Latest news with #Levis
New York Times
39 minutes ago
- Business
- New York Times
Cambodia Agrees to a Reduced Tariff and Breathes a Sigh of Relief
The United States and Cambodia agreed on Friday to a trade deal that sets a 19 percent tariff on Cambodian goods, easing the concerns of a developing country that had been spooked for months by one of the steepest tariffs initially announced by the Trump administration. Cambodia is a key manufacturer in the global garment and footwear industry, making apparel and sneakers for brands such as the Gap, Levi's and Nike. While much of the focus on the U.S. trade talks in Southeast Asia has been on bigger economies such as Vietnam and Indonesia, Cambodia was arguably facing the biggest hit from U.S. tariffs, more so than any other country in the region. When President Trump announced his 'liberation day' tariffs on April 2, Cambodia was hit with a 49 percent tariff, the highest of any nation in Southeast Asia. This was a big blow to a poor country that was heavily exposed to the United States, Cambodia's single largest export market. In 2024, U.S. exports made up around 37 percent of its total exports, and a whopping 25 percent of its gross domestic product. The initial 49 percent tariff stunned the country's garment manufacturers and its million garment workers, who feared job losses and worsening labor conditions. In an interview, the country's deputy prime minister, Sun Chanthol, said a 19 percent tariff meant that the United States had slashed the rate by 61 percent, which he says is the largest reduction in terms of percentage given to any country. 'I'm going to express our appreciation to President Trump and to the U.S.,' said Mr. Sun Chanthol, who has led multiple rounds of negotiations with the United States. Want all of The Times? Subscribe.
Yahoo
6 hours ago
- Entertainment
- Yahoo
Beyoncé's Levi's jeans ad pulled into Sydney Sweeney backlash
A Beyoncé ad for Levi's jeans is being compared to Sydney Sweeney's controversial American Eagle campaign, but other social media users argue the two are far from similar. "Euphoria" star Sweeney is facing backlash as the face of American Eagle's newest campaign. The denim ad and its tagline 'Sydney Sweeney has great jeans' drew sharp criticism online with some users accusing the brand of promoting eugenics. In a campaign video, Sweeney lies in a full denim ensemble as she leans into wordplay: "Genes are passed down from parents to offspring, often determining traits like hair color, personality and even eye color. My jeans are blue." The camera then shows Sweeney's blue eyes before a message reads, "Sydney Sweeney has great jeans." The criticism wasn't about the denim itself, but the language used. Social media users argued the phrase 'great genes' paired with a blond-haired, blue-eyed star echoed eugenic ideas — the discredited belief in improving humanity through selective breeding. Some also argued it contributed to the glorification of whiteness. Eventually, Beyoncé's recent Levi's campaign, where she poses in a similar position in a denim-on-demin outfit with blond hair, was dragged into the discourse. One user wrote, "So Beyoncé can pose in Levi jeans and it's art… But when a white woman does it, it's a national crisis?" as she shared a photo of the two ads side-by-side. However, many were quick to point out the differences between the two. Another said, "Just going to leave this pic form Beyoncé Levi's campaign right here for those saying Sydney Sweeney with her blond hair/denim/sultry look is racist..." A user responded, "No one said that, what was said though was that the ad's inference that blonde hair and blue eyes are superior." The Grammy-winning singer announced her collaboration with Levi's last fall. She has since released multiple campaigns with the denim powerhouse. But she has never alluded to genes or genetics, focusing solely on the quality and design of the jeans themselves. One social media user, @dukepege, takes this notion a step deeper: "At what point will it be fully understood that proclaiming or implying 'my genes (jeans) are better' is frightening to any race who's ancestors for long generations have had to suffer at the hands of the very same race of people with the same kind of thinking — that their genes are superior?" He added, "No, such statements are not benign; they are echoes of a violent and dehumanizing history and the fact that you involve Beyoncé explains very well how you're still unable to comprehend what's being felt." The conversation comes after Beyoncé was baselessly pulled into another controversy when President Donald Trump accused her of being paid $11 million to endorse Kamala Harris' presidential bid — a payment the the Federal Election Commission has no record of. The Grammy-winning singer concluded her Cowboy Carter and the Rodeo Chitlin' Circuit Tour in Las Vegas on July 26. The 32-stop stadium tour became the highest grossing country tour, earning over $400 million. Follow Caché McClay, the USA TODAY Network's Beyoncé Knowles-Carter reporter, on Instagram, TikTok and X as @cachemcclay. This article originally appeared on Nashville Tennessean: Beyoncé's Levi's jeans ad pulled into Sydney Sweeney backlash
Daily Mail
2 days ago
- Sport
- Daily Mail
NFL quarterback Will Levis shares snap of injury that has put a stop to his 2025 season
NFL quarterback Will Levis has shared a picture of a gruesome shoulder injury that has ruled him out of the 2025 season, as he prepares to undergo surgery. The Titans revealed earlier this month that Levis will be out for the entirety of the upcoming campaign after the injury - a major blow to the franchise. The 26-year-old is set to undergo surgery on Tuesday and, ahead of the operation, offered fans an insight to the current state of his shoulder. On his Instagram story, Levis shared a photo of his swollen shoulder with the caption: 'Last night with this lil guy'. Levis also included a 'raised hands' emoji which appeared to represent his excitement at finally getting the injury resolved - even if it means missing the upcoming season. Earlier in the month, the Titans released a statement revealing the news that Levis would be ruled out for the entire 2025 campaign. A statement read:b'After consulting with doctors and his representatives, Will Levis has decided to undergo shoulder surgery that will sideline him for the entire 2025 season. 'We support his decision to focus on his long-term health. He approached the offseason with professionalism and showed clear growth as a leader. We remain confident in his full recovery.' Levis was set to fight for his role as starting QB against first-overall pick Cam Ward - but will now sit the rest of the season. Veteran backup Brandon Allen is set to take the QB2 spot while another career benchwarmer, Tim Boyle, is projected to slide up to QB3. After initially beginning the 2023 season on the bench, Levis replaced Ryan Tannehill for eight games in the middle of the campaign. Last year, Levis became the full-time starter for Tennessee, but did not put up the most impressive numbers. He finished with 2,091 yards - good for only 27th in the league. Levis even finished behind Jameis Winston, who only became the starter for the Cleveland Browns after Deshaun Watson went down with a season-ending injury. Additionally, Levis finished the season with a QBR of 27.8 - good for 32nd in the NFL. He also put up a rough TD-INT ratio of 13 to 12. Levis has missed five games in the 2025 season. First, he missed three games after injuring his AC joint in Week 3. Then, his poor performances led to him being benched for two weeks toward the end of the season. Now, Ward is set to get the start after a stellar season with the Miami Hurricanes in 2024. He is the first quarterback that the Titans have taken in the first round since they selected Marcus Mariota second overall in 2015. Ward is also the first first-overall pick that the franchise has had since the then-Houston Oilers took running back Earl Campbell in 1978.
Yahoo
4 days ago
- Business
- Yahoo
What To Expect From RE/MAX's (RMAX) Q2 Earnings
Real estate franchise company RE/MAX (NYSE:RMAX) will be announcing earnings results this Tuesday after market hours. Here's what to expect. RE/MAX beat analysts' revenue expectations by 1.3% last quarter, reporting revenues of $74.47 million, down 4.9% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts' EPS estimates but EBITDA guidance for next quarter missing analysts' expectations. It reported 146,126 agents, up 2% year on year. Is RE/MAX a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting RE/MAX's revenue to decline 6.2% year on year to $73.63 million, a further deceleration from the 4.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.35 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RE/MAX has missed Wall Street's revenue estimates four times over the last two years. Looking at RE/MAX's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hasbro's revenues decreased 1.5% year on year, beating analysts' expectations by 11.2%, and Levi's reported revenues up 6.4%, topping estimates by 5.8%. Hasbro traded down 3.3% following the results while Levi's was up 11.1%. Read our full analysis of Hasbro's results here and Levi's results here. There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 10.3% on average over the last month. RE/MAX is up 4.5% during the same time and is heading into earnings with an average analyst price target of $9 (compared to the current share price of $8.55). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
BBC News
23-07-2025
- Business
- BBC News
Trump tariffs: They made America's clothing. Now they are getting punished for it.
Already living from hand to mouth, millions of garment workers across Asia fear for their jobs as a deadline to strike a trade deal with the US - or face punishing tariffs - looms 9 July, following a 90-day pause on tariffs for countries to negotiate deals, the US president notified several countries in the region of new levies set to begin on 1 August. The new rates, while lower than those proposed in April, have done little to allay nations that received letters from Donald Trump were apparel hubs like Cambodia and Sri Lanka, which are heavily dependent on the US as an export market. The letters said that the two nations would face tariffs of 36% and 30% Levi's and Lululemon are among big-name US brands that have the bulk of their clothing made in these countries. "Can you imagine what will happen if [we] lose our jobs? I'm so worried, especially for my kids. They need food," says Nao Soklin, who works in a garment factory in southeastern Soklin and her husband Kok Taok make a living sewing bags for 10 hours a day. Together, they earn about $570 a month – barely enough to cover rent and provide for their two young sons and aged parents."[I want to] send a message to President Trump, to tell him to please lift the tariff on Cambodia... We need our jobs to support our families," she told the which has become a popular alternative to Chinese retailers because of its ready supply of low-wage labour, exported more than $3bn worth of apparel to the US last year, according to the Asean Statistics Division. The sector, which employs more than 900,000 people, makes up more than a tenth of the country's overall Sri Lanka, exports to the US helped the garment industry – which directly employs some 350,000 people – earn $1.9bn last year, making it the country's third-largest foreign exchange earner."If [30%] is the end number, Sri Lanka is in trouble because our competitors, such as Vietnam, have received lower tariffs," Yohan Lawrence, secretary general of Sri Lanka's Joint Apparel Association Forum, told the Reuters news agency. Last-ditch negotiations Sri Lankan authorities are hopeful of negotiating a further reduction to the tariffs but have not disclosed what they would consider an acceptable of its leaders have noted that the country has received the highest concession – of 14 percentage points – so far as a result of earlier negotiations. "We see this as the beginning of a very good situation," secretary to the Finance Minister Harshana Suriyapperuma said last which got a 13 percentage point concession, is also seeking further talks. "We are doing everything we can to protect the interests of investors and workers," said Deputy Prime Minister Sun Chanthol, who leads the negotiating team."We want the tariff to be zero... But we respect their decision and will continue trying to negotiate a lower rate," he said. Trump says the tariffs are needed to reduce the gap between the value of goods the US buys from other countries and those it sells to them."Our relationship has been, unfortunately, far from Reciprocal," the US leader wrote in letters to various countries last week, which he also posted on his Truth Social analysts tariffs overlook the benefits that the US enjoys from existing trade agreements, including lower-priced clothing and higher profits for US companies sourcing from countries like Sri Lanka or Cambodia, says Mark Anner, dean at Rutgers' School of Management and Labor decades, the US, European Union and Canada had in place a quota system that reserved a certain share of their markets for developing countries like Sri Lanka. The system, which was phased out in 2005, helped Sri Lanka's garment sector flourish despite stiff competition."For the US to now impose prohibitive tariffs that effectively shut these countries out of the market goes against the very development path it once prescribed," Prof Anner said. It is unrealistic to expect small, developing economies to not run a trade deficit with the US, says Sheng Lu, a professor at the University of Delaware's Department of Fashion and Apparel Studies."How many Boeing airplanes does Cambodia or Sri Lanka need and can afford to purchase each year?" he Prof Lu believes the strategic rivalry between the US and China is also a factor in trade talks, given how these garment-exporting countries are integrated into supply chains that rely heavily on Chinese now have to "strike a delicate balance" between maintaining economic ties with China while also meeting new US demands, which may include cutting the use of Chinese inputs in production, he says. Women bear the brunt Washington's tariffs add new pressures to familiar challenges in the industry: poverty and weak labour rights in Cambodia, and an ongoing economic crisis in Sri who make up seven in 10 of garment workers in the region, are set to bear the brunt of the tariffs. More downward pressure on their already chronically low wages mean their children could go hungry, while potential layoffs would be even more devastating. Surangi Sandya, who works in a factory in the Sri Lankan town of Nawalapitiya, says she feels an axe hanging over her."Companies don't work at a loss... If orders decrease, if there is a loss, there may be a possibility that the company will shut down," she says. Ms Sandya started out as a rank-and-file seamstress in 2011, then worked her way up to become the supervisor of a 70-women push comes to shove, some Cambodian workers say they will consider moving to Thailand to find jobs – even if they must do it illegally."Our livelihoods depend on the garment factory. We won't survive if our boss shuts it down," An Sopheak tells the BBC from her tiny 16 sq m room in Cambodia's capital Phnom Penh."We have little education. We can't find other jobs. We pray every day that President Trump will lift the tariff. Please think about us and our poor country."
