News.Life

ASX Spotlight: Top Performers This Week - Whitehawk, OzAurum, Argent Biopharma & Galana

Unknown business, commerce, economics, news, stocks

This material has been provided courtesy of BULLS N’ BEARS

<div>
 
 The brief rally known as the "dead cat bounce" has ended, and losses resumed as the Australian Securities Exchange (ASX) fell almost 3% this week. There was no relief from discussions surrounding U.S. President Donald Trump or his trade tariffs. On Wednesday, he declared his so-called "Liberation Day" tariffs. These new duties did not follow an expected complex calculation method; instead, they targeted all countries having a trade surplus with the U.S., imposing reciprocal taxes. As part of these measures, Australia faced a basic import tariff increase of 10%, equivalent to what we apply to goods coming into Australia from the U.S. However, China along with several Southeast Asian nations heavily dependent on American markets received even higher punitive tax rates in response.
 
 
 It appears that the beef sector may suffer the most in Australia. The United States is the top importer of Australian beef, with American buyers consuming $3 billion worth of high-quality products from them last year. Due to a trade embargo enacted in 2003 aimed at safeguarding the country’s livestock from the potential threat of bovine spongiform encephalopathy—commonly known as mad cow disease—Australia doesn’t import U.S. beef. This situation has been a point of contention for U.S. trade representatives for quite some time.
 
 
 The frenzy seen in the US might originate from other places — yet it still appears widespread.
 
 
 This week, lithium and energy stocks suffered the most significant losses, as an ongoing glut of lithium, concerns over tariffs, and OPEC increasing oil output wreaked havoc on these industries.
 
 
 Australia's leading hard rock lithium producer, Pilbara Minerals, lost over 25 percent of its market capitalization for the week as analysts expressed concerns about potential underestimations in their yearly production forecasts. This comes amidst ongoing negative sentiments towards lithium.
 
 
 The value of iron ore and lithium heavyweight Mineral Resources plummeted another 25% over the past week. The firm's stock price has fallen well beyond 80% from its peak levels recorded two years prior. This week brought additional challenges for both the corporation and its former billionaire leader, as their 'slightly profitable' lithium ventures edged closer to being merely sustainable. Moreover, founder Chris Ellison faced legal action from the company’s once-loyal investors through a class-action lawsuit.
 
 
 The legal action alleges that Ellison engaged in misleading and deceptive behavior as part of an extensive equipment and tax exploitation scheme lasting more than ten years in the British Virgin Islands. This misconduct led to a significant drop in the company's stock value upon revelation. The leading mining corporation has seen its market capitalization plummet significantly, falling beneath the $4 billion mark. Moreover, its substantial $5 billion debt appears to be increasing considerably.
 
 
 Should there be a silver lining from this week, it would be the surge in gold prices amid Trump’s tariffs and global uncertainties. The precious metal reached an unprecedented level, hitting $5050 per ounce at one point.
 
 
 As expected, this week’s Bulls N’ Bears ASX Runners of the Week list has fewer highlights than usual—though some positive signs emerged amid overall losses. A leading cybersecurity firm secured the top spot by a significant margin, while an intriguing lithium company received recognition amidst general turmoil within their industry.
 
 
 
 WHITEHAWK LTD (ASX: WHK)
 
 
 
 
 increased up to 300% (from 0.8 cents to 3.2 cents)
 
 
 
 This week’s Bulls N’ Bears ASX highlight goes to cybersecurity company WhiteHawk Limited, whose stock surged dramatically to reach an impressive peak of 3.2 cents on Wednesday—a significant jump of 300 percent from its closing value of 0.8 cents the previous week.
 
 
 Following the announcement of securing a significant position as the primary cybersecurity collaborator for an extensive $920 million USD ($1474 million AUD) contract from the U.S. government, the firm's stock value skyrocketed. This deal involves prominent players such as Knexus Research, Babel Street, and Dun & Bradstreet.
 
 
 WhiteHawk states that they will serve as the exclusive cybersecurity solutions provider, offering AI-driven tools to handle cyber threats within federal supply chain operations over a decade-long agreement. This partnership has the potential to generate significant ongoing income for the small-cap firm with continuous issuance of task orders.
 
 
 The agreement is supported by a White House executive order from 2025 and aims to simplify governmental purchasing processes, which could create additional chances for WhiteHawk to thrive.
 
 
 Given the scale of the agreement and WhiteHawk’s crucial position within it, investors seemed quick to buy shares following the news release on Tuesday morning.
 
 
 WhiteHawk saw a significant trading volume of $6 million for the week, with its market capitalization eventually stabilizing just above $12 million by Friday.
 
 
 WhiteHawk is providing its AI-driven solutions for managing cyber risks within the supply chain specifically for the U.S. government during an increasing worldwide focus on cybersecurity and tech advancements. The firm could secure numerous additional contracts due to being selected as a top-tier supplier for the U.S. government.
 
 
 
 OZR Resources Ltd (ASX: OZM)
 
 
 
 
 Increased by 94% (from 6.7 cents to 13 cents)
 
 
 
 OzAurum Resources took out second place on this week’s ASX Runners of the Week list after the gold junior’s share price peaked up 94 per cent to finish at 13c. Well over $7M of the company’s stock traded hands.
 
 
 On the very day when the gold price surged to an unprecedented peak, the firm released reverse circulation drilling findings from its Mulgabbie North gold venture located in Western Australia. Notable discoveries were made at their Cross Fault site, showcasing significant intersections such as 48 meters of ore yielding 1.66 grams per tonne (g/t) of gold starting right from the surface level, along with another segment measuring 12 meters averaging approximately 4.26 g/t of gold beginning at depths over 18 meters deep.
 
 
 OzAurum plans to immediately initiate a subsequent drilling campaign, which includes diamond core drilling, beginning early next week. In the near term, the company aims to increase its current gold resource of 260,000 ounces throughout its project area.
 
 
 The drilling campaign this week effectively verified the existence of high-quality gold mineralization across an extensive 400-meter stretch.
 
 
 It seems that OzAurum has uncovered a high-quality, sandstone-hosted find characterized by gold mineralization and widespread quartz veins, along with pyrite and arsenopyrite mineralization. The company reports encountering broad areas of sulfide minerals, which suggest the possibility of substantial gold deposits.
 
 
 Sandstones serve as a brittle host rock and are characteristic of the extensive gold deposits currently being extracted from the highly profitable 4-million-ounce Carasou Dam basin, located merely 2 kilometers away from Mulgabbie North.
 
 
 The firm thinks its latest cross-fault prospect lies on the Relief Shear approximately 2 kilometers south of the current 260,000-ounce Mulgabbie North mineral deposit along the same fault line.
 
 
 There are still seven reverse circulation holes covering 745 meters left to process in the assays. This leaves ample opportunity for shareholders eagerly awaiting gold assay results, even as the broader market remains unenthusiastic.
 
 
 
 ARGENT BIOPHARMA LTD (ASX: RGT)
 
 
 
 
 increased by 69% (from 16 cents to 27 cents)
 
 
 
 The third-place spot on the winners' podium is claimed by biotech firm Argent BioPharma Limited as they announced their leading product, the cannabinoid-based treatment CannEpil, has received approval for prescriptions in Germany through a specific access program.
 
 
 On Thursday, Argent's share price spiked, reaching as high as 27 cents—a 69 percent increase from last week's closing value of 16 cents per share. This dramatic rise occurred with only $110,000 worth of shares exchanged in an infrequently traded registry where ownership seldom shifts.
 
 
 Argent’s leading CannEpil treatment features an oral solution with a high concentration of CBD and a low level of THC, designed for patients battling a type of epilepsy that does not respond well to conventional medications.
 
 
 Cannabidiol (CBD) in cannabis is gaining recognition as a potential treatment for various medical issues, whereas tetrahydrocannabinol (THC) is the component known for causing psychoactive reactions.
 
 
 Argint mentions that approximately 816,000 individuals in Germany receive an epilepsy diagnosis each year, and a significant number of these patients will experience a form of the condition that does not respond well to medication. The company anticipates that CannEpil could provide transformative therapy for sufferers who currently lack effective options.
 
 
 By bolstering its position in Germany — a crucial pharmaceutical center — Argent has broken through a significant barrier to entering the highly prioritized European market.
 
 
 As more cannabinoid-derived medications gain worldwide recognition, Argent has achieved a significant milestone with its first cannabis-based treatment being acknowledged for its uses in the central nervous system. The firm appears optimistic that this success will not remain their only triumph in this field.
 
 
 
 Galan Lithium Ltd (ASX: GLN)
 
 
 
 
 increased by 45% (from 11°C to 16°C)
 
 
 
 This week's ASX Runners list highlights Galan Lithium, a company that stood out amidst the poor performance of the lithium sector due to its cost-effective Argentine lithium venture located within the prestigious Lithium Triangle.
 
 
 The firm covertly rejected a $150 million USD ($240 million AUD) cash bid from China’s Zhejiang Huayou Cobalt Co and France’s Renault Group for its Hombre Muerto West (HMW) and Candelas lithium brine ventures in Argentina, deeming the proposition as "opportune" and "underpriced."
 
 
 On Thursday morning, the rejection of the offer was concealed in an additional trading statement, where the firm’s stock price began the day without any change.
 
 
 The market swiftly caught on, causing Galan’s share price to surge almost 50% to reach as high as 16 cents per share, jumping from a market capitalization of $92 million the previous week to an intra-day peak of $134 million.
 
 
 This amount fell significantly below the suggested $240 million cash acquisition.
 
 
 The increase went against the wider trend of declining markets.
 
 
 The unexpected, conditional, and non-binding proposition put forth by battery materials heavyweight Zhejiang Huayou and electric vehicle manufacturer Renault marked the second such uninvited offer extended to Galan within less than 12 months.
 
 
 In August last year, Galan was approached with an unexpected, private, preliminary, non-committal offer from Energy Exploration Technologies to purchase their Argentine properties for $100 million in cash and stock. However, the company swiftly declined this proposition.
 
 
 Galan thinks that finalizing offtake and financing agreements for phase one of HMW should happen soon, which could result in a clearer and better acquisition outcome compared to the $240 million offer that was merely 2.6 times the company’s previous market value.
 
 
 Galan’s HMW and Candelas projects boast a substantial 9.5 million tonne lithium carbonate equivalent (LCE) resource with a high grade of 841 milligrams per liter (mg/L). The firm has progressed beyond half the journey toward achieving phase one production.
 
 
 The project lies approximately 100 kilometers south of Rio Tinto’s Rincon project, situated in Argentina’s notable Lithium Triangle. In 2022, when lithium prices were higher, this same area was purchased by the major mining company for slightly above $1 billion due to its substantial non-JORC 5.8 million tonnes of lithium carbonate equivalent (LCE) resources. Notably, Galan’s Hombre Muerto salt flat boasts lithium concentrations twice as high as those found at the Rincon site, measuring around 420 mg/L.
 
 
 Galan’s choice to hold off on production for its affordable lithium venture appears perplexing; however, the leadership is determined to negotiate a favorable deal for their extensive initiative—possibly when lithium prices rise or after they quickly secure both a buyer agreement and funding.
 
 
 Is your company listed on the ASX and involved in an intriguing project? Get in touch:
 mattbirney@bullsnbears.com.au
 
</div>

ASX Spotlight: Top Performers This Week - Whitehawk, OzAurum, Argent Biopharma & Galana

Unknown business, commerce, economics, news, stocks

This material has been provided courtesy of BULLS N’ BEARS The brief rally known as the "dead cat bounce" has ended, and losses resumed as the Australian Securities Exchange (ASX) fell almost 3%…

Agency Promoting Britain Abroad Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain — the national tourism board tasked with promoting the UK internationally — has undergone its own
 budget
 reduced by forty percent effective immediately.


 Last week, ministers informed the organization that their yearly budget would be reduced effective immediately, dropping from £18 million to £10.5 million for this year.


 Meanwhile, the government instructed VisitBritain to achieve a challenging new objective of attracting 50 million visitors to the UK by 2030, an increase from the earlier goal of 30 million.


 Nick de Bois, who chairs VisitBritain, has been informed that he will be losing his position as well.


 Critics argue that tourism plays a crucial role in boosting economic development - a fact acknowledged by the Chancellor.
 Rachel Reeves
 stating that being the government's primary focus.


 Government changes suggest that an ambitious new television campaign, which takes viewers on a four-minute cinematic journey through various British TV series and Hollywood blockbusters filmed in the UK, will probably be cancelled.


 Introduced with great excitement in January, it features scenes from
 James Bond
 , "Paddington" and "Notting Hill" as well
 Bridgerton
 ,
 House of the Dragon
 And Succession, where they shot the scene of Logan Roy's birthday celebration at Duns Castle in the Scottish Borders.

<img data-document-id="cms/api/amp/image/AA1CmXW8" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmXW8.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmXW9" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmXW9.jpg"/>

 Britain Promotions allocated £8 million from its budget for airing the advertisement across five regions during the first quarter of this year — specifically targeting audiences in the United States, France, Germany, the UAE, and Australia.


 Studies indicate that nine out of every ten prospective visitors from these areas, largely originating from the United States, plan to visit film and television sites as part of their journey to the UK.


 Mr De Bois argues that the budget reductions portend catastrophe for the 'Starring Great Britain' initiative.


 The ex-Tory MP stated: "This sudden move will result in withdrawing the campaign from several of our biggest and most significant source markets for incoming visitors."


 There should be no mistake; these sudden reductions represent a significant setback, impacting the UK’s capacity to attract international tourists and importantly, their expenditure.


 'Visitors from around the world contribute tens of billions of pounds to the UK economy when they shop at our stores, support our small enterprises, and dine at our restaurants and public houses.'


 Therefore, cutting our budget that is specifically aimed at drawing in these exact visitors would be akin to having your opening batsmen step onto the pitch with bats snapped in two, as a previous chancellor once aptly put it.


 Yesterday he informed the Mail on Sunday, "The £8 million allocated from January to March represents only a fraction—specifically one-quarter—of the total budget earmarked for the comprehensive yearly campaign across five crucial market segments."


 We will now narrow down the markets we invest in, thereby reaching significantly fewer people, and limit our spending for an entire year to just what was allocated in one quarter of last year.


 Mr de Bois previously applied for the role of chairman at the British Tourist Authority, known commercially as VisitBritain, where he has been serving since 2022.


 However, the Minister for Creative Industries, Arts, and Tourism, Sir Chris Bryant, has stated unequivocally that he won’t be serving a second term.

<img data-document-id="cms/api/amp/image/AA1CmVIH" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmVIH.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmVIJ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmVIJ.jpg"/>

 Once this position becomes available towards the end of October, it seems quite probable that a new chairperson with connections to the Labour Party will be chosen for the role.


 He stated, "My intention was to continue the efforts we've undertaken to foster growth within our country’s remarkable tourism industry. However, I felt let down by the minister's choice not to grant me another term; nonetheless, that decision falls squarely within their rights."


 'I believe it's crucial that VisitBritain receives the necessary resources to achieve its expansion goals, and I will dedicate my remaining time to ensuring this success.'


 The analysis indicates that if tourism to the UK were increasing at the same rate as in Western Europe, the sector would generate an extra £4.4 billion annually by 2030.


 A representative from VisitBritain stated: "These reductions occur when our projections indicate that the UK is beginning to lose its international competitiveness as a tourist destination, both on a global scale and compared to key Western European counterparts."

Read more

Agency Promoting Britain Abroad Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain — the national tourism board tasked with promoting the UK internationally — has undergone its own budget reduced by forty percent effective immediately. Last week, ministers informed…

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at adjusting lending criteria
 
 
 </li>
 <li class="class">
 
 EXPLORE FURTHER: The Barefoot Investor advises Australians to prepare for potential increases in living costs.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations, aiming to assist Australians in purchasing homes, arguing that it will merely inflate real estate costs.


 Scott Pape stated this following concerns raised by renter Penny who reached out asking about the suggestion that was backed by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently rent an apartment with my partner, who is also a teacher," she shared.


 We're putting in significant effort and cutting costs wherever possible, yet the notion of becoming homeowners seems out of reach.
 Melbourne
 It still seems unattainable.


 We don’t come from wealthy families with benefactors; my mother is a renter too, and my partner’s parents are still working on paying off their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who don’t have financial support from their parents. Does this policy change hold significance for folks like us, or is it merely election-season talk?'


 Mr. Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition regain power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn0tQ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn0tQ.jpg"/>

 Previously, the buffer was set at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor indicated that the buffer serves as a 'stress test'.


 "When applying for a mortgage, the bank verifies whether you can still manage the payments even if interest rates increase," he stated in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a "stress test"—designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 'He contends that reducing the buffer would enable first-time homebuyers to secure larger loans. This statement holds merit,' he noted.

<img data-document-id="cms/api/amp/image/AA1Cn593" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn593.jpg"/>

 However, consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they undoubtedly would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s plan is akin to coveting the final limp dim sim that has been lingering in the servo steamer since last Sunday.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a hazmat suit ready, a frozen roll of toilet paper available, and contact a plumber beforehand.


 When the statement was made, Mr. Sukkar indicated that there was an inherent prejudice supporting wealth passed down through generations.


 "At present, individuals in Australia who do not have access to the 'Bank of Mum and Dad' face higher lending expenses—even though their inherent risk might be the same or less," he stated.


 That represents a systematic preference for wealth passed down through generations. We aim to eliminate this bias.


 The Coalition will not tolerate a scenario where a generation of Australians lacks the same chances for homeownership as those from preceding generations.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at adjusting lending criteria EXPLORE FURTHER: The Barefoot Investor ad…

Finland Boosts Minimum Income Threshold for Extending Work Permits in India

Unknown economics, employment, employment law, workers, workforce

<img data-document-id="cms/api/amp/image/AA1CmYze" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmYze.jpg"/>

 On 1 January 2025, Finland raised the minimum income threshold for a residence permit for foreign workers to €1,600 per month. From April 2025 onwards, this requirement will also be applicable when applying for an extension of the permit through continued employment. This specified amount pertains to the individual's gross salary—the sum received prior to tax deductions and mandatory contributions.


 If foreign workers plan to work for a Finnish company or another entity based in Finland, they must apply for a residence permit. This permit, designed for employees, will be issued according to the specific sector of their profession. It’s important to note that one needs to secure a job offer beforehand to initiate the application process for this permit.


 At present, the lowest income threshold for an extended work permit for an employee stands at €1,430 monthly. Starting from April 2025, this will increase to a required salary of at least €1,600 each month. Should your earnings fall below €1,600 per month after that date, you won’t qualify for an extended work permit as an employee.


 If you applied for an extended work permit for an employee prior to 1 April 2025, and your request is unresolved as of 1 April 2025, without meeting the updated minimum earnings threshold, your employer might enhance the job conditions stated in the application and raise your wage to a minimum of €1,600 each month.


 You need to ensure that you have adequate income in Finland throughout the duration of your residence permit. To qualify for an extension of your work-based residence permit, you must maintain employment in Finland and keep up this sufficient income level during the entire validity period of your permit.


 Your combined monthly salary should be at least EUR 1,600. This can comprise multiple jobs, however, bonuses for working late shifts, nights, Saturdays, or Sundays do not count towards this amount.


 Your employer might contribute to your compensation through non-monetary perks like a company vehicle or housing allowances. These additional benefits should not surpass half of your basic salary. The value of these perks will be considered based on what they would incur in taxes.


 Should your employer possess an approved employer certification, you may simultaneously submit both your application for a D visa along with one for a residence permit. This particular D visa will enable you to enter Finland right away once your residence permit has been granted and the requisite visa sticker is affixed within your passport. Similarly, should your partner or dependents be filing their applications under familial grounds, they too would qualify for obtaining a D visa.


 You're not allowed to begin work until you obtain a residence permit for employment. This permit restricts you to working solely within the specific profession for which it was issued. However, you can hold multiple positions within that particular field.


 From 17 to 23 March 2025, 25.4% of the rulings concerning extended permits for workers were released within 14 days, 16.6% between 15 and 30 days, and 17.1% between 31 and 60 days following confirmation of an individual’s identification. Typically, favorable outcomes take around 51 days to be finalized on average.


 From the start of 2025 until now, a total of 2,672 requests for extending permits for employees have been filed. As of yet in this year, Finland has reviewed 2,100 such extension applications, out of which 1,824 were approved positively.

Finland Boosts Minimum Income Threshold for Extending Work Permits in India

Unknown economics, employment, employment law, workers, workforce

On 1 January 2025, Finland raised the minimum income threshold for a residence permit for foreign workers to €1,600 per month. From April 2025 onwards, this requirement will also be applicable when …

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria
 
 
 </li>
 <li class="class">
 
 READ MORE: Barefoot Investor advises Australians to prepare for potential increases in living costs.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that it will merely inflate real estate costs.


 Scott Pape made this assertion following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition party.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently live in a rented place with my boyfriend who is also a teacher," she mentioned.


 'We’re putting in a lot of effort and cutting costs wherever possible, but the dream of homeownership seems out of reach.'
 Melbourne
 It still seems unattainable.


 'We come from families without wealthy parents or guarantors – my mother is also a renter, and my partner’s parents are still paying off their own house.'


 'I was scrolling through property updates when I came across an article citing...the Liberal Party’s intentions to relax borrowing regulations to assist purchasers who don’t have financial support from their parents...is this relevant for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition regain power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn2UF" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn2UF.jpg"/>

 Earlier, the buffer stood at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer serves as a 'stress test'.


 "When you apply for a home loan, the bank verifies whether you can manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage the payments at 9 percent.'


 It's referred to as a 'stress test' — designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he penned.

<img data-document-id="cms/api/amp/image/AA1Cn2UI" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn2UI.jpg"/>

 However, consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more — which they surely would — and all that would accomplish is pushing house prices higher still.


 Sukkar’s strategy is akin to wanting the last withered dim sim that has been languishing in the servo steamer since last Sunday.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a Hazmat suit nearby, a frozen toilet paper roll ready, and a plumber on call.


 When the announcement was made, Mr Sukkar stated that there was an inherent bias towards accumulated inheritance.


 He stated, 'At present, those Aussies who can’t rely on the "Bank of Mum and Dad" face higher lending rates — despite their risks being the same or lesser.'


 'This is an inherent bias towards accumulated wealth. We aim to eliminate it.'


 The Coalition will not agree to a scenario where a generation of Australians lacks the same chances for homeownership as earlier generations had.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at tightening lending criteria READ MORE: Barefoot Investor advises Aus…

Britain's Global Promotion Agency Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain – the national tourism board tasked with promoting the UK internationally – has been handling this role.
 budget
 reduced by two-fifths effective immediately.


 Last week, ministers informed the organization that their yearly budget would be reduced immediately from £18 million to £10.5 million for the coming year.


 Meanwhile, the government instructed VisitBritain to achieve an ambitious new goal of attracting 50 million international visitors to the UK by 2030, surpassing the earlier objective of 30 million tourists.


 Nick de Bois, who chairs VisitBritain, has been informed that he will be losing his position as well.


 Critics argue that tourism plays a crucial role in boosting economic development – a fact acknowledged by the Chancellor.
 Rachel Reeves
 stating that being the government's main focus.


 The governmental changes suggest that a bold new television initiative—a four-minute film-style journey showcasing British TV series and major movies—is expected to be cancelled.


 Introduced with great excitement in January, it features scenes from
 James Bond
 , "Paddington" and "Notting Hill" as well
 Bridgerton
 ,
 House of the Dragon
 And Succession, where they shot the scene of Logan Roy's birthday party at Duns Castle in the Scottish Borders.

<img data-document-id="cms/api/amp/image/AA1Cn43s" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn43s.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmZmB" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmZmB.jpg"/>

 Britain Visited allocated £8 million from its budget for airing the advertisement across five regions during the first quarter of this year — namely, the United States, France, Germany, the UAE, and Australia.


 Studies indicate that nine out of every ten prospective tourists from these areas, largely hailing from the United States, visit the UK with the aim of exploring filming sites for movies and television series during their stay.


 Mr De Bois argues that the budget reductions signify doom for the 'Starring Great Britain' initiative.


 The ex-Tory parliamentarian stated: "This sudden effect signifies removing the campaign from several of our biggest and most significant source markets for incoming tourists."


 'There should be no question that these surprise reductions represent a significant setback, impacting the UK’s capacity to attract international tourists and, importantly, their expenditure.'


 'Tourists from abroad invest tens of billions of pounds in the UK, supporting our stores, local enterprises, eateries, and taverns.'


 'Thus, cutting down our budget which is specifically allocated for drawing in these exact visitors is akin to what a previous treasurer mentioned—sending your star players onto the field with bats snapped in two.'


 Yesterday he informed the Mail on Sunday, "The £8 million allocated from January to March represents only one-quarter of the total budget earmarked for an annual campaign across five crucial market segments."


 We will now narrow down the markets we invest in, thereby reaching significantly fewer people, and limit our spending for an entire year to what we allocated in just one quarter of last year.


 Mr de Bois previously applied for the role of chairman at the British Tourist Authority, known commercially as VisitBritain, where he has been serving since 2022.


 However, the Minister for Creative Industries, Arts, and Tourism, Sir Chris Bryant, has stated unequivocally that he won’t be serving a second term.

<img data-document-id="cms/api/amp/image/AA1CmXSO" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmXSO.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmVFs" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmVFs.jpg"/>

 If the position opens up as expected towards the end of October, it seems quite probable that a new chairman with ties to the Labour Party will be chosen for the role.


 He stated: "My aim was to keep pushing forward with the initiatives we've started to foster growth within our thriving tourism industry here in Britain. However, I felt let down when the minister decided against granting me another term; still, that decision falls within their rights."


 What matters most to me is ensuring that VisitBritain has the resources needed to achieve its expansion goals, and I will dedicate my remaining time to focusing on this accomplishment.


 The analysis indicates that if tourism to the UK were increasing at the same rate as in Western Europe, the sector would generate an extra £4.4 billion annually by 2030.


 A representative from VisitBritain commented, "These reductions occur when our projections indicate that the UK is beginning to lose its international competitiveness as a tourist destination, both on a global scale and compared to key Western European counterparts."

Read more

Britain's Global Promotion Agency Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain – the national tourism board tasked with promoting the UK internationally – has been handling this role. budget reduced by two-fifths effective immediately. Last week, ministers info…

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True' in Ireland

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses Coalition's housing proposal
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at adjusting lending criteria
 
 
 </li>
 <li class="class">
 
 READ MORE: Barefoot Investor advises Australians to prepare for potential cost-of-living challenges
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion from the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that this would merely lead to higher real estate costs.


 Scott Pape stated this following an inquiry from worried tenant Penny, who reached out regarding a proposition that was advocated for by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently live in rented accommodation with my partner who is also a teacher," she penned.


 We're putting in a lot of effort and cutting costs wherever possible, but the notion of becoming homeowners seems out of reach.
 Melbourne
 It still seems unattainable.


 We don't have wealthy parents or co-signers — my mother is also a renter, and my partner’s parents are still paying for their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who can’t rely on financial support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition gain power in the upcoming federal election.
 election
 .


 The Australian Prudential Regulation Authority, which serves as the financial watchdog, mandates that banks must assess home loan applicants based on their capacity to manage their mortgage payments considering both the prevailing interest rates along with an extra three percent.

<img data-document-id="cms/api/amp/image/AA1Cn7Iw" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn7Iw.jpg"/>

 Previously, the buffer stood at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer serves as a 'stress test'.


 "When applying for a mortgage, the bank verifies whether you can still manage the payments even if interest rates increase," he penned in his newspaper column.
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a "stress test" — designed to prevent individuals from taking on more debt than they can handle when (let’s face it, if) interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr Pape stated that Mr Sukkar had a different perspective.


 "He contends that reducing the initial deposit requirement would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1CnhpR" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CnhpR.jpg"/>

 But let's consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they certainly would – and all that would accomplish is pushing housing prices even higher.


 Sukkar’s plan is akin to eying the last limp dim sim that has been languishing in the servo steam cabinet since last weekend.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a Hazmat suit close at hand, a frozen pack of toilet paper ready, and a plumber on call.


 When the statement was made, Mr Sukkar indicated that there was an inherent prejudice supporting wealth passed down through generations.


 "At present, those Aussies who can’t rely on the 'Bank of Mum and Dad' face higher lending fees — despite the genuine risk being the same or perhaps even smaller," he stated.


 'This represents an inherent favoritism towards accumulated wealth passed down through generations. We aim to eliminate this.'


 The Coalition will not tolerate a scenario where a generation of Australians lacks the same chances for homeownership as those from earlier generations enjoyed.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True' in Ireland

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses Coalition's housing proposal Michael Sukkar aimed at adjusting lending criteria READ MORE: Barefoot Investor advises Australia…

Britain's Global Promotion Agency Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain – the national tourism board tasked with promoting the UK internationally – has been handling its
 budget
 reduced by two-fifths effective immediately.


 Last week, ministers informed the organization that their yearly budget would be reduced effective immediately, dropping from £18 million to £10.5 million for this year.


 Meanwhile, the government instructed VisitBritain to achieve a stringent new objective of attracting 50 million tourists to the UK by 2030, an increase from the earlier aim of 30 million visitors.


 Nick de Bois, who chairs VisitBritain, has also been informed that he will be losing his position.


 Critics argue that tourism plays a crucial role in boosting economic development - a fact acknowledged by the Chancellor.
 Rachel Reeves
 stating that being the government's main focus.


 Government changes suggest that an aspiring new television campaign, which takes viewers on a four-minute movie-like journey through various British TV series and big-screen productions, will probably be cancelled.


 Introduced with great excitement in January, it features scenes from
 James Bond
 , "Paddington" and "Notting Hill" as well
 Bridgerton
 ,
 House of the Dragon
 And Succession, where they shot the scene of Logan Roy's birthday celebration at Duns Castle in the Scottish Borders.

<img data-document-id="cms/api/amp/image/AA1CmXSn" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmXSn.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmZmk" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmZmk.jpg"/>

 Britain Tourism Board allocated £8 million from its budget for airing the advertisement across five regions during the first quarter of this year — specifically targeting audiences in the United States, France, Germany, the UAE, and Australia.


 Studies indicate that nine out of every ten prospective tourists from these areas, primarily hailing from the United States, visit the UK with the aim of exploring filming sites for movies and television series.


 Mr De Bois asserts that the budget reductions signify doom for the 'Starring Great Britain' initiative.


 The ex-Tory parliamentarian stated: "This sudden effect signifies withdrawing the campaign from several of our biggest and most lucrative source markets for incoming tourists."


 There should be no question that these sudden reductions pose a significant setback, impacting the UK’s capacity to attract international tourists and importantly, their expenditure.


 'Visitors from abroad contribute tens of billions of pounds to the UK economy, supporting our retail stores, local enterprises, eateries, and taverns.'


 'Thus, cutting our budget that is allocated specifically for drawing in these exact visitors is akin to what a previous treasurer mentioned—sending your lead cricket players to bat with their bats snapped in two.'


 Yesterday, he informed the Mail on Sunday, "The £8 million allocated from January to March accounted for only one-quarter of the total budget earmarked for an annual campaign across five crucial market segments."


 We will now narrow down the markets we invest in, thereby reaching significantly fewer people, and limit our spending for an entire year to just what was allocated in one quarter of last year.


 Mr de Bois previously applied for reappointment as chairman of the British Tourist Authority, known as VisitBritain, where he has been serving since 2022.


 However, the Minister for Creative Industries, Arts, and Tourism, Sir Chris Bryant, has stated unequivocally that he won’t be serving a second term.

<img data-document-id="cms/api/amp/image/AA1CmQwz" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmQwz.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmOem" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmOem.jpg"/>

 As the position opens up around late October, it seems quite probable that a new chairman with ties to the Labour Party will be chosen.


 He stated: "My aim was to continue the efforts we've undertaken to foster growth within our country’s remarkable tourism industry; however, I felt let down by the minister's choice not to grant me a second term. Nonetheless, that decision falls under their purview."


 'The key point for me is ensuring that VisitBritain has the necessary resources to achieve its expansion goals, and I will dedicate my remaining time to this objective.'


 The analysis indicates that if tourism to the UK were increasing at the same rate as in Western Europe, the sector would generate an extra £4.4 billion annually by the year 2030.


 A representative from VisitBritain stated: "These reductions occur when our projections indicate that the UK is beginning to lose its international competitiveness as a tourist destination, compared not only globally but also against key Western European counterparts."

Read more

Britain's Global Promotion Agency Faces 40% Budget Cut

Unknown budgets, economics, government, news, uk economy

VisitBritain – the national tourism board tasked with promoting the UK internationally – has been handling its budget reduced by two-fifths effective immediately. Last week, ministers informed th…

Barefoot Investor Debunks Home Loan Advice: Is It Too Good to Be True?

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria
 
 
 </li>
 <li class="class">
 
 EXPLORE FURTHER: Barefoot Investor advises Australians to prepare for potential cost-of-living challenges
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that it will merely push up real estate costs.


 Scott Pape stated this following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition party.
 housing minister
 Michael Sukkar.


 "I am 32 years old, working as a teacher, and currently living with my partner who is also a teacher," she penned down.


 'We’re putting in a lot of effort and cutting costs wherever possible, yet the dream of homeownership seems out of reach.'
 Melbourne
 It still seems unattainable.


 'We don’t come from wealthy families with benefactors – even my mother is a renter, and my partner’s folks are still working on their mortgage.'


 'I was scrolling through property updates when I came across an article citing ... the Liberals' proposals to relax borrowing regulations to assist purchasers who can’t rely on financial support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition assume power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn5jn" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn5jn.jpg"/>

 Previously, the buffer stood at 2.5 percent before it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer acts as a 'stress test'.


 "When applying for a housing loan, the bank assesses whether you can still manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a 'stress test' — designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, being a financial counselor, I believe this is a very wise policy that puts pressure on bankers.


 Mr Pape mentioned that Mr Sukkar had a different perspective.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1Cnf7T" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cnf7T.jpg"/>

 But consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they surely would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s plan is akin to eying the last limp dim sim that has been languishing in the servo steam cabinet since last Sunday.


 Penny, I understand you're hungry, but if you decide to go for whatever Sukkar is offering, ensure you've got a Hazmat suit ready, a frozen toilet paper roll, and a plumber on call.


 When the statement was made, Mr Sukkar mentioned that there is an inherent prejudice supporting wealth passed down through generations.


 "At present, those Aussies who can’t rely on the 'Bank of Mum and Dad' face tougher borrowing conditions — despite carrying equal or lesser risks," he stated.


 'There's an inherent bias supporting inherited wealth. We'll eliminate this.'


 The Coalition will not agree to a scenario where a generation of Australians lacks the same chances for homeownership as those from earlier generations enjoyed.

Read more

Barefoot Investor Debunks Home Loan Advice: Is It Too Good to Be True?

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal Michael Sukkar aimed at tightening lending criteria EXPLORE FURTHER: Barefoot Investor advise…

Trump's Tariffs Could Sting Singapore Firms, Survey Shows

Unknown business, commerce, economics, international trade, singapore

<img data-document-id="cms/api/amp/image/AA1Ckmqd" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Ckmqd.jpg"/>

 Approximately 45% of firms surveyed in Singapore intend to transfer the additional expenses stemming from new U.S. tariffs to their clients, according to a recent poll.


 The AmCham Singapore stated on April 2nd that other companies plan to counter this situation by broadening their supplier networks to minimize dependence on markets with heavy tariffs. Additionally, they aim to capitalize on chances to increase their market presence as rivals who are less quick to adjust lose ground.


 The quick poll revealed that over two-thirds of the 36 participants identified possible retaliatory tariffs on nations that impose taxes on U.S. imports as their primary worry regarding their businesses, rather than current trade policies.


 Almost seven out of ten (69%) stated they anticipate
 the new tariffs
 to exert a considerable or somewhat adverse effect on their operations.


 The survey results were released prior to the White House’s announcement on April 2, which outlined extensive reciprocal tariffs targeting America’s trade allies.


 Approximately 20% of those surveyed think these measures won't impact their business at all.


 Frank Debets, who leads customs and trade efforts for Asia-Pacific at PwC Singapore, did not agree with this view. He stated that it would be "unexpected" if businesses claiming no effect were completely protected from subsequent repercussions.


 For example, their suppliers and clients might face disruptions, impairing their capacity to purchase or supply goods and services, or they could become targets of reciprocal actions initiated elsewhere, he mentioned.


 The survey was carried out collaboratively by AmCham Singapore, BowerGroupAsia Singapore, and PwC Singapore.

Trump's Tariffs Could Sting Singapore Firms, Survey Shows

Unknown business, commerce, economics, international trade, singapore

Approximately 45% of firms surveyed in Singapore intend to transfer the additional expenses stemming from new U.S. tariffs to their clients, according to a recent poll. The AmCham Singapore stated …

Trump's Tariffs Could Send iPhone Prices SOARING

Unknown apple, economics, iphone, news, technology

<ul class="mol-bullets-with-font">
 <li class="">
 
 FURTHER READING: iPhone owners allege that Apple’s iOS 18.4 has DEGRADED their device batteries
 
 </li>
 <li class="class">
 
 PODCAST: Trump’s ‘Freedom Day’ Tariffs, along with an unexpected push for the death penalty in the Luigi Mangioni case. Tune into Welcome to MAGAland here.
 
 </li>
</ul>

 The cost of iPhones might increase threefold.
 Donald Trump
 Analysts stated today that the new tariffs have been introduced, as
 Apple
 Fans are contemplating a boycott of the company, which has witnessed its stock prices drop significantly.


 The price for a 256GB
 iPhone
 16 Pro might rise from $1,100 (£850) up to potentially $3,500 (£2,715), experts cautioned following the President's 'Freedom Day' clampdown.


 Many iPhones continue to be manufactured in
 China
 , which incurs a 54 percent tariff on U.S. exports – and Apple will now assess how much of the additional cost it can shoulder.


 However, technology enthusiasts are furious about the potential price increase, with several stating it’s high time to bid farewell to iPhones and welcome
 Samsung
 'One remarked it was Trump's clever move to promote.'
 Android
 Some suggested getting phones, while another recommended: "Simply purchase a Samsung; problem solved."


 It arrives as the UK's
 FTSE
 100 dropped to a one-year low this morning, even after Sir
 Keir Starmer
 proposing innovative initiatives to assist struggling manufacturers.


 Experts have cautioned that the extent of disturbance in worldwide financial markets ranks among the most severe experienced in recent decades. This morning, during early trade in London, the FTSE index fell roughly 5 percent as a sudden selling spree began immediately following market openings.


 The sense of panic spread throughout Europe, with
 Germany
 The DAX index recorded a decline of approximately 6.5 percent, and
 France
 The CAC 40 fell approximately 5.3 percent in early trading. Meanwhile, Asian equities saw broad declines, hitting fresh lows overnight.


 Currently, the production cost for the iPhone is expected to rise from $580 (£450) to $850 (£660), according to TechInsights analyst Wayne Lam.
 The Wall Street Journal
 .


 As many of these expenses are anticipated to be transferred to consumers, particularly in America, several Apple customers may now decide to part ways with the U.S. technology leader.


 Apple sells more than 220 million iPhones a year - and its biggest markets include the US, China and Europe. However, shares of the company closed down 9.3 per cent last Thursday, losing $311 billion in market value on their worst day since March 2020.

<img data-document-id="cms/api/amp/image/AA1CrneQ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CrneQ.jpg"/>
<img data-document-id="cms/api/amp/image/AA1Crusc" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Crusc.jpg"/>
<img data-document-id="cms/api/amp/image/AA1Cn4u7" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn4u7.jpg"/>

 The most affordable iPhone 16 hit the U.S. market priced at $799 (£619). However, according to estimates from Rosenblatt Securities' analysts, it might go up to $1,142 (£885) due to potential price hikes of around 43 percent – assuming Apple manages to implement these increases with customers.


 An upgraded version of the iPhone 16 Pro Max, featuring a 6.9-inch screen and one terabyte of storage space, now priced at $1,599 (£1,239), might retail for close to $2,300 (£1,782) should there be a price hike of approximately 43 percent for customers.


 This might also affect pricing in the UK if Apple chooses to raise the price by a similar margin in Britain—or it may opt to increment both the UK and US prices by a lesser degree.


 However, Angelo Zino, an equity analyst at CFRA Research, stated that the firm would struggle to transfer more than 5 to 10 percent of the costs to customers.


 He stated: "We anticipate that Apple will delay significant price increases for smartphones until this autumn, coinciding with the anticipated release of the iPhone 17, which is consistent with their usual approach to scheduled price adjustments."


 If prices increase for Apple products, it might provide South Korea’s Samsung with an advantage, since Samsung operates under lower tariff rates compared to Chinese manufacturers who produce all iPhones sold in the U.S.


 At present, the assembly costs about $30 in China; however, moving production to the United States would cause these expenses to increase roughly tenfold, as Mr. Lam pointed out.


 Apple did not respond to the Wall Street Journal’s inquiry regarding possible price adjustments due to the recently introduced tariffs. Nevertheless, if experts’ forecasts prove accurate, these new duties suggest that the expense of purchasing an iPhone could go up.


 Harry Mills, director at Oku Markets, told MailOnline: ‘Apple makes a healthy margin on iPhones, but with costs increasing by more than 50 per cent, consumers can surely expect a feedthrough straight to prices, with the top-spec iPhone 16 Pro Max possibly reaching $1,400 to $1,500.


 'British customers probably won’t see savings due to a weaker U.S. dollar since the technology company maintains uniform pricing at £999 or $999 for the iPhone 16 Pro and £1,999 or $1,999 for the iPhone 16 Pro Max. Those considering upgrading their devices should consider doing so promptly to avoid potentially facing a £300 increase.'


 Prem Raja, head of the trading floor at Currencies 4 You, said: ‘To mitigate such steep increases in its home market, Apple might adopt a global pricing strategy, distributing the additional costs across various regions.


 ‘This approach could lead to moderate price hikes in the UK and other countries, helping to maintain competitive pricing in the U.S.


 ‘Anticipation of these increases may prompt consumers to expedite their purchases, aiming to secure current prices before adjustments occur.


 'Nevertheless, substantial increases in prices might reduce demand gradually, posing a threat to Apple’s market standing. In response, the company may have to strike a careful balance between maintaining its customer base and controlling profit margins as they navigate through these issues caused by tariffs.'


 On social media, technology enthusiasts seemed prepared for the worst, as evidenced by a commenter who noted: "Apple users are about to experience what true inflation really feels like."


 Another quipped: "Trump contributing to making the iPhone 16e seem like a great bargain lol."


 Alarming for Apple, multiple previous customers have announced their decision not to pay the higher cost and are urging others to follow suit.


 On X, a commenter proposed: 'Cease purchasing iPhones?'


 'Another advised, "Stop purchasing these costly smartphones."'


 A commentator added their thoughts: "Skip this purchase. There's no necessity for it. It's merely an extravagance."


 One argued that the iPhone was never even worthwhile to start with.


 Likewise, a technology enthusiast commented: "I'm not sure why individuals invest so much in an iPhone. An Android phone would be a better choice."


 Those even considering purchasing an iPhone indicated that they would likely choose not to buy one immediately or opt to postpone upgrading to the latest model.


 A prospective Apple customer commented: "I was also considering getting one. I'll need to wait and observe how everything unfolds."


 'Nobody has to purchase a new iPhone annually,' added someone else.

<img data-document-id="cms/api/amp/image/AA1CrDGf" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CrDGf.jpg"/>

 President Trump asserts that his tariff policies will boost local manufacturing by raising the cost of imported goods.


 However, because Apple would still require imported raw materials for manufacturing its devices, experts indicate that there isn’t an economically viable method to produce iPhones within the United States.


 Mr. Crockett informed the Wall Street Journal that shifting iPhone manufacturing to America would be an enormous and monumental task.


 'It's uncertain whether you can produce a competitively priced smartphone here,' he informed the outlet.


 During his initial term as president, Mr. Trump introduced tariffs on numerous Chinese goods with the aim of compelling American businesses to relocate their production facilities either back to the United States or closer to home in places like Mexico. However, Apple managed to obtain exemptions or waivers for various items. In this instance, though, he hasn’t approved any such exceptions yet.


 'Barton Crockett, an analyst at Rosenblatt Securities, stated in a note that this entire situation with tariffs on Chinese goods is unfolding quite differently from what we anticipated—specifically, that American brand Apple would receive special treatment similar to what occurred previously,' he remarked.


 The iPhone 16e, introduced in February as an affordable option for accessing Apple’s range of AI functionalities, has a starting price of $599. If there were a 43 percent increase in prices, this model would soar to approximately $856. Other products from Apple might also experience similar price rises.


 A lot of customers finance their phones over a span of two to three years via agreements with their mobile service providers.

<img data-document-id="cms/api/amp/image/AA1Crsk7" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Crsk7.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CrDGm" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CrDGm.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CrnI4" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CrnI4.jpg"/>
<img data-document-id="cms/api/amp/image/AA1Crzo7" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Crzo7.jpg"/>

 Nevertheless, some experts pointed out that iPhone sales have struggled in the company’s key markets, since Apple Intelligence—a collection of tools designed to help condense notifications, compose email replies, and provide users with access to ChatGPT—has not managed to excite customers.


 Experts have indicated that although the features are cutting-edge, they fail to offer sufficient incentive for consumers to upgrade to more recent versions.


 The lack of growth in demand might add extra strain to Apple's profitability, particularly if expenses increase because of tariffs.


 Despite some manufacturing shifting to Vietnam and India, the majority of iPhones continue to be produced in China. Both these nations faced tariffs as well, with Vietnam experiencing a 46 percent duty and India facing a rate of 26 percent.


 To compensate for the additional tariffs imposed on imports, Apple would likely have to increase its prices by approximately 30 percent on average, as stated by Neil Shah, co-founder of Counterpoint Research.


 'Rosenblatt Securities' Crockett pointed out that our rapid calculation indicates these tariffs announced on Trump’s Tariff Liberation Day might significantly impact Apple, possibly resulting in losses of around $40 billion for the company. He also mentioned that talks involving Apple, China, and the White House seem probable.'


 'It's difficult for us to picture Trump destroying an American landmark... but this seems quite challenging.'


 The top bosses of tech companies in Silicon Valley rallied behind Donald Trump as he approached his electoral win, encouraged by his pledges to reduce regulations and tax rates.


 Jeff Bezos, chairperson of Amazon; Mark Zuckerberg, CEO of Meta; Tim Cook, head of Apple; and Sundar Pichai from Alphabet were present at Trump’s inaugural event in January, openly showing their support for the president.


 Both Meta and Amazon contributed $1 million each to President Donald Trump's inaugural festivities, with Apple CEO Tim Cook also donating an additional $1 million individually.

<img data-document-id="cms/api/amp/image/AA1Cn9uf" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn9uf.jpg"/>

 However, the affection has faded since Trump announced extensive tariffs last week, causing billions of dollars to be erased from the market value of technology companies' shares.


 Russ Shaw of Tech
 London
 Supporters mentioned, "It was initially an unusual friendship to start with, I believe it was driven by mutual opportunities on both ends."


 'Biden didn’t reach out to the tech giants, allowing Trump to capitalize on this. The harsh truth is now becoming clear.'


 Especially hard-hit by the aftermath was Apple.


 Trump imposed crushing tariffs not only on China, where the majority of Apple's iPhones are made, but also on countries such as Vietnam and India, where Cook has quietly moved parts of its production in recent years in anticipation of further Chinese tensions.


 In Vietnam, where Apple currently produces AirPods, iPads, and Apple Watches, the country experienced one of the most significant impacts, with a new tariff rate of 46 percent. Meanwhile, India faces a tariff rate of 26 percent.


 Trump's tariffs could lead to the price of an iPhone rising by up to 43 per cent, meaning the most expensive iPhone would cost $2300, up from $1599 today.


 Mr. Shaw commented, "This issue is especially severe for companies producing hardware such as Apple. They depend on global supply chains to manufacture devices like smartphones and PCs."


 Last week, Treasury Secretary Scott Bessent stated that a downturn in the markets indicated that investors were adjusting after several months of excessive enthusiasm for artificial intelligence and inflated technology stock prices. He referred to this as a 'Mag 7 issue, not a MAGA issue,' alluding to the group known as the 'Magnificent Seven' tech companies: Apple, Amazon, Tesla, Alphabet, Microsoft, Meta, and NVIDIA, which specializes in chips.


 On Liberation Day, Mr. Trump announced that international trade and economic policies had triggered a state of national emergency.

<img data-document-id="cms/api/amp/image/AA1Cn9uc" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn9uc.jpg"/>

 Every country will encounter a minimum of 10 percent tariffs on all imports from the United States beginning this Saturday.


 However, over 90 nations will face extra retaliatory tariffs aimed at rejuvenating America’s wealth by April 9.


 According to the White House, reciprocal tariffs represent the levels needed to counterbalance the trade imbalances between the United States and every one of its trading partners.


 Various nations such as China will face these tailored taxes, with the calculations made by the White House taking into account each country’s trade policies.


 Following Mr. Trump’s declaration of Liberation Day, Chinese President Xi Jinping announced that China would impose an extra 34 percent tariff on all goods imported from the United States.


 The fresh duty, set to begin on April 10, mirrors the 'reciprocal' 34 percent charge enforced by Trump. These additional duties will be added to the current tariffs that have been placed on American products.


 Craig Singleton, a senior China fellow at the Foundation for Defense of Democracies, stated to the Associated Press that although China’s new tariffs do not initiate an all-out trade war, they represent a significant intensification. These measures mirror each retaliatory move from Trump, indicating that President Xi Jinping will not remain passive amid such pressures.


 Before Wednesday’s announcement, Mr. Trump had previously imposed two sets of 10 percent import tariffs on China.


 Mr. Singleton cautioned, 'The more prolonged this situation gets, the tougher it becomes for both parties to ease tensions without suffering loss of prestige.'

Read more

Trump's Tariffs Could Send iPhone Prices SOARING

Unknown apple, economics, iphone, news, technology

FURTHER READING: iPhone owners allege that Apple’s iOS 18.4 has DEGRADED their device batteries PODCAST: Trump’s ‘Freedom Day’ Tariffs, along with an unexpected push for the deat…

Silver Lining Emerges as Malaysia Navigates US Tariffs

Unknown business, economics, government regulations, international economics, international trade

PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to various trade associations.
 
 
 The President of the Federation of Malaysian Manufacturers, Tan Sri Soh Thian Lai, stated that although the 24% tariff imposed on Malaysia is far from perfect, it offers certain strategic benefits when compared with neighboring countries.
 
 
 numerous ASEAN nations such as Vietnam, Cambodia, and Laos along with China are encountering substantially increased bilateral US tariffs, with some approaching twice the rate imposed on Malaysia.
 
 
 This change effectively flattens the competition landscape and places Malaysia in a more appealing position for exports, particularly for purchasers looking to move away from pricier nations.
 
 
 "We can leverage this competitive edge to grab a portion of the U.S. market in specific product segments," he stated upon being reached for comment.
 
 
 Although sectors such as semiconductors and pharmaceuticals are not subject to the tariff increase, Soh mentioned that other industries could still see advantages.
 
 
 They encompass items such as rubber gloves, electronic gadgets, packaged foods, aviation parts, furniture, and medical equipment.
 
 
 "These sectors are areas where Malaysia has demonstrated expertise, and where rival suppliers from China or Vietnam currently encounter increased tariff obstacles," he stated.
 
 
 Soh observed that Malaysia's robust manufacturing capabilities, varied supply chain network, and credible regulations could establish the country as a dependable alternative within global supply chains catering to the U.S. market.
 
 
 <img data-document-id="cms/api/amp/image/AA1CmYGY" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmYGY.jpg"/>
 
 
 The Associated Chinese Chambers of Commerce and Industry Malaysia Treasurer-General, Datuk Koong Lin Loong, stated that imposing elevated tariffs on other countries within the Southeast Asian region might result in substantial long-term benefits for Malaysia.
 
 
 The bright side we should focus on is the possibility of turning Malaysia into a key regional investment center.
 
 
 "Investors prefer putting their money here over countries like China and Vietnam, where they faced heavier tariffs," he stated.
 
 
 He mentioned that the country's attractiveness as an investment destination was enhanced because of its robust economy, consistent governmental policies, and capable workforce.
 
 
 These are key elements that investors take into account.
 
 
 “Although the US tariffs on the Philippines (17%) and Singapore (10%) are lower than Malaysia, investors may find policies in the Philippines not so conducive while Singapore may be too expensive for them to set up operations,” he said.
 
 
 Koong mentioned that the strengthening of the ringgit against the US dollar can be attributed to robust economic indicators within the country and the currency being considered undervalued.
 
 
 Given the imposed tariffs, fund managers view the currency’s potential.
 
 
 "Additionally, our stock market has stayed above the 1,500 level, unlike some others that experienced significant drops," he noted.
 
 
 The President of the SME Association of Malaysia, Chin Chee Seong, stated that these tariffs will affect certain areas but primarily target particular high-tech and premium petroleum goods rather than across all sectors like in various other nations within the Asia-Pacific area.
 
 
 Relative to several nations like Laos, Cambodia, Vietnam, and China, our situation remains comparatively more favorable.
 
 
 We primarily export advanced technology goods and premium petroleum products, constituting the major portion of our transactions with the United States; concurrently, we maintain a comparatively modest trade imbalance.
 
 
 "We are in a more favorable situation since items like semiconductors are not subject to tariffs. Therefore, we will probably face only a 10% tariff on most of our other exported goods," he stated when reached for comment.
 
 
 Chin observed that Malaysia was heading in the correct direction by avoiding retaliatory actions towards the United States and choosing instead to pursue a policy of friendly interaction.
 
 
 He thought that US President Donald Trump might experience another phase of tariff modifications because of the criticism he is receiving from various nations as well as within his own country.
 
 
 The co-chairman of the Asean-India Business Council, Nivas Ragavan, noted that Malaysia avoided increased tariffs thanks to its equitable trading relationship with the United States, especially in critical sectors like electrical and electronic products, medical equipment, and precise components which demand stringent compliance standards.
 
 
 "These sectors are closely intertwined with U.S. supply chains and follow international regulatory standards, which might have led the United States to apply a lesser tariff rate than other regional exporters who have distinct trade profiles," he explained.
 
 
 Nivas, who also serves as the vice-chairman of the Federation of Malaysian Businesses Association, stated that reducing tariffs for Malaysia would offer the country a stronger competitive edge.
 
 
 Many of our ASEAN neighbors now encounter higher expenses when exporting goods to the United States.
 
 
 "This might steer specific American purchasers and investors towards Malaysia, notably within areas such as manufacturing, electronics, and medical equipment," he stated.
 
 
 He mentioned that the nation could utilize its current free trade pacts and business-conducive atmosphere to draw in shifts in supply chains from nations with higher tariffs.
 
 
 "There's an opening here for Malaysian exporters to seize, innovate, and take over the space vacated by their regional rivals," he noted.
 
 
 As for the ringgit’s recent appreciation, Nivas said that this could be due to the volatility of the US economy due to inflationary pressure.
 
 
 "In the Malaysian context, persistent trade surpluses, higher commodity prices especially for palm oil and energy, along with a gradual rebound in local consumption, are bolstering faith in the ringgit," he further stated.
 
 
 The advisor of Bumiputera Retailers Organization Malaysia, Datuk Ameer Ali Mydin, stated that products brought in from nations facing increased tariffs might ultimately be sold in this country for less money.
 
 
 This is because companies in those impacted nations might produce more than needed domestically as a result of increased taxes on exports to the United States.
 
 
 "Nevertheless, we need to be cautious about avoiding dumping from these nations, which is currently occurring via e-commerce platforms and could impact our retail industry," he stated.

Silver Lining Emerges as Malaysia Navigates US Tariffs

Unknown business, economics, government regulations, international economics, international trade

PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to various trade associations. The President of the Federation …

DWP and HMRC Announce April Benefit Changes: One Payment Axed

Unknown economics, fiscal policy, money, personal finance saving spending, taxes

<img data-document-id="cms/api/amp/image/AA1CkeSM" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CkeSM.jpg"/>

 In April, financial matters take centre stage as the start of the new tax year arrives, bringing about higher bills alongside improved benefits provided by the Department for Work and Pensions.


 A new
 Ocean Finance
 A survey of 1,500 UK adults carried out in March 2025 revealed that an alarming 73% are worried about affording their basic expenses this spring. Additionally, one in four respondents (26%) reported feeling so overwhelmed by prospective cost increases that they avoid checking their account statements altogether.


 Fiona Peake, the consumer money specialist from
 Ocean Finance
 , has pointed out key dates in April concerning DWP, HMRC, and state pensions that might impact your financial situation.

<h3>
 Key April dates for DWP, HMRC, and state pensions
</h3>

 On April 1st, the National Living Wage is set to experience a substantial hike, as stated by Fiona: “A considerable number of employees will benefit from an increased salary starting this April due to the National Living Wage going up by 77 pence to reach £12.21 per hour for individuals who are 21 years old and above. Workers within the age group of 18 to 20 can expect a jump of £1.40, taking their rate to £10 per hour. Apprentices too will receive a raise of £1.15, setting their hourly wage at £7.55. Although such increments are positive news, they might be overshadowed by the continuous escalation in living expenses—particularly energy charges and municipal taxes.”

<img data-document-id="cms/api/amp/image/AA1CkqCl" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CkqCl.jpg"/>

 On April 1, families throughout the nation will also be preparing for an increase in Council Tax.


 Fiona cautioned, “On average, council tax bills are set to increase by nearly 5%. However, the precise hike depends on both your local authority and the specific property banding. Should you have concerns regarding your bill, use the government’s online service to verify your property banding and ensure accuracy in billing. Additionally, explore potential discounts or exemptions.”


 By April 1, water charges are scheduled to increase sharply.


 Fiona warned, “The water charges are set to increase by £27.40, making the typical yearly expense amount to £473. It’s advisable to verify whether installing a water meter might be more economical for you. Numerous water suppliers provide complimentary water-efficient gadgets; thus, take some time to explore what options they have that can assist in cutting down your water consumption and possibly decreasing your expenses.”


 The price for viewing TV will also increase starting April 1st.


 Fiona suggested: "Starting April 1st, the cost of your TV license will go up by £5 to £174.50. However, specific categories might be entitled to reductions. Individuals above 75 years old and claiming pension credit can obtain a complimentary TV license, whereas people with visual impairments can receive a 50% discount. Taking advantage of these TV licensing discounts could significantly lower expenses if you meet the criteria—don’t forget to apply for all applicable rebates."


 Drivers will also face tighter finances when vehicle taxes increase on April 1st.


 Fiona pointed out: "The road tax will go up by around £30 annually on average, even for those who own electric vehicles, as they too will see an increase in fees. It’s advisable to find out exactly how much extra you’ll have to fork out based on what kind of car you drive."


 The tax year concludes on April 5, as pointed out by Fiona regarding a crucial date for British financial matters. She explained, "April 5 signifies the last opportunity to utilize your ISA allowance. Regardless of whether you possess an individual or junior ISA, this presents a prime chance to enhance your savings without taxation ahead of the deadline."


 She subsequently warned of the approaching deadline forState Pension enhancements: “Should you lack some National Insurance contribution records, you may purchase additional years to increase yourstate pension. However, act quickly—the window closesafterApril 5th; post that date,you willonlybeabletotopupcontributionsforthe precedingsixyears.”


 Concerning alterations to tax credits, Fiona cautioned: “On April 5th, the current tax credit scheme will conclude, requiring those affected to transition to Universal Credit instead. Individuals failing to make this changeover will cease to receive their financial assistance. Ensure you reply to the notification sent out by the Department for Work and Pensions regarding your move. Should you have questions about how to proceed or require additional help, reach out to them directly.”


 Regarding companies, she highlighted an impending rise in expenses: "Starting April 6th, business owners will encounter higher National Insurance contributions, increasing from 13.8% to 15%. Additionally, the threshold for these payments will decrease, potentially impacting both enterprises and their staff members."


 Finally, Fiona had some uplifting information for senior residents: "There’s good news for retirees as state pensions will go up by 4.1% starting from 6 April, providing an additional £472 per year. This boost is part of the government's triple lock commitment, ensuring that pensions increase according to inflation rates, average earnings, or at least 2.5%, depending on which figure is greatest."


 On April 6th, the Help to Save Scheme will be broadened, just as Fiona detailed: “Starting from April 6th, the Help to Save programme will extend eligibility to encompass all working individuals receiving Universal Credit. The initiative enables participants to save money alongside earning an additional 50 pence for each pound saved, potentially offering a valuable opportunity for people with lower earnings to establish some financial security.”


 On April 7, the benefits system will receive an uplift, according to Fiona’s statement: “Benefit rates along with Universal Credit payments will go up by 1.7% starting from April 7. This enhancement will be seamlessly integrated into your payments, offering additional assistance to those facing the greatest challenges.”

DWP and HMRC Announce April Benefit Changes: One Payment Axed

Unknown economics, fiscal policy, money, personal finance saving spending, taxes

In April, financial matters take centre stage as the start of the new tax year arrives, bringing about higher bills alongside improved benefits provided by the Department for Work and Pensions. A n…

Why Trump's Tariffs Might Make Sports Gear from Asia Cost More for Americans

Unknown asia, commerce, economics, politics, sports

Hong Kong economists anticipate difficulties for U.S. consumers, considering brands such as Nike, Adidas, Under Armour, and Hoka produce their items in China or Southeast Asia.

 American consumers will experience higher costs for Asian-made sporting equipment following US President Donald Trump’s recent duties imposed on China and nearby countries, according to predictions from Hong Kong specialists on Friday.


 The United States imposed new tariffs on Wednesday that primarily affected China along with multiple Southeast Asian countries deeply engaged in producing goods for major global sporting equipment companies.


 Cambodia, Vietnam, China, and Indonesia faced respective tariff increases of 49%, 46%, 34%, and 32% on goods exported to the U.S., impacting brands such as Nike, Adidas, Under Armour, Lululemon, On Holdings, Amer Sports, and Hoka—each having some level of manufacturing presence in these areas.


 Are you looking for insights into the most significant issues and developments globally? Find your answers here.
 SCMP Knowledge
 Our latest platform features handpicked content including explainers, FAQs, analyses, and infographics, all presented by our prize-winning group.


 According to Nike’s 2024 annual report, Vietnam, Indonesia, and China accounted for 50%, 27%, and 18% of their shoe production in the previous year. In terms of apparel, Vietnam contributed 28% for this US-based firm, followed by China and Cambodia at 16% and 15% respectively.

<div class="image-inline-container">
 <img data-document-id="cms/api/amp/image/AA1Ckbup" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Ckbup.jpg"/>
</div>

 However, Vera Yuen Wing-han, an economics lecturer from the University of Hong Kong, stated that the effect on prices would adversely affect American consumers.


 She mentioned that this tariff has been imposed on numerous countries, thus offering no advantage specifically to Vietnam, China, or Cambodia. However, producing domestically within America turns out to be quite costly; therefore, they still need to bring products in from elsewhere, even at an increased cost.


 Yuen additionally mentioned that this trend might impact premium sports brands as customers choose more affordable alternatives.


 She mentioned that when you impose high tariffs, the quality declines.


 Simon Lee Siu-po, an economist at the Shenzhen Finance Institute affiliated with the Chinese University of Hong Kong, stated that theoretically, consumers would have to "pay higher prices."


 He mentioned that consumers might not cover the entire cost, with retailers absorbing part of it. However, this could ultimately lead to narrower profit margins and decreased consumer expenditure.


 According to Gary Ng Cheuk-yan, a senior economist at Natixis Corporate and Investment Bank, Asian manufacturers might experience some discomfort.


 In 2018, when Trump imposed tariffs on China, manufacturers shifted their supply chains away from the nation towards Southeast Asia, with Vietnam being the primary winner of this shift.


 "In contrast to 2018, there will be hardly anywhere safe from Trump's tariffs," Ng stated.


 Maintaining affordable prices without harming demand presents a major hurdle. Nations like Vietnam will continue to cater to markets outside the US, yet there isn’t an immediate substitute for American consumer spending in the near term.


 More Articles from SCMP


 The number of transactions with buyers from outside Hong Kong has increased over threefold.


 Can the Trump tariffs create an opening for China to enhance relations with Vietnam?


 Malaysia’s electronics industry faces threats as specialists criticize Trump’s 'magic' tariffs.


 Trump prolongs TikTok's deadline for divestment, claims China is 'dissatisfied' with tariffs.


 The article initially appeared on the South ChinaMorning Post (www.scmp.com), which is the premier source for news coverage of China andAsia.


 Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.

Why Trump's Tariffs Might Make Sports Gear from Asia Cost More for Americans

Unknown asia, commerce, economics, politics, sports

Retirees Watch Economy Closely as Trump's Tariffs Rock Financial Markets

Unknown economics, investors, news, politics, retirement

<img data-document-id="cms/api/amp/slideshow/AA1Ck1Wi" data-reference="slideshow"/>

 When retired school counselor Don Herneisen gets together weekly with his buddies for breakfast at their favourite cozy diner, they frequently discuss economic matters. As financial markets experience turbulence during the presidency of
 Donald Trump
 He revealed his newest tariffs earlier this week, so the likelihood of that subject losing traction is minimal.

<img data-document-id="cms/api/amp/image/AA1Ckb8U" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Ckb8U.jpg">
 
 "There’s political instability, there’s economic volatility, and when you’re retired, you really dislike unpredictability right now," stated Herneisen, aged 77, as he and his spouse took a break at Union Station.
 Kansas City
 ,
 Missouri
 , when I visited my family on Friday.
 
 
 Global stock markets plunged further downward on Friday after
 China
 responded to Trump’s significant tariff hikes in an intensifying trade conflict. These extensive new taxes, added to earlier duties and retaliatory measures globally, are anticipated to drive up costs for common goods as well.
 
 
 Herneisen, residing in Lancaster, Pennsylvania, along with his spouse, Cathy Herneisen—a 74-year-old former Verizon employee—get by on a combination of their pension, Social Security benefits, and an individual retirement account, also known as an IRA. According to him, they haven't started reducing expenses yet; however, she specified that maintaining their current lifestyle still involves certain cuts.
 
 
 “I'm paying more for items, yet my total expenditure remains unchanged," she explained. "I continue to adhere to my grocery budget, which implies reducing purchases of ready-made meals. Consequently, this impacts those running small businesses selling pre-prepared foods.”
 
 
 They reside in a region with republican leanings within a battleground state, yet both opted not to vote for Trump. He has mentioned that Americans might experience "some discomfort" due to tariffs; however, he believes that the ultimate objectives—such as bringing more manufacturing jobs back to the United States—are worthwhile.
 
 
 Chad NeSmith, who works as a portfolio manager at Tobias Financial Advisors located near Fort Lauderdale in Plantation, Florida, mentioned that they have received numerous inquiries from clients over the past few days, with the number of calls growing particularly on Friday.
 
 
 “
 Fear
 "is really gaining momentum, particularly because of the retaliatory tariff imposed by China," he stated.
 
 
 Neill Smith mentioned that many of his clients were primarily seeking clarification about how they should manage their investment portfolios. "We're handling each case individually," he stated.
 
 
 Neill Smith mentioned that typically, retirees tend to hold slightly lower-risk investments in their portfolios, and with bonds having performed quite well amidst market fluctuations, this strategy seems to be paying off.
 
 
 "The overarching message here is that you must understand your capacity for risk and have a solid financial strategy in place before entering any situation. This will allow you to navigate through the current market fluctuations more effectively," he explained.
 
 
 Colleen Power, a 57-year-old payroll specialist hailing from Kansas City, Missouri, remains optimistic that the market will bounce back before her retirement.
 
 
 We have arranged everything so that survival seems likely," she stated. "Generally speaking, yes, I'm certainly concerned about the nation as a whole. However, personally, I’m not overly stressed about it right now.
 
 
 However, Power, who is a Democrat, still finds the circumstances irritating. "Nothing about this is shocking on any level whatsoever, and all I can do is try my hardest at the local level and hope for the best," she stated.
 
 
 Paul Brahim, an adviser with Wealth Enhancement Group in Pittsburgh, stated, "Uncertainty can be terrifying; the unknown is daunting, and individuals keep posing this question repeatedly: 'Will everything work out for me?'"
 
 
 He mentioned that for someone recently retired, who has not yet begun claiming Social Security benefits and relies solely on the income generated from their investments, seeing those asset values drop significantly within mere days can be "terrifying."
 
 
 However, he stated that if they have adequately prepared, there ought to be reserves available. "There should be funds set aside that we can utilize as we permit that investment strategy to recover," he mentioned.
 
 
 Brahim, who leads the Financial Planning Association, an organisation representing certified financial planners, mentioned that the majority of his clientele possess well-diversified investment portfolios. Reflecting on the past year, these investments have yielded positive outcomes. "Putting things into perspective can be quite helpful when trying to alleviate fears," he remarked.
 
 
 I believe it's crucial for us to step back and halt during times of uncertainty prior to making any modifications to our portfolio," he stated. "Allow the situation to stabilize.
 
 
 ___
 
 
 Stengle provided input for this report from Dallas.
 
 
 The Independent embodies numerous values, frequently doing so distinctively. It maintains independence from political parties and forms its own opinions on contemporary matters. Throughout its existence, The Independent has consistently promoted challenges and discussions. Established in 1986 with the aim of introducing a fresh perspective, it has since initiated various campaigns addressing topics such as the legalization of cannabis and the Final Say Brexit initiative.
 
</img>

Retirees Watch Economy Closely as Trump's Tariffs Rock Financial Markets

Unknown economics, investors, news, politics, retirement

When retired school counselor Don Herneisen gets together weekly with his buddies for breakfast at their favourite cozy diner, they frequently discuss economic matters. As financial markets experien…

Trump's Tariffs Spark Market Meltdown: Ireland Watches Recession Warnings Rise

Unknown business, economics, financial markets, investing market news, news

<ul class="mol-bullets-with-font">
 <li class="class">
 
 PODCAST: Trump's 'Freedom Day' Tariffs, along with a surprising push for the death penalty in the Luigi Mangione case. Tune into Welcome to MAGAland here.
 
 </li>
</ul>

 Almost £175 billion has been erased from the value of UK stocks.
 stock market
 In merely seven days – striking at the pensions and savings of millions.


 As the market downturn caused by
 Donald Trump
 ’s trade war accelerated, the
 FTSE
 100 experienced its most significant decline since the start of the pandemic.


 The severe downturn, which reverberated from Wall Street onwards,
 Asia
 , followed President Trump imposing severe tariffs on trade partners, which sparked concerns about a potential global economic downturn. Experts cautioned that this could jeopardize the retirement aspirations of individuals planning to collect their pensions in the coming years.


 As global markets suffered a $5.6 trillion loss this week, the colossal firmJP Morgan cautioned: 'There will be blood.'


 The investment firm stated that the likelihood of a worldwide economic downturn has surged from 40 percent to 60 percent following Mr. Trump’s imposition of a base tariff of 10 percent on all imported goods into the U.S. Certain nations faced even steeper rates, reaching as high as 50 percent, which sent tremors throughout international financial markets.


 The route intensified yesterday afterwards.
 Beijing
 responded with a 34 percent tariff on U.S. imports, as the deadlock between the two biggest economic powers pushed the globe nearer to an all-out trade conflict.


 Concerns that other countries might implement reciprocal tariffs in the upcoming days fueled the growing anxiety permeating through financial markets.


 Posting on his Truth Social platform, Mr Trump asserted: "
 China
 got it wrong, they panicked – the one thing they can’t allow themselves to do.'

<img data-document-id="cms/api/amp/image/AA1CkbkQ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CkbkQ.jpg"/>
<img data-document-id="cms/api/amp/image/AA1Ck6xo" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Ck6xo.jpg"/>

 He stated that the significant decline in stock values presented a purchasing chance for investors. "It's an incredible period to amass great wealth, even greater than what has been seen before," the President remarked, asserting that his policies would remain unchanged.


 Yesterday, Mr. Trump introduced a new 'Gold Card,' which is a U.S. residency permit for non-citizens priced at $5 million (£3.9 million). During an event on his official aircraft, Air Force One, he presented a sample of this 'Trump Card' to journalists.


 Following a dip of 1.5% on Thursday, the FTSE 100 index for leading stocks plummeted an additional 4.9%, marking its most significant decline in half a decade. Meanwhile, the more domestically oriented FTSE 250 dropped by 4.4%. Additionally, the broader-based FTSE All-Share Index, covering approximately 600 firms listed in London, declined sharply by 4.87%. Over the course of this week, these indices collectively lost about £173.5 billion from their overall worth.


 Experts cautioned that this massive selling spree could significantly impact pensions and savings. "Individuals who aren't too far from retiring may have genuine cause for worry due to the fluctuating markets," stated Myron Jobson, a senior personal finance analyst at UK stockbroker Interactive Investor.


 'A prolonged decline in stock markets might considerably reduce the worth of their pension savings precisely when they're about to start using them. Consequently, this risk has the potential to derail their retirement plans.'


 'For pensioners counting on investment gains, a declining stock market might imply that their savings may not cover as much as they anticipated.'


 Dan Coatsworth, an investment analyst at AJ Bell, advised British savers to 'keep their focus on the long-term horizon and maintain their confidence' and stated that 'the market disruptions triggered by tariffs and concerns over a potential global trade war do not justify halting investments'.


 Shocks rippled through worldwide financial markets, as European equities faced additional pressure while still recovering from previous declines earlier in the week. Following a 2.6 percent dip on Thursday, the pan-European Stoxx 600 index dropped an extra 5.2 percent.


 In Frankfurt, the DAX declined by 4.66 percent, and the CAC 40 in Paris decreased by 4.26 percent. The FTSE MIB in Milan plummeted 6.53 percent, whereas the Ibex 35 in Madrid sank by 5.8 percent.


 On Friday, Wall Street took a hit as well, with the key S&P 500 index plummeting up to 3.8 percent and the Dow Jones Industrial Average declining by 3.4 percent. Following the nearly five percent drop seen on Thursday, the technology-driven Nasdaq Composite fell sharply by 3.98 percent. This brought the index’s decline since reaching its peak recently over the twenty-percent mark, pushing it into what traders refer to as a 'bear market'.


 The bloodshed in American markets also impacted British savers, since numerous individuals have part of their pension and other investments locked into U.S. stocks.


 Mr. Coatsworth from AJ Bell stated that the significant decline in U.S. prices served as a 'healthy reminder to maintain a well-diversified investment portfolio.'


 The CBOE Volatility Index, often referred to as Wall Street’s fear meter, reached its peak since August 2024, standing at 37.66 points.


 'A number of investors I've spoken with have simply stated that in this type of climate, we should move to cash and bide our time,' remarked Rick Meckler, a partner at the family investment firm Cherry Lane Investments.


 'The market is anticipating a worldwide economic downturn,' said George Saravelos, who leads foreign exchange research globally at Deutsche Bank.


 Asian shares tumbled overnight on Thursday following the imposition of some of Trump's harshest tariffs on the region.


 Tokyo’s Nikkei plummeted by 2.75 percent, Hong Kong’s Hang Seng decreased by 1.52 percent, and China’s Shanghai Composite declined by 0.24 percent.

Read more

Trump's Tariffs Spark Market Meltdown: Ireland Watches Recession Warnings Rise

Unknown business, economics, financial markets, investing market news, news

PODCAST: Trump's 'Freedom Day' Tariffs, along with a surprising push for the death penalty in the Luigi Mangione case. Tune into Welcome to MAGAland here. Almost £175 billion has been e…