Poland's Tusk Shelves Costly Tax Promise Amid Strained Budget
In a U-turn on a pledge before he was elected in 2023, Tusk said that increasing the untaxed amount to 60,000 zloty ($16,100) wouldn't be possible next year and likely not in 2027.
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Democrats Schumer, Jeffries demand meeting with GOP to avert government shutdown
Sen. Chuck Schumer and Rep. Hakeem Jeffries Monday called on their Republican counterparts to meet immediately to avert a government shutdown looming as soon as the end of next month. The Democratic congressional leaders, both of whom are from New York, called on Senate Majority Leader John Thune, R-South Dakota, and Speaker Mike Johnson, R-Louisiana, to sit down this week to discuss a plan to pass next year's budget, which would normally require negotiation with the minority party to secure the 60 votes needed in the Senate to avoid a filibuster. 'We have the responsibility to govern for all Americans and work on a bipartisan basis to avert a painful, unnecessary shutdown at the end of September,' Schumer and Jeffries wrote. The Democratic leaders noted they are willing to work with Republicans on a bipartisan basis to negotiate a budget deal that would keep the government open past Sept. 30. But they accused President Donald Trump and GOP leaders of plotting to govern without any input from Democrats and shut down the government if they don't get their way. 'Many within your party are preparing to 'go it alone' and continue to legislate on a solely Republican basis,' the Democratic leaders wrote. Government funding will expire Sept. 30. Lawmakers say to prevent a shutdown Congress will likely need to pass a stopgap funding measure when lawmakers return to Washington, D.C., after Labor Day. In exchange for their cooperation in passing new budget measures, Democrats want Republicans to agree not to turn around later in the year and pass a rescissions package cutting some of that same funding. Republicans recently voted to claw back $9 billion in previously appropriated funding and defunded the Corporation for Public Broadcasting, taking advantage of the legislative loophole that rescissions only require a simple majority in the Senate, not a 60-vote bipartisan supermajority. Schumer and Jeffries are also pressing for the administration to release funding it has unilaterally held up even though it was allocated by Congress last year. Republicans have suggested they may seek to pass one or more policy bills before the midterm elections using the arcane reconciliation process, like they successfully did with Trump's One Big Beautiful Bill. That measure, which polls say is very unpopular with voters, enacted draconian cuts to health care spending to bankroll tax cuts for the wealthy and big corporations. _____
Yahoo
9 minutes ago
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Pharma CEOs downplay impact of tariffs amid rising cost concerns
Despite analyst warnings of heightened financial risk, pharma CEOs across the US and Europe remain confident that the latest US-EU trade deal and associated tariffs will have limited impact. As per a new deal between the two global economic powerhouses, the EU will pay the US a tariff rate of 15% for pharmaceuticals. Medicines are the largest European exports to the US by value, and the EU accounts for approximately 60% of all pharmaceutical imports to the US. Top-selling drugs such as AbbVie's Humira (adalimumab), MSD's Keytruda (pembrolizumab), and Novo Nordisk's Ozempic (semaglutide), for example, are manufactured in Europe and sent to the US, representing billion-dollar markets. Analysts from GlobalData's Pharma Strategic Intelligence team say that: 'Companies manufacturing pharmaceutical products in Europe will need to anticipate financial exposure when planning launches in the US due to the unfavourable gross to net dynamics, weakened pricing leverage with US payers, and slower commercial uptake as insurers reassess cost effectiveness due to the tariffs.' US President Donald Trump has had a sharp focus on the pharma industry since assuming office. Analysts predict that adding duties to incoming goods will likely elevate costs across the pharmaceutical value chain, ultimately raising drug prices for patients. The policies make for interesting analysis when combined with his desire to cut prescription prices in the country. Diederik Stadig, sector economist for TMT & healthcare at ING, wrote in a July note: 'A tariff would hurt consumers most of all, as they would feel the inflationary effect of tariffs directly when paying for prescriptions.' The European Federation of Pharmaceutical Industries and Associations (EFPIA), for example, has maintained that tariffs on medicines are ineffective. The group says such policies only hinder patient access to medicines. GlobalData also forecasts disruptions to launch planning, particularly late-stage assets with EU-based manufacturing and production planned for entry into the US. R&D budgets of pharmaceutical companies are already under pressure and the firefighting of tariffs could place additional strain on resources. CEOs signal resilience CEOs of big pharma companies, however, are maintaining a brave face despite the projected headwinds. The UK-EU trade deal announcement arrived in the middle of the pharma industry's Q2 reporting period, where execs were pressed on financial outlooks. In a Q2 earnings call, AbbVie's CEO Rob Michael said the US company is 'fairly insulated' from any tariff-related impacts in 2025, though caveated that the company would not speculate on the longer-term consequences. AstraZeneca shared the same sentiment. CEO Pascal Soriot said the British-Swedish drugmaker is 'almost self-sufficient in terms of supply,' adding that 'tariffs is not an issue that is really affecting us very much.' However, AstraZeneca is on a long list of pharma companies transferring manufacturing to the US. This includes a $4bn investment to build a new manufacturing plant in Virginia. Sanofi has outlaid $20bn to bolster US manufacturing through 2030 and Roche unveiled a similar $50bn investment strategy, to name just a couple. The team at GlobalData added: 'Ultimately, the recent US-EU trade deal has increased the level of uncertainty within the pharmaceutical industry, raising concerns on the potential of tariffs increasing past 15% in the future. 'While the full impact will take time to unfold, it will be interesting to see the adoption of different strategies on how the pharmaceutical industry looks to balance innovation, and ensuring patient access, while managing the pressures of tariffs as they unfold into a certain reality.' A critical part of the industry's future also relies on the outcome of the US government's Section 232 investigation into the drug sector. The probe, which Trump initiated to evaluate the role of medicine imports on national security, could result in further tariffs being imposed. MSD CEO Rob Davis said in the company's Q2 earnings call: 'We need to see more clarity both from the administration and just overall as to how exactly [the 15% tariff] is going to play out. It's still not clear exactly how this relates relative to the February investigation and the timing of whether these apply now or will be phased in until there's further guidance.' AbbVie's Michael said: 'We're having constructive discussions with the administration on sectoral tariffs. Clearly, the best way to motivate that is through tax incentives as well as a trade agenda that prioritises innovation. We're well positioned as a company, but we're not going to be able to really give you any details until we understand the outcome of the 232 investigation.' Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "Pharma CEOs downplay impact of tariffs amid rising cost concerns" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
9 minutes ago
- Yahoo
Palantir Technologies Inc. (PLTR): A Bear Case Theory
We came across a bearish thesis on Palantir Technologies Inc. on Valueinvesting subreddit by smltc. In this article, we will summarize the bulls' thesis on PLTR. Palantir Technologies Inc.'s share was trading at $158.80 as as of July 25th. PLTR's trailing and forward P/E were 690.43 and 277.78, respectively according to Yahoo Finance. A software engineer manipulating a vast network of code on virtual monitors. Palantir Technologies has emerged as one of the most talked‑about names in the AI boom, with its data analytics platforms Gotham and Foundry, initially designed for intelligence agencies, now widely used by enterprises and governments. The company's newly launched AI platform enables natural‑language querying, further fueling investor excitement about its potential to dominate the AI‑driven data analytics space. Financial performance has been robust, with Q1 2025 revenue rising 39% year‑over‑year to $884 million, U.S. sales up 55%, and commercial revenue surging 71%. Palantir remains profitable, earning $462 million in 2024 and $214 million in the latest quarter, supported by $5.4 billion in cash reserves and no long‑term debt. Its customer base remains heavily skewed toward government contracts, contributing roughly 55% of revenue, and the top 20 clients account for a substantial share, creating concentration risk. Shares have soared more than 400% over the past year, closing around $159 on July 25, propelled by AI optimism. However, the valuation—trading at over 120× trailing sales and 200× next year's earnings—is historically extreme, implying that even modest growth disappointments could lead to steep declines. A discounted cash‑flow analysis, even with bullish assumptions, suggests fair value closer to $20–30 per share, in line with other fast‑growing software peers trading at 8–20× sales. Risks include intensifying competition from tech giants, reliance on large customers, potential government budget tightening, and shareholder dilution from heavy stock‑based compensation. While Palantir's fundamentals remain strong, analysts caution that exuberant pricing leaves little margin for error, making the stock a speculative bet despite its operational momentum. Previously we covered a bullish thesis on Palantir Technologies Inc. (PLTR) by Deep Value Returns in May 2025, which highlighted its strong growth, AI leadership, and profitable scaling despite a premium valuation. The company's stock has appreciated about 46% since, driven by AI optimism. smltc shares a contrarian view and emphasizes extreme valuation risks and downside potential. Palantir Technologies Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 77 hedge fund portfolios held PLTR at the end of the first quarter which was 64 in the previous quarter. While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None.
