Wall Street Breakfast Samsung warns of 56% profit slide
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Jul 8, 2025 Samsung predicts a staggering 56% drop in profits as U.S. restrictions impact its AI chip sector. Meanwhile, Family Dollar breaks away from Dollar Tree in a surprising twist. The Energy Department raises alarms about potential U.S. blackouts by 2030, driven by an over-reliance on renewables. Additionally, military aid to Ukraine resumes and Epic Games settles a significant antitrust case against Samsung, highlighting a bustling landscape of economic and market shifts.
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Samsung's Profit Drop Insight
- Samsung's Q2 operating profit is expected to drop 56% due to chip business challenges.
- U.S. trade restrictions on China are a major factor behind Samsung's profit decline.
Dollar Tree Completes Family Dollar Sale
- Dollar Tree completed selling its Family Dollar business for $1.08 billion cash.
- Net proceeds from the sale are estimated around $800 million after adjustments.
Energy Dept Warns Blackout Risks
- The U.S. Energy Department warns that reliance on renewables risks doubling blackouts by 2030.
- AI-driven data centers increase electricity demand amid retiring reliable power sources.