Business

Federal court rejects Trump’s ‘unbounded authority’ to impose worldwide tariffs

The U.S. Court of International Trade ruled Wednesday that President Donald Trump overstepped his authority over tariffs under the International Emergency Economic Powers Act (IEEPA). “The Constitution assigns Congress the exclusive powers to ‘lay and collect Taxes, Duties, Imposts and Excises,’ and to ‘regulate Commerce with foreign Nations,’” the court…

Beauty powerhouse e.l.f. snaps up Hailey Bieber’s Rhode in B blockbuster deal

E.l.f. Beauty recently signed a definitive agreement to acquire celebrity skincare brand Rhode, founded by Hailey Bieber, in a $1 billion megadeal. The agreement includes $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of…

Nvidia shares rise on strong Q1 earnings, despite export control headwinds

Tech giant Nvidia reported its first-quarter earnings on Wednesday, beating analysts’ expectations, though it projected second-quarter sales below estimates amid tightening export controls to China that cover some of its AI chips. Nvidia, a leader in the artificial intelligence (AI) space, saw shares rise 3% in after-hours trading following the…

Chevron ends Venezuela contracts, but will keep staff in country: report

Chevron has terminated the oil production, service and procurement contracts it had to operate in Venezuela, delegating its joint-venture governance to its partner, state company PDVSA, but it plans to retain its direct staff in the country, four sources close to the decisions told Reuters. The State and Treasury departments…

Vance declares ‘crypto finally has a champion’ in Trump White House

Vice President JD Vance on Wednesday delivered remarks at a bitcoin conference to highlight the Trump administration’s policies related to cryptocurrency and digital assets. Vance attended the Bitcoin 2025 Conference in Las Vegas and highlighted how President Donald Trump and his administration are taking a more favorable approach to the emerging digital…

Macy’s joins retail giants warning of price hikes as tariffs weigh

Macy’s executives warned on Wednesday that the retailer will raise the prices of select products due to global tariffs. CEO Tony Spring, who took over last year to lead the company’s turnaround, said during an earnings call on Wednesday that the company is reducing its exposure to China, renegotiating orders…

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