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John Deere reported third-quarter earnings Thursday that beat Wall Street estimates.
Still, the agricultural machinery company said it took a $200 million hit from global tariffs in the quarter.
The company estimates the pre-tax impact of tariffs for the fiscal 2025 year will reach $600 million.

The John Deere logo is displayed as attendees view a 5105M utility tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025.
Patrick T. Fallon | AFP | Getty Images

John Deere is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.
The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.

The stock sank roughly 7% in midday trading.
The company noted that operating profits for the quarter decreased primarily due to higher tariffs and production costs associated with it.
Deere’s Director of Investor Relations John Beal said on an earnings call with analysts Thursday that the company took a significant hit in the third quarter due to tariffs.
“Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year-to-date based on tariff rates in effect as of today,” Beal said. “Our forecast for the pre-tax impact of tariffs in fiscal 2025 is now adjusted to nearly $600 million.”
Here’s how the company performed in the fiscal third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: $4.75 per share vs. $4.63 expected
Revenue: $10.36 billion vs. $10.31 billion

For the quarter ending July 24, Deere reported a net income of $1.29 billion, down 26% from $1.73 billion the year prior. The company’s total net sales of $12.02 billion took a 9% hit over the period, down from $13.15 billion.
Deere also trimmed the high end of its net income outlook for the fiscal year to $4.75 billion to $5.25 billion, compared with a prior estimate of $4.75 billion to $5.5 billion.
“We remain committed to delivering solutions that address our customers’ current needs while also laying the groundwork for future growth,” CEO John May said in the report. “The positive outcomes we’re enabling reinforce our confidence in Deere’s future despite near-term uncertainty.”

Oppenheimer analyst Kristen Owen said the company is taking an “appropriately cautiously optimistic outlook” given the broader economic environment.
“Really, a lot of the uncertainty is what does ’26 look like,” Owen said on CNBC’s “Money Movers.” “What does 2026 demand look like now that we’re in this environment where the commodities backdrop isn’t nearly as favorable as it was six months ago, and you have an awful lot of trade uncertainty?”
Deere also noted that the company is seeing green shoots of growing demand in Europe and South America.
Cory Reed, the president of Deere’s worldwide agriculture and turf division, said on the call that the company believes there are good things yet to come out of the economic struggles.
“We think there’s positive tailwinds from both what we see in the trade deals, and we think there are positive tailwinds from what we see in tax policy,” Reed said. More

Eli Lilly said it is raising the list price of its blockbuster diabetes drug Mounjaro in the U.K. starting in September.
It comes as President Donald Trump pressures drugmakers to lower U.S. drug prices and hike them abroad under a controversial policy called “most favored nation.”
Mounjaro’s current list price in the UK ranges from £92 ($124.89) to £122 a month, and will increase to between £133 and £330 starting on Sept. 1.

Mounjaro manufactured by Eli Lilly and Company packaging is seen in this illustration photo taken in a pharmacy in Krakow, Poland on April 9, 2024.
Nurphoto | Nurphoto | Getty Images

Eli Lilly on Thursday said it is raising the list price of its blockbuster diabetes drug Mounjaro in the U.K. starting in September, as President Donald Trump pressures drugmakers to lower U.S. drug prices and hike them abroad.
In a statement, Eli Lilly said it reached an agreement with the U.K. government to increase the list price of the weekly injection, while “maintaining access” for patients covered under the publicly funded health-care system, the National Health Service, or NHS. 

Eli Lilly told CNBC that the price hike will not affect the drug’s availability under NHS, and it wants to work with the government to boost access. The company added that it does not determine prices that private health-care providers set, but is working with them to ensure access to Mounjaro. 
In a statement on Thursday, NHS said Mounjaro’s list price increase “will not affect NHS commissioning of tirzepatide in England for eligible people living with obesity, based on clinical priority, or as a treatment for type 2 diabetes.” Tirzepatide is the active ingredient in Mounjaro and its counterpart for weight loss, Zepbound.
Mounjaro’s current list price in the UK ranges from £92 (about $124.89) to £122 a month, depending on the dose size, according to Eli Lilly. The drug’s new list price will increase to between £133 and £330 starting on Sept. 1. 
The company added that it is working with certain governments and expects to make pricing adjustments in those countries by that date. In the U.S., the list price for a month’s supply of Mounjaro is $1,079.77 before insurance and other rebates. 
Eli Lilly said it supports the Trump administration’s goal of keeping the U.S. the “world’s leading destination for biopharmaceutical research and manufacturing, and the objective of more fairly sharing the costs of breakthrough medical research across developed countries.” 

“This rebalancing may be difficult, but it means the prices for medicines paid by governments and health systems need to increase in other developed markets like Europe in order to make them lower in the US,” the company said in the statement.
The announcement comes after Trump in July sent separate letters to 17 drugmakers, including Eli Lilly, calling on them to take steps to lower drug prices by Sept. 29. The move built on the president’s executive order in May reviving a controversial plan – the “most favored nation” policy – that aims to slash drug costs by tying the prices of some medicines in the U.S. to the significantly lower ones abroad.
U.S. prescription drug prices are two-to-three times higher on average than those in other developed nations – and up to 10 times more than in certain countries, according to the Rand Corp., a public policy think tank. Trump has said he wants to narrow that gap to stop Americans from being “ripped off.”
Eli Lilly’s announcement on Thursday comes as the industry braces for Trump’s planned tariffs on pharmaceuticals imported into the U.S. In its statement, the company said it opposes those tariffs, arguing they will “raise costs, limit patient access, and undermine American leadership, especially for companies already investing heavily in domestic manufacturing.”
In recent months, Eli Lilly was among several drugmakers to announce new plans to invest in U.S. manufacturing sites. More

The recipe for Nin Jiom Pei Pa Koa has not changed since it was first concocted in the 1600s. Yet the sweet Chinese cough syrup, which has the colour and consistency of mud, is enjoying a renewed surge in popularity. Sales rose by almost a third between 2019 and 2024, reaching 635m yuan ($88m) last year. Those coughing up for the syrup are not just in China, but increasingly in the West, too. More

Ever since Toyota entered America in the 1950s, the country has been a vital market for it. The carmaker, which sells more vehicles worldwide than any other, hawks around a quarter of its cars there. That makes President Donald Trump’s 15% tariff on Japanese vehicles a big problem, considering that only around half of the cars Toyota sells in America are made in the country (see chart). In an earnings call on August 7th, Japan’s most valuable company said that American duties cost it ¥450bn ($3bn) in the three months to June. For its full fiscal year it expects the impact to be close to $10bn, the biggest hit reported so far by any carmaker. More

The forest of cranes along the skyline of Milan attests to the construction boom that is under way in the financial capital of Italy. Rich foreigners have lately been flocking to the city, drawn not only by the promise of la dolce vita, but by the country’s annual flat tax of €200,000 ($230,000) on worldwide income. Yet Italy as a whole continues to stagnate. The economy has barely grown over the past decade. In June the national statistics bureau downgraded its forecast for growth this year from a measly 0.8% to an even more paltry 0.6%. More

MAKE YOUR way around the busy warehouses of Torrance, near the twin ports of Los Angeles and Long Beach, and you will find an unexpected sight. Dozens of electrified 18-wheelers belonging to Maersk, a Danish logistics firm, are hooked up to fast chargers. The lorries are tapping into electricity from linear generators, which are more efficient, and thus greener, than traditional rotating ones. These generators are the product of Mainspring, a Californian startup that has raised over $250m this year. More

It’s summer in the northern hemisphere. And as holidaymakers travel to unfamiliar places, that means demand for online customer reviews. Want to find a restaurant that won’t give everyone food poisoning, or the perfect accommodation for a city break, or a mosquito repellent that actually works? Whether you are looking on Tripadvisor, Airbnb or Amazon, you will almost certainly be guided by reviews from other people. Should you be? More

The Cadillac Elevated Velocity offers multiple user experience modes. When entering the car, “welcome mode” involves the gull-wing doors lifting skyward and parts of the interior lighting up.
Cadillac said its exterior color is inspired by glacier ice, contrasted against the car’s red interior.
The new concept car aims to build on Cadillac’s all-electric luxury crossover segment.

The Cadillac Elevated Velocity concept car.
Courtesy: Cadillac

General Motors on Thursday unveiled the Cadillac Elevated Velocity, a new concept car aimed at building up the brand’s all-electric luxury crossover segment.
The electric concept car has a “lifted yet elegant design,” according to Cadillac, riding on 24-inch wheels. It includes multiple driving modes to enhance the electric vehicle’s performance, the company said.

“The word ‘elevate’ serves a dual meaning – it is a reference to the lifted chassis that enables high-speed off-road capabilities, but it also refers to an elevated luxury experience,” said Alexandra Dymowska, Cadillac senior brand designer, in a media release.
The vehicle, which is a running showcar but does not have full performance capabilities, builds on Cadillac’s luxury EV portfolio, which already includes the Lyriq and the Optiq.
Automakers regularly use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand, but they’re not meant to be sold to consumers.
The car continues the design principles of Cadillac’s “Opulent Velocity” concept car, which the company revealed in 2024, said Bryan Nesbitt, vice president of GM global design, in a media statement.

The Cadillac Elevated Velocity concept car.
Courtesy: Cadillac

GM initially set a goal to exclusively offer EVs by 2035, but has since said that consumer demand, which has been slower than expected, will dictate its EV plans. Its luxury Cadillac brand set a separate goal to be all-electric by 2030, but more recently said it will offer a full lineup of EVs as well as gas-powered cars.

Cadillac has been going through a revival effort in recent years, considering that luxury cars offer higher profit margins and attract a more affluent consumer than traditional vehicles.
During a call with reporters last month, Cadillac Vice President John Roth said the brand saw its best first half in nearly 20 years. He touted that Cadillac was the bestselling luxury EV brand in the second quarter of 2025, No. 2 in calendar year-to-date terms and fifth for overall EV sales.

‘Lifted yet elegant design’

The concept car offers multiple user experience modes. When entering the car, “welcome mode” involves the gull-wing doors lifting skyward and parts of the interior lighting up.

The Cadillac Elevated Velocity concept car.
Courtesy: Cadillac

When the driver engages “elevate mode,” the car becomes autonomous and the interior transforms into a “recovery space,” where the pedals and steering wheel retract, ambient lighting changes and a light above the steering column aids the driver in breathwork to help occupants get in the “headspace for performance,” according to Cadillac.
The elevate mode also triggers interior cabin filtration, fragrance, red light therapy and climatization to account for changes in air temperature and quality.
“Velocity mode,” meanwhile, features cool white lighting to “evoke a sense of exhilaration” and floor lighting dims to help the driver focus on the road.
The concept car also includes different drive modes for on-road and off-road performance and improved visibility when driving in dusty or sandy conditions.

The Cadillac Elevated Velocity concept car.
Courtesy: Cadillac

Cadillac said its exterior color is inspired by glacier ice, contrasted against the car’s red interior.
The cabin includes red leather on the seat cushions and the cabin and cargo floor, while a red fabric covers the seat uppers, armrests and instrument panel. More