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Piper Sandler: "Yesterday’s decision is a comprehensive defeat for the administration. Its legal arguments were roundly rejected. ...To side with the White House in this case is to argue the president can declare a bogus national emergency and do almost anything he wants. The CIT was having none of it and we believe it is very likely a comfortable majority of the Supreme Court will take the same position as the three-judge panel."
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Piper Sandler: "Yesterday’s decision is a comprehensive defeat for the administration. Its legal arguments were roundly rejected. ...To side with the White House in this case is to argue the president can declare a bogus national emergency and do almost anything he wants. The CIT was having none of it and we believe it is very likely a comfortable majority of the Supreme Court will take the same position as the three-judge panel."
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The New York Times $NYT and Amazon $AMZN just announced an AI licensing deal. The Times has agreed to license its content to Amazon for use in AI platforms https://t.co/86dd3FBv4t
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The New York Times $NYT and Amazon $AMZN just announced an AI licensing deal. The Times has agreed to license its content to Amazon for use in AI platforms https://t.co/86dd3FBv4t
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McKinsey has cut more than 10% of its workforce over the past 18 months—the biggest reduction in its 100-year history—bringing headcount down to around 40,000, according to the Financial Times https://t.co/6Oqb4U8hfm
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McKinsey has cut more than 10% of its workforce over the past 18 months—the biggest reduction in its 100-year history—bringing headcount down to around 40,000, according to the Financial Times https://t.co/6Oqb4U8hfm
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CITI: 'THE PRESIDENT STILL HAS SEVERAL OPTIONS UNDER US TRADE LAW TO REIMPOSE TARIFFS'
"Last night a federal trade court struck down President Trump’s Reciprocal Tariffs ruling that he had overstepped his authority by invoking the International Emergency Economics Powers Act (IEEPA) to impose tariffs. The court ordered a permanent stop to the tariffs and also barred any future modifications to them giving the Trump administration 10 days to make the changes. Notably, tariffs on products like aluminium and steel were not impacted by the court ruling as the President did not utilize IEEPA powers. The Trump administration immediately appealed the ruling to the US Court of Appeals."
"While this ruling is favorable for our companies (for which we have outlined the tariff headwind incorporated in guidance in Figure 1 below and in a detailed note published last week), we are wary about how the situation will continue to develop from here for which it seems there are options for Trump reimpose tariffs. Where Do We Go From Here: With the Trump administration appealing the Court of International Trade’s decision, it is possible that the Supreme Court may end up reviewing the case."
"However, as we understand it the President still has several options under US trade law to reimpose tariffs including: (1) Section 122 of the Trade Act of 1974, which would allow temporary tariffs for up to 150 days, but which would subsequently require Congressional action, (2) Section 232 tariffs could be expanded to other sectors allows tariffs in response to threats to national security, and (3) the President could start Section 301 investigations on US trading partners or utilize Section 338 which allows the president to impose levies of up to 50% on imports from countries that discriminate against the U.S."
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CITI: 'THE PRESIDENT STILL HAS SEVERAL OPTIONS UNDER US TRADE LAW TO REIMPOSE TARIFFS'
"Last night a federal trade court struck down President Trump’s Reciprocal Tariffs ruling that he had overstepped his authority by invoking the International Emergency Economics Powers Act (IEEPA) to impose tariffs. The court ordered a permanent stop to the tariffs and also barred any future modifications to them giving the Trump administration 10 days to make the changes. Notably, tariffs on products like aluminium and steel were not impacted by the court ruling as the President did not utilize IEEPA powers. The Trump administration immediately appealed the ruling to the US Court of Appeals."
"While this ruling is favorable for our companies (for which we have outlined the tariff headwind incorporated in guidance in Figure 1 below and in a detailed note published last week), we are wary about how the situation will continue to develop from here for which it seems there are options for Trump reimpose tariffs. Where Do We Go From Here: With the Trump administration appealing the Court of International Trade’s decision, it is possible that the Supreme Court may end up reviewing the case."
"However, as we understand it the President still has several options under US trade law to reimpose tariffs including: (1) Section 122 of the Trade Act of 1974, which would allow temporary tariffs for up to 150 days, but which would subsequently require Congressional action, (2) Section 232 tariffs could be expanded to other sectors allows tariffs in response to threats to national security, and (3) the President could start Section 301 investigations on US trading partners or utilize Section 338 which allows the president to impose levies of up to 50% on imports from countries that discriminate against the U.S."
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Per Reuters, Business Insider is laying off 21% of its workforce. In a memo, CEO Barbara Peng said the company is moving away from “traffic-sensitive businesses” amid ongoing volatility in content distribution.
Insider will exit most of its commerce division and invest in a new live journalism events business, BI Live. Peng noted 70% of the business is still tied to traffic, so the company is resizing to better absorb external shocks.
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Per Reuters, Business Insider is laying off 21% of its workforce. In a memo, CEO Barbara Peng said the company is moving away from “traffic-sensitive businesses” amid ongoing volatility in content distribution.
Insider will exit most of its commerce division and invest in a new live journalism events business, BI Live. Peng noted 70% of the business is still tied to traffic, so the company is resizing to better absorb external shocks.
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