Latest news with #major announcement
Yahoo
5 days ago
- Business
- Yahoo
Trump calls in press for ‘major announcement' in Oval Office - but just spent 5 minutes bragging about his ‘wins'
An Oval Office event the White House billed as a 'major announcement on the economy' by President Donald Trump turned out to be nothing more than a sycophantic presentation by a partisan television commentator who'd brought charts to the White House touting the economic record of the president's first term. Reporters who were summoned to the president's workspace around 4:15 p.m. and were told Trump would be making a 'major announcement' ahead of his only scheduled public appearance of the day, an East Room ceremony to honor Purple Heart recipients. Instead, they were greeted by Trump standing alongside Stephen Moore, a right-wing television commentator and economist who the president had tried — and failed — to put on the Federal Reserve Board of Governors during his first term. Trump described Moore, whose nomination six years ago faced bipartisan opposition because economic experts — and senators — found him manifestly unqualified to serve on the Fed's board, as 'one of the most highly respected economists' and turned the floor over to him. Moore told reporters he'd called Trump to buck him up after he fired the head of the Bureau of Labor Statistics last week by showing him data purporting to prove that BLS 'overestimated job creation by 1.5 million jobs' during the final two years of former president Joe Biden's term. 'That's a gigantic error,' Moore said, at which point Trump chimed in to claim that the nonpartisan agency's revisions to previously released jobs data — a common practice when the bureau receives more updated information — was 'not an error' because it was meant to benefit Democrats by making Republican presidents such as himself look bad. 'You may well be right. But even if it wasn't purposefully, it's incompetence,' Moore said. Continuing, the Heritage Foundation economist went on to present a series of charts touting economic data from Trump's first term favorably compared to Biden's four years in office. In one such chart, he claimed Trump's prior administration 'gained 10 times more income for the average family than Joe Biden' over his first four years in the White House. The bizarre presentation came as the massive import taxes ordered by Trump as part of his effort to restore manufacturing across a broad range of industries took effect. The global tariffs, ranging from 10 to 50 percent, have ignited fear among consumers, companies, and investors about potential price hikes. Everyday items ranging from coffee to Toyotas, home furnishings to Gap jeans, are expected to become more expensive as companies adjust their prices to counteract the impact of tariffs. While the president has asked companies to absorb any increases in costs, many cannot forever. Even luxury items such as British-Indian Range Rovers, French wines or Swiss watches by Rolex and Omega are likely to face prices hikes as they navigate 10 percent, 15 percent, and 39 percent tariffs, respectively. While Trump wants tariffs to promote domestic production and purchasing, Americans will most likely bear the cost. Economic experts agree that sweeping tariffs on goods from countries could lead to supply chain issues, price spikes, or even inflation.
Yahoo
5 days ago
- Business
- Yahoo
Trump calls in press for ‘major announcement' in Oval Office - but just spent 5 minutes bragging about his ‘wins'
An Oval Office event the White House billed as a 'major announcement on the economy' by President Donald Trump turned out to be nothing more than a sycophantic presentation by a partisan television commentator who'd brought charts to the White House touting the economic record of the president's first term. Reporters who were summoned to the president's workspace around 4:15 p.m. and were told Trump would be making a 'major announcement' ahead of his only scheduled public appearance of the day, an East Room ceremony to honor Purple Heart recipients. Instead, they were greeted by Trump standing alongside Stephen Moore, a right-wing television commentator and economist who the president had tried — and failed — to put on the Federal Reserve Board of Governors during his first term. Trump described Moore, whose nomination six years ago faced bipartisan opposition because economic experts — and senators — found him manifestly unqualified to serve on the Fed's board, as 'one of the most highly respected economists' and turned the floor over to him. Moore told reporters he'd called Trump to buck him up after he fired the head of the Bureau of Labor Statistics last week by showing him data purporting to prove that BLS 'overestimated job creation by 1.5 million jobs' during the final two years of former president Joe Biden's term. 'That's a gigantic error,' Moore said, at which point Trump chimed in to claim that the nonpartisan agency's revisions to previously released jobs data — a common practice when the bureau receives more updated information — was 'not an error' because it was meant to benefit Democrats by making Republican presidents such as himself look bad. 'You may well be right. But even if it wasn't purposefully, it's incompetence,' Moore said. Continuing, the Heritage Foundation economist went on to present a series of charts touting economic data from Trump's first term favorably compared to Biden's four years in office. In one such chart, he claimed Trump's prior administration 'gained 10 times more income for the average family than Joe Biden' over his first four years in the White House. The bizarre presentation came as the massive import taxes ordered by Trump as part of his effort to restore manufacturing across a broad range of industries took effect. The global tariffs, ranging from 10 to 50 percent, have ignited fear among consumers, companies, and investors about potential price hikes. Everyday items ranging from coffee to Toyotas, home furnishings to Gap jeans, are expected to become more expensive as companies adjust their prices to counteract the impact of tariffs. While the president has asked companies to absorb any increases in costs, many cannot forever. Even luxury items such as British-Indian Range Rovers, French wines or Swiss watches by Rolex and Omega are likely to face prices hikes as they navigate 10 percent, 15 percent, and 39 percent tariffs, respectively. While Trump wants tariffs to promote domestic production and purchasing, Americans will most likely bear the cost. Economic experts agree that sweeping tariffs on goods from countries could lead to supply chain issues, price spikes, or even inflation.
Yahoo
29-07-2025
- Business
- Yahoo
Foxconn to suspend share trading on July 30 pending major announcement
TAIPEI (Reuters) -Foxconn, also known as Hon Hai Precision Industry, said it will suspend share trading on July 30 pending a major announcement. In Taiwan, companies typically halt trading ahead of announcements, including investments, asset sales and mergers or strategic partnerships, that could affect share prices. 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
Reuters
29-07-2025
- Business
- Reuters
Foxconn to suspend share trading on July 30 pending major announcement
TAIPEI, July 29 (Reuters) - Foxconn, also known as Hon Hai Precision Industry ( opens new tab, said it will suspend share trading on July 30 pending a major announcement. In Taiwan, companies typically halt trading ahead of announcements, including investments, asset sales and mergers or strategic partnerships, that could affect share prices.
Free Malaysia Today
14-07-2025
- Politics
- Free Malaysia Today
‘Stay tuned', Anwar teases on major announcement
Prime Minister Anwar Ibrahim uploaded a poster which said that an 'extraordinary gesture of appreciation for Malaysians' is 'coming soon'. PETALING JAYA : Prime Minister Anwar Ibrahim has hinted that a major announcement will be made in the coming days, while a PKR MP says a resolution has been reached involving judicial appointments and the chief justice's post. In a social media post, Anwar uploaded a poster which said that an 'extraordinary gesture of appreciation for Malaysians' is 'coming soon'. 'Stay tuned,' the prime minister said simply in his post. Separately, Segamat MP R Yuneswaran said he was made to understand that a resolution to the issue involving the judiciary has been reached and an official statement is expected in two to three days. 'Therefore, I urge all parties to stay calm and refrain from making speculations that could only worsen the situation,' he said on X. It is unclear if the announcement Anwar teased about is related to the decision involving the judiciary. Yuneswaran said he was confident that Anwar and the government were committed to ensuring the independence of the judiciary and to preventing the executive from interfering in the process of appointing judges. Subang MP Wong Chen also said on Facebook that an announcement would be made in a couple of days. He said he managed to speak at Anwar's meeting with PH MPs and raised all that he needed to bring up. 'I said what I needed to say, so wait for the news. There will be an announcement in a couple of days,' said the PKR MP. Earlier, government spokesman Fahmi Fadzil said PH MPs were briefed on the issue involving the judiciary, among others, in the meeting which lasted nearly two hours. Anwar, meanwhile, said the meeting went 'very well'. The prime minister had also met Barisan Nasional MPs on Friday night, which he said was to clear the air on several current issues, including taxation, the RON95 petrol subsidy, and matters involving the judiciary.
