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Auto stocks have remained under pressure after Donald Trump announced new tariffs on the industry. All cars entering the US from friendly and foe countries will receive a 25% tariff, a move that will hurt most companies. This article highlights some of the top automobile stocks to sell because of these tariffs.

Top auto stocks to sell after Trump’s tariffs

Porsche, Nissan, and Stellantis are some of the top stocks to sell after Donald Trump launched new tariffs. 

Porsche 

Porsche is a top German automobile company partially owned by the Volkswagen Group. It focuses on premium vehicles that have become highly popular in the United States, its only market where it is growing. The US has now overtaken China as its most important market, meaning that tariffs may have a profound effect.

These tariffs are coming at a difficult time for Porsche, whose stock price has crashed by over 56% from its all-time high and now sits at an all-time low. Its Chinese business is facing major challenges as deliveries tumbled by 28% last year. 

Most importantly, the Chinese market is being disrupted by companies like Nio, BYD, Li Auto, Lotus, and Polestar. Its entry into the electric vehicle industry has not been successful.

Therefore, there is a risk that the Porsche stock price will continue falling in the coming months as these challenges rise.

Read more: Is the Porsche bubble bursting? Job cuts and lower margin target hit iconic carmaker

Nissan

Nissan is one of the top auto stocks to sell after Donald Trump implemented new tariffs on the auto industry. That’s because Nissan is already going through financial difficulty that have seen its debtload surge. Just recently, Nissan was about to merge with Honda

Nissan is a big player in the US auto industry. It sold over 8924,000 units in 2024, mostly Rogue and Sentra. While Nissan maintains plants in the US, it also brings in a lot of vehicles from Japan. It also ships most of the parts to its assembly plants from Japan. 

Therefore, Nissan stock is a sell because these tariffs will worsen a bad situation. This explains why its stock has crashed by over 50% from its highest point this year.

Stellantis

Stellantis is another top auto stocks to sell, because of its large presence in the United States and because of its ongoing challenges. The Stellantis stock price has crashed by over 50% from its all-time high, and is hovering near its lowest level since November 2022.

The company sold over 1.3 million vehicles in the US in 2024. Most of these vehicles were Jeep, Dodge, and Chrysler. It manufactures its vehicles in the US, Canada, and Mexico. This means that the company’s exports to the US will have tariffs, which will affect its growth.

On top of this, like Nissan, Stellantis is facing major challenges as its sales slow across all its regions. Its brands are also seeing substantial challenges because of many years of underinvestment.

General Motors (GM)

GM is another top auto stock to sell because of its large plants in other countries. It has several plants in Mexico, making brands like Chevrolet and Silverado. It normally imports about 52.7% of all its vehicles sold in the US from Mexico. GM also has plants in other countries like Canada, South Korea, and China.

On top of this, GM will also see the US business cost rise because of all these tariffs on parts. Therefore, the stock, which has crashed by over 16% from its highest level this year, could get worse.

Other auto stocks that will suffer from these tariffs are the likes of Ford, Hyundai, Volkswagen, and Mercedes-Benz.

The post Top 4 vulnerable auto stocks to sell after Trump’s pre-Liberation Day tariffs appeared first on Invezz

The Google stock price has crashed into a bear market this year as concerns about the technology industry continues. After peaking at $208 earlier this year, the Alphabet share price has plunged by almost 20% to the current $167. This article explains why Google is at risk from Grok’s growth. 

Google is being disrupted

Google stock has a long history of outperformance as it jumped from about $25 during its IPO to the current $167. This growth happened as the company became the most dominant player in the search engine industry, where it has become a monopoly.

Attempts to disrupt Google have all failed in the past. Not many people use its top competitors, like Yahoo, DuckDuckGo, and Bing. 

Recently, however, there are signs that Google has found a real threat from artificial intelligence models. Its top competitors are Grok, ChatGPT, DeepSeek, and Perplexity. 

While all these are good products, we believe that Elon Musk’s Grok is Google’s biggest threat to date. 

Launched in 2023, Grok’s parent company, xAI, has become one of the fastest-growing players in the AI industry. It has raised $12 billion from investors and is now valued at over $40 billion. 

Grok operates as an independent website but is mostly used as part of X, formerly Twitter. It recently expanded to Telegram, a social media application with almost 1 billion users. 

While ChatGPT is the most popular AI model, Grok has the biggest potential to disrupt Google. That’s because it has a vast trove of data on X and other places. Most importantly, there are signs that Grok is more accurate than ChatGPT on some simple queries.

Grok is a big disruptor for Google because Google’s Gemini product has not lived to the hype. At the same time, the emphasis on Search Engine Optimization (SEO) has made Google Search worse over time. 

Alphabet’s business is still growing

Still, it will take a long time for Grok to fully disrupt Google because of the moat the company has created over time. 

That’s because Alphabet dominates the search engine industry. It has also invested in Android, a mobile operating system that has billions of users. The company’s Chrome browser has the biggest market share. 

Further, Alphabet has more divisions, including YouTube, Cloud, and other bets. The most recent financial results showed that Alphabet’s search revenue rose from $48 billion in Q4’23 to $54 billion in Q4’24. 

The company’s YouTube Ads revenue jumped from over $9.2 billion to $10.4 billion. Google Cloud made $11.95 billion from $9.1 billion a year earlier. 

Analysts anticipate that the first-quarter revenue rose by 10.8% to $89.3 billion. Its annual revenue for the year will be $389 billion, up by 11.3% from last year. 

Read more: Google’s growth engine sputters: why Wall Street is worried about Alphabet’s future

Google stock price technical analysis

GOOG chart by TradingView

The weekly chart shows that the Alphabet share price peaked at $208 earlier this year, and has moved to $158.70, its lowest point this month. It has remained above the 100-week Exponential Moving Average (EMA).

The stock has formed a doji candlestick pattern, comprising a small body and a long lower shadow.  A doji is one of the most bullish patterns in the market. 

The Google share price has formed a giant megaphone chart pattern. This is a popular pattern made up of two ascending and broadening trendlines. Therefore, there is a likelihood that the Google stock price will continue rising as bulls target the key resistance point at $200, up by 20% above the current level. A drop below the key support at $158 will invalidate the bullish outlook.

The post Google stock price forecast: Elon Musk’s Grok is a top threat appeared first on Invezz

Hims & Hers stock price has imploded this year, erasing some of the gains made in 2024 when it became one of the top-performing companies in the US. HIMS has crashed to $33.35, down by over 54% from its highest point this year. So, why has the telemedicine stock crashed, and what to expect.

Why HIMS stock has plunged

Hims & Hers is a top company that sells healthcare products used by millions of customers in the US. Its strategy is to focus on niche conditions that people have struggled with for years. These conditions include weight loss, hair, anxiety, skin, and sex. Largely, all Americans face at least one of these challenges, giving it a large, addressable market.

The main reason why the Hims stock price has crashed is that its biggest business is under threat. Hims & Hers started offering compounded GLP-1 treatments, which are generic versions of the weight loss products made by companies like Eli Lilly and Novo Nordisk. 

The compounded drugs are effective and much cheaper than those made by large companies. Customers pay about $200 for the drugs sold by Hims, much lower than the $1,000 sold by the larger companies. 

Hims & Hers is also cheaper than other companies in the industry. The average annual cost of its GLP drugs is $1,980, lower than WW’s $2,208, Henry’s $2,864, Noom’s $3,218, and Ro’s $4,583.

Read more: Will the falling Hims & Hers stock price recover in 2025?

The challenge, however, is that Hims & Hers drugs have not been approved by the FDA, which has sued to stop the tirzepatide sales. In a court ruling this month, a judge sided with the FDA, meaning that, in the longer term, Hims could face a challenge. Hims is running adverts and campaigns pressuring the FDA to allow compounding. 

The weight loss division is an important part of Hims business because of its higher margins. Also, unlike other divisions, these customers will remain with the company for a long time. In most cases, stopping to take weight loss products usually leads to more weight gain.

Hims growth has accelerated

The most recent financial results show that Hims & Hers business has surged in the past few quarters, mostly because of its compounded drugs. 

Hims & Hers made over $481 million in the fourth quarter, up by 95% from the same period  year earlier. This led to an annual revenue of $1.5 billion, a 69% annual increase.

The company also made a net profit of $26 million in the fourth quarter and $126 million in the full year. This growth happened as the number of subscribers surged by 45% to 2.2 million. Most of these subscribers are mostly because of its weight loss products. 

Analysts anticipate that this growth will continue in the coming years. The average estimate is that Hims’ revenue will grow by 92% in the first quarter to $535 million and $2.3 billion this year.

Read more: Is the soaring Hims & Hers stock a good investment?

Hims & Hers stock price analysis

HIMS chart by TradingView

The weekly chart shows that the HIMS stock price peaked at $72.9 earlier this year, and has crashed to $33.35. It has remained above the 25-week Exponential Moving Average (EMA), and is above the key support at $25.30 

The HIMS stock has moved inside the ascending channel in the past few weeks. Also, the two lines of the MACD indicator have pointed downwards, while the Relative Strength Index (RSI) have pointed downwards.

Therefore, the stock will likely have a strong bullish breakout when the GLP issue cools in the coming weeks. If this happens, the next key resistance point to watch will be at $50, up by almost 50% from the current level.

The post Here’s why Hims & Hers stock price has crashed: buy the dip? appeared first on Invezz

Shiba Inu price has crashed to a critical support level this year. SHIB token dropped to a low of $0.00001443, down by about 55% from its highest point this year. It has plunged by over 65% from last year’s high. So, what next for the SHIB coin as its burn rate accelerates?

Shiba Inu burn rate accelerates

A potential catalyst for the SHIB price is the ongoing incineration. Data by Shiburn shows that the burn rate has jumped by over 57,0000% in the last 24 hours. This increase happened after one user moved 1 billion tokens to a dead address. At the current price, these tokens are worth over $14,500.

This burn happened after another user incinerated 1 billion Shiba Inu coins. Another user burned over 2.1 million Shiba Inu coins on Thursday. Therefore, these token burns mean that the coin’s inflation will continue going down in the coming months.

Data shows that there have been over 410 trillion Shiba Inu coin burns over the years. These burns have lowered the number of tokens in circulation to about 584 million coins, a number that will continue falling in the next few years.

However, the reality is that the overall deflation is not all that big when you compare the size of Shiba Inu, which has a market cap of over $7 billion.

Potential catalysts for SHIB coin

There are several potential catalysts for the Shiba Inu coin. First, Donald Trump’s tariffs will likely lead to a recession in the United States. While a recession is a bad thing, history shows that risky assets bounce back after the initial drop.

The main driver for these assets when there is a recession is that the Federal Reserve tends to intervene when markets crash. The bank does that by cutting interest rates and implementing quantitative easing policies that flood the market with money.

At the same time, the federal government often intervenes by providing money to support key sectors. For example, in the 2008/9 crisis, the government spent over $700 billion in saving the banking sector. It spent trillions of dollars during the COVID-19 pandemic.

The fiscal and monetary interventions draw investors into risky assets like cryptocurrencies and stocks. Such a move will benefit cryptocurrencies like Bitcoin and Shiba Inu coin.

Second, Shibarium, its layer-2 network may boost Shiba Inu price. Data shows that the network is nearing 1 billion completed transactions now that it has handled over 975 million coins. The number of accounts has grown to over 245k, while blocks have risen to 10.15 million coins. 

Shibarium is an important part of Shiba Inu’s ecosystem in that the fees generated in the ecosystem are converted into Shiba Inu and then incinerated. While Shibarium has not been all that successful, there is a likelihood that it will be in the future.

Shiba Inu price technical analysis 

SHIB price chart by TradingView

The weekly chart shows that the SHIBZ coin has been in a downward trend in the past few weeks. It has crashed from a high of $0.000035 to low of $0.00001525.

Shiba Inu price has moved slightly below the 50-week Exponential Moving Average (EMA), which is a bearish view.

However, on the positive side, it has formed a megaphone chart pattern, which is characterized by two ascending and broadening wedge pattern. It is one of the most popular bullish patterns in technical analysis.

Therefore, the SHIB coin price will likely have a strong bullish breakout in the coming weeks, with the next key point to watch being at $0.00003395, which is about 130% above the current level.

Read more: Shiba Inu coin price prediction: why the next SHIB price target is $0.000024

The post Shiba Inu price prediction: megaphone forms as SHIB burn rate surges appeared first on Invezz

Auto stocks have remained under pressure after Donald Trump announced new tariffs on the industry. All cars entering the US from friendly and foe countries will receive a 25% tariff, a move that will hurt most companies. This article highlights some of the top automobile stocks to sell because of these tariffs.

Top auto stocks to sell after Trump’s tariffs

Porsche, Nissan, and Stellantis are some of the top stocks to sell after Donald Trump launched new tariffs. 

Porsche 

Porsche is a top German automobile company partially owned by the Volkswagen Group. It focuses on premium vehicles that have become highly popular in the United States, its only market where it is growing. The US has now overtaken China as its most important market, meaning that tariffs may have a profound effect.

These tariffs are coming at a difficult time for Porsche, whose stock price has crashed by over 56% from its all-time high and now sits at an all-time low. Its Chinese business is facing major challenges as deliveries tumbled by 28% last year. 

Most importantly, the Chinese market is being disrupted by companies like Nio, BYD, Li Auto, Lotus, and Polestar. Its entry into the electric vehicle industry has not been successful.

Therefore, there is a risk that the Porsche stock price will continue falling in the coming months as these challenges rise.

Read more: Is the Porsche bubble bursting? Job cuts and lower margin target hit iconic carmaker

Nissan

Nissan is one of the top auto stocks to sell after Donald Trump implemented new tariffs on the auto industry. That’s because Nissan is already going through financial difficulty that have seen its debtload surge. Just recently, Nissan was about to merge with Honda

Nissan is a big player in the US auto industry. It sold over 8924,000 units in 2024, mostly Rogue and Sentra. While Nissan maintains plants in the US, it also brings in a lot of vehicles from Japan. It also ships most of the parts to its assembly plants from Japan. 

Therefore, Nissan stock is a sell because these tariffs will worsen a bad situation. This explains why its stock has crashed by over 50% from its highest point this year.

Stellantis

Stellantis is another top auto stocks to sell, because of its large presence in the United States and because of its ongoing challenges. The Stellantis stock price has crashed by over 50% from its all-time high, and is hovering near its lowest level since November 2022.

The company sold over 1.3 million vehicles in the US in 2024. Most of these vehicles were Jeep, Dodge, and Chrysler. It manufactures its vehicles in the US, Canada, and Mexico. This means that the company’s exports to the US will have tariffs, which will affect its growth.

On top of this, like Nissan, Stellantis is facing major challenges as its sales slow across all its regions. Its brands are also seeing substantial challenges because of many years of underinvestment.

General Motors (GM)

GM is another top auto stock to sell because of its large plants in other countries. It has several plants in Mexico, making brands like Chevrolet and Silverado. It normally imports about 52.7% of all its vehicles sold in the US from Mexico. GM also has plants in other countries like Canada, South Korea, and China.

On top of this, GM will also see the US business cost rise because of all these tariffs on parts. Therefore, the stock, which has crashed by over 16% from its highest level this year, could get worse.

Other auto stocks that will suffer from these tariffs are the likes of Ford, Hyundai, Volkswagen, and Mercedes-Benz.

The post Top 4 vulnerable auto stocks to sell after Trump’s pre-Liberation Day tariffs appeared first on Invezz

US President Donald Trump has announced new import tariffs of 25% on cars and car parts, a move that threatens to escalate global trade tensions.

The tariffs will take effect on April 2 for vehicle imports, with levies on parts expected to follow in May or later.

Trump defended the decision, arguing that it would stimulate the US auto industry by creating jobs and attracting investment.

However, analysts warn that the policy could backfire by disrupting global supply chains, increasing vehicle prices, and straining relations with key allies, including Japan, South Korea, Germany, and Mexico.

The tariffs are also expected to drive up the cost of vehicles sold in the US.

Analysts at Bernstein estimate that the new levies could add as much as $75 billion per year to automakers’ expenses, costs that will likely be passed on to consumers.

Middle-income buyers will bear the brunt of these price increases.

Affordable models such as the Chevrolet Trax, which is manufactured in South Korea, may become out of reach for many American buyers.

“The folks at the lower end of the buying pool are going to suffer the most,” said Erin Keating, executive analyst at Cox Automotive.

Asian automakers hit as stocks tumble

Asian car manufacturers were among the hardest hit following Trump’s announcement.

Toyota and Honda shares fell by 2.74% and 3.05%, respectively, while Nissan, which has two plants in Mexico, dropped 1.84%.

Mazda Motor suffered the sharpest decline, plunging over 6.4%, while Mitsubishi Motors also saw a 4% drop.

South Korean automakers also faced a downturn, with Kia Motors sliding over 3%. Kia, which operates a manufacturing facility in Mexico, faces significant exposure to the tariffs.

Chinese automakers were not spared either, with Nio falling 3.94% and Xpeng losing 1.97%.

In India, Tata Motors, owner of Jaguar Land Rover (JLR), saw its shares crash more than 6% amid fears that the company’s US sales would take a hit.

Hyundai and Kia could see their margins take a hit

Credit ratings agency CreditSights warned that Hyundai Motor and its affiliate Kia could face financial strain from the tariffs.

The 25% levies could push their global operating margins down to less than 6% from a projected 9%, potentially triggering credit rating downgrades.

The tariffs could affect 60% of the vehicles Hyundai-Kia sells in the US, with an estimated cost increase of 25% per unit.

The group can likely only pass 5% of the projected cost increase, and the impact of the tariffs could wipe out its US profitability, the agency said.

Despite investing $21 billion in US expansion plans, Hyundai still imported over a million vehicles into the US last year, accounting for more than half of its American sales.

According to SK Securities analyst Hyuk Jin Yoon, the two South Korean carmakers may have to pay as much as 10 trillion won ($7 billion) annually in tariffs, wiping out nearly 40% of their operating profits.

Toyota and Volkswagen also vulnerable

Toyota, the world’s largest automaker, is also at risk despite having extensive US manufacturing operations in Kentucky, Indiana, Mississippi, Texas, West Virginia, and Alabama.

The company still imports about half of the vehicles it sells in the US.

Volkswagen, Europe’s top carmaker, is similarly vulnerable.

S&P Global Mobility estimates that 43% of Volkswagen’s US sales originate from Mexico, making it a key target of Trump’s trade policy.

Ford to face less severe impact than rivals

Ford Motor Co. could also face a less-severe impact than some rivals, with about 80% of the cars it sells in the US being built domestically.

However, the carmaker builds its entry-level Maverick small pickup in Mexico as well as the Bronco Sport compact SUV and Mustang Mach-E electric vehicle.

General Motors imports certain Chevrolet Silverado pickup trucks from its facilities in Mexico and Canada, along with the entry-level Chevy Trax compact SUV from South Korea and the Chevrolet Equinox crossover SUV.

Both the Equinox and Trax, which rank among GM’s most affordable models, saw sales exceed 200,000 units last year.

Additionally, the company manufactures electric versions of the Equinox and Blazer in Mexico.

Stellantis NV, meanwhile, produces the Jeep Compass and Wagoneer S SUVs in Mexico, making it another major player affected by the tariffs.

Tesla could emerge as a winner among losers

Among the hardest-hit automakers, Tesla appears to be a rare beneficiary of the new tariffs.

The electric vehicle giant produces all its US-sold cars domestically at factories in California and Texas, shielding it from the 25% levies.

While Tesla may still face higher production costs due to tariffs on imported parts, its relative insulation from foreign car imports gives it a competitive edge over rivals.

Trump dismissed speculation that Tesla CEO Elon Musk influenced the tariff decision, stating, “He’s never asked me for a favor in business whatsoever.”

The post From Hyundai, Kia to Tesla: here’s how Trump’s auto tariffs will hit carmakers appeared first on Invezz

Hims & Hers stock price has imploded this year, erasing some of the gains made in 2024 when it became one of the top-performing companies in the US. HIMS has crashed to $33.35, down by over 54% from its highest point this year. So, why has the telemedicine stock crashed, and what to expect.

Why HIMS stock has plunged

Hims & Hers is a top company that sells healthcare products used by millions of customers in the US. Its strategy is to focus on niche conditions that people have struggled with for years. These conditions include weight loss, hair, anxiety, skin, and sex. Largely, all Americans face at least one of these challenges, giving it a large, addressable market.

The main reason why the Hims stock price has crashed is that its biggest business is under threat. Hims & Hers started offering compounded GLP-1 treatments, which are generic versions of the weight loss products made by companies like Eli Lilly and Novo Nordisk. 

The compounded drugs are effective and much cheaper than those made by large companies. Customers pay about $200 for the drugs sold by Hims, much lower than the $1,000 sold by the larger companies. 

Hims & Hers is also cheaper than other companies in the industry. The average annual cost of its GLP drugs is $1,980, lower than WW’s $2,208, Henry’s $2,864, Noom’s $3,218, and Ro’s $4,583.

Read more: Will the falling Hims & Hers stock price recover in 2025?

The challenge, however, is that Hims & Hers drugs have not been approved by the FDA, which has sued to stop the tirzepatide sales. In a court ruling this month, a judge sided with the FDA, meaning that, in the longer term, Hims could face a challenge. Hims is running adverts and campaigns pressuring the FDA to allow compounding. 

The weight loss division is an important part of Hims business because of its higher margins. Also, unlike other divisions, these customers will remain with the company for a long time. In most cases, stopping to take weight loss products usually leads to more weight gain.

Hims growth has accelerated

The most recent financial results show that Hims & Hers business has surged in the past few quarters, mostly because of its compounded drugs. 

Hims & Hers made over $481 million in the fourth quarter, up by 95% from the same period  year earlier. This led to an annual revenue of $1.5 billion, a 69% annual increase.

The company also made a net profit of $26 million in the fourth quarter and $126 million in the full year. This growth happened as the number of subscribers surged by 45% to 2.2 million. Most of these subscribers are mostly because of its weight loss products. 

Analysts anticipate that this growth will continue in the coming years. The average estimate is that Hims’ revenue will grow by 92% in the first quarter to $535 million and $2.3 billion this year.

Read more: Is the soaring Hims & Hers stock a good investment?

Hims & Hers stock price analysis

HIMS chart by TradingView

The weekly chart shows that the HIMS stock price peaked at $72.9 earlier this year, and has crashed to $33.35. It has remained above the 25-week Exponential Moving Average (EMA), and is above the key support at $25.30 

The HIMS stock has moved inside the ascending channel in the past few weeks. Also, the two lines of the MACD indicator have pointed downwards, while the Relative Strength Index (RSI) have pointed downwards.

Therefore, the stock will likely have a strong bullish breakout when the GLP issue cools in the coming weeks. If this happens, the next key resistance point to watch will be at $50, up by almost 50% from the current level.

The post Here’s why Hims & Hers stock price has crashed: buy the dip? appeared first on Invezz

A new report from South Korea’s Government Public Ethics Committee has revealed that one in five public officials holds cryptocurrency, reflecting the increasing penetration of digital assets in state institutions.

As of 2025, 411 out of 2,047 officials have declared crypto holdings, amounting to a combined value of 14.41 billion Korean won ($9.8 million).

The Ethics Committee’s March 27 report was published by local media outlet Munhwa and represents the most detailed breakdown yet of crypto asset ownership within South Korea’s public offices.

This is the second consecutive year officials have been legally required to report virtual asset ownership, following a transparency law introduced in 2023.

The move marks a major shift in public sector accountability and sheds light on how crypto is no longer limited to private retail or institutional investors.

Seoul councillors top list

Among those disclosing cryptocurrency, the official with the highest declared amount is Seoul City Councilor Kim Hye-young.

Her crypto portfolio is worth 1.7 billion won ($1.2 million), spread across 16 types of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and XRP.

She holds 0.0014 BTC personally, while her husband owns 0.01 ETH, 472 DOGE, and 519,004 XRP.

Their eldest son also holds 3,336 XRP. These figures make her household one of the most digitally invested within the South Korean public sector.

The second highest holding is of another Seoul City Councilor, Choi Min-gyu, whose assets total 1.6 billion won ($1.09 million).

Following closely is Kim Ki-hwan, CEO of Busan-Ulsan Expressway Co., with crypto holdings valued at 1.4 billion won ($955,031).

These disclosures highlight a growing interest in digital assets within both government and affiliated agencies.

New law enforces reporting

The requirement to declare virtual assets came into effect on 1 January 2024, after the South Korean National Assembly passed a bill in May 2023.

This legislation was introduced to ensure financial transparency among public officials and political candidates, especially amid growing concerns about conflicts of interest and undeclared wealth.

Under the rules, high-ranking officials classified under Grade 1 must disclose the type and amount of crypto assets they hold, as well as provide transaction records and explanations of how the assets were acquired.

Grade 4 officials, a category covering mid-level government employees, are required to disclose only the quantity and types of cryptocurrencies in their possession.

The policy is overseen by the Government Public Ethics Committee and applies to all high-ranking government employees, including members of the National Assembly, police leadership, and executives of state-run corporations.

Crypto use spreads in government

The findings point to a broader trend of crypto adoption among government stakeholders in South Korea.

Public officials reporting ownership include the Secretary General of the Labor-Management Development Foundation, the President of the Korean National Police University, and the Vice President of the Korea Water Resources Corporation.

The average holding per official stands at 35.07 million won ($23,927), underscoring that interest in crypto extends well beyond speculative trading.

It also raises questions about future regulation and whether similar rules could be introduced for other sectors or countries.

The post 20% of South Korean officials hold crypto worth $9.8M appeared first on Invezz

Next has become one of the few British retailers to surpass £1 billion in annual profit, reporting a pre-tax figure of £1.011 billion for the year ending January.

This marks a 10.1% increase from the previous year’s £918 million, placing the high street fashion retailer in the same league as Tesco, Marks & Spencer, and B&Q owner Kingfisher.

The strong results come as the company recorded an 8.2% rise in total sales to £6.3 billion, with full-price sales growing by 5.8%.

NEXT share price jumped more than 8% on the positive announcement.

The retailer credited robust consumer demand and strategic business decisions for its impressive performance.

NEXT raises profit forecast for current year

Buoyed by stronger-than-expected trading in the first eight weeks of the new financial year, Next has raised its profit forecast for the current year by £20 million to £1.07 billion, an expected 5.4% increase.

The company also revised its sales growth projections upward, now expecting a 5% rise in total sales and a 6.5% increase in full-price sales, compared with previous estimates of 3.5%.

Chief executive Simon Wolfson emphasized that achieving a £1 billion profit milestone would not alter the company’s disciplined approach to business.

“Reaching any level of profit cannot be used as an excuse for being less demanding in our approach to running the business,” he told investors.

Wolfson reiterated that Next must remain rigorous in cost control, margin management, and capital allocation to sustain long-term profitability.

Wolfson tempers celebration, warns of economic risks

Despite the company’s financial success, Wolfson played down the significance of crossing the £1 billion profit threshold.

“To some, it may seem an important milestone, even a cause for celebration. We do not share that view, not least because profits can go down as well as up,” he said.

Wolfson illustrated the company’s approach with an anecdote from an employee who had hoped that Next’s £1 billion earnings would justify additional spending.

“A colleague, frustrated at the cost constraints they worked within, was heard to say, ‘Surely, now we are making a billion, the company can buy me a new laptop.’ Buying that laptop may well have been a good investment, but reaching £1 billion profit does not make it more worthwhile,” he remarked.

Rather than focusing on profit milestones, Wolfson pointed to the company’s long-term goal of growing earnings per share (EPS), which has risen twenty-nine fold over the past three decades—from 22p to 636p.

Retail recovery and future challenges

Reflecting on the past year, Wolfson noted that 2024 marked a turning point for the retail industry.

“It is unusual for Next to begin a year on an optimistic note, yet that was our stance this time last year,” he said.

He attributed the company’s positive outlook to a stabilizing retail landscape, the fading impact of the pandemic, and an easing cost-of-living crisis.

However, he acknowledged that broader economic risks remain.

“We are as positive about the company today as we were then, albeit in an environment where the risks to the wider UK economy are growing.”

While Next remains confident in its strategy, it is preparing to navigate potential challenges posed by inflation, consumer spending fluctuations, and global economic uncertainties.

The post Next joins £1 billion profit club as sales surge; NXT stock jumps 8% appeared first on Invezz

Venezuelan oil exports to China faced disruption on Tuesday after US President Donald Trump announced a 25% tariff on countries importing Venezuelan crude, effective April 2.

The move deepens market uncertainty, especially following recent U.S. restrictions on Iranian oil shipments to China.

As part of broader sanctions on Venezuela, the Office of Foreign Assets Control (OFAC) issued General License No. 41B, allowing Chevron to wind down certain joint ventures in the country—a decision with major implications for the energy sector and US-Venezuela relations.

Chinese traders and refiners, already navigating complex global markets, were caught off guard. “The worst thing in the oil market is uncertainty. We won’t dare touch the oil for now,” a top executive from a major Chinese trading firm told Reuters.

Industry insiders urge caution, emphasizing the need to assess how the tariff will be enforced and whether Venezuelan oil imports can be identified.

Impact on Chinese buyers: a pause in imports

Chinese traders reacted fast to the tax threat by suspending April Venezuelan oil supplies.

This decision mirrors a broader reluctance among independent refiners, sometimes known as “teapots,” which account for a sizable share of Venezuelan crude purchases.

Another trade executive said to Reuters that, “It’s a total mess,” the executive said. “China is already in a tariff war with the US. So be it.”

This uncertainty raises questions about the future availability and pricing of Venezuelan oil, further aggravating already strained trade connections.

Venezuela, a country in economic difficulty, relies significantly on Chinese imports, shipping nearly 503,000 barrels per day (bpd) to its largest customer, accounting for almost 55% of its oil exports.

The majority of these barrels are rebranded as Malaysian oil, complicating traceability of origin and compliance with international sanctions.

China’s opposition to ‘unilateral sanctions’

In response to Trump’s tariff threats, China again criticized unilateral sanctions by the United States.

 ”The United States has long abused illegal unilateral sanctions and so-called long-arm jurisdiction to grossly interfere in the internal affairs of other countries,” foreign ministry spokesperson Guo Jiakun told a press briefing.

This response from China’s government reflects both the current geopolitical tensions as well as showing the commitment of China to the energy procurement strategy, irrespective of the pressure on the one side from the US.

This changing environment adds another layer of complexity to the international energy dynamic, especially for countries with ongoing internal and external economic challenges, such as Venezuela.

The future of Venezuela’s oil trade remains uncertain

Chinese traders and refiners are in a vulnerable situation as the Venezuelan oil market remains unsettled as a result of Trump’s tariff threats.

The halt in imports reflects a deep-seated concern about the unpredictable nature of US foreign policy and its possible impact on critical energy supplies.

Looking ahead, resolving these conflicts will be critical not just for Venezuela’s economy but also for global oil markets, where a consistent supply from Middle Eastern sources is dependent on geopolitical connections.

With the future of Venezuelan oil exports in doubt, industry stakeholders will be keenly monitoring developments in the hopes of finding clarity in an increasingly volatile trade environment.

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