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 White House said the higher tariffs, ranging from 10% to 41%, will take effect in seven days for 69 countries. Mexico received a 90‑day extension after securing a temporary deal to maintain its existing 25% rate.
Canada, Washington’s second‑largest trading partner, saw its tariff rise to 35% from 25% on goods not covered by the U.S.-Mexico-Canada Agreement. Prime Minister Mark Carney said he was “disappointed” by the move but pledged to continue negotiations.
Trump linked the decision partly to Canada’s “continued inaction and retaliation” on fentanyl trafficking. The escalation followed Canada’s announcement of support for Palestinian statehood, which Trump said would make reaching a trade deal “very hard.”
India, the world’s third‑largest oil importer and a key buyer of Russian crude, was assigned a 25% rate. A senior U.S. official cited India’s “closed market” and geopolitical tensions, including its ties to the BRICS bloc.
Taiwan, which has been in talks with Washington since April, received a reduced 20% tariff. President Lai Ching‑te said negotiations were not yet finalised and described the tariff as “temporary.”
Markets across Asia reacted sharply, with South Korea’s KOSPI falling more than 3% and its currency dropping to a two‑month low. Malaysia, Cambodia and Thailand secured 19% rates, which officials described as safeguarding key export sectors.
The tariff package also ends the longstanding “de minimis” exemption for parcels worth less than $800, a move expected to impact online retailers such as Shein and Temu. The exemption will end on 29 August.
Legal challenges are continuing, with U.S. appeals court judges questioning whether the tariffs are justified under emergency powers. Businesses and states opposing the measures argue that Trump has exceeded his authority under the International Emergency Economic Powers Act.
The White House said customs and tariff revenues have already topped $150 billion since Trump took office and would “skyrocket” after the new duties take effect.
Critics, including Senate Majority Leader Chuck Schumer, accused Trump of waging a “trade war on the American people,” warning of rising prices for consumers.
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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