Group 1 - US stock markets are expected to recover following Trump's exclusion of smartphones and laptops from tariffs, which is anticipated to boost shares of Apple and Nvidia [1][2] - The temporary exemption is viewed as a response to pressure from Republican leaders concerned about rising smartphone costs potentially affecting voter sentiment [2][5] - US retailers import approximately 80% of smartphones, many from China, which currently faces tariffs totaling 145% [2][3] Group 2 - US Customs and Border Protection confirmed that laptops, smartphones, and certain chips will be exempt from tariffs, avoiding both the China tariff and a 10% baseline tariff on other countries [3][5] - Trump indicated that more specific exemption rules would be announced, emphasizing that the US has been profiting from trade, particularly with China [4][6] - The US commerce secretary stated that the reprieve is likely temporary, with plans for a specific tariff on the sector to encourage reshoring of manufacturing [5][6] Group 3 - Apple has committed to relocating some facilities back to the US over the next four years, with an estimated cost of $500 billion, including a new factory in Texas for AI servers [8] - The recent tariff imposition led to significant losses for major tech companies, with a total decline of $2.1 trillion, or 14% of their value, before recovering after the tariff pause [9]

Tesla has stopped taking orders in China for two models it previously imported from the US, as companies scramble to adapt to prohibitive tariffs imposed in Donald Trump’s trade war.The manufacturer, run by Trump’s close ally Elon Musk, removed “order now” buttons on its Chinese website for its Model S saloon and Model X sports utility vehicle.Tesla did not give any indication of why it had made the changes but it came after the rapid escalation of the trade war between the US and China. In tit-for-tat move ...

Tesla sales declined in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.The drop of 13% is likely due to a combination of factors, including its ageing lineup, competition from rivals and a backlash from Musk’s embrace of rightwing politics. It also is a warning that the company’s first-quarter earnings report later this month could disappoint investors.Tesla reported deliveries of 336,681 vehicles globally in the Januar ...

Core Points - Block, Jack Dorsey's financial technology company, plans to lay off nearly 1,000 employees and make significant operational changes, marking its second major workforce reduction in just over a year [1][2] - The layoffs will affect over 930 employees, with nearly 200 managers transitioning to non-management roles and around 800 open positions being closed [2] - Dorsey emphasized that these changes are not aimed at achieving specific financial targets or replacing staff with AI, but rather to enhance performance and streamline operations [4][5] Company Operations - Block operates several payment platforms, including Square and Afterpay, as well as the money transfer app CashApp and the music streaming service Tidal [3] - The company has implemented a headcount maximum of 12,000 employees as part of a previous reorganization that also resulted in approximately 1,000 job losses [4] Financial Performance - Block's stock has decreased by 29% this year, with revenue and profit growth slowing, raising concerns among shareholders [6] - Dorsey noted that part of his role is to increase the company's stock value, and the current reorganization is intended to improve focus and execution [6] Industry Context - Dorsey highlighted the need for the company to move faster in response to the transformational changes within the industry to enhance access, openness, and automation [7]

Core Viewpoint - Meta, the owner of Facebook and Instagram, is considering introducing a subscription service for UK users to access an advert-free version of its platforms following a settlement in a significant privacy lawsuit [1][4]. Group 1: Legal Settlement - Tanya O'Carroll, a human rights campaigner, filed a lawsuit against Meta in 2022, claiming the company violated UK data laws by not respecting her request to stop collecting her data for targeted advertising [2]. - The lawsuit was settled on Friday, with O'Carroll declaring a "victory" as Meta agreed to cease using her personal data for targeted ads, supported by the UK's Information Commissioner's Office (ICO) [3][4]. - O'Carroll emphasized that the ICO's position could lead to more lawsuits regarding privacy rights, highlighting the importance of individual privacy in the digital age [4]. Group 2: Meta's Response and Future Plans - Meta expressed disagreement with O'Carroll's claims but acknowledged its commitment to UK privacy laws, specifically GDPR, and is considering a subscription model for UK users to avoid ads [4][5]. - The company already offers a no-ads service in the EU for €7.99 per month, following a ruling by the European Court of Justice in 2023 [5]. - Advertising constitutes approximately 98% of Meta's revenue, indicating a significant shift in strategy if a subscription model is implemented [4].

Elon Musk attempted to reassure Tesla employees of the automaker’s “bright and exciting” future at a company all-hands meeting on Thursday, urging them not to sell their stock even as the company’s valuation slides precipitously downward.“There are times when there are rocky moments,” the billionaire CEO told his employees. “But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one has even dreamed of.”During the meeting, which was broadcast ...

Tesla and Elon Musk are embroiled in a “brand tornado crisis moment” and the electric carmaker’s chief executive needs to cut back on his work for Donald Trump to stem the damage, one of the company’s biggest supporters has said.The warning came as Tesla announced a recall of 46,000 Cybertrucks in the US on Thursday to fix an exterior panel that could detach while driving.It came as protesters announced on Wednesday they are planning what they described as their biggest day of action yet against the EV make ...

Core Viewpoint - Nvidia plans to invest "several hundred billion" dollars in semiconductor and electronics manufacturing in the US over the next four years, reflecting a shift in its supply chain strategy due to geopolitical factors and tariff threats [1][2]. Group 1: Investment and Manufacturing Strategy - Nvidia's CEO, Jensen Huang, stated that the company will procure approximately half a trillion dollars worth of electronics over the next four years, with a significant portion manufactured in the US [2]. - The company's shift is influenced by the "America First" policy, prompting Nvidia to reconsider its global operations despite being one of the world's most valuable companies [2][3]. - Recent investments, including a $100 billion commitment from TSMC, have facilitated the production of Nvidia's Blackwell chips in the US, enhancing supply chain resilience [7]. Group 2: Market Position and Competition - Nvidia has been a key player in the AI market boom, with its valuation reaching $2.9 trillion, but it has become increasingly reliant on Taiwanese chipmaking facilities, which are vulnerable to geopolitical tensions [3][4]. - Huang expressed confidence in Nvidia's ability to manage potential disruptions in Taiwan, emphasizing a diversified supply chain [4]. - The competitive landscape includes formidable companies like Huawei, which have thrived despite US efforts to constrain them, highlighting the challenges faced by US tech firms [5]. Group 3: Regulatory Environment and Energy Needs - Huang noted the importance of having supportive government policies for the success of the AI industry in the US, particularly regarding energy supply for data centers [6].

Google has agreed to pay $28m (£22m) to settle a class action lawsuit claiming that it favoured white and Asian employees by paying them more and putting them on higher career tracks than other workers.The accord with Google, a unit of Alphabet, won preliminary approval last week from Judge Charles Adams of the Santa Clara county superior court in California.He called the settlement fair, reasonable and “a good result for the class” of at least 6,632 Google employees in California between 15 February 2018 a ...

Hundreds of people protested at Tesla dealerships across the US over the weekend, as the backlash against Elon Musk and the Trump administration continued despite a warning from the attorney general that the government would be “coming after” protesters.The protests, in cities including Los Angeles, Philadelphia, Boston and New York, have come as Musk has seen his net worth plunge and the sales of Teslas plummet in Europe. In Brooklyn, New York, about 50 people gathered outside a Tesla showroom on Saturday ...