With the contract between the United Auto Workers union and the three major carmakers in the U.S. set to expire just shy of midnight, there is a lot at stake, including an already fragile economy. Cheddar News senior reporter Michelle Castillo talked about what the union is seeking in its new agreement and whether or not the big three automakers are willing to concede or meet somewhere in the middle.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
