Netflix misses Q3 earnings targets amid Brazil tax dispute
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it...
The U.S. will impose a 15% tariff on imports from South Korea under a new trade deal that also includes a $350bn (about £264bn) South Korean investment in the U.S., President Donald Trump has announced.
The agreement was reached one day before a 1 August deadline for countries to avoid higher tariffs. South Korea had faced a 25% levy if no deal was struck.
The 15% rate will apply to cars and semiconductors, two of Seoul’s largest exports to the U.S., while steel and aluminium will continue to be taxed at 50% under a global tariff President Trump introduced earlier this year.
South Korean President Lee Jae Myung welcomed the deal, saying it put his country on “an equal or better footing” with key competitors such as Japan, which secured the same tariff rate earlier this week.
As part of the pact, Seoul will invest $350bn in the U.S., including $150bn to support shipbuilding, a sector where South Korea is the world’s second-largest producer after China. Much of the remaining investment comprises funds pledged under the Biden administration for car, semiconductor and battery production.
South Korea retained restrictions on U.S. rice and beef imports, avoiding concessions that had angered domestic farmers.
The agreement does not affect the military alliance with Washington, but further negotiations on defence costs are expected when President Lee visits The White House in two weeks’ time.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
President Donald Trump rejected a request from leading Democratic lawmakers to meet until the three-week-old U.S. government shutdown is brought to an end on Tuesday.
A Colombian court has overturned former President Álvaro Uribe’s convictions for fraud and bribery, halting a years-long legal saga that had made him the country’s first ex-leader to face criminal sentencing.
A Jan. 6 rioter who was pardoned by President Donald Trump has been charged with making terroristic threats after allegedly sending text messages that threatened to kill House Democratic Leader Hakeem Jeffries, according to a felony complaint filed in New York state court.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
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