Author: News Room

TEL AVIV – ParaZero Technologies Ltd. (NASDAQ:PRZO), an aerospace company specializing in drone technologies, disclosed its financial outcomes for the fiscal year ending December 31, 2023. The company reported a 10.8% increase in sales, rising to $620,508, primarily attributed to a strategic shift toward original equipment manufacturer (OEM) integrations and recurring revenues. Despite the uptick in sales, the company’s net loss widened significantly, jumping by 128.1% to $3,771,379 compared to the previous year. This was largely due to non-cash items and an overall increase in operating expenses. The loss per share stood at $0.77 for 2023, up from $0.49 in…

A look at the day ahead in U.S. and global markets from Mike Dolan The U.S. dollar seems to have emerged a clear winner from the week’s magical mystery tour of world central banks – with record high Wall St and world stocks getting a shot across the bow from Apple (NASDAQ:)’s antitrust bust. A whistle stop look at the week’s multiple central bank readouts shows a surprise rate cut in Switzerland, cuts in Mexico and Brazil and an unusually dovish Bank of England tilt that brings a June UK rate cut into view. And there were promises of more…

EUR/USD pierces below the key 200-day SMA on Friday after Bundesbank’s Nagel raises prospect of an early interest-rate cut.  The pair comes off its lows in the last hour, however, supported by positive German IFO Business Sentiment data.  EUR/USD is poised to extend breaks below key support levels as key central bank figures line up to speak.  EUR/USD is trading down almost half a percent on Friday, in the lower 1.0800s, below the 200-day Simple Moving Average (SMA), after comments from the President of the Bundesbank Joachim Nagel, suggested the European Central Bank (ECB) could be in a position to cut rates before the…

Fantom’s FTM token has rallied over 190% in four weeks. The network’s upcoming Sonic upgrade may have catalyzed the bull run. The upgrade’s testnet has demonstrated faster transaction processing speeds and finality times. Layer 1 blockchain Fantom’s native token FTM has gained over 190% in four weeks, becoming the best-performing non-meme cryptocurrency among the top 100 digital assets by market value. FTM’s price has surged from 40 cents to $1.16, reaching the highest since April 2022, according to data tracked by CoinGecko. The token’s market capitalization has jumped to $3.29 billion, making it the 44th largest digital asset in the…

LIVONIA, Mich. – A small electric vehicle is having a big impact on the global automotive industry.It’s not the EV itself that’s making waves but its price — and its potential to disrupt domestic auto industries around the world.The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800 yuan (or less than $10,000), and reportedly banks a profit for the increasingly influential Chinese automaker.That latter point — EV profits where U.S. automakers have mostly failed to turn any — combined with the expansion of Chinese automakers into Europe, Latin America and elsewhere has automotive executives and politicians, from…

The recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan.The U.S. Federal Reserve on Wednesday raised its U.S. GDP growth projection to 2.1% for 2024, up from 1.4% in its December projections, as the economy continues to display resilience despite high interest rates as the central bank seeks to manage inflation levels.Meanwhile, the labor market has remained relatively hot despite tighter monetary conditions, with unemployment remaining below 4% in February and the economy adding 275,000 jobs.The Fed also raised its…

Voters in Michigan and Pennsylvania – two states that flipped from red to blue in the 2020 presidential election – begin this year’s general election campaign more dissatisfied than pleased with the candidates they have to choose from, with a fairly small but crucial share saying they are open to changing their minds on the race, according to new CNN polling conducted by SSRS. The surveys of registered voters find a dead-even race between Donald Trump and Joe Biden in Pennsylvania (46% each), with Trump ahead in Michigan (50% Trump to 42% Biden). Both polls were fielded after Trump and Biden each clinched enough delegates…

Topline Medicare will soon cover popular weight loss drug Wegovy for its members, as long as they have heart disease and an increased risk of heart attack and other cardiovascular issues, the federal health insurance program confirmed with Forbes on Thursday, bucking the agency’s trend of not providing coverage for weight loss drugs. Key Facts Medicare issued guidance Thursday allowing Medicare Part D plans, which are offered by private insurers and cover costs for medications taken at home, to cover weight loss drugs as long as they treat diabetes or reduce risks of cardiovascular problems in adults who have heart…

Volkswagen expects roughly unchanged profits for 2024 but even this modest aim will be hard to achieve because of economic conditions in general and problems with electric cars in particular. Volkswagen has presented a long-term dilemma for investors. Its vehicles are competitive, but its finances and weak profitability reflect the political nature of its ownership. VW shares are cheap by industry standards, and compared with Toyota, its counterpart in size and global presence, its efficiency is poor. The Wall Street Journal’s Heard on the Street column put it this way. “Volkswagen is the archetypal legacy automaker: flabby, slow-moving and valued…

WELT research shows that the Russian army is increasingly employing Starlink devices on the front.Ukraine’s army says Starlink terminals in Russian-held areas are active, and more are being added.Russian use of the DoD-backed network is costing Ukraine one of its foremost advantages. Russian troops are increasingly using Starlink satellite systems in their fight against Ukraine, research by the German daily newspaper WELT reveals. In one intelligence center, soldiers presented evidence of Russia’s increased Starlink usage and described the dramatic consequences for Kyiv.For just over two years, the Ukrainian army has been using an exclusive weapon that has granted it a…