Indian Energy Shares Tumble After Regulator's Power Price Reform
The stock plunged 23% at 11:25a.m. local time, the biggest ever intra-day decline in its history.
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Yahoo
25 minutes ago
- Yahoo
Bitcoin and crypto are on an upswing. How long can it continue?
July was good to Bitcoin, and some analysts think this may just be the warmup. Although Bitcoin was last down 0.35% at $115,396.40, below its record peak of around $123,000, some analysts aren't worried. Tom Lee, managing partner and head of research at Fundstrat Global Advisors who predicted Bitcoin's peak in 2024, has said he thinks Bitcoin willl reach $250,000 before the end of the year. Bitcoin climbed to a record high on July 14 as weekly cryptocurrency investment products saw record weekly inflows, pushing the total crypto market to top $4 trillion for the first time ever. With new legislation signed into law last month and skyrocketing institutional buying, there's little doubt digital assets are becoming more mainstream, they say. Earlier in the year, crypto exchange Coinbase also became the first crypto exchange to join the S&P 500, marking a major milestone for the digital asset industry. "Bitcoin pulling back after reaching a new all-time high is not unusual," said Samer Hasn, Senior Market Analyst at global broker Often, rallies are followed by dips, so people can take some profits around key technical levels. The drops also allow people who are sidelined and don't want to buy at the highs a lower entry point. Regulations give institutions green light The GENIUS Act, signed into law on July 18, creates a regulatory framework for stablecoins, a popular type of cryptocurrency tied to the value of stable assets like the U.S. dollar. The Act "marks a turning point in federal crypto oversight," said Frank Walbaum Market Analyst at socal investing platform Naga. "Regulatory clarity could support institutional adoption and long-term market maturation." Crypto has already seen a flood of new interest, with money flooding into crypto exchange traded funds, or ETFs that trade like stocks on an exchange but have holdings that track an index or other underlying asset. iShares Bitcoin Trust ETF, which seeks to reflect generally the performance of the price of bitcoin, became the fastest growing ETF ever in terms of assets. "The crypto ETF pie is growing fast because of broader adoptions after executive orders by President Donald Trump that are in the process of breaking down regulatory barriers that previously stood in the way of broader crypto adoption," said Bryan Armour, Morningstar's director of ETF and passive strategies. Who's buying crypto? Buyers are mostly young American males, according to a Deutsche Bank survey of U.S., UK and EU residents in June. In the United States, 23% of men versus 13% of women use cryptocurrency as a form of payment or personally invest in crypto, the survey showed. That's up from 20% and 12%, respectively, in January. Individual investors also tend to be young in the U.S. Among 18–34-year-olds, the share of investors increased to 29% in June from 24% in January, due to "excitement over Trump's pro-crypto administration," said Marion Laboure, senior economist at Deutsche Bank. Adoption rates have been on an upwards trend since Trump's election in November. U.S. investors also tend to have more money. U.S. crypto adopters tend to have income above $100,000 annually (34%). It was a 32% adoption rate for those earning between $50,000 and $100,000. More companies also are building Bitcoin treasuries. For example, MicroStrategy, which began buying Bitcoin in 2020, has since sold equity, issued various types of debt and layered stacks of preferred shares on top to raise money to buy more. In its latest earnings regulatory filing, it said it would do so again, selling $4.2 billion more in preferred stock to buy more of the digital coin. Its Bitcoin holdings helped the company's results top second-quarter estimates with a surprising profit. Metaplanet also said in a regulatory filing it plans to potentially issue up to $3.7 billion worth of perpetual preferred shares and use proceeds to buy more Bitcoin. It has said it wants to accumulate 210,000 Bitcoin by the end of 2027. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning. This article originally appeared on USA TODAY: Bitcoin had a record July. Can its winning streak continue? Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
British American Tobacco (LSE:BATS) Reports GBP 4,512M Income with Revenue Growth Expectations
British American Tobacco recently reported steady performance in its half-year earnings, with a slight dip in sales but stable net income. The company also confirmed its full-year guidance, anticipating revenue growth at the higher end of expectations. This positive outlook coincided with a 25% rise in its stock over the last quarter, possibly bolstered by the expanded buyback plan and sales performance of new product categories. Despite broader market downturns, such as tariff-induced investor concerns and weaker jobs data, British American Tobacco's strategic corporate actions likely contributed to buoyant investor sentiment. Every company has risks, and we've spotted 3 weaknesses for British American Tobacco you should know about. Trump's oil boom is here — pipelines are primed to profit. Discover the 22 US stocks riding the wave. British American Tobacco's recent performance and optimistic outlook, as explored in the introduction, highlight its resilience amid challenging market conditions. Over the past five years, the company's total return, including share price and dividends, was 138.77%, illustrating robust long-term shareholder value. In comparison, over the past year, the company's stock performance exceeded the UK Tobacco industry, which returned 40.9%. This strong performance may reflect investor confidence in BAT's innovative product strategies and operational efficiency improvements. Despite broader market headwinds, the company's share price ascent in the last quarter suggests positive investor sentiment fueled by expanded buybacks and anticipated revenue growth from new categories. The impact of recent developments on British American Tobacco's revenue and earnings forecasts is significant. The expansion in new categories and investments in innovation such as glo Hyper Pro and Velo+ are expected to boost future revenue growth. Operational efficiencies and focus on the U.S. market further underpin profit margin enhancement expectations. Analysts forecast earnings to reach £7.9 billion by 2028, a surge from current levels, supporting optimistic future growth assumptions. Despite trading at a slight premium to the analyst consensus price target of £39.0, the current share price of £40.40 reflects investor confidence in the company's future trajectory. The small share price discount to the target underscores varying analyst perspectives on BAT's valuation. It highlights the importance of individual assessment of the company's potential, given its ambitious revenue and earnings targets amidst ongoing industry challenges and regulatory risks. Thus, investors may want to critically evaluate whether recent operational and market developments align with long-term growth expectations. In light of our recent valuation report, it seems possible that British American Tobacco is trading behind its estimated value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LSE:BATS. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Fast Company
27 minutes ago
- Fast Company
Why your student debt balance may start climbing again this week
Millions of student loan borrowers are about to see a jump in their monthly payments. That's because an interest-free pause under the Saving on a Valuable Education (SAVE) plan has ended as of Aug. 1. SAVE, rolled out in 2023 under Biden, brought many borrowers' payments down to $0 a month, ensured borrowers' balance wouldn't grow as long as they made timely payments, and massively cut undergraduate loan balances. 7.7 million federal student borrowers enrolled in the plan. But now, the end to a pause in interest under Trump's 'Big, Beautiful Bill' means, interest will begin accruing once again on loans. In a press release earlier this month, announcing the upcoming end to the pause, U.S. Secretary of Education Linda McMahon called the SAVE program 'unlawful.' McMahon asserted, 'Congress designed these programs to ensure that borrowers repay their loans, yet the Biden Administration tried to illegally force taxpayers to foot the bill instead.' McMahon continued, 'Since day one of the Trump Administration, we've focused on strengthening the student loan portfolio and simplifying repayment to better serve borrowers. As part of this effort, the Department urges all borrowers in the SAVE Plan to quickly transition to a legally compliant repayment plan – such as the Income-Based Repayment Plan (IBR).' What should SAVE enrollees expect? Starting Friday, SAVE participants will see interest charges, even if they aren't making payments. The added interest means monthly bills will be higher, but how much higher depends on income. However, if they switch plans to the IBR plan McMahon referenced, borrowers may see their monthly bills rise drastically. While SAVE calculated monthly payments based on 5% of a borrower's income, the IBR plan takes 10%. For older loans, it ticks up to 15%. (Student loan forgiveness for those with IBR plans was also recently paused under Trump). Some experts believe the transition will pose a massive challenge for borrowers, as they switch to other repayment plans. Nancy Nierman, assistant director of the Education Debt Consumer Assistance Program in New York City, said, per CNBC, 'In severe cases, it could result in people being forced to move, or they will just resign themselves to default and involuntary collections.' Are there any new plans in place? In addition to IBR plans, borrowers will have access to a new republican-led plan, Repayment Assistance Plan (RAP), but not until next July. Under the new plan, payments will range from 1% to 10% of a borrower's earnings, with bills rising the more they earn. Unlike IBR plans, RAP does not shield a portion of the borrower's income, and is based on total earnings before taxes. According to the National Consumer Law Center, the RAP plan is 'significantly more expensive for borrowers than the SAVE plan, but will also be more expensive than the other existing IBR plans for low-income borrowers' What should SAVE enrollees do? The Department of Education said earlier this month that it will begin contacting SAVE enrollees about next steps and that participants should begin determining which plan best suits their needs. 'To compare available repayment plans, the Department encourages borrowers with loans in the SAVE Plan to use the Loan Simulator to estimate monthly payments under available repayment plans, determine repayment eligibility, and learn which option best meets their repayment goals,' it said. The department also noted that in May, it resumed collections on delinquent loans, saying it has 'emailed more than 23 million borrowers reminding them of their legal obligation to repay their loans as well as the benefits of making regular progress toward repayment.' SAVE participants also have the option to stay in forbearance, however, the interest they accrue could be significant. Some experts say, in that case, making interest-only payments can help stave off mounting balances down the road. 'If you know it's going to really financially hurt you to start making payments, then just stay in the forbearance,' Megan Walter, senior policy analyst at the National Association of Financial Aid Administrators, said per CNBC. 'If you can at least pay the interest, I would do that.'
