Latest news with #Cook
Yahoo
10 hours ago
- Business
- Yahoo
Trump Hammers the Markets with New Scorched Earth Trade War on Apple and Europe
Donald Trump reignited his scorched-earth trade war on Friday, unleashing a fiery social media tirade that took aim at Apple and Europe with fresh tariff threats. In classic flip-flop fashion, the president is back on the offensive. Just weeks after hitting pause on his so-called 'reciprocal' tariffs amid market turmoil, he's doubling down with predictable results sending Dow Futures plunging by around 400 points in early trading. In blistering posts on Truth Social on Friday morning, Trump warned that Apple would face a 25 percent tariff unless it moves iPhone production to the U.S. He also said he is 'recommending' a 50 percent tariff on the European Union starting June 1, escalating tensions with the continent that is traditionally one of America's closest allies. The EU 'has been very difficult to deal with,' Trump wrote. 'Our discussions with them are going nowhere!' Increased tariffs on Europe would lead to huge effective taxes on luxury goods. 'We've had this de-escalation tailwind at the market's back for like six weeks now — and the market has had one of its best six-week stretches in the last 75 years — and a re-escalation of trade war rhetoric threatens that,' Ross Mayfield, an investment strategist, told CNBC. Trump's first call of order was to escalate his stand-off with Apple CEO Tim Cook after the tech giant signaled it would switch assembly of its iPhones for the U.S. market to India. The president threatened the company after Cook failed to bend the knee and was a notable absentee from the tech mogul road trip to the Mideast last week. The California giant's shares immediately fell 3 percent in premarket trading. After previously reversing tariffs on Apple goods, Trump said the tech company will face a 25 percent tariff if production for iPhones isn't shifted to the U.S. 'I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,' Trump wrote. 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S,' he added. 'Thank your for your attention to this matter!' His warning came days after Cook said that factories in India would soon supply the 'majority' of iPhones sold in the U.S., as the tech company attempts to swerve the tariffs Trump has slapped on Chinese-made products. Apple plans to source the 60 million iPhones sold annually in the U.S. from India by the end of 2026, according to the Financial Times. The newspaper also reported Friday that Foxconn, a key Apple supplier, is investing $1.5 billion to ramp up production of the company's best-selling product in India. According to Reuters, it's unclear if Trump can slap tariffs on an individual company. The very public warning came days after Trump said he told his 'friend' Cook that he 'had a little problem' with him looking to build Apple products in India. 'I said to Tim… 'Tim look, we treated you really good…India can take care of themselves ... we want you to build here,'' Trump said. The Daily Beast has contacted Apple for comment. Trump took aim at the EU some 30 minutes later, over what he said was stalled trade negotiations between the key trading partners. 'The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,' the president said. 'Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable,' he ranted. Trump added: 'Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.' Top U.S. and EU trade officials were expected to hold talks Friday to assess progress in their ongoing tariff negotiations, the Wall Street Journal reported. Officials have a prearranged call at 11:30 a.m. and the EU won't comment on Trump's threats until after that call takes place said, an official said. The outburst came after weeks of market chaos triggered by Trump's sweeping 'reciprocal tariffs' on more than 180 countries. He announced a 90-day pause just a week later, granting a brief window for trade deal negotiations to take place between every country besides China—though the U.S. and China had finally agreed to a 90-day truce beginning May 14 to significantly lower tariffs.
Sydney Morning Herald
21 hours ago
- Science
- Sydney Morning Herald
Rock art expert breaks silence over Burrup emissions study controversy
A leading statistician on an emissions study into an ancient West Australian rock art site has spoken supporting an 800-page report, days after blasting WA bureaucrats for 'unacceptable interference' by altering a graph in a separate summary of that report. The report on monitoring of industrial emissions near the site on the Burrup Peninsula in the state's north-west was released last Friday, and lauded by industry and the Cook government as proof that modern industrial emissions were not currently impacting the ancient petroglyph images carved into the site's striking rock landforms. That conclusion was rubbished by world-renowned rock art expert Ben Smith, who said the 800-page report showed the opposite. The Murujuga rock art monitoring program is a $27 million joint effort between Curtin University scientists, Murujuga Aboriginal Corporation and the Department of Water and Environmental Regulation. Its release came days before Federal Environment Minister Murray Watt approved a 40-year extension to the life of Woodside's North West Shelf assets – among which are a gas plant releasing some of the emissions being monitored. The report was published alongside an eight-page summary featuring graphs showing benchmark levels for acceptable pollution on the Burrup. The ABC reported Curtin University Emeritus Professor Adrian Baddeley, who was the report's chief statistician, complained in an email to DWER on Tuesday that one of those graphs had been altered on the summary. The alteration removed a line showed in the main report, showing an early warning threshold of pollution on the Burrup. Baddeley, who told a pro-Palestine rally at Curtin last May universities had become 'more corporate, much more authoritarian, much more coercive' wrote to the government department:
The Age
21 hours ago
- Science
- The Age
Rock art expert breaks silence over Burrup emissions study controversy
A leading statistician on an emissions study into an ancient West Australian rock art site has spoken supporting an 800-page report, days after blasting WA bureaucrats for 'unacceptable interference' by altering a graph in a separate summary of that report. The report on monitoring of industrial emissions near the site on the Burrup Peninsula in the state's north-west was released last Friday, and lauded by industry and the Cook government as proof that modern industrial emissions were not currently impacting the ancient petroglyph images carved into the site's striking rock landforms. That conclusion was rubbished by world-renowned rock art expert Ben Smith, who said the 800-page report showed the opposite. The Murujuga rock art monitoring program is a $27 million joint effort between Curtin University scientists, Murujuga Aboriginal Corporation and the Department of Water and Environmental Regulation. Its release came days before Federal Environment Minister Murray Watt approved a 40-year extension to the life of Woodside's North West Shelf assets – among which are a gas plant releasing some of the emissions being monitored. The report was published alongside an eight-page summary featuring graphs showing benchmark levels for acceptable pollution on the Burrup. The ABC reported Curtin University Emeritus Professor Adrian Baddeley, who was the report's chief statistician, complained in an email to DWER on Tuesday that one of those graphs had been altered on the summary. The alteration removed a line showed in the main report, showing an early warning threshold of pollution on the Burrup. Baddeley, who told a pro-Palestine rally at Curtin last May universities had become 'more corporate, much more authoritarian, much more coercive' wrote to the government department:
India Today
a day ago
- Business
- India Today
Apple opening its 3rd store in India in Bengaluru, Phoenix Mall is the place
Apple is doubling down on India, and Bengaluru is next in line for the Apple retail experience. The tech giant is set to open its third physical store in the country, this time at the Phoenix Mall of Asia in Hebbal, Bengaluru, according to a Business Standard report. The move is part of Apple's growing love affair with India, even as tensions brew across the Pacific. advertisementSet to occupy a prime 8,000 square foot space on the mall's first floor, the new store will be similar in scale to Apple's Delhi outlet, though still dwarfed by the brand's flagship Mumbai store, which covers a whopping 20,800 square feet. While not the largest, the Bengaluru location is expected to pack the same Apple aura — minimalist interiors, expert staff in black tees, and plenty of glass. The report also stated that Apple has leased the place for 10 years. Apple will cough up 2 per cent of its store revenue for the first three years, with the figure climbing to 2.5 per cent in subsequent years. It added, "The lease period has commenced from November 8, 2024, while the rent commencement date is August 8, 2025." This means that the store may open in just a few months from now. advertisement This store is just one piece of a much larger puzzle. Apple CEO Tim Cook recently confirmed the company's intent to open four more retail outlets in India, with Pune and Delhi-NCR joining Mumbai and Bengaluru on the map. The first two stores, which opened in 2023, were seen as symbolic steps in Apple's India journey, this third opening signals something much more has become central to Apple's global plans, not just as a market for sales, but increasingly as a key manufacturing hub. In fact, Cook told analysts during Apple's Q2 2025 earnings call that, come June, most iPhones sold in the United States will carry a 'Made in India' tag. Meanwhile, Vietnam will be the country of origin for the majority of iPads, Macs, Apple Watches, and AirPods sold while Apple expands its footprint across South and Southeast Asia, the mood in Washington is anything but relaxed. President Donald Trump has issued a warning shot, threatening a 25 per cent tariff on iPhones not made in the United States, in a bid to nudge Apple back toward domestic production. It's the latest twist in the ongoing US-China trade saga, one that now seems to be pulling India and Vietnam into its remains unclear is whether these looming tariffs will force Apple to re-evaluate its overseas bets. But judging by the company's current pace in India, and the ink now dry on a decade-long lease in Bengaluru, it appears Apple has no plans to hit the pause button. With more stores on the way and India playing an increasingly vital role in Apple's global supply chain.
Yahoo
a day ago
- General
- Yahoo
The investigation into Hogsett's handling of harassment claims is over. What the firm found
An independent investigation into Indianapolis Mayor Joe Hogsett's response to alleged harassment by his former chief of staff Thomas Cook found that the city didn't break any laws in its response to those complaints, but raised new questions about the end of Cook's tenure as chief of staff back in 2020. Chicago-based law firm Fisher Phillips' investigation found that Cook was allowed to stay on as chief of staff for 68 days following the city's 2020 investigation that found Cook had violated city policy by having another relationship with a subordinate. The law firm said that time period warrants further investigation. The overall finding from the law firm is that Hogsett's administration acted within the law during three investigations conducted in 2017, 2020 and 2023 as the result of Cook's alleged behavior. IndyStar reported last year that three women alleged that Cook sexually harassed them while he was their supervisor, and Cook engaged in another consensual relationship with a subordinate employee. One of the women alleging harassment against Cook also said that he sexually assaulted her. "While complainants 1 and 2 challenge the existence, timing, and integrity of the investigations into their raised complaints, the response by Mayor Hogsett and his administration was legally sufficient and reasonable under the circumstances," according to the law firm's final report. However, the report noted that while the mayor's decision to allow Cook to resign as opposed to face termination was "not inconsistent with the law," the fact that Cook had knowingly violated a prior directive against having relationships with employees "would reasonably cause the City-County's decision to be questioned." In addition, the law firm noted that "Some individuals interviewed during this investigation shared their perception that (Cook) was given an opportunity to use the period from November 2, 2020, through December 30, 2020, to position himself for personal gain by negotiating contracts for his own benefit," according to the report. "We also recommend (the city) identifies action steps the City-County can take to minimize potential for City-County employees to negotiate contracts for personal gain while employed at the City-County or for the 12-months following their departure," according to the firm. Several council members on the investigative committee - including Democratic committee Chair Christa Carlino - said they felt there was a difference between the administration's legal obligations and its ethical ones. "Just because something's perfectly legal, doesn't make it right," Carlino said. She said the council should look further into Cook's departure from the city in 2020. Fisher Phillips also recommended that the city dissolve its current human resources structure in favor of an independent one, as well as appoint an independent inspector-general, in its presentation of a final report at the Indianapolis City-County Council's investigative committee on May 29 after a months-long investigation. Fisher Phillips' attorney Danielle Kays said 12 people were interviewed over the course of the investigation, including Hogsett and two women who said they were harassed by Cook. Kays said the firm reached out to Cook multiple times and received no response. Cook previously apologized for his conduct in a statement to IndyStar last year. He has not been charged with a crime. The meeting was tense and emotionally charged. At one point, Carlino recessed the meeting as Lauren Roberts, Hogsett's former deputy campaign manager, who was on speaker phone, pleaded with Carlino to get a copy of the report, which she had not received even as the law firm presented their findings about her case to the public. "This entire thing has been torture," Roberts said. "I'm sitting here being dissected in public." Carlino said no one from the council or public — besides its general council — had access to the report before it was presented tonight by the law firm. "I know the wait has been excruciating for those survivors," Carlino said. Hogsett said in a statement after the report presentation that "the findings are clear that the earlier investigations and resulting sanctions were handled appropriately and confidentially," though clarified he hadn't had time to read the report in full. "It remains crucial that the city has the best system in place for reporting, investigating, and dealing with harassment of any kind, which is why I will work with the City-County Council on how these recommendations may further strengthen efforts to create a safer, better workplace for everyone throughout the city's operations," Hogsett said. The City-County Council launched an investigative committee last year to probe Hogsett's response to the alleged harassment by Cook. IndyStar reported in 2024 that Cook faced sexual harassment and assault claims by three women who worked under Cook over the course of a decade. The sexual harassment allegations in Mayor Hogsett's administration: What you need to know Cook also had a relationship with another subordinate employee while he was serving as chief of staff, which prompted him to be asked to resign from the administration back in 2020. Two of the women have alleged that Hogsett didn't handle the allegations properly. Roberts, for example, has said that Hogsett didn't respond to her when she reached out about Cook's alleged treatment of her during the campaign, and that she was never interviewed as part of any investigation over the conduct. Hogsett previously apologized to women who say they were harmed by Cook, but has also defended his response. This story will be updated. Contact senior government accountability reporter Hayleigh Colombo at hcolombo@ Sign up for our free weekly politics newsletter, Checks & Balances, by IndyStar political and government reporters. This article originally appeared on Indianapolis Star: Here's what law firm found on Hogsett's response to sexual harassment
