Anas Sarwar says scheme would be part of overhaul of arts funding in Scotland Labour has pledged to spend £30m on giving Scottish artists and musicians a living wage, mirroring a similar scheme in Ireland guaranteeing artists a basic income. Anas Sarwar, the Scottish Labour leader, said the scheme would be part of a deeper shake-up of cultural funding in Scotland by integrating arts and culture in...
Anas Sarwar says scheme would be part of overhaul of arts funding in Scotland Labour has pledged to spend £30m on giving Scottish artists and musicians a living wage, mirroring a similar scheme in Ireland guaranteeing artists a basic income. Anas Sarwar, the Scottish Labour leader, said the scheme would be part of a deeper shake-up of cultural funding in Scotland by integrating arts and culture into the Scottish government’s economic strategies if his party won power in next month’s Holyrood election. Continue reading...
US banks and credit unions may soon be able to use intermediaries to transfer funds through the Federal Reserve ’s real-time payments system, according to a central bank proposal. The plan, which was released by the regulator on Wednesday, would expand the number of US private sector firms that can use the FedNow platform. Currently, a transfer of funds sent through FedNow can include only two US ...
US banks and credit unions may soon be able to use intermediaries to transfer funds through the Federal Reserve ’s real-time payments system, according to a central bank proposal. The plan, which was released by the regulator on Wednesday, would expand the number of US private sector firms that can use the FedNow platform. Currently, a transfer of funds sent through FedNow can include only two US banks. The Fed said the proposal aims to provide lenders with “additional flexibility” in how they transact with other banks to facilitate the international portion of a cross-border payment. The proposal, which is subject to public comment before it can be finalized, comes as the central banks and other financial regulators seek ways to streamline certain functions for banks and eliminate inefficiencies, regulators have said. The payments system known as FedNow debuted in 2023 and was designed to speed up the movement of money among banks around the US.
Nigerian stocks with overseas listings outperformed Wednesday after index provider FTSE Russell said it would allow the country’s equities to return to its frontier-markets benchmark later this year. While Nigeri’s main NGX 30 index rose 0.3%, Airtel Africa Plc which trades in Lagos as well as London, jumped by the maximum daily limit of 10%. Seplat Energy Plc and Guaranty Trust Holdings Co. Plc, ...
Nigerian stocks with overseas listings outperformed Wednesday after index provider FTSE Russell said it would allow the country’s equities to return to its frontier-markets benchmark later this year. While Nigeri’s main NGX 30 index rose 0.3%, Airtel Africa Plc which trades in Lagos as well as London, jumped by the maximum daily limit of 10%. Seplat Energy Plc and Guaranty Trust Holdings Co. Plc, two other dual-listed firms, also rallied, as did Zenith Bank Plc which plans to list in London next year. Such dual-listed firms are expected to be the main beneficiaries of the index reclassification, as overseas investors can access them more easily. They are also some of Nigeria’s biggest companies. Airtel and Guaranty Trust shares rose in London as well, though Seplat slid, hurt by Wednesday’s oil-price slump. Nigeria’s main stock index is up about 30% so far this year, adding to last year’s 51% rally. But the country has languished in FTSE Russell’s Unclassified category since 2023, when it was ejected from the frontier index as severe foreign exchange scarcity hindered foreign investors from repatriating profit. Its return to the frontier index — due Sept. 21 — should allow greater foreign participation, including from passive, benchmark-tracking investors. “Coming back to the frontier market increases demand for the stocks,” considering its visibility to global institutional investors, said Patrick Ejumedia, analyst at Sterling Asset Management Ltd. “Besides that, Airtel is seeing an increase in call and data services from improved broadband and mobile phone access in Nigeria.” However, another index provider MSCI Inc. still classifies Nigeria as a standalone market, having downgraded it in February 2024. It said last June it needed more time to assess the impact of the government’s foreign exchange reforms.
Deagreez/iStock via Getty Images Viridian Overview My last analysis of Viridian Therapeutics ( VRDN ) was way back in September 2023. It came after Phase 1/2 data on its lead asset, VRDN-001, in thyroid eye disease, or TED. I, alongside the market (the stock dropped 20% immediately following the data), was unimpressed. While VRDN-001 led to some reduction in eye protrusion, it didn’t improve diplo...
Deagreez/iStock via Getty Images Viridian Overview My last analysis of Viridian Therapeutics ( VRDN ) was way back in September 2023. It came after Phase 1/2 data on its lead asset, VRDN-001, in thyroid eye disease, or TED. I, alongside the market (the stock dropped 20% immediately following the data), was unimpressed. While VRDN-001 led to some reduction in eye protrusion, it didn’t improve diplopia, or double vision, which is a key feature of TED. Management planned to advance VRDN-001 into a late-stage program. They were also beginning to evaluate a SC anti-IGF-1R and anti-TSHR antibody, VRDN-003. I rated VRDN a “Sell,” hoping for “more compelling clinical efficacy and a clear path to market” before a potential re-rating. Following Phase 3 trial results for elegrobart (formerly VRDN-003) last week, Viridian’s stock has dropped some 50% since. I take another look below. Recent Developments Viridian has actually been hit twice with bad news in the past week. Although the Phase 3 (REVEAL-1) study was technically positive in that it hit statistical significance in the primary endpoint, the market was “ underwhelmed by the overall efficacy profile.” And because Clinical Activity Score failed (p=0.24) in the Q4W arm, every secondary endpoint that followed (i.e., diplopia resolution) was technically only " nominally significant ." The disappointment snowballed on Monday after Amgen ( AMGN ) unveiled Phase 3 results for its SC version of Tepezza, a direct competitor of Viridian’s. For context, Tepezza IV is the first and only FDA-approved medication specifically for TED. It blocks IGF-1R and is highly effective, with an 83% proptosis response rate in OPTIC Study 2 . Author's Compilation Tepezza SC appears to have similar effectiveness to its IV cousin. Mind you, Tepezza IV owns this market, generating $1.9B in FY25 revenue . So, Amgen, a big pharma company, shouldn’t have a problem transitioning existing (and attracting new) TED patients to SC. Of course, Viridian was ho...
We are selling 25 shares of Eaton at roughly $384.30. Following the trade, Jim Cramer's Charitable Trust will own 225 shares of ETN, decreasing its weight in the portfolio to 2.40% from 2.67%. We're taking advantage of the market rip Wednesday to let go of some shares of Eaton and lock in a very nice-sized gain on this artificial intelligence trade winner. While we are enjoying this relief rally a...
We are selling 25 shares of Eaton at roughly $384.30. Following the trade, Jim Cramer's Charitable Trust will own 225 shares of ETN, decreasing its weight in the portfolio to 2.40% from 2.67%. We're taking advantage of the market rip Wednesday to let go of some shares of Eaton and lock in a very nice-sized gain on this artificial intelligence trade winner. While we are enjoying this relief rally across many names in the portfolio, we want to be mindful that the U.S. and Iran ceasefire is only for two weeks. We're balancing the possibility of a long-term agreement being reached with the chance of a re-escalation. If tensions later flared up, pressuring the market again, we would kick ourselves for not taking advantage of these great prices. There have already been reports that Iran halted passage through the Strait of Hormuz in response to Israel's strikes on Lebanon, underscoring the fragile environment we must continue to navigate. Jim called out Eaton as a name to trim on Wednesday's Morning Meeting. Shares are up roughly 4% on Wednesday, putting the stock only 3% below its record close of $396.09 in February. From this sale, we will realize a gain of 65% on stock purchased in December 2023. (Jim Cramer's Charitable Trust is long ETN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Tesla Inc. CEO Elon Musk said on Monday that the company’s Full Self-Driving (FSD) technology saves many lives as criticism over the system’s capabilities grows. Saving A Lot Of Lives In a post on the social media platform X, Musk quoted a video that purportedly showed a Tesla on FSD swerving to avoid a collision with a man crossing the highway in limited-visibility conditions. “Tesla self-driving...
Tesla Inc. CEO Elon Musk said on Monday that the company’s Full Self-Driving (FSD) technology saves many lives as criticism over the system’s capabilities grows. Saving A Lot Of Lives In a post on the social media platform X, Musk quoted a video that purportedly showed a Tesla on FSD swerving to avoid a collision with a man crossing the highway in limited-visibility conditions. “Tesla self-driving saves a lot of lives – the statistics are unequivocal,” Musk said in his post, acknowledging that t
Trevor Srednick/iStock Editorial via Getty Images EV enterprise Lucid Group, Inc. ( LCID ) surprised the market earlier this week when it announced that new supplier snags and production disruptions led the company to drastically underperform Wall Street estimates for Q1 '26 deliveries . Lucid, which has struggled to ramp up its production in the last several years, reported only 3,093 EV deliveri...
Trevor Srednick/iStock Editorial via Getty Images EV enterprise Lucid Group, Inc. ( LCID ) surprised the market earlier this week when it announced that new supplier snags and production disruptions led the company to drastically underperform Wall Street estimates for Q1 '26 deliveries . Lucid, which has struggled to ramp up its production in the last several years, reported only 3,093 EV deliveries in the first quarter, showing a year-over-year decline rate of 0.5%. This supplier setback effectively ended the firm's impressive delivery ramp that took place all throughout 2025. In response to the delivery update, Lucid's shares dropped 6% and fell to a new 52-week low, indicating oversold sentiment. Since management confirmed its full-year production goal of 25,000 to 27,000 units, submitted in February, and specifically said that it sees its supplier problems as temporary, Lucid should be able to return to a normal delivery volume within the next 1-2 quarters. Data by YCharts Previous rating An improving vehicle delivery trajectory as well as a collaboration with ride-hailing giant Uber ( UBER ) were reasons why I recommended shares of Lucid in 2025 as a Buy: A n EV Turnaround Pick For 2026 . Recently, Lucid has been starting to make negative news again relating to its delivery growth, however, which pushed shares down to new lows: According to a Q1 production and delivery update, the EV company suffered headwinds for its Lucid SUV production, which drastically increased the gap between delivery and production volume in the first quarter. I believe the recent supplier issues are temporary and will not affect the firm's growth potential for long. Delivery setback likely to be only temporary Due to production snags in the first quarter, Lucid reported a 0.5% year-over-year decline in deliveries... although its production growth soared 148.6% over the same time period. The company reported 3,093 deliveries in Q1, missing the consensus estimate of 5,237 EVs by a large ...