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Health

Peter Thiel-backed psychedelic start-up’s shares pop in Wall Avenue debut

Peter Thiel-backed psychedelic start-up Atai Life Sciences soared on Friday on its first day of trading on Wall Street.

The newly listed Nasdaq stock opened 40% before falling a little.

The German biotech company’s IPO on Thursday evening was $ 15 per share, the upper end of the expected range. The company, which aims to make psychedelic drugs for the treatment of mental disorders, raised $ 225 million on a valuation of $ 2.3 billion.

Atai is the third psychedelic biotech company to go public in the US, following in the footsteps of MindMed, which went public on Nasdaq in April, and Founder Fund-funded Compass Pathways, which listed in September were. As of Thursday’s close, Compass Pathways is up 26% since it debuted, and MindMed, which was just announcing the resignation of its CEO, has been down about 19% since it went public.

Each biotech develops therapies with the psychedelic mushroom compound psilocybin, LSD and MDMA derivatives for the treatment of addiction and mental illnesses such as depression, anxiety, schizophrenia and traumatic brain injuries. Three years after its inception, Atai Life Sciences has 10 therapeutic programs in its pipeline, each in different phases of clinical trials.

Atai founder and chairman Christian Angermayer said Friday on CNBC’s “Squawk Box”: “The world we are building is a bad place for our brains, so mental health problems will increase. Portfolio to end the mental health crisis . “

Investor interest in psychedelic treatments has grown as the medical community’s interest in these therapies has grown.

Centers for psychedelics and psychology include Johns Hopkins University, Yale University, University of California, Berkeley, and the Icahn School of Medicine. Recent studies showing MDMA’s promise in treating post-traumatic stress disorder and the effectiveness of psilocybin, a hallucinogenic chemical found in psychedelic mushrooms, in treating drug-resistant depression have only increased interest in the area.

Angermayer was an early investor in Compass Pathways, and his own company, Atai, serves as the holding company for various psychedelic startups seeking alternative treatments for mental illness. He told CNBC on Friday that new age biotechs are building on centuries of practice in shamanic cultures and religions.

There are currently federal restrictions on psychedelic mushrooms, MDMA – commonly known as molly or ecstasy – and LSD around the world. However, Oregon became the first US state to legalize psychedelics for therapeutic use last year. Washington, DC residents also recently voted to decriminalize the use of psychedelics for medical purposes.

Atai Life Sciences listed on Nasdaq for its IPO on June 18, 2021.

Source: Nasdaq

Angermayer insists that government approval of these drugs for therapeutic purposes for the mentally ill could make a big difference. “They are very, very strong drugs, but they must be taken under supervision. … You will trip while sitting with your therapist.”

Atai Life Sciences are, among others, the billionaire Thiel as well as Mike Novogratz’s Galaxy Investments and Angermayer’s own Apeiron Investment Group.

According to venture capital tracker CB Insights, VC deals in psychedelics have grown significantly over the past three years: less than $ 100 million in venture capital was invested in psychedelic startups in 2018 and 2019, but $ 346 million in 2020. By April 2021, VCs had already invested $ 329 million in the industry.

It’s no wonder Atai’s was oversubscribed more than 12 times, according to a market source that asked to remain anonymous due to the nature of the discussion. “A good part was taken over by existing investors,” said the person, adding that Thiel was the largest existing investor and that he would be “doubled” when it went public.

Mutual fund Palo Santo said it made a notable stake in Atai’s initial public offering. “There is an urgent need to address our broken mental health system,” said Daniel Goldberg, co-founder of Palo Santo, in a statement. “We believe psychedelics will expand treatment options and transform the outdated system.”

Atai filed an S-1 filing with the Securities and Exchange Commission in April that showed it raised a total of $ 362.3 million from private investors at the time.

The company, which describes itself as a drug development platform, was founded to acquire, incubate, and develop psychedelics and other drugs used to treat depression, anxiety, addiction, and other mental illnesses.

Atai, which employs around 50 people in offices in Berlin, New York and San Diego, currently works with 14 companies focused on drug development and other technologies.

In exchange for a controlling interest in the drugs and technologies they develop, Atai helps scientists raise money, work with regulators, and conduct clinical trials. None of Atai’s drugs have yet been officially approved by regulatory agencies.

Thiel invested $ 11.9 million in Atai in November through his venture firm Thiel Capital.

“Atai’s great virtue is to take mental illness as seriously as we should all have taken illnesses all along,” said Thiel, the co-founder of Palantir and PayPal, in a statement shared with CNBC at the time. “The company’s most valuable asset is its sense of urgency.”

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Politics

With automotive costs surging, yours is a chief goal for thieves

RubberBall Productions | Brand X Pictures | Getty Images

You can blame the Covid pandemic for another thing: an increase in car thefts.

Vehicle thefts in the United States rose 9% year over year to 873,000, the highest number in more than a decade, according to National Insurance Crime Bureau statistics provided by CNBC’s American Greed.

The pandemic created a “perfect storm” of conditions for the increase in car thefts, said NICB President and CEO David Glawe.

“We have a lot of disenfranchised youth who are unemployed and outreach programs are being closed or restricted because of Covid,” he said. “There is frustration and anger in society. We are also seeing restrictions on public safety and the withdrawal of proactive police forces due to budget constraints.”

Vehicles are also particularly valuable these days. Due to the tight supply and strong demand after the pandemic, used car prices have increased by almost 30% compared to the previous year.

The rise in thefts started slowly and coincided with the start of the pandemic in March 2020. They accelerated until last June when the first wave of Covid lockdowns subsided and a second wave loomed. In November, monthly thefts were 18% ahead of 2019.

The biggest jump was in Chicago, where vehicle thefts rose by 134% last year, the NICB said. The Chicago police said the number of carjackings had doubled.

“This has been a year that has presented law enforcement with numerous challenges,” Chicago Police Commissioner David Brown said in a January statement announcing the numbers.

The numbers have leveled off a bit as pandemic restrictions have eased, but Chicago police data released earlier this month shows thefts are still 9% higher than a year ago.

Elsewhere, thefts rose 68% in New York City and 50% in Washington, DC, the NICB said.

Hot goods

Criminals have long understood how lucrative trading in vehicles can be. An extreme example of another type of vehicle crime in 2014 was serial fraudster and internet influencer TR Wright III, who portrayed himself as an arms dealer and an internationally mysterious man.

“All of the Instagram photos showed this person with fancy cars, guns, high-end clothing, high-end vehicles, yachts, jets traveling around the world,” said James Reed, agent for the US Bureau of Alcohol, Tobacco and Firearms, opposite “American Greed.”

Wright, 36, admitted to being part of a conspiracy in which he bought a 2008 Lamborghini Gallardo with a salvage title at a bargain price of $ 76,000, deliberately ditched it, and raised nearly $ 170,000 in insurance revenue.

Wright pleaded guilty to two counts of conspiracy in 2018, in a far-reaching scheme that affected not only vehicles but boats and planes as well. Wright, who is serving a five-year prison sentence, told American Greed that he made even more money than prosecutors claim.

“It depends how you do the math, but if you took a total loss, let’s say somewhere between $ 30 million and $ 40 million,” Wright said.

But also much smaller crooks can kill in other ways on the vehicle market, especially with today’s high prices. There is a free market for most cars and trucks and their parts.

While Wright bought his Lamborghini through a company he controlled, it was remarkably easy for criminals to simply steal vehicles. According to the NICB, more than 10% of the stolen vehicles in 2019 – the last year for which full figures are available – had the keys left inside.

How to thwart the thieves

Since almost all cases lead to an insured event, every policyholder suffers in the form of higher premiums. This is why the NICB urges vehicle owners to protect themselves, especially when the crooks are so active.

Here are some tips, some of which are common sense:

  • Take your keys out of the ignition lock when you park the vehicle, or if your vehicle has a remote control key, keep it with you even if you only get out of the vehicle for a short time.
  • Close your doors and windows and park in a well-lit area.
  • Do not leave valuables or other items that might attract the attention of thieves in your car. This also includes your garage door opener.
  • Consider keeping a picture of your vehicle registration on your phone instead of leaving the actual document in the glove box.
  • Think of installing a car alarm, as well as a kill switch that can immobilize a stolen vehicle.
  • Consider buying a GPS tracker that can help authorities find your vehicle.

You may not own a six-digit Italian sports car, but almost anything you drive is a hot commodity these days.

See social media star TR Wright III lead a brazen plot to fame and fortune fraud and hear his own words from prison. Catch a BRAND NEW episode of “American Greed” on CNBC only on Monday, June 21st at 10pm ET / PT.

Categories
Health

For a Science Reporter, the Job Was All the time In regards to the Individuals

“I would have liked to have lived longer, worked longer,” said Sister Mary Andrew Matesich, a Catholic nun in 2004. But she said, “It is not the hand that has been given to me.”

She had breast cancer that had spread and she had volunteered for experimental treatments knowing they probably wouldn’t save her but hoping the research would help other patients.

“I wouldn’t be alive today if it weren’t for other women in clinical trials,” she said.

She died about a year after our conversation. She was 66.

In 22 years of writing medicine for the New York Times, I have covered births, deaths, illnesses, new treatments that worked and some failed, bold innovations in surgery, and countless studies in medical journals. The goal has always been to provide clear information that is useful and interesting to readers, and to show the human side of what the message could mean to patients. When reporting on Covid last year, the focus of my work was on vaccines and treatments, but also on people with other serious illnesses who missed care because of the pandemic.

Today is my last day as a staff writer at The Times. When I retired, the most vivacious were the people: their faces, their voices, their stories, the unexpected truths they revealed – sometimes after I put my notebook away – that shook me or taught or humiliated me, and about it reminded that this beat is about a lot more than all of the data I’d tried to analyze over the decades. It offers a glimpse into the way disease and injury can shape people’s lives, and the huge differences medical advances can make for those who have access to them.

Many who spoke to me suddenly became what we all fear – patients – and faced difficult situations. Nobody sought attention, but they agreed to interviews in the hopes that their stories might help or encourage other people.

Tom and Kari Whitehead invited me to their home in 2012 to meet their daughter Emily, then 7, who was near death from leukemia while they were playing an experimental treatment that genetically altered some of her cells. She was the first child to have it. When we visited seven months after her treatment, she did somersaults and adorned the family’s Christmas tree with a naked Barbie doll. Emily is now 16 years old and the treatment she received was approved by the Food and Drug Administration in 2017.

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June 17, 2021 at 1:52 p.m. ET

Other stories were painfully instructive. One woman described her painful, aggressive cancer caused by a sexually transmitted virus, but had to omit her name because she believed her mother-in-law would call her a “slut” when she was diagnosed.

A young former Marine with a brain injury and severe facial damage from a bomb in Iraq said he had a girlfriend prior to his deployment and they were discussing marriage when he returned. “But I didn’t come back,” he said.

Moments of kindness and wisdom also stand out. A doctor who suggested that a little extra time for a cancer patient could mean being there for a wedding or graduation forever tempered my science writer’s cynicism about treatments that could only add months to a person’s life.

In the middle of the night, I accompanied a transplant team who, with the consent of the parents, were to harvest organs from a young woman who was brain dead from an overdose. Team members slipped into a waiting room, taking special care not to allow relatives to see the ice boxes that would carry the young woman’s organs, including her heart.

Looking for help with an article in January, I told Dr. James Bussel, a blood disorders expert at Weill Cornell Medicine, told of a woman who had developed a severe bleeding problem after receiving a Covid vaccination. He surprised me by asking for the family phone number so he could offer his help. Under the direction of Dr. Bussel, the woman’s doctors changed her treatment, a change of course that the patient believes saved her life. Since then, Dr. Bussel has provided similar assistance in about 30 to 40 other cases of this rare condition across the country.

When I asked why he was ready to get involved, he said he became a doctor to help people, adding, “I feel like I have this expertise and it would be stupid to waste it, if I could contribute and help someone. “

In a lesser way, I had similar aspirations. I’ve had an opportunity to do work that I believe is valuable and that I hoped could do something good. Reporting for The Times was a license to meet fascinating people and ask them endless questions. I owe my thanks to everyone who took the time to speak to me, and I hope I lived up to their stories.

Categories
Health

5 issues to know earlier than the inventory market opens Friday, June 18

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow tracks for first five-session losing streak since January

Traders at the New York Stock Exchange.

Source: NYSE

U.S. stock futures fell sharply Friday as the Dow looked to be set up for its first five-session losing streak since January. Dow futures sank 300 points. Thursday was the second 200-point-plus down day in a row following the Federal Reserve meeting. As of Thursday’s close, the 30-stock average was off nearly 2% for the week. The S&P 500, tracking for a more modest weekly decline, fell Thursday for the third straight session. The Nasdaq bucked Thursday’s down trend, adding nearly 0.9% and breaking a two-session losing streak. The Nasdaq was within just 13 points of Monday’s record close. The S&P 500 was less than 1% from its record close Monday. The Dow was more than 2.7% from its latest record close in early May.

2. 10-year yield continues to bounce around after Fed-driven spike

Federal Reserve Chair Jerome Powell speaks during a Senate Banking Committee hearing on Capitol Hill, Washington, December 1, 2020.

Al Drago | Pool | Reuters

The 10-year Treasury yield to fluctuate after Wednesday’s Fed-driven spike to nearly 1.6%, trading Friday around 1.5%. Yields drifted lower despite rising inflation expectations from the Fed. The central bank on Wednesday afternoon also signaled two interest rate hikes in 2023. In March, policymakers said they saw no increases until at least 2024. Fed Chairman Jerome Powell has said he’s willing to let inflation run above the Fed’s traditional 2% target rate before adjusting policy in order to allow the economy more room to recover from the depths of the Covid pandemic.

3. Many commodities bounce one day after falling sharply

Many commodities bounced Friday, one day after falling sharply as China started to take steps to cool off rising prices. Those declines cut into months of gains and weighed on stocks. On Thursday, the drops in commodities were widespread, with platinum futures falling more than 11%, along with declines of nearly 6% in corn futures and 4.8% in copper futures.

A Chinese government agency announced a plan Wednesday to release some of its reserves of key metals. Commodities often move inversely to the dollar since they are mostly priced globally in the U.S. currency, which has been strengthening since this week’s Fed decisions.

4. Warnings about Covid from U.K. study and England’s top medical officer

Paramedics arrive with a patient with Covid-19 at the emergency department of Sharp Memorial Hospital in San Diego, California.

Bing Guan | Bloomberg | Getty Images

A new U.K. study examined brain imaging before and after coronavirus infections and looked specifically at the potential effect on the nervous system. “In short, the study suggests that there could be some long-term loss of brain tissue from Covid, and that would have some long-term consequences,” Dr. Scott Gottlieb told CNBC’s “The News with Shepard Smith.” The destruction of brain tissue could explain why Covid patients lost their sense of smell, he said.

Hounslow, London, which has become one of the U.K.’s biggest hotspots for the variant of coronavirus first identified in India, on Thursday 27th May 2021.

Tejas Sandhu | MI News | NurPhoto | Getty Images

England’s top medical officer warned it would likely take five years before new Covid vaccines could “hold the line” to a very large degree against a range of coronavirus variants. Until then, Chief Medical Officer Chris Whitty said, new vaccination programs and booster shots would be needed. A further easing of lockdown restrictions in England was delayed this week due to a surge in cases of the delta variant first discovered in India.

5. Biden signs a bill establishing Juneteenth as a federal holiday

U.S. President Joe Biden is applauded as he reaches for a pen to sign the Juneteenth National Independence Day Act into law as Vice President Kamala Harris stands by in the East Room of the White House in Washington, June 17, 2021.

Carlos Barria | Reuters

Most federal workers will observe Juneteenth on Friday because the new holiday marking the end of slavery in the U.S. falls on a Saturday this year. The New York Stock Exchange will not close for Juneteenth but will evaluate closing for it in 2022. On Thursday, President Joe Biden signed a bill establishing Juneteenth, celebrated on June 19, as the first new federal holiday since Martin Luther King Jr. Day in 1983. Juneteenth marks the day in 1865 when Union soldiers arrived Galveston, Texas, and officially ended slavery in the state. It happened more than two years after then-President Abraham Lincoln issued the Emancipation Proclamation.

— Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

Disclosure: Dr. Scott Gottlieb is a CNBC contributor and is a member of the boards of Covid vaccine maker Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings′ and Royal Caribbean’s “Healthy Sail Panel.”

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Politics

Excessive Hopes for Johnson & Johnson’s Covid Vaccine Have Fizzled within the U.S.

But manufacturing problems at a factory in Baltimore run by Emergent BioSolutions, Johnson & Johnson’s subcontractor, have had serious consequences for the vaccine. Because of a major production mishap that resulted in a two-month shutdown in operations, Johnson & Johnson has essentially been forced to sit out the brunt of the pandemic in the United States while Pfizer and Moderna, the other federally authorized vaccine makers, provided almost all the nation’s vaccine stock.

Johnson & Johnson has had to throw out the equivalent of 75 million doses, and the regulatory authorities in Canada, South Africa and the European Union also decided to pull back millions more doses made at the Baltimore plant. The company has been able to deliver only one-fourth of the 100 million doses it promised the federal government by the end of this month.

Dr. Anne Zink, Alaska’s chief medical officer, said that in her state, Johnson & Johnson’s shot had become a victim of its own timing. By late February, when it was authorized by the Food and Drug Administration, Alaska had figured out how to get two-dose vaccines to remote areas, leaving the one-shot regimen less crucial than she had initially imagined.

Dr. Clay Marsh, West Virginia’s Covid-19 czar, said that the pause and Johnson & Johnson’s later authorization — more than two months after Pfizer’s and Moderna’s — deprived it of a “halo effect.” By the time West Virginia had an ample supply of all three vaccines, he said, “people started to get this concept that maybe there’s something better about being immunized with Pfizer and Moderna.”

The Johnson & Johnson shot had also suffered from a “social network effect,” said Andrew C. Anderson, a professor of public health at Tulane University who researches vaccine hesitancy. Most Americans who were inoculated in the early months of the vaccine campaign received Moderna and Pfizer shots, and so their friends and family were less likely to deviate and accept a different brand.

In Louisiana, hospitals in the New Orleans area have started offering the Johnson & Johnson shot to people on their way out of the emergency room; the thinking is that people will be more likely to accept the vaccine when a doctor who has treated them asks them to take it. And in Arkansas, where only a third of the population is fully vaccinated, state officials are offering Johnson & Johnson doses to agriculture, manufacturing, wastewater and poultry workers, with gift certificates for hunting and fishing licenses as a reward.

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World News

European start-up funding smashes 2020 document in first six months

The Klarna logo that is displayed on a smartphone.

Rafael Henrique | SOPA Pictures | LightRocket via Getty Images

LONDON – Europe’s tech sector has already attracted more venture capital investment this year than it did in all of 2020, according to data reported to CNBC.

Start-ups on the continent raised a whopping 43.8 billion euros (60.9 billion US dollars) in the first six months of 2021, as figures from Dealroom show, surpassing the record of 38.5 billion euros, that were invested in 2020.

And this despite the fact that the number of venture deals signed so far is around half as high as agreed in 2020. According to the Dealroom, around 2,700 financing rounds have been raised in 2021, compared to 5,200 in the previous year.

The Swedish company Klarna, which has to buy now and pay later, has already raised over € 1.6 billion in two financing rounds this year.

It suggests that European tech companies are pulling in far larger sums of money per investment than in previous years to defy the economic uncertainty of the coronavirus pandemic, which has given online services a huge boost.

Guillaume Pousaz, CEO of Checkout.com, said that startups were often created during times of crisis, citing the emergence of several new financial technology companies in the wake of the 2008 global financial crisis.

“When people lose their jobs, people actually spend a lot of time at home or have to rethink their lives,” Pousaz told CNBC’s Squawk Box Europe during the Viva Technology conference in Paris.

“When there is a major upheaval in society, it is often the time when many new start-ups emerge. We are particularly pleased about this opportunity. “

On Tuesday, French President Emmanuel Macron said that by 2030 he wanted to found at least 10 technology companies in Europe, each worth over 100 billion euros, and that a company the size of American and Chinese technology giants had to emerge.

Scale-Up Europe, a group that includes the founders of UiPath and Wise, has proposed 21 recommendations to help the region build the “next generation of tech giants”. Proposals include corporate tax credits for investing in startups and regulatory changes that adapt to new innovations.

Sebastian Siemiatkowski, CEO of Klarna, said the UK is leading the way in technology policy in Europe and that a number of issues need to be addressed before the European Union can create its own tech giants.

“I am concerned about how the regulatory environment has evolved in the European Union,” he told CNBC, adding that the UK is focused on rules that make it easier for consumers to switch from one technology service to another.

Siemiatkowski highlighted the EU regulation of web cookies as an example of “bad regulation”, as users receive a large number of consent messages when they visit different websites. “It drives us to become more complacent and less concerned about privacy than the opposite,” he said.

“I hope that the European Union will now take action and start writing really good rules that will help consumer freedom and movement, increasing competition in areas such as retail banking, but also in technology in general,” added Siemiatkowski added.

However, as the number of $ 1 billion startups in Europe continues to grow, the number of exits on the continent is also increasing. There have been some notable acquisitions this year, including the $ 1.6 billion purchase by Etsy of UK fashion resale app Depop and JPMorgan’s acquisition of London-based robo-advisor Nutmeg.

In terms of listings, there have been a number of notable debuts in London in particular, including the grocery delivery app Deliveroo, cybersecurity firm Darktrace, and reviews site Trustpilot. Money transfer giant Wise, formerly known as TransferWise, plans to go public in the UK capital soon.

Siemiatkowski said it was too early to say when Klarna, which was last privately valued at $ 45.6 billion, would go public, but that it would likely happen in the next year or two. Pousaz said Checkout.com is unlikely to go public, but “of course we will one day be a public company.”

Categories
Entertainment

Now Sparks Can Confuse Followers on the Massive Display screen

Sparks is a band unlike any other. Ron and Russell Mael — the brothers who have made up the eccentric, unclassifiable duo for more than 50 years — have played a pivotal, if unheralded, role in multiple musical movements, from glam rock to new wave to synth-pop.

Their witty, hyper-literate songs, along with the singer Russell’s good looks and keyboardist Ron’s deadpan, glowering stage presence, made Sparks icons of a sort in Europe, but never more than a cult band in the United States. With 25 albums to their name, they have often followed up their biggest moments with radical shifts in style that thrilled loyal fans but baffled more casual listeners.

In 2017, the music-obsessed director Edgar Wright, fresh off the success of “Baby Driver,” went to see Sparks perform in Los Angeles. For years, he had been telling his friends that someone needed to make a documentary about the group, and as he looked at the audience, which ranged from teenagers to graying 60-somethings, and the weird mix of celebrities in attendance, he insistently repeated the idea to his friend, the filmmaker Phil Lord — who told him to make the movie himself.

“I thought, if not me, then who would do it?” Wright said in a recent video conversation.

Four years later, “The Sparks Brothers” is reaching theaters, an exhaustive, proudly overstuffed two-hour-20-minute celebration of a group described in the film as “successful, underrated, hugely influential and overlooked at the same time.” In addition to interviews with the enigmatic Maels, Wright conducted 80 interviews, talking with Sparks fans like Beck, Flea, members of Duran Duran, Mike Myers and Neil Gaiman, as well as collaborators and associates.

One theme in the documentary is the Maels’ lifelong interest in film, and their multiple near-misses in trying to bring their music to the big screen, including a proposed collaboration with the French comedian Jacques Tati and a project with Tim Burton. So it’s ironic that just weeks after “The Sparks Brothers” arrives, they have another movie release: “Annette,” a musical written by the Maels, directed by Leos Carax, and starring Adam Driver and Marion Cotillard. The story of a comedian and opera singer who give birth to a daughter with a “unique gift,” it will open the Cannes Film Festival in July.

“Even before we had a band, the merging of music and movies just seemed so perfect,” Ron, 75, said, adding, “To be sitting on a movie set in Brussels and watching Adam Driver and Marion Cotillard singing something you wrote — it’s surreal, way beyond what we expected.” (Carax was unavailable for comment.)

Wright presented his idea to the Maels that night he saw them onstage, but they expressed some trepidation, for the same reasons they had turned down previous offers for a documentary.

“We always say that we don’t like looking back because we think it kind of paralyzes you,” said Russell, 72, encapsulating the constant creative forward motion that has defined the band’s oddly incomparable history. “The proposition of doing a documentary is kind of the opposite of that, and in our minds we thought, is it like an obituary in some sense?”

During a video call, Russell added that the endurance of the Maels’ partnership also seemed potentially problematic. “Sparks’ story isn’t the standard fare of a lot of music documentaries,” he said. “There’s no drug casualties, we don’t have that conflict of other bands with brothers in the band — so are there enough dramatic elements to make it interesting?”

To Wright, on the contrary, their perseverance was exactly the point. “That’s the inspiring part,” he said. “Every other band story is about people squandering their talent, and at a certain point you lose sympathy. The fact that Sparks have lasted so long is partly because they’re always close to success but never mainstream. They’ve managed to exist in this sweet spot where they can keep going, but they never have to sell out.”

Join Times theater reporter Michael Paulson in conversation with Lin-Manuel Miranda, catch a performance from Shakespeare in the Park and more as we explore signs of hope in a changed city. For a year, the “Offstage” series has followed theater through a shutdown. Now we’re looking at its rebound.

To the surprise of many, the Maels were born not in Britain, but in Southern California, and were even star athletes in high school. They started playing in groups while attending the University of California, Los Angeles, inspired by the spiky spirit of the Who and the Kinks and by French New Wave cinema. Their band, Halfnelson, was championed by Todd Rundgren, but their 1971 debut album flopped. (Closing a circle, Sparks and Rundgren released the new song “Your Fandango” earlier this year.) They moved to England in 1973, after taking on the name Sparks.

That was the start of a crazy roller coaster career (including an appearance in the 1977 disaster movie flop “Rollercoaster”). The dramatic “This Town Ain’t Big Enough for Both of Us” reached No. 2 on the British charts in 1974. After hooking up with pioneering disco producer Giorgio Moroder, “The Number One Song in Heaven” (1979) was not only a huge club record, but also created a blueprint for dance-based electro-pop of acts like the Human League and New Order.

Sparks’ theatrical presentation, from their album covers to their stage production, added to the allure. “What really stuck with me,” Wright said, “is these two performers who were staring down the camera at you, in sharp contrast to a lot of acts who would smile — it was quite unnerving.”

Their most notorious signature is Ron’s mustache, alternately compared with that of Adolf Hitler or Charlie Chaplin. In Paul McCartney’s 1980 music video for “Coming Up,” in which he dresses as an array of rock stars from Buddy Holly to Frank Zappa, he appears behind a keyboard with Ron’s unmistakable scowl and facial hair.

Teaming up with Jane Wiedlin of the Go-Go’s, who was dating Russell at the time, Sparks had a genuine MTV hit in 1983 with “Cool Places.” By the time the lush, pulsing “When Do I Get to Sing ‘My Way’” was the top airplay record of 1994 in Germany, they were being accused of copying the artists they had inspired.

But most of these hits were followed with rapid musical left turns, as if the group was eager to shed any expectations that might come with popular success. In “The Sparks Brothers,” Ron says, “we think it’s important to do something that’s polarizing.”

Sometimes the results are gloriously weird (in “My Baby’s Taking Me Home,” the lyrics consist of the title phrase repeated more than 100 times), and sometimes they’re more confrontational: When a label executive suggested they make an album of music to dance to, they responded with a record titled “Music You Can Dance To” (the label dropped them), and when the idea of a project with the band Franz Ferdinand surfaced, the first song they sent to the other group was called “Collaborations Don’t Work.” (The resulting 2015 album, “FFS,” was a major critical success.)

Both Maels, though, deny that there’s anything willfully destructive in their musical choices. “Within pop music, within three-minute songs, the exciting thing is to see how you can reshape the formula and still come up with something provocative that hasn’t been done,” Russell said. “You’re always searching for that new thing you can impose on the givens of pop music — that’s when the change becomes something exciting, and not just because we want to say we’re chameleons all the time.”

The portrait that emerges in “The Sparks Brothers” is of musicians fully dedicated to their work — even in the years when Sparks didn’t have a record deal, the Maels continued to write and record with almost monastic discipline. “I don’t think it’s especially praiseworthy that even in those periods when things around us were kind of dire, we were working on the music,” Ron said. “There isn’t an alternative; that kind of work ethic is all that there is. At this point, we have an excuse and we could say we’re too old, but that’s a part of our DNA.”

Wright said this example of artistic commitment beyond the pursuit of commercial success is the true intention of the film. “I hope that for people with creative ambitions, the lesson that comes out is to stay true to your beliefs, because really it’s about the persistence of vision,” he said. “Especially in this climate when musicians are having the hardest time they’ve ever had, I hope the documentary shows a way to do it.”

Meanwhile, the Mael brothers have not slowed down. Last year, their album “A Steady Drip, Drip, Drip” became their fourth British Top 10 entry, and they plan to tour the United States, Europe and Japan in early 2022, alongside the release of a new album. They have a “very brash” sequel to “Annette” they will be pitching during the Cannes festival, and still hope to make an animated film of their 2010 radio musical, “The Seduction of Ingmar Bergman.”

The experience of “The Sparks Brothers” has given the perpetually evolving Sparks a different attitude about revisiting their life’s work.

“We’ve always said that we dispose of everything immediately after the moment,” Ron said. “But with this specific representation, we have to admit that perhaps some of those judgments were wrong. This way of presenting our legacy is the one way we want to be remembered.”

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Health

Taiwan Orders Some Tech Employees to Keep Indoors to Sort out an Outbreak

TAIPEI, Taiwan – Officials in a county in Taiwan face a storm of criticism after banning foreign workers from going outside to eradicate a cluster of coronavirus infections among workers at several technology manufacturers.

As part of the measures announced by authorities in the central Miaoli district last week, thousands of migrant workers, mostly from Vietnam and the Philippines, will be prevented from leaving their dormitories except to travel to and from their jobs in high-tech factories. Some workers expressed concerns that conditions in the cramped dormitories, where up to six people share a room, could further spread the virus.

Other workers who were in close contact with infected colleagues were confiscated in quarantine centers. In some of these facilities, activists said workers were served spoiled food or lack of running water.

The officials did not say how long the restrictions apply. At a press conference last week, Miaoli County Magistrate Hsu Yao-chang denied complaints from migrant workers.

“They tested positive and even died from the virus,” he said. “Why talk about human rights now?”

On Friday, Miaoli County reported 26 new infections, mostly among migrant workers, bringing the total number of confirmed cases related to the factories to more than 450, according to the Taiwan Centers for Disease Control. More than 300 packages were found at the hardest hit company, King Yuan Electronics, a semiconductor chip testing and packaging company.

Some workers said they understood the reasons for the restrictions, but argued that they were selecting foreign workers. Taiwanese workers, most of whom work as managers and supervisors in the factories, were allowed to come and go as they pleased, many foreign workers said.

“This is discrimination,” said John Ray Tallud, 29, a Filipino equipment engineer with King Yuan Electronics, in a telephone interview from his dormitory. “Local Taiwanese can go outside anytime.”

Throughout the pandemic, migrant workers were among the most vulnerable groups in the world. Singapore banned hundreds of thousands of low-paid foreign workers from leaving their dormitories for months after the major outbreaks last year. Rural laborers in the United States were considered indispensable and continued to work shoulder to shoulder in the fields, although many became infected.

Until recently, Taiwan was an exception – a covid-free island for most of the pandemic, with tight border controls making it difficult for companies to accept more migrant workers. As a result, union activists say the existing migrant workers – more than 700,000 workers, most from Southeast Asian countries – have gained bargaining power with their employers.

That changed with the recent outbreak. Advocates of migrant workers have criticized the Miaoli government for creating further fear and stigmatization of foreign workers. Many said the order exposed longstanding discrimination against workers who have become a vital, if largely invisible, pillar of the Taiwanese economy – especially its important high-tech industries.

“This is a clear case of injustice,” said Chang Cheng, founder of 4-Way Voice, a multilingual publication for migrant workers in Taiwan. “If we talk about Taiwan’s main industries, they couldn’t survive without these foreign workers.”

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Politics

Biden unable to succeed in settlement with Turkey’s Erdogan over Russian S-400

Russian S-400 missile battalions participate in tactical training to counter attacks of potential sabotage and reconnaissance groups. 

Vitaly Nevar | TASS via Getty Images

WASHINGTON – The Biden administration was unable to work out a resolution with Turkey following Ankara’s defiant purchase of a Russian weapons system, which the NATO alliance views as a security risk.

National security advisor Jake Sullivan told reporters Thursday on a call that President Joe Biden and Turkish President Recep Tayyip Erdogan discussed the 2017 multibillion-dollar weapons deal with Russia this week at NATO’s headquarters.

In December, the Trump administration slapped sanctions on Turkey, a NATO member, for buying the S-400 missile system in a confrontation not typically seen within the alliance.

“On the S-400, they discussed it. There was not a resolution of the issue. There was a commitment to continue the dialogue on the S-400,” Sullivan said, adding the Biden administration would have more to say on the matter after Washington and Ankara hold additional talks.

Turkish President Recep Tayyip Erdogan (L) and US President Joe Biden (R) hold a meeting at the NATO summit at the North Atlantic Treaty Organization (NATO) headquarters in Brussels, on June 14, 2021.

Murat Cetinmuhurdar | Anadolu Agency | Getty Images

During a NATO news conference, Erdogan said he had not changed his position on the S-400 despite having a “sincere” meeting with Biden.

Biden also said the meeting with Erdogan was productive, adding he was confident the U.S. will “make real progress with Turkey.”

Erdogan said Thursday that he told Biden to “not expect Turkey to take a different step on the F-35 and S-400 issues,” according to a report from Turkey’s state media.

“We must monitor developments closely. We will be following up on all our rights,” he said. “In the next period, our foreign ministers, defense ministers and defense industry chairs will be moving this process forward by meeting with their counterparts,” Erdogan added.

In multiple efforts to deter Turkey from buying Russia’s S-400 missile system, the State Department offered in 2013 and 2017 to sell the country Raytheon’s Patriot missile system. Ankara passed on the Patriot both times because the U.S. declined to provide a transfer of the system’s sensitive missile technology.

A F-35 fighter jet is seen as Turkey takes delivery of its first F-35 fighter jet with a ceremony at the Lockheed Martin in Forth Worth, Texas, United States on June 21, 2018.

Atilgan Ozdil | Anadolu Agency | Getty Images

Under the Countering America’s Adversaries Through Sanctions Act any foreign government working with the Russian defense sector will find itself in the crosshairs of U.S. economic sanctions.

Despite warnings from the United States and other NATO allies, Turkey accepted the first of four S-400 missile batteries from the Kremlin in July 2019.

A week later, the U.S. cut Turkey, a financial and manufacturing partner, from the F-35 program.

Due to Turkey’s removal from the F-35 program, U.S. defense giant Lockheed Martin offered the jets originally slated to join Ankara’s arsenal to other customers.

Correction: Erdogan said Thursday that he told Biden to “not expect Turkey to take a different step on the F-35 and S-400 issues,” according to a report from Turkey’s state media. An earlier version misstated the day.

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Health

U.S. officers push for extra Covid vaccinations as delta variant features

Travelers view Covid-19 results after being tested at JFK International Airport in New York on December 22, 2020.

Hit by Betancur | AFP | Getty Images

Federal health officials continue to urge more Americans to get vaccinated as the Delta variant accounts for a larger proportion of new cases in the United States.

“You need to get vaccinated to be protected from Covid-19, the Delta variant and any other variant that might come on the way,” said Jeffrey Zients, White House coordinator of the coronavirus response, Thursday.

The variant, first discovered by scientists in India, has now spread to more than 80 countries and accounts for more than 10% of new cases in the US, up from 6% last week.

“If you are vaccinated, you are protected, and if not, the threat of variants is real and growing,” said US Surgeon General Dr. Vivek Murthy in the briefing on Thursday after explaining that the Delta variant “is significantly more transferable and can be more dangerous than previous variants.”

The Centers for Disease Control and Prevention recently identified the Delta variant as a variant of concern “based on increasing evidence that the Delta variant spreads more easily and compared to other variants, including B.1.1.7 (Alpha) causing more severe cases. “

New cases and deaths are falling dramatically in the United States thanks to generally successful vaccination campaigns in many states. Some parts of the country are still seeing spikes in cases and hospital admissions.

“We see that communities with the highest vaccination rates have lower new cases and hospital admissions, and communities with the lowest vaccination rates have higher new cases and hospital admissions,” Zients said.

In the UK, the Delta variant recently became the dominant strain there, outperforming its native alpha variant, which was first discovered in the country last fall. The Delta variant now accounts for more than 60% of new cases in the UK

Dr. Anthony Fauci, chief medical advisor to President Joe Biden, said last week that “we cannot allow this to happen in the United States” when he urged more people, especially young adults, to be vaccinated.