An Israel-based drug manufacturer Teva Pharmaceutical Industries Ltd. (TEVA) reported a loss in the second quarter compared to profit in the prior year. It reaffirmed its fiscal year 2022 earnings per share outlook, but cut annual revenues outlook mainly due to continued foreign exchange headwinds. Meanwhile, the company reached a settlement of over $4 billion in a lawsuit for their […]

While reporting financial results for the second quarter on Tuesday, Corning Inc. (GLW) trimmed its core earnings and core sales guidance for the full year 2022. It also provided outlook for the third quarter. For the third quarter, the company expects core earnings in a range of $0.51 to $0.55 per share on core sales between $3.65 billion and $3.85 […]

It was not easy to find a safe haven during the first half of 2022. Shares and bonds fell in tandem, undermining the balanced funds that have given investors a smoother ride through the ups and downs of the investment cycle. Hopes that cryptocurrencies and gold would be effective diversifiers evaporated when they turned out to be risky assets in […]

Tax experts have warned that some cryptocurrency traders could be on the hook for tens of thousands of dollars in unexpected tax bills due to the collapse of major stablecoin Terra, despite a crypto market crash pushing many investors into the red. Crypto prices have cratered as much as 60 per cent in the past eight months after hitting record […]

Labor’s proposal to beef up the Abbott government’s “safeguard mechanism” on carbon pollution will take significant pressure off the federal budget, says Treasury Secretary Steven Kennedy. Under the federal government’s existing Emissions Reduction Fund, auctions are run to award federal government grants to participants who act to reduce emissions. Labor has indicated a willingness to use the safeguard mechanism to […]