- Apple announced that CFO Luca Maestri will be replaced by Kevan Parekh, the company’s VP of financial planning and analysis, on Jan 1. Maestri, who became CFO in 2014, oversaw significant growth, with stock rising over 800%. Apple shares dipped 0.3%. Additionally, Apple plans to unveil new iPhones and Apple Watch models at a Sept 9 event.
- Canada announced it will impose 100% import tariffs on electric vehicles made in China, alongside a 25% tariff on steel and aluminum imports. The move aims to address what Canada describes as “unfair” competition from China.
- Shares of PDD Holdings, parent company of Temu, plunged nearly 29% after missing expectations in its second-quarter results, marking the company’s largest one-day loss since its Nasdaq listing.
