Latest news with #GrandCanyon-sized
Yahoo
3 days ago
- Business
- Yahoo
Tariffs Deliver Record Drop in US Trade Deficit
Call it the gravitational pull of Trump's tariffs: First came the tidal wave; now, the tide is receding. After a record-breaking trade deficit in March, as businesses rushed to order goods ahead of a massive spike in import duties, data from the US Commerce Department on Thursday shows that April delivered a record-breaking decrease in the trade deficit. Does that mean the US has won the first big battle of the trade war? Well, it's complicated. READ ALSO: Circle Spirals Upward in $1 Billion IPO and NBA Finals Kick Off With an Old (Footwear) Friend So just how big was the drop? In April, the trade deficit narrowed to just $61.6 billion — way, way, way smaller than the record-setting, Grand Canyon-sized $138.3 billion chasm seen in March. That marks the largest month-over-month deficit contraction on record, according to the Commerce Department, and comes in below consensus expectations of approximately $66 billion. Overall, imports of foreign goods fell about 16% month-over-month to $351 billion, the report said. According to a data analysis by The New York Times combining figures from the Commerce Department and tracking by Moody's Analytics, the decrease included importing fewer cell phones from China, pharmaceuticals from Switzerland and Ireland, and automotive parts from South Korea, Japan, Mexico, and Canada. Canada reported a record trade deficit of its own on Thursday, of about $5.2 billion (in US currency) in April, as its auto industry gets crushed by tariffs. Curbing America's reliance on imports was just Step One of the White House's economic plan. In April, at least, it looks like Mission Accomplished (Note: Economists don't tend to think deficits are inherently negative). But Step Two in the plan was reviving America's manufacturing core, and it remains unclear if tariffs will prove an effective tool to that end: Helping shrink the deficit gap was a 3% bump in US exports to $289.4 billion in April, per the Commerce Department — also good for nearly $16 billion more than recorded in April 2024. From March to April, the US swung from a trade deficit to a trade surplus with several countries, including Australia, Switzerland, and Spain. That said, US manufacturing isn't exactly thriving under the new stop-and-start tariff regime. Manufacturing activity contracted for the third consecutive month in May, according to an Institute for Supply Management survey released earlier this week, as tariffs spike the prices and delivery times of inputs; the materials shortage has caused particular headaches in the auto industry, with Ford even temporarily halting production at a Chicago plant last week. Deals, Deals, Deals: Step Three in the White House's plan has been to use the threat of major tariffs to renegotiate trade deals with countries the world over. Thursday also provided some updates on that front, with German Chancellor Friedrich Merz visiting the White House as the European Union continues to hash out trade agreements with the US. 'He's a very great representative of Germany,' POTUS Trump said of Merz, adding, 'We'll have a good trade deal.' The White House also agreed to further talks with leaders in Beijing on Thursday, with the president saying 'we're in very good shape with China and the trade deal' after the two sides had gotten 'a little off-track.' This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter.
USA Today
23-05-2025
- Sport
- USA Today
McMenamin: Lakers showed interest in trading for Hawks center
McMenamin: Lakers showed interest in trading for Hawks center The Los Angeles Lakers badly need a starting-caliber center, and they have been looking for help at that position for some time now. They lacked a legitimate backup behind Anthony Davis during Davis' last few seasons with them, and once he was sent away in the Luka Doncic deal, they suddenly had a Grand Canyon-sized hole at that position. They had to survive with Jaxson Hayes, who is thin as a reed and not a consistent defensive presence, as their only true 5 on a standard contract since acquiring Doncic. The Lakers did make a real effort to plug that hole, however. They tried to land rising Charlotte Hornets center Mark Williams, but that attempted trade was rescinded when he failed his physical. ESPN's Dave McMenamin said on 'Straight Fire' with Jason McIntyre that they also looked into trading for Onyeka Okongwu of the Atlanta Hawks. 'Before the Mark Williams trade, and I can't tell you all the names on that list but I actually assume he was one of the names on the list that Rob Pelinka presented to Luka because I do know the Lakers made a call to the Hawks around the trade deadline about Okongwu,' McMenamin said. Okungwu, 24, is 6-foot-10 and 240 pounds, and he reportedly has a wingspan of 7-foot-2. The No. 6 pick in the 2020 NBA Draft, he has been starting to emerge as an impact player over the last year or two. This season, he averaged 13.4 points, 8.9 rebounds and 0.9 blocks in 27.9 minutes a game. He's a good finisher around the rim and possesses strong athleticism, as well as a solid motor, especially on the boards. He will make $15 million next season, so he could be a relatively inexpensive get for Los Angeles, at least in terms of the players it would have to give up.
Yahoo
07-05-2025
- Politics
- Yahoo
Vance name fails to boost Bowman in Cincinnati mayor's race
Cincinnati hasn't had a Republican mayor in more than 50 years, and that streak isn't in danger based on Tuesday's primary election results. Incumbent Mayor Aftab Pureval is poised to cruise into a second term with little resistance. He dominated the low-turnout primary with 82.5% of the vote, according to unofficial results from the Hamilton County Board of Elections. Republican Cory Bowman, Vice President J.D. Vance's half-brother, came in a distant second with 13% of the vote. More: What the primary tells us about Hyde Park, JD Vance, and the November election The two men will now go head-to-head in November for the mayor's seat. Barring some scandal or self-inflicted political wounds by Pureval, I don't expect the outcome to change. Bowman, who has struggled to rally support, might get beaten even worse in a general election when more voters usually turn out. Cincinnati mayor Aftab Pureval during The Cincinnati Enquirer mayoral debate at the Covedale Center for the Arts Tuesday, March 25, 2025. Pureval expressed gratitude to the people of Cincinnati. "Election Day is always a special day in our democracy. It is our opportunity as citizens to make our voices heard and choose the direction we want our city to go in the next four years. I don't take lightly the responsibility the voters have given me over the past three years," Pureval told me in a phone interview. Of Tuesday's election results, he said, "I'm not sure I can read anything into it other than the people think the city is on the right path." Bowman, a West End pastor and coffee shop owner, kept the faith despite the Grand Canyon-sized vote gap between him and Pureval. Advancing to November in his first political campaign was the goal, he said. I reached out to Bowman, but he didn't immediately return my call or text. "What I will say is that looks like he had a good head start, but we're kind of catching up a little bit," Bowman told the Enquirer. "So once I see the numbers there, I'll know what our mission, our focus needs to be going into November.' More: Forget the mayor's race. 27 want to run for Cincinnati City Council A good head start? I guess that's one way of looking at it, if you're wearing rose-colored glasses. Here's a more clear-eyed view. Bowman has a 16,000-vote Mount Everest he must climb the next six months in a Democratic-leaning city. He got less than 3,000 votes and won only two of 190 precincts. I'll be generous and say the chances of overcoming those numbers are highly improbable. Bowman's family ties might have helped him outlast Republican Brian Frank, whose performance was more dismal with less than 5% of the vote, but riding Vance's coattails won't be enough to unseat Pureval. The vice president endorsed Bowman just hours before the polls closed, seemingly without much effect. If Bowman wants any shot at a more respectable finish in November, he needs to give Cincinnatians a reason to vote for him. That starts with doing a better job of articulating his vision and plans for the city. Saying what you don't like and that new leadership is needed simply isn't enough. I'm glad that Bowman and Frank decided to run against Pureval. I think the public loses anytime candidates run unopposed for elected office. Citizens benefit whenever candidates have to debate their ideas, explain their vision, and defend their records. Seeing the contrast and having a choice matters. That's why I'm hoping Bowman can step up his game in the months ahead. Is he serious about being Cincinnati's mayor, or is he more interested in trading on his half-brother's celebrity for his own 15 minutes of fame? He managed to get featured in POLITICO Magazine before the primary. Winning might not be the point. Bowman could simply be using this race to raise his national profile or position himself for other political opportunities down the road. (Hey, it worked for Vivek Ramaswamy.) If so, that's even more of a reason for him to make a decent showing. The political future isn't typically bright for candidates who get trounced in elections. Cincinnati mayoral candidate Cory Bowman makes a statement as polling numbers show him trailing behind incumbent mayor Aftab Pureval, and advancing to the general election, at his election night party in the West End neighborhood of Cincinnati on Tuesday, May 6, 2025. Meanwhile, Pureval has his sights set on another four years as mayor in what could be his last election. Nothing is certain, but Pureval said the thought of stepping away from politics after a second term has crossed his mind. "A lot of politics is timing, and there may not be an opportunity for me in elected office given the political realities in the state," Pureval said. "My goal was never to be a career politician. It was to do the most good with the time that I have. I'm genuinely passionate about public service, but that may not take the role of electoral politics." But that's a conversation for the future. Pureval said he's focused on the two most important jobs he has right now: being mayor and being a father to two sons under five. "You have a very brief amount of time in these roles, and I feel a sense of urgency to get the difficult things done and set Cincinnati up for success after I'm gone," Pureval said. Bowman doesn't have much time either. He'd better start knocking on some more doors. After Tuesday, the one to the mayor's office might already be closed. Opinion and Engagement Editor Kevin S. Aldridge can be reached at kaldridge@ On X: @kevaldrid. This article originally appeared on Cincinnati Enquirer: JD Vance's endorsement didn't help Bowman in mayoral primary | Opinion
NBC Sports
17-04-2025
- Sport
- NBC Sports
Fantasy Baseball Dynasty Stock Watch: Matt Shaw falling, JJ Wetherholt rising
Prospects are risky. Matt Shaw's early-season demotion to Triple-A Iowa after just 18 games further illustrates the Grand Canyon-sized gap between the big leagues and upper minors that even consensus top prospects struggle to traverse. The 23-year-old corner infielder entered the year positioned to make an immediate five-category impact as a potential 20-homer, 25-steal threat for fantasy managers after posting a .284/.379/.488 triple-slash line with 19 homers and 31 steals in 121 games last year in the upper minors. The surface stats don't tell the entire story, but they're impossible to ignore after Shaw compiled a disastrous .172 (10-for-58) with one homer and 18 strikeouts in 68 plate appearances. His underwhelming 82.7 percent average exit velocity ranked in the bottom-10 out of 279 qualified hitters, per Baseball Savant. Shaw's lightning-quick demotion doesn't come as a total shock given his calamitous performance, but it's extremely surprising from the standpoint that he was viewed by most fantasy analysts, including most of us here at Rotoworld, as one of the top prospects with the highest likelihood to succeed right away based on his combination of opportunity, immense talent and lengthy track record. Here's an oversimplification: Buy the dip. Nothing has fundamentally changed regarding Shaw's long-term outlook besides the fact that he'll spend the next couple weeks, if not longer, resetting and rebuilding his confidence at Triple-A Iowa. Early season results matter, and dynasty managers shouldn't completely dismiss Shaw's unexpected flop at the highest level, but it's such a small sample size that it shouldn't impact his long-term outlook. Rotoworld's Dynasty Stock Watch is a weekly podcast for your eyes that takes a deeper dive into trending prospects from a long-term perspective. We'll occasionally touch on notable developments with universally-regarded top prospects, but my colleague Chris Crawford does a phenomenal job each Monday breaking down the handful of top prospects on the verge of helping fantasy managers in re-draft formats. His latest installment Roman Anthony, Jordan Lawlar, Nick Kurtz, Coby Mayo and Bubba Chandler. This week's edition examines a handful of prospects on the rise including JJ Wetherholt, Ryan Sloan, Josue De Paula, Robby Snelling and Jesús Made. Last week's edition broke down strong early-season performances from Lazaro Montes, Felnin Celesten, Thomas White, Ryan Waldschmidt, Nolan McLean, Braylon Payne, Brandon Young and Manuel Rodriguez. Without further delay, let's dive in. JJ Wetherholt, SS, Cardinals The seventh-overall selection in the 2024 MLB Draft, Wetherholt managed to snap out of an ice-cold 0-for-14 start to the season at Double-A Springfield with five-multi-hit performances over his last six contests. The 22-year-old shortstop tallied three hits, including his first round-tripper of the season, on Wednesday evening, raising his full-season slash line to a robust .342/.429/.512 through 10 contests. JJ Wetherholt (MLB No. 21) swats an oppo 🌮 for his first Double-A homer! The @Cardinals' 2024 first-rounder is slashing .480/.517/.720 over his past six contests for the @Sgf_Cardinals. Wetherholt rarely strikes out, thanks an opposite field-oriented line-drive approach that's primarily geared towards driving the ball into the gaps. Just because he isn't hitting for over-the-fence power doesn't mean he's making weak contact as evidenced by a stratospheric 105.3 mph 90th percentile exit velocity last year in his pro debut at Low-A Palm Beach. It doesn't sound like the prototypical fantasy superstar recipe, but his combination of fantasy-relevant skills, which include above-average bat-to-ball ability and plus speed, make it easy to envision him as a strong batting average and steals source as a top-of-the-order sparkplug in St. Louis. He'll ascend to top-15 range dynasty prospect status in Rotoworld's next rankings update. Ryan Sloan, SP, Mariners Sloan was one of the handful of pitchers Baseball America's staff highlighted during spring training that generated a ton of buzz from scouts on the Arizona backfield. The 19-year-old right-hander was an over-slot second-round selection in the 2024 MLB Draft and is quickly blossoming into one of the top pitching prospects in baseball from a fantasy standpoint, thanks to his front-of-the-rotation starter kit. He looked un-hittable on Wednesday in his latest outing for Low-A Modesto, recording seven strikeouts over 3 2/3 innings, thanks to a mid-90's heater and a hard-biting slider combination. That offspeed stuff from @Mariners 2024 second-rounder Ryan Sloan 😯 3.2 IP | 2 H | 1 R | 1 BB | 7 K The top-ranked prep righty in last year's Draft class dominates in his second pro start for the Single-A @ModestoNuts: Seattle's track record of success developing homegrown talent in recent years provides further optimism that Sloan could become their next success story as he moves quickly through their system over the next few months. The fact that he's a pitcher amplifies the risk in his fantasy profile, but the stuff has looked borderline elite so far. He was a known commodity for dynasty managers entering spring training but isn't quite a household name yet outside of long-term formats. That's about to change, especially if he reaches the upper minors by the end of the year. He's the type of prospect that dynasty managers should prioritize targeting in trade discussions before his value skyrockets out of control. Josue De Paula, OF, Dodgers De Paula and teammate Zyhir Hope entered the year as borderline top-20 prospects from a dynasty perspective and they've done nothing to dampen enthusiasm with their respective early-season performances for High-A Great Lakes. The 19-year-old prodigy remains a work in progress, especially from a defensive standpoint, but he's hitting .243 (9-for-37) with six extra-base hits and two steals through 10 games this season. He launched his second round-tripper of the season on Wednesday night, crushing a gargantuan grand slam to right field. Josue De Paula (MLB No. 37) GRAND SLAM! Six of the @Dodgers prospect's nine knocks for the High-A @greatlakesloons this season have gone for extra bases. He's an extremely advanced hitter from a plate skills perspective considering his age and experience, which is one of the reasons dynasty managers can confidently forecast him taking a leap forward as he continues to mature physically. It seems strange to suggest that a 19-year-old bat-first corner outfield prospect is a high-floor fantasy prospect, but that's basically what we're looking at here. He'll be one of the youngest players in the Texas League once he reaches Double-A in a couple months, if not sooner. He's going to hit and has a real shot to arrive in the majors in a couple hyperspace jumps as a fully-formed five-category impact contributor. Robby Snelling, SP, Marlins Snelling's dynasty stock cratered in recent years when his command took a massive step backwards upon reaching Double-A when he was still a member of the Padres' system. The 21-year-old southpaw, who is still relatively raw as a pitcher relative to his peers, turned things around after being shipped to Miami at last year's trade deadline, providing further evidence that development isn't linear. He's gotten off to a phenomenal start this season at Double-A Pensacola, compiling a sparkling 2.20 ERA, 0.98 WHIP and 20/2 K/BB ratio across 16 1/3 innings (three starts). He He's the type of pitching prospect that figures to rise significantly in dynasty rankings over the next few months if his control gains stick and he continues missing bats in the upper minors. Jesús Made, SS, Brewers Spoiler alert: Made will be making frequent appearances in this space over the next few months as he continues to ascend to elite dynasty prospect status. He's making serious early-season noise at Low-A Carolina, hitting .400 (8-for-20) with five extra-base hits and three steals over his last five games since April 11. Jesus Made looks right at home in Carolina, putting up a .412 OBP / .571 SLG / .983 OPS slash line with 5 XBH and 4 SB in his first 7 affiliated games 💪#ThisIsMyCrew It's not hyperbolic to suggest that he could be the top-overall prospect in the dynasty landscape at this time next year. The 17-year-old switch-hitting phenom's preternatural ability to hit for power without sacrificing anything from an approach standpoint at such a young age against competition nearly a presidential term older than him almost defies explanation. The usual long-term risk caveats apply to any prospect this far from the big leagues, but he's backing up the stratospheric hype and looks like a potential generational talent. Seriously.
Yahoo
22-02-2025
- Sport
- Yahoo
Cavaliers rout Knicks by 37, turning up volume on questions about Knicks' postseason chances
The New York Knicks are one of the top teams in the East (and the NBA): 37-19 with a +5.1 net rating that is sixth best in the league. They have the third-best offense in the NBA and had two All-Star Game starters and likely All-NBA players in Jalen Brunson and Karl-Anthony Towns. However, the gap between New York and the two teams above them in the East — Cleveland and Boston — looked Grand Canyon-sized on Friday night when the Cavaliers routed the Knicks 142-105. New York is now 0-4 against the two teams above them in the East, with the average loss by 23.25 points. The Knicks didn't have an answer for it, as these postgame quotes via Stephon Bondy of the New York Post show. "You can't explain it," Jalen Brunson said. "I'm at a loss for words really." "Yeah, from the start, I mean, we didn't set the tone," backup guard Miles McBride said. "Dunks, in the paint points, kick-out 3s, pick-and-pop 3s. You name it, they did it to us. "I think every guy on their team, whether they're coming off the bench or starting, every guy is a threat. And they play that way. So it's hard to go against them when anybody can break off and go score or they find a mismatch they like and they attack and they're playing the right way and kicking out." It leads to a simple question: Do they stand a chance when the Knicks run into the Celtics in the second round of the playoffs (as things are setting up)? There's another test of that Sunday when New York travels to Boston to take on a hot Celtics team. New York's problem is defense, and that was evident on Friday. The Knicks are 18th in the league in defense (114.1 defensive rating), which is not the sign of a contender, but in the last 10 games that defense has gotten worse with a 119.3 net rating. Knicks fans are holding out hope that the return of wing OG Anunoby and soon after center Mitchel Robinson can turn the defense into something respectable, but that's a big ask. The Knicks' big stars, who have to play heavy minutes, are not great defenders. Brunson is gritty, but he is generously listed as 6'2", and his size limits his effectiveness in some matchups. Towns has never been a great rim protector in the paint. The simple truth is that these Knicks may have a ceiling. Cleveland exposed it again on Friday night. The biggest news from this game could be that Cavaliers center Jarrett Allen had to leave the game with a hand injury that could keep him out for a while. Coach Kenny Atkinson said postgame that the X-rays were negative, but an MRI on Saturday will show more. Being without half of their dominant frontline for a stretch of time would be rough, but the 46-10 Cavaliers have built a cushion. They have a six-game lead over the second-seed Celtics.
