Former President Donald Trump has proposed eliminating taxes on overtime wages for individuals working beyond 40 hours per week, a move aimed at incentivizing work and simplifying hiring, but economists argue it could have unintended consequences and worsen the federal deficit.
Japan is taking a two-pronged approach to cannabis, criminalizing personal use while simultaneously legalizing medical cannabis products. The move aims to regulate cannabis use, combat drug abuse, and expand access to cannabis-derived medicines.
Huawei is making waves in the smartphone market with its tri-fold Mate XT, launching on September 20th. This innovative device, boasting a tablet-like experience and a hefty price tag, aims to challenge Apple’s dominance, particularly in China, where iPhone sales are declining. The Mate XT’s unique design and cutting-edge features face stiff competition from Apple’s incremental iPhone 16 upgrades, making this a battle of innovation versus familiarity.
The FDA has requested additional phase 3 trials for MDMA-assisted psychotherapy for PTSD, putting a hold on potential landmark approval. Despite this setback, Lykos Therapeutics remains committed to navigating the FDA’s requirements, while other psychedelic therapies continue to progress in clinical trials.
Hurricane Francine, which made landfall on Wednesday as a Category 2 hurricane, caused minimal damage to energy companies on the U.S. Gulf Coast. Shell, Entergy, and Enterprise Products Partners reported no significant damage to their facilities, despite some power outages. Emergency crews are now working to clear roads and restore electricity in Louisiana.
EQB Inc. has announced a change to the dividend payment date for its common shares and Series 3 Preferred Shares. The new payment date is September 27, 2024, instead of the originally announced September 30, 2024. The record date and dividend amount remain unchanged. The company will still redeem all outstanding Series 3 Preferred Shares on September 30, 2024.
Ballard Power Systems is restructuring its operations to reduce spending and align with a slower-than-expected adoption of hydrogen fuel cells. The company is experiencing challenges in the China market and facing delays in infrastructure development. Despite these challenges, Ballard remains confident in the long-term potential of hydrogen fuel cells and is focusing on cost reduction while maintaining balance sheet strength for future growth.
Ballard Power Systems, a leading fuel cell technology company, announced a global restructuring plan to reduce costs and adapt to the slower-than-expected adoption of hydrogen fuel cells. The company cited a delayed market for low-cost hydrogen and refueling infrastructure as the primary reason for the restructuring, which includes workforce reductions, product development program rationalization, and operational consolidation. While acknowledging the challenges, Ballard remains confident in the long-term potential of hydrogen fuel cells and will continue focusing on developing next-generation, cost-effective products for heavy mobility and stationary power applications.
Shares of Wayfair and Williams-Sonoma are trading higher after RH reported better-than-expected second-quarter earnings and revenue. RH’s strong performance, driven by increased demand and positive product margins, is boosting sentiment in the home goods sector.
LATAM Airlines Group is embarking on a significant fleet upgrade, investing $360 million to renovate 24 of its Boeing 787 aircraft. This renovation will bring a new level of comfort and technology to passengers, with upgraded seats, entertainment systems, and a focus on sustainability. The new Premium Business cabin features doors for enhanced privacy and Recaro R7 seats, while Economy class offers ergonomic seating and improved entertainment options.
