News for May 1, 2025

Apple says Trump’s tariffs could add about $900m to its costs this quarter, even as it shifts more US-bound iPhone production to India and other devices to Vietnam.

McDonald's reported its biggest U.S. sales drop since the COVID-19 pandemic, saying tariff-driven economic worry is hurting lower-income customers and reducing traffic.

Amazon denied it would show tariff charges on product pages, while Shein and Temu are already passing import costs on to shoppers through higher prices and added fees.

Nvidia and Anthropic are clashing over U.S. chip export limits, with Nvidia saying Anthropic is exaggerating smuggling risks to support tighter rules on China.

Dominion Energy says data center demand in its northern Virginia market is still strong, even as some investors worry the boom could slow.

Microsoft is raising Xbox prices on consoles, controllers, and some headsets, saying higher market costs and tariffs are forcing the changes.

General Motors cut its 2025 outlook after warning that President Donald Trump’s auto tariffs could cost it up to $5 billion this year.

A Southwest Airlines flight was sent back to the gate in El Paso after a passenger’s cellphone battery appeared to catch fire, and the FAA said it will investigate.

Boston Medical Center Health System is renaming two hospitals it now runs to bring them under one shared brand.

Trump is replacing national security adviser Mike Waltz with Marco Rubio after a Signal chat scandal, while the administration also pushed several major court fights on immigration and federal policy.

LeBron James said he is not ready to decide whether he will keep playing after the Lakers’ first-round playoff exit.

McDonald's reported its biggest drop in US sales since the Covid-19 pandemic as worried consumers cut back spending.

Tesla denied a report that it is looking for a new CEO, saying Elon Musk remains in charge even as the company faces weaker sales and profits.

A woman is suing American Airlines, saying the company let a man with prior sexual abuse allegations fly and then failed to protect or support her after she says he assaulted her on a flight.

McDonald's reported its biggest U.S. sales drop since 2020 as more budget-conscious shoppers visited less and cut back on meals out.

A federal judge ruled that Apple broke an App Store reform order and said the case may be sent to federal prosecutors.

Elon Musk says he is scaling back his near full-time role in the Department of Government Efficiency so he can focus more on running Tesla and his other businesses.

Trump’s China tariffs are making it harder and more expensive for U.S. fireworks companies to bring in supplies for July Fourth shows.

Tesla has denied a report that it is looking for a new chief executive to replace Elon Musk, saying he remains the company’s CEO and has its full support.