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Morning Brew Daily

Macy’s Panics Over $154M Expense Cover Up & Space Rocket Wars Heat Up

Morning Brew Daily

Morning Brew

Business News, News, Business

4.43K Ratings

🗓️ 26 November 2024

⏱️ 31 minutes

🧾️ Download transcript

Summary

Episode 461: Neal and Toby chat about the damage control Macy’s is having to do after finding out an employee hid $154M in delivery expense from its books, right before its earnings call. Then, California Governor Gavin Newsom offers a tax credit to counteract the possible repeal of a federal tax credit for EVs by the Trump administration. Meanwhile, Toby looks at the trend of basic coding becoming less popular, and now it’s all about AI coding. Lastly, the biggest headlines to know to end your day. Download the Yahoo! Finance App (on the Play and App store) for real-time alerts on news and insights tailored to your portfolio and stock watchlists. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow 00:00 - Trump Proposed Tariffs  03:00 - Macy’s Missing $154M 07:55 - California EV Rebate 12:00 - RocketLab vs SpaceX 17:20 - Toby’s Trends 22:20 - Headlines Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Adobe Express makes it quick and easy to create everything I need for my business.

0:05.0

From social posts, TikToks and flyers, all in just a few clicks.

0:09.0

Get Adobe Express for free. Search for Adobe Express to find out more.

0:14.0

Good morning, Brood Daily show. I'm Neil Fryman.

0:19.0

And I'm Toby Howell.

0:20.0

Today, Gavin Newsom takes on Trump and Elon Musk and a Golden State electric vehicle brawl.

0:25.9

Then who is Rocket Lab, the scrappy SpaceX rival, who just sent two rockets into orbit in 24 hours?

0:32.7

It's Tuesday, November 26th. Let's ride.

0:43.6

Good morning. We are officially over halfway through this short week. Keep on going. Donald Trump dropped some pre- Thanksgiving news yesterday, clarifying some

0:49.0

details around the new tariffs he wants to impose. In a post on Truth Social, he said that he will issue executive

0:55.5

orders imposing tariffs on all imported goods from the U.S.'s three largest trading partners,

1:00.2

China, Mexico, and Canada on his first day in office. Specifically, Trump mentioned a 25%

1:06.1

tariff on Mexican and Canadian goods and a 10% tariff on Chinese goods. Neil, all signs are pointing to these things actually happening.

1:13.4

Perhaps.

1:13.9

He said that, you know, these tariffs would come as punishment for migrants and illegal

1:19.7

drugs like fentanyl coming from places like Mexico and China and said that he would put

1:24.1

these tariffs on until those were addressed. So we don't know whether

1:29.2

this is the beginning of trade war 3.0 or start of a negotiation. And we know that Trump has

1:36.5

used tariffs as a point of leverage when starting negotiations. But if these tariffs were

1:43.8

to come to past, it would cause

1:46.0

major upheaval in global trade. As you mentioned, these are the three largest trading partners

1:51.0

of the United States. We trade $600 billion worth of goods with China. And goods are valued

...

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