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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.”

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Health

Wall Road is flawed to be bullish on European shares, strategist says

A photo taken on December 29, 2020 shows the skyline of Frankfurt am Main, western Germany, with (RtoL) the Frankfurt Cathedral, the Main Tower with the Helabas head office, and the Commerzbank Tower.

DANIEL ROLAND | AFP | Getty Images

LONDON — Not everyone is bullish on Europe for the remainder of the year.

Peter Toogood, chief investment officer at financial services firm Embark Group, believes European stocks may well keep pace with U.S. stocks in the coming months, but that’s not to say he shares Wall Street’s optimism for the region.

Analysts at Morgan Stanley say Europe is well-placed to outperform all major regions this year for the first time in more than two decades. The investment bank believes U.S. markets are likely to be “choppier” in the months ahead, citing rising inflation, growing pressure on profit margins and a possible slowing of quantitative easing.

Meanwhile, there is a “compelling” case for Europe to be the best-performing region due to attractive valuations, stronger earnings-per-share growth and the launch of the EU’s massive post-Covid recovery fund.

Separately, analysts at Goldman Sachs have identified “inexpensive” stocks in Europe for the rest of the year, while JPMorgan has named “cheap” stocks to buy in the region if the market dips.

When asked whether he agreed with the view that European equities could soon decouple from the U.S., Toogood told CNBC’s “Squawk Box Europe” on Friday: “No I don’t … I’m not buying it this time.”

“I’ll happily acknowledge that we’ll keep up … There’s going to be a Covid bounce, notionally, they are getting their act together, there is the recovery coming but it is going to be very late. We are going to be into the autumn and winter soon where I’m sorry (but) Covid is not going to go away,” he continued.

“So, no, I’m not buying it. I think they have come too late to the party in terms of the vaccines; very sadly, and therefore the recovery is delayed,” Toogood said.

To date, around 33% of EU citizens have received at least one dose of a Covid vaccine, according to statistics compiled by Our World in Data. By contrast, nearly 48% of the U.S. population has received at least one vaccine dose.

‘What are you buying when you buy in Europe?’

The International Monetary Fund said last month that Europe’s economic recovery from the coronavirus pandemic was on track to return to pre-crisis levels in 2022. The forecast was conditional on the region’s Covid-19 vaccine campaign, and as uncertainty persists over how the health crisis will evolve.

“I think the second problem remains: What are you buying when you buy Europe?” Toogood said, noting possible exceptions in the region among some “very strong” consumer brands.

“The banking sector? No, not really. I don’t see interest rates going anywhere in Europe for a very long time and they’ve been withdrawing globally, if anything. Most of the Europeans, in terms of banks and activities, are heading inward.”

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“There’s a massive discount gap but that’s because a lot of the stocks in the U.S. are priced more highly because they simply grow better. There are no FAANGs in Europe I’m afraid,” he continued, referring to the acronym for Facebook, Amazon, Apple, Netflix and Google-parent Alphabet.

“So, there is trouble for the indices in Europe and the U.K. … That’s the reality. We haven’t got the disruptors and we don’t have the exciting industries. It’s Asia and America where that action sits,” Toogood said.

— CNBC’s Lucy Handley contributed to this report.

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Business

European Tremendous League getting ready to collapse after condemnation

LONDON, ENGLAND – APRIL 20: Fans hold banners against Chelsea signing up for the newly proposed European Super League ahead of the Premier League game between Chelsea and Brighton & Hove Albion at Stamford Bridge on April 20, 2021 in London, England .

Chloe Knott – Danehouse | Getty Images Sports | Getty Images

LONDON – Plans for a breakaway elite football league in Europe have already disintegrated after widespread criticism and even threats of government interference.

The European Super League announced on Sunday is intended to keep up with the UEFA Champions League format, which is currently Europe’s best annual club competition.

Twelve of the richest teams in Europe signed up to be founding members of the new league, and JPMorgan backed them with $ 6 billion in debt funding.

However, the move sparked outrage from lawmakers, governing bodies, former players, fans, managers and experts, and many were concerned about the impact it would have on the structure of national competitions.

Many see it as a cynical and highly controversial project as the permanent members of the league could not be relegated.

Chelsea were the first club to signal Tuesday night that it was a jump ship. Fans protested the plans in front of the stadium in west London ahead of a Premier League match. Manchester City quickly followed suit with official confirmation of their withdrawal, and a few hours later England’s other four clubs withdrew.

UEFA President Aleksander Ceferin condemned the project and called it a “spit in the face” of all football fans. Meanwhile, British Prime Minister Boris Johnson vowed to “thwart” it and likened it to a “cartel”.

The teams that initially agreed to play in the ESL included:

  • England: Manchester United, Manchester City, Liverpool, Tottenham, Chelsea and Arsenal.
  • Spain: Barcelona, ​​Real Madrid and Atletico Madrid.
  • Italy: Juventus, AC Milan and Inter Milan.

On Monday evening, European Super League chairman Florentino Perez said plans to form the new runaway elite competition were designed to “save football”.

He defended himself against widespread criticism by claiming that changes were necessary because young people were “no longer interested in the sport”.

– CNBC’s Sam Shead and Sam Meredith contributed to this article.

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Business

European Tremendous League met with widespread fury

SALFORD, ENGLAND – MARCH 16: Salford City co-owner Gary Neville oversees the Sky Bet League Two game between Salford City and Colchester United at Moor Lane on March 16, 2021 in Salford, England. Sports stadiums across the UK remain tightly restricted due to the coronavirus pandemic as government social distancing laws ban fans in venues, resulting in games being played behind closed doors. (Photo by James Gill – Danehouse / Getty Images)

James Gill – Danehouse | Getty Images Sports | Getty Images

LONDON – A new breakaway football competition known as the European Super League has received widespread criticism and opposition from former players, politicians, governing bodies, experts and fans.

The ESL, announced on Sunday, should keep up with the UEFA Champions League format, which is currently Europe’s best annual club competition.

Twelve of Europe’s richest teams have signed up to be founding members of the new league, and JPMorgan has provided $ 6 billion in debt funding.

Teams that have agreed to play in the league are as follows:

  • England: Manchester United, Manchester City, Liverpool, Tottenham, Chelsea and Arsenal.
  • Spain: Barcelona, ​​Real Madrid and Atletico Madrid.
  • Italy: Juventus, AC Milan and Inter Milan.

“I’m disgusted … utterly disgusted,” said Gary Neville, a former Manchester United defender, regarding the Super League during an interview on Sky Sports News on Sunday.

Notable absences at ESL include French Paris Saint Germain and German Bayern Munich. However, three more teams will join the league ahead of the inaugural season, which will take place “as soon as it becomes practical”.

The ESL will eventually have 20 clubs and 15 of them will be permanent which means they cannot be relegated. This is controversial as teams currently have to qualify for the Champions League every year and can be promoted and relegated from the English Premier League, Spanish La Liga and Italian Serie A.

Real Madrid president Florentino Perez has been named the first chairman of the Super League.

“We will help football at all levels and bring it to its rightful place in the world,” Perez said in a statement on Sunday. “Football is the only global sport with more than 4 billion fans. As large clubs, we are responsible for responding to your wishes.”

The already wealthy founding teams of ESL will receive a total of 3.5 billion euros for infrastructure investments. According to The Financial Times, they will receive a welcome bonus of up to EUR 300 million each for joining the Super League.

At the same time, they plan to keep playing and making money in their existing leagues where some other clubs have struggled to stay in business.

New York-listed shares of Manchester United rose 8% in the pre-market due to the ESL announcement, while Juventus shares in Italy rose nearly 14%.

“Anti-Soccer Pyramid Scheme”

“If the fans are one against this anti-football pyramid scheme, it can be stopped,” said former English striker Gary Lineker, who is now presenting the BBC’s “Match of the Day” TV highlights.

Neville, now an expert and commentator on Sky Sports News, said he was particularly “disgusted” with Manchester United and Liverpool, which have long had close ties to the working-class communities that surround their northern England grounds.

“You’re leaving in an unrivaled league that you can’t relegate from,” said Neville. “We have to take back power in this country from the clubs at the top of this league, and that includes my club.”

The billionaire owners of the clubs who signed up as part of the ESL have been accused of being greedy.

“They have nothing to do with football in this country,” said Neville. “There is more than 100 years of history in this country of fans who have lived and loved these clubs and who need to be protected.”

An independent regulator should be put in place to ensure checks and balances are maintained in the English Premier League, he added.

Liverpool fan Tom Cook told CNBC: “It is transforming football into a US sports model where there is no relegation / promotion and the biggest teams control the broadcast rights.”

As a result, they are “getting richer and richer – with a questionable amount of that wealth supposedly trickling down the football pyramid,” added Cook.

UEFA is fighting back

UEFA said in a statement on Sunday that it is united with the top European leagues in its “efforts to stop this cynical project. This project is based on the self-interest of some clubs at a time when society is more than ever Solidarity needs. ” “”

It added: “We will look at all the measures available to us at all levels, both in the judiciary and in sport, to prevent this from happening. Football is based on open competition and athletic merit; it cannot be otherwise.”

The ESL was announced the day before the plans for an expanded and restructured Champions League were signed by UEFA. Planned changes reportedly include 100 more games per season and more financial ties between top clubs.

French President Emmanuel Macron said on Sunday he supported the position of the European football association UEFA in rejecting the prospect of a breakaway Super League.

“The President of the Republic welcomes the position of French clubs to refuse to participate in a European Super League football project that threatens the principle of solidarity and sporting merit,” the French Presidency said in a statement sent to Reuters.

“The French state will support all steps taken by the LFP, the FFF, UEFA and FIFA to protect the integrity of national or European federal competitions,” added the Elysee, referring to the national, European and global governing bodies for football.

British Prime Minister Boris Johnson wrote on Twitter that the Super League “would be very harmful to football and we are helping football authorities to take action”.

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European Tremendous League broadcasts 12 soccer golf equipment, 6 from England

Trent Alexander-Arnold of Liverpool controls the ball during the UEFA Champions League quarter-final second leg between Liverpool FC and Real Madrid at Anfield on April 14, 2021 in Liverpool, England.

Shaun Botterill | Getty Images Sports | Getty Images

Twelve of the leading European football clubs have agreed to set up a Super League despite widespread criticism of the plans.

A statement from the new competition states: “AC Milan, Arsenal, Atlético Madrid, Chelsea, Barcelona, ​​Inter Milan, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur have joined as founding clubs.

“It is expected that three more clubs will join before the inaugural season, which is due to start as soon as possible.”

Florentino Pérez, President of Real Madrid and first chairman of the Super League, said: “We will help football at all levels and bring it to its rightful place in the world. Football is the only global sport in the world with more than four billion fans and our responsibility as big clubs is to respond to their wishes. “

The project is being launched to keep up with the UEFA Champions League format that currently dominates European football. UEFA was due to sign plans for an expanded and restructured Champions League on Monday.

The new Super League has been criticized by politicians like Prime Minister Boris Johnson and Labor Party leader Sir Keir Starmer, as well as former players like Gary Neville.

Mr Johnson said the new league will “be at the heart of the national game and affect fans across the country”.

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He added: “The clubs involved must respond to their fans and the wider football community before taking any further action.”

Sir Keir said the plans ignored fans, adding, “Football in empty stadiums hasn’t been the same last year. I can’t wait to get back to the games. But this proposal could open the door for fans forever.” shut down.” and reduces them to mere viewers and consumers.

“The clubs involved in this proposal should reconsider immediately. And if not, they should face the consequences of their actions. Because football is nothing without fans.”

Former Manchester United defender Gary Neville told Sky Sports: “I’m not against modernizing football competitions, we have the Premier League, the Champions League, but I think we have proposals for everyone amid COVID and the economic crisis. ” Clubs is an absolute scandal.

“United and the rest of the ‘Big Six’ who signed up against the rest of the Premier League should be ashamed.”

Neville added, “You should subtract six points from all six teams that signed up. Subtract points from everyone. During a season? It’s a joke.”

UEFA, the FA and the Premier League, among others, have expressed their opposition and declared in a joint statement that they “remain united in our efforts to stop this cynical project”, adding: “We thank these clubs in other countries, especially the French and German clubs that have refused to register.

“This persistent self-interest of a few has lasted too long. Enough is enough.”

The English federation said: “We would not give permission for competitions that would harm English football and we will take all legal and / or regulatory action necessary to protect the broader interests of the game.”

20 clubs take part in the Super League competition – 15 founding clubs and another five teams that can qualify annually based on their performance in the past season.

It starts in August with clubs that participate in two groups of ten and sometimes play home and away games during the week. The top three in each group qualify for the quarter-finals.

The teams finishing fourth and fifth will battle it out for the remaining quarter-finals in a two-legged play-off before using a knockout format at the end of May to advance to the final, which will be played as a single game at a neutral location.

Club players can continue to compete in their national leagues, and a women’s league will be launched as soon as possible after the men’s competition begins.

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European Union Guarantees Additional Covid-19 Vaccine Doses From Pfizer

The European Union will receive an additional 50 million doses of the coronavirus vaccine developed by Pfizer and BioNTech this month, accelerating its efforts to accelerate vaccination amid difficulties with vaccines developed by AstraZeneca and Johnson & Johnson.

The announcement by Ursula von der Leyen, President of the European Commission, is part of the European Union’s tough pivot for mRNA vaccines like Pfizer, which is basing its future coronavirus response on it.

The measures come a day after Johnson & Johnson suspended rollout of its vaccine in the European Union and the block continued to suffer from the restrictions of the AstraZeneca vaccine after reports of extremely rare but serious potential side effects from both.

The 27-nation bloc has also started negotiations with Pfizer for the delivery of 1.8 billion new doses of vaccine – including booster shots to extend immunity and new vaccines to combat emerging variants – in 2022 and 2023, Ms. von der Leyen said .

In another setback for AstraZeneca, Denmark became the first country to permanently stop administering the company’s vaccine on Wednesday. The potential side effects are significant enough to do so, given that the pandemic was under control and two other vaccines could be used. from Pfizer and Moderna.

The European Union has not canceled its existing orders for the AstraZeneca and Johnson & Johnson vaccines, but has signaled that they will no longer be placing.

The European Medicines Agency, the bloc’s top medicine agency, goes on to say that the benefits of the AstraZeneca vaccine far outweigh the risks of a dangerous but extremely rare blood disorder for most people. On Wednesday, the agency said it was accelerating its investigation of “very rare cases of unusual blood clots” in recipients of the Johnson & Johnson vaccine and is expected to issue a recommendation next week.

During the ongoing evaluation, the Agency reiterated its view that it will reap the benefits Vaccine also outweigh the risks.

The European Union’s move away from AstraZeneca follows troubled months as relations between the company and the bloc deteriorated due to late deliveries and unpredictable deliveries. And since then, concerns about possible side effects have heightened skepticism about vaccines, which was already dangerously high in Europe.

These problems have contributed to the fact that Europe has lagged seriously behind vaccination campaigns in the US and UK. The block hopes the new Pfizer broadcasts will help it catch up and meet its goal of fully vaccinating 70 percent of its adult population, roughly 255 million people, by the end of the summer.

Pfizer’s commitment to move ahead with deliveries of the 50 million cans originally planned for the end of the year means the company will deliver a total of 250 million cans to the block by the end of June.

“We now have to concentrate on technologies that have proven themselves: mRNA vaccines are a clear example of this,” said Ms. von der Leyen.

Monika Pronczuk contributed to the reporting.

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AstraZeneca’s Newest Stumble Once more Clouds European Vaccinations

LONDON – This week’s announcement that the AstraZeneca shot, the workhorse of global vaccine adoption, was nearly 80 percent effective in a gold-standard American study was facilitated by the many countries that rely on it.

“If you get the call, get the bump,” urged UK Health Secretary Matt Hancock, part of a campaign by European lawmakers to calm people’s nerves with the shot after a recent security crisis.

But by Tuesday that campaign was off course, at least for the moment. For AstraZeneca, it appeared to be yet another episode of public relations whiplash, part of a string of recent mistakes and communications errors by the company that scientists said undermined efforts to sell people with one of the most effective and essential coronavirus vaccines.

In a highly unusual move, American health officials said Tuesday that the company’s report on the results of its US studies was not entirely accurate, suggesting that AstraZeneca used only the most favorable data to produce what appeared to be spectacular efficacy results.

These comments sparked new tensions between AstraZeneca and American officials, despite the company battling for coveted Food and Drug Administration approval. More urgently, however, she wrench the efforts of elected leaders around the world to restore confidence in a shot that, due to its low price and simple storage requirements, has rebuilt the backbone of many countries’ campaigns to end the pandemic have provided.

“It weakens confidence,” said Simon Clarke, associate professor of cell microbiology at the University of Reading. “If you pump things up and people don’t question it inappropriately, it undermines trust.”

Confidence in the vaccine had already fallen across Europe after it was recently reported that a very small number of recipients had developed unusual blood clots.

In France, Germany, Italy and Spain today, more people believe the vaccine is unsafe than it is safe. Polls have shown that this is a blow to a shot that remains the continent’s best hope of saving people’s lives amid a growing number of new infections. Millions of cans are used unused in refrigerators across the continent. Doctors report that some people stop injections because of concerns about side effects.

Despite the much worrying news about the vaccine, European and global regulators have found it safe and effective. In the UK alone, more than 11 million doses have been administered, almost all of which have no serious side effects. This led to hospital admissions and helped the country get out of a terrible wave of infections over the winter.

Even so, AstraZeneca’s US trial was eagerly awaited. It had been expected to be the largest of its kind for the shot and to give the cleanest, most complete picture of the vaccine’s effectiveness. American officials saw it as an irrefutable test of the vaccine’s performance.

And health officials around the world saw this as a crucial guide for their own rollouts: it would provide vital data on the elderly who weren’t as well represented in previous studies and a more accurate reading of the vaccine’s overall effectiveness. which from previous attempts had appeared lower than that of other leading shots.

As soon as AstraZeneca announced its results on Monday, stating that the vaccine had 79 percent effectiveness in preventing symptomatic Covid-19, lawmakers cited it as part of their fledgling efforts to build public confidence in the vaccine.

By Tuesday, scientists said, it appeared AstraZeneca had punched a hole in those efforts. Rather than clarifying questions about the shot, it had recalled communication issues that have haunted the company since last year, delaying the regulatory process in some regions, and causing hesitation among some recipients.

Updated

March 25, 2021, 8:30 a.m. ET

So far, according to the block, only 55 percent of the AstraZeneca doses shipped to the European Union have been placed in people’s arms, which is well below the rate of use for other vaccines. Around seven million cans are still in the fridge.

While some countries have given more than 70 percent of their doses, others are struggling to get them off the shelves: Germany and France have given about half of their AstraZeneca shipments, and Luxembourg has only given a third.

Scientists said such public dusting was extremely unusual between the American medical experts overseeing a study and the company sponsoring it.

“It’s usually done privately,” said Stephen Evans, professor of pharmacoepidemiology at the London School of Hygiene and Tropical Medicine, of any disagreement. “That is unprecedented in my opinion.”

In its first public comments, AstraZeneca said the results released on Monday mirrored US testing data through February 17. The preliminary assessment of more complete trial data found that “results are in line with interim analysis” said it would share more timely efficacy results within 48 hours.

Scientists said the problem might still turn out to be a technical matter that didn’t change their assessment of the vaccine. American officials did not suggest that security issues had been withheld, which was of great concern given concerns in Europe.

Even so, it quickly took the wind out of the sails of the European legislature’s public campaign to restore confidence in the shot developed with Oxford University. In the past few days, a number of political leaders, including British Prime Minister Boris Johnson and French Prime Minister Jean Castex, have received the vaccine itself to show people it is safe.

“I literally felt nothing,” Mr Johnson told reporters. “I don’t recommend it too much.”

Tuesday’s stumble was the latest in a series of mistakes that have created a troubled relationship between AstraZeneca and American and European regulators – and which scientists say has created unnecessary public confusion over a vaccine that appears to be highly effective.

In early September, the company silently halted its worldwide trials after a participant in the UK fell ill. But American regulators didn’t find out until the story became public. The company’s slowness in providing the FDA with evidence that its vaccine has not been linked to disease kept it on the ground for nearly seven weeks. AstraZeneca has announced that data will be exchanged in a timely manner.

By the end of November, the company was back at a high level: it published results of early clinical studies, including in the UK, that showed the vaccine was either 62 percent or 90 percent effective, depending on the type of dosage.

But even these results were quickly clouded by uncertainty. AstraZeneca later admitted that there was initially confusion about the dose of vaccine some study participants received, making the results difficult to interpret.

The UK, which has long advocated the home-grown vaccine, approved the shot in late December, citing earlier results from clinical trials. The European Union Medicines Agency did the same, but a month later.

EU officials said the delay was partly due to a back and forth between regulators and AstraZeneca over the quality of the data.

And even after the vaccine was approved, some European countries initially restricted it to younger people due to insufficient data on its effectiveness in the elderly. This problem was to be solved through the American process, in which the elderly were better represented.

Neither the European nor the UK regulators gave any indication on Tuesday that the problems with AstraZeneca’s American data would affect its launch there. These agencies relied on a separate dataset from non-American studies to approve the vaccine.

“We are in contact with the company regarding this additional information,” the European Medicines Agency said in a statement on Tuesday, “and the EMA will evaluate the relevant data as soon as the company provides it to us.”

Matina Stevis-Gridneff contributed to reporting from Brussels.

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European nations resume utilizing AstraZeneca Covid vaccine after regulator OK

A dose of the Oxford / AstraZeneca coronavirus vaccine is being made by a member of the Hampshire Fire and Rescue Service of the Basingstoke Fire Station, which has been set up as a vaccination center and where crews are still answering 999 calls on February 4, 2021 in Basingstoke, England.

WPA pool | Getty Images

LONDON – The European Medicines Agency has decided that the AstraZeneca coronavirus vaccine is safe and effective, despite some concerns about possible side effects.

Thursday’s announcement comes after more than a dozen EU countries stopped using the AstraZeneca shot developed with Oxford University after around 30 cases of blood clots. Some other countries have stopped using individual batches of the vaccine.

France, Germany, Italy, the Netherlands, Portugal, Spain and several other European nations are now planning to resume the use of the shot after the regulatory authority’s OK.

The EMA said Thursday that the vaccine’s benefits outweighed the risks. No batch or quality problems with the vaccine were found, although an association with the blood clot incidents could not be definitively ruled out.

“This is a safe and effective vaccine,” said Emer Cooke, EMA Executive Director, at a news conference Thursday.

“The benefits of protecting people from Covid-19, with the associated risks of death and hospitalization, outweigh the potential risks. The committee also concluded that the vaccine was not associated with an increase in the overall risk of thromboembolic events or blood clots. … We still cannot rule out a definitive link between these cases and the vaccine. “

The regulator said it will continue to investigate possible links between rare blood clots and the vaccine. It will also update its guidelines for the vaccine to clarify the potential risks.

Suspensions

The suspensions were not uniform across the 27 member states of the European Union and a number of nations continued to use the AstraZeneca shot in their vaccination campaigns.

Austria became the first country to stop using a certain batch of AstraZeneca shots last week after a 49-year-old woman who received the vaccine died.

Reports of blood clots elsewhere followed, albeit in a very small number of people, causing other leaders to suspend use and await a reassessment by the region’s health authority.

The EMA said in its review that the vaccine may be associated with very rare cases of thrombocytopenia-related blood clots, which are low platelet levels, including rare cases of blood clots in the vessels that drain blood from the brain known as CVST.

“These are rare cases – around 20 million people in the UK and EEA (European Economic Area) had received the vaccine by March 16, and the EMA had only looked at 7 cases of multiple blood clots and 18 cases of CVST. One cause A link to the vaccine has not been established but it is possible and deserves further analysis, “added the EMA in a statement.

AstraZeneca’s vaccine is widely used in the UK but has not yet been approved by the US authorities.

The benefits outweigh the risks.

The World Health Organization said Wednesday that “vaccination against Covid-19 will not reduce disease or death for other reasons. Thromboembolic events are known to be common.”

In addition, WHO said the response from some EU countries had shown that “the surveillance system is working and that there are effective controls in place”. Nonetheless, the institution reiterated its belief that “the benefits of the AstraZeneca vaccine outweigh the risks and recommends that vaccinations be continued”.

The UK Medicines Agency also said Thursday that people should continue to receive the AstraZeneca shot.

Some health professionals have raised major concerns about discontinuing use of this vaccine. Earlier this week, Cooke, of the EMA, said the institution was concerned the suspensions could affect people’s confidence in vaccines.

Recent concerns about the side effects stem from the uncertainty of some EU countries about an alleged lack of data on the effectiveness of the AstraZeneca vaccine in the elderly. However, these countries later decided to use the shot for vaccination.

Situation in Europe “worsening”

The distribution of vaccines is vital in Europe from both a health and an economic perspective.

The President of the European Commission, Ursula von der Leyen, said on Wednesday: “The epidemiological situation is deteriorating.”

“We are seeing a third wave forming in Member States and we know we need to speed up vaccination rates,” she added.

The EU aims to vaccinate 70% of its adult population by the end of summer.

The data presented on Wednesday suggests that the bloc is on track to achieve this goal, provided that drug companies honor their supply contracts over the next three months and member states use them successfully.

– CNBC’s Sara Salinas contributed to this report.

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European Nations Droop Use of AstraZeneca Photographs Over Worries About Blood Clots

Italy’s suspension of another batch was tied to a man in Sicily who died after receiving his shot. It is unclear whether a blood clot was involved.

The vaccine manufactured by AstraZeneca has been injected into more than 142,000 people in Denmark, which has a population of around six million.

The Danish Health Minister Magnus Heunicke said on Twitter that it was “currently not possible to determine whether there is a connection”. He added: “We acted early, it needs a thorough investigation.”

Denmark had already cut the target for the completion of its vaccination campaign, partly due to delivery delays. The safety break will delay it further.

AstraZeneca’s vaccine was screened for potential safety issues over the past year while being tested in clinical trials. Two vaccinated volunteers in the UK developed neurological symptoms related to transverse myelitis, an inflammatory syndrome that affects the spinal cord and is often caused by viral infections.

These concerns temporarily put the vaccine to a halt around the world, but the investigation ultimately found no evidence to link the symptoms to the vaccine. One of the sick participants was later found to have an undiagnosed case of multiple sclerosis.

Since then, more than 70 countries have approved the vaccine, with the exception of the United States, where regulators are waiting for data from a large clinical trial expected in the next few weeks. A Food and Drug Administration decision to approve AstraZeneca’s vaccine is likely more than a month away.

The largest real world data on the safety of the vaccine comes from the UK, which had given 9.7 million doses in the last month. The UK Medicines Agency, the regulator of medicines and health products, said: “The number and types of suspected adverse reactions reported to date are not uncommon when compared to other types of vaccines routinely used.”

Rebecca Robbins reported from Bellingham, Washington, and Thomas Erdbrink from Amsterdam. Jason Horowitz and Emma Bubola reported from Italy, Benjamin Mueller from London and Denise Grady from New York.

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European Courtroom Backs Germany in Case Over 2009 Killings of Afghan Civilians

BERLIN – The European Court of Human Rights ruled in favor of Germany on Tuesday in a dispute with Afghan civilians who questioned the country’s investigation into an attack on oil tankers in Afghanistan in 2009 that killed up to 90 civilians.

In its ruling, the Strasbourg, France-based court found that the German investigation into the bombing did not violate the European Convention on Human Rights.

On the night of the attack, Taliban fighters hijacked two tankers carrying NATO fuel, but they were stranded on a sandbar in the Kunduz River, about four miles from the NATO base in Kunduz, Afghanistan.

Colonel Georg Klein, who was serving as the commander of the NATO base in Kunduz at the time, called US military planes to bomb the tankers. He believed that there were only insurgents in the area and feared the Taliban might use them to carry out attacks. But dozens of local Afghans had flooded the tanks after the Taliban invited them to suck up fuel. An investigation by the German army later found that up to 90 civilians had been killed.

Abdul Hanan, who lost his sons Abdul Bayan (12) and Nesarullah (8) as part of the NATO air strike ordered by Colonel Klein on September 3, 2009, brought the case to the European court after several complaints in the German judicial system.

The court found that the Federal Prosecutor’s Office decision to close an investigation into the commanding general was justified “because at the time the airstrike was ordered he was convinced that no civilians were present at the scene of the attack”.

The German Bundestag carried out a public investigation into the bombing, which was also contested in several German courts. Mr. Hanan had argued that Germany was protecting Colonel Klein and others whom he claimed were responsible for covering up the air strike.