Categories
World News

Dow futures rise as shares try to bounce again from shedding week

Traders work on the trading floor of the New York Stock Exchange.

NYSE

US stock futures rose early Monday as markets indicated a rebound from a lost week.

Investors are weighing updates on the introduction of the Covid-19 vaccine and the coronavirus stimulus stalemate in Washington

Dow futures indicated an opening gain of more than 180 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory.

Last week, stocks saw their first week of downturn in several months as lawmakers continued a stalemate over a Covid-19 bailout package.

The S&P 500 fell nearly 1% in its first negative week in three years. The Dow Jones Industrial Average lost 0.57% for its first negative week in three and the Nasdaq Composite lost nearly 0.7% for its first negative week in four.

Next week is expected to be market-moving with the launch of the Pfizer vaccine and a Federal Reserve policy meeting. Tesla is also joining the S&P 500 on Friday.

Following the Food and Drug Administration’s emergency approval for Pfizer’s vaccine, Center for Disease Control and Prevention Director Robert Redfield signed the drug so that vaccinations could officially continue for those aged 16 and over.

The US has started shipping the cans from a Pfizer facility in Michigan to hundreds of distribution centers around the country. The FDA is expected to publish its assessment of Moderna’s vaccine this week.

The Covid-19 vaccine launches on some of the darkest days of the pandemic in the United States. More than 2,300 coronavirus-related deaths were recorded on Saturday, after over 3,300 deaths on Friday. New infections keep exploding. More than 219,000 cases were reported on Saturday.

The surge in cases coincides with months of debates in Washington over another round of Covid relief. A non-partisan group has proposed a $ 908 billion limit. Sen. Majority Leader Mitch McConnell has opposed the proposal, instead calling for an agreement that eliminates corporate liability and funding provisions from state and local governments. These two issues are major sources of disagreement between Republicans and Democrats.

“Politically, the debate continues on more tax legislation that is badly needed for much of the population, but will also create an even bigger ‘wall of money’ for consumers when the economies are fully reopened,” said Raymond James’ Tavis McCourt towards customers on Sunday.

“It is very clear that the economy is slowing as the local stalemate persists, but the impact on the stock market has so far been limited. Whether this will continue through Q1 is unclear, but we expect withdrawals to be limited unless the vaccine changes significantly. ” History, “he added.

The Fed begins its two-day meeting on Tuesday, the last central bank meeting in 2020. Economists have speculated that the Fed might make changes to its bond program. The Fed is currently buying at least $ 80 billion a month from Treasuries, and Fed officials at their last meeting discussed what they could do to change that program.

Subscribe to CNBC PRO for exclusive insights and analysis as well as live business day programs from around the world.

Categories
World News

Russian Hackers Broke Into Federal Companies, U.S. Officers Suspect

According to investigators, the global campaign included the hackers who put their code into regular updates to software used by a company called SolarWinds to manage networks. Its products are widely used on corporate and federal networks, and the malware has been carefully minimized to avoid detection.

The Austin, Texas-based company says it has more than 300,000 customers, including most of the country’s Fortune 500 companies. However, it is unclear how many of them are using the Orion platform that the Russian hackers infiltrated or if they were all targets.

If the Russia connection is confirmed, it will be the subtlest known theft of American government data by Moscow since a two-year rampage in 2014 and 2015 that gave Russian intelligence agencies access to the unclassified email systems at the White House State Department and the joint chiefs of staff. It took years to undo the damage, but President Barack Obama decided at the time not to name the Russians as the perpetrators – a move many in his administration now see as a mistake.

Encouraged, the same group of hackers penetrated the systems of the Democratic National Committee and top officials in Hillary Clinton’s campaign, sparking investigations and fears that permeated both the 2016 and 2020 competitions. Another, more disruptive Russian intelligence agency, the GRU, is believed to be responsible for posting the hacked emails to the DNC

“There seems to be a lot of casualties to this campaign, both in government and in the private sector,” said Dmitri Alperovitch, chairman of Silverado Policy Accelerator, a geopolitical think tank that co-founded CrowdStrike, a cybersecurity company four years ago that helped Find Russians in the systems of the Democratic National Committee. “No different from what we saw from this actor in 2014-2015 when he ran a massive campaign and successfully compromised numerous victims.”

Russia was one of several countries that also hacked American research institutions and pharmaceutical companies. That summer, Symantec Corporation warned that a Russian ransomware group was taking advantage of the sudden change in American work habits caused by the pandemic and injecting code into corporate networks at unprecedented speeds and breadth.

According to private sector investigators, the attacks on FireEye resulted in a wider hunt to find out where else the Russian hackers would have been able to infiltrate both federal and private networks. According to official sources, FireEye provided the NSA and Microsoft with some critical pieces of computer code that were looking for similar attacks on federal systems. That led to the emergency warning last week.

Categories
World News

Tesla to switch Condominium Funding and Administration within the S&P 500

Tesla will replace Apartment Investment and Management Co. in the S&P 500 if the electric vehicle company joins the index before trading begins December 21, S&P told Dow Jones Indices on Friday.

Tesla is also included in the S&P 100, replacing Occidental Petroleum in that index.

S&P Dow Jones Indices announced on November 16 that Tesla would join the S&P 500. The size of Tesla – the largest company ever to be included in the benchmark index – prompted the index provider to seek feedback from the investment community on whether to add Tesla all at once or in two separate tranches.

S&P Dow Jones Indices eventually chose the former and announced on November 30th that it would add Tesla to its full float-adjusted market capitalization on December 21st.

“In making its decision, S&P DJI took into account the wide range of responses received, including the expected liquidity of Tesla and the market’s ability to absorb significant trading volumes that day,” said the index provider. Tesla’s inclusion in the S&P 500 is based on closing prices on Friday, December 18, which coincides with the expiration of stock options and stock futures, which should make it easy to add due to the high trading volume, S&P said.

S&P Dow Jones Indices has not yet announced the weighting of Tesla in the index.

There are currently over $ 11.2 trillion in net worth compared to the S&P 500, with roughly $ 4.6 trillion of the total indexed funds making up. This means significant portfolio adjustments will have to be made to make room for Tesla.

According to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, $ 80 billion in Tesla stock must be bought by index investors. He pointed out that trading volatility could be exacerbated by Tesla’s not being a member of the S&P 1500, S&P 400 Midcap, or S&P 600 Small Cap indices.

Fund managers who need to buy the index will try to buy Tesla as close to the December 18 closing price as possible. “It will likely be one of the largest tight buy markets ever,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group.

– CNBC’s Patti Domm contributed to the coverage.

Subscribe to CNBC PRO for exclusive insights and analysis as well as live business day programs from around the world.

Categories
World News

Brexit Commerce Talks Strategy Essential Deadline. Once more.

Mr Johnson and Ms von der Leyen were expected to speak again at lunchtime on Sunday to take stock of the negotiations and make a decision on how to proceed.

Europe’s two most powerful leaders, Chancellor Angela Merkel from Germany and President Emmanuel Macron from France, both refused to contact Mr Johnson directly, effectively denying him the opportunity to take advantage of divisions between the 27 members of the European Union.

As the likelihood of failure escalates, London and Brussels have implemented a mixture of pointing and contingency planning. Mr Johnson met with Michael Gove, the UK Minister in charge of preparing for a no-deal Brexit. Plans include using Navy patrol vessels to stop foreign ships attempting to enter the Exclusive Economic Zone, which extends 200 miles from the UK coast.

The prospect of a military confrontation between British and French ships on the high seas sparked alarms and fierce criticism in Britain, even among members of the Conservative Party establishment.

“This is no longer Elizabethan time. This is the global UK, ”Tobias Ellwood, chairman of the House of Commons Defense Committee, told the BBC. “We have to raise the bar much higher.” Failure to reach a trade deal, Ellwood said, “would be a backward step, a failure of statecraft.”

Chris Patten, former Conservative Party leader and Hong Kong Governor from 1992 to 1997, accused Mr Johnson of being on a “runaway train of the British State of Emergency”. The Prime Minister is “not a conservative” who feels obliged to alliances, institutions or the rule of law, but an “English nationalist”.

Analysts said they haven’t given up hope of a last-minute deal. Mr Johnson and his advisors would still prefer a deal, as would the leaders of the European Union. Sunday was the last of several deadlines set by both sides. The talks could easily extend beyond that until New Year’s Eve.

Still, the UK’s strategy of waiting until the end of the negotiation phase and then pushing for bigger concessions seems to have failed. The French-led European negotiators were determined on the issue of fishing rights, as well as another controversial area: state aid to industry and competition rules.

Mr Johnson has described the UK campaign as an assertion of his sovereignty after leaving the European Union. The diplomats pointed out, however, that European officials have a similarly strong principle: defending the integrity of the internal market from a new competitor on their doorstep.

“What Britain has never understood is that the European Union is a political project,” said Kim Darroch, who served as Britain’s permanent representative to the European Union and later as ambassador to Washington. “You will make decisions based on political, not economic, considerations.”

Categories
World News

Biden’s greatest course for actual Mideast good points is to spend money on Trump’s Abraham Accords

Imagine President-elect Biden faced with two doors that represent the Middle East dilemma he is facing. What he chooses will color his administration and have a historical impact on the most booby-trapped region of the world.

One door is marked “Return to Obama’s Iran Nuclear Deal”.

The other is called “Build On Trump’s Abraham Accord”.

The literature is littered with confusing two-door parables and allegories, from Jesus’ Sermon on the Mount, where the choice is between the wider or the narrower and more difficult road, to Frank R. Stockton’s 1882 short story, “The Lady, or the Tiger?” where two soundproof doors lay in front of the king’s daughter’s lover.

As with most of these stories, there are dangers in every path.

Democratic party politics and election promises suggest that President-elect Biden is swiftly moving towards a return to the nuclear deal known as the JCPOA, a signature achievement for the man who selected him as vice president. President Trump pulled out of the deal in May 2018 after calling it “the worst deal ever”.

The smarter way would be to slowly, carefully, and fearfully move towards the door of Iran and see how much has changed in the Middle East in the four years since President Obama’s departure.

The Obama deal, never blessed by Congressional votes, failed to address Iran’s regional misconduct or its development of ballistic missiles and advanced arms supplies that left negotiators for a later day.

But it is precisely these Iranian advances that were shown in the Iranian cruise missile and drone strikes on Saudi oil fields in September 2019 and the ballistic missile strikes on US military positions in Iraq on January 8, 2020 in response to the drone attack that killed the Iranian General Qasem Solemani five days earlier.

Furthermore, in the run-up to its June elections, today’s Iran is unlikely to revert to its earlier deal, in which hardliners are determined to further marginalize so-called moderates. After the Iranian leaders accumulate more enriched uranium and install more advanced centrifuges than JCPOA allows, they won’t be giving up those gains so easily.

As much as they want the economic sanctions against them to be relaxed, the Iranian hardliners also want more: compensation for everything they have lost economically in the last four years due to renewed US sanctions. What is unspoken is that they have more time each day to develop their nuclear capabilities, either as leverage for future talks or to make the outbreak of their nuclear weapons inevitable.

The November 27 assassination of the country’s best nuclear scientist in Iran, who blamed Israel and the US for the country, has further fueled tensions and requires some response. In a sign of the hardening mood in Iran, the government only today executed the dissident Iranian journalist Ruhollah Zam.

So there is no easy way to get good business. President Biden is unlikely to provide the quick relief and compensation Iran has requested. Iran is unlikely to revert to the constraints of the deal unless it gets what it wants, and until then it will not address issues outside of the existing deal that have become more pressing.

That leaves door number two.

This is the one that President-elect Biden should go through once he takes office. President-elect Biden himself has pointed out that this could be the only foreign policy achievement by Trump he wants to build on.

President-elect Biden praised the campaign deals before they were signed by leaders from Bahrain, Israel and the United Arab Emirates in the White House in September. Morocco joined the US-brokered deal with Israel this week after Sudan did so in October.

As Axios reported this week, President-elect Biden could capitalize on this Arab-Israeli dynamic of the agreements, but he would do it differently from Trump.

“He wants to use this dynamic to reflect a positive dynamic in the Israeli-Palestinian agreement,” said Dan Shapiro, the former US ambassador to Israel under Obama.

Most important is Saudi Arabia. Conventional wisdom has it that President-elect Biden, who has announced that he will reassess relations with Riyadh, will create greater distance and focus on remaining human rights abuses in Saudi Arabia.

But here, too, Riyadh has a voice.

Should King Abdullah and Crown Prince Mohammed Bin Salman act to release the high profile women’s rights activists who remain in prison, they should fix relations with Qatar to end a three-year confrontation through continued Kuwaiti moderation, and should they further liberalize relations with Israel the atmosphere will improve significantly.

The October 2018 assassination of journalist Jamal Khashoggi by Saudi government agents remains a toxic barrier, but Riyadh has the potential to dramatically change that context.

Just as the UAE used its agreement with Israel to stop Israel’s annexation of the West Bank, a Saudi deal to include the agreements under a Biden government could be linked to the two-state solution with the Palestinians.

There is a bigger reason for President-elect Biden to choose door number two, and that is the foundation for institutional and strategic change in the Middle East.

The neglected seventh paragraph of the Abrahamic Convention states: “The contracting parties are ready to join forces with the United States to develop and initiate a ‘Strategic Agenda for the Middle East’ to promote regional diplomacy, to develop trade, stability and other collaborations. ”

Add Egypt and Jordan, countries that already have peace deals with Israel, and there is a chance of a modernist, moderate coalition of countries in the Middle East that focuses on future opportunities rather than settling old points.

On this basis, one could promote the kind of economic and security institutions and integration that unleash European potential after World War II. To date, these institutions have not achieved the “Europe whole and free” that was President George HW Bush’s dream, and Russia and others stayed outside.

However, no one could argue that Europe would have been better off without partial solutions.

There is also an urgent need to provide an alternative strategic future offered by Iran, Turkey, Russia and China. Better still, if this strategic change goes hand in hand with an expansion of individual freedoms, an improvement in opportunities for young people and women and a reduction in interreligious tensions.

The more these changes bring personal and economic opportunities in the region, the more the Iranian people will want to benefit from them.

Back to the two-door position of President-elect Biden, the best way to improve his chances of finding a lasting Iranian solution could be through the back door of the Abraham Agreement.

Frederick Kempe is a best-selling author, award-winning journalist, and President and CEO of the Atlantic Council, one of the United States’ most influential think tanks on global affairs. He worked for the Wall Street Journal for more than 25 years as a foreign correspondent, assistant editor-in-chief and senior editor for the European edition of the newspaper. His latest book – “Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth” – was a New York Times best seller and has been published in more than a dozen languages. Follow him on Twitter @FredKempe and subscribe here to Inflection Points, his view every Saturday of the top stories and trends of the past week.

More information from CNBC staff can be found here @ CNBCopinion on twitter.

Categories
World News

A German-Vietnamese social media star dies at 29, and different information from around the globe.

Brittanya Karma posted her bucket list on Instagram last year.

Featured in a magazine? Check. Appear on German television? Check. Appear on Vietnamese television? Check. Got a million views on Facebook? Check.

The number of ticks on the list is a testament to the abundance of her short life. Ms. Karma, a Vietnamese-German rapper and reality television star, died on November 29th in Hamburg, where she was born and where she lived. She was 29. The cause was complications from Covid-19, her agent said.

Recognition…Brittanya Karma

Ms. Karma was first noticed a few years ago when a Facebook post in Vietnamese language gently mocking her mother went viral and got more than a million clicks. She quickly gained a Vietnamese following by describing her life in Germany and speaking out against physical embarrassment. She soon added a YouTube channel and Instagram account. Two years ago she opened a TikTok account with her fiancé Eugene Osei Henebeng, who goes by the name of Manu.

Ms. Karma used her YouTube channel to communicate with her many Vietnamese followers and her TikTok to speak to her German fans. In the videos she posted on these channels as well as on Instagram and Facebook, she told stories, joked or danced around the house with Manu during this year’s lockdowns.

“Confidence is my superpower,” she said in one of her TikTok videos.

Categories
World News

Trump indicators funding invoice amid Covid reduction push

President Donald Trump signed a week-long government funding extension Friday as Congress rushed to secure coronavirus spending and relief.

The Senate passed the measure in a vote earlier in the day, and the House approved it this week. Funding would have expired on Saturday if Washington hadn’t passed a spending plan.

The law will fund the government until December 18th. Congressional leaders hope to have both a year-round funding package and pandemic aid approved by then. You have tried to reach an agreement on both fronts.

The appropriators have agreed on a $ 1.4 trillion price for the legislation to keep the government running through September 30, 2021. However, they have not agreed on exactly where the money should go.

Despite the most frantic effort in months to develop a coronavirus bailout, Congress must resolve several major disputes to reach an agreement. Millions of Americans await help as an uncontrolled outbreak ravages communities across the country, creating hunger that has not been seen for years.

If the legislature cannot pass relief laws in the coming days, around 12 million people will lose unemployment benefits the day after Christmas. An eviction moratorium and provisions for family leave introduced at the beginning of this year will also expire at the end of December.

Two senators, the independent Vermont-based Bernie Sanders and the Missouri Republican Josh Hawley, threatened to block the spending measure when they urged Congress to send more aid to Americans. Legislators wanted to vote on a proposal to send another direct payment of up to $ 1,200 for individuals and $ 500 per child.

Sanders said he decided not to object to government funding on Friday but would do so next week if Congress didn’t seek more relief.

“We are more hungry in America today than ever before in the modern history of this country,” said the senator when pressing for direct payments.

For months, Congress failed to provide more aid to Americans, despite ongoing health and economic crises. A GOP-backed proposal to give businesses immunity from coronavirus-related lawsuits and a plan to send more aid to state and local governments backed by Democrats and many Republicans remain the biggest sticking points in reaching a settlement .

Democrats have also criticized the fact that the recent $ 916 billion aid offer from the White House, blessed by GOP congressional leaders, does not include additional federal unemployment insurance funds. It has a direct payment of $ 600, half the total of the March stimulus checks approved by Congress.

Democrats have put their weight behind a $ 908 billion package put together by a non-partisan group. The measure would include unemployment benefit of $ 300 per week but no direct payments.

Subscribe to CNBC on YouTube.

Categories
World News

A Vaccine Is on Its Technique to Canada. Who Will Get It First?

When a polio vaccine was announced in 1953, the CBC reported that in Canada “the response was the same as at the end of a terrible war”. The 13,109 Canadians the Covid-19 has killed, the hundreds of thousands it has made sick, and the economic turmoil it has brought to the nation also appear to be the toll of battle. The vaccine approved by Canada this week also appeared to be a truce, if not a truce. The first shipment of the vaccine, made by the American company Pfizer and a German company, BioNTech, is expected to be on the way this weekend, and the first vaccinations could be given as early as Tuesday. Initial quantities will be small compared to the millions of cans expected to arrive in the New Year, making the first cans more of a starter than a rollout.

[Read: Canada Approves Vaccine and Could Start Shots Next Week]

Everything that has to do with the vaccine depends of course on who gets it and when. Or, as one journalist told officials during one of the vaccine approval press conferences, “How can you make sure this isn’t like The Hunger Games of vaccines?”

The province decides who gets the shots first. However, a federal body has drawn up a list of recommendations for selecting first recipients, a list of candidates, which limits officials to four groups: people over 80; Residents of nursing homes, a group that accounts for 71 percent of deaths so far, and the workers who serve them; Health care workers; and indigenous communities.

For the first few thousand cans that are on the way, plans vary by province. Quebec will focus on nursing homes while Saskatchewan will initially inject health care workers.

In the three areas – the Northwest Areas, Nunavut, and Yukon – no one will receive the Pfizer BioNTech vaccine anytime soon. Instead, governments in the far north have decided to wait for Moderna’s vaccine, which is nearing approval and will be easier to use, said Dr. Howard Njoo, the country’s deputy chief public health officer. It doesn’t require the extremely low temperatures that the Pfizer BioNTech vaccine provides.

Children also won’t get the Pfizer BioNTech vaccine right away. It is only approved for use by people aged 16 and over.

Dr. Njoo warned that decision-making would not end after officials determined which groups would receive them first. You may need to decide whether it makes sense to initially only vaccinate people who live in the cities where the 14 centers where the vaccine is delivered are located. Each province has at least one center, with two each in Ontario and Quebec, but none in rural areas.

“If you want to vaccinate health workers, where do you start?” Dr. Njoo asked at a press conference this week. “Could it be easier and more practical to do this in a facility in an urban setting? Not to say that health care workers who provide health care and direct health care in a remote or rural setting are not so important. “

Regardless of what decisions the provinces ultimately make, the plan is to only vaccinate people from the groups with the highest priority by the end of March. During this time, the federal government expects four million doses of Pfizer and, if approved, two million doses of Moderna’s vaccine. Until then, governments will have to figure out how to deal with the remaining 35 million Canadians.

It has been widely established that both the Pfizer BioNTech and Moderna vaccines use radically new technology. My colleagues Jonathan Corum and Carl Zimmer have prepared definitive guides to help understand both.

[Read: How the Pfizer-BioNTech Vaccine Works]

[Read: How Moderna’s Vaccine Works]

  • Fifty years have passed since the October Crisis was sparked by the kidnapping of UK Trade Commissioner James Cross and the kidnapping and murder of Quebec Deputy Prime Minister Pierre Laporte. Dan Bilefsky reports that a film made by the son of a leader of the FLQ, the violent extremist group that carried out the attacks, was a success and at the same time “underscores the sensitivity of the events of the time.”

  • On another grim anniversary, two years have passed since the Chinese government arrested Canadians Michael Kovrig and Michael Spavor. In their reporting, Javier C. Hernández and Dan noted that the two men “have now become symbols of the aftermath of Beijing’s increasingly aggressive foreign policy and that their fate is apparently intertwined with the future of China’s turbulent relations with Canada and the United States.” .

  • Catherine Porter reports that Christmas broke early in pandemic Canada and Christmas trees have become scarce in some communities.

  • After publishing an annual report on the Arctic, a climate specialist told Henry Fountain, who reports on climate problems for The Times, that “almost everything in the Arctic, from ice and snow to human activity, changes so rapidly that none.” there is reason to believe that in 30 years much will be as it is today. “

  • Lynn Marchessault set off from Georgia with her two children, two dogs, and a cat to reunite 6,000 kilometers with her husband, a US Army sergeant stationed in Fairbanks, Alaska. Snow turned the passage through western Canada into a nightmare. She was about to give up when Gary Bath, a Canadian veteran, came to the rescue.

  • A United States-appointed committee of 19 experts in medicine and other fields has concluded that the mysterious disease affecting American and Canadian diplomats known as Havana Syndrome is likely caused by “directional, pulsed radio frequency energy.” has been.

  • The Trump administration is on its way out, but is using the trade deal that NAFTA replaced to challenge Canada’s dairy supply management system, says Ana Swanson.

  • Fred Sasakamoose, who died at the age of 86, played only 11 games in the NHL but became a hero of the indigenous people and spent decades mentoring and encouraging young First Nations players.

  • As Pat Patterson, Montreal native Pierre Clermont played the villain in countless wrestling matches before becoming an executive in the wrestling world. In 2014, he announced that he was gay and breaking a barrier in that community. Mr. Patterson died last week at the age of 79.

Ian Austen is from Windsor, Ontario. He was trained in Toronto, lives in Ottawa and has been reporting on Canada for the New York Times for 16 years. Follow him on Twitter @ianrausten.

We look forward to your thoughts on this newsletter and on events in Canada in general. Please send them to nytcanada@nytimes.com.

Forward it to your friends and let them know they can sign up here.

Categories
World News

White Home threatens to fireplace FDA chief until Covid vaccine OKed Friday: experiences

US President Donald Trump and Stephen Hahn, Director of the Food and Drug Administration, attend the daily meeting of the coronavirus task force at the White House in Washington, DC on April 24, 2020.

Drew Angerer | Getty Images

White House chief of staff, Mark Meadows, has urged the head of the Food and Drug Administration to resign if the agency does not clear Pfizer’s coronavirus vaccine for emergency use by the end of the day, the Washington Post reported on Friday.

The warning prompted FDA Commissioner Stephen Hahn and the agency to accelerate their schedule for the release of America’s first Covid-19 vaccine from Saturday morning to late Friday, according to the Post, citing anonymous sources.

The New York Times, Axios, and Reuters also reported that Meadows urged Hahn to resign if he wasn’t quick enough to remove the vaccine.

In a statement, Hahn called the Post’s report “an untrue account”.

“This is an untrue representation of the telephone conversation with the chief of staff,” Hahn told CNBC on Friday afternoon. “The FDA has been encouraged to continue working swiftly on Pfizer-BioNTech’s EEA request. The FDA is committed to swiftly granting this approval, as we noted in our statement this morning.”

The White House did not immediately respond to CNBC’s request for comment.

The reports come a day after a key FDA advisory body voted 17-4, with one abstention, to recommend the vaccine, which Pfizer partnered with BioNTech, for emergency approval. The FDA typically follows the recommendations of the Advisory Committee on Vaccines and Related Biological Products. After the overwhelming vote, the FDA should release the vaccine on Friday.

Hahn said earlier that day the agency was “working fast” to clear Pfizer’s emergency vaccine. “The agency has also notified the US Centers for Disease Control, Prevention and Operation Warp Speed ​​so they can implement their plans for timely vaccine distribution,” Hahn said in a joint statement with Dr. Peter Marks, director of the FDA Center for Biologics Evaluation and Research.

Shortly after Hahn ’s remarks, President Donald Trump, who has repeatedly urged the FDA to speed up the vaccine development process, tweeted the agency,” Get the dam vaccines out NOW. “

“Stop playing and save lives !!!”

FDA approval would mark a record-breaking timeframe for a process that typically takes about a decade. The fastest vaccine development to date against mumps took more than four years and was licensed in 1967. Pfizer and BioNTech announced plans to develop a coronavirus vaccine in March and filed an emergency clearance application with the FDA in November.

An emergency permit, or EEA, is not the same as a full permit, which can typically take months. Pfizer has only submitted safety data for two months, but it typically takes the agency six months for full approval.

– CNBC’s Amanda Macias contributed to this report.

Categories
World News

Vote to Legalize Abortion Passes Decrease Home of Argentine Congress

BUENOS AIRES – Argentine lawmakers took an important step on Friday to legalize abortion and fulfill a promise made by President Alberto Fernández that made women’s rights a central tenet of his government.

The approval of the law in the Argentine lower house of Congress by 131 votes to 117 after more than 20 hours of debate was a legislative victory for Mr Fernández, who has provided funds and political capital to improve conditions for women as well as for gays and transgender people, even if Argentina grappling with the greatest financial crisis of a generation. The law would have to go through the Senate to officially legalize abortion in the country.

“It’s a wrong dilemma to say it’s one way or the other,” said Elizabeth Gómez Alcorta, Argentina’s Minister for Women, Gender and Diversity. “It’s not like stopping renegotiating the debt to pursue this policy.”

Argentina would be only the fourth nation – and by far the most populous – to legalize abortion in Latin America, where strict abortion laws are the norm and Catholic doctrine has long guided politics.

Thousands of activists on both sides of the issue surrounded Congress on giant screens from Thursday evening to Friday morning after the debate.

They have been divided into clearly identified areas depending on their position. On the one hand, abortion lawyers turned their area into an open air party that danced through much of the hot summer night.

“I have goosebumps,” said Stefanía Gras, a 22-year-old psychology student who stayed overnight, after the vote. “I feel like we’re making history.”

Another, particularly smaller, group opposed to legalization held open-air prayers all night, though most realized that the bill would likely be passed when the morning light crept across the sky.

“I’m deeply saddened,” said Paloma Guevara, a 24-year-old nutritionist who had a megaphone and gathered all night with anti-abortion activists. “Our hope now is the Senate, and the good thing is we’re better prepared than we were two years ago.”

Center-left professor of law, Mr Fernández, stood up as an advocate of marginalized communities, contrasting with his wealthy mid-right predecessor Mauricio Macri. He placed the inequality between gender and sexual orientation alongside social, economic and racial inequality and promised to eliminate them.

But he took office a year ago during a deep recession, and the coronavirus epidemic hit Argentina within three months of he was sworn in. The country imposed one of the longest and strictest lockdowns in the world, but the virus was still spreading, leaving it among the nations with the highest per capita death rates.

Despite these difficulties, 61-year-old Fernandez considered gender and sexual orientation to be a priority in his government and even surprised some activists who had joined his initiatives.

Earlier this year the government put in place a quota system that reserves at least one percent of federal public jobs for transgender Argentines.

“It was really something that surprised us all,” said Maryanne Lettieri, an English teacher who runs an organization that helps other transgender people find work. “I hope one day we don’t need quotas, but now we need them.”

Fernández’s 2021 budget foresees more than 15 percent of planned spending on initiatives that promote gender equality, including funding violence prevention programs, the inclusion of women who were not part of the formal workforce in the pension system and combating the Human trafficking.

Mr. Fernández has also asked his team not to schedule meetings that only include straight men. As of August, an audience of more than four people with the President should have women or members of the LGBTQ community making up a third of the attendees.

The emphasis on making Argentina fairer while the nation grapples with inflation, rising poverty, and oppressive debt may seem like a diversion or a populist ploy from Mr Fernández to some. Some critics, such as Patricia Bullrich, a former security minister who now heads Mr Macri’s PRO party, have argued that at least “it is not the right time” to discuss issues such as abortion.

“I would work a lot more on economics and people’s realities,” she said on CNN Radio Argentina. “I would have other priorities.”

However, government officials say they see investing in creating a more equitable country in Argentina as part of the path to a more prosperous future.

Updated

Dec. 11, 2020 at 9:29 am ET

“More equality and access to opportunities are part of the vision we are pursuing in this government,” said Economics Minister Martín Guzmán.

The abortion law, which would make it legal to terminate pregnancies up to 14 weeks, is the most famous and controversial part of this plan.

Abortion in Argentina is only allowed in the event of rape or if the pregnancy poses a risk to the mother’s health. In practice, doctors, especially in rural areas, are often reluctant to perform legal abortions for fear of legal repercussions.

According to a report by the Argentine Network for Access to Safe Abortion, at least 65 women died as a result of abortions between 2016 and 2018. During the same period, 7,262 girls between 10 and 14 years of age gave birth.

Argentina would have legalized abortion in 2018, despite loud protests from the churches and the Argentine Pope Francis. Mr Macri, who was president at the time, said he was against the measure but urged Allied lawmakers to choose their conscience.

Fernández contrasted sharply with his predecessor and conspicuously submitted the bill to Congress last month. He wore a striking green tie, the color representing efforts to legalize abortion.

“I am convinced that it is the responsibility of the state to look after the life and health of those who decide to terminate their pregnancy,” Fernández said in a video posted on Twitter.

In doing so, he fulfilled an election promise that some reproductive rights activists feared they would be lost in the face of the heavy toll the coronavirus and economic crisis have wreaked on Argentina. The bill was revealed when Mr. Fernández’s team struggled to renegotiate the $ 44 billion debt with the International Monetary Fund and reopen a paralyzed economy.

Political analysts saw the approval of the abortion law in the Argentine lower house of Congress, where most lawmakers clarified their position before the debate began, as a concluded agreement. The biggest hurdle for abortion lawyers will be in the Senate, where the measure narrowly failed in 2018 after strong resistance from the senators of the rural provinces, where the Roman Catholic and Protestant churches have a greater influence.

Despite the loss, massive mobilization ahead of the 2018 vote, especially by young women, has spurred a new generation of feminists in Argentina, who have taken to the streets in large numbers to advocate legal abortion and wider representation to use.

Legalizing abortion would meet one of the main demands of this movement and would bring Mr Fernández his biggest legislative victory, which would give further impetus to a national project that has already begun to transform Argentina.

Because the pandemic hit women particularly hard, making them the majority of the newly unemployed, Argentina led the way as the country that has taken the most gender-based measures to respond to the crisis, according to a United Nations Development Database.

“In Argentina, the pandemic has fully exposed the inequality between men and women,” said Mercedes D’Alessandro, who heads the gender equality department at the Ministry of Economic Affairs. “Even in such an unfavorable context, this agenda has evolved.”

Argentina’s increased focus on gender equality comes at a time when other countries in the region are also ensuring that women have a voice in government decisions.

In neighboring Chile, for example, voters approved a referendum in November to draft a new constitution, which also called for gender equality among delegates to the constitutional convention. This makes the country the first in the world to have a charter drawn up by equal numbers of men and women.

Yet few measures are likely to have such a regional impact as if Argentina legalized abortion together with Cuba, Uruguay and Guyana.