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Donald Trump has significantly increased his ownership in Trump Media & Technology Group (TMTG), the operator of his social media app, Truth Social. According to a recent filing, his stake now stands at nearly 65%, following the acquisition of an additional 36 million shares. Trump earlier held 57.6% in the companyThis move increases Trump’s holdings from 57.6% in March to a substantial majority. The boost in ownership comes amidst a notable surge in the company’s stock, which has climbed over 50% to $49.93 in just the past five sessions. Despite this sharp increase, the stock remains approxim...
Invezz
Johnson & Johnson (JNJ.N) announced on Wednesday a significant move towards resolving ongoing litigation over its baby powder and other talc products, with a proposed settlement amounting to $6.475 billion. This substantial figure is aimed at settling tens of thousands of lawsuits alleging that the company’s talc products contain asbestos and could cause ovarian cancer. Johnson & Johnson plans settlement via subsidiaryThe healthcare giant plans to manage this settlement through a third bankruptcy filing of a subsidiary, LTL Management, specifically created to handle J&J’s talc liabilities. Thi...
Invezz
On Wednesday, tech giant Microsoft and Brookfield Asset Management of Canada announced plans to develop new solar and wind farms to bring over 10.5 gigawatts of new renewable energy capacity. This deal signifies the importance of meeting clean energy commitments as well as the demands of cloud computing and AI. It will also enable Microsoft to access a supply of new renewable energy to meet the ever-increasing demand for cloud services at work and home. Targeted markets A Microsoft spokesperson stated that Brookfield aims to deliver new renewable energy capacity in the European and the U.S. ma...
Invezz
On Thursday, Apple Inc. (AAPL.O) is set to disclose its quarterly earnings, which analysts predict will show the largest revenue decline for the company in over a year. The focus will likely be on Apple’s initiatives to integrate generative AI into its iPhones and its strategy to recover declining sales in the vital Chinese market. Revenue and sales forecasts signal challengesAnalysts expect that iPhone sales, which make up roughly half of Apple’s revenue, have fallen by 10.4% in the first quarter of 2024. This significant drop, the steepest in more than three years, reflects broader challenge...
Invezz
Pfizer Inc. (NYSE: PFE) has announced its financial outcomes for the first quarter of 2024, displaying strong performance in its non-COVID product portfolio. This includes heightened revenues from recent commercial launches and acquired products, alongside a consistent growth in key in-line brands. Despite a decrease in pandemic-related revenues, the company has raised its Adjusted diluted EPS guidance for the year. Pfizer Q1 earnings highlightsIn the first quarter, Pfizer saw a revenue of $14.9 billion, marking a 19% operational decrease year-over-year, primarily due to expected declines in C...
Invezz
In a significant policy shift, the US Justice Department has recommended reclassifying marijuana as a schedule three controlled substance, aligning it with drugs like ketamine and Tylenol with codeine. This change, announced on Tuesday, does not legalize recreational marijuana use nationally but does pave the way for lighter legal penalties and enhanced financial opportunities for the cannabis industry. Implications for the cannabis industryCurrently categorized as a schedule one drug alongside substances like heroin and LSD, marijuana’s reclassification would alleviate some of the financial b...
Invezz
PayPal Holdings, Inc., the American multinational fintech company just released its earnings report today for the first quarter of FY24. The company’s Q1 net revenues increased 9% to $7.7 billion. Transaction margin dollars increased by 4% to $3.5 billion. According to an announcement made by the company on February 7, 2024, PayPal’s non-GAAP results are based on a new methodology that includes the impact of stock-based compensation (SBC) expense and related employer payroll taxes. GAAP operating income for the first quarter increased by 17% to $1.2 billion, and non-GAAP operating income incre...
Invezz
The U.S. dollar continued to surge on Tuesday, driving the Japanese yen closer to a zone where intervention may be considered. While the yen is approaching 12-month lows against the dollar, both the euro and the British pound experienced declines to new multi-month lows versus the dollar. The euro slipped below its previous low from January, which was at 1.0482. Europe’s shared currency had a challenging September, dropping 2.5% against the dollar. It is already down 1% in October following fresh signs of economic challenges in Europe. Analysts are increasingly warning that the euro may reach ...
ValueWalk
The U.S. dollar is on its way to close in the green territory on a weekly basis for the first time since the first half of July as traders increase their bets that the Fed may keep higher interest rates for longer. EUR/USD was trading higher earlier this week, eventually hitting a two-week high on Wednesday following the release of data showing that U.S. private payrolls increased less than expected in August. Still, the greenback strengthened on Thursday despite some level of optimism that the U.S. central bank is near concluding its tightening cycle. Overall, EUR/USD traded mostly range-boun...
ValueWalk
When considering global financial markets and currencies, the US dollar is certainly a major contender for the top spot when selecting the right currency pairs for Forex trading. As one of the world’s largest economies, watching how it performs and keeping up to date with the latest news can also give worthwhile insights into the way markets are likely to move and overall financial sentiment, but what is the US dollar’s overall impact on Forex trading? Q4 2022 hedge fund letters, conferences and more The US Dollar's Relationship With ForexInternationally, the USD is extremely strong and acts a...
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