Latest news with #KamilKrzaczynski
Yahoo
5 days ago
- Entertainment
- Yahoo
Chicago Sky Make Hailey Van Lith Move Before Wings Game
Chicago Sky Make Hailey Van Lith Move Before Wings Game originally appeared on Athlon Sports. The Chicago Sky emerged victorious on Thursday against the Dallas Wings for the first time in the 2025 WNBA season. The win snapped a four-game losing streak and gave the team a 1-4 record, taking them out of last place in the Eastern Conference. Advertisement Rookie guard Hailey Van Lith returned to the lineup on Thursday after missing the previous two games against the Los Angeles Sparks and Phoenix Mercury. She scored two points and added a steal and rebound in the win. Despite playing just under eight minutes against the Wings, Van Lith was downgraded to questionable once again for Saturday's contest in Dallas. Chicago Sky guard Hailey Van Lith (2).Kamil Krzaczynski-Imagn Images On Saturday, the team conducted a walk through practice on the court before their second game against the Wings in the two-game series. Van Lith was a participant in the workout, so many felt that she had a chance to play on Saturday. Fortunately, Van Lith, the No. 11 overall pick in the 2025 WNBA Draft, received a positive update in her injury status. She will be available when the Sky face off against the Wings on Saturday. Advertisement "Hailey Van Lith is AVAILABLE for tonight's game against the Dallas Wings," Sky reporter Karli Bell wrote. Van Lith is averaging 3.3 points and 2.0 assists per contest through the first three games of her WNBA career. She is shooting 30.0% from the floor and 66.7% from the free throw line in just over nine minutes per game. Chicago's game against Dallas tips off on Saturday evening at 8:00 p.m. EST. This will be the Sky's final game before the Commissioner's Cup begins in June. Related: DiJonai Carrington Had 8 Words for Paige Bueckers After Wings' Loss to Sky Related: Angel Reese's Decision During Chicago Sky's First Win Catches Attention This story was originally reported by Athlon Sports on May 31, 2025, where it first appeared.
IOL News
13-05-2025
- Business
- IOL News
A month on from Liberation Day, what do investors know for certain?
Trump's April 2 'Liberation Day' announcement saw duties being levies across the world with South Africa attracting around 30%. Image: Kamil Krzaczynski / AFP More than a month on from Trump's 'liberation day' tariffs, which caused shockwaves globally, the dust is settling, but analysts and investors are arguably no more comfortable due to the rate of change. Locally, South Africa was hit with a 30% tariff, higher than the 25% worst-case scenario anticipated by the SA Treasury. How significant is trade between South Africa and the US? South Africa makes up about 2.50% of US imports, yet the US is our second-largest trading partner, accounting for 8.80% of our total exports. In 2023, we exported $13 billion worth of goods to the US—roughly 2.10% of our GDP—with 98% of those exports coming from the mining and manufacturing sectors. Previously, the US collected almost no tariffs on South African goods, while we imposed about 7% on theirs. That dynamic has now shifted. The 30% tariff imposed by the US hits us hard, especially in key areas like aluminium and steel, which, though they only make up 0.30% of GDP, are central to ongoing trade talks. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Another major blow is the 25% tariff on vehicle imports, which affects local manufacturing jobs, particularly with the BMW X3, 97% of which are made here for the US market. These tariffs pose a real threat to vital sectors of our economy. Equity market investors must assess revenue exposure to the US Understanding revenue exposure to the US helps investors gauge potential risks from new US tariffs. Even markets where the US runs a trade surplus can face impacts if their listed companies rely heavily on US sales, such as the UK, where 27% of listed equity revenues come from the US. Which countries have the highest equity market revenue exposure to the US? Taiwan and Canada lead in revenue exposure among trade deficit countries, with 43% and 33% of their listed company revenues tied to the US, respectively. Taiwan's TSMC, a major microchip exporter, is a key contributor. Europe (excluding the UK) follows with 23% exposure. Quantifying potential risks from tariffs Making numerical sense of potential risks from tariffs is tricky. While revenue exposure offers clues about vulnerability, quantifying tariff risk is complex due to varying sentiment effects and secondary or tertiary impacts that go beyond direct trade data. How should investors approach market setbacks, especially in a volatile global trade environment? Short-term market setbacks are a normal part of the investment cycle and are often followed by periods of recovery. While each downturn may feel unique, these fluctuations are familiar patterns for long-term investors. Quality, long-term investment solutions will be aligned with global, high-quality active managers who are equipped to navigate both the risks and opportunities presented by changing global trade dynamics. Their expertise and flexibility help ensure that client portfolios remain resilient through various market conditions. Adriaan Pask, Chief Investment Officer, PSG Wealth Image: Supplied BUSINESS REPORT
IOL News
12-05-2025
- Automotive
- IOL News
The impact of Trump's tariffs on South Africa's automotive industry
Trump's April 2 'Liberation Day' announcement saw duties being levies across the world with South Africa attracting around 30%. Image: Kamil Krzaczynski / AFP US President Donald Trump's frightening import duties into that country are already pushing down sales of cars made locally for the export market and his moves effectively nullify benefits under the African Growth and Opportunity Act (AGOA). However, South Africans are nothing if not resourceful and are already planning how best to target alternative auto markets. The National Economic Development and Labour Council (Nedlac) provides figures that indicate that more than local 360,000 vehicles 'set sail' for more than 150 countries across the world in 2023. Of these, the best sellers were the Volkswagen Polo, followed by the Mercedes C-Class, the BMW X3, and then what it called a 'bakkie' tussle between the Ford Ranger and the Toyota Hilux, with the former winning out. Most locally produced vehicles for export go to Europe, where sales are already under threat due to that bloc's increasingly strict carbon emission requirements. Nedlac added that Isuzu and Nissan are also slowly making inroads into African markets. In 2024, however, exports dropped some 22.8%, which could be likely linked to the fact that 2023 was an all-time high, figures from NAAMSA (the Automotive Business Council) showed. Of South Africa's top export destinations in this sector, OEC noted that most vehicles produced in 2023 went to Germany, followed by the US, and then the UK. Now South Africa's exports to America are under threat, with Trump's sweeping tariffs already having an adverse impact. Smart Procurement stated that the South African automotive sector 'is particularly vulnerable' to tariffs. Its figures show that vehicles account for about a fifth of all exports to the US each year, amounting to about R33 billion annually. Trump's April 2 'Liberation Day' announcement saw duties being levies across the world with South Africa attracting around 30%. Although Trump walked back many of these taxes in the coming days and is in talks with several countries to negotiate better trade conditions, the local automotive industry has already been hit with a 25% export tax, and there could be more in the wings depending on which way the US President moves. Dr Paulina Mamogobo, the Automotive Business Council chief economist at NAAMSA said that US tariffs already had a rather pre-emptive impact on first quarter sales as exports to the US reduced from 6% in 2024 to 2% in the first three months of the year. Before the implementation of the new regulations, 99% of vehicles and automotive components from South Africa entered the US under the AGOA agreement, benefiting from duty-free treatment. Jenny Tala, director for Southern Africa at Germany Trade & Invest, said that the US' tariffs effectively nullify the benefits of AGOA, which poses a threat to South Africa's automotive manufacturing competitiveness. Tala said the solution is to diversify export markets by expanding regional and international trade relations. 'As we navigate shifting trade agreements, tariffs, and international relations, South African automotive businesses are actively seeking new partnerships and market opportunities," said Michael Dehn, MD at trade fair company Messe Frankfurt. Local companies are 'repositioning themselves within evolving trade frameworks' such as withing the African Continental Free Trade Area (AfCFTA) and other BRICS+ countries: Brazil, Russia, India, China among others, said Dehn. Mamogobo stated that the AfCFTA is a strategic response to many challenges, and it has opened up access to a $3.4 trillion economic market across 44 African countries by eliminating tariffs and boosting intra-regional trade. Yet, infrastructure gaps remain a significant challenge to fully realising this potential, she said. Ronel Oberholzer, head of sub-Saharan Africa Economics at S&P Global Market Intelligence, explained that the global automotive landscape is further complicated by China's oversupply of vehicles, especially EVs, potentially getting into African markets, creating direct competition for South African manufacturing, while India's low-cost advantage intensifies competitive pressures. As a result, she believes that BRICS countries may not be new markets so much as a source of further investments into Africa. IOL
Epoch Times
08-05-2025
- Business
- Epoch Times
US Jobless Claims Decline, Reinforcing Strength in Labor Market
The U.S. labor market is not signaling any signs of wider layoffs as the number of Americans filing for new applications for unemployment benefits declined last week, government data show. According to new figures from the This came in below the consensus forecast of 230,000. For the second consecutive week, the largest increases in initial jobless claims were centered in New York (15,418) and Massachusetts (3,301). Continuing jobless claims—a measure of individuals who continue to receive unemployment benefits—declined by 29,000 to a lower-than-expected 1.87 million. The previous week's number was adjusted lower to 1.9 million. The four-week average, which removes the week-to-week volatility, jumped by 1,000 to 227,000. Related Stories 5/2/2025 5/1/2025 Meanwhile, initial claims for unemployment benefits by former federal workers were little changed at 468. Continued jobless claims by former federal civilian employees rose by 82 to 6,716. Despite deteriorating business and consumer sentiment, the gloomy outlook has yet to appear in the hard data. Last week, the April jobs report showed that the U.S. economy added a better-than-expected 177,000 new jobs, and the unemployment rate was unchanged at 4.2 percent. Global outplacement firm Challenger, Gray, and Christmas reported a sharp 62 percent drop in layoffs in April from the previous month. However, market watchers say several forward-looking indicators signal softening in the jobs arena. In March, the number of job openings fell by 288,000 to a six-month low of 7.19 million. Additionally, the Federal Reserve's latest Beige Book report—a survey of business contacts in the U.S. central bank's 12 regional districts—revealed slowing hiring plans 'until there is more clarity on economic conditions.' Wages and Productivity New Bureau of Labor Statistics The headline reading came in higher than the market forecast of 5.1 percent. Hourly compensation advanced by 4.8 percent, up from 3.7 percent in the previous quarter. An increase in unit labor costs typically suggests that wages are growing faster than productivity, which can lead to price inflation as businesses would pass costs onto consumers. In the first three months of 2025, non-farm productivity fell for the first time in almost three years, by 0.8 percent. Output slipped 0.3 percent, but hours worked climbed by 0.6 percent. An employee works on an assembly line at startup Rivian Automotive's electric vehicle factory in Normal, Ill., on April 11, 2022. Kamil Krzaczynski/Reuters This was down from an upwardly adjusted 1.7 percent increase in the previous quarter. The decline was also worse than economists' expectations. Resilient Economic Data While economists' recession odds have increased in recent weeks, the numbers show that the country is still managing the tariff turbulence. 'We continue to see the hard data showing economic strength,' Gina Bolvin, president of Bolvin Wealth Management Group, said in a note emailed to The Epoch Times. 'The US economy continues to be incredibly resilient.' After the first quarter's import-driven 0.3 percent contraction, the Atlanta Federal Reserve Bank's widely watched GDPNow Model Following its May Fed policy meeting on May 7, the interest rate-setting Federal Open Market Committee (FOMC) highlighted that economic activity persists amid widespread uncertainty. 'Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated,' the FOMC Still, U.S. central bank officials fear a stagflation environment as 'the risks of higher unemployment and higher inflation have risen,' the FOMC said. Chris Zaccarelli, chief investment officer of Northlight Asset Management, says Wall Street will continue to worry about a recession until the White House announces more trade deals. 'The markets are going to increasingly worry about a recession, and unless some trade deals are made before the tariff pause runs out, we are going to see markets drop again like they did in early April,' Zaccarelli said in a note to The Epoch Times. In a Truth Social
IOL News
25-04-2025
- Business
- IOL News
White House says no decision yet on changing auto tariffs
Trump's imposition of sweeping tariffs since returning to the presidency this year, followed by partial rollbacks, have rocked financial markets. Image: Kamil Krzaczynski / AFP US President Donald Trump's administration has yet to make a final decision about adjusting tariffs on auto imports, the White House said Thursday, although it is considering "streamlining overlaps" between different types of duties. This week, the Financial Times reported that Trump was planning to exempt auto parts from tariffs on Chinese goods -- imposed over the country's alleged role in the fentanyl supply chain -- and those on steel and aluminum imports. But White House spokesman Kush Desai said: "No final decisions have been made by the White House on any potential changes to the auto tariffs." The levies on imported automobiles also impact car parts. The administration is examining "streamlining overlap" between 25 percent tariffs on imported autos and metals, as well as those imposed over illicit fentanyl, a White House official said. But the official did not provide further details. Trump's imposition of sweeping tariffs since returning to the presidency this year, followed by partial rollbacks, have rocked financial markets. Some businesses in sectors hardest-hit by especially high rates on China -- at an additional 145 percent on many products -- have also halted imports as they try to wait out the sharp duties. For now, business leaders have been working to change the president's mind. Automobiles have not been hit by Trump's "reciprocal tariffs" involving a 10 percent rate on goods from most trading partners, and an added 125 percent on many products from China. But they are still affected by sector-specific duties and those earlier slapped on Chinese imports this year over fentanyl. Asked who the president listens to when it comes to trade policy, US Treasury Secretary Scott Bessent told reporters Wednesday that apart from Trump's economic team, "he has a vast network including the business community."
