A proposed EU-US trade agreement will maintain a 50% tariff on steel imports, a significant setback for the European steel industry. The deal, outlined to member states on Wednesday, includes a 15% baseline tariff on various goods, but steel is notably exempt from reductions. This contrasts sharply with the UK's 25% tariff on British steel, scheduled to drop to zero under a separate agreement. The EU is reportedly seeking a compromise, potentially limiting the 50% tariff to steel exports exceeding a specific quota. The EU's 15% baseline tariff is also higher than the 10% agreed upon by Britain.

The situation adds to existing pressures on the European market, with high energy costs and competition from China already impacting the steel industry. The European steel body, Eurofer, previously described a 50% tariff as catastrophic. Germany's Chancellor Friedrich Merz reportedly favors a swift resolution to stabilize investors and manufacturers, particularly within the auto sector, which is also facing challenges due to restricted Chinese rare earth exports crucial for car production. The German car industry group VDA warned of potential production stoppages.

Impact Statement: The 50% steel tariff will severely impact the EU steel industry, while the higher baseline tariff compared to the UK deal further disadvantages European exporters to the US market. The situation highlights the complex geopolitical considerations influencing trade negotiations and the vulnerability of European industries to trade disputes involving China and the US.

Apple's AirPods Max (USB-C) headphones are currently discounted by $100, selling for $449.99 at Amazon, Best Buy, and Walmart. The headphones feature high-quality materials including aluminum and memory foam, along with Apple's H1 chip for real-time audio processing and spatial audio capabilities. They offer up to 20 hours of battery life with active noise cancellation enabled and support 24-bit 48 kHz lossless audio via a USB-C to 3.5mm cable (sold separately for $39 at Amazon).

The AirPods Max (USB-C) boasts superior active noise cancellation and better audio quality than many competitors. A five-minute charge provides 90 minutes of listening time. The headphones automatically enter a low-power state after five minutes of inactivity or when placed in their Smart Case.

Impact Statement: This price reduction could significantly increase sales of the AirPods Max (USB-C) during the back-to-school shopping season.

Ironmouse, a prominent VTuber with over 2.3 million Twitch followers and 1.3 million YouTube subscribers, announced her departure from talent agency VShojo on July 21st, citing significant unpaid funds. She alleges that over $500,000 raised during a 2024 Twitch subscription marathon for the Immune Deficiency Foundation remains unpaid by VShojo. Ironmouse's announcement prompted a mass exodus, with twelve of thirteen VShojo VTubers subsequently leaving the agency, many citing similar issues with unpaid wages. Kson, another prominent VTuber with 1.3 million YouTube subscribers, confirmed unpaid funds in a July 22nd livestream.

Many departing VTubers expressed shock and heartbreak regarding Ironmouse's treatment and their own experiences with VShojo, a company that previously marketed itself as "talent first." While some VTubers are unable to explicitly detail their reasons for leaving due to legal reasons, Ironmouse launched a successful fundraising drive to replace the allegedly unpaid donation to the Immune Deficiency Foundation, raising almost $1 million with the help of her community and former colleagues.

Impact Statement: The mass exodus from VShojo casts significant doubt on the agency's business practices and may reshape the landscape of the VTuber industry.

Indiegogo, a global crowdfunding platform with 38 million members, is being acquired by Gamefound, a leading crowdfunding platform for board games. The acquisition aims to integrate Indiegogo's community with Gamefound's technology, described by Indiegogo CEO Julie dePontbriand as "the best tech in crowdfunding." Gamefound boasts six of the top ten tabletop game campaigns of last year. The merger will result in Indiegogo adopting Gamefound's pricing model: a flat 5 percent fee with no additional charges for promotion. Indiegogo will also implement Gamefound's tipping policy, giving creators 100 percent of tips. Both platforms will continue to operate independently, but Gamefound campaigns will be cross-promoted. dePontbriand will remain CEO of Indiegogo, while Gamefound CEO Marcin Świerkot will become Group CEO.

Impact Statement: This merger could significantly reshape the crowdfunding landscape, particularly within the board game industry, by combining a large user base with advanced crowdfunding technology.

Amazon announced two new additions to its Kindle Colorsoft e-reader lineup: a 16GB model priced at $249.99 and a kids bundle for $269.99. The existing 32GB Kindle Colorsoft Signature Edition remains available at $279.99. Amazon stated that customers are spending more time reading and reading more pages on the color Kindle devices compared to other Kindle models. The cheaper model offers less storage than the Signature Edition, which includes features like an auto-adjusting front light and wireless charging. The Kindle Colorsoft Kids bundle includes the 16GB model, a cover, and a year of Amazon Kids Plus. A previous issue with a yellow bar appearing on some Signature Edition screens has been addressed through software and display adjustments, according to Amazon.

Impact Statement: The expansion of the Kindle Colorsoft line could increase Amazon's market share in the e-reader market and appeal to a broader range of consumers.

The European Central Bank (ECB) maintained its key interest rate at 2% on Thursday, halting a year-long series of cuts. This decision follows a period of easing monetary policy implemented since June 2024, which halved interest rates. The ECB cited inflation returning to its 2% target as the reason for the pause. The bank offered no indication of the timing of future rate adjustments.

The ECB's decision comes amidst rising trade tensions with the United States under the Trump administration, which has introduced new tariffs. While the ECB successfully lowered consumer prices that increased after the pandemic and the 2022 Russian invasion of Ukraine, these new tariffs present a fresh challenge.

Impact Statement: The ECB's decision to hold interest rates could impact future economic growth in the Eurozone, depending on the evolution of trade relations with the United States.

Apple introduced AppleCare One, a new service offering bundled protection for up to three devices for $19.99 per month, with additional devices costing $5.99 each. The plan aims to simplify and potentially reduce costs compared to individual AppleCare Plus plans, but savings vary significantly depending on the devices covered. While Apple claims monthly savings of up to $11 for some combinations (iPhone, Apple Watch, iPad), this isn't consistent across all models; in some cases, individual AppleCare Plus plans are cheaper.

For owners of high-end devices like the iPhone 16 Pro and Apple Vision Pro, AppleCare One offers substantial savings. However, for users with more budget-friendly devices, the savings are less significant. AppleCare One, like AppleCare Plus, reduces repair costs but requires deductibles and fees for each repair. The plan also allows enrollment of devices up to four years old (or one year for headphones), a more generous timeframe than AppleCare Plus.

Apple's push into services continues, with AppleCare One potentially becoming a key part of its strategy to increase customer engagement and revenue. The service's value proposition strongly depends on individual device ownership and usage patterns.

Commerce Secretary Howard Lutnick claimed on CBS's Face the Nation (July 20) that tariffs are generating ~$30 billion monthly, helping to reduce the US deficit and strengthen the nation. However, this assertion is disputed. The Congressional Budget Office (CBO) projects that 10 years of increased tariff revenue under President Trump's policies will not cover the added deficits from his tax-and-spending legislation, totaling $3.4 trillion, in addition to the existing projected $21.8 trillion deficit over the next decade. Estimates from the CBO and a calculation based on June 2025 tariff revenue ($27 billion) both project significantly less revenue (~$2.5 trillion to ~$2.8 trillion) over ten years than the projected deficits. Further uncertainty exists due to the administration’s fluctuating tariff policies and ongoing legal challenges. Steve Ellis of Taxpayers for Common Sense stated, "I can’t envision a scenario where the tariff revenues eliminate the deficit."

The Penn-Wharton Budget Model shows that tariff revenue increased from under $48 billion in the same period of 2024 to approximately $100 billion by July 11. This increase reflects the Trump administration's more aggressive tariff policies, currently a baseline 10 percent for all countries, with additional tariffs on certain products. Economists predict that consumers will bear a significant portion of these increased tariff costs. Even if upheld on appeal, the legal challenges to these policies could limit their revenue-generating potential. A change in administration could also reverse the tariffs.

Impact Statement: President Trump's tariff policies, while increasing government revenue, are insufficient to offset projected federal deficits over the next decade, according to multiple independent analyses.

India and the UK are poised to sign a free trade agreement designed to reduce tariffs and expand market access for both nations. The deal, announced in May after years of negotiations, will see India lower tariffs on British goods such as whisky, gin, and cars, while the UK will increase imports of Indian textiles, gemstones, and other products. Indian Prime Minister Narendra Modi is currently in the UK to finalize the agreement, which is expected to boost the British economy by £4.8 billion annually and bilateral trade by an additional £25.5 billion annually by 2040. Last year, trade between the two countries totaled £42.6 billion.

The agreement, approved by the Indian cabinet, still requires UK parliamentary approval and is expected to take at least a year to come into effect. Prime Minister Modi previously described the deal as a "historic milestone" that would catalyze trade, investment, growth, job creation, and innovation. UK Prime Minister Sir Keir Starmer also lauded the deal as a "landmark" achievement that will create thousands of British jobs. Indian manufacturers will also gain increased access to the UK market for electric and hybrid vehicles.

Impact Statement: The agreement has the potential to significantly boost economic activity and create jobs in both India and the UK, although the full impact may not be felt for at least a year.

Australia has lifted biosecurity restrictions on US beef imports, reversing measures previously criticized by former US President Donald Trump. Agriculture Minister Julie Collins stated the decision followed a scientific assessment concluding that the risks associated with US beef imports are adequately managed. The restrictions, some of the world's toughest, previously prevented the acceptance of beef from cattle raised in Canada and Mexico but slaughtered in the US. A ban on US beef, implemented in response to a mad cow disease outbreak, was lifted in 2019, but other restrictions remained.

The move follows Trump's 2025 comments criticizing Australia's ban on US beef, which he linked to retaliatory tariffs. Meat & Livestock Australia, a producer-owned company, anticipates minimal market impact due to high US beef demand, a low US cattle herd, the Australian dollar's strength, domestic supply, and consumer preference for Australian beef. Despite a 10 percent tariff introduced in April 2025, Australian beef exports to the US increased by 24 percent year-on-year in June 2025.

Impact Statement: The decision is unlikely to significantly disrupt the Australian beef market due to existing consumer preferences and market dynamics.

British car and van production in the first half of 2024 reached its lowest point since 1953, excluding the COVID-19 shutdown. Car output fell 7.3%, while van production plummeted 45%, largely due to the closure of Vauxhall's Luton plant. Uncertainty surrounding US tariffs contributed to the decline, although a new US-UK tariff deal, effective June 30th, may improve confidence. The Society of Motor Manufacturers and Traders (SMMT) welcomed the government's reintroduction of electric vehicle (EV) grants but criticized the lack of clarity and industry consultation surrounding the new system.

Mike Hawes, SMMT chief executive, described the figures as "depressing" but expressed hope that the first half of 2024 represented the lowest point for the UK auto industry. While production of electrified vehicles rose 1.8%, reaching over 40% of total production, the SMMT doesn't expect a return to 2021 production levels (one million vehicles) by the end of the decade. The government's target of 1.3 million vehicles annually by 2035 is considered ambitious, requiring new entrants into the UK market. The new EV grants, up to £3,750 for EVs priced at or below £37,000, are complicated by unclear eligibility criteria based on carbon emissions during vehicle and battery production. This lack of clarity is causing confusion for both manufacturers and consumers.

The reintroduction of EV grants, totaling £650 million, will be awarded on a first-come, first-served basis. However, significant uncertainty remains regarding which models will qualify, creating challenges for the industry as September is a key period for new car registrations.

Tesla's second-quarter revenue fell to $22.5 billion, a 16 percent decline in car sales from the previous year and below analyst expectations of $22.74 billion. The decrease is attributed to lower vehicle deliveries and concerns surrounding CEO Elon Musk's increased political involvement. This follows a 14 percent decline in car deliveries reported earlier. The company's stock initially closed up slightly but fell in after-hours trading.

Musk's recent formation of a new political party, endorsements of the far-right AfD party in Germany, and past connections to the Trump administration have negatively impacted Tesla's brand reputation in the US and Europe. A series of high-profile executive departures, including a longtime confidant, further adds to investor concerns. Despite launching a refreshed Model Y SUV, Tesla reported a second consecutive quarterly revenue drop.

The company's future growth hinges on its robotaxi service, currently in a small trial in Austin, Texas, and potentially expanding to Nevada, and its development of humanoid robots. Analyst Dan Ives of Wedbush Securities suggests investors are focusing on Tesla's AI future, including its xAI firm and chatbot Grok, believing the company is poised for future growth despite current challenges.

Impact Statement: Tesla's revenue decline highlights the potential impact of a CEO's political activities on a company's financial performance and brand reputation. The company's future prospects are largely dependent on the success of its investments in AI and autonomous vehicle technology.

The 65-inch Amazon Fire TV Omni QLED Series is on sale for $449.99, matching its Prime Day price and undercutting the 55-inch model's starting cost. This smart TV boasts features including built-in microphones for Alexa voice control, low input lag, support for two-way video calling (with a compatible webcam), and access to major streaming services like Netflix, Prime Video, and Disney+. It offers 4K resolution with quantum dot technology for improved color and brightness, full-array local dimming to reduce blooming, and three HDMI 2.0 ports plus one HDMI 2.1 port with eARC. While the refresh rate is 60Hz, it supports advanced HDR formats and includes an ambient light sensor for automatic brightness adjustment.

The TV also incorporates Amazon's ambient experience, displaying artwork, photos, and Alexa widgets. Integrated microphones (with an on/off switch) enable hands-free control of various functions, including home security system integration.

Alphabet reported Q2 2025 revenue of $96.4 billion, a 14% year-over-year increase. CEO Sundar Pichai stated that AI is positively impacting all aspects of the business, citing strong performance from features like AI Overviews and AI Mode. The company plans to increase capital expenditures by $10 billion to $85 billion, potentially to match data center expansions by competitors such as OpenAI and Meta. Google Search revenue reached $54.1 billion.

Pichai's comments align with Pew research suggesting AI Overviews are effective at providing answers, albeit at the cost of website clicks. Google's I/O developer conference showcased numerous AI-focused announcements, including AI Mode for Search, upgraded video and image generation models, and Gemini AI integration. The company also unveiled a new Android 16 design.

Google awaits a ruling in the Department of Justice's antitrust lawsuit, where a judge previously declared Google a monopolist. The company also recently updated its logo.

Impact Statement: Google's strong Q2 earnings and increased investment in AI demonstrate the technology's significant impact on its business, although potential antitrust implications remain.

Tesla reported a net income of $1.17 billion on $22.5 billion in revenue for Q2, falling short of the previous year's $25.5 billion revenue and exhibiting a 16 percent decrease in net income year over year. Automotive revenue also dropped significantly, from $19.9 billion in Q2 2024 to $16.6 billion, though sales of regulatory credits partially offset this decline. The company delivered 384,122 vehicles, a 14 percent decrease compared to Q2 2024.

The decline follows a series of controversial political actions by CEO Elon Musk, including his involvement with DOGE and his announcement of a new political party. Investors have expressed concern over Musk's political distractions and the company's costly ventures into robotaxis and humanoid robots. Federal incentives for EVs are also slated to end, potentially further impacting Tesla's sales.

Tesla has responded to weakening demand with discounts and financing incentives.

Impact Statement: Tesla's financial performance reflects the potential negative impact of a CEO's significant political involvement on a major corporation's bottom line, particularly amid increased competition and changing market incentives.

Microsoft-owned Obsidian Entertainment announced a price drop for The Outer Worlds 2 from $79.99 to $69.99. The initial $79.99 price point was set earlier this year alongside a broader price increase for new Xbox first-party games and hardware. This price reduction suggests that pre-orders for The Outer Worlds 2 have been disappointing, prompting a reconsideration of the $79.99 pricing strategy.

Refunds will be issued through various platforms where the game was pre-ordered, including the Microsoft Store, Steam, and the PlayStation Store. The move raises questions about whether Microsoft will maintain its increased pricing model for future Xbox games.

Impact Statement: Microsoft's decision to lower The Outer Worlds 2's price could indicate a broader shift in its pricing strategy for Xbox games, potentially impacting future game releases and consumer spending.

Sonos announced on Wednesday that Tom Conrad has been appointed as the company's permanent CEO. Conrad had been serving as interim CEO since January following the resignation of Patrick Spence. Spence's departure came after a disastrous app launch in May 2024, which led to widespread customer anger due to bugs and the removal of features. Since then, Sonos has released several updates to address these issues and regain customer trust. Conrad, who joined Sonos' board in 2017 and previously served as chief product officer at Quibi, stated in a letter to employees that the appointment marks a "new chapter" and a return to "customer-first principles."

Under Conrad's interim leadership, Sonos undertook a restructuring, including laying off approximately 200 employees and ending its collaboration with Ikea on Symfonisk speakers. The company also launched an initiative in March to address user app complaints and released major software updates for its Ace wireless headphones and Arc soundbar.

Impact Statement: The appointment aims to stabilize Sonos following a period of significant challenges related to its app and subsequent restructuring.