Trump Imposes New Steel Tariffs, Elevating Trade Tension Further
The escalating costs at the grocery store might be due to an unexpected issue: a drastic reduction in bee populations. In an unforeseen event, millions of bees perished this winter, resulting in financial losses of over $139 million, as reported in a recent survey. This sudden decline in bee populations has left the bee industry in panic, especially as California's almond season approaches, which relies heavily on 3 million honey bee colonies for pollination. This isn't just an issue for almonds, though. Varieties of fruits like blueberries, cherries, cranberries, and apples also require bee pollination.
Beekeepers are scratching their heads, trying to figure out what caused this latest calamity. One beekeeper put it bluntly, "We've seen tough times in the bee business before, but this one seems to be a different flavor."
On a different note, President Trump announced plans to impose a 25% tariff on all steel and aluminum imports on Monday. The stock prices of steelmaker U.S. Steel and aluminum producer Alcoa surged before trading, and Trump mentioned that he'll reveal his "reciprocal tariffs" the following day. He also mentioned his intentions to continue implementing tariffs on Canada and Mexico, despite postponing the initiation by 30 days last week.
In an effort to boost revenue, Sezzle, a Minneapolis-based fintech company, decided to focus on their frequent customers – those who can't seem to stay away from their buy-now, pay-later services. They launched a subscription service, offering benefits like access to more retailers and rescheduling payment flexibility for $12.99 a month.
Now, onto some news on the tech front. In an unfortunate turn of events, the partnership between two of the biggest police surveillance companies in the U.S., Axon Enterprise and Flock Safety, has come to an end. This could potentially negatively impact law enforcement costs, according to a police drone pilot in New Jersey.
Anduril, a defense tech giant worth $14 billion, is reportedly in discussions to raise another round of funding that could potentially value the company at $28 billion. This comes as investor interest in tech companies developing national security products grows.
Trump proposed transforming Gaza into a "Riviera of the Middle East," but this isn't the first time he's floated such a luxury development idea. Back in the 1970s, Trump became intrigued by Atlantic City, but his casino and hotel empire there was swamped by debt, leading to bankruptcies by the 1990s.
Trump also announced he wanted to halt the production of the penny unilaterally due to its high production cost, but it's unclear if this is within his power or if legislation from Congress would be required.
The Eagles, now a two-time champion, earned Philly one of the NFL's most valuable franchises after their Super Bowl LIX victory, proving that sometimes, faith in a struggling team can pay off.
Lastly, Issa Rae, the Hollywood multi-hyphenate, has built an impressive empire by focusing on opportunities that naturally arose during her career, including starting a jewelry collection, launching a haircare company, and creating a bottle of Prosecco. She insists on not having a master plan, but her growth suggests that her instincts are pretty spot on.
Jeffry Lurie, the owner of the Philadelphia Eagles, was featured in a recent Forbes Daily newsletter discussing the financial impact of the Super Bowl victory on the team. The Eagles, now a two-time champion, significantly increased the value of Philly's NFL franchise.
In a different context, US Steel saw its stock prices surge after President Trump announced plans to impose a 25% tariff on all steel and aluminum imports. This move was part of Trump's continual efforts to implement tariffs on international trade, including plans to target Canada and Mexico.
Jeffry Lurie, along with many other business leaders, received the Forbes Daily newsletter, which may have included the article about US Steel's response to the tariffs. Lurie could have gained insights from this newsletter regarding global trade policies and their impact on various industries, including sports franchises and steel manufacturing.
