Morning Business Report: Trade talks, tech moves, and a fashion comeback

The U.S. is making progress on trade deals this week, but key players remain without agreements.

(LILAMAX)- The U.S. is making progress on trade deals this week, but key players remain without agreements. Canada, Australia, and India have yet to finalize terms, while Mexico has been granted a 90-day extension. If no deals are reached, higher tariffs are set to take effect August 7.

Meanwhile, Amazon says consumers are still shopping despite tariff uncertainty. However, the company raised investor concerns as it presses ahead with massive spending on artificial intelligence. Amazon has committed up to $100 billion this year to expand its AI infrastructure and capabilities.

Despite strong earnings from Meta and Microsoft, stocks fell Thursday. Some analysts point to seasonal trends, noting that August has historically been a weak month in the year following a presidential election.

Apple, on the other hand, reported iPhone sales that exceeded expectations, as customers rushed to buy before tariffs hit. The tech giant also managed to soften the impact of China tariffs by increasing production in India. Still, some analysts say Apple is lagging behind competitors in the AI race, leaving less incentive for consumers to upgrade.

 Victoria’s Secret is bringing back its iconic fashion show. Once a major televised event known for its star-studded runway, the show was paused amid criticism for objectifying women. This year, executives say it will return with a retooled, more inclusive format.