Trump vows 25% tariff on all imports from Mexico, Canada, 10% on China

November 26, 2024   |   Listen Online   |   Read Online Brought to you by: Top stories today: Trump vows 25% tariff on imports from Mexico, Canada, 10% on China MicroStrategy buys another $5.4B of BTC at $98K Telegram's revenue +190% to $525M in H1 Apple said to have iPhone 17 "Air" with thinnest build Anthropic proposes open protocol for connecting AI chatbots with data Follow us on X | Instagram | Advertise 0. Data and calendar All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. Listen to our AI-generated podcast summarizing today's newsletter (beware of the few hallucinations): Bay Area Times Daily - Nov. 26, 2024 ►   Play Online 1. Trump vows 25% tariff on all imports from Mexico, Canada, 10% on China Truth Social: Donald Trump. For Mexico and Canada, he cited the flow of drugs and illegal immigrants as motivations. He accused China of breaking promises on stopping drug exports. China's yuan fell to 4-month low, 7.2730 per dollar. BYD is now in doubt about whether to build its plant in Mexico. Markets give Trump only 36% odds that he will actually impose tariffs on Mexico/Canada, suggesting that this could be a negotiating tactic Polymarket. 2. Master 25 Languages for Life with Rosetta Stone Rosetta Stone Lifetime access to 25 languages: Get unlimited access to immersive lessons in 25 languages, forever—no renewals needed. Real-life conversations: Learn practical phrases for meaningful conversations, and TruAccent helps you sound like a native. Beyond lessons: Enjoy stories, live lessons, and a phrasebook, all designed to bring language learning to life. Fits any schedule: Lessons as short as five minutes make it easy to learn anytime, anywhere. Proven results: Just 13 hours of Rosetta Stone equals a full semester of college Spanish! Get over 50% off 3. MicroStrategy buys another $5.4B of BTC at $98K, as prices -6% to $92K The Block. Funded by a $3B convertible note offering (at 0% interest rate) and $2.5B in share sales, part of the company's 21/21 plan to issue $21B in convertible debt and $21B in stock. $MSTR now has $36B in BTC and a $82B market cap (not including $7B in debt), which makes their issuance strategy very profitable for current shareholders. 4. Telegram's revenue +190% to $525M in H1, digital assets +225% to $1.3B from $400M in 2023-end $225M, 50% of the H1 revenue, came from an undisclosed deal. Toncoin created a financial buffer while CEO Durov faced legal troubles. $335M in post-tax profit in H1. 5. Apple said to have iPhone 17 "Air" with thinnest build, lacks physical SIM support Apple (iPhone 16). 5-6mm thickness, vs. 7.8mm for the iPhone 16. eSIM could be the only option worldwide to get carrier networks. China demand may get impacted due to no physical SIM support. Single speaker and a smaller battery. 2025 launch expected. 6. Anthropic proposes open protocol for connecting AI chatbots with systems storing data X: Alex Albert. Would replace "fragmented" integrations. Block and Apollo are among early adopters integrating MCP. Zed, Replit, Codeium, and Sourcegraph are adding MCP. Unclear whether OpenAI (or any other major player) will adopt MCP. 7. DOJ called Google ad-tech monopolist in closing arguments of antitrust case Judge Leonie M. Brinkema is set to rule on the ad tech dispute after hearing final arguments. 8. Zoom rebrands to Zoom Communications to reflect expanding scope Zoom. +3.6% YoY in Q3 revenue to $1.18B. +47% in net income to $207M. Zoom has projected itself as an "AI-first company" to attract more customers and investors Zoom. Zoom stock was -5.5% to $84.15 ($27.4B market cap) after the bell MarketWatch: Zoom stock. 9. Meta's Threads testing option to let users choose default feed The Verge, Threads. 10. China sees no foreign bank involvement in IPOs for 2024, first since at least 2007 FT, Dealogic. China's economic growth has also been declining and is likely to not reach the official target of 5% this year FT, IMF. 11. Global foldable smartphone shipments -1% YoY in Q3 after 6 consecutive quarters of growth Counterpoint. -21% in Samsung's shipments despite market domination. Xiaomi, Motorola, and Honor reported the highest shipment growth. Demo BILL and choose your gift Book your demo of BILL Spend & Expense to see how easy it can be to control overspending, help prevent fraud, and automate your financial operations. Then, choose an exclusive gift—a Nintendo Switch, Apple AirPods Pro, Samsung 50" TV, or Xbox Series S.1 Request a demo 1Terms and Conditions apply: See offer page for more details. Card issued by Cross River Bank, Member FDIC, and is not a deposit product. 12. Interesting videos, posts, and memes TWiST News: Startups & Wealth Taxes, The Bitcoin Boom, and The OpenAI Browser | E2051 Disrupt Yourself Jason Citron, Co-Founder/CEO @Discord: The Untold Story Behind Scaling to 200M Users | E1230 3 startup ideas from the co-founder of Loom (make $120k/mo) 13. Other headlines AI Beijing warns Apple it should partner with local AI group before rollout. Top-Quality Talent, 70% Cost Savings—Meet Athyna.* Money Pickle: Ready to take control of your financial future?* *Sponsored. Tech Elon admits X is shadow banning links. Qualcomm's interest in taking over Intel is said to cool. Xiaomi said to be readying own chip to take on MediaTek, Qualcomm. Huawei plans to drop Android entirely in devices from 2025. Tech & law Intel's finalized CHIPS grant will be $7.9B. Google proposes changes to search results in EU. Tesla excluded from EV buyer credits in CA proposal. Apple must lift restrictions on in-app payments, Brazil antitrust body rules. Biotech Cassava Sciences stock -84% after Alzheimer's drug flops in Phase 3. Weight loss drugs could be covered by Medicare, Medicaid under Biden proposal. Crypto Trump's crypto project gets $30M from Justin Sun. Downing Tech: consulting on decentralised technologies.* *Sponsored. U.S. politics Jack Smith drops both criminal cases against Trump. Boris Epshteyn being investigated for asking for money for influence with Trump. World Israel expected to vote on Hezbollah ceasefire deal today. Israel's government expects GDP growing +4.3% in 2025, from +0.4% in 2024. Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below). Share Bay Area Times Share our newsletter with your friends and get free Bay Area Times rewards! You currently have 0 referrals, only 1 away from receiving our Generative AI Unicorns Database. 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