Category: News
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KRA to miss target by Sh300bn despite new tax measures
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The Kenya Revenue Authority (KRA) has recorded its highest deficit in tax collection from employees despite the introduction of two new tax bands targeting top earners, even as the Treasury expects the tax collector to miss this year’s targets by about Sh300 billion. A quarterly report published by the National…
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Relief for Homeowners as Major Lenders Reduce Mortgage Rates
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Three major lenders, Barclays, HSBC and TSB, have announced mortgage interest rate cuts on more than 100 deals, providing welcome relief to borrowers who have faced rising interest rates in recent weeks. Barclays will implement major cuts on Friday, cutting fixed interest rates on buy-and-remortgage deals by up to 0.45…
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Seelos Therapeutics Announces Pricing of $1.1 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules
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New York, May 16, 2024 /PRNewswire/ — Selous Therapeutics (NASDAQ:), Inc. (Nasdaq: SEEL) (“Seelos” or the “Company”), a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system (“CNS”) disorders and rare diseases, announced today that it has entered into a securities purchase agreement agreement with certain investors. Institutional…
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Jamie Dimon says inflation is worse than people think, and that the market is too optimistic about a soft landing
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CNBC/Jamie Dimon JP Morgan CEO Jamie Dimon told Bloomberg TV that inflation may be higher for longer than people think. Dimon said markets are very optimistic about inflation, interest rates and the US economy. He added that rates are likely to rise higher than people might think. Markets are underestimating…
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Jamie Dimon says inflation is worse than people think, and that the market is too optimistic about a soft landing
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CNBC/Jamie Dimon JP Morgan CEO Jamie Dimon told Bloomberg TV that inflation may be higher for longer than people think. Dimon said markets are very optimistic about inflation, interest rates and the US economy. He added that rates are likely to rise higher than people might think. Markets are underestimating…
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U.S. crude oil, natgas post back-to-back gains on supply data, rate cut hopes
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Slavko Sereda/iStock via Getty Images U.S. crude oil futures rose to their highest levels in a week on Thursday, extending gains from the previous session sparked by data showing slowing U.S. inflation and weekly storage data that pointed to a decline in domestic oil inventories. the The smaller-than-expected rise in…
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North Koreans stole Americans’ identities and took remote-work tech jobs at Fortune 500 companies, DOJ says
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The Justice Department on Thursday announced the arrest of three people in a complex stolen identification scheme that officials say generates enormous revenues for the North Korean government, including its weapons program. The scheme involves thousands of North Korean IT workers, who prosecutors say were sent by the government to…
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Navigating The Futuristic Gaming Landscape with Success
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In the iGaming industry, innovative trends have shaped how people interact with casino games. Gamers are now enjoying the advent of cutting-edge graphics, immersive virtual experiences, and mobile gambling. These developments are poised to evolve and revolutionize the gambling sector in the future. One of these emerging trends is cross-platform…
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Google wants judge, not jury, decide upcoming antitrust case in Virginia
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Breadcrumb links PMN works Article writer: Associated Press Matthew Barakat Posted on May 16, 2024 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. FILE – The Google logo is seen at Google headquarters in Brussels, March…
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Google wants judge, not jury, decide upcoming antitrust case in Virginia
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Breadcrumb links PMN works Article writer: Associated Press Matthew Barakat Posted on May 16, 2024 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. FILE – The Google logo is seen at Google headquarters in Brussels, March…
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Regulator signals banks to keep dividends low
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Israeli banks generally distribute 40% of their quarterly profits, but this percentage is again expected to be cut in half. Banks will not return to distributing profits according to their usual profit distribution policies, and will once again be content with distributing reduced profits. Superintendent of Banks Daniil Hahiachvili sent…
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Regulator signals banks to keep dividends low
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Israeli banks generally distribute 40% of their quarterly profits, but this percentage is again expected to be cut in half. Banks will not return to distributing profits according to their usual profit distribution policies, and will once again be content with distributing reduced profits. Superintendent of Banks Daniil Hahiachvili sent…
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Copart Posts Steady Q3 Earnings; Matches Estimates By Investing.com
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DALLAS – Copart, Inc. announced (NASDAQ:), the global leader in online auto auctions, announced its financial results for the third quarter ending April 30, 2024, with flat earnings per share (EPS) and an increase in revenue compared to the same quarter last year. The company reported third-quarter EPS of $0.39,…
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U.S. CPI data inadvertently revealed 30 minutes ahead of schedule, BLS says
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Irina Drozd The U.S. Bureau of Labor Statistics mistakenly released consumer inflation data 30 minutes earlier than scheduled on Wednesday, it said earlier this week, an incident that could lead to a broader examination of how the agency distributes important economic data. “Prior to today’s release of the CPI and…
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Dow hits 40,000 for the first time on Fed rate cut hopes
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The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday as investors grew more confident that the stock market’s rally could continue on hopes that the Federal Reserve will begin cutting interest rates later this year. The oldest of Wall Street’s three major stock indexes has…
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Co-op Bank profit up 8pc to Sh6.6bn in first quarter
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The Cooperative Bank of Kenya posted a 7.7 percent growth in net profit to Sh6.58 billion in the first three months ended March 2024 thanks to increased income and containment of operating costs. The growth in net profits from Sh6.11 billion recorded in the same quarter last year came on…