Other Nations Move Toward Making Their Own Vaccines as US Cuts Funding
Other nations have largely depended on the US to make shots that are deployed globally. The Covid-19 vaccines, developed by Pfizer Inc. and Moderna Inc. and embraced by the US government, were used by tens of millions of people around the world.
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Yahoo
30 minutes ago
- Yahoo
Dollar slips as investors eye September Fed cut
By Rae Wee SINGAPORE (Reuters) -The dollar weakened on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors eyeing imminent Fed cuts cheered the data and moved to price in a 98% chance the central bank would ease rates next month, which in turn dragged on the dollar. Against the yen, the dollar was last 0.05% lower at 147.76, while the euro was steady at $1.1676, having risen 0.5% in the previous session. The dollar index last stood at 98.08, after falling roughly 0.5% on Tuesday. "The July CPI report showed less evidence of tariff pass-through to consumer prices...(but) I think a September rate cut is less than certain, probably not as certain as current market pricing," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "As the last payroll shows, one report can be sufficient to move the policy debate to one side or another. So I think we still have to wait until the remaining data to print before making a strong case about a rate cut or an on hold decision." U.S. Treasury yields similarly fell on the heightened rate cut expectations, with the two-year yield last at 3.7371%, having swung in a range of nearly 10 basis points on Tuesday. The benchmark 10-year yield was little changed at 4.2965%. [US/] Also eroding investor confidence in the dollar were fresh attempts by Trump to undermine Fed independence, after White House spokeswoman Karoline Leavitt said on Tuesday that the U.S. president was considering a lawsuit against Fed Chair Jerome Powell in relation to his management of renovations at the central bank's Washington headquarters. Trump has been at loggerheads with Powell and has repeatedly lambasted the Fed Chair for not easing rates sooner. The president also hit out at Goldman Sachs CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy and questioned whether Solomon should lead the Wall Street institution. Elsewhere, sterling gained 0.03% to $1.3504. Britain's jobs market weakened again though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. "(The) UK jobs figures pointed to the labour market remaining in fragile shape," said Michael Brown, senior research strategist at Pepperstone. "My base case still has the next 25bp cut pencilled in for November, though there is a long way to go, and a lot of data to come, before then." In other currencies, the Australian dollar dipped 0.05% to $0.6526, while the New Zealand dollar fell 0.03% to $0.5953. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. Sign in to access your portfolio
Yahoo
33 minutes ago
- Yahoo
Draganfly Inc (DPRO) Q2 2025 Earnings Call Highlights: Strong Revenue Growth Amidst ...
Release Date: August 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Draganfly Inc (NASDAQ:DPRO) reported a 37% quarter-over-quarter increase and a 22% year-over-year increase in revenue for Q2 2025. The company achieved a 100% success rate with its Commander 3 XL plus Drops payload system at the US Army Cemex 25 event. Draganfly Inc (NASDAQ:DPRO) closed a $13.75 million public offering, significantly bolstering its balance sheet. The company was selected for a US Southern Border drone pilot program, showcasing its advanced drone capabilities. Draganfly Inc (NASDAQ:DPRO) secured a strategic military order for its Commander 3XL UAV systems, indicating strong demand in the defense sector. Negative Points The company reported a comprehensive loss of $4.7 million for the quarter, compared to a loss of $7.1 million in the same quarter last year. Gross margin decreased to 24.4% from 34.4% year-over-year, indicating pressure on profitability. Higher office and miscellaneous costs, wage costs, and share-based payments contributed to the increased loss. The company is still in the process of obtaining Blue List and Green List certifications, which could impact future sales. There are ongoing challenges in scaling production capacity to meet potential large contract demands. Q & A Highlights Warning! GuruFocus has detected 5 Warning Signs with DPRO. Q: Can you comment on Draganfly's status on the AUVSI green list and the impact of the new drone memo by Secretary Heeth on these classifications? A: Cameron Shell, CEO, acknowledged that initially, the importance of being on the Blue List was underestimated. Draganfly is now in the process of testing for the Blue List and has submitted for the Green List. Despite the delay, it hasn't hindered sales into defense and law enforcement. The focus remains on demonstrating capabilities, performance, and compliance with supply chain criteria. Q: With a healthy cash balance, what are Draganfly's plans for these funds? A: Cameron Shell, CEO, stated that the focus is on organic growth and scaling the ability to iterate quickly, which is crucial for maintaining a competitive advantage. While some M&A activity is being considered, the primary goal is to ensure customer confidence and support growth with a strong balance sheet. Q: How is Draganfly positioned in terms of production capacity to handle potential large contracts? A: Cameron Shell, CEO, explained that Draganfly has built up production capacity over the last couple of years, which was necessary to secure current orders. The company is also pursuing additional contract manufacturing capabilities to scale further, ensuring readiness for detailed customer requirements. Q: Has Draganfly seen increased interest from police departments adopting drones as first responders? A: Cameron Shell, CEO, noted significant interest, particularly from smaller and rural departments. While larger departments have been early adopters, the focus is on providing multi-mission drones to smaller agencies, which are quicker to move and have different budget constraints. Q: Could an end to the Ukraine conflict negatively impact Draganfly or the drone industry? A: Cameron Shell, CEO, believes that the conflict has highlighted the essential role of drones, and their use will likely continue to increase even if the conflict ends. The focus will shift to areas like ISR logistics, demining, and reconstruction, ensuring continued demand for diverse drone applications. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
33 minutes ago
- Yahoo
Oil prices little changed as industry report points to slowing US demand
By Nicole Jao (Reuters) -Oil prices were little changed on Wednesday after falling in the previous session after an industry report showed U.S. crude stockpiles climbed last week illustrating the end of the seasonal summer demand period is nearing. Brent crude futures gained 3 cents to 66.15 a barrel at 0102 GMT after dropping 0.8% in the previous session. U.S. West Texas Intermediate crude futures fell 3 cents to $63.14 after declining 1.2%. Crude inventories in the U.S., the world's biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly. [API/S] Should the U.S. Energy Information Administration data set for release later on Wednesday also show a decline, it could indicate that consumption during the summer driving season has peaked and refiners are easing back their runs. The demand season typically runs from the Memorial Day holiday at the end of May to the Labor Day holiday in early September. Analysts polled by Reuters expect the EIA report to show crude inventories fell by about 300,000 barrels last week. [EIA/S] Outlooks issued by OPEC and the EIA on Tuesday pointed to increased production this year which also weighed on prices. But both expect output in the U.S., the world's largest producer, to decline in 2026 while other regions will increase oil and natural gas production. U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt output to fall in 2026, the EIA forecast in a monthly report. The Organization of the Petroleum Exporting Countries' monthly report said global oil demand will rise by 1.38 million bpd in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged. The White House on Tuesday tempered the expectations for a quick Russia-Ukraine ceasefire deal, which may lead investors to reconsider an end to the war soon and any easing on sanctions Russian supply, which had been supporting prices. U.S. President Donald Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss ending the war. "Trump downplayed expectations of his meeting with President Putin ... However, expectations of additional sanctions on Russian crude continue to fall," ANZ senior commodity strategist Daniel Hynes wrote in a note.
