Hedge fund Elliott Investment Management has built a stake of more than $1.5 billion in Hewlett Packard Enterprise, a person familiar with the matter said on Tuesday.Elliott, one of the world’s biggest activist investors, now ranks among the information technology company’s biggest investors and plans to engage with management, said the person who was not permitted to discuss the campaign publicly.Details of what Elliott may be pushing HPE, which is valued at $20 billion, to do could not be immediately dete ...

Core Viewpoint - Honda is planning to significantly expand its manufacturing operations in the US in response to new auto tariffs imposed by the Trump administration, aiming for 90% of its US sales to be produced domestically [1][4]. Group 1: Manufacturing Expansion - Honda intends to increase its US production capacity by up to 30% over the next two to three years [2]. - The company plans to shift production of key models, including the CR-V SUV from Canada and the HR-V SUV from Mexico to US facilities [6]. - Honda is also set to manufacture the next-generation Civic hybrid in Indiana instead of Mexico [6]. Group 2: Market Importance - The US market is crucial for Honda, accounting for approximately 40% of its global sales, with around 1.4 million vehicles sold in the US last year [5]. - In the first quarter of this year, Honda's US sales increased by 5% to nearly 352,000 vehicles [5]. Group 3: Industry Response - Honda's strategy reflects a broader trend among automakers to adjust production plans due to the 25% tariff on imported vehicles, with other companies like General Motors and Nissan also ramping up US production [4][7]. - The reshuffling of production is part of a larger reshoring trend in the US manufacturing sector, driven by rising costs and supply chain concerns [14][15].

Two of the biggest US banks, Citigroup and Bank of America, notched better-than-expected profits in the first three months of this year as traders raked in higher revenues amid President Donald Trump’s threat to start a global trade war.The banks reaped the benefits of investors adjusting their portfolios after being spooked about a possible return to protectionist trade policies, following a similar trend at fellow Wall Street giants JPMorgan and Goldman Sachs.President Trump had unveiled a string of ‘reci ...

Core Insights - JPMorgan Chase CEO Jamie Dimon sold approximately $31.5 million worth of the bank's shares, marking his first sale since becoming CEO in 2005 [1][2] - The bank surpassed first-quarter profit estimates due to record equities trading and increased fees from debt underwriting and mergers [1][2] - Dimon's 2024 pay package increased by 8.3% to $39 million, reflecting his continued influence in the industry [2] Share Sale Details - Dimon sold 133,639 shares at a closing price of $234.72, which represents a 0.6% decline on that day [2] - The share sale is part of JPMorgan's preparations for a future leadership transition, as Dimon is 69 years old and has led the bank for 19 years [2][3] Succession Planning - The bank's board is focused on succession planning, which Dimon identified as his most important task [3] - Dimon has expressed concerns about potential long-term negative impacts of trade wars, including persistent inflation and high fiscal deficits [3]

Nvidia said it is planning to build AI servers worth as much as $500 billion in the US over the next four years with help from partners such as TSMC, the latest American tech firm to back the Trump administration’s push for local manufacturing.Monday’s announcement includes production of its Blackwell AI chips at TSMC’s factory in Phoenix, and supercomputer manufacturing plants in Texas by Foxconn and Wistron that are expected to ramp up in 12 to 15 months.The move aligns the AI chip giant, majority of whos ...

Starbucks on Monday revealed a new dress code for java-slinging baristas as CEO Brian Niccol bets on creating a comfortable, welcoming environment to boost the sagging company’s sales.Starting May 12, employees will have to wear solid black tops, and will be issued two shirts from a new, company-branded line at no cost. Previously, the baristas were allowed to wear any color shirt they chose. The workers must also wear khaki, black or blue denim bottoms. The prior dress code had allowed for gray and brown s ...

Financial Performance - Goldman Sachs reported net profits of $4.7 billion and revenues of $15.06 billion for the first quarter of 2025 [1] - The trading division generated revenues of $4.2 billion, reflecting a 27% increase from the same period last year [2] - Analysts had forecasted revenues of $14.8 billion, indicating that Goldman Sachs exceeded expectations [3] Market Context - The bank's strong performance occurred amidst stock market turmoil due to President Trump's tariff plans, which initially caused stock markets to decline [4] - The share price of Goldman Sachs closed at $494.44, with a notable increase of over 30% in the past year [4][8] Executive Compensation - CEO David Solomon received $39 million in compensation last year, while COO John Waldron was offered an $80 million five-year 'golden handcuffs' bonus to remain with the firm [7][8] - The bonuses are seen as a strategy to retain key executives amid speculation about Waldron's potential move to Apollo Global Management [7][8]

Group 1 - The U.S. administration announced that smartphones, computers, and other electronics will be exempt from new reciprocal tariffs, benefiting consumers and companies like Apple [1][3][11] - Nearly twenty electronic items, including routers and semiconductor chips, are included in the exemption list, which appears to cover products manufactured in China [5][6] - The exemptions are effective for merchandise entered for consumption on or after April 5, 2025, as per the guidance issued by Customs and Border Protection [6] Group 2 - The administration's decision follows a presidential memorandum and is part of a broader strategy to manage trade relations, particularly with China [2][8] - A new 10% baseline tariff and harsher reciprocal levies will affect numerous countries, including key allies, while online Chinese retailers like Temu and Shein are no longer exempt from tariffs [9] - The Dow experienced a significant drop of over 1,000 points following the announcement of these tariffs, indicating market concerns about a potential trade war [9]

Group 1 - Alphabet, Google's parent company, has laid off hundreds of employees in its platforms and devices division, which includes teams working on Android, Chrome, Google Photos, and hardware products like Pixel, Fitbit, and Nest [1][3] - The layoffs are part of a restructuring effort aimed at making the company more nimble and effective, following the combination of platforms and devices teams last year [2][3] - In January, Google offered voluntary buyout packages to employees in the same division, with approvals communicated by March 25 [3][4] Group 2 - In 2023, Google has laid off approximately 12,000 employees, representing about 6% of its total workforce, which now stands at around 180,000 globally [4] - The company is focusing on cost-cutting measures and reallocating resources towards the development of advanced AI technologies [4][5] - Other tech companies, such as Meta, have also reduced their workforces recently, indicating a broader trend in the industry [4]

Core Viewpoint - JPMorgan Chase CEO Jamie Dimon has expressed concerns about the US economy facing "considerable turbulence" due to potential trade wars initiated by President Trump [1][2]. Economic Outlook - The economy is experiencing considerable turbulence influenced by geopolitics, with both positive factors such as tax reform and deregulation, and negative factors including tariffs, ongoing inflation, high fiscal deficits, and elevated asset prices and volatility [2]. - Dimon emphasized the need for the firm to prepare for a wide range of economic scenarios while hoping for the best [2]. Company Performance - JPMorgan Chase reported a 9% increase in profits for Q1 2025, achieving a net income of $14.6 billion, up from $13.4 billion in the same period the previous year, surpassing analyst expectations of $13.6 billion [3].