Latest news with #trade tariffs
Yahoo
15 hours ago
- Automotive
- Yahoo
General Motors profit takes a tariffs tumble
General Motors has reported a sharp drop in profits as it took a $1.1bn hit in Q2 due to the impact of trade tariffs. It said the net impact reflected 'minimal mitigation offsets'. Net income was down by over a third on last year at $1.9bn, despite higher global unit sales (Q2 2025 1.54m; Q2 2024 1.43m). Quarterly revenues for GM were reported at $47.1bn versus $48bn in the same quarter last year. Adjusted EBIT was down to $3bn from $4.4bn in Q2 last year. Adjusted EBIT margin was down to 6.4% from 9.3% last year. Q2 GAAP operating profit was reported at $2.1bn versus $3.9bn last year. CEO Mary Barra said in a letter to shareholders that GM 'positioning the business for a profitable, long-term future as we adapt to new trade and tax policies, and a rapidly evolving tech landscape.' Barra highlighted $4 billion of new investment in GM's US assembly plants to add 300,000 units of capacity for high margin light-duty pickups, full-size SUVs and crossovers. 'The capacity begins coming online in just 18 months, after which we project building more than two million vehicles in the US each year as we scale,' she said. GM left its 2025 guidance unchanged and said the 2025 gross tariff impact is unchanged at $4-$5bn. However, it also said it is 'making solid progress to mitigate at least 30% of this impact through manufacturing adjustments, targeted cost initiatives, and consistent pricing.' "General Motors profit takes a tariffs tumble" was originally created and published by Just Auto, 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. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Bloomberg
20 hours ago
- Business
- Bloomberg
Nigeria Holds Key Rate to Sustain Disinflation, Gauge Risks
Nigeria's central bank kept its benchmark interest rate unchanged to ensure inflation continues to slow and to assess the impact of US trade tariffs on underlying price pressures. The monetary policy committee maintained the benchmark rate at 27.5%, Governor Olayemi Cardoso said during a briefing in the capital, Abuja, on Tuesday. That matched the prediction of all seven economists in a Bloomberg survey.
France 24
3 days ago
- Business
- France 24
Western aid cuts cede ground to China in Southeast Asia: study
The region is in an "uncertain moment", facing cuts in official development finance from the West as well as "especially punitive" US trade tariffs, the Sydney-based Lowy Institute said. "Declining Western aid risks ceding a greater role to China, though other Asian donors will also gain in importance," it said. Total official development finance to Southeast Asia -- including grants, low-rate loans and other loans -- grew "modestly" to US$29 billion in 2023, the annual report said. But US President Donald Trump has since halted about US$60 billion in development assistance -- most of the United States' overseas aid programme. Seven European countries -- including France and Germany -- and the European Union have announced US$17.2 billion in aid cuts to be implemented between 2025 and 2029, it said. And the United Kingdom has said it is reducing annual aid by US$7.6 billion, redirecting government money towards defence. Based on recent announcements, overall official development finance to Southeast Asia will fall by more than US$2 billion by 2026, the study projected. "These cuts will hit Southeast Asia hard," it said. "Poorer countries and social sector priorities such as health, education, and civil society support that rely on bilateral aid funding are likely to lose out the most." Higher-income countries already capture most of the region's official development finance, said the institute's Southeast Asia Aid Map report. Poorer countries such as East Timor, Cambodia, Laos and Myanmar are being left behind, creating a deepening divide that could undermine long-term stability, equity and resilience, it warned. Despite substantial economic development across most of Southeast Asia, around 86 million people still live on less than US$3.65 a day, it said. 'Global concern' "The centre of gravity in Southeast Asia's development finance landscape looks set to drift East, notably to Beijing but also Tokyo and Seoul," the study said. As trade ties with the United States have weakened, Southeast Asian countries' development options could shrink, it said, leaving them with less leverage to negotiate favourable terms with Beijing. "China's relative importance as a development actor in the region will rise as Western development support recedes," it said. Beijing's development finance to the region rose by US$1.6 billion to US$4.9 billion in 2023 -- mostly through big infrastructure projects such as rail links in Indonesia and Malaysia, the report said. At the same time, China's infrastructure commitments to Southeast Asia surged fourfold to almost US$10 billion, largely due to the revival of the Kyaukphyu Deep Sea Port project in Myanmar. By contrast, Western alternative infrastructure projects had failed to materialise in recent years, the study said. "Similarly, Western promises to support the region's clean energy transition have yet to translate into more projects on the ground -- of global concern given coal-dependent Southeast Asia is a major source of rapidly growing carbon emissions." © 2025 AFP
Bloomberg
5 days ago
- Business
- Bloomberg
Top Strategists See Trade Woes Curbing Gains for European Stocks
Investors may have to wait for 2026 to see further major gains in European stocks, as worries over damaging trade tariffs take hold in the coming months, according to strategists. The Stoxx Europe 600 Index is expected to end the year at around 554 points, according to the average of 18 strategists polled by Bloomberg, about 2% up from Wednesday's close.
Bloomberg
16-07-2025
- Business
- Bloomberg
China Earnings Pose Risks to Nascent Rebound in Onshore Stocks
China's corporate earnings growth likely slowed or was stagnant in the second quarter as the US ratcheted up trade tariffs, signaling that the latest results season may not offer much in terms of good news for stock investors. Profits at firms listed onshore probably grew at a slower pace than the 3.5% year-on-year growth seen in the first three months of 2025, according to China International Capital Corp., one of the country's biggest brokerages. Earnings estimates for CSI 300 Index members over the next 12 months are down more than 1% since March 31 after rising for two straight quarters, data compiled by Bloomberg show.
