe the new tariffs cannot be put in place by Trump's updated deadline for Russia. We have seen that 125 percent duties on China lasted less than a month, and in recent days, President Trump has announced 50 percent tariffs against Brazil, 25 percent tariffs against India and 15 percent tariffs on the European Union. One hundred percent duties don't seem plausible. I would urge changing the overall approach to make the tariffs more affordable. The goal appears to be to cut Russia's energy supply to the world. Trump's plan should make Russian oil more expensive to the buyers (by the way, the European 'oil price cap' approach has failed. It resulted in discounts for the Russian oil, thus encouraging its smuggling and creation of Russia's 'shadow tanker fleet'). In this sense, Trump's position looks more effective — but the major problem lies in the numbers. The predecessor of Trump's strategy — the bill proposed by Sens. Graham and Richard Blumenthal (D-Conn.) — calls for the duty to be applied to all imports coming to the U.S. from Russia's energy trading partners. I believe it is too radical and, frankly speaking, not very justified because of the lack of differentiation. A much better option would be to relate the tariffs to the actual amount of money countries pay to Moscow. For example, India sent $115 billion in its goods and services to the U.S. in 2024 and paid $49 billion for Russian oil that year. China exported $513 billion in goods to the U.S. in 2024 while it bought Russian oil, gas, and coal for up to $76 billion. The EU's figures stood at $939 billion and $34 billion, correspondingly. If the U.S. applies 100 percent tariffs linked to the Russian energy resources imported, it would fix additional duties for India this year at 42.6 percent of its exports to U.S., China's at 14.8 percent and Europe's at a mere 3.6 percent. These figures are not so astonishing. On the one hand, they seem manageable, and on the other hand, they still double the price of Russian oil for importing nations. If this strategy is taken as the principal one, the overall additional duties would equal the entire volume of Russia's energy exports, $261.9 billion for 2024. As the U.S. combined imports of goods and services amount to $4.11 trillion, the figure makes less than 6.5 percent in additional tariffs. It looks like a fair price for knocking Russia out as self-proclaimed 'energy superpower.' The measure would make Russia's 'shadow fleet' useless, since it doubles the price for Russia's energy for any country except those with zero exports to the U.S.. But these, if they exist, aren't significant oil importers that might be helpful to Moscow in substituting the vanishing demand for its oil and gas. I suggest amending Graham and Blumental's bill to impose the duty for goods or services imported into the U.S. to an amount that corresponds to each country's imports of Russian energy resources for the previous year. It would be a right recipe to destroy the Russian energy exports in two to three years and put Putin's economy on the brink of collapse without ruining America's trade ties to its major commercial partners. Should Trump adopt such a plan on Aug. 11, the chances of stopping Russia's aggression against Ukraine could rise significantly. Vladislav Inozemtsev is special adviser to the Middle East Media Research Institute's Russian Media Studies Project and is co-founder and senior fellow at the Center for Analysis and Strategies in Europe.
New York Post
an hour ago
- New York Post
EDGING CASTING 2-in-1 Cast Iron Dutch Oven and Skillet Lid is 45% off
New York Post may be compensated and/or receive an affiliate commission if you click or buy through our links. Featured pricing is subject to change. There are deals, and then there are deals that make you question whether you've accidentally time-traveled to a frontier homestead where quality cookware didn't cost a small fortune. The EDGING CASTING 2-in-1 Pre-Seasoned Cast Iron Dutch Oven Pot with Skillet Lid is currently 45% off on Amazon. This is the kind of cookware that doesn't flinch at a flame, scoffs at non-stick, and could probably outlive us all. Let's be real: durability is what matters, and most cast iron delivers. But what sets this one apart is its clever double duty. It's a Dutch oven and a skillet, meaning you can sear your meat in the lid and then braise it low-and-slow in the pot. It's the ultimate one-two punch for soups, stews, roasts, breads, cobblers, and anything else that benefits from slow heat. It's not flashy. It's not nonstick. It's not coaching you through calorie counts or promising to 'fit your modern aesthetic.' What it is, though, is a kitchen workhorse disguised as a deal so good it feels illicit. And if you've ever wanted to feel like you could cook over an open fire, or just nail a sourdough crust without spending $300 on a fancy brand name, this is your moment. Advertisement Amazon The EDGING CASTING 2-in-1 Dutch Oven and Skillet Lid combo is a pre-seasoned cast iron cooking set that combines the versatility of a 5-quart Dutch oven with the practicality of a matching skillet that doubles as its lid. Built for even heat distribution and long-term durability, this set works on all stovetops, in the oven, and over a fire. It's naturally nonstick (with proper seasoning) and ideal for baking, frying, roasting, and stewing — all without sacrificing valuable kitchen space. This article was written by Kendall Cornish, New York Post Commerce Editor & Reporter. Kendall, who moonlights as a private chef in the Hamptons for New York elites, lends her expertise to testing and recommending cooking products – for beginners and aspiring sous chefs alike. Simmering and seasoning her way through both jobs, Kendall dishes on everything from the best cookware for your kitchen to cooking classes that will level-up your skills to new dinnerware to upgrade your holiday hosting. Prior to joining the Post's shopping team in 2023, Kendall previously held positions at Apartment Therapy and at Dotdash Meredith's Travel + Leisure and Departures magazines.
