BioNTech says it will start cancer vaccine trials in the UK from September

US Top News and Analysis 

A NHS vaccinator administers the Pfizer-BioNTech Covid-19 booster jab to a woman, at a vaccination centre in London. BioNTech is launching a large-scale trial of mRNA therapies to treat cancer and other diseases in the U.K.
Sopa Images | Lightrocket | Getty Images

LONDON — The U.K. government on Friday announced a partnership with German firm BioNTech to test potential vaccines for cancer and other diseases, as campaigners warned any breakthrough must remain affordable and accessible.

Cancer patients in England will get early access to trials involving personalized mRNA therapies, including cancer vaccines, which aim to spur the immune system to attack harmful cells.

They will be administered to early and late-stage patients and target both active cancer cells and preventing their return.

BioNTech will set up new research and development centers in the U.K., with a lab in Cambridge and headquarters in London, and aim to deliver 10,000 therapies to patients from September 2023 until the end of the decade.

The company developed one of the most widely-distributed Covid-19 vaccines alongside U.S. pharma firm Pfizer. Its CEO, Ugur Sahin, said it had learned lessons from the coronavirus pandemic about collaboration between the British National Health Service, academics, regulators and the private sector in the development of drugs that it was applying now.

“Our goal is to accelerate the development of immunotherapies and vaccines using technologies we have been researching for over 20 years,” he said in a statement. “The collaboration will cover various cancer types and infectious diseases affecting collectively hundreds of millions of people worldwide.”

Peter Johnson, Britain’s National Clinical Director for Cancer, said mRNA technology had the potential to transform approaches to a number of illnesses.

The government confirmed to CNBC the announcement represented a private investment into the U.K., but would be supported by a new Cancer Vaccine Launch Pad funded by the NHS.

VIDEO4:3604:36
Moderna CEO Stéphane Bancel on promising new data for mRNA cancer vaccine

Other mRNA cancer vaccines, including a collaboration between U.S. firms Moderna and Merck, are also being trialed.

Tim Bierley, a campaigner at U.K.-based group Global Justice Now, said big pharmaceutical companies had “terrible record of price gouging on new medicines, even where public money has played a key role in bringing them to the market.”

“The government has a moral duty to push BioNtech to set the price of this potentially life-saving vaccine so it is accessible to all,” he said.

Mohga Kamal-Yanni, policy co-lead for the People’s Vaccine Alliance — a global group of health organizations, economists and activists — said news of the trial was good, but that any outcome “belongs to the people” due to the amount of public funding involved.

“The U.K. government must say how it will ensure any new medicine, vaccine or technology will be made available and affordable to developing countries,” Kamal-Yanni said.

A government spokesperson told CNBC the research was at too early a stage to discuss pricing and distribution, but pointed to its record in distributing free Covid-19 vaccines.

Read More 

World Food Prices Hit Record High in 2022

USA – Voice of America 

World food prices fell for a ninth month in a row in December, though they hit their highest level on record for the full year in 2022, UN data showed Friday.

Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world.

A Russian naval blockade that prevented Ukrainian grain exports was lifted following a deal in July brokered by Turkey and the United Nations.

The Food and Agriculture Organization said Friday its price index, which tracks the monthly change in international prices of a basket of food commodities, fell to 132.4 points in December, a 1.9 percent drop from November.

It was also one percent lower than in December 2021.

But the index was 14.3 percent higher overall in 2022 compared to the previous year as it reached an all-time high of 143.7 points.

“Calmer food commodity prices are welcome after two very volatile years,” FAO chief economist Maximo Torero said in a statement.

“It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels,” he said.

Torero said many staples are near record highs, with prices of rice rising and “still many risks associated with future supplies”.

Read More 

Nonfarm payrolls rose 223,000 in December, as strong jobs market tops expectations

US Top News and Analysis 

Payroll growth decelerated in December but was still better than expected, a sign that the labor market remains strong even as the Federal Reserve tries to slow economic growth.

Nonfarm payrolls increased by 223,000 for the month, above the Dow Jones estimate for 200,000, while the unemployment rate fell to 3.5%, 0.2 percentage point below the expectation. The job growth marked a small decrease from the 256,000 gain in November, which was revised down 7,000 from the initial estimate.

Wage growth was less than expected in an indication that inflation pressures could be weakening. Average hourly earnings rose 0.3% for the month and increased 4.6% from a year ago. The respective estimates were for growth of 0.4% and 5%.

By sector, leisure and hospitality led with 67,000 added jobs, followed by health care (55,000), construction (28,000) and social assistance (20,000).

Stock market futures rose following the release as investors look for signs that the jobs market is cooling and taking inflation lower as well.

The relative strength in job growth comes despite repeated efforts by the Fed to slow the economy, the labor market in particular. The central bank raised its benchmark interest rate seven times in 2022 for a total of 4.25 percentage points, with more increases likely on the way.

Primarily, the Fed is looking to bridge a gap between demand and supply. As of November, there were about 1.7 job openings for every available worker, an imbalance that has held steady despite the Fed’s rate hikes. The strong demand has pushed wages higher, though they mostly haven’t kept up with inflation.

This is breaking news. Please check back here for updates.

Read More 

A portrait of one of the few young, female truckers in France

Feature · arts

A portrait of one of the few young, female truckers in France

Amélie, 23, drives a route between France and Spain twice a week. Her truck is an important part of her identity — which photographer Yohanne Lamoulère captured in this portrait.

In Snap, we look at the power of a single photograph, chronicling stories about how both modern and historical images have been made.
Amélie and Jéremy, photographed in August 2021. Amélie is one of the few female truck drivers in France.

Amélie and Jéremy, photographed in August 2021. Amélie is one of the few female truck drivers in France. Credit: Yohanne Lamoulère/Forum Vies Mobiles/Tendance Floue

A young couple embraces in front of the grill of a 750-horsepower Volvo truck, their cream and beige ensembles matching the commercial vehicle’s slick exterior. They pose for the camera, her face partially obscured by the playful roundness of her pantsuit’s tulle shoulder pouf.

While the photograph might evoke the image of young lovers on the road, they aren’t on it together. Amélie Riquelme, who is 23 years old and grew up in Arles, France, is the truck’s driver; she works in an industry that has long struggled to attract women and young people, with the shortage of drivers becoming a critical issue critical issue amid drastic global shortages. Less than 3% of truck drivers in Europe — and the world — are female, according to a 2022 survey by the International Road Transport Union (IRU), and few young people are filling the shortfalls widened by the Covid-19 pandemic. The European Union’s average driving age ranks the highest in the world, at 47.

Amélie works for her family’s transport company. At the time photographer Yohanne Lamoulère met her in 2019, she was driving from Arles to Castellón, Spain, and back at least twice a week, Lamoulère explained over email. The busy route is around 850 miles, or roughly 1365 kilometers total.

The company was founded by her grandfather and employs many of her family members in various capacities, as well as her former partner, Jérémy, pictured with her above.

They were newly engaged in the photograph, taken in August 2021, but have since ended their relationship.

A sense of drive

Lamoulère’s work often explores life on the outskirts of major French cities, and the aspirations of the people who live there. The photographer, whose uncle is also a trucker, met Amélie at a truck show in southeastern France where drivers decorate their vehicles for a competition. She was drawn to the younger girl’s sense of determination and drive. Amélie had left her cosmetology studies to pursue a career in trucking, following in her father and grandfather’s footsteps.

“Amélie is a very organized girl. When I met her, she was only 20 years old and already described her life in a very planned, constructed way,” Lamoulère said. “She is also wildly free-spirited and very amusing.”

Though Lamoulère photographed Amélie’s life at various points over a period of two years, this snap was particularly momentous: During her sister Lucie’s farmhouse wedding — with an all-white dress code and the family trucks included in the wedding procession — Jérémy and Lucie conspired to surprise Amélie: in lieu of the traditional bouquet toss, Lucie handed it directly to Amélie, and Jérémy proposed.

Lamoulère then shot her portrait of the newly-engaged couple in front of Amélie’s truck, the bouquet placed on the dashboard above their heads.

The image is part of the series, “Les Vies qu’on mène,” or “The Lives We Lead,” by the French photography collective Tendance Floue. The body of work, about daily life around France, has been made into both a book of the same name and an exhibition in Paris at Cité Internationale des Arts. It was also shown at the international photography fair Paris Photo in the fall.

Though the couple is no longer together, Lamoulère loves the portrait for its emotional resonance, as well as for its embodiment of Amélie’s independent spirit. She said it’s rare to see a young woman “aboard monsters like Amélie’s truck” and finds it “very beautiful” to see her forge her own path. For the trucking industry to survive, more people like Amélie will need to fill the drivers’ seats.

source

Buy Lululemon, a ‘rare name with momentum’, Wells Fargo says in upgrade

US Top News and Analysis 

It’s time for investors to buy shares of Lululemon Athletica , according to Wells Fargo. Analyst Ike Boruchow upgraded the athletics apparel and accessories stock to overweight, calling the it a defensive and “rare name with momentum” poised to outperform on the top line this year. “LULU’s top-line resilience in the past few years has been nothing short of stunning, with 2022E’s topline expected to be essentially double 2019 levels,” he wrote in a note to clients Friday. “We expect the company’s top line can remain more resilient across our softlines space” as it benefits from innovation, store expansions and continues positioning itself as a full-price direct-to-consumer brand. Shares of Lululemon gained about 2% before the bell Friday. Boruchow also upped the bank’s price target on shares to $380 from $360, meaning they could gain almost 17% from Thursday’s close. The stock fell more than 18% in 2022. Boruchow said that Lululemon’s valuation looks reasonable and offers a “compelling entry point” for investors, with multiples trading well below their historic average over the past few years. He also cited easing freight pressures and better margin visibility as another catalyst for Lululemon going forward. “With freight now expected to be a +50bp tailwind in FY22, we expect it can remain a tailwind looking to FY23, lending optimism for [gross margin] expansion into next year,” he wrote. “With LULU not a markdown-driven model, we see more visibility than most on the margin front looking to next year.” In the same note, Boruchow downgraded shares of Ulta Beauty to underweight, saying tat he expects demand to dwindle following a steady stream of growth. Costs pressures will likely also mount as Ulta revamps supply chains and ups IT investments. He trimmed the bank’s price target to $400 a share, implying 18% downside from Thursday’s close. The stock outperformed in 2022, rising nearly 14%. Shares dipped about 2% before the bell Friday. — CNBC’s Michael Bloom contributed reporting

Read More 

Biden announces new program to curb illegal migration as he prepares for visit to border

The announcement was made as the Departments of Homeland Security and Justice released details of a plan to impose a new regulation — a version of a Trump-era policy often called the “transit ban.” Under the new rule, migrants would be prohibited from applying for asylum in the United States unless they were first turned away for safe harbor by another country. It would also deem ineligible migrants who don’t go through authorized ports of entry. DHS and DOJ will hear public comment on the proposed regulation before it goes into effect.

Biden said the new details announced Thursday “won’t fix our entire immigration system but they can help us a good deal in better managing what is a difficult challenge.” He added: “Until Congress passes the funds, a comprehensive immigration plan to fix the system completely, my administration is going to work to make things at the border better using the tools that we have.”

The president also confirmed plans for his first visit to the U.S.-Mexico border since taking office. Biden said he will visit El Paso, Texas, on Sunday to “assess border enforcement operations” and “meet with local officials.” The visit comes ahead of his trip to Mexico City for the “Three Amigos” summit with his Canadian and Mexican counterparts.

The moves reflect the Biden administration’s latest venture to combat a migration surge straining the U.S. immigration system. They also come as the president faces growing criticism from both Republicans and Democrats on border issues.

The topic has intensified for the Biden administration in recent weeks as officials prepared for a court-ordered end to Title 42 limits, only to see the Supreme Court temporarily block lifting the policy. But regardless of the Trump-era policy’s fate — set to be decided by the high court later this year — the southern border is facing a record-breaking migration influx likely to remain a key policy issue throughout Biden’s presidency.

Biden referenced a plan he put forth in the early days of his presidency to overhaul the “broken immigration system,” including policy to crack down on illegal immigration and protect recipients of the Deferred Action for Childhood Arrivals and other “Dreamers” brought to the U.S. illegally as children by their family. The president called out Republicans for rejecting his proposal and his requests for additional funding.

“Our problems at the border didn’t arise overnight and are not going to be solved overnight. It’s a difficult problem. It’s clear that immigration is a political issue that extreme Republicans are always going to run on,” he said. “But now they have a choice. They can keep using immigration to try to score political points or they can help solve the problem and come together to fix the broken system.”

The humanitarian parole program, effective immediately, builds upon the one rolled out solely for Venezuelans this fall, which created a narrow pathway for up to 24,000 migrants who have preexisting ties in the U.S., and people who could provide financial and other support. Implementation of the program, which deals with countries facing political and economic turmoil, is dependent on the use of the Title 42 authority to turn away those at the U.S.-Mexico border who don’t qualify.

Border agents have already turned away masses of Venezuelans using Title 42 authority over the past few months, and now they will do the same for Cubans, Haitians and Nicaraguans. Mexico has agreed to accept 30,000 migrants per month from the four countries, Biden said.

Migrants who cross unlawfully into Panama or Mexico will be also deemed ineligible for the program, in an attempt to discourage people from taking the dangerous journey through the Darien Gap.

The program for Venezuelans, announced in October 2022, forces migrants to apply for asylum from their home country, while expelling those who tried to enter the U.S. unlawfully from Mexico. Venezuelans who were approved for humanitarian parole were allowed to enter the U.S. by air. The number of those migrants crossing illegally has dropped 70 percent, falling from about 21,000 in October to 6,200 in November, according to latest U.S. Customs and Border protection data.

Alongside additional legal pathways and deterrence, the administration is continuing its preparation for the end of Title 42 limits, Biden said Thursday. The administration is working to counter cartels and human smuggling networks, while surging resources like personnel, transportation, medical support and facilities to support border officials. Border cities and other jurisdictions receiving a large number of migrants will also receive additional funding and support, Biden said Thursday. DHS plans to expand outreach to state and local officials.

These steps come as Democratic-led cities dealing with migrants bused in from the southern border pleaded with the White House this week to help them manage an influx that has already overloaded community resources. Republicans have also called on the administration to do more, with Sen. Marco Rubio (R-Fla.) and Republican Gov. Ron DeSantis pointing out the high levels of Cuban and Haitian migrants in South Florida.

New York Mayor Eric Adams said Biden has been listening to appeals by him and fellow Democratic mayors of Chicago and Washington, D.C. “and he realizes that there are things we must do.”

“And I just don’t believe this is the end of the sentence. This is a comma. We need to continue that sentence so it ends with an exclamation point, and we have resolved our decade of border crisis,” he said.

But Texas Gov. Greg Abbott, a Republican, called Biden’s plan a “band-aid for a historic flood.”

While Thursday’s announcements could temporarily help the administration tackle the record number of people fleeing to the U.S., the president’s speech was met with swift condemnation from immigration reform advocates and lawyers who decry any expansion of Title 42, which has allowed border agents to immediately expel millions of migrants on public health grounds without considering their claims for asylum. For days, administration officials have been weighing the political consequences of doubling down on public health policy.

Sen. Bob Menendez (D-N.J.) slammed the moves on Thursday. He said while he approved of the administration’s decision to increase access to parole for a small number of migrants, “this benefit will exclude migrants fleeing violence and persecution who do not have the ability or economic means to qualify for the new parole process.”

“The Biden Administration’s decision to expand Title 42, a disastrous and inhumane relic of the Trump Administration’s racist immigration agenda, is an affront to restoring rule of law at the border,” Menendez said in a statement. “I am deeply disturbed that instead of working with Congress to develop a solution to the multiple humanitarian crises that are fueling mass migration in our hemisphere, the Administration is circumventing immigration law which will exacerbate chaos and confusion at the Southern border.”

Coupling this action with the resurrection of a policy similar to the Trump-era transit ban put the administration in defensive mode to ward off criticism among Democrats and immigrant advocates. Menendez said the decision to move forward with an “unlawful” transit ban “erases the words and values etched on the Statue of Liberty.”

Homeland Security Secretary Alejandro Mayorkas, at a press conference that immediately followed Biden’s, repeatedly said the new policy has “no resemblance” to the previous administration’s transit ban because DHS has also introduced lawful pathways.

He also further detailed plans to expand Title 8 border processing in anticipation for the end of Title 42 restrictions. Title 8 would allow the government to quickly remove from the country anyone unable to establish a legal basis — such as an approved asylum claim. These migrants would be subject to a five-year reentry ban.

“I think rather than see this as restricting individuals’ abilities to seek asylum, you should see this as managing the border in an orderly and humane way, while also expanding these pathways with the parole program,” one administration official said Thursday when asked about potential blowback to the announcements.

Marianne LeVine, Erin Durkin and Gary Fineout contributed to this report.


source

The suspect charged in the death of rapper Takeoff has been released from jail after paying the $1 million bond



CNN
 — 

The suspect charged with murder in the death of Migos member Takeoff posted the $1 million bond set for him and was released from jail Tuesday, according to CNN affiliate KPRC.

In December, Harris County Judge Josh Hill kept Patrick Xavier Clark’s bond at $1 million, denying a reduction, reasoning that Clark may be a flight risk.

“Neither Patrick nor his family posted the bond in this case. A concerned citizen and family friend who believes in Patrick’s innocence posted the bond on his behalf,” his attorney Letitia Quinones said in a statement.

Clark “intends to comply fully” with the terms laid out by the court, Quinones said, and “will appear for proceedings whenever the court requires him to do so.”

“We believe Patrick is innocent and at the appropriate time, the evidence will reveal that to be the case,” Quinones said.

Clark, 33, was arrested early December on the east side of Houston, one month after Takeoff was shot and killed outside a business after a private event.

Takeoff, who was a member of the platinum-selling rap group Migos, was 28. His uncle Quavo and cousin Offset were the other two members of the trio.

Police believe Takeoff was an innocent bystander to an argument that took place outside a bowling alley that led to the shooting. He was unarmed and not involved in the argument.

After Judge Hill denied Clark’s bond reduction request in December, Quinones argued that the $1 million bond was unconstitutional due to Clark and his family’s financial situation being “average.”

Prosecutors in Harris County had argued Clark should be considered a “flight risk.”

Patrick Xavier Clark seen during a court appearance on December 14, 2022, in Houston.

Shortly after the killing, Clark allegedly applied for an expedited passport, which he received immediately before his arrest, according to the motion filed by prosecutors. When Clark was arrested, he had a “large amount of cash money,” the court document added.

Prosecutors also made several other requests, including that Clark surrender “any and all passports, visas, or other travel documents,” be barred from leaving the immediate vicinity of Harris County and be subject to a curfew.

Quinones said in a news conference at the time that her office was “surprised” by the decision.

“We complied with every requirement that the judge asked of us, only to be told today that it [the bond] would not be lowered. So yes, we are very disappointed. We disagree. And frankly, we’re very surprised,” Quinones said.

“The fight is not over. We do believe without a shadow of a doubt that when the time comes, we will be able to show Mr. Clark’s innocence in this,” Quinones said.

source

Samsung estimates quarterly profit sank to 8-year low on demand slump


Seoul
Reuters
 — 

Samsung Electronics flagged on Friday its quarterly profit tumbled to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

Profits at the world’s largest memory chip, smartphone and TV maker are expected to shrink again in the current quarter, analysts said, after Samsung announced its October-December operating profit likely fell 69% to 4.3 trillion won ($3.37 billion) from 13.87 trillion won a year earlier.

It was Samsung

(SSNLF)
’s smallest quarterly profit since the third quarter of 2014 and fell short of a 5.9 trillion won Refinitiv SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

“All of Samsung’s businesses had a hard time, but chips and mobile especially,” said Lee Min-hee, analyst at BNK Investment & Securities.

Quarterly revenue likely fell 9% from the same period a year earlier to 70 trillion won, Samsung said in a short preliminary earnings release. Asia’s fourth-biggest listed company by market value is due to release detailed earnings later this month.

Rising global interest rates and cost of living have dampened demand for smartphones and other devices that Samsung makes and also for the semiconductors it supplies to rivals including Apple

(AAPL)
.

“For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances,” Samsung said in the statement.

Its mobile business’ profit declined in the fourth quarter as smartphone sales and revenue decreased due to weak demand resulting from prolonged macroeconomic issues, Samsung added.

“Memory chip prices fell in the mid-20% during the quarter, and high-end phones such as foldable didn’t sell as well,” said BNK Investment’s Lee.

Three analysts said they expected Samsung’s profits to dive again in the current quarter, with a likely operating loss for the chips business as a glut drives a further drop in memory chip prices.

Samsung shares rose 0.3% in Friday morning trade, underperforming a 0.6% rise in the wider market. Shares of rival memory chip maker SK Hynix rose 1%.

“The reason shares are rising despite the poor earnings result is… investors are hoping Samsung will need to reduce production, like Micron or SK Hynix said they would, which would help the memory industry overall,” said Eo Kyu-jin, an analyst at DB Financial Investment.

Samsung had said in October that it did not expect much change to its 2023 investments. Analysts said that Samsung has a history of not announcing production cuts in memory chips, but could organically adjust investment by delaying bringing in equipment or through other ways.

source

Citi's Chronert says a recession is near; shares his 'top conviction calls' to tough it out

source