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News on Medial
Apple girds for more trade war pain, trims buyback
Economic Times
·
2m ago
Medial
Apple has reduced its share buyback program by $10 billion due to potential $900 million tariff-related costs amid the ongoing trade war, according to CEO Tim Cook. The company is adjusting its supply chain, increasingly sourcing products from India and Vietnam, while expanding its U.S. operations with significant capital expenditure. Despite these challenges, Apple reported better-than-expected quarterly revenue and profit. However, it forecasts a potential hit to gross margins in the coming quarter.
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Apple has had few incentives in the past to start making iPhones in US
Economic Times
·
1m ago
Medial
President Trump threatened a 25% tariff on iPhones unless Apple moves production to the US, amidst the trade war with China. Apple CEO Tim Cook responded by stating that most US iPhones would be sourced from India, projecting a cost of $900 million due to tariffs. Analysts speculate that moving production to the US could triple iPhone prices, significantly impacting sales. Apple aims to negotiate with Trump, while facing challenges from rising AI technologies and changing market dynamics.
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Major China-listed Apple suppliers including Luxshare, Goertek fall after Trump's tariff threats
Economic Times
·
1m ago
Medial
Major China-listed Apple suppliers, such as Luxshare, Goertek, and Lens Tech, experienced a sharp decline after U.S. President Donald Trump threatened to impose a 25% tariff on imported iPhones. This development was a result of Trump's warning on Friday to intensify the trade war with China. The potential levy on iPhones purchased by U.S. consumers caused significant market uncertainty for these suppliers.
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Trump threatens 25% tariffs on iPhones made outside the US | TechCrunch
TechCrunch
·
1m ago
Medial
President Trump threatened Apple with a 25% tariff on iPhones unless it moves production to the U.S. He expressed this demand on Truth Social, highlighting Apple's efforts to shift manufacturing to India amidst the U.S.-China trade war. Trump's remarks follow Foxconn's $1.5 billion investment in India. Tim Cook indicated many iPhones sold in the U.S. will originate from India. Trump has also pressured Walmart regarding tariff costs.
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Israel-Hamas Conflict: Indian Exporters May Face Higher Risk Premiums, Shipping Costs
OutlookIndia
·
1y ago
Medial
Indian exporters shipping goods to Israel may see an increase in insurance premiums and shipping costs due to the Israel-Hamas conflict. The conflict, which involved a surprise multifront attack by Hamas, may impact profits for Indian exporters. The Export Credit Guarantee Corporation of India may charge higher risk premiums for exports to Israel. While trade volumes may not be significantly affected at this stage, disruptions at major ports like Haifa, Ashdod, and Eilat could have a more serious impact. The duration and intensity of the war will determine the real impact on trade.
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Westbridge Capital trims stake in SaaS firm Freshworks by 2%
Economic Times
·
7m ago
Medial
Investment fund Westbridge Capital Management has sold 2% of its stake in Freshworks, a software-as-a-service company listed on Nasdaq. The investor sold 275,000 shares during the July-September quarter, leaving them with just over 4% stake worth $221 million. Freshworks recently laid off 13% of its workforce, around 660 employees, as part of a wider effort to streamline operations. The company also plans to conduct a $400 million share buyback program. Despite the layoffs, Freshworks experienced a 22% increase in total revenue to $186.6 million in the third quarter of 2023.
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Trump’s trade war risks splintering the Internet, experts warn
Arstechnica
·
1m ago
Medial
Experts warn that Donald Trump's trade war could splinter the Internet by threatening America's digital service exports, a vital trade advantage. A report by Allianz Trade suggests that a failure to adapt trade policies may harm Silicon Valley and the U.S. economy. Threats of digital service taxes from international partners could escalate tensions. Without a strategic pivot, the U.S. risks fragmenting global digital markets, increasing costs for tech companies, and diminishing its tech industry dominance.
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XYXX announces ESOP buyback program
Entrackr
·
1y ago
Medial
Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.
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Wary investors hope US-China talks cool high-stakes trade war
Economic Times
·
2m ago
Medial
Investors are cautiously optimistic about US-China trade talks aimed at cooling the ongoing trade war. While many do not expect a swift resolution, they hope for de-escalation. Recent tariffs have disrupted global trade and increased market volatility. Despite signs of potential progress, skepticism remains about achieving a "grand compromise." Recent US-China tensions and tariffs on imports continue to weigh on markets, though some investors express cautious optimism about long-term resolutions and economic resilience.
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Chinese exporters to US tread warily as tariff uncertainties linger
Economic Times
·
2m ago
Medial
Chinese exporters, like Deng Jinling of Lucky Bird Trade, cautiously welcomed the temporary 90-day tariff reprieve by the US while remaining uncertain about future trade relations. The unpredictable nature of the US-China trade war and potential policy changes, especially under President Trump, has left Chinese manufacturers seeking alternative markets and strategies, such as scouting for warehouses or expanding operations abroad, to mitigate risks. Despite the temporary tariff reductions, anxiety among exporters about post-pause scenarios remains high.
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Warren Buffett’s Berkshire Hathaway Trims Its Massive Stake in Apple
Livemint
·
1y ago
Medial
Berkshire Hathaway, led by Warren Buffett, sold around 1% of its stake in Apple during Q4 2023, leaving it with a 5.9% stake valued at $167 billion. This move comes as Apple faces various challenges, including regulatory scrutiny and declining sales. Berkshire also reduced its position in HP but increased its stakes in Chevron and Occidental Petroleum. Investors await Buffett's annual letter, scheduled to be released on February 24.
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