For: April 11, 2025
>>Trading Week Winding Down
(New York, NY) -- The opening bell rings this morning as a volatile trading week winds down. Stocks closed sharply lower Thursday, one day after President Trump announced a 90-day pause on some tariffs. Investors are concerned about economic activity being slowed by the tariff on China. It all comes after the CPI report was released yesterday and showed inflation slowed last month. At the closing bell, the Dow Jones Industrial Average fell by one-thousand-and-14 points to 39-593. The S&P 500 lost 188 points to 52-68. The Nasdaq dropped 737 points to 16-387.
>>White House: Tariffs On China At 145%
(Washington, DC) -- The White House says goods coming from China now have at least a 145-percent tariff on them. The Trump administration made the clarification Thursday and said the 125-percent tariff against China announced earlier by President Trump is on top of a 20-percent tariff that was already in place. Trump has said the original 20-percent tariff was put in effect because China was playing a role in fentanyl coming into the U.S. and illegal immigration.
>>Poll: Most Americans Feel Financially Stressed
(Undated) -- Nearly three-quarters of Americans say they are "financially stressed," with a majority of those blaming ongoing trade wars brought on by the Trump administration's tariffs. The CNBC/Survey Monkey poll found that the stress was felt even by 30 percent of those earning more than 100-thousand-dollars a year. Inflation was by far the biggest concern and while rates have cooled, prices are still high.
>>China To Reduce U.S. Film Imports
(Beijing) -- China says it will allow less U.S. films to be imported in response to tariffs. The Chinese Film Administration announced Thursday it will "moderately reduce the number of American films imported." Thirty-four foreign films are permitted to be released in China each year. The Chinese Film Administration said tariffs imposed by President Trump "will inevitably further reduce the domestic audience's favorability towards American films." The Marvel film "Thunderbolts" had reportedly just been approved to be released on April 30th, but it's not clear whether or not it will go forward.
>>Open AI Countersues Elon Musk
(San Francisco, CA) -- Open AI is countersuing Elon Musk. Musk filed for an injunction to stop Open AI from going fully for-profit. Open AI is now countersuing the tech billionaire and presidential adviser, claiming harassment. The suit filed Wednesday asks the court to enjoin Musk from unlawful or unfair actions and hold the former co-founder responsible for any damage he has already done.
>>WeightWatchers Preparing To File For Bankruptcy After Launching In 1963
(New York, NY) -- WeightWatchers is preparing to file for bankruptcy over the next few months after launching its business in 1963. The health and wellness company, based in New York City, is working with lenders and bondholders on restructuring. WeightWatchers' preparation for bankruptcy is reportedly unrelated to Wall Street's volatility over tariffs. Shares of the company fell 59-percent on Wednesday, despite the stock market having its best day in five years. WeightWatchers has struggled with relevancy over the past few years with the rise of weight-loss drugs like Wegovy and Zepbound as quick fixes for obesity.
>>Prada To Buy Versace
(Milan) -- Prada is buying Versace in a deal valued at one-point-four-billion-dollars. In a statement, Prada said adding Versace's "highly recognizable" fashion brand gives Italian-based Prada "significant untapped growth potential." Versace was founded in 1978 by the late Gianni Versace -- who was murdered by a serial killer in 1997. It has been owned since 2018 by Capri Holdings, which includes fashion giants Michael Kors and Jimmy Choo.
