Latest news with #TradePolicy
Yahoo
11 hours ago
- Business
- Yahoo
Stanley Black & Decker reports lower second-quarter profit over tariff uncertainty
(Reuters) -Power tools maker Stanley Black and Decker reported a fall in second-quarter profit on Tuesday, hurt by low demand amid price increases due to changing U.S. trade policy, sending its shares down nearly 7% in premarket trading. The Connecticut-based company also said it expects incremental tariff countermeasures in the second half of 2025. "We expect to continue strategically adjusting our costs and inventory to protect earnings power and cash flow," CFO Patrick Hallinan said. The company said the impact to 2025 per share profit was expected to be about $0.65, reflecting the timing and costs required to implement tariff mitigation countermeasures. Its gross annualized tariff impact is currently estimated to be about $800 million, which carries an assumption for country tariffs that include July U.S. policy changes. The company provides tools and industrial products to home improvement retailers, construction businesses and aerospace manufacturers. On an adjusted basis, it earned a profit of $1.08 per share in the second quarter, compared to $1.09 per share a year ago. It posted quarterly revenue of $3.95 billion in the reported quarter, compared to $4.02 billion a year ago. Analysts on average expected Stanley Black & Decker to report a quarterly revenue of $4 billion, according to data compiled by LSEG.
Bloomberg
4 days ago
- Business
- Bloomberg
Trump to Talk Trade With UK, EU in Scotland
"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests; Cornell University Tolani Senior Producer of Trade Policy Eswar Prasad, Bloomberg's Tyler Kendall and Riley Griffin. (Source: Bloomberg)
Yahoo
22-07-2025
- Business
- Yahoo
Invesco reports second-quarter loss hurt by buyback costs
(Reuters) -Asset manager Invesco swung to a second-quarter loss on Tuesday, as expenses related to share repurchases wiped out gains in investment management fees. Shares of the company fell marginally in premarket trading. Invesco's performance fees, earned when client returns meet agreed-upon expectations, also fell over 70% in the quarter, as total net inflows slumped to $15.2 billion, compared with $28.2 billion a year ago. WHY IT'S IMPORTANT The quarter saw bouts of record volatility as a tumultuous U.S. trade policy and geopolitical tensions fueled recessionary fears and battered investor confidence. This hurt Invesco's inflows and performance fees, as investors took a more cautious approach amid macroeconomic uncertainty. BY THE NUMBERS Invesco ended the quarter with a record $2 trillion in assets under management as of June 30, jumping 16.6% from a year ago, which boosted the corresponding investment management fees. Investment management fees rose 3.3% to $1.1 billion during the reported quarter. But a $159.3 million charge related to its preferred share repurchase program led to a loss of $12.5 million, or 3 cents per share, compared with a profit of $132.2 million, or 29 cents a year ago. CONTEXT Invesco, an independent investment management firm, provides retail and institutional solutions to clients across 120 countries. Larger rival BlackRock last week reported that its assets increased to a record high value in the second quarter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-07-2025
- Business
- Bloomberg
Japan's Stocks Cling to Gains After Election, Nuclear Tailwinds
Japanese shares rose but pared some of their initial gains in Tokyo as investors digested Prime Minister Shigeru Ishiba's loss in Sunday's upper house election. While the vote's outcome was in line with most investors' expectations, worries about future policy direction, particularly around government spending and trade, are weighing on sentiment.
Business Recorder
22-07-2025
- Business
- Business Recorder
Sugar price hike: NA panel to identify ‘beneficiaries'
ISLAMABAD: The National Assembly Standing Committee, headed by Jawed Hanif Khan, on Monday decided to investigate the reasons behind the exorbitant increase in sugar prices in the local market, its export and import patterns, and identify the actual beneficiaries of this cycle. 'The entire episode of the sugar crisis is suspicious. It must be investigated, and criminal proceedings should be initiated if any wrongdoing is found,' said Chairman Jawed Hanif Khan. The Committee also formed a sub-committee to probe the price surge, focusing on sugar exports followed by duty- and tax-free imports—measures allegedly designed to benefit certain actors. The chairman remarked that there appeared to be a nexus among politicians, bureaucrats, and the sugar industry. Members of the Standing Committee — both from the treasury and opposition benches —supported the formation of a special panel to scrutinize the entire sugar supply chain and its beneficiaries. Relevant ministries, organizations, and departments will be summoned for this purpose. PSMA agreed for ex-mill price of sugar at Rs165/kg, ministry says Commerce Ministry's team headed by Additional Secretary, Salman Mufti presented updated status of previous recommendations of the Standing Committee. During the meeting, the Ministry of Commerce presented an overview of its upcoming Trade Policy and the basis for its ambitious export target of $60 billion by 2029. The presentation was met with strong criticism, particularly from PML(N) MNA Shaista Pervaiz Malik, who questioned the feasibility of such a target in light of high energy costs and foreign exchange issues that have forced many industries to shut down. In response to a query by MNA Khurshid Ahmed Junejo, Director General (Trade Policy) Shafiq A. Shehzad admitted that the Commerce Ministry has never achieved its export targets. However, he noted that exports have increased by approximately $5 billion annually in recent years. He also highlighted key challenges such as limited export surplus, lack of competitiveness, and the effects of climate change. Shehzad emphasized that the government had decided to pursue an export-led growth strategy, acknowledging the risks but citing the success of other countries that had adopted similar policies. His views were echoed by the Chief Executive of the Trade Development Authority of Pakistan (TDAP), who shared future plans to boost exports. According to the Ministry of Commerce, Pakistan faces several hurdles in enhancing exports, including: (i) U.S. tariffs and their impact on Pakistani exports; (ii) disruptions in global trade; (iii) decline in domestic crop production (eg, cotton down 30%, maize and cotton 15.4%, rice 1.4%); (iv) slowdown in global commodity prices (eg, sesame seeds, rice), and (v) financial constraints due to limited export financing. Addressing concerns about the US tariffs, Joint Secretary (Tariff) Muhammad Ashfaq—who was part of the recent Pakistani delegation to Washington—said that tariff issues could potentially be resolved through negotiations. The Committee was also informed that Secretary Commerce Jawad Paul had returned from the U.S., where he had accompanied Finance Minister Senator Muhammad Aurangzeb in discussions with American trade representatives. Paul is currently briefing civil and military authorities at the Prime Minister's Office. On the issue of car imports, the Joint Secretary (Trade Policy) clarified that while the import of new cars is allowed—with Regulatory Duty (RD) reduced by 50% on high-value vehicles and by 33% on smaller ones—the government has no plans to allow the import of five-year-old used cars. He added that the Ministry of Industries and Production is working on a new auto policy, set to take effect from July 1, 2026, which will address quality and regulatory issues. Regarding the Trading Corporation of Pakistan (TCP), the Committee adopted recommendations of Sub-Committee headed by Khurshid Ahmed Junejo which include payments to TCP as per agreements between government entities. However, it did not support TCP's request for an exemption from the special audit of loans raised from banks, as the audit had been requested by the Finance Division. 'Since the Finance Division has demanded the special audit of TCP loans, this matter needs to be discussed with them. The Committee does not support an exemption,' said Chairman Jawed Hanif Khan. Copyright Business Recorder, 2025
