bbc_business

Shein swings to $99m loss as Trump tariffs hit sales

📰 source: bbc_business · 💼 business

shein swung to a $99m loss in the first three months of 2025, compared with a net income of $395m a year earlier. the removal of the us de minimis exemption on small packages by president trump hit sales, as did the iran war. shein said it is considering raising prices in the us market to offset increased duties.

the fast-fashion giant also reported a $328m paper loss from an accounting change for special investor shares. it has 281 million active customers, up 16%, who placed over one billion orders. the filing is part of preparations for a hong kong ipo after failed attempts in new york and london. the china securities regulatory commission approved the listing on july 10.

earlier in july, the european union imposed a €3 levy on low-value e-commerce imports, adding more pressure. no details on ipo size or timing were given.

why it matters: tariff policy directly hits fast-fashion business models reliant on duty-free small packages, forcing price hikes and slowing growth.

source: bbc_business
sentiment: -0.50 · impact: 0.60

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects