Month: March 2021

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Business

Troops who decide out of Covid vaccine are ‘a part of the issue’

Troops who opt out of Covid vaccine are 'part of the problem'

A paratrooper assigned to the 82nd Airborne Division’s 1st Brigade Combat Team prepares for an airborne operation May 7 at Fort Bragg, NC.

Spc. Hubert Delany III | US Army

WASHINGTON – The White House Chief Medical Officer, Dr. Anthony Fauci said Thursday that U.S. service members who are eligible to receive the Covid-19 vaccine but opt ​​out are inadvertently “part of the problem” of the pandemic’s extension.

“You are part of the solution to this outbreak,” Fauci told a virtual audience during a town hall with Blue Star Families, a nonprofit that addresses issues facing military families.

“Because through an infection, although you may not know it, you may accidentally pass the infection on to someone else even though you have no symptoms,” said Fauci. “In reality, like it or not, you are spreading this outbreak. Instead of being part of the solution, you are innocent and inadvertently part of the problem by not getting vaccinated.”

“You have to think about your own health, which is really very important, but you have to think about your social responsibility, including people you are personally close to as well as other family members of other people,” said Fauci.

Last month, the Pentagon admitted that about a third of U.S. military service members refused to take the voluntary coronavirus vaccine.

U.S. Marine Corps Staff Sgt.Felicia White, a supervisor at Camp Kinser Post Office, has her arm disinfected to receive her second dose of the COVID-19 vaccine at U.S. Naval Hospital Okinawa on March 2, 2021 at Camp Foster.

U.S. Marine Corps Lance Cpl. Zachary Larsen | US Marine Corps

When asked if the military leadership was disappointed with the revelation, Pentagon spokesman John Kirby told reporters last month that the decision to take the vaccine is ultimately up to each member of the force.

“Everyone is different and we want – what the secretary wants – the men and women in the department to make the best and most informed decisions for them and for their health and the health of their families,” said Kirby, adding to Secretary of Defense Lloyd Austin got the vaccine.

Meanwhile, the U.S. Northern Military Command, responsible for the Pentagon’s coronavirus efforts, has hired thousands of service members to help vaccinate communities across the country.

Last week Austin began his first official trip since rising to the top of the Pentagon to meet with military commanders overseeing the Covid-19 response effort in California.

Austin also visited a FEMA vaccination center in Los Angeles, the first to be manned by both active military teams and National Guard personnel.

Active Duty Soldiers and the Army National Guard prepare to receive a sham vaccine recipient during an exercise at California State University in Los Angeles on February 14, 2021.

US Army Capt. Daniel Parker | US Army

Austin said the Pentagon was committed to relaying factual information to the armed forces in order to build trust.

“There is a certain amount of suspicion and I think we have to work hard together to dispel rumors and provide facts to people,” Austin told reporters who travel with him. “And my experience is that when people are armed with the facts, they tend to make the right decisions.”

“My advice to everyone is, I mean, this saves lives. And it’s not just about saving our lives, it’s about saving the life of our partner, the neighbor, and in the military we live from teamwork and we have to think You also to our teammates, “he added.

Categories
Business

China Units Financial Progress Goal of ‘Over 6 P.c’ This 12 months

China Sets Economic Growth Target of ‘Over 6 Percent’ This Year

BEIJING – A year after China was hit by the coronavirus, the government on Friday promised a robust return to economic growth of “over 6 percent,” a signal that China is ready to do whatever it takes to keep the world’s second largest economy going strong.

The commitment is a positive sign for the global economy. It suggests that Beijing is ready to free up money to keep the economy going rather than slowing down to cope with the ever-increasing debt. That means the Chinese economy will continue to buy much of what the world makes, including iron ore and computer chips.

China’s growth target is for the virus to have all but stopped within its borders and for the number of cases in countries like the US and India to have fallen sharply in recent weeks.

China’s goal for this year could easily be achieved. It is well below what many Western economists expect from the Chinese economy. They forecast around 8 percent growth as industrial goods exports continue to boom while the services sector recovers from a very poor performance last year.

China’s Prime Minister Li Keqiang announced the target when he presented a report on the work of the government to the legislature, the National People’s Congress, at the beginning of its weeklong annual meeting.

“As the coronavirus continues to spread around the world, instability and uncertainty in the international landscape increase and the global economy continues to face major challenges,” Li said.

“Domestically, there are still weak links in our work to control Covid-19,” he added. “The foundation for our country’s economic recovery needs to be further consolidated, the barriers to consumer spending remain and investment growth is unsustainable.”

The forecast shows that China expects a remarkable rebound after last year when the government abandoned setting an annual growth target for the first time in decades due to the uncertainties of the pandemic. Ultimately, China posted 2.3 percent growth in 2020, much slower than its usual 6 percent or more pace in recent years, but by far the best performance of any major economy.

However, China’s growth last year was even more unbalanced than usual. The country was actually losing ground in its goal of moving away from its reliance on exports and debt-driven infrastructure investments and relying more sustainably on domestic consumption. As in most countries during the pandemic, travel and leisure spending in China fell over the past year.

Mr. Li promised on Friday that he would intensify efforts to increase consumption. “By focusing on improving people’s wellbeing, we will increase demand and promote better matching between consumption and investment,” he said.

He promised to cut taxes on the smallest businesses, many of which are tiny businesses in towns and villages. However, infrastructure spending will continue very quickly. Mr. Li only announced a token cut – 2.7 percent – on the issue of special purpose bonds this year, which are mainly used to finance infrastructure projects and have almost tripled in the last two years.

While China has sought to stabilize ties with the United States, Mr. Li signaled that Beijing is taking a tougher line on Hong Kong and Taiwan – two potential hot spots with Washington.

“We will resolutely protect ourselves against and deter external interference in Hong Kong affairs,” said Li.

Congress stands ready to deepen China’s crackdown on Hong Kong, building on a national security law Beijing imposed on the city last year. This year delegates will approve a proposal that would drastically reduce democratic competition in local elections in the former British colony.

The Chinese government has also taken an increasingly tough line on Taiwan – the democratically ruled island that Beijing claims as its territory – and Mr. Li’s language appeared to be harsher than in previous labor reports. Taiwan’s current president, Tsai Ing-wen, has resisted Beijing’s demands to accept the mainland’s definition of island status.

“We will continue to be very vigilant and resolutely deter any separatist activity that seeks Taiwan independence,” said Li.

Categories
World News

Inventory futures dip after a steep sell-off on Wall Avenue amid surging bond yields

Stock futures dip after a steep sell-off on Wall Street amid surging bond yields

Stock futures fell overnight on Thursday after a tech-driven price on Wall Street amid a surge in bond yields.

The futures on the Dow Jones Industrial Average fell 41 points. S&P 500 futures and Nasdaq 100 futures also traded in negative territory. Previously, Dow futures were down 200 points.

All eyes will be on the February job report due to be released on Friday morning. Economists expect 210,000 people to be hired in February, compared with just 49,000 in January, according to Dow Jones.

The futures move followed a sharp sell-off triggered by comments from Federal Reserve Chairman Jerome Powell about rising bond yields. He said the recent attempt caught his attention but gave no indication of how the central bank would rein it. Some investors would have expected the Fed chairman to signal his willingness to adjust the Fed’s asset purchase program.

The economic reopening could “put some upward pressure on prices,” Powell said in a Wall Street Journal webinar Thursday. Even if the economy “sees a temporary spike in inflation … I assume we’ll be patient,” he added.

“The market translation of ‘patient’ is that patient does not mean ‘never’ and that Powell indicates that easy money will come to an end at some point,” said Mike Loewengart, managing director of investment strategy at E-Commerce Financial. “While the phrase isn’t too far removed from the Fed’s previous stance, it is enough to move a nervous market south.”

The yield on 10-year government bonds rose again above 1.5% after Powell’s comments. The key rate had stabilized earlier this week after rising to 1.6% last week on higher inflation expectations.

Tech stocks led the market decline as growth companies tend to be more vulnerable to higher interest rates. The Nasdaq Composite fell 2.1% on Thursday, bringing its losses to 3.6% this week. The tech-heavy benchmark also turned negative for the year, falling into correction territory or 10% from its recent high over the course of the day.

The S&P 500 and Dow both fell more than 1% on Thursday, heading for a lost week. With an increase in oil prices, the energy outperformed the previous session with an increase of 2.5%.

“Interest rates rose again, which opened the door to more technology stocks,” said Ryan Detrick, chief marketing strategist at LPL Financial. “The good side is that the economy continues to improve and the finance and energy leadership is suggesting this is not the time everything will be sold.”

Categories
Entertainment

Moufida Tlatli, Groundbreaker in Arab Movie, Dies at 78

Moufida Tlatli, Groundbreaker in Arab Film, Dies at 78

Moufida Tlatli, the Tunisian director whose film “The Silences of the Palace” was the first international hit for a filmmaker from the Arab world in 1994, died on February 7th in Tunis. She was 78 years old.

Her daughter Selima Chaffai said the cause was Covid-19.

“The Silences of the Palace”, which Ms. Tlatli co-directed and wrote with Nouri Bouzid, is set in the mid-1960s, but mainly consists of flashbacks to a decade before Tunisia gained independence from France.

The protagonist, a young woman named Alia (played by Hend Sabri), reflects the impotence of women in this earlier era, including her mother Khedija (Amel Hedhili), a servant in the palace of Tunisian princes. Alias ​​memories show that even in the more liberated milieu of her time she has not achieved real autonomy.

“Silences” won several international awards, including a special mention in the best debut feature category in Cannes, which makes Ms. Tlatli the first female Arab director to be honored by this film festival. It was shown at the New York Film Festival later that year. Caryn James of the New York Times called it “a fascinating and accomplished film” in her review.

In an interview, Hichem Ben Ammar, a Tunisian documentary filmmaker, said “Silences” was “the first Tunisian film to hit the American market”.

Its importance was particularly great for women in the generally patriarchal film industry of the Arab world, said Rasha Salti, programmer at Arab film festivals. Although “Silences” wasn’t the first full-length film made by an Arab woman, “it has a visibility that outshines the achievements of others,” she said.

Moufida Ben Slimane was born on August 4, 1942 in Sidi Bou Said, a suburb of Tunis. Her father Ahmed worked as a decorative painter and craftsman in the palaces of the Tunisian nobility. Her mother Mongia was a housewife. Moufida, one of six children, looked after her younger siblings. As a teenager, she spent nights at a local movie theater watching Indian and Egyptian dramas.

She grew up in a time of social reform under the Tunisian President Habib Bourguiba, an advocate for women’s rights. In high school, Moufida’s philosophy teacher introduced her to the work of Ingmar Bergman and other European directors. In the mid-1960s she received a scholarship to the Institute for Advanced Cinematographic Studies in Paris. After graduating, she lived in France until 1972 and worked as a script supervisor.

In Tunisia, Ms. Tlatli was admired as a film editor and worked on classics of Arab cinema such as “Omar Gatlato” and “Halfaouine”. “Silences” was her debut as a director.

The theme of silence in the film is dramatized by the servant Khedija’s refusal to reveal her father’s identity to Alia. Alia never solves this riddle, but she sees a brutal reality: how her mother had quietly suffered from sexual ties to the two princes of the palace.

Silence is a hallmark of palace culture. During music lessons in the garden and at ballroom parties, aristocrats hold small talk and servants say nothing. Discretion means meekness. The same discretion, however, also veils the palace’s sexual violence and muzzles its victims. Servants learn to communicate with one another through grimaces or looks.

“All women follow the tradition of taboo, of silence, but the power of their looks is extraordinary,” said Ms. Tlatli in an interview with the British magazine Sight & Sound in 1995. “You had to get used to expressing yourself through their eyes.”

Ms. Tlatli discovered that this “culture of the indirect” was ideally suited to the medium of film.

“That’s why the camera is so amazing,” she said. “It is in complete harmony with this rather suppressed language. A camera is a bit smart and hidden. It’s there and can capture small details about something you’re trying to say. “

After “Silences”, Ms. Tlatli directed “The Season of Men” (2000), which also follows women of different generations who grapple with deeply rooted social customs. Her last film was “Nadia and Sarra” (2004).

In 2011, Ms. Tlatli was briefly Minister of Culture in the transitional government that took over Tunisia after the overthrow of the dictator Zine el-Abidine Ben Ali. “She has respect not only as a filmmaker and film editor, but also because she was not co-opted by the system,” said Ms. Salti, the film programmer.

In addition to her daughter, Ms. Tlatli survives her husband Mohamed Tlatli, a businessman involved in oil and gas exploration. a son, Walid; and five grandchildren.

Ms. Tlatli was inspired to make her own film after giving birth to Walid and leaving him with her mother according to Tunisian tradition, even though her mother already looked after four of her own sons. Her mother had been a “quiet woman” for a long time, Ms. Tlatli told The Guardian in 2001, before developing Alzheimer’s disease and losing her voice.

Her mother’s life has become “unbearable, exhausting, suffocating”.

Ms. Tlatli spent seven years outside of the film raising her children and helping her mother. The experience made her feel that there were unexamined gaps between women of different generations, similar to the one she portrayed in “Silences” between mother and daughter.

“I wanted to speak to her and it was too late,” she said in 1995 of her mother. “I projected all of this onto my daughter and thought: Maybe she didn’t feel close to me. That gave me the urgency to do this film. “

Lilia Blaise contributed to reporting from Tunis.

Categories
Health

Ivermectin Does Not Alleviate Delicate Covid-19 Signs, Research Finds

Ivermectin Does Not Alleviate Mild Covid-19 Symptoms, Study Finds

Ivermectin, a controversial anti-parasitic drug that has been touted as a potential Covid-19 treatment, doesn’t speed recovery in people with mild illnesses. This is the result of a randomized controlled trial published in the journal JAMA on Thursday.

Ivermectin is typically used to treat parasitic worms in both humans and animals, but the scientific evidence of its effectiveness against the coronavirus is thin. Some studies have shown that the drug can prevent several different viruses from replicating in cells. And last year, researchers in Australia found that high doses of ivermectin suppressed SARS-CoV-2, the virus that causes Covid-19, in cell cultures.

Such findings had driven the use of the drug against Covid-19, especially in Latin America.

“Ivermectin is currently used extensively,” said Dr. Eduardo López-Medina, doctor and researcher at the Center for Pediatric Infectious Diseases in Cali, Colombia, who led the new study. “In many countries in the Americas and other parts of the world, this is part of national guidelines for treating Covid.”

But the drug has also been shown to be divisive. While some scientists see potential, others suspect that effective inhibition of the coronavirus may require extremely high, potentially unsafe doses. Health officials have also feared that people desperate for coronavirus treatments might be taking versions of the drug formulated for pets. (It’s often used to prevent heartworms in dogs.)

“There have been many conflicting views on these, sometimes extremely conflicting views,” said Dr. Carlos Chaccour, a researcher at the Barcelona Institute for Global Health who was not involved in the new study. “I think it’s become another hydroxychloroquine.”

Updated

March 4, 2021, 9:28 p.m. ET

But neither the proponents nor the critics had much rigorous data to support their views. There are few well-controlled studies on the drug’s effectiveness against Covid-19, although more are expected in the coming months. The National Institutes of Health treatment guidelines indicate that there is insufficient evidence to recommend “for or against” the use of the drug in Covid-19 patients.

In the new study, Dr. López-Medina and his colleagues happened to add more than 400 people who had recently developed mild Covid-19 symptoms to receive five-day treatment with ivermectin or a placebo. They found that Covid-19 symptoms lasted an average of about 10 days in people who received the drug, compared to 12 days in those who received the placebo, a statistically insignificant difference.

The new study adds much-needed clinical data to the debate over the drug’s use to treat Covid-19, said Dr. Regina Rabinovich, a global health researcher at the TH Chan School of Public Health at Harvard who was not involved in the study.

However, she noted that the study was relatively small and didn’t answer the most pressing clinical question of whether ivermectin can prevent serious illness or death. “Duration of symptoms may not be the most important clinical or health parameter,” she said.

The researchers found that seven patients in the placebo group got worse after entering the study compared to four in the ivermectin group, but the numbers were too small to draw any meaningful conclusion.

“There was a little signal there and it would be interesting to see whether or not this signal we saw is real,” said Dr. López Medina. “But that would have to be answered in a larger process.”

Dr. López-Medina also pointed out that the study population was relatively young and healthy, with an average age of 37 and few underlying diseases that can make Covid-19 more dangerous.

Larger studies currently in progress could provide more definitive answers, said Dr. Rabinovich, who stated that she was “completely neutral” about the potential benefits of ivermectin. “I only want data because there is such a mess in the field.”

Categories
Business

‘I fear we’re getting numb’ to Covid numbers

How CVS and other retailers will dole out any surplus Covid vaccine doses

Richard Besser, who served as the deputy director of the Centers for Disease Control and Prevention under former President Barack Obama, said he feared people will discount Covid numbers if governors decide to reopen their states.

“In Texas, where they lifted the mask mandate, less than 10% of the people have been vaccinated and the levels are higher than last summer when they first put the mandates on,” Besser said. “I worry these numbers are going a little numb, and we don’t remember the fact that over 2,000 people die from Covid every day in America.”

Texas and Mississippi governors announced Tuesday that they were lifting mask mandates and allowing companies to reopen at full capacity.

“Now is the time to open Texas 100%,” said Texas Republican Governor Greg Abbott.

Connecticut governor, Democrat Ned Lamont, announced Thursday that some of his state’s businesses will be allowed to operate at full capacity again from March 19.

Besser told CNBC’s The News with Shepard Smith that states should follow the CDC’s lead and take into account the concerns of Director Rochelle Walensky, who said she was still “deeply concerned” about the virus.

“Our recent declines seem to be stalling – at over 70,000 cases a day,” Walensky said during a press conference Monday at the White House. “With these new statistics, I am very concerned about reports that more and more states are rolling back the exact public health measures we have recommended to protect people from Covid-19.”

Besser’s old agency is expected to release new guidelines on Friday for people who are fully vaccinated. He advised host Shepard Smith that people should meet their expectations.

“I don’t think they will give the go-ahead to wholesale that many people are hoping for. There will be another downward trend and more people will be vaccinated than we currently have in the country,” Besser said.

Categories
Politics

Senate takes step towards passing $1.9 trillion aid invoice

Senate takes step toward passing $1.9 trillion relief bill

The Senate took its first big step Thursday to pass the Democrats’ $ 1.9 trillion coronavirus bailout as lawmakers seek to break a deadline to prevent unemployment benefits from running out.

The board voted to start a debate on the bailout and set the stage for its approval earlier this weekend. Vice President Kamala Harris had to break a 50:50 tie after a party line in the evenly divided Senate.

A tricky process awaits as Senate Republicans who oppose more stimulus spending have tools to delay a final vote on the 628-page bill by hours or even days.

  • The process coordination begins with a debate on the plan of up to 20 hours. Senators may not use all of the time.
  • The debate will not start immediately. Wisconsin Republican Senator Ron Johnson forced Senate officials to read the massive laws out loud, which will take at least a few hours. Senate Majority Leader Chuck Schumer, DN.Y., said the move would “only delay the inevitable”.
  • At the end of the discussion phase, the Senate will vote on an indefinite number of amendments to the bill as part of the budget comparison, which enables legislation to be passed with a simple majority. Republicans are expected to use amendments to force Democrats into politically sensitive votes and drag out the process.

“No matter how long it takes, the Senate will remain in session this week to finalize the bill,” Schumer said on Thursday.

Senator Ron Johnson, R-Wisc., Attends a Joint Hearing of the Senate Homeland Security and Government Affairs and Senate Rules and Administration Committees on Capitol Hill, Washington, on February 23, 2021, to discuss the May 6 attack on the Capitol Investigate January.

Erin Scott | Pool | Reuters

After the Senate passes the plan, the House plans to approve it by the middle of next week. Democrats want the legislation to be brought to President Joe Biden’s desk before March 14, when a $ 300 weekly unemployment insurance increase and benefit-expansion programs to an additional million people officially expire.

Democrats could pass the bill in the Senate themselves, with Harris breaking a tie.

Republicans have criticized the level of spending as Covid-19 vaccinations spike and the country draws closer to reopening in the coming months.

Senate Minority Chairman Mitch McConnell, R-Ky., Said Thursday his problem with the plan was “how poorly this bill is doing what Americans need right now.”

Democrats said the proposal will both boost Americans, who struggle for housing and food after nearly a year of economic restrictions, and prevent future economic troubles once the country resumes normal activities. The party, which must keep every member on board to get the bill through the Senate, discussed a number of last-minute changes to address concerns.

The Democrats’ plan provides a weekly unemployment benefit of $ 400 per week through August 29, and expands programs to allow more people to be eligible for unemployment benefits by the same date. Some Democratic senators had urged that the benefits either be maintained for an extended period or that the additional payment amount be reduced to $ 300 per week.

To gain support from moderate Democrats, party leaders also agreed to limit the number of people receiving direct payments to as much as $ 1,400. New income caps could mean at least 8 million people fewer checks than under the law the House passed on Saturday.

The Senate also removed a provision passed by the House of Representatives to raise the federal minimum wage to $ 15 an hour by 2025. The Chamber’s legislature, ruled by Parliament, could not do this in the context of the budget vote.

Other changes to the house bill include an increase in the employee loyalty tax credit, an increase in COBRA health insurance subsidies, and increased funding for critical infrastructure and rural health care, according to NBC News.

Democrats considered changing to ensure that more of the $ 350 billion pool went to state, local, and tribal government to small states.

Legislation also provides $ 20 billion for the distribution of Covid-19 vaccines, extends the child tax credit by one year, and provides an additional $ 20 billion in rent and utilities.

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Categories
Health

Democrats push FDA to manage poisonous metals in child meals

Democrats push FDA to regulate toxic metals in baby food

Democrats urge FDA to regulate toxic metals in baby food after research finds high levels.

Chris Tobin | DigitalVision | Getty Images

Top Democrats are urging the FDA to regulate toxic metals in baby formula after a Congressional investigation found metals like arsenic, lead, and cadmium to be found in far higher amounts than permitted in bottled water and other products.

Sens. Amy Klobuchar, D-Minn. And Tammy Duckworth, D-Ill. As well as the representatives Raja Krishnamoorthi, D-Ill. And Tony Cardenas, D-Calif., Told CNBC that they are asking regulators to limit the levels of toxic heavy metals in baby food.

The Food and Drug Administration does not currently set limits for heavy metals in baby food, particularly for arsenic in rice grain. The agency regulates other toxins in consumer products such as lead, arsenic, and cadmium in bottled water.

The four Democrats said Thursday they had drafted laws that would tighten regulations on baby food safety and sent them to FDA staff for technical review. However, lawmakers want the FDA to use their existing regulator to take immediate action.

“Through our legislation and FDA regulations, we will ensure that the baby foods we put on the market are safe and that our children are safe,” Krishnamoorthi said in a statement. “I am proud to work with my colleagues, along with the FDA, stakeholders and health professionals across the country, to develop major reforms.”

An FDA spokeswoman said the agency takes exposure to toxic metals in food “extremely seriously” and that the agency is reviewing the results of the Congressional investigation. She added that “The FDA has not commented on whether it has received requests for technical assistance regarding the legislation, but we would look forward to working with Congress on the matter.”

Rep. Raja Krishnamoorthi, D-Ill., During the House Oversight and Reform Committee hearing titled Protecting the Timely Delivery of Mail, Medicines and Postal Ballots on Monday, Aug. 24, 2020, in the Rayburn House office building.

Tom Williams | CQ Appeal, Inc. | Getty Images

A subcommittee of the House Committee on Oversight and Reform, chaired by Krishnamoorthi, released the results of its 15-month investigation in February. It used data from four companies – Nurture, Hain Celestial Group, Beech-Nut Nutrition, and Gerber, a unit of Nestle – that responded to the subcommittee’s requests for information on testing guidelines and test results for their products.

The research found that “baby food companies weren’t looking for parents and young children the way we all expected – instead they knowingly sold us tainted products,” said Krishnamoorthi.

Hain said at the time that the investigation “did not reflect our current practices,” adding that the company’s internal standards “meet or exceed current federal guidelines.”

Gemma Hart, a spokeswoman for Nurture, told the New York Times at the time that their products were safe and that the metals were only present in “trace amounts”. Beech-Nut said Thursday that the company is “committed to continuously improving its internal standards and testing processes as technology and knowledge evolve.” Dana Stambaugh, a spokeswoman for Gerber, said the company is taking steps to minimize metals in its products.

Three other baby food companies – Walmart, Sprout Organic Foods, and Campbell Soup – did not provide all of the information requested. At the time the investigation was published, Campbell said its products were safe and cited the lack of FDA standards for heavy metals in baby food.

A Walmart representative told Reuters at the time that private label product suppliers must meet their own specifications, “which for baby and toddler foods means the levels must meet or fall below the limits set by the FDA.”

Sprout did not immediately respond to CNBC’s request for comment.

“Like parents across America, I was horrified to learn that trusted baby food brands knowingly sell products that are high in toxic lead, arsenic, mercury and cadmium,” Rep. Cardenas said Thursday. “I urge the FDA to use their existing agencies to take immediate regulatory action.

The investigation found that heavy metals are naturally found in some grains and vegetables, but added that levels can be increased if manufacturers add other tainted ingredients to baby food. According to the report, companies rarely test their products for contamination before sending them to stores.

“It is unacceptable that, despite parents’ efforts to protect their children, some leading baby formula manufacturers have launched products that expose children to dangerous toxins,” Klobuchar said in a statement. “This legislation will protect children and ensure a healthy start by holding manufacturers accountable for removing toxins from infant and toddler foods.”

Categories
Business

Tribune Publishing, dealing with an acquisition, provides to money holdings and digital income.

Tribune Publishing, facing an acquisition, adds to cash holdings and digital revenue.

Tribune Publishing, which owns The Chicago Tribune, The Daily News, and seven other metropolitan newspapers, has significantly increased its digital subscribers and sales over the past year, the newspaper chain announced on Thursday in its first profit publication since it signed a deal last month announced had bought Alden Global Capital from the hedge fund.

Tribune also announced it increased cash holdings by $ 36.7 million to nearly $ 100 million during the year and reduced total cost of ownership by more than $ 138 million.

In the fourth quarter, Tribune advertising revenue declined more than $ 32 million compared to the same quarter last year. This was a sharp drop, partly due to the coronavirus pandemic, while total subscription income fell by $ 3.1 million, although digital subscription income rose by $ 5.4 million.

Last month, Tribune and Alden announced that Alden would buy the 68 percent of the company’s shares it did not already own for $ 630 million, provided two-thirds of Tribune’s remaining shareholders approve the deal . Alden already owns dozens of newspapers across the country through a subsidiary, the MediaNews Group.

Terry Jimenez, who was named Chief Executive of Tribune in February 2020, pointed in a press release on the company’s digital gains to mitigate the “negative effects of the Covid-19 pandemic” and position Tribune for a prosperous future. ”

Tribune gained around 102,000 digital subscribers in 2020, an increase of 30.5 percent for a total of 436,000. Digital revenue, including digital advertising and subscriptions, grew $ 16.5 million, or 57 percent.

“The steps we took over the year to streamline our cost structure, significantly reduce future commitments, pursue digital growth and invest in high quality content have enabled Tribune to create a platform that will work for will be successful for years to come, “said Jimenez.

Alden already has a 32 percent stake in Tribune, which it acquired at the end of 2019. The Manhattan-based hedge fund is known for cutting the cost of its own newspapers in order to increase profit margins. In January 2020, Tribune offered large-scale buyouts. After the pandemic hit the United States, it permanently cut some employees’ wages, initiated vacations, and also closed several offices of their newspapers.

Tribune said that considering the Alden deal, there would be no conference call to discuss the earnings announcement.

Categories
Business

Hole (GPS) experiences This fall 2020 earnings, 2021 gross sales outlook

Gap (GPS) reports Q4 2020 earnings, 2021 sales outlook

A man walks past a store in New York City on January 12, 2021.

Angela Weiss | AFP | Getty Images

Gap Inc. on Thursday predicted a rebound in sales growth in 2021, hoping customers will soon return to their stores and spend more money on apparel as they try to resume some social activities.

Shares rose more than 3% in after-hours trading.

The apparel maker reported fourth-quarter sales that fell short of estimates as the ongoing coronavirus pandemic forced stores to close in Europe, parts of Asia and Canada. However, thanks to its efforts to sell more goods at full price and make progress, the company made a profit.

The Old Navy and Athleta brands, which focus on basics and exercise equipment, showed continued strength. However, the Gap brand of the same name and the Banana Republic label recorded a further quarter of the decline in sales.

For the quarter ended Jan. 30, Gap reported net income of $ 234 million, or 61 cents per share, compared to a loss of $ 184 million, or 49 cents per share, last year.

The last period’s earnings included a tax gain of around 45 cents per share and an impairment loss of around 12 cents per share related to Gap’s Intermix business. According to a survey by Refinitiv, analysts had asked for earnings of 18 cents per share. It wasn’t immediately clear whether analysts had considered the impact of these items.

Net sales decreased 5% from $ 4.67 billion a year ago to $ 4.42 billion. That didn’t match analysts’ estimates of $ 4.66 billion.

Gap’s sportswear brand Athleta in the same store grew 26% year-over-year and Old Navy increased 7%. However, Gap’s eponymous brand saw sales drop 6% in the same store, and Banana Republic announced that its key metric is down 22%. In-store sales is an important metric for retailers who track performance online and in stores that have been open for at least a year.

According to Gap, total online sales increased 49%, representing 46% of net sales for the quarter.

For fiscal 2021, the company is calling for an increase in net sales in mid-to-senior teens compared to 2020. This assumes the effects of Covid will continue into the first half of 2021 and the retailer will return to a normalized prior-year level – pandemic sales level in the second half, the company said.

According to Refinitiv, analysts called for sales growth of 14.1% compared to the previous year.

Earnings are expected to be between $ 1.20 and $ 1.35 per share. Analysts had expected earnings of $ 1.28 per share.

One limitation, however, is still overcrowded US ports, which results in inventory staying in transit for long periods of time. Gap said the port’s congestion is expected to continue into the first half of the year. As a result, inventory levels are expected to continue growing in the second quarter compared to last year in the high single digits.

Gap plans to open 30 to 40 Old Navy stores and 20 to 30 Athleta stores this year. And around 100 Gap and Banana Republic stores will be closed worldwide.

Gap stocks are up about 75% in the past 12 months. The company has a market capitalization of $ 9.46 billion.

The full press release from Gap can be found here.