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Wheels Up Experience

Wheels Up Experience Inc is a provider of on-demand private aviation in the United States. It is pioneering data and technology-driven solutions that connect consumers to safety-vetted and verified private aircraft. It connects private flyers to aircraft, and one another, through an open platform that enables life's most important experiences. Its offering is delivered through a mix of programmatic and charter options that strategically utilize its owned and leased aircraft fleet and an "asset-light" charter model to deliver a greater range of global travel alternatives. The company operates in a single operating and reportable segment, private aviation services. Geographically the company generates the majority of its revenue from the United States.

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On Friday, Vice President JD Vance said <a href="https://in.benzinga.com/news/global/25/02/43604572/jd-vance-quarterbacking-tiktok-deal-will-his-venture-capital-experience-secure-a-win">that a deal to keep</a> TikTok operating in the U.S. under American ownership is close to being finalized ahead of the April 5 deadline.
What Happened: In an <a href="https://www.nbcnews.com/politics/jd-vance/vance-high-level-agreement-tiktok-april-5-deadline-rcna196410">interview</a> with NBC News aboard Air Force Two, Vance expressed optimism that a framework to create "a distinct American TikTok enterprise" will be in place, even if all the legal paperwork isn't completed by the deadline.
"There will almost certainly be a high-level agreement that I think satisfies our national security concerns," he said.
See Also: <a href="https://www.benzinga.com/25/01/42758430/tiktok-fined-10-million-in-venezuela-as-supreme-court-blames-platform-for-failing-to-prevent-deadly-viral-challenges">TikTok Fined $10 Million In Venezuela, Funds To Be Used To Compensate Victims Of Deadly Viral Challenges</a>
"The deal itself will be very clear, but actually creating those thousands and thousands of pages of legal documents, that's the one thing that I worry could slip," Vance added.
Why It's Important: The Joe Biden-era law requires TikTok's Chinese parent company, ByteDance, to sell the app to a U.S. buyer or face a nationwide ban.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
President Donald Trump, who issued a <a href="https://in.benzinga.com/markets/25/03/44213698/us-courts-new-buyers-for-tiktok-as-deal-deadline-approaches-all-four-are-good-says-trump">75-day delay on enforcing</a> the ban upon taking office, tasked Vance and national security adviser Michael Waltz with facilitating the deal.
ByteDance has not confirmed any negotiations publicly, but several high-profile U.S. bidders, including Reddit co-founder Alexis Ohanian and entrepreneur Reid Rasner, have expressed interest.
Previously, it was reported that discussions surrounding the sale of TikTok&#8217;s U.S. operations had reached a <a href="https://in.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know">standstill with ByteDance</a> stalling negotiations as it awaited approval from Beijing.
China has reportedly taken a firm stance on the matter and may prefer allowing TikTok's U.S. branch to shut down rather than consenting to a sale unless Washington agrees to broader trade and technology concessions.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

News

Social Media

Tech

Media

TikTok Ban Deadline Looms, But Vice President JD Vance Confirms 'High-Level' US Ownership Deal Is Nearly Done

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://in.benzinga.com/tech/25/02/43903365/apple-ditches-budget-smartphone-segment-with-iphone-16e-launch">newly released</a> iPhone 16e is off to a strong start, but analysts say it won't be enough to offset the tech giant's declining sales in China this year.
What Happened: According to IDC, sales of the iPhone 16e in its first three days were 60% higher than those of the third-generation iPhone SE launched in 2022, <a href="https://www.bloomberg.com/news/articles/2025-03-14/apple-s-iphone-16e-is-outselling-iphone-se-but-won-t-reverse-china-slide?cmpid%3D=socialflow-twitter-tech&amp;utm_medium=social&amp;utm_content=tech&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter">reported</a> Bloomberg.
The <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">new $599 model replaces</a> the $429 iPhone SE, offering a refreshed budget option for consumers. However, the device features only a single rear camera, limited base storage, and lacks advanced AI capabilities — a disadvantage in China's competitive smartphone market.
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
IDC projects Apple's overall sales in China will fall about 2% in 2025. "The competition from Android will be even stronger, strengthened by the national China subsidies which will benefit Android significantly more than Apple," stated Nabila Popal, IDC's senior director.
While Apple plans to roll out its <a href="https://www.benzinga.com/markets/25/02/43683976/apple-intelligence-rollout-in-china-and-europe-to-boost-iphone-sales-says-deepwaters-gene-munster">Apple Intelligence AI suite in China</a> later this year, that may not be enough to shift consumer sentiment, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: Apple may find success elsewhere. IDC expects the iPhone 16e to account for up to 20% of iPhone sales in India in the second half of 2025.
Apple previously reported an 11% sales decline in China over the holiday period, with the iPhone likely a key contributor.
Apple reported $124.3 billion in revenue for its <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">fiscal first quarter</a>, surpassing analysts&#8217; expectations of $124.13 billion. iPhone sales reached $69.14 billion, slightly lower than the $69.7 billion recorded in the same period last year.
Price Action: Apple&#8217;s stock closed at $213.49 on Friday, rising 1.82% for the day. However, it edged down 0.094% in after-hours trading. Year to date, AAPL is down 12.45%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/legal/25/03/44344993/apple-reportedly-fights-uk-governments-unacceptable-encryption-order-behind-closed-doors-no-press-or-public-allowed">Apple Reportedly Fights UK Government&#8217;s &#8216;Unacceptable&#8217; Encryption Order Behind Closed Doors — No Press Or Public Allowed</a></li>
</ul>
Photo courtesy: Apple

AAPL

Apple's iPhone 16e Outsells iPhone SE By 60%, But Analysts Say It Won't Stop China Sales From Sliding In 2025

Ray Dalio, founder of Bridgewater Associates, has raised alarms about the United States&#8217; national debt, predicting an imminent crisis.
What Happened:&nbsp;According <a href="https://fortune.com/2025/03/12/national-debt-burden-ray-dalio-foreign-government-pressure/">to</a>&nbsp;a report by Fortune, Dalio expressed his concerns during his speech at the CONVERGE LIVE event in Singapore on Thursday.
Dalio highlighted a severe imbalance between supply and demand, noting that the debt-to-GDP ratio has reached 122%, surpassing the nation&#8217;s economic output. He warned that the U.S. might soon face difficulties selling its debt, as foreign investors like China and Japan are pulling back.
The&nbsp;Congressional Budget Office (CBO)&nbsp;projects that the debt ratio could escalate to 166% by 2054.
"We have a very severe supply and demand problem. Some people think we'll handle it because we've handled it so far. I don't think they understand the mechanics of debt," he said, according to the report.
Dalio emphasized that the U.S. will eventually need to sell debt that global markets may not be interested in purchasing, a scenario he described as &#8220;paramount importance.&#8221;
Dalio suggested that the current&nbsp;federal budget deficit of 7.2%&nbsp;of GDP is unsustainable, advocating for a reduction to around 3%.
He hinted at potential measures such as debt restructuring and political pressure on foreign governments to purchase U.S. debt.
Joao Gomes, a finance professor at Wharton Business School, echoed Dalio&#8217;s concerns, noting the declining interest from traditional debt buyers. He warned that if investors demand higher interest rates, it could lead to significant economic disruptions.
Why It Matters: Dalio&#8217;s warnings are not new, but they are increasingly urgent.
In February, he <a href="https://www.benzinga.com/markets/25/02/43756938/ray-dalio-warns-of-looming-us-debt-crisis-says-america-faces-economic-heart-attack-without-fiscal-cuts">cautioned</a> that the U.S. faces an &#8220;economic heart attack&#8221; if fiscal cuts are not made, comparing the $36 trillion national debt to plaque in the financial system&#8217;s arteries.
He emphasized the need for fiscal responsibility, urging the government to <a href="https://www.benzinga.com/25/02/43966706/ray-dalio-urges-trump-to-cut-deficits-to-3-of-gdp-within-three-years-or-let-the-economy-suffer">reduce deficits to 3% of GDP</a> within three years, or risk economic instability.
His systematic approach to understanding global economic cycles highlights debt as a critical factor, likening it to the circulatory system of financial markets.
The urgency of Dalio&#8217;s message is <a href="https://www.benzinga.com/markets/25/03/44267663/ray-dalio-warns-us-debt-crisis-could-trigger-shocking-developments-calls-to-reduce-deficit-at-3-of-gdp">underscored</a> by the potential for &#8220;shocking developments&#8221; if the U.S. does not address its debt issues promptly.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44345006/arthur-hayes-predicts-bitcoin-surge-to-250000-by-year-end-says-current-downturn-is-clearing-out-deadwood-short-te">Arthur Hayes Predicts Bitcoin Surge To $250,000 By Year-End, Says Current Downturn Is Clearing Out Deadwood: ‘Short-Term Pain'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Economics

Ray Dalio Has A Chilling Warning For President Trump: Debt Crisis Is Imminent, And An Issue Of 'Paramount Importance'

Arthur Hayes, co-founder of&nbsp;BitMEX, has projected a significant increase in Bitcoin&#8217;s value, anticipating it will reach $250,000 by the close of the year.
What Happened:&nbsp;Hayes suggests that the current downturn in the crypto market is a temporary setback, part of a natural cycle.
In a recent interview, Hayes explained that the market is experiencing a correction after Bitcoin&#8217;s surge from $20,000 to $110,000.
"This thing is a short-term pain. We're clearing out the deadwood. We had a great run from $20,000 to $110,000 on Bitcoin, essentially FTX low until TRUMP coin, and now we got a 30% correction. It's pretty normal for a bull market," he said.
"I think we're going to clear out all that deadwood, and I still believe that we could be $250,000 Bitcoin by the end of the year."
He emphasized that such corrections are typical in bull markets and are necessary to eliminate weak elements from the market. Hayes remains optimistic about Bitcoin&#8217;s potential, despite the current 30% correction.
"From Bitcoin's perspective, and overall market capitalization of crypto, I think we're going to be much higher by the end of the year than we are today."
Hayes also highlighted the role of increased monetary supply as a catalyst for Bitcoin&#8217;s growth.
He believes that governments will continue to print money to counteract economic challenges, which will, in turn, drive up the value of digital assets.
&#8220;We&nbsp;know the response. When there's&nbsp;financial distress, they always print&nbsp;money.&#8221;
Why It Matters: The prediction by Hayes aligns with other optimistic forecasts in the crypto space. Recently,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44317256/bitcoin-to-hit-250k-by-end-of-2025-tim-draper-predicts-will-be-the-dominant-currency-of-the-world">Tim Draper</a>, a venture capitalist known for his accurate Bitcoin predictions, reiterated his belief that Bitcoin would reach $250,000 by the end of 2025.
Draper has a history of making bold predictions, including a successful call for Bitcoin to hit $10,000 within three years back in 2014.
Additionally,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42719735/bitcoin-could-surge-past-250000-says-tom-lee-citing-btc-halving-cycles-and-us-government-adoption">Tom Lee</a>&nbsp;of Fundstrat has also pointed to Bitcoin's halving cycles and potential government adoption as factors that could propel Bitcoin past $250,000. Lee highlights the recent halving event as a key driver, noting that Bitcoin has already demonstrated significant growth, with its market capitalization nearly doubling in 2024.
Despite the current market correction, Hayes remains confident, urging investors to be patient.
In a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44256405/arthur-hayes-be-patient-bitcoins-36-correction-is-just-another-bull-market-move">recent post</a>, he suggested that Bitcoin could find support around $70,000, a typical retracement level during bull markets. Hayes also anticipates a major stock market crash and the failure of a key financial institution before central banks intervene with liquidity measures.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="We're Still In A Bull Cycle" width="500" height="281" src="https://www.youtube.com/embed/A4uj2G5uAug?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Price Action: Bitcoin was trading at $84,462, up 3.2% in the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44344973/nasa-spacex-one-step-closer-to-bring-back-astronauts-butch-wilmore-sunita-williams-stranded-due-to-boeings-starli">NASA, SpaceX One Step Closer To Bring Back Astronauts Butch Wilmore, Sunita Williams Stranded Due To Boeing's Starliner Issues</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

Arthur Hayes Predicts Bitcoin Surge To $250,000 By Year-End, Says Current Downturn Is Clearing Out Deadwood: 'Short-Term Pain'

A highly secretive court hearing believed to be Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) appeal against a U.K. government demand for <a href="https://in.benzinga.com/markets/equities/25/02/43996531/tulsi-gabbard-slams-uks-apple-encryption-demand-as-egregious-violation-of-americans-privacy-warns-of-cyber-threats">backdoor access</a> to its encrypted cloud systems took place Friday in London — with the public and media barred from attending.
What Happened: The BBC and other outlets reported that the hearing, listed only as "an application in private" at the Investigatory Powers Tribunal, centered on a controversial "technical capability notice" (TCN) issued to Apple by the British government.
The TCN reportedly requires the company to weaken its <a href="https://www.benzinga.com/markets/equities/25/02/43901425/apple-bows-out-of-uks-cloud-encryption-amid-governments-backdoor-demands">end-to-end encryption</a> protections, including Advanced Data Protection for iCloud, which Apple has since disabled for new users in the UK.
Neither Apple nor the UK government has confirmed the case or the existence of the order. Top government lawyer James Eadie, KC attended the hearing, reported Reuters.
A lawyer representing 10 media organizations, including Reuters and the BBC, petitioned for the case to be held in public, but no press or public access was granted. The court acknowledged the request but did not allow further arguments before the judges.
See Also: <a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
Why It's Important: The closed-door nature of the hearing has drawn criticism from civil liberties groups, who say the U.K.'s demand undermines global digital privacy.
It was "unacceptable and disproportionate," said Caroline Wilson Palow, legal director at Privacy International.
Privacy advocates warn the UK's move could violate international agreements, including the CLOUD Act, and set a dangerous precedent. U.S. officials have reportedly raised concerns, with President Donald Trump <a href="https://in.benzinga.com/media/25/03/44069785/trump-blasts-uks-apple-encryption-order-warns-against-grave-privacy-violations-thats-something-you-hear-about-with-china">calling the request something</a> "you hear about in China."
Price Action: Apple&#8217;s shares ended Friday at $213.49, gaining 1.82% for the day. However, in after-hours trading, the stock dipped 0.094%. Year to date, AAPL has declined 12.45%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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<li><a href="https://www.benzinga.com/news/25/02/44055314/mrbeast-lost-millions-on-amazons-beast-games-now-hes-looking-to-raise-hundreds-of-millions-to-take-h" target="_blank" rel="noreferrer noopener">MrBeast Lost Millions On Amazon's ‘Beast Games'—Now He's Looking To Raise Hundreds Of Millions To Take His Brand To The Next Level</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Legal

Apple Reportedly Fights UK Government's 'Unacceptable' Encryption Order Behind Closed Doors — No Press Or Public Allowed

NASA and&nbsp;Elon Musk-led SpaceX&nbsp;successfully launched a new&nbsp;crew to the International Space&nbsp;Station (ISS) on Friday, aiming to bring back U.S. astronauts&nbsp;Butch Wilmore and Sunita Williams, who have been on the ISS for an extended period of nine months.
What Happened: The launch occurred at 7:03 p.m. ET from NASA&#8217;s&nbsp;Kennedy Space Center in Florida. The&nbsp;SpaceX Falcon 9&nbsp;rocket carried four astronauts to replace Wilmore and Williams.
This&nbsp;mission is part of a&nbsp;crew rotation plan that was expedited due to political pressure from&nbsp;President Donald Trump&nbsp;and SpaceX CEO Musk.
The Crew-10 mission is essential for returning Wilmore and Williams to Earth. Initially, they were sent to the ISS aboard&nbsp;Boeing Co.&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Starliner capsule in June.
The Crew-10 team comprises NASA astronauts&nbsp;Anne McClain&nbsp;and&nbsp;Nichole Ayers, Japanese astronaut&nbsp;Takuya Onishi, and Russian cosmonaut&nbsp;Kirill Peskov.
Upon reaching orbit, McClain introduced a plush origami crane as the mission&#8217;s microgravity indicator. The Crew-10 astronauts are expected to arrive at the ISS&nbsp;on Saturday at 11:30 p.m.&nbsp;ET.
Wilmore and Williams are scheduled&nbsp;to depart with two other astronauts on Sunday.
Why It Matters: The mission <a href="https://www.benzinga.com/25/03/44296357/spacex-crew-10-astronaut-launch-to-bring-back-stuck-astronauts-delayed-due-to-hydraulics-issue-says-nasa">faced a delay</a> due to a hydraulics issue, which postponed the launch initially scheduled for Wednesday. This delay added to the challenges faced by SpaceX and NASA in the crew rotation process.
Earlier, Musk <a href="https://www.benzinga.com/general/space/25/02/43877217/spacex-ceo-elon-musk-pegs-delay-in-returning-sunita-williams-and-butch-wilmore-from-space-station-to-political-reasons">attributed</a> the delay in returning Wilmore and Williams to &#8220;political reasons,&#8221; suggesting that the return was postponed past the inauguration date of former President Joe Biden.
However, Wilmore <a href="https://www.benzinga.com/general/space/25/02/43877217/spacex-ceo-elon-musk-pegs-delay-in-returning-sunita-williams-and-butch-wilmore-from-space-station-to-political-reasons">refuted these claims</a>, stating that politics did not play a role in the delay.
The mission&#8217;s success is crucial, especially after <a href="https://www.benzinga.com/news/24/09/40758526/boeing-starliner-returns-to-earth-without-sunita-williams-and-butch-wilmore-lands-in-new-mexico-afte">Boeing's Starliner returned</a> to Earth without crew due to technical issues.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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<li><a href="https://www.benzinga.com/25/03/44344906/canadas-retaliatory-tariffs-against-us-draw-commerce-secretary-howard-lutnicks-ire-who-thinks-they-are-tone-deaf-">Canada's Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick's Ire Who Thinks They Are ‘Tone Deaf'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: NASA

SPACE

NASA, SpaceX One Step Closer To Bring Back Astronauts Butch Wilmore, Sunita Williams Stranded Due To Boeing's Starliner Issues: Replacement Crew Launches Successfully

Canadian retailers continue to take a stand against U.S. products, starting with non-essential items such as alcohol. This move, driven by recent tariff disputes, is affecting various segments of the agricultural supply chain.
What Happened:&nbsp;Alisa Gorokhova, a resident from Quebec, observed a rapid shift in consumer behavior following tariff announcements, according <a href="https://www.businessinsider.com/canadian-grocers-sideline-us-products-boycott-hit-us-agriculture-businesses-2025-3">to</a> a report by Business Insider.
&#8220;There&#8217;s suddenly &#8216;made in Canada&#8217;&nbsp;labels on things and American&nbsp;booze is gone from the&nbsp;shelves,&#8221; she mentioned, indicating a growing preference for Canadian-made products.
The boycott is a response to repeated tariff impositions by former President&nbsp;Donald Trump, including&nbsp;a 25% tax on Canadian&nbsp;steel and aluminum. Trump&#8217;s controversial remarks about Canada have further strained relations.
American businesses are feeling the&nbsp;impact.&nbsp;Ethan Frisch, CEO of&nbsp;Burlap &amp; Barrel, reported losing Canadian customers.
&#8220;We're&nbsp;not really sure how to&nbsp;handle this,&#8221; Frisch stated, as the boycott contradicts his company&#8217;s mission of supporting small farmers, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44271204/tsmc-proposes-joint-venture-with-nvidia-amd-and-broadcom-to-operate-intels-factories-report">TSMC Proposes Joint Venture With Nvidia, AMD And Broadcom To Operate Intel&#8217;s Factories: Report</a>
Large Canadian grocery chains like&nbsp;Sobeys Inc.&nbsp;and&nbsp;Metro Inc.&nbsp;are emphasizing local products. Sobeys, for instance, is working to reduce its reliance on U.S. goods, which previously accounted for 12% of sales.
Why It Matters: The trade tensions between the United States and Canada have escalated significantly.
Canada <a href="https://www.benzinga.com/news/25/03/44281882/canada-retaliates-with-20b-in-tariffs-on-us-goods-amid-trade-war">imposed 25% tariffs</a> on over $20 billion worth of U.S. goods, including steel and aluminum, as a countermeasure to the Trump administration&#8217;s new duties.
This move was confirmed by Canadian Finance Minister&nbsp;Dominic LeBlanc, who stated that the tariffs would take effect immediately. The situation intensified when Canada announced additional tariffs on $30 billion of U.S. goods earlier in March.
Further complicating matters,&nbsp;<a href="https://www.benzinga.com/25/03/44344906/canadas-retaliatory-tariffs-against-us-draw-commerce-secretary-howard-lutnicks-ire-who-thinks-they-are-tone-deaf-">Canada&#8217;s retaliatory tariffs</a>&nbsp;have drawn criticism from U.S. Commerce Secretary&nbsp;Howard Lutnick, who described them as &#8220;tone deaf.&#8221;
Meanwhile,&nbsp;<a href="https://www.benzinga.com/news/25/03/44326649/does-canada-really-have-a-250-tariff-in-place-on-us-dairy-products-imported-into-canada-here-are-the-facts">claims of high tariffs</a>&nbsp;on U.S. dairy products have added to the tension, with President Trump accusing Canada of unfair trade practices.
Additionally,&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;has been affected, as its products were <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded from rebates</a> in British Columbia amid these trade tensions.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Politics

Global

TSLA

Canadian Grocers Boycott US Products As Tariffs, Trump's Annexation Remarks Worsen Tensions: 'American Booze Is Gone From The Shelves'

A U.S. appeals court has permitted the Trump administration to temporarily enforce&nbsp;a ban on diversity, equity, and inclusion (DEI) programs within federal agencies and businesses holding government contracts.
What Happened: A U.S. appeals court has allowed the Trump administration to temporarily enforce&nbsp;a ban on diversity, equity, and inclusion (DEI)&nbsp;programs at federal agencies and&nbsp;businesses with government contracts.
According to&nbsp;a Reuters report, the Richmond-based&nbsp;4th U.S. Circuit Court of&nbsp;Appeals ruled on Friday that President&nbsp;Donald Trump&#8216;s directives, including an order for&nbsp;the Department of Justice to&nbsp;investigate DEI policies, are likely constitutional.
This decision overturns a previous ruling by a Maryland federal judge.
Two judges on the panel expressed disagreement with the substance of Trump&#8217;s orders, cautioning that implementing them might risk constitutional violations.
Circuit Judge Albert Diaz stated that DEI advocates deserve praise, while Circuit Judge Allison Rushing emphasized that personal opinions on DEI should not influence the case&#8217;s outcome.
The decision affected a lawsuit filed by the city of Baltimore and three groups, which remained in effect pending the Trump administration&#8217;s appeal.
The White House and Justice Department have not commented, while Democracy Forward, representing the plaintiffs, is reviewing the decision.
Trump&#8217;s orders aim to eliminate DEI initiatives, which he argues are discriminatory, from both government and private sectors.
Why It Matters: The ruling comes amid a broader political and policy shift affecting DEI initiatives.
Recently, the&nbsp;<a href="https://www.benzinga.com/25/03/44200499/national-institutes-of-health-terminates-some-research-grants-amid-political-and-policy-shift">National Institutes of Health (NIH)</a>&nbsp;began cutting funding for research grants that do not align with agency priorities, specifically targeting studies on transgender populations and DEI.
Additionally, in January, President Trump controversially linked DEI policies to a tragic&nbsp;<a href="https://www.benzinga.com/25/01/43402439/trump-musk-blame-dei-for-plane-crash-authorities-look-at-staffing-congestion-for-answers-search-continues-after-41-bodies-found">plane crash</a>&nbsp;involving an American Airlines plane and an Army helicopter, which resulted in 67 fatalities.
This incident further fueled the administration&#8217;s stance against DEI, as Trump suggested that staffing and regulatory changes influenced by DEI could have contributed to the crash.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump's Ban On DEI Programs Allowed For Now By Appeals Court

In a significant escalation of trade tensions,&nbsp;Canada&nbsp;has introduced retaliatory tariffs against the U.S., prompting criticism from&nbsp;Commerce Secretary Howard Lutnick. The move follows the Trump administration&#8217;s recent trade measures targeting Canadian exports.
What Happened: Lutnick expressed dissatisfaction with Canada&#8217;s &#8220;tone deaf&#8221; approach in an interview ahead of a meeting with Canadian officials on Thursday.
Canada&#8217;s tariffs target $15.6 billion&nbsp;worth of U.S. steel and&nbsp;aluminum, mirroring the U.S. tariffs on metals. Additionally, Canada imposed tariffs on $14.2 billion worth of other goods, including tools, computers, and sports equipment.
Lutnick criticized these measures, stating, &#8220;We&nbsp;put a tariff on steel&nbsp;and aluminum to make sure&nbsp;the dumping countries of the&nbsp;world stop&#8230;&nbsp;And what does Canada do?&nbsp;They put a tariff on&nbsp;sports equipment.&#8221;
"I mean really? This is just tone deaf," he said, according <a href="https://fortune.com/2025/03/14/commerce-secretary-howard-lutnick-canada-trump-tariff-response-mexico-uk/">to</a> Fortune.
Lutnick defended the U.S. tariffs as necessary for national security, emphasizing the importance of domestically produced materials for defense purposes.
He accused Canada of relying heavily on the U.S. for protection while contributing less to NATO, citing Canada&#8217;s 2024 contribution of $30.5 billion compared to the U.S.&#8217;s $967 billion.
Despite the tensions, Ontario Premier Doug Ford described the meeting with Lutnick as &#8220;productive&#8221; and expressed optimism about future discussions. Both countries&#8217; tariffs remain in place, but Ford praised Lutnick&#8217;s business acumen and negotiation skills.
Why It Matters: The trade tensions between the U.S. and Canada have been escalating, with Canada announcing plans to impose 25% tariffs on over $20 billion worth of U.S. goods.
This move <a href="https://www.benzinga.com/news/25/03/44281882/canada-retaliates-with-20b-in-tariffs-on-us-goods-amid-trade-war">targets</a> a wide range of products, including steel, aluminum, and sports equipment. The Canadian response is a direct counter to the U.S. tariffs on metals, which were justified by the Trump administration on national security grounds.
Elon Musk-led Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen its products <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded</a> from rebates in British Columbia, a move linked to the ongoing trade tensions.
This exclusion affects Tesla&#8217;s electric vehicle charging stations and home batteries, highlighting the broader impact of the trade dispute on various industries.
Furthermore, the dairy sector has been a point of contention, with high tariffs on U.S. dairy products being a <a href="https://www.benzinga.com/news/25/03/44326649/does-canada-really-have-a-250-tariff-in-place-on-us-dairy-products-imported-into-canada-here-are-the-facts">longstanding issue</a>. These tariffs can reach up to 298.5% when U.S. exports exceed quotas set under the United States-Mexico-Canada Agreement.
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44299887/tsla-stock-may-see-a-significant-upswing-says-jim-cramer-should-be-ready-to-rally-maybe-furiously">TSLA Stock May See A Significant Upswing, Says Jim Cramer: &#8216;Should Be Ready To Rally, Maybe Furiously&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Canada's Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick's Ire Who Thinks They Are 'Tone Deaf:' 'The British Didn't Respond, The Mexicans Didn't Respond…'

SAIH

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

FAMI

BHAT

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SPGC

ADTX

WLDS

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) has outperformed the market over the past 5 years by 25.72% on an annualized basis producing an average annual return of 43.07%. Currently, Freeport-McMoRan has a market capitalization of $55.69 billion. 
Buying $1000 In FCX: If an investor had bought $1000 of FCX stock 5 years ago, it would be worth $6,225.96 today based on a price of $38.75 for FCX at the time of writing.
<h3>Freeport-McMoRan's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741995909_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much You Would Have Made Owning Freeport-McMoRan Stock In The Last 5 Years

PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) has outperformed the market over the past 5 years by 1.09% on an annualized basis producing an average annual return of 18.45%. Currently, PENN Entertainment has a market capitalization of $2.62 billion. 
Buying $100 In PENN: If an investor had bought $100 of PENN stock 5 years ago, it would be worth $200.12 today based on a price of $17.10 for PENN at the time of writing.
<h3>PENN Entertainment's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741995008_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

PENN

$100 Invested In PENN Entertainment 5 Years Ago Would Be Worth This Much Today

Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) has outperformed the market over the past 10 years by 7.0% on an annualized basis producing an average annual return of 17.38%. Currently, Visa has a market capitalization of $639.27 billion. 
Buying $1000 In V: If an investor had bought $1000 of V stock 10 years ago, it would be worth $4,958.34 today based on a price of $331.40 for V at the time of writing.
<h3>Visa's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741994115_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 10 Years Ago, You Would Have This Much Today

Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) has built its reputation on low prices, loyal customers, and a business model that rarely wavers. In a recent interview with <a href="https://chiefexecutive.net/the-costco-way-a-conversation-with-tony-james/">Chief Executive</a> magazine, Chair Hamilton "Tony" James reflected on the late Charlie Munger's deep influence on the company.&nbsp;
Munger, best known as <a href="https://www.benzinga.com/startups/25/02/43451833/warren-buffetts-1m-bet-why-simple-index-funds-crushed-hedge-funds-by-7-1-to-2-2-over-a-decade">Warren Buffett'</a>s longtime partner at Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)), spent over 25 years on Costco's board, pushing a simple but effective message: "Stick to our knitting, our values, and our principles." That philosophy has shaped how the retailer operates to this day.
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<h2 class="wp-block-heading">Munger's Influence on Costco's Growth</h2>
Munger wasn't just a board member—he was a true believer. He once called himself a "total addict" of the store, adding, "I love everything about Costco. I'm never going to sell a share." And he meant it. <a href="https://www.fool.com/investing/2023/11/01/billionaire-investor-charlie-munger-costco-stock/">The Motley Fool</a> reported his stake in the company was worth over $100 million in 2023.
One of Costco's most famous traditions—the $1.50 hot dog and soda combo—stands as proof of its commitment to keeping prices low. It hasn't changed since 1985, even as costs rise everywhere else.
When former CEO Craig Jelinek suggested raising the price, co-founder Jim Sinegal reportedly shut him down: "If you raise the [price of the] effing hot dog, I will kill you. Figure it out." To save on costs, Costco switched from Coca-Cola to Pepsi in 2013.
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
Now, the company plans to bring back Coca-Cola products in its food courts. The company's ability to attract all kinds of shoppers, including wealthy ones, is another reason for its success.&nbsp;
James pointed out that "affluent people love a good deal." That's why Costco stocks luxury items like Rolex watches, Dom Perignon champagne, and 10-carat diamonds. A Porsche dealership in Seattle even displayed cars at a Costco warehouse once, and they sold out in a week.
But not everyone sees Costco's model as foolproof. Some suppliers have complained about its aggressive cost-cutting. A former vendor, in a post on<a href="https://www.reddit.com/r/Costco/comments/istmpc/costco_ruined_my-business_warning-and-rant/"> Reddit</a>, claimed that Costco's pricing demands forced them to slash wages and adopt unsustainable practices.&nbsp;
See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>
Others question how long the company can rely on low-margin goods and membership fees.<a href="https://www.investopedia.com/articles/markets/011216/4-problems-costcos-business-model-cost.asp"> Investopedia</a> notes that this approach could put long-term pressure on earnings.
Recent financial results have also raised concerns. Rising merchandise <a href="https://www.benzinga.com/personal-finance/25/03/44147801/egg-prices-hit-record-4-95-per-dozen-agriculture-secretary-blames-overregulation-for-skyrocketing-cost">costs</a> led Costco to miss profit estimates, <a href="https://www.reuters.com/business/retail-consumer/costco-beats-quarterly-sales-estimates-bulk-buying-surge-2025-03-06/">Reuters</a> reported. Still, the retailer's bulk-selling strategy and loyal customer base keep it strong.
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Personal Finance

COST

Why Charlie Munger Never Sold A Single Costco Share—The Billionaire Investor Called Himself A 'Total Addict' Of The Store

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