Bill Pugliano/Getty Images
Stellantis says it will lose $2.7b, partly because of tariffs. Jeeps may be all-terrain vehicles, but the company that makes them is struggling in the current market landscape. Yesterday, the automaker announced a surprise loss for the first half of the year, fueled in part by a $350 million hit from new US tariffs and costly turnaround efforts at the company. A 25% tariff on imported cars and auto parts took effect on April 2, and the company said its shipments to North America declined by 25% in the second quarter compared to the same period last year. A company exec said Stellantis would likely have to raise car prices soon, noting “tariffs are inherently inflationary.” It was the car company’s first earnings report released under its new CEO, who took over last month.
Judge questions whether slashing Harvard’s funding is constitutional. Lawyers for Harvard University and the Trump administration argued in a federal court yesterday in the school’s lawsuit challenging the government’s decision to strip more than $2 billion in funding from the school over what it claims was an inadequate response to antisemitism on campus. Harvard asserted that its constitutional rights were being violated, while the government’s lawyer (a Harvard grad) said the university had violated its contracts, so the government could nix them. But the judge expressed skepticism, saying, “It seems to be your idea that you can terminate a contract even if the basis for termination is a constitutional violation.”
Cosby Show star Malcolm-Jamal Warner dies at age 54. The actor reportedly drowned on Sunday after getting caught in a strong current while swimming in Costa Rica on a family trip. He was best known for his role as Bill Cosby’s son Theo Huxtable as a teenager on the iconic ’80s show, though Warner told the AP in 2015 that the show’s legacy had been “tarnished” by the subsequent sexual assault allegations against Cosby. Warner continued to work steadily after the show’s eight-year run and went on to star in other sitcoms, such as Malcolm & Eddie and Read Between The Lines. In his personal life, he had a wife and daughter, but chose to keep their identities private.—AR
No comments:
Post a Comment