Latest news with #FederalCourt
Miami Herald
a day ago
- Business
- Miami Herald
Shark Tank's Kevin O' Leary has a bold take on tariff twist
Ever since President Donald Trump announced his tariffs back on April 2, a day he called "Liberation Day," the world has been on a roller coaster ride it did not sign up for. As they were originally presented, the tariffs would cause earth-shaking change for businesses across numerous sectors, from automotive to retail to technology. Don't miss the move: Subscribe to TheStreet's free daily newsletter Those who relied on China for imports were possibly the most threatened, as at one point, back-and-forth clashes between Trump and the country led to a 145% tariff. By May, Trump seemed to be backing down on some of his levies after talks with certain countries, leading voices on social media to come with with the acronym TACO, which stands for "Trumps Always Chickens Out." Trump lashed out at the accusation, saying, "It's called negotiation." Related: Federal Court delivers massive blow to Trump's tariff plan Now a new chapter has opened in the tariffs saga after a federal trade court voided certain tariffs on May 28, followed by a similar ruling from the District Court of Washington, D.C. on May 29. The White House immediately appealed, leading the U.S. Court of Appeals for the Federal Circuit to temporarily pause the void on tariffs while the appellate court decides what to do next. As the battle rages on, one of President Trump's most vocal tariff supporters has stepped up to give his own opinion on the matter. Image source: Willard/Disney via Getty Images In a tweet posted on X early on the morning of May 30, tech investor and "Shark Tank" personality Kevin O' Leary weighed in on the rapid changes unfolding with tariffs, taking a stand on his personal beliefs. "I don't care about the political theater; I care about policy and how it impacts markets," the tweet read. "Trump's tariff strategy might look chaotic, but it's forcing the world to the table. Markets are near all-time highs, employment's strong, and tech's on fire. That's what matters," he said. More Tariffs: Tesla, Elon Musk make drastic decision amid U.S.-China trade warMajor U.S. automaker makes harsh decision in the wake of tariff tussleTariffs will devastate this entire industry O'Leary also posted a clip of himself in an interview with Fox News, where he dove deeper into the comments he summed up in the tweet. "I don't mind that this president and this administration has this unique attribute of doing everything, as sausage is being made, with a camera there," he said. "Trump doesn't care. So you're watching sausage being made with all of this volatility just around the tariff narrative. He stretched and pushed the powers of the executive up against the courts. He doesn't care. And they push back. He doesn't care." O'Leary points out that, in his eyes, things are good under Trump's rule. "The market is now back near its highs. The economy almost full employment. We are killing it in tech, where I'm an investor. I'm very, very happy," he said. Then, O'Leary revealed what he thinks the president is really trying to achieve. "And yet the market is starting to figure out that what really Trump is doing is getting us to a reciprocal tariff maybe around 10% by the time we get to the midterms," he said. "That's kind of the vibe in the market right now. And no administration has tried to negotiate 60 trade deals at once. That's never been done. And so obviously now with these pushbacks from the gonna be a little slower." In another tweet sent the morning of May 30, O'Leary summed up his take, short and sweet. "Most people get distracted by the chaos around Trump," the tweet read. "I don't. I follow policy, because that's where the money is. He's rewriting the rules of global trade. Ignore the spectacle. Track the signal. That's how you win." Related: Shark Tank's Kevin O'Leary warns Americans on Social Security problem The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Entrepreneur
a day ago
- Business
- Entrepreneur
MarketBeat Week in Review – 05/26 - 05/30
Despite a tame inflation read, tariff concerns still weigh on investors as the Trump administration's tariff plans will now be litigated in Federal court This story originally appeared on MarketBeat Stocks struggled to find direction after a Federal Court struck down the tariffs that the Trump administration proposed on "Liberation Day." The ruling was reversed on appeal, but it adds another layer of complexity to an ongoing concern for investors. Another concern is inflation. Friday's reading of the Personal Consumption Expenditures (PCE) index showed that inflation is cooling. This raises two questions for investors. First, is this the calm before tariffs cause inflation to move higher? Second, how strong are consumers really? The answers that companies gave this earnings season are "maybe" and "it depends on which consumer." With so many unanswered questions, investors could probably use a quieter summer, but that may not be the case this year. Tariff uncertainty and the likely drama over the Trump administration's major legislative bill moving through Congress will frame the narrative for stocks over the coming months. No matter what happens in the market, the MarketBeat analysts will keep you informed, so investors can step away from their screens. Here are some of our most popular articles from this week. Articles by Thomas Hughes The earnings report from NVIDIA Corp. (NASDAQ: NVDA) has become a "must-see" event for investors. Before the chip maker reported, Thomas Hughes used technical analysis to explain why NVDA stock may rally more than 50% above its pre-earnings level. Workday Inc. (NASDAQ: WDAY) was another AI stock that reported earnings this week. WDAY stock fell on the company's weaker-than-expected guidance. However, Hughes reminds investors that growth is still growth, particularly in an area like artificial intelligence. Nuclear stocks received a boost this week as the Trump administration fulfilled its campaign promise to reduce regulation for the industry. Hughes highlighted three nuclear stocks poised for strong growth. Articles by Sam Quirke Love it or hate it, you can't ignore Tesla Inc. (NASDAQ: TSLA) stock. But this week, Sam Quirke explained why investors may want to hit the Buy button. Elon Musk's return is refocusing investors on Tesla's non-EV ambitions, which Quirke pointed out may be why the stock moves higher. Speaking of stocks that could rally, Quirke explained why investors might want to look at Ltd. (NASDAQ: WIX). The cloud-based website development platform company's stock dropped over 16% after a mixed earnings report, but Quirke gave investors three reasons to believe a significant rally is coming this summer. Normally, stocks with a high relative strength indicator (RSI) are prime candidates to move lower. However, Quirke identified two stocks with scorchingly high RSIs that continue to enjoy favorable analyst sentiment, which could lead to higher highs. Articles by Chris Markoch The fact that Palantir Technologies Inc. (NASDAQ: PLTR) announced another deal is no longer an event that moves PLTR stock. However, Chris Markoch pointed out that its latest deal with the U.S. Department of Defense (DoD) is the company's first $1 billion contract. It's another milestone for the company but may already be priced into the stock. Dividend stock investors know that when it comes to metrics like yield and payout ratio if a number seems too good to be true, it frequently is. However, Markoch analyzed three dividend stocks that have juicy payout ratios, but are still safe stocks to own. The Coca-Cola Company (NYSE: KO) is one of the year's best-performing stocks. It's rival PepsiCo Inc. (NASDAQ: PEP) has been a laggard. This week, Markoch explained why both companies merit a place in portfolios, but PEP stock may have a stronger upside for the rest of the year. Articles by Gabriel Osorio-Mazilli With more autonomous vehicles being tested and deployed for commercial use, it's become an investable theme for more than speculative investors. This week, Gabriel Osorio-Mazilli highlighted two ideas for investors, and Waymo is the key to each. Uber Technologies Inc. (NYSE: UBER) has surprised some investors by emerging as almost a pure-play for autonomous vehicles. The ride-sharing company recently signed a deal with Waymo, which is already delivering over 250,000 monthly rides. However, another way to play that thesis is to go right to the source. In this case that means buying stock in Alphabet Inc. (NASDAQ: GOOGL), which is the parent company of Waymo. With Alphabet facing headwinds in other parts of its business, Waymo's projected growth could be a reason for investors to buy the dip. This week was also a big week for earnings from retail stocks. One of those reports came from Ross Stores Inc. (NASDAQ: ROST). Osorio-Mazilli pointed out that the report dropped the same day that the Trump administration announced a 50% tariff on the EU. However, the double beat from the discount retailer could be a discrepancy you can profit from. Articles by Leo Miller Many investors know that a stock like NVIDIA has coattails. But this week, Leo Miller highlighted the performance of Navitas Semiconductor Corp. (NASDAQ: NVTS). The stock soared over 164% after the company announced a deal with NVIDIA. A pullback may be imminent, but Miller explained why the technology behind Navitas' chips is worth noting. Quantum computing stocks got a lift this week when sector leader IonQ Inc. (NASDAQ: IONQ) compared the company's future to that of NVIDIA. Miller analyzed IONQ along with other quantum stocks that will be leading this emerging sector. Pullbacks are normal when stocks hit their 52-week highs. However, those dips can lead to opportunities. This week, Miller gave investors three stocks to consider, while each is down more than 50% from the 52-week high. Articles by Nathan Reiff Sticking with the quantum stock theme, Nathan Reiff analyzed the strong move in D-Wave Quantum Inc. (NYSE: QBTS) stock. The company recently launched its most powerful commercially available quantum system, Advantage2. Reiff noted that it will be hard for skeptics to ignore the stock's potential, but investors should still be concerned about valuation. Articles by Dan Schmidt During times of volatility, investors want to find stocks that offer stability, but with the potential to outperform. Dan Schmidt gave investors three blue-chip stocks with a history of solid earnings growth and safe dividends. The Trump administration's executive orders on nuclear power may accelerate the development of small nuclear reactors (SMRs). Schmidt helped investors understand the significance of SMRs in the sector and highlighted three nuclear stocks that stand to benefit. Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now... See The Five Stocks Here
New Straits Times
a day ago
- Politics
- New Straits Times
Anwar's constitutional question to federal court not aimed at absolute immunity
KUALA LUMPUR: The application by Prime Minister Datuk Seri Anwar Ibrahim to refer several constitutional questions to the Federal Court, under Article 128(2) of the Federal Constitution and Section 84 of the Courts of Judicature Act 1964, is not intended to create absolute immunity for any individual. According to the Attorney-General's Chambers (A-GC), these questions raise new and unprecedented constitutional issues, particularly concerning the relationship between civil litigation and the ability of a sitting prime minister to effectively perform executive functions. The A-GC said that the eight questions include, among others, whether civil actions related to pre-office conduct can proceed if they undermine the prime minister's ability to govern. "Whether the Constitution implicitly requires judicial threshold review in such cases, and whether Articles 5(1), 8(1), 39, 40, and 43 of the Constitution support procedural protection to safeguard the separation of powers and institutional stability," the A-GC said in a statement released today. The A-GC clarified that these questions are structural in nature regarding constitutional governance, not about personal immunity. The AG-C added that the constitutional reference process was established to enable the High Court and Federal Court to make conclusive determinations on such issues. The A-GC respects the integrity of this constitutional mechanism and will evaluate any request for intervention based on legal merit and public interest, rather than politically charged sentiments. Furthermore, the A-GC stressed that any decision regarding the effect of constitutional provisions rests solely within the jurisdiction of the Federal Court under Article 128(2) of the Constitution. On May 27, the Prime Minister applied to refer eight legal questions to the Federal Court for decision. This application includes the question of whether he possesses immunity from a civil suit filed by his former researcher, Yusoff Rawther, four years ago. Anwar also requested the court to consider whether the lawsuit impacts his ability to carry out executive duties and undermines the principle of separation of powers guaranteed by the constitution.
Malay Mail
a day ago
- General
- Malay Mail
AGC: Anwar's constitutional bid to Federal Court is structural, not meant to provide personal immunity
KUALA LUMPUR, May 31 — The application by Prime Minister Datuk Seri Anwar Ibrahim to refer several constitutional questions to the Federal Court, under Article 128(2) of the Federal Constitution and Section 84 of the Courts of Judicature Act 1964, is not intended to create absolute immunity for any individual. According to the Attorney General's Chambers (AGC), these questions raise new and unprecedented constitutional issues, particularly concerning the relationship between civil litigation and the ability of a sitting prime minister to effectively perform executive functions. The AGC stated that the eight questions include, among others, whether civil actions related to pre-office conduct can proceed if they undermine the Prime Minister's ability to govern. 'Whether the Constitution implicitly requires judicial threshold review in such cases, and whether Articles 5(1), 8(1), 39, 40, and 43 of the Federal Constitution support procedural protection to safeguard the separation of powers and institutional stability,' the AGC said in a statement released today in Kuala Lumpur. The AGC clarified that these questions are structural in nature regarding constitutional governance, not about personal immunity. The AGC further explained that the constitutional reference process was established to enable the High Court and Federal Court to make conclusive determinations on such issues. The AGC respects the integrity of this constitutional mechanism and will evaluate any request for intervention based on legal merit and public interest, rather than politically charged sentiments. Furthermore, the AGC emphasised that any decision regarding the effect of constitutional provisions rests solely within the jurisdiction of the Federal Court under Article 128(2) of the Federal Constitution. On May 27, the Prime Minister applied to refer eight legal questions to the Federal Court for decision. This application includes the question of whether he possesses immunity from a civil suit filed by his former researcher, Yusoff Rawther, four years ago. Anwar also requested the court to consider whether the lawsuit impacts his ability to carry out executive duties and undermines the principle of separation of powers guaranteed by the constitution. — Bernama
The Sun
a day ago
- Politics
- The Sun
PM Anwar's constitutional questions to Federal Court not aimed at absolute immunity
KUALA LUMPUR: The application by Prime Minister Datuk Seri Anwar Ibrahim to refer several constitutional questions to the Federal Court, under Article 128(2) of the Federal Constitution and Section 84 of the Courts of Judicature Act 1964, is not intended to create absolute immunity for any individual. According to the Attorney General's Chambers (AGC), these questions raise new and unprecedented constitutional issues, particularly concerning the relationship between civil litigation and the ability of a sitting Prime Minister to effectively perform executive functions. The AGC stated that the eight questions include, among others, whether civil actions related to pre-office conduct can proceed if they undermine the Prime Minister's ability to govern. 'Whether the Constitution implicitly requires judicial threshold review in such cases, and whether Articles 5(1), 8(1), 39, 40, and 43 of the Federal Constitution support procedural protection to safeguard the separation of powers and institutional stability,' the AGC said in a statement released today in Kuala Lumpur. The AGC clarified that these questions are structural in nature regarding constitutional governance, not about personal immunity. The AGC further explained that the constitutional reference process was established to enable the High Court and Federal Court to make conclusive determinations on such issues. The AGC respects the integrity of this constitutional mechanism and will evaluate any request for intervention based on legal merit and public interest, rather than politically charged sentiments. Furthermore, the AGC emphasized that any decision regarding the effect of constitutional provisions rests solely within the jurisdiction of the Federal Court under Article 128(2) of the Federal Constitution. On May 27, the Prime Minister applied to refer eight legal questions to the Federal Court for decision. This application includes the question of whether he possesses immunity from a civil suit filed by his former researcher, Yusoff Rawther, four years ago. Anwar also requested the court to consider whether the lawsuit impacts his ability to carry out executive duties and undermines the principle of separation of powers guaranteed by the constitution.
