Month: August 2022

Initial claims for jobless insurance rose to 260,000 last week, near the highest level since November amid a shift in the US labor market. The total for the week ended July 30 was in line with the Dow Jones estimate, but a gain of 6,000 from the previous week’s downwardly revised level, the Labor Department reported Thursday. In other economic news, the US trade deficit in goods and services narrowed to $79.6 billion in June, $5.3 billion below and slightly below the $80 billion estimate. The number of jobless claims comes a day before the Bureau of Labor Statistics releases…

Nikola Motor Company Source: Nikola Motor Company Nikola on Thursday reported second-quarter earnings that beat Wall Street expectations as it delivered 48 of its electric heavy-duty trucks. The company also posted a smaller-than-expected loss for the period. Here’s what the company reported compared to what Wall Street expected, according to a survey of analysts by Refinitiv: Income: 18.1 million dollars, against the 16.5 million expected.Adjusted loss per share: 25 cents, compared to the 27 cents loss per share expected. Nikola built 50 trucks during the second quarter, 48 of which were delivered to its dealers before the end of the…

When you live solely off your investments, the last thing you want to see is a market crash. But for Steve Adcock, who retired in 2016 at the age of 35, the current bear market and possible recession have been no cause for alarm. Despite seeing his net worth drop by more than $200,000 (from $1.4 million to just under $1.2 million since last year), Adcock hasn’t even considered the possibility of going back to work full-time, not even taking on a side hustle. “Absolutely, positively not. That hasn’t crossed my mind one bit,” says Adcock, who previously worked in…

EFG Hermes Holding today announced the appointment of Aladdin Al-Afifi as the new CEO of its NBFI platform, effective August 1, 2022. With his appointment, Al-Afifi will assume overall responsibility for leading the current EFG Hermes NBFI portfolio with the exception of valU’s Buy-Now, Pay-Later (BNPL) fintech platform, where he will become a non-executive member of the board. on behalf of the majority shareholder. Al-Afifi will also be responsible for growing NBFI operations by adding new services, either organically or through acquisitions. A holder of an MBA from the Wharton School of the University of Pennsylvania, Al-Afifi has over 23…

US oil falls below $90 West Texas Intermediate crude futures, the US oil benchmark, fell below $90 a barrel on Thursday, sinking to their lowest level since February. Thursday’s decline builds on recent weakness in oil as recession fears weigh. WTI last traded at $89.68 a barrel, down 1%. International benchmark Brent crude fell 1.3% to $95.53 a barrel. “A disappointing summer driving season in the US, as well as in China, amid growth concerns has taken hold in the oil market,” said Bart Melek, head of commodities strategy at TD Securities. in a note on Thursday. “[T]The oil market…

SEATTLE–(BUSINESS THREAD)–Omeros Corporation (NASDAQ: OMER ), today announced that the company will release its second quarter financial results for the period ended June 30, 2022, on Tuesday, August 9, 2022, after the market closes . Omeros management will host a conference call and webcast later today at 4:30 PM Eastern Time (1:30 PM Pacific Time) to discuss financial results, as well as recent developments and highlights. Details of the conference To access the live conference call by telephone, dial (833) 634-2592 from within the United States and Canada or (412) 902-4100 internationally and ask to be placed on the Omeros…