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1. A look at the state of Trump tariff policy as deadline nears
A day ahead of the Aug. 1 deadline for broad tariffs set by the Trump administration earlier this year, CNBC took a look at what countries have reached trade deals and which haven't.
The largest remaining hurdle is perhaps the ongoing trade talks with China, but the two countries have agreed to a trade truce until Aug. 12.
"China currently faces a 30% combined tariff rate, while the U.S. is looking at 10% duties," the news outlet reports. "The countries’ most recent meeting in Stockholm ended without a truce extension, but U.S. Treasury Secretary said that any truce extension will not be agreed to until Trump signs off on the plan."
2. Currency exchange a headwind for Accor
During the French hotel company's first-half 2025 earnings call, Accor executives warned that foreign exchange rates have become a hurdle for the company, CoStar News' Terence Baker reports.
Sébastien Bazin, Accor's chairman and CEO, said the impact of exchange rates to Accor’s bottom line was negative to the tune of €21 million ($24 million). This was higher than expected but Accor still enjoyed a 4.6% increase in RevPAR, a 5.1% increase in revenue and a 9.4% increase in recurring EBITDA to €552 million.
“We just cannot do [anything] about [currency exchange],” Bazin said. “We are reentering a very stringent phase of operational and financial discipline, trying to mitigate whatever we can … into contribution of profit.”
3. MGM Resorts sets revenue records
MGM Resorts International reported its highest-ever net revenues in the second quarter with a 2% year-over-year increase to $4.4 billion. The increase was attributed largely to strength at MGM China and regional operations.
Revenues on the Las Vegas Strip were down slightly from $2.2 billion to $2.1 billion in part because of some remodeling work at the MGM Grand Las Vegas.
CoStar News' Bryan Wroten reports MGM Resorts has a stronger outlook for Las Vegas in 2026 despite a 6.5% drop in occupancy on the Strip for June.
“Las Vegas is as solid as ever, and MGM couldn't be better-positioned to benefit by all of it,” said MGM Resorts President and CEO Bill Hornbuckle.
4. Pebblebrook hails portfolio mix for second quarter outperformance
While the hotel industry across the U.S. broadly had a hard time in the second quarter due to soft demand, Pebblebrook Hotel Trust Chairman and CEO Jon Bortz said the real estate investment trust outperformed due to its portfolio full of high-end properties, Wroten reports.
“Premium hotels and resorts continue to perform better while the bottom half has seen more weakness as lower-income consumers shift some of their spending toward necessities,” he said.
5. US interest rates remain unchanged despite pressure
Despite open overtures from the White House to cut interest rates and a higher level of dissension with the central bank than usual, the U.S. Federal Reserve held rates steady for its fifth straight meeting, CNN reports.
For the first time in three decades, two Fed governors opposed the majority decision in favor of a possible cut.
The Fed's next possible cut could come in September, and Chairman Jerome Powell said the governors will look at the "totality of the data" available on the economy to make a decision.