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Notice of Annual General Meeting of Insplorion AB ( publ) | Shareholders of Insplorion AB ( publ) 556798-8760, are hereby invited to participate in the Annual General Meeting on Tuesday, April 19. Due to the ongoing Covid-19 situation, the AGM will be conducted in accordance with so called mail-in procedures, meaning that shareholders and representatives will not be able attend the AGM in person. Instead, shareholders can only participate in the AGM by voting and submitting questions in advance pursuant to the instructions described below.
In order to participate in the AGM via mail voting, a shareholder must be registered in the register of shareholders maintained by Euroclear Sweden AB as of Thursday, April 7, 2022, and notify attendance at the AGM no later than Friday, April 15, 2022. The exercise of voting rights in accordance with the mail-in procedure will be considered as a notification from the shareholder to attend the meeting.
Shareholders may exercise their voting rights at the meeting only by voting in advance, mail voting in accordance with section 22 of the temporary Act ( 2022: 121) to facilitate the conduct of Annual General Meetings. A special form must be used for mail voting. The form is available on the company's website www.insplorion.com.
The advance voting form is valid as a notification to the meeting. The completed form must be received by the company no later than Friday, March 15, 2022. The completed form must be sent to bolagsstamma @ insplorion.com or the company address Arvid Wallgrens Backe 20, 413 46 Gothenburg. If shareholders vote in advance through a proxy, a written and dated power of attorney signed by the shareholder must be attached to the form. Proxy forms are available on the company's website www.insplorion.com. If the shareholder is a legal entity, a registration certificate or other authorization document must be attached to the form. The shareholder may not provide the advance vote with special instructions or conditions. If this happens, the vote is invalid. Further instructions and conditions can be found in the advance voting form.
Shareholders whose shares are in a custody account, through a bank, broker or other nominee, must request the re-registration of their shares in their own names in the share register in order to be entitled to attend the general meeting ( registration for voting rights). Such registration may be temporary and must be duly effected with Euroclear no later than April 7, 2022, for the shareholder to be entitled to attend the general meeting. The shareholders must therefore advise their nominees well in advance of that date and request that the shares be registered for voting rights.
Agenda of the Annual General Meeting in accordance with the Articles of Association
The annual report will be published on the Company's website, www.insplorion.com, no later than three weeks prior to the Annual General Meeting, and will be sent to shareholders upon request
Proposed resolutions for items 1, 4, 7 and 8-10 of the agenda. Proposed resolutions for items 1, 8-10 are provided by the Nomination Committee, consisting of Mikael Hägg, Elin Langhammer and Håkan Krook.
1. It is proposed that Jonas Ehinger is elected Chair of the Annual General Meeting. 4. It is proposed that Elin Langhammer and Olof Andersson are appointed to countersign the minutes
7.b) The Board of Directors proposes that no dividend be paid and that available profits be carried forward.
8. It is proposed that a fee of SEK 200,000 be paid to the Chairman of the Board and a fee of SEK 100,000 to each of the other board members. It is proposed that remuneration to the auditor shall be paid on open account.
9. The Nomination Committee proposes that Johan Ehinger ( Chairman of the Board), Jan Burenius, Ulla-Britt Fräjdin-Hellqvist, Anders Sandell and Magnus Jonsson be re-elected. The Nomination Committee proposes that Daniel Haglund, KPMG, is appointed auditor.
10. The Nomination Committee proposes that the Company's Nomination Committee for the Annual General Meeting 2023 shall consist of three members. The Chairman of the Board or a board member appointed by the Chairman of the Board shall, as soon as possible after the end of the third quarter, contact the 5 largest shareholders registered in the share register and in consultation with them appoint the three members who will form the Nomination Committee. The composition of the Nomination Committee shall be announced on the Company's website as soon as it has been established. The Nomination Committee's task is to prepare such proposals that the Swedish Corporate Governance Code imposes as the obligations of a nomination committee. The Nomination Committee's mandate is valid until a new Nomination Committee has been appointed.
Shares and votes As of March 22, 2022, there are 13,090,234 shares in the Company, representing 13,090,234 votes in total. All shares belong to the same class. As of March 22, 2021, the Company has no shareholding of its own.
Information at the Annual General Meeting The Board of Directors and the CEO shall, upon request by any shareholder and where the Board of Directors determines that it can be done without material harm to the Company, provide information of circumstances which may affect the assessment of a matter on the agenda and on circumstances which may affect the assessment of the Company's financial position. Those wishing to submit questions in advance may do so by email at bolagsttamma @ insplorion.com.
Processing of personal data For information about the processing of your personal data in connection with the Annual General Meeting, see https: //www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf
Göteborg Mars 2022
The board of directors
Insplorion AB ( publ)
Insplorion AB ( publ) Arvid Wallgrens backe 20 SE-413 46 Göteborg SWEDEN
+46 31 380 26 95 info @ insplorion.com www.insplorion.com
Insplorion AB, with its disruptive sensor platform NanoPlasmonic Sensing ( NPS), operates within four field;. air quality sensors, hydrogen sensors, battery sensors and research instruments. The sensors are small, durable and cost efficient at volume production. Our sensor technology enables air quality sensors at home, in cars and in public environment, Our hydrogen sensors show a sub-second response time, making them the fastest in the world and will promote the growth of hydrogen infrastructure. The battery sensor optimizes battery control and usage. Our instruments give scientists around the world nanometer sensitive real time data of surface processes in fields like catalysis, material- and life science.
Naventus Corporate Finance AB ( +46 ( 0) 8 660 90 91, info @ naventus.com) is Insplorion's Certified Adviser on Nasdaq First North.
https: //news.cision.com/insplorion/r/notice-of-annual-general-meeting-of-insplorion-ab -- publ-, c3529108
https: //mb.cision.com/Main/12412/3529108/1551438.pdf
( c) 2022 Cision. All rights reserved., source Press Releases - English | business |
Nev. Gaming Biz ' Virus Coverage Suit To Wait For 9th Circ. | A Nevada federal judge paused a gaming company's bid for coverage of its pandemic losses from a Liberty Mutual unit, saying a Ninth Circuit suit involving the Las Vegas hotel and casino Circus Circus should soon resolve similar issues.U.S. District Judge James C. Mahan stayed Gaming Entertainment Touch Tech's coverage suit against Ohio Security Insurance on Monday after determining that questions over whether the coronavirus can cause physical loss or damage would likely be addressed by the Ninth Circuit in weighing Circus Circus ' suit against an AIG insurer. `` The court does not find that this stay would impose further hardship... | general |
'Perfect storm ': Europe Covid rise due to fewer curbs, subvariant | Hi, what are you looking for?
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Covid-19 is again surging in Western Europe due to a “ perfect storm ” of governments lifting restrictions, waning immunity and the more contagious BA.2 Omicron subvariant, experts said Monday.
After more than a month of falling cases across much of the continent, countries such as Britain, France, Germany and Italy have all seen a dramatic resurgence of infections in recent days.
In France, cases have risen by more than a third in the week since the government ended most Covid restrictions last Monday.
In Germany, despite a new daily record of nearly 300,000 infections on Friday, the government let national legislation enabling coronavirus restrictions expire over the weekend. Most German states, which have considerable leeway on applying measures, have however maintained the restrictions.
In Italy, the government announced on Thursday it would phase out almost all restrictions by May 1 despite rising cases.
And in Britain, where one in 20 people are currently infected, the government removed the last of its international travel restrictions on Friday.
Faced with its own surging cases, Austria announced on the weekend it would reimpose rules requiring FFP2 face masks — just weeks after lifting the measure.
– ‘ Stealth Omicron’ –
While some have blamed governments for relaxing restrictions too quickly, epidemiologists also pointed the finger at the BA.2 sub-lineage of the Omicron variant which has become dominant in many countries.
Sometimes called “ stealth Omicron ” because it is more difficult to detect, BA.2 is estimated to be about 30 percent more contagious than its predecessor BA.1.
Lawrence Young, a virologist at Britain’ s University of Warwick, said the rising cases in Europe were due to a combination — “ a perfect storm ” — of three factors: the lifting of restrictions, waning immunity after vaccination and BA.2.
“ Removing restrictions has fuelled the spread of BA.2 and could also lead to the generation of other variants, ” he told AFP.
Antoine Flahault, director of the Institute of Global Health at the University of Geneva said there were “ a couple of hypotheses on the table, which are not mutually exclusive ”.
He told AFP that BA.2 was “ clearly a relevant suspect in explaining the current rebound ”, also mentioning waning immunity and the easing of measures.
He also pointed to air pollution in Western Europe during the infection resurgence, referring to research that showed “ strong correlation ” between Covid outbreaks and high levels of fine particulate matter in the air.
Simon Clarke, cellular microbiology professor at the University of Reading, said that despite soaring cases in Britain, “ concern about the virus among the public seems to be at an all-time low since the start of the pandemic.
“ The BA.2 version of Omicron seems to be behind this uptick in infections, which again shows how quickly the situation can change as the virus evolves into new forms, ” he told the Science Media Centre.
– New variant threat –
In a bid to bolster waning immunity, some nations such as France have started rolling out fourth vaccine doses.
In England, a fourth booster shot will be made available to care home residents, people aged over 75 and the immunosuppressed this week, the National Health Service said Sunday.
However the World Health Organization has warned that new variants were more likely to continue emerging if wealthy nations continue to boost their own citizens ahead of sharing vaccines with countries where many have not received their first dose.
Jean-Francois Delfraissy, president of the French government’ s scientific advisory board, has already warned of potential variants.
“ We are at the mercy of a new variant which, if we ask the scientist community, could be expected in the autumn… it could happen before then, ” he said last week.
“ Will it be a more transmissible variant? Will it be more severe? Will it escape the vaccine? Nobody knows. ”
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The horrors of the war in Ukraine can be seen in 13-year-old Volodymyr's empty expression as he lies in the children's hospital in Kyiv.
Australia has returned 29 religious and cultural artefacts to India, among them several stolen or illegally exported from the country.
A China Eastern passenger jet carrying 132 people crashed onto a mountainside in southern China on Monday causing a large fire.
The EU’ s foreign policy chief Josep Borrell calls Russia’ s attack on port city of Mariupol “ a massive war crime. ”
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
South Africa Eases Covid Restrictions as Infections Fall | The information you requested is not available at this time, please check back again soon.
Residents wait in line for a Covid-19 vaccine during a rural vaccination drive by Broadreach NGO in the Siyabuswa district of Mpumalanga, South Africa, on March 9., Bloomberg
( Bloomberg) -- South African President Cyril Ramaphosa relaxed almost all remaining coronavirus restrictions as the number of new infections and related hospitalizations and deaths in the country continue to drop.
Scientists estimate that 60% to 80% of the population have some form of immunity to Covid-19, either through vaccination or prior infection, making it possible to further open up the economy, Ramaphosa said Tuesday in a brief televised speech.
“ We feel the fear and despair of the last two years lifting from our shoulders, ” he said. “ We are now ready to enter a new phase in our management of the pandemic. ”
South Africa has had 3.7 million confirmed coronavirus cases so far. Almost 100,000 of those who were diagnosed with the disease have died, although excess deaths data show the true toll is probably about three times higher. About 48% of adults have had at least one vaccination.
Ramaphosa said travelers entering South Africa will now be able to show either proof of vaccination or a negative Covid-19 test, easing passage for visitors and providing a boost to the tourism industry. All unvaccinated travelers entering the country will be offered a shot, he said.
A state of disaster that was imposed in March 2020 after the onset of Covid-19 will be lifted as soon as new health rules are in place to manage the pandemic, Ramaphosa said. | general |
Countries may want to diversify away from the U.S. dollar: Think tank | The U.S. has been `` extremely trigger-happy '' with stinging economic measures, and central banks may decide to diversify their portfolio of foreign reserves instead of relying heavily on the U.S. dollar, according to the co-director of the Institute for the Analysis of Global Security.
`` Central banks are beginning to ask questions, '' said Gal Luft of the Washington-based think tank, adding that they are wondering if reliance on the dollar and `` putting all their eggs in one basket '' is a smart idea.
`` The United States has extended itself, has been extremely trigger-happy when it comes to the use of sanctions and other economic punishments, '' he said.
The White House did not respond to a CNBC request for comment.
Luft said the U.S. took `` unacceptable and unheard of steps '' in recent weeks, such as effectively freezing Russia's central bank reserves and disconnecting Russia from the interbank messaging system, SWIFT.
He said one in 10 countries in the world is under some form of U.S. sanctions.
`` That has a cumulative effect and as a result, we see the dollar playing less and less of a role and portfolios of central banks, '' Luft said.
His comments come after a Wall Street Journal report that Saudi Arabia is in accelerated talks with China to accept yuan instead of dollars for oil that Beijing buys.
Oil is typically priced in U.S. dollars, and that has allowed Washington to run `` huge deficits, '' he told CNBC's `` Street Signs Asia '' on Monday.
Sanctions, however, make governments want to move away from the U.S. dollar, Luft said.
He said the American political class has a `` lack of awareness '' about the consequences of their actions.
`` It's like a bunch of kids running around with guns shooting all over the place without realizing what they're actually doing, without looking at the cumulative impact of all of this, '' he said.
`` On the one hand, you are sanctioning right and left. On the other hand, you want countries to buy your Treasurys and finance your debt. That's not a sustainable scenario, '' he said.
Separately, Luft, who is senior advisor to the U.S. Energy Security Council, discussed the uncertainty in global energy markets.
`` The overall picture is not good because what we're getting today is a heart attack on top of a heart attack, '' he said, pointing to the Covid pandemic and the Russia-Ukraine war, which could become `` very nasty. ''
`` The combination of the two is really [ a ] double whammy, '' he said.
Oil prices have fluctuated wildly over the past two years, plunging when the pandemic began and soaring when Russia invaded Ukraine in February.
Luft said there is a realignment in the world's energy, financial and geopolitical systems, and the emergence of a `` new world order. ''
`` The transition is never a happy one, '' he said. `` It's always painful, but that's the only way that the world can transform from one world order to another. '' | business |
Top 6 IoT Trends in 2022 | Join Our Telegram Channel for More Insights. Join
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The Internet of Things ( IoT) has grown exponentially in a very short period of time. Smart gadgets, although being relatively new, are omnipresent in business and consumer spheres, and they show no indications of slowing down.
While the expansion of the Internet of Things may remain constant in 2022, it will fluctuate and adapt. Here are six trends that will impact the Internet of Things this year.
With the increased demand for hands-free health solutions, the COVID-19 pandemic has accelerated the adoption of the Internet of Medical Things ( IoMT). In 2021, 64% of US households reported utilizing these services, with 43% intending to continue using them after the epidemic. These indicators lead to ongoing IoMT growth in 2022.
Wearable health monitoring, for example, will become increasingly common in order to extend at-home treatment. IoT connection will be used by hospitals to track resources and perform remote appointments. Even after the epidemic has passed, these patterns will continue to increase in order to make healthcare more accessible.
As the Internet of Things develops in popularity, its security flaws become increasingly worrying. Breaching linked automobiles might result in around 3,000 deaths during peak hour traffic. As more IoT devices are produced and cybercrime increases, security will become a priority.
More built-in security safeguards, such as secret computing and verification mechanisms for over-the-air updates, will be included by IoT makers. To supplement that update, security providers will provide additional IoT-specific services. Vulnerabilities will not vanish completely, but they will be reduced.
One of the most potential applications for these technologies is industrial IoT ( IIoT). Simultaneously, present networks’ low capacity and excessive latency impede their deployment. The arrival of 5G in 2022 will change all of that.
There are currently 48 billion internet-connected gadgets, straining present networks. Because of 5G’ s quicker speeds, reduced latency, and larger capacity, industrial facilities will be able to spread the IIoT to additional locations. Entire factories might be transformed into unified, interconnected entities.
Businesses were affected by supply chain interruptions between 2020 and 2021. As a result, more businesses will integrate IoT connections into their logistical operations. Remote tracking will give the transparency required by businesses to detect and respond to disturbances before they occur.
Furthermore, the data collected by these devices may be fed into sophisticated algorithms, which can then deliver actionable insights. These improvements will make supply chains significantly more robust, yet they will be impossible to achieve without greater IoT use. As a consequence, supply chain IoT might rise.
As IoT networks expand, they will pave the door for yet another unavoidable innovation: edge computing. Edge computing has the potential to make self-driving cars more practical while also addressing many of today’ s bandwidth, security, and cloud dependability issues. Despite these advantages, it is still a niche technology today, but that will change as the Internet of Things expands.
Edge computing will become more dependable and scalable as IoT security and processing power improve. As smart city infrastructure becomes more widespread, this technology may begin to impact consumer applications.
Wearables are among the most mainstream consumer IoT areas, and this trend is expected to continue beyond 2022. Wearables are currently dominated by smartwatches and wristbands, but they will become significantly diversified in the future. Smart rings, smart eyewear, linked fabric, and IoT ID tags are already on the market and will take off.
Between 2016 and 2019, the number of connected wearables more than quadrupled, a trend that will be accelerated by more diversified offers. Wearables will aid enhance accessibility for persons with impairments, increase augmented reality ( AR) apps, and assist companies in reducing workplace injuries by 2022, among other things.
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Antibodies in children last more than 6 months after COVID; SK Bioscience vaccine shows promise vs Omicron | By Nancy Lapid
( Reuters) -The following is a summary of some recent studies on COVID-19. They include research that warrants further study to corroborate the findings and that has yet to be certified by peer review.
Antibodies in kids after COVID last 6 months or more
Most children and adolescents with COVID-19 antibodies after SARS-CoV-2 infection usually still have the antibodies in their blood more than half a year later, new data shows.
Starting in October 2020, researchers in Texas recruited 218 subjects between the ages of 5 and 19. Each provided three blood samples, at three-month intervals. More than 90% were unvaccinated when they enrolled in the study. The first blood test showed infection-related antibodies indicating recovery from COVID-19 in one-third of the children, the researchers reported online Friday in Pediatrics https: //publications.aap.org/pediatrics/article/doi/10.1542/peds.2021-055505/185412/Durability-of-SARS-CoV-2-Antibodies-From-Natural. Six months later, 96% of those with the antibodies still had them. The study was designed to detect the presence of antibodies, which are only one component of the immune system's defenses, not the amount of antibodies. The level of protection even in those with antibodies is unclear. Researchers found no differences based on whether a child was asymptomatic, severity of symptoms, when they had the virus or due to weight or gender.
`` It was the same for everyone, '' Sarah Messiah of UTHealth School of Public Health Dallas, said in a statement. `` Some parents... think just because their child has had COVID-19, they are now protected and don't need to get the vaccine, '' Messiah said. `` We have a great tool available to give children additional protection by getting their vaccine. ''
Experimental SK vaccine shows promise against Omicron
A booster shot of an experimental vaccine being developed by SK Bioscience Co has shown `` durable protection '' against the Omicron variant in Rhesus macaques, according to new data.
The monkeys had received two initial doses of the vaccine plus a booster 6 or 12 months later. Blood samples from the boosted primates showed `` remarkably high '' levels of antibodies that could neutralize both the original strain of the virus and the Omicron variant that caused infections to soar, the researchers reported on Sunday on bioRxiv https: //www.biorxiv.org/content/10.1101/2022.03.18.484950v1 ahead of peer review. The animals ' second-line immune defenses were also `` substantial and persistent, '' they said. The vaccine, called GBP510, triggers responses from the immune system by delivering copies of a key part of the spike protein from the surface of the coronavirus. The protein `` subunits '' are studded onto nanoparticles to resemble the virus itself. These components are supplemented with an adjuvant from GSK that boosts the immune system's responses, explained Bali Pulendran of Stanford University in California.
`` Vaccination with two doses... followed a year later by a booster shot... plus adjuvant, led to highly durable antibody responses and protection against Omicron infection, even six months later, '' Pulendran said. Large late-stage trials of GBP510 in humans are underway.
AstraZeneca drug less protective vs Omicron in transplant patients
The AstraZeneca antibody shots given to prevent COVID-19 in high-risk children and adults with weakened immune systems do not adequately protect organ transplant recipients from the Omicron variant, researchers found.
The drug, Evusheld, did protect against the Delta variant in kidney transplant recipients, and lab test results released on Monday show Evusheld can neutralize Omicron in mice, including the highly contagious BA.2 version. But among 416 kidney recipients treated with Evusheld after Omicron became the predominant variant, 9.4% developed symptomatic breakthrough infections, with one-in-three of those patients requiring hospitalization, researchers reported on Saturday on medRxiv https: //www.medrxiv.org/content/10.1101/2022.03.19.22272575v1 ahead of peer review. Two patients died of COVID-19. In lab experiments, the researchers exposed the BA.1 version of Omicron that caused the massive winter surge to blood samples from 15 Evusheld-treated patients. None of the samples could neutralize the virus.
The U.S. Food and Drug Administration recently advised https: //www.fda.gov/drugs/drug-safety-and-availability/fda-authorizes-revisions-evusheld-dosing that higher doses of Evusheld are likely needed to prevent Omicron infections, and that patients who received the originally approved shots should receive booster doses. The researchers said kidney transplant recipients `` should be advised to maintain sanitary protection measures and undergo vaccine boosters. ''
( Reporting by Nancy Lapid; Editing by Bill Berkrot) | business |
China Eastern faces more losses, regulatory scrutiny after plane crash | - China Eastern Airlines faces deepening losses and closer regulatory scrutiny following the crash of a Boeing 737-800 jet on Monday with 132 people on board.
Rescuers on Tuesday scoured heavily forested slopes for survivors and data recorders from flight MU5735, which crashed a day earlier in the mountains of the southern region of Guangxi.
The plane crash, China's first in 12 years, comes as its airline sector is struggling to find its footing amid the coronavirus pandemic, with air passenger traffic far below 2019 levels due to repeated outbreaks and a steep fall in international travel due to China's strict quarantine rules.
China Eastern has been among the biggest casualties: The state carrier forecast in January a 2021 loss of 11-13.5 billion yuan ( $ 1.7- $ 2.1 billion), after a 11.8 billion yuan loss in 2020.
Its losses are set to deepen after the group, including two subsidiaries, grounded its fleet of 737-800s following Monday's crash. The group has 225 of the aircraft, data from British aviation consultancy IBA shows.
The airline cancelled about 89% of its flights on Tuesday, according to Chinese aviation data provider Flight Master.
`` My guess is that in the short term this is going to cause some issues for China Eastern as their maintenance records are reviewed, and there will likely be a short term pullback from Chinese consumers, '' said Ben Cavender, managing director at China Market Research Group in Shanghai.
Cheng Wang, associate equity analyst at Morningstar, said one of the big risks for China Eastern was if the investigation implies maintenance or other process shortfalls.
`` We think most of the impact will be in the near term. The indemnity alone will not have a material impact on our fair value estimates. The potential regulatory actions including fines, additional security requirements, or even grounding of aircraft could make a bigger difference. ''
`` This crash might also have mid- to long-term implications for China Eastern as the airline could be in an unfavorable position when applying for routes and slots over the next few years if it is found to be at fault. ''
China Eastern, which said on Monday it was cooperating with the investigation into the crash, did not immediately respond to requests for comment.
Its onshore-listed shares slumped more than 6.5% on Tuesday, while those trading in Hong Kong fell nearly 6%.
FEAR OF FLYING
The tragedy has shocked a country which has one of the best airline safety records in the world and whose aviation industry was over the past decade, prior to COVID, one of the world's fastest growing markets by passenger traffic.
Several social media users posted about how it had stoked their fears of flying and some wrote about changing their travel plans, especially after photos of the plane's wreckage and videos apparently showing its descent were shared widely online.
One Weibo user, PLILY-L, said she had planned to travel on a later flight on the same route taken by flight MU5735 from Kunming, capital of the southwestern province of Yunnan, to the port city of Guangzhou before she heard about the incident.
`` I was really scared, I immediately cancelled my flight ticket and switched to taking the high-speed rail, '' she wrote.
Local media reported long queues at the counter of China Eastern at Guangzhou Baiyun airport, saying some travellers were seeking ticket refunds after the incident.
Across the industry, around 78.4% of all flights scheduled for Tuesday were cancelled, according to Flight Master, which attributed that to COVID-19, as China deals with its largest outbreak in two years.
Some of the fears expressed online about flying were directed towards Boeing, whose brand had already been affected in China by two fatal crashes of its 737 MAX aircraft more than three years ago.
Boeing declined to comment and referred Reuters to the statement it released on Monday, when it said it was ready to assist China Eastern and was in contact with U.S. transportation safety regulators about the crash.
Elaine Shen, a Shanghai-based insurance professional who describes herself as a big fan of China Eastern, said she would stick with the airline but would now only fly on planes made by Boeing's rival Airbus.
`` I 'm going to Chengdu next month and I made sure its an Airbus 320. ''
( $ 1 = 6.3609 Chinese yuan renminbi) ( Reporting by Brenda Goh and Stella Qiu Additional reporting by the Shanghai newsroom Editing by Miyoung Kim and Mark Potter) | business |
Analysis-China Eastern faces more losses, regulatory scrutiny after plane crash | Rescuers on Tuesday scoured heavily forested slopes for survivors and data recorders from flight MU5735, which crashed a day earlier in the mountains of the southern region of Guangxi.
The plane crash, China's first in 12 years, comes as its airline sector is struggling to find its footing amid the coronavirus pandemic, with air passenger traffic far below 2019 levels due to repeated outbreaks and a steep fall in international travel due to China's strict quarantine rules.
China Eastern has been among the biggest casualties: The state carrier forecast in January a 2021 loss of 11-13.5 billion yuan ( $ 1.7- $ 2.1 billion), after a 11.8 billion yuan loss in 2020.
Its losses are set to deepen after the group, including two subsidiaries, grounded its fleet of 737-800s following Monday's crash. The group has 225 of the aircraft, data from British aviation consultancy IBA shows.
The airline cancelled about 89% of its flights on Tuesday, according to Chinese aviation data provider Flight Master.
`` My guess is that in the short term this is going to cause some issues for China Eastern as their maintenance records are reviewed, and there will likely be a short term pullback from Chinese consumers, '' said Ben Cavender, managing director at China Market Research Group in Shanghai.
Cheng Wang, associate equity analyst at Morningstar, said one of the big risks for China Eastern was if the investigation implies maintenance or other process shortfalls.
`` We think most of the impact will be in the near term. The indemnity alone will not have a material impact on our fair value estimates. The potential regulatory actions including fines, additional security requirements, or even grounding of aircraft could make a bigger difference. ''
`` This crash might also have mid- to long-term implications for China Eastern as the airline could be in an unfavorable position when applying for routes and slots over the next few years if it is found to be at fault. ''
China Eastern, which said on Monday it was cooperating with the investigation into the crash, did not immediately respond to requests for comment.
Its onshore-listed shares slumped more than 6.5% on Tuesday, while those trading in Hong Kong fell nearly 6%.
FEAR OF FLYING
The tragedy has shocked a country which has one of the best airline safety records in the world and whose aviation industry was over the past decade, prior to COVID, one of the world's fastest growing markets by passenger traffic.
Several social media users posted about how it had stoked their fears of flying and some wrote about changing their travel plans, especially after photos of the plane's wreckage and videos apparently showing its descent were shared widely online.
One Weibo user, PLILY-L, said she had planned to travel on a later flight on the same route taken by flight MU5735 from Kunming, capital of the southwestern province of Yunnan, to the port city of Guangzhou before she heard about the incident.
`` I was really scared, I immediately cancelled my flight ticket and switched to taking the high-speed rail, '' she wrote.
Local media reported long queues at the counter of China Eastern at Guangzhou Baiyun airport, saying some travellers were seeking ticket refunds after the incident.
Across the industry, around 78.4% of all flights scheduled for Tuesday were cancelled, according to Flight Master, which attributed that to COVID-19, as China deals with its largest outbreak in two years.
Some of the fears expressed online about flying were directed towards Boeing, whose brand had already been affected in China by two fatal crashes of its 737 MAX aircraft more than three years ago.
Boeing declined to comment and referred Reuters to the statement it released on Monday, when it said it was ready to assist China Eastern and was in contact with U.S. transportation safety regulators about the crash.
Elaine Shen, a Shanghai-based insurance professional who describes herself as a big fan of China Eastern, said she would stick with the airline but would now only fly on planes made by Boeing's rival Airbus.
`` I 'm going to Chengdu next month and I made sure its an Airbus 320. ''
( $ 1 = 6.3609 Chinese yuan renminbi)
( Reporting by Brenda Goh and Stella Qiu; Additional reporting by the Shanghai newsroom; Editing by Miyoung Kim and Mark Potter)
By Brenda Goh and Stella Qiu | business |
'Refuse quarantine! ': frustrations mount as China replays COVID controls | - In footage shared on social media last week, a crowd of people in the northeastern Chinese city of Shenyang bang against the windows of a clothing market as they shout in frustration at the announcement of yet another round of COVID-19 tests.
Though the local government quickly urged people not to '' spread rumours '' about the incident, the response from netizens was immediate. `` Refuse quarantine! '' said one. `` Many people have awoken to the truth, '' said another.
`` It's actually over, '' said a netizen posting on WeChat under the username `` Jasmine Tea ''. `` The common cold is more serious than this… The testing agencies want this to go on. The vaccine companies want to inoculate forever. ''
The comments reflect the growing frustrations throughout China as authorities use all the tactics in their `` zero-COVID '' playbook to grapple with the more infectious Omicron variant.
As case numbers surge, members of the public are wondering whether the government's increasingly complex `` dynamic clearance '' methods - including the continuous testing of residents - still work.
At a briefing last week, Wang Hesheng, vice-head of the country's National Health Commission, said China's increasingly refined tactics had reduced inconvenience.
`` It shows that at the cost of the normal activities of very small numbers of people, and the control of movement in very small areas, what comes in exchange is normal production and normal life for the widest range of regions and people, '' he said.
But there have been signs that a lack of clarity and consistency is exasperating the public, and China's social media censors have been working overtime to try to clear the tide of complaints.
In Yanjiao in Hebei province, a dormitory town for workers in Beijing, residents have been struggling to get home amid stringent lockdowns.
Images shared online, many of which have already been deleted, showed residents queuing in heavy snow for test results to get out of the capital. The posts drew hundreds of comments.
`` It's been three years since the outbreak and the government is still so ineffective in handling it - lazy one-size-fits-all government in complete disregard for the life and death of the people, '' said one netizen, posting on China's Twitter-like Weibo platform under the username Aobei.
Economic hardships have also been mounting. A courier surnamed Mao in the badly hit city of Changchun in northeastern Jilin province told Reuters that 90% of the neighbourhoods have been shut down, and he couldn't earn a living.
`` I don't have any choice, I can only wait for them to unseal the city - it's hopeless, '' he said.
ARBITRARY CONTROLS
Residents have also complained about the arbitrary nature of the rules as well as the unchecked power of the neighbourhood residential committees responsible for enforcing them.
In Beijing, one family said their residential committee was about to install a monitoring device on their apartment door to ensure they complied with an order to stay home for two weeks. The order came after a family member entered a supermarket that had been visited two days before by a confirmed COVID-19 case.
In Shanghai, residents were also bewildered by the uneven testing standards and lockdown thresholds imposed by apartment blocks and compounds across the city.
But China's policies have caused more than mere inconvenience, with netizens increasingly willing to discuss how lockdowns led to tragedy.
A widely shared post on Weibo last week reported that a patient undergoing chemotherapy at the Shanghai Cancer Hospital died while locked down in her lodgings next to the hospital.
In posts since deleted, bereaved citizens also shared stories about the death of loved ones caused by COVID-related disruptions.
`` My dad died of a stroke at the end of last year, '' said one, posting under the name MaDDNa. `` There was some hope of treatment. Unfortunately, we had to wait for a nucleic acid test report and missed the best treatment time. '' ( Reporting by David Stanway; Additional reporting by the Beijing and Shanghai newsrooms. Editing by Gerry Doyle) | business |
Antibodies in children last at least 6 mos after COVID; SK Bioscience vaccine shows promise vs Omicron | Antibodies in kids after COVID last 6 months or more
Most children and adolescents with COVID-19 antibodies after SARS-CoV-2 infection usually still have the antibodies in their blood more than half a year later, new data shows.
Starting in October 2020, researchers in Texas recruited 218 subjects between the ages of 5 and 19. Each provided three blood samples, at three-month intervals. More than 90% were unvaccinated when they enrolled in the study. The first blood test showed infection-related antibodies indicating recovery from COVID-19 in one-third of the children, the researchers reported online Friday in Pediatrics https: //publications.aap.org/pediatrics/article/doi/10.1542/peds.2021-055505/185412/Durability-of-SARS-CoV-2-Antibodies-From-Natural. Six months later, 96% of those with the antibodies still had them. The study was designed to detect the presence of antibodies, which are only one component of the immune system's defenses, not the amount of antibodies. The level of protection even in those with antibodies is unclear. Researchers found no differences based on whether a child was asymptomatic, severity of symptoms, when they had the virus or due to weight or gender.
`` It was the same for everyone, '' Sarah Messiah of UTHealth School of Public Health Dallas, said in a statement. `` Some parents... think just because their child has had COVID-19, they are now protected and don't need to get the vaccine, '' Messiah said. `` We have a great tool available to give children additional protection by getting their vaccine. ''
A small study published earlier this month in JAMA Network Open https: //jamanetwork.com/journals/jamanetworkopen/fullarticle/2789845 suggested that most children infected with the coronavirus do not have antibodies in their blood afterward. Only 37% of children appeared to develop antibodies, compared to 76% of adults, even though viral loads were similar in the two groups, those researchers found.
Experimental SK vaccine shows promise against Omicron
A booster shot of an experimental vaccine being developed by SK Bioscience Co has shown `` durable protection '' against the Omicron variant in Rhesus macaques, according to new data.
The monkeys had received two initial doses of the vaccine plus a booster 6 or 12 months later. Blood samples from the boosted primates showed `` remarkably high '' levels of antibodies that could neutralize both the original strain of the virus and the Omicron variant that caused infections to soar, the researchers reported on Sunday on bioRxiv https: //www.biorxiv.org/content/10.1101/2022.03.18.484950v1 ahead of peer review. The animals ' second-line immune defenses were also `` substantial and persistent, '' they said. The vaccine, called GBP510, triggers responses from the immune system by delivering copies of a key part of the spike protein from the surface of the coronavirus. The protein `` subunits '' are studded onto nanoparticles to resemble the virus itself. These components are supplemented with an adjuvant from GSK that boosts the immune system's responses, explained Bali Pulendran of Stanford University in California.
`` Vaccination with two doses... followed a year later by a booster shot... plus adjuvant, led to highly durable antibody responses and protection against Omicron infection, even six months later, '' Pulendran said. Large late-stage trials of GBP510 in humans are underway.
AstraZeneca drug less protective vs Omicron in transplant patients
The AstraZeneca antibody shots given to prevent COVID-19 in high-risk children and adults with weakened immune systems do not adequately protect organ transplant recipients from the Omicron variant, researchers found.
The drug, Evusheld, did protect against the Delta variant in kidney transplant recipients, and lab test results released on Monday show Evusheld can neutralize Omicron in mice, including the highly contagious BA.2 version. But among 416 kidney recipients treated with Evusheld after Omicron became the predominant variant, 9.4% developed symptomatic breakthrough infections, with one-in-three of those patients requiring hospitalization, researchers reported on Saturday on medRxiv https: //www.medrxiv.org/content/10.1101/2022.03.19.22272575v1 ahead of peer review. Two patients died of COVID-19. In lab experiments, the researchers exposed the BA.1 version of Omicron that caused the massive winter surge to blood samples from 15 Evusheld-treated patients. None of the samples could neutralize the virus.
The U.S. Food and Drug Administration recently advised https: //www.fda.gov/drugs/drug-safety-and-availability/fda-authorizes-revisions-evusheld-dosing that higher doses of Evusheld are likely needed to prevent Omicron infections, and that patients who received the originally approved shots should receive booster doses. The researchers said kidney transplant recipients `` should be advised to maintain sanitary protection measures and undergo vaccine boosters. ''
( Reporting by Nancy Lapid; Editing by Bill Berkrot)
By Nancy Lapid | business |
Hang Seng surges on Alibaba boost; China blue chips lose ground | * HSI +3.15%; CSI300 -0.08%; SSEC +0.18%
* Alibaba powers Hang Seng rise on share repurchase plan
* China Eastern shares down after plane crash
SHANGHAI, March 22 ( Reuters) - Chinese blue chips closed marginally lower in choppy trade on Tuesday, as investors weighed hawkish comments from U.S. Federal Reserve Chairman Jerome Powell, but Hong Kong's benchmark jumped on e-commerce giant Alibaba's share repurchase plan.
* * Hong Kong's Hang Seng index leapt 3.15% higher to 21,889.28 and the China Enterprises index finished up 4.06%.
* * Alibaba Group soared 11.2%, and was the biggest index point contributor to the Hang Seng benchmark.
* * The company raised its share buyback programme to $ 25 billion, the largest ever repurchase plan, to prop up its battered shares as it fights off regulatory scrutiny and concerns about slowing growth.
* * Alibaba's gains lifted the Hang Seng Tech index to close 5.37% higher.
* * In mainland markets, the CSI300 index finished 0.08% lower at 4,255.30, having swung between small gains and losses throughout the day.
* * The Shanghai Composite Index ended 0.18% higher at 3,259.86.
* * China will give nearly 1 trillion yuan ( $ 157 billion) in tax rebates to domestic small firms to shore up economic stability, state media CCTV quoted a cabinet meeting as saying on Monday.
* * The meeting, chaired by Premier Li Keqiang, also said China would take targeted measures to boost market confidence and keep capital market development stable and healthy.
* * Weighing on investor sentiment, Powell on Monday flagged a more aggressive tightening of monetary policy than previously anticipated, while peace negotiations between Russia and Ukraine were marked by slow progress.
* * Shanghai-listed shares of China Eastern Airlines closed 6.15% lower, while those in Hong Kong slipped 2.55%, after a Boeing 737-800 operated by the company with 132 people on board crashed in southern China on Monday.
* * The crash also sent tourism stocks down by 1.83%. The sector has already been hit by surging domestic COVID-19 cases.
* * Mainland China reported 2,338 confirmed coronavirus cases for March 21, compared with 2,027 a day earlier.
* * The smaller Shenzhen index ended down 0.61% and the start-up board ChiNext Composite index was weaker by 1.392%.
* * However, financials climbed 1.5% and real estate developers jumped 3.89% even as China Evergrande Group said it would not be able to publish its financial results for last year by March 31 as required by stock listing rules.
* * Around 0700 GMT, the yuan was quoted at 6.3638 per U.S. dollar, 0.11% weaker than the previous close of 6.3568. ( Reporting by Jason Xue and Andrew Galbraith; Editing by Subhranshu Sahu) | business |
Nemetschek Group: Excellent year 2021 - Double-digit growth with a high profitability expected in 2022 | DGAP-News: Nemetschek SE / Key word ( s): Annual Report/Forecast Nemetschek Group: Excellent year 2021 - Double-digit growth with a high profitability expected in 2022 22.03.2022 / 07:00 The issuer is solely responsible for the content of this announcement.
Corporate News
Nemetschek Group: Excellent year 2021 -Double-digit growth with a high profitability expected in 2022
2021 Financials: Record results in all key performance indicators
+14.2% revenue growth ( currency-adjusted: +15.6%) to EUR 681.5 million
+46.0% increase in subscription/SaaS revenue to EUR 132.0 million
+28.8% EBITDA growth to EUR 222.0 million, EBITDA margin expansion to 32.6%
+38.9% growth in earnings per share to EUR 1.17
Positive outlook for 2022: Revenue growth at constant currencies of 12% to 14% at an EBITDA margin between 32% and 33%
Munich, March 22, 2022 - The Nemetschek Group ( ISIN DE 0006452907), a leading global provider of software solutions for the construction and media industries, continues to be positive for 2022 after a very successful fiscal year 2021. For 2022, the Group listed in the MDAX as well as TecDAX expects a strong increase in currency-adjusted revenues in the range of 12% to 14%. Simultaneously, Nemetschek will pursue the strategic goal of further increasing its recurring revenues, in particular by transitioning to subscription and software as a service ( SaaS) models, which have already been a main growth driver in 2021 with a revenue increase of around 48%. The EBITDA margin is expected to remain at a high level between 32% to 33% in 2022. Nemetschek will therefore continue its long-standing growth record also in 2022.
`` In 2021, Nemetschek once again impressively demonstrated its status as one of the leading software providers in the world for all phases in the construction process. In addition to the construction sector, we are also addressing a series of highly attractive markets with our fast-growing Media & Entertainment segment '' says Yves Padrines, CEO of the Nemetschek Group. `` I am therefore convinced that the growth and earnings potential of our Group remains huge, also given the currently still low levels of digitalization in our industries. My ambition is to bring the company into the next growth phase. We will therefore significantly strengthen our sales power in the coming years, use new technologies such as digital twins, AI, machine learning as well as virtual reality while continuing to invest in highly innovative start-ups, thus continuing Nemetschek's development and further strengthen its unique reputation in the software industry. ''
Key Group figures for 2021
- Group revenues increased by 14.2% ( currency-adjusted: 15.6%) to EUR 681.5 million. The growth at constant exchange rates was therefore slightly above the forecasted corridor of 12% to 14% which was already increased in July 2021.
- As in previous years, revenues from subscription/SaaS were a key growth driver with an increase of 46.0% ( currency-adjusted: 47.7%) to EUR 132.0 million. Consequently, the share of recurring revenues which includes service contracts as well as rental models increased further to 61.1% of group revenues.
- Consolidated operating earnings before interest, taxes, depreciation and amortization ( EBITDA) grew over-proportionally compared to revenues by 28.8% to EUR 222.0 million. As a result, the EBITDA margin expanded by 3.7 percentage points to 32.6%. This result was above the forecasted corridor of 30% to 32%, which was raised in July.
- Net income ( Group shares) increased by 38.9% to EUR 134.6 million. Accordingly, earnings per share grew to EUR 1.17 ( 2020: EUR 0.84 per share).
- The increase in cash conversion to 96.6% ( previous year: 91.4%) as well as the equity ratio of 51.4% demonstrate the Group's very healthy financial position, which is geared towards further growth.
- The Executive Board and the Supervisory Board propose a dividend of EUR 0.39 per share for the financial year 2021, corresponding to an increase of 30%.
Strategic focus areas in 2021
In addition to the very strong operational performance, the Nemetschek Group also achieved important strategic progress in 2021:
- In the Media & Entertainment segment, Nemetschek significantly expanded its product portfolio and customer base following the successful subscription conversion and integration of the US acquisitions of Redshift and Red Giant by Maxon. In addition, Maxon further strengthened its position by acquiring Pixologic, a leading provider of 3D sculpting and painting software. Maxon has thereby solidified its leading position in the dynamically growing 3D animation market, which is currently estimated to be around EUR 16 billion.
- In 2021, Nemetschek invested in three young and highly innovative start-ups from Germany, the USA, and Norway in order to further increase its innovative strength and to cover important future topics such as digital twins, real-time project monitoring or quality control based on AI at an early stage.
- With the merger of selected brands, know-how and capacities were bundled with the goal to offer customers more integrated solutions from a single source in the future while simultaneously increasing the internal efficiency.
Overview segment performances and highlights in 2021
- In the Design segment, revenues increased at a double-digit rate of 11.7% ( currency-adjusted: 12.7%) to EUR 351.8 million in 2021. Subscription revenues contributed to this growth with a strong increase of 61.1%. The segment EBITDA grew over-proportionally compared to revenues by 24.1% to EUR 118.9 million. The corresponding EBITDA margin consequently improved by 3.4 percentage points to 33.8%.
- In the Build segment, revenues increased by 14.9% ( currency-adjusted: 17.1%) to EUR 221.8 million. The growth was mainly driven by the strong demand of international customers and SMEs for collaboration, cloud and mobile solutions. At the same time, cloud and mobile capabilities were further enhanced in order to make the transition to subscription/cloud starting in H2-2022 as attractive as possible. The EBITDA increased significantly by 31.0% to EUR 91.8 million, corresponding to an EBITDA margin of 41.4% ( previous year: 36.3%).
- The Media & Entertainment segment recorded a strong increase in revenues of 27.7% ( currency-adjusted: 29.8%) to EUR 70.5 million. The significantly increased customer base Maxon has gained through its flagship product Maxon ONE and the successful conversion to subscription were important success factors. EBITDA grew faster than revenues to EUR 25.5 million, and the EBITDA margin increased by 8.1 percentage points to 36.2%.
- In the Manage segment, revenues increased by 7.0% to EUR 43.7 million. Just like in the previous year, Covid-19 led to a continued restraint demand from the important customer group of facility managers. The EBITDA increased by 10.1% to EUR 4.1 million.
Outlook 2022
The Nemetschek Group will continue to develop its successful business model by remaining focused on innovation leadership, its sales strength, its customer proximity as well as by means of targeted investments in start-ups and innovative companies. Thanks to the enormous market potential along with the unchanged fundamental growth drivers, Nemetschek's executive board looks positively into 2022.
The executive board therefore expects a revenue growth at constant exchange rates in the range of 12% to 14% for the Group in fiscal year 2022. The benefits of the stronger shift to subscription/SaaS models will additionally lead to a higher value generation and further accelerate the Group's growth in the coming years. The EBITDA margin is targeted to be between 32% and 33%.
The outlook is based on the assumption that there will be no significant deterioration in the global macroeconomic as well as industry-specific conditions in 2022, in particular in the light of the recent growing global economic risk due to the war in Ukraine.
Overview of quarterly key figures ( Q4)
Overview of quarterly key figures per segment ( Q4)
Overview of full year key figures
Overview of full year key figures per segment
For further information on the Nemetschek Group, please contact: Nemetschek Group Stefanie Zimmermann Investor Relations +49 89 540459 250 szimmermann @ nemetschek.com
About the Nemetschek Group The Nemetschek Group is a pioneer for digital transformation in the AEC/O and the media & entertainment industries. With its intelligent software solutions, it covers the entire lifecycle of building and infrastructure projects, guides its customers into the future of digitalization and enables them to shape the world. As one of the leading corporate groups worldwide in this sector, the Nemetschek Group increases quality in the building process and improves the digital workflow for all those involved. Customers can design, build, and manage buildings more efficiently, sustainably and resource-saving. The focus is on the use of open standards ( OPEN BIM). The portfolio also includes digital solutions for visualization, 3D modeling, and animation. The innovative products of the 13 brands of the Nemetschek Group in the four customer-oriented segments are used by approximately 6.5 million users worldwide. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs around 3,400 experts all over the world. Publicly listed since 1999 and quoted on the MDAX and TecDAX, according to preliminary figures, the company achieved revenue amounting to EUR 681.5 million and an EBITDA of EUR 222.0 million in 2021.
22.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.de
1307991 22.03.2022 | business |
Novavax says its COVID vaccine gets India authorisation for teens | Novavax Inc said on Tuesday its COVID-19 vaccine has got emergency-use authorization from the Drugs Controller General of India for children aged 12 to 17 years.
The authorization is a global first for the age group for the vaccine, which is manufactured and marketed in India by the Serum Institute of India under the brand name Covovax.
Novavax last month said its vaccine was 80% effective against COVID-19 in a late-stage trial testing the shot in 2,247 teens aged 12 to 17 years.
The company said on Tuesday its vaccine produced an immune response in the same age group in a mid- to late-stage study involving 460 Indian adolescents.
Covovax is the fourth COVID-19 vaccine to be authorized for adolescents aged 12 years and older in India after Biological E's Corbevax, Zydus Cadila's ZyCoV-D and Bharat Biotech's Covaxin.
India, which had so far been vaccinating children aged 15 and above, started administering doses of Biological E's Corbevax last week to children aged 12 to 14.
The country's drug regulator in December authorized Novavax's COVID-19 vaccine for people aged 18 years and above. ( Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta) | business |
GVS S p A: The GVS Board of Directors approved the 2021 consolidated results and the draft financial statements as at 31 December 2021 | PRESS RELEASE
THE GVS BOARD OF DIRECTORS APPROVED THE 2021 CONSOLIDATED RESULTS AND
THE DRAFT FINANCIAL STATEMENTS AS AT 31 DECEMBER 2021
REVENUES OF 338.1 MILLION EURO ( 363.3 IN 2020)
RECOVERY OF THE POSITIVE TREND IN THE FOURTH QUARTER OF THE YEAR
IN LINE WITH EXPECTATIONS
GROWTH CONFIRMED OF THE HEALTHCARE AND LIFE SCIENCES DIVISIONS
AND ENERGY & MOBILITY COMPARED TO THE PREVIOUS YEAR
PERFORMANCE OF THE HEALTH AND SAFETY DIVISION IN LINE WITH EXPECTATIONS
WHOSE TREND IN 2020 AND TO A LESSER EXTENT IN 2021 WAS DRIVEN BY THE
EXTRAORDINARY CONSUMPTION LINKED TO THE SPREAD
OF THE COVID 19 PANDEMIC
THE IMPACT OF DISPOSABLE MASK-RELATED SALES WAS
OF ∼ 100 MILLION EURO IN 2020 AND ∼ 51 MILLION EURO IN 2021
NET OF THE EXTRAORDINARY EFFECTS 2019-2021 REVENUE CAGR WAS 12%
FOCUS ON ORGANIC GROWTH AND THROUGH M & A
EXPECTED CAGR ON REVENUES 2019-2025
+11% ORGANIC +7% THROUGH M & A
IN LINE WITH THE GROUP 'S HISTORICAL TREND
TARGET MARGIN ON REVENUES OF 32% AT END OF PERIOD
POST SYNERGY AND RECOVERY OF DILUTION EFFECT
RELATED TO NEW ACQUISITIONS
The GVS Group's key performance indicators for the 2021 financial year, compared with the 2020 financial year results:
a 2019-2021 CAGR of 12% ( extraordinary effect of approximately 100 million euro in 2020 and 51 million euro in 2021).
Zola Predosa ( BO), 22 March 2022 - The Board of Directors of GVS SpA, a leading provider of advanced filtration solutions for highly critical applications, met today in Zola Pedrosa ( BO) and approved the Draft Financial Statements and Consolidated Financial Statements for the year ended 31 December 2021, which have been prepared in accordance with IFRS international accounting standards.
* * *
Massimo Scagliarini, CEO of GVS, commented: `` 2021 was a year that presented important challenges from the point of view of the supply chain and price increases, thanks to the careful and punctual management of the situation we confirmed our trend of financial results, which ranks us on the highest levels in comparison with all our main Peers. 2022 confirms to be another extremely complicated year for energy and supply chain issues to be monitored with extreme attention. Our goal is to continue to pursue excellent results and solid and constant growth both organic and through new acquisitions, we firmly believe that this mix is still the winning formula even today to face such turbulent times ``.
* * *
ANALYSIS OF THE GROUP 'S ECONOMIC MANAGEMENT
In 2021, GVS achieved consolidated revenues of 338.1 million euro -6.9% compared to 363.3 million euro reported in 2020, but up 9% by sterilising the impact of sales of disposable masks in 2021 ( 51 million euro) and 2020 ( 100 million euro) resulting from the spread of the Covid19 pandemic.
Revenues in the Healthcare & Life Sciences division grew during the year due to a positive trend in the Laboratory and Healthcare Liquid businesses, which more than absorbed the correction recorded in the Healthcare Air & Gas business. The performance of the Energy & Mobility division was characterised by the gradual recovery of pre-pandemic production levels in the first half of the year with a slowdown in the second half of the year that led to a rescheduling of orders and related delivery times as a result of the `` disruption '' of the logistics and supply chain in the sector. The Health
In terms of performance and breakdown of revenues from contracts with customers at 31 December 2021:
Adjusted EBITDAErrore. Il segnalibro non è definito. with 32.0% margin on revenues amounted to 107.9 million euro ( -25.1%), compared to 144.1 million euro in 2020 and 40.0% margin.
This difference stems from:
The percentage impact of personnel costs on revenues from sales and services increased over the previous year from 26.9% in 2020 to 29.2% in 2021.
Adjusted EBIT1 with 26.4% margin on revenues, amounted to 89.3 million euro ( -30.6%) compared to
128.6 million euro in the previous year and 35.4% margin. The item amortisation, depreciation and write-downs increased by 3.1 million euro compared to the previous year, mainly due to the acceleration of the Group's investment plans in 2020, in order to meet the necessary increase in production capacity.
Net financial expenses ( net of foreign exchange gains and losses) amounted to approximately 2.0 million euro, a decrease of approximately 1.6 million euro compared to the previous year, mainly due to the reduction in interest expense following the decrease in financial debt characterised by higher nominal rates and the closing and subsequent signing of new loans at more advantageous economic conditions.
Adjusted Net Profit3 was 75.4 million euro compared to 87.2 million euro in 2020.
Net Financial Position as at 31 December 2021 was -107.8 million euro ( including the IFRS 16 effect of
The cash generated from operations was sufficient to meet the outlays for ordinary investments made during the period of 23.2 million euro ( CAPEX) and the cash used to pay dividends totalling 22.75 million euro and for the buyback for 3.5 million euro.
In 2021, GVS purchased 306,802 ordinary shares ( representing 0.18% of the share capital). Finally, it should be noted that the stake held by the majority shareholder remained unchanged during the year.
* * *
SIGNIFICANT EVENTS AT 31 DECEMBER 2021 AND AFTER
In January 2021, the subsidiary GVS Technology ( Suzhou) Co. Ltd. transferred ownership of its production site in Suzhou to the Chinese Public Authority, recording an extraordinary capital gain of approximately 1.96 million euro. At the same time, while on the one hand contributions obtained from the Chinese government for the relocation of the same production site amounting to 0.77 million euro were recorded in the consolidated income statement, on the other, a provision was made for charges for the relocation of the same plant for 0.94 million euro. Under the agreements reached, in fact, the company will continue to operate there, free of charge, until the relocation to a new production site is completed. The timing of the investment in the new production site and the transfer of production and warehousing will be agreed between the parties at a later date, in order to avoid discontinuity in the production and marketing of products.
On July 28, 2021, the Board of Directors approved the sale of the equity investment in GVS Patrimonio Immobiliare Srl, held by GVS Microfiltration, to GVS Real Estate Srl. This transaction will be financed by GVS Real Estate Srl, which will pay the sale price and provide GVS Patrimonio Immobiliare with the amount necessary to extinguish its current debt position with GVS S.p.A.
On 31 August 2021 the GVS Group acquired 100% of the share capital of the RPB Group, specialising in the design and manufacture of respiratory protection, including supplied-air respirators and powered air-purifying respirators. In particular, GVS NA Holding Inc. ( 100% owned by GVS S.p.A.) acquired 100% of the share capital of the American companies Goodman Brands LLC and Abretec Group LLC, while GVS S.p.A. acquired 100% of the share capital of RPB Safety Ltd ( a New Zealand company). The purchase price was set at a maximum of 194.4 million dollar. The transaction provides for an upfront payment of approximately 150 million dollar for the acquisition of 100% of the share capital, and a possible earn-out of 44.4 million dollar ( maximum value), the payment of which, expected in 2022, will be proportionally related to the achievement of the RPB Group's 2021 adjusted EBITDA targets. In order to finance the operation, GVS has signed a 5-year loan agreement for 150 million euro with a pool of lending banks: Mediobanca - Banca di Credito Finanziario S.p.A., which also acts as agent, Unicredit S.p.A. and Crédit Agricole Italia S.p.A.
In October 2021 the Company initiated the share buyback program authorised by the Shareholders ' Meeting of 27 April 2021 ( the `` Buyback Plan '') under the terms already disclosed to the market. In execution of the aforementioned shareholders ' resolution, the first part of the Buyback Plan was launched from 8 October 2021 until 30 April 2022, for a maximum number of own shares able to be purchased of 450,000 ( equal to 0.26% of the subscribed, paid-up share capital), with a maximum value set at 6 million euro.
On 01 February 2022 - The Company announced that on 28 January 2022 the first part of the Buyback program of GVS ordinary shares, communicated to the market on 07 October 2021 and launched on 08 October 2021, in execution of the resolution of the Shareholders ' Meeting of 27 April 2021, was concluded. During the period between 8 October 2021 and 28 January 2022, GVS purchased 450,000 ordinary shares ( equal to 0.26% of the share capital), for a total value of 4,844,190 euro and a volume-weighted average price of 10.76 euro. Following the purchases made, GVS holds a total of 450,000 treasury shares, equal to 0.26% of the share capital.
On 02 March 2022, the GVS Group, through its subsidiary GVS Technology ( Suzhou) Co. Ltd, completed the acquisition of the entire share capital of Shanghai Transfusion Technology Co. Ltd ( `` STT ''), a long-established Chinese company, a leader in the manufacture and sale of products related to blood treatment. The closing of the transaction took place following full compliance with the conditions precedent laid down in the purchase and sale agreement. The consideration paid at the closing was approximately 50 million euro. A deferred payment, in the maximum amount of approximately 9 million euro, will be paid to the vendor in the event that STT obtains authorisation to produce and market a new strategic product line. The price may be subject to certain adjustments based on working capital and net financial position. The acquisition was financed with GVS available cash. Post closing, STT will repay the loan of approximately CNY 70.0 million ( approximately 10.0 million euro) granted by the seller for the purpose of financing certain pre-closing payments and providing STT with adequate working capital.
In March 2022, GVS defined with the sellers of RPB, the amount to be paid as an earn out based on the achievement of the RPB Group's Adjusted EBITDA targets during 2021. Note that this financial debt is reflected in the financial situation reported at 31 December 2021, in line with the applicable accounting standards.
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GVS S.p.A. published this content on 22 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2022 14:41:01 UTC. | business |
Kate Middleton Wears Hot Pink Vampire's Wife Gown in Belize | We may earn commission from links on this page, but we only recommend products we love. Promise.
WILL be wearing to the nearest available wedding.
Kate Middleton and Prince William are currently on a royal tour of Belize, and the Duchess stepped out in the one of her most glam looks ever for an event celebrating Queen Elizabeth's Platinum Jubilee at the Mayan ruins of Cahal Pech.
The Duke and Duchess of Cambridge leave the reception tonight - Kate’ s Vampire’ s Wife dress glittering in the flashlights pic.twitter.com/f3le6c6qVn
In case you're curious to learn more about the Cambridges ' trip, William gave a speech at this event, saying, per People, `` Catherine and I are delighted to be here with you tonight in Belize at the beginning of our first official visit to the Caribbean. You could not have chosen a more beautiful and evocative setting, here at Cahal Pech. '' He went on to speak about the highlights from their trip, and added `` I am honored to convey the very warmest wishes from my grandmother, The Queen of Belize, on the occasion of her Platinum Jubilee. She always speaks so fondly of her visits to Belize, which of course included a memorable stop here at Cahal Pech in 1994. ''
William is now giving a speech in front of the Mayan ruins # RoyalVisitBelize pic.twitter.com/6WMzsQyOet
William also spoke about Belize's support for the people of Ukraine, saying `` Belize has joined many others in condemning the invasion and standing up for the principles of international law, peace and security. Today we think of those struggling in Ukraine and we stand with them in solidarity. '' And he commended the country's pandemic response, saying the `` last two years of the COVID-19 pandemic have been hugely challenging, but it is reassuring to have heard from so many people that things are on the up. COVID rates are low, the vaccination program is going well, and it is wonderful to see the hotels filling with tourists again. ''
FYI, William and Kate took this trip solo ( without their three kids), but William did add `` We hope to return again soon and to show our children this wonderful country. They are rather jealous that they are not here with us now! '' | general |
Wis. Tribe Asks 9th Circ. To Undo Virus-Coverage Suit Loss | The Menominee Indian Tribe of Wisconsin asked the Ninth Circuit on Friday to revive its lawsuit seeking insurance coverage for COVID-related business losses, saying the virus `` caused a structural alteration to the surfaces and air of [ its ] properties. `` That argument rebuffs insurers ' claims — adopted last year by a California federal judge who tossed the case— that the tribe's coverage request is invalid because COVID-19 did not tangibly damage its property.But the Menominee say their all-risk property policy insures loss of use due not only to physical destruction but also contamination issues, pointing to other rulings that backed insurance claims... | general |
Ill. Nursing Home Loses Early Win Bid In COVID Death Suit | An Illinois federal judge ruled Tuesday that a nursing home accused of causing a COVID-19 outbreak that resulted in the deaths of several residents can't escape twin suits because it remains to be seen whether a gubernatorial executive order provides legal immunity for the home.U.S. District Judge Manish S. Shah denied a motion for judgment on the pleadings lodged by SSC Westchester Operating Co., the owner of Westchester Health and Rehabilitation Center, a long-term care facility that had 44 confirmed cases of COVID-19 and at least 12 deaths. The suits claim the nursing home knowingly exposed residents to positive or... | general |
5th Circ. Upholds Hartford Unit Virus Coverage Win | The owners of an upscale men's clothing store chain are not entitled to coverage for its pandemic losses from a Hartford unit, the Fifth Circuit said Tuesday, affirming the lower court's judgment for the insurer.The Fifth Circuit said the business losses suffered by an upscale men's clothing store chain in four Southern states aren't tangible and thus can't qualify for COVID-19 coverage from Twin City Fire Insurance. ( AP Photo/Richard Drew, FILE) Q Clothier's stores in Louisiana, Texas, Georgia and Oklahoma did not suffer a tangible alteration from government shutdown orders, the panel said. `` We conclude the Louisiana Supreme Court would interpret... | general |
CHINA DATA: Pakistan increases gasoline imports from China in Jan-Feb | In this week's Market Movers Americas, presented by Jeff Mower: * US Gulf of Mexico offshore output...
Pakistan imports 7.2% more gasoline from China in Feb
Pakistan imported 395,000 mt of gasoline from China over January-February, up 26.2% on the year, the customs data showed March 21, making it the only country to have received more fuels from China during that period.
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In February alone, Pakistan received 190,000 mt of gasoline from China, up 7.2% on the year.
The increase in imports was in line with the country's growing demand. Pakistan's gasoline consumption growth is expected to be in near double-digits over the next three years due to rising auto sales, despite the push toward cleaner fuels, CEO of Pakistan State Oil Syed Muhammad Taha told S & P Global Commodity Insights in an interview.
Over the next two to three years, motor gasoline demand is expected to increase 8% -10% per annum owing to the sharp increase in economic activity, according to Taha.
In the first two months of the year, China's gasoline imports almost halved by 46.7% on the year to 1.885 million mt.
China is set to reduce its oil product exports by slashing the first batch of export quota allocations for gasoline, gasoil and jet by 56% on the year to 13 million mt for 2022, S & P Global reported earlier.
Looking ahead in March, China's gasoline outflows are more likely to fall as low as 520,000 mt amid tight export quotas, while gasoil exports are likely to recover slightly to over 500,000 mt as export margin becomes attractive, information collected by S & P Global showed.
Demand for gasoline is expected to rise within regional economies, such as Cambodia and South Korea, as the countries ease COVID-19 travel restrictions amid a pick up tourism demand.
Cambodia waived pre-entry tests, while South Korea will allow fully vaccinated travelers to enter without quarantine from April 1, according to local media.
Demand for gasoline is also expected to be supported by the upcoming Ramadan festivities in April, market sources said.
One market source estimated Indonesia would import 10 million barrels of gasoline in April, while Malaysia was estimated to import 1 million barrels in April.
China's gasoil outflows fell to multi-year lows of 197,000 mt in February, down further from 223,000 mt in January.
In February, the Philippines became the top receiver of China's gasoil at 56,000 mt.
Overall exports to the Philippines in the first two months, which amounted to 110,000 mt, however, were still down 85.9% from a year ago.
The decline came amid strict lockdown measures imposed by the Southeast Asian nation to curb the spread of COVID-19, which hurt consumption of gasoil.
Despite that, the Philippines was still the top destination for China's gasoil over January-February, and would continue to take up a large share of China's gasoil exports going forward as the country continues to ease border restrictions.
Meanwhile, South Africa received a rare cargo of 40,000 mt of gasoil in February, the first in 20 months.
Feb-22 Jan-22% Change Feb-21% Change Singapore 472 397 18.7% 674 -30.0% Philippines 211 NA NA 304 -30.4% Pakistan 190 206 -7.7% 177 7.2% Malaysia 55 102 -46.5% 101 -45.6% Indonesia 36 71 -49.8% 208 -82.8% Total * 1,024 861 18.9% 1,650 -37.9%
Jan-Feb 2022 Jan-Feb 2021% Change Singapore 869 1,569 -44.6% Pakistan 395 313 26.2% Philippines 211 474 -55.4% Malaysia 157 431 -63.6% Indonesia 107 323 -66.9% Total * 1,885 3,540 -46.7%
Feb-22 Jan-22% Change Feb-21% Change Philippines 56 54 3.5% 308 -81.9% Singapore 43 44 -4.0% 375 -88.6% South Africa 40 0 NA 0 NA Panama 13 22 -42.6% 14 -9.4% Hong Kong 9 12 -19.4% 170 -94.5% Total * 197 223 -11.6% 1,715 -88.5%
Jan-Feb 2022 Jan-Feb 2021% Change Philippines 110 777 -85.9% Singapore 87 597 -85.4% South Africa 40 0 NA Panama 35 31 13.7% Hong Kong 21 365 -94.2% Total * 420 3,435 -87.8%
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LNG market gets boost as Mubadala starts first gas from Pegaga in Malaysia - News for the Energy Sector | The outlook for liquefied natural gas ( LNG) production in Asia has taken a positive turn following Mubadala Petroleum starting first gas flows from Pegaga to the Petronas-led Bintulu LNG export complex in Malaysia.
The news is positive as Bintulu has been operating well below its export capacity as Petronas has struggled to source enough gas to boost LNG production.
Asian LNG demand is expected to remain bullish as temperature forecasts are now trending at or below normal at a time when most North Asian buyers are likely running low on inventory after months of limited spot buying activity and previous production upsets at Bintulu and Shell’ s Prelude FLNG facility offshore Australia, Rystad Energy said in a note.
Significantly, Prelude FLNG is expected to restart in the coming weeks, while more output from Bintulu will also help ease the pressure on the tight regional market for LNG. This is a positive development for a region badly in need of every LNG molecule it can get its hands on, said Rystad.
“ The ( Pegaga) project, which undertook its Final Investment Decision at the time when the oil market was still recovering in 2018, demonstrates the confidence of investors in Malaysia’ s upstream industry. The country’ s ecosystem also proved its resiliency with the successful design and fabrication of facilities completed during the peak of the COVID-19 pandemic, ” Petronas senior vice president of Malaysia Petroleum Management, Mohamed Firouz Asnan said yesterday.
Mubadala Petroleum has been present in Malaysia since 2010 and is the operator of Block SK 320 with a 55% interest. Petronas Carigali, a subsidiary of Petronas holds 25%, with Shell ( LON: SHEL) holding the remaining 20% share.
The Pegaga gas field is in the Central Luconia province, offshore Sarawak, Malaysia at about 108-meter water depth. The development concept comprises of an Integrated Central Processing Platform ( ICPP) consisting of an 8-legged jacket. The facility is designed for gas throughput of 550 million standard cubic feet of gas per day plus condensate. The produced gas will be evacuated through a new 4 KM, 38-inch subsea pipeline tying into an existing offshore gas network and subsequently to the onshore Petronas LNG complex in Bintulu.
Petronas seeks to appease ConocoPhillips and Shell with $ 3bn floating LNG unit
At the height of the pandemic in Malaysia, the jacket and wellhead deck, which were constructed in Lumut and Kuching fabrication yards, were installed in April 2020 followed by the Pegaga Development Drilling campaign. The ICPP float-over and installation was then safely completed in August 2021. | general |
China locks down city of 9 million as virus ripples across country | Hi, what are you looking for?
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China locked down an industrial city of nine million people overnight and reported more than 4,000 virus cases on Tuesday, as the nation’ s “ zero-Covid ” strategy is confronted by an Omicron wave.
Health authorities reported 4,770 new infections across the country, the bulk in the northeastern province of Jilin, as the city of Shenyang in neighbouring Liaoning province was ordered to lock down late Monday.
China has moved fast in recent weeks to snuff out virus clusters with a pick-and-mix of hyper-local lockdowns, mass testing and citywide closures. It reported two Covid-19 deaths on Saturday, the first in over a year.
Authorities have warned of the risk posed to growth by persistent lockdowns as the country strives to balance the health crisis with the needs of the world’ s second biggest economy.
Shenyang, an industrial base home to factories including carmaker BMW, reported 47 new cases Tuesday as authorities put all housing compounds under “ closed management ” and barred residents from leaving without a 48-hour negative test result.
Last week Chinese President Xi Jinping stressed the need to “ minimise the impact ” of the pandemic on China’ s economy, but also urged officials to “ stick to ” the current zero-Covid approach.
But Beijing’ s virus playbook has been stretched to the limit by the latest Omicron surge, which has forced authorities to free up hospital beds from mild-symptom patients.
Some cities such as Shanghai have avoided a full lockdown and instead imposed a web of individual building lockdowns, even as new daily asymptomatic infections there spiral into the hundreds.
Jilin provincial officials announced Monday that the first 10,000 doses of Pfizer’ s oral Covid drug arrived on Sunday, marking the first time Paxlovid has been used in China.
The province last week imposed strict travel curbs banning locals from leaving their cities and counties, while several cities have already confined residents at home.
The southern tech powerhouse of Shenzhen on Monday announced it would lift its week-long lockdown “ in an orderly manner ”, after having partially eased measures on Friday to minimise the impact of virus shutdowns on factories and ports.
Health officials last week revealed only around half of Chinese aged over 80 have been double-vaccinated, as the spectre of Hong Kong’ s dire Covid mortality rates — mainly among the unvaccinated elderly — hangs over Beijing’ s decision making.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Australia has returned 29 religious and cultural artefacts to India, among them several stolen or illegally exported from the country.
A China Eastern passenger jet carrying 132 people crashed onto a mountainside in southern China on Monday causing a large fire.
The EU’ s foreign policy chief Josep Borrell calls Russia’ s attack on port city of Mariupol “ a massive war crime. ”
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French public confidence in science has changed since Covid, according to poll | The poll called `` Baromètre de l’ Esprit critique '' * ( Barometre of Critical thinking), published on Tuesday was carried out by the group Gece for Universcience, in partnership with public news agency franceinfo and La Croix newspaper.
It was the first edition of an event organised by Universcience, the public body that regroups Cité des sciences et de l'industrie ( City of Science and Industry) Museum in Paris and the Palais de la découverte ( Palace of Discovery), in Paris.
The questions were asked along three main themes; the public's relationship to science, capacity for scientific reasoning, and approach to methodology.
Eighty-eight percent see science as a way to develop new technology useful for society, 87% said science enabled a better comprehension of the world and 85% said it was necessary for improving living conditions.
According to the poll, French people are avid consumers of scientific subjects: 81% said they watch scientific documentaries, 67% use Internet for scientific content and 64% watch videos on YouTube.
With the Covid crisis still in the forefront of the public's mind, the relationship between French citizens and science has come under a certain amount of strain over the past two years, with experts seen as having the edge over media or politics when it came to getting the facts.
Within the scientific community, doctors received the most support, with 51%, while 38% said they only had confidence in `` some '' doctors.
Researchers followed behind with 44% for most researchers, ( 40% for `` selected '' researchers). Other findings include:
In terms of media coverage of news items in general, 68% said television was their main source to get information, 73% said they used Internet, 50% got information from their friends and family, 46% listened to the radio and 40% used newspapers and social media.
However, when it came to scientific subjects, television and radio were out on top with 44%, followed by press 40%, then scientific websites ( 27%) and scientific books ( 25%).
Mainstream journalists only garnered 14% when it came to confidence in reporting on scientific subjects, slightly ahead of politicians on 8%.
In terms of attitude, 86% of those polls said they were `` open to new ideas '' while 81% said they would `` take on board a maximum number of opinions on each subject ''. | general |
Omicron ‘ stealth’ variant and fewer restrictions driving resurgence of Covid in France and Europe | France reported an average of close to 90,000 new coronavirus infections over the last seven days, marking a 36% rise from one week ago when most Covid-19 health protocol measures were lifted by the government just ahead of the country's elections.
New cases over the previous 24 hours published on Sunday stood at 81,283, pushing a 7-day moving average to 89,002, compared with just over 60,000 average new cases one week earlier. The number of cases per 100,000 inhabitants also reached their highest value level since Feb. 18.
The government of French President Emmanuel Macron, who will stand for re-election in less than three weeks time followed by legislative elections later this year, decided to lift most COVID-19 restrictions on March 14, citing a positive trend.
After more than a month of falling cases across much of the continent, other countries such as Britain, Germany and Italy have all seen a dramatic resurgence of infections in recent days.
In Germany, despite a new daily record of nearly 300,000 infections on Friday, the government let national legislation enabling coronavirus restrictions expire over the weekend. Most German states, which have considerable leeway on applying measures, have however maintained the restrictions.
In Italy, the government announced on Thursday it would phase out almost all restrictions by May 1 despite rising cases.
And in Britain, where one in 20 people are currently infected, the government removed the last of its international travel restrictions on Friday.
Faced with its own surging cases, Austria announced on the weekend it would reimpose rules requiring FFP2 face masks - just weeks after lifting the measure.
'Stealth Omicron '
While some have blamed governments for relaxing restrictions too quickly, epidemiologists also pointed the finger at the BA.2 sub-lineage of the Omicron variant which has become dominant in many countries.
Sometimes called `` stealth Omicron '' because it is more difficult to detect, BA.2 is estimated to be about 30 percent more contagious than its predecessor BA.1.
Lawrence Young, a virologist at Britain's University of Warwick, said the rising cases in Europe were due to ‘ a perfect storm’ of three factors: the lifting of restrictions, waning immunity after vaccination and BA.2.
`` Removing restrictions has fuelled the spread of BA.2 and could also lead to the generation of other variants, '' he told the French news agency AFP.
Antoine Flahault, director of the Institute of Global Health at the University of Geneva said there were `` a couple of hypotheses on the table, which are not mutually exclusive ''.
He said that BA.2 was `` clearly a relevant suspect in explaining the current rebound '', also mentioning waning immunity and the easing of measures.
He also pointed to air pollution in Western Europe during the infection resurgence, referring to research that showed `` strong correlation '' between Covid outbreaks and high levels of fine particulate matter in the air.
Simon Clarke, cellular microbiology professor at the University of Reading, said that despite soaring cases in Britain, `` concern about the virus among the public seems to be at an all-time low since the start of the pandemic.
`` The BA.2 version of Omicron seems to be behind this uptick in infections, which again shows how quickly the situation can change as the virus evolves into new forms, '' he told the Science Media Centre.
New variant threat
In a bid to bolster waning immunity, some nations such as France have started rolling out fourth vaccine doses.
In England, a fourth booster shot will be made available to care home residents, people aged over 75 and the immunosuppressed this week, the National Health Service said Sunday.
However the World Health Organization has warned that new variants were more likely to continue emerging if wealthy nations continue to boost their own citizens ahead of sharing vaccines with countries where many have not received their first dose.
Jean-Francois Delfraissy, president of the French government's scientific advisory board, has already warned of potential variants.
`` We are at the mercy of a new variant which, if we ask the scientist community, could be expected in the autumn... it could happen before then, '' he said last week. | general |
Hong Kong martial arts teacher charged over sedition, weapons | Hi, what are you looking for?
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A Hong Kong martial arts coach accused of running an armed separatist movement with his assistant has been charged with sedition, police said Tuesday, after a raid that seized weapons including crossbows and machetes.
Police allege the coach, 59, and a 62-year-old female assistant — both of whom face weapons charges — set up a martial arts training hall to “ incite hatred ” against the government and organise “ an armed force for Hong Kong independence ”.
“ The arrested persons were deeply affected by misinformation and became self-radicalised… Now they are spreading the misinformation to others, ” senior superintendent Steve Li told a press conference.
Hong Kong’ s colonial-era sedition law, which lay unused for decades, has reemerged in the past year as a key tool in the ongoing crackdown on dissent that followed 2019’ s massive democracy protests.
Authorities said they are also considering more serious charges for the duo under the sweeping national security law Beijing imposed on the city in response to the at-times violent demonstrations.
The male suspect was charged with one count of sedition, while both suspects faced charges related to the possession of weapons and firearms without a license, police confirmed Tuesday afternoon.
The suspects — arrested Sunday in the city’ s Tsim Sha Shui district — are accused of posting anti-government messages including calls to topple China’ s communist regime and for a “ shadow government and self-defence force ” to be established.
“ With this vicious cycle, we are very worried those radicalised will go one step further and commit terrorist attacks, ” Li said.
The arrests came after Hong Kong’ s National Security Department — which enforces the law — sent an undercover officer to the martial arts studio, where the two suspects were teaching “ combat tai chi ”.
Police said they found unlawful weapons including an airgun, eight crossbows, 30 steel-tipped arrows and a collection of blades. Airguns exceeding a certain level of power are considered firearms under Hong Kong law.
The suspects also allegedly urged people to resist anti-coronavirus policies, opposing the government’ s contact-tracing app and vaccination drives, police said.
Sedition carries a maximum penalty of two years in prison.
Hong Kong authorities have increasingly applied the label of “ sedition ” to speech that challenges official policies on the coronavirus.
Last month, singer Tommy Yuen and two others were arrested over social media posts that urged people to defy Covid-19 restrictions.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
Popular payment apps like Zelle have become easy fodder for con artists.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
Japans ' ENEOS has no plans to sign Russian crude import deals following invasion: chairman | In this week’ s Market Movers Americas, presented by Joshua Pedrick: • Metals markets watch upcoming...
FOB Middle East ammonia prices, supported by European supply constraints, have risen above the CFR...
Potential export restrictions and panic buying could push agriculture prices further higher as the...
Japan's largest refiner ENEOS does not plan to sign any Russian crude oil import contracts following Russia's invasion of Ukraine, ENEOS Holdings Chairman Tsutomu Sugimori said March 22.
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`` Following the Ukraine invasion, we have not signed any contracts [ for Russian crude ], '' Sugimori told an online press conference as the president of the Petroleum Association of Japan. `` We do not expect to import [ Russian crude ] for the moment. ''
The move comes at a time when an increasing number of companies are reluctant to take any spot crude and LNG cargoes from Russia amid fear of reputational risk, according to industry sources.
ENEOS, however, will receive a few ships carrying Russian crude cargoes until April from its purchase contracts signed prior to the invasion in February, Sugimori said.
`` Until April, we will receive a few ships under contracts signed prior to the start of the Ukraine invasion in February, '' Sugimori said. `` For these [ cargoes ] we have secured ships, and we will be able to make our payments. ''
Asked about alternative crude supply source, Sugimori said ENEOS would likely secure alternative barrels from the Middle East.
Russia supplied 4% of Japan's total crude oil imports of 2.48 million b/d in 2021, with the Middle East supplying 92% of the total, according to finance ministry data.
Commenting on domestic demand, Sugimori said gasoline demand over February-March had taken a sharper hit from COVID-19 priority measures and rising prices than other refined products.
ENEOS has estimated that Japan's gasoline demand in February fell 4% year on year and was 12% below the pre-pandemic level and in March fell 7% year on year and was 6% below the pre-pandemic level, Sugimori said.
While noting the difficulty in drawing a line between the coronavirus pandemic impact and high prices, Sugimori said: `` After all, [ consumers ] would refrain from buying [ gasoline ] from rising prices, generally speaking. ''
Japan's estimated kerosene demand, however, jumped more than 10% year on year in February and March because of cold weather, Sugimori added.
The country's refiners are required to submit by end March their response to a third round of refining regulations that require refiners to increase processing volumes of vacuum residue by the end of fiscal 2021-22 ( April-March) from baseline average volumes processed over fiscal 2014-15 to fiscal 2016-17.
Asked whether Japanese refiners will be able to meet the requirement despite a significant drop in their refining volumes in the last two years because of the pandemic-led demand slump, Sugimori said: `` It will be difficult to achieve it. ''
`` However, we are in the midst of emergency situations such as the coronavirus pandemic and the Ukraine issues, so that we expect to see some sort of mitigation, '' he added.
The third round of regulations require refiners to achieve a national target vacuum residue ratio -- the daily residual processing volume as a percentage of the daily crude processing volume -- of 7.5% by the end of March 2022.
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Antimicrobials discovered to be inhibited by the presence of multiple pathogens | Hi, what are you looking for?
Co-infections with multiple pathogens are not typically taken into account when calculating antimicrobial dosages – yet understanding this can help in the fight against pathogens.
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The battle against antimicrobial resistant microorganisms continues and one newly identified factor that is affecting the efficacy of antimicrobials is the variety of different bacteria present within a given niche.
The data has been gathered in relation to lung disease. The findings may explain why some patients, such as those with cystic fibrosis who contract a pathogen and require antimicrobials, have hard to treat infections. This could lead to a new focus where microbial interactions need to be considered when considering the type of antimicrobial to use when attempting to treat certain infections.
With the research, microbiologists studied polymicrobial cultures comprised of important cystic fibrosis associated pathogens against species-specific antimicrobial agents. The agents selected were: colistin ( targets the bacterium Pseudomonas aeruginosa), fusidic acid ( which targets Staphylococcus aureus), and fluconazole ( targets the yeast Candida albicans).
By polymicrobial, this refers to diseases where the clinical and pathologic manifestations are induced by the presence of multiple microorganisms.
The scientists found that growth in a polymicrobial environment serves to protect the target microorganism ( by several orders of magnitude) from the effect of the antimicrobial agent. This decreased antimicrobial efficacy was found to have both non-heritable ( physiological) and heritable ( genetic) components.
With lung disease patients who contract infections, the findings indicate that the polymicrobial nature of the cystic fibrosis airways will have a significant impact on the individual patient’ s clinical response to a given antimicrobial therapy.
For example, the antibiotic colistin ( polymyxin E) which usually can destroy colonies of P. aeruginosa, was unable to destroy the mixture of the three microorganisms. Colistin is an antibiotic medication used as a last-resort treatment for multidrug-resistant Gram-negative infections including pneumonia.
According to lead researcher Martin Welch, Professor of Microbial Physiology and Metabolism at the University of Cambridge: “ All three species-specific antibiotics were less effective against their target when three pathogens were present together. ”
It is hoped a new model system can be devised to allow for the effectiveness of potential new antibiotics to be tested against a mixture of microbe species. The results appear inThe ISME Journal. The research paper is titled “ Decreased efficacy of antimicrobial agents in a polymicrobial environment. ”
Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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Pakistan's Khan to trumpet Islamic credentials as home fires burn | Hi, what are you looking for?
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Foreign ministers of Muslim nations gather in Pakistan Tuesday as the country’ s leader trumpets his achievement of getting Islamophobia recognised at the United Nations while at the same time battling the most serious challenge to his rule in four years.
The Organisation of Islamic Cooperation ( OIC) is meeting in Islamabad with an ambitious agenda that seeks approval for over 100 declarations, including aid for financially strapped Afghanistan and support for the Palestinians and Kashmir.
But as officials praise Prime Minister Imran Khan for getting the UN last week to formally recognise Islamophobia as a global threat, the cricket star-turned-politician faces a no-confidence vote in the National Assembly.
In a hectic week on the political front, the country on Wednesday also celebrates Pakistan Day, with a military parade and flypasts.
The theme for the OIC gathering is “ Partnering for Unity, Justice and Development ”, and Khan will deliver the keynote speech that is sure to reference last week’ s UN resolution — a personal bugbear since he became premier in August 2018.
Khan won office through an electorate weary of the two-party dynasties that have dominated Pakistan politics since independence — periods of power punctuated by military coups — but he seems to have lost that support, and perhaps the army too.
“ I think the army leadership must be extremely concerned seeing what is happening on the political scene at the moment, ” said Talat Masood, a retired general-turned-political analyst.
Khan has called for a million of his supporters to rally in the capital next week to put pressure on dozens of National Assembly members who are reported to be considering voting against him.
The leaders of the two main opposition parties have also called for their supporters to gather, prompting authorities to declare most of this week a public holiday in the hope of avoiding conflict — particularly during the OIC meeting.
– ‘ Poorly managed’ –
“ It is dragging the country to chaos, ” Masood said.
“ It seems that the government and opposition parties are on a collision course. They don’ t seem to solve the problems politically, and rather try to show their street power. ”
The no-confidence motion is scheduled to be formally introduced on Friday with a vote next week, but horse-trading is common in Pakistan politics and the rebels could well return to the fold before then.
“ He has managed his own and allied political parties poorly, ” political analyst Hasan Askari Rizvi said of Khan.
“ It was his failure to keep the party and allies together that has brought him to this. ”
Although Pakistan escaped the worst of the Covid-19 epidemic, the economy is in the doldrums with soaring inflation, a feeble rupee, and crippling debt.
The return of the Taliban to power in neighbouring Afghanistan has also provoked a resurgence of militancy in Pakistan — including the bombing of a Shiite mosque in Peshawar last month claimed by the local chapter of Islamic State that killed more than 60 people.
With flaring domestic issues, Khan has tried to position himself on the international stage, but his insistence on continuing with a visit to Moscow last month as Russian troops invaded Ukraine perplexed even his most ardent admirers.
He was also one of the few world leaders to attend the opening of the Beijing Winter Olympics when others boycotted in protest at China’ s human rights record.
There are several scenarios at play for Pakistan this week.
Khan’ s PTI party is pursuing a court case against rebellious members that could force them to follow the whip.
Another tactic is for parties to, quite literally, hold lawmakers hostage and prevent them from voting or having a quorum.
And even if Khan does lose the vote, there will likely be a series of challenges both inside and outside the assembly.
Most of that will be lost on today’ s OIC gathering, which is largely a talking shop that will pass a series of political resolutions.
Key among them is channelling aid to Afghanistan, although any formal recognition of the country’ s new Taliban government remains unlikely.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
Popular payment apps like Zelle have become easy fodder for con artists.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
5 Reasons to invest in fixed deposits | Hi, what are you looking for?
If you choose to invest a part of your earnings regularly, it is the best way to build your capital and earnings in the long run
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This article is Sponsored Content by Bajaj Finserv Direct Limited
If you choose to invest a part of your earnings regularly, it is the best way to build your capital and earnings in the long run. And the best way to start saving is by opening a Fixed Deposit ( FD) as it can help multiply your investment over a span of time. Moreover, a FD can help you in several ways by meeting your financial goals and targets, and keeping your future secure.
When it comes to Fixed Deposits, here are five substantial reasons why you should invest in a FD:
1. Security
Fixed deposits are backed by the government and hence come with almost zero risks. Unlike other instruments that are unpredictable in nature and can be affected by the existing economic situation, FD’ s work differently. The main differentiating factor between the two is that FD’ s are secure and safe even if the market conditions are unstable. Thus, you can focus on building your financial and business goals as your savings are secure in a FD.
2. Returns
Another benefit of a FD is that it provides a guaranteed rate of return. While preparing a FD, you are already aware of the term and maturity amount at the end of the specified period. Your financial investment portfolio will benefit from the guaranteed principal amount and accrued interest, enabling you to plan for the long run.
3. Liquidity
Unlike other investment instruments, a Fixed Deposit can be withdrawn as and when required. You can undoubtedly withdraw funds even before maturity for which a penalty may be charged by the bank. Even then, you always have a fixed sum of money to rely on during a crisis situation or in times of difficulty
4. Flexibility
Fixed Deposits come with complete flexibility when it concerns the term of the investment. A customer can choose any time period that could range anything from a week to 10 years. Further, you have the flexibility to break it completely or partially, whenever required
5. Easy to Invest and payout
It is extremely simple to deposit in a Fixed Deposit without any hassles. All a customer would need to do is submit an application form with the payment amount. There is an option to open it online with just a click of a button via net banking or you can visit the nearest branch and submit the required documents. As a customer, you also have the option to invest in multiple FD’ s by electing for a multi-deposit facility.
Closing Remarks
While there is a lot that has been said about this traditional investment tool, it stands as one of the smartest choices that need to be in your investment kitty. In addition to all this, there are several other benefits of investing in FD’ s like the loan facilities that give you easier access to funds at the time of emergencies when you are looking for security and safe returns. Moreover, the immense benefits and comforts offered make it a universal choice of investment for every investor to build their capital.
Content written by Digital Journal sponsors.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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Biden Europe trip targets Western unity, tighter Russia sanctions | Hi, what are you looking for?
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President Joe Biden is seeking to reinforce Western unity at a series of summits in Europe this week where new sanctions will be announced against Russia over its war in Ukraine, a top US official said Tuesday.
Biden leaves Wednesday for Brussels a day ahead of summits with NATO and the European Council, then a trip to Poland on Friday for a meeting with President Andrzej Duda the following day.
The intense diplomacy marks a crucial moment in the dangerous standoff between a newly reinvigorated transatlantic alliance and President Vladimir Putin, who a month ago sent the Russian army pouring into pro-Western Ukraine to try and upend the balance of European power.
White House National Security Advisor Jake Sullivan told reporters that Biden will seek to “ reinforce the incredible unity we built with allies and partners. ”
He also said that unprecedented economic sanctions aimed at crippling Russia’ s finances would be deepened.
A further package will be “ rolled out in conjunction with our allies on Thursday, ” Sullivan said. He gave no details, other than to say the package “ will focus not just on adding new sanctions but on ensuring that there is joint effort to crack down on evasion on sanctions. ”
Another big topic looming for the Western alliance is how to manage China, the world’ s second biggest economy and an authoritarian partner of Russia.
Beijing has refused to condemn Putin’ s war or support Western sanctions. So far, Washington’ s main goal has been to ensure the Chinese do not actively intervene on the Kremlin’ s side, either by bailing out the Russian economy or even sending weapons.
Sullivan said there was no sign that China was providing military assistance in the wake of a nearly two-hour phone call between President Xi Jinping and Biden last Friday.
“ This is something we are monitoring closely, ” he said.
– ‘ Hard days ahead’ –
“ The president will certainly consult on the question of China’ s potential participation in the conflict of Ukraine while he’ s in Brussels. He’ ll do so at NATO, ” Sullivan said.
“ He’ ll also do so when he addresses the 27 leaders of the European Union, because on April 1st, the European Union is having a summit with China, ” he added.
“ We believe we’ re very much on the same page with our European partners. ”
Although Western-armed Ukrainian forces are successfully resisting much of the Russian onslaught, Sullivan warned against any presumption of a quick end to the war or a climbdown by Moscow.
“ There will be hard days ahead in Ukraine, hardest for the Ukrainian troops on the frontlines and the civilians under Russian bombardment, ” he said. “ This war will not end easily or rapidly. ”
In a wrinkle for Biden’ s travel plans, his chief spokeswoman, Jen Psaki, will have to stay home because of a positive Covid-19 test announced Tuesday.
The White House press secretary said she had held two socially-distanced meetings with Biden, who is vaccinated, a day earlier.
However, “ the president tested negative today via PCR test, ” Psaki said in a statement, adding that Biden, 79, is “ not considered a close contact ” as defined by the top US health agency.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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China blue chips lose ground on hawkish Fed; domestic easing awaited | - Chinese blue chips closed marginally lower in choppy trade on Tuesday, as investors weighed hawkish comments from U.S. Federal Reserve Chairman Jerome Powell, while waiting for domestic policymakers to follow through on easing measures.
* * At the close, the CSI300 index was 0.08% lower at 4,255.30, having swung between small gains and losses throughout the day.
* * The Shanghai Composite Index finished 0.18% higher at 3,259.86.
* * China will give nearly 1 trillion yuan ( $ 157 billion) in tax rebates to domestic small firms to shore up economic stability, state media CCTV quoted a cabinet meeting as saying on Monday.
* * The meeting, chaired by Premier Li Keqiang, also said China would take targeted measures to boost market confidence and keep capital market development stable and healthy.
* * Weighing on investor sentiment, Powell on Monday flagged a more aggressive tightening of monetary policy than previously anticipated, while peace negotiations between Russia and Ukraine were marked by slow progress.
* * Shanghai-listed shares of China Eastern Airlines closed 6.15% lower, while those in Hong Kong were down 3.6%, after a Boeing 737-800 operated by the company with 132 people on board crashed in southern China on Monday.
* * The crash also sent tourism stocks down by 1.83%. The sector has already been hit by surging domestic COVID-19 cases.
* * Mainland China reported 2,338 confirmed coronavirus cases for March 21, compared with 2,027 a day earlier.
* * The smaller Shenzhen index ended down 0.61% and the start-up board ChiNext Composite index was weaker by 1.392%.
* * However, financials climbed 1.5% and real estate developers jumped 3.89% even as China Evergrande Group said it would not be able to publish its financial results for last year by March 31 as required by stock listing rules.
* * Around 0700 GMT, the yuan was quoted at 6.3638 per U.S. dollar, 0.11% weaker than the previous close of 6.3568. ( Reporting by Jason Xue and Andrew Galbraith; Editing by Subhranshu Sahu) | business |
UN chief calls Russia-Ukraine war 'unwinnable ' | Hi, what are you looking for?
UN chief Antonio Guterres said Tuesday that it was time for Russia to end their “ absurd war ” in Ukraine.
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UN chief Antonio Guterres said Tuesday that it was time for Russia to end their “ absurd war ” in Ukraine, declaring the conflict “ unwinnable. ”
The Secretary General told reporters at the world body’ s headquarters in New York that the war “ is going nowhere, fast. ”
“ For more than two weeks, Mariupol has been encircled by the Russian army and relentlessly bombed, shelled and attacked. For what? ” he said.
“ Even if Mariupol falls, Ukraine can not be conquered city by city, street by street, house by house. ”
Guterres added that “ the only outcome ” to more fighting was “ more suffering, more destruction, and more horror as far as the eye can see. ”
Negotiators from Moscow and Kyiv have held ongoing talks aimed at ending nearly four weeks of fierce fighting, but have failed to announce any progress so far.
Guterres said though that he believed diplomatic negotiations to bring a halt to fighting were making headway.
“ There is enough on the table to cease hostilities now and seriously negotiate now.
“ This war is unwinnable. Sooner or later, it will have to move from the battlefield to the peace table. That is inevitable, ” he added.
The UN General Assembly is due to reconvene a special emergency session on Ukraine on Wednesday and hold a vote this week on a non-binding French and Mexican resolution condemning Russia’ s invasion.
Earlier this month, 141 out of 193 United Nations member states supported a similar resolution.
The vote will indicate whether Russia has lost or gained any support over its actions since that vote on March 2.
South Africa, which abstained last time around, has circulated a rival draft resolution which calls for an end to hostilities but makes no mention of Russia as the aggressor.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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Elon Musk to hand over first 'made in Germany ' Teslas | Hi, what are you looking for?
CEO Elon Musk flying in to present customers with the first Model Y vehicles made in Europe.
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US electric car pioneer Tesla will on Tuesday inaugurate its new “ gigafactory ” near Berlin, with CEO Elon Musk flying in to present customers with the first Model Y vehicles made in Europe.
“ Excited to hand over the first production cars made by Giga Berlin-Brandenburg tomorrow! ” Musk tweeted on the eve of the red ribbon ceremony.
The opening caps an arduous two-year approval and construction process that saw Tesla run into a series of administrative and legal hurdles, including complaints from locals about the site’ s environmental impact.
Having started construction at its own risk, Tesla finally won the formal go-ahead from regional authorities to begin production earlier this month.
The “ gigafactory ” in Gruenheide, in Germany’ s eastern state of Brandenburg, is Tesla’ s first production site in Europe, and local officials are hoping it will help the region position itself as a hub for electric vehicle production.
Tesla aims to eventually employ some 12,000 workers at the site who will churn out around 500,000 Model Y cars annually.
The first 30 of the all-electric, compact SUVs to roll off the assembly line will be delivered to customers during Tuesday’ s ceremony.
German Chancellor Olaf Scholz and Economy Minister Robert Habeck will also be in attendance.
Tesla’ s arrival is likely to jolt Germany’ s flagship auto industry, setting the stage for fierce competition with rivals Volkswagen, BMW and Mercedes-Benz as they pivot from traditional engines to cleaner electric vehicles.
Tesla’ s focus on Europe comes as the continent grapples with sky-high energy costs that have sent petrol prices soaring, prompting drivers to take a closer look at electric alternatives.
The “ gigafactory ” near Berlin is “ one of the biggest strategic endeavours for Tesla over the last decade and should further vault its market share within Europe over the coming years as more consumers aggressively head down the EV path, ” analysts at investment firm Wedbush said.
But as with other carmakers, shortages of raw materials and supply chain disruptions linked in part to Russia’ s invasion of Ukraine are weighing on Tesla.
Musk said last week that the company was facing “ significant recent inflation pressure ”.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
The absence of key COVID metrics could leave CDC unable to track a resurgence | Hi, what are you looking for?
Data metrics is critical in generating guidance by the CDC in effectively responding to COVID-19.
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Health experts are concerned that dwindling access to public data, the shuttering of COVID-19 testing sites, and an increasing number of people using at-home tests instead, could leave the nation vulnerable to an unforeseen resurgence in the virus.
The Centers for Disease Control and Prevention ( CDC) is the federal agency that compiles all the data generated during the past two years of the Coronavirus pandemic, but on its own, the CDC does not have the authority to collect that data.
Under the public health emergency first declared by the Trump administration in 2020, the federal government was able to access an array of funds and authorities to curb outbreaks. The declaration, which must be renewed every 90 days, was last extended in mid-January.
That includes the power Congress gave the federal government in the CARES Act to compel laboratories to report COVID-19 test results “ until the end of the Secretary’ s Public Health Emergency declaration with respect to COVID-19 or any extension of such declaration. ”
So, to the casual observer, the guidance generated by the CDC and other state and local health agencies is important to effectively respond to the pandemic.
“ Comprehensive case data is critical to an effective response. As we have seen throughout the pandemic, lack of data leads to poor decision making and ultimately costs lives, ” Dr. John Brownstein, an epidemiologist at Boston Children’ s Hospital and an ABC News contributor, said.
However, since last summer, dozens of states and federal agencies have opted to scale back on regular data reporting. Only a few states still offer COVID-19 data reports seven days a week, with most now moving to weekly or alternate-day schedules.
Added to this lack of data, the country has just begun to come out of a surge in cases caused by the Omicron variant, even as a new variant – BA.2 – is beginning to spread across the country.
Vaccination rates in the U.S. have begun to stagnate, with fewer than 66 percent of the population fully vaccinated and fewer than half of adults in the United States having received boosters.
We need to track this virus
And through all this, the American pandemic response has also been faulted for an at times laggard pace at tracking and analyzing the spread of the virus compared to its counterparts abroad.
Surprisingly, the biggest question on the public’ s mind is when the pandemic will become an endemic or regularly recurring virus, like seasonal influenza. Yet, the scientific community does not yet know what an endemic level of infections for COVID-19 looks like.
“ We can’ t return to the world as it was before the pandemic, but there are concrete, measurable ways we can forge ahead and begin to understand this disease as just another seasonal virus, ” Dr. Ezekiel Emanuel, vice provost for global initiatives at the University of Pennsylvania, said in a statement earlier this month.
Emanuel coordinated the 136-page “ A Roadmap for Living with COVID ” report earlier this month, which was co-authored by several health experts who had served as top outside COVID-19 advisers to Biden’ s team.
One of the most important recommendations in the report was for policymakers to build “ a secure, standardized, and real-time national data platform for SARS-CoV-2 and other health threats ” and mandate state reporting.
Bottom line? Without clear, concise, and consistent reporting of relevant data on the coronavirus, the U.S. is flying blind, and more so when the public health declaration lapses. When that happens, the CDC will no longer have access to many key data metrics.
“ System-wide modernization and change to benefit all of public health require CDC to have the authority to coordinate and guide how data are reported and shared for evidence-based decision-making, ” the CDC representative said. “ The nation can no longer continue with the current, fractured approach of collecting public health data to be better prepared for future pandemics. ”
Karen Graham is Digital Journal's Editor-at-Large for environmental news. Karen's view of what is happening in our world is colored by her love of history and how the past influences events taking place today. Her belief in man's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, `` Journalism is merely history's first draft. '' Everyone who writes about what is happening today is indeed, writing a small part of our history.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Popular payment apps like Zelle have become easy fodder for con artists.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
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Exclusive Interview with Issac Brodsky, Principal Engineer at Foursquare | Join Our Telegram Channel for More Insights. Join
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For modern businesses, improving customer experiences is one of the major goals. Use of AI and ML in the exploration of customer behavior on the basis of location and knowledge of how people interact. Foursquare understands movement and places, which helps it learn what people want to experience, buy, and where they want to go. Analytics Insight has engaged in an exclusive interview with Issac Brodsky, Principal Engineer at Foursquare
Foursquare understands movement and places, which helps us learn what people want to experience, buy, and where they want to go. As a leader in the geo-location space, our tech stack uses the power of location and knowledge of how people interact with it to improve customer experiences and drive better business outcomes.
Foursquare provides tools like Places API, and Pilgrim SDK as well as Unfolded and Hex Tiles, both of which are part of the larger Unfolded Studio and SDKs family. I came to Foursquare in 2021 when it acquired Unfolded, which I co-founded back in 2019. I came at the right time, too. With the economy coming out of the pandemic, consumer behaviors have changed dramatically. Companies need Foursquare to help them figure out what those changes were and how they need to adjust to them.
We are the largest independent location technology company and location data is our only business. We base our work on reliable data, from 500 million devices, 13 billion verified place visits and over 100 million distinct places.
Two tools that are prime examples of how we are contributing to the machine learning and artificial intelligence spaces are Hex Tiles, a next-generation tiling system that can have large-scale spatial data prepped and ready for analytics in minutes, and Pilgrim SDK, which creates timely, context-driven app experiences that drive engagement and revenue.
Our value is more than data collection, however, and more in making sense of all of it. For instance, Pilgrim Snap-to-Place, a core part of Pilgrim SDK’ s visit detection technology, uses machine learning to passively identify when someone has visited a place, allowing developers to pinpoint when a user has visited a specific venue. For instance, in a large shopping mall, this technology can be used to identify which individual store was visited. Or, on a busy main street, to differentiate whether someone stopped at a stoplight outside of the store, or physically went inside. These differences are critical for business decision-makers.
Leading brands including Apple, AirBnB, Twitter, Uber, Snapchat, and Coca-Cola use our data and technology to make decisions on everything from store locations and product offerings to employee schedules and marketing spending.
Data analytics, when used and interpreted correctly, has an enormous return on investment. It is a powerful tool for strategic business decision-making. People live and work in the physical world, and companies need to understand how. For example, retail chains might need to understand how COVID-19 related lockdowns affected traffic patterns to their physical locations in cities with the tightest restrictions. To do this, they need to present massive amounts of data simply enough that a non-data scientist can understand. This data is used for everything from site selection to competitive analysis. Tools like Hex Tiles and our Unfolded Studio make that possible. Unfolded is a geospatial visualization and analytics platform built on leading open source technologies, and Hex Tiles is a tool used within the Unfolded platform used for performing large-scale geospatial data visualization and analytics. Both help data scientists extract tangible insights that business decision-makers can act on.
At Foursquare, every one of our products helps customers uncover patterns using our powerful analytics capabilities. I have spent my entire career working with geospatial data. First at Uber, then Unfolded and now at Foursquare, deriving powerful insights that enable data analysts to work more efficiently has been a priority.
Foursquare has been a location data company since its inception. That journey has included the rollout of improved versions of our API and SDK, continued work on our first and third party data panels, the development of new tools for marketers, data scientists, and developers, the pioneering of the use of location data for business intelligence, acquisitions and mergers, and much more.
Our customers vary across industries, but they all have one thing in common: they are data-driven organizations. Foursquare provides accurate location intelligence grounded in first party data and trusted tools such as SDKs, APIs, and dashboards for marketers, data scientists, data analysts, and program managers alike.
Most recently, we launched Hex Tiles. I have been working on this project since we started Unfolded and am very proud and excited to see it in the marketplace for our customers to use.
In short, Hex Tiles is a next-generation location data system that gives data scientists the ability to easily unify diverse spatial datasets, conduct on-the-fly analytics, and quickly visualize and explore big data on a planetary scale. Hex Tiles can do it all in a matter of minutes, within the browser through Foursquare’ s Unfolded Platform. Hex Tiles can transfer large-scale geospatial data over the web in a tiled, tabular, gridded format, meaning only the data needed is brought to the browser, the right data needed for analysis can be brought in, and the data is already in the right form for geospatial analytics. Best of all, anyone can visualize and explore planetary-scale datasets fluidly and in crisp detail without coding. By using Hex Tiles, you can process geospatial data in parallel, giving it the ability to support visualization and fluid exploration of data at interactive speeds. You can easily work with any area of interest on the map without concerns about the size of your data.
Many thought that COVID would lessen the need for location data, given restrictions and lockdowns. Instead, it did the opposite. People looked to location data to help them understand COVID’ s impact – whether through public dashboards that showed the number of cases in their local area or businesses trying to understand changes in foot traffic. And now we’ re all yearning for those real-world experiences again. Moreover, we’ re yearning for new experiences, and, now that we’ re going out again, our lives will have whole new patterns.
As companies uncover these new patterns, our location technology software offerings will enable them to quickly and nimbly act on their own data. Foursquare’ s job, then, is to understand how people’ s behaviors are changing. We want to be the first place businesses think of when they need more data, and when they need the tools to understand what the data is telling them. Our products moving forward will solve that huge question hanging over nearly every company.
In my day-to-day work, this translates to a continued focus on our next-generation tiling system, Hex Tiles. Hex Tiles will be integral as companies and organizations continue trying to understand how people live and work in the world now. We truly believe that this will revolutionize the lives of data scientists around the world. What used to take days can now take minutes with Hex Tiles, and the opportunities for robust analysis are endless. We can’ t wait to see what our customers can create with Hex Tiles as a resource at their fingertips.
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Theranos deputy's fraud trial opens in Silicon Valley | Hi, what are you looking for?
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A top aide and ex-boyfriend of fallen Theranos founder Elizabeth Holmes went on trial Tuesday in California, with prosecutors arguing Ramesh “ Sunny ” Balwani was equally responsible for the massive fraud at the startup.
Holmes was convicted last year of defrauding investors in the blood testing company once hailed as revolutionary and valued in the billions of dollars, but which collapsed under claims its technology did not work as promised.
US prosecutor Robert Leach told jurors in a federal courthouse in San Jose, the heart of Silicon Valley, that the pair shared responsibility for the firm’ s operations.
“ The evidence will show that they ran the company together. You will see how they were partners in everything, including their crime, ” Leach said in his opening arguments.
“ Balwani had no medical degree, no experience building medical devices. What he did have was a connection to Elizabeth Holmes. Mr Balwani was her romantic partner, ” he added.
Balwani, nearly two decades Holmes’ s senior, was brought in to help run the company she had founded in 2003 at age 19. He has pleaded not guilty.
Holmes, now 38, would eventually promise self-service testing machines that could run an analytical gamut cheaply and on just a few drops of blood — a pledge shattered under fraud allegations.
Prosecutors alleged she knew the technology did not work as advertised, but continued to promote it as revolutionary to patients and the investors who poured money into the company.
As Theranos soared, it attracted luminaries such as Rupert Murdoch and Henry Kissinger, but a series of reports casting doubt on the firm’ s claims from Murdoch’ s own Wall Street Journal set the company’ s collapse in motion.
The paper’ s series of stories raising questions about the much-hyped technology heralded the beginning of the end for Theranos.
Holmes was convicted in January after a high-profile trial, and now faces the possibility of a prison term when she is sentenced at a hearing set for September.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
LME aluminium rises as Russia-Ukraine war stokes supply woes | London aluminium prices edged higher on Tuesday, supported by jitters over supply disruption as ceasefire talks between Russia and Ukraine showed no sign of progress, while investors weighed the fallout from record coronavirus cases in top consumer China.
Three-month aluminium on the London Metal Exchange ( LME) was up 0.3% at $ 3,532 a tonne, as of 0515 GMT, hovering close to a near two-week high scaled on Monday.
The most-traded May aluminium contract on the Shanghai Futures Exchange eased 0.3% to 22,950 yuan ( $ 3,608.32) a tonne.
`` The world is trying to adapt and learn how to accept COVID as part of daily life, and a great example of that is Xi Jinping's request to tackle COVID with minimal disruption to the economy and society in general, '' said Matt Simpson, senior market analyst at City Index.
`` The war in Ukraine remains a key pillar of support for metals and has arguably contributed to the bulk of volatility in recent weeks. ''
China's financial hub Shanghai on Tuesday reported a fifth consecutive daily record for locally transmitted COVID-19 asymptomatic cases.
Exacerbating aluminium supply concerns was Australia's export ban of alumina and aluminium ores to Russia as part of its sanctions against Moscow, while Germany-based TRIMET is also due to cut aluminium production at Essen facility by 50% due to higher energy prices.
Ukrainian President Volodymyr Zelenskiy said on Monday that it would not be possible to negotiate an end to the war without meeting Kremlin leader Vladimir Putin, while the conflict continued for a fourth week.
`` World ex-China output is already struggling, and further supply losses are raising prospects for a wider deficit, '' analysts at ANZ said in a note.
Stocks of aluminium in LME-registered warehouses < MALSTX-TOTAL > were at 704,850 tonnes, its lowest level since 2007. Inventories in Shanghai exchange warehouses < AL-STX-SGH > fell 4.2% to 333,823 tonnes last week.
FUNDAMENTALS
* LME copper fell 0.5% to $ 10,240 a tonne, lead rose 0.4% to $ 2,267, zinc was 0.8% lower at $ 3,907 and tin was up 0.6% at $ 42,005.
* ShFE copper edged 0.1% higher to 73,220 yuan a tonne, lead was flat 15,255 yuan, zinc rose 1.1% to 25,650 yuan and tin fell 0.9% to 339,100 yuan. The most-traded August nickel contract fell 2.1% to 198,050 yuan a tonne.
* The global nickel market saw a surplus of 6,000 tonnes in January compared with a deficit of 5,300 tonnes in the same period last year, data from the International Nickel Study Group showed on Monday.
* Global primary aluminium output fell to 5.114 million tonnes in February from 5.236 million in the same month in 2021, data from the International Aluminium Institute showed.
* For the top stories in metals and other news, click or
( $ 1 = 6.3603 Chinese yuan) ( Reporting by Eileen Soreng in Bengaluru; Editing by Sherry Jacob-Phillips) | business |
Doctor on call: Variable medical support patterns across the U.S. revealed | Hi, what are you looking for?
The distribution of medics across the USA is highly variable – we profile the patterns.
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The sign of a progressive society is often attributed to its health system. There are different measures of the success of a health system; one potential means is the proportion of doctors within a population or territory.
To mark National Doctors’ Day, which is held in the U.S. on March 30th, the personal-finance website WalletHub has released a report on 2022’ s Best & Worst States for Doctors. This is provided state-by-state.
To identify the best states for those in the business of saving lives, WalletHub compared the 50 states and the District of Columbia across 19 key metrics. The data set ranges from the average annual wage of physicians to hospitals per capita to the quality of the public hospital system.
The outcome of the analysis was with the best ten states for doctors:
1. South Dakota
2. Minnesota
3. Wisconsin
4. Montana
5. Idaho
6. Iowa
7. Nebraska
8. Kansas
9. North Dakota
10. Mississippi
In contrast, the most poorly served areas for medics were identified as:
42. Oregon
43. Massachusetts
44. Vermont
45. Hawaii
46. Alaska
47. New Jersey
48. Delaware
49. District of Columbia
50. New York
51. Rhode Island
Within the 51 territories, there were some interesting variations. For example, with pay rates for medics ( which is a factor for attracting doctors to take up residency within a state), Mississippi has the highest average annual wage for surgeons ( adjusted for cost of living) at $ 320,629. This figure is which is 1.9 times higher than in California, which pays physicians the lowest, at $ 168,876.
In terms of the numbers of available medics, Mississippi has the lowest number of physicians per 1,000 residents, 1.2. This correlates with the wage rate, showing how the market is influenced by demand. The numbers employed in Mississippi are 4.7 times lower than in the District of Columbia, which has the highest rate of employment at 5.9 per 1000 people.
Given that seniors often need more care and support, Florida has the highest projected share of the population aged 65 and older by 2030 at 27 percent, which is two times higher than in Utah, the lowest at 13 percent.
Another measure used to assess overall medical support is the suitability of the personal care received. Here, Nebraska has the lowest annual malpractice liability insurance rate at $ 4,530. This is 8.1 times lower than in New York, which stands at the highest at $ 36,659.
Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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No deal to end US-UK metals spat but talks continue | Hi, what are you looking for?
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The top trade envoys of the United States and Britain have not reached an agreement to end a dispute over metals tariffs, but vowed on Tuesday to keep negotiating.
Following two days of talks with US Trade Representative Katherine Tai in the port city of Baltimore, British International Trade Secretary Anne-Marie Trevelyan said she would head to Washington to meet with Commerce Secretary Gina Raimondo as the major trading partners look to put their trade spat to rest.
“ I’ ll be going from here back to DC to meet with Secretary Raimondo, so we can continue our discussions which we started in late January, ” Trevelyan told reporters, adding “ I hope we’ ll be able to make progress today. ”
The two countries had in January announced the beginning of negotiations to end the dispute over metals tariffs, which began in 2018 when then-president Donald Trump imposed levies of 25 percent on steel and 10 percent on aluminum from Britain, among other nations.
Trump had cited national security concerns in imposing the tariffs, which worsened relations with major US allies.
Under Trump’ s successor President Joe Biden, Washington in October reached a deal to end the tariffs on the European Union, and in early February did the same with Japan.
Trevalyan and Tai said they would continue their talks next month in Scotland.
There was however no indication of progress in the talks towards a free trade agreement between the two countries — a priority of Britain following its departure from the European Union.
“ There was no discussion yesterday of a return to the ( free trade agreement) negotiating table, ” according to Marjorie Chorlins, senior vice president for European Affairs at the US Chamber of Commerce, who took part in Monday’ s talks.
“ On the contrary, I think the message that was clearly conveyed was a desire, short of coming back to the table, ( of) finding creative ways to make improvements in the relationship, ” she told reporters.
“ I don’ t think it’ s going to be by a ( free trade agreement), at least not anytime soon. ”
Trump officials seemed ready to make a new bilateral arrangement with London and had even opened negotiations, but the Biden administration has shown little indication of wanting to continue them.
Chorlins was however more optimistic about resolving the metals dispute, saying the “ two sides have been negotiating very aggressively ” to reach an agreement.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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Lower 48 Oil, Natural Gas Permitting Climbs in February, Led by Permian, DJ and Eagle Ford | Sign in to get the best natural gas news and data. Follow the topics you want and receive the daily emails.
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Lower 48 oil and natural gas permitting activity has picked up since the beginning of the year, climbing by 9% through February from a year ago, according to Evercore ISI.
There were 188 more permits issued in February month/month ( m/m). However, permitting was still down by half from February 2019, on the cusp of the Covid-19 pandemic.
Drilling permits issued in January and February combined were up 50% from the first two months of 2021, analysts said.
“ While permitting may inflect significantly higher near-term, recent declarations from President Biden suggest the government is reluctant to expedite this process, even in light of current geopolitical uncertainty, ” Evercore analysts noted.
Evercore uses state and federal data to compile its monthly permitting report. Permits usually are obtained a few months before drilling begins.
February permits eclipsed year-ago levels by more than 24% and were 15% higher than in February 2020, according to analysts. However, last month’ s permitting levels were 44% below February 2019.
More permits to drill were sought in the Denver-Julesburg ( DJ) Basin/Niobrara formation of Colorado during February, rising by 228 m/m, or 472% higher than in January. Eagle Ford Shale permitting in South Texas increased by 91 last month, a 40% gain from January.
The gains in the DJ and Eagle Ford helped to offset permitting losses in the Powder River Basin, which saw 147 fewer requests than in January, or down by 46% m/m, the data indicated.
“ Milder decreases ” were also reported across the Haynesville Shale, down 33 permits m/m in February, or 24% lower. The Barnett Shale’ s permit requests fell by 24 from January, down 31%. Permitting in the Marcellus Shale also was down by 20 from January, 18% lower m/m.
However, the declines in those basins “ were offset by strong permitting activity in smaller basins, ” according to Evercore. Permitting rose by 85 overall, or 63% from January, analysts said.
As it has for several years now, the Permian Basin was the region with the most permits issued in February at 37%, according to Evercore. The Eagle Ford constituted 13% of the permitting activity while the DJ was at 12%.
“ Robust activity ” in Colorado overall, which includes the DJ/Niobrara, rose by 264 permits in February, or 1,553% higher than in January. That covered for a “ rough month in Wyoming, ” where Evercore reported permitting down by 165 m/m or off 45%.
[ Need Shale prices? Check out NGI’ s Shale Daily natural gas prices at 21 locations spanning 16 plays, including the Marcellus, Permian and Bakken, and everywhere in between. ]
Last month “ was Colorado’ s highest permit count since May 2019, when the state passed a bill to reform the local oil and gas commission and enact stronger regulations, ” analysts noted.
“ Wyoming, on the other hand, reported a significant 631 m/m increase in permitting activity in July 2021, which steadily collapsed as February represented an eight-month low. ”
Meanwhile, permitting levels rose m/m in California by 54%, or 50, and Texas recorded a 4% m/m increase, or 41 more permits than in January.
The gains were partially offset by permit declines in West Virginia, off 71% m/m, or down by 29, and New Mexico, with a 12% decline or 16 fewer permits m/m.
Permitting in the Bakken Shale of North Dakota fell by 14% m/m, to 31 in February from 36 in January, according to Evercore.
North Dakota producers are facing multiple roadblocks to increasing output amid a historically tight global oil market, the state’ s top regulator said earlier this month.
North Dakota Department of Mineral Resources director Lynn Helms in his monthly press briefing said, “ I would say the No. 1 reason that it will take so long to ramp up U.S. production is going to be workforce.
“ The supply chain is badly broken. The workforce isn’ t there. ” Labor shortages and a shortfall in critical materials such as fracturing sand, are preventing a rapid supply response as storage and drilled but uncompleted well inventories continue to draw down, he said.
The No. 2 cause, Helms said, is that “ people are really unwilling to take the risk of massive investment at this point in an industry ” that climate hawks say must wind down substantially by 2050.
In their note, Evercore analysts said the U.S. Bureau of Labor Statistics reported a monthly increase in jobs during February in mining support activity, a proxy for oilfield services, and natural gas extraction.
“ Mining support employment increased 2.5% last month and now represents a 20.7% increase on a year/year basis, ” said Evercore analysts. “ Similarly, oil and gas extraction, ” i.e. exploration and production, “ employment increased 1.9% in February and is up 13.5% on a year/year basis. ”
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Debt-ridden Evergrande urges investor 'caution ' as audit result delayed | Hi, what are you looking for?
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Debt-ridden Chinese property developer giant Evergrande on Tuesday warned investors to “ exercise caution ” as the group announced it would delay the release of the results of a 2021 audit a day after halting trade in Hong Kong.
Beijing’ s drive to curb excessive debt in the real estate sector has embroiled Evergrande, one of the country’ s largest developers, which has struggled after racking up $ 300 billion in liabilities.
On Tuesday, a day after the company announced a halt in trading, it said it would not be able to publish its 2021 audited results by the end of the March as Hong Kong’ s listing rules require.
“ Due to the drastic changes in the operational environment of the Company since the second half of last year… coupled with the effect caused by the Covid-19 outbreak… the Company will not be able to complete the audit procedures on time, ” it said in an announcement posted on Hong Kong Stock Exchange.
Suspension of its shares’ trading will remain in force until the financial information is published, according to the market’ s rules.
The suspension is the second this year, and it comes ahead of an expected $ 2 billion repayment obligation on Wednesday and another next month of $ 1.4 billion.
In a separate announcement Tuesday, Evergrande urged investors to exercise caution “ in view of the operational and financial challenges the group is facing and in particular the debt pressure it is experiencing ”.
The company’ s subsidiary Evergrande Property Services also halted trading on Monday after announcing that banks had enforced deposits of approximately 13.4 billion yuan ( $ 2.1 billion) as security for third party pledge guarantees.
The company has repeatedly said it will finish its projects and deliver them to buyers in a desperate bid to salvage its debts.
Earlier struggles to pay suppliers and contractors due to the crisis led to protests from homebuyers and investors at the group’ s Shenzhen headquarters in September.
Evergrande’ s woes have had knock-on effects throughout China’ s property sector, with some smaller firms also defaulting on loans and others struggling to find enough cash.
The International Monetary Fund warned in late January that the property funding crisis could have spillover effects on the broader economy and global markets.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The dangers facing America's homeless were highlighted earlier this month when a man murdered two homeless men.
Kyiv is a ghost town - Copyright AFP Pascal POCHARD-CASABIANCAHervé BARFilled with mountains of sandbags and weapons at the ready, Kyiv is waiting. On...
Philippine social media has exploded with support for presidential election favourite Ferdinand Marcos Junior, driven by a misinformation campaign.
Canada's chief of the defense staff, General Wayne Eyre, has warned that `` much more effort '' is needed to bolster domestic security.
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Hong Kong's top scientists urge shift from Beijing's zero-Covid | Hi, what are you looking for?
Hong Kong used strict travel curbs to keep the virus at bay for two years but these left Asia’ s world city increasingly isolated.
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Hong Kong’ s top scientists urged the government on Tuesday to transition from China’ s zero-Covid strategy before the next outbreak unless the financial hub wants to be a “ closed port forever ”.
Hong Kong used strict travel curbs to keep the virus at bay for two years but these left Asia’ s world city increasingly isolated and a deadly Omicron outbreak since January has led to an exodus of residents and businesses fleeing its mounting list of restrictions.
The massive surge in cases has ravaged the city’ s healthcare system and left it with one of the highest Covid-19 fatality rates in the developed world, with the government facing criticism for failing to vaccinate its elderly population in time.
On Monday, Hong Kong’ s leader Carrie Lam announced easing travel restrictions in April, but the government did not provide a comprehensive roadmap out of the crisis beyond reducing quarantine periods for inbound travellers and opening flight paths.
“ The past two months were a very painful experience of loss for us and it does not allow us to wait, ” top epidemiologist Gabriel Leung, who leads a team of scientists working on the virus, told reporters on Tuesday.
Scientists estimate that around 4.4 million people in densely populated Hong Kong — or 60 percent of the population — have been infected so far during the Omicron wave.
Official figures have clocked over a million cases and nearly 6,000 deaths since January — primarily among the unvaccinated elderly population.
Leung, dean of the University of Hong Kong’ s medical school and a government expert frequently cited by Lam, stressed the importance of getting vaccinated and boosted while saying Hong Kong must begin living with the virus unless it “ remains a closed port forever. ”
He added that endemicity is the “ safest road because we do not know if the next new variant is weaker or stronger than those we have seen ”.
In line with China, where a zero-Covid strategy has seen snap lockdowns imposed on millions of residents after even a handful of cases are detected, Hong Kong has maintained some of the world’ s toughest pandemic restrictions.
Beijing began remoulding Hong Kong in its own authoritarian image following massive and sometimes violent pro-democracy protests in 2019, instituting a sweeping national security law to crush dissent.
A move away from a zero-tolerance strategy would mean diverging from China’ s path.
Last week, President Xi Jinping urged China to “ stick to ” zero-Covid even as several cities forced tens of millions of residents to stay in their homes with cases rising to their highest number since the early days of the pandemic.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
Popular payment apps like Zelle have become easy fodder for con artists.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
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Canadian Pacific trains at standstill in labor dispute | Hi, what are you looking for?
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Canadian authorities Monday called on railway giant Canadian Pacific to put an end to a labor dispute that has put all the firm’ s trains out of action, snarling supply chains and worrying the agricultural sector.
After months of negotiations over salaries, benefits and pensions, Canadian Pacific ( CP) management and the Teamsters union have failed to reach an agreement.
Canadian Labor Minister Seamus O’ Regan in a tweet Monday expressed “ faith in their ability to reach an agreement ” in ongoing negotiations, but added that “ Canadians expect them to do that ASAP. ”
The labor dispute has hit a supply chain already in distress after two years of the Covid-19 pandemic, devastating floods in the west of the country at the end of 2021 and a meteoric rise in fuel prices.
“ This is the last thing we need right now, ” said Erin Gowriluk, executive director of the Grain Growers of Canada, an association of 65,000 farmers that is calling on the government of Justin Trudeau to intervene.
“ We need to see the trains continue to move whatever grain that we have left in the bins, ” said Gowriluk.
“ But more importantly right now is to get that fertilizer out to Canadian farms across the country so we can get crops in the ground. ”
A union official told AFP that discussions were underway with a federal mediator.
The second-largest country in the world by area, Canada relies heavily on rail to transport goods and manufactured products.
CP’ s network crosses much of southern Canada and extends as far as Kansas City, Missouri, in the central United States.
On Monday, the Canadian Chamber of Commerce estimated that the shutdown of rail activities since Sunday would have a “ deep and adverse impact for all Canadian businesses — both big and small — who rely on rail for their supply chain. ”
Its president, Perrin Beatty, warned in a statement that the “ severe damage ” to supply chains would also “ harm our reputation as a reliable partner in international trade. ”
In 2020-2021, CP transported more than 30 million tons of grain.
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The horrors of the war in Ukraine can be seen in 13-year-old Volodymyr's empty expression as he lies in the children's hospital in Kyiv.
Australia has returned 29 religious and cultural artefacts to India, among them several stolen or illegally exported from the country.
A China Eastern passenger jet carrying 132 people crashed onto a mountainside in southern China on Monday causing a large fire.
The EU’ s foreign policy chief Josep Borrell calls Russia’ s attack on port city of Mariupol “ a massive war crime. ”
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Miami Beach, Florida, declares a state of emergency over spring break violence | Hi, what are you looking for?
Miami Beach, Florida has declared a state of emergency over spring break violence for the second year in a row.
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For the second year in a row, the City of Miami Beach declared a state of emergency, including a curfew, amid recent violence during spring break after two shootings over the weekend.
At a news conference on Monday afternoon, Miami Beach Mayor Dan Gelber announced the curfew would begin at 12:01 a.m. Thursday and last until 6 a.m. Monday, reports CNN News.
The curfew covers 23rd Street to the north, down to South Pointe Drive to the south, the ocean to the east, and the bay to the west. Officials intend to impose the same curfew for the following weekend.
The curfew is an attempt to push back against the reputation that Miami Beach is a “ 24-hour party city, ” Gelber said.
“ I know this might be happening all over the country, as I’ ve seen on some national reports, but frankly that doesn’ t make anybody feel better right here, ” Gelber said. “ Because this is our city, and we can not allow it to descend into this kind of chaos and disorder. ”
Gelber was referring to the fact that five bystanders were hospitalized in two random shootings over the weekend, NBC Miami reported. Three people were injured Sunday morning in a shooting on Ocean Drive near 8th Street, while on Monday, police found two women with non-life-threatening injuries after they responded to reports of gunshots around 1 a.m.
Gelber emphasized his frustration with the violence despite the “ massive deployment of police resources ( the) city has ever seen. ”
“ We can’ t endure this anymore, ” he said. “ We just simply can not have people come to our city and have to worry about being shot. That’ s not a way a city can operate. ”
A Miami Beach Live concert set for Saturday evening will be rescheduled, City Manager Alina Hudek said.
Gelber also noted that 371 officers were tasked with patrolling the crowds over the weekend. Since the Spring Break season began in February, nine officers have been injured in some capacity, Miami Beach Police Chief Richard Clements said Monday.
Karen Graham is Digital Journal's Editor-at-Large for environmental news. Karen's view of what is happening in our world is colored by her love of history and how the past influences events taking place today. Her belief in man's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, `` Journalism is merely history's first draft. '' Everyone who writes about what is happening today is indeed, writing a small part of our history.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
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Fortress Kyiv holds breath ahead of feared Russian assault | Hi, what are you looking for?
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Filled with mountains of sandbags and weapons at the ready, Kyiv is waiting.
On day 27 of Russia’ s invasion, the advance of troops northwest and east of the Ukrainian capital seems to have stalled and residents are taking advantage of a curfew to catch their breath and prepare.
With businesses ordered closed and residents told to stay home, Kyiv is a ghost town, with air sirens and distant sounds of explosions regularly punching through the silence and the golden cupolas of the landmark Saint Sophia Orthodox cathedral shining in spring sun.
Kyiv mayor and former world boxing champion Vitali Klitschko imposed the curfew from Monday until Wednesday morning, telling civilians to seek cover in bomb shelters if air defence sirens go off.
“ For people who have been constantly under pressure since the start of the invasion, it’ s a chance to breathe a little, ” says Alexis, who taught German before the war and guides an AFP team through the city.
“ At any rate, they are traumatised, they don’ t really want to go out. ”
– ‘ Morale is high’ –
Many of Kyiv’ s 3.5 million residents, mostly women and children, have fled the capital since Russia invaded on Feb 24.
Those that remain are mostly the elderly and those who will defend the city: soldiers as well as those who enlisted in volunteer defence units.
Maxym Kostetskyi, a 29-year-old lawyer-turned-volunteer fighter, says the curfew feels “ like a break, ” especially with the warmer spring weather.
“ We don’ t know if the Russians will keep trying to encircle the city, but we are much more confident, morale is high, ” he adds.
In the deserted streets, only white police cars with blue stripes and a few military trucks and rare civilian vehicles drive by, full of armed men in military fatigues.
Kyiv is dotted with checkpoints made of concrete blocks. On them is written in spray paint: “ Glory to Ukraine, ” “ Stop! ” as well as curses and demands that Russian troops get out.
On Kyiv’ s northern, eastern and western edges, alleys and intersections are filled with walls of sandbags and anti-tank hedgehogs, made of bars welded into crosses.
A forest on the northern outskirts of the city, where residents once went mushroom-picking and dined in a fine Argentine restaurant called “ Rancho el Gaucho ” has been turned into trenches where fallen soldiers are buried.
– ‘ Can not take Kyiv’ –
Olga Alievska, a 38-year-old marketing specialist, has remained in Kyiv, hopeful that “ the Russians do not want, and above all can not take Kyiv ”.
“ For now, they have been bombing military facilities mostly, not civilians, ” Alievska says.
But after Russian strikes destroyed a state-of-the-art shopping mall here on Sunday, killing eight people, fears are running high.
But in the heart of the capital, on the hills overlooking the spectacular Dnipro river, where only two bridges remain open to traffic, war seems almost distant.
At the foot of the 11th century Kyiv-Pechersk Lavra, known as the Monastery of the Caves, soldiers and weapons less visible.
On Kyiv’ s left bank, ignoring the curfew, a woman in her sixties walks her dogs near a solemn memorial to the victims of the Great Famine of the 1930s, in which millions of Ukrainians perished.
The famous Maidan Square, the scene of two of Ukraine’ s pro-Western revolutions, is also filled with heaps of sandbags.
“ Today, we are optimistic, even if we don’ t have a choice, ” says Kostetskyi, the volunteer soldier. “ We are protecting our country against someone, against Vladimir Putin, who just wants to destroy our country. ”
With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
The big issue facing Russia’ s military is the future. If the present is godawful, the future could be truly, fatally, disastrous.
Heatwaves at both the North and South poles havem't just broken old records - but have obliterated them.
US President Joe Biden told US CEOs that India has been'shaky ' in the Western alliance against Russia - Copyright AFP Nicholas KammUS President...
Covid-19 is again surging in Western Europe due to a `` perfect storm '' of governments lifting restrictions.
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking. | general |
Xiaomi: 2021 Q4 Results Announcement | Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
XIAOMI CORPORATION
小米集团
( A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)
( Stock Code: 1810)
ANNUAL RESULTS ANNOUNCEMENT
FOR THE YEAR ENDED DECEMBER 31, 2021
The board ( the `` Board '') of directors ( the `` Directors '') of Xiaomi Corporation 小米集团 ( the `` Company '') is pleased to announce the audited consolidated results of the Company and its subsidiaries ( collectively, the `` Group '') for the year ended December 31, 2021 ( the `` Reporting Period ''). The consolidated financial statements for the Reporting Period have been audited by PricewaterhouseCoopers, the independent auditor of the Company ( the `` Auditor '') in accordance with International Standards on Auditing. The results have also been reviewed by the audit committee of the Company ( the `` Audit Committee '').
In this announcement, `` we '', `` us '', and `` our '' refer to the Company ( as defined above) and where the context otherwise requires, the Group ( as defined above).
KEY HIGHLIGHTS
Unaudited
Three months ended
December 31,
December 31,
Year-over-
2021
2020
year change
( Renminbi ( `` RMB '') in millions,
unless specified)
Revenue
85,575.2
70,462.9
21.4%
Gross profit
14,659.5
11,326.3
29.4%
Operating profit
4,415.6
9,601.9
-54.0%
Profit before income tax
3,884.5
8,860.9
-56.2%
Profit for the period
2,442.5
8,795.0
-72.2%
Non-IFRS Measure: Adjusted Net Profit
4,473.1
3,204.4
39.6%
1
Year ended December 31,
Year-over-
2021
2020
year change
( RMB in millions, unless specified)
Revenue
328,309.1
245,865.6
33.5%
Gross Profit
58,260.9
36,751.8
58.5%
Operating Profit
26,028.6
24,034.7
8.3%
Profit before income tax
24,417.0
21,633.4
12.9%
Profit for the year
19,283.2
20,312.7
-5.1%
Non-IFRS Measure: Adjusted Net Profit
22,039.5
13,006.4
69.5%
BUSINESS REVIEW AND OUTLOOK
1. Overall performance
In 2021, despite the global supply shortage of key components and the continued impact of the COVID-19 pandemic, we remained focused on executing our business strategies. Our revenue and profit both achieved outstanding growth for the year, and annual revenue of each of our business segments reached record highs. In 2021, our total revenue amounted to RMB328.3 billion, an increase of 33.5% year-over-year; adjusted net profit was RMB22.0 billion, an increase of 69.5% year-over-year. In the fourth quarter of 2021, our total revenue reached RMB85.6 billion, an increase of 21.4% year-over-year; adjusted net profit was RMB4.5 billion, an increase of 39.6% year-over-year.
We continued to execute our core `` Smartphone × AIoT '' strategy. In 2021, our global smartphone shipments grew 30.0% year-over-year to reach 190.3 million units, a record high. According to Canalys, in 2021, our smartphone shipments ranked No. 3 globally with record-high market share of 14.1%, and we achieved the highest year-over-year shipment growth globally among the top five smartphone vendors. Global monthly active users ( `` MAU '') of MIUI reached 508.9 million in December 2021, increasing 28.4% year-over-year, and we added 112.5 million MAUs of MIUI globally in 2021. As of December 31, 2021, the number of connected IoT devices ( excluding smartphones, tablets and laptops) on our AIoT platform reached 434.0 million, up 33.6% year-over-year.
To drive innovation and technology advancement, we continued to increase our investments in research and development. In 2021, our research and development expenses reached RMB13.2 billion, an increase of 42.3% year-over-year. As part of our continued efforts to introduce cutting-edge technology, in 2021 we launched our first proprietary Image Signal Processor ( `` ISP ''), the Surge C1, and our first proprietary charging chip, the Surge P1, which were equipped in our Xiaomi MIX FOLD and Xiaomi 12 Pro premium flagship smartphones, respectively. We introduced our first pair of smart eyewear, Xiaomi Smart Glasses, which is capable of functions such as displaying messages, providing navigation and taking photos. We also established our robotics laboratory and launched CyberDog, our first bio-inspired quadruped robot, fortifying our cutting-edge technology capabilities. In addition, we introduced the liquid lens on our Xiaomi MIX FOLD and our CyberFocus algorithm on our latest Xiaomi 12 and Xiaomi 12 Pro, which further optimized photography experience. Looking ahead, technology innovation will continue to be our foundation, and we plan to invest more than RMB100 billion in research and development over the next five years.
2
Through our unwavering commitment to premiumization, we have been prioritizing user experience and improving our competitiveness in the premium smartphone segment. In 2021, our global shipments of smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 24 million units, far above the approximately 10 million units we shipped in 2020. Premium smartphone shipments as a percentage of our total shipments increased from approximately 7% in 2020 to approximately 13% in 2021.
According to Canalys, in 2021, we ranked No. 3 in smartphone shipments in mainland China, and our market share increased to a record high 15.2% from 12.1% in 2020. In December 2021, the MAU of MIUI in mainland China grew 17.0% year-over-year to 129.8 million, an increase of 18.9 million users in 2021. We continued to reinforce our leadership in the online channel. According to third-party data, our smartphone market share in mainland China through the online channel increased from 23.4% in 2020 to 33.6% in 2021. At the same time, we continued to expand our offline channel coverage in mainland China, and the number of our offline retail stores exceeded 10,200 as of December 31, 2021.
We continued to advance our overseas strategy. In 2021, our revenue from overseas markets reached RMB163.6 billion, representing an increase of 33.7% year-over-year and accounting for 49.8% of our total revenue. According to Canalys, our market share of smartphone shipments in 2021 ranked No. 1 in 14 countries and regions and among the top five in 62 countries and regions globally, including ranking No. 2 in Europe. In 2021, we have improved our regional smartphone market shares in all major regions including mainland China, Europe, Latin America, the Middle East, Africa and Asia Pacific.
2. Smartphones
Despite the global supply shortage of key components, our smartphone business maintained solid growth momentum, highlighted by increases in both shipments and ASP in the fourth quarter and full year 2021. In 2021, our smartphone revenue reached RMB208.9 billion, representing an increase of 37.2% year-over-year, and our global smartphone shipments amounted to 190.3 million units, an increase of 30.0% year-over-year. According to Canalys, our global smartphone shipments in 2021 ranked No. 3 with a market share of 14.1%. In the fourth quarter of 2021, our smartphone revenue reached RMB50.5 billion, an increase of 18.4% year-over-year, and our global smartphone shipments reached 44.1 million units, an increase of 4.4% year-over-year. According to Canalys, in the fourth quarter of 2021, our global smartphone market share ranked No. 3 with a market share of 12.5%.
3
We continued to execute our dual-brand strategy. Under the Xiaomi brand, we unveiled the Xiaomi 12 series1 in mainland China in December 2021. The launch of Xiaomi 12 and Xiaomi 12 Pro is the first time we introduced dual premium models with different screen sizes, and both come equipped with Qualcomm's Snapdragon 8 Gen 1 Mobile Platform processor. According to third-party data, in January 2022, the first month after launch, shipments of Xiaomi 12 and Xiaomi 12 Pro exceeded the combined shipments of all other smartphone brands also equipped with Qualcomm's Snapdragon 8 Gen 1 Mobile Platform processor. Xiaomi 12 Pro is also equipped with our proprietary charging chip, Surge P1, and the CyberFocus algorithm. Boasting exceptional performance and user experience, Xiaomi 12 Pro became the best-seller among Android smartphones priced at or above RMB4,000 on JD.com and Tmall.com in January 2022 following its launch. At the same time, our offline channels also played a more prominent role in premium smartphone shipment growth. In the first month after its launch, shipments of Xiaomi 12 series in mainland China through offline channels accounted for over 50% of its total shipments.
Under the Redmi brand, we continued to bring cutting-edge technologies to the mass market and offer the ultimate user experience across highly accessible products. In February 2022, we unveiled Redmi K50G to target gaming enthusiasts. Equipped with the Qualcomm Snapdragon 8 Gen 1 Mobile Platform processor, this model offer users a truly satisfying gaming experience in terms of performance, heat dissipation, fast charging, display quality, and sound and vibration effects. At the same time, we launched the Redmi K50G Mercedes-AMGPetronas Formula One Team Edition, boasting a highly recognizable and unique design. Within the first minute of launch, sales of the Redmi K50G and the Redmi K50G Mercedes-AMGPetronas Formula One Team Edition exceeded RMB280 million. In March 2022, we launched Redmi K50 and Redmi K50 Pro. Redmi K50 Pro is equipped with MediaTek's Dimensity 9000 processor using TSMC's advanced 4nm technology and features 2K ultra-clear screen and 120W fast-charging. It is also equipped with our self-developed charging chip Surge P1 and a 100MP optical image stabilization ( `` OIS '') camera. Priced starting from RMB2,999, Redmi K50 Pro continues to bring premium configurations to the mass market at extremely competitive prices.
After thoroughly reviewing our users ' core requirements for smartphone systems, we emphasized on improving user experience across multiple dimensions including system smoothness, stability, and privacy protection. In the fourth quarter of 2021, we launched MIUI 13, which substantially improves responsiveness and stability across system applications and third-party apps, which is accomplished by optimizing memory management and background processing efficiency while enhancing data calculation and storage access speeds. In the third-party `` System Smoothness Ranking among New Android Smartphone Models Launched in December '' for mainland China2, Xiaomi 12 Pro running MIUI 13 ranked No. 1. In addition, newly added privacy protection features within MIUI 13 offer even stronger safeguards for user information security and privacy.
3. IoT and lifestyle products
In 2021, our IoT and lifestyle products segment maintained robust growth with revenue increasing 26.1% year-over-year to RMB85.0 billion. In the fourth quarter of 2021, revenue from IoT and lifestyle products amounted to RMB25.1 billion, an increase of 19.1% year-over-year.
1
2
Xiaomi 12 Pro, Xiaomi 12, Xiaomi 12X
Based on data provided by Ludashi, a Hong Kong-listed developer of system benchmarking tools
4
In 2021, global shipments of our smart TV grew to 12.3 million units against an overall decline in the global TV market. As we continue to execute our premium strategy, ASP of our smart TVs increased significantly, driving our smart TV revenue to grow more than 25% year-over- year in 2021. In the fourth quarter of 2021, our global smart TV shipments reached 4.2 million units. According to All View Cloud ( `` AVC ''), our smart TV shipments ranked No. 1 in mainland China for the third consecutive year and ranked top five globally. In March 2022, we launched our first 100-inchultra-large screen TV, Redmi MAX 100 '', with dual 120Hz high refresh rate and support for Dolby Vision and Dolby Atmos, comprehensively upgrading the audio-visual entertainment experience and display effects.
In 2021, key AIoT categories such as tablets and laptops, smart large home appliances, and wearables also continued to grow steadily. First, our Xiaomi Pad 5 series received widespread popularity; its shipments ranking in mainland China rose to No. 4 in the fourth quarter of 2021, according to Canalys. Our smart large home appliance category, which comprises air conditioners, refrigerators and washing machines, also delivered strong growth with revenue increasing over 60% year-over-year in 2021. Within this category, shipments of our smart air conditioner exceeded 2 million units in 2021, representing an increase of over 70% year-over-year. At the same time, we continued to maintain our leading position in wearable products. According to Canalys, our wearable band shipments ranked No. 2 globally in the fourth quarter of 2021. According to IDC Quarterly Wearable Device Tracker ( 2021Q4), our TWS earbud shipments ranked No. 2 globally and No. 1 in mainland China in the fourth quarter of 2021.
Despite the challenges in maritime shipping logistics overseas during the second half of the year as a result of the COVID-19 pandemic, our overseas IoT business maintained its strong growth momentum and reached a new record high in 2021. Looking forward, we will continue to tap into the tremendous growth potential in overseas markets, seize opportunities to expand our overseas IoT business and promote its long-term development.
4. Internet services
In 2021, our internet services business maintained solid growth despite increased industry challenges. In 2021, our internet services revenue reached RMB28.2 billion, an increase of 18.8% year-over-year. In the fourth quarter of 2021, internet services revenue reached RMB7.3 billion, growing 17.7% year-over-year, and the gross profit margin of our internet services reached 76.1%, a quarterly high.
In 2021, our overseas internet business grew rapidly. Overseas internet services revenue reached RMB5.0 billion in 2021, and accounted for 17.8% of overall internet service revenue. In the fourth quarter of 2021, overseas internet services revenue reached RMB1.6 billion, increasing 79.5% year-over-year, and accounted for 21.5% of total internet services revenue.
5
Attachments
Disclaimer
Xiaomi Corporation published this content on 22 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2022 12:51:07 UTC. | business |
REFILE-UK public borrowing higher than expected in February | - British public-sector net borrowing, excluding state-owned banks, was 13.1 billion pounds ( $ 17.2 billion) in February, the Office for National Statistics said on Tuesday, well above the average forecast of 8.1 billion pounds in a Reuters poll of economists.
Borrowing for the first 11 months of the 2021/2022 financial year was 138.4 billion pounds, less than half its level from April 2020 to February 2021, when the public finances bore the brunt of the COVID-19 pandemic and extensive economic support. ( $ 1 = 0.7621 pounds) ( Reporting by David Milliken and Andy Bruce) | business |
Who Should Get Credit for Saving the World from COVID-19? | COVID-19 vaccines have saved approximately 1.1 million lives and prevented more than 10 million hospitalizations. But who should get credit -and money - for saving so many lives? Many major biopharma companies are asking that question after a series of lawsuits over patent rights to the vaccine and its associated technology.
Alnylam filed separate lawsuits against Pfizer and Moderna, claiming that their COVID-19 vaccines used Alnylam’ s unique biodegradable cationic lipids. More than a decade ago, Alnylam developed liquid nanoparticle ( LNP) technology as an effective, lipid-based mRNA drug delivery system. After the COVID-19 vaccines were developed using mRNA delivery systems, Alnylam believes that Moderna and Pfizer’ s vaccines were possible because of its LNP technology.
Alnylam is demanding “ fair compensation ” for the apparent use of this LNP technology, although it noted that it would not take any kind of action that would affect the availability of the vaccine.
Moderna denied the allegations. In a company statement, Moderna said Alnylam’ s LNP technology was developed for a different type of RNA, and that the COVID-19 vaccine used different lipids.
“ Moderna’ s LNPs do not resemble Alnylam’ s work, and any assertion that the Alnylam patent covers Moderna’ s COVID-19 vaccine is specious, ” the company stated.
Pfizer is now facing another lawsuit over its vaccine, this time from Arbutus Biopharma and Genevant. Pfizer had a licensing agreement with a company called Acuitas, which develops lipids and LNPs essential for mRNA vaccines. Pfizer and BioNTech used Acuitas’ technology in the COVID-19 vaccine.
Much of Acuitas’ LNP technology was developed by three particular scientists. At the time, those researchers worked for the company that is now Arbutus Biopharma. Arbutus was not supporting the researchers’ LNP work, so in 2008, the researchers left and formed their own company, which later became Acuitas.
Now Arbutus and its partner Genevant are suing Pfizer, saying that the research at Acuitas should rightfully still belong to Arbutus.
Acuitas denied the allegations and said that Arbutus and Genevant had “ nothing to do ” with the success of the COVID-19 vaccine. Acuitas also pointed out that the lawsuit only appeared after Pfizer and Acuitas experienced massive success.
Last month, Arbutus and Genevant also sued Moderna, again alleging that Moderna had infringed upon patents in using the LNP technology to develop its Spikevax COVID-19 vaccine. Arbutus and Genevant claim that the liquid nanoparticle delivery system in the vaccine is very similar to their own LNP delivery system they had spent years developing and refining.
In a company statement, Moderna responded to the allegations, saying, “ Moderna denies these allegations, and will vigorously defend itself against Genevant’ s claims in Court. Our COVID-19 vaccine is a product of Moderna’ s many years of pioneering mRNA platform research and development, including the creation of our own proprietary lipid nanoparticle delivery technology, which has been pivotal to combat the COVID-19 pandemic. ”
Again, Arbutus and Genevant are only making this claim after a competitor finds success. Moderna reported $ 17.1 billion from sales of the vaccine in 2021, and any patent infringement would cost Moderna dearly.
In one instance, a major biopharma company was the one on the offensive. In an article in the BMJ, the kENUP foundation, a European nonprofit that represents Pfizer’ s partner BioNTech, said that a technology transfer hub being developed in South Africa would likely infringe on Pfizer’ s vaccine technology.
In June 2021, the World Health Organization launched a technology transfer hub in South Africa. The goal was to use publicly available information to create its own COVID-19 vaccine. The WHO saw this as a way to help get vaccines locally made and distributed in Africa. Africa has the lowest vaccination rate against SARS-CoV-2 of any continent, with only about 15% of the population having received one dose.
The technology transfer hub would be an international collaboration to help scale up vaccine production and would provide jobs and vaccines to many local countries. However, within five months of the WHO’ s announcement, both Pfizer and Moderna announced their own plans to manufacture vaccines in Africa.
In the BMJ article, kENUP considered the project to be an infringement on both Pfizer and Moderna’ s vaccine technologies. | general |
Wall Street is starting to believe in Alibaba again |
Alibaba has a message for investors nervous about its
slowing growth
and
geopolitical uncertainty
: We think our stock is cheap and we're putting our money where our mouth is.
Shares of
Alibaba
(
BABA
)
rose more than 11% Tuesday after the Chinese e-commerce and cloud giant announced it was
boosting the size of its share buyback program
from $ 15 billion to $ 25 billion.
Stocks typically go up on buyback news because repurchases lower the total number of shares outstanding, which boosts earnings per share. Investors also like to see companies invest in their own stock because it can send the signal that management believes the stock is a bargain.
Alibaba said as much in a press release.
`` The upsized share buyback underscores our confidence in Alibaba's long-term, sustainable growth potential and value creation. Alibaba's stock price does not fairly reflect the company's value given our robust financial health and expansion plans, '' said the company's deputy chief financial officer, Toby Xu.
Read More
This is the second time in the past year that Alibaba has increased the pace of its stock purchases. The company
raised its buyback target
from $ 10 billion to $ 15 billion in August.
Chinese stocks are on a roller coaster with no end in sight
Alibaba has plenty of cash on hand to buy shares, having ended December with more than $ 75 billion on its balance sheet.
Alibaba shares have surged 50% over the past five days. Investors are hoping that recent signs from Chinese president Xi Jinping about a loosening of restrictions on Chinese tech companies in an attempt to
lift the country's stock market and economy
will improve sentiment.
But the stock is still down more than 3% this year and about 50% over the past 12 months.
Shares of Alibaba, along with rival
JD
(
JD
)
and other top Chinese firms
Tencent
(
TCEHY
)
,
Baidu
(
BIDU
)
and
Nio
(
NIO
)
, have been
incredibly volatile
due to concerns about a resurgence of Covid in China and fears that it could be
delisted in the United States
as regulators look to
crack down on Chinese companies.
Another prominent investor is also extremely bullish on Alibaba. Charlie Munger, the 98-year old vice chairman of Warren Buffett's
Berkshire Hathaway
(
BRKB
)
, has been buying more Alibaba shares for his own company.
Munger's
Daily Journal
(
DJCO
)
, a newspaper publisher and investing firm,
boosted its stake in Alibaba
earlier this year.
Speaking at the
Daily Journal annual shareholder meeting
last month, Munger did not specifically comment on
Alibaba
but said that he sees more value in China than in the US stock market. He praised the Chinese government for taking more steps to modernize its economy. | general |
PhRMA's Equity Initiative: Q & A with Wallen Augustin of Artemis Ward | Wallen leads the PhRMA account, providing the strategic lens that includes supporting PhRMA’ s paid and organic social media campaigns, email marketing programs, and the development of multi-channel creative assets.
Wallen: We have been working with PhRMA for the last few years on PhRMA’ s Equity Initiative, which aims to push for necessary systemic and long-term change to better meet the needs of Black and Brown America. The PhRMA Equity Initiative focuses on three pillars: health equity, clinical trials diversity, and talent. To help PhRMA accomplish their goals in each of these focus areas, we work with them on developing their digital strategy, overarching paid and organic social media campaigns, marketing assets like one-pagers and infographics, an event marketing website, and strategic visual branding, all of which serve as a comprehensive set of tools.
As we move forward into 2022, there is a new and refined interest in the intricacies of the biopharmaceutical industry. COVID-19 has highlighted the industry and further opened the door for curiosity and problem solving around demographic data, strategic gaps, and innovative solutions. There’ s a younger generation now learning about the importance and production of life-saving medicines, learning more about clinical trials and what they mean for their communities, and they are thinking about the industry for their own careers. PhRMA is playing a key role in those conversations through their Equity Initiative.
We encourage all our partners to defy the laws of gravity to go wherever they may need to go. This is the way that we approach things at AW – using relentless rigor and embracing unapologetic curiosity to solve key problems.
Diversity is not a trend, and with the changing demographics of America, this focus on diverse communities is here to stay. What is trend-worthy is how different organizations have chosen to respond. I’ ve been impressed with the authenticity PhRMA has brought to this effort. Their members developed Racial Justice Principles in the summer of 2020 and have held themselves to it. They’ ve worked together as an industry on enhancing clinical trial diversity, including the voluntary development and adoption of Clinical Trial Diversity principles. They’ ve connected hundreds of college students with companies seeking to learn more about the industry and the different types of opportunities that may be available.
I believe we’ ll continue to see the positive impact of these efforts for years to come. AW is proud to be a part of this effort.
Explain some of the strategies that the PhRMA Equity Initiative is using to reach new audiences. | tech |
Goldman Sachs CEO David Solomon to DJ at Lollapalooza |
Goldman Sachs CEO David Solomon will DJ at Chicago's Lollapalooza music festival this July alongside acts like Metallica, Dua Lipa, Doja Cat, and Green Day.
The 60-year-old, who moonlights as an
electronic dance DJ
when he's not running one of the largest investment banks in the world, has brought in
record-breaking profits
at Goldman while spinning records.
A spokesperson for
Goldman Sachs
(
GS
)
confirmed that Solomon, who regularly DJs at clubs in Miami and New York under the alias `` D-sol '' will hit the stage at Lollapalooza, which hosted about
400,000 attendees in 2019.
`` [ I ] kind of stumbled into it as a hobby, and now I just do it for fun, '' Solomon said on a Goldman Sachs podcast in 2017.
Solomon typically DJs four to six events each year, and all profits go to charity, said the Goldman spokesperson. Some executives play golf for fun, added the spokesperson, Solomon DJs.
Read More
Solomon's hobby has led him to headline a number of high-profile events, such as an Amazon event in 2019 and a Sports Illustrated Super Bowl party this year.
It has also stirred up controversy. He opened for The Chainsmokers at a
crowded Hamptons charity event in the midst of the Covid-19 pandemic
in July 2020. The show prompted an investigation by the New York State Department of Health for what then-governor Andrew Cuomo called `` egregious social distancing violations. ''
`` The vast majority of the audience appeared to follow the rules, but [ Solomon is ] troubled that some violated them and put themselves and others at risk, '' a Goldman Sachs spokesperson said in a statement at the time.
Last June Solomon transitioned from using DJ alias D-sol to his CEO name, David Solomon, and released a single entitled `` Learn to Love Me, '' which he promoted on his Instagram account.
Lollapalooza will be held July 28 to 31 in Chicago's Grant Park, with more than 170 performances slated for eight stages. Four-day tickets for the event range from $ 350 to $ 4,200. | general |
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Following the unprecedented market and policy momentum behind ESG in 2021, investors, corporate boards, and government leaders have raised expectations for progress on climate pledges in 2022.
With a full scale invasion of Ukraine now under way, stock markets, global trade, energy markets, and commodities markets are all registering the impact of a new geo-political reality.
While much of the world is rebounding from the COVID-19 crisis’ economic downturn, global supply chains are facing continuing pressures from pandemic-prompted changes in consumption patterns, surging demand for goods, shortages of workers, and pre-existing political pressures—leading to high shipping volumes and freight costs. Analysts expect disruptions to persist through 2022.
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While Europe is the region hit hardest by the Russia-Ukraine conflict, its economy could be resilient to the shocks in the long-term.
S & P Global Economics now expects Eurozone growth to fall by 1.2% this year, relative to its previous baseline, driven by its exposure to Russia and expensive energy imports. Dependent on Russia for 45% of its natural gas and 30% of its oil supplies, Europe has been scrambling to ensure its energy security amid roaring energy and commodities prices—by seeking new trade partners and promising to meaningfully reduce its reliance on Russia by year-end. In the short term, these changes could lead to even higher gas and power prices.
European countries have taken unprecedented action since Russia’ s attack on Ukraine began on Feb. 24. Rushing to the aid of Ukraine, the EU bloc has imposed swift, sweeping, and strict sanctions on Russia’ s central bank, financial institutions, key oligarchs, Nord Stream 2 pipeline, and revoked its “ most favored nation ” trade status—but excluded bans on energy. Historically neutral Switzerland joined its neighboring European countries in isolating Moscow. Germany broke with decades of precedent by sending military equipment into the conflict zone and funding defense investments.
But despite the devastation of the current conflict, the overall macroeconomic outlook for Europe doesn’ t appear to be entirely negative.
“ There are good reasons to believe that current scenarios surrounding the Russia-Ukraine conflict are manageable for the European economy, taking into consideration the usual transmission channels—trade, commodity prices, and confidence, ” S & P Global Ratings Chief EMEA Economist Sylvain Broyer said in research published March 16. “ Russia was only the fifth destination of EU exports in 2021, accounting for no more than 4% for total goods exports. Higher energy and commodity prices can be cushioned, at least temporarily, by the large excess savings that households and corporates have accumulated during the pandemic—in many countries, fiscal policy is working to mitigate their impact. And even if confidence takes a severe knock from the conflict, it will be from a high level due to the quick recovery in the labor market as well as fading, but ongoing, fiscal and monetary stimulus. ”
S & P Global Ratings believes that Europe’ s energy market could be reshaped by the current situation, in combination with evolving regulation on the gas and energy sector, the EU's steps to secure alternative gas supplies or fuels, and efforts to redirect liquefied natural gas cargos.
Today is Tuesday, March 22, 2022, and here is today’ s essential intelligence.Written by Molly Mintz.
An energy price spike triggered by Russia's invasion of Ukraine has laid bare supply chain vulnerabilities that could curb global growth in the near term. Flows of Russian oil, natural gas, and coal have been disrupted, driving up prices for available energy commodities. Russian metals and mining companies have continued to make shipments and avoid sanctions despite broad global opposition to their government's war on Ukraine, but higher energy costs have battered Europe's aluminum, nickel, and steel sectors, as well as South Africa's platinum miners. Russia's invasion came as prices for many metals were already increasing due to supply tightness for commodities such as aluminum, nickel, and coal.
Pension fund managers are walking a fine line as the energy transition evolves, balancing demands to limit investment in fossil fuels against those of oil-producing states that have threatened to take their business elsewhere if such a boycott happens. Eight states are considering laws that would require managers of public employee pension funds to drop fossil fuel companies from their portfolios in an effort to support the fight against climate change. Those states have a collective $ 644 billion under management. At the same time, five states with $ 445 billion in pension fund assets either have or are considering laws that would take away fund management—and the fees that go with it—from investment managers such as BlackRock Inc. and JPMorgan Chase & Co. if the fund managers screen potential investments based on their environmental records.
Sources in the California rice market are reacting with increasing concern to the prospect of a historically small crop this year, on the back of an already disappointing 2021 harvest. According to the U.S. Department of Agriculture's 2021 Acreage Report, planted area in California totaled 417,000 acres ( 168,754 hectares), down by 100,000 acres ( 40,469 hectares), or 19%, on year as water allocation restrictions curbed farmers ' ability to plant. California's 2021-22 rainy season got off to a good start, with heavy rain and snow for periods of Q4 2021 and hopes of a return to a `` normal '' crop size rose. However, much of this precipitation was absorbed directly into the parched ground, rather than filtering down to reservoirs or topping up the snowpack all that much.
Regulation is shaping the sustainability agenda and changing the way companies do business in different jurisdictions but keeping pace with constant regulatory updates has become a mammoth task for businesses and investors. In this recurring series, S & P Global Sustainable1 presents key regulatory developments from around the world. In this month’ s update, it looks at new guidance on EU taxonomy disclosures, a growing push toward regulating ESG ratings providers in Europe and India, a carbon emissions disclosure bill in California, and new ESG disclosure rules in China.
Ireland and Lithuania called for the EU to impose sanctions on Russia's oil trade at a meeting in Brussels on March 21 ahead of talks with U.S. President Joe Biden later in the week. The calls came during a meeting of EU foreign and defense ministers, prior to a meeting of EU heads of government and Biden on Thursday to discuss the response to Russia's invasion of Ukraine and what EU foreign affairs high representative Josep Borrell called `` massive '' war crimes by Russia. The EU has shied away from following U.S. and U.K. moves to boycott Russian oil, with EU energy sector sanctions focused on areas such as investment and technology sales, although Germany is moving to try and limit its use of Russian gas.
2021 was a huge year for S & P Global Market Intelligence. It introduced the S & P Capital IQ Pro platform with differentiated data, robust solutions, and flexible delivery options to help its clients accelerate their digital transformation while navigating through post-COVID uncertainty in the TMT sector. Today, S & P Global Market Intelligence is excited to announce that IHS Markit is now part of S & P Global. Look back and discover its next step in delivering data, technology, and expertise to the TMT sector. | business |
Saudi cabinet affirms 'essential ' role of OPEC+ in oil markets: SPA | In this week’ s highlights: Prospects of a modest oil price recovery in the coming months are growing...
Saudi Arabia's cabinet affirmed on March 22 the essential role of the OPEC+ coalition of oil producers it heads with Russia, a day after its foreign ministry indicated the kingdom could not be responsible for meeting global supply shortages if terrorist attacks by Yemen's Houthi rebels continue unabated.
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In a circular carried by state-run Saudi Press Agency, the cabinet stressed `` the importance of the essential role of the OPEC+ agreement in the balance and stability of oil markets. ''
The note also called for `` peaceful means '' to end `` conflict and military operations, '' in a reference to the ongoing conflict in Ukraine, which has helped sent oil prices to multi-year highs.
Riyadh has so far resisted pressure to pump more oil despite requests from major consumers such as the US and India, as it continues to balance a long-standing relationship with Moscow built on cooperation in the energy markets.
The world's largest oil exporter has been sticking to the OPEC+ plan to collectively bring 400,000 b/d back each month to reverse the historic production cuts implemented in 2020 following the start of the COVID-19 pandemic.
The next OPEC+ meeting to discuss its agreement is on March 31.
On March 21, Saudi Arabia's Ministry of Foreign Affairs called for international recognition that `` Iranian-backed '' militants `` target the kingdom's production sites of oil, gas and refined products, resulting in serious consequences for upstream and downstream sectors, affecting the kingdom's production capability and its ability to fulfill its commitments, undermining without a doubt, the security and sustainability of energy supplies to global markets. ''
The statement was made a day after an attack on the Yanbu Aramco Sinopec Refining Co. ( Yasref) refinery claimed by the Houthi militants.
According to the S & P Global Oil Security Sentinel, the kingdom's oil and energy infrastructure has been targeted more than 40 times since 2017, with the biggest incident occurring in 2019 when drone attacks hit the giant Abqaiq oil processing facility.
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Quick guide: Most widely used COVID-19 vaccines and how they work | Live Science is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more
By Nicoletta Lanese published 22 March 22
Here's how the top five COVID-19 vaccines work.
Editor's note: This article was last updated on March 22, 2022, by Live Science staff writer Nicoletta Lanese.
Dozens of coronavirus vaccines entered clinical trials during 2020, and now, more than 20 different shots are being administered to people around the world. Out of the five most widely used COVID-19 vaccines, three are cleared for use in the United States.
Here's a guide to how those top five vaccines work, their common side effects and how well the shots protect against SARS-CoV-2, the virus that causes COVID-19:
As of March 2022, the COVID-19 vaccine developed by Pfizer and German biotechnology company BioNTech is in use in 156 countries, including the U.S., according to The New York Times coronavirus vaccination tracker.
The vaccine was the first to be fully approved by the U.S. Food and Drug Administration ( FDA), according to a statement from the agency. Full approval was granted on Aug. 23, 2021, roughly seven months after the shot had first been authorized for emergency use in the U.S.
The full approval allows the vaccine to be used in individuals ages 16 and older; meanwhile, the vaccine can be given to children ages five to 15 under an emergency use authorization, as it's yet to be fully approved for this age group, according to the Centers for Disease Control and Prevention ( CDC).
Related: 11 surprising facts about the immune system
The Pfizer-BioNTech vaccine uses a molecule called messenger RNA ( mRNA) as its base, the CDC notes. A molecular cousin of DNA, mRNA contains instructions to build specific proteins, and in this case, the mRNA in the vaccine codes for the coronavirus spike protein.
To build the vaccine, scientists place the mRNA inside a small bubble of fat, called a lipid nanoparticle; the shot also contains several salts and sugars, to help keep the vaccine's ingredients stable while it's manufactured, frozen, shipped and stored. ( The Pfizer-BioNTech vaccine must be stored at minus 94 F ( minus 70 C) to remain viable, according to The New York Times.)
Once injected into the body, the vaccine instructs human cells to build the spike protein, and the immune system learns to recognize and attack it, according to the CDC.
The vaccine is administered in two doses given 21 days apart. In the U.S., everyone aged 12 and older is now recommended to get a booster shot at least five months after completing their Pfizer-BioNTech primary series. Individuals ages 12 to 17 can only get a Pfizer-BioNTech booster, but older people can get either Pfizer-BioNTech or Moderna, the CDC notes. ( The Johnson & Johnson vaccine is also available as a booster, but Pfizer-BioNTech or Moderna would be recommended, the CDC states.)
Common side effects include pain, redness and swelling at the injection site; tiredness; headache; muscle pain; chills; fever; and nausea. Rarely, inflammation of the heart muscle ( myocarditis) and inflammation of the saclike membrane surrounding the heart ( pericarditis) have been reported in teens and young adults who received the shot.
`` These reports are rare, and the known and potential benefits of COVID-19 vaccination outweigh the known and potential risks, including the possible risk of myocarditis or pericarditis, '' the CDC notes. `` The inflammation, in most cases, gets better on its own without treatment, '' according to Yale Medicine.
Late-stage clinical trials found that the vaccine was 95% effective at preventing laboratory-confirmed COVID-19 infections in people ages 16 and older, according to a report in the CDC journal Morbidity and Mortality Weekly Report ( MMWR) published in December 2020. Later clinical trials suggested that the shots were similarly effective in children ages 5 to 15, according to the CDC.
That said, there's been mixed data on whether the shot offers the same level of protection against infection with omicron to children ages 5 to 11 as it does to older children and adults, STAT reported. Real-world data from New York state hinted that the shots provide less protection to the youngest age group, potentially because those children receive a smaller dose of vaccine than older teens and adults. However, new data from 10 states suggests that the vaccine is similarly protective in both groups, regardless of this dosing difference.
In general, data suggest that two doses of the vaccine provide about 70% protection against hospitalization and 33% protection against infection with the omicron variant, Healthline reported. A booster dose bolsters this protection, as early data suggest it's 70% to 75% effective against symptomatic infections and about 80% to 90% effective against severe disease.
The COVID-19 vaccine developed by U.S. biotech company Moderna and the National Institute of Allergy and Infectious Diseases is now being used in the U.S. and 87 other countries, according to The New York Times coronavirus vaccination tracker.
It received full FDA approval on Jan. 31, 2022, for individuals ages 18 and older, according to the CDC. The FDA originally authorized the vaccine for emergency use on Dec. 18, 2020.
Like the Pfizer-BioNTech vaccine, the Moderna shot uses mRNA as its base and is administered in two doses. However, those doses are given four weeks apart, rather than three. People ages 18 and older should get a booster shot at least five months after completing their Moderna primary series, the CDC now recommends. In most instances, these individuals are recommended to get either a Pfizer-BioNTech or Moderna booster, rather than the Johnson & Johnson vaccine.
The Moderna vaccine can be stored at minus 4 F ( minus 20 C), rather than requiring deep-freezing like the Pfizer-BioNTech shots.
Common side effects include pain, redness and swelling at the injection site; tiredness; headache; muscle pain; chills; fever; and nausea. As with the Pfizer-BioNTech shots, rarely, young adults who get the Moderna shots have developed myocarditis or pericarditis. Again, the potential benefits of COVID-19 vaccination outweigh this small risk, the CDC states.
Clinical trials found that the vaccine was 94.1% effective at preventing laboratory-confirmed COVID-19 infection in people who received two doses. There's not much data on how the shots hold up against omicron, but early studies hint that a three-dose course of the vaccine ( that is, the two initial shots, plus a booster) offers 88% to 99% protection against hospitalization from omicron, Healthline reported. The three-dose course was about 47% to 71% protective against symptomatic omicron infections in healthy adults, although again, these estimates rely on preliminary data.
Related: 20 of the worst epidemics and pandemics in history
The COVID-19 vaccine developed by the University of Oxford and pharmaceutical company AstraZeneca is now being used in 182 countries but not in the U.S., according to The New York Times coronavirus vaccination tracker.
The vaccine contains a modified version of an adenovirus, which is a type of virus that causes the common cold; specifically, the virus used in the AstraZeneca vaccine naturally infects chimpanzees, according to the Vaccine Knowledge Project, an informational site managed by an academic research group in the Department of Paediatrics at the University of Oxford.
Related: 5 dangerous myths about vaccines
Scientists modified the adenovirus so that it can not infect human cells. Instead, the virus acts as a vessel to carry a short stretch of DNA into the body. That DNA codes for the coronavirus spike protein, a pointed structure that the virus uses to enter and infect cells. Once inside the body, the vaccine enters human cells and delivers these spike protein genes, which the cells then use to build the spike protein itself. The presence of spike proteins then triggers an immune response that trains the immune system to recognize and destroy the spike.
The Oxford-AstraZeneca vaccine is administered in two doses, spaced four to 12 weeks apart, the Vaccine Knowledge Project notes. In the U.K., people are now recommended to get a booster shot if three or more months have elapsed since their second dose of the vaccine. This recommendation applies to individuals ages 16 and older, plus children ages 12 to 15 who are at high-risk for severe COVID-19 or who live with an immunocompromised person. Most people in the U.K. receive either a Pfizer-BioNTech or Moderna shot for their booster, but some may be offered Oxford-AstraZeneca if they can't receive the other shots due to known allergies to the vaccines ' ingredients, for instance.
Common side effects include pain near the injection site, chills, fever, joint pain, muscle aches, fatigue and headache. These flu-like symptoms typically occur in the few days following the injection. Very rarely, people who received the Oxford-AstraZeneca vaccine developed blood clots and low platelet counts, Live Science previously reported.
A large, late-stage clinical trial found that the Oxford-AstraZeneca vaccine is about 76% effective at preventing symptomatic COVID-19 infections, AstraZeneca reported in March 2021. In the same trial, the shot showed 100% efficacy against severe disease and hospitalization. At the time those results were published, the alpha, beta and gamma coronavirus variants had recently been named variants of concern, but the report didn't break down whether the shots were more or less protective against different variants.
In October 2021, the company also released real-world data on the vaccine's effectiveness; this new data took new coronavirus variants, such as delta, into account. According to the AstraZeneca statement, two doses of the vaccine are about 92% effective against severe disease or hospitalization due to the delta variant and about 70% effective against symptomatic delta infections.
However, early data from the U.K. Health Security Agency suggested that the vaccine offered `` significantly lower '' protection against symptomatic infections due to omicron than those due to delta. However, after a booster shot, the vaccine's effectiveness against omicron rose to between about 70% and 75%.
The vaccine can be stored at normal refrigerator temperatures and is expected to last for at least six months when stored at 36 to 46 degrees Fahrenheit ( 2.2 to 7.7 degrees Celsius), according to The Conversation.
The COVID-19 vaccine developed by Johnson & Johnson's Janssen is used in the U.S. and 86 other countries, according to The New York Times coronavirus vaccination tracker.
In clinical trials, the vaccine was about 72% effective at preventing symptomatic COVID-19 in the U.S., but across all the countries included in the trials, the vaccine was only 66% effective, according to Yale Medicine. This difference in protection was attributed to the highly contagious variants circulating in some countries at the time. Data later gathered in South Africa suggest that the shot is about 67% effective against hospitalization and about 82% effective against fatal disease from the delta variant, and the shot offered similar protection against beta.
Early data hint that the Johnson & Johnson vaccine may offer a similar level of protection against omicron as the Pfizer-BioNTech and Moderna shots, The New York Times reported in March 2022. This conclusion was based on data from people who had not received booster shots but had completed their primary vaccine series.
In addition, early data suggest that two doses of the Johnson & Johnson vaccine — meaning the primary dose plus a booster — offer a similar level of protection against symptomatic and severe omicron infections as three doses of an mRNA vaccine, according to the Times.
The vaccine has not been fully approved by the FDA but is available under emergency use authorization, the agency's website notes.
The single-dose vaccine is available both as a primary vaccination dose for individuals ages 18 and older and as a booster dose for individuals ages 18 and older who completed their primary vaccination at least two months prior. In general, the CDC recommends that people who received the Johnson & Johnson vaccine for their primary vaccination seek a Pfizer-BioNTech or Moderna shot as their booster.
`` In most situations, Pfizer-BioNTech or Moderna COVID-19 vaccines are preferred over the J & J/Janssen COVID-19 vaccine for primary and booster vaccination due to the risk of serious adverse events [ linked to the J & J vaccine ], '' the CDC states.
The most common side effects of the vaccine are fairly mild, including redness and pain at the injection site; tiredness; headache; muscle pain; chills; fever; and nausea. However, `` there is a plausible causal relationship '' between the Johnson & Johnson shot and a rare but potentially fatal blood clotting disorder called thrombosis with thrombocytopenia syndrome, where people develop blood clots and low platelet counts. `` It occurs at a rate of about 3.83 cases per million Janssen doses, '' the CDC notes.
In July 2021, the FDA also issued a warning that there may be a link between the vaccine and Guillain-Barré syndrome ( GBS), a neurological disorder in which the body’ s immune system damages nerve cells. The available evidence hinted that there may be an increased risk of GBS after vaccination, but it was insufficient to establish a causal relationship, the FDA noted.
Like the Oxford-AstraZeneca vaccine, the Johnson & Johnson vaccine contains a modified adenovirus, which is filled with snippets of DNA, according to Nebraska Medicine. This particular adenovirus, called Ad26, has been modified such that it can not replicate in cells and cause infection. Instead, the virus carries genetic instructions to build the coronavirus spike protein; once inside the body, the vaccine directs human cells to build the spike, which then provokes an immune reaction.
Sinopharm, the state-owned China National Pharmaceutical Group, and the Beijing Institute of Biological Products developed a COVID-19 vaccine that is now in use in 88 countries but not the U.S., according to The New York Times coronavirus vaccination tracker.
Clinical trials suggested that the vaccine had an efficacy of 79% against symptomatic COVID-19 infection, The New York Times reported, and in May 2021, an analysis by the World Health Organization concluded that the vaccine had an efficacy of 78.1% against symptomatic infection. The vaccine showed about 79% efficacy against hospitalization in both analyses.
However, real-world data from Peru suggested that the two-dose vaccine was only 50.4% effective in preventing infections; this data was collected as the lambda and gamma variants of the coronavirus were surging in the country, Reuters reported. And more recently, evidence emerged to suggest that the vaccine is much less protective against the delta and omicron variants, Quartz reported.
The vaccine is given in two doses spaced three to four weeks apart, according to Medical News Today. The WHO says that a booster shot can be given four to six months after this primary series. The booster shot can either be another dose of the Sinopharm vaccine or a different vaccine, although a study conducted in Bahrain suggested that getting a different vaccine might trigger a stronger immune response, the WHO notes.
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Common side effects include headache, fatigue, fever, dizziness;, nausea, and redness and swelling at the injection site.
To make the vaccine, researchers took samples of the novel coronavirus from infected human patients and allowed the viruses to replicate in monkey kidney cells grown in bioreactor tanks, according to the Times. Then, they inactivated the viruses by applying a chemical called beta-propiolactone; once treated with this chemical, the viruses could no longer replicate but still carried all their characteristic proteins, including the spike.
The vaccine contains these inactivated viral particles and a substance called an adjuvant, which stimulates the immune system. Inside the body, specific immune cells gather up the dead viruses from the vaccine and display the viral proteins on their surfaces so that other immune cells can learn to recognize and attack the coronavirus.
Related: 11 ( sometimes) deadly diseases that hopped across species
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Originally published on Live Science. | general |
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Nature Communications volume 13, Article number: 1236 ( 2022) Cite this article
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Patients with amyotrophic lateral sclerosis ( ALS) can lose all muscle-based routes of communication as motor neuron degeneration progresses, and ultimately, they may be left without any means of communication. While others have evaluated communication in people with remaining muscle control, to the best of our knowledge, it is not known whether neural-based communication remains possible in a completely locked-in state. Here, we implanted two 64 microelectrode arrays in the supplementary and primary motor cortex of a patient in a completely locked-in state with ALS. The patient modulated neural firing rates based on auditory feedback and he used this strategy to select letters one at a time to form words and phrases to communicate his needs and experiences. This case study provides evidence that brain-based volitional communication is possible even in a completely locked-in state.
Amyotrophic lateral sclerosis ( ALS) is a devastating neurodegenerative disorder that leads to the progressive loss of voluntary muscular function of the body1. As the disorder typically progresses, the affected individual loses the ability to breathe due to diaphragm paralysis. Upon accepting artificial ventilation and with oro-facial muscle paralysis, the individual in most cases can no longer speak and becomes dependent on assistive and augmentative communication ( AAC) devices2,3, and may progress into the locked-in state ( LIS) with intact eye-movement or gaze control4,5. Several invasive6,7,8,9,10 and non-invasive11,12,13,14,15,16 brain-computer interfaces ( BCIs) have provided communication to individuals in LIS17,18,19,20 using control of remaining eye-movement or ( facial) muscles or neural signals. Once the affected individual loses this control to communicate reliably or can not open their eyes voluntarily anymore, no existing assistive technology has provided voluntary communication in this completely locked-in state ( CLIS) 17,18,19,20. Non-invasive11,12,13,14,15,16 and invasive6,7,8,9,10 BCIs developed for communication have demonstrated successful cursor control and sentence formation by individuals up to the stage of LIS. However, none of these studies has demonstrated communication at the level of voluntary sentence formation in CLIS individuals, who lack stable and reliable eye-movement/muscle control or have closed eyes, leaving the possibility open that once all movement - and hence all possibility for communication - is lost, neural mechanisms to produce communication will concurrently fail. Several hypotheses have been formulated, based on the past BCI failures, to explain the inability of ALS-patients in CLIS to select letters to form words and sentences ranging from extinction of intentions21 related to protracted loss of sensory input and motor output, cognitive dysfunction, particularly when it occurs in association with fronto-temporal degeneration. A successful demonstration of any BCI enabling an individual without reliable eye-movement control and with eyes closed ( CLIS) to form a complete sentence would upend these hypotheses, opening the door to communication and the investigation of psychological processes in the completely paralyzed ALS patients and probably also other disease or injury states leading to CLIS.
Here, we established that an individual was in the CLIS state and demonstrated that sentence-level communication is possible using a BCI without relying upon the patient’ s vision. This individual lacked reliable voluntary eye-movement control and, consequently, was unable to use an eye-tracker for communication. The patient was also ultimately unable to use a non-invasive eye-movement-based computerized communication system22. To restore communication in CLIS, this participant was implanted with intracortical microelectrode arrays in two motor cortex areas. The legally responsible family members provided informed written consent to the implantation, according to procedures established by regulatory authorities. The patient, who is in home care, then employed an auditory-guided neurofeedback-based strategy to modulate neural firing rates to select letters and to form words and sentences using custom software. Before implantation, this person was unable to express his needs and wishes through non-invasive methods, including eye-tracking, visual categorization of eye-movements, or an eye movement-based BCI-system. The patient started using the intracortical BCI system for voluntary verbal communication three months after implantation. With ALS progression, the patient lost the ability to open his eyes voluntarily as well as visual acuity, but he is still employing the auditory-guided neurofeedback-based strategy with his eyes closed to select letters and form words and sentences. Therefore, a CLIS patient who was unable to express his wishes and desires is employing the BCI system to express himself independent of vision.
One day after the implantation, attempts were initiated to establish communication. The patient was asked to use his previously effective communication strategy employing eye movements to respond to questions with known “ yes ” and “ no ” answers, which did not result in a classifiable neural signal, no difference in spike rate and multi-unit-activity ( MUA). Passive movements of the patient’ s right fingers, thumb, and wrist evoked consistent neural firing rate modulations on several electrodes on both arrays. However, when we instructed the patient to attempt or imagine hand, tongue, or foot movements, we could not detect consistent responses. Subsequently, the communication strategy was changed on the 86th day after implantation, and neurofeedback-based paradigms ( described in the Online Methods section) were employed, as shown in Fig. 1. In this setting, the patient was provided auditory feedback of neural activity by mapping a spike rate metric ( SRM) for one or more channels to the frequency of an auditory feedback tone, as displayed in Fig. 1 ( described in the “ Neurofeedback communication ” section of Online Methods, see sample Supplementary Video V1). The patient was able to modulate the sound tone on his first attempt on day 86 and subsequently was able to successfully modulate the neural firing rate and match the frequency of the feedback to the target for the first time on day 98. Employing the neurofeedback strategy, the patient was able to modulate the neural firing rate and was able to use this method to select letters and to free spell from day 106 onwards. The Results reported here include data from days 106–462 after implantation. Three of the authors ( UC, NB and AT) frequently traveled to the patient’ s home to perform communication sessions about every two weeks for 3 or 4 consecutive days until February 2020. Because of the COVID pandemic from March 2020 to June 2020, all the sessions were performed via secured remote access to the patient’ s laptop. During these sessions, the patient’ s wife performed locally all required hardware connections, and the experimenters, either UC or AT, controlled the software remotely. During the experimental period reported here, the authors UC, AT, and NB performed experimental sessions on 135 days. The patient was hospitalised due to unrelated adverse events between days 120 and 145, 163 and 172, and 212 and 223 after implantation, during which time no sessions were performed.
a Experimental setup. Two microelectrode arrays were placed in the precentral gyrus and superior frontal gyrus ( insert, L: left central sulcus, A-P: midline from anterior to posterior). An amplifying and digitizing headstage recorded signals through a percutaneous pedestal connector. Neural signals were pre-processed on a Neural Signal Processor and further processed and decoded on a laptop computer. b Daily sessions began with Neurofeedback training. If the performance criterion was reached, the patient proceeded to speller use. If the criterion was not reached, parameters were re-estimated on neurofeedback data, and further training was performed. c Schematic representation of auditory neurofeedback and speller. Action potentials were detected and used to estimate neural firing rates. One or several channels were selected, their firing rates normalized and mixed ( two channels shown here for illustration; see Online Methods). Options such as letter groups and letters were presented by a synthesized voice, followed by a response period during which the patient was asked to modulate the normalized and mixed firing rate up for a positive response and down for a negative response. The normalized rate was linearly mapped to the frequency of short tones that were played during the response period to give feedback to the patient. The patient had to hold the firing rate above ( below) a certain threshold for typically 500 ms to evoke a “ Yes ” ( “ No ”) response. Control over the neural firing rates was trained in neurofeedback blocks, in which the patient was instructed to match the frequency of target tones.
Each session day, we started with a 10-minutes baseline recording, where the patient was instructed to rest. During this time period the experimenter ran a software program to determine the firing rate of different individual channels and select their parameters for the first neurofeedback session-block. Two different types of neurofeedback sessions were performed consecutively on each day, “ feedback without reward ” and “ feedback with reward ” with the goal ( 1) to select channels suitable for voluntary control by the patient and ( 2) to train the patient to control the selected channels’ spiking activity voluntarily. The first paradigm ( “ feedback without reward ”) provided successive target tones, and the patient was asked to match the frequency of the feedback tone to the target tone. The second paradigm ( “ feedback with reward ”) was the same. However, upon reaching and holding ( during a configurable number of interactions, each interaction lasting 250 ms) the feedback tone within a predefined range around the target frequency, an additional reward sound was delivered for 250 ms, indicating successful performance to the patient. Holding the feedback tone at the high ( low) end of the range for a minimum of 250 ms was then interpreted as a successful “ yes ” ( “ no ”) response. After the first “ feedback without reward ” session, individual channels’ firing rate distributions were automatically calculated. The experimenter selected channels with differential modulation for the high and low target tones and updated the parameters for subsequent sessions. Employing this iterative procedure on each day, we performed several neurofeedback blocks within a particular day to remind the patient of the correct strategy to control the firing rate, each typically consisting of 10 high-frequency target tones and 10 low-frequency target tones presented in pseudo-random order and also to tune and validate the classifier. Typically, if the patient could match the frequency of the feedback to the target in 80% of the trials, we proceeded with the speller.
Figure 2a shows individual neurofeedback trials, including an error trial, of one representative block. Over the reported period, there were 1176 feedback sessions as shown in Supplementary Fig. S1. In the 281 neurofeedback blocks preceding the speller blocks, 4936 of 5700 trials ( 86.6%) were correct ( Fig. 2b), i.e., for target tone up ( higher frequency) the decision was up ( a “ yes ” answer), and for target down ( low frequency) the decision was down ( a “ no ” answer). The difference in error rates between ‘ up’ and ‘ down’ trials, i.e., the fraction of trials in which the modulated tone did not match the target tone, ( 13.2% and 12.2%, respectively), was significant ( Pearson’ s χ2 test: p < 0.01). The patient maintained a high level of accuracy in the neurofeedback condition throughout the reported period: on 52.6% of the days, the accuracy was at least 90% during at least one of the feedback trials blocks, i.e., the patient was able to match the frequency of the feedback to the target 18 out of 20 times. We observed considerable within-day variability of neural firing rates and hence performance of the neurofeedback classifier, necessitating manual recalibration throughout the day ( see Supplementary Fig. S1). In the last feedback sessions before speller sessions, the median accuracy was 90.0%, the minimum was 50.0% ( chance level). In 17.1% of the sessions, accuracy was below 80.0%.
a Representative example for normalized and mixed firing rate during ten high ( red) and ten low ( blue) target tone frequency feedback trials of day 247. The patient was asked to match the target tone by modulating the normalized and weighted firing rate, and he succeeded in all but one trial of this example. Trials were completed as soon as the firing rate was held above or below the upper or lower threshold, respectively. As defined in the Materials and Methods section, these feedback blocks were performed every day of recording for training, parameter selection, and validation of the selected parameters. The grey-shaded region from −1 to 0 s depicts the time period during which the high or low target tones were presented to the patient. The horizontal line at 0.3 and 0.7 shows the lower and upper threshold, respectively. Source data are provided as a Source Data file. b True positive rate vs. false positive rate of the trials in auditory neurofeedback blocks directly preceding speller blocks on days 123–462. Each circle represents one neurofeedback block; circles are jittered for better visibility. The blue insert at the bottom right corner shows the contingency table of all neurofeedback trials directly preceding speller blocks on days 123–462. In the blue insert—TP stands for true positive, i.e., up trials classified as up; FP stands for false positive, i.e, up trials classified as down; FN—stands for false negative, i.e., down trials classified as up; TN—stands for true negative, i.e., down trials classified as down; Time out denotes the trials that were unclassified. Source data are provided as a Source Data file.
We continued with the speller paradigm when the patient’ s performance in a neurofeedback block exceeded an acceptance threshold ( usually 80%). To verify that good performance in the neurofeedback task translated to volitional speller control ( based on correct word spelling), we asked the patient to copy words before allowing free spelling. On the first three days of speller use, the patient correctly spelled his own, his son’ s, and his wife’ s names. After an unrelated stay at the hospital, we again attempted the speller using the same strategy on day 148.
Afterward, we relied on a good performance in the neurofeedback task, i.e., the patient’ s ability to match the frequency of the feedback to the target in 80% of trials, to advance to free spelling. The selection of two letters from a speller block on day 108 is shown in Fig. 3. Supplementary Video V2 presents a representative speller block.
a Firing rate of the channels 25 and 100 used for “ yes ” / “ no ” classification on day 108. b Normalized firing rate and the speller state during the same 90 s period of a speller block. “ Yes ” / “ no ” / timeout decisions are marked by vertical lines and the option selected in green and not selected in red. This example is part of the phrase “ dekubitus po er soll arme maximal ”, referring to bedsore and instructing the aide to change arm position. Source data are provided as a Source Data file.
Over the reported period, out of 135 days, speller sessions were attempted on 107 days, while on the remaining 28 days use of the speller was not attempted because the neurofeedback performance criterion was not reached. The patient produced intelligible output, as rated independently by three observers, on 44 of 107 days when the speller was used ( Fig. 4). On average, 121 min were spent spelling and the average length of these communications was 131 characters per day. The patient’ s intelligible messages comprised 5747 characters produced over 5338 min, corresponding to an average rate of 1.08 characters per minute. This rate varied across blocks ( min/median/max: 0.2/1.1/5.1 characters per minute). Over the reported period, there was no apparent trend in spelling speed. There were 312 pairs of speller blocks and preceding neurofeedback blocks. The speller output was rated 0 for unintelligible by raters, 1 for partially intelligible, 2 for intelligible. The Spearman correlation between Neurofeedback task accuracy and subsequent speller intelligibility was 0.282 ( p = 4.002e−07). The Spearman correlation between Neurofeedback accuracy and number of letters spelled was 0.151 ( p = 7.671e−03). The information transfer rate ( ITR) during intelligible speller sessions was 5.2 bits/minute on average ( min/median/max: 0.3/4.9/21.4 bits/minute).
a Number of characters spelled by the patient during speller sessions whose output was rated ‘ intelligible’ ( rating described in text), aggregated by day. b Characters selected per minute in ‘ intelligible’ speller sessions, aggregated by day. c Speller use during the period presented. Sessions span 135 days. Green bars represent days on which speller was used and yielded intelligible output ( 44 days). Yellow bars represent days on which speller use was attempted, but no intelligible output was produced ( 63 days). On 28 days, speller use was not attempted ( red). Source data are provided as a Source Data file.
On the second day of free spelling, i.e., on the 107th day after implantation, the patient spelled phrases, spelled in three-time episodes, thanking NB and his team ( ‘ erst mal moechte ich mich niels und seine birbaumer bedanken’ – ‘ first I would like to thank Niels and his birbaumer’). Many of the patient’ s communications concerned his care ( e.g. ‘ kop? f immerlqz gerad’ – ‘ head always straight’, day 161; ‘ kein shirt aber socken’ – ‘ no shirts but socks [ for the night ]’, day 244; ‘ mama kopfmassage’ – ‘ Mom head massage’, day 247; ‘ erstmal kopfteil viel viel hoeh ab jetzt imm’ – ‘ first of all head position very high from now’, day 251; ‘ an alle muessen mir viel oefter gel augengel’ – ‘ everybody must use gel on my eye more often’, day 254; ‘ alle sollen meine haende direkten auf baubch’ – ‘ everybody should put my hand direct on my stomach’, day 344; ‘ zum glotze und wenn besuchen da ist das kopfteil immer gaaanz rauf’ – ‘ when visitors are here, head position always very high’ on day 461. The patient also participated in social interactions and asked for entertainment ( ‘ come tonight [ to continue with the speller ]’, day 203, 247, 251, 294, 295, ‘ wili ch tool balbum mal laut hoerenzn’ – ‘ I would like to listen to the album by Tool [ a band ] loud’, day 245, ‘ und jetwzt ein bier’ – ‘ and now a beer’, day 247 ( fluids have to be inserted through the gastro-tube), 251, 253, 461. He even gave suggestions to improve his speller performance by spelling ‘ turn on word recognition’ on day 183, ‘ is it easy back once confirmation’ on Day 253, ‘ tell alessandro i need to save edit and delete whole phrases and all of that into the list where ( patient’ s son name) on day 295, ‘ why cant you leave the system on. ifind that good’ on day 461, in English as the patient knew that the experimenter UC and AT are not native German speakers and mostly spoke in English with the patient. On day 247 he gave his feedback on speller as, ‘ jungs es funktioniert gerade so muehelos’, - ‘ boys, it works so effortlessly’. The patient expressed his desire to have different kind of food in his tube as, ‘ mixer fuer suppen mit fleisch’ – ‘ instructed his wife to buy a mixer for soup with meat’ on day 247’; ‘ gulaschsuppe und dann erbsensuppe’ – ‘ Gulash soup and sweet pea soup’ on day 253; ‘ wegen essen da wird ich erst mal des curry mit kartoffeln haben und dann bologna und dann gefuellte und dann kartoffeln suppe’ – ‘ for food I want to have curry with potato then Bolognese and potato soup on day 462. He interacted with his 4 years old son and wife, ‘ ( son’ s name) ich liebe meinen coolen ( son’ s name) – ‘ I love my cool son’ on day 251; ‘ ( son’ s name) willst du mit mir bald disneys robin hood anschauen’ - ‘ Do you want to watch Disney’ s Robin Hood with me’ on day 253; ‘ alles von den dino ryders und brax autobahnund alle aufziehautos’ – ‘ everything from dino riders and brax and cars’ on day 309; ‘ ( son’ s name) moechtest du mit mir disneys die hexe und der zauberer anschauen auf amazon’ – ‘ would you like to watch Disney’ s witch and wizard with me on amazon’ on day 461; ‘ mein groesster wunsch ist eine neue bett und das ich morgen mitkommen darf zum grillen’ – ‘ My biggest wish is a new bed and that tomorrow I come with you for barbecue’ on day 462.
We demonstrate that a paralyzed patient, according to the presently available physiological and clinical criteria in the completely locked-in state ( CLIS), could volitionally select letters to form words and phrases to express his desires and experiences using a neurally-based auditory neurofeedback system independent of his vision. The patient used this intracortical BCI based on voluntarily modulated neural spiking from the motor cortex to spell semantically correct and personally useful phrases. Properties of the multielectrode array impedance and recordings across sessions are shown in the Supplementary Fig. S2. In all blocks, measurable spike rate differentiation between “ yes ” and “ no ” during the neurofeedback trials and “ select ” and “ no select during speller blocks appeared in only a few channels in the SMA ( supplementary motor area) out of all active channels, as shown in Supplementary Fig. S3a. After the establishment of successful communication after day 86, similar channels from the Supplementary Motor Cortex array were used for communication sessions with the patient, as shown in Supplementary Fig. S3b. Mainly electrode 21 and neighbouring electrodes were used, which demonstrated differential control of the feedback tones during the neurofeedback sessions before spelling. Because the neurofeedback procedure was the prerequisite for successful communication after 86 days of attempted, but unsuccessful decoding, a multichannel decoding algorithm was not implemented following our clinical judgment based on learning principles23 that such a substantial change in the procedure might impede or extinguish the successful control of the patient and spelling. In addition, after this failure, we attempted a neural feedback approach, based on learning principles, capitalizing on the observation that neural firing rates could be used to achieve levels suitable to make yes/no choices. For the speller sessions, only one to four channels were used for control, as shown in Supplementary Fig. S3. There was insufficient time to explore other decoding approaches, and we wanted to establish that communication was feasible at all in CLIS. We can not explain why the other electrodes did not provide modulation suitable for multichannel decoding. Perhaps with further sessions and other strategies, not possible in this experiment, we might have identified faster, or more accurate approaches. Speller use duration was highly variable, ranging from a few minutes to hours. As shown in Fig. 4, the patient generated a different number of characters on different days. He spelled only under 100 characters on some days, while on other days, he produced more than 400 characters. Despite the huge variation in the number of characters spelled, the number of characters spelled per minute was mostly around 1 character per minute, and ITR averaged 5 bits/minute. Communication rates are lower than in other studies using intracortical arrays7,8,9, but comparable to EEG P300 spellers for ALS patients24,25 and much faster than an SSVEP EEG BCI for advanced ALS patients12. These apparent poor performances are primarily due to the completely auditory nature of these systems, which are intrinsically slower than a system based on visual feedback. Lastly it was noteworthy that free voluntary spelling mainly concerned requests related to body position, health status, food, personal care and social activities suggesting that even with this slow speller the patient could relay his needs and desires to caretakers and family.
Our study showed communication in a patient with CLIS. It is worth mentioning that no universally accepted clinical definition exists to distinguish LIS from CLIS; the current standard criteria to differentiate LIS from CLIS is the presence or absence of means of communication. During the transition from LIS to CLIS, patients are initially left with limited, and finally, no means of communication. The time course of this transition process is patient and disease specific. In theory, other voluntary muscles than eye-movements could have been used for Electromyography ( EMG) -based communication attempts. Particularly face muscles outside the extraocular muscles may remain under voluntary control in some cases even after the loss of eye-muscle control. To the best of the authors’ knowledge, no study has extensively investigated the remaining muscle activity of CLIS patients, but in previous studies22,26 the authors showed that during the transition from LIS to CLIS some remaining muscles of the eyes continue to function and can be used for successful communication.
In the case of the patient described here, extensive electro-oculogram ( EOG) recordings were performed to demonstrate that no other measurable neuromuscular output existed- a way to confirm CLIS. The patient employed an EOG-based BCI for communication successfully for the last time in February 2019 when the amplitude of EOG signal decreased below 20 µV. Nevertheless, extensive post-hoc EOG analysis showed a significant difference in the maximum, mean, and variance feature of the eye movement corresponding to “ yes ” and “ no ” even after the patient’ s inability to employ the EOG-based system. This failure to communicate despite the presence of a significant difference in some of the features may be due to the limitations of the EOG-based BCI system. However, as differences of eye movement amplitudes were only detectable over tens of trials and not reliably from session to session, EOG was not a practical signal for communication. In this study, caretakers and family members denied the existence of any possible reliable communication from February 2019 onwards, when this study occurred. Thus, we conclude based on our reported measurements that the patient described was in a CLIS a few weeks before and also after implantation. This statement does not exclude the possibility that even more sensitive measurements of somatic-motor control could reveal some form of volitional control, which would render the diagnostic statement of CLIS at least for this case inaccurate. Nevertheless, by the measures we describe here no muscle-based signals useful for communication were evident, leading us to conclude that this patient could be classified as in the chronic complete locked in state but was able to communicate using an implanted BCI system usefully.
The present BCI communication demonstrates that an individual unable to move for protracted periods is capable of meaningful communication. Still, the current neurofeedback based BCI system has several limitations, as several software and hardware modifications would need to be implemented before the system could be used independently by the family or caretakers without technical oversight. The BCI-software is presently being modified to improve communication quality and rate and the self-reliance of the family.
In this study, communication rates were much lower compared to other studies using intracortical arrays, which include communication with a point-and-click screen keyboard7,8,9, and decoding of imagined handwriting in a spinal cord injured patient27. People with ALS and not apparently completely locked-in have been able to use multi neuron-based decoders for more rapid communication than seen here. The differences might be both technical—a failure of the electrode—or biological, i.e., related to the disease state. While the multielectrode array ( MEA) used here typically shows some variable level of degradation in the quality and number of recordings over time, such arrays reportedly provide useful signals for years28,29.
Our MEA retained impedances in the useful range across the entire experimental period of this study ( Fig. S2) and neurons were recorded on many channels suggesting that the loss of recordable neural waveforms can not explain performance differences. The most striking difference in the present data was the inability to record neurons that modulated with the participant’ s volitional intent. This could be the result of the disease processes on the neurons themselves or the protracted loss of sensory-motor input itself. The observation that control was intermittent may reflect changes in neural connectivity or the ability to be activated. Lack of any somatic sensory feedback, especially that from muscles, might impede voluntary modulation of neural activity. Participants with ALS enrolled in previous trials apparently had at least some residual voluntary control of muscles, whereas this participant had lost all control by the time of implantation. Additionally, advanced ALS may have led to cognitive or affective changes such as shortened attention span or modified motivational systems that may have made it difficult to achieve reliable modulation of large numbers of neurons ( dozens to hundreds) achieved in other ALS participants with similar BCI systems implanted. Altered cortical evoked response amplitudes and latencies30 seen in this individual may be a reflection of these abnormal states. CLIS patients with ALS show highly variable and often pathological neurophysiological signatures31 such as heterogeneous sleep-waking cycles32 that may also affect the ability to engage neurons. Lastly, auditory cues may engage motor processes that will activate neurons in frontal areas outside of the motor cortex33, which may have contributed to the changes with the auditory task used here.
To conclude, this case study has demonstrated that a patient without any stable and reliable means of eye-movement control or identifiable communication route employed a neurofeedback strategy to modulate the firing rates of neurons in a paradigm allowing him to select letters to form words and sentences to express his desires and experiences. It will be valuable to extend this study to other people with advanced ALS to address the aforementioned issues systematically.
The medical procedure was approved by the Bundesinstitut für Arzneimittel und Medizinprodukte ( “ BfArM ”, The German Federal Institute for Drugs and Medical Devices). The study was declared as a Single Case Study and has received a special authorization ( “ Sonderzulassung ”) by BfArM, according to §11 of the German Medical Device Law ( “ Medizin-Produkte-Gesetz ”) on December 20, 2018, with Case Nr. 5640-S-036/18. The Ethical Committee of the Medical Faculty of the Technische Universität München Rechts der Isar provided support to the study on 19 Jan 2019, along with the explicit permission to publish on 17 February 2020. Before the patient transitioned into CLIS, he gave informed consent to the surgical procedure using his eye movements for confirmation. The patient was visited at home by authors HT and JL, and thorough discussions were held with the legally responsible family members ( wife and sister) in order to establish convincing evidence of the patient’ s informed consent and firm wish to undergo the procedure. The legally responsible family members then provided informed written permission to the implantation and the use of photographs, videos, and portions of his protected health information to be published for scientific and educational purposes. In addition, a family judge at the Ebersberg county court gave the permission to proceed with the implantation after reviewing the documented consent and a visit to the patient. The patient received no compensation for the participation.
The patient, born in 1985, was diagnosed with progressive muscle atrophy, a clinical variant of non-bulbar ALS, selectively affecting spinal motor neurons in August 2015. He lost verbal communication and the capability to walk by the end of 2015. He has been fed through a percutaneous endoscopic gastrostomy tube and artificially ventilated since July 2016 and is in home care. He started using the MyTobii eye-tracking-based assistive and augmentative communication ( AAC) device in August 2016. From August 2017 onwards, he could not use the eye-tracker for communication because of his inability to fixate his gaze. Subsequently, the family developed their own paper-based spelling system to communicate with the patient by observing the individual’ s eye movements. According to their scheme, any visible eye movement was identified as a “ yes ” response, lack of eye movement as “ no ”. The patient anticipated complete loss of eye control and asked for an alternative communication system, which motivated the family to contact authors NB and UC for alternative approaches. Initial assessment sessions were performed in February 2018. During this interval, the detection of eye movements by relatives became increasingly difficult, and errors made communication attempts impossible up to the point when communication attempts were abandoned. The patient and family were informed that a BCI-system based on electrooculogram ( EOG) and/or electroencephalogram ( EEG) might allow “ yes ” - “ no ” communication for a limited period.
The patient began to use the non-invasive eye movement-based BCI-system described in Tonin et al.21. The Patient was instructed to move the eyes ( “ eye-movement ”) to say “ yes ” and not to move the eyes ( “ no eye-movement ”) to say “ no ”. Features of the EOG signal corresponding to “ eye-movement ” and “ no eye-movement ” or “ yes ” and “ no ” were extracted to train a binary support vector machine ( SVM) to identify “ yes ” and “ no ” response. This “ yes ” and “ no ” response was then used by the patient to auditorily select letters to form words and hence sentences. The patient and family were also informed that non-invasive BCI-systems might stop functioning satisfactorily, and in particular, selection of letters might not be possible if he became completely locked-in ( where no eye movements could be recorded reliably). In that case, implantation of an intracortical BCI-system using neural spike-based recordings might allow for voluntary communication. As the patient’ s ability to communicate via non-invasive BCI systems deteriorated, in June 2018, preparations for the implantation of an intracortical BCI system were initiated. To this end, HT and JL and GF were approached in order to prepare the surgical procedure and ensure clinical care in a hospital close to the patient’ s home. The patient was able to use the non-invasive BCI system employing eye-movement to select letters, words, and sentences until February 2019, as described in Tonin et al.21,34. By the time of implantation, the EOG/EEG based BCI system failed, as signals could not be used reliably for any form of communication in this investigational setting. The EOG/EEG recordings and their analysis are described in Supplementary Note 1 and Supplementary Fig. S4. Additionally, the patient reported low visual acuity caused by the drying of the cornea.
A head MRI scan was performed to aid surgical planning for electrode array placement. The MRI scan did not reveal any significant structural abnormalities, in particular no brain atrophy or signs of neural degeneration. A neuronavigation system ( Brainlab, Munich, Germany) was used to plan and perform the surgery. In March 2019, two microelectrode arrays ( 8×8 electrodes each, 1.5 mm length, 0.4 mm electrode pitch; Blackrock Microsystems LLC) were implanted in the dominant left motor cortex under general anaesthesia. After a left central and precentral trephination, the implantation sites were identified by neuronavigation and anatomical landmarks of the brain surface. A pneumatic inserter was used28 to insert the electrode arrays through the arachnoid mater, where there were no major blood vessels. The pedestal connected to the microelectrode arrays connected via a bundle of fine wires ( Blackrock Microsystems LLC), was attached to the calvaria using bone screws and was exited through the skin. The first array was inserted into the hand area region of the primary motor cortex35, and the second array was placed 2 cm anteromedially from the first array into the region of the supplementary motor area ( SMA) as anatomically identified. No implant-related medical adverse events were observed. After three days of post-operative recovery, the patient was discharged to his home.
A digitizing headstage and a Neural Signal Processor ( CerePlex E and NSP, Blackrock Microsystems LLC) were used to record and process neural signals. Raw signals sampled at 30kS/s per channel were bandpass filtered with a window of 250–7500 Hz. Single and multi-unit action potentials were extracted from each channel by identifying threshold crossings ( 4.5 times root-mean-square of each channel’ s values). Depending on the activity and noise level, thresholds were manually adjusted for those channels used in the BCI sessions after visual inspection of the data to exclude noise but capture all of the visible spikes above the threshold. Neural data were further processed on a separate computer using a modified version of the CereLink library ( https: //github.com/dashesy/CereLink) and additional custom software. For communication, we used spike rates from one or more channels. A spike rate metric ( SRM) was calculated for each channel by counting threshold crossings in 50 ms bins. The SRM was calculated as the mean of these bins over the past one second.
Custom software written in Python and C + + was used to perform and control all BCI sessions. The software managed the complete data flow of the raw signals provided by the NSP, allowing manual configuration of recording parameters, selection of individual channels for neurofeedback and storing of neural data, and meta-information ( timing information of trigger events, etc.) required for offline analysis.
The software enabled the experimenter to configure different experimental protocols, to select an experimental paradigm for each session, and to trigger the start and end of a session. The software-controlled the presentation of auditory stimuli to the patient, including the presentation of feedback from his neural activity. It also provided live feedback to the experimenter regarding ongoing progress, e.g., the currently spelled phrase. Also, the software provided live visualization of neural activity, including the original firing rate activity of selected channels and normalized firing rate activity used for neurofeedback. To secure smooth real-time processing and to avoid potential performance bottlenecks, the software supported multiprocessing. That is, all critical processes, including data acquisition, data storage, neurofeedback, classification, and visualization, were executed in separated cores.
The patient was provided auditory feedback of neural activity levels by mapping the SRM for one or more channels to the frequency of an auditory feedback tone, as shown in Fig. 1. Single channel spike rates were normalized according to the spike rate distribution of each channel. Selected channels’ normalized SRMs were then summed and linearly mapped to the range of 120–480 Hz, determining the frequency of the feedback tone produced by an audio speaker. Feedback tones were updated every 250 ms. The firing rate ri of each selected channel was constrained to the range [ ai, bi ], normalized to the interval [ 0,1 ], and optionally inverted, and the resulting rates were averaged:
where r ( t) is the overall normalized firing rate, and the ci are 1 or −1. The normalized rate was then linearly mapped to a frequency between 120 and 480 Hz for auditory feedback. Feedback tones were pure sine waves lasting 250 ms each. Initially, channels were selected randomly for feedback. Then the parameters ai, bi, ci as well as the channels used for control were chosen and iteratively optimized each day in the neurofeedback training paradigms.
The first paradigm ( “ feedback without reward ”) provided successive target tones at 120 or 480 Hz, and the patient was asked to match the frequency of the feedback to the target ( typically 20 pseudorandom trials per block). In the “ feedback with reward ” paradigm, was essentially the same, however, upon reaching and holding ( during a configurable number of interactions, each interaction lasting 250 ms) the feedback tone within a predefined range around the target frequency, an additional reward sound was delivered for 250 ms indicating successful performance to the patient. Holding the feedback tone at the high ( low) end of the range for 250 ms was then interpreted by the patient upon instruction as a Yes ( No) response ( see Supplementary Video V1 as a typical example). The “ feedback with reward ” paradigm served to train and validate the responses.
We also validated the Yes/No responses in a question paradigm, in which the answers were assumed to be known to the patient. Furthermore, we used an ‘ exploration’ paradigm to test if the patient’ s attempted or imagined movements could lead to modulation of firing rates.
Finally, in an auditory speller paradigm, the patient could select letters and words using the previously trained Yes/No approach. The auditory speller paradigm is depicted in Fig. 1c. The speller system described here avoids long adaptation and learning phases because it is identical to the one used previously when he was still in control of eye movements. The original arrangement of the letters in their respective groups was chosen according to their respective frequency in the patient’ s native German language.
The speller’ s output was rated for intelligibility by three of the authors ( UC, IV, and JZ). Three categories were used: unintelligible, ambiguous, and intelligible. Ambiguous speller output includes grammatically correct words that could not be interpreted in the context as well as strings of letters that could give rise to uncertain interpretations. Intelligible phrases may contain words with spelling mistakes or incomplete words, but the family or experimenter identified and agreed upon their meaning.
To evaluate the performance of the speller, the information transfer rate36 ( ITR) B during speller sessions that were rated as intelligible was calculated as:
where N is the number of possible speller selections ( 30 including space, delete, question mark and end program), and P is the probability that a correct letter was selected. Multiplication with selected symbols and division by session duration yields bits per minute.
Software and procedures were designed to provide redundancy and automation to ensure that crucial information is always saved with each recording:
The BCI software was implemented with extensive automated logging for each session:
neural data ( spike rates) used for BCI control
event timestamps from the neurofeedback training/validation and speller paradigms
configuration used to run the particular session, including channel selection, normalization parameters, thresholds for yes/no detection, task timings, arrangement of letters in speller, etc.
source code of the KIAP BCI software used on that day. The BCI software was kept under version control using git. The hash of the current commit was saved along with any changes compared to that commit.
Specific instructions were given to the personnel performing the experimental sessions to acquire raw neural data collected in parallel to the BCI data, which included loading a configuration file, starting data recording before a BCI session, and stopping the recording at the end. Two experimenters were on-site, when possible, to divide system operation and patient interaction tasks.
Information about each recording session was entered into a session log in a shared Excel file ( which has a history of edits). Information logged include for each session:
kind of experiment
file names of raw data and KIAP BCI data
any additional EEG recordings if performed
names of video files if performed
experimenters present
observations/abnormalities for the session
data recording abnormalities, etc.
During the experiments, known issues were fixed, for example, a change in log file format was implemented ( as noted in the accompanying dataset), which allowed to more easily interpret the data. The post hoc analysis, i.e., parsing log files and data compilation was checked manually for several sessions. Co-authors reviewed the results and the process.
Data handling procedures were implemented to ensure that data integrity was maintained from recording to safe storage.
The dataset here spans days 106 to 462 after implantation. For the analysis of neurofeedback trials in Fig. 2 and the corresponding main text, only blocks after day 123 were used because of a change in paradigm ( before day 123, incorrect trials and time-outs were not differentiated). For Supplementary Fig. 1, all neurofeedback blocks were used, as time-out trials were counted as ‘ incorrect’ as well. All speller sessions performed between days 106 and 462 were included in the analysis. The BCI data of one neurofeedback and one speller session were lost during data transfer and the loss was only discovered after the original data had been deleted. These sessions were therefore excluded from the analysis.
Further information on research design is available in the Nature Research Reporting Summary linked to this article.
The data upon which the findings in this paper are based ( neural firing rates, event log files for data presented in Figs. 2, 3, 4, S1, S3; electrode impedances and spike event files for data presented in Fig. S2) are available at https: //doi.org/10.12751/g-node.jdwmjd37. The EOG data which Fig. S4 is based on is available at https: //doi.org/10.12751/g-node.ng4dfr38. Source data are provided with this paper. The raw neural recordings is available upon request to J.B.Z., yet owing to the potential sensitivity of the data, an agreement between the researcher’ s institution and the Wyss Center is required to facilitate the sharing of these datasets. Source data are provided with this paper.
The code used to run the BCI system is available at https: //doi.org/10.12751/g-node.ihc6qn39.
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This research was supported by the Wyss Center for Bio and Neuroengineering, Geneva, Deutsche Forschungsgemeinschaft ( DFG BI 195/77-1) – N.B. and U.C.; German Ministry of Education and Research ( BMBF) 16SV7701, CoMiCon – N.B. and U.C.; LUMINOUS-H2020-FETOPEN-2014-2015-RIA ( 686764) – N.B. and U.C.; Bogenhausen Staedtische Klinik, Munich. The authors thank Andrew Jackson and Nick Ramsey for their comments on an earlier version of the manuscript. Aleksander Sobolewski contributed the 3D model for Fig. 1. We thank the patient and his family.
These authors contributed equally: Ujwal Chaudhary, Ioannis Vlachos, Jonas B. Zimmermann.
ALS Voice gGmbH, Mössingen, Germany
Ujwal Chaudhary
Wyss Center for Bio and Neuroengineering, Geneva, Switzerland
Ioannis Vlachos, Jonas B. Zimmermann, Arnau Espinosa, Alessandro Tonin & Alain Woodtli
Institute of Medical Psychology and Behavioral Neurobiology, University of Tübingen, Tübingen, Germany
Alessandro Tonin, Andres Jaramillo-Gonzalez, Majid Khalili-Ardali & Niels Birbaumer
Department of Neurology, Clinical Neurophysiology, Cognitive Neurology and Stroke Unit, München Klinik Bogenhausen, Munich, Germany
Helge Topka
Department of Neurosurgery, München Klinik Bogenhausen, Munich, Germany
Jens Lehmberg
Neurosurgery Department, European University, Nicosia, Cyprus
Gerhard M. Friehs
Carney Brain Institute, Brown University, Providence, RI, USA
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U.C.—Initiation; Conceptualization; Ethics Approval; Performed 95% of the sessions with the patient before and after implantation; Figures; Neurofeedback paradigm; Manuscript writing. I.V.—Software development, integration and testing; Data analysis; Neurofeedback paradigm implementation; Performed 5% of the sessions after the implantation. J.B.Z.—Neurofeedback paradigm implementation; Data analysis; Figures; Manuscript writing. A.E.—Software testing; EEG/EOG analysis; Figures. A.T.—Speller software development; Performed 30% of sessions before implantation and 20% of the sessions after implantation; EEG/EOG analysis; Figures. A.J.-G.—EEG/EOG analysis; Figures. M.K.A.—Graphical user interface. H.R.T.—Ethics Approval; Medical patient care; Clinical and diagnostic neurological procedures. J.L.—Ethics approval; Neurosurgery; Clinical care. G.M.F.—Neurosurgical training. A.W.—Ethics approval; BfArM approval; Neurosurgical training. J.P.D.—Initiation; Conceptualization, writing, review, editing. N.B.—Initiation; Conceptualization; Coordination, Clinical-psycholgical procedures and care; Neurofeedback paradigm; performed 30% of the sessions with UC; Ethics approval; BfArM approval; Manuscript writing.
Correspondence to Ujwal Chaudhary, Jonas B. Zimmermann or Niels Birbaumer.
The authors declare no competing interests.
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MTG backs calls for plan to address NHS 'postcode lottery ' | The Medical Technology Group ( MTG) is backing calls by the Public Accounts Committee ( PAC) for a national plan to address the stark regional variation in patient access to NHS treatment.
The PAC report highlights that in September 2021, ‘ patients in the worst-performing geographic areas were more than twice as likely as patients in the best-performing areas to have been waiting over 18 weeks for elective care or more than 62 days for cancer treatment following an urgent referral’.
Commenting on the report, MTG chair, Barbara Harpham, said: “ We were delighted to see the Government commit significant funding towards the elective care recovery plan last month. However, today’ s report by the Public Accounts Committee, reminds us of the harsh reality that patients across England face when trying to access elective treatment. Unfortunately, it is still a case of “ not what you need, but where you live ” that matters.
“ This postcode lottery long predates the COVID pandemic and the MTG has been working to highlight this since 2019 through its Ration Watch campaign. The additional funding promised in last month’ s elective care recovery plan, alongside a credible workforce strategy, now provides an opportunity to really make a difference to the problem. But as stated in today’ s report, a national plan is urgently needed to coordinate an effective response to the longstanding and systemic problem of the NHS lottery postcode.
“ Directing additional financial support and human resources to those regions, as the report recommends, could mean improved outcomes for thousands of patients in areas that lag behind the delivery of care in the rest of the country.
“ We now welcome further dialogue with NHS England and the Public Accounts Committee to ensure our work on Ration Watch can inform the contents and direction of a national plan aimed at delivering the best of the NHS for all.
“ Better equality of access to life changing and life enhancing treatments has huge potential to deliver long term benefits to patients, society and the economy. ” | tech |
How Finnish innovations are helping reshape the post-pandemic world | Finnish healthtech innovations and solutions are part of the diagnostic technology and applications that are reshaping healthcare as we emerge into a post-pandemic world.
From platforms that provide digital processes to shorten patient backlogs and manage staff time more effectively, personal monitors that help people take control of their own health, and a COVID-19 vaccine administered directly into the nose, that can be developed to use against future pandemics, Finnish innovations are leading the way in ground-breaking global health technology and solutions.
COVID-19 and the latest wave of Omicron have resulted in global demand for diagnostic innovations and applications. As we emerge from the pandemic, people are increasingly taking control of their health, and patient and home monitoring devices developed in Finland are helping to empower a healthier life for many.
Finland’ s vibrant start-up community is proud to be making great strides in improving healthcare - its tech-savvy expertise, stellar engineering skills, and irrepressible entrepreneurial spirit has made it a giant in the field of medical diagnostics.
Kari Klossner, head of Smart Life Finland Program, says: “ Countries across the world are now moving away from isolation and lockdowns to a way of ‘ living with COVID-19’, and dealing with the new challenges it brings. One of the key issues to overcome will be tackling long hospital waiting lists that many countries struggle with. With a backlog of operations, tech is set to be at the forefront to manage waiting times and serve patients faster. For example, automating processes can help reduce administrative burdens and improve the patient experience by reducing the number of pre-operative phone calls. This decreases the time staff spend on preventable conditions, so they are free to dedicate their time to important patient care. Innovations in diagnostic technology will also be highly impactful when conditions can be identified faster and could lead to patients avoiding more invasive treatments later down the line. The world is set to truly ‘ learn to live with COVID’ and innovative solutions will greatly help not only with this virus – and other vises to come – without putting people at risk. ”
As the healthtech sector grows, Finland is keen to attract the best talents and brightest minds to join its close-knit global community that has led to the country becoming a technological super-power, producing one of the fast-growing start-up scenes in the world.
New initiatives from Finland-backed health tech start-ups include Deep Sensing Algorithms ( DSA) and the device called: DSA BreathPass which is the world’ s first ultra-rapid COVID-19 detection technology which analyses exhaled breath. The hand-held breathalyser device can be used for COVID screening in schools, dental clinics, large workplaces, and medical offices for their staff.
Kari Klossner added: “ As a small country, Finland is used to relying on each other and doing things together, sharing a joint goal and the desire to share our knowledge and learnings for the common good. State of the art infrastructure, supporting legislation, world-class research organisations and forward-thinking governmental entities are creating an environment where Finnish healthcare innovations are flourishing. An excellent example of this is our ecosystem thinking, a structure by which research organisations, healthcare providers and commercial companies - ranging from start-ups to multinational corporations - can all work under one roof to share a common agenda and goal.
“ Only through collaboration and global partnerships can we develop the technologies and innovations that will help the future of patient care. Finland is committed to bringing talented people, innovations, technology, and businesses together to create health innovations and solutions that will help us achieve this purpose. ” | tech |
REFINERY NEWS ROUNDUP: Potential closures in Africa on new sulfur rules | In this week's Market Movers Americas, presented by Jeff Mower: * US Gulf of Mexico offshore output...
A number of refineries in Africa face closure if they fail to upgrade and produce 10 ppm diesel by 2030, according to panelists at ARDA conference.
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Some of the refineries on the continent, including Ghana's Tema, still need to upgrade to produce 50 ppm max gasoil. Meanwhile two of the refineries in South Africa -- Engen and Sapref, have upgraded to produce max 50 ppm gasoil but will need additional investment to produce 10 ppm diesel and have opted to close instead.
South Africa's Engen said it will be proceeding with the conversion of its Durban refinery into a terminal. The refinery has been shut since a fire and explosion December 2020.
Meanwhile earlier this year South Africa's largest refinery Sapref said it will halt operations no later than the end of March.
Zambia's Indeni has also been mothballed.
However, other refineries are undergoing upgrades, some of which like Senegal's SAR and Angola's Luanda are due to complete in the coming months.
* * Cameroon's Limbe refinery, which suffered from a fire at the end of May 2019, remains offline, with the government considering whether to repair the damaged plant or build a new site, according to a source close to the refinery. The fire mostly damaged a fractionation unit used for gasoline production, but the CDU is fairly intact, the source said. The refinery increased its capacity to 72,000 b/d from 45,000 b/d shortly before the explosion happened through an upgrade program, which involved the construction of a vacuum distillation unit, a catalytic reformer and a power plant.
* * Senegal's sole refinery in Dakar, currently undergoing maintenance and upgrade, is due to restart in April, according to panelists at the ARDA conference. It is building a new preflash unit and expanding the catalytic reformer. The refinery started a four-month maintenance in November, due to continue until March, during which the refinery would align new units with existing equipment, S & P Global Commodity Insights has reported. The upgrade is part of the refinery's capacity expansion as well as adaptation of units to process Senegalese crude oil. The Dakar refinery has plans to increase its capacity to 1.5 million mt/year.
* * Zambia's Indeni refinery continues to be offline as the government is looking to overhaul operations at the plant after it was closed down due to financial and technical reasons, a refinery spokesperson told S & P global Platts on Feb. 22.
`` The refinery is now on care and maintenance, as the shareholder looks at remodeling the business, '' the spokesperson said. `` Operations have effectively been mothballed, with all products being imported. '' The refinery's operations have been suspended since late-December due to financial and technical reasons. The government wanted to overhaul the aging refinery, but the project had been put on hold until the elections. The new government headed by President Hakainde Hichilema, who was elected in late-August, is still to take a final decision on the refinery.
* * South Africa's largest refinery Sapref will halt its operations no later than the end of March, BP and Shell, its two shareholders, said in a statement. The refinery operations will be suspended for `` an indefinite period '' with a possible restart, `` including in the event of any future sale. '' `` The decision has been taken to allow an informed finalization on the various options available to the shareholders, a sale option being the most preferred, '' the two companies said.
* * Congo's Pointe Noire refinery will carry a full two-month turnaround in June, according to consulting company CITAC Africa. The refinery had been expected to carry out works in 2021.
* * South Africa's Astron Energy Cape Town refinery is expecting to restart in the second half of 2022, the company said Jan. 25. It is currently `` in the process of rebuilding the affected section '' of the refinery `` with a view of the safe restart, '' it said. The refinery has been halted since an incident in July 2020 involving an explosion and fire.
* * Ghana's sole oil refinery, Tema, remains offline and the plant is unlikely to restart for a few more months due to a lack of crude and feedstock. The plant has been hit by several issues over the past few years, experiencing intermittent outages at its crude distillation unit and FCC unit. The CDU currently only has one furnace, which means the refinery can only operate around 30,000 b/d capacity.
* * South Africa's Engen said it will be proceeding with the conversion of its Durban refinery into a terminal. The refinery has been shut since a fire and explosion Dec. 2020. The refinery-terminal conversion was expected to be commissioned in Q3 2023.
* * Libya's Ras Lanuf remains offline without any timeline for its restart. The refinery was shut in 2013.
* * Sogara, Gabon's sole refinery, is working on building a new hydrocracker, according to a source close to the refinery. The unit, which will allow the refinery to produce ultra-low sulfur diesel, is expected to come online in 2025.
* * Cote d'Ivoire's SIR refinery is in the process of upgrades, a company source said at the ARDA conference. The refinery expects to complete a FEED study into a new diesel desulfurization unit by the end of 2022 and commission the unit, which will enable it to produce 10 ppm diesel, by the end of 2025 or early 2026. It is also working on a project aimed at reducing the benzene content of gasoline by 1% in volumes. Separately, it is working on CDU capacity expansion by 20% and a new reformer construction which will enable it to improve gasoline production. Both projects are expected to be completed in 2027. The refinery is also expecting to launch a modular power plant which will help it to produce electricity from natural gas and to improve energy efficiency. The refinery will use Honeywell UOP Distillate Unionfining technology to produce diesel that complies with both AFRI 6 and Euro-V emission standards.
* * The upgrade of Angola's Luanda refinery is nearing completion, a company source said at the ARDA conference. It will increase gasoline production from 72,000 mt/year to 450,000 mt/year with the project due to be completed in June and production expected to start in August 2022. The refinery will process the naphtha it currently exports. Italy's Kinetics Technology has been awarded a contract to build a naphtha hydrotreater and platformer. Sonangol is also in the process of building a fluid catalytic cracker along with Italy's Eni.
* * Senegal's sole refinery in Dakar, which is currently undergoing maintenance and upgrade, is due to restart in April, according to panelists at the ARDA conference. It is building a new preflash unit and expanding the catalytic reformer. The refinery started a four-month maintenance in November, due to continue until March, during which the refinery would align new units with existing equipment, S & P Global has reported. The upgrade is part of the refinery's capacity expansion as well as adaptation of units to process Senegalese crude oil. The Dakar refinery has plans to increase its capacity to 1.5 million mt/year.
* * Construction of the hydrocracker complex at Egypt's Assiut is expected to be completed in Q4, 2023, according to a statement on the website of Egypt's petroleum and mineral resources ministry. A $ 1.5 billion financing agreement has been signed with six banks and international lending institutions to finance the Assiut Hydrocracking complex which will convert fuel oil into high value products.
TechnipFMC said in late 2020 that it had `` successfully completed the remaining conditions to enable work to commence '' on its contract for the engineering, procurement and construction of the new hydrocracker. The contract includes process units such as vacuum distillation, diesel hydrocracker, delayed coker, distillate hydrotreater and a hydrogen production facility. The project also includes other process units as well as interconnecting. It will transform lower value products into about 2.8 million mt/year of cleaner products, such as Euro 5 diesel.
The upgrade at Assiut includes the installation of 880,000 mt/year continuous catalytic reforming and isomerization complex, a 400,000 mt/year vapor recovery unit and a 2.3 million mt/year hydrocracker.
* * NNPC said early January 2022 that it remained on track to complete rehabilitation of the Port Harcourt refinery located in the southern Rivers state on schedule, despite a recent fire outbreak at the facility. The Port Harcourt refinery has been shut down since late 2020 for a major overhaul aimed at restoring the facility to optimum performance. The repair work on the refinery, which is being handled by Italian engineering company Tecnimont, began in April 2021 and NNPC had said previously that the first phase of the exercise would be completed in 18 months.
Nigeria's refineries, which include the northern Kaduna and the Warri refineries, have been shut for repairs since early 2019, and NNPC expects them to operate at around 90% of capacity when repairs are completed and they resume production by 2023.
But this timeline is expected to be pushed back as 2020 saw numerous delays, exacerbated by the coronavirus pandemic. Repairs at the Warri and Kaduna plants would commence immediately after Port Harcourt.
* * State-run Indeni Oil Refinery, Zambia's only refinery, has plans to double its capacity to 2.2 million mt/yr once rehabilitation works are completed. This will be up from the current capacity of 1.1 million mt/year.
* * Kenya is considering converting its shuttered Mombasa refinery to a biofuel plant using technology provided by Italy's Eni. The Mombasa refinery, Eastern Africa's sole refinery, was shut down in 2013. Kenya is deciding upon a location for a new refinery in either Lamu or Mombasa.
* * The European Bank for Reconstruction and Development has reviewed a provision of up to $ 250 million sovereign loan to the Alexandria Petroleum Company to finance resources and energy efficiency investments and other modernization investments. The project includes the installation of a new vapor recovery unit, continuous emissions monitoring system and a burner management system. An expansion program at Egypt's Middle East Oil Refinery near Alexandria is on track for 2022, which will push capacity to 160,000 b/d.
* * The European Bank for Reconstruction and Development, or EBRD, approved a $ 50 million loan for an upgrade of Egypt's Suez refinery aimed at introducing cleaner fuel and reducing CO2 emissions.
* * The second phase of the new Cabinda refinery is due for completion in 2023 and will be followed by the third phase. Some 44% of the engineering is currently complete and equipment for the first phase will arrive from Houston in June 2022, a company source said at the ARDA conference. Under its first phase, which will be completed in July, Cabinda will process 30,000 b/d. The second and third phase will see capacity expanded to 60,000 b/d and the addition of a catalytic reformer, catalytic cracker and hydrotreater. Construction of the refinery, built by Gemcorp, involves a first phase, which includes construction of a CDU, desalter unit, kerosene treatment unit and ancillary infrastructures including a conventional buoy mooring system, pipelines and storage facility for over 1.2 million barrels.
* * Preparations for the construction of the Soyo refinery in Angola are underway. Construction will start in April and is expected to be completed in 2025.
* * Sonangol expects to complete the Lobito refinery project in September 2026-February 2027, a company source said at the ARDA conference. The project was halted in 2016 but has since resumed. The FEED study for a single train refinery with a hydrocracker will be completed in December 2022.
* * The expected start-up of Uganda's planned 60,000 b/d oil refinery has been delayed to 2027 due to disruptions caused by COVID-19, Ruth Nankabirwa, Uganda's energy minister, said March 21. It was expected to come online in 2024-25. Nankabirwa said the Albertine Graben Refinery Consortium ( AGRC) had made significant progress in pre-final investment decisions and planned to expedite all pending activity so the refinery's final investment decision is undertaken by the end of next year. The refinery will be built at Kabaale in Hoima District, near the Lake Albert oil fields, and will also have a 211 km long multi-products pipeline that will ship refined products such as gasoline, LPG and kerosene to a storage terminal near the capital Kampala.
* * The Dangote refinery in Nigeria is mechanically complete and undergoing test runs, and should be ready for operations sometime in the second half of the year, according to company officials. `` Mechanical work on the refinery is complete and hopefully before the end of third quarter we should be in the market, '' the president of Dangote Group, Aliko Dangote, said at an event at the refinery on Jan. 22. ''The plant will start with a processing capacity of 540,000 b/d. Full production can start maybe by the end of the year or beginning of 2023. '' A company official told S & P Global Platts that the official start-up will be dependent on the test runs. Test runs are expected to end by the third quarter, after which production of refined products will start.
`` Barring any hitches during this period of the test run of the units, the refinery will start refining crude into oil products by the fourth quarter of this year, '' the official said Jan. 24.
The start-up date of the refinery, which was first announced in 2013, has been repeatedly delayed. The project suffered some delays last year due to the coronavirus pandemic.
* * The Edo refinery, in Ikpoba, Edo State, Nigeria, is currently in the process of expanding its capacity to 36,000 b/d, according to a source close to the refinery. The 6,000 b/d modular refinery was launched in September 2021 and is running at full capacity. Its production includes 50% gasoil, 28% naphtha and the rest is 0.5% fuel oil. The expansion is expected to be completed in 2023. Upon the completion, the refinery will be producing naphtha, ULSD, ULSFO and LPG.
* * South Sudan's Bentiu refinery near Juba in Unity state, which started operations in March 2021, is still running at 3,000 b/d but the government is aiming to boost runs to its nameplate capacity of 10,000 b/d, according to South Sudan's Minister of Petroleum Puot Kang Chol. Bentiu had been offline since 2014 after suffering damage in clashes connected to the country's civil war. Repair and upgrading works had been due to finish by the end of 2019 but did not meet this deadline and then travel restrictions due to the COVID-19 pandemic led to evacuation of engineers at the site in early 2020, causing further delays.
* * South Sudan is planning to build four more refineries by the end of this decade to increase its refining potential. Trinity Energy was in advanced preparations to start building a 40,000 b/d refinery near the Palouch oil fields in the Upper Nile. Construction was planned to start in the first quarter of 2019, but COVID-19 and electricity power outages delayed it. One of the refineries is set to be based in Tharjiath.
* * The Angolan government has launched a tender process for companies interesting in investing in the country's biggest refinery project in Lobito in southern Angola. Sonangol said it had already carried about economic feasibility studies, the dredging of Lobito bay, and other technical work that `` will allow potential partners to act more effectively. '' The project was initially canceled in 2016 only to be revived a few years later. Sonangol is now banking on this refinery coming online in 2025.
* * Algeria's Sonatrach expects the Hassi Messaoud refinery to start operations in 2024.
Construction was launched at the beginning of 2020 and the refinery's start-up has been expected for H2 2024. Sonatrach has contracted with Spanish and South Korean consortium Technicas Reunidas-Samsung Engineering to build the new refinery. Hassi Messaoud, Biskra and Tiaret had been part of the government's 2021-24 oil sector plan, with each refinery intended to have a 5 million mt/year capacity.
However, investment decisions on the refinery projects in Biskra and Tiaret would not be made before 2025.
* * KBR has been awarded a front-end engineering design, or FEED, for Bua Group's new, modern refinery facility in Nigeria. Bua Group plans to build a 200,000 b/d integrated refinery and petrochemical plant in Akwa Ibom, according to its website. The plant aims to produce Euro 5 fuels and polypropylene for the domestic and regional markets.
* * Modular facilities in Nigeria are nearing completion, including the 10,000 b/d plant in Port Harcourt, Rivers State and the 10,000 b/d modular refinery Ibigwe, in Imo State.
* * Nigerian National Petroleum Corp., or NNPC, is close to taking a final investment decision ( FID) with some investors to build a 50,000 b/d condensate refinery. NNPC signed the front-end engineering design for the construction of the plant -- which will be in the Niger Delta -- with engineering firm KBR. NNPC first announced in August 2018 plans to build a condensate refinery with capacity to refine 200,000 b/d of the condensate oil produced by the country.
* * Nigeria commissioned in 2020 the country's first modular oil refinery, built in Imo state by Waltersmith. The commissioning involved the first phase of the refinery with a capacity to refine 5,000 b/d of crude. It would eventually raise capacity to 45,000 b/d.
* * Nigeria has reached an agreement with neighbor Niger to build an oil refinery in a border town between Niger and Katsina state in northern Nigeria.
* * The Ministry of Hydrocarbons of Guinea has signed a memorandum of understanding with logistics firm United Mining Supply to set up an oil refinery. UMS has said it will carry out a feasibility study to construct a refinery in Moribayah.
* * Africa Finance Corp., or AFC, has signed an agreement with Brahms Oil Refineries Ltd. to co-develop a refinery and storage terminal in Guinea. AFC will work on the development and subsequent financing of a petroleum storage and associated refinery project in Kamsar, Guinea. This will include a 12,000 b/d modular refinery, a 76,000 cu m crude oil storage terminal, a 114,200 cu m storage terminal for refined products, and ancillary transportation infrastructure. Guinea currently has no refineries.
* * The construction of Republic of Congo's Atlantic Petrochemical Refinery project has begun. The government signed a deal with China's Beijing Fortune Dingsheng Investment Co. Ltd., or BFDI, to construct a 2.5 million mt/year refinery in the port city of Pointe Noire. The Chinese company is also keen on launching a petrochemical complex in the country. The African oil producer currently has only one refinery, the 27,000 b/d CORAF plant, which is also located in Pointe Noire.
* * The Cameroon government is looking to build a new refinery in the southern port city of Kribi with a capacity of 4 million mt/year after operations at its sole refinery in Limbe were crippled due to a major fire in 2019. Kribi has been chosen as the site as it is already home to the country's main crude export terminal.
* * Equatorial Guinea's 5,000 b/d modular oil refinery project at Punta Europa is expected to receive an FID in Q1 2022. The government is hoping to build two modular refineries in the country, one at the Punta Europa complex on Bioko Island, and the other at Cogo on the mainland.
* * Benin is looking to launch the construction of a new refinery. A committee will look at the feasibility studies for the project and will also analyze the market prospects until 2030. The project will be developed as a public-private partnership.
* * Russian state development bank VEB has signed investment cooperation deals with African organizations on financing a refinery in Morocco. The memorandum on the oil refinery in Morocco was signed with the Russian Export Group and Morocco's MYA Energy, part of the Marita Group. The refinery has a planned capacity of up to 5 million mt/year. Morocco's sole refiner Samir was forced to halt processing at the Mohammedia plant in 2015 after crude oil deliveries were delayed due to financial problems. Since then attempts to resume operations or find an investor have been unsuccessful.
* * A consortium of Russian investors is planning a $ 4 billion project for a new refinery in Northern Zambia at the site of the country's aging state-owned Indeni plant.
* * Russian state-owned exploration company Rosgeologia is considering building the Red Sea Coast refinery in Port Sudan, which would supply landlocked countries in Africa. Sudan had begun discussions to develop a 200,000 b/d refinery on its Red Sea coast. The project's timeline has not yet been disclosed.
The only refinery currently operating in the country is the Khartoum, after the Port Sudan refinery closed in 2013 and was decommissioned.
* * Ghana's ministry of energy is in the process of submitting a proposal to build a new refinery in Tema. It will replace the 45,000 b/d Tema Oil Refinery.
Separately, the government has set its sights on building a 150,000 b/d refinery in Takoradi.
등록은 쉽고 무료입니다. 아래 버튼을 클릭하시면 되고, 등록 절차가 완료되면 다시 이 페이지로 돌아옵니다. | business |
As the energy crisis bites, could fracking ever actually work? – podcast | The average family’ s energy bill will soon be increasing by 54% in the UK, amid soaring energy prices caused in part by Covid-19 lockdowns and Vladimir Putin’ s decision to reduce gas exports prior to Russia’ s invasion of Ukraine. In response, the UK government is considering all its options to secure its energy supplies and dampen costs – including fracking. But could fracking really provide any kind of solution? Anand Jagatia speaks to the Guardian’ s environment editor, Damian Carrington, about how fracking works, why it is back on the table, and whether it could ever be a viable option
How to listen to podcasts: everything you need to know
Presented and produced by Anand Jagatia with Damian Carrington, sound design by Rudi Zygadlo, the executive producers were Danielle Stephens and Max Sanderson
Tue 22 Mar 2022 05.00 GMT
Archive: ITV News, Channel 4 News, On Demand News
The Guardian is editorially independent. And we want to keep our journalism open and accessible to all. But we increasingly need our readers to fund our work. | general |
Regionalization - Municipal and Provincial Affairs | Overview
Healthy, sustainable communities are the building blocks of a prosperous province. Globally, the most successful and thriving municipal governments function within a collaborative regional approach, also known as regionalization. Government has been working with partners to explore regionalization as a potential solution to help build and support vibrant, sustainable communities.
Across Canada, regional governance and service sharing exists on a spectrum. Within that spectrum, there are various models with different forms of governance/ representation and service provision. There is no limit to potential configurations of regional governments and/or service sharing. Regionalization is an opportunity for communities to work together on areas of shared interest for the benefit of an entire region. By pooling resources, regional governments enhance capacity beyond what a single, small municipality can offer.
In 2020, a Joint Working Group on Regionalization was established to build on public consultations and research that have occurred and to make recommendations to the Minister of Municipal and Provincial Affairs on a plan for regionalization. The group was comprised of representatives of Municipalities Newfoundland and Labrador, the Professional Municipal Administrators and representatives from the Department of Municipal and Provincial Affairs.
The Joint Working Group Report and Recommendations on Regionalization can be found here. A thorough review and analysis of the recommendations will be conducted by Government with the goal of finalizing a comprehensive plan for regionalization for the province.
Consultations
Consultations on regionalization have been held including 22 in-person sessions, an on-line questionnaire, and written and telephone submissions. Over 700 residents participated in the in-person engagement sessions and nearly 6000 individual ideas and comments were collected. Most recently, an online survey was conducted with Local Service Districts and Unincorporated Areas.
Benefits
Some of the benefits of regionalization that have been identified through consultation and research include:
Frequently Asked Questions and Answers
The Joint Working Group was established to build on consultations and research that have occurred and to make recommendations to the minister on a plan for regionalization. The group was comprised of representatives of Municipalities Newfoundland and Labrador, the Professional Municipal Administrators and representatives from the Department of Municipal and Provincial Affairs. The regionalization report and recommendations is a product of the Joint Working Group.
The report and recommendations were released on February 2, 2022. Government is now undertaking a thorough analysis of the recommendations with the goal of finalizing a comprehensive plan for regionalization for the Province.
The report recommends a regional governance structure that would provide an overarching governing body for a geographical area in a county-type of model. Municipalities within each region would participate in the regional council, while maintaining their autonomy, and the regional council would provide local governance and services to residents in LSDs and UIAs. Municipalities that are struggling and not necessarily viable would have the option of dissolving into a regional council, and LSDs that are strong and functioning well, would have the option of becoming a municipality where feasible.
The first order of business is for Government to do a thorough review and analysis of the recommendations and finalize a comprehensive plan for regionalization for the province. As part of that review, we will consider the recommendations, process and timelines recommended in the report. The focus is on developing a plan that will work for residents, communities and the province overall. It is likely that any significant regionalization efforts will take 2 to 3 years for full implementation.
Unlike municipalities, LSDs and residents in UIAs, have chosen not to have a provincial association that represents them, nor staff working on their behalf. Given the sheer number of LSDs in the province, their geographical sparsity and unique need, it was not practical to have representation on the Working Group.
LSDs however have been engaged in the regionalization process since 2017, through in-person consultations and online questionnaires. The Working Group’ s mandate required the engagement of residents living in LSDs and UIAs. In order to meet this requirement, the Department, on behalf of the Working Group, conducted a local services questionnaire that was launched on the EngageNL website during the late summer/early fall of 2021. A notification circular was sent to all LSDs in the province to encourage participation. Due to COVID – 19 health protocols it would have been very difficult to have in-person sessions in addition to the EngageNL questionnaire. The Department also accommodated all LSDs that requested paper copies of the survey and accepted all information provided.
There were over 300 responses, which represents a significant portion of LSDs and residents in UIAs. The results of the survey may be found on the EngageNL website here.
In August 2021, the Department of Municipal and Provincial Affairs mailed a notification circular to all LSDs in the province to advise of the EngageNL local service questionnaire and encourage participation from residents and LSD committees.
As we move forward, residents, LSD committees, municipalities, Indigenous governments and communities and stakeholders will have opportunities for input into what regionalization will look like for them in their particular region of the province, and will have a voice in the services that will be offered and how those services are delivered. Regardless of what the ultimate model of regionalization will look like, residents will have a voice in the services that will be offered and how those services are delivered.
Currently, in Newfoundland and Labrador, with a population of approximately 510,550, there are 275 municipalities, 172 local service districts and 120 unincorporated areas. Approximately ninety per cent ( 90%) of communities have less than 1,000 residents.
The number of communities and a duplication of services has created inefficiencies. In addition, many municipalities are experiencing administrative and financial strain. Towns are facing significant challenges, such as ageing populations, out-migration, uncontested elections, the ability to form committees and councils, and a lack of economic opportunities.
Demographics continue to be a challenge across the province. Over 200 municipalities experienced declining populations from 2016 to 2021, with 82 municipalities’ population declining by over 10%. Compounding population decline is an aging population. In 2016, the median age was 46, up from 38 in 2001 and 30 in 1991.
Some municipalities are struggling to deliver services and to remain viable. Many towns are becoming unsustainable and unable to engage in economic development or attract new residents, businesses and professionals, such as health care providers. If we do not change how we do things, many communities will continue to lose key services, infrastructure and economic opportunities. We want vibrant and sustainable communities that work together to enhance the quality of life for all residents. In a modern society, residents expect good governance, with modern and progressive services such as access to clean drinking water as well as fire and emergency services.
Regionalization is NOT amalgamation. Amalgamation is the process of uniting one or more municipalities and/or communities into a new local governance structure. Whereas, regionalization is several communities in a given geographical area working collaboratively together to provide representation and equitable services to the residents of the region.
The goal of moving to regionalization is to provide a local voice for all residents while ensuring they receive appropriate and enhanced levels of services. Additional benefits include better integrated planning, more transparent and accountable municipal governments, improved administrative and operational capacity, fair and equitable taxation, and the ability to attract and welcome new residents, professionals and tourists just to name a few. Many communities may also benefit from reliable road maintenance and snow clearing, water system monitoring and fire protection.
Cities will not see much impact from regionalization since they already provide the full array of services to residents. A regional council could help support cities by administering inter-municipal agreements related to issues such as economic development or fire protection. Cities may be able to sell their services such as land use planning, or economic development officers and professional expertise to the regional councils.
Increased professionalism and organization in the sector will enable cities to work with others to focus on more substantive issues. In addition, it will create better integrated planning and lead to increased learning opportunities and collaboration.
By working collaboratively, communities may be able to achieve economies of scale, and offer better quality, efficient and cost effective service delivery.
Municipalities can benefit from services provided by regional councils such as professional land use planning, economic development officers, fire and emergency services, by-law enforcement and animal control. In addition there will likely be opportunities for cost-savings through economies of scale for such services as road maintenance and snow clearing, water and sewer systems, recreation facilities and infrastructure development to name a few.
There are already great examples of communities sharing services and they are seeing the benefits, such as access to regional economic development opportunities; economies of scale; fire protection services; land use planning; and infrastructure planning, including water systems. Building upon existing collaborations and service sharing will help position communities for economic growth and the ability to be sustainable
Residents will have access to a larger number of services and benefit from sharing existing services. Currently, residents living in LSDs are limited in the number of services LSD committees are able and allowed to provide on a fee for service basis, LSDs have limited ability to collect fees and enforce collection of fees. In addition, LSDs are limited in that they do not have the authority to levy property taxes to enhance or provide additional services. While many LSD committees have a vibrant volunteer base, there are other communities in which committees are inactive and as a result, there is no local voice or ability to provide services for the residents in those communities.
Residents living in UIAs have no local representation/voice; they are not entitled to any local services, and must personally contract for services such as fire protection and waste management from neighbouring municipalities, LSDs and/or private contractors. Many residents can not access necessary services such as fire and emergency protection at all. For example, something as simple as a lack of civic addressing could impede first responders in locating and assisting residents in an emergency.
The majority of LSDs and UIAs are not covered by a municipal land use plan and development regulations. They have no ability to direct or control development within their boundaries. This often leads to land use conflicts between neighbours. For example, an individual using their property for as a scrap yard next door without any buffer to a residential home; or, an industrial business establishing itself next to a residential area. A regional land-use plan would help alleviate any conflicts and provide development regulations.
No, the regional Government will be the only form of government for residents of LSDs and UICs. Currently, residents living in UIAs have no local government, while some LSDs and smaller municipalities struggle to fill vacancies on their local committees or council. A regional structure would be complementary to municipal governments; not a duplication, providing governance and services for LSDs and UIAs which currently have no form of local government. In addition, a regional council could also support municipalities where such a need is identified
No, any property tax paid by residents in a region will go directly towards services provided in that region. The primary goals of regionalization include providing better and equitable services to all residents in NL, while ensuring everyone pays their fair share for these services; not saving taxpayers money. Any savings resulting from regionalization would come from economies of scale and long-term planning that may be re-directed to strengthening regional services. Provision of services on a regional scale, such as economic development, land use planning, by-law enforcement, and asset management contributes to economic growth, strengthening provincial and local economies. Regionalization is about ensuring viable, strong communities into the future with a long-term outlook.
The Joint Working Group Report and Recommendations on Regionalization recommends that the taxes and fees collected from residents living in the region would fund regional councils and support services provided by a regional council. Residents would only pay for the services they receive. These taxes and fees would not be directed to the provincial government, unless the province provides services such as road maintenance and snow clearing.
The department realizes there will be funding required to establish strong regions. As government decides on a model for regionalization, additional funding options will be considered. Some of these options may include access to municipal capital works programs and municipal grant programs.
All recommendations in the report are now undergoing a thorough review and analysis. Newfoundland and Labrador is the only jurisdiction in the country that does not collect some form of property tax from residents. Exploring a structure in which everyone pays an equitable share toward the cost of providing and maintaining services, such as administration, road maintenance, snow removal, animal control, waste management, fire protection is part of this review. If a property tax is implemented across the province it would NOT be in addition to existing fees for service, it will replace existing fees for service. For many services the cost per household will decrease through service sharing and economics of scale.
While some residents of LSDs, UIAs and cabin owners pay fees for some services, not all services are provided equally or at the same level. For example, the province provides snow clearing at no cost to residents of many LSDs; whereas, local roads in municipalities are maintained by municipalities through property taxes collected from residents. Some municipalities currently pay $ 6,600 per KM for the province to clear local roads where required.
Services such as land use planning, economic development, municipal enforcement and emergency management are key to sustaining communities over the long term. Over the past ten years many areas of the province have seen population declines of over 20%. While there would be an associated cost with these services, by sharing them among a number of communities the cost per household would be low.
For additional services such as animal control, road maintenance, recreation or community development it would be up to each region to determine the level of services it provides to residents. As a higher level of service is provided, the cost per household would increase.
Newfoundland and Labrador is the only jurisdiction in the country where all residents do not pay property tax, including on cabins/cottages and secondary properties. How services are provided and who pays for those services are things that must be considered and conversations that must happen, including property tax for cabin areas and secondary properties.
Government is conducting a thorough review and analysis of the report and recommendations which will inform and comprehensive plan for regionalization for the province.
There will be no double taxation. In the recommended regional government structure, residents of municipalities would continue to pay property taxes directly to their municipal councils. Residents would not be responsible for paying additional taxes to the regional body. Rather, the regional council would charge the municipality for services rendered. In turn, municipalities pay these fees with revenue raised through municipal taxes.
The goal of regionalization is not to generate revenue, but to support well-serviced, sustainable communities for current residents and for young families and newcomers to attract them to make these communities home. Any form of regionalization would be democratic with a regional council responsible to the electorate. Taxes collected would support services offered through regional governments only. This would be the case under any form of regionalization. People would only pay for the services they receive.
The report recommends that as a minimum a regional council provide land use planning, economic development, emergency planning including fire protection, and by-law enforcement to all communities within the region. Where financially feasible and communities within the region agree, other services may be provided such as, but not limited to, professional engineering services, recreation, road maintenance and animal-control.
Municipalities may also provide these services within their boundaries; however, the report recommends that they would contribute to the region for mandatory services. It also recommends that municipalities will continue to retain the authority to provide additional services as they see fit. Municipalities may still enter into cost-sharing agreements with other municipalities with respect to services.
The regional council may also be able to assist with the administration of inter-municipal and/or cost sharing agreements such as regional fire services.
Any taxation, if implemented would not be in addition to current LSD fees, but would replace fees. People would only pay for the services they receive. In many cases existing service fees exceed similar costs in municipalities across the province. For instance, water fees of up to $ 400 and waste disposal fees in the $ 300 range exist in some LSDs. Under regionalization through economies of scale and service sharing these costs per household will likely decrease. Fire protection costs will also decrease for many residents as the cost is shared across a larger number of households.
Yes, your community identity and culture will exist the same as it does now under any model of regionalization. The report recommends that residents of LSDs and UIAs be governed by and receive services from a regional council. In addition, it recommends that all communities would maintain their name and identity. It also recommends that viable, strong LSDs would be encouraged to be assessed to become incorporated as a municipality, if they wish to do so.
These recommendations are now undergoing a thorough review and analysis which will help in the development of a final plan for regionalization for the province.
As part of the review and analysis of the JWG on Regionalization Report and Recommendations, the Department is working with the Regional Analytics Laboratory ( RAnLab) at Memorial University to explore provisional regional boundaries based on multiple data sets. These include but are not limited to population, distance between communities, service hubs, tax base assessments, and emergency services coverage data. Several other factors will also be considered including emergency services coverage, boundary alignments, school catchment areas, communities of interest, natural boundaries, service reach, current service/infrastructure cost sharing arrangements, urban and rural realities, and population movement patterns. Previous and current interest in community restructuring will also be considered.
As we move forward, residents, LSD committees, municipalities, Indigenous governments and communities and stakeholders will have opportunities for input into what regionalization will look like for them in their particular region of the province, and will have a voice in the services that will be offered and how those services are delivered.
Provisional regional boundaries will be shared with stakeholders and the public for discussion and input.
Approximately 46,000 residents or 9 per cent of the total population of the province live in LSDs and UIAs and are not subject to property tax, but in many cases pay for a fee for service. In addition, there are businesses located in these communities who also do not pay property tax.
Some municipalities do not collect property tax, but collect a poll tax instead. There are currently approximately 46 municipalities using this approach.
The department realizes there will be funding required to establish strong regions. As government decides on a model for regionalization, additional funding options will be considered. Some of these options may include access to municipal capital works programs, reprioritizing existing funding and municipal grant programs.
Regionalization will not result in a loss of community identity. Community names and identities will remain the same regardless of the approach or model.
One of the pillars of regionalization is to strengthen economic development opportunities for the Province as a whole. A potential missed opportunity in rural areas across the province is economic development opportunities including tourism, as well as the expertise in the development and familiarity with the various funding programs and application processes. A regional council would enable communities come together and collaborate to attract tourism investments and apply for funding opportunities that support regional approaches. By working together, communities will benefit and will no longer be competing for tourism investments.
The department will be working across several government departments, Including Tourism, Culture, Arts and Recreation, Transportation and Infrastructure, and Industry, Energy and Technology to ensure the best outcomes for communities, residents and the province as a whole. | general |
Evergrande's crisis continues: $ 2 billion seized by banks, earnings delayed |
Banks have seized $ 2 billion in cash from Evergrande, the ailing Chinese real estate developer said Tuesday as it announced a delay to the publication of its annual earnings.
Evergrande
said
that it won't be able to meet the March 31 deadline for publishing audited results for 2021, a year which saw it
default on its debts
as prices and activity in China's vast real estate sector slumped.
One of its units — Evergrande Property Services — said some of its lenders had unexpectedly claimed around 13.4 billion yuan ( $ 2.1 billion) of its bank deposits that were pledged as collateral for `` third party guarantees. ''
It didn't specify who the lenders were, saying only that the banks had taken control of the cash. The property services unit said it would establish an independent committee to investigate.
The real estate developer is one of China's largest and its most indebted with more than $ 300 billion of total liabilities, including about $ 19 billion outstanding offshore bonds held by international asset managers and private banks on behalf of their clients.
Read More
Evergrande was declared by Fitch Ratings to be in default in December — a downgrade that the ratings agency said reflected the company's inability to pay interest due on two dollar-denominated bonds.
Evergrande can't pay its debts. China is scrambling to contain the fallout
In 2020, Beijing started cracking down on excessive borrowing by developers in a bid to rein in their high leverage and curb runaway housing prices. But the sector's problems escalated significantly last fall when Evergrande began warning the markets urgently of liquidity problems.
There's
evidence
now that the Chinese government is taking a leading role in guiding Evergrande through a restructuring of its debt and sprawling business operations.
But some of the company's international creditors have been losing patience.
A group of overseas bondholders threatened in January to take legal action over the `` opaque '' debt restructuring process. They said they would `` seriously consider enforcement actions '' after Evergrande failed to engage substantially with them about reorganizing its operations.
Evergrande has another interest payment due on Wednesday.
The company said in its exchange filing that `` audit work has not yet been completed, '' and `` drastic changes '' in the operational environment and the Covid-19 pandemic had led to delays in preparing its earnings. It will publish them `` as soon as practicable '' after the audit has been completed, it said.
Another big Chinese real estate developer might need to sell off property
Other major developers are also having trouble meeting the March 31 deadline for earnings.
Sunac China
and
Shimao China
, which ranked No. 3 and No. 12 in property sales last year, said Monday that they would also have to delay publishing their annual results. Both cited Covid-related restrictions, such as quarantines and travel restrictions, for holding up the audit process.
Ronshine China, which was among the top 30 developers last year, also said it won't be able to file audited results by March 31 as its original auditor had resigned, according to
an exchange filing
by the company on Monday. Ronshine China said later that day it has hired a new auditor and will publish audited results `` as soon as practicable. '' | general |
Kingfisher: FY 21-22 full year results - PART 1 | Final results for the year ended 31 January 2022
Financial summary
% Total
% Total
% LFL *
Change
Change
Change
2021/22
2020/21
Reported
Constant
Constant
currency *
currency
Sales
£13,183m
£12,343m
+6.8%
+9.7%
+9.9%
Gross profit
£4,935m
£4,573m
+7.9%
+10.6%
Gross margin% *
37.4%
37.1%
+30bps
+30bps
Operating profit
£1,144m
£916m
+24.7%
Statutory pre-tax profit
£1,007m
£756m
+33.1%
Statutory post-tax profit
£843m
£592m
+42.3%
Statutory basic EPS
40.3p
28.1p
+43.4%
Net ( decrease) /increase in cash±
£ ( 237) m
£881m
n/a
Total dividend ( 1)
12.40p
8.25p
+50.3%
Adjusted metrics
Retail profit *
£1,148m
£1,003m
+14.5%
+16.7%
Retail profit margin% *
8.7%
8.1%
+60bps
+50bps
Adjusted pre-tax profit *
£949m
£786m
+20.9%
Adjusted post-tax profit *
£737m
£604m
+22.0%
Adjusted basic EPS *
35.2p
28.7p
+22.6%
Free cash flow *
£385m
£938m
( 59.0)%
Net debt * ( 2)
£ ( 1,572) m
£ ( 1,394) m
( 12.7)%
Highlights
Thierry Garnier, Chief Executive Officer, said:
`` Kingfisher has delivered a year of very strong financial performance. We saw growth in all banners and categories, with resilient demand from both DIY and DIFM/trade segments - each representing 50% of Group sales. We continue to leverage our stores assets and Group technology to drive forward our e- commerce proposition, with faster click & collect and home delivery, and broader product choices for our customers. 18% of our sales are now made online, which is ten percentage points higher than two years ago. B & Q had an outstanding year, with sales passing £4bn. It was also a record year of expansion for Screwfix, with 70 new stores opened in the UK and Ireland, and Screwfix France showing very promising early progress.
`` For the year ahead, while the macroeconomic and geopolitical environment is uncertain, you can expect from us continued focus on top line delivery and market share growth, strong execution, effective management of our gross margin, and active and responsive management of our operating costs.
`` We are now over two years into our new strategy and execution is ahead of schedule. With the business in a strong position, we are accelerating our investments for growth - through the launch of our scalable e-commerce marketplace, the expansion of Screwfix in the UK and France, new store openings in Poland, and our plans to increase our trade customer base. Looking forward, we are confident that these investments, supported by continued strong execution and the new demand-drivers we are seeing in our industry, will drive faster growth in sales, profit and free cash flow. ''
1
FY 21/22 Group results
Outlook for FY 22/23
Delivering against strategic priorities ahead of schedule
2
Footnotes
Non-GAAP measures and other terms
Throughout this release ' * ' indicates the first instance of a term defined and explained in the Glossary ( Section 6). Not all the figures and ratios used are readily available from the unaudited final results included in part 2 of this announcement. Management believes that these non-GAAP measures ( or 'Alternative Performance Measures '), including adjusted profit measures, constant currency and like-for-like sales growth, are useful and necessary to assist the understanding of the Group's results. Where required, a reconciliation to statutory amounts is set out in the Financial Review ( Section 5).
Contacts
Tel:
Email:
Investor Relations
+44 ( 0) 20 7644 1082
investorenquiries @ kingfisher.com
Media Relations
+44 ( 0) 20 7644 1030
corpcomms @ kingfisher.com
Teneo
+44 ( 0) 20 7420 3184
Kfteam @ teneo.com
Final results announcement
This announcement can be downloaded from the Investors section of our website at www.kingfisher.com.
Results presentation
We will host an in-person results presentation for pre-registered analysts and investors today at 09.00 ( UK time) at the London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS. A simultaneous live video webcast of the presentation and Q & A will also be available via the Investors section of our website at www.kingfisher.com, and subsequently available on demand. For enquiries, please email investorenquiries @ kingfisher.com.
'Teach-in ' event
Kingfisher is planning a hybrid in-person and virtual capital market 'teach-in ' event for analysts and investors on Tuesday, 5 July 2022. In-person attendance will be at a venue to be announced in London. The event will provide deeper insights into the e-commerce/technology and Responsible Business pillars of the 'Powered by Kingfisher ' strategy. Please hold the date and further details will be made available in due course.
Financial calendar ( ± Dates are provisional and may be subject to change)
Q1 trading update
23
May 2022±
Annual General Meeting
22
June 2022
'Teach-in ' event
5 July 2022±
Half year results
20
September 2022±
Q3 trading update
24
November 2022±
American Depository Receipts
Kingfisher American Depository Receipts are traded in the US on the OTCQX platform: ( OTCQX: KGFHY) http: //www.otcmarkets.com/stock/KGFHY/quote.
3
The remainder of this release consists of seven main sections:
Section 1: FY 2021/22 Financial performance summary, current trading and outlook
Income statement summary
£m
% Total
% Total
% LFL
Change
Change
Change
2021/22
2020/21
Reported
Constant
Constant
currency
currency
Sales
13,183
12,343
+6.8%
+9.7%
+9.9%
Gross profit
4,935
4,573
+7.9%
+10.6%
Retail profit:
UK & Ireland
794
681
+16.6%
+16.7%
France
221
181
+22.5%
+28.0%
Poland
135
146
( 7.7)%
( 1.5)%
Iberia
12
3
n/a
n/a
Romania ( 1)
( 11)
( 14)
+21.3%
+16.4%
Other±
( 10)
-
n/a
n/a
Russia ( 2)
-
( 3)
n/a
n/a
Turkey ( 50% joint venture)
7
9
( 22.3)%
+8.8%
Other International *
133
141
( 5.8)%
+2.1%
Retail profit
1,148
1,003
+14.5%
+16.7%
Central costs *
( 60)
( 54)
n/a
Share of JV interest and tax
( 2)
( 3)
n/a
Operating profit
1,086
946
+14.8%
( pre-adjusting items)
Net finance costs
( 137)
( 160)
n/a
Adjusted pre-tax profit
949
786
+20.9%
Adjusting items
58
( 30)
n/a
Statutory pre-tax profit
1,007
756
+33.1%
4
LFL sales by quarter
Quarterly sales
% LFL Change
Q1 21/22
Q2 21/22
Q3 21/22
Q4 21/22
FY 21/22
UK & Ireland
+65.0%
+3.8%
( 3.5)%
( 2.9)%
+11.8%
- B & Q
+81.9%
( 1.2)%
( 5.6)%
( 2.0)%
+12.3%
- Screwfix
+39.0%
+15.9%
+0.2%
( 4.2)%
+10.9%
France
+101.7%
( 8.4)%
( 4.3)%
( 4.2)%
+9.3%
- Castorama
+101.8%
( 8.5)%
( 6.1)%
( 7.1)%
+7.2%
- Brico Dépôt
+101.7%
( 8.2)%
( 2.3)%
( 0.9)%
+11.6%
Other International
+5.9%
+4.0%
+5.3%
+7.5%
+5.5%
- Poland
( 12.0)%
-
+4.9%
+6.8%
+0.3%
- Iberia
+112.3%
+15.0%
( 1.9)%
+13.8%
+23.2%
- Romania ( 3)
+27.4%
+14.0%
+17.2%
+2.6%
+15.0%
Group LFL ( 4)
+64.2%
( 0.8)%
( 2.4)%
( 1.7)%
+9.9%
E-commerce sales ( 5)
+62.9%
( 6.5)%
( 7.8)%
( 12.1)%
+5.3%
2-year LFL sales by quarter
Quarterly sales
% 2-year LFL Change
Q1 21/22
Q2 21/22
Q3 21/22
Q4 21/22
FY 21/22
UK & Ireland
+38.6%
+24.1%
+15.7%
+16.0%
+23.8%
- B & Q
+42.3%
+26.5%
+17.1%
+20.2%
+26.9%
- Screwfix
+32.5%
+18.7%
+13.0%
+9.9%
+18.2%
France
+18.1%
+16.4%
+14.1%
+10.5%
+14.8%
- Castorama
+13.9%
+14.7%
+15.7%
+12.0%
+13.9%
- Brico Dépôt
+22.7%
+18.4%
+12.4%
+9.0%
+15.9%
Other International
( 11.0)%
+16.3%
+15.3%
+13.8%
+9.2%
- Poland
( 20.5)%
+15.0%
+12.7%
+12.5%
+5.3%
- Iberia
+12.1%
+13.8%
+15.9%
+17.0%
+14.6%
- Romania ( 3)
+16.6%
+39.2%
+29.2%
+17.1%
+28.0%
Group LFL ( 4)
+22.5%
+20.0%
+15.0%
+13.7%
+18.1%
E-commerce sales ( 5)
+257.2%
+179.0%
+132.7%
+123.1%
+170.6%
Operational status summary
While all stores remain open across the Kingfisher Group, the operational status of our stores in FY 21/22 has evolved in line with the prevailing COVID-related restrictions and government advice within our markets. Kingfisher remains committed to meeting the needs of our customers safely, and ensuring colleague safety and wellness.
In the United Kingdom, restrictions imposed from late December 2020 meant that discrete areas of certain B & Q stores ( e.g., showrooms in England, Wales and Scotland) were temporarily closed until early-to-mid April 2021. During this period of restrictions, B & Q operated a virtual sales model for kitchens and bathrooms.
In France, from late January 2021, the government gradually instructed certain regions ( départements) with higher COVID infection rates to implement additional containment measures. A national lockdown took effect on 3 April 2021, resulting in the temporary closure of non-essential retailers.
While Castorama and Brico Dépôt stores retained their 'essential ' retailer status, some départements required us to close larger stores even before the national lockdown. Most of these temporary store closures took effect from early March 2021, resulting in up to 26 Castorama and four Brico Dépôt stores being temporarily closed for in-store browsing and purchasing. Following the commencement of the national lockdown on 3 April, all other Castorama and Brico Dépôt stores were impacted by the
5
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Brazil waives ethanol import tariff; US import arbitrage remains closed | The Brazilian government has waived until Dec. 31 its 18% import tariff for a handful of products, including ethanol and soybean oil, considered highly relevant to lowering inflation in the country.
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The waiver is aimed at reducing the inflationary impact of high international fuel prices after the coronavirus pandemic and amid the Russia-Ukraine war that has spurred higher crude oil prices and transportation costs, the Ministry of the Economy said March 21 in an official note.
Brazil goods and services are mostly transported by roads, so high fuel costs will have an immediate impact on its entire inflation basket, including foods and basic services.
Despite the withdrawal of the import tariff and high domestic ethanol prices, the steep devaluation of the Brazilian real against the US dollar is keeping the import arbitrage from US closed, even in the Brazilian Northeast, where most imports enter the country. According to S & P Global Commodity Insight's calculation, anhydrous ethanol imported from US and delivered March 22 into Suape port would land at Real 4,248/cu m, or Real 348/cu m higher than the Platts anhydrous DAP Suape assessment last published on March 18 at Real 3,900/cu m. In the scenario of 18% import tariff the imported product would land at Real 4,999/cu m.
Market participants do not expect any additional volume to be imported despite the zero tariff.
`` Ethanol prices in US are sky rocking, following the corn feedstock, '' said a US ethanol trader. `` There will be no change in the ethanol physical market. ''
In 2021, Brazil imported 447 million liters of ethanol, a plunge of 56% from 2020 and 75% less than the record high volume of 1.82 billion liters imported in 2017,
In addition to the closed arbitrage for imports from the US, Brazil's largest ethanol producing region, the Center-South, starts on April 1 its 2022-23 harvest season, increasing domestic ethanol availability and potentially lowering prices. The latest estimates from S & P Global point to a total volume of cane to be crushed in the Center-South at 555 million mt, up 5.7% on year, and total ethanol production, including corn at 29.3 billion liters, up 5.8% on year.
Combined with an increased domestic production, Brazilian fuel demand is still behind 2021 and high fuel costs in the country, combined with the economic uncertainties of a presidential election year, do not suggest any change in fuel consumption patterns in upcoming months.
A preview of the official light fuel consumption numbers until February is pointing to a total of 10.2 billion liters, down 12% on year, according to data from Brazil's ANP petroleum and biofuels agency.
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Record number of UK manufacturers to raise prices, says CBI – business live | Julia Kollewe
Tue 22 Mar 2022 13.07 GMT First published on Tue 22 Mar 2022 07.31 GMT
12.43pm GMT 12:43
EasyJet has become the latest airline to announce a relaxation of its mask-wearing policy.
From Sunday, passengers and crew will no longer need to wear masks onboard if this is not legally required at either end of the route.
This means mandatory mask-wearing will be dropped on UK domestic flights – excluding routes to and from Scotland, where face covering rules remain in place – and on flights between the UK and Denmark, Gibraltar, Iceland and Hungary.
The Luton-based airline said:
As a pan-European airline operating between over 30 countries, we must continue to ensure that we and our customers follow the legal requirements of all the countries we fly to.
This means when flying to or from countries where mask requirements remain in place, we will follow the relevant legal requirements.
We urge European governments to have a coordinated approach on the removal of the requirement where possible, to make it easy and clear for customers. We will aim to provide clear information to customers, including while onboard, detailing the specific mask requirements on their flight.
Several other airlines have relaxed their mask-wearing rules in recent weeks, including British Airways, Jet2.com and Tui Airways.
12.20pm GMT 12:20
Barclays said the disruption in energy markets since Russia’ s invasion of Ukraine ( which began nearly four weeks ago) could hamper its ability to meet its carbon emission reduction targets, while it toughened its climate commitments.
In a notice ahead of its annual investor meeting, the UK bank also said it was planning more restrictive polices on coal, including final exit dates on a “ progressive phase-out ” of thermal coal financing.
Other banks, such as HSBC, have also firmed up their climate commitments, under pressure from climate activists, who are often supported by major shareholders. Last week, HSBC said it would further reduce the financing it provides to the fossil fuel industry, publish more data on how it is implementing its goals, and link executive pay to progress made on that front.
Barclays said it would phase out financing of thermal coal mining by 2030 in 38 OECD countries and by 2035 in the rest of the world. The lender will also no longer take on new financing clients that generate more than 5% of their revenue from thermal coal mining from the start of next year.
However, Barclays also warned that the Ukraine crisis could undermine its efforts.
We should recognise that the conflict currently taking place in Ukraine has greatly exacerbated existing supply pressures on energy systems, particularly in the UK and the EU.
In the near term, the current disruptions may increase volatility in our progress towards our 2025 and 2030 emission reduction targets.
The bank said shareholders will be given a “ Say on Climate ” vote at its annual meeting in Manchester on 4 May.
12.07pm GMT 12:07
As part of our Russian asset tracker series, an ongoing project, Simon Goodley has taken a look at Roman Abramovich’ s £250m property portfolio.
The sanctioned Chelsea FC club owner, Roman Abramovich, and his family have amassed a UK property collection worth more than £250m, numbering about 70 homes, buildings and pieces of land.
And David Conn has looked at how the Russian businessman made his money: From poor orphan to billionaire oligarch.
Roman Abramovich’ s journey from an impoverished, orphaned childhood to Chelsea-owning billionaire was forged in the chaotic transformation of Russia itself, in the years after the iron curtain fell.
His elevation into an oligarch is unusually well documented, chronicled in painstaking detail in an English high court judgment of Lady Justice Gloster in 2012, when Abramovich succeeded in defending a lawsuit brought by his former mentor, Boris Berezovsky.
In the case, both men described their careers, and routes to becoming billionaires, as “ a uniquely Russian story ”.
11.48am GMT 11:48
The owner of B & Q and Screwfix is handing workers a pay rise as the company’ s boss forecast that demand for energy-saving kit and the shift to working from home would keep fuelling the DIY boom, reports our retail correspondent, Sarah Butler.
Pay for B & Q workers will increase by 6.5% to £9.80 an hour while Screwfix is increasing minimum staff pay by 5.4% to £9.70 an hour from 1 April, putting both chains just ahead of the new legal minimum of £9.50 which starts next month.
11.38am GMT 11:38
In other news, the national lottery operator, Camelot, has been fined £3.15m for three errors on its mobile app, which affected tens of thousands of players.
The first involved up to 20,000 users who were told their winning tickets had lost when they scanned a QR code between November 2016 and September 2020, the Gambling Commission said.
Updated at 1.07pm GMT
11.11am GMT 11:11
The proportion of British manufacturers expecting to raise their prices over the next three months has hit its highest level since records began in 1975, according to a monthly survey from the CBI, Britain’ s biggest business lobby group.
This underlines the scale of fast-growing inflation pressures. The balance of manufacturers expecting to put up prices rose to a record high in March ( +80% from +77% in February), a question first asked in Jan 1975. The measure deducts the number of firms saying they will raise prices from those saying they will lower them.
Manufacturers also reported higher order books this month, with the net balance matching November’ s all-time high of +26%.
CBI deputy chief economist Anna Leach said:
This survey highlights strong order books and output growth, but the cost pressures facing manufacturers have been amplified by the conflict in Ukraine.
The government must use tomorrow’ s Spring Statement to provide relief to both energy-intensive industries and vulnerable consumer.
The survey of 229 manufacturers was conducted between 24 February and 14 March.
Updated at 11.15am GMT
11.03am GMT 11:03
Oil prices have slipped back, with Brent now just over $ 115 a barrel while US light crude is just above $ 111, as European Union members are split on whether to join the United States in banning Russian oil.
Some, such as Germany, say the bloc is too reliant on Russian supplies, while the Baltic states and Poland have been urging a Russian oil embargo, as part of sanctions on Moscow.
European shares have moved cautiously higher. The FTSE 100 index in London has risen 39 points, or 0.5%, to 7,481. The German market has advanced 0.8% while France is up 0.7% and Italy is nearly 1% higher.
10.15am GMT 10:15
On the stock markets, shares are pushing cautiously higher. The UK’ s FTSE 100 has gained 39 points, or 0.5%, to 7,482 while Germany’ s Dax is 1% ahead, France’ s CAC has risen 0.76% and Italy’ s FTSE MiB is up nearly 1%.
The pan-European Stoxx 600 index has edged 0.5% higher, after posting its biggest weekly gain since November 2020 last week.
Crude oil has given up earlier price gains and is trading lower on the day in a volatile market. Brent crude has lost 1.3% to $ 114.09 a barrel while US light crude is off 2% at $ 109.8 a barrel.
10.10am GMT 10:10
While British and European natural gas prices are up a bit again today, they remain far below the record highs hit at the start of this month, when the British gas contract soared above 500p a therm and Dutch gas hit €200 per megawatt hour.
Panmure Gordon’ s chief economist Simon French says this means the UK energy price cap would rise by 13% in October, rather than 50% as feared – but this will obviously depend on where gas prices go from here.
Quietly UK natural gas prices have pulled back from more than 500p/therm in early March to close to 200p/therm today. Taking the fwd curve, the October price cap increase would be ~+13% rather than +50% speculated. This is backdrop to policy intervention: a v fast moving target!
Updated at 10.25am GMT
10.02am GMT 10:02
Yesterday was the first day this month when fuel prices did not rise to new record highs, according to the RAC motoring group.
RAC fuel spokesman Simon Williams said:
Monday marked the first day this month where average fuel prices didn’ t reach new record heights. Prices steadied with very slight reductions in both petrol and diesel perhaps indicating that retailers may have finished passing on their increased wholesale costs for the time being.
To put things in perspective for drivers the delivered wholesale price of petrol currently stands at £1.30 and diesel at £1.48. With prices this high before retailer margin and 20% VAT are added, it’ s clear we are in a tough place when it comes to being able to afford to drive.
This is why it’ s crucial the chancellor takes decisive and meaningful action in his spring statement that helps hard-pressed drivers and businesses.
Rishi Sunak is expected to announce a fuel duty cut, among other things.
Updated at 10.17am GMT
9.48am GMT 09:48
Parents already feeling the squeeze from higher food and energy bills could soon be facing higher childcare costs as nurseries struggle to stay open amid their own surging energy bills and higher staff costs, writes Jenn Selby.
Research found 95% of nurseries in England do not have enough funding to cover basic costs after Covid hit.
Hundreds of thousands of people of colour may be paying an “ ethnicity penalty ” of at least £280 a year each in higher car insurance costs, an investigation by Citizens Advice has claimed.
The national charity said its year-long investigation had uncovered a “ shocking trend ” of people of colour paying a lot more for motor cover than white people, and that the penalty was up to £950 in some locations, writes my colleague Rupert Jones on the Money desk.
Updated at 10.04am GMT
9.47am GMT 09:47
Here’ s our full story on Shell’ s reported U-turn on its exit from a controversial oil field off the Shetlands.
Climate activists have reacted with concern to reports that Shell is reconsidering its decision to abandon development of the Cambo oilfield, warning that such a reversal would further threaten emissions reductions targets, writes my colleague Jasper Jolly.
The fossil fuel producer could U-turn on a decision to pull out of the North Sea project because the “ economic, political and regulatory environment had changed enormously since the decision was announced just three months ago ”, according to sources cited by the BBC.
Mark van Baal, the leader of the campaign group Follow This, said a decision to develop Cambo would contravene guidance by the International Energy Agency, a respected global body. Last year the IEA said the exploration and development of new oil and gas must stop immediately if the world is to have any chance of limiting global heating to 1.5C, the target set at the 2015 UN climate talks in Paris. Shell has itself pledged to reach net zero emissions by 2050, but has not outlined detailed steps of how it will reduce its fossil fuel output.
“ Any new fields will be stranded if we are to meet the Paris climate targets, ” van Baal said, adding that Shell’ s pledge to reach net zero by 2050 would be “ really empty without action this decade ”.
“ We know this is a response to the Ukraine war, ” he said. “ The only good response to the Ukraine war is to replace Russian fossil fuels with renewables. ”
9.37am GMT 09:37
British and Dutch gas prices are rising again today in a volatile market, amid forecasts for colder weather.
The British gas for day-ahead delivery rose 10p to 219p per therm this morning, while the Dutch contract increased €1.88, or 2%, to €94.28 per megawatt hour.
Analysts at Refinitiv said:
The cold snap expected next week [ in Europe ] may lift residential consumption and provide a bullish signal to the prompt [ prices ].
However, fears over supply disruption have waned, as gas flows from Russia have remained steady, despite the escalating war in Ukraine.
9.31am GMT 09:31
Leaders from EU countries will agree at a summit this week to jointly buy gas, liquefied natural gas and hydrogen ahead of next week, according to a draft summit statement, seen by Reuters.
The invasion of Ukraine by Russia, Europe’ s top gas supplier, has sent energy prices surging and left the EU scrambling to cut Russian gas use this year – which will require higher imports from other countries such as Qatar and the United States.
The draft statement for the EU leaders’ summit on Thursday and Friday reads:
With a view to next winter, member states and the Commission will urgently... work together on the joint purchase of gas, LNG and hydrogen.
The draft statement said countries agreed to coordinate measures to fill gas storage and start doing so “ as soon as possible ”.
The European Commission last year had already proposed a system for EU countries to jointly buy strategic stocks of gas to provide a buffer against potential supply disruptions.
9.28am GMT 09:28
Investec economist Sandra Horsfield said:
The bigger question is, however, how resilient the economy will be to the indirect consequences of the war in Ukraine, which is hard to gauge accurately in such a fluid situation. This will influence how much support the government will have to offer, and also have important consequences for the outlook for public finances by shaping likely tax receipts.
Perhaps the most encouraging news from today’ s report, from the chancellor’ s perspective, will have been the sizeable downward revisions to back data, which lowered reported borrowing for the fiscal year-to-date by £13.2bn and also saw 2020/21 borrowing down by £4.1bn relative to previous estimates.
This leaves a fiscal-year deficit for 2021/22 of £150bn or perhaps even less entirely within play, far below the £183bn the OBR had pencilled in at the time of the Budget. Such a material undershoot will add to room for manoeuvre for Mr Sunak to help buffer some of the cost-of-living crisis at tomorrow’ s spring statement. | general |
How protected are we against Covid-19? Scientists search for a test to measure immunity |
In 2010, doctors told Ben Sobieck, now 37, that his kidneys were inexplicably failing. Shortly after, he had a kidney transplant and started on the lifelong medications that weaken his immune system to keep his body from rejecting the donor organ. They never figured out what caused Sobieck's kidney failure. But a decade later, he confronted another threat to his health: the Covid-19 pandemic.
`` I am on immunosuppressants that make me more vulnerable for serious Covid complications, '' said Sobieck, 37, who lives in Minnesota. `` If you're immunocompromised, you may not have a very good response to the [ Covid-19 ] vaccine. ''
Seeking evidence that his immune system was working the way it should, Sobieck made an unusual request: He asked his nephrologist to do a blood test that gives a rough measure of antibodies, a type of protein the body creates in response to an infection or vaccine. Antibody titers reveal the concentration of a specific antibody found in someone's blood.
Hybrid immunity offers increased protection that is longer-lasting against Covid-19 reinfection, studies show
Millions of Americans -- not just those with weakened immune systems -- are wondering about their protection after a winter of booster shots and Omicron infections. As mask mandates are lifted and restrictions removed in a step toward normalcy, a test to measure immunity would be a powerful tool to measure individual risk.
`` The biggest reason I wanted to get my antibody titer checked is because I don't know how to assess risk, '' Sobieck said. `` Anyone who is immunocompromised, from the beginning of this pandemic right through today, has very few tools to assess risk: if they're going to leave the house, when they're going to leave the house, how to interact with other people, which situations are OK. ''
Read More
Sobieck had his antibody levels checked after his second, third and fourth doses of the Moderna Covid-19 vaccine. Each result showed that he had more than the maximum number of antibodies the test could detect, indicating a robust immune response.
Although there is no specific guidance on how to interpret these results to figure out the level of protection against infection or disease, Sobieck felt reassured that his immune system was doing its job.
A fourth Covid-19 shot might be recommended this fall, as officials 'continually ' look at emerging data
`` More than 50% of transplant patients don't have enough immune response to be protected, even if they get not two but three doses of the vaccine that we use in the general population, '' said Dr. Dorry Segev, professor of surgery at New York University Langone Health. `` For them, [ an antibody titer ] is a particularly poignant indicator of whether they have any protection at all. ''
Segev, a transplant surgeon, advocates using tests that measure antibodies as a way to check immune protection in people who are immunocompromised.
Sobieck says the test results allowed him to make decisions for himself and his family.
`` Knowing that I had the antibody response that I had meant that my son could go to in-person school. That's huge, '' he
said.
Correlates of protection
About
95% of Americans 16 and older
have antibodies against Covid-19 as of December, the most recent date that data is available, according to US Centers for Disease Control and Prevention estimates that use information from blood donors.
But it's one thing to measure antibody levels. It's another to measure how much they protect you against Covid-19.
The US Federal Drug Administration recommends against checking antibody levels at all because there's no agreed-upon way to calculate how any given antibody level protects you from infection or severe disease. It may also give a false sense of security,
the agency says.
`` There aren't good correlates of protection -- something that says that this is the measurement that one needs to know how well they are protected, '' Emory University virologist Mehul Suthar said.
Here's what could lie ahead for the US in the third year of the pandemic
Scientists are trying to fill the knowledge gap. Studies measure average antibody levels across a population to check vaccine efficacy, often using antibody levels months after vaccination to determine the need for a booster.
One study
in people who got the Moderna vaccine found that higher antibody levels after vaccination were associated with lower risk of Covid-19 infection.
But not all antibodies are created the same. Of all the antibodies that the body may make after infection or vaccination, only a fraction are considered `` neutralizing antibodies, '' meaning they can actively prevent infection.
Tests to measure antibodies can be either quantitative or qualitative. Quantitative tests provide a specific number, up to a certain point, of antibodies in the blood. Qualitative tests will indicate only whether certain antibodies were detected. Results of qualitative tests are either positive, negative or indeterminate for neutralizing antibodies.
When it comes to measuring neutralizing antibodies specifically, there is only one type of test that has been given
emergency FDA authorization
to detect them, and it is qualitative.
US Covid-19 community metrics continue to fall, but officials keep close eye on surge in Europe
Several studies
have demonstrated that neutralizing antibodies are a strong correlate for protection against symptomatic infection with Covid-19 and its variants, with boosters enhancing neutralization.
Peter Gilbert, professor of vaccine and infectious diseases at the Fred Hutchinson Cancer Research Center and lead author of the Moderna study, says these correlates are useful to apply to large groups. For example, scientists can use data from larger studies about the correlation between antibody levels and vaccine efficacy in adults to make a prediction about vaccine efficacy in children.
However, reaching conclusions based on one person's antibody levels is far more limited. Gilbert compares individual antibody titers with a dipstick for oil in a car.
`` Is the oil in a particular car low? Therefore, you need to go out and get some new oil, '' or in this case, `` get another shot of the vaccine, '' he said. `` For that purpose, the markers aren't as good. ''
This is largely due to how antibody levels vary from person to person. That correlate of protection also changes over time and with different coronavirus variants, which makes it hard to define a cutoff for antibody levels above which scientists can confidently say that someone is protected against Covid-19.
Natural vs. vaccine-acquired immunity
There's a key difference in how antibody levels compare in people who have been vaccinated against Covid-19 versus those who have been infected with the coronavirus.
`` Whereas a vaccine response, you may have all individuals that got the vaccine have high antibodies and sort of wane over time.... With infection, it's remarkably heterogeneous. You 'll have lots of individuals that have very low and individuals that have very high antibody responses, '' Suthar said.
'Reassuring ' data suggests Johnson & Johnson vaccine may still have a role to play against Covid-19
According to Marion Pepper, an associate professor of immunology at the University of Washington, location matters, especially for the immune system.
`` There are different immunological environments that make up your body.... When you see an immune response in your arm, it's going to be a different cast of characters than if you see an immune response in your lungs, '' Pepper said.
The immune system `` is like lots of different neighborhoods, and each one has a different flavor, '' depending on how an individual gets exposed to the coronavirus, whether it's through a vaccine injected into the upper arm or through an infection to the respiratory system.
The CDC cites
one study
, which is in preprint and has not been peer-reviewed, that found
antibody titers waned more quickly in vaccinated people than in people who had been infected. This may help explain the growing evidence of stronger and more durable vaccine efficacy in people who have immunity through both illness and vaccination, called
hybrid immunity
.
Could the Covid-19 vaccine become a yearly shot? Some experts think so
Although they may not provide the best way to tell how protected someone is, antibodies are useful to understanding how we compare people with natural immunity with those with vaccine-acquired immunity.
`` We know that people who have this hybrid immunity are better protected.... So it also really begs the question, 'which of these parameters is associated with that protection? ' `` said Pepper, who leads a lab that is studying hybrid immunity.
Observing levels of immune cells and antibodies as they change over time in different groups of people can help scientists learn how to create vaccines and time vaccinations to replicate the strength of hybrid immunity without the actual infections.
Just one piece of the immunity puzzle
Antibody levels are only one part of the immunity story. There are also T cells, a type of white blood cell that helps fight infection by killing cells that have been infected with a virus or by helping another type of white blood cell, the B cell, create antibodies.
The US could replay the same self-inflicted story with BA.2
So why do we focus so much on antibodies? `` One aspect is that antibodies are probably one of the easiest to measure in the laboratory, '' Suthar said.
`` I think when you go to the T-cell-based assays, they're much more challenging, '' he explained. `` Each individual has different what are called H.L.A. types that make it a bit more challenging to understand how well one's T-cell responses are against this virus. ''
Unlike antibodies, which are responsible for preventing an infection, T cells are responsible for destroying cells that are already infected. T cells may play a big role in vaccine efficacy against serious disease from more transmissible coronavirus variants, such as Omicron.
One study
showed that while the highly mutated Omicron could evade previously neutralizing antibodies, T cells preserved a strong response.
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`` A memory B cell is a B cell that can get reactivated to make antibodies. It generally doesn't do that unless a T cell tells it to go, so studying the T cells is going to be really important for understanding this immune protection, '' Pepper said.
However, she said that the complexity of measuring T cells means there isn't going to be a rapid test to measure them any time soon.
The Omicron surge has demonstrated that infection rates can still be high even after a vaccine or a prior infection. With the possibility of more variants forming, Covid-19 has become a moving target requiring a constantly evolving understanding of these correlates of protection.
`` The biggest question I have and I think everyone else has is: What level of antibody equals protection from serious complications from Covid? '' Sobieck said.
CNN Chief Medical Correspondent Dr. Sanjay Gupta and Michael Nedelman contributed to this report. | general |
Dolly Parton knows who she wants to play her in a biopic |
Dolly Parton
has long wanted to do a Broadway musical about her life, but the pandemic has her reconsidering that.
`` We were talking about doing my Broadway musical and we were really, really far out ahead of that, and then Covid hit and that changed my mind about a whole lot of things, '' Parton said in
a recent appearance on `` Mr. Nashville Talks. ''
`` I do intend someday to be on Broadway, but I 'm thinking now that I might do my life story as a feature, '' she said. `` Maybe possibly even a musical feature, so we're in talks about that. ''
The legendary singer has some thoughts about who could play her.
`` I love Kristin Chenoweth, '' Parton said. `` She's just absolutely fantastic. ''
Read More
There may also be opportunities for other actresses, Parton said.
`` We 'd probably have to have-as long as my career has been-like a little Dolly and a middle Dolly and then the older one, '' she said.
Parton is currently
promoting her first novel,
`` Run, Rose, Run, '' written with author James Patterson. | general |
UNICEF signs supply agreement with Pfizer for oral COVID-19 treatment | NEW YORK/COPENHAGEN, 22 March 2022 – UNICEF has signed a supply agreement with Pfizer for the procurement of up to 4 million treatment courses of the new oral antiviral medicine nirmatrelvir/ritonavir ( PAXLOVID™) in 2022.
UNICEF procurement of nirmatrelvir/ritonavir ( PAXLOVID™) is dependent on country demand, clinical recommendations and necessary approvals.
In December 2021, the US Food and Drug Administration issued an Emergency Use Authorization for the use of nirmatrelvir/ritonavir ( PAXLOVID™) for the treatment of mild to moderate cases of COVID-19. Nirmatrelvir/ritonavir ( PAXLOVID™) is currently under assessment by the World Health Organization ( WHO).
This agreement will help ensure that low- and middle-income countries ( LMICs) have timely access to this novel COVID-19 therapeutic. Supply will be made available for procurement and delivery to 95 LMICs, which includes some upper-middle income countries. UNICEF will work closely with WHO and Access to COVID-19 Tools Accelerator ( ACT-A) partners such as The Global Fund and Unitaid to ensure equitable access to nirmatrelvir/ritonavir ( PAXLOVID™).
UNICEF continues to work with ACT-A partners and industry to facilitate equitable access to COVID-19 therapeutics.
UNICEF works in some of the world’ s toughest places, to reach the world’ s most disadvantaged children. Across more than 190 countries and territories, we work for every child, everywhere, to build a better world for everyone.
The world needs to get water smart. Everyone has a role to play, and we can not afford to wait
Extraordinary people are going above and beyond to serve their communities. | general |
HORNBACH Holding AG & Co. KGaA: Hornbach Group achieves record sales of EUR 5.9 billion in FY 2021/22, an increase of 7.7% | DGAP-News: HORNBACH Holding AG & Co. KGaA / Key word ( s): Preliminary Results HORNBACH Holding AG & Co. KGaA: Hornbach Group achieves record sales of EUR 5.9 billion in FY 2021/22, an increase of 7.7% 22.03.2022 / 07:04 The issuer is solely responsible for the content of this announcement.
Trading Statement 2021/22: Hornbach Group achieves record sales of EUR 5.9 billion in FY 2021/22, an increase of 7.7%
Table 1: Preliminary unaudited key figures Hornbach Holding AG & Co. KGaA Group
1) Of which 165 Hornbach DIY stores with garden centers and two Bodenhaus outlets
2) Number of employees, including passive employment relationships, at balance sheet date on February 28/29
Rounding up or down may lead to discrepancies between percentages and totals. Percentage figures calculated on basis of Euro 000s.
Bornheim ( Palatinate), Germany, March 22, 2022.In the 2021/22 financial year ( March 1, 2021 to February 28, 2022), the Hornbach Group ( Hornbach Holding AG & Co. KGaA Group) once again exceeded its record sales from the previous year and gained further share in key markets. As published in an ad-hoc announcement yesterday, net sales grew by 7.7% to EUR 5,875 million according to unaudited preliminary figures and, therefore, slightly exceeded the guided range of +2% to +7%. The increased focus on the home amongst consumers continued and demand for DIY and home improvement products remained strong. Covid-19 related closures of stationary stores serving private customers were offset by an expansion in online retailing and Click & Collect. The largest operating subgroup, Hornbach Baumarkt AG, which operated 167 locations and nine online stores as of February 28, 2022 ( previous year: 163), increased its sales by 7.4% to EUR 5,496 million. On a like-for-like basis and net of currency items, sales of Hornbach Baumarkt rose by 5.4%. Online sales ( including Click & Collect) increased by 10.5% to EUR 944 million ( previous year: 854 Mio. EUR). The Hornbach Baustoff Union GmbH subgroup posted sales growth of 11.8% to EUR 377 million.
`` Despite the uncertain market backdrop the business continued to perform well delivering further market share gains. The expansion of our high performance interconnected retail concept ( ICR), our consistent focus on project and professional customers, and our forward-looking inventory strategy continue to pay off '', commented Albrecht Hornbach, Chairman of Hornbach Management AG. As in the previous year, many Hornbach regions were affected by temporary store closures for private customers, especially in spring and winter ( see Table 3). Sales to commercial customers and click & collect for private customers generally remained open, as did online retail across the board. Home improvement was a strong focus for consumers despite the relaxation of Covid-19 restrictions. In addition, there was sustained high demand from commercial customers, who increasingly sourced at DIY stores.
The Group continued to manage inflationary pressures and supply issues, including bottlenecks in logistics and rising raw material and transportation costs. `` Many of the challenges that have accompanied us over the past two years, particularly in the procurement and transport of goods, will continue to stay in the foreseeable future and have even become more acute due to the current geopolitical turmoil '', said Erich Harsch, CEO of the Hornbach Baumarkt AG. `` Since the beginning of the pandemic, we have worked very closely with our existing suppliers, developed new sources of supply, created additional storage capacities and flexibly used various transport alternatives to ensure the constant availability of goods for our customers. `` Table 2: Like-for-like sales performance at Hornbach's DIY stores with garden centers3) ( in%)
3) Excluding currency items; including Bodenhaus and online sales
Net sales in Germany grew by 4.8% Net sales at Hornbach Baumarkt AG, including online retail, rose by 4.8% to EUR 2,780 million in Germany in the 2021/22 financial year ( previous year: EUR 2,654 million). Like-for-like sales, i.e. excluding new store openings and closures in the past twelve months ( see Table 2), showed growth of 3.7% ( previous year: 18.6%). During the period Hornbach outperformed the German DIY sector, which reported a decline of 8.2% in the 2021 calendar year. Hornbach Baumarkt market share in Germany ( GfK4)) meanwhile increased from 14.0% to 15.1% in 2021. In Germany, Hornbach operated 96 ( previous year: 96) stores in the stationary DIY retail segment as of the reporting date, as well as two Bodenhaus specialist stores ( previous year: two). One DIY store and garden center in Paderborn was replaced by a larger store in February 2022.
International activities grew by 10.3% In the eight countries outside Germany ( Rest of Europe region), the Hornbach Baumarkt AG subgroup, including its online retail activities, achieved net sales growth of 10.3% to EUR 2,716 million ( previous year: EUR 2,463 million). As a result the international share of Group sales rose slightly from 48.1% to 49.4%. Net of sales area and currency items, Hornbach increased sales in the rest of Europe by 7.3% ( previous year: 10.8%). Including currency items, like-for-like sales rose by 8.0% ( previous year: 10.8%). Market share ( GfK) in calendar year 2021 rose from 21.1% to 23.9% in the Netherlands, from 17.5% to 17.9% in Austria, and from 12.3% to 12.7% in Switzerland. Four new DIY megastores with garden centers in Trollhättan ( Sweden), Cluj ( Romania), Apeldoorn ( Netherlands) and Sirnach ( Switzerland), were opened during the year 2021/22. In the current financial year a new location opened in Nitra ( Slovakia) on March 16, 2022. This will be followed by an opening in Enschede ( Netherlands) on March 30, 2022.
High demand also in the builders ' merchant business The high level of demand for building materials was also reflected in performance of the regional builders ' merchant business. The Hornbach Baustoff Union GmbH subgroup, reported sales growth of 11.8% to EUR 377 million in the 2021/22 financial year ( previous year: EUR 338 million). As of March 1, 2022, Hornbach Baustoff Union acquired a further location in Börrstadt ( Germany) from a longstanding sales partner, in addition to the 34 outlets in southwestern Germany and two locations in France.Adjusted EBIT of the Hornbach Group grows to around EUR 364 million In the past 2021/22 financial year, the Hornbach Group once again exceeded the record earnings posted in the previous year. Based on preliminary unaudited figures, consolidated operating earnings adjusted for non-operating earnings items ( adjusted EBIT) rose by approx. 11% to around EUR 364 million ( previous year: EUR 326.4 million). This represents an increase of more than 60% compared with 2019/20 ( EUR 227.0 million). Details of the earnings performance and annual financial statements for 2021/22, as well as the sales and earnings forecast for the 2022/23 financial year, will be published on May 17, 2022. A financial press conference and an analysts ' conference are also planned for that day.
Delisting of HORNBACH Baumarkt AG successfully completed In the 2021/22 financial year, HORNBACH Holding AG & Co. KGaA increased its shareholding in HORNBACH Baumarkt AG to 90.86% within the framework of a delisting offer to the shareholders of HORNBACH Baumarkt AG. Within the acceptance period, which ended on February 22, 2022, around 12.61% of the outstanding HORNBACH Baumarkt shares were tendered at a price of? 47.50. The stock market listing of HORNBACH Baumarkt AG on the regulated market of the Frankfurt Stock Exchange ( Prime Standard) ended on February 28, 2022.
As announced previously, the delisting tender offer is fully backed by a short term debt facility to be re-financed in due course by a balanced long-term financing structure comprising of debt and/or equity instruments, fully in line with Hornbach's strategy to at least maintain their S & P BB+ rating. Further re-financing initiatives may be considered in due course. The Company remains committed to a strong balance sheet backed by a high quality property asset base.Table 3: Overview of group-wide restrictions on sales ( DIY) in 2021/22 financial year
About HORNBACH Group HORNBACH Group is an independent, family-run DIY group under the umbrella of HORNBACH Holding AG & Co. KGaA, which is listed on the Frankfurt Stock Exchange and represented in the SDAX. The largest subsidiary, HORNBACH Baumarkt AG, operates 168 DIY megastores with garden centers ( including specialist stores) and online stores in nine European countries. The Group also includes HORNBACH Baustoff Union, a regional builders ' merchant company with 37 locations in southwestern Germany and France, as well as HORNBACH Immobilien AG, which develops retail real estate for the Group. In the 2021/22 financial year ( reporting date: February 28, 2022), the HORNBACH Group generated net sales of? 5.9 billion, making it one of the five largest DIY and garden retail companies in Europe. The Group has a workforce of more than 25,000 employees.
22.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.de
1308049 22.03.2022 | business |
Pandemic delays in healthcare predicted to drive rise in cancer deaths | As we move into the third year of the global pandemic researchers are beginning to see broader impacts on public health beyond acute cases of COVID-19. New research is warning of increases in cancer deaths over the coming years as pandemic-related delays to diagnoses are leading to cases being caught at significantly later stages.
Back in 2020, a few months into the pandemic, researchers started flashing the warning lights on an emerging problem. Across the months of March and April in 2020 researchers saw rates of cancer diagnoses drop by nearly 50 percent.
At the time researchers warned of future post-pandemic waves of late-stage cancer cases causing problems in an already over-loaded healthcare system. A pair of cancer researchers from the University of Melbourne said in April 2020 they would expect to see future surges in new cancer diagnoses as COVID-19 restrictions ultimately begin to relax.
“ We expect that these delays in cancer incidence will significantly affect the survival of patients diagnosed during COVID times and have significant impacts on the health service capacity required to deal with later stage cancers, ” the duo predicted.
Several newly published studies are now expanding on those early pandemic concerns, reporting on the drops in cancer screenings seen over the past couple of years and estimating how that could impact cancer mortality in the near future.
In the journal Cancer, a team of researchers investigated the rates of cancer screening tests in 748 US locations between April and June 2021. They compared monthly screening test volumes in that period to rates seen before the pandemic began.
Almost all the sites analyzed saw continuing deficits in rates of cancer screenings compared to pre-pandemic levels. Deficits in colorectal cancer screenings were found in 80 percent of facilities, for example, and similar deficits were found in cervical, lung and breast cancer screening rates.
Another newly published study, this time in the Canadian Medical Association Journal ( CMAJ), created a simulation to model the future effects of cancer surgery delays on patient survival. Using an average increase in surgery wait-times of seven extra days the model estimated 10-year survival rates for all cancers dropping by almost one percent.
Increasing cancer surgery wait-times to 21 days compared to pre pandemic levels saw 10-year survival rates drop by up to 1.6 percent. In terms of total life-years lost among cancer patients due to surgery delays, the researchers estimate between 843 and 1,539 life-years were lost in a cohort of around 20,000 cancer patients followed during the pandemic.
“ Although de-escalation of cancer surgeries during the pandemic may be required to protect vulnerable populations and create health care capacity, these slowdowns are associated with a risk of unintended harm, ” the researchers concluded in the new study. “ Careful management of health care resources is critical during times of resource constraint to mitigate unintended consequences. ”
Contrasting these estimates on the impact of the pandemic on survival in already diagnosed cancer patients, a study published in February in JAMA Network Open investigated the staging of cancer diagnoses at Moores Cancer Center at the University of California San Diego Health. The study looked at the differences in stage 1 and stage 4 cancer diagnoses between the end of 2019 and the end of 2020.
The researchers saw a notable drop in stage 1 breast cancer diagnoses across 2020 compared to the prior year: 63.9 percent in 2019 compared to 51.3 percent in 2020. And a distinct rise in stage 4 breast cancer diagnoses was also detected year on year: 1.9 percent of all breast cancer diagnoses were classified stage 4 in 2019 compared to 6.2 percent in 2020.
Looking at early data from the first few months of 2021 the researchers also noted the trend increasing with eight percent of all breast cancer patients diagnosed between January and March classified with stage 4 disease.
“ There is increasing concern that one effect of the pandemic is the growing number of patients who are being diagnosed for the first time with late, incurable stages, ” said Kathryn Ann Gould, an oncologist at Moores Cancer Center. “ Patients who have delayed preventative care during the pandemic should be encouraged to discuss age appropriate cancer screening with their primary care providers as soon as possible. ”
The cancer screening study was published in the journal Cancer.
The cancer surgery modeling study was published in the Canadian Medical Association Journal ( CMAJ).
The breast cancer staging study was published in JAMA Network Open.
Source: UC San Diego, Canadian Medical Association Journal, Wiley | science |
Merck's Keytruda Adds Advanced Endometrial Carcinoma to Winning Roster | Merck’ s Keytruda ( pembrolizumab) has become a Food and Drug Administration ( FDA) -approved treatment for yet another indication- unresectable or metastatic advanced endometrial carcinoma that is microsatellite instability-high or mismatch repair ( MSI-H or dMMR). This announcement adds another win to Merck’ s trophy case, as the biologic has already impressed the biopharmaceutical industry with an extensive array of indications, including for three other gynecological cancers.
Keytruda is an anti-programmed death receptor therapy that utilizes monoclonal antibodies to block interactions between PD-1 and ligands. This interaction typically results suppresses T lymphocyte activation, allowing the proliferation of tumor cells. Patients must have attempted systemic therapy treatments without success and can not be candidates for curative surgery or radiation.
The KEYNOTE-158 Phase II trial ( NCT02628067) is a non-randomized, open-label trial that spans 27 study locations and involves various cohorts to evaluate Keytruda intervention of a multitude of advanced solid tumors.
The cohort of endometrial carcinoma patients is comprised of 90 patients aged between 35 and 56 and resulted in a 46% treatment response rate. The treatment regimen included an intravenous injection every three weeks for up to two years, so long as the patient did not display signs of disease progression or toxicity.
Patients underwent an average of 8.3 months of treatment before reaching either of these points. For 68% of the patients who responded to treatment, the positive physiological response continued for at least 12 months, with a smaller cohort experiencing 24 months of response.
The classification of endometrial carcinoma as MSI-H or dMMR accounts for 30% of cases. Previously, combination therapy with lenvatinib was approved, indicated for advanced endometrial carcinoma that is not categorized as MSI-H or dMMR. Over 65,000 women are diagnosed with endometrial carcinoma, and 12,500 fatalities are attributed to the disease annually. Endometrial carcinoma is the most prevalent of uterine cancers.
Along with endometrial carcinoma, Keytruda has been approved for treatment of non-small cell lung cancer, unresectable or metastatic melanoma, recurrent head and neck squamous cell carcinoma, Hodgkin lymphoma, B-cell lymphoma, urothelial carcinoma, non-muscle-invasive bladder cancer and microsatellite instability-high or mismatch repair deficient cancer.
Additionally, ongoing clinical trials are investigating Keytruda indicated for ovarian cancer, triple-negative breast cancer, metastatic castration-resistant prostate cancer, advanced-stage lung cancer, renal cell carcinoma and solid tumors with certain biomarkers. The biologic will likely continue to impress, as it is involved in over 1,700 clinical trials, evaluating how broad the treatment can reach.
Humanized monoclonal antibody treatments such as Keytruda have been heavily represented in the news since the onset of the COVID-19 pandemic, as the immunotherapeutic mechanism works to heighten the body’ s immune response.
A Phase II collaboration with Imugene was announced last week that will investigate the safety and efficacy of Keytruda in combination with Imugene’ s HER-Vaxx., an immunotherapeutic B-cell activator. The collaboration, nextHERIZON, seeks to gather data on how patients with metastatic HER-2/neu over-expressing of gastroesophageal junction adenocarcinomas respond to the combination therapy. | general |
Antiviral-Focused Aerium Launches with Ex-Takeda Vaccines President at the Helm | Biopharmaceutical firm Aerium Therapeutics has officially launched following a successful Series A funding round led by seed investor Omega Funds. And it launches with an all-star CEO already in place - the former president of Takeda global vaccines.
Aerium, which has operations in Boston, MA and Lausanne, Switzerland, brings world-class scientists and biotech experts together to create antibodies and small molecule antiviral products against SARS-CoV-2 and other similar threats. Its lead assets are monoclonal antibodies designed to be active against variants of concern ( VOCs) of SARS-CoV-2, including Omicron and subvariants BA.1, B.1.1 and BA.2. Aerium plans to expand its pipeline further in late 2022 with antiviral therapeutics.
For now, initial discovery and development efforts are focused on two monoclonal antibodies that have demonstrated potency against VOCs, details of which are posted in the journal BioRXiv.
`` For the first time in history, we have the technology and scientific know-how to get ahead of the pandemic threat, and we can test that capability against new SARS-CoV-2 variants that are constantly emerging. Aerium brings together world-class science, leadership and investors to prove what is possible, and I couldn't be more excited to be a part of this effort, '' said Rajeev Venkayya, MD, the chief executive of Aerium Therapeutics, in a statement.
Venkayya joins the company from Takeda's global vaccine business arm, where he served as president. Prior to that, he held senior positions at the White House and the Bill & Melinda Gates Foundation.
Also part of Aerium's leadership is Otello Stampacchia as executive chairman, who also serves as the managing director and founder of Omega Funds. Other members include Giuseppe Pantaleo, MD, as scientific founder, concurrently serving as professor of medicine at the CHUV, head of immunology and allergy division, and Didier Trono, MD, also as scientific founder, concurrently serving as professor and head of laboratory genetics and virology at the EPFL.
`` COVID-19 has repeatedly surprised us with its continued evolution and ability to evade our immune defenses. This realization drove the partnership we established last year with Drs. Pantaleo and Trono as well as our initial investment. While we are initially assisting populations vulnerable to COVID-19 in the prophylactic and therapeutic settings, our overall vision is to develop effective therapeutics against not just existing but also future epidemic and pandemic threats, '' Stampacchia noted in the same press release.
Acting as board members are John Maraganore, Ph.D., the former CEO of Alnylam Pharmaceuticals, Peter Honig, MD, the former head of global regulatory affairs at Pfizer, Stephen Knight, MD, current president and managing partner of F-Prime Capital, Mike Powell, Ph.D., current executive partner at Omega Funds, Vincent Ossipow, Ph.D., partner at Omega Funds and Claude Ramoni, founding partner at Libra Law.
`` Our collaboration with Aerium Therapeutics will be key in delivering these antibodies to the clinical stage, where they have the potential to play an important role in the control and the prevention of COVID-19, particularly in all those who are not protected by vaccination, '' Pantaleo commented. | general |
Studies Suggest Links Between COVID-19 and Diabetes, Pregnancy Risks and Dementia | The most obvious risks from COVID-19 are hospitalization and death. But study after study shows the disease comes with an increased risk of a number of health problems, including diabetes. One of the best ways to avoid those risks is to get vaccinated. Read on for more details.
Being diabetic is one of the clear health conditions associated with a greater risk of COVID-19. But what is starting to emerge from the data is that people infected with COVID-19 were at greater risk of developing type 2 diabetes within a year compared to people who did not contract COVID-19. The large cohort study was published in The Lancet Diabetes & Endocrinology and looked at national databases of the U.S. Department of Veterans Affairs to evaluate 181,280 participants who tested positive for COVID-19 between March 1, 2020 and September 30, 2021, and survived the first 30 days of COVID-19. They then used a contemporary control of 4,118,441 people and a historical control of 4,286,911, that had no history of COVID-19 infection. Participants in all three cohorts were `` free of diabetes before cohort entry and were followed up for a median of 352 days. ''
The study found that even mild infection increased the risk of new-onset type 2 diabetes, although the risk increased with the severity of COVID-19 symptoms. The study doesn't demonstrate cause and effect but suggests a strong association between COVID-19 infection and type 2 diabetes. The bottom line was that people diagnosed with COVID-19 were 46% more likely to develop type 2 diabetes for the first time or to be prescribed drugs to control their blood sugar. Another way of looking at it is 2 in 100 COVID-19 patients have a greater likelihood of developing type 2 diabetes.
`` For the broader public, if you 've had COVID-19, you need to pay attention to your blood sugar, '' said Ziyad Al-Aly, chief of research and development at VA St. Louis Health Care System, who led the review.
Although VA patients are typically older than the general population, with a greater percentage of Whites and males, the risk was seen in all subgroups, including women, racial minorities, younger people and individuals with varying body mass indexes.
A new study published in JAMA Internal Medicine demonstrated that pregnant women with COVID-19 had more than twice the risk of negative outcomes than pregnant women who did not contract the disease. Those outcomes included preterm birth, blood clots, respiratory distress syndrome and sepsis. The study, conducted by Kaiser Permanente, analyzed the data of more than 43,000 pregnant women during the first year of the pandemic.
`` These findings add to the growing evidence that having COVID-19 during pregnancy raises risks of serious complications, '' stated Dr. Assiamira Ferrara, lead author and senior research scientist and associate director of the women's and children's health section in the Kaiser Permanente Division of Research. `` Coupled with the evidence that the COVID-19 vaccines are safe during pregnancy, these findings should aid patients in understanding the risks of perinatal complications and the need for vaccination. ''
It's clear that there can be neurological side effects from COVID-19, the so-called `` brain fog '' associated with some cases as well as with Long Covid. Long Covid is described as `` not recovering [ for ] several weeks or months following the start of symptoms that were suggestive of COVID, whether you were tested or not. '' Of course, the most common symptoms are respiratory — shortness of breath, coughing — as well as fatigue and joint pain. And other respiratory viruses are associated with neurological and psychiatric side effects related to infection of the peripheral and CNS cells and inflammatory cascades.
Researchers are studying whether COVID-19's neurocognitive effects are permanent or may increase dementia risk. Although the data is a long way from being definitive, studies suggest that in some cases, COVID-19 infection patients have blood-cerebrospinal fluid barrier dysfunction, which allows the virus to infect the nerves and brain. To date, the data is not conclusive.
Prof. Harris Gelbard, director of the Center for Neurotherapeutics Discovery at the University of Rochester Medical Center, told Medical News Today, `` The pathological evidence for direct infection of neural cell types, particularly neurons, remain [ s ] equivocal at best. ''
Others suspect that the factors contributing to dementia, such as high blood pressure and diabetes, also make them more susceptible to COVID-19. And data does suggest that people with dementia are at almost double the risk of contracting COVID-19 than people without dementia.
It is well-established that respiratory infections, not just COVID-19, can trigger heart disease. This occurs because the viruses cause inflammation, which is a major factor in cardiovascular disease. And COVID-19 is no different. The disease increases the likelihood of cardiovascular disease, even in people with mild disease. A large study published in Nature Medicine found that even mild disease created a higher risk of heart problems one year after infection.
Ziyad Al-Aly, co-author and chief of research and development at VA St. Louis Health Care System, said, `` I went into this assuming there was going to be some risk, but primarily in people who had very severe disease and needed to be hospitalized in the acute phase of the infection. ''
Instead, they found the risk of any heart complication over one year after infection was 63% higher than people in the contemporary control group. The cardiovascular events included stroke or heart failure at a rate of 45 per 1,000 people who tested positive for COVID-19.
It would make sense that a largely respiratory illness like COVID-19 would increase the risk of long-term damage to the lungs. And Long Covid appears to occur in 7 to 18% of people with symptomatic COVID-19. Long-term effects of viral pneumonia vary depending upon the direct injury caused by the virus and the immune reaction to it. Broadly, there appears to be two patterns of lung damage: constrictive bronchiolitis ( small airway disease) and diffuse alveolar damage ( DAD), which is scarring or fibrosis to the alveoli, the tiny balloon-like structures at the end of the bronchioles. Both appear in a study of COVID-19 patients out of the University of Iowa. | general |
Moderna Announces Triple Threat Booster Against Viruses | Moderna is broadening its vaccine horizons once again using mRNA technology, widely known for its use in COVID-19 vaccinations. The company has announced two new vaccine development programs targeting a variety of viruses.
Moderna plans to launch a respiratory combination vaccine program to target SARS-CoV-2, influenza virus and respiratory syncytial virus ( RSV). The vaccine candidate mRNA-1230 is envisioned as an annual booster to give people protection against all three viruses at once and maintain immunogenicity over the years.
The rationale behind creating a three-pronged vaccine candidate is to target the most significant viruses causing respiratory disease in older adults. Throughout the pandemic, older adults have been the most susceptible to SARS-CoV-2 infection resulting in an increased risk for morbidity and mortality from COVID-19 infections. The influenza virus is also especially deadly for older adults, who are three to five times more likely to have a heart attack after infection and two to three times more likely to have a stroke.
There are currently no vaccines available to prevent RSV infection, which hospitalizes 177,000 older adults annually, according to the Centers for Disease Control and Prevention ( CDC). RSV can lead to serious complications such as pneumonia and congestive heart failure. The best protection for older adults currently is proper handwashing and avoiding contact with sick people.
In addition to the tri-vaccine candidate, Moderna is also introducing a program to develop a vaccine candidate against endemic human coronaviruses ( HCoVs). mRNA-1287 will specifically four HCoVs – 229E, NL63, OC43 and HKU1.
Endemic coronaviruses refer to a group of coronaviruses that are still present in the population in a certain geographical region and infection with the virus is “ static ” or not unpredictably disruptive. Despite being endemic and not as widely known as other types of coronaviruses, the four viruses targeted by Moderna’ s candidate account for approximately 10% to 30% of upper respiratory tract infections in adults. The majority of infections with HCoVs result in mild illness of the respiratory tract but can still potentially result in serious disease.
`` We are pleased to add a combination respiratory vaccine candidate against three of the leading causes of respiratory disease in older adults, and a vaccine against all four of the endemic human coronaviruses as part of our strategy to address the substantial global burden of respiratory infections, '' said Stephen Hoge, M.D., President of Moderna. `` Our goal is to develop vaccines to address respiratory infections, and eventually combine many into a single annual booster vaccine with the aim of reducing the significant morbidity and mortality caused by these viruses. ''
The announcement of Moderna’ s new vaccine development programs follows its declaration in March 2022 that it launched a second clinical trial evaluating the efficacy of an mRNA vaccine in preventing human immunodeficiency virus ( HIV). The first clinical trial was launched in Jan. 2022 evaluating a different mRNA vaccine candidate for HIV. | general |
Study points to strategies for closing the participation gender gap in engineering courses | Students ' identities can play a key role in how comfortable they feel and how often they speak up in the classroom, especially in STEM fields. For instance, women generally speak far less than men in undergraduate engineering classes, but this is not always the case, according to Princeton researchers. When classes are taught by women instructors, the gender gap practically disappears. Another major factor in women's class participation is participation by other women—the researchers found that women are much more likely to speak after another woman has spoken in class. `` That was one of the findings that I was most excited about, because it felt like something that could really be leveraged to change teaching practices, '' said study coauthor Nikita Dutta, who completed a Ph.D. in mechanical and aerospace engineering at Princeton in 2021 and is now a Director's Postdoctoral Fellow at the National Renewable Energy Laboratory. `` It's kind of like a waterfall effect once one woman starts to participate. '' While much progress has been made in recent decades, women remain significantly underrepresented in engineering and other STEM fields. In 2018, women earned 22.2% of engineering bachelor's degrees in the United States. ( Princeton Engineering's current undergraduate population is 41% women.) Previous work has shown that experiences with mentors, peer groups and classroom climates play critical roles in undergraduate women's success in engineering. The study, published online March 1 in IEEE Transactions on Education, included observations of 1,387 student comments over 89 class periods in 10 different courses in Princeton's engineering school. Five of the courses were taught by women and five were taught by men, although only 30 of the observed class periods were taught by women. While the students observed in the courses were 45.5% women and 54.5% men, only 20.3% of the classroom comments came from women. ( The study setup did not allow for students to self-identify their gender; the observers noted the perceived gender of each student as `` man, '' `` woman '' or `` non-binary. '') This gender gap widened slightly when the researchers considered only courses taught by men ( 17.1% of comments came from women in classes taught by men versus 20.3% overall), but almost disappeared with a woman instructor. In classes taught by women, comments from women students increased to 47.3%. Investigating the timing of students ' comments, the researchers found that after one woman participated in class, during the next minute the proportion of comments by women rose to 32.4% —an effect that decayed over time but lasted for nine minutes after the initial comment. Dutta conducted her dissertation research with Craig Arnold, the Susan Dod Brown Professor of Mechanical and Aerospace Engineering and director of the Princeton Institute for the Science and Technology of Materials. In fall 2018, she also served as an assistant in instruction for Arnold's course, `` Structure and Properties of Materials. '' During lectures, she noticed that women seemed to answer questions and offer comments less often than men; she started tracking students ' participation informally, and found variability from one class session to the next. She became curious about what might be behind these fluctuations, and whether other engineering courses might reveal larger trends. At the semester's end, Dutta presented her findings to Arnold and the rest of his research group during their weekly meeting. `` My jaw dropped. I thought, 'This is remarkable; this is incredible. ' She started talking about her plans … and ultimately it turned into a real scientific study, '' said Arnold, who coauthored the paper with Dutta. Dutta and Arnold submitted a proposal to Princeton's Institutional Review Board, which oversees research on human subjects. They also consulted with pedagogy and educational assessment experts at Princeton's McGraw Center for Teaching and Learning, where Dutta had been trained as a graduate teaching fellow. During the next two semesters, they enlisted other graduate students to assist with observations in lecture courses representing different class sizes and levels. Although the study was curtailed by the COVID-19 pandemic, they were able to gather sufficient data to draw some meaningful conclusions. Besides recording student commenters ' genders, observers labeled comments as `` unprompted, '' `` solicited '' or `` involuntary. '' The gender gaps in unprompted and solicited participation were similar to the overall gender gap. The number of involuntary comments was small, since only three of the 10 instructors called on students who had not raised a hand, but the observations suggest that instructors called on men and women equally. Observers also classified comments as `` concept questions, '' `` clarifiers, '' `` answers '' or `` general comments '' unrelated to course content. Women participated more frequently after another woman's comment, regardless of comment type, which points to icebreaker questions as a strategy that instructors can employ to promote participation and refresh students ' attention. `` I think the fact that the conversational comments still had the effect of increasing participation by women is a really empowering result, because it means that you can solicit less intimidating forms of participation, '' said Dutta. `` For instance, in a materials class, you can ask students where they have observed these kinds of properties in real life. That is a technique that some professors are already using, but I think this shows how it can be helpful not just for encouraging more participation, but for encouraging more equitable participation. '' The researchers also noted that involving more women as co-instructors, guest lecturers and teaching assistants could help close the participation gender gap by tapping into the effect seen in courses taught by women. It could be especially useful to draw on early-career researchers as instructors and role models, given the long timespan of changing gender representation among university faculty. For women and students from other underrepresented groups in STEM fields, decades of research have shown the importance of `` feeling like they're part of that community, that they can be part of the conversation and speak in a group setting, get clarity or answer a question with confidence, '' said Kelly Godfrey, assistant director of educational and program assessment at the McGraw Center, who advised on the research. `` Being part of the community is the end goal, and this is one of the ways that we can clear that path. '' `` The challenges of inclusive teaching often seem so big: How are we going to fight systematic oppression and hundreds of years of patterns; how can we make a difference in that? '' said Sarah Schwarz, senior associate director for graduate pedagogy at the McGraw Center. `` I think there's often really compelling small touches that make a difference in creating classrooms that are more inclusive, and this is one of many powerful examples of that. '' Dutta and Arnold said they hope educators at Princeton and other institutions will implement some of the strategies they suggest, as well as expand on this initial study by examining participation patterns in a broader range of students and courses, including the participation of students from other underrepresented groups. `` The results we found are just the beginning—there is much more learn, '' said Arnold. `` I hope this paper gets people thinking about some of the small things you can do in the classroom that can make a big difference. '' Explore further Class participation differences result in gender biases in physician evaluations More information: Nikita S. Dutta et al, Illuminating the Role of Classmates in Reducing the Participation Gender Gap in Lecture-Based Engineering Classes, IEEE Transactions on Education ( 2022). DOI: 10.1109/TE.2022.3151824 Provided by Princeton University Citation: Study points to strategies for closing the participation gender gap in engineering courses ( 2022, March 22) retrieved 25 March 2022 from https: //phys.org/news/2022-03-strategies-gender-gap-courses.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Another major factor in women's class participation is participation by other women—the researchers found that women are much more likely to speak after another woman has spoken in class.
`` That was one of the findings that I was most excited about, because it felt like something that could really be leveraged to change teaching practices, '' said study coauthor Nikita Dutta, who completed a Ph.D. in mechanical and aerospace engineering at Princeton in 2021 and is now a Director's Postdoctoral Fellow at the National Renewable Energy Laboratory. `` It's kind of like a waterfall effect once one woman starts to participate. ''
While much progress has been made in recent decades, women remain significantly underrepresented in engineering and other STEM fields. In 2018, women earned 22.2% of engineering bachelor's degrees in the United States. ( Princeton Engineering's current undergraduate population is 41% women.) Previous work has shown that experiences with mentors, peer groups and classroom climates play critical roles in undergraduate women's success in engineering.
The study, published online March 1 in IEEE Transactions on Education, included observations of 1,387 student comments over 89 class periods in 10 different courses in Princeton's engineering school. Five of the courses were taught by women and five were taught by men, although only 30 of the observed class periods were taught by women. While the students observed in the courses were 45.5% women and 54.5% men, only 20.3% of the classroom comments came from women. ( The study setup did not allow for students to self-identify their gender; the observers noted the perceived gender of each student as `` man, '' `` woman '' or `` non-binary. '')
This gender gap widened slightly when the researchers considered only courses taught by men ( 17.1% of comments came from women in classes taught by men versus 20.3% overall), but almost disappeared with a woman instructor. In classes taught by women, comments from women students increased to 47.3%.
Investigating the timing of students ' comments, the researchers found that after one woman participated in class, during the next minute the proportion of comments by women rose to 32.4% —an effect that decayed over time but lasted for nine minutes after the initial comment.
Dutta conducted her dissertation research with Craig Arnold, the Susan Dod Brown Professor of Mechanical and Aerospace Engineering and director of the Princeton Institute for the Science and Technology of Materials. In fall 2018, she also served as an assistant in instruction for Arnold's course, `` Structure and Properties of Materials. ''
During lectures, she noticed that women seemed to answer questions and offer comments less often than men; she started tracking students ' participation informally, and found variability from one class session to the next. She became curious about what might be behind these fluctuations, and whether other engineering courses might reveal larger trends. At the semester's end, Dutta presented her findings to Arnold and the rest of his research group during their weekly meeting.
`` My jaw dropped. I thought, 'This is remarkable; this is incredible. ' She started talking about her plans … and ultimately it turned into a real scientific study, '' said Arnold, who coauthored the paper with Dutta.
Dutta and Arnold submitted a proposal to Princeton's Institutional Review Board, which oversees research on human subjects. They also consulted with pedagogy and educational assessment experts at Princeton's McGraw Center for Teaching and Learning, where Dutta had been trained as a graduate teaching fellow.
During the next two semesters, they enlisted other graduate students to assist with observations in lecture courses representing different class sizes and levels. Although the study was curtailed by the COVID-19 pandemic, they were able to gather sufficient data to draw some meaningful conclusions.
Besides recording student commenters ' genders, observers labeled comments as `` unprompted, '' `` solicited '' or `` involuntary. '' The gender gaps in unprompted and solicited participation were similar to the overall gender gap. The number of involuntary comments was small, since only three of the 10 instructors called on students who had not raised a hand, but the observations suggest that instructors called on men and women equally.
Observers also classified comments as `` concept questions, '' `` clarifiers, '' `` answers '' or `` general comments '' unrelated to course content. Women participated more frequently after another woman's comment, regardless of comment type, which points to icebreaker questions as a strategy that instructors can employ to promote participation and refresh students ' attention.
`` I think the fact that the conversational comments still had the effect of increasing participation by women is a really empowering result, because it means that you can solicit less intimidating forms of participation, '' said Dutta. `` For instance, in a materials class, you can ask students where they have observed these kinds of properties in real life. That is a technique that some professors are already using, but I think this shows how it can be helpful not just for encouraging more participation, but for encouraging more equitable participation. ''
The researchers also noted that involving more women as co-instructors, guest lecturers and teaching assistants could help close the participation gender gap by tapping into the effect seen in courses taught by women. It could be especially useful to draw on early-career researchers as instructors and role models, given the long timespan of changing gender representation among university faculty.
For women and students from other underrepresented groups in STEM fields, decades of research have shown the importance of `` feeling like they're part of that community, that they can be part of the conversation and speak in a group setting, get clarity or answer a question with confidence, '' said Kelly Godfrey, assistant director of educational and program assessment at the McGraw Center, who advised on the research. `` Being part of the community is the end goal, and this is one of the ways that we can clear that path. ''
`` The challenges of inclusive teaching often seem so big: How are we going to fight systematic oppression and hundreds of years of patterns; how can we make a difference in that? '' said Sarah Schwarz, senior associate director for graduate pedagogy at the McGraw Center. `` I think there's often really compelling small touches that make a difference in creating classrooms that are more inclusive, and this is one of many powerful examples of that. ''
Dutta and Arnold said they hope educators at Princeton and other institutions will implement some of the strategies they suggest, as well as expand on this initial study by examining participation patterns in a broader range of students and courses, including the participation of students from other underrepresented groups.
`` The results we found are just the beginning—there is much more learn, '' said Arnold. `` I hope this paper gets people thinking about some of the small things you can do in the classroom that can make a big difference. '' Explore further Class participation differences result in gender biases in physician evaluations More information: Nikita S. Dutta et al, Illuminating the Role of Classmates in Reducing the Participation Gender Gap in Lecture-Based Engineering Classes, IEEE Transactions on Education ( 2022). DOI: 10.1109/TE.2022.3151824 Provided by Princeton University Citation: Study points to strategies for closing the participation gender gap in engineering courses ( 2022, March 22) retrieved 25 March 2022 from https: //phys.org/news/2022-03-strategies-gender-gap-courses.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Explore further | tech |
Adobe Reports Record Revenue in Q1 Fiscal 2022 | Document Cloud ARR Surpasses $ 2 Billion Exiting the Quarter
Adobe ( Nasdaq: ADBE) today reported financial results for its first quarter fiscal year 2022 ended March 4, 2022.
“ Adobe achieved record Q1 revenue as Creative Cloud, Document Cloud and Experience Cloud continue to be pivotal in driving the digital economy, ” said Shantanu Narayen, chairman and CEO, Adobe. “ Adobe is committed to empowering individuals, transforming businesses and connecting communities. ”
“ Adobe’ s Q1 results reflect the company’ s strong execution and resilience through unprecedented circumstances, ” said Dan Durn, executive vice president and CFO, Adobe. “ Our momentum, product innovation and immense market opportunity position us for success in 2022 and beyond. ”
First Quarter Fiscal Year 2022 Financial Highlights
Impact of War in Ukraine
On March 4, 2022, Adobe announced a halt of all new sales of Adobe products and services in Russia and Belarus. In addition, today Adobe is reducing its Digital Media ARR balance by $ 75 million, which represents all ARR for existing business in Russia and Belarus. While Adobe will continue to provide Digital Media services in Ukraine, the company reduced ARR by an additional $ 12 million, which represents its entire Digital Media business in Ukraine. This results in a total ARR reduction of $ 87 million and an expected revenue impact of $ 75 million for fiscal year 2022.
Second Quarter 2022 Financial Targets
Adobe’ s second quarter fiscal year 2022 targets factor in current macroeconomic and geopolitical conditions. The following table summarizes Adobe’ s second quarter fiscal year 2022 targets:
Total revenue
~ $ 4.34 billion
Digital Media annualized recurring revenue ( ARR)
~ $ 440 million of net new ARR
Digital Media segment revenue ( Y/Y growth)
~13%
~14% ( constant currency2)
Digital Experience segment revenue ( Y/Y growth)
~15%
~16% ( constant currency2)
Digital Experience subscription revenue ( Y/Y growth)
~17%
~18% ( constant currency2)
Tax rate
GAAP: ~20%
Non-GAAP: ~18.5%
Earnings per share3
GAAP: ~ $ 2.44
Non-GAAP: ~ $ 3.30
Adobe to Webcast Earnings Conference Call
Adobe will webcast its first quarter fiscal year 2022 earnings conference call today at 2:00 p.m. Pacific Time from its investor relations website: www.adobe.com/ADBE. Earnings documents, including Adobe management’ s prepared conference call remarks with slides and an investor datasheet are posted to Adobe’ s investor relations website in advance of the conference call for reference.
Forward-Looking Statements, Non-GAAP and Other Disclosures
This press release contains forward-looking statements, including those related to business momentum, the effects of the COVID-19 pandemic on our business and results of operations, our market opportunity, market trends, current macroeconomic conditions, customer success, revenue, operating margin, seasonality, annualized recurring revenue, tax rate on a GAAP and non-GAAP basis, earnings per share on a GAAP and non-GAAP basis, and share count, all of which involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure to compete effectively, failure to develop, acquire, market and offer products and services that meet customer requirements, introduction of new technology, information security and privacy, potential interruptions or delays in hosted services provided by us or third parties, geopolitical and macroeconomic conditions and economic impact of the COVID-19 pandemic, risks associated with cyber-attacks, complex sales cycles, risks related to the timing of revenue recognition from our subscription offerings, fluctuations in subscription renewal rates, failure to realize the anticipated benefits of past or future acquisitions, failure to effectively manage critical strategic third-party business relationships, changes in accounting principles and tax regulations, uncertainty in the financial markets and economic conditions in the countries where we operate, and other various risks associated with being a multinational corporation. For a discussion of these and other risks and uncertainties, please refer to Adobe’ s Annual Report on Form 10-K for our fiscal year 2021 ended Dec. 3, 2021, and Adobe's Quarterly Reports on Form 10-Q issued in fiscal year 2022.
The financial information set forth in this press release reflects estimates based on information available at this time. These amounts could differ from actual reported amounts stated in Adobe’ s Quarterly Report on Form 10-Q for our fiscal quarter ended March 4, 2022, which Adobe expects to file in late March or early April 2022. Adobe assumes no obligation to, and does not currently intend to, update these forward- looking statements.
A reconciliation between GAAP and non-GAAP earnings results and financial targets is provided at the end of this press release and on Adobe’ s investor relations website.
1
Adjusted to account for the extra week in first quarter fiscal year 2021 and to show growth rates in constant currency.
2
Adjusted to show growth rates in constant currency.
3
Targets assume share count of ~474 million for second quarter fiscal year 2022. | business |
Why Tech Injuries Have Continued to Rise Since the Pandemic | Why has there been an increase in tech injuries? What can be done about it? Read on in this article.
Undoubtedly, the ongoing COVID-19 pandemic has changed many aspects of daily life for people worldwide. Whether it was social distancing or wearing masks for most of 2020 and 2021, the effects of the pandemic will likely be long-lasting.
One change that impacted millions of Americans was the sudden shift to remote work. In September 2021, research from Gallup found that 45% of full-time employees were working partly or fully remotely. Gallup suggests this remote work trend will persist into the future.
Below, we’ ll discuss why tech-related ailments and injuries started to increase since the pandemic and provide some tips for remote workers to keep themselves healthy moving forward.
In 2020, data from the Bureau of Labor Statistics ( BLS) suggests that nonfatal workplace injuries and illnesses dropped by 5.7% compared to the total amount in 2019.
Before the pandemic, it was reported that U.S. companies spent $ 62 billion annually to account for workplace injuries and accidents that cause employees to miss six or more workdays.
While BLS data shows that the total number of work-related injuries or illnesses has gone down, other research suggests American employees are struggling with other nonfatal, tech-related injuries or ailments while working. And while some of these injuries are more emotional or financial, such as the 667% increase in phishing attacks, more than ever are physical in nature.
A new study was conducted by Harmony Healthcare IT, a data management firm, which analyzed Google search volume data to determine common tech-related ailments Americans are experiencing during the pandemic.
The findings in this study were significant. Here are some of the statistics from the survey:
Generally speaking, this study shows that the pandemic and the significant shift to remote work has taken a toll on Americans and their health.
The study mentioned above included some of the most common tech-related ailments and provided a detailed map showing which ailment was most prevalent by state.
Some of these ailments shouldn’ t come as a surprise, considering how much time people spend on technology, such as laptops, video games, and smartphones. Gaming addiction, for example, may be contributing to these tech-related injuries.
Remote workers often report aches and pains, joint soreness, numbness, stiffness, and injuries like carpal tunnel and migraines. Employers with permanent work-from-home policies, in addition to hybrid work models, are feeling concerned for many reasons.
Who’ s liable if a remote team member suffers an injury or illness that’ s work-related? Normally, workplace injuries fall on the employer and Workers’ Compensation kicks in. In unprecedented times, the waters get murky.
Generally speaking, employers need to have a duty of care for in-office and remote workers and ensure remote workers can do their jobs safely. Some government agencies are asking employers to prioritize protecting the health and safety of remote employees.
A safe home working environment looks a bit different for every team member. However, with ergonomics in mind, there are some things American employees can do to avoid some of the most common tech-related injuries. Below are some tips you can use to ensure a comfortable and safe working environment at home.
Evaluate your living space and determine what room is optimal for you to work in. You’ ll need space to fit a desk and a chair for comfort while using your computer.
Avoid working on your bed or couch, which can negatively affect your posture and cause aches and pains. When setting up a workspace, think about the position of your head, neck, back, wrists, hands, and posture. Good ergonomic posture is similar to sitting in a car, with your feet flat, legs extended, and your body tilted slightly backward.
A quick Amazon search will provide plenty of ergonomic products to help you remain comfortable while working from home.
Chairs, standing desks, footrests, and laptop stands are all great choices. If possible, purchase a fully adjustable chair and ensure your laptop screen or computer monitor is at eye level.
Natural light exposure is an essential component of working from home. It can help us achieve high productivity levels, boost vitamin D levels, fight seasonal affective disorder ( SAD), and improve our sleep habits.
You can also purchase light therapy lamps if your living space can not provide enough natural lighting for your workstation.
Moving every 20 minutes can improve your circulation and reduce feelings of joint stiffness or pain. Be sure to hydrate throughout the day, eat three meals with snacks in between, and take time away from the computer screen to avoid tech-neck.
These tips will help you prevent some of the most common tech-related injuries that can occur while working from home.
Many American workers left their ergonomic workstations and adapted to work in a home office, bedroom, living room, or basement. Kitchen countertops became desks and couches or beds replaced office chairs. Failing to prioritize your physical health can lead to tech-related injuries. Do your best to use ergonomic principles to avoid them. | tech |
Tuberculosis services disrupted by war in Ukraine - The Lancet Infectious Diseases | The war in Ukraine is threatening continuity of care for patients with tuberculosis in the country. Ed Holt reports.
War in Ukraine could worsen what is already one of the world's most serious tuberculosis ( TB) epidemics, those involved in the country's response to the disease have warned. Fighting, direct attacks on health-care facilities and medics, displacement of millions of people, and problems with access to and delivery of medicines are disrupting treatment for patients, they say.
Askar Yedilbayev, WHO TB team lead, told The Lancet Infectious Diseases: “ For those escaping to other regions within Ukraine, or outside the country, continuity of treatment is at risk. Interruption of continuity of treatment for TB and DR-TB will have serious consequences, such as amplification of drug-resistance, transmission of infection, especially with resistant strains, and death ”.
Ukraine has the fourth-highest TB incidence in the WHO European Region and the fifth-highest number of confirmed cases of extensively drug-resistant TB in the world. Since the Russian invasion on Feb 24, Ukraine's health-care system has come under increasing pressure amid relentless bombardment of cities and targeting of hospitals and health-care workers by Russian forces.
At the time of writing, WHO said that treatment for TB and drug-resistant TB ( DR-TB) was “ largely available across Ukraine ”, with sufficient supply of medicines, especially for DR-TB. It admitted though that “ external factors ” were already affecting continuity of care, citing the example of warehouses in one region being bombed, forcing difficult reallocation of drugs from other regions.
Medical organisations already working in the country to deliver TB care before the war have said that they are continuing to provide services, including medicine deliveries, but are finding it increasingly difficult due to security worries and transportation issues, with roads clogged with refugees or Russian troops.
Lyubov Berezhna, the head of the Red Cross in Kramatorsk, said: “ We are trying to meet patients ' needs and we are all doing the maximum we can. The situation is getting worse every day, and no one knows what tomorrow will bring ”. Meanwhile, other organisations have been forced to drastically cut back the scale of their operations.
Evgenia Geliukh of the Alliance for Public Health, one of the biggest non-state organisations involved in Ukraine's TB response, said: “ Before, we and our partners provided a wide spectrum of services, but now in some places it's just checking that TB patients are sticking to their regimen, and in some places finding active TB cases has stopped ”.
Access to medicines is also problematic for the estimated almost 6 million internally displaced people in Ukraine. Internally displaced patients with TB can receive treatment at any health-care facility they can get to, but there is no guarantee drugs will be available. “ With so many people leaving eastern Ukraine, other places further west are seeing higher demand and therefore problems with supply [ of TB drugs ] ”, said Geliukh.
The situation has prompted dire warnings from some experts. Yedilbayev said: “ War and humanitarian crisis will have a negative impact on TB and DR-TB in Ukraine. Delayed diagnosis of TB and DR-TB will result in delays to initiation of appropriate treatment, eventually leading to... poor treatment outcomes, which will be aggravated by undiagnosed and, as a result, untreated TB cases, and continuous transmission of infection in communities ”.
Meanwhile, with more than 3 million people having fled the country since the start of the invasion, the risk of TB among refugees has also come into focus. In a report released earlier this month, the European Centre for Disease Prevention and Control ( ECDC) urged Ukraine's neighbouring states to ensure refugees had access to health-care services to help in the early detection of infectious diseases.
Teymur Noori, ECDC expert in migrant health, said the organisation was “ worried about TB, especially MDR-TB ” among refugees but stressed the institution's recommendations were made with refugees, not local populations, in mind. “ [ The recommendations are ] so healthcare systems outside Ukraine can prepare to mitigate the health impacts of the crisis on refugees themselves. We're not worried about local populations seeing outbreaks of infectious diseases because of refugees. ”
In all EU countries, and in the UK, Ukrainian refugees have been given access to local health care and Yedilbayev said WHO was working with health authorities of neighbouring countries to “ ensure access to TB and DR-TB treatment for refugees requiring continuation of treatment and anyone diagnosed with TB outside Ukraine ”.
Michel Kazatchkine, UNAIDS special advisor for Eastern Europe and Central Asia, said he believed the numbers of Ukrainian refugees with TB would be between 1000 and 2000. “ The war has been a setback for TB efforts in Ukraine. Covid-19 had already had a great effect on testing and detecting TB cases and the situation now is largely one of just safeguarding existing treatment ”, Kazatchkine added.
For more on tuberculosis in Ukraine see https: //www.euro.who.int/en/countries/ukraine/news/news/2021/3/world-tuberculosis-day-supporting-ukraine-in-scaling-up-tb-diagnosis-and-treatmentFor the ECDC report see https: //www.ecdc.europa.eu/en/publications-data/operational-public-health-considerations-prevention-and-control-infectious
For more on tuberculosis in Ukraine see https: //www.euro.who.int/en/countries/ukraine/news/news/2021/3/world-tuberculosis-day-supporting-ukraine-in-scaling-up-tb-diagnosis-and-treatment
For the ECDC report see https: //www.ecdc.europa.eu/en/publications-data/operational-public-health-considerations-prevention-and-control-infectious | tech |
How to Get Horny Fast - 36 Hot Ways to Turn Yourself On | We may earn commission from links on this page, but we only recommend products we love. Promise.
Right this way for some A+ arousal hacks.
Unfortunately for all of us, sometimes getting in the mood for sex isn’ t as simple as wanting to be in the mood for sex. From date nights where a consensual hookup is 100 percent on the menu to stressed-out moments that could benefit from an orgasmic release, there are plenty of times when our minds want to do the deed but our bodies act like they literally could not care less. Très rude. But all hope is not lost! Learning how to get horny when you’ re sorta not feeling it is not only possible, but it's a v good skill to have for when you know you need an orgasm, but your vagina gives you the silent treatment.
While you always have the option to * not * have sex—whether that’ s solo or with a partner—that doesn’ t change the fact that sometimes you want to have it, but you simply don’ t feel sexually stimulated. “ The body can be a very complicated place, ” says sex therapist Ashley D. Murphy, explaining that there are a lot of different factors that come into play when getting horny.
“ For one, each of our bodies is unique, ” Murphy explains. “ For two, the three sexual powerhouse hormones—estrogen, progesterone, and testosterone—affect the sexual desire and arousal one experiences when wanting to be intimate with oneself or with partner ( s). ” When these hormones get out of balance—like when you’ re stressed or sleep-deprived—your ability to become aroused can quickly go MIA.
The good news is there are plenty of ways to hack your own horny, even if you don’ t initially feel it. To help, we’ ve consulted some experts on what you can do to go from 0 to 100 when the usual moves aren't quite cutting it. From sultry breathing techniques to sexy games, here's how to quickly get in the mood for a session that doesn't skimp on the sexiness.
Yup, there really are apps out there that can help you harness your horniness. If you’ re in more of an “ I want to learn how to rediscover my sexuality and embrace my eroticism ” quest ( versus just like, “ I need to get off right TF now ”), Emjoy is definitely a good place to start. The app’ s goal is to help women reach their sexual peaks by learning all about arousal, self-esteem, and desires through personalized, guided journeys. Oh, and there’ s also a section where you can listen to sexy stories which is * chef’ s kiss * in a pinch.
Where would we be without vibrating panties? The classic sex toy is a favorite for a reason, and a really good item to have in your arsenal for those times when arousal doesn’ t just happen. Murphy suggests wearing a pair when you’ re out to dinner with your boo. Give them the remote and by the time you leave the restaurant, you’ ll be aching for more.
Feel like staying in? Try wearing them when you’ re WFH, making dinner, or simply chilling in the evening. Whatever your location, Murphy says you’ ll be surprised how turned on you get by the unexpected, partner-supplied stimulation.
Not just with your partner, but Murphy says that’ s not a bad idea. Instead, try role-playing with yourself by creating an ultra sexual ego. This other `` you '' doesn’ t have to deal with your annoying boss’ s emails or the laundry piling up—she’ s simply about pleasure. Buy a wig in a different color, wear something totally out of your element, do some wild makeup, and watch yourself in the mirror as you begin to explore ~your character’ s~ body. Murphy says creating an illusion outside of your day-to-day is “ essential, ” and in turn, can help you break out of a dry spell.
I don't know about you all, but Megan Fox and Kourtney Kardashian's September 2021 Skims campaign lives in my mind rent-free. It's the definition of sexy. The brunettes shared a ton of pics in their undies, including a few where they lounged topless and fed each other cherries. If two very hot women don't do the job though, perhaps getting a super-soft pair of panties like they're wearing from Skims will do it instead?
Kayla Lords, a sexpert for JackandJillAdult.com, says before you dive into masturbation or penetrative sex, start by focusing on areas other than your genitals. “ Caress your neck, chest, nipples, thighs, and those small erogenous zones that get ignored when you masturbate, ” she suggests. Focus on touching yourself in a sensual way, and play with intensity and friction to see what feels good. You might even want to grab a pair of nipple clamps, just to see if they do a lil something for you.
Yup, The Sims. Like, the game you played all of elementary school and then through COVID-19 while social distancing. Download the underground Wicked Whims modification that will literally leave you breathless. We're taking `` watch your Sims play out your wildest fantasies '' kind of breathless.
You don't just have to watch shows for the storylines. There are a ton of movies and series you can stream full of sexy scenes. And honestly, sometimes the hookups on Netflix are even hotter than the stuff in porn because you're so emotionally invested in the characters. Peruse the sexiest shows and movies on Netflix and be sure to have a vibrator at the ready.
If you're looking for a fun way to get aroused, try playing a sultry game. There are tons of different options from strip poker to roleplaying adventures. You can even sexify some of the board games collecting dust on your shelf by adding some new rules. Erotic Scrabble, anyone?
Relaxing and de-stressing is 101 when it comes to arousal, so if luxe baths are your thing, consider hopping into one before opting for sexy time. Grab a decadent scrub or soak, let the warm water loosen your muscles, and lean in—literally—to the faucet. Whether you actually have sex in the bathroom or hold out for a change in scenery, taking a little bit of ~you time~ will help you get in the mood.
Tantric yoga that leads to a nine-hour orgasm? Apparently, it's possible. But even if you don't go all out with erotic poses, taking the time to do some stretching will get your blood pumping and awaken your body. Light some nice candles, take your time doing a few poses, and pay attention to how your body feels with each downward dog.
Sexting a partner is always fun, but have you ever tried sexting yourself? It's like living out your own fantasy at your fingertips. Whether you simply hype yourself up, or you pretend you're interacting with a favorite celebrity or fictional character, sending/receiving naughty texts from your own imagination is the ultimate arousal booster.
You know the one. It's the song that makes you feel like a literal sexual goddess—whether it's while you're masturbating or dancing in the club. And, yeah, it definitely does all sorts of things to your horny radar. So, put it on and let your body move to the beat, suggests Sera Miles, CEO of Pep Love, a phone sex, sexting, and erotic emailing operation. Can't think of any sexy songs? Stuff by The Weeknd, Cardi B, or Megan Thee Stallion should do the trick.
You 'll want to create a private file on your phone—whether via an app, the Notes tab, or a camera album—to compile a bunch of things that turn you on for moments like this. “ Pop in your earbuds and listen to hot sounds while you scroll through words and pictures that do it for you, ” suggests Miles. “ Add to it whenever the urge organically arrives. ”
Because, fun fact: They’ re directly related to your libido. Sex and relationship coach Azaria Menezes suggests you do the following: Eat some aphrodisiacs ( like chocolate), set the mood in your room by adjusting the lighting, turn on some music, swap your sheets to something sensual like silk, and spritz some perfume all over you that turns you on.
“ Focusing on your breath is the most direct way to get out of your head and into your body, ” says Menezes. She suggests closing your eyes and breathing really deeply and slowly. Try different breathing patterns—like, holding your breath in for three seconds before you exhale—and see what feels best.
Porn is great, and sometimes even love scenes on Netflix or TV can be even better. But by creating your own sexual fantasy in your mind, “ the mental images will quickly get you where you want to be, ” says licensed psychologist and certified neurotherapist Catherine Jackson, PsyD. Remember: Your mind is your safe space, so feel free to explore whatever fantasies you 've kept up there, unabashedly.
Use your loofah, sponge, washcloth, and/or your fingers to turn yourself on. “ You’ re already soapy, wet, and slippery, so your fingers will glide over your most sensitive areas even better, ” explains Lords. You don’ t even have to masturbate just yet ( although if you turn yourself on and can’ t help it, you do you!), but just focus on touching yourself in a gentle, sensual way.
Take a few moments to lie down in bed, close your eyes, and imagine a sexy, kinky, or erotic fantasy, suggests Lords. If you fall asleep and wind up having a sexy dream, awesome. If not, you’ ve still taken the time to indulge yourself in some hot thoughts that can steam up your next self-pleasure session or lead you to a closer understanding of what you wan na try next in bed.
While some CBD arousal oils can compromise the integrity of latex barriers like condoms, if you’ re by yourself simply trying to get turned on, you don’ t have to worry about that, explains sexologist Megan Stubbs. “ Many people have reported heightened arousal, wetness, and orgasm intensity ” from using CBD sex products, Stubbs says. Try some out for yourself and see if it makes a difference.
“ Sexting is a gift that keeps on giving, ” explains Marion Chloe Theis, a French love coach. “ It’ s good in the moment, and you can always re-read through the hot messages you exchanged afterwards, ” she explains. Sure, you might not actually be with the person you originally sexted, but the steamy fantasies are yours to relive as long as you like.
“ There’ s something special about the act of taking photos, ” says Sadie Allison, PhD, founder of GoLove CBD. Taking photos allows you to celebrate your body and simultaneously see yourself as the coveted object of desire you are, she explains.
Put on your favorite sexy silk nightgown, fancy lingerie, or go buff, and use your self-timer to take some hot photos simply for your own use. Knowing they’ re just for yourself can also make you less self-conscious about the whole thing. Plus posing and contorting your body for your own gaze is hella hot and empowering.
Look, don’ t act like you don’ t already know. It’ s the middle of season 2, and Issa ( Issa Rae) is stuck in a Ferris wheel carousel at Coachella with Nathan ( Kendrick Sampson) when the two realize they’ re totally alone, and, well, let’ s just say that things ensue.
What’ s sexier than you? Literally nothing! Remind yourself how ~hot~ you are, and turn yourself on in the most au naturel way imaginable. If it feels a lil strange, try concentrating on the physical features you love the most about yourself, like how shiny your hair is, how sparkling your eyes are, or how bomb that fresh manicure looks when it's caressing your curves.
According to a very official ( ish) Cosmo poll, most of you like lounging around in your lingerie when you’ re alone anyway. Put on your laciest, strappiest, sexiest piece and the rest will come ( literally).
Sometimes just looking at new ways to get yourself off can be a horny activity on its own. Pull up a bunch o ' tabs and see which sex toys have the people talking. Pro tip: The reviews are where all the really hot and juicy stuff is.
Because, um, that’ s when most of the naked grinding happens. You’ re welcome. It doesn't matter that the movie came out in 2012 (!!!). The majesty and ART of a naked Channing Tatum stripping on screen will get the job done for generations.
Stop playing innocent and just do it. You know it works.
There are a lot of options out there by way of audio porn, so def don't knock it until you try it. There are sexy stories, guided masturbation tracks, and even sites where people can submit audio files of themselves having sex. Whatever your kink or desire, there's absolutely an audio option that 'll do it for you. Also, a big perk: You can listen to it on your headphones at work to be horny by the time you get home. No judgment.
Yup, just like there are great songs to have sex to, there are great songs to masturbate to as well. The right beat can help you get out of your head and get into the right vibe. Pull the blinds, crank up the volume, and let the music wash over you like liquid horniness.
Reddit has a bad reputation for being a cesspool of misogynistic garbage, but there are also a lot of nice, sex-friendly, and very sexy subreddits that are perfect fodder for getting horny in a matter of minutes. From sultry fiction to naughty IRL accounts, this is one internet spiral that 'll result in an orgasm as opposed to like, a whole bunch of random shit from Amazon you absolutely don't need.
Erika Lust is a total badass who makes feminist porn, aka porn in which women are the focus, and they actually look like they’ re getting turned on and getting off. Some of her videos are subscription-based, but some are free. FWIW though: For porn to be ethical ( like, everyone's getting paid well and the safety standards are high), you 'll need to pay. Which is a good thing! It helps ensure more ethical porn is made. And if Lust's stuff isn't for you, there's a wide variety of ethical, feminist porn out there, most of which focuses on sex from a female gaze and not the hetero male fantasy seen in the days of yore. Hiiiiighly recommend.
You’ re already naked and you look super dope, plus there’ s water. Use really great-smelling bath stuff, put lotion on every single part of your body afterward, and just be with yourself. No texting, no distractions. Just sit with yourself in your awesome body and be present in it.
All the content on OMGyes, a scientist-backed site that delivers deep dives on female pleasure, is centered around teaching everyone more about orgasms. But if you thought science couldn’ t be sexy, you thought wrong. Peruse OMGyes’ s demonstration videos to learn more about your own bod and get horny while you’ re at it.
Even if you feel like that’ s not something you’ d be into, sites like Your Erotic Stories, Nifty, and Alt.Sex.Stories let you use popular search terms to try and figure out what you might like, and trust us, they literally have every genre you can think of. Plus, they're free. One of the search terms is “ hunks, ” so if you’ re into hunks, you’ re welcome.
Doesn’ t even have to be anything particularly sexy. I’ m not saying you should put on The Muppet Movie soundtrack, but it can be whatever you feel like at the moment. The more you move your body and feel really good about it, the easier it’ ll be to want to move your body in, uh, other ways.
Sure, looking at scantily clad photos can do wonders ( please see # 1), but another way to get your mind working with your body is to actually watch the way your celeb crush moves and speaks. This can make it easier to imagine them doing other things. Like, other things to you. Interview over!!! | general |
Can COVID-19 changes reduce stigma in African HIV clinics? | There is an extensive body of literature showing that HIV stigma is a barrier to HIV care at every level of the care cascade.1Turan B Budhwani H Fazeli PL et al.How does stigma affect people living with HIV? The mediating roles of internalized and anticipated HIV stigma in the effects of perceived community stigma on health and psychosocial outcomes.AIDS Behav. 2017; 21: 283-291Google Scholar HIV stigma reduces HIV testing, disclosure, engagement in treatment, adherence to medication, and retention in care.2Rueda S Mitra S Chen S et al.Examining the associations between HIV-related stigma and health outcomes in people living with HIV/AIDS: a series of meta-analyses.BMJ Open. 2016; 6e011453Google Scholar Stigma is also related to poor social support and increased depression, both of which worsen health outcomes.1Turan B Budhwani H Fazeli PL et al.How does stigma affect people living with HIV? The mediating roles of internalized and anticipated HIV stigma in the effects of perceived community stigma on health and psychosocial outcomes.AIDS Behav. 2017; 21: 283-291Google Scholar
HIV stigma interventions that have been proposed and completed globally show small, targeted changes in stigma; however, overall, the efficacy of stigma interventions is disappointing,3Mak WWS Mo PKH Ma GYK Lam MYY Meta-analysis and systematic review of studies on the effectiveness of HIV stigma reduction programs.Soc Sci Med. 2017; 188: 30-40Google Scholar, 4Smith MK Xu RH Hunt SL et al.Combating HIV stigma in low- and middle-income healthcare settings: a scoping review.J Int AIDS Soc. 2020; 23e25553Google Scholar perhaps because interventions are often designed by those outside the communities served. Thus, although further work on stigma interventions is vital, particularly those that have been initiated locally with the involvement of community members, perhaps in order to improve HIV care the focus should be shifted to clinic systems.
Since the late 2000s, standard HIV drugs and care models have been used in low-income countries. Individuals came to the clinic in the morning, waited in a large area to see the clinicians, queued for drugs in a communal space, and received adherence counselling in a public place. Although efficient and convenient for the providers, this strategy has led to care delivery that does not protect the privacy of people with HIV and promotes inadvertent disclosure of HIV status. Many surveys and studies show clients will go to a clinic further away to avoid disclosure of HIV status. Clients cite poor privacy as a substantial barrier to HIV care and express their desire for changes to this care model.5Lofgren SM Tsui S Atuyambe L et al.Barriers to HIV care in Uganda and implications for universal test-and-treat: a qualitative study.AIDS Care. 2021; ( published online July 27.) https: //doi.org/10.1080/09540121.2021.1946000Google Scholar
Similar to privacy concerns, there is a concern around the use of resources. Usual care includes a clinic visit at least quarterly to see a clinician and collect medication. These frequent visits are a substantial time and transportation burden to those presenting for care. Additionally, visits with people who are stably virally suppressed reduces time for people newly presenting for care or those struggling with treatment. In the USA and elsewhere, people with virally suppressed HIV are seen only once or twice a year. For years there have been calls for differentiated service delivery ( DSD) models that aim to make treatment more client-centred by reducing clinic visits,6Huber A Pascoe S Nichols B et al.Differentiated service delivery models for HIV treatment in Malawi, South Africa, and Zambia: a landscape analysis.Glob Health Sci Pract. 2021; 9: 296-307Google Scholar and which seek to reduce costs to the client and the facility. DSD models also aim to improve health outcomes.6Huber A Pascoe S Nichols B et al.Differentiated service delivery models for HIV treatment in Malawi, South Africa, and Zambia: a landscape analysis.Glob Health Sci Pract. 2021; 9: 296-307Google Scholar However, institutional inertia, among other constraints, has prevented these DSD models from being implemented systematically.7ICAP Global HealthDifferentiated service delivery in Uganda.https: //cquin.icap.columbia.edu/the-work/uganda/Date accessed: February 4, 2022Google Scholar
During the COVID-19 crisis, HIV clinics globally pivoted their care delivery model. Virtual visits became the norm in the USA and other high resource settings. In low resource settings in sub-Saharan Africa, such as Uganda, clinics implemented social distancing practices for both staff and clients. Clinics called each client to check-in, sent drugs in larger quantities via motorcycle taxis, switched from open clinics to scheduled clinics, and reduced barriers to those transferring between clinics or obtaining drugs from the client's non-primary clinic due to travel restrictions.8Linnemayr S Jennings Mayo-Wilson L Saya U et al.HIV care experiences during the COVID-19 pandemic: mixed-methods telephone interviews with clinic-enrolled HIV-infected adults in Uganda.AIDS Behav. 2021; 25: 28-39Google Scholar The focus deprioritised visits for long-term virally suppressed individuals, to visits for individuals with acute issues, new diagnoses, or for those newly re-initiating care. Although these strategies help reduce transmission of SARS-CoV-2, they might offer an opportunity to improve privacy and care delivery with an unintended but essential effect on reducing stigma.
All these innovative methods to reduce clinic volume would probably improve privacy. Fewer people in a clinic would reduce the likelihood of unintentional disclosure. Clinicians could provide medications in larger quantities via mobile dispensation or via a person of contact for multiple co-located individuals. Shifting the focus to clients newly presenting for care could improve engagement and allow time for assisted disclosure to partners and case tracking. As the community becomes aware that clinics are more private than before, stigma about attending clinics might reduce over time. These changes are in line with advocacy initiatives.6Huber A Pascoe S Nichols B et al.Differentiated service delivery models for HIV treatment in Malawi, South Africa, and Zambia: a landscape analysis.Glob Health Sci Pract. 2021; 9: 296-307Google Scholar The pandemic could be a catalyst for change.
Overall, the COVID-19 crisis has been devastating globally, especially in resource-limited areas.8Linnemayr S Jennings Mayo-Wilson L Saya U et al.HIV care experiences during the COVID-19 pandemic: mixed-methods telephone interviews with clinic-enrolled HIV-infected adults in Uganda.AIDS Behav. 2021; 25: 28-39Google Scholar However, the pandemic also presents an opportunity. As health-care systems have adapted to reduce the risk of SARS-CoV-2 transmission, they have shown that there is bandwidth for new care delivery models that might be more client-centred.9Grimsrud A Ehrenkranz P Sikazwe I Silver linings: how COVID-19 expedited differentiated service delivery for HIV.J Int AIDS Soc. 2021; 24e25807Google Scholar Additionally, improving clinic privacy would have many downstream improvements for the HIV care cascade. The global pandemic might have shifted institutional inertia, which could provide an opportunity to enact these changes.10Rosen S Grimsrud A Ehrenkranz P Katz I Models of service delivery for optimizing a patient's first six months on antiretroviral therapy for HIV: an applied research agenda.Gates Open Res. 2020; 4: 116Google Scholar During the pandemic, the full implementation of changes, especially those requiring staff oversight, might be difficult to achieve given the risk of acquiring COVID-19; however, in the long term, making changes to the health system for HIV care could be powerful.
SML is supported by the National Institute of Mental Health ( K23MH121220, R21MH128839). BC is supported by the Fogarty International Center ( D43TW009771) and by the European Commission ERA-Learn ( TWA2017GSF-1936). We declare no competing interests. | tech |
Analysis-China Eastern crash could set back Boeing's China recovery, return of MAX | The 737-800 that crashed on Monday does not have the equipment that led to 737 MAX crashes more than three years ago, but that may not make a difference to Chinese passengers and a national regulator known for scrupulous safety requirements.
China Eastern said the cause of the crash was under investigation. Such accidents typically involve multiple factors, and experts warned it was far too early to draw any conclusions on the potential causes, especially in light of the scarce information available.
China was the first country to ground the 737 MAX after fatal crashes in Indonesia and Ethiopia more than three years ago, and it is the only major market where the MAX has not resumed commercial flights.
A 737 MAX built for China Eastern subsidiary Shanghai Airlines took off from Seattle bound for Boeing's completion plant in Zhoushan last week, industry sources said, in a sign the model's return to service in China was close.
The plane landed in Guam on March 15 as part of a multi-leg journey and has not moved in the week since, according to flight tracking website FlightRadar24. Boeing declined to comment.
Robert Spingarn, a managing director at Melius Research who focuses on the aerospace sector, said the MAX's return in China could be delayed until authorities there had some answers on the cause of the China Eastern crash. China's aviation regulator is known for being very thorough on safety issues.
Chinese airlines do not need new MAX planes because demand is down following the country's biggest COVID-19 outbreaks in two years, industry sources said. But the U.S. manufacturer has more than 140 MAX jets already built for Chinese customers waiting to be delivered once the jet returns to commercial service there, a person familiar with the matter said.
Boeing's shares closed 3.6% lower on Monday. Boeing declined to comment on whether the crash could delay a business recovery in China, while China's aviation regulator did not respond immediately to a request for comment.
The 737-800 that crashed is an earlier model with a strong safety record and there are nearly 1,200 in service in China, making it the world's largest market for the plane, according to aviation consulting firm IBA.
More than 4,200 737-800s are in service globally, data from aviation firm Cirium shows.
China Eastern and two of its subsidiaries on Monday grounded its fleet of 737-800 planes. The group has 225 of the aircraft, data from British aviation consultancy IBA shows.
Other Chinese carriers are continuing to fly the jets, according to data from Chinese aviation data provider Flight Master.
Jefferies analysts said China's aviation regulator was unlikely to ground the 737-800 fleet unless it specifically suspected a technical failure as the root cause because of the operational consequences of grounding more than 1,000 planes in the world's second-biggest domestic aviation market.
However, there are concerns the Chinese public could look to avoid flying on 737-800s until the cause of the crash is determined, given the broader reputational issues with the 737 family caused by the MAX, Cowen analyst Cai von Rumohr said in a note.
`` Hence, isolating the cause of the crash will be critical, '' he added, noting the leading causes of commercial air transport crashes tend to be maintenance issues, pilot error or sabotage, rather than manufacturing or design issues.
Boeing cancelled a meeting of its senior executives scheduled for this week in Miami to focus its attention on assisting the investigation and China Eastern, a second person familiar with the matter told Reuters.
`` We have been in close communication with our customer and regulatory authorities since the accident, and have offered the full support of our technical experts to the investigation, '' Boeing CEO Dave Calhoun said in a memo to employees, which was seen by Reuters.
( Reporting by Jamie Freed in Sydney and Eric M. Johnson in Seattle; additional reporting by Abhijith Ganapavaram in Bengaluru, Allison Lampert in Montreal, David Shepardson in Washington, Aleksandra Michalska in New York, Rajesh Kumar Singh in Chicago and Stella Qiu in Beijing; Editing by Peter Henderson, Leslie Adler and Christian Schmollinger)
By Jamie Freed and Eric M. Johnson | business |
WTO trade talks in disarray amid Ukraine tensions - sources | Russia's invasion of Ukraine and the ensuing economic isolation as a result of Western sanctions are the latest setback to WTO efforts to restore rules-based trade against a tide of growing protectionism.
Trade delegates now fear a June 13 meeting of trade ministers - originally slated for 2020 but twice delayed because of the coronavirus pandemic - will fail to yield deals.
`` There are WTO members who do not want to negotiate with Russia, '' said Hamid Mamdouh, an ex-WTO official and trade lawyer in Geneva. `` The longer the war drags on, the more disruptive it will be to the work of the WTO. ''
Washington and G7 partners have already announced they are revoking Russia's `` most favoured nation '' status, under which countries agree to treat each other as equal trading partners, and are withdrawing support for the eventual accession of Belarus, Moscow's close ally.
Russia in turn has accused the West of `` a complete dismantling '' of the world's trading system.
DISRUPTION
Beneath the barbed exchanges, tensions have affected the trade watchdog's nuts-and-bolts business.
One delegate from a Western country said those not engaging with Russia at the WTO included the European Union, the United States, Canada and Britain. Those missions did not respond to official requests for comment.
`` We refuse to engage bilaterally or in the context of smaller groups, '' the source said.
The policy has so far affected negotiations on fisheries, agriculture as well as e-commerce and investment facilitation, the trade sources said, saying meetings were either postponed or never scheduled.
`` Many governments have raised objections to what is happening in Ukraine and these objections have manifested themselves in a lack of engagement with the member concerned, '' WTO spokesperson Keith Rockwell said.
Well before Russia's actions in Ukraine, the 27-year old body was already under pressure to prove its relevance.
With its top dispute settlement body paralysed since 2019 by the opposition of former U.S. President Donald Trump to its methods, and no major global trade deal in years, the June meeting is seen by some as a last chance to redeem itself.
WTO ministerials typically take place every two years but officials delayed the 2020 meeting by 18 months to Nov. 2021 due to COVID, only to have the plan scuppered by the Omicron wave.
The new date was fixed a day before Russia's invasion.
`` The cumulative effect ( of the problems) could lead the WTO to a breaking point, '' said Mamdouh.
( Reporting by Emma Farge; Editing by Gareth Jones)
By Emma Farge | business |
Former Takeda vaccine chief to lead new COVID antiviral venture Aerium | - Aerium Therapeutics, a venture-backed startup, on Tuesday announced industry veteran Rajeev Venkayya will lead the company and released data that showed its two experimental monoclonal antibodies neutralized coronavirus variants, including Omicron and its fast-spreading subvariant BA.2, in lab studies.
Venkayya brings instant credibility to the new venture. He left Tokyo-based Takeda Pharmaceutical Co last month after serving as president of its global vaccine business.
Takeda has vaccines against dengue and Zika in the works, and has been making and distributing COVID-19 shots for Moderna and Novavax in Japan during the pandemic.
Aerium, which raised an undisclosed sum in Series A financing through Omega Funds and F-Prime Capital, will be based in Boston with research and development operations in Lausanne, Switzerland.
In an interview, Venkayya said he stayed at Takeda for 10 years - longer than he expected - adding that with the dengue vaccine expected to launch sometime this year, the time for a move was right.
The company plans to develop its two monoclonal antibodies for use in combination to prevent coronavirus infection in people who are immunocompromised and do not make a strong antibody response to vaccines.
`` I think these antibodies can make a huge difference if they're successfully developed for that population, '' Venkayya said. Beyond COVID, he said the company's antibody platform could have uses for other viral diseases as well.
The antibodies P2G3/P5C3 were tested in the laboratory and in animal studies against forms of the virus that have been shown to escape vaccine immunity including Delta and Omicron variants BA.1, BA.1.1 and BA.2.
The research was published on Tuesday on the preprint server BioRXiv and the company plans to submit the paper for publication in a peer-reviewed journal.
`` We think it will be very hard for the virus to mutate around this combination, '' Venkayya said.
He said the drugs, which are currently designed to be delivered via infusion, would eventually be modified to be given as an injection in a doctor's office every three-to-six months.
( Reporting by Julie Steenhuysen Editing by Bill Berkrot) | business |
Britain's Kingfisher sees profit jump 21% on COVID-19 boost | The group, which owns B & Q and Screwfix in the United Kingdom and Castorama and Brico Depot in France and other markets, said on Tuesday it made an adjusted profit before tax of 949 million pounds ( $ 1.25 billion) in the year to Jan. 31 - in line with analysts ' forecasts and up 20.9% from the 786 million pounds made in 2020-21.
Total sales rose 6.8% to 13.2 billion pounds with more people rediscovering DIY ( do-it-yourself) during the crisis as they spent more time at home, had fewer leisure options and travelled less.
`` While the macroeconomic and geopolitical environment is uncertain, you can expect from us continued focus on top line delivery and market share growth, strong execution, effective management of our gross margin, and active and responsive management of our operating costs, '' said CEO Thierry Garnier.
Like-for-like sales in the first quarter of the 2022-23 year so far to March 19 were down 8.1% year-on-year, but up 16% on a two year basis, with resilient demand across all markets supported by good stock availability.
The group is targeting net space growth of 1.5% in 2022-23 and said it was comfortable with the current analysts ' consensus for adjusted pretax profit of 769 million pounds.
Kingfisher proposed a total dividend per share of 12.4 pence, up 50.3%.
( $ 1 = 0.7618 pounds)
( Reporting by James Davey; Editing by Kate Holton, Kirsten Donovan) | business |
Most dealers see UK trimming gilt issuance plans in 2022/23 | The Debt Management Office's 2022/23 gilt issuance remit is likely to show about 147 billion pounds ( $ 193.8 billion) of bond sales, compared with 194.8 billion pounds in the current year, according to the median forecast in the poll.
The remit is due to be published on Wednesday, shortly after finance minister Rishi Sunak delivers his Spring Statement budget update to parliament.
British public borrowing with just one month left in the current financial year was less than half its level from a year earlier, official data showed on Tuesday, putting Sunak in a fairly comfortable spot as he prepares new forecasts.
Gilt issuance in the five financial years leading up to the COVID-19 pandemic averaged about 125 billion pounds a year, before desperate measures to prevent the collapse of Britain's economy pushed bond sales to a record 485.8 billion pounds in 2020/21.
For the first time since 2009, the BoE will not be an active buyer via its quantitative easing ( QE) programme, through which it ended up owning more than half the conventional gilts in issue in exchange for newly created central bank reserves.
The BoE has already started to reduce its 875 billion pound stock of gilts by allowing maturing bonds to roll off its balance sheet and has said it will consider active sales when the Bank Rate reaches 1%, from 0.75% presently.
A BoE survey of investors last week showed they expect active sales to start later this year.
`` Despite the sequential decline in the gilt remit, the overall issuance to the private market - gross supply minus gross QE - is expected to show the largest such increase in the past decade, '' UBS strategist Rohan Khanna said, citing a figure of around 80 billion pounds.
Primary dealers, or banks appointed by the government to help create a market for its debt, stressed uncertainty in their predictions about the outlook for government finances.
Rampant inflation pressures, increases in both taxation and borrowing costs, and the fallout from Russia's invasion of Ukraine on global commodity and energy prices make economic forecasting a tricky task right now.
The amount of overfunding - funds from debt sales that exceeded the government's financing need in 2021/22 - that will be carried over into 2022/23, and how much of that Sunak might on Wednesday use to help households facing the biggest squeeze in real incomes in at least 30 years, are additional uncertainties.
Forecasts for the 2022/23 remit ranged between 108.0 billion pounds and 211.2 billion pounds.
The poll suggested the DMO will plan to issue a similar mix of short, medium, long and index-linked gilts as in the current financial year.
The budget deficit in 2022/23 looks likely to fall to around 100 billion pounds from about 161 billion pounds forecast for the current financial year, the poll showed.
( Reporting by Andy Bruce; Editing by Nick Macfie)
By Andy Bruce | business |
Kyodo News Digest: March 22, 2022 -2- | The following is the latest list of selected news summaries by Kyodo News.
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Tokyo, 8 other prefs urged to save power as demand outstrips supply
TOKYO - Industry minister Koichi Hagiuda called on people in Tokyo and eight other prefectures on Tuesday to reduce their electricity consumption despite unseasonably cold weather as the aftermath of a large earthquake last week constricts power supply.
The request came a day after the government issued a warning over electricity availability and Tokyo Electric Power Company Holdings Inc. suggested there could be shortages in the region it services, with some thermal power plants remaining offline after Wednesday's quake that hit Japan's northeast.
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Russia's decision to halt peace treaty talks unacceptable: Kishida
TOKYO - Prime Minister Fumio Kishida said Tuesday that Japan views as unacceptable Russia's decision to suspend the countries ' negotiations on a post-World War II peace treaty, in response to Tokyo's sanctions on Moscow over its invasion of Ukraine.
`` Russia's actions are extremely unreasonable and totally unacceptable, '' Kishida told a Diet committee session. `` We strongly protest. ''
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Japan ends COVID-19 quasi-emergency in all 18 prefectures covered
TOKYO - A COVID-19 quasi-state of emergency ended Tuesday in all 18 prefectures covered, including Tokyo and Osaka, amid a declining trend in the number of new infections.
It is the first time since Jan. 8 that Japan has no emergency measures in place. But concerns remain that coronavirus cases could rise again driven by the highly contagious Omicron subvariant BA.2, with movements of people expected to increase significantly as the business and academic year ends in the coming days.
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Biden warns Russia could use chemical weapons in Ukraine
WASHINGTON - U.S. President Joe Biden on Monday warned Russia's claim that Ukraine has biological and chemical weapons is `` a clear sign '' Moscow is weighing the use of such armaments in its ongoing invasion of its neighbor.
Russian President Vladimir Putin's `` back is against the wall and now he's talking about new false flags he's setting up, including asserting that we in America have biological as well as chemical weapons in Europe, ( which is) simply not true, '' Biden said during a meeting with business leaders.
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Russia to halt peace treaty talks with Japan over sanctions
TOKYO - Russia's Foreign Ministry said it will suspend negotiations for a postwar peace treaty with Japan, deemed as an apparent reaction to Japan's sanctions against Moscow for invading Ukraine, prompting Tokyo to protest the move Tuesday.
Russia also announced Monday that it was halting a visa-free program that allows former Japanese residents to periodically visit the Russian-controlled, Japan-claimed islands off Hokkaido, while indicating that it will withdraw from joint economic activities on the disputed islands.
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Quick evacuation could cut quake fatalities by 80% in northern Japan
TOKYO - Fatalities caused by tsunami generated from a massive quake off Japan's north and northeastern Pacific coast could be reduced by 80 percent if people evacuate quickly, a government task force on disaster management said Tuesday.
The report followed the prediction last year by the Central Disaster Management Council that up to 199,000 people in seven prefectures, including Hokkaido and Iwate, could be killed if a magnitude 9-level quake strikes along the Japan and Chishima trenches.
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More Taiwanese believe Japan will aid Taiwan if China invades: poll
TAIPEI - Around 40 percent of Taiwanese believe Japan would dispatch troops to help defend Taiwan if China invaded the self-ruled island, more than those who think the United States would come to their assistance, according to a survey released Tuesday.
The two-day survey conducted from March 14 by the Taiwanese Public Opinion Foundation found that 43 percent of the respondents believe Japan would come to Taiwan's aid militarily should China attack, while those who said the United States would dispatch troops to the island came to 35 percent.
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Baseball: Angels ' Ohtani hits 99 mph in spring mound debut
TEMPE, Arizona - Two-way star Shohei Ohtani threw a 99-mile-per-hour pitch in his first mound appearance of 2022 in the Los Angeles Angels ' 8-5 preseason loss to the Kansas City Royals at Tempe Diablo Stadium on Monday.
The reigning American League MVP said he was working more on refining his mechanics than increasing his speed, saying the only time he threw hard is when he tried to be aggressive in two-strike counts.
==Kyodo
© Kyodo News International, Inc., source Newswire | business |
Youth turnout could save, or sink, Democrats in 2022 |
Soaring turnout and big margins among young voters were central to the Democratic victories in the 2018 congressional and 2020 presidential elections. But with many young people expressing disenchantment with
President Joe Biden
's performance, preserving those advantages looms as one of the biggest challenges facing Democrats in the
2022 midterms
.
There's widespread concern among Democrats that
turnout for young people
this November could fall back from its gains in 2018 toward the meager levels that contributed to the party's crushing losses in the 2014 and 2010 midterm elections.
`` If you accept the status quo with young people, it's not going to go great, '' says Democratic pollster Ben Tulchin. `` Turnout is not going to be good. ''
My stern warning to the Biden administration and Democrats is you have to take this seriously, because if we do go back to a 2010 or 2014 model where they really fall off it's going to make it very difficult for us in November.
Ben Tulchin, a Democratic pollster
Most Republicans are expecting exactly that sort of decline, driven both by waning enthusiasm for Biden and diminishing concern about
Donald Trump
, whose visibility has dimmed since he left the White House.
`` We are seeing that younger voters who were voting in some of these elections because of Trump don't seem to be inspired by Biden, and I think their turnout will fall back to traditional levels, '' says GOP consultant John Brabender.
Read More
Some structural dynamics may help to sustain youth turnout this fall. Many experts note that the large youth turnout of 2018 and 2020 creates momentum for continued participation, because people who register and vote in one election are more likely to vote in the next. Over the past two elections, Democrats and nonpartisan groups have built a significant organizational infrastructure to engage more young voters, and those efforts are continuing through 2022.
`` The elevated youth turnout and the elevated youth registration and participation that we saw from '16 to '18 to '20 is not magic, '' says Nsé Ufot, chief executive officer of the New Georgia Project, a non-profit voter registration and mobilization group founded by
Stacey Abrams
. `` It is absolutely a direct result of our investment and our labor and targeting that particular group. ''
'Young Republicans might not be marching in the streets, but they are mobilizing ': Gen Z Republicans express optimism ahead of midterms
Yet many strategists focusing on the youth vote agree that these factors may not be enough to prevent a significant fall-off without changes in the political environment. One key for Democrats will be finding ways to raise the visibility of Trump, who was deeply unpopular with the youngest voters. Even more important may be Biden finding ways to generate more progress than he has so far on issues important to younger generations, particularly combating climate change and reducing the burden of student debt.
`` My stern warning to the Biden administration and Democrats is you have to take this seriously, because if we do go back to a 2010 or 2014 model where they really fall off it's going to make it very difficult for us in November, '' says Tulchin, who served as the pollster for Bernie Sanders during the 2020 primary campaign, when the senator from Vermont dominated Biden among younger voters.
A coming shift in electoral power
On paper, the increasing electoral influence of the millennial generation and Generation Z could be one of the Democrats ' most significant assets through the 2020s. Each of those generations is much more racially and culturally diverse than older Americans, especially the baby boomers, who are about 80% White and now lean mostly toward the GOP. Nearly half of Generation Z (
currently defined as young people born between 1997 and 2012
)
are kids of color
,
more than one-third identify as secular
without affiliation to any organized religion and a striking one-fifth in a recent Gallup survey
identified as LGBTQ
. Millennials ( generally defined as those born between 1981 and 1996) don't tilt quite so far toward change but are still far more diverse on each metric than older generations.
Inexorably, the balance of electoral power is shifting toward these younger generations. William Frey, a demographer at the Brookings Institution's Metropolitan Policy Program, told me that he projects about 17 million young people will turn 18 between the 2020 and 2024 elections, and that fully 49% of them will be kids of color. Simultaneously, more of the predominantly White baby boomers and members of the Silent Generation are aging out of the electorate.
The
nonpartisan States of Change project
( which Frey advises) calculated that in 2016, millennials and their younger Generation Z counterparts accounted for a little less than one-third of eligible voters, far less than the nearly 45% represented by the baby boomers and older generations. By 2024, those numbers will more than flip: The group projects that millennials and Generation Z will account for nearly 45% of eligible voters, while baby boomers and older generations will shrink to about one-fourth. ( Generation X, those born between 1965 and 1980, stay constant at about one-fourth of the electorate throughout that period.)
But the electoral impact of these demographic shifts has been diluted by low turnout among younger voters -- a problem that has been especially acute in midterm elections.
The increase in youth voter turnout in the 2020 election means there are more young people on the voter rolls than at any time in recent elections. We know that young people who are registered to vote are dramatically more likely to turn out than people who start the year not registered to vote.
Abby Kiesa, deputy director, CIRCLE
Those trends, though, dramatically reversed in the past two elections, enormously boosting Democrats in the process. In the 2020 presidential election, exactly half of eligible voters younger than 30 cast ballots, according to a detailed
study by CIRCLE
( the Center for Information and Research on Civic Learning and Engagement), an institute at Tufts University that studies younger voters. That was still less than the number for older generations, but it constituted a huge jump from their 39% turnout rate in 2016. Youth turnout, the group found, did not decline in any state from 2016 through 2020 and multiple states saw double-digit increases -- including Arizona, Georgia, Michigan and Nevada, states that keyed Biden's victory.
The 2018 upsurge may have been even more striking. Voter turnout is much lower for every group in midterm elections, and it has been especially bad among young people. But in 2018,
CIRCLE found
, more than twice as large a share of eligible young voters turned out than in 2014, the previous midterms. That pushed youth turnout in 2018 past 28%, up from 13% four years before. Once again, the changes were broad-based, with CIRCLE finding that youth turnout increased in every state.
`` We have seen two important election cycles in a row where young people have been leading, '' says Abby Kiesa, CIRCLE's deputy director.
For Democrats, the benefits of this expanded youth turnout were compounded by widening margins. In 2016, Hillary Clinton was held below 60% of the vote among young adults not because they preferred Trump but because so many of them defected to third party candidates, according to most data sources about the election results. But in 2018 and 2020, Democrats swelled that advantage. In 2018, they carried at least two-thirds of voters aged 18-29, according to sources such as the
exit polls conducted by Edison Research
, the Pew Research Center's
validated voters study
and the
analysis by Catalist
, a leading Democratic targeting firm. In 2020, all three of those sources ( as well as CIRCLE's analysis) found that Biden carried around three-fifths of young adults.
Still, Biden's showing represented a decline from the Democratic performance among young voters in 2018 and extended the difficulty he had connecting with them during the 2020 Democratic primaries -- when they broke for Sanders over him by about 4 to 1, according to a
cumulative CNN analysis
of exit polls at the time. Public opinion polls show that Biden's troubles with young voters have persisted into his presidency. In the
latest CNN national survey
, just 40% of those aged 18-34 said they approved of his job performance, and fewer than 3 in 10 described him as a strong leader. Other polls, like last week's
Monmouth University survey
, have registered similar weakness.
The enthusiasm factor
The fall-off between Biden's 2020 vote share among younger people and his current approval rating may be larger than for any other major group. That gap is the principal reason why many in both parties believe Democrats will struggle to match the elevated youth turnout during the past two campaigns. `` They are not going to show up in a midterm election to support a president that they are not... enthusiastic about, '' Brabender predicts. The
surge of laws
Republican-controlled state legislatures have passed since 2020 making it more difficult to vote could also disproportionately deter younger voters. Analyses by CIRCLE and the Fair Elections Center have found that 2020 youth turnout was highest in states that facilitated voting -- including Colorado, Oregon and Washington, states with accommodating registration laws and universal mail balloting.
`` All of the things we see that make it more difficult to vote early, or vote by mail, they affect a number of different communities, but students are very much up there on that list, '' says Bob Brandon, president and CEO of the Fair Elections Center, which recently published a
study on barriers to youth voting
.
Florida state legislature leads the charge on a number of GOP priorities
Almost everyone working with young voters agrees it will be challenging to replicate the turnout surges of 2018 and 2020. But most also say it's too early to concede that a decline is inevitable, especially to the very low levels of the 2014 and 2010 midterms, when Republicans made enormous gains.
`` There is still time to impact them, '' says Tulchin. `` We are not locked in from here to November. ''
The biggest asset for those working to nudge younger voters to the polls is that so many of them have voted in the recent past. Prior registration and voting are among the best predictors of future participation.
Kiesa says that while the current political climate is unlikely to generate record turnout among young people, neither does she believe that Biden's lagging approval rating with them `` means going back to 2014 levels of midterm turnout. ''
`` The increase in youth voter turnout in the 2020 election means there are more young people on the voter rolls than at any time in recent elections, '' she told me. `` We know that young people who are registered to vote are dramatically more likely to turn out than people who start the year not registered to vote. That is a huge opportunity... for young people to be reaching out to each other and for parties and campaigns to be reaching out to them. ''
Figures provided to CNN by Catalist, the Democratic targeting firm, underscore her point. In the 2018 midterms, the firm calculates, the elevated youth turnout resulted in about 27 million millennials and members of Generation Z casting ballots. But in the historic overall turnout of 2020, the number of voters from the two youngest generations swelled to more than 49 million. Since then, according to Frey's calculations, about another 8.5 million in Generation Z have turned 18, the vast majority of them citizens eligible to vote. Those figures suggest the size of the pool Democrats have available to try to match -- or at least approach -- the number of young voters in 2018.
I don't think it's enough for Democrats to simply point to the other side and say, 'Life could be worse. ' Ultimately they also need to show people how their lives could be better.
Cristina Tzintzún Ramirez, president and executive director of NextGen America
After all the exertions of 2018 and 2020, the organizational structure for that kind of outreach has also grown much more robust. NextGen America, a group founded by former Democratic presidential candidate Tom Steyer that focuses on youth mobilization, is looking to turn out 9.6 million adults aged 18-34 this year in eight battleground states ( including most of those likely to decide Senate control). Cristina Tzintzún Ramirez, the group's president and executive director, says one of its principal targets will be the more than 2 million young people across those states who voted in 2020 but not in the previous midterms of 2018.
In no state was youth turnout more critical to recent Democratic gains than Georgia, where strong turnout by young people helped key both Biden's narrow win in 2020 and the stunning
twin Senate runoff victories in early 2021
that provided Democrats control of the chamber. This year, the state is facing closely contested races for both governor and Senate, with Democratic Sen. Raphael Warnock seeking a full term and Abrams making her second bid for governor.
Ufot says a majority of the targets for the New Georgia Project's turnout efforts in those contests will be voters younger than 35. Though many of those younger adults have been disappointed by the failure of Biden and congressional Democrats to deliver on many of their promises during those campaigns, she says, the group is confident it can mobilize a robust youth turnout anyway.
`` We are not relying on enthusiasm ( for Biden) at all, '' she says. `` We are relying on organizing, connecting the power of the vote to the things that young Georgians told us they are willing to fight for, that they are willing to take to the streets for. ''
Unfulfilled promises
Still, political operatives agree that even the most expertly constructed turnout machine needs some enthusiasm to fuel its engine. Those focusing on the youth vote say progress on criminal justice or climate change might help engage more young people this year -- as might Democrats focusing more attention on the
threats across Republican-controlled states
to abortion, voting and LGBTQ rights, and the proposals to censor teachers and ban books. But without exception, each activist and operative I spoke with said the most important thing Biden could do to energize more young voters would be to cancel more student debt.
`` I don't think it's enough for Democrats to simply point to the other side and say, 'Life could be worse, ' '' says Tzintzún Ramirez. `` Ultimately they also need to show people how their lives could be better. ''
Young people turned out in huge numbers, basically they won the election. And what have they seen delivered? That's the issue. Unfortunately, like the public at large, all the stuff that has been delivered just doesn't feel like it.
Bob Brandon, president and CEO of the Fair Elections Center
Nothing would send that message more powerfully, she says, than canceling more student debt, as Biden promised during the campaign. `` There is deep, deep economic pain for many young adults across the country, and there is nothing I can think of that the Biden administration could do that is a real campaign promise fulfilment, is obviously politically advantageous and is advantageous to the lives of millions of people, '' Tzintzún Ramirez says in a view echoed by many of those in the field.
Biden has repeatedly
extended a moratorium
on student loan payments that the federal government imposed when the pandemic struck in 2020, and he is expected to extend it again later this spring. He's also instituted other
changes that reduced debts
for some borrowers. But to the frustration of activists and some prominent Democratic senators, he has refused to move further on actually canceling debt while the Education Department studies whether he has the authority to do so unilaterally. The President seems skeptical that the answer is yes and many advocates now view the study as essentially a delaying tactic.
`` We're not sure what they are waiting for, '' says Tzintzún Ramirez.
Pressure grows on Biden administration to change student loan bankruptcy rules
Biden's hesitancy about canceling debt has left advocates for young voters in the same frustrated position as many groups in the Democratic coalition, from civil rights lawyers to climate activists. All can point to actions Biden and the Democratic-led Congress have taken to advance their causes and benefit their constituents; young people, for instance, received critical economic benefits from many of the provisions in the
$ 1.9 trillion Covid-19 recovery plan
Biden signed last year.
But those benefits, for many, have been overshadowed by the many promises Democrats haven't fulfilled on issues important to their voters.
`` Young people turned out in huge numbers, basically they won the election '' for Democrats, says Brandon. `` And what have they seen delivered? That's the issue. Unfortunately, like the public at large, all the stuff that has been delivered just doesn't feel like it. ''
Unless that changes for more young adults before November, Democrats may be left lamenting a lost opportunity -- and facing the sort of depressed youth turnout that battered them so badly in 2014 and 2010. | general |
Bank of Montreal Announces $ 2.70 Billion Public Offering of Common Shares | /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 22, 2022 /CNW/ - Bank of Montreal ( TSX: BMO) ( NYSE: BMO) ( the `` Bank '') today announced a public offering of 18,125,000 common shares at a price of $ 149.00 per common share for total gross proceeds of $ 2.70 billion. The offering is being underwritten on a bought-deal basis by a syndicate of underwriters led by BMO Capital Markets. The Bank has granted to the underwriters an option to purchase up to an additional 2,718,750 common shares at a price of $ 149.00 per common share exercisable at any time up to 30 days after closing of the offering.
The Bank intends to use the net proceeds from the offering to finance a portion of the purchase price for its previously-announced acquisition of Bank of the West and its subsidiaries ( the `` Acquisition ''). The Bank expects to fund the Acquisition primarily with excess capital, reflecting its strong capital position and anticipated capital generation.
The anticipated closing date of the offering is March 29, 2022. Closing is subject to customary conditions, including Toronto Stock Exchange approval. The closing of the offering is not conditional on closing of the Acquisition. Common shares sold pursuant to the offering will remain outstanding whether or not the Acquisition is completed.
The common shares will be offered for sale to the public in all of the provinces and territories of Canada by way of a prospectus supplement to the Bank's short form base shelf prospectus dated March 11, 2022, and will also be offered on a private placement basis in the U.S. to qualified institutional buyers in transactions exempt from the registration requirements of the U.S. Securities Act of 1933, as amended ( the `` U.S. Securities Act '') and in other international jurisdictions in reliance on applicable private placement exemptions.
The common shares sold pursuant to the offering have not been, and will not be, registered under the U.S. Securities Act, and may not be offered, sold or delivered directly, or indirectly, in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy such common shares in the United States or in any other jurisdiction where such offer is unlawful.
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $ 1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Certain statements in this press release are forward-looking statements. All such statements are made pursuant to the `` safe harbor '' provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements in this press release may include, but are not limited to, statements with respect to the expected timing and closing of the Acquisition and the offering, and the use of proceeds of the offering. Forward-looking statements are typically identified by words such as `` will '', `` would '', `` should '', `` believe '', `` expect '', `` anticipate '', `` project '', `` intend '', `` estimate '', `` plan '', `` goal '', `` commit '', `` target '', `` may '', `` might '', `` schedule '', `` forecast '' and `` could '' or negative or grammatical variations thereof.
By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct, and that actual results may differ materially from such predictions, forecasts, conclusions or projections. The uncertainty created by the COVID-19 pandemic has heightened this risk, given the increased challenge in making assumptions, predictions, forecasts, conclusions or projections. We caution readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors – many of which are beyond our control and the effects of which can be difficult to predict – could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: the possibility that the Acquisition or the offering does not close when expected or at all because required regulatory approvals and other conditions to closing are not received or satisfied on a timely basis or at all or are received subject to adverse conditions or requirements; the ability to fund the Acquisition from existing excess capital and anticipated capital generation and the offering on terms acceptable to us; and those other factors discussed in the `` Risks That May Affect Future Results '' section, and the sections related to credit and counterparty, market, insurance, liquidity and funding, operational non-financial, legal and regulatory, strategic, environmental and social, and reputation risk, in the `` Enterprise-Wide Risk Management '' section of BMO's 2021 Annual Report, as updated by quarterly reports, all of which outline certain key factors and risks that may affect our future results and our ability to anticipate and effectively manage risks arising from all of the foregoing factors. We caution that the foregoing list is not exhaustive of all possible factors. Other factors and risks could adversely affect our results. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.
We do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by law.
Internet: www.bmo.com; Twitter: @ BMOMedia
SOURCE BMO Financial Group
© Canada Newswire, source Canada Newswire English | business |
Ritonavir and COVID-19: pragmatic guidance is important | We thank Joseph Heskin and colleagues1Heskin J Pallett SJC Mughal N et al.Caution required with use of ritonavir-boosted PF-07321332 in COVID-19 management.Lancet. 2022; 399: 21-22Google Scholar for highlighting the crucial issue of drug–drug interactions ( DDIs) with ritonavir, the pharmacoenhancer or booster co-formulated with the novel SARS-CoV-2 protease inhibitor, PF-07321332 ( Paxlovid, Pfizer [ New York, NY, USA ]).2US Food and Drug AdministrationCoronavirus ( COVID-19) update: FDA authorizes first oral antiviral for treatment of COVID-19.https: //www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-authorizes-first-oral-antiviral-treatment-covid-19Date: Dec 22, 2021Date accessed: February 25, 2022Google Scholar Since Paxlovid will be primarily administered to non-hospitalised individuals and prescribed by clinicians who might not routinely manage complex interactions or have access to their full medication list, an awareness of the DDI potential and clear pathways to support safe decision making are essential, ideally led by pharmacists who have speciality knowledge in this area. If managed appropriately, DDI should, in most cases, not necessitate a change in antiviral management.
The onset of ritonavir's inhibitory effect on the CYP3A4 isoenzyme, and to a lesser degree CYP2D6, is rapid, but the inhibition is also lost rapidly after drug cessation, mostly within 2 days.3Stader F Khoo S Stoeckle M et al.Stopping lopinavir/ritonavir in COVID-19 patients: duration of the drug interacting effect.J Antimicrob Chemother. 2020; 75: 3084-3086Google Scholar This information is important to guide dose adjustment or pause of concomitant medication where advised. As Heskin and colleagues clearly highlight, ritonavir also induces several cytochrome P450 isoenzymes, but this induction effect is slow to develop and is unlikely to be of clinical importance when used in a short course. However, an important consideration in people established on strong CYP3A inducers, such as carbamazepine, phenytoin, and rifampicin, is that these inducers are likely to reduce nirmatrelvir exposure and, as induction persists for about 2 weeks after cessation, are a contraindication to its use.
The clinical impact of DDIs depends on a number of factors including: the therapeutic window of the co-administered drug; the degree to which co-administered drugs are metabolised via CYP3A4 ( ie, higher DDIs magnitudes are anticipated for those extensively metabolised by CYP3A4, for instance simvastatin); and the clinical indication and relative benefit treatment for the individual. We, of course, advise prescribers to consult the relevant summaries of product characteristics, and appropriate prescribing tools. Heskin and colleagues1Heskin J Pallett SJC Mughal N et al.Caution required with use of ritonavir-boosted PF-07321332 in COVID-19 management.Lancet. 2022; 399: 21-22Google Scholar refer to the University of Liverpool HIV drug interaction checker, and, although this is an invaluable tool, we encourage clinicians to refer to their specific COVID-19 interaction checker, as the advice might differ for short-term ritonavir use. However, the real-life effect of known or predicted DDIs, and recommended practice, might differ from prescribing advice, and sources of advice might be inconsistent. Antiretrovirals are one example of potential DDIs. The current UK patient information leaflet warns that Paxlovid treatment can result in medicines used to treat HIV becoming less effective.4UK Medicines & Healthcare products Regulatory AgencySummary of product characteristics for paxlovid.https: //www.gov.uk/government/publications/regulatory-approval-of-paxlovid/summary-of-product-characteristics-for-paxlovidDate: Feb 9, 2022Date accessed: February 11, 2022Google Scholar However, any resulting DDIs are not considered clinically important, as reflected by the University of Liverpool interaction checker, and the UK prescribing advice does not warn of reduced antiretroviral effectiveness.5UK Medicines & Healthcare products Regulatory AgencyPatient information leaflet for paxlovid.https: //www.gov.uk/government/publications/regulatory-approval-of-paxlovid/patient-information-leaflet-for-paxlovidDate: Feb 9, 2022Date accessed: February 11, 2022Google Scholar Another example is anti-platelet agents. Ritonavir reduces exposure to the active metabolite of clopidogrel, resulting in reduced anti-platelet effectiveness. This DDI might be clinically important in the context of a recent vascular stent but the potential interaction is not included in the information for patients or prescribers.4UK Medicines & Healthcare products Regulatory AgencySummary of product characteristics for paxlovid.https: //www.gov.uk/government/publications/regulatory-approval-of-paxlovid/summary-of-product-characteristics-for-paxlovidDate: Feb 9, 2022Date accessed: February 11, 2022Google Scholar, 5UK Medicines & Healthcare products Regulatory AgencyPatient information leaflet for paxlovid.https: //www.gov.uk/government/publications/regulatory-approval-of-paxlovid/patient-information-leaflet-for-paxlovidDate: Feb 9, 2022Date accessed: February 11, 2022Google Scholar Conversely, the University of Liverpool COVID-19 interaction checker advises not to co-administer Paxlovid and clopidogrel, but provides more nuanced advice based on clinical indication, advising that the period within 6 weeks after stenting is the highest risk and, beyond that, a transient loss in effectiveness might be acceptable versus a change in drug or less effective antiviral. However, we suggest that the association between COVID-19 and thrombotic events might warrant a more cautious approach and switch to an alternative antiplatelet therapy ( such as prasugrel or ticagrelor) or COVID-19 treatment for the first 12 weeks after stent therapy, and potentially longer ( up to 6 months in the presence of an acute coronary syndrome).
Careful review of concomitant medication, led where possible by a pharmacist, and clear guidance for prescribers, is essential to facilitate safe and pragmatic decision making. Rapid access to appropriate specialty advice will assist risk–benefit assessment in complex cases, but optimal COVID-19 treatment, with an alternative to Paxlovid if necessary, should not be delayed due to DDI concerns.
For more on the University of Liverpool drug interaction checker see https: //www.hiv-druginteractions.orgFor more on the COVID-19 interaction checker see https: //www.covid19-druginteractions.org
For more on the University of Liverpool drug interaction checker see https: //www.hiv-druginteractions.org
For more on the COVID-19 interaction checker see https: //www.covid19-druginteractions.org
LW reports consulting fees from ViiV, Gilead, Theratech, Cipla, Mylan, and Merck; speaker fees from ViiV, Gilead, Janssen, Mylan, and Merck; and institutional research grants from ViiV, Gilead, and Merck. FM reports consulting fees from ViiV, Gilead, and Merck; speaker fees from GlaxoSmithKline, ViiV, Gilead, and Merck; and institutional research grants from AbbVie, ViiV, Gilead, and Merck. AP reports consulting fees from GlaxoSmithKline, ViiV, Gilead, Janssen, and Merck; speaker fees from GlaxoSmithKline, ViiV, Gilead, Janssen, and Merck; and institutional research grants from ViiV, Gilead, Janssen, and Merck. MB reports consulting fees from GlaxoSmithKline, ViiV, Gilead, and Merck; speaker fees from GlaxoSmithKline, ViiV, Gilead, and Merck; and institutional research grants from Novovax, Valneva, GlaxoSmithKline, ViiV, Gilead, and Merck. JC declares no competing interests.
Caution required with use of ritonavir-boosted PF-07321332 in COVID-19 managementWe read with interest the news that the UK Government has announced deals to procure the oral antivirals for SARS-CoV-2, molnupiravir ( Lagevrio, Merck [ Branchburg, NJ, USA ]) and ritonavir in combination with PF-07321332 ( Paxlovid, Pfizer [ New York, NY, USA ]).1 Although we welcome further partnership between the government and pharmaceutical industry in the provision of effective agents to manage the COVID-19 pandemic, we urge caution with the widescale use of ritonavir, given its propensity for causing clinically significant drug–drug interactions with commonly prescribed and over-the-counter medications. Full-Text PDF | tech |
Reinventing airline cargo loyalty with LoyaltyPlus Frequent Freighter | Just like so many other sectors, the COVID-19 pandemic has had a massive negative impact on civil aviation. In 2020, less than 50% of passenger seats were offered due to restrictions. The journey to recovery will be a long one. The saving grace for airlines has been the growth of cargo.
The numbers show that in 2021, a significant global restocking drive saw a 13.1% growth in Cargo Tonne Kilometres ( CTKs). Yields were expected to remain elevated due to the slow return of hold capacity from the wide body passenger fleet. This has resulted in the forecast last year that cargo revenues would rise to $ 152 billion, representing one-third of the industry’ s revenues. Putting this in perspective, cargo typically constituted 10% of the airline business before the pandemic.
It should therefore come as no surprise that the familiar concept of airlines rewarding agents or freight forwarders has gathered renewed momentum. What has been missing up to now was driving greater payloads through a niche engagement programme that would add value for both the airline and cargo agents. The recently launched LoyaltyPlus Frequent Freighter programme bridges this gap.
“ We have had discussions with several airlines, cargo operators, and cargo specialist to understand how best to create a platform that truly rewards the cargo agents and freight forwarders. This has empowered us to upgrade our passenger loyalty programme to provide a practical solution for the cargo side of the airline business, ” says Frik van der Westhuizen, Marketing Director at leading independent customer relationship management company LoyaltyPlus.
Frequent Freighter will see the incentivisation and engagement of agents and freight forwarders to carry high-value cargo that will deliver greater revenue margins for the airline. Its intelligent customer segmentation features will drive greater cargo shipments where points collected by cargo agents can be used towards discounts on their next cargo deliveries.
“ This cargo loyalty platform will enable the airline to manage the day-to-day accrual and redemption activities. Frequent Freighter integrates the customer relationship management functionality that allows the airline to communicate with their cargo agents and automatically send e-mails and SMSes when triggered by specified events, ” adds Len Lubbe, CEO of LoyaltyPlus.
The platform comes with added customer engagement functionality. This includes newsletters, campaigns, promotions and surveys. It supports a full suite of reports that provides airlines with all the information to make informed operational decisions. And because Frequent Freighter is cloud-based, it facilitates rapid implementation due to its rules-based and parameter-driven implementation methodology.
LoyaltyPlus also provides a set of commercial models that make it easy for a range of carriers to engage on a ‘ pay-per-use’ principle. The Member Portal provides self-service account access that gives the loyalty programme members the ability to access real-time retro-credits. This frees up agents’ time for more valuable member interactions. Frequent Freighter is fully integrated with the LoyaltyPlus Frequent Flyer solution with discounts available should a carrier choose to implement both.
LoyaltyPlus is excited to take this discussion further with you, please contact us for a full platform demonstration or if you require more information.
Email: info @ loyaltyplus.cloud
Tel: ( +27) 012 640 0100
Website: https: //www.loyaltyplus.cloud/
Connect with us on our Social Media platforms:
LinkedIn – https: //www.linkedin.com/company/loyaltyplus-accolades-pty-ltd/
Facebook – https: //www.facebook.com/LoyaltyPlusSA
Twitter – https: //twitter.com/LoyaltyPlusSA
YouTube – https: //www.youtube.com/watch? v=cWZFnGXwWMo & t=1s | general |
Premarket stocks: The Fed is targeting a soft landing. Getting it wrong means recession | A version of this story first appeared in CNN Business ' Before the Bell newsletter. Not a subscriber? You can sign up
right here
. You can listen to an audio version of the newsletter by clicking the same link.
London ( CNN Business)
Jerome Powell is trying to
hike interest rates
without damaging the economy. Getting it wrong means recession, and he knows it.
The chairman of the Federal Reserve
said Monday that the central bank is prepared
to repeatedly hike interest rates — and by 0.5 percentage points if necessary— in order to get inflation under control.
The remarks on prices are the most aggressive yet from Powell, who has the very difficult job of hiking interest rates without pushing the US economy into recession — something economists call engineering a `` soft landing. ''
`` If we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so, '' Powell said during a speech to economists. `` And if we determine that we need to tighten beyond common measures of neutral and into a more restrictive stance, we will do that as well. ''
The strident tone from the Fed boss set off alarm bells on Wall Street, and stocks dropped during the speech. The central bank hiked rates last week for the first time since 2018, but only by a quarter percentage point.
Read More
The message from Fed officials is that they're prepared to do `` whatever it takes to bring inflation back to target, '' said analysts at UBS. Market pricing suggests there's a two-thirds chance of a half-point rate hike in May.
History suggests the Fed's path ahead is fraught.
There have been 16 monetary policy tightening cycles in the United States, United Kingdom and Europe since the late 1970s. Thirteen of those have ended in recession, according to Neil Shearing at Capital Economics.
There are three reasons why higher rates have been followed by recessions:
The economy is hit by a shock that has nothing to do with interest rates. The coronavirus pandemic, which put a stop to a 36-month Fed tightening cycle, is a good example.
Central banks have been too timid, allowing economies to overheat and bubbles to form. When they pop, you get a recession.
Central banks start hiking rates too late and then have to tighten aggressively to catch up with inflation, triggering a recession.
It's the third risk that appears most relevant now. Recession is far from inevitable, said Shearing, but Powell is `` now trying to achieve something that the historical record suggests is more likely to fail than succeed.
`` History shows that the path to a soft landing is narrow -- and the inflation shock from the war in Ukraine has narrowed it further, '' said Shearing.
Powell has also been consulting the history books — and coming to a different conclusion. Looking only at the United States, he said on Monday that soft landings were successfully engineered in 1965, 1984 and 1994.
`` I believe that the historical record provides some grounds for optimism, '' he said, while noting that `` monetary policy is often said to be a blunt instrument. ''
`` I hasten to add that no one expects that bringing about a soft landing will be straightforward in the current context—very little is straightforward in the current context, '' concluded Powell.
Chinese stocks are on a roller coaster
Shares of major Chinese firms
have swung wildly in 2022
. That may continue, my CNN Business colleague Paul R. La Monica reports.
There's plenty weighing on sentiment: worries about leading Chinese companies possibly getting delisted in the United States, Beijing's crackdowns on big Chinese tech firms, criticism over China's `` no limits '' relationship with Russia and a resurgence of Covid cases in China.
The iShares MSCI China ETF, which has big investments in top Chinese companies such as Tencent, Alibaba, China Construction Bank, Baidu and Nio, is down 16% so far this year.
But the ETF surged 12% last week thanks to strong rallies Wednesday and Friday. So why are investors suddenly a little more optimistic about China? It appears the Chinese government realizes the damage created by tumbling stock prices is not ideal.
A committee chaired by Chinese Vice Premier Liu He said last week that the government should `` actively roll out policies that benefit the markets. ''
`` China's promise to ease the regulatory crackdown and support property and technology stocks could be a game, and a trend, changer, '' Ipek Ozkardeskaya, senior analyst with Swissquote, said in a report, adding that `` it appears that the latest selloff was so strong that it brought the Chinese government to pull out the white flag. ''
More uncertainty: The uptick in Covid cases in China may also push Beijing regulators to shift policy, as they try to minimize some of the supply chain woes that have hurt the Chinese economy.
A change in tone from Beijing would be welcome news for some Western investors. But experts warn that Chinese stocks will remain extremely volatile, noting that some US investors appear to be actively betting against some Chinese companies.
`` With China's State Council trying to talk up Chinese stocks we have seen the shorting community returning and very active, '' Dan Pipitone, CEO and co-founder of brokerage firm TradeZero, said in a report last week.
Optimism fades
Just a few months ago, optimism among American CEOs hit record highs. But stubbornly high inflation, Russia's invasion of Ukraine and a Covid wave in Europe have
dimmed that sunny outlook
.
The Business Roundtable said Monday that its CEO Economic Outlook Survey dipped during the first quarter. CEOs also indicated decreased plans for hiring and investment and lower expectations for sales.
The group, whose members are the chief executives of top US companies, emphasized that, despite the dip, the survey still reflects historically strong hiring plans and growth expectations.
But wait: It's important to note that the timing of the survey, which was conducted between February 22 and March 11, means some business leaders shared their sentiments before the full scale of Russia's invasion of Ukraine was known.
Since the war began on February 24, the economic costs have been widespread. The West has imposed heavy sanctions on Russia, threatening to disrupt the supply of energy, food and other key materials.
And it isn't just Ukraine. The Business Roundtable acknowledged that the continued risk from Covid-19 and rising inflation are also creating a period of uncertainty, especially in the second half of this year.
Up next
Carnival reports before the opening bell. Earnings from Adobe will be released after the close.
Coming tomorrow: Earnings from General Mills and KB Home. Data on US crude oil inventories. | general |
# ITWebSS2022: What is expected of today's CISOs? | Digital transformation, particularly after the COVID-19 pandemic, has seen a growing interdependence between the physical, digital and cyber security spheres. This, coupled with the widening attack surface, calls for a new type of security leader.
Registration is now open for ITWeb Security Summit 2022 in Johannesburg. Themed ‘ Driving the business value of cybersecurity in an era of accelerated change’, this year’ s event will feature experts and thought leaders from across the globe, who will share their knowledge and insights on the most critical issues facing businesses today. It will also feature a range of workshops, training courses, and much more. For more information, and to register, go here.
Today’ s CISOs need to have deep technical knowledge and experience, as well as the ability to pinpoint security priorities from the business’ s perspective. The wide range of new threats affecting hybrid workforces, and increased number of external devices that need to be secured, have driven an evolution of the CISO role.
In particular, while at one time security heads were seen more as security risk managers, CISOs these days are expected to be real business enablers within the organisation.
To discuss what is expected of today’ s CISOs, Albert Yirenchi Danquah, CISO at Stanbic Bank Ghana, will be presenting on “ The evolving role of the CISO and his or her relationship with the board ”, at the ITWeb Security Summit 2022, to be held from 31 May to 2 June at the Sandton Convention Centre.
He will unpack what the role of the CISO should be, as well as the key skills and qualities that they need to possess. Danquah will also delve into the reporting structure – whether the CISO should report to the CIO, or the CEO, and whether the CISO should have a seat on the board.
He will also talk about the knowledge and experience that at least some of the board members should possess in order to better understand the cyber risks the organisation faces. | general |
White House spokeswoman Psaki tests positive for COVID-19 -statement | Psaki said she was tested in preparation for travel with Biden on Wednesday to Belgium and Poland, where the president will meet with U.S. allies over the Russia-Ukraine war. She said she is experiencing mild symptoms.
`` I had two socially-distanced meetings with the President yesterday, and the President is not considered a close contact as defined by CDC guidance. I am sharing the news of my positive test today out of an abundance of transparency, '' Psaki said in a statement.
Psaki last tested positive for the coronavirus on Oct. 31. She said she will work from home and plan to return to the White House `` at the conclusion of a five-day isolation period and a negative test. ''
( Reporting by Alexandra Alper and Doina Chiacu; writing by Rami Ayyub; editing by Susan Heavy; Editing by Aurora Ellis) | business |
Japan eyes more stimulus as record budget clears parliament | The passage of the $ 900 billion budget through parliament paved the way for Prime Minister Fumio Kishida's administration to seek yet another spending package to support households facing rising food and fuel bills.
`` We will flexibly respond to the needs of further measures, while examining changes in the circumstances, '' Kishida told reporters.
The government has proposed providing cash payouts to low income pensioners, while easing the pain of surging fuel prices through subsidies and tax incentives for consumers.
Finance Minister Shunichi Suzuki also said he would respond as appropriate if additional measures were needed, although he said he was not considering compiling an extra stimulus budget now.
`` We need to consider compiling an extra budget as well as tapping emergency budget reserves depending on the situation, '' said Natsuo Yamaguchi, head of Kishida's coalition partner. The annual budget lacked steps to cope with rising prices, he said.
Even before passage of the budget for the 12 months from April 1, Kishida has come under pressure from ruling and opposition lawmakers to compile a fresh stimulus.
`` Targeted spending aimed at cushioning the impact from fuel and food price hikes could be positive for the economy, '' said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute.
`` The question is how to ensure effective spending. ''
Parliament approved the 107.6 trillion yen ( $ 900 billion) package for fiscal 2022 at the fourth-fastest pace for an annual budget in post-war history. Lawmakers voiced few complaints about huge spending to help with the strain on the world's third-biggest economy from the COVID-19 pandemic.
Kishida said last week the government was ready to take further steps to cushion the blow from rising energy costs - a nod to the growing calls for another stimulus package.
Shortly before the budget was passed, his party's secretary-general, Toshimitsu Motegi, signalled the need for new stimulus, saying the party stood ready to take steps to cushion the blow from rising prices.
Opposition party head Yuichiro Tamaki has called for a new stimulus package worth 20 trillion yen on the assumption that Japan is already experiencing stagflation.
Additional spending will likely be financed by the issue of government bonds, Dai-ichi Life's Hoshino said, a move that would strain Japan's already tattered finances.
Economic growth likely ground to a near halt this quarter as coronavirus curbs and supply disruptions threaten to derail recovery, a recent Reuters poll of economists showed.
Japan's huge public debt - twice the size of its $ 5 trillion economy - constrains its ability to boost fiscal spending to support the economy.
( $ 1 = 119.6000 yen)
( Reporting by Tetsushi Kajimoto; Editing by Kenneth Maxwell, Robert Birsel)
By Tetsushi Kajimoto | business |
Shanghai rebar, HRC futures steady after steel hub Tangshan enters lockdown | Construction material steel rebar and hot-rolled coils ( HRC), used in the manufacturing sector, were trading within thin range on Wednesday amid supply concerns after top steelmaking city Tangshan implemented a temporary lockdown.
The Tangshan government implemented a temporary lockdown on Tuesday to avoid further cases of COVID-19 as infections surged, the local government said in a statement.
`` Although consumption for steel products are relatively sluggish, but production is also falling, '' analysts with Huatai Futures wrote in a note.
The situation of tight raw materials inventories has not been reversed yet, which could further sustain steel prices, it added.
Most-traded steel rebar on the Shanghai Futures Exchange, for May delivery, was steady from night session and stood at 4,931 yuan ( $ 774.24) a tonne, as of 0246 GMT.
Hot-rolled coils, used in cars and home appliances, dipped 0.4% to 5,149 yuan per tonne.
Stainless steel prices on the Shanghai bourse jumped more than 3% to 20,465 yuan a tonne, after raw material nickel showed signs of normalising.
Steelmaking ingredients on the Dalian Commodity Exchange extended losses after falling more than 3% during night session, with benchmark iron ore down 0.7% at 813 yuan a tonne.
Spot prices of iron ore with 62% iron content for delivery to China < SH-CCN-IRNOR62 > dropped $ 3 to $ 147 a tonne on Tuesday, data from SteelHome consultancy showed.
`` Due to transportation disruptions, most steel mills face raw material shortages... and there's even possibility for production halt, '' said Huatai Futures, noting that iron ore demand will be dampened.
Dalian coking coal prices declined 1.6% to 2,943 yuan a tonne and coke futures slipped 0.8% to 3,538 yuan per tonne.
( $ 1 = 6.3688 Chinese yuan) ( Reporting by Min Zhang in Beijing and Enrico Dela Cruz in Manila; Editing by Sherry Jacob-Phillips) | business |
Chinese steelmaking hub Tangshan enters lockdown as COVID cases rise | Residents should not leave their houses or buildings except for tests or emergencies pending further announcement, the government said.
Tangshan reported 15 confirmed locally transmitted cases from March 19-22, and 79 asymptomatic cases, while Hebei province, where Tangshan is located, had 331 confirmed cases and 2,454 asymptomatic cases as of March 22, data from the provincial health authority showed.
The city has halted public transportation since March 19 and implemented traffic controls on March 20.
China is maintaining a `` dynamic clearance '' approach which aims to cut COVID transmission as soon as possible using stringent measures such as short and targeted shutdowns and quick testing schemes where cases are found.
Tangshan produced 131.11 million tonnes of crude steel in 2021, accounting for nearly 13% of China's total production, surpassing the world's second-biggest steelmaker India, which made 118 million tonnes of the metal last year.
Prices for steelmaking ingredients fell during the night session on Tuesday after the lockdown notice was issued, with benchmark Dalian iron ore and coke both down around 3%, and coking coal prices fell nearly 4%. Those markets were range-bound on Wednesday.
( Reporting by Min Zhang and Twinnie Siu, Editing by Christian Schmollinger) | business |
Prices of Dalian steelmaking raw materials drop as China COVID cases dent demand | - Prices for steelmaking ingredients on China's Dalian Commodity Exchange dropped on Tuesday as latest control measures due to the recent surge in COVID-19 cases hurt transportation and production levels at mills and also dampened demand.
`` Affected by the pandemic situation, downstream demand has been subdued, while the disrupted transportation has together led to increasing inventory at coking plants, '' analysts with GF Futures wrote in a note.
Coke inventories at 230 coking plants stood at 11.5 million tonnes last week, up 1.1% from a week earlier, data from Mysteel consultancy showed.
As profit margins at steel mills are relatively low, GF Futures added there's possibility for coke producers to cut prices.
The most-active coke futures on the Dalian bourse for May delivery was down 1.6% at 3,567 yuan ( $ 560.67) a tonne, as of 0330 GMT. Coking coal prices dropped 0.9% to 2,988 yuan per tonne.
Benchmark iron ore futures on the Dalian exchange dipped 0.7% to 824 yuan a tonne.
Portside iron ore stocks in China had been falling for four straight weeks to 155.8 million tonnes, as of March 20, according to Mysteel.
However, Haitong analysts warned that policy risks are not eliminated yet as overall iron ore inventory still at high levels.
Steel prices on the Shanghai Futures Exchange were traded within a tight range. Steel rebar, used for construction materials, inched 0.2% higher to 4,936 yuan a tonne.
Hot-rolled coils, used in the manufacturing sector, rose 0.9% to 5,178 yuan per tonne.
Stainless steel prices for April delivery stalled at 20,020 yuan a tonne.
A cabinet meeting chaired by China's Premier Li Keqiang said on Monday the country would maintain stable operation in the capital market and give around 1 trillion yuan in tax rebates to domestic small firms to shore up economy.
( $ 1 = 6.3620 Chinese yuan) ( Reporting by Min Zhang in Beijing and Enrico Dela Cruz in Manila; Editing by Sherry Jacob-Phillips) | business |
Dalian steelmaking raw materials down as China COVID cases dent demand | - Prices for steelmaking ingredients on China's Dalian Commodity Exchange dropped on Tuesday as the latest control measures due to the recent surge in COVID-19 cases hurt transportation and production levels at mills and also dampened demand.
`` Affected by the pandemic situation, downstream demand has been subdued, while the disrupted transportation has together led to increasing inventory at coking plants, '' analysts with GF Futures wrote in a note.
Coke inventories at 230 coking plants stood at 11.5 million tonnes last week, up 1.1% from a week earlier, data from Mysteel consultancy showed.
As profit margins at steel mills are relatively low, GF Futures added there's possibility for coke producers to cut prices.
The most-active coke futures on the Dalian bourse for May delivery were down 3.2% to 3,509 yuan ( $ 551.63) a tonne at close. Coking coal prices dropped 3.1% to 2,922 yuan per tonne.
Benchmark iron ore futures on the Dalian exchange ended down 3.6% to 799 yuan a tonne.
Portside iron ore stocks in China had been falling for four straight weeks to 155.8 million tonnes, as of March 20, according to Mysteel.
However, Haitong analysts warned that policy risks are not eliminated yet as overall iron ore inventory still at high levels.
Steel prices on the Shanghai Futures Exchange were traded within a tight range. Steel rebar, used for construction materials, inched 0.2% lower to 4,918 yuan a tonne.
Hot-rolled coils, used in the manufacturing sector, rose 0.6% to 5,163 yuan per tonne.
Stainless steel prices for April delivery declined 1.1% to 19,810 yuan a tonne.
A cabinet meeting chaired by China's Premier Li Keqiang said on Monday the country would maintain stable operation in the capital market and give around 1 trillion yuan in tax rebates to domestic small firms to shore up economy.
( $ 1 = 6.3612 Chinese yuan) ( Reporting by Min Zhang in Beijing and Enrico Dela Cruz in Manila; Editing by Sherry Jacob-Phillips) | business |
Just Eat Takeaway.com agrees delivery partnership with McDonald's | - Just Eat Takeaway.com, Europe's largest online restaurant food ordering service, said on Tuesday it has entered a `` long-term global strategic partnership '' with McDonald's Corp. to expand delivery.
Financial details were not disclosed. The partnership will '' support growth of the McDelivery business and will lead to increased operational benefits for Just Eat Takeaway.com, '' Takeaway said in a statement.
The companies have had agreements in individual markets, but the new global agreement will reduce complexity and improve operational efficiency, Takeaway said.
McDonald's, the world's largest restaurant company, offers delivery at 33,000 restaurants in 100 countries through a variety of platforms, including Takeaway rival Uber Eats.
Takeaway shares have been in a sharp decline since late 2020, amid fears that COVID pandemic-driven growth would eventually slow, and following Takeaway's 2021 acquisition of Grubhub for $ 7.3 billion. Shares are down 36% in 2022 and closed at 31.16 euros ( $ 34.19) on Monday.
( $ 1 = 0.9113 euros) ( Reporting by Toby Sterling, Editing by Louise Heavens) | business |
MEOG: PNZ partners agree Dorra deal | MEOG this week covers an agreement to develop a shared gas field in the shared Partitioned Neutral Zone ( PNZ).
The governments of Kuwait and Saudi Arabia this week agreed a deal for the belated development of the offshore Dorra gas field.
State-owned Kuwait Petroleum Corp. ( KPC) announced that an agreement had been signed by the country’ s energy minister, Dr. Mohammad Al Fares, and his Saudi counterpart, Prince Abdulaziz bin Salman Al Saud, during a visit by the latter to Kuwait.
According to KPC, subsidiary Kuwait Gulf Oil Co. ( KGOC) and Saudi Aramco affiliate Aramco Gulf Oil Co. ( AGOC) will leverage modern technologies to increase gas production from the asset to 1bn cubic feet ( 28mn cubic metres) per day alongside 84,000 barrels per day ( bpd) of condensate.
Work on the field, which holds 280-310bn cubic metres of gas and around 300mn barrels of oil, has been stalled since 2013. As with the development of the PNZ’ s oil assets – Al-Khafji ( offshore) and Wafra ( onshore) – gas output will be divided evenly between KGOC and AGOC.
Meanwhile, Iraq’ s ambitious plans to increase oil production capacity from 5mn bpd to 8mn bpd by 2027 are under threat amid concerns about the Iraqi National Oil Co. ( INOC), which was reconstituted last year.
The sector has enjoyed a period of recent growth; however, efforts to involve the state firm in major developments were dealt a blow when the parliament voted to overturn the appointment of its president. Oil Minister Ihsan Abdul Jabbar, who has navigated the Ministry of Oil ( MoO) through the coronavirus ( COVID-19) pandemic while convincing most of its IOC partners not to leave, was installed as INOC's president in a move to underpin his position in the sector and maintain continuity into the new parliament.
In mid-2020 the Iraqi Cabinet amended the 2018 INOC legislation following objections by the Federal Supreme Court to the law, which was deemed to be unconstitutional.
©2022 bne IntelliNews, source Magazine | business |
Harry Connick Jr. talks about his new metaverse community 'The Neutral Ground ' and Piano Party course | Hi, what are you looking for?
Harry Connick Jr. chatted with Digital Journal about his new metaverse community The Neutral Ground and Piano Party course.
By
Published
Grammy and Emmy Award-winning artist Harry Connick Jr. chatted with Digital Journal’ s Markos Papadatos about his new metaverse community The Neutral Ground and Piano Party course.
He is set to debut a slate of upcoming projects and experiences on March 29th with his inaugural online course, Piano Party.
He launched a brand new metaverse community The Neutral Ground, where registration is open to everyone at his official website by clicking here. “ It’ s a gathering place where I will be able to share some cool ideas, and new projects that I am working on, ” he said.
The Neutral Ground is a socially immersive experience that will bring everyone into the metaverse and into Connick Jr.’ s world. It is designed as a place to come together to connect, engage and interact around some of his passions, including music, food, and family.
The name comes from the grassy divides ( medians) where Connick Jr. would hang out as a kid in New Orleans, which are called “ neutral grounds. ” “ In New Orleans, a neutral ground is what we call an area between two grassy medians. As a kid, I never thought what it meant but I thought it would be a good name for this platform that I wanted to launch because it not only means something to me personally, but it also, has another meaning, ” he explained.
“ This platform is an immersive experience where people can gather and share ideas and passions, and have fun. They can do so in a safe, immersive way that is kind of new. As we move forward in time, people will become more familiar with this metaverse since they will be able to interact in ways that they haven’ t been able to do so before, ” he added.
Piano Party is a new online piano course that only Harry Connick Jr. can create. As the course instructor and guide, Harry he makes learning the piano fun as he mixes the basics with personal stories about his own musical journey. Participants will walk away with the ability to showcase their musical side and the fundamentals of the piano – and make a host of new friends and fun memories with Harry around the virtual keyboard.
Speaking of Piano Party, it is the first of many projects and experiences to come on The Neutral Ground, which launches Season 1 on March 29. The series brings his love of piano and music to life in a new online course designed for all ages and ability levels. “ Piano Party is this piano course that I put together, which is more about hanging out and having a good time, and making people feel comfortable, ” he said.
“ I want to demystify things from the very beginning and hold their hand through the process, and teach them a little something about music along the way, ” he added.
Regarding his daily motivations, he said, “ I was very lucky to be given a strong desire to play music and to entertain. I never really had to search for motivation, it’ s a very natural thing for me. Most people can relate to having something in their lives that they are passionate about, whether it’ s a hobby or what they do for a living. I feel very fortunate that I have lots of things that I really love to do. ”
“ When I get up in the morning I get to work right away on all of the things that I am passionate about, ” he added.
On being an artist in the digital age, he said, “ Artistry comes first to me and technology comes in second. I think of technology as a great accessory to that. In many ways, it is right along with it since it expedites the process. There are certain things that I am able to do now that I wasn’ t able to do 20 years ago in regard to recording and writing out orchestral scores or transferring information. ”
“ Things have become more expedited that it actually saves a lot of time and allows me to do more creative things, ” he added.
For Connick, Jr., he acknowledged that a difference exists when he records in the studio vs. performing live. “ I love them both, ” he admitted.
“ I love being in the studio and everything that’ s about, and I love playing on stage because you get to play the music that you worked on in the studio and that takes a life of its own. I am just glad that I can do both, ” he added.
As part of his pre-show rituals, he says a “ little prayer with the band. ” “ I do that to express my gratitude for being there, ” he said.
Harry Connick, Jr.’ s career has exemplified excellence across multiple platforms in the entertainment world over the past 30 years. He has received Grammy and Emmy awards as well as Tony nominations for his live and recorded musical performances, achievements in film and television, and his appearances on Broadway as both an actor and composer.
He continues to establish himself as a best-selling musician, singer, composer, and live performer with millions of recordings sold around the world. He has appeared in 20 feature films ( “ Hope Floats, ” “ Dolphin Tale, ” “ Independence Day, ” “ Memphis Belle ”) and his work on television includes roles on “ Will and Grace, ” “ South Pacific, ” “ Living Proof, ” and “ American Idol. ”
“ Serving as a judge on ‘ American Idol’ was really fun, ” he said. “ I am not the judgmental type but that’ s what they hired me to do and I enjoyed it. When I was on the show, there were a lot of talented people and I had a really good time. ”
In 2016, he launched “ Harry, ” a national daytime television show that earned 11 Daytime Emmy nominations, including nominations for “ Best Host, ” and a Critics’ Choice nomination for “ Best Talk Show. ”
On Broadway, Connick received Tony nominations as both a lead actor in “ The Pajama Game ” and as a composer and lyricist for “ Thou Shalt Not. ” He last performed on Broadway in 2019 in a show he wrote and directed: “ Harry Connick, Jr.: A Celebration of Cole Porter. ”
In the summer of 2020, as the country entered a prolonged pandemic lockdown, he retreated alone to his home studio to “ heal himself ” in what he called “ a musical isolation chamber. ”
He wrote songs, played all instruments, sang all voices, recorded it all himself, and emerged with an album of songs of faith and inspiration titled “ Alone With My Faith. ”
On his “ Alone With My Faith ” album, he said, “ I was at home, I was in my studio and I had time to record. I was thinking about my faith and what that meant to me and what it must mean to people all over the world to express their faith in different ways. ”
“ I thought this would be a good opportunity to write and record some songs that mean something to me, and they are helping me get through this unusual and confusing time. The recording of the album itself helped me do that, and I heard that it has helped other people too, which is the ultimate honor, ” he explained.
The album is presently nominated for “ Best Roots Gospel Album ” at the upcoming Grammy Awards, and this marks his 16th career Grammy nomination. “ I don’ t think about those things when I am recording but when it gets recognized, it is a great honor, ” he said.
He shared that his daughter, Georgia Connick, filmed the music video for “ Amazing Grace. ” “ My daughter shot that video, she is a really talented photographer, editor, and videographer. I was lucky to have her, ” he said.
“ Alone With My Faith ” is available on digital service providers by clicking here.
Most recently, he brought the role of Oliver’ Daddy’ Warbucks to life on stage in the NBC live musical event, “ Annie Live! ”
On the title of the current chapter of his life, he responded, “ The Neutral Ground. ”
He listed Dua Lipa and Tina Turner as his dream female duet choices in the music business. “ I think Dua Lipa is great, ” he said.
If he were to have any superpower, he revealed that it would be “ teleportation. ”
On the best advice he was ever given, he disclosed, “ My dad told me a long time ago: ‘ be nice and be on time.’ I have done those things, and so far so good. ”
For Connick Jr., success is the “ realization that you are able to accomplish what you set out to accomplish, whether that is family, career, or faith-based. ” “ Success is knowing that you reached a particular goal, ” he said.
“ I want the fans to know that ‘ Piano Party’ isn’ t really about playing the piano as much as it is about playing music and hanging out. I want to teach everybody about music. It’ s about being together, having some fun, and sharing stories. I hope the fans can tap into their own creativity and play some music on their own, ” he concluded.
For more information on Harry Connick Jr., check out his official website, visit his Facebook page, and follow him on Instagram.
Markos Papadatos is Digital Journal's Editor-at-Large for Music News. Papadatos is a Greek-American journalist and educator that has authored over 17,000 original articles over the past 16 years. He has interviewed some of the biggest names in music, entertainment, lifestyle, magic, and sports. He is a six-time consecutive `` Best of Long Island '' winner, and in the past three years, he was honored as the `` Best Long Island Personality '' in Arts & Entertainment, an honor that has gone to Billy Joel six times.
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