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Friday, February 7, 2025

Iran Inaugurates First-Ever Drone Carrier Warship In Persian Gulf

 Iran on Thursday unveiled and inaugurated its first ever drone-carrier warship, which features a 180-meter long runway for UAVS, and which is capable of carry several helicopters.

Manned by the elite paramilitary Revolutionary Guard’s navy (IRGC), the vessel is dubbed Shahid Bagheri, and is further capable of launching cruise missiles.

Iran’s Shahid Bagheri drone carrier, via Press TV

Iran's military and media is touting that the ship is able to travel "independently" across the globe's oceans for up to one year, and it can go up to 22,000 nautical miles without needing to refuel in ports.

The vessel began its life as a commercial ship, and was overhauled and completely re-outfitted for as a drone carrier.

"The Revolutionary Guards took action to transform a commercial ship… into a mobile naval platform capable of carrying out drone and helicopter missions in the oceans," said Navy Commander of the Revolutionary Guards Alireza Tangsiri.

"The addition of this ship to our fleet is an important step in increasing the defense and deterrence capability of Iran in distant waters and in maintaining our national security interests," Tangsiri added.

State IRNA has touted that the carrier has a capacity of carrying 60 drones. A state TV broadcast unveiling the Shahid Bagheri showed at least four helicopters and three UAVs on the warship's runway at the time of the footage.

Tehran officials are further hailing it as the "largest naval military project" in the history of the Islamic Republic.

State media footage featuring the drone carrier in action...

Chief of the Guard’s navy Adm. Ali Reza Tangsiri described that the project to transform a commercial vessel into a drone warship took over two years, and that it even features a hospital and gym for the crew.

Some military analysts in the West have criticized that Iran's drone arsenal mainly consists of much bigger drones, and that the released footage seems to feature smaller RC jet planes.

In that sense, it would indeed be a lot of fun to launch RC planes off this thing...

It is joining the IRGC fleet in the Persian Gulf, and is now sailing after last year's major Iranian attack on Israel using ballistic missiles and drones. Small drone warfare is becoming increasingly prominent in hotspots around the world.

For example, Russia heavily relies on Iranian suicide drones during attacks on Ukrainian cities - something which the West has fiercely condemned. 

https://www.zerohedge.com/geopolitical/iran-inaugurates-first-ever-drone-carrier-warship-persian-gulf

Thursday, February 6, 2025

Doximity ups revenue guidance

 

  • Revenue: Revenue of $168.6 million, versus $135.3 million, an increase of 25% year-over-year.
  • Net income and non-GAAP net income: Net income of $75.2 million, versus $48.0 million, representing a margin of 44.6%, versus 35.4%. Non-GAAP net income of $91.4 million, versus $58.5 million, representing a margin of 54.2%, versus 43.2%.
  • Adjusted EBITDA: Adjusted EBITDA of $102.0 million, versus $73.3 million, an increase of 39% year-over-year, representing adjusted EBITDA margins of 60.5%, versus 54.2%.
  • Diluted net income per share and non-GAAP diluted net income per share: Diluted net income per share was $0.37, versus $0.24, while non-GAAP diluted net income per share was $0.45, versus $0.29.
  • Operating cash flow and free cash flow: Operating cash flow of $65.2 million, versus $50.1 million, an increase of 30% year-over-year, and free cash flow of $63.4 million, versus $48.7 million, an increase of 30% year-over-year.

Financial Outlook

Doximity is providing guidance for its fiscal fourth quarter ending March 31, 2025 as follows:

  • Revenue between $132.5 million and $133.5 million.
  • Adjusted EBITDA between $62.5 million and $63.5 million.

Doximity is updating guidance for its fiscal year ending March 31, 2025 as follows:

  • Revenue between $564.6 million and $565.6 million.
  • Adjusted EBITDA between $306.6 million and $307.6 million.

Conference Call Information

Doximity posted prepared remarks on its investor relations website at https://investors.doximity.com. Doximity will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results. To listen to a live audio webcast, please visit the Company’s Investor Relations page at https://investors.doximity.com. The archived webcast will be available on the Company’s Investor Relations page shortly after the call.


https://www.businesswire.com/news/home/20250206576423/en/

EPA administrator, Trump special envoy join Los Angeles mayor to evaluate fire recovery

 Environmental Protection Agency (EPA) Administrator Lee Zeldin, President Trump’s envoy for special missions Richard Grenell and other federal and state officials joined Los Angeles Mayor Karen Bass (D) in their visit to the Palisades to evaluate fire recovery and debris removal efforts. 

The EPA, as part of the debris removal process, has been removing hazardous materials in the area. The trio were joined during the Thursday visit by California Environmental Protection Agency Secretary Yana Garcia, Major Gen. Jason E. Kelly and Federal Emergency Management Agency Region 9 Administrator Bob Fenton, according to Bass’s office. 

“I’m grateful to have the support of our federal partners as we work urgently to rebuild the Palisades,” Bass said in a statement. “The EPA is working to complete Phase 1 of the debris removal process while the City is working to expedite permitting processes and cutting red tape so Angelenos can rebuild as quickly as possible. We will get through this together.”

The deadly and destructive fires ravaged the Los Angeles area last month, burning tens of thousands of acres and displacing thousands of residents. 

Two of the largest fires in the region, the Palisades Fire and the Eaton Fire, were fully contained last Friday, according to local officials. The Palisades Fire burned more than 23,000 acres and killed at least 12 people, according to the Los Angeles County medical examiner’s office. The total death toll, as of now, is 29. 

Zeldin, a former House lawmaker who represented New York’s 1st Congressional District, was sworn in as EPA head just over a week ago. Grenell, who served as acting director of national intelligence during Trump’s first term, visited Venezuela last week and spoke with the country’s President Nicolás Maduro. After the meeting, six Americans were freed

“We are wheels up and headed home with these 6 American citizens. They just spoke to @realDonaldTrump and they couldn’t stop thanking him,” Grenell wrote last week on the social platform X. 

On Wednesday, California Gov. Gavin Newsom (D) met with Trump in Washington. The duo, who have gone back and forth in the last few weeks as the state continues to recover from the California blazes, disagree over conditioning aid to the Golden State.

Separately, former Vice President Kamala Harris on Thursday toured Westwood, one of the areas that was ravaged by the Palisades Fire. She toured Altadena in January after officially leaving office.

https://thehill.com/homenews/state-watch/5131776-lee-zeldin-richard-grenell-karen-bass-fire-recovery/

House GOP reports progress after marathon Trump meeting

 House Republicans reported “very positive developments” after a marathon meeting at the White House on Thursday focused on passing President Trump’s legislative agenda, predicting that the chamber could move on legislative as early as next week.

Speaker Mike Johnson (R-La.), members of his leadership team and an ideological cross-section of lawmakers huddled with Trump and Vice President Vance at the White House for hours to discuss a framework for advancing the president’s legislative wish list, including border funding, immigration policy and an extension of the 2017 tax cuts

The meeting came days after Johnson was forced to scrap plans to mark up an initial budget resolution amid a conservative revolt over the level of spending cuts. The impasse in the House led top Senate Republicans to announce they would move their own effort to enact Trump’s agenda, threatening to steamroll the House.

After the White House meeting Thursday, Johnson sought to push back on the Senate GOP plans, insisting House Republicans were nearing the finish line — even though a number of thorny issues remain.

“We got out the white boards and we worked out the framework, what we believe will be the path forward,” Johnson told reporters at the Capitol after the meeting. “I think we’ll be able to make some announcements probably by tomorrow, and we’re excited about that.”

“Very positive developments today,” he added, noting that the negotiations were “very close” and could be wrapped up by Thursday evening. A key group of House Republicans are planning to huddle again Thursday night to hash out more details.

“We’ll have a framework prepared so we can move early next week,” he said.

Johnson said the House Budget Committee could begin working on a budget resolution as early as next week. If advanced out of committee and passed on the House floor, it would unlock the budget reconciliation process — a maneuver allowing Republicans to circumvent a Senate filibuster.

But with Democrats opposed in both chambers, the GOP will need near-unanimity to move the same legislation through the House on their razor-thin majority, a tall task in the ideologically diverse conference.

“The idea would be to get the Budget Committee working, potentially as early as early next week, maybe Tuesday, for a markup for the budget resolution, and then we’ll unlock this process and get it moving,” Johnson told reporters.

House Budget Committee Chair Jodey Arrington (R-Texas) echoed that timeline, brushing off plans from his Senate counterpart, Sen. Lindsey Graham (R-S.C.), to mark up an alternative budget resolution next week that would include border and energy items but leave out more thorny tax issues — a strategy that contrasts with the House plan.

“The president has been clear in his support from one comprehensive bill that has the security piece and the economic piece, both tax, energy and spending reforms, and his commitment at this point has been unwavering,” he added.

Despite the optimism, some of the largest and most controversial details remain unsettled.

House Majority Leader Steve Scalise (R-La.) said increasing the state and local tax (SALT) deduction cap, a major priority for blue-state Republicans and an ask from Trump, was discussed but not solved.

Additionally, the group discussed the debt limit — which Trump wants Republicans to increase without making any concessions to Democrats — but did not come to an agreement.

Asked if tax provisions that Trump wants would be made permanent, Scalise said: “Some may be, some may not be.”

White House press secretary Karoline Leavitt told reporters during the Trump-GOP meeting that Trump laid out tax priorities for the members, including no tax on tips, which was one of his campaign promises.

Those priorities also included, “no tax on Senior Social Security, no tax on overtime pay, renewing President Trump’s 2017 middle class tax cuts … adjusting the SALT cap, eliminate all the special tax breaks for billionaire sports team owners, close the carried-interest tax deduction loophole, tax cuts for Made-in-America products.”  

“This will be the largest tax cut in history for middle-class working Americans. The president is committed to working with Congress to get this done,” Leavitt added.

Those proposals would be expensive and are part of the crux of what makes passing Trump’s legislative agenda so difficult. Fiscal hawks in the House want to ensure that the bill is deficit neutral.

Hard-line conservatives on the Budget Committee — including Reps. Chip Roy (R-Texas) and Ralph Norman (R-S.C.) — had voiced concerns with the GOP’s initial blueprint. Roy was present at Thursday’s White House meeting.

The Speaker has said he wants to pass the budget resolution on the House floor by the end of this month and send Trump a sprawling bill by Easter or Memorial Day — a timeline that some House Republicans have said is unrealistic.

After Thursday’s meeting, Johnson brushed off the threat of the Senate leapfrogging the House.

“Our message to our friends and colleagues in the Senate is, allow the House to do its work,” Johnson told reporters. “We are moving this as quickly and as expeditiously as possible.”

Members reported that Trump, who was present for a large portion of the hours-long huddle, was very engaged throughout the meeting and that his demeanor and dealmaking style was critical to getting progress on the matter.

Arrington called Trump “the negotiator in chief,” saying the president “set the table for us to push through some things that were sort of what we were hung up on” — but declined to get into details.

“We’re really grateful to the president for leaning in and doing what he does best, and that is put a steady hand at the wheel and get everybody working, and that’s what happened today, so we’re excited about it,” Johnson said.

Trump’s digging in on the details was helpful too, they said. Previously, Trump had led with his priorities but hadn’t got into the nitty-gritty as much.

“The president’s even more involved now in the details, because you know you can talk at the 30,000-foot level for so long. Eventually you got to get into specifics on numbers,” Scalise said. 

https://thehill.com/homenews/house/5131668-house-republicans-trump-legislative-agenda/

House Republicans pass fentanyl bill with Democratic support

Lawmakers rallied around the HALT Fentanyl Act on Thursday, successfully passing legislation in the House to classify the opioid as a Schedule I controlled substance in an effort to solidify harsher punishments for using or selling the drug. 

Republicans asserted their majority to usher in the new bill with a 312-108 vote, earning significant support from Democrats. 

Ninety-eight Democrats voted in favor of the new measure signaling an increase from the House ballots tallied after previous consideration of a similar act in the 118th Congress. 

Under the proposed classification, offenses involving 100 grams or more trigger a 10-year mandatory minimum prison term.

“The Halt Fentanyl Act builds on President Trump’s efforts … to secure our border, southern and northern borders, and keep illicit drugs out,” Speaker Mike Johnson (R-La.) said Wednesday during a press conference. “Republicans are taking decisive, strong, and immediate action to rid American communities of this poison.” 

However, some Democrats have taken issue with the bill, citing concerns with excessive prison sentences that could disproportionately impact minority communities.

Some members of Congress, including Rep. Diana DeGette (D-Colo.), have argued that the HALT Fentanyl Act doesn’t provide additional resources to health officials and law enforcement to detect or intercept illicit drugs at legal ports of entry.  

“The majority … believe the best way out of this crisis is through incarceration, which simply is not a viable or effective strategy,” DeGette said during a Rules Committee meeting Tuesday night.

https://thehill.com/homenews/5131950-house-republicans-pass-fentanyl-bill-with-democratic-support/

Walgreens sells more shares in Cencora; cuts stake to 6%

 U.S. drugstore chain Walgreens Boots Alliance said on Thursday it has sold more shares in drug distributor Cencora for proceeds of about $300 million.

The company said that it now owns a 6% stake in Cencora, trimming it down from 10% it previously held. It sold Cencora shares worth $1.1 billion in August.

Walgreens has sold about $265 million worth of shares and Cencora has agreed to repurchase about $50 million worth of shares, the company said in a statement.

Proceeds from the share sale will be used primarily for debt pay down and general corporate purposes, as Walgreens continues to build out a more capital-efficient health services strategy rooted in its retail pharmacy footprint.

The pharmacy chain reiterated that the sale has no impact to the long-term partnership between the two companies.


https://ca.finance.yahoo.com/news/walgreens-sells-more-shares-cencora-032555721.html

US "De Minimis" Exemption (Was) One Of The Highest In The World

 As a part of the tariffs imposed by the Trump administration Saturday on Canada, Mexico and China, so-called "de minimis" rules on small imports from the countries were suspended.

"De minimis" rules say that incoming goods under a certain value are not subject to import duties (and sometimes tax). As a result, the U.S. temporarily stopped accepting parcel from China and Hong Kong as many popular retailers send scores of "de minimis" shipments from these locations, including the likes of Temu or Shein. On Wednesday, the U.S. resumed the import of the packages. USPS said it was working on a solution of implementation of the new rules that would cause the least disruptions to parcel delivery.

While the rule change was explained in the case of China, but also Canada, with stopping the unregistered import of fentanyl or its ingredients to the U.S., Statista's Katharina Buchholz points out that most of the parcels affected will come from e-commerce platforms, with Chinese imports taking up the bulk of "de minimis" shipments. Checking the parcels to impose Trump's new additional 10 percent tariff on Chinese goods as well as any other tariffs that might apply per product category would cause a lot of extra work. However, the ability of Chinese e-commerce sellers to create large business footprints overseas while skirting many of the dues of a traditional export business has also caused discontent in the U.S. and elsewhere.

The Biden administration in September had announced steps like protecting certain industries and keeping out certain questionable products by exempting them from "de minimis" while at the same time increasing reporting requirements, citing concerns about high parcel volumes concealing illicit substances as well as trade fairness in the light of China's burgeoning e-commerce-by-international-shipment sector. The EU is also mulling to do away with its "de minimis" rule in order to fairly charge Chinese direct sellers. Recent reporting also points out how many of the products shipped from the likes of Shein et al. are not up to quality standards, which caused complaints from consumer protection bodies.

Data republished by the Department of Commerce shows that more than 100 countries around the world employ "de minimis" in order to speed up international shipping. However, the maximum value such parcels can have varies widely.

Infographic: U.S.


The U.S.' $800 threshold is one of the highest in the world while EU countries impose charges on imports of much lower value (above €150 - approximately $156).

China's "de minimis" rules are also more strict, with any tax or duty under 50 Yuan Renminbi (approximately $7) considered void - this would for most products be in line with a value of $99 or less.

The country also already has a more refined approach to "de minimis" with a pre-registration and approval system for e-commerce traders in place that allows for higher exemptions at the discretion of the government.

Other countries have also posed additional hurdles to "de minimis", for example exempting B2B shipments or specific goods. Others allow neighbors or certain major trade partner to take advantage of a bigger "de minimis" allowance.

https://www.zerohedge.com/geopolitical/us-de-minimis-exemption-was-one-highest-world