Starmer, Trump Agree to Implement Tariff-Cutting Trade Deal
Prime Minister Keir Starmer reached an agreement with US President Donald Trump to implement trading terms disclosed last month to slash US tariffs on key British exports and raise UK quotas on certain American agricultural products.
Trump and Starmer on Monday presented a document signed at the Group of Seven meeting in Kananaskis, Canada, agreeing to move forward on measures easing trade of cars, agricultural and aerospace products — but falling short of an immediate ease of steel tariffs, a key British ask.
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Yahoo
21 minutes ago
- Yahoo
Acurx Pharmaceuticals, Inc. Announces Exercise of Warrants for $2.67 Million Gross Proceeds
STATEN ISLAND, N.Y., June 17, 2025 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a late-stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, today announced that it has entered into a warrant inducement agreement (the "Letter Agreement") with a certain holder ("Holder") of existing warrants to purchase up to an aggregate of 4,445,435 shares of common stock (the "Existing Warrants") having exercise prices ranging from $3.25 to $3.26 per share, issued by the Company in July 2022 and May 2023, wherein the Holder agreed to exercise the Existing Warrants at a reduced exercise price of $0.675 per share, resulting in gross proceeds of approximately $2.67 million, before deducting offering fees and other expenses payable by the Company. In consideration for the exercise of the Existing Warrants for cash, the investors received 6,223,609 G-1 warrants (the "G-1 Warrants") and 2,667,261 G-2 warrants (the "G-2 Warrants) to purchase up to an aggregate of 8,890,870 shares of common stock (the "New Warrants"). The G-1 Warrants are exercisable immediately at an exercise price of $0.425 per common share and will expire five years from the issuance date. The G-2 Warrants are exercisable upon shareholder approval at an exercise price of $0.425 per common share and will expire five years from the issuance date. The shares of common stock issuable upon exercise of the Existing Warrants are registered pursuant to effective resale registration statements on Form S-1 (File Nos. 333-267412 and 333-273015). The transaction is expected to close no later than June 20, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the exercise for working capital and general corporate purposes. The New Warrants are being issued in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying such New Warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the New Warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Ibezapolstat Ibezapolstat is the Company's lead antibiotic candidate advancing to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS®) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome. In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI. About Acurx Pharmaceuticals, Inc. Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram+ specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillinresistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). To learn more about Acurx Pharmaceuticals and its product pipeline, please visit Forward-Looking Statements Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, the timing and completion of the offering; the satisfaction of customary closing conditions related to the offering and the intended use of proceeds therefrom, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2024, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward- looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law. Investor Contact: Acurx Pharmaceuticals, Inc. David P. Luci, President & Chief Executive Officer Tel: 917-533-1469 Email: davidluci@ View original content: SOURCE Acurx Pharmaceuticals, Inc. Sign in to access your portfolio
New York Times
21 minutes ago
- New York Times
On his first day with the Giants, Rafael Devers finds a whole new reality
One meeting, that's all it took. One meeting with his new San Francisco Giants superiors, and suddenly Rafael Devers no longer was Rafael Diva. Funny how that works when bosses communicate their wishes, and do not simply assume a player with a $313.5 million contract should do whatever they want. People skills. They might be baseball's new market inefficiency. Advertisement The Boston Red Sox never shared their intentions with Devers when they were trying to sign free-agent third baseman Alex Bregman, prompting Devers to initially balk at becoming a DH and then outright refuse to move to first base. The Giants related to Devers that only four teams entered Tuesday with a worse OPS at first base, or something to that effect. And voila! There was Devers, all smiles at his introductory news conference, saying, 'I am here to play wherever they want me to play.' Including first base, where he took grounders before his Giants debut. 'I don't think it's going to be too difficult for him,' Giants manager Bob Melvin said. 'More than anything, the fact he hasn't played in the field this year, we have to take our time working him in. It's a new position. We'll take it day to day.' Devers is not above reproach for refusing to do the same for the Red Sox, no matter how much he believes they slighted him. But here's rooting for this trade to work out for Giants president of baseball operations Buster Posey, and not simply because he appears to have a better feel for players than Red Sox chief baseball officer Craig Breslow. Or even his predecessor, Farhan Zaidi, who made the same mistake with Brandon Crawford that Breslow did with Devers, failing to inform his incumbent shortstop that he was agreeing to terms with another, Carlos Correa. This deal is a referendum on teams that define players more as 'dudes' – Posey's word – than 'assets.' A referendum on all the other fancy terms executives use, from flexibility to sustainability to efficiency, while hedging their bets and operating out of fear. A referendum on absorbing contracts that might not age well to do what every team should be trying to do – win. Devers' remaining $255 million or so over the next eight-plus years isn't as onerous as it might appear. Not when accounting for the approximately $32 million the Giants offloaded in the deal by including right-hander Jordan Hicks. And not when Vladimir Guerrero just signed a 14-year, $500 million extension that will begin next season when he is 27, one year younger than Devers is now. Guerrero's career OPS+ is 136. Devers' is 129. Advertisement Yet, the opinion of a number of rival executives, as related by The Athletic's Britt Ghiroli, is that the Red Sox all but pulled a fast one on the Giants. 'Freeing up $250 million AND getting some nice young talent in return is a great deal for them in a vacuum,' one exec said. 'In a few years I think this trade will be lauded,' another opined. Perhaps that is true. Perhaps Devers' questionable conditioning and lack of athleticism will cause him to decline faster than most. Perhaps two of the four players the Red Sox acquired, left-hander Kyle Harrison and 2024 first rounder James Tibbs III, will develop into a quality starting pitcher and productive outfielder, respectively. But once upon a time, before teams became obsessed with projections and modeling, the most effective way to evaluate a trade was by asking the question: Who got the best player in the deal? Without question, the best player in this deal is Devers, for this season and likely several beyond. And all those in the industry questioning Posey's bold move need to acknowledge that the Giants are operating in unique circumstances, not a vacuum. The Giants in recent years repeatedly were rejected by top sluggers, from Giancarlo Stanton to Bryce Harper, Aaron Judge to Shohei Ohtani. Citing medical concerns, they backed out of a deal on a player who was willing to come, Correa. Devers, lacking a no-trade clause (oops!), could not reject them. So paying a premium for him, if that's what it even was, made more sense for the Giants than it did for other clubs. Obviously, not all teams are willing or able to make the same type of commitments as the Giants, who within the last 10 months also retained third baseman Matt Chapman for $151 million and signed free-agent shortstop Willy Adames for $182 million. And let's not ignore reality. Posey, who became president of baseball operations last September, likely will learn the same hard lessons that scar many of his peers: Big deals often do not work out. Advertisement Yet, too often in this sport, teams in markets large and small hedge their bets, playing for tomorrow. Posey, who helped the Giants win three World Series as a player, is having none of it. In an interview earlier this month with the San Francisco Standard's Tim Kawakami, Posey all but signaled his approach to trading season, saying he 'loved' the Giants' 2011 acquisition of outfielder Carlos Beltrán, a rental, for right-hander Zack Wheeler, then a top 100 prospect. The move didn't work out. The Giants failed to make the playoffs that season. Wheeler, after overcoming a series of injuries, including Tommy John surgery, became one of the top pitchers in the game. But Posey, then the Giants' catcher, appreciated, 'the leader of our operation saying, 'Believe in you guys.'' The acquisition of Devers sends the same message, addressing the biggest need of a team that entered Tuesday third in the majors in ERA but only 14th in runs per game. Breslow, of course, believes in his team, too, as he made clear in his own news conference Monday. He indicated he would be active at the deadline, trying to replace some of the offense he lost with Devers. But of course, he never should have lost Devers in the first place. Breslow took responsibility for the breakdown in communication with his biggest star, saying, 'I absolutely need to have the humility to think back on the interactions and figure out what I could have done better.' But he also said the outcome might not have turned out differently, and portrayed Devers as a potentially negative influence on the team's young players. 'As we think about the identity, culture and environment that is created by great teams, there was something amiss here,' Breslow said. 'It was something we needed to act decisively to course-correct.' Well, the Red Sox's pattern of messy divorces with star players also is a threat to their identity, culture and environment, one that should give Roman Anthony and Co. pause when the team comes calling with extensions. Advertisement Breslow, like Posey, is a former player, a pitcher who spent 12 seasons in the majors from 2005 to '17. But while Posey draws praise from Giants players for his presence and leadership, Breslow is perceived by many inside and outside the Red Sox organization as remote, almost robotic. 'Alignment' – that was the fancy word Breslow and Red Sox CEO Sam Kennedy kept using Monday to describe what was missing with Devers. Posey spoke in much plainer terms Tuesday when describing Devers as a 'dude' and saying the qualities of such a player 'are not something you can quantify.' Introductory news conferences are always cause for celebration, and carry only so much weight. But the difference in Devers, who often shunned the media during his final months in Boston, was unmistakable. He laughed. He joked. He referenced Giants legend Barry Bonds sitting in the front row and cracked, 'Just looking at him, my game has improved a lot.' Funny how quickly the Giants turned Rafael Diva into Rafael Devers again. (Top photo of Rafael Devers: Thearon W. Henderson/Getty Images)
Yahoo
23 minutes ago
- Yahoo
Nervy markets await Fed as Mideast conflict rages on
By Rae Wee SINGAPORE (Reuters) -Concerns over escalating hostilities in the Middle East stayed front and centre in markets on Wednesday, sending oil prices higher and investors rushing for the safety of U.S. Treasuries and the dollar while dumping stocks. Investors have grown increasingly nervous over the possibility of a more direct U.S. military involvement as the Israel-Iran air war entered a sixth day, with President Donald Trump calling for Iran's unconditional surrender and warning U.S. patience was wearing thin. "Clearly the Middle East issues have not been solved, and comments by President Trump just mean that things could get more dangerous in that part of the world," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia (CBA). "The markets are trying to figure out that risk of a big U.S. military intervention. It's hard to say exactly what the market is thinking, but judging by the oil price and currencies, they're certainly pricing in at least some risk that something goes very bad there." Oil prices extended their climb on Wednesday, with Brent crude futures up 0.33% to $76.70 per barrel while U.S. crude rose 0.45% to $75.18 a barrel. Both had jumped more than 4% in the previous session. The broad risk-off moves across markets also continued to gather pace. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.26% as did EUROSTOXX 50 futures, which declined 0.4%. U.S. stock futures were little changed after the cash session on Wall Street ended in the red overnight. In currencies, the dollar firmed at a one-week high of 145.445 yen and held to most of its gains against other peers. The euro struggled to recover from its 0.7% fall on Tuesday, and last bought $1.1487. Sterling edged slightly higher to $1.3435, having slid 1.1% in the previous session. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. "The war has demonstrated that the U.S. dollar still retains a bit of haven status in certain situations, such as when the war is seen to raise the risk of disrupting global oil supply, and when the war diverts traders' attention away from those risks that are U.S.-centric," said Thierry Wizman, global FX and rates strategist at Macquarie Group. FED OUTCOME The conflict in the Middle East, combined with prolonged uncertainty over Trump's tariffs and signs of fragility in the U.S. economy, make for a challenging backdrop ahead of the Federal Reserve's policy decision later on Wednesday. U.S. retail sales fell by a more-than-expected 0.9% in May, data showed on Tuesday, marking the biggest drop in four months. Expectations are for the Fed to stand pat on rates, though focus will also be on the central bank's updated projections for the economy and the benchmark interest rate. "We do not anticipate much novelty from the Fed," said Erik Weisman, chief economist at MFS Investment Management. "The only area of interest may come from the new set of forecasts under the Summary of Economic Projections, which may point to slightly slower growth, combined with slightly higher inflation." U.S. Treasury yields were steady in Asia after falling on Tuesday, as investors scooped up the safe-haven bonds in the wake of latest developments in the Israel-Iran conflict. Bond yields move inversely to prices. The benchmark 10-year yield was last at 4.4027%, having fallen roughly 6 basis points in the previous session. The two-year yield stood at 3.9581%. [US/] Elsewhere, spot gold eased 0.12% to $3,384.73 an ounce. [GOL/] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
