Citigroup Inc. Bottom Line Retreats In Q2

Cipla Gets Final FDA Approval For ANDA For Icatibant Injectable

Cipla Ltd. (CPLFY.PK) announced Tuesday that it has received final approval for its Abbreviated New Drug Application (ANDA) for Icatibant Injectable 30mg/3mL from the U.S. Food and Drug Administration (FDA).

Cipla’s Icatibant Injectable Pre-Filled Syringe 30mg/3mL is AP-rated generic version of Shire’s Firazyr. Icatibant injection is indicated for the treatment of acute attacks of hereditary angioedema (HAE) in adults 18 years of age and older.

According to IQVIA (IMS Health), Firazyr and its generic equivalents had US sales of approximately $270 million for the 12-month period ending May 2020.

‘Bye Don Jr.’: New Attack Ad Turns Trump Son’s Words Against The President

A new attack ad from the progressive PAC MeidasTouch hits President Donald Trump close to home. 

It takes the words of Donald Trump Jr. as he attacks former Vice President Joe Biden and turns them against the president: 

In a statement released with the video, MeidasTouch said: 

“The Trump children, propped up in this regime by the bizarre and shameless nepotism seen in banana republic dictatorships, represents the blend of incompetence, entitlement and cringeworthy hypocrisy that has propelled America into disaster we are now in under Trump.”

The video caused #ByeDonJr to trend on Twitter overnight, much like a previous video against Ivanka Trump ― a daughter of and adviser to the president ― caused #ByeIvanka to go viral. 

MeidasTouch was founded by attorney Ben Meiselas, who represented former San Francisco 49ers quarterback Colin Kaepernick in his settlement with the NFL, along with his two brothers. Previous ads from the group have hit Jared Kushner ― Ivanka Trump’s husband ― and counselor to the president Kellyanne Conway, among others.

U.S. Producer Prices Unexpectedly Drop 0.2% In June

Producer prices in the U.S. unexpectedly decreased in the month of June, according to a report released by the Labor Department on Friday.

The Labor Department said the producer price index for final demand fell by 0.2 percent in June following a 0.4 percent increase in May. Economists had expected prices to climb by another 0.4 percent.

The unexpected drop in producer prices came amid a sharp pullback in food prices, which plunged by 5.2 percent in June after spiking by 6.0 percent in May.

On the other hand, the report said energy prices soared by 7.7 percent in June after jumping by 4.5 percent in the previous month.

Excluding food and energy prices, core producer prices inched up by 0.1 percent in June after rising by 0.3 percent in May. Core prices were also expected to increase by 0.4 percent.

The Labor Department said prices for final demand services fell by 0.3 percent in June, as a 1.8 percent slump in prices for trade services more than offset higher prices for transportation and warehousing services.

Nintendo and Lego teamed up to create a Lego version of the classic NES game console, on sale August 1 for $200

  • Lego and Nintendo are celebrating the iconic original Nintendo console with a Lego re-creation that comes complete with a Lego "Super Mario Bros." cartridge and a Lego old-school TV.
  • The set is scheduled to launch this August through Lego's website, and will be available in stores starting in 2021.
  • It will cost $199.99.
  • Check out a video of the Lego Nintendo Entertainment System below!
  • Visit Business Insider's homepage for more stories.

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South Africa's TFG to raise 3.95 bln rand to cut debt

July 14 (Reuters) – The Foschini Group (TFG) said on Tuesday it was looking to raise up to 3.95 billion rand ($235.35 million) through a rights offer to cut its debt, as the South African retailer faces challenges in its core markets.

“The board of directors and management of TFG believe it is prudent and necessary to reduce TFG’s financial indebtedness now by way of the rights offer,” the company said in a statement.

TFG on Monday announced its plan to acquire certain stores and selected assets of Jet from Edcon’s administrators.

Citigroup Inc. Bottom Line Retreats In Q2

Citigroup Inc. (C) announced a profit for second quarter that dropped from the same period last year.

The company’s profit came in at $1.32 billion, or $0.50 per share. This compares with $4.80 billion, or $1.95 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.4% to $19.77 billion from $18.76 billion last year.

Citigroup Inc. earnings at a glance:

-Earnings (Q2): $1.32 Bln. vs. $4.80 Bln. last year.
-EPS (Q2): $0.50 vs. $1.95 last year.
-Analysts Estimate: $0.28
-Revenue (Q2): $19.77 Bln vs. $18.76 Bln last year.