Author: arthursheikin@gmail.com

[ad_1] London CNN  —  Dozens of America’s trading partners are bracing themselves for August 1, the new deadline for punishing tariffs on goods they export to the United States. For months, countries have tried to negotiate trade deals with the US to avoid the so-called “reciprocal” tariffs President Donald Trump announced back in April. So far, only China, the United Kingdom and Vietnam have managed to clinch such agreements, and these vary in their scope and finality. On Monday, Trump cranked up the pressure, firing off letters to heads of 14 countries informing them of their new tariff rates –…

[ad_1] It might soon be harder to attend medical or law school due to President Donald Trump’s big spending bill.Trump signed his “big beautiful” tax and spending bill into law on July 4, codifying a slew of changes to the tax system, healthcare, and education. The law includes a major overhaul to the country’s education system, particularly to the way students take out and pay off their student loans.One specific student-loan change in the bill places new caps on the amount of loans students can borrow for graduate school, including medical and law school. Specifically, the bill eliminates the Grad…

[ad_1] South Korean beauty is having its moment, and one millennial is raking in big bucks from it.Kim Byung-Hoon, the 36-year-old chief executive of Seoul-based cosmetics company APR Corp., became the country’s newest billionaire. With a 31% stake in the company, the Bloomberg Billionaires Index on Monday listed Kim’s net worth as $1.3 billion.APR Corp. has numerous South Korean brands under its umbrella, including beauty brands Aprilskin and Forment, and supplements brand Glam.D Bio.Kim is a young leader with a strong social media presence. The CEO has more than 24,000 followers on Instagram, where he posts content regularly.The star of APR Corp.’s…

[ad_1] AP  —  Sean “Diddy” Combs has been acquitted of the most serious charges in his federal sex trafficking trial, but that doesn’t mean the once-celebrated music mogul will see his business empire restored. Combs, 55, who is one of the most influential figures in hip-hop history, was acquitted Wednesday of racketeering conspiracy and sex trafficking charges but convicted on prostitution offenses. Prosecutors painted a dark portrait of the mogul, with witnesses taking the stand to allege a pattern of violence and detail drug-fueled sex parties he reportedly called “freak-offs” or “hotel nights.” Combs was convicted of flying people around…

[ad_1] CNN  —  Tesla’s troubles go far beyond CEO Elon Musk’s recent dust-up with President Donald Trump, who accused the former “first buddy” of going “completely ‘off the rails’” in a social media slap fight over the weekend. But while the battles between Musk and Trump are getting all the attention, the outlook for Tesla’s revenue and bottom line have has gotten notably worse. And the company could even be back to losing money, for reasons unrelated to Musk’s personal politics. Musk was Trump’s largest financial supporter during the 2024 campaign, and was a mainstay at Mar-a-Lago and the White…

[ad_1] New York CNN  —  US stocks have rocketed back to all-time highs. The unemployment rate remains historically low. And the inflation rate is lower than when President Donald Trump took office. These developments could embolden the White House to play hardball on trade, taking a tougher stance in negotiations with other nations and threatening sky-high tariff rates. But those positive milestones might have a negative side effect: lulling Trump officials into believing the economy is safe from harm fueled by the president’s trade war. Many economists and trade experts worry the damage from the trade war has not been…

[ad_1] Samsung Electronics reported a worse-than-expected earnings projection for the second quarter, worrying investors about the company’s ability to compete in the chip war.On Tuesday, the South Korean memory chipmaker said it expected a 56% plunge in second-quarter profit compared with last year. The company estimated that its operating profit would be 4.6 trillion Korean won, or $3.37 billion.Samsung attributed the profit miss to US export curbs on advanced AI chips to China. The company reports full second-quarter earnings on July 31.Analysts have said that Samsung has been losing out to competitors because of factors other than the US export…

[ad_1] OpenAI has reportedly overhauled its security operations to protect against corporate espionage. According to the Financial Times, the company accelerated an existing security clampdown after Chinese startup DeepSeek released a competing model in January, with OpenAI alleging that DeepSeek improperly copied its models using “distillation” techniques. The beefed-up security includes “information tenting” policies that limit staff access to sensitive algorithms and new products. For example, during development of OpenAI’s o1 model, only verified team members who had been read into the project could discuss it in shared office spaces, according to the FT. And there’s more. OpenAI now isolates…

[ad_1] Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThis article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Tesla stock fell nearly 7 per cent yesterday after Elon Musk announced over the weekend that he will start a new US political party. The carmaker’s investors have demonstrated, quite clearly, that they are tired of the billionaire’s political antics. Musk either doesn’t…

[ad_1] CNN  —  President Donald Trump’s megabill is now a megalaw with wide-reaching implications for many Americans. Trump has touted that his tax and spending law will boost the economy and put more money in people’s pockets, especially for hourly workers. However, as is the case with most federal laws — especially one that’s nearly 900 pages long and peppered with plenty of eleventh-hour additions — the outcomes aren’t always that cut and dry. The law’s passage “happened overnight and on a holiday weekend,” said Nisha Verma, a partner in Dorsey & Whitney’s labor and employment practice. “This will change…