Thursday, 23 Sep 2021

Jill Biden’s ‘United’ Message To U.S. Olympians: We Are More Than Our Political Parties

The drought-stricken Western U.S. braces for 'water wars'

Tourism, landscaping, homebuilding and farming are just some of the businesses that feel the economic crunch of a devastating drought in the U.S. West. Agriculture is particularly affected by water scarcity during these periods.

"Agriculture consumes more than 70% of the available water supply," said Morgan Levy, assistant professor at the Scripps Institution of Oceanography and School of Global Policy and Strategy at the University of California, San Diego. "During drought years, agriculture will drink up an even larger fraction of water supplies."

In 2020, wildfires and drought cost the U.S. more than $21 billion, according to the National Centers for Environmental Information. 

"California had another extreme drought from 2011 to 2016 rivaling this one in its intensity," freelance science journalist Maddie Stone said in an interview with CNBC. "And we're also in the midst of what scientists consider to be a megadrought out West."

Watch the video above to find out more about the devastating drought hitting the West Coast, the implications for the U.S. economy, and what's been done to fix water shortages.

Socket Mobile Surges 80% On Quarterly Results

Shares of Socket Mobile Inc. (SCKT) are surging over 80% on Friday morning after the company reported its second-quarter results.

SCKT is currently trading at $10.56, up $4.76 or 82.06%, on the Nasdaq, on a volume of 27.4 million shares, above average volume of 174 thousand shares. The stock has traded between $1.11 and $35.00 in the 52 week period. The stock has gained over 550% in that period.

Revenues for the second quarter increased 119% to $6.0 million from $2.7 million last year, driven by the deployments of business applications in the retail industry. Second-quarter net income was $2.6 million or $0.27 per share, compared to net loss of $768 thousand or $0.13 per share last year.

Yellen urges Congress to raise debt limit, warns Treasury will deploy 'extraordinary measures' soon

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Treasury Secretary Janet Yellen on Friday urged Congress to raise or suspend the debt ceiling by the end of the month, warning that her department will need to deploy "extraordinary measures" beginning Aug. 2 to prevent the U.S. government from defaulting. 

"If Congress has not acted to suspend or increase the d ebt limit by Monday, August 2, 2021, Treasury will need to start taking certain additional extraordinary measures in order to prevent the United States from defaulting on its obligations," Yellen wrote in a letter to the top four congressional leaders.

This is a developing story. Please check back for updates.

In Pictures: Tokyo Olympics 2020

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Xenetic Biosciences Rockets 144%

Xenetic Biosciences, Inc. (XBIO) shares are zooming on Friday morning trade, continuing its uptrend from July 20. The investor sentiment has been bullish on the stock despite the lack of any company-specific news to influence the stock.

Currently, shares are at $4.55, up 144.62 percent from the previous close of $1.86 on a volume of 92,472,765.

Rockies Insider: Five Colorado storylines to monitor the rest of the summer

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TPI Composites Slips 13% Hurt By Outlook Cut

Shares of TPI Composites Inc. (TPIC) are slipping over 13% after the company lowered its outlook for the full year 2021.

TPIC is currently trading at $36.35, down $5.59 or 13.33%, on the Nasdaq, on a volume of 1.67 million shares, above average volume of 636 thousand. The stock has traded between $24.02 and $81.36 in the 52-week period. The stock has gained nearly 50% in that period.

The manufacturer of composite wind blades reported preliminary second-quarter net sales of $458.8 million and net loss of $42.6 million.

Looking forward, the company now expects full-year 2021 net sales of $1.75 billion to $1.80 billion, down from prior estimate $1.75 billion to $1.85 billion.

Jill Biden’s ‘United’ Message To U.S. Olympians: We Are More Than Our Political Parties

First lady Jill Biden sent a proud message of support for U.S. athletes competing in the Tokyo Olympics ahead of Friday’s opening ceremony.

In an open letter published by NBC News, Biden wrote that “your entire nation is cheering you on — and we are so grateful for what you’ve given us.”

“In these moments, we are more than our cities or states or backgrounds. We are more than our jobs or our political parties. We are united. We are all, first and foremost, Team USA,” she added.

Biden said the athletes “bring us together in a way that little else can.”

“You remind us that with dedication, hard work, courage and teamwork, incredible things are possible,” she continued. “What a gift you give. What an honor it is to watch you soar.”

“So, thank you for your hard work. Thank you for the tears and sweat that you’ve given to be here today. Thank you for representing our nation to the world,” said Biden. “Go Team USA!”

Biden is leading the U.S. delegation in Tokyo for her first solo international trip as first lady. She has met with Japanese Emperor Naruhito at the Imperial Palace in Tokyo, had dinner with Japanese Prime Minister Yoshihide Suga and met virtually with American Olympians.

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