MEF BUSINESS NEWS 14 MARCH 2025 Wall Street ended Thursday in correction territory as Trump’s escalating trade war rattled investors. The S&P 500 closed over 10% below its February peak, while the Nasdaq and Dow also saw steep declines. Trump threatened a 200% tariff on European alcohol after the EU imposed a 50% duty on American bourbon, following new US tariffs on steel and aluminum. Canada and Europe have retaliated with over $40 billion in tariffs on US exports, vowing not to back down. Despite market turbulence, US Treasury Secretary Scott Bessent dismissed concerns, saying the administration is focused on long-term economic gains. The Federal Reserve is expected to hold interest rates steady next week, offering little relief to jittery markets. ——————————- European Central Bank President Christine Lagarde warned that Trump’s escalating trade war could severely harm global economic growth. In an interview with the BBC, she highlighted rising uncertainty for businesses and consumers, stressing that “everyone will suffer” from tit-for-tat tariffs. Lagarde defended the EU’s right to retaliate but emphasized that negotiations could still prevent further damage. She also dismissed Trump’s claim that the EU was created to harm the US, calling it “an abuse of history.” —————————- The EU’s foreign policy chief, Kaja Kallas, warned that China stands to benefit from the ongoing US-EU trade war. In an interview with Bloomberg Television, she called for restraint but reiterated that Europe is ready to retaliate against Trump’s escalating tariffs. By the way, Kallas also dismissed Putin’s call for a Ukraine ceasefire, citing Russia’s history of breaking agreements. ———————————- Tesla warned that Trump’s trade war could lead to retaliatory tariffs, raising the cost of US-made vehicles and hurting exports. In a letter to US trade officials, Tesla urged caution, highlighting supply chain challenges and the potential impact on materials like lithium and cobalt. Despite Musk’s close ties to Trump, the company expressed concern over erratic trade policies. Tesla stock has dropped 40% this year amid declining sales and market turmoil, while consumer backlash grows in Europe over Musk’s political stances. ——————————— Mercedes-Benz is launching its most affordable electric sedan, the CLA, to compete with Tesla and China’s BYD. Priced around €50,000, it aims to revive the company’s EV sales after the underwhelming reception of its high-end EQS. With a range of up to 792 km, the CLA arrives as Mercedes struggles in China, where local brands are dominating. While it costs more than Tesla’s Model 3, the German automaker is betting on features like a UV-filtering glass roof and advanced software to attract buyers. Mercedes is also releasing a hybrid version to appeal to markets where EV adoption is slowing, reflecting a shift in strategy as it balances electrification with combustion-engine investments. —————————— Meanwhile, Daimler plans to cut costs at its Mercedes-Benz Trucks unit in Europe by more than €1 billion by 2030 after reporting a decline in fourth-quarter earnings, the company said. The German manufacturer cited weak demand in key markets, particularly in Europe, as a major factor in the drop, with adjusted earnings falling to €1.10 billion from €1.56 billion a year earlier. Revenue for the quarter declined by 4%. —————————— Representatives of the Trump family have held talks to take a financial stake in Binance.US, the U.S. arm of the cryptocurrency exchange — the Wall Street Journal reports. This comes as Binance founder Changpeng Zhao, who pleaded guilty to violating anti-money-laundering laws, pushes for a pardon from the Trump administration. The deal could strengthen the Trump family’s involvement in the crypto space, as the U.S. regulator’s stance towards the industry continues to evolve. ——————————————- LVMH founder Bernard Arnault, 76, is signaling plans to stay at the helm for nearly another decade. The luxury giant will seek to raise the CEO age limit to 85 at its upcoming AGM, extending Arnault’s potential leadership. Despite speculation over succession—especially as all five of his children now hold key roles—Arnault shows no signs of stepping back from the company he’s led since 1989. His fortune, estimated at $179 billion, makes him Europe’s wealthiest person. —— —— MEF MOBILE NEWS 14 MARCH 2025 Apple’s iPhone 16e is off to a strong start, with sales 60% higher than the 2022 iPhone SE. However, analysts predict a 2% decline in Apple’s sales in China this year due to fierce competition from Android, aided by government subsidies. The $599 iPhone 16e, with limited features, struggles against budget-friendly Android options in China. Apple hopes to boost sales in markets like India, where the 16e could make up a fifth of iPhone sales in the second half of 2025. Overall, Apple’s revenue growth is expected to remain marginal. ———————————- Match is set to enhance its mobile ecosystem by streamlining operations, investing in growth areas, and focusing on improving user experience across its dating apps, including Tinder and Hinge. CEO Spencer Rascoff shared a vision to shift from a numbers-driven approach to one that prioritizes real, meaningful connections. As part of the strategy, Match will integrate more artificial intelligence and open a confidential feedback channel for employees. The move is aimed at addressing the challenges Tinder faces, including user decline and evolving preferences among younger, mobile-first users. With a strong focus on mobile innovation, Match Group hopes to rebuild trust and deliver a more engaging app experience. —————————————— Meta is integrating “Community Notes” into Instagram, Facebook, and Threads, allowing users to crowdsource fact-checking directly within its apps. Launching March 18 in the U.S., the system—based on Elon Musk’s X technology—lets contributors flag misleading content, replacing third-party fact-checking. With 200,000 users signed up, this shift makes content moderation a built-in feature of Meta’s mobile experience, streamlining engagement while aligning with CEO Mark Zuckerberg’s efforts to improve relations with the Trump administration. —————————————— News Corp is suing Brave Software, accusing the search engine of scraping and using content from its publications like the Wall Street Journal without permission. Brave argues this is “fair use” for indexing, which is necessary for search engines. The case highlights the growing tension between publishers and tech companies over AI tools like ChatGPT using copyrighted material. This legal battle could reshape the future of AI in mobile ecosystems and how news content is used and licensed. —— —— MEF TECH NEWS 14 MARCH 2025 Intel’s stock jumped 15% after the tech giant appointed Lip-Bu Tan as CEO, with analysts noting his strong industry background but questioning potential strategic changes. Tan’s return as a former board member fuels speculation on whether he will maintain Intel’s current structure or push for a split. Deutsche Bank analysts welcome the leadership shift but stress that any strategic moves will take time to unfold. ———————————- Foxconn reported a 13% drop in net profit to $1.4 billion, missing analyst expectations, despite a 15% revenue increase. The company’s expansion into AI servers for Amazon and Nvidia boosted revenue, with cloud and networking products making up 26% of Q4 earnings. However, the lower-margin AI server business weighed on profitability. Foxconn expects AI server revenue to surge in 2025, accounting for half of its total server revenue and securing over 40% market share. —————————————- Palantir CEO Alex Karp announced new AI-driven partnerships to enhance U.S. manufacturing, focusing on defense tech and industrial efficiency. At AIPCon congress, the company revealed collaborations with firms like Archer Aviation, Saildrone, and Epirus, integrating AI for fleet management, air traffic control, and autonomous systems. Karp emphasized strengthening the American industrial base for economic and national security. Palantir’s AI demand has fueled a 200% stock surge, with commercial revenue expected to surpass government contracts. Companies like AT&T, Walgreens, and L3Harris are also leveraging its AI tools. ————————————— Apple’s encryption battle with the UK has sparked high-level talks between British and U.S. officials after Apple removed a key security feature rather than comply with UK demands for backdoor access. Bloomberg News reported on this story citing people familiar with the matter. The UK insists it only seeks data for serious crimes, but U.S. lawmakers warn this could set a dangerous precedent, threatening global cybersecurity. Apple, supported by human rights groups, argues the UK’s move undermines privacy protections worldwide. A secret UK court hearing will decide the case, as pressure mounts from both sides of the Atlantic. —— ——
MEF BUSINESS NEWS 14 MARCH 2025 Wall Street ended Thursday in correction territory as Trump’s escalating trade war rattled investors. The S&P 500 closed over 10% below its February peak, while the Nasdaq and Dow also saw steep declines. Trump threatened a 200% tariff on European alcohol after the EU imposed a 50% duty on American bourbon, following new US tariffs on steel and aluminum. Canada and Europe have retaliated with over $40 billion in tariffs on US exports, vowing not to back down. Despite market turbulence, US Treasury Secretary Scott Bessent dismissed concerns, saying the administration is focused on long-term economic gains. The Federal Reserve is expected to hold interest rates steady next week, offering little relief to jittery markets. ——————————- European Central Bank President Christine Lagarde warned that Trump’s escalating trade war could severely harm global economic growth. In an interview with the BBC, she highlighted rising uncertainty for businesses and consumers, stressing that “everyone will suffer” from tit-for-tat tariffs. Lagarde defended the EU’s right to retaliate but emphasized that negotiations could still prevent further damage. She also dismissed Trump’s claim that the EU was created to harm the US, calling it “an abuse of history.” —————————- The EU’s foreign policy chief, Kaja Kallas, warned that China stands to benefit from the ongoing US-EU trade war. In an interview with Bloomberg Television, she called for restraint but reiterated that Europe is ready to retaliate against Trump’s escalating tariffs. By the way, Kallas also dismissed Putin’s call for a Ukraine ceasefire, citing Russia’s history of breaking agreements. ———————————- Tesla warned that Trump’s trade war could lead to retaliatory tariffs, raising the cost of US-made vehicles and hurting exports. In a letter to US trade officials, Tesla urged caution, highlighting supply chain challenges and the potential impact on materials like lithium and cobalt. Despite Musk’s close ties to Trump, the company expressed concern over erratic trade policies. Tesla stock has dropped 40% this year amid declining sales and market turmoil, while consumer backlash grows in Europe over Musk’s political stances. ——————————— Mercedes-Benz is launching its most affordable electric sedan, the CLA, to compete with Tesla and China’s BYD. Priced around €50,000, it aims to revive the company’s EV sales after the underwhelming reception of its high-end EQS. With a range of up to 792 km, the CLA arrives as Mercedes struggles in China, where local brands are dominating. While it costs more than Tesla’s Model 3, the German automaker is betting on features like a UV-filtering glass roof and advanced software to attract buyers. Mercedes is also releasing a hybrid version to appeal to markets where EV adoption is slowing, reflecting a shift in strategy as it balances electrification with combustion-engine investments. —————————— Meanwhile, Daimler plans to cut costs at its Mercedes-Benz Trucks unit in Europe by more than €1 billion by 2030 after reporting a decline in fourth-quarter earnings, the company said. The German manufacturer cited weak demand in key markets, particularly in Europe, as a major factor in the drop, with adjusted earnings falling to €1.10 billion from €1.56 billion a year earlier. Revenue for the quarter declined by 4%. —————————— Representatives of the Trump family have held talks to take a financial stake in Binance.US, the U.S. arm of the cryptocurrency exchange — the Wall Street Journal reports. This comes as Binance founder Changpeng Zhao, who pleaded guilty to violating anti-money-laundering laws, pushes for a pardon from the Trump administration. The deal could strengthen the Trump family’s involvement in the crypto space, as the U.S. regulator’s stance towards the industry continues to evolve. ——————————————- LVMH founder Bernard Arnault, 76, is signaling plans to stay at the helm for nearly another decade. The luxury giant will seek to raise the CEO age limit to 85 at its upcoming AGM, extending Arnault’s potential leadership. Despite speculation over succession—especially as all five of his children now hold key roles—Arnault shows no signs of stepping back from the company he’s led since 1989. His fortune, estimated at $179 billion, makes him Europe’s wealthiest person. —— —— MEF MOBILE NEWS 14 MARCH 2025 Apple’s iPhone 16e is off to a strong start, with sales 60% higher than the 2022 iPhone SE. However, analysts predict a 2% decline in Apple’s sales in China this year due to fierce competition from Android, aided by government subsidies. The $599 iPhone 16e, with limited features, struggles against budget-friendly Android options in China. Apple hopes to boost sales in markets like India, where the 16e could make up a fifth of iPhone sales in the second half of 2025. Overall, Apple’s revenue growth is expected to remain marginal. ———————————- Match is set to enhance its mobile ecosystem by streamlining operations, investing in growth areas, and focusing on improving user experience across its dating apps, including Tinder and Hinge. CEO Spencer Rascoff shared a vision to shift from a numbers-driven approach to one that prioritizes real, meaningful connections. As part of the strategy, Match will integrate more artificial intelligence and open a confidential feedback channel for employees. The move is aimed at addressing the challenges Tinder faces, including user decline and evolving preferences among younger, mobile-first users. With a strong focus on mobile innovation, Match Group hopes to rebuild trust and deliver a more engaging app experience. —————————————— Meta is integrating “Community Notes” into Instagram, Facebook, and Threads, allowing users to crowdsource fact-checking directly within its apps. Launching March 18 in the U.S., the system—based on Elon Musk’s X technology—lets contributors flag misleading content, replacing third-party fact-checking. With 200,000 users signed up, this shift makes content moderation a built-in feature of Meta’s mobile experience, streamlining engagement while aligning with CEO Mark Zuckerberg’s efforts to improve relations with the Trump administration. —————————————— News Corp is suing Brave Software, accusing the search engine of scraping and using content from its publications like the Wall Street Journal without permission. Brave argues this is “fair use” for indexing, which is necessary for search engines. The case highlights the growing tension between publishers and tech companies over AI tools like ChatGPT using copyrighted material. This legal battle could reshape the future of AI in mobile ecosystems and how news content is used and licensed. —— —— MEF TECH NEWS 14 MARCH 2025 Intel’s stock jumped 15% after the tech giant appointed Lip-Bu Tan as CEO, with analysts noting his strong industry background but questioning potential strategic changes. Tan’s return as a former board member fuels speculation on whether he will maintain Intel’s current structure or push for a split. Deutsche Bank analysts welcome the leadership shift but stress that any strategic moves will take time to unfold. ———————————- Foxconn reported a 13% drop in net profit to $1.4 billion, missing analyst expectations, despite a 15% revenue increase. The company’s expansion into AI servers for Amazon and Nvidia boosted revenue, with cloud and networking products making up 26% of Q4 earnings. However, the lower-margin AI server business weighed on profitability. Foxconn expects AI server revenue to surge in 2025, accounting for half of its total server revenue and securing over 40% market share. —————————————- Palantir CEO Alex Karp announced new AI-driven partnerships to enhance U.S. manufacturing, focusing on defense tech and industrial efficiency. At AIPCon congress, the company revealed collaborations with firms like Archer Aviation, Saildrone, and Epirus, integrating AI for fleet management, air traffic control, and autonomous systems. Karp emphasized strengthening the American industrial base for economic and national security. Palantir’s AI demand has fueled a 200% stock surge, with commercial revenue expected to surpass government contracts. Companies like AT&T, Walgreens, and L3Harris are also leveraging its AI tools. ————————————— Apple’s encryption battle with the UK has sparked high-level talks between British and U.S. officials after Apple removed a key security feature rather than comply with UK demands for backdoor access. Bloomberg News reported on this story citing people familiar with the matter. The UK insists it only seeks data for serious crimes, but U.S. lawmakers warn this could set a dangerous precedent, threatening global cybersecurity. Apple, supported by human rights groups, argues the UK’s move undermines privacy protections worldwide. A secret UK court hearing will decide the case, as pressure mounts from both sides of the Atlantic. —— ——
