Author: Daniel snow
Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de minimis loophole, new data shows.Temu’s U.S. daily active users (DAUs) dropped 52% in May versus March, before Trump’s tariffs were announced, while those at rival Shein were down 25%, according to data shared with CNBC by market intelligence firm Sensor Tower.DAUs is a measure of the number of people who visit or interact with a platform every 24 hours. Monthly active users (MAUs), a measure of user engagement over a…
Free trade reduces the frictions that can arise between nations. Tariffs will only take away stability. Source link
Asia FX sees little relief as dollar dips on weak jobs data Source link
The Trump administration signed a proclamation Wednesday suspending travel to the U.S. for citizens from 12 countries: Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen.Citing national security interests, the proclamation states that the identified countries lack sufficient vetting and screening processes needed to detect foreign nationals who may pose safety or terrorism threats to the U.S.The proclamation also partially restricted entrance for nationals of seven other countries: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.Other considerations include a country’s information-sharing policies, presence of terrorists, visa overstay rates and whether citizens who are sent…
A man reads a note placed on a memorial at the scene of an attack that injured multiple people, outside the Boulder County Courthouse, in Boulder, Colorado, U.S. June 2, 2025.Mark Makela | ReutersA federal judge on Wednesday temporarily barred the Trump administration from deporting the wife and five children of Mohamed Soliman, the Egyptian national accused of attacking a group of demonstrators in Boulder, Colorado, with a makeshift flamethrower and Molotov cocktails.The order blocking the removal of Soliman’s family came a day after they were taken into custody by U.S. Immigration and Customs Enforcement Agents, and as the Department…
In a Wednesday interview with CNBC’s Jim Cramer, CrowdStrike CEO George Kurtz indicated the cybersecurity outfit is confident in its finances as it faces a government inquiry about information related to a massive outage last year, along with deals and other matters.'”Someone asks a question, we’re going to cooperate. It’s an inquiry, and we’ll give them the answers they need and, and we’ll go from there,” Kurtz said. “We stand by the accounting of those transactions.” Last July, CrowdStrike suffered a major IT outage that disrupted businesses around the world, including airlines, hospitals and financial services firms. CrowdStrike attributed the issues…
The App Store logo is seen next to the Epic Games Store logo on two screens. Epic, maker of the popular game “Fortnite,” wants to sell digital items in its apps without giving a cut of the purchase price to Apple.Fabian Summer | picture alliance | Getty ImagesApple was dealt a blow in the U.S. Court of Appeals for the Ninth Circuit on Wednesday, as a panel of judges denied the company’s emergency application to halt changes to its App Store that resulted from the company’s legal battle with Epic Games.Apple “bears the burden of showing that the circumstances justify…
Debris is spilled onto the street after what the Mayor described as a bomb exploded near a reproductive health facility in Palm Springs, California, on May 17, 2025, in a still image from video.Abc Affiliate Kabc | Via ReutersTwo men suspected in last month’s bombing of a Palm Springs, California fertility clinic used a generative artificial intelligence chat program to help plan the attack, federal authorities said Wednesday.Records from an AI chat application show Guy Edward Bartkus, the primary suspect in the bombing, “researched how to make powerful explosions using ammonium nitrate and fuel,” authorities said.Officials didn’t name the AI…
CNBC’s Jim Cramer on Wednesday said graphics chips from artificial intelligence powerhouse Nvidia could give the U.S. leverage in the ongoing trade war with China.”If Trump’s wants to win this game, he may have to show his trump card, Nvidia. As I see it, the others just don’t make for a good hand,” he said. “You have to play with the cards you’ve been dealt, and for decades, our government did everything it could to encourage outsourcing to China. They left us with a pretty lousy darn hand, both Republicans and Democrats.”Trade tensions between the U.S. and China have been high…
Inspiration4 mission commander Jared Isaacman, founder and chief executive officer of Shift4 Payments, stands for a portrait in front of the recovered first stage of a Falcon 9 rocket at Space Exploration Technologies Corp. (SpaceX) on February 2, 2021 in Hawthorne, California. Patrick T. Fallon | Afp | Getty ImagesDays after his nomination for NASA was pulled by President Donald Trump, Jared Isaacman told investors in his payments company Shift4 that his “brief stint in politics was a thrilling experience.”Isaacman said in the letter that he was resigning as CEO of Shift4, which he founded in 1999 at age 16, and…