Latest news with #PARC
CNBC
12 hours ago
- Business
- CNBC
With another tariff deadline looming, these 10 things are going the right way for stocks
Conventional wisdom holds that as we get closer and closer to the coming deadline for tariff resolution, the market will become more treacherous, especially for highly valued stocks. I don't know who writes these stories. I always check the bylines and I have never worked with them or hired them. I will tell you this: their lack of knowledge of how the market works is painful. Their shoddy knowledge of market history would never be tolerated in any classroom. They are, what we used to call at The Harvard Crimson, "filler-up stories," meaning stories that had to be written because copy was needed. In truth, while the deadline looms, there is no relation between the highly valued stocks and the events at hand. I actually expect severe news about South Korea and Japan before Aug. 1 — the Trump administration's "hard deadline," in the words of Commerce Secretary Howard Lutnick, for when new country-specific duty rates will come into effect. Korean car companies "make" vehicles here, but the White House would argue to you that all they do is assemble them here, while the more highly valued pieces of a car are made in the home country. Japan makes even less here but is defended, like Korea, by our soldiers, and I could see President Donald Trump invoking that fact to put on some capricious number — call it 35% tariffs on their imports — because that level is eye-grabbing. So, I doubt we're even going to get to the drop dead date of Aug. 1 without more drama. Does anyone who trades or invests think that the tariffs will influence the most highly valued stocks, none other than my newly minted cohort called PARC — Palantir , Applovin , Robinhood and Coinbase ? These all have room to run because if you are willing to pay 100 times earnings it means nothing to pay 200. That's the gospel. How can these writers not know that? Can Palantir be stopped by Canadian tariffs? Oh please, and if crypto gets knocked down, it will get up again. It's never going to keep that down. Let's flip this moment on its head and question what's buoying the near-record market as second-quarter earnings season picks up steam (we have five Club names reporting this week). I have 10 things on the list, some already happening and others more forward-looking. First, and most obvious: earnings have been terrific. Yes, there is an occasional Abbott Labs , which was brutalized by China, or Netflix , which was challenged by sky-high expectations. But the banks have set the tone, and the pastiche that closed out the week all came in very strong. I expect that to continue, with the only potential weak spot being the drugmakers. Just not enough blockbusters and some very weak pipelines. It's been a brutal year for health care overall, sitting last among all 11 sectors in the S & P 500 . Second, Trump's "big beautiful bill" contains so many provisions that will boost the economy that I think we need to rethink the possibility of a hobbled consumer. Consider these: An extension of the 2017 tax cuts that were set to expire at the end of this year, which could've resulted in an effective tax increase across income cohorts. This is particularly helpful for those who make less than $100,000. A tax deduction worth up to $25,000 for employees who earn tips, a huge win for the working class. Millions of U.S. workers stand to benefit from this. Increased standard deduction to $31,500 (from $30,000) for married joint filers and $15,750 (from $15,000) for single filers. That can make taxes easier to figure out and deliver a bigger benefit. Max child tax credit of $2,200 per child, up from $2,000, which impacts around 40 million families. Expanding 529 savings plans to cover workforce credentialing programs in areas like the trades. A new deduction on car loan interest for vehicles made in the U.S., capped at $10,000 a year. For higher earners, the size of the deduction is reduced. Tax-advantaged savings accounts for newborns, the so-called "Trump accounts." Some tax relief for seniors on Social Security benefits. These are huge benefits that will pump hundreds of billions in the U.S. economy and it's like no one ever cares. Tariffs are important. But these put money in the hands of spenders. Third, business get more tax relief on spending, building and research-and-development costs than anyone expected. Accelerated deductions and credit for building things will set off another boom. I talked about these in a previous piece . Every time I have ever seen this kind of relief, it generates far more spending and jobs than anyone expects. Fourth, we seem to be oblivious to how countries are signaling to Washington that they are going to make their companies build here in order to get some relief from the White House. There's also re-shoring to contend with. Sure, the White House may be circumspect about an Apple putting $500 billion into the U.S. economy in the next four years, but I'm not. Fifth, the amount of building that needs to be done for data centers and for the electric grid are so gigantic that they might be considered the equivalent of the biggest public works campaigns in history, and they include a huge labor component not often addressed. Don't forget that nuclear power overhauls are gigantic projects. Sixth, the Federal Reserve's new stress tests for banks will allow them to lend far more than they currently do. We forget how much heat there has been on the banks in the wake of the financial crisis to be incredibly conservative. That's over. Seventh, the opening of all sorts of land for drilling and the approval of a huge number of new pipelines will create a second renaissance of the U.S. energy sector. Eighth, two industries have so much business and are so important to the U.S. economy that they will be colossal sources of work: aerospace, where Boeing has to expand to meet new orders, and defense, where we are depleted by Ukraine. A heavy component in this sector is new kinds of weapons including drones. Ninth, the initial public offering market is primed and ready, and I think can create new jobs and new wealth for employees and sustained profits for the investment banks, which is why they are such great buys. We own Goldman Sachs for the Club. And finally No. 10, it's been so easy to bet against stocks for so long because the Biden administration had been so anti-business, particularly when it comes to mergers and acquisitions. That's over. Now short-sellers will be incredibly scared to lean on stocks. Witness the rally in the railroads last week that crushed shorts banking on weaker transport earnings. Now, again, Trump seems to do whatever is necessary to derail us in astounding fashion. But we need to think more creatively. When we hear talk of him firing Fed Chair Jerome Powell, what you need to think is that no matter what, lower rates lie ahead. I don't think it will be because of a weaker economy because of what I just detailed, but because Trump wants to have a gross domestic product boom so he can say we are the fastest-growing, most-powerful country in the world. That's what Make American Great Again stands for. Even if you think it is a gigantic fraud, remember that Trump — through a gigantic hole in the budget and pro-business agencies — has created the circumstances that could lead to the opposite of what the "filler-up stories" say will happen. (Jim Cramer's Charitable Trust is long GS and ABT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Business Recorder
2 days ago
- Politics
- Business Recorder
PARC chairman sent to judicial remand
ISLAMABAD: A local court on Friday sent Pakistan Agriculture Research Council (PARC) Chairman Dr Ghulam Muhammad Ali and another senior official to jail on judicial remand in a case involving allegations of illegal recruitment, abuse of authority, and corruption. The Federal Investigation Agency (FIA) produced the PARC chairman and Ikhlaq Malik, Director Establishment, PARC, after the expiry of one-day physical remand before the judicial magistrate, Ahmed Shehzad Gondal. At the start of the hearing, the FIA prosecutor requested that the court to extend the physical remand of the accused for one day but the court turned down the agency's request. Former president Islamabad High Court Bar Association (IHCBA) Riasat Ali Azad appeared before the court on behalf of the accused. The defence counsel, arguing before the court, said that they objected to prosecution's plea for further extension in the physical remand and requested the court sent the accused on judicial remand. The PARC chairman illegally appointed 332 individuals against only 164 sanctioned positions, he said, adding that the FIA has registered a case against Dr Ghulam Muhammad Ali along with 18 other PARC officials. This investigation was initiated after the Public Accounts Committee (PAC) referred the matter of irregularities in PARC appointments to the FIA for action, he said. The accused including officers/officials of PARC nominated in the first information report are including Ghulam Muhammad Ali, chairman, PARC, MujahidMujatab, Assistant Director, HR, PARC, Dr Muhammad Asim, PSO/Director (PSD)/PARC, Ikhlaq Malik, Director (Estt), PARC, Dr Shehzad Asad, Deputy DG, PARC, Shahid Maqsood Gill, Member Natural Resources Division, PARC, Ghulam Sadiq Afridi Member (SSD) PARC. Copyright Business Recorder, 2025
Express Tribune
07-07-2025
- Health
- Express Tribune
Experts oppose ban on key fumigant
A senior agricultural scientist at Pakistan Agricultural Research Council (PARC) has said that the Methyl Bromide (MeBr) fumigation is internationally certified and urged the authorities concerned to avoid any move to reduce or ban its use because such action could negatively impact the country's agricultural exports. "Since methyl bromide meets international quarantine standards, it plays a crucial role in the export of agricultural products to other countries," he said. The MeBr is mandated under international phytosanitary regulations to treat grains, fruits, and wooden materials and prevent the spread of invasive pests. According to the agriculturists, all other fumigations such as heat or irradiation are not yet universally accepted under global plant protection standards. Moreover, regional competitors such as India, Bangladesh, and Thailand continue to use methyl bromide to protect market access, citing the lack of viable alternatives. Stakeholders are urging the government to weigh environmental concerns against the need to safeguard Pakistan's $4 billion agricultural export industry. Earlier, some agriculture experts supported this fumigation at a seminar by stating that it is a vital element and reliable method for treating all imported agricultural products to prevent the spread of invasive pests and diseases. The experts added that as a powerful fumigant, MeBr protects commodities like grains, fruits, and wood, eliminating harmful insects, larvae and eggs that may threaten local ecosystems in the country. The experts stated that it targets insects, nematodes, fungi, bacteria, and weed seeds, making it a reliable method for ensuring that agricultural products are free from harmful organisms.
The Age
01-07-2025
- Business
- The Age
State buys another whole complex south of Perth for public housing
The WA and Commonwealth governments have made another major purchase of a whole housing complex for conversion into public housing. Housing and Works Minister John Carey announced the state government, using money from the Commonwealth's Social Housing Accelerator fund, had purchased 38 new apartments in North Coogee, currently under construction by developer PARC for $23.45 million. The complex includes 12 one-bedroom, 24 two-bedroom, and two studio apartments and is due for completion late next year, when a community housing provider will be appointed to run it. The average cost of each dwelling under the purchase price is about $620,000. The purchase comes less than a week after Carey announced the $105 million whole acquisition of the Fraser Suites tower in East Perth, which contains 236 luxury apartments. Loading Carey said the purchase resulted from a public call for more social housing in the state last year, with PARC offering its project for consideration. 'Our Call for Submissions process allows industry to work with the state government to deliver more social and affordable housing, including by employing innovative construction methods,' he said. 'This is a great result from private industry and different levels of government working together to increase housing supply, especially for the most vulnerable in our community.'
Sydney Morning Herald
01-07-2025
- Business
- Sydney Morning Herald
State buys another whole complex south of Perth for public housing
The WA and Commonwealth governments have made another major purchase of a whole housing complex for conversion into public housing. Housing and Works Minister John Carey announced the state government, using money from the Commonwealth's Social Housing Accelerator fund, had purchased 38 new apartments in North Coogee, currently under construction by developer PARC for $23.45 million. The complex includes 12 one-bedroom, 24 two-bedroom, and two studio apartments and is due for completion late next year, when a community housing provider will be appointed to run it. The average cost of each dwelling under the purchase price is about $620,000. The purchase comes less than a week after Carey announced the $105 million whole acquisition of the Fraser Suites tower in East Perth, which contains 236 luxury apartments. Loading Carey said the purchase resulted from a public call for more social housing in the state last year, with PARC offering its project for consideration. 'Our Call for Submissions process allows industry to work with the state government to deliver more social and affordable housing, including by employing innovative construction methods,' he said. 'This is a great result from private industry and different levels of government working together to increase housing supply, especially for the most vulnerable in our community.'
