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Mohamed El-Erian's Argument Against Market-Timing | The limits of investment knowledge.
On Jan. 27, I published “ The Stock Market’ s Dominoes Are Falling. ” The article outlined how U.S. equities were displaying the textbook signs of a bear market, by collapsing from the outside. First to suffer were the most-speculative securities, such as special-purpose acquisition companies and emerging firms that lacked earnings. Then fell the high-priced glamor companies, such as Meta Platforms ( FB) ( formerly Facebook) and Tesla ( TSLA). Would the rest of the marketplace follow?
For once, my timing wasn’ t unintentionally contrarian; by early March, the S & P 500 was down an additional 4%. And the dominoes kept on falling. Despite the geopolitical worries and economic disruption caused by the Russia-Ukraine conflict, the stock market has since righted its ship. The index now trades slightly higher than on the day my article appeared.
Such behavior, of course, baffles those who don’ t invest. The stock market not only sometimes celebrates what Main Street views as unhappy news, such as rising unemployment ( which can benefit equities by reducing the possibility that the Federal Reserve will raise interest rates), but it also anticipates future events, which confuses those accustomed to thinking in the present. In 2020, for example, the U.S. stock market bottomed on April 7 -- only one month after the novel coronavirus arrived, and long before the economy felt the worst of its effects.
The current mini-rally, though, has been hard for even investment professionals to explain. It would be one thing if stocks’ decline had occurred because of an expected Russian invasion. But that clearly was not so. The selloff started before Russian-Ukraine relations cratered. Nor was the war a foregone conclusion. In a January 2022 poll, 56% of foreign-policy experts predicted that Russia would attack Ukraine during the next 12 months, with 44% either demurring or unsure. The assault could not have been fully incorporated into stocks’ prices.
In a recent Financial Times column, Mohamed El-Erian, former CEO of Pimco, now president of Queens’ College, Cambridge, addresses this puzzle. El-Erian relates a scene from the film “ Shakespeare in Love, ” wherein a theater owner declares that although his business constantly courts disaster, “ strangely enough it all turns out well. ” When asked why, he responds, “ I don’ t know, it’ s a mystery. ”
Being a researcher rather than an artist, El-Erian promptly attempts to solve the mystery that faces him, by understanding why stocks have regained their footing. One reason, he writes, is the strength of the U.S. economy. It is true that inflation has soared, which doesn’ t help equity prices. On the other hand, U.S. corporate profits rose by 26% in the fourth quarter of 2021, on a year-over-year basis, with consumer demand remaining robust. ( Although corporations quite naturally dislike paying high wages, doing so does increase demand for their products and services.)
Another explanation is that, despite inflation, commodities shortages, and the economic sanctions on Russia, the world’ s financial system isn’ t stressed. El-Erian cites Goldman Sachs’ Financial Conditions Index, which examines global interest rates, credit spreads, exchange rates, and equity valuations to determine whether money is relatively easy or relatively tight. Although up sharply from its summer 2020 levels, when central banks were highly accommodative, that index remains only slightly above its 10-year average. It is not signaling a financial crisis.
His final justification is the familiar refrain that stocks might be bad, but other investments are worse. “ [ Equities ] seem less dirty than the guaranteed negative real return on cash due to high inflation; highly volatile commodities and cryptocurrencies; and bonds that remain vulnerable to further price drops. ” ( He has a point about cryptocurrencies, as bitcoin doubled from July through November before dropping 35%.) After all, people must invest somewhere.
Such analysis is entirely in hindsight. That is an observation, not a complaint. Appreciating why the financial markets acted as they did forestalls rash decisions. Indeed, I would argue that the largest benefit from studying financial history is not to learn which assets have performed best -- that information may quickly be learned -- but instead to develop a tolerance for the marketplace’ s bumps. Better to be reflective than angry, frightened, or confused.
However, El-Erian does follow his diagnosis with a prescription: “ Better than to continue to bet heavily ” that the stock market, like the theater business, will somehow overcome its obstacles, “ it would be wise to make the most of the strength of equities and take some chips off the table. ” Where those monies should go, El-Erian does not specify, aside from recommending private equities to those who can afford them. Presumably, retail investors should hold cash.
This advice, I submit, does not follow from El-Erian’ s previous argument. He acknowledged that although equities continually face daunting obstacles, they usually find a way to advance, thereby confounding the expectations of contemporary observers. El-Erian himself has been one of those observers. Along with the rest of us, he wondered during the early days of the Russia-Ukraine conflict what that would do to global markets. He now possesses that answer.
However, he does not know what will happen next. Therefore, when El-Erian advises today’ s investors to reduce their equity exposure, he can not be sure they will be able to reinvest their proceeds at lower prices. Perhaps stocks have already touched their 2022 lows. If so, those with cash in their pockets may become mired in a “ bear trap, ” by being perpetually underinvested, awaiting a stock-market sale that never arrives.
My conclusion: Some investors do hold too much equity, thanks to the past decade’ s sharp rise in stock prices. Such shareholders would do well to heed El-Erian’ s recommendation to lighten their portfolios. But those trades should be strategic, not tactical. As El-Erian himself suggests, the stock market’ s mysteries only unravel after the fact. Understanding the past helps prevent future investment mistakes, but such knowledge rarely, if ever, bestows investment triumphs.
John Rekenthaler ( john.rekenthaler @ morningstar.com) has been researching the fund industry since 1988. He is now a columnist for Morningstar.com and a member of Morningstar's investment research department. John is quick to point out that while Morningstar typically agrees with the views of the Rekenthaler Report, his views are his own.
John Rekenthaler does not own ( actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’ s editorial policies.
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U.K. Joining Salaries Rise at Fastest Rate Since at Least 1997 | The information you requested is not available at this time, please check back again soon.
Morning commuters cross London Bridge in the City of London, U.K. on Monday, March 14, 2022. U.K. unemployment dropped below its pre-pandemic level for the first time as companies generated more jobs and granted higher wages than expected., Bloomberg
( Bloomberg) -- U.K. companies are raising starting salaries at the fastest pace on record as worsening labor shortages hand workers unprecedented bargaining power.
In a survey published Friday, the Recruitment & Employment Confederation and consultancy KPMG said the average salary awarded to new permanent joiners climbed more in March than at any time since polling began in October 1997.
The surge reflects both huge demand from employers and the impact of soaring prices, with firms now increasing pay rates for all staff to compensate them for the fastest inflation in three decades.
A scarcity of candidates meant companies across the country struggled to fill a rising number of vacancies in sectors from computing to hospitality. Reasons cited include low unemployment, fewer European Union workers and uncertainty created by the war in Ukraine, which has made many employees hesitant about switching jobs.
Demand for temporary staff was boosted by absences caused by record Covid-19 infection levels.
“ There is no end in sight to the deep-seated workforce challenges facing the U.K. economy, ” said Claire Warnes, head of education, skills and productivity at KPMG UK. “ Many employers will continue to struggle to hire the talent and access the skills they need. ”
The hot U.K. labor market helps to explain why the Bank of England has raised interest rates three times since December and is forecast to deliver further hikes this year. Officials are concerned about the possibility of an inflationary spiral, where demands for higher pay lead firms to keep raising prices to protect their profit margins.
For workers, the opportunity to command a big wage bump would ordinarily be unalloyed good news. But with energy prices soaring and inflation forecast to be close to double digits by the fall, most will still suffer a sharp fall in living standards this year.
Here are nine things you need to know about Budget 2022.
The federal government is taking sharper aim at real estate investors and property flippers in a bid to help halt the country’ s long-standing – and worsening – housing affordability problem.
The Liberal government is scaling back its strategy to single out Canada's most profitable banks and insurers with targeted tax measures, resulting in about $ 4 billion less in revenue than originally planned. | general |
What to watch today: Wall Street looks steady after two days of Fed-driven selling | U.S. stock futures were relatively steady Thursday, as Wall Street tried to avoid a three-session losing streak. The Nasdaq led the selling over the past two days as the Fed started to strike a more hawkish tone — sinking 2.2% on Wednesday, a day after about a 2.3% drop. ( CNBC)
After a number of Fed officials called for more aggressive tightening to fight inflation, the central bank's minutes from its March meeting indicated general agreement to shrink its massive balance sheet by $ 95 billion per month. The minutes also showed Fed officials were considering larger-than-usual rate hikes of 50 basis points after a 25 basis point raise last month, the first increase in more than three years. ( CNBC)
Bond yields rose Thursday after the government reported fewer-than-expected 166,000 weekly initial jobless claims. The 10-year Treasury yield was trading around three-year highs above 2.6% and was no longer inverted lower than the 2-year yield. However, the 5-year Treasury yield remained inverted, still higher than the 30-year yield. ( CNBC)
Treasury Secretary Janet Yellen said in remarks prepared for a Thursday speech that more government regulation is needed to police the proliferation of cryptocurrency and other digital assets and to ward off fraudulent and illicit transactions. ( AP)
Warren Buffett's Berkshire Hathaway BRK.a) has initiated a major stake in tech hardware stock HP Inc., becoming the largest shareholder in the PC and printer maker. Berkshire purchased nearly 121 million shares of HP, roughly 11%, according to securities filings, a stake that was worth roughly $ 4.2 billion based HP's closing stock price Wednesday. That's before a 15% jump in HP shares in Thursday's premarket. ( CNBC)
Shell said Thursday it will write off between $ 4 billion and $ 5 billion after pulling out of Russia. The announcement offers a first glimpse at the potential financial impact to Western oil giants that exited Russia following Moscow's unprovoked invasion of Ukraine. Further details of the impact of ongoing developments in Ukraine will come in Shell's first-quarter earnings report on May 5. ( CNBC) * EU not expected to fully ban Russian coal imports until August, sources say ( CNBC) * UK targets more nuclear, wind power and fossil fuels in bid for energy security ( CNBC)
Ukraine on Thursday appealed to NATO for more weapons in its fight against Russia to help prevent further atrocities like those reported in Bucha, just outside of Kyiv. Meanwhile, Russian forces, which failed to quickly take Ukraine's capital, are regrouping for an offensive in eastern Ukraine, where Moscow early in its incursion recognized the Luhansk and Donetsk areas as independent states. ( AP)
Tesla ( TSLA) is slated to open its new Texas auto assembly plant in the Austin area Thursday, less than a month after inaugurating a similar factory in Germany. The ribbon-cutting event, dubbed the `` Cyber Rodeo, '' is a homecoming of sorts for Tesla, which moved its headquarters to the Austin area last year from Palo Alto, Calif. ( WSJ) * CNBC video: Ron Baron on Tesla: We expect to make up to five times our money over next decade * 'It's meaningless ' — Ron Baron reacts to Elon Musk joining Twitter's board ( CNBC)
General Motors ( GM) expects sales of its electric Chevrolet Bolt models can rebound from a high-profile recall after several vehicles caught fire to achieve record results in 2022. The automaker restarted production and shipments of the Bolt EV and a larger so-called EUV version this week following a recall-related production shutdown. ( CNBC)
Federal securities regulators are investigating how Amazon ( AMZN) has disclosed some details of its business practices, including how it uses third-party-seller data for its private-label business, The Wall Street Journal reports. * Tencent shuts down rival to Amazon's Twitch after China blocks key gaming merger ( CNBC) * Billionaire founder of JD.com steps down as CEO as Beijing's crackdown continues ( CNBC)
Leading U.S. scientists and physicians worry that the FDA and CDC are moving too fast in approving a fourth round of Covid shots, with little public debate that gives the vaccine makers too big a role in setting the pace with which the doses are distributed across the nation. The top U.S. public health agencies last week endorsed a fourth Covid shot for older adults without holding public meetings. ( CNBC) * Covid spending bill stalls in Senate as Republican, Democrats hit an impasse ( AP)
The Senate on Thursday is expected to confirm Supreme Court nominee Ketanji Brown Jackson, securing her place as the first Black woman on the high court. Giving President Joe Biden a bipartisan endorsement for his historic pick, three Republican senators have said they will support Jackson, who would replace the retiring liberal Justice Stephen Breyer on the conservative-dominated high court. ( AP)
SoFi Technologies ( SOFI) fell 5% in the premarket after cutting its full-year outlook. The cut follows the White House announcing a student loan payment moratorium will be extended.
Conagra ( CAG) tumbled 5.5% in the premarket after issuing a weaker-than-expected forecast for the fiscal year ending in May. The food producer's results are being hit by higher transportation and raw materials costs.
Levi Strauss ( LEVI) beat estimates by 4 cents with an adjusted quarterly profit of 46 cents per share, and the apparel maker's revenue also topped Wall Street forecasts. The company saw strong demand for its jeans, tops and jackets while successfully raising prices and cutting down promotions. Levi Strauss rose 3% in premarket trading.
Rite Aid ( RAD) tumbled 18% in premarket action after Deutsche Bank downgraded the drugstore operator to `` sell '' from `` hold. '' Deutsche Bank said Covid hastened the decline of the retail pharmacy segment, and there's a possibility that Rite Aid may not be able to generate enough earnings to continue as an operating company.
Wayfair ( W) slid 4.1% in the premarket after Wells Fargo downgraded the stock to `` underweight '' from `` equal weight. '' Wells Fargo said the high-end furniture retailer will be hurt by waning demand, overly optimistic consensus estimates and other headwinds.
Rent the Runway ( RENT) jumped roughly 4% in the premarket after the fashion rental company announced a price hike for its subscribers.
Provider of automotive retail technology CDK Global ( CDK) agreed to be bought by Brookfield Business Partners for $ 54.87 per share in cash. The price represents a 12% premium over CDK's Wednesday closing price.
Tiger Woods ' 91st competitive round at the Masters will start like all the rest Thursday morning. What happens when Woods puts his driver back into his bag will determine whether his surgically rebuilt right leg is ready for a test unlike any other he's faced in his career. ( AP) | business |
From Hong Kong to Sydney, Home Prices in Asia's Priciest Cities Are Falling | The information you requested is not available at this time, please check back again soon.
Residential buildings and houses stand in the Darling Point area as skyscrapers in the central business district stand in the background in Sydney, Australia, on Saturday, Jan. 12, 2019. Prices in Australia's biggest city have tumbled 10 percent and some economists are tipping a similar fall this year. While the central bank isn't panicking just yet, a 15 percent nationwide drop in prices would cut about A $ 1 trillion ( $ 720 billion) from the housing stock value., Bloomberg
( Bloomberg) -- Some of Asia-Pacific’ s most expensive housing markets are starting to cool after last year’ s breakneck growth.
Home prices have begun falling in Sydney and Hong Kong, while values in Singapore barely rose last quarter, as buyers wary of rising interest rates and economic headwinds choose to sit on the sidelines.
The turnaround couldn’ t be more abrupt, after low borrowing costs and a fear of missing out during the pandemic spurred a global property frenzy that stretched from Toronto to Auckland. Sydney’ s prices soared almost 27% last year, while values in Singapore jumped the most in more than a decade and Hong Kong remained the world’ s least affordable place to buy a home.
Though conditions vary across the region, there are some common denominators behind the slowdown. Concerns over affordability prompted Singapore to impose property curbs, while inflation risks are leading central banks to consider rate hikes that would make it harder for home buyers to pay their mortgages.
Meanwhile, Covid-19 is adding to headwinds in China’ s real estate markets. Hong Kong is contending with an exodus of residents following its botched effort to contain the latest wave, while a lockdown in Shanghai is dashing hopes of a quick recovery from a slump sparked by a crackdown on excessive debt at developers.
“ Ever since the global financial crisis, governments in the region have turned more vigilant on rising asset prices, while the pandemic has also brought into focus widening wealth gaps, ” said Victoria Garrett, Asia-Pacific head of residential at Knight Frank. “ Although the switch from a seller’ s market will unveil more opportunities, buyers will likely turn more selective and price sensitive. ”
For 2022, residential prices across the region are projected to grow at a milder and more sustainable rate of 3% to 5%, Garrett estimates. That’ s lower than last year’ s 9.1% gain.
To be sure, demand may hold up in some markets, partly because a lack of housing stock is unlikely to be alleviated in the next 12 months, Garrett said. And with the rate-hike cycle still in its initial phase, there remains a window of opportunity for buyers to take advantage of still-conducive financing rates, she added.
Buyers elsewhere haven’ t been deterred. In the U.K., home prices climbed at the fastest annual pace since 2004 in March, while values across 20 cities in the U.S. are also surging.
Below is a run-down of the latest housing trends in key cities.
Home prices in Australia’ s most populous city are showing signs of fatigue near record highs as expectations grow that the central bank will begin raising interest rates soon.
Already, affordability is weighing on the upper-end of the market with income growth trailing well behind price gains: between March 2020 and December 2021, wages increased 3.3% compared with a 22.6% lift in dwelling values. The median home value in Sydney is more than 17 times the median salary in the country.
In addition, Australia’ s gross household debt as a share of disposable income is near a heady 200%. All that has made buyers in the nation’ s largest housing market cautious. Home prices in the harbor city eased 0.2% last month on top of losses in February, snapping a winning streak that began in October 2020.
“ A lot of it has to do with interest-rate talk, and Sydney, because it is such an expensive market, is very sensitive to talk about rate rises, ” said Nerida Conisbee, chief economist at real estate firm Ray White. Waning competition at auctions “ reflects the sentiment that has really changed towards the willingness of people to pay well above what the reserve price is. ”
Residential prices in Hong Kong have been trending down since August with no quick recovery in sight. Challenges range from a slumping economy and rising interest rates to the continued departure of locals and expatriates frustrated with political tensions and strict social distancing measures.
The city’ s housing market appeared unstoppable last year, with prices breaking a record in August. Values have since declined 7.3%, according to Centaline Property Agency Ltd. UBS Group AG expects prices will fall this year due to the population outflow and rate hikes. Goldman Sachs Group Inc. is even more pessimistic, predicting a 20% drop by 2025.
“ Home prices will remain under pressure at least in the near term, ” said Rosanna Tang, head of research for Hong Kong and Greater Bay Area at Colliers International. “ In addition to Covid-19, other market uncertainties including geopolitical tension and interest-rate risks are also delaying homebuyers’ decision-making. ”
After a banner year that saw prices climb the most in more than a decade, Singapore’ s housing market is cooling on the back of property curbs and higher taxes. Growth in prices of new private homes slowed to 0.4% last quarter, while sales in March slumped to the lowest in 21 months.
Authorities introduced cooling measures in December to address a lack of affordability along with the risk that households may struggle to pay their mortgages at higher rates. In February, the government announced higher property taxes targeted at wealthy residents, which could prompt some buyers in that segment to sit on the sidelines.
Still, analysts have said that the curbs may just be a short-term fix given there is genuine demand among locals, such as those upgrading to private units from their public apartments as well as millennials seeking to live on their own.
Rising consumer prices may also spur potential buyers to enter the market sooner rather than later and retain purchasing power, said Alan Cheong, executive director of research at Savills Plc. “ Inflation is the opioid that drives demand, ” he said.
Residential prices in Shanghai, one of the most resilient housing markets in China, resumed rising in December following three months of declines, after officials took steps to arrest a slowdown caused by a liquidity crisis at developers. Now the rebound is being threatened by the financial hub’ s sweeping lockdown.
“ We have now seen Covid taking a stronger hold in Shanghai, which may limit the market in the second quarter as a result, ” said Roddy Allan, chief research officer for Asia Pacific at Jones Lang LaSalle.
Still, the city’ s longer-term outlook looks better, thanks to low inventory and interest-rate cuts. An economic slowdown has pushed China into easing mode, in a stark policy divergence with other major economies. The central bank in January cut a key rate for the first time in almost two years, while major banks have lowered mortgage rates and shortened loan approval times.
Home sales in Shanghai will probably stabilize this year, potentially rebounding around the year end, said Yang Hongxu, a director at E-House China Enterprise Holdings Ltd.’ s research institute.
Here are nine things you need to know about Budget 2022.
The federal government is taking sharper aim at real estate investors and property flippers in a bid to help halt the country’ s long-standing – and worsening – housing affordability problem.
The Liberal government is scaling back its strategy to single out Canada's most profitable banks and insurers with targeted tax measures, resulting in about $ 4 billion less in revenue than originally planned. | general |
This $ 49.5 Million Bel Air Compound Is Hidden in Plain Sight | The information you requested is not available at this time, please check back again soon.
( Bloomberg) -- In 1979, the extended stay housing company Oakwood was already a booming business, and co-founder Howard Ruby was traveling constantly. “ It was the Airbnb of its day, ” says Ruby, who’ s since stepped away from the company. “ These were furnished apartments that were rented by the month. ”
In his travels—Oakwood eventually operated in more than 16 countries, he says—Ruby developed a fondness for old world European grandeur. “ I was living in Bel Air, in a rather modern house, ” he explains, but after seeing the best of Italy and France, he wanted something different.
He found it in the form of a Tuscan villa-style mansion in a tiny cul-de-sac flanked by the Bel Air Country Club’ s golf course. “ The location appealed to me, ” Ruby says. “ The idea that it was an island, basically. It’ s like a European castle with a moat around it. The privacy was extraordinary. ”
He spent three years renovating the house, making what he says were 17 separate trips to Europe as well as journeys to Japan and Hong Kong to buy furnishings and interior decoration.
After he married actress Yvette Mimieux in 1986, the two spent 30 years improving the property. When the house next door came on the market about 15 years ago, they bought that and converted it into guest quarters and an art studio in a design inspired by the architecture of Bali.
But when Ruby lost his eyesight seven years ago, the house and its many objets became less appealing. During the Covid-19 pandemic, he took up sculling ( in a double, with his rowing partner behind him and helping to steer) and moved onto a yacht in Marina del Rey. Mimieux moved into the smaller, more manageable house full-time and devoted herself to painting. As a consequence, they put the larger house on the market for $ 45 million last year.
Mimieux died in January at the age of 80, so Ruby has relisted the entire, 1.5-acre property for $ 49.5 million with Linda May of Linda May Properties, Kurt Rappaport of Westside Estates Agency, and Jade Mills of Coldwell Banker. The furniture and decoration isn’ t included in the price, but could be included in the sale. “ That’ s going to be negotiated, ” Ruby says. “ We’ ll figure something out. ”
The main home spans more than 10,600 square feet and includes five bedrooms, plus a staff bedroom, seven full bathrooms, and two half-bathrooms.
Every room in the house, Ruby says, is decorated in a different style, an idea he got from visiting a bed-and-breakfast in Italy. “ The family added to it for three or four hundred years, ” he says. “ It wasn’ t built in one go. Every room in the house was added during a different century. ” That led, he continues, “ to making each room its own set piece. ” One room is entirely from Venice, for instance, while another is inspired by Milan.
Ruby was helped by the celebrity decorator Kalef Alaton, who advised him on what to buy and where to find inspiration. Combining business with pleasure, he says, “ I had meetings in Paris and London and offices there, and many times I’ d go on business and then go to all the antique stores and auctions at night. ”
Ruby also brought Europe to Los Angeles in the form of Italian artisans who painted various rooms in the house. “ The living room is a work of art, ” he says. “ Absolutely gorgeous—and the bedroom is frescoed. ” Even the house’ s lighting scheme, he says, was created by a French lighting designer.
The main floor of the house begins with a large foyer and leads to a formal living room. There’ s also a formal dining room, a breakfast room and kitchen, and a room Ruby calls l’ Orangerie—a vast entertainment space with a vaulted glass ceiling.
A meandering garden path leads to the second home, which was Mimieux’ s haven. That house has three bedrooms and five bathrooms in just under 5,000 square feet. There’ s also a one-bedroom, one-bath cabana nearby. “ Decoration was my wife’ s fantasy, ” he explains. “ We called it Balinese architecture with a touch of Trinidad, but it was all her design. ”
Inspiration came from a month-long trip to Bali. “ We had wonderful times there, ” Ruby says, “ and we were in Java and other parts of Indonesia, so we traveled the world a great deal. ”
The manicured grounds include two pools, a variety of terraces and outdoor entertaining areas, a sunken lawn, fountains, grottos, and trees.
Ruby says that he and Mimieux often hosted parties for several hundred people. Presidents, including Ronald Reagan, made appearances in the house, and Ruby and Mimieux held their wedding there. “ We loved having people, ” he says. “ And there’ s a big commercial kitchen that we decorated some, but it’ s everything a major chef would want. ”
Eventually though, the couple began to slow down, and “ the house was just too big, ” Ruby says. “ We weren’ t entertaining on that scale anymore, and we began to talk about selling it. ”
Now that he’ s living on a boat, he continues, “ I don’ t need the antiques, so someone might just want to buy the house the way it is. ”
Others, he acknowledges, “ might want to modernize it and just use the bones and great location—and add a wing. ”
At this point, Ruby is unsentimental about saying goodbye to the property into which he poured so much time and energy: “ I had all those years to enjoy it. ” | general |
30 Famous Hotels From Movies and TV Shows You Can Visit | Every product on this page was chosen by a Harper's BAZAAR editor. We may earn commission on some of the items you choose to buy.
BRB, booking a room at the White Lotus resort ASAP.
From The White Lotus to Forgetting Sarah Marshall, some hotels from film and television feel more like supporting characters than a set. Our theory as to why? Instead of shooting on a sound stage, moviemakers opted to go to fully functioning businesses. The best part: That means you can vacation at said locations in real life. Are you a fan of Pretty Woman? Then the Beverly Wilshire in Los Angeles is calling your name. Seen every episode of Gossip Girl? Put the Lotte New York Palace Hotel at the top of your bucket list. Go ahead, step into the world of one of your favorite movies or TV shows on your next trip.
This resort on the shores of O'ahu has been featured in a plethora of movies, including Along Came Polly and Soul Surfer. But it's best known for being where Peter Bretter escapes to ( unsuccessfully, we might add) in Forgetting Sarah Marshall.
There is no shortage of incredible locations showcased in Crazy Rich Asians, but the only one you can book a room at is the Marina Bay Sands in Singapore. The film beautifully showcases the hotel’ s futuristic infinity pool — which you could be swimming in soon.
Filmed while the hotel was closed during the COVID-19 pandemic, the production team extensively redecorated the Four Seasons Resort Maui for HBO’ s The White Lotus. Production designer Laura Fox said they wanted the island resort to reflect the personalities of the eccentric characters.
Remember when Hugh Grant attempts to speak to Julia Roberts, but gets mistaken for a journalist from Horse & Hound magazine? Well, if you 'd like to relive the awkward scene, you can stay at the Ritz London, just like Anna Scott ( although we can't promise Hugh Grant will come knocking on your door).
The Crown filmed part of its third season at the Rhinefield House Hotel, a mansion in the New Forest National Park. Multiple members of the cast — including Helena Bonham Carter and Olivia Colman — stayed here during filming.
Instead of just booking any room you can get, the Beverly Wilshire offers something better: A VIP experience in their specialty suites, complete with a tour of some of Rodeo Drive's most famous fashion houses. Get ready for your own `` big, huge '' moment.
A lot of this 1987 film — including the Kellerman Mountain House scenes — were shot at the Mountain Lake Lodge in Pembroke, Virginia. Today, the lodge hosts Dirty Dancing-themed weekends, but don't wait to book your stay — rooms sell out quickly.
Want to live like Serena van der Woodsen for a day? Check into one of her longtime residences on the show: the Lotte New York Palace Hotel. The Madison Avenue business has been the filming location for other iconic shows, like Will & Grace, 30 Rock, and Law & Order.
While seeing Carrie leave New York City stung a bit at first, the beautiful Hôtel Plaza Athénée she stays at in Paris made it a little bit easier ( at least on the eyes). Sometimes visitors ask to stay in Carrie's room ( 609 FYI!), so make sure you check in early.
The Marilyn Monroe and Jack Lemmon film shot its exterior scenes at the Hotel del Coronado on Coronado Island. Due to the movie's highly-regarded status ( it was rated the number one comedy movie by the American Film Institute), the hotel gift shop offers movie memorabilia for guests.
The Plaza Hotel is in many fan-favorite films, from Eloise to Sleepless in Seattle. But no movie is more synonymous with it than Home Alone 2: Lost in New York. Visit the famous hotel to enjoy a Kevin-style vacation, full of movies in bed and extra large sundaes.
You might not want to recreate the entire trip, but you can live like The Hangover group at Caesars Palace for a weekend. Visit the Las Vegas strip, see a show, and try not to get into too much trouble.
Few movies showcase a hotel quite like Ocean’ s Eleven does with the famous Bellagio in Las Vegas. If you visit this iconic location, stick around for one of its fountain shows, which is set to synchronized music and will make you feel like you're in the closing scene of the heist film.
When Colin Farrell and Brendan Gleeson's characters are forced to stay in hiding in Belgium, they hole up in the Relais Bourgondisch Cruyce. The four-star boutique hotel, located between the two canals in Bruges, is somewhere we 'd like to hole up in willingly.
The centerpiece for Sofia Coppola's Lost in Translation is the Park Hyatt Tokyo — it's where Bill Murray and Scarlett Johansson's characters first form their relationship. Make sure you stop by the hotel's famous bar with sweeping views of the Tokyo skyline when you visit.
Although you can't scale it like Tom Cruise, the tallest building in the world — the Burj Khalifa in Dubai — hosts the Armani Hotel Dubai inside it. Just try not to do as much damage if you visit: While filming the nail-biting scene, the film crew broke 35 windows.
Although the fictional Sedgewick Hotel was located in New York City in the film, the real filming site was the famous Millennium Biltmore Hotel in Los Angeles. The destination has set the scene for countless other films, from Splash to Chinatown to Cruel Intentions.
Miami's Fontainebleau has been featured in many movies and television shows, including Goldfinger, The Sopranos, and Scarface. The Bodyguard featured the hotel prominently, and Whitney Houston even sang two of her most iconic songs — ' I Have Nothing ' and ' I Will Always Love You ' — in the hotel's ballroom for the film.
While the interior shots and the infamous hedge maze were filmed on sound stages, the exterior of the Overlook Hotel was shot at the Timberline Lodge in Oregon. Even though the real-life destination offers beautiful views, you might have trouble convincing anyone to join you on this trip.
The Royal Hawaiian Hotel in Waikiki has been filmed at many time — including for Mad Men and Charlie's Angels — and made the movie poster for Punch-Drunk Love. If you visit the hotel you can stand in the same archway where Adam Sandler and Emily Watson kiss in the hit comedy.
The fictional Rayburn House in Netflix's Bloodline is called the Moorings Village & Spa in real life and is located in Islamorada, Florida. You can have your pick of 18 cottages to rent, all of which are connected to the exclusive beach by wooden walkways.
Cornwall's Headland Hotel became prominent after the release of the 1990 movie The Witches, and much of the hotel's history is tied to the film. Members of the cast and crew stayed here during filming, and Jack Nicholson — the star of the movie Angelica Houston’ s boyfriend at the time — would regularly send roses to her room.
If you're a fan of the series Modern Love, you might recognize the Arlo Nomad from the first season. Dev Patel character meets a journalist there during the second episode, and a conversation in the second floor lounge changes both of their lives forever.
The setting for Interview with a Vampire is a real plantation in Louisiana that's been around since 1837. Prospective guests can choose to reside in one of the many cottages located around the property.
Before heading back in time, Owen Wilson's character stays at Le Bristol during his time in Paris. If you want to really live like the protagonist, stay in the panoramic suite — the same lodgings showcased in the film.
If you 've seen even the intro of Twin Peaks, you 'll recognize the towering Snoqualmie Falls. Located right behind the falls is the real-life Salish Lodge and Spa, which is the exterior of the show's Great Northern Hotel. Rent a room so you can stay in the same spot where agent Dale Cooper drank copious amounts of coffee.
While the hotel in the film serves as a holding place for people to find a romantic partner... or else... the real-life Parknasilla Resort doesn't hold its guests to the same romantic standards. The Irish resort offers a much more tranquil environment — with no fear of being turned into an animal at the end!
The Grand Hotel is on Mackinac Island, Michigan, which is primarily traveled to by ferry. Once you're on the island, you 'll feel as if you 've gone back in time to the film: No cars are allowed and everyone travels by foot, bicycle, or horse-drawn carriage.
Chateau Marmont takes center stage for the antihero celebrity in Sofia Coppola's Somewhere, but the real Beverly Hills hotel has been a haven for stars since its creation in 1929. Sofia, who's visited the hotel with her father since she was 11, made the film partially as an ode to the famous location.
While the original hotel used in the film was damaged in the '90s, the same building now houses a new hotel ( Hotel Degli Orafi) with the same famous views. Guests can choose to stay in the designated Room with a View suite to experience the film's romantic vibes. | general |
Philanthropic Partners Make Strategic Investments of $ 2.8 Million in Read On Arizona to Improve Early Childhood Literacy | Grants Come as Third-Grade Reading Proficiency Drops Amid Pandemic
Philanthropic partners make strategic investments in Read On Arizona to improve early childhood literacy ( Graphic: Business Wire)
Philanthropic partners make strategic investments in Read On Arizona to improve early childhood literacy ( Graphic: Business Wire)
PHOENIX -- ( BUSINESS WIRE) -- To help Arizona’ s youngest students recover from the impact of the pandemic and accelerate improvement in third-grade reading, philanthropic partners have come together in a funding collaboration to help sustain and expand the capacity of Read On Arizona, our state’ s early literacy initiative.
The grants come at a critical time. Before the COVID-19 pandemic, Arizona was making steady progress on third-grade reading proficiency, a strong predictor of high school graduation and college attendance. But the pandemic created unprecedented disruptions in education, and Arizona’ s youngest students experienced significant learning disruptions. As a result, only 35 percent of third-grade students passed the state’ s English Language Arts assessment in 2021, an 11-point drop since the onset of the pandemic, and achievement gaps among economically disadvantaged students and other key subgroups grew even wider.
The recent investments from four philanthropic partners—the Burton Family Foundation, Helios Education Foundation, Virginia G. Piper Charitable Trust, and The Steele Foundation—total $ 2.8 million over the next three years and will help Arizona get back on track and sustain Read On Arizona’ s strategic, collaborative approach to improving early literacy for the long term.
“ Ensuring that Arizona’ s students read by third grade is an education priority of Helios and is essential to keeping our students on a path toward high school and college success, ” said Paul J. Luna, President and CEO of Helios Education Foundation. “ We are grateful for the leadership of Read On Arizona and the other funding partners to help ensure that all students in Arizona read at grade level by third grade. ”
“ Aligning public and private early literacy efforts across the populous and diverse state of Arizona is no easy task, ” said Mary Jane Rynd, President and CEO, Virginia G. Piper Charitable Trust. “ Read On Arizona is an exemplar of collective impact in connecting the dots among partners, strategies, data, and policy—thanks to the inclusive and comprehensive approach Terri Clark has led over the past nine years. This strong and new support from philanthropic partners is a true testament to the effectiveness of Read On Arizona. ”
Since its inception in 2013, Read On Arizona has brought together key partners in Arizona’ s early literacy system to drive improvement in language and literacy outcomes for children from birth to age eight, with strategic focus on school readiness and third-grade reading proficiency. Partners in Read On Arizona take a collective impact approach, working together in coordination and alignment, sharing data, and maximizing investments to drive large-scale change.
“ Over many months of collaboration and planning, partners emphasized that ensuring sustainability and building capacity for Read On Arizona were high priorities, ” said Arizona Literacy Director Terri Clark, who leads the Read On Arizona collaboration. “ These investments will enable us to continue our shared work and do even more to accelerate progress toward our goals. In the wake of the pandemic, we need an even more intensive, coordinated focus on early literacy across Arizona, with targeted strategies to help our largest subgroups of struggling readers. ”
“ The Burton Family Foundation is pleased to support the critical work of Read On Arizona, ” said Christy Burton, Co-Founder and Chair of the Burton Family Foundation. “ The network of partners Read On Arizona has built across the state has dramatically enhanced communication and coordination among public and private organizations committed to improving early literacy among Arizona’ s children. This kind of cross-sector collaboration is key to ensuring that every Arizona child has access to the resources they need to build and strengthen their literacy skills. ” | general |
'We hear you ': House Democrats ' campaign arm touts early investment in Black voter outreach | Beginning in Virginia this week, the Democratic Congressional Campaign Committee will roll out radio and print ads that make the pitch to Black voters by emphasizing policy achievements such as the expanded child tax credit for 2021 included in the American Rescue Plan. The areas targeted by the five-figure investment include the Northern Virginia district of Rep. Abigail Spanberger and the Hampton Roads district of Rep. Elaine Luria. Both Democrats are in the DCCC's Frontline program for vulnerable incumbents and also on the National Republican Congressional Committee's target list for 2022.
Black voters have historically criticized politicians of both parties for only showing interest in their communities shortly before an election. `` This is a very loud, intentional, and thoughtful response to the feedback that we need to communicate earlier, and it's just the beginning. We're saying, we hear you, '' Chris Taylor, the DCCC's national press secretary, said in an email.
The DCCC also noted that the effort represents its earliest paid media investment aimed at Black voters in an election cycle. It is part of the committee's Building Our Base Project, an initiative launched last year with an initial investment of $ 30 million aimed at building stronger relationships with communities of color.
One radio spot, shared first with CNN, suggests Democrats were the only party attuned to the stresses faced by African Americans during the global pandemic.
In another radio ad, the narrator characterizes congressional Democrats as fighters for Black communities. `` Democrats in Congress delivered for us with the American Rescue Plan, and now, we're back to work, our businesses are reopening, and our kids have returned to classrooms where they thrive, '' the narrator says. `` And not a single Republican voted for it. ''
While no Republicans supported the nearly $ 2 trillion economic stimulus law enacted in March 2021, other coronavirus relief measures, such as the CARES Act that was enacted under then-President Donald Trump, did enjoy bipartisan support.
Besides radio, the campaign also includes a print ad with the words `` We Did That '' in bold lettering. Legislative actions highlighted in the ad include the enhanced monthly child tax credit, the bipartisan infrastructure package and the George Floyd Justice in Policing Act. As part of the American Rescue Plan, the child tax credit for 2021 was raised to a maximum of up to $ 3,600 per child, up from $ 2,000 previously, and could be received in monthly installments. The enhanced credit expired at the end of December. The police reform bill named after George Floyd passed the House with Democratic support but has stalled in the Senate.
The new DCCC push comes at a time when recent polls suggest President Joe Biden has lost ground with Black voters. For instance, a Pew Ressearch Center survey from March 2021 found Biden with a job approval rating of 87% among Black Americans. That number had fallen to 60% in Pew's January survey. | business |
Base10 Partners leverages Covid automation boom with biggest fund close yet | Base10 Partners has leveraged its success targeting automation startups through the pandemic by raising $ 460m for its biggest fund to date. | business |
Biophytis provides updates on Sarconeos ( BIO101) clinical development | Biophytis / Key word ( s): Miscellaneous Biophytis provides updates on Sarconeos ( BIO101) clinical development 07-Apr-2022 / 08:00 CET/CEST
Biophytis provides updates on Sarconeos ( BIO101) clinical development
Paris ( France), Cambridge ( Massachusetts, United States), April 7th 2022, 8 A.M - Biophytis SA ( NasdaqCM: BPTS, Euronext Growth Paris: ALBPS) ( the `` Company '' or `` Biophytis ''), a clinical-stage biotechnology company specialized in the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, today provides an update on its most advanced clinical studies.
Regarding SARA:
In October 2021, the Company announced that Sarconeos ( BIO101) at the highest dose of 350 mg bid demonstrated an increase of 0.09 meter per second ( m/s) in the FAS population and of 0.10 m/s in the PP population compared to placebo, for the 400MWT in gait speed, after 6 months of treatment. This result is considered meaningful as the Minimal Clinically Important Difference ( MCID) for the 400MWT in sarcopenia is 0.1 m/s.
However, due to restrictions during the pandemic, only 106 patients could perform the 400m walk test at the end-of-treatment visit, which was the primary endpoint of our study which resulted in 55% of loss of efficacy data.
On January 24, 2022, a meeting between the Company and the FDA was held. During which we discussed conducting additional dose-finding and further definition of the proposed population and indication, as well as CMC ( chemistry, manufacturing, and control section) data to be submitted, and the regulatory non-clinical plan.
We are currently assessing FDA comments and recommendations and preparing for the submission of a seamless design phase 2-3 with the objective of having a First Patient In by H2 2022.
We anticipate to have other discussions with FDA in Q3 2022 and with EMA in H1 2022 to get scientific advice, including on the results of the Phase 2b study and potential progression into Phase 2-3.
Stanislas Veillet, CEO of Biophytis, declares: `` In 2021 Sarconeos BIO ( 101) reached a key milestone with the end of SARA phase 2 trial in Sarcopenia. We achieved the study with encouraging results, mostly in the Per Protocol population. Unfortunately it was lacking statistical power due to regulatory restrictions during the pandemic. We are now exchanging with FDA and soon with EMA for the prepation our phase 2-3 study. Assuming authorizations are obtained, we expect to have our FPI by end of H2 2022. ''
Regarding COVA:
The Data Monitoring Committee ( DMC) had recommened in September 2021 the continuation of the COVA study unmodified based on the results of the second Interim Analysis on 155 patients, showing the efficacy of the treatment with Sarconeos ( BIO101) in the promising zone and no futility of the study. The initial target for the study was the recrtment of 310 to 465 patients.
Since April 2020, 237 patients meeting the study criteria have been enrolled in the trial in France, the United States, Belgium and Brazil, in 37 clinical centers. Since the end of 2021, global immunity in Europe, US, and Brazil, as well as vaccination campaigns have strongly progressed. In addition, the number of hospital admissions has also decreased due to the reduced severity of the Omicron variant. As a result, the Company has experienced significant slow-downs in the speed of patient recruitment during the last months.
In this context after consultation of its experts for the study as well as its medical & scientific advisors, the Company has stopped the enrollment at the 237th patient, and is proceeding to close its clinical centers in Q2 2022, in order to report the results of the study in Q3 2022.
Stanislas Veillet, CEO of Biophytis, stated: `` Our clinical trial is inherently dependent on the evolution of the pandemic, which is, after the 5th wave, declining globally in the United States, Europe and Brazil. We are adapting to this situation in giving priority to obtaining the study's results. Stopping the recruitement is an important step that should enable us to announce COVA results during Q3 2022. We are convinced that COVID-19 is becoming endemic and will persist over time. We have yet to demonstrate that Sarconeos ( BIO101) might bring a real therapeutic solution for patients hospitalized with severe respiratory manifestations, with no pharmacological treatment option as of today ''.
As a reminder, the COVA clinical programme ( identifier clinicaltrials.gov: NCT04472728) is an international, multi-centre, double-blind, placebo-controlled, group-sequential and adaptive two-part study. It is a phase 2-3 study evaluating Sarconeos ( BIO101) in patients aged 45 years and older, hospitalised with severe respiratory manifestations of COVID-19. Part 1 of the COVA study is an exploratory Phase 2 proof-of-concept study designed to provide preliminary data on the safety, tolerability and efficacy of Sarconeos ( BIO101) in 50 hospitalised patients with severe respiratory failure in patients suffering from COVID-19. Part 2 of the COVA study is a randomised phase 3 study investigating the safety and efficacy of Sarconeos ( BIO101) on respiratory function in 310 to 465 COVID-19 patients ( including the 50 patients from the first part of the study).
| business |
Swiss Re aims for 2024 return on equity of 14% | `` Despite the COVID-19 pandemic, the underlying L & H Re business continues to perform strongly, '' said Chief Executive Christian Mumenthaler on Swiss Re's Investors ' Day on Thursday.
For P & C Re, the aim is for disciplined growth, with expansion in the natural disaster business, according to Swiss Re.
The company's capital management priorities would remain unchanged, said Swiss Re. These include ensuring superior capitalisation, increasing the ordinary dividend in line with long-term earnings and deploying capital for profitable growth.
( Writing by Miranda Murray; Editing by Paul Carrel) | business |
Updates from the Field: Digital Literacy in India | The Benetech India team is constantly on the move. They lead trainings throughout India to empower the students with digital literacy skills that are vital for education, employment and independent participation in society. Read on for a recap of recent trainings from our Asia/Africa Program Manager, Dr. Homiyar Mobedji.
“ Anantpur, Andhra Pradesh is a sleepy town where the summer temperature goes beyond 46 degrees Celsius ( 114 Fahrenheit), and this is where one of the largest schools for the blind in India is situated. The inclusive school run by the Rural Development Trust, better known as RDT, is home to more than 250 visually impaired boys and girls who mainly hail from rural India. The school is an excellent center of learning for these underprivileged youth who are provided with the best of facilities and education.
After the onset of the COVID-19 pandemic, all visually impaired students from grades six to nine received Lenovo 10-inch tablets and those in grades ten and above received laptops. This introduction of modern technology has completely transformed learning for these students, who in the past had to rely on bulky, fragile, and often limited supplies of Braille books.
Benetech, through its Digital Literacy program and Bookshare service, has been supporting these students by providing them access to more than 800,000 accessible titles on their assistive devices, including their state curriculum textbooks in both English and Telugu mediums and many more reading opportunities.
The team is now focusing on empowering the students to write using their modern tools, so that they work independently, without needing a scribe. This is the first step towards becoming employable.
Other like-minded NGOs who specialize in providing ready-made tactile materials have supported our team, as tactile learning is a great supplement to the digital content from Bookshare.
The team is also putting in efforts to encourage students to take up STEM subjects in their higher grades. Reading and writing math is a recent development in the world of assistive technology and the Benetech team is bringing in knowledge from its international partners to these students in the southeastern corner of India. ”
“ NFB Gyandeep Sparsh Kanya Vidyalaya is a residential school run by the National Federation of the Blind India and serves more than 100 girls. The students mainly come from tribal or economically disadvantaged regions of India.
The Benetech India team partnered with NFB India, to lend their technical expertise in digital reading and writing solutions. The team conducted a two-day introductory workshop at the school, where we emphasized the importance of digital literacy in today’ s world. The girls learned how to use reading applications on their Android devices for reading their educational content in Hindi and English. The training also focused on other important aspects such as the importance of mobility, body language and presentation.
This workshop was the first in a series of programs which shall continue over the next three years. The ultimate goal is to ensure that all the students are able to read and write digitally, which shall ensure that these students enjoy a smooth transition from school to the wider world when they graduate. ”
These are just two examples of the great work our India team is doing every single day to empower blind students in India to pursue education, employment, and live joyful, independent lives.
Learn more about the program, which is supported by the Lavelle Fund for the Blind.
We’ ve been thrilled by Benetech’ s ability to repeatedly reach scale in bridging Silicon Valley tech and social impact, and I’ m proud to have supported them for the past 10 years.
Benetech’ s credibility as a nonprofit focused on empowering social change is unique among the tech community. Their scalable technology solutions are recognized as driving real, sustainable social impact.
Benetech has a long history of successful technology development for social good in California and around the world.
We invested in Benetech Service Net because it enables us to more efficiently and accurately provide information on the community services our vulnerable patients need once they are discharged from our acute settings.
As classrooms rapidly embrace digital learning environments, Benetech Mathshare promises to usher in a new area of digital math that better meets the needs of today’ s learners and tomorrow’ s employers.
I remember thinking that I would never learn how to read, but Bookshare put me in my own world, and I found out that this is how everybody feels when they read.
It’ s my hope that all people with reading disabilities such as dyslexia are able to use Bookshare to succeed in the classroom and become lifelong learners.
I’ m not sure when I started getting Bookshare books, but it’ s been a love affair the whole way.
Sign up for our monthly newsletter to get more inclusive education stories delivered directly to your inbox. | general |
Producers Are From Mars, Consumers From Venus | Opec-plus’ supply response — or rather the lack of it — to the recent crisis is unusual. For all its talk of wanting to avoid politicizing oil, in the past Opec ( and in particular its kingpin, Saudi Arabia) has historically stepped in to make up for any major outage, whatever its cause. To name just a few, Riyadh increased output to compensate for Libya’ s outage during its 2011 revolution, Iraq’ s output collapse after the US-led invasion in March 2003, and Venezuela’ s oil strike just a few months earlier.
True, while a substantial drop in Russian oil supply is widely expected, so far there has been little proof of a hard fall: Russian government data shows crude and condensate production declined by just 65,000 barrels per day in March. But more weighty is the current 320,000 b/d Caspian Pipeline Consortium outage. Previously, by this point in any price crisis cycle, with Brent having touched $ 130 per barrel last month, Opec would typically be loudly signaling that it was prepared to take action to balance the market. Not today. Opec-plus for months now has been dismissing increasingly frantic OECD calls for more oil, most recently at its Apr. 1 ministerial meeting — and consumers have instead moved to release oil from strategic stocks.
There are reasons for this apparent indifference. Until very recently, an Iran nuclear deal was a very real prospect. Covid-19 lockdowns in China are also a concern. But another key factor has been the need to retain Moscow’ s participation in Opec-plus. The extra market share heft Russia brings to producer market management is seen, probably with good reason, as essential to Riyadh’ s energy transition survival strategy.
Opec-plus’ departure from its traditional supply responses, and its prioritization of relations with Russia over demand destruction concerns, is nevertheless striking. And Russia apart, there are two deeper, and not unconnected, issues at play in this retreat from traditional market management.
First there is Washington’ s departure from its traditional role as Gulf security guarantor. The US has been increasingly unwilling to back Gulf states’ security needs, whether it be in Yemen or over Iran. Washington has been found wanting, even as regards the protection of the Gulf energy sector — presumably of importance for Western national security. Atmospherics have not been helped by the increased human rights focus of the administration of US President Joe Biden.
Second is the energy transition. Perhaps there was never going to be a pain-free way for consumers to send the message that the world needs to radically reduce hydrocarbon use to avoid catastrophic climate change. But speaking to producers, the impression is that their arguments that fossil fuels have a role to play — and that climate solutions should not be biased `` toward or against any particular source of energy '' — were swatted away like flies during last autumn’ s Glasgow climate conference. Opec Secretary-General Mohammed Barkindo recently complained his group was unable to even book a room to hold a meeting at Glasgow.
OECD energy watchdog the International Energy Agency ( IEA), historically the main institutional voice for consumer energy policy, has played a critical role in climate debate. Producer criticism of this role has intensified since the publication last year of its Net-Zero by 2050 report, which said no further investment in new oil and gas projects was needed if the world wants to hit that target.
The IEA has consistently argued for developed world financial support to poorer countries to enable a just energy transition. In the absence of such funds, the organization has become a lightning rod for producer grievances over what is increasingly seen as a high-handed approach to climate policy. Relations have deteriorated to the point where Opec last month expelled the IEA from the group of secondary source assessors it uses to measure its output and monitor compliance.
Perhaps, from a producer perspective, current prices help send a message to consumers that hydrocarbons matter and that they have to be part of the discussion. Opec’ s “ policy right now is to use this [ crisis ]... It is the last chance to get people to sit down at the table and engage in a real negotiation about the future, ” argues former Algerian Oil Minister Nordine Ait-Laoussine. “ Opec is doing what it has to do … this is the end-game for fossil fuels. ”
And from where Opec-plus is sitting, it looks like the West wants to have its cake and eat it when it comes to supply. What's more, Washington’ s arms-length approach to the region has inevitably led to a lessening of influence. The fact is Europe and the US are now relatively minor crude customers for the big Gulf producers, and the West, while still a powerful force, no longer holds a monopoly on arms, engineering or technology.
For better or worse, geopolitically, Gulf producers have come of age. The inevitable consequence of a shrinking Western security guarantee is that the region builds its own security architecture. In recent years, Mideast players have been active in conflicts in Yemen, Libya, Ethiopia, sub-Saharan Africa and Afghanistan. The recent Ukraine crisis has also seen Mideast actors — the United Arab Emirates and Turkey — step up as mediators.
This year’ s COP27 climate conference in Egypt will be a key opportunity for a reset of the transition debate. This week’ s report from the UN’ s Intergovernmental Panel on Climate Change ( IPCC) stresses the urgency of immediate action to combat climate change and calls for a major reduction of fossil fuel usage. But the report also emphasizes, perhaps more than in the past, the necessity of prioritizing action on coal and methane emissions reduction; the importance of carbon reduction, including offsets such as tree planting ( a solution favored by Saudi Arabia); and carbon capture and storage ( CCS) and direct air capture.
The inclusion of CCS is arguably a win for Gulf producers, who have actively promoted CCS, which they can deploy relatively cost effectively. Environmentalists have said so, arguing this amounts to a watering down of the report with unicorn technologies. This edition of the IPCC report also sees an evolution in its recognition of the impacts of climate action. “ Many countries, businesses and individuals stand to lose wealth from stranded assets, ” it noted, acknowledging too the risk that asset owners may “ hinder climate policy reform. ” | general |
Lockdowns Show Persistent Risk to China's Demand | China’ s attempt to tame rising Covid-19 cases with harsh lockdowns is hurting oil demand growth in the world’ s largest oil importer at a time when high prices are prompting concerns about demand destruction in oil markets. While China’ s oil demand growth was expected to slow this year after last year's dramatic recovery, Beijing's continued commitment to its zero-Covid strategy could compound the effect and put a ceiling on prices. Covid-19 cases topped 20,000 in China on Tuesday, the highest level since the coronavirus first hit Wuhan in early 2020. Around 193 million people — including 25 million in Shanghai — are currently under full or partial lockdowns in China, accounting for 13.6% of China’ s population and 22% of its GDP, Nomura Securities estimates. Over the Apr. 3-5 Qingming ( Tomb Sweeping) public holiday, air travel fell 87% from a year ago, with only 562,000 passengers, while road journeys fell 53%, according to the official Economic Daily. These levels were also lower compared to the same period in 2020, when China was still battling the harsh first wave of Covid-19 without the help of vaccines. | general |
Chinese steel futures fall on lean demand, lower raw material prices | - China's steel rebar and hot-rolled coils futures dropped on Thursday, as downstream demand remained sluggish amid the fresh wave of COVID-19 cases while weaker iron ore prices also weighed on sentiment.
Steel consumption in March and April, the traditional peak season, has been sluggish this year as the pandemic disrupted industrial activities.
Apparent demand of five main steel products, including rebar, wire rod, hot-rolled coils and others, fell 3% this week from the week earlier, according to Reuters calculation based on production and inventory data released by Mysteel consultancy.
The Caixin/Markit Manufacturing Purchasing Managers ' Index ( PMI) and official data released last week showed manufacturing activities had contracted in March.
A regular state council meeting chaired by Premier Li Keqiang said on Wednesday the government would flexibly use multiple monetary policies in a timely way to support the real economy.
The most-traded steel rebar futures, used as construction material, on the Shanghai Futures Exchange for October delivery fell 1.2% to 5,070 yuan ( $ 797.16) a tonne at close.
Hot-rolled coils, used in cars and home appliances, slipped 1% to 5,228 yuan per tonne. The country's auto industry association expected China's auto sales to plunge 11% in March on an annual basis.
Stainless steel futures on the Shanghai bourse, for May delivery, dipped 0.8% to 20,365 yuan a tonne.
Steel prices were also tracking falling raw material futures prices on the Dalian Commodity Exchange.
Benchmark iron ore futures, for September delivery, declined as much as 3.9% to 892 yuan a tonne, retreating from an over 4% jump in the previous session. The ended down 3% at 900 yuan per tonne.
Spot 62% iron ore for delivery to China was unchanged for the third straight session and stood at $ 159.5 a tonne on Wednesday.
Other steelmaking ingredients were mixed, with Dalian coking coal prices faltering 0.4% to 3,200 yuan a tonne while coke futures edging 0.4% higher to 4,050 yuan per tonne. ( $ 1 = 6.3601 Chinese yuan) ( Reporting by Min Zhang in Beijing and Enrico Dela Cruz in Manila; Editing by Uttaresh.V and Sherry Jacob-Phillips) | business |
Okla. Woman Cops To $ 43.8M COVID-19 Relief Fraud Scheme | An Oklahoma woman has pled guilty to filing for $ 43.8 million worth of bogus COVID-19 relief loans on behalf of more than 100 entities, New York federal prosecutors have announced.Amanda Gloria pled guilty Wednesday to conspiracy to commit bank fraud and money laundering in the Western District of New York, where she is scheduled for sentencing July 20, prosecutors said.Gloria, 45, admitted she conspired to submit at least 153 fraudulent applications to the Paycheck Protection Program seeking a total of $ 43.8 million from May 2020 to June 2021, eventually getting $ 32.5 million in loans approved for various entities, according... | general |
Rishi Sunak’ s Star Fades Just as 10 Downing Street Within Reach | The information you requested is not available at this time, please check back again soon.
Rishi Sunak, U.K. chancellor of the exchequer, departs on his way to present the spring statement to Parliament in London, U.K., on Wednesday, March 23, 2022. Sunak is due to give his spring statement amid pressure from his own MPs to announce new support to help Britons through a growing cost-of-living crisis., Bloomberg
( Bloomberg) -- Just weeks ago, Rishi Sunak was a leading contender to be Britain’ s next prime minister. That prospect is receding rapidly.
His fall has been remarkable, criticized for raising taxes during a spiraling cost-of-living crisis, while appearing out of touch as a millionaire Chancellor of the Exchequer immune to plummeting living standards. Sunak has never been more unpopular with voters, according to pollster YouGov.
With his fortunes already flagging, Sunak was hit this week by the politically seismic revelation that his wife, Akshata Murthy, exploits a tax loophole that means she doesn’ t pay U.K. taxes on her foreign earnings -- potentially saving millions of pounds of payments to the Treasury.
What’ s a ‘ Non-Dom’ and Why Are U.K. Politics Abuzz?: QuickTake
Though there is no suggestion laws were broken, one Conservative Member of Parliament called Murthy’ s tax status a disgrace and another said it would be toxic with voters for the ruling party. Opposition Labour Party leader Keir Starmer said it would be “ breathtaking hypocrisy ” if Murthy had reduced her own liability while Sunak was raising taxes on Britons.
Sunak’ s immediate chance of becoming prime minister “ has pretty much evaporated, ” said Helen Thomas, a former advisor to ex-Chancellor George Osborne and CEO of BlondeMoney, a macroeconomic consultancy. “ He’ ll get another crack at it, but it may not be for years to come. ”
Events are now far removed from the height of Sunak’ s popularity during the pandemic, when the chancellor became a national figure almost overnight by unleashing billions of pounds of emergency spending to prop up the economy.
A slick PR operation, polished performances in Parliament and popular policies -- including an “ Eat Out to Help Out ” program subsidizing restaurant diners after the first coronavirus lockdown was lifted -- quickly propelled him to be the front-runner to succeed British premier Boris Johnson.
But Sunak has struggled to maintain the positive vibe since switching off the U.K.’ s free-spending response to the pandemic.
He told the Conservative Party spring conference he didn’ t want to “ burden future generations with further debt ” and he has repeatedly said that he won’ t be able to protect everyone from the full brunt of the cost-of-living crisis.
It’ s a stance that appeals to Tory fiscal conservatives but also led to a wider backlash to his mini-budget last month, when he increased a levy to fund health care and rejected calls to boost welfare payments.
For the first time in his political career Sunak is under siege, unable to shrug off a perception that he doesn’ t understand the plight of ordinary Britons squeezed by surging fuel and food costs.
His assertion of being a low-tax Conservative in the mold of former Prime Minister Margaret Thatcher also don’ t stack up against his actions: he’ s put the country on track to its highest tax burden since the 1950s.
Putting his personal branding on Treasury decisions, a strategy that worked during the pandemic, now means he’ s linked in the public conscious to inflation and a record squeeze on living standards.
His personal wealth -- and that of his family -- is also not helping. The U.K. has a long tradition of photographing chancellors preparing for key speeches, but in Sunak’ s case they include glimpses into a luxury lifestyle, like a coffee cup in 2020 worth 180 pounds.
Against protestations from Sunak -- and Johnson -- that families of politicians should be kept out of scrutiny, the focus is now on Murthy, the daughter of an Indian billionaire, Infosys Ltd. co-founder Narayana Murthy.
Sunak’ s Wealthy Wife Exploits Tax Break to Cut U.K. Payments
She owns 0.93% of Infosys’ s shares, according to Bloomberg data, valued at almost $ 1 billion at current prices. On Wednesday, the Independent newspaper revealed she holds non-domiciled status in the U.K., a revelation later confirmed by her spokesperson.
The question now is just how bad Sunak will be damaged by the reports. On Thursday, allies in the Tory party predicted his standing wouldn’ t be affected and that his fiscal prudence remains popular. There’ s a view that his wife’ s tax status is not something that should reflect on Sunak.
Two MPs pointed out that Sunak’ s struggles have coincided with a reversal in Johnson’ s own fortunes, and accused the prime minister’ s staff of briefing against a would-be rival. A Downing Street spokesperson denied the accusation.
It is only weeks since Johnson himself was battling for political survival over allegations of rule-breaking parties in Downing Street during the pandemic, which fueled speculation about a leadership challenge. While the police have started issuing fines, Russia’ s invasion of Ukraine has taken much of the sting out of “ partygate. ”
Instead, there’ s growing speculation among Tory MPs that an emboldened Johnson may remove Sunak from his post in a future Cabinet shakeup, with one suggesting Foreign Secretary Liz Truss -- who has expressed her desire to be chancellor in the past -- taking the role.
To be sure, some Tories said Sunak is still well liked and seen as a competent chancellor with a good personal touch with MPs. Also in his favor is the relative dearth of big hitters to one day replace Johnson, giving Sunak time to rebuild his public standing, they said.
British politics is also littered with politicians who have resurrected their careers, not least Johnson, who was widely seen to have lost his shot at Number 10 when his fellow Brexit campaigner Michael Gove derailed his leadership challenge in 2016.
Yet any politician seeking to be prime minister needs a strong base of public support to be a credible contender -- something that has slipped away from Sunak. On Wednesday, a YouGov poll gave him a popularity score of minus 29, with 57% of respondents having an unfavorable opinion of him compared with just 28% who see him in a positive light.
“ He’ s seen as having had a tin ear to the impact of the cost-of-living crisis, and his own personal wealth and his wife’ s wealth then grates even more with people, ” said Bronwen Maddox, director of the Institute for Government think tank. “ It’ s hard for him to come back while the cost-of-living crisis is biting. ”
Canada joins U.S., U.K. in diplomatic boycott of Beijing games
Trudeau weighs auto-content rules as next U.S. trade flashpoint | general |
EXCLUSIVE: Chinese e-hailing firm DiDi pulls plug on SA operations | Chinese-based multinational ride-hailing company DiDi Chuxing will close down its South African operations tomorrow, exactly one year since it launched locally.
Billed as the second biggest ride-hailing firm in the world after Uber, DiDi established its local offices in April last year, starting with a pilot project in Gqeberha, Eastern Cape. Several weeks later, it established a presence in Cape Town, followed by the opening of its Gauteng business.
The Uber and Bolt competitor, backed by Softbank, operates in five continents across the globe. The South African expansion marked the e-hailing firm’ s first presence in Africa and the 17th active country globally.
In an e-mail sent to ITWeb, the company confirmed it’ s in the process of winding down its local operations, with today marking the last day of its mobile app availability in SA.
“ Currently, we are operating in several cities in South Africa. However, due to our strategy adjustments; we regret to inform you that as of 8 April, the DiDi app will no longer be available in all areas of South Africa. The closure of business is part of our strategy adjustment from our managerial levels, though sad news for our loyal users, ” notes the e-mail.
ITWeb this week learnt from DiDi driver partners and two e-hailing industry leaders that the company had left them confused when it sent SMSes and app notifications to all driver partners and vehicle operators in the last week of March, informing them the service will no longer be available in their city.
While this came as a shock to some, many people were not surprised, they say.
The company, which reportedly has over 500 million customers across the globe, couldn’ t have launched at a worst time, setting up office at the height of the pandemic, two months before the third wave hit SA in July.
DiDi also launched when competition in the local market was becoming increasingly intense. While dominated by international players Uber and Bolt, the industry has seen an influx of new start-ups, such as InDriver, NextNow, Taxi Live Africa and Africa Ride, among others entering the market.
Melithemba Mnguni, secretary general of the E-hailing Operators Interim Committee, told ITWeb the dominance of Uber and Bolt in SA is a key contributor to the demise of DiDi locally.
“ DiDi succumbed to the monopoly by Uber and Bolt and, as a result, they failed to penetrate the market. DiDi was charging driver partners 13% commissions, which is only half of what Bolt and Uber are charging their driver partners. However, DiDi's customer prices were slightly higher, as they were based on vehicle running costs.
“ On the other hand, Bolt and Uber prices are charged below running costs, but riders are subsidised through continuous discounts that DiDi could not keep up with in the long run. ”
According to Mnguni, DiDi invested over $ 10 million ( R140 million) in setting up its local operations and a significant part of that went towards bearing the expense of running the launch promotions and discounts for drivers and riders.
DiDi launched with three services on the platform: DiDi Go, the low-cost alternative for price-sensitive riders; DiDi Express, the standard service for those seeking a balance between price and comfort; and DiDi XL, for those who need more space, with a capacity of up to seven seats.
DiDi Express is charged at a base fare of R15 and a distance rate of R10 per kilometre. The service competed with Uber’ s normal price, which starts from R7.50/km, and Bolt’ s normal price, which starts from R6.00/km.
In an interview with ITWeb, Vhatuka Mbelengwa, national e-hailing spokesperson for the Private Public Transport Association of South Africa, said he is aware of DiDi closing its operations, noting it as a loss to the local industry.
“ From what we understand, DiDi is permanently leaving the country nationally and I think this is an indication of how unequal the e-hailing market is in South Africa. If a global financially-strong company like DiDi can’ t secure some market share in SA, what does that mean for local e-hailing start-ups who don’ t have the same financial backing? The DiDi drivers were only busy for a moment when the service initially launched, as customers were after promotions, ” Mbelengwa points out.
A DiDi driver who also drives for other local e-hailing services and did not want to be named, told ITWeb he was never as busy on the DiDi app as he was on the other services.
“ When the promotions ended, I would drive around the whole day before I got one notification from DiDi, telling me to go and pick up a customer, ” he says.
During a DiDi media briefing in September, Carina Smith-Allin, DiDi head of public relations and communications for Sub-Saharan Africa, announced the company was preparing to expand beyond its three provinces of operation. But as it later turned out, this was not to be.
A once hopeful DiDi rider told ITWeb she was initially excited when she heard DiDi was piloting its service in her hometown, Gqeberha.
“ My excitement soon faded when it became near impossible to locate a ride/car via the app, which wasn't the case with other ride-hailing services. I completely lost interest when I wasn't able to get a ride from the Gautrain station in January; I ended up returning to Uber, as the service has yet to disappoint me. ”
Over the last few years, ride-hailing services in SA gained popularity, with more customers ditching their private or public modes of transport due to mobility-sharing advantages such as convenience, reduced travel costs, less traffic congestion and lower emissions.
However, the impact of COVID-19 resulted in the global ride-hailing market, along with other digital economy companies, taking a punch. The global market was evaluated by experts to have lost a significant share of customers as a result of job losses, the tough economic climate and some people preferring to return to using their private vehicles to protect themselves from the spread of the virus.
In SA, other concerns that plague the industry include safety issues, the lack of regulation and drivers crying foul over low wages. The past few years have seen e-hailing drivers and operators holding nationwide protests across all provinces, urging government to intervene by regulating the industry.
Many e-hailing drivers have also lost their lives at the hands of criminals and metered taxi operators, who have been opposing the service since Uber made its local debut in August 2013.
DiDi is no stranger to facing winds of opposition. Last year, the Chinese tech giant was forced to halt it plans to launch in the UK and in some parts of Europe, amid regulatory crackdowns on Chinese tech companies.
In December 2021, DiDi announced it had started delisting from the New York Stock Exchange, less than six months after its initial public offering, after Chinese regulators reportedly expressed concern over the company leaking sensitive data. | general |
Is better pedalling really the next big wellspring of untapped watts? | `` A lot of people are now as aero as they can get. It’ s pedalling that everyone is going to be talking about next. '' So prophesied national time trial champion and record breaker-turned-coach Matt Bottrill when I interviewed him late last year. His words stayed with me – so much so that I decided to investigate. Why exactly was everyone so excited about pedalling, and could I get the latest science to work on my own stroke?
Over the years, I’ ve received a few compliments on my souplesse as it was once called. But was my pedalling really noticeably smooth and efficient-looking, or were my clubmates just buttering me up so I would buy the cake at the café?
Bottrill’ s coaching company used to work with the Boardman Performance Centre near Evesham, Worcestershire, using its wind tunnel and also its biomechanics, position and technique services. In 2020, I booked a session with Dr Barney Wainwright, then head of science and tech development at the centre, as well as a research fellow at Leeds Beckett University and the man who first showed Bottrill that better pedalling meant faster cycling. Wainwright developed the Pedalling Effectiveness Score ( PES) with Wattbike ( opens in new tab), which is the British company’ s patented system for putting a number on a rider’ s pedalling technique.
We arrive in Evesham and within minutes there is a Wattbike standing at the end of the biomechanics studio, set up to my own road bike’ s exact dimensions — usually a pedalling analysis would take place along with the optimisation of a rider’ s bike position — and it’ s about to score me.
For my first session on the Wattbike, I pedal for five minutes so that Wainwright can gather data across the pedalling spectrum, from low intensity at low cadence, to high intensity at high cadence. `` Just worry about watts and cadence, '' says Wainwright, `` and just pedal normally. ''
Anyone who’ s ever read a feature about pedalling will have seen the Wattbike Polar View. This is a visual representation of your pedalling in real time. It’ s a force curve that has been described variously as a peanut and a sausage. The more force is produced, the more the curve bulges from the centre point. The sausage is good, the peanut average and two separate broad beans bad – but I am told to ignore all foodstuff comparisons.
`` You got an average PES [ Pedalling Effectiveness Score ] of 79, which is really good. Your profile was very good at some parts, but at others not so good. At 250 watts, it’ s fairly even. Your PES score goes up as you get to a higher power output, and we see that as a bit of a negative. What we really want is between about 65 and 75. ''
What exactly determines the ‘ shape’ of the pedal stroke?
`` It’ s mainly the quads that produce the power, '' Wainwright explains. `` As we come through the pedal stroke, we transition from a quad-dominated force to a calf/hamstrings, gluteus maximus force when you’ re pulling upwards, but mechanically it’ s hard for those muscles to create a large force for the pull-up phase – the hip flexors have only evolved to lift the leg for running and walking. ''
Pedalling in perfect circles might seem logical, but according to Wainwright that is the wrong way to look at it.
`` If the shape was completely round [ a PES of 100 ], it would mean that the pull-up force was the same as the power stroke, and because the pull up can never be very big, that would mean the power stroke is not very big. So when we talk about a perfect circle of force, that might be nice and mechanically efficient, but it’ s not very powerful. We need to engage the quads to drive it, so there should always be a drop [ the waist to the sausage ]. ''
In other words, there’ s no shame in a pinched sausage. My too-round profile at higher power indicates that my quads are not engaging as they should. Also, my left leg is dominant, which comes as a surprise since I am right-legged. For the next session on the Wattbike I’ m going to be doing some drills to practise producing more power from my quads at higher intensities and more to restore 50/50 left-right balance.
`` With these drills, I’ m trying to get you to do things that are not always what you’ re doing on the bike, but to activate the link between your neural system and what’ s happening, challenging the system and helping it be open to learning, '' says Wainwright. `` Traditionally, single-leg drills mean one leg at a time. But part of the challenge when you’ re cycling is to do things left and right together. I’ ve never found single-leg drills to be very effective. So focus on one side, but you’ re still going to be pedalling on both sides. ''
When I listen back on my dictaphone at this point, all I can hear is the roar of the fan and the whirr of the Wattbike’ s drivetrain, but I do remember a eureka moment – when Wainwright shouts: `` That’ s your cue! Push down! ''
We had discovered that by simply focusing on the pushing-down phase at higher intensities, everything followed – my PES shape bulged at the ends more, and became more sausage-like. It was a simple but exciting revelation.
`` It’ s easy to think that it’ s a given; pushing down is what you do anyway and you have to focus on other things, and that’ s true for some people, but it’ s also easy to forget that that’ s still crucial, '' continues Wainwright. `` It can be that you’ re just not pushing down because you get hung up on other things. This is part of skill acquisition – we’ re unravelling bits and putting them back together. ''
Although my second session following the drills gets the same PES of 79, Wainwright isn’ t too damning: `` The PES was fine before, but now it’ s with better distribution across the spectrum of cadences and intensities. Before, when you got to high cadence, it got very round; now you’ re actually getting a good shape. The crucial thing is output – next time you’ re going to know how to get the most power out. ''
So what’ s the verdict – do I have the souplesse I’ d prided myself on? `` A lot of people have much worse technique than you, '' says Wainwright, `` but I think for you it’ s been a subtle but very real change. And also an education. Always with cycling, the more you understand about what you’ re trying to do, the more control you have over it. You can take that away and do whatever you want with it. Next time you’ re going to know how to get the most power out. ''
Although I don’ t have a Wattbike at home, I’ ve taken away the sensation of producing better power at higher intensities, practise it on my regular trainer and apply the cue. As for the left-right balance, I worked out later my left dominance was down to always leading my self-devised breathing patterns with my left leg. Now I’ m consciously divvying it up, which has the added bonus of easing my left-knee niggle.
In the only time trial I did between weather interruptions and Covid cancellations, I rode my fastest time for that particular course since 2005. Obviously, it’ s impossible to say whether that was all down to better pedalling, but understanding and addressing my weaknesses definitely helped me. Perhaps in this case, knowledge literally is power. | general |
Wout van Aert shouldn't race Paris-Roubaix after positive Covid-19 test, doctors claim | Doctors have suggested Wout van Aert shouldn't race Paris-Roubaix on April 17, claiming he needs time to regain full fitness after testing positive for Covid-19 last week.
After returning a positive test last Thursday, Van Aert has spent a week in isolation, as per Belgium's rules. He missed the Tour of Flanders as a result, and Jumbo-Visma haven't confirmed when he will return to racing now he is able to leave his home.
Instead, the team will wait until Van Aert feels fit again, which could put his Paris-Roubaix involvement in jeopardy.
Jumbo-Visma's sporting director Arthur van Dongen told Het Laatste Nieuws ( opens in new tab): `` It's too early to say anything sensible about that [ his return ].
“ The first step in the process is to wait until Wout is no longer ill. We can not say how many days that will take. When he feels fit again, we will do some medical checks. If those are good, the last step will come: then we have to see if it makes sense to let him race in terms of performance. ”
UCI regulations stipulate riders to complete a series of medical and physiological tests in their return to racing from Covid-19. In order to compete in Paris-Roubaix next weekend, Van Aert would therefore have to prove his fitness to both his team and the governing body.
However, doctors have argued he shouldn't start the race at all.
In response to Belgian pundit Michel Wuyts, who claimed Van Aert had a `` 50-50 '' chance of starting Paris-Roubaix, virologist Marc Van Ranst said the Jumbo-Visma shouldn't race the Monument so soon after contracting the virus.
Van Ranst tweeted ( opens in new tab): `` The chance of Roubaix should not be 50-50 but zero. After a Covid-19 infection, the body ( and thus the heart) should not be overloaded too quickly. Wout van Aert will win Paris-Roubaix, but not this year. It's best for professional athletes to take a full recovery and then build up slowly. ''
Belgian Cycling doctor, Tom Tueglinkx, concurs, suggesting a longer rest is preferable. Despite this, he also acknowledges Van Aert only suffered with mild symptoms of the virus, therefore making his situation somewhat different to the guidelines.
Tueglinkx said: `` Our guideline is that after an infection you stay on the sidelines for at least seven, preferably 10, days. That's the general rule, but the final decision lies with the team doctor. One advantage is that Wout only had mild symptoms. '' | general |
In roiling markets, fraud rises. Banks want to understand why | Edited by Bill Coen and D. R. Maurice
Chaos and confusion are a breeding ground for dishonesty, in financial markets as elsewhere. The market volatility sparked by the Covid pandemic and, latterly, by events in Ukraine has raised the alert level for internal fraud within banks and other financial institutions. Managers are now scrambling to reassess their risk controls as sanctions against Russia force firms to dump investments or extricate themselves from business deals.
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“ Their Faces Were Covered ”: Greece’ s Use of Migrants as Police Auxiliaries in Pushbacks | Help us continue to fight human rights abuses. Please give now to support our work
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Annex: Response from Hellenic Police Headquarters
Download the full report in English
Annex: Response from Hellenic Police Headquarters
Greece’ s Use of Migrants as Police Auxiliaries in Pushbacks
Women migrants from Afghanistan hold signs that read “ Stop pushbacks ” during a rally in Athens against Greece’ s pushbacks of migrants and asylum seekers at the border with Turkey. February 6, 2022. © 2022 Dimitris Aspiotis/Pacific Press/LightRocket via Getty Images
Greek authorities, including through proxies they use, are assaulting, robbing, and stripping Afghan asylum and other seekers and migrants, including children, before summarily pushing them back to Turkey via the Evros River. They are employing men who appear to be of Middle Eastern or South Asian origin, to force stripped or barely-clothed migrants onto small boats, take them to the middle of the Evros River, which marks the land border between Greece and Turkey, and force them into the frigid water, making them wade to the riverbank on the Turkish side. These men often wear balaclava masks to conceal their faces and black or commando-like clothing.
This report is based on interviews with 26 Afghans, 23 of whom who were pushed back between September 2021 and February 2022 at Greece’ s land border with Turkey. The 23 men, two women, and one boy described their crossing from Turkey to Greece, detention by Greek authorities or men they believed to be Greek authorities, their time in custody – usually no more than 24 hours – with little to no access to food or drinking water, and pushback to Turkey over the Evros River.
The men and the boy interviewed by Human Rights Watch said Greek authorities beat them at various times: when they were detained; while they were in custody; or as they were being forced into the Evros River. Twenty-two of the 26 people interviewed said that at some point, Greek authorities forced them to strip down to their undershorts or totally naked. All said Greek authorities stole their money, mobile phones, or other belongings.
Greek authorities detained 20 of the people interviewed by Human Rights Watch. None of them was properly registered – none had their fingerprints or photographs taken or a formal interview of any kind – and at no point from the moment of detention to removal were any of them given a chance to lodge asylum claims.
At the land border with Turkey, 16 people reported that the boats taking them back to Turkey were piloted by non-Greek men who spoke Arabic or South Asian languages common among migrants. They all reported that Greek police were close by when the men loaded the migrants onto small boats. These non-Greek men often wore black or commando-like uniforms in addition to balaclavas to to obscure their identities. All but five of the interviewees said the men ferrying the boats forced them to disembark in the middle of the Evros River, where they were then made to wade to the riverbank on the Turkish side, sometimes in chest- to chin-high water under freezing temperatures.
Several of the interviewees said that while they were in the custody of Greek law enforcement, they saw other police wearing uniforms with either a German or Austrian flag patch, but that these police did not interact with them or make efforts to intervene in the situation. Frontex, the European Border and Ciast Guard Agency, has its largest operation in Greece with more than 650 guest officers.
The findings in this report add to growing evidence of abuses collected by nongovernmental groups ( NGOs) and media, involving hundreds of people of various nationalities, including Syrians, intercepted and pushed back from Evros by Greek law enforcement officers since March 2020 – the time of a standoff between Greece and Turkey at the land border. NGOs and the media are also reporting persistent allegations that Greek Coast Guard personnel unlawfully abandon migrants – including those who have reached Greek islands – at sea, on inflatable vessels without motors; tow migrant boats to Turkish waters; or intercept, attack, and disable boats carrying migrants. Human Rights Watch published a report with such findings in July 2020. [ 1 ]
In response to the findings of this report, Major General Dimitrios Mallios, chief of the Aliens & Border Protection Branch in Hellenic Police Headquarters wrote a detailed letter, appended at the end of this report, refuting the findings and allegations of misconduct, and asserting that “ police agencies and their staff will continue to operate in a continuous, professional, lawful and prompt way, taking all necessary measures to effectively manage the refugees/migration flows, in a manner that safeguards on the one hand the rights of the aliens and on the other hand the protection of citizens especially in the first line border regions. ”
Greece’ s government should immediately halt all pushbacks from its territory, ensure fair treatment to people seeking safety in Greece and provide access to asylum procedures for all who request it. Greek judicial authorities, particularly the Supreme Court Prosecutor, should conduct a transparent, thorough, and impartial investigation into allegations that Greek law enforcement personnel are involved in acts that put the lives and safety of migrants and asylum seekers at risk. Any officer engaged in illegal acts, as well as their commanding officers, should be subject to disciplinary sanctions and, if applicable, criminal prosecution.
Greek lawmakers should urgently establish an inquiry into all allegations of collective expulsions and violence at the borders, and determine whether any government officials have given orders leading to acts that not only violate the law but put the lives and safety of displaced people at risk.
The European Commission, which provides financial support to the Greek government for migration control, including in the Evros region and the Aegean Sea, should urge Greece immediately to end all summary returns of migrants and asylum seekers to Turkey, press the authorities to establish an independent border monitoring mechanism that would investigate allegations of violence at borders, and ensure that none of its funding contributes to violations of fundamental rights and European Union ( EU) laws, including by withholding such funding until abuses cease. The European Commission should also open legal proceedings against Greece for violating EU laws prohibiting collective expulsions.
Frontex should monitor and publicly report on Greek security force compliance with European and international human rights and refugee law, as well as compliance by its own officers and those contributed by member states. Frontex should also inform the Management Board and the Greek authorities of its intention to trigger article 46 of its regulation, under which the agency has a duty to suspend or terminate operations in case of serious abuses, if no concrete improvements are made by Greece to end these abuses within three months. It has triggered article 46 only once, in Hungary in early 2021, after a European court ruling. The European Parliament should continue scrutinizing Frontex on its failures to monitor and intervene to prevent collective expulsions and other abuses in the area of its operation on the Greece-Turkey border.
This report is based on interviews with 26 Afghans ( 23 men, two women, and one boy) who described 30 pushback incidents between September 2021 and February 2022. Three of the men interviewed also described four more pushbacks from March or April 2020, May or June 2021, and July 2021. Both women interviewed described pushbacks in May 2021. These are not necessarily all unique pushbacks as we are unable to identify which subjects may have been subjected to the same expulsion as others who were interviewed. Although we can not estimate total numbers of people pushed back in these incidents, they were all collective expulsions, sometimes involving large groups who had been gathered in Greek detention sites, sometimes informal, from smaller groups that had been detained crossing into Greece.
These 26 interviews were conducted by telephone between November 2021 and March 2022. All but one of the interviews were conducted in Dari with the use of a translator, and one interview was conducted in English with the translator standing by.
Interviews were conducted in private settings – either completely alone or with the interviewee’ s immediate family members present – with assurances of confidentiality. The researchers informed all interviewees about the purpose and voluntary nature of the interviews, and the ways in which Human Rights Watch would use the information. All were told they could decline to answer questions or could end the interview at any time. The researchers told interview subjects they would receive no payment, service, or other personal benefit for the interviews. To protect confidentiality, pseudonyms are used for all Afghan interviewees.
Human Rights Watch also spoke with two local nongovernmental organizations based in Turkey and Greece documenting border abuses and reviewed reports, including media articles, on such practices.
On February 7, 2022, Human Rights Watch wrote to the Hellenic Police Headquarters, the Greek Ministry of Migration and Asylum, and the Greek Ministry of Public Order & Citizen Protection presenting authorities with a summary of findings. The Hellenic Police Headquarters responded to Human Rights Watch’ s letter on March 1, 2022, and their response letter is included at the end of this report as an annex.
On March 15, 2022, Human Rights Watch wrote to Frontex, the European Border and Coast Guard Agency, presenting authorities with a summary of findings. At the time of publication, we had yet to receive a response.
Human Rights Watch has been documenting Greek authorities pushing back migrants and asylum seekers via the land and sea borders with Turkey since 2008. [ 2 ] Our reports are corroborated by other reports from nongovernmental groups ( NGOs), media outlets, the Council of Europe, and the UN Refugee Agency ( UNHCR) on Greek abuses of migrants and asylum seekers during pushbacks at the Evros River and on the Aegean Sea. [ 3 ] While the number of recorded land and sea arrivals in Greece from Turkey has been declining since 2018, [ 4 ] there is no official data on the number of pushbacks in 2021 and 2022. [ 5 ]
Pushbacks violate multiple human rights norms, including the prohibition of collective expulsion under the European Convention on Human Rights, the right to due process in the International Covenant on Civil and Political Rights, the right to seek asylum under the EU Charter of Fundamental Rights, and the principle of nonrefoulement under the 1951 Refugee Convention. [ 6 ]
The Greek government routinely denies involvement in pushbacks, labelling such claims as “ fake news ” or “ Turkish propaganda ” and cracking down, including through the threat of criminal sanctions, against those reporting on such incidents. [ 7 ]
On August 20, 2021, while touring recently completed fencing along a 25-mile stretch of the land border with Turkey, Greece’ s then Citizens’ Protection Minister Michalis Chrisochoidis said, “ The Afghan crisis…is creating possibilities for migrant flows. ” [ 8 ] On October 1, 2021, Greek Prime Minister Kyriakos Mitsotakis said Greece “ will not accept uncontrolled migratory flows similar to the ones we saw in 2015. ” [ 9 ]
On February 21, Greek Minister of Migration and Asylum Notis Mitarachi issued a statement saying, “ Greece protects the external borders of the European Union, in total compliance with international law and in full respect of the charter of fundamental rights. Our national independent authorities investigate all claims of alleged breaches, and we proactively call for evidence to be provided. ” [ 10 ]
His statement came in response to a statement earlier that same day from Filippo Grandi, the UN High Commissioner for Refugees, who said, “ We are alarmed by recurrent and consistent reports coming from Greece’ s land and sea borders with Turkey, where UNHCR has recorded almost 540 reported incidents of informal returns by Greece since the beginning of 2020. ” [ 11 ]
In December 2021, the Greek Ombudsman launched an investigation into the case of an EU citizen – employed by the EU border agency Frontex, that is operating in Evros alongside the Greek authorities – alleging that in September 2021, Greek border guards mistook him for an asylum seeker, assaulted him, and then forced him across the Evros border into Turkey alongside dozens of migrants. [ 12 ] According to the New York Times quoting his story, he said that he and many of the migrants he was detained with were beaten and stripped, and that the police seized their phones, money, and documents. [ 13 ] His attempts to tell the police who he was were met with laughter and beatings, he said. [ 14 ] He said he was taken to a remote warehouse where he was kept with at least 100 others, including women and children. [ 15 ] They were then put on dinghies and pushed across the Evros River into Turkish territory. [ 16 ] Greek authorities have said they have tasked the Greek National Transparency Authority, which lacks expertise in the area, to conduct an investigation on the issue despite the Greek Ombudsman being the official National Mechanism for the investigation of arbitrary behavior by law enforcement agencies, including the Police and the Hellenic Coast Guard. [ 17 ]
Another incident involving an EU citizen was reported on February 21 by the Associated Press ( AP). A woman who has French as well as Turkish citizenship and who said she was fleeing Turkey along with her husband to escape prison sentences that were politically motivated, alleges that Greek authorities forced her and the migrants she was traveling with back across the Evros River into Turkey. [ 18 ] She said Greek officials mistreated her and turned her back; she is now in prison in Turkey according to the AP article. [ 19 ] From her cell, according to the article, the woman filed a lawsuit against Greece at the European Court of Human Rights. [ 20 ]
On December 20, 2021, the European Court of Human Rights communicated to Greece 32 cases brought by 47 asylum seekers and migrants who were violently pushed back to Turkey from Evros, the islands of Crete, Kos, Kalymnos, Lesbos, Samos or at sea before they managed to reach an island. [ 21 ]
In June 2021, the Greek government declared Turkey to be a safe third country for asylum seekers from Afghanistan, Bangladesh, Pakistan, Somalia in addition to Syria, which has been on that list since 2016. [ 22 ] People from countries for which Turkey is considered a “ safe third country, ” go through an accelerated admissibility procedure when lodging asylum claims upon entry on Greek territory to determine if they can be returned to Turkey to have the merits of their asylum claims examined there. In June 2021, the government expanded the triggering of admissibility procedures throughout the territory. [ 23 ] But Turkey does not meet the EU criteria for a safe third country to which an asylum seeker can be returned, which include respect for the principle of nonrefoulement. [ 24 ] Since July 2019, Turkey has deported hundreds of Syrians from its cities, exposing those forcibly returned from Greece to the risk of onward refoulement to Syria. [ 25 ] In February 2022, Turkey was reported to have deported at least 150 Syrians to Syria despite having protected status. [ 26 ] In any case, people summarily returned to Turkey through Evros are not returned pursuant to an agreement but rather unofficially without due process and without guarantees that Turkey will examine their claims.
All of the men Human Rights Watch interviewed provided first-hand victim or witness accounts of Greek police or men they believed to be Greek police beating or otherwise abusing them and others who were with them at at least one of three points: ( 1) the time of their detention on Greek territory: ( 2) in custody, usually for periods of no more than a day in facilities near the border; ( 3) and/or in the course of being forcibly returned to Turkey.
Both women interviewed by Human Rights Watch were traveling with their children and husbands. Neither of the two women were beaten at any point or forced to remove their clothes, but Greek police stole their phones and other belongings. At the detention center, one of the women was held with her daughter separate from her husband, and the other woman was held with her family and the other migrants in their group in one room.
Greek authorities began abusing most of the men we interviewed immediately upon detaining them, often starting with taking their mobile phones and other possessions and stripping them of their outer clothes. “ After crossing the river, we walked four hours and then we were caught by police, ” said Karim, a 22-year-old man from Baghlan Province, Afghanistan, who crossed the Evros River in early September 2021. “ At the point they arrested us, they [ searched ] us and took our [ clothes ], belongings, and phones. They set our clothes on fire…I was left only in undershorts. ” [ 27 ]
These first encounters also often involved kicking and hitting, according to victims and witnesses. Naji, a 37-year-old former Afghan Special Forces soldier also from Baghlan, who fled Afghanistan after the Taliban takeover in August 2021, told Human Rights Watch about his arrest after crossing the river into Greece and walking for seven hours through forests and fields:
In some cases, the police acted even more violently, beatings migrants with truncheons and menacing them with guns. “ When I was arrested, I tried to run from the police, ” said Afsar, a 23-year-old man from Kapisa Province, Afghanistan. [ 29 ] The Greek police caught him at a railroad station near the Turkish border in March 2021. “ They hit me with a baton and I fell down. I got up and started running and again they beat me three times. Then a policeman pointed a gun on my head and told me to sit down or otherwise he would fire. ” [ 30 ]
Abusive treatment occurred not only for those who attempted to flee but also for those who presented themselves voluntarily to the authorities. In October 2021, Fathullah, a 29-year-old man from Herat Province, Afghanistan, presented himself to Greek police asking for help after becoming separated from his group. They not only refused his pleas for help, but also beat him and stole the documents he said would have supported his asylum claim:
Twenty people interviewed by Human Rights Watch were held at detention facilities, usually for less than 24 hours or overnight, before being pushed back into the Evros River to Turkey. They described cramped conditions, sometimes insufficient space even to lie down, no blankets or sources of warmth, and little or no food and drinking water. They also described beatings, being stripped of their clothing – in some cases being left totally naked – and other abuses. Waiz, an 18-year-old Afghan from Maidan Wardak Province, who was held at a detention facility for seven hours before being pushed back to Turkey, said of his experience:
Niamat, a 26-year-old man from Paktia Province, who fled Afghanistan in June 2021, was left totally naked during his time in detention:
The accounts of former detainees suggest that the Greek authorities intentionally acted to humiliate the people in their custody. Samad, a 27-year-old man from Panjshir Province, Afghanistan described gratuitously humiliating and degrading treatment during the two days he was detained after crossing into Greece on December 5, 2021:
In March 2020, the New York Times published an extensive report documenting, through a combination of on-the-ground reporting and forensic analysis of satellite imagery, the Greek government’ s use of a secret extrajudicial location – a “ black site ” – where they were detaining migrants incommunicado before expelling them to Turkey without due process. [ 35 ] The Greek government denied the existence of such site. [ 36 ]
In response to this report, Major General Dimitrios Mallios, chief of the Aliens & Border Protection Branch in Hellenic Police Headquarters, sent a letter ( attached in full as an annex to this report) to Human Rights Watch, which said, in part:
None of the youths we interviewed reported any age determination procedures before they were sent back to Turkey. One of them was a child at the time of his interview, and six others who were 18 years old at the time of their interviews described pushbacks that had occurred when they were under 18. Others we interviewed said their groups included children who were detained together with adults in humiliating conditions and then pushed back to Turkey without any effort to determine their age.
Hamid, an 18-year-old from Kapisa Province, Afghanistan, who crossed into Greece on February 11 and was arrested by police with his 15-year-old brother, told Human Rights Watch police ordered them to strip and left them naked during their six hours in a detention center before pushing them back to Turkey. At no point did authorities try to determine if any of those detained were children. He said:
Ebadullah, another 18-year-old from Ghazni Province who fled from Afghanistan in July 2021 and was arrested in Greece in September 2021 with his 12-year-old nephew, said:
Morad, a third 18-year-old from Paktia Province, who fled Afghanistan in September 2021, said he was arrested along with 40 others in mid-November 2021 and taken to a detention center where he was held with around 200 people in a six meter room that had a flimsy partition to separate the men and the women:
Rostam, a 14-year-old boy from Kapisa Province, Afghanistan, who said he had made multiple unsuccessful attempts to cross from Turkey to Greece said the Greek authorities never made any effort to determine his age or to treat him as an unaccompanied child. He recounted his experience during one of his failed attempts:
In response to our findings, police Major General Mallios said:
According to the migrants interviewed, Greek authorities did not conduct health screenings or test for the virus that causes Covid-19 before detaining them in overcrowded conditions at heightened risk of infection. Migrants said that the authorities did not provide them with masks or any form of personal protective equipment to lower the spread of the Covid-19 virus. Interviewees said that they were denied access to soap and clean water to practice safe hygiene. “ I asked for masks, soap, but they didn’ t provide us anything, not even water, ” said Waiz. [ 41 ]
Mahmood, a 24-year-old Afghan man traveling with two young women, one of whom became sick after walking for four days in rainy, cold weather conditions, said the young woman, “ was sick, but they did not test her for Covid or anything. She had a fever and was shaking, but they didn’ t even provide [ her ] a blanket. ” [ 42 ] He also said that they were all held together along with two other families from Morocco and Syria.
In response to our findings, police Major General Mallios, said, “ In case a third country national needs medical care, this is immediately provided and they are transferred to the appropriate local healthcare unit. The above-described management process is carried out ensuring full respect of their rights and protection of their life and dignity. ”
At no point from being detained, in custody, or prior to being pushed back at the border were any of the Afghans interviewed by Human Rights Watch given the opportunity to lodge asylum claims, and their attempts to seek protection were ignored. In some cases, as illustrated by the experience of Fathullah, described above, [ 43 ] police destroyed documents asylum seekers were carrying to support their asylum claims.
Karim, a 22-year-old former commander in the Afghan army who fled Afghanistan in August 2021, told Human Rights Watch that he first presented himself at an official border crossing point between Greece and Turkey. He said that he told the Greek border authorities, “ ‘ We are asylum seekers,’ but they didn’ t hear us. They just kept saying, ‘ Go back.’ ” [ 44 ] When he persisted, he said that the Greek authorities became threatening, “ They pointed their guns at us, just telling us to go back. ” [ 45 ] He subsequently crossed into Greece irregularly and was violently pushed back.
Amena, a 36-year-old woman from Maidan Wardak Province who crossed into Greece with her husband and two daughters in May 2021, said, “ When we were arrested, we told those two police, ‘ We are refugees and we want you to take us to refugee office,’ and they told us okay, but they lied to us and brought us to this detention center. ” [ 46 ] Once in the detention center, she said, “ the police did not allow us to talk to them. ” [ 47 ]
Police Major General Mallios said that “ in the case of people asking for international protection, the relevant request is immediately recorded upon their arrest and entered into the relevant electronic application. ”
Direct abuses by Greek authorities continued not only from the point of detention and in custody, but also in the course of being pushed back to Turkey. Mahmood, a 24-year-old man from Maidan Wardak Province spoke about the direct abuses Greek authorities committed against him when he was pushed back in October 2021. Their commanding officers were present as these abuses were being perpetrated:
Human Rights Watch heard consistent accounts about Arab and/or South Asian men, often dressed in paramilitary-looking uniforms and wearing full balaclava face coverings, who piloted the boats to the middle of the Evros River, which marks the border between Greece and Turkey.
Afsar, a 23-year-old man from Kapisa Province, Afghanistan said that the non-Greek men working with the Greek police who ferried his group into the Evros River also beat the migrants in the process of pushing them back. Afsar was one of the few people we interviewed who was able to have a conversation with one of these men, who told him of the arrangement they have with the Greek authorities to work for them for a period of time in return for travel documents:
Morad, an 18-year-old from Paktia Province, who was arrested in mid-November 2021 and taken to a detention center, also spoke with one of the men who piloted his boat back to the Turkish side of the Evros River; he identified himself as an Afghan, and said he was working for the Greek police:
Zayan, a 28-year-old former commander in the Afghan army who was pushed back from Greece to Turkey in late December, said that he had a lengthy conversation in Pashto with the Pakistani man driving the boat from Greece to Turkey:
Bedar, a 25-year-old man from Paktia Province, Afghanistan, who left the country on August 18 in fear of the Taliban because he was a journalist, said when the Greek authorities brought his group from the detention center to the river, they were made to stand in a line while men he believed were Syrian put them into small boats:
Waiz, an 18-year-old from Maidan Wardak Province described being beaten and refouled by masked, uniformed non-Greek men after the Greek police transported him from the detention center to the river:
In March and July 2020, Human Rights Watch documented how Greek security forces were working in tandem with unidentified armed men at the Greece-Turkey land border to detain, assault, rob, and strip asylum seekers and migrants, and then forced them back to Turkey. [ 54 ] Human Rights Watch documented similar situations in 2018. [ 55 ] These findings are in line with reports and findings of other NGOs who work in coordination with the Border Violence Monitoring Network ( BVMN), which monitors human rights violations at the external borders of the EU. [ 56 ] One such report from the BVMN published in September 2021 stated:
Since 2020, organizations within the BVMN began collecting testimony referencing third-country nationals as carrying out the physical pushbacks from Greece to Turkey via the Evros River. Josoor, an independent organization that monitors human rights violations at the EU external borders and is focused on supporting victims of pushbacks and other refugees in Turkey, has collected testimony of third-country nationals carrying out pushbacks since September 2020. [ 58 ]
One testimony that Josoor collected in April 2021 described an incident at the border immediately before the pushback to Greece:
Several of the interviewees said that while they were in the custody of Greek law enforcement, they saw other police wearing uniforms with either a German or Austrian flag patch, but that these police did not interact with them or make efforts to intervene in the situation. The European Border and Coast Guard Agency, Frontex, deploys border guards from other EU member states along with Greek patrols along Greece’ s land border with Turkey. [ 60 ] Those who identified other European police said that the beatings stopped when the other European police were present, but as soon as they left the scene, the Greek police would continue to abuse them. It seems that while Frontex presence was a temporary deterrent, it did nothing to ensure proper treatment at all times, respect for due process or access to asylum, or to prevent collective expulsion.
Iqbal, a 20-year-old man from Paktia Province, Afghanistan, spoke about an incident that happened on or around January 10, 2022:
Hakem, a 25-year-old man from Balkh Province, Afghanistan, described an incident that took place in May or June 2021 involving non-Greek police. He believed that these police were Austrian based on the insignia he saw on their uniforms that included an Austrian flag. He said that “ seven or eight Greek police and two Austrian police ” woke him and about 17 others up. [ 62 ] Hakem said the Austrian police did not communicate with his group and that they left once a bus from the Greek police came to take them to the detention center. [ 63 ] While the Austrian police were present, Hakem said the Greek police did not beat him or members of his group, but once they left, the beatings began. [ 64 ]
A Human Rights Watch report published in June 2021 found that Frontex’ s oversight mechanisms have failed to safeguard people against serious human rights violations at the EU’ s external borders. [ 65 ] An analysis of the actions of Frontex in the context of its operations, shows a pattern of failure to credibly investigate or take steps to mitigate abuses against migrants at EU external borders, including Greece, even in the face of clear evidence of rights violations.
In only one case – Hungary – has Frontex exercised its duty to halt funding or operations or to cancel a planned operation based on serious and persistent violations of fundamental rights related to its activities. However, this suspension came late after years of warnings and only after an EU court ruling.
In Greece, evidence has come to light since October 2020 that Frontex played an active role in concealing and supporting pushbacks of migrants at the land and maritime borders with Turkey. Frontex went ahead with a rapid border operation ( RABIT) in Evros, in March 2020, although the Greek authorities had openly put abusive measures in place. These included temporarily suspending access to asylum, prosecuting asylum seekers for irregular entry, and violently forcing them back across the border.
A European Parliament investigation that concluded in July 2021 highlighted how Frontex – in particular its executive director, Fabrice Leggeri – failed to take action to address reports of migrant pushbacks from Greece. The report found that Frontex management ignored reports, including video evidence, about human rights violations taking place where Frontex operates, and charged that its executive director deliberately delayed hiring people whose job it would be to monitor rights.
In addition, a year-long European Anti-Fraud Office ( OLAF) investigation into Frontex for involvement in pushback operations in the Aegean Sea and allegedly covering up of illegal acts, including “ leaving of migrants adrift in engineless life rafts… ” concluded in February 2022. [ 66 ] Three members of Frontex’ s senior management deliberately did not classify pushback cases as human rights violations, according to a report by the Spiegel, in March, Members of European Parliament called for these findings to be made public. [ 67 ]
This report was researched and written by Bill Frelick, director of the Refugee and Migrant Rights Division at Human Rights Watch, and Michelle Randhawa, officer in the Refugee and Migrant Rights Division. Specialist reviews were provided by Eva Cossé, researcher in the Europe and Central Asia Division, Michael Bochenek in the Children’ s Rights Division, Julia Bleckner in the Health and Human Rights Division, and Heather Barr in the Women’ s Rights Division.
Aisling Reidy, senior legal advisor, and Tom Porteous, deputy program director, provided legal and program review. Production assistance was provided by Travis Carr, senior publications coordinator.
We would like to thank Mariam Danishjo for her invaluable work as our consultant and interpreter. Without her, this report would not have been possible.
We are grateful to all the Afghan migrants and asylum seekers who willingly shared their experiences with us. Their hope, and ours, is that in sharing their experiences, the world can extend compassion to all people fleeing violence, war, and hardships.
[ 1 ] “ Greece: Investigate Pushbacks, Collective Expulsions, ” Human Rights Watch news release, July 16, 2020, https: //www.hrw.org/news/2020/07/16/greece-investigate-pushbacks-collective-expulsions #.
[ 2 ] “ Greece: Violence Against Asylum Seekers at Border, ” Human Rights Watch news release, March 17, 2020, https: //www.hrw.org/news/2020/03/17/greece-violence-against-asylum-seekers-border; “ Greece: Violent Pushbacks at Turkey Border, ” December 18, 2018, https: //www.hrw.org/news/2018/12/18/greece-violent-pushbacks-turkey-border; “ Greece: Investigate Pushbacks, Collective Expulsions, ” July 16, 2020, https: //www.hrw.org/news/2020/07/16/greece-investigate-pushbacks-collective-expulsions; Stuck in a Revolving Door: Iraqis and Other Asylum Seekers and Migrants at the Greece/Turkey Entrance to the European Union, November 2008, https: //www.hrw.org/report/2008/11/26/stuck-revolving-door/iraqis-and-other-asylum-seekers-and-migrants-greece/turkey.
[ 3 ] See Amnesty International, “ Greece: Violence, Lies, and Pushbacks, ” July 2021, https: //www.amnesty.org/en/wp-content/uploads/2021/07/EUR2543072021ENGLISH.pdf ( accessed March 17, 2022); Border Violence Monitoring Network ( BVMN), “ Violence within State Borders: Greece, ” October 27, 2020, https: //www.borderviolence.eu/internal-violence-greece/ ( accessed March 17, 2022); Nektaria Stamouli, “ Violence at Greek border as migrants head for Europe, ” Politico, February 29, 2020, https: //www.politico.eu/article/syria-migration-turkey/ ( accessed March 17, 2022); “ Greek authorities should investigate allegations of pushbacks and ill-treatment of migrants, ensure an enabling environment for NGOs and improve reception conditions, ” letter from Dunja Mijatović, the Council of Europe Commissioner for Human Rights, Council of Europe, May 12, 2021, https: //www.coe.int/en/web/commissioner/-/greek-authorities-should-investigate-allegations-of-pushbacks-and-ill-treatment-of-migrants-ensure-an-enabling-environment-for-ngos-and-improve-recept ( accessed March 17, 2022); Anthee Carassava, “ UNHCR, EU Slam Greece Over Migrant Pushbacks, Abuse, ” VOA, November 21, 2020, https: //ww w.voanews.com/a/europe unhcr-eu-slam-greece-over-migrant-pushbacks-abuse/6198674.html ( accessed March 17, 2022).
[ 4 ] The UN Refugee Agency ( UNHCR), “ Operational Data Portal, Refugee Situations, Greece, ” last updated March 13, 2022, https: //data2.unhcr.org/en/situations/mediterranean/location/5179 ( accessed March 17, 2022).
[ 5 ] Lauren Markham, “ How Greece Secretly Adopted the World’ s Most Brazen—and Brutal—Way of Keeping Out Refugees, ” Mother Jones, March-April 2022, https: //www.motherjones.com/politics/2022/03/pushback-greece-lesbos-refugees-asylum-seekers-ukraine/ ( accessed March 23, 2022).
[ 6 ] See “ Term: push-back, ” European Center for Constitutional and Human Rights, undated, https: //www.ecchr.eu/en/glossa ry/push-back/ ( accessed March 17, 2022); European Court of Human Rights, “ Factsheet: Collective expulsion of aliens, ” December 2021, https: //www.echr.coe.int/Documents/FS Collective expulsions ENG.pdf ( accessed March 17, 2022); European Court of Human Rights, “ European Convention on Human Rights, as amended by Protocols Nos. 11, 14 and 15, supplemented by Protocols Nos. 1, 4, 6, 7, 12, 13 and 16, ” October 2, 2013, https: //www.echr.coe.int/Documents/ Convention ENG.pdf ( accessed March 17, 2022); BVMN, “ Pushbacks and Police Violence – Legal Framework, ” undated, https: //www.borderviolence.eu/legal-framework/ ( accessed March 17, 2022); International Covenant on Civil and Political Rights ( ICCPR), adopted December 16, 1966, G.A. Res. 2200A ( XXI), 21 U.N. GAOR Supp. ( No. 16) at 52, U.N. Doc. A/6316 ( 1966), 999 U.N.T.S. 171, entered into force March 23, 1976, https: //www.ohchr.org/en/professionalinterest/pages /ccpr.aspx ( accessed March 17, 2022); Charter of Fundamental Rights of the European Union, 2012/C 326/02, October 26, 2012, https: //eur-lex.europa.eu/legal-content/EN/TXT/PDF/? uri=CELEX:12012P/TXT & from=EN ( accessed March 17, 2022); Convention relating to the Status of Refugees, 189 U.N.T.S. 150, entered into force April 22, 1954 and Protocol Relating to the Status of Refugees, 606 U.N.T.S. 267, entered into force October 4, 1967, https: //www.unhcr.org/3b66c2aa10 ( accessed March 17, 2022).
[ 7 ] Patrick Kingsley and Karam Shoumali, “ Taking Hard Line, Greece Turns Back Migrants by Abandoning Them at Sea, ” New York Times, published Aug. 14, 2020, updated Oct. 26, 2021, https: //www.nytimes.com/2020/08/14/world/europe/greece-migrants-abandoning-sea.html ( accessed March 17, 2022); Eva Cossé, “ Greece Activists Face Intimidation, Threats, Attacks, ” commentary, Human Rights Watch dispatch, October 8, 2021, https: //www.hrw.org/news/2021/10/08/greece-activists-face-intimidation-threats-attacks.
[ 8 ] Rob Picheta and Chris Liakos, “ Greece finishes wall on border with Turkey, amid fears of Afghan migrant crisis, ” CNN, August 21, 2021, https: //www.cnn.com/2021/08/21/europe/greece-turkey-border-wall-completed-scli-intl/index.html ( accessed March 17, 2022).
[ 9 ] Karolina Tagaris, “ Greece says will not allow ‘ uncontrolled’ migrant flows from Afghanistan, ” Reuters, October 1, 2021, https: //www.reuters.com/world/europe/greece-says-will-not-allow-uncontrolled-migrant-flows-afghanistan-2021-10-01/ ( accessed March 17, 2022).
[ 10 ] “ Statement by the Minister of Migration and Asylum, Mr. Notis Mitarachi, ” Hellenic Republic, Ministry of Migration and Asylum press release, February 21, 2022, https: //migration.gov.gr/en/deltio-typoy-dilosi-toy-ypoyrgoy-metanasteysis-kai-asyloy-k-noti-mitaraki/ ( accessed March 17, 2022).
[ 11 ] “ News Comment: UNHCR warns of increasing violence and human rights violations at European borders, ” UNHCR news release, February 21, 2022, https: //www.unhcr.org/cy/2022/02/21/news-comment-unhcr-warns-of-increasing-violence-and-human-rights-violations-at-european-borders/ ( accessed March 17, 2022).
[ 12 ] Matina Stevis-Gridneff, “ E.U. Interpreter Says Greece Expelled Him to Turkey in Migrant Roundup, ” New York Times, December 1, 2021, https: //www.nytimes.com/2021/12/01/world/europe/greece-migrants-interpreter-expelled.html ( accessed March 17, 2022).
[ 13 ] Ibid.
[ 14 ] Ibid.
[ 15 ] Ibid.
[ 16 ] Ibid.
[ 17 ] Ibid.
[ 18 ] Renata Brito, “ From Turkish jail, French woman accuses Greece of ‘ pushback,’ ” AP, February 18, 2022, https: //apnews.com/article/middle-east-france-prisons-greece-europe-1c58212ff10310deebae2b769d31e386 ( accessed March 17, 2022).
[ 19 ] Ibid.
[ 20 ] Ibid.
[ 21 ] Panayote Dimitras, “ 32 Eurotrials against Greece for pushbacks started - Deafening silence by the media ” ( “ Ξεκίνησαν 32 Ευρωδίκες Ελλάδας για επαναπροωθήσεις – Εκκωφαντική αποσιώπηση από ΜΜΕ ”), Racist Crimes Watch, December 23, 2021, https: //racistcrimeswatch.wordpress.com/2021/12/23/1-1283/ ( accessed March 17, 2022).
[ 22 ] “ Greek legislation designates Turkey as a safe third country, for the first time. This decision is for asylum seekers from Syria, Afghanistan, Pakistan, Bangladesh and Somalia, ” Hellenic Republic, Ministry of Migration and Asylum press release, June 7, 2021, https: //migration.gov.gr/en/asfali-triti-chora-charaktirizei-gia-proti-fora-i-elliniki-nomothesia-tin-toyrkia-afora-aitoyntes-asylo-apo-syria-afganistan-pakistan-mpagklantes-kai-somalia/ ( accessed March 17, 2022). See also Advocacy Letter: Implementation of the Safe Third Country Concept in Greece, ” Refugees International advocacy letter, March 8, 2022, https: //www.refugeesinternational.org/reports/2022/3/8/implementation-of-the-safe-third-country-concept-in-greece ( accessed March 23, 2022).
[ 23 ] “ Joint Ministerial Decision 42799/2021 ” ( “ Κοινή Υπουργική Απόφαση 42799/2021 ”), Government Gazette 2425 / Β / 7-6-2021, https: //www.e-nomothesia.gr/kat-allodapoi/prosphuges-politiko-asulo/koine-upourgike-apophase-42799-2021.html ( accessed March 23, 2022).
[ 24 ] “ Greece deems Turkey ‘ safe,’ but refugees are not, ” Action for education ARSIS, Danish Refugee Council, et al. press release, ReliefWeb, June 14, 2021, https: //reliefweb.int/report/greece/greece-deems-turkey-safe-refugees-are-not-substantive-examination-asylum-applications ( accessed March 17, 2022); “ EU: Don’ t Send Syrians Back to Turkey, ” Human Rights Watch news release, June 20, 2016, https: //www.hrw.org/news/2016/06/20/eu-dont-send-syrians-back-turkey #.
[ 25 ] “ Turkey: Syrians Being Deported to Danger, ” Human Rights Watch news release, October 24, 2019, https: //www.hrw.org/news/2019/10/24/turkey-syrians-being-deported-danger.
[ 26 ] Harun al-Aswad, “ Turkey accused of sending scores of refugees back to Syria, ” Middle East Eye, February 2, 2022, https: //www.middleeasteye.net/news/turkey-syria-refugees-deported-scores ( accessed March 17, 2022).
[ 27 ] Human Rights Watch telephone interview with Karim, November 15, 2021.
[ 28 ] Human Rights Watch telephone interview with Naji, November 29, 2021.
[ 29 ] Human Rights Watch telephone interview with Afsar, November 24, 2021.
[ 30 ] Ibid.
[ 31 ] Human Rights Watch telephone interview with Fathullah, December 16, 2021.
[ 32 ] Human Rights Watch telephone interview with Waiz, November 30, 2021.
[ 33 ] Human Rights Watch telephone interview with Niamat, November 23, 2021.
[ 34 ] Human Rights Watch telephone interview with Samad, February 17, 2022.
[ 35 ] Matina Stevis-Gridneff, Patrick Kingsley, et al., “ ‘ We Are Like Animals’: Inside Greece’ s Secret Site for Migrants, ” New York Times, published March 10, 2020, updated July 18, 2021, https: //www.nytimes.com/2020/03/10/world/europe/greece-migrants-secret-site.html ( accessed March 17, 2022). For conditions of pushbacks via the Aegean Sea, see Carlotta Gall, “ ‘ They Just Left Us’: Greece Is Accused of Setting Migrants Adrift at Sea, ” New York Times, published July 18, 2021, updated Oct. 26, 2021, https: //www.nytimes.com/2021/07/18/world/europe/greece-migrants.html ( accessed March 17, 2022).
[ 36 ] “ Greece denies report of secret 'black site ' for migrants near Turkish border, ” Reuters, March 11, 2020, https: //www.reuters.com/article/us-syria-security-greece-border-idUSKBN20Y1VF ( accessed March 17, 2022).
[ 37 ] Human Rights Watch telephone interview with Hamid, February 16, 2022.
[ 38 ] Human Rights Watch telephone interview with Ebadullah, December 3, 2021.
[ 39 ] Human Rights Watch telephone interview with Morad, December 6, 2021.
[ 40 ] Human Rights Watch telephone interview with Rostam, November 20, 2021.
[ 41 ] Human Rights Watch telephone interview with Waiz, November 30, 2021.
[ 42 ] Human Rights Watch telephone interview with Mahmood, November 12, 2021.
[ 43 ] More on Fathullah’ s experience, see section, “ Violence and Abuse at the Time of Detention, ” p. 12.
[ 44 ] Human Rights Watch telephone interview with Karim, November 15, 2021.
[ 45 ] Ibid.
[ 46 ] Human Rights Watch telephone interview with Amena, February 20, 2022.
[ 47 ] Ibid.
[ 48 ] Human Rights Watch telephone interview with Mahmood, November 12, 2021.
[ 49 ] Human Rights Watch telephone interview with Afsar, November 24, 2021.
[ 50 ] Human Rights Watch telephone interview with Morad, December 6, 2021.
[ 51 ] Human Rights Watch telephone interview with Zayan, March 16, 2022.
[ 52 ] Human Rights Watch telephone interview with Bedar, January 28-29, 2022.
[ 53 ] Human Rights Watch telephone interview with Waiz, November 30, 2021.
[ 54 ] See “ Greece: Investigate Pushbacks, Collective Expulsions, ” Human Rights Watch news release, July 16, 2020, https: //www.hrw.org/news/2020/07/16/greece-investigate-pushbacks-collective-expulsions #; “ Greece: Violence Against Asylum Seekers at Border, ” March 17, 2020, https: //www.hrw.org/news/2020/03/17/greece-violence-against-asylum-seekers-border #.
[ 55 ] “ Greece: Violent Pushbacks at Turkey Border, ” Human Rights Watch news release, December 18, 2018, https: //www.hrw.org/news/2018/12/18/greece-violent-pushbacks-turkey-border.
[ 56 ] See “ About Us – Who We Are, BVMN History, ” Border Violence Monitoring Network ( BVMN), undated, https: //www.borderviolence.eu/about/ ( accessed March 17, 2022).
[ 57 ] BVMN, “ Illegal Push-Backs and Border Violence Reports, Balkan Region ” September 2021, https: //www.borderviolence.eu /wp-content/uploads/BVMN-Monthly-Report-September-2021.pdf ( accessed March 17, 2022), p. 5. For other reports published by the Border Violence Monitoring Network that include details and/or accounts of third-country nationals carrying out pushbacks, see BVMN, “ Illegal Push-Backs and Border Violence Reports, Balkan Region, ” June 2021, https: //www.borderviolence.eu/wp-content/uploads/BVMN-Monthly-Report-June-2021.pdf ( accessed March 17, 2022); BVMN, “ Illegal Push-Backs and Border Violence Reports, Balkan Region ” April 2021, https: //www.borderviolence.eu/wp-content/uploads/BVMN Monthly-Report- April 21.pdf ( accessed March 17, 2022).
[ 58 ] Human Rights Watch call with two staff members of Josoor, February 25, 2022. For more about Josoor, see “ About Josoor, ” Josoor, undated, https: //www.josoor.net/en/about-josoor ( accessed March 17, 2022). For select testimonies collected by Josoor that describe third-country nationals as carrying out pushbacks of migrants from Greece to Turkey, see Josoor, “ You Are Muslim and We Are Christian Why Come to Us Go to a Muslim Country, ” Josoor, BVMN, September 3, 2021, https: //www.borderviolence.eu/violence-reports/september-3-2021-1100-dilofos-3-4km-from-yenikadin/ ( accessed March 17, 2022); “ Nearly 100 People Held Overnight in a Cell of 5 X 4 Meters Size For 6 – 7 Hours. Including Women and Children. One Was Badly Beaten and Kicked in the Chest Because He Had a Phone and They Thought He Was a Smuggler, He Fainted, ” Josoor, BVMN, September 12, 2021, https: //www.borderviolence.eu/violence-reports/september-12-2021-0000-uyuklutatar/ ( accessed March 17, 2022).
[ 59 ] “ If Anyone Can Speak English, You Can Come Work For Them [ Greek Police ] For Six Months and Then You Will Be Given Papers For Asylum ”, Josoor, BVMN, April 8, 2021, https: //www.borderviolence.eu/violence-reports/april-8-2021-0600-island-near-karayusuflu/ ( accessed March 17, 2022).
[ 60 ] “ Greek Prime Minister meets Frontex Executive Director during his visit to Athens, ” Frontex news release, May 21, 2021, https: //frontex.europa.eu/media-centre/news/news-release/greek-prime-minister-meets-frontex-executive-director-during-his-visit-to-athens-gblJrS ( accessed March 17, 2022).
[ 61 ] Human Rights Watch telephone interview with Iqbal, January 30, 2022.
[ 62 ] Human Rights Watch telephone interview with Hakem, February 10, 2022.
[ 63 ] Ibid.
[ 64 ] Ibid.
[ 65 ] “ Frontex Failing to Protect People at EU Borders, ” Human Rights Watch news release, June 23, 2021, https: //www.hrw.org/news/2021/06/23/frontex-failing-protect-people-eu-borders #. | general |
12 things you may have missed in the federal budget | The information you requested is not available at this time, please check back again soon.
Finance Minister Chrystia Freeland tables the federal budget in the House of Commons as Prime Minister Justin Trudeau looks on in Ottawa, Thursday, April 7, 2022., THE CANADIAN PRESS/Adrian Wyld
Coming in at a hefty 304 pages, there were plenty of measures to parse through in this year’ s federal budget, from big-ticket spending items to smaller measures including support for PEI potatoes, a cryptocurrency review, and more details about sending Canadian astronauts deeper into space.
Here are 12 things you may have missed in Budget 2022.
The feds are looking to make their plan for a high-frequency rail corridor between Toronto and Quebec City a reality, announcing $ 396.8 million over the next two years for Transport Canada to help plan and design new steps for the rail corridor. Originally announced last year, the high-speed rail project is not expected to be in service until early next decade.
Ottawa is moving up the timeline for the implementation of its publicly accessible ownership registry by two years, making good on one of the pledges made as part of the support agreement with the New Democrats. The registry – essentially a database of who ultimately owns and controls private corporations – is now expected to be accessible by the end of the year, two years earlier than initially promised.
The federal budget outlined plans for the feds to introduce a single, non-profit, external entity to address consumer complaints about the banks. Currently, there are two bodies that handle complaints, the Ombudsman for Banking Services and Investments, and ADR Chambers Banking Ombuds Office.
Ottawa plans to give the CRA $ 1.2 billion over the next five years so the agency can expand audits of larger entities and non-residents engaged in “ aggressive ” tax-planning schemes. That measure is expected to recover $ 3.4 billion over five years in potential lost tax revenue.
The feds are also turning their attention to already-announced spending measures to see if savings could be found. Ottawa is planning to review spending plans to potentially reduce their size and scope in an effort to trim spending by $ 3 billion. An update on this initiative is expected in the fall fiscal update.
The Prince Edward Island potato industry is getting some love, after the discovery of potato wart prompted the U.S. to cut off imports for four months. Budget 2022 is setting aside a total of $ 28 million over the next two years on two initiatives to support the industry: $ 16 million to support long-term investments, and $ 12 million to help the Canadian Food Inspection Agency accelerate its investigation into the potato wart problem.
Ottawa has allocated $ 237.2 million over the next five years for Transport Canada to complete the construction of the Lac-Mégantic rail bypass. The bypass was originally slated to be completed next year, but the timeline has been pushed past 2023.
The federal government is launching a financial sector legislative review of the “ digitalization of money ”, including taking a closer look at digital currencies including crypto and how it fits into financial sector stability and security.
In the wake of last year’ s devastating wildfires through much of Western Canada, Ottawa is earmarking more support for firefighting equipment. The budget sets out $ 269 million over the next five years to help provinces procure equipment like trucks and aircraft, and a further $ 37.9 over that span to train 1,000 new firefighters.
With housing at a premium and some Canadian families looking to a multi-generation home as a potential avenue, Ottawa is rolling out a Multigenerational Home Renovation Tax Credit, which would provide a credit of up to $ 7,500 toward the creation of a secondary suite for a senior family member or one living with a disability.
While the development of the COVID vaccine was remarkably rapid, there are still many questions about the long-term effects of the disease. To that end, the feds are providing $ 20 million worth of funding to the Canada Institutes of Health Research over the next five years to research the potential long-term impacts of COVID.
Finally, the federal government announced plans to introduce new legislation to enable Canada’ s participation in the Lunar Gateway program, a planned small space station in lunar orbit under development by NASA. If the project is completed, Canadian astronauts could be part of a crewed mission in the moon’ s vicinity, which hasn’ t been attempted since 1972. | general |
Bang & Olufsen interim report Q3 2021/22: Bang & Olufsen achieved double-digit growth for the seventh consecutive quarter | The company achieved revenue growth of 10% and a positive EBIT before special items in Q3. Bang & Olufsen continued to progress in line with its turnaround strategy, delivering double-digit growth for the seventh consecutive quarter.
In Q3, growth was driven by both product sales and Brand Partnering. The positive trend in sell-out also continued, underlining the good customer demand for B & O products across markets. The global scarcity of components had an adverse impact on both revenue, especially in the Staged and Flexible Living categories, and costs. The EBIT margin before special items was 0.7% and free cash flow was a negative DKK 14m due to higher component costs, which amounted to more than DKK 65m in the quarter.
The company maintains its outlook for 2021/22. The company expects the high level of component and logistics costs experienced in Q3 to continue throughout the remainder of the financial year, impacting earnings and free cash flow negatively. Therefore, the company expect EBIT margin before special items and free cash flow to be in the low end of the range. In addition, uncertainty related to global supply chains and consumer demand has increased following higher inflation, Russia’ s invasion of Ukraine and COVID-19 lockdowns in China.
CEO Kristian Teär comments:
“ For the seventh consecutive quarter we delivered double-digit growth. We achieved this despite the ongoing global supply chain challenges. That is a testament to the resilience of our partners and employees, and I want to thank them for their big contribution. In Q3, component scarcity impacted both our costs and growth, and we expect this to continue for a while. In addition, we see increased uncertainty related to consumer demand following higher inflation, Russia’ s tragic invasion of Ukraine and COVID-19 lockdowns in China. ”
“ Our strategy is working, and we continued to build robustness in Q3. We added key people to the teams in especially engineering and regional sales and marketing to ensure that we have the right capabilities for the future. We continued to see high customer demand across markets, we grew our customer base by 25%, and we launched new products. We introduced a new edition of our gaming headphone to strengthen our position in the fast-growing gaming market. We also presented the Beosystem 72-22 as part of our Classics programme, showcasing our unique capabilities and the longevity of our products, which is a key differentiator for us. ”
Financial highlights
Strategic progressComponent scarcity impacted strategy execution again in Q3. Marketing activities were adjusted to accommodate for product availability.
Outlook maintainedThe company maintains the outlook for the financial year 2021/22, but due to higher component costs, the company now expects EBIT margin before special items and free cash flow to be in the low end of the range. The outlook is as follows:
The outlook is based on certain assumptions, including ceasing operations in Russia and Belarus since 24 February 2022. The outlook is subject to increased uncertainty related to supply chain and consumer demand due to higher inflation, the war in Ukraine and COVID-19 lockdowns in China. ( see page 18 of the interim report for 9M 2021/22)
Conference call for analysts and investorsThe company will host a webcast on 7 April 2022 at 10:00 CEST, where the financial development for Q3 21/22 will be presented.
The webcast can be accessed at https: //streams.eventcdn.net/bo/q3202122
DK: +45 7872 3250 UK: +44 333 300 9265US: +1 646 722 4902
For further information, please contact:
Martin Raasch EgenhardtInvestor RelationsPhone: +45 5370 7439
Jens Bjørnkjær GamborgGroup CommunicationsPhone: +45 2496 9371
Attachments | business |
Can next month’ s RideLondon-Essex sportive help make the county’ s roads safer for cyclists? | Like this site? Help us to make it better.
After a two-year absence, the RideLondon festival of cycling is back next month, with Essex replacing Surrey as host of most of the route of its flagship sportive – but with the event likely to attract more cyclists to the county, whether to prepare for it or after seeing it on TV, can hosting the RideLondon-Essex 100 help lead to safer roads for bike riders there? That’ s the main theme discussed in the latest episode of the road.cc Podcast in association with MET, which is now online for you to listen to.
We also pay tribute to cycling writer-turned podcaster Richard Moore, who died last week, plus there’ s a new regular feature for you on the Podcast in which members of the road.cc team share some of their cycling confessions.
Listen to the road.cc Podcast here.
Transport journalist and road.cc contributor Laura Laker joins road.cc Podcast host George Hill and site editor Jack Sexty to discuss the dangers that cyclists face on the roads of Essex and, given the expected rise in the numbers cycling there as a result of RideLondon, whether the event can be harnessed to improve their safety.
It’ s a question Laura has addressed in two articles published on road.cc in recent months, the first in November, the second in March.
> RideLondon: Essex urged to focus on road safety ahead of revamped sportive
> Is Essex ready for RideLondon? Police defends silence over road safety issues
“ I picked up the RideLondon-Essex story because I personally live about four miles from the Essex border and have cycled around the country roads here for years, or I used to, ” says Laura. “ I actually stopped riding the roads because I don't know what it is about the area, but the driving standard us just horrific and I find drivers in Essex quite frightening.
“ It’ s great to have it moved around a bit because I know that it’ s boosted cycling numbers in Surrey hugely since Ride London, ” Laura explains, with the county having hosted the first seven editions of the event ahead of the 2020 edition being cancelled due to the coronavirus pandemic.
Laura says that on learning about the event switching to Essex, “ I was curious what they were going to do about this problem of driver behaviour and driver education, ” especially given that while it may be a closed road sportive, “ It’ s going to attract riders outside of the event, either training on the roads or inspired by the event to think, oh, that’ s a really nice stretch of road, I might try and do that on a Sunday run or something. ”
She goes on to talk about how she put the two articles together – speaking to RideLondon organisers London Marathon Events for the first, with efforts to contact Essex County Council seeing her passed “ from place to place, ” as well as the head of roads policing at Essex Police for the second.
A common thread in that RideLondon-Essex, as a closed road event, was not seen as one that needed specific awareness raised regarding driving safely around cyclists, and while Laura discusses her conversation with police regarding their Vision Zero approach to road safety and how they use data to targeted specific locations and driver behaviour, cuts to staffing numbers and traffic officers in particular in recent years make the force’ s job very difficult when it comes to enforcing road laws.
“ I just I don't think it's good enough just to say, well, it's on closed roads and kind of forget the knock-on effect, ” Laura adds.
In our new cycling confessions segment, you’ ll discover which two members of the road.cc team admit that they are unable to ride no-handed ( believe me, they are not the only ones round here – I have plenty of other confessions of my own though).
We also find out who came within millimetres of a touch of wheels with Bradley Wiggins during a press trip on the Paris-Roubaix pavé back in 2011 – just three days before the Team Sky star was due to take on the Hell of the North for real ( strangely, the staff member in question failed to mention almost putting Wiggins out of the race in the article he wrote for the site at the time).
> Hitting the Paris-Roubaix pavé with Team Sky
We’ ll have some more cycling confessions for you in forthcoming episodes – in the meantime, let us know your own ones in the comments below and we’ ll try and highlight some in the next edition of the road.cc Podcast.
This episode opens on a sombre note following last week’ s news that writer and Cycling Podcast co-founder Richard Moore had passed away at the age of 49, with George paying tribute to a man who was one of the giants of cycling journalism and found a new audience by swapping the keyboard for the microphone.
> Cycling writer and podcaster Richard Moore dies at the age of 49
“ I genuinely don't think that this Podcast would exist without Richard's forethought and his skill when it came to presenting podcasts, ” says George.
“ It meant that I understood that cycling is something that you can just sit around and talk to people about and make it into something that other people want to listen to. His interview style, the way that he discussed cycling in general, and his kind of upbeat, happy manner meant that it was a pleasure to listen to him.
“ I didn't personally know Richard, but he has had a profound impact on my life, ” adds George, so everyone at road.cc would like to express their profound condolences to Richard’ s family and friends, and we 'd like to thank Richard for everything that he did for the cycling community at large Rest in peace. ”
One thing that strikes me – someone who did have the pleasure of meeting Richard a few times over the years – about George’ s tribute is that as the news broke last week, many of us took to social media to express not only our shock and grief, but also to speak of the encouragement and support he freely gave to journalists new to the cycling scene. To know that in George’ s case – and that of many others, I imagine – that people who had never met him also came away with that speaks volumes to the character of a man who will be deeply missed and fondly remembered.
The road.cc Podcast is available on Apple Podcasts, Spotify and Amazon Music, and if you have an Alexa you can just tell it to play the road.cc Podcast. It's also embedded further up the page, so you can just press play.
We hope you enjoy listening to this episode as much as we enjoyed recording it – as ever, let us know in the comments what you thought of it, and feel free to suggest future guests or topics you would like to see covered by emailing podcast [ at ] road.cc
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Simon has been news editor at road.cc since 2009, reporting on 10 editions and counting of pro cycling’ s biggest races such as the Tour de France, stories on issues including infrastructure and campaigning, and interviewing some of the biggest names in cycling. A law and languages graduate, published translator and former retail analyst, his background has proved invaluable in reporting on issues as diverse as cycling-related court cases, anti-doping investigations, and the bike industry. He splits his time between London and Cambridge, and loves taking his miniature schnauzer Elodie on adventures in the basket of her Elephant Bike.
Deore XT seems to be the sweet spot if you're after low weight and durability. XTR is racing gear ( or at least the pedals are) and does seem to be...
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Here's part of the write-up from MsG's link above:
By the looks of it, some of the unsuccessful projects stole, err, made a lot of money from would be investors. The Chinese one doesn't surprise me... | general |
Oil Prices Stabilize as IEA Pact Smothers Volatility | Oil futures diverged on Thursday following the official announcement that member countries of the International Energy Agency ( IEA) will release a combined 120 million barrels of crude into the market.
As a result, prices for front-month contracts fell, while those for delivery later in the year edged upward. Those diverging trajectories helped flatten the price curve and take some of the “ super ” out of what has been an extremely backwardated curve in recent weeks.
In London, the front-month June contract slipped by 49¢ to $ 100.58 per barrel on Thursday, while the October contract rose 36¢ to $ 97.79/bbl.
On Nymex in New York, the May contract for West Texas Intermediate ( WTI) dipped 20¢ to $ 96.03/bbl, while September barrels climbed 56¢ to $ 93.42/bbl.
The spread between the June and December contracts for ICE Brent, the leading global benchmark, was $ 4.60 on Wednesday, while two weeks ago, it was an astonishing $ 18.
Analysts label such a wide time spread as “ super-backwardation, ” given the extreme premium buyers must pay for prompt oil.
The six-month price curve is now at a level not seen since mid-January, a month before the war started in Ukraine and supply worries were much more muted.
In other words, some of the volatility in oil prices has vanished — at least for now — as markets factor in oil sales from strategic reserves, a contraction in demand caused by the Covid-19 pandemic in China, and elevated motor fuel prices.
For the market, the sale of strategic stocks also represents a medium-term risk, since whatever is withdrawn now will have to be replaced later, which is placing upward pressure on oil prices for later in the year.
The price of dated Brent, or physical delivery of crude, has now slipped to some 80¢ below the front-month contract — the surest sign that short-term supply fears have waned considerably.
Since the war in Ukraine began on Feb. 25, the spread between dated Brent and the paper market has often hovered around $ 5, a reflection of supply shortages.
By pumping more crude from strategic reserves into the global balance, the US and its allies are hoping to alleviate some of the price pain for consumers ahead of summer.
On Wednesday, the IEA's board of directors approved a decision to sell 120 million bbl from the reserves of 30 member nations, which includes 60 million bbl from the US’ planned release of 180 million bbl ( see table).
All told, the Strategic Petroleum Reserve releases from April-October will amount to 240 million bbl, or about 1.33 million barrels per day.
By contrast, the sanctions against Moscow and the “ self-sanctioning ” by the market will conceivably remove as much as 3 million b/d from global markets, according to some estimates. | general |
Amstel Gold Race offers equal pay to men and women for first time | The winner of the women's Amstel Gold Race will claim the same prize money as the winner of the men's edition from this year.
On Sunday, both the men's and women's pelotons will compete for a total prize pot of €40,000, meaning the two will be equal on pay for the first time, with the victors claiming €16,000 each.
“ That is a big step forward. In total in the prize money for the women as with the men. That is 30,000 more than last year. A considerable increase, ” Leontien van Moorsel, the race director of the Amstel Gold Race said.
“ When you see where women’ s cycling comes from and where we are now, it really makes a world of difference. The development to get more equality in cycling has taken off in recent years. And here we really want to be in the leading group. ”
The Dutch classic follows other spring races including the Tour of Flanders in offering equal prizes for both the men and women.
In 2021, the discrepancy in prize money between Omloop Het Nieuwsblad became one of the main talking points in the aftermath of Opening Weekend, with world champion Anna van der Breggen picking up only €930 for winning compared to Davide Ballerini's €16,000.
Race organisers have therefore been keen in 2022 to right this imbalance, with Flanders Classics saying that from next season all of its spring races should have equal prize pots.
“ Five years ago we started again with a women’ s edition. In recent years we have taken steps again and again to achieve more equality in the Amstel Gold Race, ” Els Dijkhuizen, marketing director of Heineken Netherlands, who is ultimately in charge of the race's sponsorship, said. “ In addition, there is increasingly longer airtime for the women’ s race at the NOS and we have gradually increased the prize money in recent years. ”
The modern iteration of the Amstel Gold Race dates back to 2017.
Favourites for this year's women's race include Annemiek van Vleuten and Demi Vollering, both of whom finished on the podium behind Marianne Vos last year.
In the men's edition, defending champion Wout van Aert will still be absent after his covid positive, but Tom Pidcock, Tiesj Benoot and Mathieu van der Poel are all expected to start. | general |
Moderna Expands Product Line, Global Efforts, with IAVI Partnership | Building on the success of its COVID-19 mRNA vaccine, Moderna, Inc. is partnering with the nonprofit scientific research organization IAVI to develop treatments and vaccines against global health threats. In particular, they will focus on HIV/AIDS, tuberculosis ( TB), antimicrobial-resistant enteric infection and COVID-19.
“ We are excited to partner with IAVI to leverage the power of mRNA and extend our commitment to global health across multiple diseases, ” said Stéphane Bancel, Moderna’ s chief executive officer. “ Moderna’ s mRNA platform, with its speed, scale, and flexibility, is uniquely suited to tackle current and emerging pathogens. With our mRNA technology and IAVI’ s discovery and development expertise, together we have an opportunity to address persistent global health threats. ”
This is not the first collaboration between the two organizations. On January 27, 2022, they announced the first doses had been administered in a clinical trial of experimental HIV vaccine antigens at George Washington University ( GWU) School of Medicine and Health Sciences in Washington, DC. The Phase I IAVI G002 trial is evaluating the theory that sequential dosing of priming and boosting HIV immunogens delivered via mRNA can cause B-cell responses and guide their early maturation into broadly neutralizing antibody development.
The HIV vaccine antigens being studied as mRNA were originally developed as a protein by William Schief, Ph.D., professor at The Scripps Research Institute and executive director of vaccine design at IAVI’ s Neutralizing Antibody Center. In 2021, Schief announced results from the IAVI G001 trial that demonstrated the adjuvanted protein-based version of the priming immunogen resulted in the desired B-cell response in 97% of recipients. IAVI G002 tests priming of the desired immune response using an mRNA delivery system, but also evaluates the ability of the boosting immunogen to further induce B cells to mature.
The new collaboration also includes IAVI G002. The trial is funded by the Bill & Melinda Gates Foundation and is the first mRNA HIV vaccine to be tested in humans. They expect another Phase I trial to start this year in South Africa and Rwanda, IAVI G003.
IAVI G003 is sponsored by IAVI and supported by the U.S. President’ s Emergency Plan for AIDS Relief ( PEPFAR) via the U.S. Agency for International Development ( USAID). The Bill & Melinda Gates Foundation has also supplied support by way of grants to Moderna and to the Collaboration for AIDS Vaccine Discovery Vaccine Immunology Statistical Center.
They will also have joint programs for TB vaccine candidates and therapeutic antibodies against COVID-19, HIV and enteric pathogens. These are all currently in the preclinical stage. | general |
Shanghai Races to Build Hundreds of Thousands of Isolation Beds | The information you requested is not available at this time, please check back again soon.
( Bloomberg) -- Shanghai is transforming conference centers and conscripting neighboring provinces to create isolation facilities for hundreds of thousands of people, a sign of its commitment to a zero tolerance approach to Covid-19 amid China’ s worst outbreak to date.
The Chinese financial hub is adding tens of thousands of beds to what are already some of the world’ s biggest isolation sites as it sticks to a policy of quarantining all those positive for the virus, regardless of severity, plus everyone they interacted with while infected. Nearly 150,000 people have been identified as close contacts and put into isolation. More than 100,000 others are considered secondary contacts and are being monitored, according to the government.
It’ s a strategy that grew out of the original outbreak in Wuhan, which China successfully quelled, but is proving more challenging to maintain in the face of ongoing outbreaks and more transmissible variants.
Shanghai reported almost 20,000 new infections on Thursday, a record daily tally, as municipal authorities extended what is now a citywide lockdown. Complaints about poor management and the indefinite confinement are emerging from the city’ s 25 million residents as they grow increasingly desperate, with food and medical care in short supply.
There is no sign of respite from the central government, however, with officials repeating on Wednesday the country’ s adherence to a dynamic Covid Zero policy that allows “ no wavering or relaxation. ”
The city has turned the Shanghai New International Expo Center into an isolation facility with almost 15,000 beds. The cavernous National Exhibition and Convention Center, the venue for China’ s biggest import trade event, is being converted to house another 40,000 patients.
Gymnasiums, indoor stadiums and hotels across the city have also been taken over by the government.
Locations outside of Shanghai are also being brought into the effort. Various quarantine projects are under construction in Zhejiang and Jiangsu to help handle as many as 60,000 people from Shanghai.
One Shanghai resident and dance instructor, who asked to be identified only as Xiao due to the sensitive nature of the topic, was sent on a shuttle bus into quarantine at the Shanghai Indoor Stadium early Wednesday morning. She was told during a midnight phone call from her neighborhood committee that she tested positive for Covid.
The stadium was turned into a makeshift quarantine center and divided into six sections, each able to hold 400 patients, Xiao said. Her temperature dropped on Thursday and she was feeling much better, though testing wasn’ t available. Just one emergency doctor was on call.
Xiao was told that everyone would be moving to a temporary hospital once beds opened up. The city is building more of those as well.
“ I hope the government can listen to what the people want because even if we can reach Covid Zero, it will come back again sooner or later, ” she said. “ We all just want a normal life. ” | general |
Robert Walters net fee income jumps as hiring picks up pace | The recruitment industry is experiencing pent-up demand as it recovers from a COVID-19 pandemic-led hit, with corporates resuming their battle to get suitable talents amid staffing shortages and employee resignations.
Robert Walters, which specialises in recruitment for accounting, legal, and tech jobs, said 82% of the group's net fee income was now generated by its international businesses, with returns from Asia Pacific and Europe growing by 37% and 40%, respectively, on a constant currency basis.
The current trading remained in line with expectations, the London-listed firm said, adding that its net fee income for the three months ended March 31 jumped to 98.4 million pounds ( $ 128.8 million), marking a fourth straight quarterly growth.
The staffing specialist, which operates in more than 30 countries, reported a more than four-fold rise in annual profit last month, with Asia Pacific and Europe regions witnessing the sharpest uptrend in hiring.
Underscoring demand for talent across all markets, the company said it had increased its staff numbers by 9% since the end of 2021.
( $ 1 = 0.7642 pounds)
( Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips and Uttaresh.V) | business |
European markets: Hawkish Fed, Russia sanctions, bond yields in focus | LONDON — European markets closed slightly lower on Thursday as volatility continued following details of the U.S. Federal Reserve's monetary tightening plans and the ongoing war in Ukraine.
The pan-European Stoxx 600 provisionally ended down 0.25% as U.S. Treasury yields slipped from multi-year highs after four days of inclines. Oil and gas stocks shed 1.9% to lead losses, while healthcare stocks rose 1.4%
The European blue chip index closed down by around 1.6% on Wednesday as hawkish comments from two Fed policymakers heightened expectations that the central bank would embark on a more aggressive tightening process.
Wall Street then sold off for the second consecutive day on Wednesday as Fed meeting minutes showed that officials planned to reduce their trillions in bond holdings by a consensus amount of around $ 95 billion. Meanwhile, policymakers indicated that one or more 50-basis-point interest rate hikes could be warranted to battle surging inflation.
U.S. stocks were seen lower for the third consecutive session on Thursday, while shares in Asia-Pacific also fell, with Japan's Nikkei 225 shedding 1.69% to lead losses.
Investors worldwide are also keeping an eye on the fallout from China's tight Covid-19 controls as it battles another surge in cases, potentially further disrupting global supply chains. They're also awaiting details of a new round of Western sanctions against Russia after evidence emerged of potential war crimes in Ukraine.
NATO foreign ministers gathered in Brussels on Wednesday for a two-day meeting to address Russia's invasion of Ukraine and the international body's response.
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Will Hobbs, chief investment officer at Barclays Wealth, told CNBC on Thursday that investors should avoid `` rubbernecking the potential economic accidents in the road ahead '' and instead look at the overall spectrum of probabilities.
`` Sentiment is providing less of a cushion now than it was a couple of weeks ago, but still the balance of probabilities just tilts fractionally up for us with stocks, '' Hobbs said.
`` The point for us is that the world economy has considerable momentum going into this next tricky patch and that is probably not to be discounted for stocks. ''
In corporate news, Shell has announced that it will write off between $ 4 and $ 5 billion in the value of its assets after pulling out of Russia following the country's unprecedented invasion of Ukraine.
Credit Suisse republished historical financial results on Thursday morning to reflect its new divisional reporting structure that was announced in November.
In terms of individual share price movement in Europe, Swedish carmaker Volvo fell 8.5% after JPMorgan cut its target price.
At the top of the index, Italian road and airport operator Atlantia surged nearly 7% after Global Infrastructure Partners and Brookfield Infrastructure announced that they had pitched a possible takeover bid for the company.
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A $ 430 Billion Habit Got Japan's Central Bank Hooked on ETFs | The information you requested is not available at this time, please check back again soon.
The Bank of Japan headquarters in Tokyo. Photographer: Kiyoshi Ota/Bloomberg, Bloomberg
( Bloomberg) -- In most of the world, exchange-traded funds are simply tools that allow investors to track a certain set of stocks. In Japan, they’ ve been saddled with everything from propping up the market and boosting inflation, to accelerating economic growth, improving corporate governance and even encouraging gender equality.
Such wide-ranging goals have led the Japanese central bank to amass a whopping 80% of the country’ s ETFs—equivalent to about 7% of its $ 6 trillion stock market—in less than a decade. That’ s far further than any other central bank in the world has gone in trying to prime its economy via equities purchases. The Bank of Japan has also outpaced peers with its $ 3.7 trillion in net bond purchases.
But nine years and few hundred billions of dollars worth of ETF purchases later, the most striking consequence of the world’ s boldest monetary experiment is this: The BOJ is stuck with a vast portfolio it might not be able to get rid of.
One year ago, the central bank effectively halted its ETF purchases—the first clear step towards winding down this part of its extraordinary intervention that critics said had distorted the market and made it the largest owner of the nation’ s stocks. The move is in sharp contrast with the BOJ’ s seemingly insatiable appetite for government bonds. Just last week, the central bank made global headlines when it launched a four-day long unlimited buying spree to stave off a global debt rout and keep yields under control.
The slow retirement of its ETF-buying program has been a quieter affair. Governor Haruhiko Kuroda remains tight-lipped about an exit plan as he prepares to step down in 2023; the tricky task of offloading the BOJ’ s position without sparking a major selloff in stocks will now fall to his successor. Doing so may take decades, if not generations. Already the biggest stock market intervention in central bank history, it has prompted criticism that it has failed to live up to the hype. CLSA Securities summed up the sentiment in a Dec. 2020 note: “ Thanks for nothing. ”
How the BOJ got here is a cautionary tale for policymakers and investors everywhere about how far a central bank should intervene in capital markets and the perils of artificially propping up a market for so long that it becomes hard to see a way out.
“ They can not sell now. Shares will fall for sure, ” said Tetsuo Seshimo, a portfolio manager at Saison Asset Management Co. “ The negative impact would be pretty huge. ”
Japan’ s economy was a global outlier in 2013, when the central bank set about reversing 15 years of deflation with its unprecedented asset-buying scheme. And it remains an outlier today, for all that the bank’ s spending has done to weaken the yen, boost corporate profits and lower unemployment.
Demand-driven inflation is still too weak to keep prices rising at the BOJ’ s desired pace, and is well below rates in other major economies. So while global peers like Jerome Powell ramp up their fight to rein in inflation, Kuroda remains wedded to stimulus.
“ The likelihood of other central banks following the BOJ’ s lead on ETFs is extremely low, ” said Kazuo Momma, who served as head of monetary policy at the BOJ before leaving the bank in 2016. “ The focus of the ETF program has now shifted to reducing its side effects. ” BOJ officials told Bloomberg News when contacted for comment that its stock purchases were effective in stabilizing markets, particularly during heightened instability. They added that it was premature to discuss exit strategies from the bank's broad monetary easing measures, including the ETF buying.
At the outset, the BOJ’ s plan to buy ETFs was just a sliver of a broader strategy anchored in huge purchases of Japanese government bonds. The stock-fund buying, which had been tested on a small scale in 2010 by Kuroda’ s predecessor, was largely seen as a decoration designed to characterize the governor’ s asset-buying as more than just a massive bond-purchasing program.
“ The BOJ had to show it was taking bold action so it needed to ramp up the ETF purchases too in 2013, ” said Sayuri Shirai, a former BOJ board member under Kuroda’ s governorship.
Kuroda had dramatically changed Japan’ s narrative on fighting inflation, insisting that an intense, concerted effort could achieve its 2% target in around two years. He was backed by newly elected Prime Minister Shinzo Abe, who was also on a mission to return Japan’ s economy to faster growth.
The success of the experimental ETF program was far from certain. Some economists say that a perfect set of circumstances needed to align: Purchases would have to boost stock prices, prompting companies to cash in by issuing more shares and then investing the proceeds into projects that boost demand and—ultimately—push consumer prices higher.
The initial results were promising. The Topix Index capped a 51% rally in 2013, its third best on record, as foreign investors bought into Abe’ s vision, while the Nikkei 225 saw its strongest annual performance since 1972. Prices started rising and—with a temporary boost from a sales tax hike—inflation even topped 3%. In May 2013, The Economist magazine superimposed Abe’ s face onto Superman, with the cover line “ Is it a bird? Is it a plane? No… It’ s Japan! ”
As the asset buying continued, though, it became clear that consumer prices weren’ t reacting as hoped. And after oil prices plunged in late 2015, inflation headed back toward zero.
Suddenly, the whole effort was in danger of turning into nothing more than a give-away to investors.
In January 2016, with his self-imposed inflation deadline already in the rear-view mirror, Kuroda shocked investors by introducing negative interest rates. It seemed like a last-ditch effort to regain traction on prices. But instead of stimulating the economy, the decision pummeled banking shares, infuriated the public and strengthened the currency as price falls accelerated.
And before the BOJ had a chance to rethink its stimulus program, the U.K.’ s shock decision to leave the European Union left the central bank with a huge problem: tumbling equities and a yen that was too strong for the exporter-heavy economy.
Something had to be done, but what? Simply buying more bonds to calm markets would have gone against the logic of paring back purchases under a new yield-curve control strategy that was still being discussed, people familiar with the matter said. Lowering the negative interest rate was also out of the question, the people added, given the unexpected amount of flak the BOJ had received over the move in the first place.
“ The bank was surrounded by dead ends. They were cornered into a place where they couldn’ t do anything else, ” said Izuru Kato, president at Totan Research Co.
That left Kuroda with only one option: Double the size of the ETF program to 6 trillion yen a year, giving equities an immediate shot in the arm and reassuring markets that the central bank was committed to its goals.
The decision split the bank’ s nine-member board, some of whom were already looking for ways to wind down stimulus measures. But Kuroda prevailed and the ETF program soared to a higher altitude on autopilot, stepping in whenever markets fell. Among traders, the rule of thumb at one point became that a decline of 0.5% in the Topix during the morning session would trigger purchases.
Market participants told Bloomberg News that in conversations with the BOJ, they expressed increasing concern about price distortion and thinning liquidity, as the central bank’ s ETF ownership approached and then topped 80%. The BOJ listened but didn’ t reveal if it shared those worries, the people said.
As the bank’ s ETF portfolio expanded, the program gradually morphed into a cure-all for regulators’ gripes about corporate Japan.
In 2016, the BOJ started buying ETFs tracking companies that invest in “ physical and human capital ” —or those that avoid stockpiling cash hoards and buying back shares. In 2018, it added the MSCI Japan Empowering Women Select Index as a way to promote more female corporate leadership.BOJ officials say that “ some points to note have been raised ” regarding the impact of its ETF purchases, including their effects on corporate governance.
Yet as the remit of the BOJ’ s ETF buying policy spread ever wider, the bank’ s lofty 2% inflation goal remained out of reach.
The reason was simple. ETF purchases had only a “ limited power for stimulating aggregate demand, ” according to a 2019 study by the National Bureau of Economic Research. When equity prices rose, companies did issue more shares, but they mostly hoarded the proceeds instead of spending them on demand-inducing projects, the researchers concluded.
Then Covid-19 arrived. As the pandemic rattled markets in March 2020, governments and central banks around the globe rolled out unprecedented stimulus measures. The BOJ joined in. It scooped up bonds as the government ramped up spending, and it boosted its ETF buys by 165% in March 2020 from the previous month. It also set an annual cap on buying at 12 trillion yen, double its annual target.
Soon, the central bank overtook the $ 1.6 trillion Government Pension Investment Fund — the world’ s largest pension — as Japan’ s biggest shareholder. The new milestone worried policymakers, sources say. In 2021, the Nikkei 225 Stock Average soared above 30,000 for the first time in more than three decades, making the central bank’ s support of the stock market even more questionable.
Japan’ s ETF market has become “ very reliant on the BOJ, ” said Rebecca Sin, an ETF analyst at Bloomberg Intelligence. She added that it’ s also become “ very segregated, ” given that firms have favored issuing new products to fit BOJ buying guidelines.
At its March 2021 meeting, the central bank concluded that large-scale ETF purchases were effective in stabilizing markets when needed, but omitted mention of their impact on inflation. The implied takeaway was that having that tool on standby made more sense than jumping in whenever markets sneezed.
Last year’ s ETF purchases were the lowest since Kuroda took office.
Pausing the buying is one thing. Figuring out what to do with the $ 430 billion pile of stocks the BOJ has already accumulated is quite another. While bonds will roll off the balance sheet as they mature, ETFs must be actively sold. An exit strategy hasn’ t yet been formally discussed, according to people familiar with the BOJ’ s thinking. The market value of the ETFs is based off latest figures available from the end of September, not accounting for some small purchases since.There is a precedent for offloading assets. The BOJ has sold commercial bank shares it bought to support private lenders during a domestic banking sector crisis over two decades ago. If the central bank gets rid of its ETFs at the same pace to avoid ruffling markets, JPMorgan analysts estimate it will take 150 years to erase its holdings.
To be sure, the bank isn’ t under some kind of mandate to sell down this position; in theory it can hold its position forever. But simply holding on to stock funds that may be worth little in the future also leaves risks for the bank’ s finances, the people said. That’ s another reason why central banks avoid buying stocks outside of commitments to manage the national reserves, like the Swiss National Bank. The Federal Reserve lacks legal authority to do it.
BOJ officials said that the central bank will record provisions for possible losses if the total market value falls below its cost. However, as the ETF holdings increase further, the impact on the bank's balance sheet would become large, they added.
With Kuroda and his board unwilling to begin a conversation around how to exit stimulus mode, the outlook for the BOJ’ s ETF policy is shrouded in what some analysts have described as “ strategic ambiguity ” —with the central bank neither fully in the market nor fully out, and with no clear guidance on when, if ever, it will depart.
Last month, after the U.S. Federal Reserve announced its first interest-rate hike since 2018, Kuroda vowed to continue Japan’ s program of monetary stimulus. While Japan may briefly hit its long-held inflation target in the coming months, “ we are not in a position at the moment where inflation is going to reach 2% in a stable manner, ” the governor said in parliament.
It is no small irony that the BOJ is an outlier once more—just as it was when the ETF purchases began.
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The federal government is taking sharper aim at real estate investors and property flippers in a bid to help halt the country’ s long-standing – and worsening – housing affordability problem.
The Liberal government is scaling back its strategy to single out Canada's most profitable banks and insurers with targeted tax measures, resulting in about $ 4 billion less in revenue than originally planned. | general |
Travel « Peptide Therapeutics Foundation | All attendees and speakers are required to provide proof of COVID-19 vaccination to enter the Salk Institute. Individuals who are not fully vaccinated for any reason will not be allowed to enter the conference. There will be no exceptions.
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The Salk Institute for Biological Studies is located at 10010 North Torrey Pines Road, La, Jolla, CA. The Peptide Therapeutics Symposium will take place in the Conrad T. Prebys Auditorium, located in the South East Building. Check-in and registration will commence on Thursday, October 21st in the Fritz B. Burns Reception Center Lower Level.
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Recession signal from bond yield inversions could prompt portfolio rebalance: Experts | The information you requested is not available at this time, please check back again soon.
Talk of an upcoming recession is raising angst after a closely watched indicator flashed a warning sign, but experts say it could be a needed spark for investors to take a more active look at their portfolios.
Colin Cieszynski, chief market strategist at SIA Wealth Management, says investors should be ready, not complacent or passive, heading into an economic downturn.
`` It's a little bit more of an active market for investors right now. It's the kind of time where you need to be paying attention and it's not necessarily good to just sit back and just pretend everything is fine. ''
Concerns about recession surfaced in recent weeks after inversions in the yield curve for U.S. bonds, a frequent indicator of an economic downturn.
An inversion occurs when the rate of short-term bonds exceed longer-term ones, which signals investors are concerned about long-term prospects for economic growth. In recent weeks, the five-year and 30-year bond rates inverted for the first time since 2006, followed by the two and 10-year bonds.
A persistent inversion of at least one month for the two and 10-year bonds in particular has historically been an early warning of a possible recession. The spread has a 70 to 85 per cent success rate in predicting recessions since 1980, says BMO deputy chief economist Michael Gregory.
The yield curve briefly inverted a couple of times last week for the first time since 2019. It remained inverted Monday but reversed course slightly a day later. By Thursday morning, the two-year rate was 2.453 per cent and the 10-year was 2.664 per cent.
The Canadian yield curve was not inverted.
Inversion of two and 10-year bonds is just one measure. A more accurate predictor of recession is an inversion of the three-month and 10-year bonds, says Jules Boudreau, an economist at Mackenzie Investments.
`` And that's very far from inverting, so by looking only at the 10 minus two, which inverted for 15 seconds, we're kind of cherry-picking the indicator we want. So until we see the three month minus 10 year also invert, there's probably room to discount it a little bit. ''
While inversion may have been a reliable precursor to recession in the past, central bank quantitative easing policies to deal with the economic fallout from the COVID-19 pandemic may have reduced yields below where they would traditionally be, he says.
Boudreau says the economy is still pretty solid and not near a recessionary environment.
`` We would motivate overweight in stocks or keeping an investment in stocks just because we think the economy is still pretty solid, even if we are seeing some parts of market signals announcing a possible recession. ''
He says the probability of a recession is a little bit higher in the U.S. than in Canada.
`` I would put the probability of recession still well below 20 per cent over the next few years at least in Canada, '' he says, noting that Canada has a buffer from high nominal GDP growth and very high commodity prices.
`` Overall, I mean it's hard to forecast a recession when the economy is so strong. ''
The only way he sees a recession as likely is if central banks hike rates more than to the neutral rate and move above 2.5 per cent, which probably shouldn't happen until 2023.
`` So we're definitely safe, at least for the next year, '' he says.
Craig Fehr, investment strategist at Edward Jones, agrees and says it's too early to overreact to a slightly inverted curve.
`` We 've seen the yield curve flatten dramatically many times in the past without producing a recession. ''
But for those anxious about the prospect of recession, it's a good opportunity to do some proactive portfolio rebalancing since a big movement in bond rates has probably thrown the equity-fixed income mix for a lot of investors off their long-term targets.
So, he says the first order of business for investors is to ensure they have sufficient fixed income to help weather elevated market volatility expected for the rest of the year.
`` And then it's just about adding appropriate diversification to get that balance of growth and some protection against inflation, which equities, particularly high-quality equities, can provide that protection against inflation over time, '' he said.
`` The key is to make sure that as an investor, you're making some decisions that are better aligned to your time frame, as opposed to the time frame of the of the yield curve, which tends to be a more short term signal. ''
And it's important to avoid using selective indicators as an excuse to reduce market exposure, says Boudreau.
Diversification should be rule No. 1, he says, but next, concentrate exposure to stock markets with higher expected returns, like the Canadian market, which is less sensitive to interest rate hikes.
`` So I would say stay invested, but maybe tilt a little bit towards higher expected return markets like the Canadian market and the TSX. '' | general |
What European businesses face with China's zero-Covid policy | BEIJING — China's Covid controls have disrupted supply chains and stressed the daily life of workers, primarily in Shanghai and Shenyang, according to a slew of anecdotes from the EU Chamber of Commerce in China.
Mainland China has struggled in the last few weeks to control its worst wave of Covid since the initial shock of the pandemic in early 2020. While swift lockdowns then helped the country control the virus and return to growth, the latest outbreak stems from the more transmissible omicron variant.
Shanghai, home to the world's largest container shipping port, began a two-part lockdown on March 28 and has yet to announce when restrictions will lift.
EU Chamber members estimate Shanghai port volumes are down by about 40% week-on-week, Bettina Schoen-Behanzin, Shanghai chapter chair and a chamber vice president, said Wednesday.
She noted that while the port is `` technically doing business as usual, '' logistics still face challenges from a shortage of truck drivers, who are stuck in lockdowns or in need of frequent negative virus tests.
Shanghai International Port Group said in a statement Saturday that the ability of ships to reach designated spots for unloading or loading cargo was more efficient than it was last year overall. Since March 28, the average wait time for container ships at the port was less than 24 hours, the port said.
`` Shanghai is in a kind of state of exception, '' said Schoen-Behanzin. `` There's a strong sense of uncertainty throughout the city. It's fueled by supply shortages, endless lockdowns and a really big fear of being sent to those quarantine camps. ''
In an attempt to handle a surge in cases, Shanghai authorities have set up makeshift quarantine centers.
Schoen-Behanzin noted reports that people living in lockdown in the city have had to wake up at 4 a.m. to compete for online vegetable deliveries.
Businesses that do get permission to maintain operations — in food, pharmaceutical or chemical industries — need to keep employees in a bubble around the production facilities, said Schoen-Behanzin.
`` We hear more and more that some workers aren't volunteering anymore since there isn't [ a ] clear end in sight and they don't want to eat and sleep on site, '' she said.
Local authorities allowed similar stay-in-place work policies during a roughly one-week lockdown last month in the southern tech and manufacturing hub of Shenzhen.
Two days after the lockdown lifted, EU Chamber South China chapter Chair Klauz Zenkel said a company he visited still had `` many, many foldable beds '' — which the business planned to keep on hand because they weren't sure whether they 'd need them again soon.
China's Ministry of Commerce did not immediately respond to a request for comment.
In the northern Chinese city of Shenyang, locals have remained in a lockdown for more than two weeks, according to the local chapter chair Harald Kumpfert.
He said BMW's joint venture in the city initially could maintain production, but had to stop after an unspecified time `` because the supply chain could not be maintained. ''
`` Any transportation is stopped on the road, '' Kumpfert said. `` You would be caught by the police if you are on the road and you don't have special permission. ''
BMW did not respond to a CNBC request for comment.
Volkswagen, which has factories on the outskirts of Shanghai and in a major city of Jilin province — also in lockdown — said the two production sites would remain closed Wednesday and Thursday.
Kumpfert also said anecdotally during Wednesday's webinar a member company wasn't able to get a loan because a bank said it was unable to give out loans due to the number of insolvencies and bankruptcies. It was not clear what size of loan or bank was involved.
EU Chamber representatives in the southwest and other parts of China noted some supply chain disruptions but overall less of an impact from Covid on local operations. The chamber noted they did not know what the Covid situation was in rural parts of China.
Citi analysts said Wednesday they see `` considerable impact on consumption, '' but less on production and investment from the omicron wave in March.
`` Although Shanghai and Guangdong province accounted for 7.3% and 23.1% of China's exports and 14.4% and 18.5% of imports in 2021, we think the impact on trade is controllable: Shanghai's half-city lockdown started only from March 28, while Dongguan's and Shenzhen's was completed within one week, '' the analysts said. They expect 4.7% GDP growth in the first quarter, up from a previous forecast of 3.8%.
Last week, a survey of American businesses in China found that 54% of respondents have lowered 2022 revenue projections for the year due to the latest Covid-19 outbreak.
Among manufacturers, more than 80% reported slowed or reduced production, as well as supply chain disruptions. The Beijing-based American Chamber of Commerce in China and its Shanghai counterpart conducted the survey last week.
The longer term impact of Covid on China — especially as Shanghai's lockdown persists — is talent retention, EU Chamber representatives said. They noted how Covid-related travel and quarantine requirements, especially to enter the country, have already discouraged new foreign staff from taking jobs in China.
Shanghai has been a hub for foreign business in the country, partly due to the city's culture and systems — including a large number of international schools and hospitals.
`` Everybody is stunned that this happened to Shanghai. It's not the middle of Hunan. It's Shanghai, '' said Joerg Wuttke, president of the chamber.
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Wuttke estimated the number of foreigners on the mainland has halved since the pandemic began, and could halve again this summer. In all, he expects the total population of Europeans in the country has fallen so sharply they would fit into the Bird's Nest stadium in Beijing.
The stadium has a permanent capacity of about 80,000 seats.
The number of foreigners living in Beijing and Shanghai dropped by 41.5% and 21%, respectively, between official censuses in 2010 and 2020. The overall number of foreigners in the country rose during those ten years by about 40% to 1.4 million people. | business |
Underwater Connectors Market to Hit USD 2.45 Billion by | Pune, India, April 07, 2022 ( GLOBE NEWSWIRE) -- The global underwater connectors market size was valued at USD 1.61 billion in 2020. The market is projected to rise from USD 1.66 billion in 2021 to USD 2.45 billion by 2028 at a 6.01% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “ Underwater Connectors Market, 2021-2028. ”
According to the study, a host of manned and unmanned underwater vehicles has gained traction following the demand for autonomous underwater vehicles and remotely operated vehicles. Manufacturers have exhibited a profound inclination for marine engineering equipment to explore growth potentials in the oil and gas sector.
A potential disruption in the marine sector did not bode well for the industry outlook as investments in the shipbuilding sector observed a dip. Plunge in shipbuilding activities across maritime trade, offshore services, and maritime export challenged companies striving to bolster their portfolios. The UNCTAD projected a 4.1% drop in the global maritime trade in 2020 due to the COVID-19 outbreak. Disruptions in supply chains, ports and shipping networks are likely to compel leading companies to rethink their strategies.
https: //www.fortunebusinessinsights.com/enquiry/request-sample-pdf/underwater-connectors-market-106577
In terms of type, the market is segmented into electrical mateable, rigid shell, rubber molded, and inductive coupling.
Based on application, the market is segregated into unmanned underwater vehicle, defense, oil & gas, oceanography, and telecommunication.
With respect to connection, the market is fragmented into hybrid, optical fiber, and electrical.
On the basis of geography, the market includes North America, Asia Pacific, Europe, and the Rest of the World.
The report includes quantitative and qualitative analysis to provide a holistic view of the global market. The report also deep-dives into top-down and bottom-up approaches to provide a strategic approach on product mapping of new entrants and leading players. Primary sources, such as interviews with major stakeholders and opinion leaders, will validate the report’ s authenticity. The report includes secondary sources, including annual reports, press releases, SEC filings and website reports to bolster the authenticity of the report.
https: //www.fortunebusinessinsights.com/underwater-connectors-market-106577
Industry players are likely to witness an exponential demand for autonomous underwater vehicles for ocean current profile with tides, sub-bottom profiling, optical imagery, and salinity profiles. Considering the demand for AUV systems to collate information, the underwater connectors market share is likely to gain traction. Prominently, in October 2021, India’ s National Institute of Ocean Technology rolled out a deep-sea exploration mission to develop, test, and manufacture underwater deep-sea exploration vessels. Moreover, advancements in the subsurface fleet and development of submarines could add fillip to industry growth. Notably, the U.S. Navy has upped efforts to foster unmanned underwater capabilities.
However, soaring installation and maintenance costs could dent the penetration of underwater connectors.
Stakeholders envisage the U.S. as a lucrative investment hub in the wake of the trend for modernization of the submarine fleet. For instance, the U.S. Navy spurred the submarine portfolio through the expansion of the naval sector. The North America market outlook will be strong during the forecast period on the back of expansion of defense and unmanned underwater vehicle applications.
The Asia Pacific underwater connectors market growth will be pronounced in the wake of soaring expenditure in mining, deep-sea exploration, oil & gas, and defense sectors. Stakeholders expect India, China, Australia, and Japan to lead from the front following the technological advancements and integration of unmanned underwater vehicles.
Underwater connectors will be sought-after across Europe, owing to the presence of prominent OEMs, including Fischer Connectors S.A., Eaton, and TE Connectivity. Notably, the trend for electrical mateable and inductive coupling will further the demand for connectors across end-use applications.
https: //www.fortunebusinessinsights.com/enquiry/queries/underwater-connectors-market-106577
https: //www.fortunebusinessinsights.com/enquiry/speak-to-analyst/underwater-connectors-market-106577
Leading companies are likely to emphasize strategic approaches, including product launches, mergers & acquisitions, R & D activities, and technological advancements. Current trends suggest key players could invest in strategic expansion during the forecast period.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. | general |
Stocks Set for Steady Open; Treasury Curve Steeper: Markets Wrap | The information you requested is not available at this time, please check back again soon.
A commuter checks his phone while riding a subway in Shanghai, China, on Friday, Oct. 9, 2020. China’ s yuan strengthened and stocks rose on mainland exchanges in a positive start to the month for traders returning to work after an eight-day holiday., Bloomberg
( Bloomberg) -- Stocks in Asia looked set for a muted start Friday as investors digest the Federal Reserve’ s plan for aggressive policy tightening and monitor the economic fallout of China’ s Covid lockdowns.
Futures rose for Australia and Japan but dipped for Hong Kong. U.S. contracts fluctuated following modest Wall Street gains Thursday. Global shares are on course for their worst week in four, hurt by the risk of an economic downturn as the Fed tackles high inflation.
Longer-maturity Treasuries fell while the two-year note climbed. The yield curve has steepened in the wake of the Fed minutes on Wednesday, which showed officials are intent on quelling price pressures and outlined plans to pare the central bank’ s balance sheet by more than $ 1 trillion a year.
A dollar gauge advanced for a sixth day, its longest winning streak since the middle of 2021. Oil mostly held recent losses, squeezed by plans to release millions of barrels of crude from strategic reserves.
The prospect of sharp Fed rate hikes alongside a reduction in its bond holdings, Russia’ s grinding war in Ukraine and China’ s Covid outbreak are all restraining investor sentiment.
“ Stocks have had a little bit of a harder time this week digesting the fact that interest rates are going to be higher ” amid a major shift in expectations around monetary policy, Anthony Saglimbene, global market strategist at Ameriprise Financial Inc., said on Bloomberg Television.
Federal Reserve Bank of St. Louis President James Bullard said he prefers boosting the policy rate to 3% to 3.25% in the second half of 2022. Chicago Fed President Charles Evans and his Atlanta counterpart Raphael Bostic said they favor raising rates to neutral while still monitoring how the economy performs as they proceed.
Data Thursday showed applications for U.S. state unemployment insurance fell last week by more than forecast, backing the Fed’ s contention that the economy is strong enough to withstand rate increases.
Meanwhile, NATO and U.S. officials warned the war in Ukraine may last for weeks or even years. European Union countries agreed to ban coal imports from Russia, the first time the bloc’ s sanctions have targeted Moscow’ s crucial energy revenues. Congress voted to strip Russia of its normal trade status with the U.S. and ban imports of its gas, oil and coal.
Here are nine things you need to know about Budget 2022.
The federal government is taking sharper aim at real estate investors and property flippers in a bid to help halt the country’ s long-standing – and worsening – housing affordability problem.
The Liberal government is scaling back its strategy to single out Canada's most profitable banks and insurers with targeted tax measures, resulting in about $ 4 billion less in revenue than originally planned. | general |
U.K. House Prices Post Biggest Jump in Six Months, Halifax Says | The information you requested is not available at this time, please check back again soon.
Pedestrians look in the window of an estate agents in the Crystal Palace area in London, U.K., on Tuesday, Feb. 1, 2022. U.K. house prices registered their strongest start to the year since 2005 but the property market is set for a slowdown as the cost of living crisis intensifies, according to Nationwide Building Society., Bloomberg
U.K. house prices jumped at the fastest pace in six months in March as the property market continued to defy the cost of living crisis tightening its grip on household budgets.
The average value of a home rose 1.4% to a record 282,753 pounds ( $ 369,925), mortgage lender Halifax said Thursday. The ninth straight monthly gain left prices 11% higher than a year ago, close to the fastest annual increase since 2007.
The surge means prices in the U.K. are now 18%, or 43,577 pounds, higher than they were at the time of the first Covid lockdown two years ago. While most economists expect prices to moderate as inflation surges and real incomes fall this year, the market is yet to show any signs of that slowdown.
“ The story behind such strong house price inflation remains unchanged: limited supply and strong demand, despite the prospect of increasing pressure on households’ finances, ” said Russell Galley, managing director at Halifax. “ Although there is some recent evidence of more homes coming onto the market, the fundamental issue remains that too many buyers are chasing too few properties. ”
In the past year, the 28,113-pound increase in prices has almost matched the U.K.’ s average salary, Halifax said. The South West has posted the biggest gains in prices in the period, the first time since January 2021 that Wales hasn’ t held the top spot.
The federal government is planning to unveil a significant crackdown on foreign homebuyers as part of Thursday’ s federal budget, CTV National News Ottawa Bureau Chief Joyce Napier reported Wednesday afternoon.
Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’ s on its own in tackling inflation when she introduces a budget Thursday that’ s expected to be full of new spending initiatives.
The U.S. Fed signaled it will reduce its massive bond holdings at a maximum pace of US $ 95 billion a month, further tightening credit across the economy as the central bank raises interest rates to cool inflation
Bay Street could be about to learn its fate in Canada’ s halls of power. | general |
China Covid spike: Smartphone sales could drop in Q2, analysts say | China's recent surge in Covid cases threatens to hurt sales of handsets in the world's largest smartphone market if it's not contained, but U.S. giant Apple could still hold up well, analysts told CNBC.
On Wednesday, China reported more than 20,000 Covid infections with the majority in the mega city of Shanghai. Authorities there have imposed strict lockdown measures in the city, threatening logistics and consumer spending.
Neil Mawston, executive director at Strategy Analytics, forecasts a 20% year-on-year decline in the second quarter for smartphone shipments.
Neil Shah, partner at Counterpoint Research told CNBC smartphone sales for April and May could fall 12% to 13% year-on-year.
Sales could pick up in June due to a huge discount shopping event and as Covid subsides. That could leave smartphone sales in China down 3% to 4%, Shah said. If the Covid situation continues, however, the market could drop as low as 12% year-on-year, he added.
Smartphone shipments could fall around 3.4% year-on-year in the second quarter, predicted Will Wong, research manager at IDC.
`` The impact is expected to be mainly coming from the soft consumer demand and sentiment caused by the Covid outbreak and slower economic momentum, '' Wong told CNBC. `` The supply disruptions will be a less disturbing factor as the factory bubbles and the government's experience in curbing the outbreak could help to mitigate the impact. ''
In March, Apple iPhone assembler Foxconn briefly had to close one of its main factories in Shenzhen due to Covid. During Covid outbreaks, China has attempted to keep factories up and running as much as possible to reduce disruption.
China's smartphone shipment decline in the second quarter will be `` mainly due to the weaker momentum of the Android market, '' IDC's Wong said.
Android is Google's smartphone operating system. Chinese brands run a modified version of these. Android phone vendors include Chinese smartphone makers like Xiaomi, Oppo and Vivo.
`` The Android segment in China remains a brutal marketplace, with half-a-dozen brands ( like Xiaomi) fighting fiercely on price for a piece of a shrinking Android pie, '' Strategy Analytics ' Mawston said.
However, Apple could fare quite well. Shah said that Apple could see a decline of around 4% to 5% in shipments in the second quarter, but that is partly seasonal as the effect of brand new product releases wears off. Apple released its newest products toward the end of last year.
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Apple continues to take advantage of the decline of Huawei in the premium end of the market, according to both Shah and Wong. Huawei's smartphone business has been crippled due to U.S. sanctions cutting off the tech giant from key components like cutting-edge chips.
Wong said Apple could actually see positive growth in the second quarter `` amid the decline of Huawei and the lack of strong high-end competitors. ''
Mawston said he expects Apple to actually grow its overall market share in China in 2022 `` as its loyal, affluent fans upgrade to new or more affordable 5G models. ''
5G refers to next-generation mobile internet which promises super-fast speeds. Apple launched the 2022 version of the cheaper iPhone SE in March which offers 5G. | business |
Worldwide $ 35+ Mn Smart Lock Market is Expected to Grow at | WASHINGTON, April 07, 2022 ( GLOBE NEWSWIRE) -- Vantage Market Research’ s recent analysis of the Global Smart Lock Market finds that the increase in integration of IoT-based security is expediting market growth. Primarily driven by rising internet penetration, the total Global Smart Lock Market is estimated to reach USD 3,639.5 Million by 2028.
The Global Market valued at a revenue of USD 1,863.8 Million in the year 2021, and is expected to grow exhibiting a Compound Annual Growth Rate ( CAGR) of 11.8%.
Furthermore, the growing security concerns across the globe are also anticipated to augment the growth of the Global Smart Lock Market, states Vantage Market Research, in a report, titled “ Smart Lock Market Size, Share & Trends Analysis Report by Lock Type ( Deadbolt Locks, Lever Handles, Server locks & Latches, Knob Locks), by Communication Protocol ( Bluetooth, WiFi, Z-Wave, Others), by Unlocking Mechanism ( Keypad, Card Key, Touch Based, Key Fob), by Vertical ( Commercial, Residential, Institutional & Government, Industrial), by Region ( North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment ( 2016 - 2021) & Forecast ( 2022 - 2028) ”.
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The increasing integration of IoT-based security is expected to fuel the growth of the Smart Lock Market during the forecast period. Smart locks with IoT-enabled sensors allow users to access doors remotely, with the use of a smartphone or other internet-connected devices. Smart locks offer the ability to unlock the door without a key, from anywhere, as well as distribute virtual keys to visitors. Smart locks offer additional functionality such as automating processes, which include turning on the lights and adjusting thermostat when the door is unlocked, triggering the security system to record and send video if the door is unlocked from outside. This is done through its compatibility with other IoT devices, smart assistants, or smart home management systems. Additionally, it can also give and revoke remote access to visitors, by enabling the service providers to access the door only at specific times and can give unlimited access to important family members or friends. Thus, the various benefits offered with integration of IoT-based security are expected to support the growth of the market in near future.
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The increase in internet penetration along with smartphone adoption is anticipated to augment the growth of the Smart Lock Market within the estimated period. According to a report by GSMA, the number of mobile internet subscribers was projected to be 4.2 billion people globally in 2021 and is expected to reach 5.0 billion by 2025 at a Compound Annual Growth Rate ( CAGR) of 4.5%. Further, it estimated that the global coverage continues to grow, with 94% of the world’ s population covered by mobile broadband networks and the biggest increases in coverage were estimated to be in Sub-Saharan Africa and the Pacific Islands. This has further resulted in increase in adoption of smart lock as all the applications used for controlling these locks are installed on these devices and need continuous internet connectivity for real-time updates. Additionally, the market players are focussing on implementing innovative techniques in smart lock models, such as Wi-Fi-enabled locking/unlocking or Bluetooth-based ( BLE) locking/unlocking using smartphones and other devices which is also likely to fuel the demand for smart locks in the years to come.
Read Full Research Report @ https: //www.vantagemarketresearch.com/industry-report/smart-lock-market-1440
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronic industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
North America has dominated the Global Smart Lock Market in 2021 and is likely to continue the same trend during the forecast period. The US dominated the North America region in 2021. This is attributable to the high technology adoption and rising penetration of smart homes in the region. Furthermore, the high spending capacity of customers along with growing security concerns is also anticipated to encourage the adoption of smart locks.
Asia Pacific is expected to grow at a fastest CAGR during the forecast period. This is attributable to the rising number of residential and commercial projects in economies such as China and India owing to the growing population in the region. Additionally, the increase in penetration of smart homes as well as on-going smart city initiatives in developing countries is also expected to support the regional growth of the market in near future.
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Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on `` Smart Lock Market Size, Share & Trends Analysis Report by Lock Type ( Deadbolt Locks, Lever Handles, Server locks & Latches, Knob Locks), by Communication Protocol ( Bluetooth, Wi-Fi, Z-Wave, Others), by Unlocking Mechanism ( Keypad, Card Key, Touch Based, Key Fob), by Vertical ( Commercial, Residential, Institutional & Government, Industrial), by Region ( North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment ( 2016 - 2021) & Forecast ( 2022 - 2028) '' View detailed Research Report here – https: //www.vantagemarketresearch.com/press-release/smart-lock-market-961586
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The report can be customized as per client needs or requirements. For any queries, you can contact us on sales @ vantagemarketresearch.com or +1 ( 202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’ s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.
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Sunshine Biopharma's Stock Scorches with Promising mRNA Molecules for Cancer | Sunshine Biopharma, Inc announced this week that its novel-formulation mRNA molecules induce cancer cell death in cell cultures.
Explosions in mRNA research have led to groundbreaking discoveries in recent years, with many companies banking on the potential seen in clinical spaces. As a result of the announcement, shares of the company’ s stock bounded upwards to the top of trending charts, possibly a reflection of investor interest in mRNA.
Cell cultures using multidrug-resistant breast cancer cells, pancreatic cancer cells and ovarian adenocarcinoma were used to demonstrate the efficacy of the mRNA molecules.
Routine toxicity studies using typical human cells suggest that the mRNA molecules have minimal if no toxic effects. The molecules have the potential to be administered as simply as vaccines are.
The specific formulation used by Sunshine Biopharma is expected to soon reach the patent office. Commenting on the multiple promising candidates, Sunshine Biopharma CEO Dr. Steve Slilaty said, “ We are delighted by these findings in connection with our ongoing mRNA-as-therapeutic-agents research… The potential use of mRNA to treat cancer opens the door to many possibilities for patients including convenience, reduced toxicity and enhanced efficacy. ”
Sunshine Biopharma is gaining traction across the pharmaceutical industry as it announces one promising biologic candidate after another. Areas of interest to the company span antiviral research as well as oncology treatments, using some of the most novel formulation techniques. Earlier this year, the company issued a statement regarding the closing of an $ 8 million placement with investors.
The next step for Sunshine Biopharma is to continue research into other developing therapeutic candidates, such as COVID-19 treatment. To combat the causative agent of the virus that offset the pandemic, Sunshine researchers have developed four potential inhibitors of papain-like protease ( PLpro). The PLpro enzyme has been identified as an alternative target to the notorious spike protein, due to the role PLpro plays to encode virus’ non-structural protein 3 ( nsp3). Preclinical mouse studies at the University of Georgia began in the summer of 2021 for two of these four inhibitors. The treatment has demonstrated efficacy against all variants known to date.
In a collaboration with the University of Arizona, the company hopes to dig deeper into research regarding PLpro inhibitors. The collaboration would explore the safety of PLpro in in vivo, pharmacokinetics and dosing studies, before entering preclinical realms involving MA10 mice that have been infected with the SARS-CoV-2 causation agent for COVID-19. | general |
NetHope COVID-19 Member Interventions | NetHope and its member organizations are monitoring the impact COVID-19 is having on our collective work. As our valued membership innovate and develop solutions to overcome challenges faced by COVID-19, we encourage a shared awareness so we can all learn from each other in this time of need. Learn how you can create a new Intervention Listing and please email us should you have any questions regarding the level of detail which will most accurately describe your initiative ( s).
Help NetHope fight poverty and inequality, and respond to pressing emergencies by making a tax-deductible gift today or by contributing ideas or content to share with others on the Solutions Center.
© 2001 - 2022 NetHope Inc. NetHope is a registered 501 ( c) 3 nonprofit organization. | general |
Kintor’ s antiviral shows protection in mild-to-moderate COVID-19 | Kintor Pharmaceutical, based in Suzhou, China, has announced top-line results from its Phase III MRCT trial of proxalutamide in outpatients with mild-to-moderate COVID-19. The study evaluated the patients regardless of vaccination status or risk factors.
The data show that the drug offered a protection rate of 100% against COVID-19. It reduced hospitalisation or death in COVID-19 patients, particularly in the middle-aged and elderly with high-risk factors.
Proxalutamide is an ACE2 and TMPRSS2 inhibitor. ACE2 is the primary receptor on human cells that allows the SARS-CoV-2 virus to latch on and enter the cell. The virus uses TMPRSS2 for S protein priming, meaning that it activates the virus’ s S protein. Inhibiting both of these protein receptors stalls the virus’ s ability to enter and infect cells.
By promoting the clearance of the virus, it decreases inflammation by activating the Nrf2 pathway, which prevents overproduction of IL-6, proinflammatory cytokines and chemokines.
“ The topline data of this pivotal study demonstrates the clinical efficacy of proxalutamide in the mostly U.S. COVID-19 population with a significant reduction of hospitalization and death rate in patients, ” stated Dr Tong Youzhi, founder, chairman and CEO of Kintor.
“ It is important to note that proxalutamide has showed COVID-19 viral load reduction against both Delta and Omicron variants, which is important as new variants continue to arise. The continued increase in COVID-19 cases serves as a reminder that the world urgently needs effective and safe oral drugs with different mechanisms of action. ” | tech |
The Worldwide Mobile Battery Industry is Expected to Reach | Dublin, April 07, 2022 ( GLOBE NEWSWIRE) -- The `` Mobile Battery Market by Type, Application and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030 '' report has been added to ResearchAndMarkets.com's offering. The global mobile battery market size was valued at $ 21.2 billion in 2020, and is expected to reach $ 38.6 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030.Mobile battery is the type of battery that is rechargeable with high energy density and is used in smartphones and non-smartphones. Lithium-ion battery is the most widely used battery type in the mobile applications owing to its competitive advantages over other conventional batteries such as high energy density, lighter weight, fast charging and others. Batteries used in daily consumer electronics devices need to balance properties such as specific energy, energy density, low device weight, operating temperature, and others, for the proper working/operation of mobile batteries.The mobile battery market is driven by rise in demand for mobile devices such as smartphones, featured phones across the globe. In addition, rise in demand for longer battery life owing to utilization of various applications such as weather forecasting, video & audio players, gaming and other social media applications is another key factor fueling the demand for mobile batteries which in turn is anticipated to drive the growth of the market during the forecast period. However, high cost and potential risk hazards associated with mobile batteries are the key factors expected to hamper the growth of the global mobile battery market during the forecast period.The global mobile battery market is segmented on the basis of type, application, sales channel, and region. Depending on type, the market is categorized into lithium-ion battery, nickel based and others. On the basis of application, it is bifurcated into smartphones and non-smartphones. By sales channel, it is divided into online and offline. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Key Benefits
Key Topics Covered: CHAPTER 1: INTRODUCTIONCHAPTER 2: EXECUTIVE SUMMARYCHAPTER 3: -MARKET OVERVIEW3.1. Market definition and scope3.2. Key forces shaping the market3.3. Value chain analysis3.4. Top investment pockets3.5. Patent analysis3.5.1. By region, 2013-20203.6. Market dynamics3.6.1. Drivers3.6.1.1. Surge in demand for smartphones, tablets, and other electronic devices3.6.2. Restraint3.6.2.1. High cost and potential risks hazards associated with lithium-ion battery3.6.3. Opportunity3.6.3.1. Higher energy efficiency requirements in technologically updated consumer gadgets3.7. Impact of government regulations on the market3.8. Impact of COVID-19 outbreak on the marketCHAPTER 4: MOBILE BATTERY MARKET, BY TYPE4.1. Overview4.1.1. Market size and forecast4.2. Lithium-ion battery4.2.1. Key market trends, growth factors, and opportunities4.2.2. Market size and forecast, by region4.2.3. Market size and forecast4.2.4. Lithium iron-phosphate4.2.5. Lithium Manganese Oxide4.2.6. Lithium-titanate-oxide ( LTO) 4.2.7. Others4.2.8. Market share analysis, by country4.3. Nickel-based battery4.3.1. Key market trends, growth factors, and opportunities4.3.2. Market size and forecast, by region4.3.3. Market size and forecast4.3.4. Nickel Cadmium4.3.5. Nickel Metal Hydride4.3.6. Market share analysis, by country4.4. Others4.4.1. Key market trends, growth factors, and opportunities4.4.2. Market size and forecast, by region4.4.3. Market share analysis, by countryCHAPTER 5: MOBILE BATTERY MARKET, BY APPLICATION5.1. Overview5.1.1. Market size and forecast5.2. Smartphones5.2.1. Key market trends, growth factors, and opportunities5.2.2. Market size and forecast, by region5.2.3. Market share analysis, by country5.3. Non-smartphones5.3.1. Key market trends, growth factors, and opportunities5.3.2. Market size and forecast, by region5.3.3. Market share analysis, by countryCHAPTER 6: MOBILE BATTERY MARKET, BY SALES CHANNEL6.1. Overview6.1.1. Market size and forecast6.2. Online6.2.1. Key market trends, growth factors, and opportunities6.2.2. Market size and forecast, by region6.2.3. Market share analysis, by country6.3. Offline6.3.1. Key market trends, growth factors, and opportunities6.3.2. Market size and forecast, by region6.3.3. Market share analysis, by countryCHAPTER 7: MOBILE BATTERY MARKET, BY REGIONCHAPTER 8: COMPETITIVE LANDSCAPE8.1. Introduction8.1.1. Market Player Positioning, 20208.2. Top winning strategies8.3. Product Mapping of Top 10 Player8.4. Competitive Heatmap8.5. Key developments8.5.1. Key acquisitions and agreementCHAPTER 9: COMPANY PROFILES9.1. AMPEREX TECHNOLOGY LIMITED9.1.1. Company overview9.1.2. Company snapshot9.1.3. Product portfolio9.1.4. Key strategic moves and developments9.1.5. Amperex Technology Limited - SWOT Analysis9.2. LG CORPORATION9.2.1. Company overview9.2.2. Company Snapshot9.2.3. Product portfolio9.2.4. Business performance9.2.5. LG Corporation - SWOT Analysis9.3. MAXELL, LTD.9.3.1. Company overview9.3.2. Company snapshot9.3.3. Operating business segments9.3.4. Product portfolio9.3.5. Business performance9.3.6. Maxell, Ltd. - SWOT Analysis9.4. MURATA MANUFACTURING CO., LTD.9.4.1. Company overview9.4.2. Company snapshot9.4.3. Operating business segments9.4.4. Product portfolio9.4.5. Business performance9.4.6. Key strategic moves and developments9.4.7. Murata Manufacturing Co., Ltd. - SWOT Analysis9.5. PANASONIC CORPORATION9.5.1. Company overview9.5.2. Company snapshot9.5.3. Operating business segments9.5.4. Product portfolio9.5.5. Business performance9.5.6. Panasonic Corporation - SWOT Analysis9.6. SAMSUNG SDI CO., LTD.9.6.1. Company overview9.6.2. Company snapshot9.6.3. Operating business segments9.6.4. Product portfolio9.6.5. Business performance9.6.6. Samsung SDI Co., Ltd. - SWOT Analysis9.7. SUNWODA ELECTRONIC CO., LTD.9.7.1. Company overview9.7.2. Company snapshot9.7.3. Product portfolio9.7.4. Sunwoda Electronic Co., Ltd. - SWOT Analysis9.8. TIANJIN LISHEN BATTERY JOINT-STOCK CO., LTD.9.8.1. Company overview9.8.2. Company snapshot9.8.3. Product portfolio9.8.4. TianJin Lishen Battery Joint-Stock Co., Ltd. - SWOT Analysis9.9. TWS9.9.1. Company overview9.9.2. Company Snapshot9.9.3. Product portfolio9.9.4. TWS - SWOT Analysis9.10. ZHUHAI COSMX BATTERY CO., LTD.9.10.1. Company overview9.10.2. Company snapshot9.10.3. Product portfolio9.10.4. Zhuhai CosMX Battery Co., Ltd. - SWOT Analysis
For more information about this report visit https: //www.researchandmarkets.com/r/6iwgfi | general |
Bahrain-Victorious terminate rider's contract after Covid rule breaches | Bahrain-Victorious have terminated the contract of one of their riders, Alejandro Osorio, for `` multiple contract breaches ''.
The Colombian had only joined the WorldTour team at the beginning of this year, and raced just eight times.
The team posted on Twitter ( opens in new tab): `` Bahrain Victorious have terminated their agreement with Alejandro Osorio following multiple contract breaches. The team wishes Alejandro the best for his future. ''
The squad's manager, Milan Erzen told VeloNews ( opens in new tab) that it was connected to Covid policies, explaining that he put the team in `` difficult situations '' by going outside the Covid bubble.
Speaking to Telemedellín ( opens in new tab) at the Clásica de Rionegro this week, Osorio said he `` didn't feel welcome '' at the team. He joined from Caja Rural in the off-season, and his contract was officially ended last week after the appropriate forms were sent to the cycling's governing body, the UCI.
`` I prepared really well, trained well, but the truth is I didn't feel welcome, '' the 23-year-old said. I see a team as a family, but it was work, work, work, I didn't feel support and that's how the problems started. ''
Ezren said that there were `` some things you can't accept '' and Osorio had gone too far after warnings had been made.
“ He can come out with his explanation and if he wants to talk he can explain, ” he said.
“ It’ s not one thing but from the beginning, he made many wrong things and we can’ t accept that. He put riders and staff in difficult situations. Especially about COVID and everything. ”
“ The letter went to the UCI one week and that’ s it. Some things you can’ t accept. We have 100 people on our team and the rules are for everyone. We gave him one warning after a couple of things but he made them again.
`` So we decided to terminate the contract. It’ s more than during the races; he went outside the COVID bubble. We have all the documents. ”
His last race for Bahrain-Victorious was Strade Bianche last month. | general |
In Early Mediation, Negotiate With Empathy, Not Threats | On March 30, Los Angeles Superior Court Presiding Judge Eric Taylor announced an expansion of an early resolution employment case pilot program.The program encourages resolution of employment cases through early virtual mandatory settlement conferences. Other courts have similarly encouraged early settlement conferences and mediations to relieve their crowded dockets of their COVID-19 backlog.These early settlement conferences, mediations and negotiations will require a different mindset. Quite commonly, we negotiate with hard bargaining threats and disrespect for the opposition, only focusing on how our side is right and will win at trial or arbitration.Our threats are intended to make the... | general |
Thailand Mulls Easing Covid Test Rules for Vaccinated Visitors | The information you requested is not available at this time, please check back again soon.
Travelers wait in line to check-in at an AirAsia Bhd. check-in counter at the U-Tapao International Airport in Ban Chang district, Rayong Province, Thailand, on Tuesday, Sept. 4, 2018. Thailand expects to select a consortium by January to build a 225 billion baht ( $ 6.9 billion) high-speed rail link connecting three international airports, one of the largest transport projects in its history., Bloomberg
( Bloomberg) -- Thailand will consider scrapping a mandatory polymerase chain reaction test on arrival for foreign visitors as the Southeast Asian nation further relaxes its visa rules to attract tourists.
The Health Ministry will propose replacing the RT-PCR tests with a rapid antigen test, Deputy Prime Minister Anutin Charnvirakul told reporters on Thursday. The Center for Covid-19 Situation Administration, led by Prime Minister Prayuth Chan-Ocha, will consider the relaxation at a meeting on Friday, he said.
Visitors to Thailand currently need to pre-book a RT-PCR test along with a one-night hotel accommodation to secure a visa. Hotel operators say the rules are a major dampener for travelers to the country.
Thailand was among the first tourism-reliant nations to end quarantine requirements for inoculated visitors and this month waived a pre-travel Covid test mandate, but arrival numbers have failed to meet expectations. Thai Hotels Association and the Federation of Thai Industries want the government to end the so-called Test & Go visa program to stimulate the economy.
Prayuth’ s government may further ease Covid restrictions if the annual Songkran holidays to mark the Thai New Year don’ t trigger a spike in new cases, Anutin said. New daily infections may jump to 50,000-60,000 as people travel and hold family gatherings starting next week, the Health Ministry warned earlier this week.
Thailand reported 26,081 new Covid infections and 91 deaths on Thursday, official data showed. While the active cases totaled almost 250,000, hospital bed occupancy was only about 28%, the government said.
Thailand has stepped up a campaign to provide booster shots to the elderly and other vulnerable groups with the majority of the deaths during the current omicron-fueled wave reported among the unvaccinated groups. While the country has prepared a road-map to classify the pandemic as endemic, the progress toward it would be contingent on first quelling the outbreak, Prayuth has said.
The federal government is planning to unveil a significant crackdown on foreign homebuyers as part of Thursday’ s federal budget, CTV National News Ottawa Bureau Chief Joyce Napier reported Wednesday afternoon.
Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’ s on its own in tackling inflation when she introduces a budget Thursday that’ s expected to be full of new spending initiatives.
The U.S. Fed signaled it will reduce its massive bond holdings at a maximum pace of US $ 95 billion a month, further tightening credit across the economy as the central bank raises interest rates to cool inflation
Bay Street could be about to learn its fate in Canada’ s halls of power. | general |
China stocks fall as COVID worries outweigh stimulus promises | - China stocks fell on Thursday as the country's worst coronavirus outbreak since the initial wave in 2020 clouded economic growth outlook, despite pledges by authorities to roll out more policy support.
The CSI300 index fell 0.9% to 4,225.95 by the end of the morning session, while the Shanghai Composite Index lost 1% to 3,251.06.
The Hang Seng index dropped 1.3% to 21,791.30. The Hong Kong China Enterprises Index lost 1.5% to 7,497.38.
* * China will establish a financial stability protection fund to beef up its ability to cope with major financial risks, and set up a comprehensive cross-agency mechanism for risk detection and disposal, the central bank said on Wednesday.
* * Meanwhile, Chinese state media quoted the cabinet as saying it would roll out policies to stabilise market expectations in a timely way, without giving details.
* * `` Worries over the downside trend of the economy are the main factor weighing down the market. Meanwhile, the resurgence of COVID-19 outbreaks slowed the pace of economic recovery, '' said Lang Pincheng, general manager of research department at Fortune & Royal Asset.
* * `` With an increasingly large number of cities under lockdown and amid the downward spiral in the property sector, the impact of incoming monetary easing might be quite limited, '' Nomura analysts said in a note.
* * `` We expect only one 10bp rate cut to each of the one-year MLF, one-year and five-year LPR, and seven-day reverse repo before end-2022. ''
* * Real estate developers slumped 2.1% and tourism stocks lost 1.9%, according to data from China Securities Index. Healthcare shares retreated 2.2%.
* * Mainland China reported 1,323 new confirmed coronavirus cases and 21,784 new asymptomatic cases on April 6.
* * Also denting sentiment, minutes of the Fed's March 15-16 meeting released on Wednesday showed deepening concern among policymakers that inflation had broadened through the economy.
* * Tech giants listed in Hong Kong lost 2.1%, with e-commerce giant Alibaba Group down 2%. Food delivery firm Meituan was up 0.5% after surging as much as 7.2% in early morning trade. ( Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu) | business |
Bearish bets on Asian FX ease as central banks tilt towards rate hikes | Long positions on the Chinese yuan firmed despite increasing vulnerability from COVID-19 lockdowns, divergence in global and domestic monetary policy cycle, narrowing yield differentials, and headwinds from the Russia-Ukraine conflict.
Maybank analysts say strong fundamentals -- a solid trade surplus, potential for more monetary accommodation and capacity to boost infrastructure investment to support growth has investors still betting long on the yuan.
Traders polled by Reuters have been consistently bullish on the yuan since late October last year, while some analysts expect the currency, which has depreciated 0.8% since March, to remain within a 6.35 and 6.40 per dollar range in the near term.
Elsewhere, bets turned bullish on the Singapore dollar for the first time since late February, while bearish positions on the Indian rupee, Philippine peso and the Thai baht eased marginally, a fortnightly poll of 14 respondents found.
`` In Emerging Asia, the tide of improving economic conditions and rising inflationary pressures continues to tilt more central banks towards monetary policy normalisation, '' Barclays analysts said, expecting the Malaysian central bank to begin hiking rates soon.
The Philippine peso, which has appreciated nearly 2% since mid-March, has seen the sharpest drop in its bearish bets as the central bank looked ready to take pre-emptive action to combat rising inflation.
Short bets on the Indian rupee were at its lowest since Feb. 24. The Reserve Bank of India ( RBI) on Friday is expected to hold its key interest rates, a separate poll by Reuters showed, even as inflation held above the central bank's upper end of the forecast range.
The Indian central bank is seen holding until at least August to hike rates, in line with regional peers but placing it well behind major central banks like the U.S. Federal Reserve and the Bank of England in tackling inflation.
In Singapore, the central bank is likely to tighten its policy setting next week - the third time in a row - to tackle inflationary pressures.
Elsewhere, bets on the Indonesian rupiah turned marginally long for the first time since late February, while short position on the Malaysian ringgit solidified to its highest since mid-December on weak growth outlook.
The Asian currency positioning poll is focused on what analysts and fund managers believe are the current market positions in nine Asian emerging market currencies: the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, Taiwan dollar, Indian rupee, Philippine peso, Malaysian ringgit and the Thai baht.
The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. A score of plus 3 indicates the market is significantly long U.S. dollars.
The figures include positions held through non-deliverable forwards ( NDFs).
The survey findings are provided below ( positions in U.S. dollar versus each currency):
DATE USD/CNY USD/KRW USD/SGD USD/IDR USD/TWD USD/INR USD/MYR USD/PHP USD/THB
07-Apr-22 -0.41 0.99 -0.46 -0.05 0.81 0.63 0.32 0.53 0.31
24-Mar-22 -0.16 0.98 0.19 0.04 1.16 0.99 0.12 1.4 0.46
09-Mar-22 -0.85 1.22 0.8 0.49 0.97 1.1 0.05 0.89 -0.08
24-Feb-22 -0.99 0.39 -0.77 -0.01 0.33 0.07 0.2 0.19 -1.07
10-Feb-22 -0.99 0.85 -0.98 0.46 -0.18 0.32 0.1 0.74 -0.31
27-Jan-22 -1.29 0.89 -0.67 0.12 -0.17 0.18 0.25 0.82 0
13-Jan-22 -0.73 0.97 0.22 0.2 -0.15 -0.29 0.28 0.71 0.61
16-Dec-21 -1.07 0.53 0.67 0.54 0.09 1.07 0.84 0.2 0.36
02-Dec-21 -0.88 1.06 0.58 0.15 0 0.47 0.28 0.26 0.71
18-Nov-21 -0.87 0.48 0.07 -0.72 -0.15 0.08 -0.04 0.24 0.12
( Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)
By Sameer Manekar | business |
Meta removes Facebook accounts to tackle misinformation ahead of Philippines polls | The accounts included Facebook Pages and groups linked to Philippines ' New People's Army, a banned organization, the social media company said.
Concerns about online hate speech have increased as candidates and supporters increasingly turn to social media for the May 9 election against the backdrop of the coronavirus pandemic disrupting traditional campaign methods.
Last month, the country's presidential candidates had pressed on the need to hold social media companies liable for the spread of misinformation.
Meta said in a blog post on Wednesday that advertisers in the Philippines will have to complete its ad authorizations process and include 'Paid for by ' disclaimers on ads about elections, politics and certain categories of social issues.
The move by Meta comes after it last month changed its stance in Ukraine that temporarily allowed calls for violence and narrowed its content moderation policy to prohibit calls for the death of a head of state.
( Reporting by Akriti Sharma in Bengaluru; Editing by Arun Koyyur) | business |
Team develops a universal AI algorithm for in-depth cleaning of single cell genomic data | Just as asking a single person about their health will provide tailored, personalized information impossible to glean from a large poll, an individual cell's genome or transcriptome can provide much more information about their place in living systems than sequencing a whole batch of cells. But until recent years, the technology didn't exist to get that high resolution genomic data—and until today, there wasn't a reliable way to ensure the high quality and usefulness of that data.
Researchers from the University of North Carolina at Charlotte, led by Dr. Weijun Luo and Dr. Cory Brouwer, have developed an artificial intelligence algorithm to `` clean '' noisy single-cell RNA sequencing ( scRNA-Seq) data. The study, `` A Universal Deep Neural Network for In-Depth Cleaning of Single-Cell RNA-Seq Data, '' was published in Nature Communications on April 7, 2022.
From identifying the specific genes associated with sickle cell anemia and breast cancer to creating the mRNA vaccines in the ongoing COVID-19 pandemic, scientists have been searching genomes to unlock the secrets of life since the Human Genome Project of the 1990s. Technology has leaped from those early days of batching thousands of cells together to decrypt the millions of base pairs that make up genetic information, and in 2009 researchers created scRNA-Seq, now used widely in biomedical research, which only sequences the transcriptome or the expressed portion of genome in a single cell of a living organism.
Unfortunately, scRNA-Seq data is very noisy and has plenty of errors and quality issues. Sequencing a single cell rather than many cells results in frequent `` dropouts '' —missing genes in the data. A single cell, like a single person, may have its own health issues or be at an awkward stage in its life cycle—it may have just divided, or be on its way to cell death, which can create more errors or technical variations in the scRNA-Seq data. Besides the single-cell specific problems, genomic profiling usually comes with `` normal '' issues of sequencing errors. All these errors need to be `` cleaned '' from the data before it can be used or interpreted, which is where the new AI algorithm comes in.
The algorithm, called AutoClass, is a step up from existing statistical methods. Most existing methods assume that errors ( or noises) would follow certain predefined distribution, or how likely it is the errors will occur and how big the errors might be. Existing methods are often unable to fully clean the data as to reveal biological signals, and may even add new errors because of their improper assumptions on data distribution. In the opposite, AutoClass does not make any distributional assumption; hence, it can effectively correct a wide range of noises or technical variations.
`` AutoClass is an AI algorithm based on a special deep neural network designed to maximize both noise removal and signal retention. '' Dr. Luo said, `` The AI teaches itself to differentiate signal vs. noise in the data by seeing enough data. Usually the more data it sees, the better it performs. ''
In the study, Dr. Luo and his team demonstrated AutoClass can reconstruct high quality scRNA-Seq data and enhance downstream analysis in multiple aspects. In addition, AutoClass is robust and performs well in various scRNA-Seq data types and conditions.
AutoClass is highly efficient and scalable, and works well with data of a wide range of sample sizes and feature sizes, and runs smoothly even in a regular PC or laptop. AutoClass is open source and available online.
Explore further | tech |
Bang & Olufsen interim report Q3 2021/22: Bang & Olufsen | The company achieved revenue growth of 10% and a positive EBIT before special items in Q3. Bang & Olufsen continued to progress in line with its turnaround strategy, delivering double-digit growth for the seventh consecutive quarter.
In Q3, growth was driven by both product sales and Brand Partnering. The positive trend in sell-out also continued, underlining the good customer demand for B & O products across markets. The global scarcity of components had an adverse impact on both revenue, especially in the Staged and Flexible Living categories, and costs. The EBIT margin before special items was 0.7% and free cash flow was a negative DKK 14m due to higher component costs, which amounted to more than DKK 65m in the quarter.
The company maintains its outlook for 2021/22. The company expects the high level of component and logistics costs experienced in Q3 to continue throughout the remainder of the financial year, impacting earnings and free cash flow negatively. Therefore, the company expect EBIT margin before special items and free cash flow to be in the low end of the range. In addition, uncertainty related to global supply chains and consumer demand has increased following higher inflation, Russia’ s invasion of Ukraine and COVID-19 lockdowns in China.
“ For the seventh consecutive quarter we delivered double-digit growth. We achieved this despite the ongoing global supply chain challenges. That is a testament to the resilience of our partners and employees, and I want to thank them for their big contribution. In Q3, component scarcity impacted both our costs and growth, and we expect this to continue for a while. In addition, we see increased uncertainty related to consumer demand following higher inflation, Russia’ s tragic invasion of Ukraine and COVID-19 lockdowns in China. ”
“ Our strategy is working, and we continued to build robustness in Q3. We added key people to the teams in especially engineering and regional sales and marketing to ensure that we have the right capabilities for the future. We continued to see high customer demand across markets, we grew our customer base by 25%, and we launched new products. We introduced a new edition of our gaming headphone to strengthen our position in the fast-growing gaming market. We also presented the Beosystem 72-22 as part of our Classics programme, showcasing our unique capabilities and the longevity of our products, which is a key differentiator for us. ”
Strategic progressComponent scarcity impacted strategy execution again in Q3. Marketing activities were adjusted to accommodate for product availability.
Outlook maintainedThe company maintains the outlook for the financial year 2021/22, but due to higher component costs, the company now expects EBIT margin before special items and free cash flow to be in the low end of the range. The outlook is as follows:
The outlook is based on certain assumptions, including ceasing operations in Russia and Belarus since 24 February 2022. The outlook is subject to increased uncertainty related to supply chain and consumer demand due to higher inflation, the war in Ukraine and COVID-19 lockdowns in China. ( see page 18 of the interim report for 9M 2021/22)
Conference call for analysts and investorsThe company will host a webcast on 7 April 2022 at 10:00 CEST, where the financial development for Q3 21/22 will be presented.
The webcast can be accessed at https: //streams.eventcdn.net/bo/q3202122 | general |
Liquid Biopsy Market 2022 Top Leading Players, Recent | Pune, April 07, 2022 ( GLOBE NEWSWIRE) -- Global Liquid Biopsy Market report is expert study that can deliver you with an elaborate analysis of the Liquid Biopsy. The report covers information about top players, projected size of the market, data and figures to update about where opportunities are in the market, competitor analysis and vendor information. Also, it offers a complete analysis of the key market dynamics, with growth drivers, challenges, restraints, opportunities and trends. Furthermore, receive exact details and statistics associated to Liquid Biopsy market and its key factors such as revenue, growth, compound annual growth, year-over-year developments, consumption, and production.
The advantages of liquid biopsy over solid tumor biopsy, rising prevalence of cancer, increasing preference for non-invasive procedures, growing public and private funding to support research activities in the field of liquid biopsy and favorable government initiatives, are some of the factors expected to propel the growth of liquid biopsy market in the coming years. Some of the key factors inhibiting the growth of liquid biopsy market includes, clinical utility challenges, lack of sensitivity and specificity of liquid biopsy tests and unclear reimbursement & regulation scenario.
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The global liquid biopsy market is predicted to reach USD 9.53 Billion by 2028. Liquid biopsy tests are executed to understand the molecular aspects of cancer across the healthcare and research settings, such as hospitals, physicians, pathological and research laboratories. Liquid biopsy is a non-invasive technology that detects molecular biomarkers using liquid sample without the need for costly or invasive procedures. The abilities of liquid biopsy like, easy and minimal invasiveness, early cancer diagnosis & detection, characterization of new lesions, drug & therapeutic target identifications for cancer treatment are some advantages of liquid biopsies, which improve the safety and efficiency of cancer therapy for patients.
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2. Impact of COVID-19 on Global Liquid Biopsy Market
3. Global Liquid Biopsy Market & Forecast ( 2016 - 2028)
4. Global Liquid Biopsy Market Share & Forecast ( 2016 - 2028)
5. Global Liquid Biopsy Market & Forecast - by Circulating Biomarker ( 2016 - 2028)
6. Global Liquid Biopsy Market & Forecast - by Product ( 2016 - 2028)
7. Global Liquid Biopsy Market & Forecast - by Application ( 2016 - 2028)
8. Global Liquid Biopsy Oncology Market & Forecast - by Clinical Application ( 2016 - 2028)
9. Global Liquid Biopsy Market & Forecast - by End User ( 2016 - 2028)
10. Global Liquid Biopsy Market & Forecast - by Sample Type ( 2016 - 2028)
11. Liquid Biopsy Market & Forecast - Regional Analysis ( 2016 - 2028)
12. Liquid Biopsy Market Share & Forecast - Geographical Analysis ( 2016 - 2028)
14. Liquid Biopsy Companies Financing Details
Detailed TOC at- https: //www.absolutereports.com/TOC/19376062 # TOC
Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in depth market research. We are one of the top report resellers in the market, dedicated towards bringing you an ingenious concoction of data parameters. | general |
Unruly passengers on flights: Why people act out despite the risks | Incidents involving unruly passengers in the United States are decreasing.
But the good news may end there.
On average, there were about 500 reports of unruly passengers per month in 2021, according to the U.S. Federal Aviation Administration. In the first three months of 2022, this number fell to about 350 reports per month, according to FAA statistics.
That's progress, especially considering that there are far more flights than in early 2021, when incident reports reached an all-time peak.
However, it's still a far cry from the number of in-flight outbursts logged before the pandemic, which from 2014 to 2019 happened about 10 times a month, according to CNBC's calculations.
In 2021, nearly 3 out of 4 unruly passenger reports were related to mask compliance, according to the FAA, which monitors flights that depart from or arrive in the United States.
For some, refusing to wear a mask became both a political statement and a marker of personal autonomy, said Sharona Hoffman, co-director of the Law-Medicine Center at Case Western Reserve University School of Law.
Many of these people do not want to be told what to do, and flying is `` an environment where they are told what to do — all the time — for hours. ''
Rage in the not-so-friendly skies is also a manifestation of anger happening on the ground, she said. For every video of an airline passenger losing it on a flight, there are others at grocery stories, school board meetings and banks.
Covid measures have added to the stress of flying, said Hoffman. Meals, drinks and snacks were taken away at one point, `` so all the things that used to distract and entertain people were removed, '' she said.
Bryan Del Monte, president of The Aviation Agency, a marketing company for the aviation industry, agreed stress may be behind the increase in unruly behavior.
`` However, I 'm under a fair amount of stress and somehow, I don't go bananas on an airplane, punch out the flight attendant … while 20-30 people film it, '' he said.
Threatening or interfering with the duties of a crewmember can result in fines, flight bans, federal criminal charges and jail time. With most passengers armed with video cameras on their phones, there's also the risk of becoming the unwitting star of a viral video, which can — and has — led to job terminations and deportations.
But what's a devastating public tantrum to one person may be an act of gallantry to another, said Hoffman, citing those who many want to be a `` hero for anti-mask advocates. ''
Others don't feel the rules apply to them, said Hoffman, adding that `` people are used to thinking they 'll get an exception, '' which may have been the case for them with vaccine mandates.
Hoffman said although a lot is at stake for bad behavior aboard commercial flights, `` people commit crimes all the time. ''
Most don't think they 'll get caught or punished, she said.
They could be right.
Of the 1,091 unruly passenger reports this year, fewer than 30% have been investigated and just 15% have resulted in `` enforcement action, '' according to the FAA. Still, that's higher than the 6% of reports that resulted in enforcement action in 2021, said Del Monte.
`` Enforcement action '' now means proposed fines, an FAA spokesperson told CNBC. In the past, it included warnings and counseling, but that ended under the FAA's `` zero tolerance '' policy which started in January 2021.
Maximum fines have increased too — from $ 25,000 to $ 37,000 per violation — and one incident can result in multiple violations, according to the FAA.
But this isn't enough, said Del Monte, who said much more should be done.
`` Fining these people is obviously not a deterrent, '' he said. `` Most [ of ] them — $ 300, $ 3,000, $ 30,000 or $ 3 million — it wouldn't matter. They're judgment proof. ''
Even fewer people face criminal proceedings, he said. The FAA, which lacks criminal prosecutorial authority, said it referred 37 unruly passengers to the FBI last November. Later that month, Attorney General Merrick Garland directed U.S. attorneys to prioritize the prosecution of federal crimes on commercial aircraft.
`` That's when we started seeing people get referred for criminal prosecution, '' he said. `` A few high profile cases where these criminals wind up doing 60 months somewhere would put the word out that this is not acceptable. ''
Del Monte said he supports Delta Air Lines CEO Ed Bastian's call for a national `` no-fly '' list in a letter to Garland in February. In the letter, Bastian said Delta has banned at least 1,900 for mask-related issues alone, as well as increased self-defense training for flight attendants and front-line employees.
Since most problems are related to masks, unruly passenger reports will likely drop once mask mandates end, said Del Monte.
Masks are no longer required on several major European airlines and could end in the United States on April 18, when the federal mandate expires. Asia, on the other hand, is expected to keep mandates in place longer. News of unruly flyers in the region remains scarce thanks in part to a culture of mask-wearing that predates the pandemic.
Yet even with mandates gone, incidents aren't likely to return to pre-pandemic numbers, said Del Monte.
About 28% of U.S. unruly passenger reports in 2021 were not related to masks, according to the FAA. Ignoring mask-related incidents altogether, unruly passenger incidents still increased some 1,300% last year compared with the five years before the pandemic, according to CNBC's calculations.
The most violent onboard attacks `` have nothing to do with masks, '' said Sara Nelson, president of the Association of Flight Attendants-CWA in a statement published Feb.15 in support of a centralized list of banned passengers shared between airlines.
Still, Del Monte said, the problem isn't likely to go away soon.
`` I doubt sincerely … the ignoramus sod who is suddenly an expert on both epidemiology and the rule of law will be placated by lack of a mask, '' he said. `` That person will undoubtedly find some other small injustice to create the conditions he 'll wind up fined or imprisoned over. ''
Plus, airlines may have to contend with another mask problem then — the `` radicalization '' of flyers who want the mandates to continue.
`` They may replace those who refuse to wear a mask as being unruly, '' he said.
| business |
As the war in Ukraine continues, millions of children in the Middle East and North Africa at increased risk of malnutrition amid food price hikes | AMMAN, 7 April 2022- Six weeks into the war in Ukraine, the fragile nutritional status of children in the Middle East and North Africa is expected to worsen.
While Muslims in the region observe the holy month of Ramadan, disruption in imports caused by the conflict is creating food shortages amid high prices of essential commodities, including wheat, edible oils, and fuel. If this continues, it will severely impact children, especially in Egypt, Lebanon, Libya, Sudan, Syria and Yemen; some are hunger hotspots according to recent assessments [ 1 ] undertaken prior to the Ukraine crisis, as those countries were already struggling with conflicts, economic crises, or a sharp increase in global food prices in 2021.
“ With ongoing conflicts, political instability, the COVID-19 pandemic and the war in Ukraine, the region is witnessing unprecedented hikes in food prices coupled with low purchasing power. The number of malnourished children is likely to drastically increase, ” said Adele Khodr, UNICEF Regional Director for the Middle East and North Africa.
The impact of the continuing war in Ukraine is compounding the impacts of two long years of the COVID-19 pandemic on economies, employment and poverty in the MENA region, where more than 90 per cent of food is imported.
Many countries have already been struggling with child malnutrition, especially due to ongoing armed conflicts and humanitarian crises.
In the MENA countries most impacted by the war in Ukraine, undernutrition rates are higher.
“ UNICEF continues to coordinate the nutrition response in the region. We call to consolidate efforts to urgently deliver and scale up prevention, early detection and treatment of malnutrition to address the needs of millions of children and women, especially in countries most impacted by crises. This is critical to prevent a massive malnutrition crisis for children in the region ” added Khodr.
UNICEF works with partners to deliver and scale-up life-saving treatment services for children with severe wasting in conjunction with its early detection in children under five years old. Simultaneously, with partners, UNICEF delivers preventive nutrition services including micronutrient supplements, growth monitoring and counselling and support on breastfeeding and age-appropriate complementary feeding.
“ We stand ready to facilitate the revamping of the nutrition response in the region to further strengthen links with agriculture, social protection, education and water and sanitation sectors to reach more children in need, ” concluded Khodr.
[ 1 ] “ Hunger Hotspots FAO-WFP early warnings on acute food insecurity | February to May 2022 Outlook ”.
[ 2 ] Children between the ages of 6 and 23 months.
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. | general |
Global Aircraft Mounts Market to 2030 | Dublin, April 07, 2022 ( GLOBE NEWSWIRE) -- The `` Aircraft Mounts Market by Mount Type, Application, Material, Aircraft Type and End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030 '' report has been added to ResearchAndMarkets.com's offering. Aircraft mount is used to connect engine and other components to the main body or frame of the aircraft. Aircraft mounts connect the engine with the fuselage, suppress vibrations of the engine, and distribute them safely to the whole aircraft structure for a smooth flight.Aircraft mounts include a variety of mounts such as engine mounts, shock mounts, pedestal mounts, cup mounts, miniature mounts, high deflection mounts, and micr-mounts among others. Aircraft mounts protect delicate electronic equipment from damaging shock and vibration in commercial aircrafts, military aircrafts, and business aviation aircrafts. These mounts offer isolation from vibration and protection from lower frequency disturbances. Aircraft mounts are used for interior and sub-structure applications such as walls, galleys & lavatories, and side wall panels. They are also used to mount and protect circuit boards, sensors, and instruments to protect critical structure such as avionics, camera systems, engine controls, communications equipment, and weapons systems.The significant factors impacting the growth of the aircraft mounts market include greater need for comfort and safety of passengers, and stringent regulations pertaining to safety and noise pollution caused by aircrafts. Furthermore, increasing adoption of advanced aircraft mounts in defense fleets, growing military budget, rising demand for new aircrafts and increasing maintenance, repair, and operations ( MRO) activities are expected to drive the market growth. Moreover, high material cost, and lack of efficient supply chain hinder the market growth. Greater demand from emerging economies, and technological advancements are expected to offer growth opportunities during the forecast period.For the purpose of analysis, the report segments the global aircraft mounts market based mount type, application, material, aircraft type, end use, and region. On the report provides information about different mount types, including engine mounts, shock mounts, pedestal mounts, cup mounts, and others. The applications covered in the study include airframe, engine, avionics, and others. The materials highlighted in the report are rubber, steel alloys, aluminum alloys, and others. Furthermore, the study outlines the details about aircraft types such as commercial aircraft, military aircraft, and general aviation aircraft. The key end uses include original equipment manufacturer and replacement. Moreover, it summarizes the details about revenue generated across regions such as North America, Europe, Asia-Pacific, and LAMEA.Key Benefits
Key Topics Covered: CHAPTER 1: INTRODUCTIONCHAPTER 2: EXECUTIVE SUMMARYCHAPTER 3: MARKET LANDSCAPE3.1. Market definition and scope3.2. Key findings3.2.1. Top impacting factors3.2.2. Top investment pockets3.2.3. Top winning strategies3.3. Porter's five forces analysis3.4. Market share analysis, 2020 (%) 3.5. Market dynamics3.5.1. Drivers3.5.1.1. Greater need for comfort and safety of passengers3.5.1.2. Stringent regulations associated with safety and noise pollution3.5.1.3. Greater adoption in defense fleets3.5.1.4. Increase in air traffic along with demand for new aircraft3.5.1.5. Greater penetration in commercial sector and increase in MRO activities3.5.2. Restraints3.5.2.1. High material cost3.5.2.2. Lack of efficient supply chain3.5.3. Opportunities3.5.3.1. Technological advancement and additive manufacturing3.5.3.2. Greater demand from emerging economies3.6. COVID-19 impact analysis3.6.1. Evolution of outbreak3.6.2. Micro economic impact analysis3.6.2.1. Consumer trends3.6.2.2. Technology trends3.6.2.3. Regulatory trends3.6.3. Macro-economic impact analysis3.6.3.1. GDP3.6.3.2. Import/export analysis3.6.3.3. Employment indexCHAPTER 4: AIRCRAFT MOUNTS MARKET, BY MOUNT TYPE4.1. Overview4.2. Engine mounts4.2.1. Key market trends, growth factors, and opportunities4.2.2. Market size and forecast, by region4.2.3. Market analysis, by country4.3. Shock mounts4.3.1. Key market trends, growth factors, and opportunities4.3.2. Market size and forecast, by region4.3.3. Market analysis, by country4.4. Pedestal mounts4.4.1. Key market trends, growth factors, and opportunities4.4.2. Market size and forecast, by region4.4.3. Market analysis, by country4.5. Cup mounts4.5.1. Key market trends, growth factors, and opportunities4.5.2. Market size and forecast, by region4.5.3. Market analysis, by country4.6. Others4.6.1. Key market trends, growth factors, and opportunities4.6.2. Market size and forecast, by region4.6.3. Market analysis, by countryCHAPTER 5: AIRCRAFT MOUNTS MARKET, BY APPLICATION5.1. Overview5.2. Airframe5.2.1. Key market trends, growth factors, and opportunities5.2.2. Market size and forecast, by region5.2.3. Market analysis, by country5.3. Engine5.3.1. Key market trends, growth factors, and opportunities5.3.2. Market size and forecast, by region5.3.3. Market analysis, by country5.4. Avionics5.4.1. Key market trends, growth factors, and opportunities5.4.2. Market size and forecast, by region5.4.3. Market analysis, by country5.5. Others5.5.1. Key market trends, growth factors, and opportunities5.5.2. Market size and forecast, by region5.5.3. Market analysis, by countryCHAPTER 6: AIRCRAFT MOUNTS MARKET, BY MATERIAL6.1. Overview6.2. Rubber6.2.1. Key market trends, growth factors, and opportunities6.2.2. Market size and forecast, by region6.2.3. Market analysis, by country6.3. Steel alloys6.3.1. Key market trends, growth factors, and opportunities6.3.2. Market size and forecast, by region6.3.3. Market analysis, by country6.4. Aluminum alloys6.4.1. Key market trends, growth factors, and opportunities6.4.2. Market size and forecast, by region6.4.3. Market analysis, by country6.5. Others6.5.1. Key market trends, growth factors, and opportunities6.5.2. Market size and forecast, by region6.5.3. Market analysis, by countryCHAPTER 7: AIRCRAFT MOUNTS MARKET, BY AIRCRAFT TYPE7.1. Overview7.2. Commercial aircraft7.2.1. Key market trends, growth factors, and opportunities7.2.2. Market size and forecast, by region7.2.3. Market analysis, by country7.3. Military aircraft7.3.1. Key market trends, growth factors, and opportunities7.3.2. Market size and forecast, by region7.3.3. Market analysis, by country7.4. General aviation aircraft7.4.1. Key market trends, growth factors, and opportunities7.4.2. Market size and forecast, by region7.4.3. Market analysis, by countryCHAPTER 8: AIRCRAFT MOUNTS MARKET, BY END USE8.1. Overview8.2. Original equipment manufacturer8.2.1. Key market trends, growth factors, and opportunities8.2.2. Market size and forecast, by region8.2.3. Market analysis, by country8.3. Replacement8.3.1. Key market trends, growth factors, and opportunities8.3.2. Market size and forecast, by region8.3.3. Market analysis, by countryCHAPTER 9: AIRCRAFT MOUNTS MARKET, BY REGION
CHAPTER 10: COMPANY PROFILES10.1. Trelleborg AB10.1.1. Company overview10.1.2. Key executives10.1.3. Company snapshot10.1.4. Operating business segments10.1.5. Product portfolio10.1.6. R & D expenditure10.1.7. Business performance10.1.8. Key strategic moves and developments10.2. GMT Rubber-Metal-Technic Ltd10.2.1. Company overview10.2.2. Key executive10.2.3. Company snapshot10.2.4. Product portfolio10.3. Cadence Aerospace10.3.1. Company overview10.3.2. Key executives10.3.3. Company snapshot10.3.4. Product portfolio10.3.5. Key strategic moves and developments10.4. ESCO Technologies Inc.10.4.1. Company overview10.4.2. Key executives10.4.3. Company snapshot10.4.4. Product portfolio10.4.5. R & D expenditure10.4.6. Business performance10.5. Shock Tech, Inc.10.5.1. Company overview10.5.2. Key executives10.5.3. Company snapshot10.5.4. Product portfolio10.6. AirLoc Ltd.10.6.1. Company overview10.6.2. Key executives10.6.3. Company snapshot10.6.4. Product portfolio10.7. Parker-Hannifin Corporation10.7.1. Company overview10.7.2. Key executives10.7.3. Company snapshot10.7.4. Operating business segments10.7.5. Product portfolio10.7.6. R & D expenditure10.7.7. Business performance10.7.8. Key strategic moves and developments10.8. RAM Mounts ( National Products Inc.) 10.8.1. Company overview10.8.2. Key executives10.8.3. Company snapshot10.8.4. Product portfolio10.9. VMC GROUP10.9.1. Company overview10.9.2. Key executives10.9.3. Company snapshot10.9.4. Product portfolio10.9.5. Key strategic moves and developments10.10. Meeker Aviation10.10.1. Company overview10.10.2. Key executive10.10.3. Company snapshot10.10.4. Product portfolio10.10.5. Key strategic moves and developments
For more information about this report visit https: //www.researchandmarkets.com/r/hob5ov | general |
Blood clot risk higher for six months after having COVID-19 | A study from Sweden suggests that after a COVID-19 infection, there is an increased risk of developing a serious blood clot for the next six months.
The research found that people with severe COVID-19, and those infected during the first wave, had the highest clot risk. This emphasises the importance of being vaccinated against the virus.
These findings, published in the British Medical Journal, may help explain a doubling in the incidence of, and deaths from, blood clots in England since the start of the pandemic, compared with the same periods in 2018 and 2019. The risk was higher in the first wave than the second, which could be attributed to improved treatments and increased rate of vaccination among the elderly population by the second wave.
“ The degree of complications associated with COVID-19 is much stronger and lasts for much longer than what we might be getting after vaccination, ” Dr Frederick Ho, a lecturer in public health at the University of Glasgow, told The Guardian.
“ Even those people with mild symptoms who do not need to be hospitalised might have a small increase in the risk of ( blood clots). ” | tech |
Shanghai base metals fall on worries over COVID curbs, hawkish Fed | Shanghai base metals fell on Thursday, with aluminium dropping more than 3% to a three-week low, as COVID-19 restrictions in top consumer China and prospects of bigger U.S. rate hikes fuelled worries about a slowdown in global economic growth.
The most-traded May aluminium contract on the Shanghai Futures Exchange slipped 3.1% to 21,895 yuan ( $ 3,441.69) a tonne, as of 0530 GMT, while copper was down 0.5% at 73,380 yuan ( $ 11,534.65) a tonne.
ShFE nickel fell 1.5%, zinc was down 0.8% and tin declined 2%.
`` The move lower in Shanghai aluminium prices may be as simple as the global market digesting the prospect of a more aggressive Federal Reserve response, '' said Thomas Westwater, an analyst at DailyFX.
`` Given already high prices and renewed growth concerns around central bank tightening, I 'd say we could expect volatility to continue. Speculators may see this as a time to take some profits and reposition. ''
Shanghai on Wednesday made concessions on an unpopular COVID isolation policy that has separated children from their parents and sparked a public outcry, but extended a citywide lockdown that has left some residents struggling to buy food.
Meanwhile, the dollar held near a two-year high on hawkish comments from Fed officials, making greenback-denominated metals more expensive to buyers using other currencies.
In London, LME aluminium was down 0.2% at $ 3,436 a tonne, copper fell 0.3% to $ 10,277, lead eased 0.3% to $ 2,407, zinc fell 0.9% to $ 4,237 and tin was 0.4% lower at $ 43,680.
Russian aluminium giant Rusal, whose global operations have been hobbled by the war in Ukraine, has exported its first bauxite shipment from its mines in Guinea in nearly a month, an analysis of shipping data showed.
STOCKS: Asian shares retreated in line with a global sell-off, as markets were spooked by more aggressive noises from U.S. policy markers about the need for tighter monetary policy.
TIN: Indonesia's refined tin exports in March stood at 6,674.91 tonnes, up 10.45% from a year earlier, trade ministry data showed.
( $ 1 = 6.3617 Chinese yuan) ( Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu) | business |
Dupixent® ( dupilumab) Approved by European Commission for Children Aged 6 to 11 Years with Severe Asthma with Type 2 Inflammation | Approval based on Phase 3 data showing Dupixent significantly reduced severe asthma attacks and also improved lung function and health-related quality of life for children
Data reinforce well-established safety profile of Dupixent
TARRYTOWN, N.Y. and PARIS, April 7, 2022 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. ( NASDAQ: REGN) and Sanofi today announced that the European Commission ( EC) has expanded the marketing authorization for Dupixent® ( dupilumab) in the European Union. Dupixent is now also approved in children aged 6 to 11 years as an add-on maintenance treatment for severe asthma with type 2 inflammation characterized by raised blood eosinophils and/or raised fractional exhaled nitric oxide ( FeNO), who are inadequately controlled with medium to high dose inhaled corticosteroids ( ICS) plus another medicinal product for maintenance treatment.
`` Today's approval in Europe recognizes the benefits of Dupixent in helping children living with the profound effects of severe asthma, including unpredictable asthma attacks, routine disruption to daily activities and the use of systemic steroids that can impede children's growth, '' said George D. Yancopoulos, M.D., Ph.D., President and Chief Scientific Officer at Regeneron. `` Dupixent is the only treatment available that specifically blocks two key drivers of type 2 inflammation, IL-4 and IL-13, which our trials show plays a major role in childhood asthma, as well as in related conditions such as chronic rhinosinusitis with nasal polyposis and the often co-morbid condition, atopic dermatitis. In clinical trials, Dupixent significantly reduced asthma attacks, helped children breathe better and improved their health-related quality of life. We also remain committed to investigating Dupixent in other conditions where type 2 inflammation may significantly impact patients ' lives, including eosinophilic esophagitis, prurigo nodularis and chronic spontaneous urticaria. ''
Asthma is one of the most common chronic diseases in children. Up to 85% of children with asthma may have type 2 inflammation and are more likely to have higher disease burden. Despite treatment with current standard-of-care ICS and bronchodilators, these children may continue to experience serious symptoms such as coughing, wheezing and difficulty breathing. Severe asthma may impact children's developing airways and cause potentially life-threatening exacerbations. Children with severe asthma also may require the use of multiple courses of systemic corticosteroids that carry significant risks. Uncontrolled severe asthma can interfere with day-to-day activities, like sleeping, attending school and playing sports.
Dupixent, which was invented using Regeneron's proprietary VelocImmune® technology, is a fully human monoclonal antibody that inhibits the signaling of the interleukin-4 ( IL-4) and interleukin-13 ( IL-13) pathways and is not an immunosuppressant. By demonstrating significant clinical benefit together with a decrease in type 2 inflammation following IL-4 and IL-13 blockade with Dupixent, the Dupixent Phase 3 clinical program has established that IL-4 and IL-13 are key drivers of the type 2 inflammation that plays a major role in multiple related and often co-morbid diseases for which Dupixent is approved including asthma, atopic dermatitis and chronic rhinosinusitis with nasal polyposis ( CRSwNP), as well as investigational diseases such as eosinophilic esophagitis and prurigo nodularis, which have been studied in Phase 3 trials.
`` We are excited to bring the well-established safety and efficacy profile of Dupixent to even younger patients living with uncontrolled severe asthma in Europe. In addition to greatly reducing severe asthma attacks and improving lung function, patients in our clinical trials also reduced their oral corticosteroid use. This is particularly meaningful as these are medicines that can carry significant safety risks if used long term, '' said Naimish Patel, M.D. Head of Global Development, Immunology and Inflammation at Sanofi. `` This approval underscores our continued commitment to bringing Dupixent to as many patients as possible suffering from the negative effects of severe asthma with the hope of improving their quality of life. ''
The EC decision is based on pivotal data from the Phase 3 VOYAGE trial evaluating the efficacy and safety of Dupixent combined with standard-of-care asthma therapy in 408 children with uncontrolled moderate-to-severe asthma.
Two pre-specified populations with evidence of type 2 inflammation were evaluated for the primary analysis: 1) patients with baseline blood eosinophils ( EOS) ≥300 cells/μl ( n=259) and 2) patients with either baseline FeNO ≥20 parts per billion ( ppb) or baseline blood EOS ≥150 cells/μl ( n=350). Patients who added Dupixent to standard-of-care in these two groups, respectively, experienced:
The safety results from the trial were generally consistent with the known safety profile of Dupixent in patients aged 12 years and older with uncontrolled moderate-to-severe asthma. The overall rates of adverse events were 83% for Dupixent and 80% for placebo. Adverse events that were more commonly observed with Dupixent compared to placebo included injection site reactions ( 18% Dupixent, 13% placebo), viral upper respiratory tract infections ( 12% Dupixent, 10% placebo) and eosinophilia ( 7% Dupixent, 1% placebo). Helminth infections were also more commonly observed with Dupixent in patients aged 6 to 11 years and were reported in 2% of Dupixent patients and 0% of placebo patients.
The Phase 3 randomized, double-blind, placebo-controlled trial evaluated the efficacy and safety of Dupixent ( 100 mg or 200 mg every two weeks, based on weight tier) combined with standard-of-care asthma therapy in 408 children aged 6 to 11 years with uncontrolled moderate-to-severe asthma. More than 90% of children in the trial had at least one concurrent atopic medical condition such as allergic rhinitis and atopic dermatitis.
The primary endpoint was the annualized rate of severe asthma exacerbations over one year, and the key secondary endpoint was the change from baseline in percentage of predicted pre-bronchodilator FEV1 ( FEV1pp) at week 12. The FEV1pp seeks to evaluate a patient's change in lung function compared to their predicted lung function based on age, height, sex and ethnicity to account for children's growing lung capacity at different stages of development. Additional secondary endpoints included responder rates for asthma control as measured by a ≥0.5 improvement on the Asthma Control Questionnaire-7 Interviewer Administered ( ACQ-7-IA; 7-point scale) and health-related quality of life as measured by a ≥0.5 improvement on the Pediatric Asthma Quality of Life Questionnaire with Standardized Activities-Interviewer Administered ( PAQLQ ( S) -IA; 7-point scale).
Dupixent is also approved in Europe, U.S., Japan and other countries around the world for use in certain patients with asthma, specific patients with moderate-to-severe atopic dermatitis as well as CRSwNP in different age populations. Dupixent is also approved in one or more of these indications in more than 60 countries around the world, and more than 400,000 patients have been treated globally.
Dupixent is an injection under the skin ( subcutaneous injection) at different injection sites. In the EU for pediatric patients aged 6 to 11 years, Dupixent dosing is based on weight tier ( 100 mg every two weeks or 300 mg every four weeks for children ≥15 to < 30 kg, 200 mg every two weeks or 300 mg every four weeks for children ≥30 to < 60 kg and 200 mg every two weeks for children ≥60 kg) and is supplied as a pre-filled syringe. It is also available as a pre-filled pen for adolescents ( 12 to 17 years) and adults at 200 and 300 mg doses. Dupixent is intended for use under the guidance of a healthcare professional and can be given in a clinic or at home by self-administration after training by a healthcare professional. In children younger than 12 years of age, Dupixent should be administered by a caregiver if given at home.
Regeneron's VelocImmune technology utilizes a proprietary genetically engineered mouse platform endowed with a genetically humanized immune system to produce optimized fully human antibodies. When Regeneron's President and Chief Scientific Officer George D. Yancopoulos was a graduate student with his mentor Frederick W. Alt in 1985, they were the first to envision making such a genetically humanized mouse, and Regeneron has spent decades inventing and developing VelocImmune and related VelociSuite® technologies. Dr. Yancopoulos and his team have used VelocImmune technology to create approximately a quarter of all original, FDA-approved or authorized fully human monoclonal antibodies currently available. This includes Dupixent, REGEN-COV® ( casirivimab and imdevimab), Libtayo® ( cemiplimab-rwlc), Praluent® ( alirocumab), Kevzara® ( sarilumab), Evkeeza® ( evinacumab-dgnb) and InmazebTM ( atoltivimab, maftivimab, and odesivimab-ebgn).
Dupilumab is being jointly developed by Regeneron and Sanofi under a global collaboration agreement. To date, dupilumab has been studied across more than 60 clinical trials involving more than 10,000 patients with various chronic diseases driven in part by type 2 inflammation.
In addition to the currently approved indications, Regeneron and Sanofi are studying dupilumab in a broad range of diseases driven by type 2 inflammation or other allergic processes including pediatric atopic dermatitis ( 6 months to 5 years of age, Phase 3), chronic obstructive pulmonary disease with evidence of type 2 inflammation ( Phase 3), eosinophilic esophagitis ( Phase 3), bullous pemphigoid ( Phase 3), prurigo nodularis ( Phase 3), chronic spontaneous urticaria ( Phase 3), chronic inducible urticaria-cold ( Phase 3), chronic rhinosinusitis without nasal polyposis ( Phase 3), allergic fungal rhinosinusitis ( Phase 3), allergic bronchopulmonary aspergillosis ( Phase 3) and peanut allergy ( Phase 2). These potential uses of dupilumab are currently under clinical investigation, and the safety and efficacy in these conditions have not been fully evaluated by any regulatory authority.
DUPIXENT is a prescription medicine used:
Do not use if you are allergic to dupilumab or to any of the ingredients in DUPIXENT®.
Before using DUPIXENT, tell your healthcare provider about all your medical conditions, including if you:
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.
Especially tell your healthcare provider if you are taking oral, topical, or inhaled corticosteroid medicines; have asthma and use an asthma medicine; or have atopic dermatitis or CRSwNP, and also have asthma. Do not change or stop your corticosteroid medicine or other asthma medicine without talking to your healthcare provider. This may cause other symptoms that were controlled by the corticosteroid medicine or other asthma medicine to come back.
The most common side effects include:
Tell your healthcare provider if you have any side effect that bothers you or that does not go away. These are not all the possible side effects of DUPIXENT. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.
Use DUPIXENT exactly as prescribed by your healthcare provider. It's an injection given under the skin ( subcutaneous injection). Your healthcare provider will decide if you or your caregiver can inject DUPIXENT. Do not try to prepare and inject DUPIXENT until you or your caregiver have been trained by your healthcare provider. In children 12 years of age and older, it's recommended DUPIXENT be administered by or under supervision of an adult. In children under 12 years of age, DUPIXENT should be given by a caregiver.
Please see accompanying full Prescribing Information including Patient Information.
Regeneron ( NASDAQ: REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for nearly 35 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to nine FDA-approved treatments and numerous product candidates in development, almost all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, hematologic conditions, infectious diseases and rare diseases.
Regeneron is accelerating and improving the traditional drug development process through our proprietary VelociSuite technologies, such as VelocImmune, which uses unique genetically humanized mice to produce optimized fully human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center, which is conducting one of the largest genetics sequencing efforts in the world.
For additional information about the company, please visit www.regeneron.com or follow @ Regeneron on Twitter.
We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve people's lives. Our team, across some 100 countries, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions.
Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY.
This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. ( `` Regeneron '' or the `` Company ''), and actual events or results may differ materially from these forward-looking statements. Words such as `` anticipate, '' `` expect, '' `` intend, '' `` plan, '' `` believe, '' `` seek, '' `` estimate, '' variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the impact of SARS-CoV-2 ( the virus that has caused the COVID-19 pandemic) on Regeneron's business and its employees, collaborators, and suppliers and other third parties on which Regeneron relies, Regeneron's and its collaborators ' ability to continue to conduct research and clinical programs, Regeneron's ability to manage its supply chain, net product sales of products marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees ( collectively, `` Regeneron's Products ''), and the global economy; the nature, timing, and possible success and therapeutic applications of Regeneron's Products and product candidates being developed by Regeneron and/or its collaborators or licensees ( collectively, `` Regeneron's Product Candidates '') and research and clinical programs now underway or planned, including without limitation Dupixent® ( dupilumab) as an add-on maintenance treatment for children aged 6 to 11 years with severe asthma with type 2 inflammation; uncertainty of the utilization, market acceptance, and commercial success of Regeneron's Products ( such as Dupixent) and Regeneron's Product Candidates and the impact of studies ( whether conducted by Regeneron or others and whether mandated or voluntary), including the studies discussed or referenced in this press release, on any of the foregoing or any potential regulatory approval of Regeneron's Products ( such as Dupixent) and Regeneron's Product Candidates; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron's Product Candidates and new indications for Regeneron's Products, such as Dupixent for the treatment of pediatric atopic dermatitis, chronic obstructive pulmonary disease with evidence of type 2 inflammation, eosinophilic esophagitis, bullous pemphigoid, prurigo nodularis, chronic spontaneous urticaria, chronic inducible urticaria-cold, chronic rhinosinusitis without nasal polyposis, allergic fungal rhinosinusitis, allergic bronchopulmonary aspergillosis, peanut allergy, and other potential indications; the ability of Regeneron's collaborators, licensees, suppliers, or other third parties ( as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron's Products and Regeneron's Product Candidates; the ability of Regeneron to manage supply chains for multiple products and product candidates; safety issues resulting from the administration of Regeneron's Products ( such as Dupixent) and Regeneron's Product Candidates in patients, including serious complications or side effects in connection with the use of Regeneron's Products and Regeneron's Product Candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's Products and Regeneron's Product Candidates, including without limitation Dupixent; ongoing regulatory obligations and oversight impacting Regeneron's Products, research and clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement of Regeneron's Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers and new policies and procedures adopted by such payers; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron's Products and Regeneron's Product Candidates; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license, collaboration, or supply agreement, including Regeneron's agreements with Sanofi, Bayer, and Teva Pharmaceutical Industries Ltd. ( or their respective affiliated companies, as applicable) to be cancelled or terminated; and risks associated with intellectual property of other parties and pending or future litigation relating thereto ( including without limitation the patent litigation and other related proceedings relating to EYLEA® ( aflibercept) Injection, Dupixent, Praluent® ( alirocumab), and REGEN-COV® ( casirivimab and imdevimab)), other litigation and other proceedings and government investigations relating to the Company and/or its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron's business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron's filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2021. Any forward-looking statements are made based on management's current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update ( publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.
Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron's media and investor relations website ( http: //newsroom.regeneron.com) and its Twitter feed ( http: //twitter.com/regeneron).
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates regarding the marketing and other potential of the product, or regarding potential future revenues from the product. Forward-looking statements are generally identified by the words `` expects '', `` anticipates '', `` believes '', `` intends '', `` estimates '', `` plans '' and similar expressions. Although Sanofi's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, unexpected regulatory actions or delays, or government regulation generally, that could affect the availability or commercial potential of the product, the fact that product may not be commercially successful, the uncertainties inherent in research and development, including future clinical data and analysis of existing clinical data relating to the product, including post marketing, unexpected safety, quality or manufacturing issues, competition in general, risks associated with intellectual property and any related future litigation and the ultimate outcome of such litigation, and volatile economic and market conditions, and the impact that COVID-19 will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. Any material effect of COVID-19 on any of the foregoing could also adversely impact us. This situation is changing rapidly and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under `` Risk Factors '' and `` Cautionary Statement Regarding Forward-Looking Statements '' in Sanofi's annual report on Form 20-F for the year ended December 31, 2021. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.
Regeneron Contacts:
Media Relations
Ashleigh Dixon
Tel: +1 914-374-2422
Ashleigh.Dixon @ regeneron.com
Investor Relations
Vesna Tosic
Tel: +1 914-847-5443
Vesna.Tosic @ regeneron.com
Sanofi Contacts:
Media Relations
Sally Bain
Tel: +1 781-264-1091
Sally.Bain @ sanofi.com
Investor Relations
Eva Schaefer-Jansen
Tel: +33 7 86 80 56 39
eva.schaefer-jansen @ sanofi.com
Arnaud Delépine
Tel: +33 ( 0) 6 73 69 36 93
arnaud.delepine @ sanofi.com
Corentine Driancourt
Tel: +33 ( 0) 6 40 56 92
corentine.driancourt @ sanofi.com
Felix Lauscher
Tel: +1 908-612-7239
felix.lauscher @ sanofi.com
Priya Nanduri
priya.nanduri @ sanofi.com
Nathalie Pham
Tel: +33 ( 0) 7 85 93 30 17
nathalie.pham @ sanofi.com
SOURCE Regeneron Pharmaceuticals, Inc. | business |
'We hear you ': House Democrats ' campaign arm touts early investment in Black voter outreach |
The campaign arm of House Democrats is launching a new effort to reach Black voters ahead of the
November midterm elections
.
Beginning in Virginia this week, the Democratic Congressional Campaign Committee will roll out radio and print ads that make the pitch to Black voters by emphasizing policy achievements such as the
expanded child tax credit
for 2021 included in the
American Rescue Plan
. The areas targeted by the five-figure investment include the Northern Virginia district of Rep. Abigail Spanberger and the Hampton Roads district of Rep.
Elaine Luria
. Both Democrats are in the DCCC's Frontline program for vulnerable incumbents and also on the National Republican Congressional Committee's target list for 2022.
Black voters have historically criticized politicians of both parties for only showing interest in their communities shortly before an election. `` This is a very loud, intentional, and thoughtful response to the feedback that we need to communicate earlier, and it's just the beginning. We're saying, we hear you, '' Chris Taylor, the DCCC's national press secretary, said in an email.
The DCCC also noted that the effort represents its earliest paid media investment aimed at Black voters in an election cycle. It is part of the committee's Building Our Base Project, an initiative launched last year with an initial investment of $ 30 million aimed at building stronger relationships with communities of color.
Primary election season is heating up. Here are the 2022 dates to know.
One radio spot, shared first with CNN, suggests Democrats were the only party attuned to the stresses faced by African Americans during the global pandemic.
Read More
In another radio ad, the narrator characterizes congressional Democrats as fighters for Black communities. `` Democrats in Congress delivered for us with the American Rescue Plan, and now, we're back to work, our businesses are reopening, and our kids have returned to classrooms where they thrive, '' the narrator says. `` And not a single Republican voted for it. ''
While no Republicans supported the
nearly $ 2 trillion economic stimulus law
enacted in March 2021, other coronavirus relief measures, such as
the CARES Act
that was enacted under then-
President Donald Trump
, did enjoy bipartisan support.
Besides radio, the campaign also includes a print ad with the words `` We Did That '' in bold lettering. Legislative actions highlighted in the ad include the enhanced monthly child tax credit, the
bipartisan infrastructure package
and the George Floyd Justice in Policing Act. As part of the American Rescue Plan, the child tax credit for 2021 was raised to a maximum of up to $ 3,600 per child, up from $ 2,000 previously, and could be received in monthly installments. The enhanced credit
expired at the end of December
. The police reform bill named after George Floyd
passed the House
with Democratic support but has stalled in the Senate.
The new DCCC push comes at a time when recent polls suggest
President Joe Biden
has lost ground with Black voters. For instance, a Pew Ressearch Center survey from
March 2021
found Biden with a job approval rating of 87% among Black Americans. That number had fallen to 60% in
Pew's January survey
.
CNN's Ariel Edwards-Levy contributed to this report. | general |
2021 is not an appropriate benchmark for bank profitability: Analyst Nigel D’ Souza | New Zealanders are starting to spend less in response to rising fuel prices and other living costs, according to a survey of Westpac customers.
U.K. companies are raising starting salaries at the fastest pace on record as worsening labor shortages hand workers unprecedented bargaining power.
Oil headed for a back-to-back weekly retreat on plans for massive stockpile releases, a demand-sapping virus outbreak in top importer China and a hawkish turn from the U.S. Federal Reserve.
Peru raised interest rates to a 13-year high to tame soaring inflation that has triggered mass unrest in recent days.
Stocks in Asia looked set for a muted start Friday as investors digest the Federal Reserve’ s plan for aggressive policy tightening and monitor the economic fallout of China’ s Covid lockdowns.
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Baseball Caps & Unmade Beds: Judges Talk Virtual Decorum | A trio of federal judges warned lawyers at an American Bar Association conference in Austin, Texas, on Thursday to be aware of the ethical challenges and professional pitfalls caused by an uptick in virtual hearings and social media use in the courtroom.Second Circuit Judge Denny Chin, former Ninth Circuit Chief Judge Sidney Thomas and Chief Judge for the Southern District of Texas Lee Rosenthal spoke on a panel on legal malpractice, telling the audience about the loss of decorum they 've seen since virtual video platforms like Zoom have increased in popularity since COVID-19 shut down courtrooms in the spring of 2020.... | general |
Mkango Resources Completes Initial Sampling and Ground | April 07, 2022 02:00 ET | Source: Mkango Resources Ltd. Mkango Resources Ltd.
LONDON and VANCOUVER, British Columbia, April 07, 2022 ( GLOBE NEWSWIRE) -- Mkango Resources Ltd. ( AIM/TSX-V: MKA) ( the `` Company '' or `` Mkango '') is pleased to provide an update on the exploration programme at the Nkalonje Hill Rare Earths Project, 14 km from Mkango’ s Songwe Hill Rare Earths development project ( see Figure 1). Mapping, sampling and ground geophysical data were obtained at Nkalonje in Q4 2021, following up on encouraging historical regional geophysical data.
“ We are extremely encouraged by the recent exploration results for the Nkalonje Hill Rare Earths project. The targets generated from the mapping and geophysics data are exciting indicators of the potential for further mineralisation at depth. The similarities between Nkalonje and Songwe Hill, and the high TREO grades from the assay results, demonstrate a strong case for further investigation. In the long term, the close proximity of Nkalonje to Songwe provides a good potential source of additional REE feedstock for processing at Songwe. ”
Geological mapping and geophysics data for Nkalonje confirms the presence of previously mapped nepheline syenite, breccia and carbonatite ( see Figure 2).
Based on interpretation of the recent data, the Company has identified two drilling targets at Nkalonje ( see Figure 2 below).
Planned work at Nkalonje consists of continued evaluation of the dykes at Target 1, including new sampling ( including channel sampling where possible) in order to trace the grade of the dykes along strike. A soil/auger sampling and trenching programme is planned to ground truth the geophysical anomalies at Target 2.
Sample preparation and analytical work was provided by Intertek-Genalysis Laboratories ( Johannesburg, South Africa, and Perth, Australia), employing ICP-MS techniques suitable for REE analyses and following strict internal laboratory QAQC procedures, inserting blanks, standards and duplicates, in addition to blanks and standards inserted by Mkango.
Ground geophysics data was acquired over the Nkalonje vent by Gregory Symons Geophysics ( Namibia) in November-December 2021. Ground magnetic, radiometric and gravity data were collected over an area of 2.7 x 2.7 km, covering the hill and surrounding lake sediments, with magnetic and radiometric data collected at 50 m line spacing, and gravity data collected along selected lines at 100 m spacing. 3D inversions of the magnetic and gravity data were processed using VOXI Earth Modelling in Oasis Montaj software. The NSAMT data was acquired on two lines, bisecting the hill at 50 m station spacing, and the IP survey was carried out using a pole-dipole electrode spread on eight lines with a 50 m dipole spacing.
Scientific and technical information contained in this release has been approved and verified by Dr Scott Swinden of Swinden Geoscience Consultants Ltd, who is a “ Qualified Person ” in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations ( EU) No. 596/2014 ( 'MAR ') which has been incorporated into UK law by the European Union ( Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
Mkango's corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.
Mkango is developing Songwe Hill in Malawi with a Feasibility Study nearing completion. Malawi is known as `` The Warm Heart of Africa '', a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.
In parallel, Mkango and Grupa Azoty PULAWY, Poland's leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland. The Separation Plant will process the purified mixed rare earth carbonate produced at Songwe.
Through its ownership of Maginito ( www.maginito.com), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium ( NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies. Maginito holds a 42% interest in UK rare earth ( NdFeB) magnet recycler, HyProMag ( www.hypromag.com) with an option to increase its interest to 49%.
Mkango also has an extensive exploration portfolio in Malawi, including the Mchinji rutile exploration project, the Thambani uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.
For more information, please visit www.mkango.ca
This news release contains forward-looking statements ( within the meaning of that term under applicable securities laws) with respect to Mkango, its business, HyProMag, the Separation Plant and Songwe. Generally, forward looking statements can be identified by the use of words such as “ plans ”, “ expects ” or “ is expected to ”, “ scheduled ”, “ estimates ” “ intends ”, “ anticipates ”, “ believes ”, or variations of such words and phrases, or statements that certain actions, events or results “ can ”, “ may ”, “ could ”, “ would ”, “ should ”, “ might ” or “ will ”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, governmental action relating to COVID-19, COVID-19 and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, factors relating the development of the Separation Plant, including the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the Separation Plant, changes in economics and government regulation, the positive results of a feasibility study on Songwe Hill and delays in obtaining financing or governmental approvals for, and the impact of environmental and other regulations relating to, Songwe Hill and the Separation Plant. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider ( as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended ( the `` U.S. Securities Act '') and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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Health Providers Must Avoid COVID Reimbursement Missteps | One Health Resources and Services Administration program, `` COVID-19 Claims Reimbursement to Health Care Providers and Facilities for Testing, Treatment, and Vaccine Administration for the Uninsured, '' has been a huge source of funding for COVID-19 services during the public health emergency.The HRSA uninsured program has paid approximately $ 18 billion in claims, including approximately $ 11.4 billion for testing, $ 5.85 billion for treatment and $ 1.6 billion for vaccines. [ 1 ] Over the last few weeks, the HRSA stopped accepting claims for COVID-19 testing and treatment claims, as well as for COVID-19 vaccination claims. [ 2 ] The program was funded by federal legislation, including the Families First Coronavirus... | general |
How and Why the New ‘ Over-Time’ Is Transforming the Work of Medical Affairs | Results and analysis recently released from a Reuters Health survey of life science roles, including 82% in medical affairs, found that the majority believe advisory boards and steering committees ( 80% and 65%, respectively) will remain virtual, even as in-person options resume. The respondents included medical affairs roles from pharmaceutical ( 75%), biotech ( 19%), medical device ( 5%), and consumer health manufacturers ( 1%).
COVID-19 more clearly focused the work of some medical affairs and commercial teams because convenience and inclusivity drive high program participation rates, modernizing medical affairs programs and translating directly to downstream insight generation.
Gains in inclusion, engagements, and insights driven by the elimination of constraints during a forced shift to asynchronous—or over-time—virtual and hybrid engagements are a boon for medical affairs activities. Technology is also helping break down geographic constraints, hierarchy influence, cumbersome contribution requirements, and language barriers, all generating meaningful gains in insight generation.
In the full research report, Bayer SVP and Head of Medical and Scientific Affairs Surjeel Choudhri says, “ By obviating the logistical challenges of getting to and from live events, virtual advisory boards are more accessible, ” and that the digital dimension also delivered additional value. “ If anything, ” he adds, “ they were much richer than face-to-face meetings. ”
The reason for this enrichment? People were more readily available, often more focused, and had access to more avenues of communication to share anecdotes and journal references. There also was greater continuity because information could be shared before and after, meaning there was greater follow-through.
We also can glean from a deeper analysis of the survey results that key opinion leaders and HCPs gravitate to engagements that meet their needs—and these needs are often met in a virtual venue. Teams that find the optimal mix of engagement strategies and tactics more quickly than their competitors will have an edge.
Established experts and rising stars alike appreciate a feeling of inclusivity, and the presence or absence of it can encourage or hamper deeper participation. While in-person advisory boards offer networking opportunities, the ability to contribute to scientific discussion can be compromised by time limitations, dominant personalities, or derailed conversations that veer off course. Virtual environments provide everyone with equal time to be heard, resulting in a richer experience with more meaningful content.
For HCPs, the choice to engage virtually often hinges on compliance—whether or not technology meets ethical standards for sharing information—as well as accessibility and convenience. Concise information, scientific exchange that gets right to the point, and access to up-to-date data are priorities. “ Easier access to data from clinical trials and real-world evidence data sets, publications, and patient-expressed need in one place would increase [ HCPs’ ] ability to deliver impact at exactly the right point in the conversation, ” says Jazz Pharmaceuticals’ director of medical excellence and capabilities, Victoria Ho.
If content is king for medical affairs, it stands to reason that the tools, technologies, and methods that support inclusivity and convenience will remove impediments to engagement. “ Everybody knows stakeholders want high-quality, credible, unbiased exchange of scientific information, and they want it on demand…not when we are willing to provide it, ” says Kumaran Krishnan, director of medical excellence and digital transformation at Teva EU.
If survey respondents believe interactions like advisory boards and steering committees will remain virtual but also report that in-person meetings can be high-value opportunities, how can medical affairs and commercial teams plan accordingly? The answer is to find an optimal blend of virtual and face-to-face engagements that give HCPs what they want.
Real-time meetings—one-time webcasts, video conferences, or even in-person events that require every attendee to be available at the same time—have their share of roadblocks: schedules that differ due to work hours or time zones, and the ( often false) assumption that everyone will be able to give their full attention for the duration of the meeting and that all agenda items will fit into the time allotted. Simply put, real-time interaction isn’ t the right venue for every type of work, at least not on its own. | tech |
House Speaker Nancy Pelosi has Covid, stood next to President Biden | House of Representatives Speaker Nancy Pelosi has tested positive for Covid but is not showing any symptoms, her office said Thursday.
`` After testing negative this week, Speaker Pelosi received a positive test result for Covid-19 and is currently asymptomatic, '' her deputy chief of staff Drew Hammill said in a Twitter post.
Pelosi's positive test is the latest in a series of Covid diagnoses among high-ranking government officials, including those who attended Washington's Gridiron Club and Foundation dinner last Saturday.
While Pelosi didn't attend the annual gala, Hammill told CNBC, more than a dozen D.C. power brokers who were there have since tested positive. Among them are Attorney General Merrick Garland, Commerce Secretary Gina Raimondo and Reps. Joaquin Castro and Adam Schiff, and Sen. Susan Collins, the Maine Republican whose office later Thursday revealed she was positive and had mild symptoms.
Pelosi's test result also comes a day after the California Democrat stood next to President Joe Biden at a bill-signing event at the White House;
Biden on Wednesday night tested negative for Covid `` as part of his regular-testing cadence, '' the White House said in a statement.
`` The president is not considered a close contact of Speaker Pelosi as defined by the '' Centers for Disease Control and Prevention, the statement said. `` The president saw Speaker Pelosi at White House events and had brief interactions over the course of the last two days. ''
`` He will continue to be tested regularly. The president wishes Speaker Pelosi a speedy recovery, '' the White House said.
The 82-year-old Pelosi follows Vice President Kamala Harris Vice President Kamala Harris in the order of presidential succession.
`` The Speaker is fully vaccinated and boosted, and is thankful for the robust protection the vaccine has provided, '' Hammill wrote on Twitter.
`` The Speaker will quarantine consistent with CDC guidance, and encourages everyone to get vaccinated, boosted and test regularly. ''
Politico reported Wednesday that several journalists who attended the Gridiron dinner also had tested positive.
In addition, CIA Director William Burns tested positive for the virus last week.
- Additional reporting by Kevin Breuninger | business |
Nickel Market to Hit USD 59.14 Billion by 2028 | Pune India, April 07, 2022 ( GLOBE NEWSWIRE) -- The global nickel market size is predicted to reach USD 59.14 billion by 2028 and exhibit a CAGR of 7.3% during the forecast period. Fortune Business Insights has presented this information in its report titled, “ Nickel Market, 2021-2028 ”. Nickel ( Ni) is a naturally occurring silvery-white, shiny metallic element. Because of its remarkable physical and chemical qualities, the substance is a required component in a variety of products.
Its principal use is alloying stainless and heat-resistant steels, particularly with chromium and other metals. Lower-grade Ni ore can now be processed because of advances in mining, smelting, and refining technology. Furthermore, rising exploratory operations by mining corporations, fueled by low commodity prices, are expected to enhance Ni metal uptake. Furthermore, increasing technological advancements in stainless steel and rising consumer spending on Ni-based items, such as alloys and batteries, would boost global market expansion over the anticipated timeline.
https: //www.fortunebusinessinsights.com/enquiry/request-sample-pdf/nickel-market-106576
The COVID-19 pandemic has hampered the market since supply networks around the world have been disrupted by lockdowns, social distances, and trade bans. Due to lockdowns in numerous countries, most industries and factories were temporarily shut down, hurting demand, production, and prices. Major mining businesses like Nickel Asia and Global Ferronickel Holdings have paused some of their operations as a result of COVID-19. Vale, a Brazilian firm, has cut its output forecast for 2020, citing a failure to comply with current maintenance shutdown schedules as the reason. Many governments, on the other hand, are attempting to resurrect their economy. As a result, the market is expected to level out in the next years.
On the basis of application, the market is fragmented into special steels, stainless steel, batteries, alloys, electroplating, and others. Geographically, the market is classified into Asia Pacific, South America, North America, Europe, Asia Pacific, the Middle East & Africa.
The research study offers a thorough examination of the industry, focusing on critical factors such as top companies and applications. It also provides quantitative data in terms of volume and value, market analysis, market data research methodology, and industry trend insights. It focuses on important industry advancements as well as the competitive landscape. In addition to the causes listed above, the research includes a number of other variables that have contributed to the market's recent expansion.
https: //www.fortunebusinessinsights.com/nickel-market-106576
Product adoption will be aided by rising stainless steel demand in automotive, consumer goods, and construction industries. Stainless steel accounts for more than two-thirds of global Ni use, according to the Nickel Institute Organization. The product enhances the steel's formability, weldability, and ductility. When utilized as an alloying element, it also provides corrosion resistance in specific applications. Stainless steel's strong demand in numerous industries can also be ascribed to its many features, including its lightweight, high tensile strength, durability, and ease of manufacture. As a result, increased stainless steel consumption will boost product demand during the anticipated timeframe. Ni's price has risen, making it a more expensive raw material for a variety of uses and industries.
In 2020, the Asia Pacific market was valued at USD 26.92 billion. In Asia Pacific, the nickel market growth has been supported by increased technological advancement in stainless steel to make it more sustainable. China has the largest nickel market share and is the fastest-growing country in the region. The rise is linked to China's fast-increasing construction and automotive industries, as well as rising research and development activities and rapid infrastructure projects, all of which are helping to stimulate product demand.
Stainless steel is mostly used in electric vehicles in Europe. The product demand in this region will be fueled by rapid growth of the automobile sector as well as increased technological advancement. The U.S. is a leading country in North America. Stainless steel production in this region has been spurred by rapid expansion of the building industry. The increased demand for Ni metal can be due to its high flexibility, good energy absorption, and explosion-resistant qualities.
The product's consumption can be found in special steels across the Middle East and Africa. Steels ' capacity to enhance ductility and toughness at low temperatures contributes to their hardness and strength. The South American market will rise due to the increasing use of stainless steel and Ni alloys in implanted medical devices and orthopedic applications such as joint replacements and stents.
https: //www.fortunebusinessinsights.com/enquiry/queries/nickel-market-106576
https: //www.fortunebusinessinsights.com/enquiry/speak-to-analyst/nickel-market-106576
Vale, BHP, Anglo American plc, and Eramet are among the market's leading producers. These businesses are involved in product development, capacity expansion, acquisitions, and market collaborations. Anglo American is a mining firm that deals in Ni, diamonds, platinum, copper, and iron ore. Codemin mine produces around 9,000 tonnes of Ni per year for the domestic market.
December 2021: Nicomet, a leading nickel and cobalt ( Co) company, was acquired by Vedanta. Nicomet has a production capacity of 7.5 tonnes of Ni and Co per year. This purchase will assist the company in meeting the growing demand for batteries and stainless steel.
About Us: Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us: Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner - Mahalunge Road, Baner, Pune-411045, Maharashtra, India.
Phone: US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales @ fortunebusinessinsights.com | general |
Driver says cyclists should pay ‘ road tax’ – then admits to owning electric car; Queen ruins naked bike ride; Sprinter jumps barrier to avoid peloton; Bikes on Film; Local paper trolls Tour of Britain; Cities a result of choices + more on the live blog | Like this site? Help us to make it better.
We’ ll finish off today with a round-up of some of your favourite cycling action scenes, inspired by what Cocovelo described in the comments as Jackie Chan’ s “ relatively peaceful and pleasant ” ride through Hong Kong in Project A – at least compared to the typical British morning commute.
I think Andy got too invested in working out how the Italian Job could have worked if they had used Raleighs instead of Minis:
Given a reasonable per-bike load of 25 kg of gold, that's only about 800 troy ounces or about £1.2M at today's prices. Probably not worth the trouble.
Thanks for that incredibly useful information there…
Though chrisonatrike at least thought there was some promise in my idea, saying “ the scene at the end with the cargo bike hanging over the cliff was a classic! ”
There were some great shouts when it came to your favourite bike-related action sequences, starting with 2012’ s silly but fun bike messenger thriller Premium Rush ( the posters for which included the Lance Armstrong-esque demand “ Ride like Hell ” – it’ s no “ Ride like you stole it Floyd ”, but it’ s decent). The film featured Scottish trials rider Danny MacAskill as a stunt rider:
Brooksby pointed out that there’ s also a very similar British film called Alleycats, starring yer woman from Poldark:
Last on the bike messenger dramas is 1986’ s Quicksilver – there had to be a Kevin Bacon film in here somewhere, didn’ t there?
Which features a great early car versus bike race sequence…
... and some funky skills:
The opening ‘ catch-the-fox’ scene of the Tomb Raider reboot is also super, and includes Lara Croft – who knew she could ride a bike like that – almost getting doored by a Range Rover driver and then being struck by a police car ( just to make the whole thing relatable):
Finally, in Stormbreaker Alex Rider chases a white van man through London to a scrapyard:
One of the YouTube commenters, however, had some tips for young Alex:
And if action movies aren’ t your thing, here’ s a handy guide to some of the best other kinds of cycling films currently available on Netflix, Amazon Prime, and on DVD if you're feeling nostalgic.
Enjoy! I’ m away off to watch Breaking Away. Now that’ s a proper film…
The Queen and a bunch of nude cyclists – not your everyday combination, I’ ll grant you that.
But the Queen’ s upcoming Platinum Jubilee celebrations have become a thorn in the side of the organisers of the London leg of the World Naked Bike Ride, an annual event where hundreds of cyclists head off for a nice group spin in the buff to address issues such as road safety, oil dependency, climate change, and body positivity.
First held in Seattle in 2003, with the debut edition in London taking place the following year, the World Naked Bike Ride is now held in more than 120 cities around the world. Despite Covid restrictions last year ( 2020’ s event was held virtually), over 1,421 riders bared all on their bikes through the country’ s capital.
The 2022 event is scheduled to take place in its usual slot on the second Saturday in June – which has led to it clashing it with a little old bash being organised for one of the inhabitants of Buckingham Palace.
Despite the Queen’ s Jubilee taking place the week before, the organisers of the naked bike ride were informed that Hyde Park, along with other areas in the vicinity of the palace, will be closed the following weekend to accommodate the dismantling of infrastructure.
The anticipated closure of Hyde Park, Green Park, Constitution Hill and the Mall means that the ride won’ t be able to start or finish in its usual spot, with changes also needing to be made to the route.
Other starts are expected to remain as planned, with feeder locations at Clapham Junction, Croydon, Deptford, Kew Bridge, Regents Park, Tower Hill, and Victoria Park, and an accessible option remaining feasible.
Organiser Dave said in a statement: “ Hyde Park is always the biggest and most popular start. It's where the ride started from in 2004 and we have always welcomed the support of the Royal Parks in facilitating this well-behaved, spectacular protest ride.
“ The participants also love the area and sing Happy Birthday to the Queen as they ride down the Mall. It's a sad loss for us this year but we 'll wish the Queen well from afar and be back next year. ”
Surely Liz could join in?
Maybe best not to ask Andrew…
Four-time Tour de France winner Chris Froome has said that he is fully fit for the first time since his horrific crash at the Critérium du Dauphiné in 2019.
Froome has struggled for form and fitness since the crash almost three years ago and only raced for the first time this season at the Coppi e Bartali in late March after an interrupted winter.
However, the 36-year-old Israel-Premier Tech rider is confident that most of his health problems are now behind him.
“ Obviously I was a bit delayed with the start to the season due to the setbacks that I had in December and January but I’ ve now had solid two and a half months to set up a good base, ” he said this week.
“ Now, after Coppi e Bartali it’ s time for me to introduce more intensity and more race-specific work on the bike. That’ ll take me towards my next goal, which will probably be the Tour of the Alps in a couple of weeks’ time.
“ I’ ve no issues now. No niggles, no pains, and nothing holding me back. I’ ve got the green light so I just need to get the work in. I’ m on that path now and that’ s what I’ m used to doing. The training, the sacrifice, that’ s the part of the sport that I enjoy. I’ m just going to get stuck into it.
“ This is the first time since the big crash that everything is at 100 percent. There’ s no reason why I should be held back. It’ s purely about getting the racing and the training in and trying to get back up to speed again. ”
Froome plans to race the Tour of Romandie, a race he won in 2013 and 2014, after the Tour of the Alps, before another tilt at the Tour de France in the summer. But he insists he’ s approaching this season one race at a time.
“ I don’ t know my programme yet and we’ re taking it race by race at the moment. So much depends on where I get to in the next month or so and if it all goes to plan.
“ I think that it won’ t help to put expectations out there right now when I don’ t know where I’ m going to get to in the next couple of months. It really could go either way. I’ d love to be back to my old self but it’ s going to take a lot of work to get there. I’ ve now got the green light to do that work. I’ m optimistic and hope that I get there. ”
every car when they get “ held up ” by a cyclist pic.twitter.com/FZtOCmtOvN
— Robyn ( @ robynjournalist) April 7, 2022
In the ‘ why don’ t cyclists pay road tax’ genre of anti-bike online trolling, this one surely must go down as a classic own goal.
Responding to a tweet – from GB News of all places – about the Land Rover driver who was fined £1,000 for causing a cyclist to fall off their bike, motorist Jonathan came up with this wholly unique and not-at-all-tired and misinformed critique of people who ride bikes:
Until cyclist pay road tax, unsurfaced and ride like they are not the only things on the road, then they are not getting any sympathy from anyone.
— Jonathan Hodgson ( @ Jonathan1922) April 5, 2022
This morning, a few cyclists gathered on Twitter to educate the motorist about the realities of ‘ road tax’:
Roads are funded by vat, which cyclists pay. Road tax does not exist.
— Rory O'Sullivan ( @ Rorkimaru) April 7, 2022
Cars need insurance due to the capacity for massive damage. Almost all people who cycle get free 3rd party insurance cover due to the low risk VED is emissions based Electric cars are VED free, and pay no fuel duty - do drivers of those get no sympathy either?
— TBSteve ( @ TBStevesPix) April 7, 2022
Jonathan is forced by law to pay a massive amount of insurance for his 4x4 because he is a huge risk to other people and property. I get free cycle insurance with my LCC membership because I 'm very low risk, and I 'm not required to have that by law.
— CyclingMikey `` Who made him Batman? '' ( @ MikeyCycling) April 7, 2022
Cycling Mikey’ s tweet about 4x4s appeared to irk Jonathan, who quickly – and perhaps naively given the inevitable response – attempted to dispel such a notion, but instead placed his foot neatly in his mouth:
I have an electric car
— Jonathan Hodgson ( @ Jonathan1922) April 7, 2022
Cue the fits of hysterics erupting throughout Cycling Twitter:
So you do not pay VED or fuel duty? By your own measure you are not entitled to any sympathy.
— TBSteve ( @ TBStevesPix) April 7, 2022
It's obvious that Jonathan has stuck his foot straight into his mouth. Absolutely hilarious 😂
— Pete K ( @ K57532896K) April 7, 2022
Absolutely no sympathy………….for yourself. pic.twitter.com/XzFQGsGmPM
— I liked your bike ( @ ILikedYourBike) April 7, 2022
Get off the road you tax dodger…
— Chris Gerhard 🇪🇺 ( @ chrisgerhard) April 7, 2022
pic.twitter.com/nRlh9LawoQ
— Owdrider ( @ owdrider) April 7, 2022
`` Cyclists should pay road tax '' pic.twitter.com/ynSVQnVvaG
— Beatnik69 ( @ beatnik69) April 7, 2022
Rolling up to work on Monday and opening your inbox. pic.twitter.com/Xpa1oSQv1L
— Belinda ( @ reallyspoketome) April 7, 2022
Cruising down the high street and seeing your ex walking towards you. 😂 https: //t.co/tvyfUro7Tv
— Katherine L Bates OLY ( @ KatherineLBates) April 7, 2022
When a letter arrives from student finance and you choose not to read it https: //t.co/wfYk7lrLa3
— Dan Deakins ( @ DanDeakins) April 7, 2022
This is incredible. A supermarket magazine where nearly every page is about cycling. I 'm hoping for the next Tesco magazine to have an in-depth feature on Hugh Carthy. Preferably alongside a recipe for Lancashire hotpot. https: //t.co/GzviRpwT4Y
— Katy M ( @ writebikerepeat) April 6, 2022
Speaking of cycling supermarkets, the giant Lidl banana made a welcome return at Scheldeprijs yesterday:
Inflatable banana because nothing says Lidl quite like bananas # SPwomen pic.twitter.com/Q5VVHLb1sU
— Mathew Mitchell ( @ MatMitchell30) April 6, 2022
Now this is what you call a movie chase…
Born on this day, April 7, 1954: Jackie Chan, martial arts actor & filmmaker, here showing one of the less-celebrated uses of the bicycle: taking on gangsters in Old Hong Kong. Happy # bicyclebirthday, Jackie! # BOTD # bikesinfilms From Project A ( 1983) pic.twitter.com/rhvraT9jZw
— Cool Bike Art 🚴 ( @ CoolBikeArt1) April 7, 2022
Taken from 1983’ s action-comedy film Project A, the scene sees Jackie Chan’ s Sergeant Dragon Ma Yue Lung attempt to evade a gang of bike-riding gangsters through the tight, busy streets of late-nineteenth-century Hong Kong.
Chan, riding a bike sprayed in the Bianchi colours, shows he’ s got some serious tekkers, flicking a dog bowl with his front wheel, taking part in some on-bike jousting, and carrying out some emergency seatpost repairs after a painful-looking mechanical incident.
The video, shared to celebrate the legendary actor, filmmaker and martial artist’ s 68th birthday today, has inspired some Twitter users to advocate for more bike chases in action films:
The future is bicycle. We should have more action films with bike chases instead of # thatoldchestnut `` the car chase '' # hollywood # bicycle # precurser # tomorrow today # polmtl https: //t.co/33PYjMihe6
— Jason Prince ( @ JasonKPrince) April 7, 2022
On that topic, this Jason Statham-BMX collaboration, from 2008’ s Transporter 3, is pretty cool:
And though not quite a chase scene, even Bond rode a bike - barefooted - in 1983’ s ‘ unofficial’ Never Say Never Again:
Are there any other action films out there featuring bikes or cycling-related chases?
And what existing chase scenes could be dramatically improved by reshooting them with bikes instead of the clichéd old cars?
I’ m picturing the Italian Job with Raleighs instead of Mini Coopers…
Let us know in the comments!
As we say yesterday, the Tour of Britain’ s route announcement marks the start of an annual tradition, when needy cycling fans in the UK flock to Twitter to publicly express their disappointment that an eight-day, complicated stage race, with countless different stakeholders, doesn’ t venture within walking distance of their house.
> Hill-top finishes to bookend tough 2022 Tour of Britain route
In return, the Santa Clauses behind the Tour of Britain spend the morning of the announcement calmly – and often humorously – explaining the rationale behind the route to the moaning hordes. Saints, the lot of them.
Well, it seems as if the local press has also decided to join in the fun by celebrating this most venerable of cycling festivals.
This morning the Isle of Wight’ s County Press published an article about the race, the final stage of which will finish at the Needles Battery.
The story was accompanied by the tweet: ‘ Will the Tour of Britain cycle race go past your house?’
Got a lot of time for the local news reporters actively trying to tip @ nickbull21 over the edge. 👏 https: //t.co/XnNEz5ze5y
— Thomas Turner ( @ thomasturner) April 7, 2022
Now that is some proper trolling…
Don’ t encourage him. We beg! 😂
— Tour of Britain 🇬🇧 ( @ TourofBritain) April 7, 2022
Annoyingly I’ m going to need to walk 45 metres from my house to see it Nick. Sort it out.
— James Toney ( @ jtoneysbeat) April 7, 2022
Oblivious leisure cyclist spotted at the Tour of the Basque Country yesterday…
Loving the bloke bottom centre out for an afternoon ride on his bike with no idea some of the world's top cyclists are passing below that bridge at the same time to fight it out for the stage win at # Itzulia2022 🤣 pic.twitter.com/dSbjmy242V
— Simon MacMichael ( @ simonmacmichael) April 6, 2022
That cyclist must be one of the few locals who isn’ t constantly at the roadside cheering the riders on:
The Basque cycling fans are here! 😍 # Itzulia pic.twitter.com/EbcRqfQ0Ul
— Mihai Simion ( @ faustocoppi60) April 6, 2022
Well, at least they didn’ t do a Merlier…
I noticed that as well. For a split second I thought he was at the same level as them and was going to crash into them!
— CHAIRRDRF ( @ CHAIRRDRF) April 7, 2022
Remember, Paris wasn’ t “ always this way. ”
It wasn’ t even this way in late 2019 when I was there last.
Just a few years ago, Paris was choking in car traffic.
This is new. This is leadership.
Cities are a result of choices.
Video via @ Khayat Fouad pic.twitter.com/ZdNhAm8nlw
— Brent Toderian ( @ BrentToderian) April 7, 2022
Yesterday’ s men’ s Scheldeprijs race was a bit of an odd one to say the least.
Usually a race for the sprinters – Mark Cavendish is a three-time winner while Marcel Kittel won it five times during the 2010s – the peloton split to pieces in the crosswinds during the opening hour.
The rest of the day resembled the kind of pursuit race you’ d normally see at the Tuesday night club league, with 14 riders up front being chased by a 16-strong group which included pre-race favourite Fabio Jakobsen. The gap hovered around a minute for 150km, before the elastic finally snapped during the finishing circuits around Schoten.
# SP22 🇧🇪
WHOOHOO!!!
ALEXANDER KRISTOFF WINS @ Scheldeprijs AFTER 7 KM SOLO 🏆 pic.twitter.com/rRPErWVdP2
— Intermarché-Wanty-Gobert ( @ IntermarcheWG) April 6, 2022
Alexander Kristoff then took full advantage of the lack of cohesion in the front group to slip away on the cobbles with seven kilometres to go to take an impressive solo victory, continuing his Intermarché team’ s stellar classics campaign and cementing his own status as a serious contender for Paris-Roubaix in ten days’ time.
The win was also something of a collector’ s item for the big Norwegian – despite racking up 83 professional victories during his stellar career, including the Tour of Flanders and Milan-San Remo, Scheldeprijs marked the first ever time he’ s won a race by crossing the line on his own.
Despite having 83 professional victories to his name, @ Kristoff87 has never won a race solo...
Until today # Scheldeprijs pic.twitter.com/kLHLsnqUid
— GCN Racing ( @ GcnRacing) April 6, 2022
My first Solo win in 13 year’ s 🙌🏻 🥇 @ scheldeprijsofficial
What a race! crosswind, rain and full on racing all day 🚴🏻💨 So happy to take the win home for @ intermarchewg
📸 @ photonewsbelgium https: //t.co/3l3DmL4Al7
— Alexander Kristoff ( @ Kristoff87) April 6, 2022
If that all wasn’ t odd enough, Tim Merlier – who had just finished ninth after Alpecin-Fenix failed to capitalise on having two of the world’ s best sprinters in the winning move – decided to get out of the rain as quickly as possible by riding back down the course towards his team’ s bus.
Now we often we see riders heading back across the finish on mountain stages of grand tours, as the stragglers come past them in the opposite direction. We don’ t, however, often see it during a flat classic, as a dozen of the peloton’ s fastest finishers bolt for the line, spread out across the road.
Tim Merlier practicing for the cross season pic.twitter.com/VQ3iZOHf6b
— Cyclocross Social ( @ Cyclocrosss) April 6, 2022
Merlier, who later said he wasn’ t aware that anyone was still left in the race ( to be fair to him, only 30 riders finished, so he wasn’ t far wrong), had to quickly take evasive action as Jakobsen, De Lie and the rest barrelled towards him in the sprint for fourteenth.
Fortunately, he was able to throw his bike and then himself over the barriers just in time to prevent a potentially disastrous crash – spawning a few internet memes in the process:
[ Record scratch ]
Tim Merlier: “ Yup, that’ s me. You’ re probably wondering how I ended up in this situation. ” pic.twitter.com/pWXJPHBovW
— Spencer ↙️↙️↙️ ( @ spencerhaugh) April 6, 2022
Tim Merlier’ s mood as he cycled back to his team bus at # Scheldeprijs pic.twitter.com/2ueWHB1Bhr
— Arrière du peloton - Tom ( @ reardupeloton) April 7, 2022
Yeah I never had any problems going back down the road and having riders still coming in.
— Daniel Lloyd ( @ daniellloyd1) April 6, 2022
To give Tim his due, those barriers are fairly sizeable these days, no doubt forcing him to use all his cyclocross skills to get over them.
The Belgian sprinter was fined 200 Swiss Francs by the UCI and later apologised for the spot of post-race drama, saying “ it was by no means my intention to endanger anyone ”.
I’ d like to comment on what happened today after the race in Schoten. When I crossed the finish line to ride back to the team parking, I sincerely thought that all the riders had arrived, as I wasn’ t stopped and there was only one group behind us in the race.
— Tim Merlier ( @ MerlierTim) April 6, 2022
It was by no means my intention to endanger anyone, and I would like to apologize if I did
— Tim Merlier ( @ MerlierTim) April 6, 2022
The weird and wonderful world of cycling, eh?
Ryan joined road.cc as a news writer in December 2021. He has written about cycling and some ball-centric sports for various websites, newspapers, magazines and radio. Before returning to writing about cycling full-time, he completed a PhD in History and published a book and numerous academic articles on religion and politics in Victorian Britain and Ireland ( though he remained committed to boring his university colleagues and students with endless cycling trivia). He can be found riding his bike very slowly through the Dromara Hills of Co. Down.
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DTEX i3 Team Q & A: The Super Malicious Insider | Earlier this year we published an in-depth report on the insider risk landscape for 2022, with research from the DTEX i3 Team and real-life investigations they’ ve led. Last year we saw remote work become the norm, employees being targeted by hackers more than ever, and the rise of the Super Malicious Insider.
Our recent webinar, “ A New Threat Emerges—The Rise of the Super Malicious Insider ” detailed findings of the report and gave listeners a chance to ask questions about this ever-evolving threat, with DTEX insider threat experts Armaan Mahbod and Andy London. We’ ve highlighted a few of the questions and answers from the webinar below:
Q. “ Has the risk of insider threat increased due to remote work during the COVID pandemic? ” A. Of course. Employees are not in the office, are not being micromanaged. They have full control over their activities within the privacy of their homes or work areas. They’ re comfortable. The fact that you can be on a call and have yourself muted and have your video off, this enables comfortability. In many organizations, though they may be innovative, haven’ t shifted to a mentality of increased security, for fear of losing that employee privacy; so there are a lot of available opportunities for people to take advantage of and become insider threats.
Q. “ Do you believe that IT insider threat teams should directly be involved in identity access management for discussions on tightening up access? ” A. From what we’ ve seen, especially in mature organizations that are shifting, is that insider threat is becoming a separate entity from the SOC. Insider threat teams should act on their own volition, but again, should be in conversation with other parts of the organization. Internal threats are just as costly and detrimental to the business as internal threats. So insider risk programs should be right up there with your other cyber security efforts. And the data sets that generally come from our solution, that we’ ve seen in larger organizations, are a part of every entity. Privilege escalation, identity management, the list goes on.
Q. “ How does DTEX help protect the privacy of individuals, while carrying out this monitoring? The vast majority of employees are honest and shouldn’ t be treated like criminals when they aren’ t. That’ s a reality too, is it not? ” A. There’ s a couple of aspects here related to privacy that we should address. One, we’ re not like the traditional data loss prevention tool that’ s monitoring content. We’ re not reading emails, we’ re not reading chat sessions, we’ re not cracking open documents and reading everyone’ s intellectual property. We are simply collecting metadata of behavior and tracking it from a behavior-based perspective versus a content-based perspective, so we’ re not collecting credit card numbers and social security numbers, etc. Secondly, built-in to DTEX InTERCEPT is our pseudonymization feature. We actually have a patent for this technology. What this does, is allow administrators and system users to hide users, user names, IP addresses, basically any fields that you want, so that only when an escalation occurs do you have access to the information. From a GDPR perspective, we’ re able to provide that level of privacy until the risk level gets to the point where you need to decode that username, so that’ s how we’ re addressing privacy today. Also, for some organizations, they’ re rarely concerned about risk bias, so this feature is helpful. At the same time, the more you mask the data, the more difficult it is for an analyst to discern risk, but at the end of the day, the data speaks for itself.
Q. “ You mentioned a specific case where a couple were accused of viewing indecent images of children, but it wasn’ t actually them, it was someone using their IP address without their knowledge. So how did you know it wasn’ t them? Did you have additional information? A. We always have conversations about identifying risks, identifying threats, and mitigating those things. But what is funny is that, especially over the last few years with the increase in remote work, when somebody is at home, they’ re on their home Wi-Fi, as well as their corporate Wi-Fi, in many cases. People aren’ t as locked down at home as you’ d like them to be in the corporate office, right? So we’ ve gone through a few incidents where an organization was actually identified and one individual or device seemed to be brute forcing to a server. And actually, when looking at our data, it wasn’ t the individual who was logged in. There was no window activity, there was nobody behind the actual physical asset. What we noticed was there was actually a bunch of network interface activity. And so the take away was, “ Hey, this user wasn’ t the actual problem. It was actually the fact that their Wi-Fi was compromised. ”
Q. “ You mention in the report that you are not publishing the threat indicators around Super Malicious Insiders, but can you share any tips around identifying the profile when they are orchestrating others? ” A. There’ s a baseline factor, so there are some oddities in certain aspects. In terms of the exfiltration steps, sometimes individual doesn’ t have the opportunity to actually go out and convince others to perform actions, or others around them are more cyber aware. One thing in an organization that’ s really important is to make people aware of these things, and the possibility of others within the organization involving them. Everyone’ s on the same team here, but there are cases where they may actually not be. So being aware of things where people are trying to ask you to do certain things for them. Maybe question it, ask your boss, have that double validation.
Q. “ What about external actors soliciting information from insiders? ” A. MITRE recently put out a study, with regards to people being compromised through LinkedIn, by being offered new jobs. They were offered a great job opportunity, great pay, great title increase, etc….but…then also asked if they would share certain data from the company, or give them access to internal tools. Things of this nature happen all the time.
Q. “ Have you seen situations where your solution would have that identified user behavior that resulted in exfiltration from databases? ” A. Yes, absolutely, especially in critical infrastructure. Access to servers, databases, using SQL to archive or aggregate data, and exfiltrate that via remote desktop or similar activities. Time and time again, that’ s been a problem area and we suggest to our customers to cover the full audit trail. Not just endpoints, not people’ s work stations, sometimes they’ re just the start of the compromise, like a ransomware or a phishing attack or other forms of compromise. But then at the same time, making sure we know what their access is, and sometimes it’ s not as locked down as you may believe. Being able to identify that is really important. We’ ve seen use cases where administrators who have access to the system, but maybe not to certain folders, escalate their privileges to areas in the file system they’ re not supposed to have access to and they were able to exfiltrate data that way. So monitoring what’ s going on in the servers is very important and we recommend not only deploying to work stations, but servers as well for that complete coverage.
We do hold briefings for approved customers and for approved individuals. The DTEX i3 Team is always open to communications and if you need assistance or education, please feel free to reach out.
Listen to the full webinar on-demand here and download the DTEX 2022 Insider Risk Threat Report now.
The post DTEX i3 Team Q & A: The Super Malicious Insider appeared first on DTEX Systems Inc.
* * * This is a Security Bloggers Network syndicated blog from DTEX Systems Inc authored by Armaan Mahbod. Read the original post at: https: //www.dtexsystems.com/blog/dtex-i3-team-qa-the-super-malicious-insider/ | general |
Biophytis Announces 2021 Operational and Financial Results and Gives Updates on 2022 perspectives | Biophytis / Key word ( s): Annual Results Biophytis Announces 2021 Operational and Financial Results and Gives Updates on 2022 perspectives 07-Apr-2022 / 08:00 CET/CEST
Biophytis Announces 2021 Operational and Financial Results and Gives Updates on 2022 perspectives
Paris, France, Cambridge ( Massachusetts, United States), April 7th, 2022 - 8am CET - Biophytis SA ( NasdaqCM: BPTS, Euronext Growth Paris: ALBPS), ( `` Biophytis '' or the `` Company ''), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, today announces its non audited financial results for the year ended December 31, 2021, and provides updates on key operational achievements as well as perspectives for 2022.
Stanislas Veillet, President and CEO of Biophytis, declares: `` 2021 was a very busy year for Biophytis, both for our financing and for the execution of our clinical studies. We have succeeded in listing the Company on Nasdaq in February 2021, which now allows us to be present in the most important market in the world for investment in Biotech. We also renewed our instruments with historical partners: Atlas and Kreos Capital, for a total of? 42M of new financings. Those new instruments, together with our? 24 millions of cash at the end of December 2021 should allow a good financial visibility for the development of the Company.
Regarding the projects, after having launched COVA - our international study in Covid-19 in 2020 - the whole Company was focused in 2021 on patient recruitment. Based on the independent DMC review of our study in September 2021 based on the first 155 patients, Sarconeos ( BIO101) was demonstrating efficacy in the `` promising zone '' for respiratory manifestations linked to COVID-19. This interim result was very important for us to progress the study into its last phase. Since then, the health situation has changed. The number of hospitalized patients has decreased, due to a lower severity from the Omicron variant, and to the strong progression of collective immunization. Therefore, we have taken the decision to early terminate patient enrolment into the COVA study, in order to be able to report results by Q3 2022. In the meantime, we will have the opportunity to bring Sarconeos ( BIO101) to some patients in Brazil, in the framework of an Expanded Access Program ( EAP) for which we obtained authorization from ANVISA last December 2021.
Lastly, 2021 was also a landmark year for SARA, our phase 2 trial in Sarcopenia. We achieved the study with encouraging results, despite a reduced cohort having performed the full test of our primary endpoint: the 400MWT test, due to restrictions during the pandemic. We are now exchanging with FDA for the preparation our phase 2-3 study and assuming authorizations are obtained, we expect to enroll our first patient in by H2 2022.
In a global very unstable context since two years, we have demonstrated our capacity to adapt, while progressing the development of our main assets. We are still concentrating on the Company key objective, which is to bring to the market the products coming from our research. ''
Major operational milestones achieved during 2021:
2022 outlook and perspectives:
To date, 237 patients have been recruited in our COVA study. Due to the evolution of the pandemic in the territories of our studies which are presenting high vaccination and collective immunization rates, provided the predominance of the Omicron variant which involve significantly lower number of hospital cases, patient recruitment has strongly slowed down and then stopped since the first months of 2022. In this context, we have decided to early terminate patient enrollment, and plan to report the results of this trial by Q3 2022.
Following the first type C meeting with FDA in January 2022, a second type C meeting is planned in Q3 2022 to discuss the Phase 2-3 protocol. The objective is to have a FPI ( First patient In) for this study during H2 2022. We also plan to have discussions with EMA during H2 2022, in order to obtain scientific advice on the Phase 2 results and the progression toward a phase 2-3. These plans remain subject to regulatory authorizations and procedures, any delays in patient recruitment or retention, interruptions in sourcing or supply chain, and to COVID-19-related delays.
After an IND `` may proceed '' letter from the FDA ( USA) in December 2019, in March 2021 Biophytis received approval from the Belgian FAMHP to proceed with its clinical investigation of Sarconeos ( BIO101) in non-ambulatory patients with DMD. However due to the COVID-19 situation and its impact on our operational capabilities, the MYODA study has been delayed to end of 2022 or beginning of 2023 depending on the evolution of the pandemic.
Annual 2021 Financial Results
The Company's annual 2021 non-audited consolidated financial statements prepared in accordance with IFRS were reviewed by the Company's Board of Directors on April 4, 2022. Audit procedures are being completed, the issuance of the audit report is pending, and will be included in the Company's upcoming 2021 annual financial report and SEC Form 20-F, respectively to be filed with AMF and SEC.
* Cash and cash equivalents and short-term deposits included in other current financial assets. Cash and cash equivalents and short-term deposits included in other current financial assets as of December 31, 2021 were? 23.9 million, a significant increase of? 5.6 million compared to? 18.3 million as of December 31, 2020.
The table below summarizes the non audited profit and loss statement.
* Research and Development Expenses. Net research and development expenses were? 19.7 million for 2021, an increase of? 9.8 million, compared to? 9.9 million in 2020. This increase is mainly reflecting the progression of the COVA program from Phase 1 to Phase 2, the finalization of SARA-INT, our phase 2 trial in Sarcopenia, as well as the scaling up of Sarconeos ( BIO101) to prepare for potential registration.
Net research and development expenses included research tax credits ( French 'Crédit d'Impôt Recherche ', or CIR) totaling? 4 million in 2021 compared to? 3.3 million in 2020.
* General and Administrative Expenses. General and administrative expenses were? 7.2 million for 2021 compared to? 4 million for 2020, an increase of? 3.2 million, primarily in connection with our listing on Nasdaq, and to higher personnel costs.
* Net Loss. Net loss was? 31.2 million for 2021, as compared to? 25.5 million for 2020. Net loss per share ( based on weighted-average number of shares outstanding over the period except the treasury shares) was? 0.26 in 2021 compared to? 0.43 in 2020.
Appointments:
Biophytis has reinforced its management teams through the nominations of: Benoit Canolle as Chief Business Officer, and Rob Van Maanen as Chief Medical Officer in 2021, then Philippe Rousseau as Chief Financial Officer in April 2022, upon departure of Evelyne Nguyen
At the Board level, Claude Allary serves as Independent Director since July 2021, replacing Jean Franchi.
Reminder of key operational events
( more details are provided in our press releases as available on Biophytis's website: www.biophytis.com)
Reminder of key financial events
On February 12, 2021, the Company closed its previously announced initial public offering on the Nasdaq Capital Market by way of a capital increase of 12,000,000 ordinary shares represented by 1,200,000 American Depositary Shares ( `` ADSs ''), with each ADS representing 10 ordinary shares, at a price of $ 16.75 per ADS. Total gross proceeds were approximately $ 20.1 million. The Company received net proceeds of approximately $ 16.35 million or? 13.5 million, after deducting underwriting discounts and commissions, management fee and offering expenses payable by the Company. Since February 10, 2021, Biophytis ADSs are listed on Nasdaq Capital Market ( US trading ticker: BPTS)
In October 2021 the Company signed a new line of financing through Bonds Redeemable in Cash and New and Existing Shares ( ORNANE) with Atlas, a specialized investment fund based in New York - USA, for? 32 million. The new financing instrument allows the issuance of 1280 bonds with an option for exchange in cash and/or conversion into new or existing shares ( ORNANE). The? 32 million total financing can be drawn by Biophytis over the next three years, without obligation, through 8 successive tranches of? 4 million each, subject to the issuance of the last tranche under the previous Atlas Contract. This last tranche occurred in December 2021.
At the beginning of April 2022, the Company has drawn a first tranche of? 4 million from this contract.
As of April 5th 2022, based on 147 541 024 outstanding shares, assuming conversion on this day and a conversion price equal to 96% of the pricing period VWAP of? 0.22, dilution is reflected as follows:
Impact on a shareholder's 1% stake in the Company's capital prior to the transaction
Non diluted
Diluted
Before issuing of new ORNANE
Upon conversion of the ORNANE from tranche 1 of the 2021 Atlas contact: issuing of 18 117 202 additional shares
1.00%
0.89%
0.94%
0.84%
In November 2021, the Company as secured a? 10 million total loan with Kreos Capital comprising of four tranches of respectively? 2.5 million,? 3.0 million,? 2.5 million and? 2.0 million. The two first tranches were drawn upon signing of the contract on November 19, 2021. Besides the loan, Kreos Capital will receive Biophytis ' share warrants ( `` bons de souscription d'action '' or `` BSA '') for a total of approximately? 1 million.
Over the? 10 million total bonds,? 7.75 million were in straight bonds, and? 2.25 million were in convertible bonds to be fully repaid after 36 months. Interest shall accrue on the outstanding principal at fixed interest rates of respectively 10.00% and 9.50% per annum.
* * * *
| business |
Inventiva announces the presentation of a scientific | Daix ( France), Long Island City ( New York, United States), April 7, 2022 – Inventiva ( Euronext Paris and Nasdaq: IVA), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of non-alcoholic steatohepatitis ( NASH) and other diseases with significant unmet medical needs, today announced that the abstract “ Lanifibranor, a pan-PPAR agonist, improves markers of cardiometabolic health in patients with NASH ” has been selected for oral presentation during the third International Conference on Fatty Liver to be held from the 28th to the 30th of April 2022 in Vienna, Austria.
This abstract focuses on the improvement of markers of cardiometabolic health in patients with NASH treated with lanifibranor versus placebo. NASH is a multisystemic disease and often occurs with other metabolic conditions, such as atherosclerosis and type-2 diabetes. In Inventiva’ s Phase IIb clinical trial ‘ NATIVE’, lanifibranor has demonstrated beneficial effects on liver histology, NASH resolution and fibrosis improvement in patients with NASH. Cardiovascular events are a major cause of morbidity and mortality in patients with NASH. Based on the NATIVE data, the authors show that lanifibranor has also beneficial effects on a broad panel of markers of cardiometabolic health including dyslipidemia, hyperglycemia, insulin resistance, inflammation, blood pressure and hepatic steatosis measured by ultrasound guided Controlled Attenuation Parameter ( CAP).
Inventiva is a clinical-stage biopharmaceutical company focused on the research and development of oral small molecule therapies for the treatment of NASH and other diseases with significant unmet medical need. The Company benefits from a strong expertise and experience in the domain of compounds targeting nuclear receptors, transcription factors and epigenetic modulation. Inventiva’ s lead product candidate, lanifibranor, is currently in a pivotal Phase III clinical trial, NATiV3, for the treatment of adult patients with NASH, a common and progressive chronic liver disease for which there are currently no approved therapies.
The Company has established a strategic collaboration with AbbVie in the area of autoimmune diseases that resulted in the discovery of the drug candidate cedirogant ( ABBV-157), an oral RORg inverse agonist which is being evaluated in a Phase IIb clinical trial, led by AbbVie, in adult patients with moderate to severe chronic plaque psoriasis. Inventiva’ s pipeline also includes odiparcil, a drug candidate for the treatment of adult mucopolysaccharidoses ( MPS) VI patients. As part of Inventiva’ s decision to focus clinical efforts on the development of lanifibranor, it suspended clinical efforts relating to odiparcil and is reviewing available options with respect to its potential further development. Inventiva is in the process of selecting an oncology development candidate for its Hippo signalling pathway program.
The Company has a scientific team of approximately 80 people with deep expertise in the fields of biology, medicinal and computational chemistry, pharmacokinetics and pharmacology, and clinical development. It owns an extensive library of approximately 240,000 pharmacologically relevant molecules, approximately 60% of which are proprietary, as well as a wholly‑owned research and development facility.
Inventiva is a public company listed on compartment C of the regulated market of Euronext Paris ( ticker: IVA - ISIN: FR0013233012) and on the Nasdaq Global Market in the United States ( ticker: IVA). www.inventivapharma.com.
This press release contains “ forward-looking statements ” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These statements include, but are not limited to, forecasts and estimates with respect to Inventiva’ s pre-clinical programs and clinical trials, clinical trial data releases, pipeline and preclinical and clinical development plans, anticipated milestones, milestone payments, royalties and product sales, future activities, expectations, plans and prospects of Inventiva, the sufficiency of Inventiva’ s cash resources and expectations with respect to the potential commercial success and potential revenues of Inventiva’ s product candidates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “ believes ”, “ anticipates ”, “ expects ”, “ intends ”, “ plans ”, “ seeks ”, “ estimates ”, “ may ”, “ will ”, “ would ”, “ could ”, “ might ”, “ should ”, and “ continue ” and similar expressions. Such statements are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management's beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements. Actual events are difficult to predict and may depend upon factors that are beyond Inventiva's control. There can be no guarantees with respect to pipeline product candidates that the clinical trial results will be available on their anticipated timeline, that future clinical trials will be initiated as anticipated, that product candidates will receive the necessary regulatory approvals, or that any of the anticipated milestones by Inventiva or its partners will be reached on their expected timeline, or at all. Actual results may turn out to be materially different from the anticipated future results, performance or achievements expressed or implied by such statements, forecasts and estimates, due to a number of factors, including, that Inventiva is a clinical-stage company with no approved products and no historical product revenues, Inventiva has incurred significant losses since inception, Inventiva has a limited operating history and has never generated any revenue from product sales, Inventiva will require additional capital to finance its operations, Inventiva's future success is dependent on the successful clinical development, regulatory approval and subsequent commercialization of current and any future product candidates, preclinical studies or earlier clinical trials are not necessarily predictive of future results and the results of Inventiva's clinical trials may not support Inventiva's product candidate claims, Inventiva may encounter substantial delays in its clinical trials or Inventiva may fail to demonstrate safety and efficacy to the satisfaction of applicable regulatory authorities, enrolment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside Inventiva's control, Inventiva's product candidates may cause adverse drug reactions or have other properties that could delay or prevent their regulatory approval, or limit their commercial potential, Inventiva faces substantial competition and Inventiva’ s business, and preclinical studies and clinical development programs and timelines, its financial condition and results of operations could be materially and adversely affected by the COVID-19 pandemic and geopolitical events, such as the conflict between Russia and Ukraine, which could delay the initiation, enrolment and completion of Inventiva’ s clinical trials on anticipated timelines or at all. Given these risks and uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of this press release. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
Please refer to the Universal Registration Document for the year ended December 31, 2020 filed with the Autorité des Marchés Financiers on March 15, 2021, the Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 15, 2021 as well as the half-year financial report for the six months ended June 30, 2021 for additional information in relation to such factors, risks and uncertainties, in addition to the Universal Registration Document for the year ended December 31, 2021 filed with the Autorité des Marchés Financiers on March 11, 2022 and the Annual Report on Form 20-F for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 11, 2022.
All information in this press release is as of the date of the release. Except as required by law, Inventiva has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently, Inventiva accepts no liability for any consequences arising from the use of any of the above statements. | general |
Bangladesh, Sri Lanka, Nepal and Bhutan Automotive Industry | Trends driving the Automotive Industry in Nepal: Nepal does not have any indigenous Automotive manufacturing company. Majority of the vehicles are associated with Japanese companies. This makes the country heavily reliant on the imports of the vehicles. The two-wheeler market is getting more favour from the consumer than four wheeler and heavy vehicles.
Public Transport has a major impact on Automotive Sales: The public transport in Nepal is privately financed which makes the costing and pricing the tariff a profit driven enterprise. Public transport in Nepal faces a major bottleneck of congestion as well. From 2005 to 2018, vehicle registration in Nepal increased at an annual growth rate of 14% as per the findings of a baseline fuel economy study. This growth clearly indicates how rapid urbanisation has fuelled motorisation across the country. In 2018, according to the Department of Transport Management, 96% of passenger vehicles registered were private vehicles. Public transport vehicles represent only 4% of the total registered vehicle fleet, but the travel mode share of public transport is almost equal to that of private vehicles. The situation was worsened by pandemic, increasing the sale of two wheelers since they are cheaper than four wheelers.
Impact of Covid-19: In 2019, the country was hit with a nationwide lockdown due to COVID and this was implemented in the peak sales season. For example, 50% of Yamaha's sales were made in this season but due to COVID, the sales in 2020 were reported as 0. After the lockdown was lifted on July 21, industry executives said they were hopeful that things would get better. Accordingly, they started launching schemes and discounts offers. There was a massive increase in sales for 2 wheelers as people were hesitant to travel in any mode of public transport.
Analysts at Ken Research in their latest publication '' Automotive Industry Outlook to 2025- Coverage on Bhutan, Sri Lanka, Bangladesh and Nepal '' provides a comprehensive analysis of growth of Automotive sector in Nepal, Bhutan, Bangladesh and Sri Lanka. The report covers various aspects including Market Size, Total Number of players, market Share by type of OEM and by type of Vehicle. The report also focuses on the Impact of Covid-19 on the industry and provides insights from the experts on the trends in sector.
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The concept of two wheeler rental is not a new concept in India. Tourist destinations like Leh & Ladakh, Kerala and Goa are full of two wheeler renting vendors offering affordable bikes to tourists for leisure. It is also solving the major problem of last mile connectivity and micro mobility in metro cities and semi urban cities where hardly any public transportation is seen. Undoubtedly, the concept of two wheeler renting is booming in the country. With the quest to make bike renting quicker and hassle free process, several startups and vendors are working on their unique business models. Interesting startups and their unique offerings are building up a successful bike rental market in India. The market has attained speedy growth over the period of three years from FY'2017 to FY'2020. Major companies like Bounce, Vogo, Royal Brothers, Onn Bikes, Yulu Bikes, etc. have entered the entered the market in last 5-6 years and since then the market has evolved drastically.
The used car industry in Saudi Arabia has grown at a CAGR of 0.8% on the basis of gross transaction value over the period 2014-2019 and declined at a CAGR of -2.4% on the basis of sales volume. The departure of expats from the country and the economic instability contributed to the decline in sales during 2016-2017. The addition of women drivers and the high levels of disposable income in the country are one of the major growth drivers of the industry. Boom in the number of online auto-classified platforms and the traction of the consumers towards online platforms is contributing to the inclining used car sales in the country.
The Used Car industry in Indonesia has grown at a CAGR of 4.5% on the basis of gross transaction value over the period 2014-2019 and at a CAGR of 2.0% on the basis of sales volume. The overall economic slowdown, as well as the slowdown of the automotive industry due to a reduction in purchasing power of consumers, contributed to the decline in sales during 2016-2017. The entry of various financing companies in the used car industry, as well as the launch of OEM-certified used car programs, has been the major growth drivers of the industry. The boom in the number of online auto-classified platforms and the traction of the consumers towards online platforms is contributing to the inclining used car sales in the country.
Philippines Used Car market is in its growth phase, having grown at a CAGR of 7.4% ( by value in PHP Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increasing per capita income, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in the Philippines.
Contact Us: -Ken ResearchAnkur Gupta, Head Marketing & Communicationssupport @ kenresearch.com+91-9015378249 | general |
Monthly information on share capital and company voting | April 07, 2022 16:30 ET | Source: Cellectis Inc. Cellectis Inc.
Cellectis is a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies. Cellectis utilizes an allogeneic approach for CAR-T immunotherapies in oncology, pioneering the concept of off-the-shelf and ready-to-use gene-edited CAR T-cells to treat cancer patients, and a platform to make therapeutic gene editing in hemopoietic stem cells for various diseases. As a clinical-stage biopharmaceutical company with over 22 years of expertise in gene editing, Cellectis is developing life-changing product candidates utilizing TALEN®, its gene editing technology, and PulseAgile, its pioneering electroporation system to harness the power of the immune system in order to treat diseases with unmet medical needs. As part of its commitment to a cure, Cellectis remains dedicated to its goal of providing lifesaving UCART product candidates for multiple cancers including acute myeloid leukemia ( AML), B-cell acute lymphoblastic leukemia ( B-ALL) and multiple myeloma ( MM)..HEAL is a new platform focusing on hemopoietic stem cells to treat blood disorders, immunodeficiencies and lysosomal storage diseases. Cellectis’ headquarters are in Paris, France, with locations in New York, New York and Raleigh, North Carolina. Cellectis is listed on the Nasdaq Global Market ( ticker: CLLS) and on Euronext Growth ( ticker: ALCLS).
AlloCAR T™ is a trademark of Allogene Therapeutics, Inc.For more information, visit www.cellectis.comFollow Cellectis on social media: @ cellectis, LinkedIn and YouTube.
For further information, please contact: Media contacts: Pascalyne Wilson, Director, Communications, +33 ( 0) 7 76 99 14 33, media @ cellectis.comMargaret Gandolfo, Senior Manager, Communications, +1 ( 646) 628 0300
Investor Relation contact: Arthur Stril, Chief Business Officer, +1 ( 347) 809 5980, investors @ cellectis.com Ashley R. Robinson, LifeSci Advisors, +1 617 430 7577
This press release contains “ forward-looking ” statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “ anticipate, ” “ believe, ” “ intend ”, “ expect, ” “ plan, ” “ scheduled, ” “ could ” and “ will, ” or the negative of these and similar expressions. These forward-looking statements, which are based on our management’ s current expectations and assumptions and on information currently available to management. Forward-looking statements include statements about the timing of our presentation of data and submission of regulatory filings, the adequacy of our supply of clinical vials, the operational capabilities at our manufacturing facilities, and the sufficiency of cash to fund operation. These forward-looking statements are made in light of information currently available to us and are subject to numerous risks and uncertainties, including with respect to the numerous risks associated with biopharmaceutical product candidate development as well as the duration and severity of the COVID-19 pandemic and governmental and regulatory measures implemented in response to the evolving situation. With respect to our cash runway, our operating plans, including product development plans, may change as a result of various factors, including factors currently unknown to us. Furthermore, many other important factors, including those described in our Annual Report on Form 20-F and the financial report ( including the management report) for the year ended December 31, 2021 and subsequent filings Cellectis makes with the Securities Exchange Commission from time to time, as well as other known and unknown risks and uncertainties may adversely affect such forward-looking statements and cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. | general |
Global Cosmetic Skin Care Market Size-Share ( 2022-2027) | The Cosmetic Skin Care Market provides vital information about the global, regional, and top companies, such as Cosmetic Skin Care market share analysis, winning strategies, latest developments, and financials. Aside from giving information on the top participants in the Cosmetic Skin Care market, the study also recalculates the influence of macroeconomic and microeconomic factors that may have an impact on the Cosmetic Skin Care market’ s development. The report begins with an overview of the industrial chain structure, followed by a description of the increasing trend. Furthermore, the study examines market size and predictions for several geographic areas, kinds, and end-use sectors. Identifying strengths, weaknesses, opportunities, and threats results in fact-based analysis, new insights, increased revenue, historical data, and predicting new ideas.
The Cosmetic Skin Care market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. The Cosmetic Skin Care Market key insights have been presented through the frameworks of SWOT and Porter’ s Five Forces analysis along with the attractiveness of the market has been presented by sales, revenue, distribution channel, product type, and region.
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Cosmetics are substances or products used to enhance or alter the appearance of the face or fragrance and texture of the body. Many cosmetics are designed for use of applying to the face, hair, and body.... This broad definition includes any material intended for use as a component of a cosmetic product.Skincare is one of the biggest categories of cosmetic products, which mainly include skin moisturizers, creams, powders, essential oils, toners, serums, etc.The global Cosmetic Skin Care market was valued at US $ 55070 million in 2020 and is expected to reach US $ 89550 million by the end of 2027, growing at a CAGR of 7.1% during 2021-2027.
Cosmetic Skin Care Market study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market. Geographical and demographic data on the global Cosmetic Skin Care market aims to determine the characteristics manufacturers need to include to meet the dynamics of the current market. The survey then deepens the best international players in the industry. This helps collect statistics on the revenue, products, growth, and other aspects of large companies.
We have been tracking the direct impact of COVID-19 on this market, as well as the indirect impact from other industries. This report analyzes the impact of the pandemic on the Cosmetic Skin Care market from a Global and Regional perspective. The report outlines the market size, market characteristics, and market growth for Cosmetic Skin Care industry, categorized by type, application, and consumer sector. In addition, it provides a comprehensive analysis of aspects involved in market development before and after the Covid-19 pandemic. Report also conducted a PESTEL analysis in the industry to study key influencers and barriers to entry.
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The market is fragmented due to the presence of a large number of regional and local enterprises from various nations. Mergers, expansions, acquisitions, and collaborations, as well as new product development, are emphasised as strategic strategies utilised by major firms to boost customer brand awareness. The market’ s leading businesses invest extensively in research and development to increase the effectiveness of their products and eliminate negative effects.
This report provides an analytical representation of the global Cosmetic Skin Care Market, current trends, and future projections in order to discover prospective investment possibilities. The report contains a comprehensive analysis of the global Cosmetic Skin Care market share, as well as data on major drivers, constraints, and opportunities. The study provides a complete market analysis based on competitive intensity and how the competition will evolve in the next years.
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The scope of the report includes worldwide and regional markets, as well as a complete analysis of the market’ s overall development prospects. It also highlights the global marketplace’ s broad competitive environment. This research also includes an overview of leading companies, including the most recent effective marketing techniques, market contributions, and present and historical context. The Cosmetic Skin Care Market is is segmented by product type and end-user industry/application. Growth across segments is used to identify the many growth factors that are predicted to dominate the market as a whole, as well as to design diverse tactics to distinguish between key applications and target markets.
The research report provides an analysis of the various factors driving the markets growth. It creates trends, constraints and impulses that change the market in a positive or negative direction. This section also discusses the various segments and applications that could affect the future market. The report includes a comprehensive boundary condition assessment that compares drivers and provides strategic planning.
Global and country analyses are some of the main metrics used to predict domestic market scenarios. It takes into account the presence and availability of global brands, the problem of strong or little competition with local and domestic brands, and the impact of national tariffs and trade routes on country data projections.
Key Reasons to Purchase: - Gained an analysis of market insights and a comprehensive understanding of the Global Cosmetic Skin Care Market and commercial environment.- To mitigate development risk, the production process evaluates key problems and solutions.- Recognize the driving forces and impediments that have the biggest influence on covid-19 in the Cosmetic Skin Care market, as well as its worldwide market.- Explains the market strategies adopted by each major institution.- Understand the Cosmetic Skin Care Market's future view and forecast.- In addition to standard structure reports, we also offer custom studies tailored to specific requirements.
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1 Cosmetic Skin Care Market Overview 1.1 Product Overview and Scope of Cosmetic Skin Care 1.2 Cosmetic Skin Care Segment by Type 1.2.1 Global Cosmetic Skin Care Sales Growth Rate Comparison by Type ( 2021-2027) 1.2.2 Skin Moisturizers 1.2.3 Skin Cleansing Lotions 1.2.4 Skin Facial Masks 1.2.5 Skin Shaving Creams 1.2.6 Skin Serums 1.2.7 Others 1.3 Cosmetic Skin Care Segment by Application 1.3.1 Global Cosmetic Skin Care Sales Comparison by Application: ( 2021-2027) 1.3.2 Supermarkets and Grocery Retailers 1.3.3 Beauty Specialist Retail Outlets 1.3.4 Factory Outlets 1.3.5 Online Sales 1.4 Global Cosmetic Skin Care Market Size Estimates and Forecasts 1.4.1 Global Cosmetic Skin Care Revenue 2016-2027 1.4.2 Global Cosmetic Skin Care Sales 2016-2027 1.4.3 Cosmetic Skin Care Market Size by Region: 2016 Versus 2021 Versus 20272 Cosmetic Skin Care Market Competition by Manufacturers 2.1 Global Cosmetic Skin Care Sales Market Share by Manufacturers ( 2016-2021) 2.2 Global Cosmetic Skin Care Revenue Market Share by Manufacturers ( 2016-2021) 2.3 Global Cosmetic Skin Care Average Price by Manufacturers ( 2016-2021) 2.4 Manufacturers Cosmetic Skin Care Manufacturing Sites, Area Served, Product Type 2.5 Cosmetic Skin Care Market Competitive Situation and Trends 2.5.1 Cosmetic Skin Care Market Concentration Rate 2.5.2 The Global Top 5 and Top 10 Largest Cosmetic Skin Care Players Market Share by Revenue 2.5.3 Global Cosmetic Skin Care Market Share by Company Type ( Tier 1, Tier 2 and Tier 3) 2.6 Manufacturers Mergers & Acquisitions, Expansion Plans3 Cosmetic Skin Care Retrospective Market Scenario by Region 3.1 Global Cosmetic Skin Care Retrospective Market Scenario in Sales by Region: 2016-2021 3.2 Global Cosmetic Skin Care Retrospective Market Scenario in Revenue by Region: 2016-2021 3.3 North America Cosmetic Skin Care Market Facts & Figures by Country3.4 Europe Cosmetic Skin Care Market Facts & Figures by Country3.5 Asia Pacific Cosmetic Skin Care Market Facts & Figures by Region3.6 Latin America Cosmetic Skin Care Market Facts & Figures by Country3.7 Middle East and Africa Cosmetic Skin Care Market Facts & Figures by Country
4 Global Cosmetic Skin Care Historic Market Analysis by Type 4.1 Global Cosmetic Skin Care Sales Market Share by Type ( 2016-2021) 4.2 Global Cosmetic Skin Care Revenue Market Share by Type ( 2016-2021) 4.3 Global Cosmetic Skin Care Price by Type ( 2016-2021) 5 Global Cosmetic Skin Care Historic Market Analysis by Application 5.1 Global Cosmetic Skin Care Sales Market Share by Application ( 2016-2021) 5.2 Global Cosmetic Skin Care Revenue Market Share by Application ( 2016-2021) 5.3 Global Cosmetic Skin Care Price by Application ( 2016-2021) 6 Key Companies Profiled 6.1 L'Oreal S.A 6.1.1 L'Oreal S.A Corporation Information 6.1.2 L'Oreal S.A Description and Business Overview 6.1.3 L'Oreal S.A Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.1.4 L'Oreal S.A Cosmetic Skin Care Product Portfolio 6.1.5 L'Oreal S.A Recent Developments/Updates 6.2 Unilever 6.2.1 Unilever Corporation Information 6.2.2 Unilever Description and Business Overview 6.2.3 Unilever Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.2.4 Unilever Cosmetic Skin Care Product Portfolio 6.2.5 Unilever Recent Developments/Updates 6.3 Procter & Gamble 6.3.1 Procter & Gamble Corporation Information 6.3.2 Procter & Gamble Description and Business Overview 6.3.3 Procter & Gamble Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.3.4 Procter & Gamble Cosmetic Skin Care Product Portfolio 6.3.5 Procter & Gamble Recent Developments/Updates 6.4 Beiersdorf 6.4.1 Beiersdorf Corporation Information 6.4.2 Beiersdorf Description and Business Overview 6.4.3 Beiersdorf Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.4.4 Beiersdorf Cosmetic Skin Care Product Portfolio 6.4.5 Beiersdorf Recent Developments/Updates 6.5 Avon Products 6.5.1 Avon Products Corporation Information 6.5.2 Avon Products Description and Business Overview 6.5.3 Avon Products Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.5.4 Avon Products Cosmetic Skin Care Product Portfolio 6.5.5 Avon Products Recent Developments/Updates 6.6 The Estee Lauder Companies 6.6.1 The Estee Lauder Companies Corporation Information 6.6.2 The Estee Lauder Companies Description and Business Overview 6.6.3 The Estee Lauder Companies Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.6.4 The Estee Lauder Companies Cosmetic Skin Care Product Portfolio 6.6.5 The Estee Lauder Companies Recent Developments/Updates 6.7 Johnson & Johnson 6.6.1 Johnson & Johnson Corporation Information 6.6.2 Johnson & Johnson Description and Business Overview 6.6.3 Johnson & Johnson Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.4.4 Johnson & Johnson Cosmetic Skin Care Product Portfolio 6.7.5 Johnson & Johnson Recent Developments/Updates 6.8 Kao Corporation 6.8.1 Kao Corporation Corporation Information 6.8.2 Kao Corporation Description and Business Overview 6.8.3 Kao Corporation Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.8.4 Kao Corporation Cosmetic Skin Care Product Portfolio 6.8.5 Kao Corporation Recent Developments/Updates 6.9 Natura & Co 6.9.1 Natura & Co Corporation Information 6.9.2 Natura & Co Description and Business Overview 6.9.3 Natura & Co Cosmetic Skin Care Sales, Revenue and Gross Margin ( 2016-2021) 6.9.4 Natura & Co Cosmetic Skin Care Product Portfolio 6.9.5 Natura & Co Recent Developments/Updates7 Cosmetic Skin Care Manufacturing Cost Analysis 7.1 Cosmetic Skin Care Key Raw Materials Analysis 7.1.1 Key Raw Materials 7.1.2 Key Suppliers of Raw Materials 7.2 Proportion of Manufacturing Cost Structure 7.3 Manufacturing Process Analysis of Cosmetic Skin Care 7.4 Cosmetic Skin Care Industrial Chain Analysis8 Marketing Channel, Distributors and Customers 8.1 Marketing Channel 8.2 Cosmetic Skin Care Distributors List 8.3 Cosmetic Skin Care Customers9 Cosmetic Skin Care Market Dynamics 9.1 Cosmetic Skin Care Industry Trends 9.2 Cosmetic Skin Care Growth Drivers 9.3 Cosmetic Skin Care Market Challenges 9.4 Cosmetic Skin Care Market Restraints10 Global Market Forecast 10.1 Cosmetic Skin Care Market Estimates and Projections by Type 10.1.1 Global Forecasted Sales of Cosmetic Skin Care by Type ( 2022-2027) 10.1.2 Global Forecasted Revenue of Cosmetic Skin Care by Type ( 2022-2027) 10.2 Cosmetic Skin Care Market Estimates and Projections by Application 10.2.1 Global Forecasted Sales of Cosmetic Skin Care by Application ( 2022-2027) 10.2.2 Global Forecasted Revenue of Cosmetic Skin Care by Application ( 2022-2027) 10.3 Cosmetic Skin Care Market Estimates and Projections by Region 10.3.1 Global Forecasted Sales of Cosmetic Skin Care by Region ( 2022-2027) 10.3.2 Global Forecasted Revenue of Cosmetic Skin Care by Region ( 2022-2027) 11 Research Finding and Conclusion12 Methodology and Data Source
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The Cosmetic Skin Care Market study includes data on market size, price trends, and emerging growth, as well as a comprehension of industry features that can lead to profitable prospects for new entrants and established organisations. This study examines the market's primary drivers and constraints in depth. The market trends discussed in the studies will influence the market's future orientation. The research also contains a complete analysis of the accomplishments of the worldwide market's leading players. It also discusses crucial market trends that are likely to be beneficial. The study report's purpose is to offer a fair and truthful picture of the situation.
What the Report has to Offer? - Market Size Estimates: The report offers accurate and reliable estimation of the market size in terms of value and volume. Aspects such as production, distribution and supply chain, and revenue for the Cosmetic Skin Care market are also highlighted in the report- Analysis on Market Trends: In this part, upcoming market trends and development have been scrutinized- Growth Opportunities: The report here provides clients with the detailed information on the lucrative opportunities in the Cosmetic Skin Care market- Regional Analysis: In this section, the clients will find comprehensive analysis of the potential regions and countries in the Cosmetic Skin Care market- Analysis on the Key Market Segments: The report focuses on the segments: end user, application, and product type and the key factors fuelling their growth.- Vendor Landscape: Competitive landscape provided in the report will help the companies to become better equipped to be able to make effective business decisions.
The collection and analysis of the base year data was performed using a large sample data collection module. Market data is analyzed and forecasted using consistent statistical market models. In addition, the most important success factors in market reporting are market share analysis and trend analysis. The main research methods are data mining, data triangulation and preliminary analysis and validation ( industry experts) of the impact of data fluctuations on the market. In addition, the data model includes vendor positioning grid, market timeline analysis, market overview and leadership, industry positioning grid, enterprise operation analysis, metrics, top-down analysis, and vendor analysis.
Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’ s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Industry Research is the credible source for gaining the market reports that will provide you with the lead your business needs. | general |
Global E-cigarette and Vaping Market Outlook To ( 2022-2028) | The E-cigarette and Vaping Market provides vital information about the global, regional, and top companies, such as E-cigarette and Vaping market share analysis, winning strategies, latest developments, and financials. Aside from giving information on the top participants in the E-cigarette and Vaping market, the study also recalculates the influence of macroeconomic and microeconomic factors that may have an impact on the E-cigarette and Vaping market’ s development. The report begins with an overview of the industrial chain structure, followed by a description of the increasing trend. Furthermore, the study examines market size and predictions for several geographic areas, kinds, and end-use sectors. Identifying strengths, weaknesses, opportunities, and threats results in fact-based analysis, new insights, increased revenue, historical data, and predicting new ideas.
The E-cigarette and Vaping market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. The E-cigarette and Vaping Market key insights have been presented through the frameworks of SWOT and Porter’ s Five Forces analysis along with the attractiveness of the market has been presented by sales, revenue, distribution channel, product type, and region.
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An electronic cigarette [ notes is an electronic device that simulates tobacco smoking. It consists of an atomizer, a power source such as a battery, and a container such as a cartridge or tank. Instead of smoke, the user inhales vapor.
Due to the COVID-19 pandemic, the global E-cigarette and Vaping market size is estimated to be worth US $ million in 2022 and is forecast to a readjusted size of US $ million by 2028 with a CAGR of% during the review period. Fully considering the economic change by this health crisis, Mechanical E-cigarettes ( Mods) accounting for% of the E-cigarette and Vaping global market in 2021, is projected to value US $ million by 2028, growing at a revised% CAGR in the post-COVID-19 period. While Online segment is altered to an% CAGR throughout this forecast period.
We have been tracking the direct impact of COVID-19 on this market, as well as the indirect impact from other industries. This report analyzes the impact of the pandemic on the E-cigarette and Vaping market from a Global and Regional perspective. The report outlines the market size, market characteristics, and market growth for E-cigarette and Vaping industry, categorized by type, application, and consumer sector. In addition, it provides a comprehensive analysis of aspects involved in market development before and after the Covid-19 pandemic. Report also conducted a PESTEL analysis in the industry to study key influencers and barriers to entry.
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The market is fragmented due to the presence of a large number of regional and local enterprises from various nations. Mergers, expansions, acquisitions, and collaborations, as well as new product development, are emphasised as strategic strategies utilised by major firms to boost customer brand awareness. The market’ s leading businesses invest extensively in research and development to increase the effectiveness of their products and eliminate negative effects.
This report provides an analytical representation of the global E-cigarette and Vaping Market, current trends, and future projections in order to discover prospective investment possibilities. The report contains a comprehensive analysis of the global E-cigarette and Vaping market share, as well as data on major drivers, constraints, and opportunities. The study provides a complete market analysis based on competitive intensity and how the competition will evolve in the next years.
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The scope of the report includes worldwide and regional markets, as well as a complete analysis of the market’ s overall development prospects. It also highlights the global marketplace’ s broad competitive environment. This research also includes an overview of leading companies, including the most recent effective marketing techniques, market contributions, and present and historical context. The E-cigarette and Vaping Market is segmented by product type and end-user industry/application. Growth across segments is used to identify the many growth factors that are predicted to dominate the market as a whole, as well as to design diverse tactics to distinguish between key applications and target markets.
DRIVERS AND RESTRAINSThe research report provides an analysis of the various factors driving the markets growth. It creates trends, constraints and impulses that change the market in a positive or negative direction. This section also discusses the various segments and applications that could affect the future market. The report includes a comprehensive boundary condition assessment that compares drivers and provides strategic planning.
REGIONAL INSIGHTSGlobal and country analyses are some of the main metrics used to predict domestic market scenarios. It takes into account the presence and availability of global brands, the problem of strong or little competition with local and domestic brands, and the impact of national tariffs and trade routes on country data projections.
Key Reasons to Purchase: - Gained an analysis of market insights and a comprehensive understanding of the Global E-cigarette and Vaping Market and commercial environment. - To mitigate development risk, the production process evaluates key problems and solutions. - Recognize the driving forces and impediments that have the biggest influence on covid-19 in the E-cigarette and Vaping market, as well as its worldwide market. - Explains the market strategies adopted by each major institution. - Understand the E-cigarette and Vaping Market's future view and forecast. - In addition to standard structure reports, we also offer custom studies tailored to specific requirements.
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1 Study Coverage 1.1 E-cigarette and Vaping Product Introduction 1.2 Market by Type 1.2.1 Global E-cigarette and Vaping Market Size Growth Rate by Type, 2017 VS 2021 VS 2028 1.2.2 Mechanical E-cigarettes ( Mods) 1.2.3 Rechargeable 1.3 Market by Sales Channel 1.3.1 Global E-cigarette and Vaping Market Size Growth Rate by Sales Channel, 2017 VS 2021 VS 2028 1.3.2 Online 1.3.3 Offline 1.4 Study Objectives 1.5 Years Considered
2 Executive Summary 2.1 Global E-cigarette and Vaping Sales Estimates and Forecasts 2017-2028 2.2 Global E-cigarette and Vaping Revenue Estimates and Forecasts 2017-2028 2.3 Global E-cigarette and Vaping Revenue by Region: 2017 VS 2021 VS 2028 2.4 Global E-cigarette and Vaping Sales by Region 2.4.1 Global E-cigarette and Vaping Sales by Region ( 2017-2022) 2.4.2 Global Sales E-cigarette and Vaping by Region ( 2023-2028) 2.5 Global E-cigarette and Vaping Revenue by Region 2.5.1 Global E-cigarette and Vaping Revenue by Region ( 2017-2022) 2.5.2 Global E-cigarette and Vaping Revenue by Region ( 2023-2028) 2.6 North America 2.7 Europe 2.8 Asia-Pacific 2.9 Latin America 2.10 Middle East & Africa
3 Competition by Manufacturers 3.1 Global E-cigarette and Vaping Sales by Manufacturers 3.1.1 Global Top E-cigarette and Vaping Manufacturers by Sales ( 2017-2022) 3.1.2 Global E-cigarette and Vaping Sales Market Share by Manufacturers ( 2017-2022) 3.1.3 Global Top 10 and Top 5 Largest Manufacturers of E-cigarette and Vaping in 2021 3.2 Global E-cigarette and Vaping Revenue by Manufacturers 3.2.1 Global E-cigarette and Vaping Revenue by Manufacturers ( 2017-2022) 3.2.2 Global E-cigarette and Vaping Revenue Market Share by Manufacturers ( 2017-2022) 3.2.3 Global Top 10 and Top 5 Companies by E-cigarette and Vaping Revenue in 2021 3.3 Global E-cigarette and Vaping Sales Price by Manufacturers ( 2017-2022) 3.4 Analysis of Competitive Landscape 3.4.1 Manufacturers Market Concentration Ratio ( CR5 and HHI) 3.4.2 Global E-cigarette and Vaping Market Share by Company Type ( Tier 1, Tier 2, and Tier 3) 3.4.3 Global E-cigarette and Vaping Manufacturers Geographical Distribution 3.5 Mergers & Acquisitions, Expansion Plans
4 Market Size by Type 4.1 Global E-cigarette and Vaping Sales by Type 4.1.1 Global E-cigarette and Vaping Historical Sales by Type ( 2017-2022) 4.1.2 Global E-cigarette and Vaping Forecasted Sales by Type ( 2023-2028) 4.1.3 Global E-cigarette and Vaping Sales Market Share by Type ( 2017-2028) 4.2 Global E-cigarette and Vaping Revenue by Type 4.2.1 Global E-cigarette and Vaping Historical Revenue by Type ( 2017-2022) 4.2.2 Global E-cigarette and Vaping Forecasted Revenue by Type ( 2023-2028) 4.2.3 Global E-cigarette and Vaping Revenue Market Share by Type ( 2017-2028) 4.3 Global E-cigarette and Vaping Price by Type 4.3.1 Global E-cigarette and Vaping Price by Type ( 2017-2022) 4.3.2 Global E-cigarette and Vaping Price Forecast by Type ( 2023-2028)
5 Market Size by Sales Channel 5.1 Global E-cigarette and Vaping Sales by Sales Channel 5.1.1 Global E-cigarette and Vaping Historical Sales by Sales Channel ( 2017-2022) 5.1.2 Global E-cigarette and Vaping Forecasted Sales by Sales Channel ( 2023-2028) 5.1.3 Global E-cigarette and Vaping Sales Market Share by Sales Channel ( 2017-2028) 5.2 Global E-cigarette and Vaping Revenue by Sales Channel 5.2.1 Global E-cigarette and Vaping Historical Revenue by Sales Channel ( 2017-2022) 5.2.2 Global E-cigarette and Vaping Forecasted Revenue by Sales Channel ( 2023-2028) 5.2.3 Global E-cigarette and Vaping Revenue Market Share by Sales Channel ( 2017-2028) 5.3 Global E-cigarette and Vaping Price by Sales Channel 5.3.1 Global E-cigarette and Vaping Price by Sales Channel ( 2017-2022) 5.3.2 Global E-cigarette and Vaping Price Forecast by Sales Channel ( 2023-2028)
6 North America 6.1 North America E-cigarette and Vaping Market Size by Type 6.1.1 North America E-cigarette and Vaping Sales by Type ( 2017-2028) 6.1.2 North America E-cigarette and Vaping Revenue by Type ( 2017-2028) 6.2 North America E-cigarette and Vaping Market Size by Sales Channel 6.2.1 North America E-cigarette and Vaping Sales by Sales Channel ( 2017-2028) 6.2.2 North America E-cigarette and Vaping Revenue by Sales Channel ( 2017-2028) 6.3 North America E-cigarette and Vaping Market Size by Country 6.3.1 North America E-cigarette and Vaping Sales by Country ( 2017-2028) 6.3.2 North America E-cigarette and Vaping Revenue by Country ( 2017-2028) 6.3.3 U.S. 6.3.4 Canada
7 Europe 7.1 Europe E-cigarette and Vaping Market Size by Type 7.1.1 Europe E-cigarette and Vaping Sales by Type ( 2017-2028) 7.1.2 Europe E-cigarette and Vaping Revenue by Type ( 2017-2028) 7.2 Europe E-cigarette and Vaping Market Size by Sales Channel 7.2.1 Europe E-cigarette and Vaping Sales by Sales Channel ( 2017-2028) 7.2.2 Europe E-cigarette and Vaping Revenue by Sales Channel ( 2017-2028) 7.3 Europe E-cigarette and Vaping Market Size by Country 7.3.1 Europe E-cigarette and Vaping Sales by Country ( 2017-2028) 7.3.2 Europe E-cigarette and Vaping Revenue by Country ( 2017-2028) 7.3.3 Germany 7.3.4 France 7.3.5 U.K. 7.3.6 Italy 7.3.7 Russia
8 Asia Pacific 8.1 Asia Pacific E-cigarette and Vaping Market Size by Type 8.1.1 Asia Pacific E-cigarette and Vaping Sales by Type ( 2017-2028) 8.1.2 Asia Pacific E-cigarette and Vaping Revenue by Type ( 2017-2028) 8.2 Asia Pacific E-cigarette and Vaping Market Size by Sales Channel 8.2.1 Asia Pacific E-cigarette and Vaping Sales by Sales Channel ( 2017-2028) 8.2.2 Asia Pacific E-cigarette and Vaping Revenue by Sales Channel ( 2017-2028) 8.3 Asia Pacific E-cigarette and Vaping Market Size by Region 8.3.1 Asia Pacific E-cigarette and Vaping Sales by Region ( 2017-2028) 8.3.2 Asia Pacific E-cigarette and Vaping Revenue by Region ( 2017-2028) 8.3.3 China 8.3.4 Japan 8.3.5 South Korea 8.3.6 India 8.3.7 Australia 8.3.8 Taiwan 8.3.9 Indonesia 8.3.10 Thailand 8.3.11 Malaysia 8.3.12 Philippines
9 Latin America 9.1 Latin America E-cigarette and Vaping Market Size by Type 9.1.1 Latin America E-cigarette and Vaping Sales by Type ( 2017-2028) 9.1.2 Latin America E-cigarette and Vaping Revenue by Type ( 2017-2028) 9.2 Latin America E-cigarette and Vaping Market Size by Sales Channel 9.2.1 Latin America E-cigarette and Vaping Sales by Sales Channel ( 2017-2028) 9.2.2 Latin America E-cigarette and Vaping Revenue by Sales Channel ( 2017-2028) 9.3 Latin America E-cigarette and Vaping Market Size by Country 9.3.1 Latin America E-cigarette and Vaping Sales by Country ( 2017-2028) 9.3.2 Latin America E-cigarette and Vaping Revenue by Country ( 2017-2028) 9.3.3 Mexico 9.3.4 Brazil 9.3.5 Argentina
10 Middle East and Africa 10.1 Middle East and Africa E-cigarette and Vaping Market Size by Type 10.1.1 Middle East and Africa E-cigarette and Vaping Sales by Type ( 2017-2028) 10.1.2 Middle East and Africa E-cigarette and Vaping Revenue by Type ( 2017-2028) 10.2 Middle East and Africa E-cigarette and Vaping Market Size by Sales Channel 10.2.1 Middle East and Africa E-cigarette and Vaping Sales by Sales Channel ( 2017-2028) 10.2.2 Middle East and Africa E-cigarette and Vaping Revenue by Sales Channel ( 2017-2028) 10.3 Middle East and Africa E-cigarette and Vaping Market Size by Country 10.3.1 Middle East and Africa E-cigarette and Vaping Sales by Country ( 2017-2028) 10.3.2 Middle East and Africa E-cigarette and Vaping Revenue by Country ( 2017-2028) 10.3.3 Turkey 10.3.4 Saudi Arabia
Browse Detailed TOC of E-cigarette and Vaping Market @ https: //www.industryresearch.biz/TOC/19862202 # TOC
REPORT COVERAGEThe E-cigarette and Vaping Market study includes data on market size, price trends, and emerging growth, as well as a comprehension of industry features that can lead to profitable prospects for new entrants and established organisations. This study examines the market's primary drivers and constraints in depth. The market trends discussed in the studies will influence the market's future orientation. The research also contains a complete analysis of the accomplishments of the worldwide market's leading players. It also discusses crucial market trends that are likely to be beneficial. The study report's purpose is to offer a fair and truthful picture of the situation.
What the Report has to Offer? - Market Size Estimates: The report offers accurate and reliable estimation of the market size in terms of value and volume. Aspects such as production, distribution and supply chain, and revenue for the E-cigarette and Vaping market are also highlighted in the report - Analysis on Market Trends: In this part, upcoming market trends and development have been scrutinized - Growth Opportunities: The report here provides clients with the detailed information on the lucrative opportunities in the E-cigarette and Vaping market - Regional Analysis: In this section, the clients will find comprehensive analysis of the potential regions and countries in the E-cigarette and Vaping market - Analysis on the Key Market Segments: The report focuses on the segments: end user, application, and product type and the key factors fuelling their growth. - Vendor Landscape: Competitive landscape provided in the report will help the companies to become better equipped to be able to make effective business decisions.
RESEARCH METHODOLOGYThe collection and analysis of the base year data was performed using a large sample data collection module. Market data is analyzed and forecasted using consistent statistical market models. In addition, the most important success factors in market reporting are market share analysis and trend analysis. The main research methods are data mining, data triangulation and preliminary analysis and validation ( industry experts) of the impact of data fluctuations on the market. In addition, the data model includes vendor positioning grid, market timeline analysis, market overview and leadership, industry positioning grid, enterprise operation analysis, metrics, top-down analysis, and vendor analysis.
ABOUT USMarket is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’ s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Industry Research is the credible source for gaining the market reports that will provide you with the lead your business needs. | general |
Warren Buffett's Berkshire Hathaway reveals major stake in HP, tech stock soars | In this article
Warren Buffett's Berkshire Hathaway has initiated a major stake in tech hardware stock HP Inc., becoming the largest shareholder in the PC and printer maker.
Berkshire purchased nearly 121 million shares of HP, according to securities filings. That stake was worth roughly $ 4.2 billion based on Wednesday's closing price for the stock, amounting to a holding of about 11%.
Shares of HP closed 14.7% higher on Thursday, after hitting a new 52-week high.
After largely sitting on the sidelines in the early days of the Covid pandemic, Berkshire has become more active in recent months. The conglomerate announced a deal to buy insurance company Alleghany for $ 11.6 billion last month and has been scooping up shares of energy stock Occidental Petroleum.
HP, a leading name in personal computers, has lagged badly behind larger tech names over the past decade and beyond. Before the Berkshire news, the stock had gained less than 50% since October 2009.
`` We view Berkshire buying HPQ shares as a positive that validates HPQ's strategy/deep value, '' wrote Evercore ISI tech analyst Amit Daryanani in a note.
HP joins elite company among rare tech holdings for Buffett, who has famously avoided most stocks in the sector for not fitting his value investing style. Apple is Berkshire's single biggest outside holding and one of Buffett's best investments ever, reaping billions for Berkshire since the conglomerate started buying in 2016.
— With reporting by CNBC's Michael Bloom. | business |
PE and VC-backed companies created over 103,000 jobs in Europe in 2020, report finds | Powering European private equity
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European companies owned by private equity and venture capital grew their workforces by 2% in 2020 in a year when the Covid pandemic led to the overall European workforce contracting by 1.6%.
That was the key finding of a new report, Private Equity at Work, from Invest Europe, the pan-European trade body for the PE, VC and infrastructure sectors.
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How provinces are dealing with the sixth wave | Tech ETFs give investors exposure to a still fast-growing area of the market.
If there’ s any silver lining to come out of the COVID-19 pandemic, it’ s that an increasing number of investors are thinking more carefully about the impact their holdings are having on the world.
It doesn’ t matter if you look at the last three years or the last 30, U.S. technology has consistently been one of the best performing sectors in the world.
Many of us will look back on 2020 as a year of great hardship and we may all be eager to turn the calendar and hope for brighter news for the world in 2021. If your finances took a hit or you want a new start for your money, here are 10 things to consider.
Your tax filing may be different this time around because of the COVID-19 pandemic. One piece of advice: Start estimating now whether you may or may not owe money to the government.
It’ s never too early for business owners to start thinking about their end game — after all, you eventually want to enjoy the fruits of your hard work. There’ s a lot to consider. Here’ s a checklist to get you started.
COVID-19 has left many young workers and students unemployed and returning to the safety of their childhood homes. If you are the parent of a teen or young adult whose launch has been interrupted, here are some ways you may help.
If your teenager has a part-time job, you may wonder if they need to file a tax return. Even if it’ s only pocket change, there are some compelling reasons to begin your lifelong relationship with the Canada Revenue Agency.
For many women, balancing career and family priorities is a constant challenge. But a global pandemic has pushed us all to become more creative about how we approach work-life balance. | general |
ZDNet insider Q & A: 10 questions on inflation | ZDNet reaches out to industry insiders in one-on-one interviews to gain further insight into timely topics of finance. The topic for today: Inflation.
Marc Wojno has been a writer and editor in the financial field for more than two decades.
For many small business owners, the bombardment of headlines about the rise of inflation rates over the past several months -- with no sign in letting up -- has led to this discouraging conclusion: Inflation is here for all of 2022.
The annual inflation rate in the US is 7.9% for the 12-month period ended February, according to the most recent data from the US Bureau of Labor Statistics. That's the highest rate since January 1982. More troubling, for the same period last year, the annual rate was a mere 1.7%. A myriad of economic, business and social factors in 2021 contributed to the dramatic spike of inflation, exacerbated by the government's response to the COVID-19 pandemic. Add to that the sharp increase in demand of goods and services as COVID lockdown restrictions eased, coupled with labor shortages throughout the country, and you have the perfect booster to throttle the rate of inflation to a four-decade high in a matter of months.
Although the Federal Reserve announced this week that it's taking aggressive steps to stave off high inflation in the next few months, many US small businesses have already suffered the pains of rising prices of goods and services, supply chain backlogs and labor shortages from last year. For some, the end of business is already in sight, for others it's a matter of staying alive one day at a time. Either way, the pain is passed on to individual consumers as they adjust their spending habits to compensate for higher prices.
Making sense of the nation's inflation woes, however, is one step on the road to recovery. Recently, ZDNet spoke with Ben Johnston, chief operating officer for small business financing firm Kapitus, which provides financing products to small businesses including term loans, revenue-based financing, SBA loans, equipment financing and revolving lines of credit. Johnston provides insights into how inflation is affecting small businesses, what small business owners can do to weather the storm of inflation and what he sees in the year ahead.
Ben Johnston: I look at inflation based on three factors: labor costs, costs of goods and borrowing costs. First, small businesses are being impacted by higher labor costs due to labor shortages coming out of the pandemic and also due to an increase in demand for the services of small businesses post-pandemic. A lot of people left the workforce during the pandemic and many still haven't come back yet. So, as demand increases the need for people increases and we have a supply and demand issue which is driving wages up and making it difficult to hire.
The second factor is higher costs of goods. A lot of this is driven by supply chain disruptions which continue to mount. At first it was pandemic related production problems from overseas, then it was port congestion and shortages of trucking capacity and container capacity, and intentional border disruptions as we saw with picketing truckers in Canada.
And now it's the war in Ukraine.
Both Russia and Ukraine are large exporters of commodities, from oil and gas, to mined commodities, to grain. The price of these products is up worldwide as supply has been limited by sanctions and war, and consumers can expect prices to remain elevated for an extended period of time as sanctions remain in place long after the fighting subsides.
Trade and supply chain disruptions continue to be ongoing and all of that creates uncertainty in the supply chain; it causes small businesses to buy in bulk and hold more inventory on their balance sheets and that creates additional demand. So, it becomes this this sort of self-perpetuating cycle that ultimately drives prices up and it causes inflation.
As we think about small businesses wanting to hold greater inventory to make sure that their jobs aren't disrupted – because they are lacking critical goods to make the products they produce – that incentivizes them to buy more inventory and hold inventory longer. Many businesses are buying inventory in bulk and are looking to finance that inventory. With the Fed raising rates in an effort to curb inflation, small businesses can expect their borrowing costs to rise. That will impact businesses that are capital intensive such as manufacturers, contractors, retailers, businesses that are holding inventory while they manufacture or are holding inventory to sell.
Seasonal businesses, including landscapers, farmers and hospitality businesses including golf clubs and ski resorts. Also, businesses that aren't open year-round, such as businesses in beach communities in the northeast. These businesses need to be able to find seasonal labor in a world where permanent labor is in high demand – getting that swing employee and hiring them quickly for a short period of time becomes that much more expensive and that much more difficult. Communities that grow and shrink each year based on seasonality will probably see the effects of inflation more acutely.
The auto industry is the poster child. There are many different businesses that tree up to producing an automobile so there are small businesses along the supply chain. When a key component can't be sourced, the entire production line could be shut down. I also think about home furnishing retailers and contractors as businesses that have struggled with supply chain disruptions. Contractors have gotten backed up as the supply chain for lumber and other critical items that go into a house have been disrupted – the window lead times and white goods for kitchens and bathrooms – each one of these products has its own unique supply chain issues, and so you can get three-fourths of your house done and just be waiting for months on the last quarter. And that's incredibly frustrating for the contractor who can't finish the job, get paid and move on.
Keeping a tight control on expenses is extremely important. Look for new tools and business processes that will help reduce manual labor. We 've seen a number of businesses implementing self-service in areas where they used to have an employee of performing that service. So, going into a restaurant and instead of having a waiter, there's a QR code on the table, you put your phone up to it and order your food online. Then a busser delivers the food while covering many more tables than a waiter could have.
There are other innovative ways for businesses to provide a similar product with a lower level of service that allows them to stay open with a reduced staff. The pizza parlor, for example, that offers a discount if you come and pick it up instead of requiring them to employ a delivery person.
Most small businesses are trying hard to avoid raising posted prices on their products and are looking for other ways to either reduce their costs, alter their services to allow them to provide the same product with possibly less service around it. I recently stayed in a hotel where there was no cleaning service in the room during your stay unless you specifically asked for it, and this was a high-end hotel. I was fine with that. I think the less important aspects of service are being eliminated as businesses try to avoid raising prices for as long as possible, however I think many small businesses are getting to the point now where they realize they do need to raise prices in order to maintain an appropriate level of stability.
There are lots of interesting, innovative software packages available for businesses today to try to streamline the customer experience – record all of the economics of the customer interaction – and then immediately transmit that into your accounting statements, your purchasing, your accounts receivable and payables, invoicing…there's a tremendous amount of manual labor that happens behind the scenes of running a business that now can be streamlined from an accounting and bookkeeping standpoint if you can capture that data upfront with the initial customer experience. So, I think businesses are working hard to figure out ways that they can digitize the bulk of that process and eliminate the need for humans to do it themselves.
American consumers and small businesses can expect higher prices at the pump and at the grocery store, but also in the cost of finished goods and services, as all businesses struggle with higher shipping and raw material costs which will ultimately be passed on to consumers.
I also see the West becoming increasingly uncomfortable with its exposure to supply chains that originate in non-democratic countries on the other side of the globe. Political interests increasingly seem to be overshadowing economic interests, and American businesses will have to calculate the risk of tariffs and supply chain disruptions when assessing the savings they earn from accessing lower-cost labor markets. We have been predicting the repatriation of manufacturing to the US for some time now and the developments in Russia and Ukraine only serve to strengthen our views.
One of the most obvious things that consumers reflexively do to combat inflation is limit consumption. This of course is bad for the economy, and is especially bad for small businesses, as the majority of small business revenue is derived from consumer spending. Consumers, however, can limit some forms of consumption by generating efficiencies that don't diminish quality of life. Investing, for example, in renewable energy sources and energy efficient HVAC for your home can save you considerably when petroleum prices spike. Similarly, owners of electric vehicles are likely to see considerable savings over owners of traditional gas-powered cars this year. Finally, consumers are likely to tap into some of those cooking skills that they learned during the pandemic and may host a party or two in their new back yards rather than going out to eat or going on an expensive vacation. All in all, we expect discretionary spending to decline as a result of inflation in 2022.
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Qatar Fitness Services Market -- Rise of Female-Only | Gurugram, India, April 07, 2022 ( GLOBE NEWSWIRE) -- - Fitness operators have an enormous opportunity to capture an ever increasing segment of the population who are exercising or considering doing so.
- Expansion of fitness centres by opening new centres separate for males and females to cities other than Doha and Al Rayyan will increase brand visibility and member participation.
- Increase in demand of certified personal trainers among customers of fitness centers in both organized and unorganized fitness center market would lead to revenue growth for fitness centers.
Evolution of Consumer Preferences: Catalyzed by the pandemic, awareness of exercise has increased rapidly with consumers shifting towards virtual classes such as using pre-recorded video and livestream classes to carry out their exercises. Leading tech-giants are collaborating with market leaders in the fitness industry to foray into the market as consumers are inclined toward digital fitness subscriptions than traditional gym memberships.
Growth in Number of Establishments: Increase in demand and prominence of female gyms along with upcoming FIFA 2022 and increasing health and awareness along the population is expected to disrupt the industry.
Impact of COVID 19: Increasing health awareness post COVID will increase active participants in fitness centers. As outdoor exercise avenues such as gyms and fitness centers have closed or are offering restricted access, indoor exercise options are leading customers who are fitness oriented towards at-home alternatives for a healthy and active lifestyle.
The report titled '' Qatar Fitness Services Market Outlook to 2025F – Driven by increasing health concerns resulting in addition of number of health clubs and gyms in the country '' by Ken Research suggested that the fitness market is further expected to grow in the near future owing to growing health conscious population, increasing disposable income, rising awareness regarding obesity and to overcome health issues such as diabetes and cancer has been the major key factors which drives the demand for fitness services centers in Qatar. The market is expected to register a positive five year CAGR of 14.9% in terms of revenue during the forecast period 2020-2025F.
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Philippines Health Tech Market had a slow growth initially. The slow growth corresponded to poor internet penetration and lack of technology awareness. Unorganized health tech infrastructure and a less tech-savvy population led to the accumulation of unharmonized healthcare data. The government faced a major difficulty when the healthcare challenges kept on increasing with the growing population. Increasing need and high government interest positively drove the Philippines health tech industry.
Indonesia Health Tech market grew at a very high growth rate over the review period 2017-2020 and was further supported by an increase in health awareness among the younger population, the advancement of technology in the market, introduction of new platforms in the market. The entry of domestic players with international investments has also contributed to the same. Strong growth was observed in Indonesia's health tech industry majorly due to high-end user demand.
The India Consumer Wearable industry has grown at a CAGR of 32.0% on the basis of revenue over the period 2015-2020. The young demographics and high disposable income in the country is one of the largest growth drivers of the industry. Continuous investment in research & development and marketing activities by the wearables manufacturers is positively impacting the industry's growth. Fitness trackers dominated the wearables industry in India in 2020 on the basis of revenue. The adoption of wearables is currently led by decrease in the price of fitness trackers. In addition to being cheap, these devices now offer features which were once only available in high end devices.
Egypt Fitness Services Market is a largely under-penetrated market with less than% of the population actively participating in a Fitness Centres. Rising disposable income accompanied with improvement in infrastructure pertaining to fitness centres are fueling the market growth. Tech-enabled high-end fitness offerings, usually backed by strong social media credentials and cult following along with budget fitness chains are expanding in Egypt.
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Covid: U.S. has until June to decide on new vaccines for this fall, FDA official says | The FDA has until the early summer to decide whether vaccine makers need to change existing Covid shots to target different virus variants to avoid another possible surge in cases this fall, according to a top official at the drug regulator.
Dr. Peter Marks, who leads the Food and Drug Administration office responsible for vaccine safety and efficacy, told the agency's advisory committee Wednesday that a decision would need to be made by June in order to have shots available in the fall. Marks said the U.S. could face another wave of infection at that time because the virus will continue to evolve as immunity from the current vaccines wanes.
Robert Johnson, a senior official at the Biomedical Advanced Research and Development Authority, said at the meeting that the biggest challenge in updating the shots will be coordinating across the vaccine makers to make sure they are focusing on the correct Covid variants.
Pfizer, Moderna and other vaccine makers are conducting clinical trials on omicron-based shots. However, the companies aren't currently coordinating on their new vaccine formulas, according to Jerry Weir, head of the FDA's division of viral products. Several FDA advisory panel members said public health authorities need to develop a unified approach across vaccine makers, similar to their work updating the flu vaccine to target new strains every year.
Dr. Paul Offit, an FDA committee member, said the CDC needs to take the lead in deciding when the vaccines are no longer effective against severe illness, so the FDA and National Institutes of Health can then work with the companies to determine the best path forward on a new shot.
`` At some level, the companies kind of dictate the conversation here, '' Offit said. `` You often hear that the company now has an omicron-specific vaccine, or vaccine they can now link with the influenza vaccine. It shouldn't come from them, it really has to come from us. ''
FDA officials proposed using the process for developing new flu vaccines as a guide for changing the Covid shots. Every year, the World Health Organization makes a recommendation about the composition of the flu vaccine. The FDA then makes its own determination, based on a recommendation from its committee, about which strain should go into shots for the U.S.
The uncertainty over the trajectory of Covid's evolution, unlike the predictability of the flu, makes it difficult to determine how the vaccines should be updated — or if they even need a change at all.
Three doses of Pfizer's or Moderna's vaccines were more than 80% effective at preventing hospitalization among healthy adults during the omicron wave, according to Centers for Disease Control and Prevention data presented at the meeting. But the companies ' vaccines are still based on the original version of the virus that emerged in Wuhan, China, and their effectiveness against infection has substantially dropped since the beginning of the pandemic.
Covid has mutated two to 10 times faster than the flu, depending on the strain of the latter virus, according to Trevor Bedford, a virologist at the Fred Hutchinson Cancer Research Center. Bedford said he expects that the spike protein, which the Covid virus uses to invade human cells, will keep evolving. The vaccines target the spike and as the protein mutates, the effectiveness of the shots can diminish.
Bedford said the most likely scenario over the next year is omicron and its subvariants will evolve to become more transmissible and further escape immunity from vaccination and infection. However, he said it's difficult to predict whether another heavily mutated variant will come along that upends the pandemic response as omicron did over the winter.
`` We really don't know whether these wildly divergent viruses will be a common feature, or a rare feature of endemic SARS-CoV-2 evolution, '' Bedford said, using the scientific name for the virus that causes Covid.
Johnson noted that in the case of the flu, the vaccine makers are able to develop production plans in advance based on a stable seasonal market. However, it's not yet clear if Covid will follow a predictable seasonal pattern similar to the flu, according to Dr. Kanta Subbarao, a virologist who works on the flu for the WHO.
Read CNBC's latest global coverage of the Covid pandemic:
FDA committee members said the central question in updating a vaccine is determining what metric public health authorities should use to determine when the shots have lost their effectiveness. Scientists have not yet determined if a certain antibody level generated by a vaccine translates to clear protection against the virus, according to Dr. Cody Meissner, an infectious disease experts at Tufts University School of Medicine.
As a consequence, public health authorities will have to rely on hospitalization rates to determine if the vaccine is losing its effectiveness, Meissner said. However, it's also not clear if national hospitalization data is primarily made up of patients admitted due to the virus, or people who tested positive after admission for other reasons. Meissner pointed to data from Massachusetts that showed 65% of the 219 people hospitalized with Covid as of April 5 were actually admitted for reasons other than the virus.
Dr. Amanda Cohn, a CDC official, told the committee that repeated boosting is not a sustainable public health strategy. Cohn said the vaccines effectiveness against hospitalization remains high, and society may have to accept a certain level of infection which it can then treat with antiviral pills that are now on the market.
The FDA authorized fourth shots for adults ages 50 and older last week without consulting the committee, a decision that has divided scientists and physicians, some of whom believe that there isn't sufficient data to support additional shots. Marks said the FDA didn't consult the committee because the drug regulator viewed the authorization as a way to give people more vulnerable to severe disease additional protection until a broader decision is made for the rest of the population.
`` I think we're very much on board and with the idea that we simply can't be boosting people as frequently as we are, '' Marks told the committee. `` I 'm the first to acknowledge that this additional fourth booster dose that was authorized was a stopgap measure until we got things in place for the potential next booster given the emerging data, '' Marks said. | business |
Increasing Global Vehicle Fleet to Elevate Demand for | April 07, 2022 11:45 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, April 07, 2022 ( GLOBE NEWSWIRE) -- According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global automotive vibration control system market is expected to reach a valuation of US $ 262.8 Bn by the end of 2032 while expanding at a CAGR of 4.8% over the same period.
Convergence in the automobile industry promises a positive stance and dynamic changes in demand. Additionally, the momentum of core factors are driving the shift of consumer preference, including economical, demographical and social disruption, with the aid of technological advancements. Dynamically shifting consumer preference towards elite and luxurious vehicles owing to surge in disposable income and global per capita GDP plays a vital role in the industry.
Luxurious vehicle demand has witnessed a swift and steady recovery from the COVID-19 pandemic and has reached the pre-COVID trajectory. Luxury automobiles account for roughly 13% of total global car sales, and are expected to hold a market share of around 16-18% over the decade. As such, growing demand for luxury vehicles will subsequently drive the sales of Automotive Body & Chassis Demand.
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“ Passenger vehicles are likely to be the most attractive segment in this market and attract manufacturers for investments during the assessment period ” says a Fact.MR analyst
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Anand NVH Products, Bridgestone Corporation, ContiTech AG, Corteco ( Freudenberg), Fibet Rubber Bonding ( UK) Ltd, GMT Rubber-Metal-Technic Ltd, H.A. King Vibration Control, Hutchinson, Isolation Technology Inc, Kurashiki Kako Co., Ltd, Parker Hannifin Corp, Polymer Technologies, Inc, Resistoflex ( P) Ltd, Roush Enterprises, Trelleborg AB, Trinity Auto Engineering ( P) Ltd., Vibracoustic SE, Vibrasystems Inc, Vibromech Engineers & Services Ltd., ZF Friedrichshafen AG, and Zhongding Group are some of the prominent players in the global automotive vibration control system market.
Fact.MR has provided detailed information about the price points of top manufacturers of Automotive Vibration Control System Demand positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Overall, the worldwide automotive vibration control system market is expected to expand 1.6X over the assessment period mainly due to the growing vehicle fleet across the world.
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East Asia is likely to be the most prominent region from the demand side. Capital expansion and strong supply chain network in East Asia will open new doors for manufacturers during the assessment period.
In addition to this, market players have several opportunities to follow inorganic growth strategies such as mergers, partnerships, and collaborations to expand in the East Asia region.
Adoption of inorganic growth strategies will lead to a strong consumer base, which is poised to help cash flow generation in the near future.
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Properties of Propylene Glycol to Support Market Growth - The demand for propylene glycol based antifreeze is being driven by the adoption of inorganic acid technology. Ethylene glycol is no doubt, another sought after product by the automakers, however, high cost of handling, stringent regulatory framework, toxicity, corrosive properties etc.
Importance of Floor Panel Driving Market Demand in Aerospace Floor Panel Market - An aircraft’ s bodyweight plays the most crucial role in factoring in its fuel efficiency. In the global aviation industry, manufacturers of aerospace floor panels are aware that these flooring units will significantly contribute to bulking up the airplane’ s gross weight.
Rising Automotive Production Continues to Support Sales of Powertrain - The global sales of automotive have remained favorable for the industry in recent years, with China and the United States topping the list both in terms of production and sales.
How Growing Demand of Automobile Triggering the Demand - Global automotive sales have been strong in recent years, with the United States and China setting the pace in terms of both sales and manufacturing. As the United States ' economy gradually improves, the country's automotive sector accelerates, particularly in the auto components vertical.
Market research and consulting agency with a difference! That’ s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ ll be an able research partner. | general |
Hypoallergenic Dog Food Market to Expand 1.5X by 2032, | April 07, 2022 10:45 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, April 07, 2022 ( GLOBE NEWSWIRE) -- A recent trend witnessed in the hypoallergenic dog food market is humanization, which, in turn, is fueling demand for high-quality and premium dog food. As per in-depth research by Fact.MR - a market research and competitive intelligence provider, the market expanded at 6.8% CAGR ( 2017-2021) and reached at a valuation of US $ 14.2 Bn in 2021.
Dog owners are becoming concerned about their wellness and are spending heavily on nutritious dog food. They are taking note of their dog intolerances and allergies and are looking for specialized dog food products. Over the last eight years, demand for hypoallergenic food blends has increased more than 75% and is anticipated to escalate even more.
Demand for hypoallergenic dog food is expected to expand 1.5X and reach a market valuation of US $ 22 Bn by the end of 2032. The North American market is the largest and has acquired more than one-third share in the global hypoallergenic dry dog food sales. Based on segmental analysis, nearly two-thirds of dog owners prefer wet food for their dogs owing to its ease of digestibility and other benefits.
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In the last few years, significant change has been observed in consumer buying behaviour where they have started purchasing dog food via online channels to save on time and effort. Nearly 63% of consumers prefer to buy these products from brand/company websites.
Limited ingredient diets have become more recognizable and transparent to alleviate dog allergies. According to veterinary data, approximately 20% -30% of dogs are being diagnosed with allergic skin disease, pruritus, and atopic dermatitis.
“ High R & D on hypoallergenic dog food technologies is set to provide a competitive edge as well as copious growth opportunities for market players, ” says a Fact.MR analyst.
The Covid-19 pandemic increased the sales of hypoallergenic dog food globally, owing to the closure of stores which created a hype among dog owners. As per sales channel analysis, the purchase of dog food from pet stores from the offline channel witnessed high 13.7% growth during the pandemic.
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Influencing consumers by offering a well-balanced rich protein profile coupled with the provision of customized rice protein food offerings stands as the deciding factor in the gain or loss of market share for providers operating in this highly competitive space.
The framework to create revenue opportunities is a blend of cost leadership and differentiation strategy. Development of differentiated products is helping companies gain limelight, while cost leadership is the recommended strategy to acquire healthy profits.
Fact.MR, in its new offering, presents an unbiased analysis of the global hypoallergenic dog food market, presenting historical demand data ( 2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product type ( dry food, wet food), life stage ( puppies, adults, seniors), diet type ( hydrolyzed protein diets, novel ingredients, limited ingredients), and sales channel ( offline ( hypermarkets/supermarkets, pet stores, veterinary clinics, others), online ( brand/company websites, e-Commerce websites), across key regions ( North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
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The global hypoallergenic dog food market is highly competitive due to the existence of plentiful companies. Hypoallergenic dog food manufacturers from Germany, China, and the United States have a competitive edge due to technological advancement, high pool of investments, and availability of natural resources.
Fact.MR has provided detailed information about the price points of top manufacturers of hypoallergenic dog food positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Organic Mattress Demand Analysis - Latest market analysis by Fact.MR, a market research and competitive intelligence provider, reveals that market value for organic mattresses over the past half-decade surged at a CAGR of around 9.5%. In 2021, the organic mattress market stood at around 1,861,397 units.
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Escalating Demand for In-Shower Products and Baby Products to Fuel Market Growth - Manufacturers too are focusing on using safe ingredients in the manufacturing that do not cause harm to the skin of the baby. They are formed without any toxic chemicals, with Ayurvedic herbal extracts, which are witnessing heightened demand.
Market research and consulting agency with a difference! That’ s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ ll be an able research partner. | general |
Strategic Thinking: With Eli Lilly CFO Anat Ashkenazi | In this article
The world is moving fast, and unexpected events can spill over into the economy and markets, ultimately hitting consumer and business confidence, and influencing spending and investment decisions on both Main Street and Wall Street.
The current war between Russia and Ukraine is an example. But whether it's another Covid wave, or the Federal Reserve becoming more hawkish to fight inflation, or geopolitics, there are a lot of variables in play.
More C-suites are leaning into a dynamic planning approach, thinking in a cycle that isn't measured in the next year, but over the next three months — creating shorter-term chunks of time that allow management teams to react to new realities rather than become fixated on a multi-year plan. Companies still need to have a vision of where they want to be a decade out, but the cycles within that need to be managed with greater speed.
But there's another way to look at this — you can plan in advance for what you can't predict and don't necessarily expect. And you should. Take inflation as an example.
The market and investors are asking a lot of questions about inflation, and the C-suite may have to respond in the moment. But Eli Lilly's CFO Anat Ashkenazi says the current inflation overshoot is a reminder of the importance of long-term planning around `` what if '' scenarios that may not be the base case for a business.
In 2020, Eli Lilly's management team decided to run a `` what if '' scenario for hyper-inflation. That's not because the company was making a brilliant call on the inflation trajectory to come. `` We were not visionary, '' Ashkenazi says. But every year, Eli Lilly management asks some big questions as part of its formal planning process. As Ashkenazi frames it: `` What could cause us to fail to achieve everything we set out to achieve? … What could cause us to have a completely different strategy as an organization? ''
Inflation is just one example, and not even the best example for Lilly, since it has a modest impact on its financials. Other `` what ifs '' that go to the heart of its business include changes in law related to IP protection and drug pricing.
Her point: All companies need to ask these questions at a macro and company-specific level as part of risk management.
`` We 've done this religiously, '' Ashkenazi says, who served as chief strategy officer at Lilly before taking on the CFO role.
Completing Six Sigma black belt management training years ago, especially what is known as process failure mode analysis, has been helpful in developing this mindset, Ashkenazi says, and it has led to more efficiency and discipline when collecting data and implementing strategic planning and organizational transformation.
`` When you do 'what ifs ' you can get the specific risk wrong, but have a broad enough set of risks covered, '' she says.
Lilly also reaches out to companies beyond its own industry to discuss topics of interest, which Ashkenazi says has been `` incredibly helpful '' in gaining additional context and expertise. Talking to CFOs and chief strategy officers from other sectors of the economy, hearing from them on learnings and pitfalls as they have grown companies, can help manage one persistent risk within an organization, and circumvents the trickier issue of discussing these ideas with rivals.
CFOs are more externally focused than other leaders because of the constituents that the role requires interaction with, such as shareholders. Nevertheless, Ashkenazi says, `` It can be easy to be insular at any company, focused on the day-to-day. '' As a C-suite, she says companies should lean into `` the institutional notion of looking outside. '' | business |
Shell first quarter 2022 update note | The following is an update to the first quarter 2022 outlook. Impacts presented may vary from the actual results and are subject to finalisation of the first quarter 2022 results, published on May 5, 2022. Unless otherwise indicated, all outlook statements exclude identified items.
The prevailing volatility in commodity prices has led to larger ranges in the financial guidance for the quarter. Adjusted Earnings and Adjusted EBITDA updates are provided at a segment level while the CFFO update is provided at a Shell Group level.
This update note follows the 2021 segmentation to enable comparison with the fourth quarter 2021 results. From the first quarter results publication onwards we will align our reporting segments with our Powering Progress strategy and provide additional transparency in our Growth pillar. The Renewables & Energy Solutions business will be reported separately from Integrated Gas. Oil Products and Chemicals will be reorganised into two segments – Marketing and Chemicals & Products. The Shales assets in Canada will be reported as part of the Integrated Gas segment instead of the Upstream segment. There is no impact on a Shell Group level.
For the first quarter 2022 results, the post-tax impact from impairment of non-current assets and additional charges ( e.g. write-downs of receivable, expected credit losses, and onerous contracts) relating to Russia activities are expected to be $ 4 to $ 5 billion. These charges are expected to be identified and therefore will not impact Adjusted Earnings. Details of the accounting treatment and impact of ongoing developments will be provided at the first quarter 2022 results announcement.
The Adjusted Earnings and CFFO price and margin sensitivities are indicative and subject to change. These are in relation to the full-year results and exclude short-term impacts from working capital movements, production seasonality, cost-of-sales adjustments and derivatives. Sensitivity accuracy is subject to trading and optimisation performance, including short-term opportunities, depending on market conditions. These sensitivities are reviewed and updated annually.
The indicative margin is an approximation of Shell’ s global gross refining unit margin, calculated using price markers from third parties’ databases. It is based on a simplified crude and product yield profile at a nominal level of refining performance. The actual margins realised by Shell may vary due to factors including specific local market effects, refinery maintenance, crude diet optimisation, operating decisions and product demand.
Gross refining unit margin is defined as the hydrocarbon margin net of purchased/sold utilities, additives and relevant freight costs, divided by crude and feedstock intake in barrels. It is only applicable to the impact of market pricing on refining business performance, excluding trading margin.
Actual historical indicative margins based on the 2021 indicative margin formula are available on the Refining & Trading page in the Quarterly Data Book.
The formula provided will be reviewed quarterly and typically updated annually, reflecting any changes in our refining portfolio.
UPDATED Calculation formula ( $ /bbl) - note that brackets indicate a negative signBrent * ( 29.0%) + MSW * ( 11.5%) + LLS * ( 16.0%) + Dubai * ( 33.5%) + Urals CIF EU * ( 7.5%) + NWE Naphtha ( RDAM FOB Barge) * 9.5% + NWE Mogas premium unleaded * 13.0% + NWE Kero * 12.0% + NWE AGO * 27% + NWE Benzene * 1% + Sing Fueloil 380 cst * 7.5% + USGC Normal Butane * 3.5% + USGC LS No 2 Gasoil * 8.0% + USGC Natural Gas * ( 2.0%) +TTF Natural Gas * ( 1%) + USGC CBOB * 14.5% + RINS * ( 22.0%) + NWE Propylene Platts * 1% – $ 0.92/bbl
Urals CIF EU benchmark weighting has reduced from 13% to 7.5% following the decision to stop buying Russian crude on the spot market. Shell has not renewed longer-term contracts for Russian oil, and will only do so under explicit government direction, but we are legally obliged to take delivery of crude bought under contracts that were signed before the invasion. The current volatile state of oil markets and the ongoing efforts to reduce term volumes of Russian sourced feedstock, may mean this formula will be updated on quarterly basis in 2022.
The consensus collection for quarterly Adjusted Earnings, Adjusted EBITDA according to the 2021 segmentation and CFFO & CFFO excluding working capital movements at a Shell group level, managed by Vara research, will be published on 28 April 2022. Second quarter 2022 consensus will be collected in July based on the revised ( 2022) segmentation.
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “ Shell ”, “ Shell Group ” and “ Group ” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “ we ”, “ us ” and “ our ” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘ ‘ Subsidiaries’’, “ Shell subsidiaries ” and “ Shell companies ” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “ joint ventures ” and “ joint operations ”, respectively. “ Joint ventures ” and “ joint operations ” are collectively referred to as “ joint arrangements ”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “ associates ”. The term “ Shell interest ” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
Forward-Looking StatementsThis announcement contains forward-looking statements ( within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’ s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’ s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “ aim ”, “ ambition ”, ‘ ‘ anticipate’’, ‘ ‘ believe’’, ‘ ‘ could’’, ‘ ‘ estimate’’, ‘ ‘ expect’’, ‘ ‘ goals’’, ‘ ‘ intend’’, ‘ ‘ may’’, “ milestones ”, ‘ ‘ objectives’’, ‘ ‘ outlook’’, ‘ ‘ plan’’, ‘ ‘ probably’’, ‘ ‘ project’’, ‘ ‘ risks’’, “ schedule ”, ‘ ‘ seek’’, ‘ ‘ should’’, ‘ ‘ target’’, ‘ ‘ will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including ( without limitation): ( a) price fluctuations in crude oil and natural gas; ( b) changes in demand for Shell’ s products; ( c) currency fluctuations; ( d) drilling and production results; ( e) reserves estimates; ( f) loss of market share and industry competition; ( g) environmental and physical risks; ( h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; ( i) the risk of doing business in developing countries and countries subject to international sanctions; ( j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; ( k) economic and financial market conditions in various countries and regions; ( l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; ( m) risks associated with the impact of pandemics, such as the COVID-19 ( coronavirus) outbreak; and ( n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’ s Form 20-F for the year ended December 31, 2021 ( available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, April 7, 2022. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.
Also, in this announcement we may refer to Shell’ s “ Net Carbon Footprint ” or “ Net Carbon Intensity ”, which include Shell’ s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’ s “ Net Carbon Footprint ” or “ Net Carbon Intensity ” are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.
Shell’ s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint ( NCF) targets over the next ten years. However, Shell’ s operating plans can not reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’ s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.
This announcement may contain certain forward-looking non-GAAP measures such as IFRS, including Adjusted Earnings, “ Adjusted EBITDA ”, Cash flow from operating activities excluding working capital movements, Cash capital expenditure, Net debt and Underlying opex.
Adjusted Earnings and Adjusted EBITDA are measures used to evaluate Shell’ s performance in the period and over time.The “ Adjusted Earnings ” and Adjusted EBITDA are measures which aim to facilitate a comparative understanding of Shell’ s financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items. Adjusted Earnings is defined as income/ ( loss) attributable to shareholders adjusted for the current cost of supplies and excluding identified items. “ Adjusted EBITDA ( CCS basis) ” is defined as “ Income/ ( loss) for the period ” adjusted for current cost of supplies; identified items; tax charge/ ( credit); depreciation, amortisation and depletion; exploration well write-offs and net interest expense. All items include the non-controlling interest component. Cash flow from operating activities excluding working capital movements is a measure used by Shell to analyse its operating cash generation over time excluding the timing effects of changes in inventories and operating receivables and payables from period to period. Working capital movements are defined as the sum of the following items in the Consolidated Statement of Cash Flows: ( i) ( increase) /decrease in inventories, ( ii) ( increase) /decrease in current receivables, and ( iii) increase/ ( decrease) in current payables. Cash capital expenditure is the sum of the following lines from the Consolidated Statement of Cash flows: Capital expenditure, Investments in joint ventures and associates and Investments in equity securities. Net debt is defined as the sum of current and non-current debt, less cash and cash equivalents, adjusted for the fair value of derivative financial instruments used to hedge foreign exchange and interest rate risks relating to debt, and associated collateral balances. Underlying operating expenses is a measure of Shell’ s cost management performance and aimed at facilitating a comparative understanding of performance from period to period by removing the effects of identified items, which, either individually or collectively, can cause volatility, in some cases driven by external factors. Underlying operating expenses comprises the following items from the Consolidated statement of Income: production and manufacturing expenses; selling, distribution and administrative expenses; and research and development expenses and removes the effects of identified items such as redundancy and restructuring charges or reversals, provisions or reversals and others.
We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which can not be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’ s consolidated financial statements.The contents of websites referred to in this announcement do not form part of this announcement.
We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission ( SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. | general |
Business Rules Management System Market is predicted to | April 07, 2022 15:30 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, April 07, 2022 ( GLOBE NEWSWIRE) -- The global business rules management system market is estimated to grow at an impressive CAGR of 10.6%. It is poised to reach a valuation of nearly US $ 3.5 Bn by 2032, from US $ 1.3 Bn in 2022.
The increased requirement to handle regulatory and compliance policies, as well as the formalization of corporate activities, are the primary drivers of the business rules management system market.
However, a lack of paperwork on business laws may stifle market expansion. On the contrary, firms ' increased focus on data-driven decision making is a positive element for the global business rules management system market.
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Impact of COVID-19 on Business Rules Management System MarketBusiness rules are easily altered and expressed in a straightforward manner for easy comprehension. Furthermore, the necessity for development type is minimized to a greater level, as business rules can be produced by anybody with vendor-specific business rules expertise and software skills.
IT managers may be able to take management of rule modifications and life cycles, decreasing dependency on IT developers and lowering confusion. As a result, compared to a traditional software environment, designing and deploying rules takes less time.
Furthermore, the usage of business rules management system software and services is being driven by the growing use of automated rule deployment processes. These software and services offer advantages, including speedier, error-free, and cost-effective business development and deployment.
Growth Outlook for the Global Business Rules Management System Market According to Different SegmentsThe business rules management system market is segmented into deployment type, component, vertical and region.
BFSI firms are using modern technologies and business rules management system software and services to improve their operational efficiency in order to combat business challenges. During the forecast period, the BFSI sector is likely to be a prominent contributor to the business rules management system market's growth.
Different Segments of the Business Rules Management System Market based on ComponentsBy component, the FMI study finds that the system has the highest sales potential through 2032. The adoption of software systems is likely to grow at a CAGR of 10.1% during the forecast period.
Consumer demand for software systems, due to a flexible guiding framework for judging whether behaviors are permissible in every particular situation, pushes the bar of the business rules management system market.
Which Enterprise holds the Largest Business Rules Management System Market share? Large enterprises are likely to boost their need for business rules management systems during the forecast period. Large enterprises are rapidly adopting business rules management system software and services, and this trend is projected to continue during the forecast period.
To boost their total production and efficiency, large businesses are heavily investing in modern technologies. Large enterprises are putting a lot of effort into making cloud-native application operations and management easier on any cloud, and even across clouds.
To learn more about Business Rules Management System Market, you can get in touch with our Analyst at https: //www.factmr.com/connectus/sample? flag=AE & rep id=7210
Competitive OutlookHow Strong is the Competitive Landscape for the Business Rules Management System Market? With numerous established multinational competitors competing in the global business rules management system market, many businesses compete with little or no product difference. As a result, many businesses are aggressively seeking out strategic mergers and acquisitions in order to expand their market dominance.
Get Customization on this Business Rules Management System Demand Report for Specific Research Solutions at https: //www.factmr.com/checkout/7210
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Computerized, rolling DNA motors move molecular robotics to next level | Apr 07, 2022
Computerized, rolling DNA motors move molecular robotics to next level ( Nanowerk News) Chemists integrated computer functions into rolling DNA-based motors, opening a new realm of possibilities for miniature, molecular robots. Nature Nanotechnology ( Chemical-to-mechnical molecular computation using DNA-based motors with onboard logic) published the development, the first DNA-based motors that combine computational power with the ability to burn fuel and move in an intentional direction.
“ One of our big innovations, beyond getting the DNA motors to perform logic computations, is finding a way to convert that information into a simple output signal — motion or no motion, ” says Selma Piranej, an Emory University PhD candidate in chemistry, and first author of the paper. “ This signal can be read by anyone holding a cell phone equipped with an inexpensive magnifying attachment. ”
The high speed of the rolling DNA-based motor allows a simple smart phone microscope to capture its motion through video. ( Image: Emory University)
“ Selma’ s breakthrough removes major roadblocks that stood in the way of making DNA computers useful and practical for a range of biomedical applications, ” says Khalid Salaita, senior author of the paper and an Emory professor of chemistry at Emory University. Salaita is also on the faculty of the Wallace H. Coulter Department of Biomedical Engineering, a joint program of Georgia Tech and Emory.
The motors can sense chemical information in their environment, process that information, and then respond accordingly, mimicking some basic properties of living cells.
“ Previous DNA computers did not have directed motion built in, ” Salaita says. “ But to get more sophisticated operations, you need to combine both computation and directed motion. Our DNA computers are essentially autonomous robots with sensing capabilities that determine whether they move or not. ”
The motors can be programmed to respond to a specific pathogen or DNA sequence, making them a potential technology for medical testing and diagnostics.
Another key advance is that each motor can operate independently, under different programs, while deployed as a group. That opens the door for a single massive array of the micron-sized motors to carry out a variety of tasks and perform motor-to-motor communication.
“ The ability for the DNA motors to communicate with one another is a step towards producing the kind of complex, collective action generated by swarms of ants or bacteria, ” Salaita says. “ It could even lead to emergent properties. ”
DNA nanotechnology takes advantage of the natural affinity for the DNA bases A, G, C and T to pair up with one another. By moving around the sequence of letters on synthetic strands of DNA, scientists can get the strands to bind together in ways that create different shapes and even build functioning machines.
The Salaita lab, a leader in biophysics and nanotechnology, developed the first rolling DNA-based motor in 2015. The device was 1,000 times faster than any other synthetic motor, fast-tracking the burgeoning field of molecular robotics. Its high speed allows a simple smart phone microscope to capture its motion through video.
The motor’ s “ chassis ” is a micron-sized glass sphere. Hundreds of DNA strands, or “ legs ” are allowed to bind to the sphere. These DNA legs are placed on a glass slide coated with the reactant RNA, the motor’ s fuel. The DNA legs are drawn to the RNA, but as soon as they set foot on it they erase it through the activity of an enzyme that is bound to the DNA and destroys only RNA. As the legs bind and then release from the substrate, they keep guiding the sphere along.
When Piranej joined the Salaita lab in 2018, she began working on a project to take the rolling motors to the next level by building in computer programming logic.
“ It’ s a major goal in the biomedical field to take advantage of DNA for computation, ” Piranej says. “ I love the idea of using something that’ s innate in all of us to engineer new forms of technology. ”
DNA is like a biological computer chip, storing vast amounts of information. The basic units of operation for DNA computation are short strands of synthetic DNA. Researchers can change the “ program ” of DNA by tweaking the sequences of AGTC on the strands.
“ Unlike a hard, silicon chip, DNA-based computers and motors can function in water and other liquid environments, ” Salaita says. “ And one of the big challenges in fabricating silicon computer chips is trying to pack more data into an ever-smaller footprint. DNA offers the potential to run many processing operations in parallel in a very small space. The density of operations you could run might even go to infinity. ”
Synthetic DNA is also biocompatible and cheap to make. “ You can replicate DNA using enzymes, copying and pasting it as many times as you want, ” Salaita says. “ It’ s virtually free. ”
Limitations remain, however, in the nascent field of DNA computation. A key hurdle is making the output of the computations easily readable. Current techniques heavily rely on tagging DNA with fluorescent molecules and then measuring the intensity of emitted light at different wavelengths. This process requires expensive, cumbersome equipment. It also limits the signals that can be read to those present in the electromagnetic spectrum.
Although trained as a chemist, Piranej began learning the basics of computer science and diving into bioengineering literature to try to overcome this hurdle. She came up with the idea of using a well-known reaction in bioengineering to perform the computation and pairing it with the motion of the rolling motors.
The reaction, known as toehold-mediated strand displacement, occurs on duplex DNA — two complementary strands. The strands are tightly hugging one another except for one loose, floppy end of a strand, known as the toe hold. The rolling motor can be programmed by coating it with duplex DNA that is complementary to a DNA target — a sequence of interest.
When the molecular motor encounters the DNA target as it rolls along its RNA track, the DNA target binds to the toe hold of the duplex DNA, strips it apart, and anchors the motor into place. The computer read out becomes simply “ motion ” or “ no motion. ”
“ When I first saw this concept work during an experiment, I made this really loud, excited sound, ” Piranej recalls. “ One of my colleagues came over and asked, ‘ Are you okay?’ Nothing compares to seeing your idea come to life like that. That’ s a great moment. ”
These two basic logic gates of “ motion ” or “ no motion ” can be strung together to build more complicated operations, mimicking how regular computer programs build on the logic gates of “ zero ” or “ one. ”
Piranej took the project even further by finding a way to pack many different computer operations together and still easily read the output. She simply varied the size and materials of the microscopic spheres that form the chassis for the DNA-based rolling motors. For instance, the spheres can range from three to five microns in diameter and be made of either silica or polystyrene. Each alteration provides slightly different optical properties that can be distinguished through a cell phone microscope.
The Salaita lab is working to establish a collaboration with scientists at the Atlanta Center for Microsystems Engineered Point-of-Care Technologies, an NIH-funded center established by Emory and Georgia Tech. They are exploring the potential for the use of the DNA-computing technology for home diagnostics of COVID-19 and other disease biomarkers.
“ Developing devices for biomedical applications is especially rewarding because it’ s a chance to make a big impact in people’ s lives, ” Piranej says. “ The challenges of this project have made it more fun for me, ” she adds.
Source: By Carol Clark, Emory University
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XR Immersive Tech Launches Operator Program for Crypto | April 07, 2022 07:45 ET | Source: XR Immersive Tech Inc. XR Immersive Tech Inc.
VANCOUVER, British Columbia, April 07, 2022 ( GLOBE NEWSWIRE) -- XR Immersive Tech Inc. ( “ Immersive Tech ”, or the “ Company ”) ( CSE: VRAR) ( FSE:79W) ( OTCQB: FNTTF) is pleased to announce their new beta program which will allow operators to harness the GPU power of the high performance workstations within the UNCONTAINED Hyper-Immersive™ VR attractions, dubbed the Physical Portal to the Metaverse, as outlined in the Company’ s recent Corporate Update press release. This solution will enable operators to opt into the program and automatically mine while the attraction is not in use and in off-hours. At the core, the collective power of UNCONTAINED installed units will form a highly capable and scalable mining network that is centrally managed by XR Immersive Tech.
Utilizing the high performance power of Nvidia GeForce RTX 30 Series graphics cards installed in the UNCONTAINED VR Hyper-Immersive™ attractions, operators will have the option to enable and allocate these powerful machines for so much more than running VR experiences. Mining in off-hours takes full advantage of the computer horsepower installed within the UNCONTAINED attraction to drive additional revenue opportunities for operators while also driving revenue for the company. Further, it’ s a step forward within the company to further its crypto based endeavors, and build out further knowledge and partnerships in blockchain technologies.
Crypto mining enthusiasts agree that the Nvidia GeForce RTX 30 series GPU cards are one of the most efficient, with the highest hash rates for mining on the market. The solution will allow operators to easily opt-in and requires no set up on their end or prior knowledge of crypto mining. XR Immersive Tech’ s network management procedure for these mining locations will ensure a simple and reliable protocol for operators to effectively switch between the gaming and mining backend modes or simply automate mining for overnight closed hours.
In addition to these coins, XR Immersive Tech will review and add new coins based on market assessment.
XR Immersive Tech’ s CEO, Tim Bieber, says, “ Our goal is to create the best hyper-immersive attraction for consumers with the best ROI in the industry for operators. With the addition of our centralized crypto mining solution operators can now experience even greater revenue generating power from their UNCONTAINED standalone VR attraction taking advantage of off-hours like never before. ”
Tim Bieber, Director and Chief Executive OfficerXR Immersive Tech Inc. ( formerly Fantasy 360 Technologies Inc. d/b/a Immersive Tech) https: //www.immersivetech.co/
Contact - Tim BieberEmail: investors @ immersivetech.coTelephone: +1-604-283-3029
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Immersive Tech ( formerly Fantasy 360 Technologies Inc.) is building the industry’ s premier location-based Metaverse Platform. Since 2016 the Company has been an industry leader in Social Entertainment, Virtual Reality ( VR) and Augmented Reality ( AR) entertainment attractions. With its Hardware Platform UNCONTAINED and its Software Platform Uncontained/OS and its growing network of over 300 VR operators through SynthesisVR, the Company helps its stakeholders build user experiences unmatched in realism, depth and immersion. The Company builds experiences on its platforms for some of the world's largest companies including: Intel, Bayer, Capital One, Scotia Bank, the US Food and Drug Administration, Allegiant Airlines and more.
This news release contains “ forward-looking information ” and “ forward-looking statements ” ( collectively, “ forward-looking information ”) within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “ believes ”, “ expects ”, “ anticipates ”, “ estimates ”, “ intends ”, “ plans ”, “ continues ”, “ project ”, “ potential ”, “ possible ”, “ contemplate ”, “ seek ”, “ goal ”, or similar expressions, or may employ such future or conditional verbs as “ may ”, “ might ”, “ will ”, “ could ”, “ should ” or “ would ”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company and SynthesisVR, future performance and future growth, development initiatives, business prospects, synergies and opportunities of Immersive Tech and SynthesisVR and their related subsidiaries, the Company’ s expansion initiatives and pursuit of M & A activity, and other factors beyond the Company’ s control.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’ s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to capitalize on the services and business of SynthesisVR, the easing of world-wide COVID restrictions and effect on the LBVR industry, the increase in VR arcades and demand for VR entertainment and educational content, the Company’ s and SynthesisVR’ s operations and development initiatives, and such other assumptions presented in the Company’ s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Immersive Tech disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Regulation Services Provider ( as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. | general |
News Showcase is launching in Slovakia | Journalists have long been committed to providing reliable information to people when they need it, with the last few weeks proving this more than ever. With products like Search and News, Google is committed to helping people find reliable and relevant information.
Today we're going further in our support for journalism in Slovakia by rolling out Google News Showcase, our product and licensing program for news publishers.
Google has signed partnerships with six Slovak publications including national news outlets, a television broadcaster and a press agency, which provide essential news coverage to people all over the country. The titles included in the News Showcase launch in Slovakia are Nový čas, Denník N, SME, TA3, Topky and Webnoviny. We’ ll continue to work with other news partners in the country to add additional resources in the future. News Showcase is part of our global investment in news and reinforces our commitment to journalism in Slovakia and around the world.
News Showcase panels can appear on Google products, currently on News and Discover, and direct readers to the full articles on publishers’ websites, helping them deepen their relationships with readers. Panels will also include extended access to paywalled content from select participating publishers to give readers even more from their favorite sources, with the intention of leading to more subscribers for the news organization. In addition to the revenue that comes directly from these more-engaged readers, participating publishers will receive monthly licensing payments from Google.
“ At SME, we realize that only high-quality and independent journalism will gain long-term support from subscribers, ” says Peter Macinga, Chief Digital Officer of Petit Press, the publisher of SME and of other national and regional news titles in Slovakia. “ We appreciate our partnership with Google on News Showcase, which will make our premium content available to an even larger audience. ”
“ Dennik N only exists thanks to the support of our subscribers, and we are therefore always looking for ways to provide them with faster and more convenient access to information, ” says Lukas Fila, CEO of N Press, the first Slovak national publisher that made a move to derive the majority of their revenue from subscriptions. “ Google News Showcase is a new way for our interviews, investigative journalism and analyses to reach readers. With the free access to some of our normally paywalled content, brand new audiences will be able to try out access to our paid articles. ”
Since we launched News Showcase in October 2020, we’ ve signed deals with more than 1,400 news publications around the world and have launched in 15 countries including India, Japan, Germany, Portugal, Brazil, Austria, the U.K., Australia, Czechia, Italy, Colombia, Argentina, Canada, Ireland and now Slovakia, bringing more in-depth, essential news coverage to Google News and Discover users.
“ As one of the longest established media companies in Slovakia, we are glad to be among the first to participate in this Google project, ” says Samuel Schlarmann, Digital Media director of news agency SITA, a national news outlet. “ We are glad that we can develop our journalistic, analytical and digital skills in this direction. We see our partnership in Google News Showcase as an opportunity to bring our work closer to new readers, and we firmly believe that we will enrich the Google platform with quality content. ”
Google News Showcase is our latest effort to support publishers and the news industry in Slovakia. We supported 12 local Slovak newsrooms through the Google News Initiative’ s Journalism Emergency Relief Fund to help them continue their vital work during the COVID-19 pandemic, and provided 1.5 million euros to support six Digital News Innovation Fund experimental news projects, from titles such as SME, Denník N, Postoj and Vot. Around the world, the Google News Initiative has supported more than 7,000 news partners in over 120 countries and territories. Since 2015, the Google News Lab has trained more than 300 Slovak journalists, newsroom staff and journalism students on a range of digital tools to help them research, verify and visualize their stories.
Google also sends eight billion visits each month to European news websites from products like Search and News, which publishers can monetize with online advertising and subscriptions on their websites and apps. Our ad technologies enable news organizations to sell their ad space to millions of advertisers globally.
We’ re dedicated to continuing our contribution to and collaboration with the news ecosystem, supporting the open web and continuing to provide access to information in Slovakia and elsewhere.
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Letter to Oncotelic Shareholders on the Recently Completed | April 07, 2022 10:00 ET | Source: Oncotelic Therapeutics, Inc. Oncotelic Therapeutics, Inc.
AGOURA HILLS, Calif., April 07, 2022 ( GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc. ( “ Oncotelic ” or the “ Company ”) ( OTCQB: OTLC), issued the following shareholder letter today.
We would like to thank you for being part of our mission at Oncotelic which is to develop treatments for cancer patients that have limited options. Our efforts include pursuing broad applications of our technology as well as the treatment of cancer types that are given orphan drug designation ( “ ODD ”) meaning there are a limited number of patients that have a high unmet medical need. We have spent considerable time and effort to unify our collective assets toward the achievement of this goal. This effort included receiving a Rare Pediatric Disease ( “ RPD ”) designation for pediatric cancer which give us access to the RPD voucher on top of the regulatory exclusivity reserved for ODD while we continue strategic planning for broader applications of our technologies. Taken together, these efforts give us the potential to produce a strong return on investment for our shareholders
Earlier this week, we announced together with our partner Dragon Overseas Capital Limited ( “ Dragon Overseas ”), that we have formed a joint venture ( the “ JV ”) for the discovery, development and commercialization TGF-β therapeutics against all pharmaceutical indications. The JV intends to initially focus on the further development and commercialization of OT-101, including for DIPG as well as pancreatic cancers and glioblastoma, which are devasting diseases with few treatment options. In connection with this, the Company has granted the JV global, exclusive, perpetual, royalty-free license of intellectual property rights, including and in respect of OT-101 ( the “ License ”).
Our TGF-beta drug candidate- OT-101 has completed seven clinical trials including one phase 2 trial in COVID and two phase 2 trials in brain cancer and against pancreatic cancer. We received FDA designation for pediatric designation related to a rare form of pediatric brain cancer known as diffuse intrinsic pontine glioma ( “ DIPG ”). There are approximately 200-300 new cases of DIPG every year in the United States. DIPG most often occurs in children ages 5-10 years old. Treatment options are limited with surgery being contraindicated. Most children do not survive more than 2 years after diagnosis. Currently, the main treatment for DIPG is radiation therapy. Although radiation temporarily improves symptoms in most patients, it is not a cure. Palliative care or quality of life services help patients and families manage pain and other symptoms, promote quality of life, and making difficult decisions including treatment choices and end of life care. At Oncotelic, we are dedicated to the treatment of DIPG and welcome our shareholders on this endeavor.
The anti-viral activity of OT-101, in an in vitro antiviral testing performed by an independent laboratory, OT-101 has an 50% effective concentration ( EC50) of 7.6 µg/mL and is not toxic at the highest dose of 1000 µg/mL giving a safety index ( SI) value of > 130, which is considered highly active and on par or superior to Remdesivir. Unlike Remdesivir, OT-101 targets not only the virus replication but also the virus induced pneumonia and fibrosis. Our Phase 2 trial was completed for OT-101 in South America. This was a randomized, double-blind, placebo-controlled Phase 2 study intended to evaluate the safety and efficacy of OT-101 in adult patients hospitalized with positive SARS-CoV-2 and pneumonia. As reported on November 23, 2021, the top line data is positive for safety and efficacy.
This transaction allows us to unburden the Company of the high cost of drug development, which the JV will be responsible for, while the Company will participate in its upside through appreciation in the value of its shares in the JV and up to $ 50MM on the sale of the RPD voucher following marketing approval of OT-101 for DIPG. Dragon Overseas has agreed to invest cash and other assets with a value of approximately $ 27.6MM for 55% ownership of the JV; and Oncotelic has granted the License to the JV for 45% ownership in the JV.
The fuel needed to drive OT-101 development is robust financing- and the JV provides that. This combination of strong financial backing and strong asset creates a solid foundation for the coming IPO. We believe that the JV IPO will be as successful as other recent IPOs in the TGF-β space. We believe that there is a substantial upside for the Company due to this JV especially if we are able to have a successful IPO. Your attention is drawn to Litchfield’ s analyst, Theodore R. O’ Neill’ s recent coverage on the Company. ( https: //www.oncotelic.com/wp-content/uploads/2022/03/OTLC-JV-update.pdf).
In the coming months the team will be transitioning into the JV to ensure continuity of operational excellence. Look for future announcements on clinical trials undertaken by the JV in collaboration with pharmaceutical houses and Key Opinion Leaders “ KOLs ”. Dr. Anthony Maida, our current CCO, will drive the JV’ s clinical development of OT-101 in combination with checkpoint inhibitors including pembrolizumab. Multiple phase 2 clinical trials are intended to be launched with our collaborators. Dr. Maida believes that this Joint Venture provides the resources and financial support for Oncotelic allowing to execute its clinical strategy in multiple solid tumor indications coupled with a robust and thorough bioinformatics assessment leading to upstream targeting, improved clinical responses and insights into agnostic applications.
We appreciate your continued support in our development of cures for orphan and rare diseases. By combining innovative drugs and robust financing we look to transform healthcare one rare disease at a time.
Oncotelic ( f/k/a Mateon Therapeutics, Inc.), was formed in the State of New York in 1988 as OXiGENE, Inc., was reincorporated in the State of Delaware in 1992, and changed its name to Mateon Therapeutics, Inc. in 2016, and Oncotelic Therapeutics, Inc. in November 2020. Oncotelic is seeking to leverage its deep expertise in oncology drug development to improve treatment outcomes and survival of cancer patients with a special emphasis on rare pediatric cancers. Oncotelic has rare pediatric designation for DIPG ( OT-101), melanoma ( CA4P), and AML ( OXi 4503). Oncotelic also acquired PointR Data Inc. in November 2019.
Additionally, Oncotelic acquired AL-101, during the 4th quarter of 2021, for the intranasal delivery of apomorphine. We intend to develop AL-101 for the treatment of Parkinson Disease ( “ PD ”). Over 60,000 new patients are being diagnosed with PD in the United States and currently there are over 1 million patients in the US and expected to increase to over 1.2 million by 2030. In addition, approximately 10 million suffer from this disease globally. https: //www.parkinson.org/Understanding-Parkinsons/Statistics. AL-101 is also being developed for Erectile Dysfunction ( “ ED ”). ED is the most prevalent male sexual disorder globally. The percentages of men affected by ED are as follows: 14.3-70% of men aged ≥60 years, 6.7-48% of men aged ≥70 years, and 38% of men aged ≥80 years ( Geerkens MJM et al. ( 2019). Eur Urol Focus. pii: S2405-4569 ( 19) 30079-3). However, with the increasing administration of PDE5 inhibitors in clinical practice, it was found that approximately 30-35% of ED patients are treatment failures ( McMahon CN et al. ( 2006). BMJ, 332: 589-92). AL-101 is designed to target treatment failure ED patients who do not respond to PDE5 inhibitors. Through similar mechanism of action, AL-101 is being developed for Female Sexual Dysfunction ( “ FSD ”). Female sexual dysfunction is a prevalent problem, afflicting approximately 40% of women and there are few treatment options. FSD is more typical as women age and is a progressive and widespread condition. ( Allahdadi, KJ et al. ( 2009) Cardiovascular & hematological agents in medicinal chemistry, 7 ( 4), 260–269). There is no available drug for the treatment of FSD. In June 2019, the U.S. Food and Drug Administration approved Vyleesi ( bremelanotide) to treat acquired, generalized hypoactive sexual desire disorder ( “ HSDD ”) in premenopausal women. This is the only available drug treatment. Vyleesi has essentially replaced the only other drug for HSDD – however, it has a long list of drug-drug interactions, including commonly used antidepressants, such as fluoxetine and sertraline. In addition, it has a black box warning regarding its use with alcohol, a combination that has been associated with hypotension and syncopal episodes. Therefore, there is an urgent need for effective therapy against FSD and HSDD.
For more information, please visit www.oncotelic.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this communication regarding strategy, future operations, future financial position, prospects, plans and objectives of management are forward-looking statements. Words such as `` may '', `` expect '', `` anticipate '' `` hope '', `` vision '', `` optimism '', `` design '', `` exciting '', `` promising '', `` will '', `` conviction '', `` estimate, '' `` intend, '' `` believe '', `` quest for a cure of cancer '', `` innovation-driven '', `` paradigm-shift '', `` high scientific merit '', `` impact potential '' and similar expressions are intended to identify forward-looking statements. Forward¬ looking statements contained in this press release include, but are not limited to, statements about future plans related to the operations of the JV, taking the JV into an initial public offering or the success thereof, the analysis of third party on the stock price of the Company, the progress, timing of clinical development, scope and success of future clinical trials, the reporting of clinical data for the company's product candidates and the potential use of the company's product candidates to treat various cancer indications as well as obtaining required regulatory approval to conduct clinical trials and upon granting of approval by the regulatory agencies, the successful marketing of the products. Each of these forward-looking statements involves risks and uncertainties, and actual results may differ materially from these forward-looking statements. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, failure of collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. These risks are not exhaustive, the company faces known and unknown risks, including the risk factors described in the Company's annual report on Form 10-K filed with the SEC on April 15, 2021 and in the company's other periodic filings. Forward-looking statements are based on expectations and assumptions as of the date of this press release. Except as required by law, the company does not assume any obligation to update forward-looking statements contained herein to reflect any change in expectations, whether as a result of new information future events, or otherwise.
For Oncotelic Therapeutics, Inc.: Amit Shahashah @ oncotelic.com | general |
Influenza Vaccines Market Revenue of USD 9.5 Billion by | Pune, April 07, 2022 ( GLOBE NEWSWIRE) -- Global Influenza Vaccines Market report delivers a complete overview of key components like drivers, limitations, historic and current trends, technical development, and future growth. Research report contains company analysis, size, share, revenue and sales of the company, current advancements. Influenza Vaccines market analysis also focuses on the global key top industry players in the market, with details such as company profiles, capacity, production, price, cost, revenue.
The global influenza vaccines market is projected to exceed US $ 9.5 Billion mark by 2027, and is presenting ample opportunities to the industry’ s players. Influenza viruses are considered as a major cause of morbidity and mortality worldwide. The vast population base together with significantly low vaccination coverage in emerging markets, introduction of new vaccines, rising government support for immunization and growing awareness of the value of influenza vaccine in preventing disease are the prominent factors that will drive the influenza vaccines market. However, shortage of vaccine supply due to genetic assortment of the viral strains is surging the need for updating vaccines each year by the manufacturers. This is a major factor restraining market growth.
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The top players are concentrating mostly on technical developments in order to increase efficiency. The long-term growth patterns for this market can be taken by continuing the current development progresses and financial strength to participate in the best strategies.
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Influenza Vaccines market reports offers key study on the market position of the Influenza Vaccines manufacturers with facts and figures, definition, expert opinions and the latest expansions through the globe. The report also calculates the market size, sales, price, revenue, gross margin and market share, cost structure and growth rate.
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2. Impact of COVID-19 on Global Influenza Vaccines Market
3. Global - Influenza Vaccines Market Analysis and Forecast ( 2011 - 2027)
4. Global - Influenza Vaccines Market Share Analysis and Forecast ( 2011 – 2027)
5. Influenza Vaccines Market, Persons Vaccinated and Forecast - By Region ( 2011 - 2027)
6. Influenza Vaccines Market, Persons Vaccinated and Forecast - Country Wise Distribution ( 2011 - 2027)
7. Global Influenza Vaccines Market – Key Company Analysis
Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in depth market research. We are one of the top report resellers in the market, dedicated towards bringing you an ingenious concoction of data parameters. | general |
Free healthy grocery deliveries kept her community fed through the pandemic, but this chef's battle against food insecurity is far from over | Know someone who inspires you?
Click here to nominate them as a CNN Hero
.
New York ( CNN)
When the Covid-19 pandemic hit, Kim Calichio and her husband, like many people, saw their lives change overnight.
A former restaurant chef, Calichio had built a cooking and gardening business that halted completely, leaving her with no income. Her husband, Omar, also a chef, continued his restaurant job, working in close quarters that put him at risk amid the spreading virus.
`` My husband and I were like, at least I can get unemployment, '' Calichio said. `` Where there are five to 15 people that we know who aren't going to have that. ''
In an industry where people typically live paycheck to paycheck and many don't qualify for unemployment benefits, Calichio knew many restaurant workers wouldn't have a safety net to fall back on.
`` I had a choice to either sit here in my house and be overwhelmed, '' she said, `` or, I can do whatever it is that I could possibly do without thinking about whether it's going to work or not. ''
Read More
So, in early March 2020, the couple started a GoFundMe with the idea of purchasing fresh, healthy groceries wholesale and delivering them directly to those in need in their Astoria, Queens, community.
Within a week, they raised $ 10,000.
`` We thought the pandemic was going to be over in two weeks, '' Calichio said. `` So, we were like, 'We 'll spend this 10 grand and then we 'll go back to work. ' And that never happened. ''
Right away, they realized the need extended well beyond their restaurant community, and the program quickly grew to serve anyone in Queens. And so, the non-profit
The Connected Chef
was born.
`` We knew that we lived in a community that... has a big disparity, '' she said. `` And we wanted to bridge the gap between those who had and those who didn't. ''
The Connected Chef purchases most of its food from local farms. Grocery boxes are packed and then delivered by volunteers and staff directly to recipients ' homes.
`` We wanted to be able to do this in a way that was dignified and wasn't having people wait in a pantry line for four hours to wonder if they're even going to get food, '' Calichio said.
The organization delivers free groceries to 550 households each week and has 700 more on a waitlist. A household can stay in the program for as long as they need.
`` When you are food-insecure, you're not food-insecure just for a week and then you get food and then everything is better again, '' Calichio said. `` And so we wanted to make sure that we were a source of reliability. ''
Calichio's says her measure of success is the 125 households that have come off the free program. They are now in a better place where they can buy groceries on their own or opt into The Connected Chef's sliding scale program and pay what they can afford.
CNN Hero Kim Calichio
Although this work started in response to the pandemic, for Calichio, it is far from over.
`` We still have families calling us and thanking us, saying 'If we didn't have your groceries, we wouldn't have food, ' '' she said. `` Until we're able to create something that is self-sustaining and can be replicated, this work will continue. ''
CNN's Meg Dunn spoke with Calichio about her work. Below is an edited version of their conversation.
CNN:
What made you worry about your fellow restaurant workers when restaurants started to shut down in 2020?
Kim Calichio:
The majority of people who are working in restaurants are living paycheck to paycheck. It is largely made up of an immigrant community as well. So, a lot of individuals don't qualify for unemployment benefits. We knew that people were in dire need. When I say in a week's time my fridge is going to be empty, that was literally the position people were in.
There was no waiting, either. We didn't have time to say, `` Okay, let's set up this. And let's figure this out. '' Like, people needed food yesterday. And we needed to figure out how to help them.
CNN:
Why is it important to you to purchase local produce?
Calichio:
We source 80% of the produce from local farms in New York, New Jersey and Pennsylvania. Food is a central point in so many ways, but it also intersects with environmental justice and labor justice. On top of building something, we didn't want to be sourcing our ingredients from companies that were based in extraction. And we wanted to make sure that we're, as much as we possibly can, supporting small farms.
We're working really hard to support BIPOC farmers as well -- and make sure that where we're getting our food from is not supporting this large, big, agricultural business.
CNN:
How have you set up your non-profit to work differently from other organizations?
Calichio:
Our goal is to create a community-rooted food system -- from where the food is grown to how it gets to families ' homes. And every step of the way in between, we need to make sure that there's equity. That includes our staff and our team doing this work. It didn't make sense for us to build an organization where we have executives who are getting paid top-dollar. So, everybody on our team gets paid $ 20 an hour. Some of us work more or less hours than others. But the pay rate is the same. And when we get a raise, we all get a raise together.
My hope is that this work provides a model of doing things differently -- for communities all over to be able to see what we're doing and realize that it's possible and we don't have to do things business-as-usual.
Want to get involved? Check out
The Connected Chef's website
and see how to help.
To donate to The Connected Chef via GoFundMe,
click here | general |
OnCentive Acquires ACA Compliance Technology, SyncStream | BIRMINGHAM, Ala., April 07, 2022 ( GLOBE NEWSWIRE) -- OnCentive, a leader in tax credits and business incentives, today announced that it has completed the acquisition of SyncStream Solutions, LLC, the first-to-market comprehensive ACA compliance and reporting technology platform.
`` We are thrilled to announce our acquisition of SyncStream Solutions and welcome their clients, partners, and employees to OnCentive, '' said OnCentive CEO & Co-Founder Shannon Scott. `` Adding SyncStream's robust ACA compliance toolset into OnCentive's expanding portfolio allows us to further increase clients ' profitability by increasing their government compliance and mitigating their financial risk. ''
The SyncStream employees will remain based out of New Orleans, LA, and will have the expanded resources of OnCentive's Birmingham, AL, headquarters and nationally-located technology development and sales teams. Scott will assume the role of CEO for SyncStream, shifting SyncStream's interim CEO, Kevin Anhalt, to Chief Revenue Officer to grow strategic partnerships.
`` Today's announcement brings to market a powerful combination of technology and expertise to enable organizations of all sizes to effectively seize opportunities and remove barriers to business growth, '' said SyncStream's Kevin Anhalt. `` I 've personally known OnCentive's CEO, Shannon Scott, for over 12 years, and have long admired the skills and knowledge he brings to building dynamic, successful companies, and the inclusive, support-focused cultures he promotes. Team SyncStream is excited about working alongside Team OnCentive to provide our clients with continuity as well as expanded support and expertise, which will get them - and us - to the next level. ''
Both companies share the same dedication to compliance and risk mitigation and delivering simplified solutions to an employer's complex problems. The acquisition gives SyncStream's 4,000 clients access to OnCentive's state-of-the-art tax credit toolset and 100 years of combined tax credit expertise. The joint capabilities of the two organizations create a technology offering that provides clients the ability to navigate government compliance and capture government hiring incentives with minimal effort.
`` OnCentive's mission is to democratize business incentives by making it easy for business owners of any size to leverage complex government programs that can quickly increase their profitability, '' said Lindsay Morton, Chief Growth Officer of OnCentive. `` Using the same employee data, we can now help business owners identify and capture lucrative tax credits, track their ACA compliance, and increase their company's profitability, all without complicated paper processes and time-consuming manual labor. ''
ABOUT ONCENTIVE: OnCentive is a consulting firm that helps businesses maximize government incentives and tax credits to increase their profitability. Leveraging their leaderships ' 100 years of combined credit expertise and their state-of-the-art custom technology, OnCentive captured $ 1.5 billion in government incentives for clients, with $ 0 returned to the IRS. OnCentive's team of credit experts helps businesses affected by the COVID-19 pandemic to qualify and capture millions in Employee Retention Credits, as well as other federal and state incentive credits like the Work Opportunity Tax Credit, Research and Development Tax Credit, Disaster Employee Retention Credit, and many others.
ABOUT SYNCSTREAM: SyncStream's tracking solution monitors the ACA status of part-time and seasonal employees in real-time to determine if the business qualifies for applicable large employer status, and which employees qualify for employee-sponsored coverage. The reporting solution uses business logic to marry employer data with ACA analytics, ensuring full auditability and accurate filing with the IRS. In 2013, SyncStream was the first company to develop and bring to market a comprehensive ACA software solution. The company has successfully fulfilled over 6 million employee forms and served more than 16,000 customers with a 96% customer retention for both federal and state filings.
MEDIA CONTACT: Lindsay MortonChief Growth Officerpress @ oncentive.com2127 1st Ave N, Birmingham, AL 35203
Image 1: OnCentive Acquires SyncStream Solutions, LLC Shannon Scott, CEO and Co-Founder of OnCentive, becomes new CEO of SyncStream Solutions through acquisition.
This content was issued through the press release distribution service at Newswire.com. | general |
Bio-Rad Rival Wants Its COVID Test Tech Cleared Of IP Claims | The German molecular diagnostics provider Qiagen hit Bio-Rad Laboratories Inc. with a lawsuit in Delaware federal court Wednesday, asking a judge to declare that its QIAcuity technology used to quickly test municipal sewer systems across the U.S. for COVID-19 outbreaks doesn't infringe six Bio-Rad diagnostics patents.In a 14-page complaint, the Monheim am Rhein, Germany-based Qiagen Hamburg GmbH and its U.S. affiliate, Qiagen LLC, allege that Bio-Rad has wrongly accused its rapid COVID-19 testing system, called QIAcuity, of ripping off Bio-Rad patents.Qiagen's technology has been used in 48 states across the U.S. to test local municipal wastewater systems for the... | general |
Embedded security market to reach $ 9 billion by 2027 | The embedded security market size is projected to grow from $ 6.8 billion in 2022 to $ 9 billion by 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027, according to MarketsandMarkets.
The key factors contributing to the growth of the embedded security market include increasing use of IoT-based applications, payments functionality in wearables, increasing cyber threats. However, the cost associated with hardware security modules is hindering the growth of the embedded security market.
The impact of COVID-19 on the supply chain and the global chip shortage possesses a huge challenge to the industry. However, growing demand for embedded security in electric and semi-autonomous vehicles is the biggest opportunity in the market space with APAC having the highest market share and the highest CAGR for the forecast period.
The market for wearables is growing at the highest CAGR of 5.9% during the forecast period. For effective communication, wearable technology is increasingly being integrated with management systems such as CRM and facial recognition.
Furthermore, businesses in the manufacturing industry are using AR and VR technology in training domains such as knowledge transfer for front-line workers, which is propelling the industrial wearables market forward. Apart from that, the market is driven by automation in manufacturing facilities and improvements in technologies such as IoT, AI, and the cloud. Investments in automation, the launch of new and innovative products, and the rise of wearable devices are providing a boost to the market
The market based on geography has been segmented into 4 main regions: North America, Europe, APAC, and RoW. APAC is projected to grow at the highest CAGR of 7.0% during the forecast period. APAC includes emerging countries such as China, Australia, South Korea, and Hong Kong. The increasing cyber-attacks and adoption of remote working are driving the growth of the market in the APAC region.
Payments are expected to hold 43.3% of the market share by 2027. Payments security type provides secure transaction of data between merchants and users. Payments security provides secure transmission through tokenization, encryption, fraud detection, and prevention.
In the year 2020, the global transaction value of digital payments was approximately 5 trillion dollars. The advancements in technology and increasing use of payments are expected to boost the market during the forecast period.
The software security market is expected to hold the largest market share by 2027. Software security secures any software from malicious attacks preventing the virus to reach its intended targets. Companies are using software security to protect their devices from cyber attacks. The growing cyberattacks are expected to boost the market during the forecast period.
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Researchers identified over 5,500 new viruses in the ocean, including a missing link in viral evolution | The Research Brief is a short take about interesting academic work.
An analysis of the genetic material in the ocean has identified thousands of previously unknown RNA viruses and doubled the number of phyla, or biological groups, of viruses thought to exist, according to a new study our team of researchers has published in the journal Science.
RNA viruses are best known for the diseases they cause in people, ranging from the common cold to COVID-19. They also infect plants and animals important to people.
These viruses carry their genetic information in RNA, rather than DNA. RNA viruses evolve at much quicker rates than DNA viruses do. While scientists have cataloged hundreds of thousands of DNA viruses in their natural ecosystems, RNA viruses have been relatively unstudied.
Unlike humans and other organisms composed of cells, however, viruses lack unique short stretches of DNA that could act as what researchers call a genetic bar code. Without this bar code, trying to distinguish different species of virus in the wild can be challenging.
To get around this limitation, we decided to identify the gene that codes for a particular protein that allows a virus to replicate its genetic material. It is the only protein that all RNA viruses share, because it plays an essential role in how they propagate themselves. Each RNA virus, however, has small differences in the gene that codes for the protein that can help distinguish one type of virus from another.
So we screened a global database of RNA sequences from plankton collected during the four-year Tara Oceans expeditions global research project. Plankton are any aquatic organisms that are too small to swim against the current. They’ re a vital part of ocean food webs and are common hosts for RNA viruses. Our screening ultimately identified over 44,000 genes that code for the virus protein.
Our next challenge, then, was to determine the evolutionary connections between these genes. The more similar two genes were, the more likely viruses with those genes were closely related. Because these sequences had evolved so long ago ( possibly predating the first cell), the genetic signposts indicating where new viruses may have split off from a common ancestor had been lost to time. A form of artificial intelligence called machine learning, however, allowed us to systematically organize these sequences and detect differences more objectively than if the task were done manually.
We identified a total of 5,504 new marine RNA viruses and doubled the number of known RNA virus phyla from five to 10. Mapping these new sequences geographically revealed that two of the new phyla were particularly abundant across vast oceanic regions, with regional preferences in either temperate and tropical waters ( the Taraviricota, named after the Tara Oceans expeditions) or the Arctic Ocean ( the Arctiviricota).
We believe that Taraviricota might be the missing link in the evolution of RNA viruses that researchers have long sought, connecting two different known branches of RNA viruses that diverged in how they replicate.
These new sequences help scientists better understand not only the evolutionary history of RNA viruses but also the evolution of early life on Earth.
As the COVID-19 pandemic has shown, RNA viruses can cause deadly diseases. But RNA viruses also play a vital role in ecosystems because they can infect a wide array of organisms, including microbes that influence environments and food webs at the chemical level.
Mapping out where in the world these RNA viruses live can help clarify how they affect the organisms driving many of the ecological processes that run our planet. Our study also provides improved tools that can help researchers catalog new viruses as genetic databases grow.
Despite identifying so many new RNA viruses, it remains challenging to pinpoint what organisms they infect. Researchers are also currently limited to mostly fragments of incomplete RNA virus genomes, partly because of their genetic complexity and technological limitations.
Our next steps would be to figure out what kinds of genes might be missing and how they changed over time. Uncovering these genes could help scientists better understand how these viruses work. | business |
Lawmakers Seek To Extend Opportunity Zone Program | A bipartisan group of congressional lawmakers introduced legislation Thursday that would, among other things, extend the opportunity zone program by two years.The Opportunity Zones Transparency, Extension and Improvement Act, introduced by Sens. Cory Booker, D-N.J., and Tim Scott, R-S.C., among others, would extend the program's deferral period through 2028.Extending the program `` will help investors and communities fully use the tool as Congress intended — which is especially important now with the economy in recovery from the impacts of the COVID-19 pandemic, '' according to a statement from the lawmakers.The opportunity zone program allows investors who sell assets and reinvest those... | general |
Macron's 2022 French election bid questioned over McKinsey hires — Quartz | As the French government was preparing to roll out its coronavirus vaccine campaign in December 2020, it hired US-based consulting firm McKinsey to advise on logistics.
But despite the fact France paid €4 million to McKinsey, and an additional €7 million to other private consulting firms, its vaccine campaign initially lagged behind the rest of Europe.
The government’ s reliance on consultants has now become a liability for president Emmanuel Macron, who is seeking re-election this year, in a scandal being dubbed “ l’ affaire McKinsey. ” Just four days before voters head to the polls for the first presidential election round on April 10, France’ s financial prosecutor, an arm of the justice ministry, said it opened a preliminary investigation into the role of private consulting firms used by the state.
A Senate report ( pdf, French) published last month found the government spent nearly €894 million ( about $ 976 million) on consultants last year, more than double than Macron’ s first year in office in 2018.
McKinsey received more money from the government than any other consulting firm during the pandemic, bringing in more than €12 million. The report estimated one private consultant costs the French state €1,500 per day.
While the hiring of private consultants by governments is nothing new ( the UK also spent millions on consultants for its pandemic response), the Senate report also alleged that McKinsey has skirted paying corporate taxes in France for at least a decade.
The French unit of McKinsey has previously said it paid “ over €422 million in French taxes and social-security contributions ” between 2011 and 2020. In an April 6 statement the firm said it will continue to respond to questions from French authorities, and that it respects French fiscal and social rules. France’ s economy minister Bruno Le Maire promised today ( April 7) that McKinsey will pay all the taxes it owes to the government, while Macron commended the justice ministry for opening a fraud investigation.
“ When a company makes money in a country, they must pay taxes, ” Macron told the French broadcaster TF1. The president reiterated his support for new global rules on minimum taxation, which he has argued would help keep firms like McKinsey on the hook for the earnings they reap abroad. He has denied any impropriety in the way his cabinet handled the consulting contracts.
While many consulting firms suffered revenue losses and layoffs at the start of the pandemic, covid-19 turned out to be a boon for some, particularly McKinsey.
In the first four months after covid-19 began the firm secured $ 100 million worth of contracts with US state, city, and federal agencies, according to ProPublica. | tech |
Building Information Modeling ( BIM) Extraction Software | April 07, 2022 12:45 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, April 07, 2022 ( GLOBE NEWSWIRE) -- According to Fact.MR- a market research and competitive intelligence provider- The U.S will remain the most opportunistic market, generating a US $ 35.3 Million $ opportunity through 2032.
The building information modeling ( BIM) extraction software industry reached US $ 140.9 Million in FY2021, and is likely to register a Y-o-Y increase of over 10% in 2022, expected to be valued at US $ 155.1 Million. During the 2022-2032 period of assessment, the market is forecast to grow at a 9.5% value CAGR, reaching US $ 384.3 Million.
Building information modelling extraction software provides improved customer/client relationships, reduced costs, improved profitability, and better time management. For instance, for evaluation of costs, architects can use tools such as BIM 360 documents related to material shipping, materials, and labor, including payroll-based construction timelines. Thus, building information modeling solutions have a high impact on the AEC industry.
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By deploying BIM extraction software, engineers and architects are able to implement a robust project lifecycle management model. This renders the construction not only safe, but also proves to be highly inexpensive. Like any other industry, the construction sector too is experiencing increased adoption of major technological advancements- from 3D printing to cloud based software deployment.
By software type, Fact.MR, expects on-premise BIM extraction software to experience a CAGR of 8% from 2022 to 2032. Given the fact that the global construction industry is heavily regulated, major companies are restricting data access for their employees within the corporation premises. This is done to ensure data security and avoid possible breaches.
According to Fact.MR’ s analysis, the houses & apartments segment is poised to experience maximum BIM extraction software uptake. A CAGR worth 8.8% has been projected throughout the 2022-2032 period of assessment. Growing urbanization across key countries is primarily driving market growth.
The COVID-19 pandemic is anticipated to create revenue opportunities for companies in the building information modelling ( BIM) extraction software market, owing to the need for smart hospital management. Supporting the architectural design process with knowledge engineering methods is an efficient goal-oriented approach for future building & construction projects. This is necessary for assessing the risk of infection in enclosed spaces.
To learn more about Sales of BIM Extraction Software for Rail Transport & Aviation, you can get in touch with our Analyst at https: //www.factmr.com/connectus/sample? flag=AE & rep id=7207
Key providers of BIM Extraction Software Market Trends are focusing on the development of cost-effective and compact solutions to attract more customers. Additionally, players are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach.
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Impact of COVID-19 on the Cable Conduit Systems Industry - Due to the shutdown of manufacturing plants, Asian and European countries under lockdown have lost a significant amount of business and money. The outbreak of the COVID-19 disease has had a significant impact on production and manufacturing operations, which has hindered the growth of the cable conduit systems and reduced the demand for cable conduit systems.
What are the Limitations for the Growth of Carbon Footprint Management Market Players? - “ Growing economies and strong monopolies are in an altercation and argument over carbon caps and compliances. Also, countries lacking investments for sustainable carbon management is the major challenge that the market faces. ”
Network Video Recorder ( NVR) Market Outlook ( 2022-2032) - The global network video recorder ( NVR) market was valued at around US $ 2.9 Bn in 2021, registering Y-o-Y growth of 12%. Projections are that, sales of network video recorders will increase rapidly at 11.3% CAGR to jump to a market valuation of US $ 11.2 Bn by 2032-end.
Key Drivers Stimulating Auto Dialer Software Industry Expansion - Companies are moving away from relying on in-house call center teams to hiring professional telemarketing and telecommunications service providers. This helps industries maintain revenue and profit margins as it significantly enhances research capabilities and eventually improves productivity.
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Covid’ s Next Big Wave Worries FDA Advisers Mapping Vaccine Plans | The information you requested is not available at this time, please check back again soon.
( Bloomberg) -- Health officials should be developing a consistent standard for Covid-19 vaccines as they prepare for the rapid emergence of new variants, U.S. Food and Drug Administration advisers said.
Chances are roughly 20% that there will be another “ omicron-like ” event in the next 12 months, according to research reviewed Wednesday by the FDA and its advisory panel on vaccines. A key portion of the spike protein that coronavirus uses to enter cells is changing at least twice as fast as one common influenza strain, which requires new types of shots every year because of mutations.
Many of the FDA advisers agreed that the agency needs to come up with a single standard for updating Covid-19 shots to prevent a confusing situation where vaccine manufacturers come out with different updates. Several panel members also said that a multiple-strain vaccine makes the most sense for the next iteration of the Covid shot, given the great uncertainties about future viral evolution.
“ I feel like at some level, the companies kind of dictate the conversation, ” said Paul Offit, a panel member from the Children’ s Hospital of Philadelphia. “ It shouldn’ t come from them. It really has to come from us. ”
A likely scenario is that the virus continues to evolve from the current BA.2 subvariant, leading to less dramatic seasonal waves.
BA.2 itself could still cause a surge in cases, White House medical adviser Anthony Fauci said in an interview with Bloomberg Television. Cold fall and winter weather may also contribute to a late-year wave, according to Fauci, who said he hopes that background immunity in the U.S. population will keep Covid hospitalizations low.
In the U.S., booster doses are becoming an increasingly relied-upon tool in the fight against Covid, especially as states and companies cut back on precautions such as masking and working from home. The rate of severe illness among people who received a fourth dose of Pfizer’ s vaccine was about three times lower than those who got only three, according to an Israeli study published in the New England Journal of Medicine. The study of data from around 1.2 million people 60 and older also found that people who received three doses reported twice as many infections as those with additional boosters.
However, the extra shots haven’ t been embraced everywhere. European public-health authorities said a fourth dose of Covid-19 vaccine should be kept to adults age 80 and older for now, saying there’ s no clear evidence to support an immediate booster for younger people. They didn’ t rule out a fourth dose in the future for healthy people ages 60 to 79.
“ The current situation where we are feeling compelled to boost every four months potentially is not sustainable, ” said panel member Mark Sawyer, a professor of pediatric infectious disease from the University of California in San Diego.
Additional shots hold high stakes for both Moderna Inc. and the vaccine partnership of Pfizer Inc. and BioNTech SE. The companies are working on omicron-specific boosters as well as shots that combine existing vaccines with the variant-specific formulation. If Covid shots end up being revised annually -- like seasonal flu shots -- that could lead to billions of dollars of additional sales for the drugmakers.
Before the meeting the FDA laid out proposed plans for making vaccine changes. The agency would routinely review the epidemiology of currently circulating variants in the U.S. and consult with advisers while working closely with drug manufacturers and public health agencies to provide clinical data. Any recommendations from the World Health Organization would also be discussed by the FDA and its advisers, according to the proposal.
The agency isn’ t obligated to follow the advisory panel’ s recommendations, though it typically does. | general |
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