The city of Fort Worth will allow the construction of taller buildings in a section of the peninsula that will become Panther Island. The zoning change, which raises the maximum building height from eight stories to 20 stories in a roughly four-block area, was unanimously approved by the city council on Tuesday. The rule will apply to new construction between NW 7th Street and the canal running through the Encore Panther Island apartment complex.
The Australian share market is expected to have a positive start to the trading day, buoyed by a rise in US markets overnight. The ASX SPI 200 Futures are currently up 0.35%, signaling an increase of 27 points to 7,725. This upbeat sentiment follows strong corporate earnings in the US, with key indices posting gains.
Astellas Pharma Inc. announced the European Commission (EC) has approved a label extension for XTANDI® (enzalutamide) as monotherapy or in combination with androgen deprivation therapy (ADT) for the treatment of adult men with high-risk biochemical recurrent (BCR) non-metastatic hormone-sensitive prostate cancer (nmHSPC) who are unsuitable for salvage-radiotherapy.
The EC approval is based on results from the Phase 3 EMBARK trial, which showed XTANDI in combination with leuprolide led to a 57.6% lower risk of disease progression or death compared to leuprolide alone. Treatment with XTANDI alone was associated with a 36.9% reduction in risk. The European Association of Urology (EAU) guidelines recommend XTANDI for men with high-risk BCR nmHSPC with or without ADT, after radiation therapy or surgery.
XTANDI is an androgen receptor signaling inhibitor indicated in the EU for the treatment of metastatic hormone-sensitive prostate cancer (mHSPC), metastatic castration-resistant prostate cancer (mCRPC), non-metastatic castration-resistant prostate cancer (nmCRPC), and non-metastatic hormone-sensitive prostate cancer (nmHSPC) with high-risk biochemical recurrence (BCR).
GE Aerospace (GE), spun off from General Electric earlier this year, has been a strong performer, outpacing both the broader market and the original GE conglomerate. However, the author believes that further upside is unlikely, given the company’s lofty valuation and potential challenges. GE Aerospace faces competition from established players like Honeywell (HON), Northrop Grumman (NOC), and Lockheed Martin (LMT), and its future growth may be limited by factors such as increased working capital requirements. While GE Aerospace remains fundamentally sound, the author downgrades the stock to a “Hold” rating.
The US Federal Trade Commission (FTC) has banned most noncompete agreements nationwide, a significant victory for worker freedom and innovation. The move is expected to create thousands of new businesses, increase wages, and foster greater competition in the job market. Noncompete agreements have disproportionately affected tech and other highly skilled workers, hindering their career advancement and stifling innovation. The FTC’s rule is expected to face legal challenges, but its long-term impact is likely to be transformative for the American workforce.
The final rule from the DOL’s Employee Benefits Security Administration requires financial advisors and other retirement professionals to prioritize clients’ best interests when recommending rollovers to individual retirement accounts and certain annuities. ADISA, the nation’s largest trade association for the alternative and direct investment space, had participated in the rulemaking process through testimony and a comment letter. While ADISA acknowledges that the rule has been amended from the proposed version, it remains to be seen whether the changes will significantly impact how the rule is applied to broker-dealers and ADISA members who recommend alternative investments.
In response to declining profits, Tesla CEO Elon Musk emphasizes the company’s long-term growth trajectory driven by AI and autonomous vehicles. Despite challenges, including executive departures and production setbacks, Tesla remains optimistic about the future of electric vehicles. While the $25,000 mass-market vehicle plan has been shelved, the company assures more affordable options will be available. Tesla’s focus now shifts exclusively to developing and deploying robotaxis, promising a future where self-driving Teslas operate as a fleet, potentially providing additional revenue streams for owners.
Elon Musk’s company X has appealed the dismissal of its lawsuit against the Center for Countering Digital Hate (CCDH). X had accused CCDH of spreading misinformation about the platform’s content moderation practices, leading to lost advertising revenue. The appeal could take several months or longer to be heard.
Stellantis, the parent company of Jeep, announced plans to lay off an unspecified number of workers at its U.S. factories in the coming months. This decision stems from a rapidly changing global auto market and increased capital spending for the transition to electric vehicles. Despite recent declines in U.S. sales and higher labor costs, Stellantis emphasized that these actions are necessary to enhance productivity and ensure long-term sustainability. While exact details and reasons for the layoffs remain undisclosed, Automotive News reported that 199 workers were laid off at the Ram pickup truck factory in Michigan.
In a significant victory for entrepreneurs and workers, the Federal Trade Commission (FTC) has unanimously voted to prohibit non-compete clauses. The agency estimates that this decision will spur the creation of over 8,500 new businesses annually, leading to a surge in job opportunities and economic growth.
