Latest news with #US-sourced
Time of India
20 hours ago
- Time of India
Las Vegas Police respond to reported shooting outside Bellagio Hotel
Police presence intensifies outside Bellagio Hotel after reports of shooting The Las Vegas Metropolitan Police Department responded early Monday, June 9, to reports of a shooting near the Bellagio fountains on the Las Vegas Strip. Authorities were seen gathering outside the popular hotel and casino following multiple social media posts alerting the public to a potential active shooter situation . According to preliminary reports, shots were heard in the area, prompting a swift and visible response from law enforcement and emergency services. Eyewitnesses shared video footage online showing numerous police units and first responders stationed along the Strip, specifically near the entrance of the Bellagio Hotel. Also read: Toronto police arrest 10 in interconnected shooting incidents; almost 90 per cent of crime guns seized US-sourced by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo One social media user noted, 'Active shooter situation on Las Vegas Strip. Heavy police and rescue on scene. Situation seems to be under control. No more shots fired.' While concerns of an active shooter circulated widely online, police have not confirmed the presence of an active assailant. — AZ_Intel_ (@AZ_Intel_) Live Events As of the most recent updates, there were no confirmed injuries related to the reported incident, and authorities have not issued details regarding any suspects. The scene remains under investigation, and law enforcement continues to assess the situation. The Bellagio Hotel, a major Las Vegas landmark known for its fountain displays and high foot traffic, was temporarily evacuated as a precautionary measure. Traffic in the immediate vicinity of the Strip was also impacted, as police worked to secure the area. Officials are urging the public to avoid the area until further notice and to rely on verified sources for accurate information. The Las Vegas Metropolitan Police Department is expected to release a formal statement as more details become available.
AU Financial Review
a day ago
- Business
- AU Financial Review
In Trump's world nothing is certain, not even taxes
Benjamin Franklin famously said, 'in this world nothing can be said to be certain, except death and taxes'. But recent events have reminded us that there is no certainty in taxes – and that's creating serious consequences for long-term asset allocation. Buried in US President Donald Trump's proposed 'big beautiful bill' is Section 899 which proposes several changes to the US tax code. It targets countries like Australia, that are judged to apply extraterritorial or discriminatory taxes, with new withholding taxes on US-sourced dividends, royalties and potentially some types of interest income.
Yahoo
29-05-2025
- Business
- Yahoo
Premix opens new manufacturing facility in North Carolina
Premix Group, an electrically conductive plastics manufacturer, has inaugurated its new manufacturing facility in Apple Creek, North Carolina, US. The development of the facility was backed by a $79m investment from the US Department of Health and Human Services. It is expected to strengthen the domestic supply chain for crucial diagnostics and other high-impact applications. The facility will utilise US-sourced raw materials to produce advanced polyethylene- (PE) and polypropylene (PP)-based compounds and concentrates. These materials are seen as key for extrusion and injection moulding applications, enabling accurate liquid level detection and providing protection against uncontrolled electrostatic discharges. Such features are essential in diagnostics, chemicals, electronics, industrial packaging, and other high-performance applications. The Apple Creek plant will offer the US market locally manufactured products with reduced lead times, a smaller carbon footprint, and better supply chain security. Premix Group CEO Jaakko Aho said: "These materials enable high-precision liquid level sensing in diagnostic testing, and safer handling, transport, and storage by protecting against uncontrolled electrostatic discharges (ESD) - a critical requirement in electronics, industrial packaging, diagnostics, and other high-performance applications. "Establishing a manufacturing presence in the United States is about more than production - it's about building resilient supply chains and trusted partnerships." This strategic move expands Premix's global presence, building upon its foundation as a family-owned business established in Finland in 1983. Premix has production facilities in both Finland and the US, offering material solutions designed to improve safety and operational efficiency. "Premix opens new manufacturing facility in North Carolina" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
15-05-2025
- Business
- Time of India
Walmart to raise prices amid tariff pressures despite strong Q1 sales performance
Walmart reported a dip in first-quarter profit on Thursday and said it will raise prices due to mounting tariff-related costs stemming from policies implemented by President Donald Trump. Tired of too many ads? go ad free now While the retail giant posted strong sales, it acknowledged growing challenges that could weigh on future performance. The company earned $4.45 billion, or 56 cents per share, for the quarter ended April 30, compared to $5.10 billion, or 63 cents per share, in the same quarter a year earlier. Adjusted earnings per share came in at 61 cents, surpassing analyst expectations of 58 cents, according to FactSet as reported by news agency AP. Revenue increased 2.5% year-over-year to $165.61 billion, slightly below Wall Street projections. Walmart's US comparable sales—which include physical stores and online platforms—rose 4.5%, down slightly from the 4.6% growth in the previous quarter and the 5.3% jump seen in the third quarter of 2024. Despite the sales gains, Walmart warned that tariff costs are forcing the company to reconsider its pricing strategy. 'We will do our best to keep our prices as low as possible,' Walmart CEO Doug McMillon told industry analysts. 'But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins.' McMillon noted that while price increases will appear gradually, they had already started in April and picked up pace in May. The company is particularly focused on managing costs for back-to-school merchandise. Tired of too many ads? go ad free now The Trump administration's trade policy has been a significant factor. Tariffs on Chinese goods, initially threatened at 145%, were reduced to 30% in a deal announced earlier this week. Some of those higher tariffs were also suspended for 90 days. As a result, importers who had paused shipments of goods such as shoes, toys, and clothing are now rushing to restock within the temporary reprieve. Still, higher shipping costs and continued uncertainty are prompting many retailers—including Walmart—to raise prices to offset tariff expenses. Although Walmart has built-in hedging strategies, it is not fully insulated. About two-thirds of its merchandise is US-sourced, primarily groceries, which account for around 60% of its domestic business. Nonetheless, general merchandise categories remain vulnerable due to global sourcing. McMillon said that while Walmart imports from many countries, China remains a significant supplier, particularly for categories like electronics and toys. Tariffs on imports from countries such as Costa Rica, Peru, and Colombia are also affecting prices of grocery items like bananas, avocados, coffee, and roses. According to McMillon, Walmart is absorbing some of those increased costs, especially within its general merchandise departments, and is working with suppliers to switch input materials—such as replacing aluminum (which is under tariff) with fiberglass in product components. "We have opened this year with a bang," McMillon added, praising the resilience of Walmart's suppliers and operations despite the volatile trade environment. Sales in the first quarter were fueled by demand in groceries and health and wellness items, though the company noted weaker sales in home and sporting goods. That softness was counterbalanced by stronger performance in toys, automotive products, and children's apparel. Global e-commerce sales climbed 22%, accelerating from 16% growth in the previous quarter. Shares of Walmart dropped 4% at the opening bell Thursday. As one of the first major retailers to release quarterly results, Walmart's performance offers early insight into consumer behaviour amid economic uncertainty and ongoing tariff changes. The company said it expects second-quarter sales growth between 3.5% and 4.5% but did not provide profit guidance due to the unpredictability of US trade policies. Other major retailers are also navigating the tariff landscape. Amazon, which reported strong Q1 sales and profits earlier this month, managed to stay ahead of the tariffs by importing goods before they took effect. CEO Andy Jassy noted that many third-party sellers on Amazon did the same.
Yahoo
09-05-2025
- Automotive
- Yahoo
Slate CEO: We've raised nearly $700M from backers like Bezos for US-built EVs
Electric vehicle startup Slate announced that the company isn't done raising funds. Slate, which counts backers like Jeff Bezos and Guggenheim's Mark Walter as investors, has closed out its Series A and Series B funding and is now looking at a Series C. Prior to Thursday's announcement, the company had reportedly raised around $110 million. 'We've gone through a couple rounds of funding,' Slate CEO Chris Barman said to Yahoo Finance. 'So Jeff Bezos was our lead in our first round, the Walter Group in our second round. We also have General Catalyst as an investor. And we've raised nearly $700 million.' That whopping figure hadn't been reported before. But when it comes to building an auto business from scratch, it's possible billions will be needed. But with no stamping operation needed (the company will use pre-fabricated composite parts for the body) nor a paint shop (all the composite parts are already slate gray), Barman believes it can accomplish its goals with less capital. The company announced it would house its assembly facility at the former LSC Communications printing plant in Warsaw, Ind., and aims to reach its 150,000-unit run rate by late 2027. Slate has said cars will be on the road starting in late 2026. Slate said it will be cash flow positive shortly after production, a tough ask when competitors like Rivian (RIVN) and Lucid (LCID) are barely gross profit positive. Building in America means tariffs won't be an issue, and the company believes it can keep its supply chain in the US as well. 'We were very focused through the process that we wanted to also source American parts,' Barman said. 'So we have a high number of US-sourced parts within the vehicle, so we'll be very insulated against that.' Slate said previously that its EV pickup, a bare-bones truck with a footprint smaller than a Ford (F) Maverick, will cost somewhere in the mid-$20,000 range and will come in only one color, slate gray. The EV offers two options on the choice of two battery sizes for the rear-wheel-drive truck: a 52.7-kWh battery pack targeting 150 miles of range and an 84.3-kWh pack with 240 miles of range. Slate's other appeal is to DIYers, who can add a massive number of custom parts, vinyl skins, and even a roof to make it an SUV and install them on their own. Buyers can also choose to do none of these things and have a cheap, utilitarian pickup. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
