Fri, 25 Apr 2025

Fri, 25 Apr 2025 Company bosses warn over tariffs impact

Several firms have cut their profit forecasts or withdrawn them citing economic uncertainty.

* Intel: + Cut profit forecast due to tariffs + Shares dropped by over 5% in extended trading
* Skechers: + Withdrew annual results forecast due to tariffs uncertainty + Shares fell after announcement
* Procter & Gamble (P&G): + Expects sales growth this year to be less than previously forecast + Considering price increases for customers due to tariff-related costs
* Seven & I (Japanese owner of 7-Eleven convenience stores): + Feeling impact of trade tensions, particularly in North America where it generates over 70% of sales
* Hyundai: + Set up task force to deal with fallout from tariffs + Considering moving some manufacturing out of South Korea
* US-South Korea talks: + Signs of progress and optimism about potential agreement to remove tariffs + Next week's meeting will focus on technical terms for a possible "July package"
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