Categories
World News

Societe Common earnings this autumn 2020

LONDON – Societe Generale exceeded analyst expectations on Wednesday with a “significant improvement” in business in the second half of 2020 despite the coronavirus pandemic.

The French bank posted a net profit of 470 million euros in the fourth quarter. Analysts were expecting a net profit of 252 million euros for the quarter and a loss of 822 million euros for the year. The French lender ended 2020 with a net loss of € 258 million.

“The good news is that we have stabilized income from capital market activities at € 1 billion. Overall, the second main reason is the quality of the loan portfolio, which has not deteriorated,” said Frédéric Oudéa, head of the group’s executive officer, told CNBC on Wednesday.

He added that “the third aspect is the very high CET 1 ratio that allows us to effectively resume the dividend with a lot of convenience.”

Further highlights for the last quarter of 2020:

  • Sales amounted to 5.8 billion euros, a decrease of 6% compared to the previous year.
  • Operating expenses decreased 3.4% compared to the fourth quarter of 2019.
  • The CET 1 rate, a measure of the solvency of banks, was 13.4% compared to 12.7% in the previous year.

Oudéa said in a statement that “the fourth quarter results provide further confirmation of the recovery in our businesses seen in the third quarter after a start to the year marked by the effects of the Covid crisis.”

The lender posted a € 1.26 billion loss in the second quarter as Europe struggled with the first wave of coronavirus. However, Societe Generale returned to profit in the following two quarters.

Drop in client activity

Despite expectations in the fourth quarter, Societe Generale recorded a decline in customer activity in the bond and currency business. This contributed to a 94.1% annual decline in net income in Global Banking and Investor Solutions.

Speaking to CNBC, Oudéa said: “We are back in this general transition. The start of the year is very encouraging and I expect revenues to return to normal in the coming months.”

The French bank set up loan loss provisions of EUR 367 million in the fourth quarter.

Going forward, Oudéa said we continue to expect “continued economic recovery” as the rollout of the Covid-19 vaccine continues, and he hopes 2021 will be a year of recovery.

Dividend and share buyback

The French bank has announced that it will distribute a cash dividend of EUR 0.55 per share in accordance with European regulations. The European Central Bank has asked lenders to be cautious with dividend distributions and share buybacks at least until September in light of the ongoing economic crisis.

In this context, Societe Generale announced that it would buy shares worth around 470 million euros in the fourth quarter of 2021, provided that the ECB’s recommendation is not extended.

The French bank has also announced that its risk costs will decrease in 2021.

The stock is down over 43% in the past 12 months.

Categories
Health

Widespread Covid vaccines will likely be accessible within the spring, says Walgreens exec

Walgreens pharmacist Jessica Sahni is preparing a Pfizer Covid-19 vaccine at The New Jewish Home long-term care facility on Manhattan’s Upper West Side in New York on December 21, 2020.

Bryan R. Smith | AFP | Getty Images

Covid vaccines are still hard to come by, but that should change by spring, said Rick Gates, senior vice president of pharmacy and healthcare at Walgreens.

“I would say the end of March and the beginning of April will be the schedule for you to have more general use of it in all of our branches across the country of pharmacies and other places where you can start vaccinations,” he said Tuesday at CNBC’s “Healthy Return” virtual event.

Walgreens is part of a federal pharmacy program that is delivering cans direct to drug stores this week. The pharmacy chain plans to start vaccinations in some of its stores in 15 states, as well as Chicago and New York City, on Friday. However, all of these pharmacies will have limited supplies and vaccines will only be available to Americans who are high priority due to factors like age or health.

On Tuesday, the Biden government announced it would also begin shipping vaccines to community health centers next week – part of their strategy to reach out to black and low-income families who may or may not have a grocery or drug store nearby other barriers have access, such as a lack of transportation.

Around 43.2 million doses of the Covid-19 vaccine were administered across the country on Tuesday morning, according to the Centers for Disease Control and Prevention. Only 9.8 million people received two doses of the shot. Both vaccines currently under emergency approval from the Food and Drug Administration – Pfizer BioNTech and Moderna vaccines – require two doses.

Gates said he was confident that a vaccine developed by Johnson & Johnson could increase supply. The drug company filed for emergency approval with the FDA last week after data was released showing its vaccine was about 66% effective against the virus. It’s a one-shot vaccine and can be stored in the refrigerator for months.

“It’s just good news for all of us that there will be more vaccines,” he said.

Categories
Business

Lengthy-haul Covid signs ought to be a ‘wake-up name’ for younger folks, Texas Youngsters’s physician says

Around 10 to 30% of all Covid patients suffer from long-distance symptoms. Sinais Center for Aftercare. These numbers should be a “wake up call” for young people and motivate them to avoid infection, said Dr. Peter Hotez of Texas Children’s Hospital on CNBC’s “The News with Shepard Smith”.

Patients with post-acute Covid syndrome typically suffer from severe fatigue, shortness of breath, digestive problems, “brain fog” and a racing heart. Some may even develop type 1 diabetes after contracting Covid, said Dr. Hotez. Endocrinologists are still trying to understand exactly why this is happening.

Another question that researchers still cannot answer is whether long-distance symptoms will remain in Covid patients for the rest of their lives. Millions of Americans are already infected, according to Hotez, and those who experienced mild symptoms and were able to stay home to recover are most likely to have problems with post-acute Covid syndrome later, according to later research.

Of all the lingering effects of Covid, Hotez said to Smith, “The ones that worry me most are the cognitive deficits. We call it ‘brain fog’ which makes it sound like it’s not that serious, but it is. You know people have it. ” terrible difficulty concentrating and that’s why it was so devastating because it’s difficult for people to get back to work. “

The post-acute Covid syndrome will have a significant impact on the economy and the health system, said Hotez. Covid has a “severe psychiatric burden”, even for people who were not infected. They can suffer from “post-traumatic stress” from losing a loved one, earning a living, or simply dealing with pandemic living conditions.

“As horrific as the deaths are and as heartbreaking as the deaths, this will be just one of many pieces of Covid-19 that will be with us. It’s also a wake-up call for young people,” Hotez said.

Categories
Entertainment

‘Eurovision Music Contest’ and ‘Borat’ Advance to the Oscar Shortlist

“Borat Subsequent Moviefilm” and “Eurovision Song Contest: The Story of Fire Saga” got one step closer to Oscar nomination on Tuesday when the Academy of the Arts and Sciences for Feature Films announced their shortlists in nine categories.

“Wuhan Flu” from the sequel to “Borat” and “Husavik” from the Will Ferrell comedy about European competition were developed along with 13 other pieces in the original song category. 92 songs, including “Just Sing” from “Trolls World Tour”, didn’t make the cut.

Members of the various branches will vote on the final five candidates from March 5-9. Oscar nominations will be announced on March 15th.

In the documentary category, 238 controversial films were reduced to 15. Favorites that are still in the mix include Netflix’s “Dick Johnson Is Dead”, “Crip Camp” and “My Octopus Teacher”. Also controversial are Amazon’s “All In: The Fight for Democracy” and “MLK / FBI”. Neither Netflix’s popular “The Social Dilemma” nor Bryan Febel’s “The Dissident” about the murder of Jamal Khashoggi were on the list.

In the international feature film category, 93 countries have submitted the most films, but only 15 are left. Denmark’s “Another Round” was an early favorite and was put on a shortlist. Director Thomas Vinterberg’s film shows Mads Mikkelsen as a high school teacher in the midst of a midlife crisis. Also popular is the “Charlatan” submitted by the Czech Republic by the Polish director Agnieszka Holland.

Voters from all branches of the academy are eligible to vote on the international feature category, but must meet a minimum viewing requirement to do so. The group selected films from around the world, including Ivory Coast (“Night of the Kings”), Guatemala (“La Llorona”) and Tunisia (“The Man Who Sells His Skin”).

The Academy also published shortlists for the short film categories, hair and makeup, visual effects, and original score. For these competitors, go to oscars.org. Here are the shortlists for original songs, documentaries, and international features.

“Turntables” (from “All In: The Struggle for Democracy”)

“See what you did” (“Belly of the Beast”)

“Wuhan Flu” (“Borat Subsequent Movie Film”)

“Husavik” (“Eurovision Song Contest: The Story of Fire Saga”)

“Never Break” (“give a vote”)

“Make It Work” (“Jingle Jangle: A Christmas Journey”)

“Fight for you” (“Judas and the Black Messiah”)

“Lo Sì (seen)” (“Life ahead”)

“Rain Song” (“Minari”)

“Show me your soul” (“Mr. Soul!”)

“Loyal Brave True” (“Mulan”)

“Free” (“The only Ivan”)

“Speak Now” (“One Night in Miami”)

“Green” (“Sound of Metal”)

“Hear my voice” (“The Trial of Chicago 7”)

“All In: The Fight for Democracy”

“Boys State”

“Collective”

“Crip Camp”

“Dick Johnson is dead”

“Gunda”

“MLK / FBI”

“The Mole Agent”

“My Octopus Teacher”

“Night”

“The painter and the thief”

“76 days”

“Time”

“The Truffle Hunters”

“Welcome to Chechnya”

Bosnia and Herzegovina, “Quo Vadis, Aida?”

Chile, “The Mole Agent”

Czech Republic, “Charlatan”

Denmark, “another round”

France, “Two of Us”

Guatemala, “La Llorona”

Hong Kong, “Better Days”

Iran, “sun children”

Ivory Coast, “Night of the Kings”

Mexico, “I’m not here anymore”

Norway, “hope”

Romania, “collective”

Russia, “Dear Comrades!”

Taiwan, “One Sun”

Tunisia, “The Man Who Sells His Skin”

Categories
Politics

5 Takeaways From Day One among Trump’s Second Impeachment Trial

The second impeachment trial of former President Donald J. Trump began on Tuesday, 370 days after he was acquitted of high crimes and offenses in his first trial. He is accused of “instigating a riot” for sparking violence in the US Capitol on January 6th. The House impeachment managers and Mr Trump’s defense team argued over whether the Constitution would allow the Senate to hold a trial against a former president and ultimately decided he could move forward.

Here are some takeaways from day one.

In a 56-44 vote, the Senate dismissed Mr Trump’s defense team’s argument and decided, largely partisan, that he had the authority to bring an accused former president to justice. This paved the way for Wednesday’s trial.

Impeachment executives, led by Representative Jamie Raskin of Maryland, argued that the rejection of this impeachment trial would constitute a “January exception” that would set the precedent for a Lame Duck president to act inconsistently in the final weeks of his tenure .

The defense team called the prosecutor’s case a “quick impeachment” and argued that a former president does not need to stand trial because it would set the precedent for punishing a former official after leaving office at the whim of the party in power.

Only a simple majority was required on the question of jurisdiction, in contrast to the two-thirds majority required for a conviction. Six Republicans, along with all 50 Democrats, decided that the Senate could continue the process.

In a 13-minute video of scenes from the January 6 attack on the Capitol, the House’s chief impeachment manager, Mr. Raskin, showed a graphical visual record of the attack, including the explicit language of the rioters and riot shouts, as well as clips from Mr. Trumps Comments during the day – like his speech to followers before some of them stormed the Capitol and a Twitter post hours after the attacks, in which he wrote, “Remember that day forever.”

The Trump impeachment ›

What you need to know

    • A court case will determine whether former President Donald J. Trump is guilty of instigating a deadly crowd of his supporters when they stormed the Capitol on January 6, violently violated security measures, and went into hiding when they met to certify President Biden’s victory.
    • Parliament voted 232 votes to 197 in favor of a single impeachment trial, accusing Mr. Trump of “inciting violence against the United States government” in order to dismiss the election results. Ten Republicans voted against him alongside the Democrats.
    • To convict Mr. Trump, the Senate would need a two-thirds majority to approve. This means that at least 17 Republican senators would have to vote with Senate Democrats to convict.
    • A conviction seems unlikely. Last month, only five Senate Republicans sided with the Democrats in repelling a Republican attempt to dismiss the charges because Mr Trump is no longer in office. On the eve of the start of the trial, only 28 senators say they are not sure whether to convict Mr Trump.
    • If the Senate convicts Mr. Trump and finds him guilty of “inciting violence against the United States government,” the Senators could vote on whether to expel him from office. This vote would only require a simple majority, and when it came to party lines, the Democrats would prevail if Vice President Kamala Harris casts the casting vote.
    • If the Senate doesn’t condemn Mr Trump, the former president could run for office again. Public opinion polls show he remains by far the most popular national figure in the Republican Party.

The scenes of chaos in the video showed a crowd of protesters forcibly pushing past security barricades and police lines. Shots from inside the building included an officer screaming as he was knocked down by a door and another officer shot killing one of the rioters, Ashli ​​Babbitt.

For many of the Senators on Tuesday, the footage provided different angles than what they saw firsthand when they were brought out of the same Senate Chamber in shock and fear.

“They are asking what a great crime and misdemeanor our constitution is,” Raskin told the senators at the end of the video. “This is a high crime and misdemeanor. If that is not a criminal offense, there is no such thing. “

One of Mr. Trump’s defense lawyers, David I. Schoen, accused the property managers of hiring a “film company” to put together the most disturbing footage of the day. Mr Schön also offered a video account with a collection of calls by Democrats to impeach Mr Trump over the past four years, a false equivalency as none of these comments resulted in violence.

While this is a new Senate – with Democrats in the majority – and the way Mr Trump is accused is different from the allegations he faced in his first impeachment trial, there is no question that Mr Trump will ultimately is acquitted, just like a year ago.

It would take the Democrats 17 Republicans to break with and vote with the former president to have the two-thirds necessary to convict Mr Trump. If the six Republican senators who voted with Democrats Tuesday on the Senate’s right to hold the trial also voted to convict Mr. Trump, it would take Democrats 11 more Republican defectors to get a conviction.

For Democrats, a guilty verdict would be a formal, permanent waiver of Mr. Trump’s behavior. Should Mr Trump be convicted, the Senate could vote to decide whether to run again for office – something the Democrats have argued is in the best interests of the country.

An acquittal would allow Republicans to postpone the conviction of their party’s most popular member. But it would only delay the inevitable reckoning of their party faces between the moderate members and the far right wing, which not only defends Mr Trump but seeks to punish other Republicans for betraying him.

For the Democrats, an acquittal could still be some sort of political victory, as the trial was an opportunity to publicly condemn Mr Trump’s actions in his final days as president and provide a formal record of the Republican senators who refused to accept him to punish.

Senator Mike Lee, Republican of Utah, has already been criticized for proposing that Mr. Trump be given a passport for the January 6th events.

“Look, everyone makes mistakes, everyone is entitled to a mulligan every now and then,” Lee said on Fox News after the property managers argued, using a golf term for a do-over.

As the longest-serving Democrat in the Senate, 80-year-old Leahy is the chairman of the Senate trial against Mr Trump.

Last year, Chief Justice John G. Roberts Jr. held that role, an appointment set out in the Constitution. This time, however, Chief Justice Roberts was not interested in the job. And because the constitution does not provide who should oversee the trial of a former president, it fell to Mr Leahy and gave him the power to rule on key issues such as admissible evidence.

On January 6th, Mr. Leahy was among the lawmakers who had to move away from the violent crowd, making him one of the hundreds of witnesses who were at the Capitol that day. And as one of 100 Senators, he will also vote on whether to convict Mr Trump of inciting violence against the United States.

Mr Leahy’s three hats were a reminder, among other things, that while these trials in the Senate are referred to as trials, they are not comparable to those in courtrooms across the country.

Mr Trump’s defense team unsuccessfully argued that Mr Leahy’s conflict of interest is one reason the trial is unconstitutional.

Bruce L. Castor Jr., the attorney who began the Trump defense team’s arguments Tuesday, led Senators down a tortuous path of generalizations about the Senate, Mr. Trump’s right to freedom of expression, and the difference between murder and manslaughter in criminal justice.

“I have no idea what he’s doing,” said Alan M. Dershowitz, who served on Mr. Trump’s defense team during his first impeachment last year, on conservative television station Newsmax. “Maybe he’ll bring it home, but at the moment it doesn’t seem like an effective advocacy.”

While Mr. Castor was speaking, other senators looked restless and began to talk to each other.

“The president’s attorney kept moving,” Republican Senator John Cornyn told reporters after the trial ended. “I’ve seen a lot of lawyers and a lot of arguments and that wasn’t the best I’ve ever seen.”

Mr Schön, another of Mr Trump’s attorneys, seemed to regain attention in the room when he argued that the Constitution does not allow the impeachment of a former president.

“This process will tear this country apart, perhaps as we have seen it only once in our history,” said Mr Schön, an obvious reference to the civil war. “For political reasons,” he added, “it is wrong, how wrong it can be for all of us as a nation.”

Glenn Thrush contributed to the coverage.

Categories
Business

The writer of League of Legends is investigating its C.E.O. after sexual harassment claims.

Riot Games, the video game publisher that produced the popular League of Legends, said Tuesday it is investigating allegations of sexual harassment and gender discrimination against its executive director Nicolo Laurent.

Mr. Laurent and Mr. Riot were sued in the Los Angeles Supreme Court in January by Sharon O’Donnell, a former executive assistant to Mr. Laurent. In court documents, Ms. O’Donnell said Mr. Laurent made repeated sexually stimulating remarks about her, asked her to work in his house when his wife was away, and told women who worked for Riot how to cope with stress bypasses The coronavirus pandemic was “having children”.

“Riot Games is a male-dominated culture,” the lawsuit said. Women workers like Ms. O’Donnell were “discriminated against, harassed and treated as second-class citizens,” it said.

When she denied Mr. Laurent’s advances, Ms. O’Donnell said in the lawsuit that he yelled at her, became hostile, removed some of her responsibilities, and finally fired her in July.

Ms. O’Donnell “believes this was because she refused to have sex or an affair with the defendant,” according to the lawsuit, which Daily Esports first reported Tuesday.

Riot denied Ms. O’Donnell’s allegation in a statement, saying she was “fired from the company over seven months ago due to several well-documented complaints from various people”.

According to Riot, an outside law firm was investigating Mr. Laurent and was overseen by a committee of the company’s board of directors. Riot said Mr. Laurent is cooperating with the investigation.

Riot, owned by the Chinese internet giant Tencent, has grown into one of the world’s most famous video game companies.

According to an estimate by research firm SuperData, the flagship League of Legends, released in 2009, had sales of more than $ 1.8 billion last year. And the series of professional competitions that Riot has built around the game has drawn tens of millions of fans, turning star gamers into esports celebrities that can make millions of dollars.

But Riot has also come under fire for its sexist, toxic workplace. In 2019, it was agreed to pay $ 10 million to the 1,000 women who had worked at the company since 2014 to settle a class action lawsuit for gender discrimination and unequal pay.

The California Department for Fair Employment and Housing, which has been investigating Riot since 2018, said last year the women could be eligible for up to $ 400 million, which Riot denied. Earlier this month it was said that court action would be taken to provide “class-wide relief” for the women who worked at Riot.

Categories
Health

Biden Pushes for Racial Fairness in Vaccination, however Information Lags

“Soon after we started this vaccination, I started asking for this data – I wanted it, we needed it, we tried to get it, and we found problems,” said Dr. Romero, who is also the chairman of the CDC Advisory Committee on Immunization Practices, said in an interview. He said several state epidemiologists were at work “to fill in the gaps by cross-referencing secondary sources.”

Updated

Apr. 9, 2021 at 10:21 AM ET

Just as the pandemic exposed racial differences in healthcare, it exposed differences in vaccination. Blacks and Latinos are far more likely to become infected than whites and die from Covid-19. And in cities across the country, including here in Washington, wealthy white residents line up to get vaccinated in low-income Latin American and black communities.

People in underserved neighborhoods face a variety of obstacles, experts say, including registration phone lines and websites that can take hours to navigate, and lack of transportation or a break from work to get to appointments. And people of color, especially blacks, are more reluctant to get vaccinated, given the history of unethical medical research in the United States.

The community health center program aims to fill this gap. It will be relatively small at first; The government is distributing a million doses to just 250 of the country’s so-called state-qualified health centers. There are nearly 1,400 centers operating 13,000 sites serving nearly 30 million patients – about one in 11 Americans, according to the Health Resources and Services Administration, which funds the program.

Overall, the rate of vaccination is increasing given the slow growth in supply, which remains a limiting factor. As of Tuesday, the CDC average of vaccine doses administered in the United States over seven days was approximately 1.49 million doses per day.

When Mr. Biden became president, the federal government was shipping 8.6 million doses of vaccine to states each week. That number is set to climb to 11 million – a 28 percent increase, Jeffrey D. Zients, Mr Biden’s coronavirus response coordinator, told reporters Tuesday. This corresponds to the expected increases in production.

The one million doses to the community clinics are provided in addition to supplies to the states. Separately, the White House announced last week that administration would begin shipping an additional million doses to 6,500 pharmacies on Thursday.

Categories
Business

Cisco (CSCO) earnings Q2 2021

Chuck Robbins, CEO of Cisco Technologies Inc., speaks during a panel discussion at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, January 17, 2017. World leaders, influential executives, bankers and policymakers attend the 47th annual meeting of the World Economic Forum in Davos from January 17th to 20th.

Jason Alden | Bloomberg | Getty Images

Cisco stock fell 6% in extended trading Tuesday after the company posted second-quarter earnings that featured ongoing issues in its top-tier product segment. However, the company’s results and quarterly projections exceeded analyst estimates.

This is how the company did it:

  • Merits: Adjusted for 79 cents per share compared to 76 cents per share, as analysts expected, Refinitiv said.
  • Revenue: According to Refinitiv, $ 11.96 billion versus $ 11.92 billion as analysts expected.

Cisco’s revenue declined slightly on a yearly basis for the quarter ended January 23, according to a statement. Sales declined for the fifth quarter in a row. The weaker economy has dampened the company’s growth prospects, as has the decision by some customers to use cloud services to keep employees working efficiently and staying away during the coronavirus pandemic.

In the company’s leading product segment, Infrastructure Platforms, which include sales of switches and routers for data center networks, Cisco had sales of $ 6.39 billion, down 3% year over year and above the consensus of Is $ 6.23 billion below analysts surveyed by FactSet.

“The corporate market remains weak, fueled by some extended sales cycles and a prolonged hiatus in spending from some customers caused by the pandemic,” Cisco CEO Chuck Robbins told analysts on a conference call. While switch revenue was flat, router and server revenue declined.

The application unit, including Webex’s video calling products, had sales of $ 1.35 billion, unchanged from last year and just below the FactSet consensus estimate of $ 1.40 billion. Webex had an average of 600 million users in the quarter, according to Robbins.

“I think you will actually see us next year – this portfolio will keep improving and I think we have a chance to buy back stocks,” said Robbins. Webex competes with Google, Microsoft and Zoom, among others.

Robbins pointed to the dynamism of web-scale customers running large data centers. About a quarter of Cisco’s sales to service providers for the quarter came from web-scale customers.

During the quarter, Cisco increased its bid to purchase network hardware company Acacia Communications from $ 2.6 billion to $ 4.5 billion. The company also announced that it plans to acquire cloud communications software maker IMImobile for $ 730 million and is rolling out third-party tool integration for Webex.

In relation to the forecasts, Cisco expects adjusted earnings per share of 80 to 82 cents with revenue growth of 3.5 to 5% in the third fiscal quarter. Analysts polled by Refinitiv had expected adjusted earnings per share of 81 cents and revenue of $ 12.35 billion, which would represent a 3% increase in revenue. The quarter includes an additional week.

Cisco has concerns about its supply chain, reflecting greater concerns about chip shortages, said Scott Herren, the company’s chief financial officer.

“At this point we will get in touch with all important suppliers,” said Herren. “We’re taking advantage of the type of bulk buying we have and are continuing to expand this supply chain to make sure we can protect customer shipments. Hence, there is little headwind on these lines from the current supply chain.” The company’s sales and gross margin forecast reflects supply chain fears, Herren said.

Excluding the after-hours move, Cisco stocks are up 9% year-to-date, while the S&P 500 index is up 4%.

Nominations are open to the 2021 CNBC Disruptor 50, a list of private startups that are leveraging breakthrough technology to become the next generation of large public companies. Send through Friday, February 12th at 3 p.m. ET.

CLOCK: Chuck Robbins, CEO of Cisco, ponders how to lead through difficult times

Categories
World News

Chirlane McCray, N.Y.C.’s first woman, will get a vaccine shot and says ‘there actually is nothing to be afraid of.’

New York first lady Chirlane McCray was given a Covid-19 vaccine at Kings County Hospital in Brooklyn Tuesday afternoon as New York health officials attempt to eradicate severe racial inequality in the introduction of the vaccine.

Ms. McCray, who is 66 years old, meets the state’s current age requirements that allow New Yorkers over 65 to receive the vaccine. Her husband, Mayor Bill de Blasio, who is 59 years old, does not.

So far, residents of Black and Latino have received far fewer doses of vaccine than residents of White, although color communities are hardest hit by the virus. The city’s demographics are incomplete, but the latest data available shows that of the nearly 375,000 city residents who received a vaccine dose and whose race was recorded, about 46 percent were white, 16 percent Latin American, 16 percent Asian, and 12 percent black.

Latino and Black residents were particularly underrepresented: the city’s population is 29 percent Latinos and 24 percent black.

The city health department has been working to encourage New Yorkers Black and Latino to get vaccinated in hopes of addressing vaccine hesitation, given the history of unethical medical research in the US. But Mr de Blasio said last week that he and his wife, who is black, would not receive the vaccine until they met state approval criteria, citing a desire to reassure New Yorkers that the process was fair and equitable .

“People need to see that people they know, trust and respect are getting the vaccine,” de Blasio said at a press conference. “You also need to know that priorities are respected and those who need them most get them first.”

After Ms. McCray received her shot, the Eligible New Yorker encouraged her to sign up for vaccine appointments – although access to those appointments, which are listed on dozen of different websites, was one of the barriers to the fair distribution of the vaccine.

“There’s really nothing to worry about,” Ms. McCray said of the vaccination. “We want to do this for our families, we want to do it for our loved ones, and of course we want to do it for our city.”

As of Tuesday, New York City had given more than a million doses of the vaccine. Mr de Blasio had hoped to give so many doses in January alone, but blamed a lack of supply for the slower pace.

Categories
Health

Tilray inventory rallies on pot distribution settlement with Develop Pharma

Tilray shares rose 38.8% on Tuesday after the company signed an agreement with Grow Pharma to import and distribute its medical cannabis products in the UK.

Under the contract, Tilray will be able to make these products available to UK patients on prescriptions obtained through the country’s National Health Service or a general practitioner. The company expects these products to be available in the UK next month.

“This partnership with Grow Pharma provides patients in need with access to sustainable supplies of GMP-certified, high-quality medical cannabis and is an important step towards improving access in the UK,” said Brendan Kennedy, CEO of Tilray, in a statement.

Pierre van Weperen, CEO of Grow Pharma, also noted that the agreement will provide British patients with “safe and sustainable supply of the highest quality medical cannabis products”.

This deal is Tilray’s latest move to expand its market share in the cannabis space. In December, Tilray announced it would merge with Aphria in an all-stock deal to create the world’s largest cannabis company when the deal is closed.

Tilray shares were on fire this year, rising nearly 400% as demand for cannabis products grows in the US and around the world.