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Author: fortraders

for the upcoming week Forecast of Conditions for the Next Seven Days

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Czechia is set to enjoy a sunny week ahead, with temperatures reaching up to 20 degrees Celsius on Wednesday. The rest of the week is expected to remain sunny, with no rain forecasted.

This is great news for those looking to get out and enjoy the sunshine. Whether it’s a picnic in the park, a walk in the countryside, or a day at the beach, the weather is perfect for outdoor activities.

The warm weather is also ideal for those looking to explore the country’s many attractions. From the historic city of Prague to the stunning countryside of Moravia, there’s plenty to see and do.

So, if you’re in Czechia this week, make sure to take advantage of the sunny weather and enjoy all that the country has to offer.

Unveiling of the Cornerstone of Adolf Loos’ Final Home in Prague

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The Last House by Adolf Loos is a unique project that celebrates the 150th anniversary of the birth of the influential Czech architect. Commissioned by František Müller for his daughter Eva, the house is a low-cost accommodation suitable for both working-class families and management. The all-wooden, cube-shaped structure is painted in a bright green colour and is based on the landmark principle of Loos’s architecture known as Raumplan.

The project is being developed in cooperation with the Faculty of Architecture of the Czech Technical University in Prague and is based on Loos’ descriptions, floor plans and old articles. The house will be built on a plot of land right next to the National Technical Museum on Prague’s Letná plain and the foundation stone will be symbolically laid on Tuesday evening. If all goes according to plan, the house should be finished next year.

United States and Czechia Enter Defense Pact

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Czech Defense Minister Jana Černochová recently signed a Defense Cooperation Agreement with the United States in Washington. The agreement sets a legal framework for possible deployment of U.S. troops on Czech territory and their cooperation with the Czech armed forces.

The agreement covers issues such as the jurisdiction over foreign troops, environmental regulations, rules for operating vehicles by US soldiers and their families or the status of US armed forces contractors. It also stipulates that if US soldiers commit a crime in the host country in connection with their service, the sending country retains jurisdiction over them.

The agreement will still need to be approved by both houses of the Czech Parliament. The only party that is vehemently opposed to it is the Freedom and Direct Democracy Party which is also against the country’s membership in the EU and NATO.

The agreement is part of a larger effort to boost trans-Atlantic ties and strengthen the eastern flank of the NATO alliance. It is the 24th such agreement the US has concluded with NATO members.

Mexico Government Considering Acquisition of Citigroup’s Banamex

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MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador’s administration is studying the possibility of buying a majority of shares in Citigroup’s (NYSE:C) local retail unit known as Banamex. Lopez Obrador said it would be “good business” and that the government is considering creating a public-private association with Citigroup to operate the bank.

Speculation that Grupo Mexico’s owner German Larrea might bow out of the bidding process spread on Monday after a Mexican columnist tweeted he was dropping the bid, citing concerns over the government’s power to take it over. Grupo Mexico told Reuters on Tuesday that a quote in the tweet was false and that it could not comment on the process with Banamex.

The president said he is willing to reach an agreement with Grupo Mexico over a railway in Southern Mexico operated by a unit of the company, which the government is considering taking over. Grupo Mexico has proposed a government payment of more than $534 million for the railway, though the firm would not confirm the figure.

Earlier in May, the president said the government has no problem with Grupo Mexico buying Citigroup’s unit. The government is now studying the possibility of buying a majority of shares in Banamex, which could be a good business move for the country.

BranchOut Food Launches 1.1M Share Initial Public Offering at $6-$8 per Share

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BranchOut Food (BOF) has announced a downsized 1.1 million share initial public offering (IPO) at a price range of $6-$8 per share. This is a reduction from the previously indicated 1.25 million share offering.

The company is a leading provider of food delivery services, with a focus on providing customers with a wide variety of food options. BOF has a network of over 10,000 restaurants and delivery partners, and is available in over 200 cities across the United States.

The company has seen strong growth in recent years, with revenue increasing by over 50% in the last year. BOF has also seen an increase in customer satisfaction, with customer ratings increasing by over 20% in the last year.

The IPO is expected to provide BOF with the capital needed to continue its growth and expansion. The company plans to use the proceeds to invest in new technology, expand its delivery network, and increase its marketing efforts.

BOF is an exciting company with a lot of potential. The downsized IPO is a sign of the company’s confidence in its future prospects, and investors should take note.

Palo Alto Networks Stock Price Rises 4% Following Positive Q3 Earnings and Optimistic Forecast

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Palo Alto Networks (NASDAQ:PANW) shares surged 4% in after-hours trading following the company’s Q3 earnings report, which beat analyst expectations. EPS of $1.10 was higher than the consensus estimate of $0.93, while revenue increased 24% year-over-year to $1.7 billion. The company also provided strong guidance for Q4/23 and the full year, with EPS and revenue expected to come in above consensus estimates. Total billings are anticipated to grow 17%-24% year-over-year. Investors responded positively to the news, sending shares higher in after-hours trading.

Biden Administration Requests Dismissal of Airplane Mask Lawsuit in US Court

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The CDC issued the mask mandate in January 2021, requiring travelers to wear face coverings on planes, buses, trains, and other forms of public transportation. The mandate was challenged in court by a Florida-based airline passenger who argued the CDC had exceeded its authority. The Justice Department had argued the CDC had the authority to issue the mandate under the Public Health Service Act.

The Justice Department’s decision to drop the appeal comes as the CDC has eased its mask mandate for fully vaccinated people in most settings, including on airplanes. The CDC has also said that fully vaccinated people do not need to wear masks outdoors in crowds or in most indoor settings.

Boris Johnson Investigated by Police for Possible Covid Violation

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Boris Johnson, the former Prime Minister of Britain, has been referred to the police for potential new Covid rule breaches. Last year, while still in office, he was fined for breaking Covid rules in 2020, one of a series of scandals that eventually led to his resignation. The latest allegations are linked to new claims about his behavior in Downing Street and visits to his country residence, Chequers.

The Metropolitan Police and the Thames Valley Police are assessing the information they received from the Cabinet Office last week. A spokesman for Mr. Johnson has denied any wrongdoing, but the allegations have already drawn swift condemnation from his political opponents and from the family members of those who died of the coronavirus.

Covid-19 Bereaved Families for Justice, a group that represents those who died from the coronavirus, said the new revelations “make a grim mockery of Boris Johnson’s claims that he didn’t break his own lockdown rules.” It is now up to the police to investigate the matter and determine if Mr. Johnson has indeed broken the rules.

Britain Seeks Visas for Relatives of Students Amid High Migration to U.K.

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The British government announced new measures on Tuesday to limit the number of international students bringing family members into the country. Home Secretary Suella Braverman said the number of dependent visas had increased by 750 percent since 2019, rising to a total of 136,000 people. The new measures will only allow postgraduate research students to bring dependents, and will come into force in January.

The announcement comes as the government faces growing pressure to curb rapidly rising immigration numbers. Prime Minister Rishi Sunak has put the focus on tackling illegal immigration and stopping the flow of asylum seekers crossing the English Channel from France on small boats.

Critics doubt that the new restrictions will reduce net migration figures significantly, while others point to a risk to the huge revenue international students generate. Universities UK International, which represents the sector, said that the announcement “provides some clarity for students and universities after many months of rumor and speculation; but leaves some questions unanswered.”

Intuit Reports Earnings Surpassing Expectations, Revenue Below Forecast

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Intuit (NASDAQ: INTU) reported third quarter earnings that beat analyst estimates by $0.43. Revenue for the quarter came in at $6.02B, slightly below the consensus estimate of $6.09B. The company provided guidance for Q4 2023 EPS of $1.43-$1.48 versus the analyst consensus of $1.51, and FY 2023 EPS of $14.20-$14.25 versus the analyst consensus of $13.83. Intuit’s stock price closed at $449.80, up 7.14% in the last 3 months and 25.30% in the last 12 months. According to InvestingPro, Intuit’s Financial Health score is “good performance”. Investors can stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar.