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Business

Markets Slip as Britain Will get a New Prime Minister and Vitality Worries Develop

If the financial markets are sending a message to Britain’s new Prime Minister, Liz Truss, it is a worrying one.

Ms Truss, who was elected the next prime minister by Conservative Party members on Monday, faces enormous economic challenges as energy prices soar and the cost of living becomes increasingly unaffordable. As the outlook dims and a recession becomes more likely, the pound is at its lowest since March 2020 and nearing its lowest since 1985 against the dollar.

Elsewhere in Europe, markets started the week on shaky ground after Russian energy giant Gazprom said on Friday it would not resume natural gas flows between Russia and Germany through the Nord Stream 1 pipeline as expected on Saturday. Natural gas prices soared and stocks plummeted.

Last month, the British pound fell 4.5 percent against the US dollar, its worst month in nearly six years, as the economic outlook worsened. Households have been told to expect their energy bills to rise by 80 percent in October and industry groups have warned there could be large-scale shutdowns by companies unable to afford the energy bills. The Bank of England has hiked rates by the most in 27 years, and traders are betting rates would need to rise much more to combat inflation, which has hit 10.1 percent despite forecasts of a recession become more frequent.

The pound was little changed at around $1.15 on Monday when Ms. Truss was announced as the new prime minister with a widely anticipated result. It has been steadily declining for over a year (since hitting $1.42 in June 2021) and is less than 1 percent from its lowest level since 1985. Yields on UK government debt, a measure of the cost of borrowing, have also skyrocketed. The 10-year bond yield approached 3 percent, its highest since early 2014.

Decision not to restart Russian gas flows through Nord Stream 1 Concerns have increased about Europe’s winter energy supply and how much consumption may need to be curtailed to avoid blackouts.

Dutch benchmark natural gas futures rose as much as 35 percent Monday morning and 24 percent late in the morning.

The euro was 0.3 percent weaker against the dollar on Monday, falling to 99 US cents on Monday. It fell below parity for the first time in two decades in mid-July and stayed around that level. The common currency has fallen nearly 13 percent against the dollar this year as an energy crisis loomed and the dollar appreciated as the Federal Reserve sharply hiked interest rates in the United States.

On Monday, the leading German index DAX fell by 2.7 percent and the Euro Stoxx 600 by 1.2 percent. In the UK, the FTSE 100 fell 0.6 percent.

In the United States, stock markets were closed for the Labor Day holiday.

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World News

Recriminations Develop in Israel After Stampede at Mount Meron

MOUNT MERON, Israel – Calls for accountability following a disaster that resulted in the death of 45 people in a holy location in northern Israel on Saturday as questions arose over the fault of the government, religious leaders and police.

The rush to Mount Meron early Friday during an annual pilgrimage, one of Israel’s worst disasters, has been warned for years by local politicians, journalists and ombudsmen that the place has become a death trap.

On Saturday, the Israeli news media reported that senior police officers had accused the Ministry of Religious Services for signing the security procedures for the event earlier this week.

A police spokesman said, however, that no additional precautions have been taken to secure the site since the rush. Three police officers on duty at the mountain said they had not received an instruction to limit the crowd since the death on Friday. Pilgrims who stayed on the mountain continued to walk through the site of the Stampede, which had not been cordoned off.

Politicians and political commentators accused the police and other authorities of being involved in the tragedy. One of the people investigated is the Minister of Public Security, Amir Ohana, who oversees the police and emergency services and also takes part in the pilgrimage himself.

Successive Israeli governments have been accused of turning a blind eye to security issues on the mountain for more than a decade in order not to alienate the ultra-Orthodox Jews who attend the annual celebration known in Hebrew as Hillula. Seven of the last nine Israeli government coalitions have relied on the support of ultra-Orthodox parties.

Regarding the Minister of Public Security, Anshel Pfeffer, a political commentator and author, wrote in the liberal Israeli newspaper Haaretz: “Ohana would not have considered, for even a minute, restricting the arrival at Hillula in Meron and assigning the Ultra anger – Orthodox politicians who control the fate of his master, Prime Minister Benjamin Netanyahu. “

“But his predecessors didn’t consider it either,” he added.

Mr Netanyahu is currently fighting to cobble together a new coalition government that will need the support of two ultra-Orthodox parties in order to have the chance to form a parliamentary majority.

A senior police officer, Morris Chen, said Friday night that police protocols had not been influenced by political interference.

Public Security Minister Ohana posted on Twitter that the police had done their best.

“There must and will be a thorough, thorough and real investigation that will find out how and why this happened,” he later said in a video, adding, “From the bottom of my heart I want to partake of the grief of the families, who have lost the most precious of all and wish the injured a quick and complete recovery. “

The attorney general, Avichai Mandelblit, hired an independent watchdog investigating allegations of police wrongdoing to assess allegations of police negligence leading up to the disaster.

But on Saturday, Kan, the state broadcaster, said the watchdog was reluctant to oversee the investigation, given the role of other officials and entities outside of the police force.

Hundreds of thousands of ultra-Orthodox Jews visit Mount Meron every spring for the festival of Lag b’Omer. It honors the death of a second century Jewish mystic, Rabbi Shimon Bar Yochai, whose tomb is on the mountain.

Crowds were banned in 2020, but this year about 100,000 returned after a successful vaccination campaign that has allowed much of Israeli life to return to something that is nearing normal.

The event has long drawn calls to limit the number of pilgrims allowed to attend. The grounds are made up of narrow, sloping hallways and small, cramped spaces that visitors have often warned about being unsuitable for crowds.

The disaster began in the early hours of Friday when crowds gathered in a small arena next to the tomb to watch the lighting of several ceremonial bonfires. Thousands of people then tried to walk up a steep, narrow slope that was eventually connected to a narrow tunnel by a short flight of stairs.

As they neared the steps to the tunnel, some slipped onto the front metal floor of the slope, witnesses said. This resulted in a sudden blockade that trapped hundreds on the ground. As more and more pilgrims left the ceremony above, they trampled on those below.

In 2008 and 2011, the State Comptroller, a government watchdog, warned that the site’s pathways were too narrow to accommodate so many people. The township council chairman said he tried to close it at least three times.

In 2013, the police chief of Northern Israel warned colleagues about a possible fatal accident. And in 2018 the editor of a major Haredi magazine said it was a recipe for disaster.

On Friday evening, a recent State Comptroller representative said the lack of a coherent governance structure at the site made enforcing an adequate security system there more difficult.

Various parts of the website fall under the jurisdiction of four competing private religious institutions, all of which oppose government intervention.

There was “one major flaw,” Liora Shimon, deputy general manager of the controller, told Kan. “It is the fact that this site is not under the responsibility of a single management.”

Yossi Amsalem, 38, a survivor of the tragedy, said the chaotic site management added to the rush but hasn’t stopped blaming any particular group. Mr. Amsalem said the passage where the rush occurred had been used for oncoming traffic, which made movement even more difficult.

“The path should be either to get on or off,” said Amsalem from a hospital bed in Safed, a town across the Meron Valley. “There shouldn’t be this confusion.”

The tragedy met with sympathy and solidarity in the religious-secular divide in Israel. Health workers said 2,200 Israelis donated blood to help the injured on Mount Meron. The flags are flown by half of the staff in official state buildings on Sunday as the country celebrated a day of national mourning.

But the disaster also sparked a debate over religious-secular tensions in Israel and the level of autonomy that should be granted to parts of the ultra-Orthodox community that oppose state control.

While many ultra-Orthodox Jews play an active role in Israeli life, some reject the concept of Zionism, while others reject participation in the Israeli military or workforce and oppose government interference in their educational system.

Tensions mounted during the pandemic as parts of the community enraged the secular public by ignoring government-enforced regulations on coronavirus, even though the disease devastated its ranks far more frequently than the rest of the population.

For the survivors of the Meron disaster, the swarm was therefore the last in a series of struggles and setbacks, rather than a joyful post-pandemic return to normalcy and tradition.

“It was such a difficult year,” said Moshe Helfgot, a 22-year-old whose right leg was broken in two places in the swarm. “And now there is another disaster.”

Irit Pazner Garshowitz and Jonathan Rosen contributed to the coverage.

Categories
Business

Economic system about to develop faster attributable to vaccinations, fiscal help

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on the Quarterly CARES Act Report to Congress on Capitol Hill, Washington, December 1, 2020.

Susan Walsh | Pool | Reuters

The U.S. economy is at a turning point thanks to government support and a swift campaign to vaccinate Americans against Covid-19, Federal Reserve Chairman Jerome Powell said in a new interview.

“What we are seeing now is really an economy that appears to be at a tipping point,” Powell told Scott Pelley during an interview that aired on CBS News on “60 Minutes” on Sunday night. CBS released part of the interview on Sunday.

“We feel in a place where the economy is growing much faster and job creation is much faster,” said Powell. “The main risk to our economy right now is that the disease will spread again. It will be wise if people can continue to distance themselves socially and wear masks.”

Powell’s comments come because US stock indices are at record highs, thanks in part to optimism about the reopening of the economy. Investors will be watching closely next week as the earnings season begins and company executives are making predictions for the year ahead.

The nationwide vaccination campaign has accelerated in recent weeks, with almost every state allowing all adults over the age of 16 to be shot.

In the United States, about 183 million doses of vaccine have been administered, according to the Centers for Disease Control and Prevention. Almost half of the country’s adult population and nearly 80% of those over 65 have received at least one dose, CDC data shows.

Powell, a representative for former President Donald Trump, was a key figure in the federal government overseeing the nation’s response to the financial distress caused by the pandemic.

The Federal Reserve cut its key rate to near zero in March 2020 and launched massive emergency loan programs. Powell says the Fed is unlikely to hike rates until the economy is essentially fully healed, even if inflation rises moderately above its 2% target.

Powell has also supported aggressive federal spending programs implemented under both Trump and President Joe Biden to contain the worst effects of the public health crisis.

The full interview with Powell will air on Sunday at 7 p.m.

Subscribe to CNBC Pro for the live TV stream, deep insights and analysis of how to invest over the next president’s term.

Categories
Politics

Russia-Ukraine tensions develop once more on the border

LONDON – A sharp rise in tensions between Russia and Ukraine in recent weeks raises fears of a revival of the military conflict.

Since Russia annexed Crimea from Ukraine in 2014, there has been ongoing clashes between Ukrainian troops and pro-Russian separatists in Donbass, a region in eastern Ukraine. It is believed that around 14,000 people were killed in the fighting, interrupted by ceasefire periods (which both sides have accused of injuring the other).

Last week, Ukraine said four of its soldiers were killed in shelling by Russian forces in Donbass.

In early March, the Commander-in-Chief of the Armed Forces of Ukraine, Ruslan Khomchak, said that Russia’s “armed aggression” in Donbass posed a “great threat” not only to the national security of Ukraine, but to all NATO allies. Earlier this week, he said that Russian troops had been gathering near the border.

Russia’s actions in the US have not gone unnoticed On Wednesday, Foreign Minister Antony Blinken reiterated Washington’s support for Ukraine’s territorial integrity “in the face of ongoing Russian aggression,” the State Department said in a statement.

Speaking to the Ukrainian Foreign Minister, Blinken expressed “concerns about the security situation in eastern Ukraine and expressed condolences to the recent loss of four Ukrainian soldiers,” the statement added.

The Kremlin on Wednesday said it was concerned about mounting tensions in eastern Ukraine and feared that Kiev armed forces could do something to resume conflict.

“We are concerned about the growing tension and that the Ukrainian side could, in one way or another, take provocative measures that could lead to war. We really don’t want to see that,” Kremlin spokesman Dmitry Peskov said, according to Reuters.

“I mean a civil war that has already been going on,” said Peskov when asked to clear a conference call with reporters.

Russian President Vladimir Putin on Tuesday spoke to German Chancellor Angela Merkel and French President Emmanuel Macron, who have tried to broker a peace deal between Russia and Ukraine, about “serious concerns about the escalation of armed confrontation on the Ukraine-provoked contact line “. and, according to Russia, Ukraine’s “refusal” to honor agreements that were part of the last ceasefire coordinated in July.

Timothy Ash, chief emerging markets strategist at BlueBay Asset Management, commented on Wednesday: “It seems like Putin is trying to test and investigate the West’s defenses and decide to confront him – maybe this is the prelude to one new military offensive in Ukraine. “

“It feels like Putin is preparing for a big step – perhaps a distraction to his own problems at home with Navalny and focusing on … State Duma elections. A victory in Ukraine would benefit the nationalist crowd in Russia and Russia throw some red meat again. ” expose the weakness of the West, “he added, referring to the imprisoned Russian dissident Alexei Navalny.

Ash advised Russian observers to keep an eye on the water shortage in the Crimea. The roots were laid seven years ago when Ukraine blocked the North Crimean Canal, cutting off most of the region’s freshwater supplies.

“If I were to look somewhere south and to the water problems in Crimea. The risk is that Russia will try diversionary tactics in Donbass if the bigger price is a military advance into Ukraine to conquer watercourses that water Crimea supply.” Said Ash.

“Perhaps Putin believes the West is weak and divided and unable to react,” continued Ash, citing inadequate sanctions by the Joe Biden administration, for example on the North Stream gas pipeline, because of the SolarWinds hack that was launched against US Failed government networks, and the 2016 election meddling “as a signal that the US is only petrified to act for fear of what Russia might do.”

Categories
Health

Scientists Develop Mouse Embryos in a Mechanical Womb

The mouse embryos looked completely normal. All of her organs developed as expected, along with her limbs, as well as the circulatory and nervous systems. Their tiny hearts beat at a normal 170 beats per minute.

But these embryos did not grow in a mother mouse. They were developed in an artificial uterus, the first time such a feat has been accomplished, scientists reported on Wednesday.

The experiments at the Weizmann Institute of Science in Israel should help scientists understand how mammals develop and how gene mutations, nutrients and environmental conditions can affect the fetus. But the work might one day raise profound questions as to whether other animals, even humans, should or could be cultivated outside of a living womb.

In a study published in the journal Nature, Dr. Jacob Hanna, how embryos are removed from the uterus of mice on five days of pregnancy and cultured in an artificial uterus for a further six days.

At this point the embryos were about in the middle of their development; The full gestation is about 20 days. A person at this stage of development would be called a fetus. To date, Dr. Hanna and his colleagues bred more than 1,000 embryos in this way.

“It really is a remarkable achievement,” said Paul Tesar, developmental biologist at Case Western Reserve University’s medical school.

Alexander Meissner, Director for Genome Regulation at the Max Planck Institute for Molecular Genetics in Berlin, said that “it is amazing to get this far” and that the study is “an important milestone”.

However, the research has already gone beyond what investigators described in the paper. In an interview, Dr. Hanna, he and his colleagues took fertilized eggs from the fallopian tubes of female mice immediately after fertilization – on day 0 of development – and bred them in the artificial uterus for 11 days.

Until now, researchers in the laboratory have been able to fertilize mammalian eggs and only breed them for a short time. The embryos needed a living womb. “Placental mammals develop trapped in the uterus,” said Dr. Tesar.

This prevented scientists from answering basic questions about the earliest stages of development.

“The holy grail of developmental biology is understanding how a single cell, a fertilized egg, can create all of the specific cell types in the human body and grow into 40 trillion cells,” said Dr. Tesar. “Researchers have always tried to find ways to answer this question.”

The only way to study the development of tissues and organs was to turn to species like worms, frogs, and flies that do not need a uterus, or to remove embryos from the uterus of laboratory animals at different times for insight into development that are more like snapshots than video.

What was needed was a way to get inside the uterus and watch and optimize mammalian development as it happened. For Dr. For Hanna this meant the development of an artificial uterus.

He spent seven years designing a two-part system that included incubators, nutrients, and a ventilation system. The mouse embryos are placed in glass vials in incubators, where they swim in a special nutrient fluid.

The vials are attached to a wheel that rotates slowly to prevent the embryos from sticking to the wall, where they would deform and die. The incubators are connected to a ventilator that supplies oxygen and carbon dioxide to the embryos and controls the concentration of these gases, as well as the gas pressure and flow rate.

On day 11 of development – more than in the middle of a mouse pregnancy – Dr. Hanna and his colleagues took the embryos, only the size of apple seeds, and compared them with those that developed in the uterus of living mice. The scientists found that the laboratory embryos were identical.

At this point, however, the embryos grown in the laboratory had become too large to survive without a blood supply. They had a placenta and a yolk sac, but the nutrient solution that was diffusing to feed them was no longer enough.

Overcoming this hurdle is the next goal, said Dr. Hanna in an interview. He is considering using a fortified nutrient solution or an artificial blood supply that is attached to the embryo’s placenta.

In the meantime, experiments are due. The ability to keep embryos alive and develop mid-pregnancy “is a gold mine for us,” said Dr. Hanna.

The artificial uterus can allow researchers to learn more about why pregnancies lead to miscarriages or why fertilized eggs cannot be implanted. It opens a new window about how gene mutations or deletions affect the development of the fetus. Researchers may be able to watch individual cells migrate towards their ultimate destinations.

The work is “a breakthrough,” said Magdalena Zernicka-Goetz, professor of biology and biotechnology at Caltech. It “opens the door to a new era in the study of development in the experimental mouse model.”

A recent development offers another possibility. Researchers created mouse embryos directly from mouse fibroblasts – connective tissue cells – to create early embryos without starting with a fertilized egg.

Combine this development with Dr. Hanna’s work and “now you don’t need mice to study mouse embryo development,” said Dr. Meissner. Scientists can potentially make all the embryos they need from connective tissue.

If scientists could make embryos without fertilizing eggs and study their development without a uterus, said Dr. Meissner: “You can escape the destruction of embryos.” It would not be necessary to fertilize mouse eggs in order to destroy them in the course of the study.

But the work could eventually go beyond mice. Two other articles published in Nature on Wednesday report attempts that are close to creating early human embryos in this way. Of course, said Dr. Meissner, the creation of human embryos is years away – if at all allowed. At present, scientists generally fail to examine human embryos after 14 days of fertilization.

In the future, Dr. Tesar: “It is not unreasonable that we might have the ability to develop a human embryo completely outside of the uterus from conception to birth.”

Of course, even the suggestion of this science fiction scenario will horrify many. But it is early days with no certainty that human fetuses could ever develop completely outside of the womb.

Even if they could, Dr. Tesar: “Whether this is appropriate is a question for ethicists, regulators, and society.”

Categories
Business

Utz Manufacturers doubles down on digital advertisements to develop snack gross sales, retain prospects

Dylan Lissette, CEO of Utz Brands, told CNBC on Friday that the company is increasing its marketing spend on digital advertising to reach new customers and increase sales of snacks.

“We are investing a lot of money there. In the further course of 2021 [it will be] About 60% more, “he said in a Mad Money interview with Jim Cramer.” But if we look beyond that, we will invest even more. “

The company, which sells a range of salty snacks, including potato chips and pretzels, wants to capitalize on bans in pandemic times with consumers eating at home. The company’s portfolio includes brands such as Zapp’s, Golden Flake and Boulder Canyon.

“What we love [digital ads] is the fact that you are really able to turn a dime in … and keep track of what works, “he said.” If some kind of angle of attack works for one brand or another in reaching our customers, they are able to lean behind it very quickly. “

According to the annual report, Utz spent around 11.1 million US dollars on consumer marketing and advertising for the 2020 financial year ending on January 3. Lissette didn’t say how much would be spent on marketing and advertising expenses in the current fiscal year.

Lissette said there are more opportunities in social media and digital ads “than doing a commercial and running it for a year and realizing that it isn’t really giving you what you need”.

The Utz share rose by 5% to USD 26.56 on Friday. The 100-year-old brand went public last year through a purpose of the acquisition company.

Categories
Health

Tilray inventory rallies on pot distribution settlement with Develop Pharma

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

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

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

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

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

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

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Health

Biden Inherits a Vaccine Provide Unlikely to Develop Earlier than April

As the Biden administration takes power with a pledge to tame the most dire public health crisis in a century, one pillar of its strategy is to significantly increase the supply of Covid-19 vaccines.

But federal health officials and corporate executives agree that it will be impossible to increase the immediate supply of vaccines before April because of lack of manufacturing capacity. The administration should first focus, experts say, on fixing the hodgepodge of state and local vaccination centers that has proved incapable of managing even the current flow of vaccines.

President Biden’s goal of one million shots a day for the next 100 days, they say, is too low and will arguably leave tens of millions of doses unused. Data collected by the Centers for Disease Control and Prevention suggests that the nation has already reached that milestone pace. About 1.1 million people received shots last Friday, after an average of 911,000 people a day received them on the previous two days.

That was true even though C.D.C. data indicates that states and localities are administering as few as 46 percent of the doses that the federal government is shipping to them. An efficient vaccination regimen could deliver millions more shots.

“I love that he set a goal, but a million doses a day?” said Dr. Paul A. Offit, the director of the Vaccine Education Center at Children’s Hospital of Philadelphia and a member of a federal vaccine advisory board.

“I think we can do better,” he said. “We are going to have to if we really want to get on top of this virus by, say, summer.”

The pace of vaccination is critical not just to curbing disease and death but also to heading off the impact of more infectious forms of the virus. The C.D.C. has warned that one variant, which is thought to be 50 percent more contagious, might become the dominant source of infection in the United States by March. Although public health experts are optimistic that the existing vaccines will be effective against that variant, known as B.1.1.7, it may drive up the infection rate if enough people remain unvaccinated.

The current vaccination effort, which has little central direction, has sown confusion and frustration. Some localities are complaining they are running out of doses while others have unused vials sitting on shelves.

Mr. Biden is asking Congress for $20 billion to vastly expand vaccination centers to include stadiums, pharmacies, doctors’ offices and mobile clinics. He also wants to hire 100,000 health care workers and to use federal disaster relief funds to reimburse states and local governments for vaccination costs.

Dr. Mark B. McClellan, the director of Duke University’s health policy center, said those moves should help clear the bottlenecks and “push the number beyond a million doses a day and probably significantly beyond.”

The nation’s vaccine supply in the first three months of the year is expected to substantially exceed what is needed to meet the administration’s goal. According to a senior administration official, Pfizer-BioNTech and Moderna have been ramping up and are now on track to deliver up to 18 million doses a week. Together, they have pledged to deliver 200 million doses by the end of March. A third vaccine maker, Johnson & Johnson, might also come through with more doses. If all of that supply were used, the nation could average well over two million shots a day.

Asked Thursday afternoon by a reporter if one million shots a day was enough, Mr. Biden said: “When I announced it, you all said it’s not possible. Come on, give me a break, man. It’s a good start.”

Covid-19 Vaccines ›

Answers to Your Vaccine Questions

If I live in the U.S., when can I get the vaccine?

While the exact order of vaccine recipients may vary by state, most will likely put medical workers and residents of long-term care facilities first. If you want to understand how this decision is getting made, this article will help.

When can I return to normal life after being vaccinated?

Life will return to normal only when society as a whole gains enough protection against the coronavirus. Once countries authorize a vaccine, they’ll only be able to vaccinate a few percent of their citizens at most in the first couple months. The unvaccinated majority will still remain vulnerable to getting infected. A growing number of coronavirus vaccines are showing robust protection against becoming sick. But it’s also possible for people to spread the virus without even knowing they’re infected because they experience only mild symptoms or none at all. Scientists don’t yet know if the vaccines also block the transmission of the coronavirus. So for the time being, even vaccinated people will need to wear masks, avoid indoor crowds, and so on. Once enough people get vaccinated, it will become very difficult for the coronavirus to find vulnerable people to infect. Depending on how quickly we as a society achieve that goal, life might start approaching something like normal by the fall 2021.

If I’ve been vaccinated, do I still need to wear a mask?

Yes, but not forever. The two vaccines that will potentially get authorized this month clearly protect people from getting sick with Covid-19. But the clinical trials that delivered these results were not designed to determine whether vaccinated people could still spread the coronavirus without developing symptoms. That remains a possibility. We know that people who are naturally infected by the coronavirus can spread it while they’re not experiencing any cough or other symptoms. Researchers will be intensely studying this question as the vaccines roll out. In the meantime, even vaccinated people will need to think of themselves as possible spreaders.

Will it hurt? What are the side effects?

The Pfizer and BioNTech vaccine is delivered as a shot in the arm, like other typical vaccines. The injection won’t be any different from ones you’ve gotten before. Tens of thousands of people have already received the vaccines, and none of them have reported any serious health problems. But some of them have felt short-lived discomfort, including aches and flu-like symptoms that typically last a day. It’s possible that people may need to plan to take a day off work or school after the second shot. While these experiences aren’t pleasant, they are a good sign: they are the result of your own immune system encountering the vaccine and mounting a potent response that will provide long-lasting immunity.

Will mRNA vaccines change my genes?

No. The vaccines from Moderna and Pfizer use a genetic molecule to prime the immune system. That molecule, known as mRNA, is eventually destroyed by the body. The mRNA is packaged in an oily bubble that can fuse to a cell, allowing the molecule to slip in. The cell uses the mRNA to make proteins from the coronavirus, which can stimulate the immune system. At any moment, each of our cells may contain hundreds of thousands of mRNA molecules, which they produce in order to make proteins of their own. Once those proteins are made, our cells then shred the mRNA with special enzymes. The mRNA molecules our cells make can only survive a matter of minutes. The mRNA in vaccines is engineered to withstand the cell’s enzymes a bit longer, so that the cells can make extra virus proteins and prompt a stronger immune response. But the mRNA can only last for a few days at most before they are destroyed.

The administration is promising to purchase even more vaccine doses as they become available from the vaccine makers, and to use the Defense Production Act to spur production. But federal health officials and corporate executives said those were longer-term goals because the supply for the first three months of the year was essentially fixed.

The Trump administration invoked the Defense Production Act to force suppliers to prioritize orders from Pfizer, Moderna and other vaccine makers whose products are still in development. Health officials said it was unclear how the new administration could use the law beyond that to boost production.

One senior federal health official involved in the government’s vaccine efforts said that Operation Warp Speed, the Trump administration’s crash development program, had looked at all available manufacturing capacity domestically and globally and that there was little space left to negotiate at this point. The official said that if there had been more doses available to the government in the first quarter, they would have been purchased.

Experts generally agree that the federal government should be locking in purchases of as many doses as possible because no one knows yet how long the vaccines will protect against the coronavirus, whether booster shots will be required and what threats mutations of the virus could pose.

From April and thereafter, the supply outlook brightens. Pfizer and Moderna have each committed to supply another 100 million doses by the end of July, and the companies might be able to provide even more. A week ago, Pfizer and BioNTech, its German partner, increased their global production target to 2 billion doses for the year from 1.3 billion doses.

Pfizer has delayed deliveries to European countries while it retools its Belgium factory to expand production. But at the firm’s factory in Kalamazoo, Mich., which supplies doses for Americans, production has quickened since the federal government ordered suppliers to prioritize Pfizer’s needs. The unexpected discovery that efficient syringes could extract a sixth dose from its vials also upped Pfizer’s estimates.

Moderna has also raised its production targets for the year to 600 million doses, up from 500 million.

Johnson & Johnson is expected to announce results from its vaccine trial within days. If that vaccine proves effective, it could drastically speed up the pace of vaccinations because unlike Moderna’s and Pfizer-BioNTech’s vaccines, it requires only one dose. The company could apply for emergency use authorization from the Food and Drug Administration as soon as the end of the month. While its manufacturing has lagged, Johnson & Johnson is trying to catch up to the goals detailed in the federal contract it signed last year.

The firm is now expected to deliver anywhere from several million to 12 million doses by the end of February, and 10 million to 20 million more doses at the end of March or the first week in April, according to several people familiar with the firm’s manufacturing output. The first batch would be produced at its Dutch factory, and later batches at a factory in Baltimore operated by its manufacturing partner, Emergent BioSolutions.

But to deliver the second batch that quickly, federal regulators may have to agree to delay certain manufacturing reviews of the vaccine from the Baltimore plant, according to people familiar with the situation. Those discussions are now underway.

Johnson & Johnson is also in preliminary talks with Merck, a major American pharmaceutical company, about using its production lines, one of several ideas that federal health officials discussed with the Biden transition team. Federal officials are interested in boosting the nation’s vaccine-making power long-term, and Merck’s facilities may be among the few with remaining manufacturing capability.

But Dr. McClellan, who sits on Johnson & Johnson’s board of directors, said it would take months to adapt Merck’s factory to produce Johnson & Johnson’s vaccine. A senior administration official predicted that it could take until the end of the year.

Other vaccine makers may also come through by midyear. Novavax has worked to iron out what were recently dire manufacturing problems that delayed its clinical trials. Moncef Slaoui, the scientific head of the federal vaccine development program in the Trump administration, said in a recent interview that Novavax could apply for emergency use authorization in late April. The government has already ordered 110 million doses of the Novavax vaccine, to be delivered by the end of June, and Novavax has said it believes it can meet that target.

Mr. Biden has surrounded himself with new health officials assigned to getting vaccines from factories to recipients, including Dr. Bechara Choucair, the former Chicago health commissioner who is the White House’s vaccinations coordinator, and Tim Manning, a former top official at the Federal Emergency Management Agency who is now the supply coordinator. Dr. David Kessler, the former F.D.A. commissioner, will help lead the federal government’s vaccine development program at the Department of Health and Human Services, with special attention to manufacturing.

After both the Pfizer-BioNTech and Moderna vaccines proved to be highly effective in clinical trials late last year, the Trump administration considered whether to rethink its strategy of backing six different vaccine makers and instead throw all of its weight behind the proven producers. One senior administration official described “countless hours of debate” over the issue.

In the end, officials decided it was critical to keep aiming for a broad portfolio of vaccines, in part because no one has figured out which vaccines might work best for children or be most effective against emerging variants. They recommended that the Biden administration do the same.

Katie Thomas and Donald G. McNeil Jr. contributed reporting.

Categories
World News

Hundreds of thousands Flock to Telegram and Sign as Fears Develop Over Large Tech

Neeraj Agrawal, a spokesperson for a think tank for cryptocurrency, has typically used the encrypted messaging app Signal to chat with privacy-conscious colleagues and colleagues. He was surprised on Monday when the app drew his attention to two new users: mom and dad.

“Signal still had a subversive glow,” said Mr. Agrawal, 32. “Now my parents are in.”

Gavin McInnes, founder of the far-right Proud Boys group, had just announced his return on Telegram. “Man, I haven’t posted anything here in a while,” he wrote on Sunday. “I will post regularly.”

And on Twitter, Elon Musk, the billionaire entrepreneur, also weighed in two words last week: “Use Signal”.

In the past week, tens of millions of people downloaded Signal and Telegram, making them the two hottest apps in the world. With Signal, messages can be sent with “end-to-end encryption”, ie only the sender and recipient can read the content. Telegram offers some encrypted messaging options, but is mostly popular for its group-based chat rooms where users can discuss a wide variety of topics.

Their sudden surge in popularity was fueled by a series of events over the past week that raised concerns about some of the big tech companies and their communication apps, like WhatsApp, which Facebook owns. Tech companies like Facebook and Twitter removed thousands of far-right accounts – including President Trump’s – after the Capitol storm. Amazon, Apple, and Google have also dropped support for Parler, a social network popular with Mr. Trump’s fans. In response, conservatives looked for new apps to communicate with.

At the same time, privacy concerns about WhatsApp were mounting, which last week a pop-up notification reminded users that some of their data will be shared with the parent company. The notification sparked a wave of fear fueled by viral chain messages falsely claiming Facebook could read WhatsApp messages.

The result has been mass migration that, if it continues, could weaken the power of Facebook and other big tech companies. On Tuesday, Telegram announced that it had added more than 25 million users in the past three days, which equates to more than 500 million users. According to estimates by Apptopia, an app data company, Signal added nearly 1.3 million users on Monday alone, after an average of just 50,000 downloads per day last year.

“We already had a lot of downloads,” said Pavel Durov, CEO of Telegram, in a message on the app on Tuesday. “But this time it’s different.”

Carl Woog, a spokesman for WhatsApp, said that users’ privacy settings have not changed and that rumors about what data is being shared are largely unfounded.

“What doesn’t change is that private messages to friends and family, including group chats, are protected with end-to-end encryption so that we can’t see them,” he said.

The rise of Telegram and Signal could spark the debate about encryption, which helps protect the privacy of people’s digital communications, but can hinder authorities in criminal investigations as conversations are hidden.

In particular, the move to apps by far-right groups has worried US authorities, some of whom are trying to track plans for potentially violent rallies at or before the inauguration of President-elect Joseph R. Biden Jr. next week.

“The proliferation of encrypted platforms where law enforcement can’t even monitor rhetoric enables groups with bad intent to plan behind the curtain,” said Louis Grever, director of the Association of State Criminal Investigative Agencies.

Capitol Riot Fallout

Updated

Jan. 13, 2021, 6:09 p.m. ET

Telegram is particularly popular with right-wing extremists as it mimics social media. After Facebook and Twitter limited Mr Trump to their services last week and other companies enlisted their assistance from Parler, right-wing groups on Parler and other fringe social networks posted links to new Telegram channels and encouraged people to join them.

In the four hours after Parler went offline on Monday, a Proud Boys group on Telegram gained over 4,000 new followers.

“Don’t trust Big Tech,” read a message in a Proud Boys group on Parler. “We need to find safer rooms.”

On Signal, a Florida-based militia group said Monday that it is organizing its chats in small city-to-city chats, limited to a few dozen people each, according to the New York Times. They warned each other not to let in anyone they did not know personally to avoid police officers spying on their chats.

The deluge of users of Telegram, based in Dubai, and Signal, based in Silicon Valley, goes well beyond American right. Mr Durov said 94 percent of Telegram’s 25 million new users were from Asia, Europe, Latin America, the Middle East and North Africa. Data from Apptopia showed that while the US was the main source of Signal’s new users, downloads of both apps increased in India, Indonesia, Mexico, Brazil and elsewhere.

Concerns about WhatsApp’s privacy policy have increased Telegram and Signal’s popularity. While there haven’t been any significant changes to the way WhatsApp handles user data, users immediately interpreted the app’s privacy notice last week as infiltrating and infiltrating all kinds of personal information – such as personal chat logs and voice calls passes this data on to companies.

WhatsApp was quick to say that people were wrong and that it couldn’t see anything in encrypted chats and calls. But it was too late.

“The whole world now seems to understand that Facebook doesn’t create apps for them, Facebook apps for their data,” said Moxie Marlinspike, Founder and CEO of Signal. “It took this one little catalyst to get everyone over the edge of change.”

The passion was so great that Moses Tsali, a rapper from Los Angeles, released a music video for his song “Hit Me On Signal” on Tuesday. And Mr. Musk’s endorsement of Signal last week drove publicly traded shares of Signal Advance Inc., a small medical device maker, from a market value of around $ 50 million to over $ 3 billion. (The company has no relationship with the messaging app.)

Some world leaders have also urged people to join them on the apps. On Sunday, President Andrés Manuel López Obrador’s Twitter account from Mexico spoke about his new telegram group. As of Wednesday, it had nearly 100,000 members.

Eli Sapir, executive director of Apptopia, said that while WhatsApp has fairer concerns about data collection on Facebook, WhatsApp actually uses more secure encryption than Telegram. “It’s like switching from something high in sugar to corn syrup,” he said, adding that Signal was the safest of the three.

Meyi Alabi, 18, a student in Ibadan, Nigeria, said she was surprised this week when her mother invited her to join Signal. Her mother downloaded the app at the urging of a friend who was worried about WhatsApp.

“I was shocked because she got it before me,” she said. “We usually tell our parents about the new apps. Now we are suddenly informed. “

Mr Agrawal, the cryptocurrency worker, said his parents had long been active in several WhatsApp group chats with college friends and relatives in India. He said they told him they joined Signal to follow many of the chats that moved there because some of the attendees were concerned about WhatsApp’s new policy.

He said he knew the dangers of the WhatsApp policy were overstated, but that much of the public did not understand how their data was being handled.

“They hear these important things – data sharing, Facebook, data protection,” said Agrawal, “and that’s enough for them to say I have to get away from it.”

Categories
Business

Equities prone to develop, however discovering yield stays troublesome

krisanapong detraphiphat | Moment | Getty Images

The 2020 lows were a big contributor to a stock market that had a banner year after the March pandemic hit.

Low interest rates also annoyed investors seeking returns on bond purchases to diversify portfolios and reduce risk. While bond yields are likely to remain meager in 2021, much higher yields are available on alternative fixed income investments that individual investors typically overlook.

Many sectors of the market are poised to resume the growth fueled by the Fed’s rate cut last spring – a move whose effectiveness should not have been surprising given its track record. Conditions pointing to stock growth in 2021 include low interest rates, continuation of the Fed’s bond-buying program at current levels and the expected economic recovery related to coronavirus vaccinations. The introduction of vaccines appears to have been a factor in a partial rotation that showed signs of a start last summer, from some growth technology companies to value stocks, including industrials.

Among those industrials are infrastructure stocks that can benefit if Congress passes an infrastructure bill.

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Infrastructure legislation has been discussed for years, but could actually happen in 2021.

President-elect Joe Biden’s campaign included a $ 2 trillion infrastructure agenda, and some congressmen are now using the “i-word” because the deteriorating condition of the country’s roads and bridges is now critical. According to the American Road & Transportation Builders Association, Americans crossed structurally defective bridges 174 million times a day in 2018 alone – and little has been done to improve them since then.

Even if Congress fails to act, infrastructure inventories are already being boosted by rising spending on private infrastructure – ports, renewables, and communications equipment – which set a North American record of $ 226.5 billion in 2019, up from an all-time high in 2020.

Infrastructure companies are already benefiting. In the seven weeks between November 4 (the day after the election) and December 22, the Indxx US Infrastructure Development Index rose 8.04% – about 1 percentage point more than the S&P 500.

A new freeway under construction in Birmingham, Alabama.

Dan Reynolds Photography | Moment | Getty Images

Today, infrastructure also refers to IT / tech infrastructure, which also includes semiconductors. While growth in big tech stocks has recently flattened, the MVIS US Listed Semiconductor 25 Index rose 20.5% over the same seven-week period. Semiconductor companies, whose merchandise ranges from internet-connected fridges to electric cars, are deployed in data centers to handle the growing internet traffic caused by the 5G data tsunami.

Investors, who are likely to get good stock returns in 2021, will continue to be dismayed by the scarce returns on corporate and government bonds as they attempt to diversify their portfolios with uncorrelated investments to reduce risk.

However, they may be able to solve this problem with alternative forms of bonds and bond-like investments which, while currently advantageous, are likely to be under your radar. These include:

• Taxable municipal bond funds. Due to the Tax Cut and Employment Act of 2017, state and local governments and agencies are refinancing tax-free Muni bonds with taxable bonds – a scratch for some as Muni bonds are synonymous with “tax-free”.

To attract investors, some issuers pay substantial returns, resulting in fund returns of 5% to 6%. For many investors, this translates into an after-tax return of around 3.5%, compared to 2% on many tax-free Muni bonds or the taxable returns of 2% to 3% on high-quality corporate bonds. The interest rate risk of taxable munis is roughly the same as that of tax-free issues.

Some investors may be concerned about the solvency of issuers due to financial problems related to pandemics, but the federal government has a long history of bailing out local governments in dire straits.

• floating rate preference equity funds (also known as floating rate funds). As a kind of bond-stock hybrid, preferred stocks can serve as a viable, higher-paying alternative to bonds, but with less volatility than common stocks. With floating rate preferred stock funds, investors can get some protection against rising interest rates – an effective selling point, as interest rates can only go up. The current dividend yields of the funds range between 4% and 5%.

More recently, some companies have begun offering fixed to floating rate preferred stocks that offer a fixed rate of return for a specific term and then are floating at the applicable interest rates. Some newer issues have fixed rates of up to 4% which are later converted into floating rates tied to the London Interbank Offered Rate or 10 year government bonds. However, a different benchmark can be used for future issues.

As always, the devil is in the details: the length of the fixed term, the range of variability and the behavior of the reference interest rate. Active management is important in all preferred stock investments as managers can avoid the negative return problems inherent in the indices.

• Bank loans or senior loan funds. Investors with a little more risk tolerance might be interested in these fixed income funds that buy commercial loans. While borrowers may have sub-investment grade loans, this risk is offset by the loans’ senior debt status, which means that the fund holdings pay out ahead of other forms of debt and shareholders.

Some of these mutual funds pay more than 6% annually but may have redemption restrictions. Exchange traded funds in this category are less complicated, of course, but they pay less – around 4%. Again, active management helps as managers can avoid bad loans in indices.

Using these unconventional solutions may require some study, but individual investors learning their dynamics can achieve significantly higher returns than traditional fixed income vehicles while still having sufficient levels of comfort.