Latest news with #O'Leary
The Hill
3 hours ago
- Business
- The Hill
O'Leary: Tariff rebate checks ‘a bad idea'
'Shark Tank' celebrity Kevin O'Leary said it was a 'bad idea' for Congress to consider tariff rebate checks, saying any money raised by higher tariffs should be used to reduce deficits and debt. 'What should be happening now with any extra income is to pay down the national debt,' O'Leary said during a Tuesday appearance on CNN's 'News Night with Abby Phillip.' 'That's the opportunity, because the greatest gift you can give to the future is to pay down the debt, which is just really, really big,' he added. GOP Sen. Josh Hawley (Mo.) introduced a Tuesday bill seeking to provide $600 tariff rebates to almost all Americans and to their dependent children. The funds would be distributed through direct payments, as previously authorized during the COVID-19 pandemic. Hawley and others who have discussed rebate checks connected to President Trump's tariff regime have suggested the money could help U.S. consumers dealing with higher prices. Tariffs raise costs for importers, and those costs generally take the form of higher prices unless companies fully swallow their costs. But the national debt is also skyrocketing, in part due to policies backed by Congress and Trump, who just signed tax legislation that extends a number of tax cuts that would add to the debt — depending on how one scores them. O'Leary suggested much remains unknown about Trump's tariffs and their impact on the economy ahead of an Aug. 1 deadline the president imposed for countries to reach deals with the U.S. 'We're still negotiating with these countries because we don't have deals with Mexico, no deals with Canada, India no deal. Europe looks like it's negotiating something here. But the real big momma is China,' O'Leary said. 'And we're just starting the dance with those guys. That's a big deal,' he added. Trump at the beginning of the week reached a deal with the European Union. 'No administration has ever tried to do all this at once. You get the headline number, but you don't have the details,' O'Leary added.
Yahoo
a day ago
- Business
- Yahoo
Kevin O'Leary Says The 'Tariff Drama' Is Settling And The Market's Calming Because Trump 'Found The Loophole'
Investor Kevin O'Leary, better known as 'Mr. Wonderful' from the 'Shark Tank' TV show, believes the U.S. market is stabilizing despite recent trade tensions because President Donald Trump has figured out a workaround on tariffs. Trump's Strategy: Tariffs As A Value-Added Tax Substitute 'This tariff drama? It's settling,' O'Leary wrote on X on Thursday. 'The market's calming because Trump found the loophole. He can't add a value-added tax like other countries, so he calls it a tariff and gets the same result.' Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics—now it's your turn to $100k+ in investable assets? – no cost, no obligation. O'Leary told Fox Business the same day that global markets are beginning to understand how Trump's reciprocal tariff system works. What they care about now is predictability. 'The market wants a headline number,' he said. 'What do you got, 10? You got 15? ... The rest of the stuff, that's sausage being made. Nobody gives a damn.' O'Leary pointed to General Motors (NYSE:GM) as an example of how U.S. companies are adapting. He said that GM reportedly lost 45% on margins due to tariffs, but the auto maker's finance chief, Paul Jacobson, laid out a plan: absorb one-third of the cost, pass one-third to consumers, and rely on artificial intelligence to cover the rest. He argued that while the U.S. cannot impose consumer taxes like those in Europe or Japan, Trump's use of tariffs acts as a substitute. 'Poof, 'Puff the Magic Dragon.' He's getting his dollars from tariffs the same way the Japanese, the Canadians are with value-added taxes.' Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Detroit Automakers Raise Red Flags However, not everyone is cheering. The American Automotive Policy Council, which represents Ford (NYSE:F), GM, and Stellantis (NYSE:STLA), is pushing back on a recent trade deal with Japan. The agreement would lower tariffs on Japanese auto imports to 15%, while imports from Canada and Mexico still face a 25% rate. 'Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers,' AAPC President Matt Blunt told Reuters on Wednesday. The criticism comes as GM announced a $1.1 billion hit from tariffs in the second quarter, with more expected. Stellantis reported $350 million in losses over the first half of the year tied to tariffs and said it had to reduce shipments and cut the concerns, the White House spokesman Kush Desai defended the Japan deal as 'a historic win for American automakers' that will remove long-standing trade barriers. But similar criticism was raised by AAPC over a U.K. deal that allows 100,000 British cars to enter the U.S. at a 10% tariff, nearly the entire volume Britain exported last year. For now, O'Leary said the market is showing signs of confidence, especially since the chaos seen in early April has subsided. 'Proof is in the pudding. Let's wait, you know, another quarter or whatever. So far, so good.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Kevin O'Leary Says The 'Tariff Drama' Is Settling And The Market's Calming Because Trump 'Found The Loophole' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Irish Post
2 days ago
- Business
- Irish Post
O'Leary discusses possible Ryanair replacement
MICHAEL O'Leary, the outspoken CEO of Ryanair, is setting his sights on the future for the airline—while also beginning to map out the path for his eventual succession. Now 64, O'Leary has no plans to leave in 2028 when his current contract ends, but he acknowledges that the final decision lies with Ryanair's board and shareholders. 'I have no desire to leave in 2028,' he said to the Irish Independent. O'Leary's target is to lead Ryanair to 300 million passengers annually by 2034, a goal tied closely to securing a major aircraft order from Boeing, Airbus, or possibly Chinese manufacturer Comac. Achieving that, he predicts, could see the airline delivering profits of €3–4 billion a year. While he remains committed to leading Ryanair toward that goal, succession planning is already well underway. He has name-checked four young leaders—all in their 30s and 40s—who he believes are well-placed to take over: Neil McMahon (operations), Jason McGuinness (commercial), Dara Brady (sales and marketing), and Tracey McCann (CFO of Ryanair DAC). These individuals, he said, are already driving much of the airline's day-to-day performance. O'Leary dismissed the idea of recruiting an external candidate from other major airlines, saying Ryanair's internal talent pool is far better suited to its unique business model. 'You can't exactly go to another airline like Aer Lingus, BA or Lufthansa — all of whom are much smaller than us — to find the next CEO of Ryanair.' He emphasised that any future CEO should compete for the role but acknowledged that internal candidates would hold an advantage. Ryanair's next generation of leadership, with an average age around 40, is already being groomed for the top roles, he said, underlining that the board annually reviews succession plans in case of any unexpected changes. Outside of airline matters, O'Leary remained as combative as ever. He ruled out a run for the Irish presidency, calling it an 'overpaid non-job,' and voiced frustration with the Irish government over airport passenger caps, housing, and transport policy. 'We're hampered by inexplicable government incompetence,' he said, pointing to stalled expansion plans at Dublin Airport and what he sees as political dithering. He also weighed in on the Airbnb debate, calling for aggressive taxation to free up local housing in tourist-heavy cities, noting, 'You can't service the visitors unless local people can afford accommodation.' After nearly four decades at the helm, O'Leary insists he still gets a 'kick' out of running the airline—albeit a different kind than when Ryanair was flying just a million passengers a year. Today, it flies over 660,000 daily. 'I'd like to see us grow to over a million passengers a day,' he said, and with his plans firmly in place, he just might stick around long enough to make it happen. See More: Michael O'Leary, Ryanair
RTÉ News
6 days ago
- Business
- RTÉ News
Irish-developed navigation system to be launched into space
A navigation system developed by an Irish company is to be launched into space tomorrow as part of a major satellite mission. Innalabs, which is based in Blanchardstown, Dublin, designed and manufactured the ARIETIS-NS navigation system. It will play a key role in the launch of Airbus' latest generation CO3D satellites, a high-profile collaboration between Airbus and the French Space Agency (CNES). The launch is scheduled for tomorrow aboard an Arianespace Vega-C rocket. The ARIETIS-NS system provides radiation-tolerant, high-precision inertial navigation, supporting the satellites' critical attitude control and mission stability functions. "Being part of this project marks a proud milestone for Innalabs and for Irish engineering in space," said John O'Leary, CEO of Innalabs. "We are honoured to contribute to this cutting-edge programme that is setting new standards in satellite performance and innovation," Mr O'Leary said. In May, Innalabs' gyroscope navigation system was launched into space as part of a mission to test and prepare planetary defences against incoming asteroids. In October 2024, Innalabs' the navigation system was launched on the ESA's Hera mission which was focussed on monitoring the after-effects of altering the trajectory of asteroids through kinetic impact.
Irish Independent
6 days ago
- Politics
- Irish Independent
Cllr Willliam O'Leary elected new chairperson of Northern Committee
Cllr O'Leary was elected the new chair of the Northern Committee following their recently monthly meeting. The Northern Committee is comprised of 15 councillors from the Kanturk/Mallow and Fermoy municipal districts. Cllr O'Leary succeeds Fianna Fáil councillor Ian Doyle who received lavish praise from his political colleagues for his professionalism during his tenure. Cllr Frank O'Flynn paid tribute to the outgoing chair. 'The meetings were very positive and very well organised. You were very fair and you gave everyone an opportunity.' Fine Gael councillor Tony O'Shea also thanked Cllr Ian Doyle for his contribution and professionalism throughout the year. He also wished Cllr O'Leary all the very best in the year ahead. Cllr O'Leary who is based in Rathcormac was nominated for the role of chair by Cllr Frank O'Flynn and Cllr Peter O'Donoghue. Cllr O'Flynn said Mr O'Leary is firmly 'embedded' in the local community and a man destined for greater things. 'William is a second time councillor in the area. He is a colleague of ours in the Fermoy MD. He is very well known in this area. He is very embedded in the local community and in the GAA with Bride Rovers who are synonymous with success. I think William is a man destined for greater things.' Independent councillor Peter O'Donoghue who seconded the nomination said William is a great representative for all the people in the Northern Division. 'He is widely respected by all political parties and by all Independents. He does Trojan work for the area. He is a fair and reasonable person. He would be the ideal candidate for chair of this division.' Cllr O'Leary was subsequently elected as chair for 2025-26 and he began his opening speech by thanking Cllr O'Flynn and Cllr O'Donoghue for the nomination. 'I want to congratulate the outgoing chair Ian Doyle and I want to wish him well in his year as deputy mayor. He is a very popular member of Cork County Council. 'I will keep the programme of work going,' said Cllr O'Leary. 'It is an important committee. We have our directorates coming in here and it is an opportunity to work with them. I might be a bit quieter up here than down there. I will try anyway.' Fianna Fáil councillor Nelius Cotter was elected as the new vice-chairperson of the Northern Committee. Cllr Frank O'Flynn who proposed Cllr Cotter for the role said he is very much stepped in farming organisations. 'He was a first-time candidate in the last election and he got elected in the Fermoy local electoral area. He is very much embedded in the community and especially in the farming organisations. He came up through the Fianna Fáil ranks.' Fianna Fáil councillor Ian Doyle seconded the nomination of Cllr Cotter. The new chairperson received warm and very supportive messages from all his political colleagues. Cllr Pat Hayes thanked Cllr Ian Doyle for his work over the last year before wishing Cllr O'Leary and Cllr Cotter the very best in their new roles for the coming year. Cllr Gearoid Murphy (Fianna Fáil) also offered warm congratulations to Cllr O'Leary: 'It is not an easy job. There are 15 of us in here. In terms of the population that we represent in the Northern Division, it is bigger than some county councils. Best of luck. You have great experience and I'm sure the next year will run smoothly.'
