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Apple is investing $99 million in China. The money will help the tech giant reach its goal to transition to a 100% renewable energy supply chain by 2030.
…Meanwhile, Hyundai is investing $21 billion in the U.S. The move is meant to boost the South Korean car maker’s supply chain and dodge Trump’s tariffs.
BYD stock popped on Monday. The Chinese EV maker surpassed 2024 sales and profit expectations and overtook Tesla in revenue.
Target’s problems continue. The retail giant is reducing worker bonuses due to weak consumer spending and inflationary pressures.
Wegovy just got cheaper for even more patients. Uninsured patients can now get Novo Nordisk’s weight-loss drug for $499 a month from their local pharmacy.
23andMe is shutting down. CEO Anne Wojcicki resigned after the company that popularized consumer genetic testing filed for Chapter 11 bankruptcy.
Mag 7 stocks are climbing again. Investors are breathing a sigh of relief amid reports that the White House may exclude certain industry-specific tariffs on April 2.
Trump is threatening tariffs on nations that trade with Venezuela. He warned countries that buy oil and gas from Venezuela could face a 25% tariff.
Obama joins Bluesky
Former President Barack Obama has joined Bluesky, the social media platform that has emerged as an alternative to Elon Musk’s X — formerly known as Twitter. While still active on X, Obama joins other left-leaning figures like Bernie Sanders and Alexandria Ocasio-Cortez on Bluesky.
Originally a Twitter project under then CEO Jack Dorsey, Bluesky launched publicly last year, mirroring Twitter’s pre-Musk design.
Its rise has been fueled by backlash against Musk’s political moves and changes to X.
How much has Bluesky grown since its launch? Quartz’s Ece Yildirim has the details.
U.S. manufacturing is shrinking
Manufacturing in the U.S. contracted again in March after briefly growing in January and February, according to the flash manufacturing Purchasing Managers Index (PMI). The overall reading fell to 49.8 — anything under 50 signals contraction — with employment shrinking and new orders slowing. Additionally, input costs rose sharply compared to output prices.
Citi analysts say the broader economy is likely slowing, noting that early 2025’s manufacturing strength was due “some pulling forward of demand ahead of tariffs.” With some tariffs now in place, contraction has resumed.
What other pressures are manufacturers experiencing? Quartz’s Josh Fellman breaks it down.
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