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☆ Social Security Administration Commissioner: Congress needs to act in order to avoid the shortfall
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial Security Administration Commissioner: Congress needs to act in order to avoid the shortfallSocial Security Administration Commissioner Martin O’Malley joins 'Squawk Box' to discuss the challenges facing the agency, staffing shortages at the SSA, the future of social security, and more.

Persons: Martin O’Malley Organizations: Social Security, Social, SSA

☆ China stock market: Calm returns after wild week but big challenges remain
▼ + stars: | 2024-01-26 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —It’s been a rollercoaster week for stocks trading in mainland China and Hong Kong. “For a sustained rally in China stocks, we think China will need to address the core of these concerns (predominantly property sector issues and US-China tensions),” the analysts added. In the 7 days to January 24, exchange-traded funds (ETFs) tracking Chinese stocks recorded large inflows of $12.6 billion, according to a Citi survey of global fund managers. Still, investors have been fleeing Chinese stocks over a much longer period because they are worried about the country’s economic prospects. The country is facing the prospect of a vicious cycle whereby lower demand leads to lower investment, lower production and lower income, thus causing even lower demand.

Persons: Hong Kong CNN — It’s, Hong, — haven’t, ” Nomura, “, Li Qiang, ”, Li Yunze, Pan Gongsheng, Florence Lo, HSI, Raymond Yeung, ” Yeung Organizations: Hong Kong CNN, Shanghai Shenzhen, ”, Shanghai Financial Exchange, Bloomberg, State, Supervision, Administration Commission, Administration of Financial, Reuters, People’s Bank of China, Citi, Enodo Economics, HSBC, Greater China, ANZ Research Locations: China, Hong Kong, Shanghai, United States, Beijing, Davos, Switzerland, Greater

☆ Pfizer says no major tornado damage to drug manufacturing areas of North Carolina facility
▼ + stars: | 2023-07-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

In this aerial image, damage is seen to a Pfizer pharmaceutical factory after a tornado hit the facility two days earlier, on July 21, 2023 in Rocky Mount, North Carolina. Pfize r on Friday said there does not appear to be major damage to the drug manufacturing areas of its plant in Rocky Mount, North Carolina, after a tornado hit the facility two days earlier. The North Carolina plant is closed while Pfizer and both local and federal authorities further evaluate the damage. It's one of 10 Pfizer manufacturing sites in the country. Pfizer also noted that it is working closely with Food and Drug Administration Commissioner Robert Califf, North Carolina Gov.

Persons: it's, Robert Califf, Roy Cooper, Califf Organizations: Pfizer, Food and Drug, North Carolina Gov, FDA Locations: Rocky Mount, North Carolina, U.S, North

☆ Pirelli: Italy ties China's hands over fears about chip technology
▼ + stars: | 2023-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Italy has imposed several curbs on Pirelli’s biggest shareholder, Sinochem, in a move aimed at blocking the Chinese government’s access to sensitive chip technology. The government order risks inflaming tensions between Europe and Beijing, and follows similar intervention by Germany and the United Kingdom to protect their semiconductor technology. The order sets a host of limitations on Sinochem’s involvement in Pirelli, including a bar on it devising the company’s strategy and financial plans, or appointing a CEO. It requires that Pirelli refuse any requests from Sinochem’s owner — China’s State-owned Assets Supervision and Administration Commission of the State Council — for information sharing, including any information connected to the “know-how” of proprietary technologies. Separately, Rome is also assessing whether to renew its partnership with Beijing on the Belt and Road Initiative — China’s global infrastructure and investment megaproject.

Persons: Pirelli, Antony Blinken, Sinochem, Pirelli’s, —, — Laura Organizations: London CNN —, ASML, CNN, Pirelli, Union, Supervision, Administration Commission, State, AstraZeneca, Financial Times, Sequoia Capital, European Commission, Reuters Locations: London CNN — Italy, Europe, Beijing, Germany, United Kingdom, Netherlands, China, Ukraine, — China’s, Rome, Italy, Hong Kong

☆ Chinese EV maker Nio invests in nuclear fusion startup
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, May 19 (Reuters) - Chinese electric vehicle maker Nio (9866.HK) has invested in a startup firm that is developing fusion technologies, according to a source with direct knowledge and a company filing, placing more bets in other areas of the energy sector. The newly established company, Neo Fusion, will research and develop technologies that aim to bring controlled fusion for commercial uses globally in two decades, the source said. Nio invested 995 million yuan for a 19.9% stake while Nio Capital, the investment firm founded by Nio's chief executive William Li, invested 505 million yuan for a 10.1% share, it showed. The investment by Nio also underscored the loss-making EV maker's ambitions in the power and energy sector. It has also been developing battery technologies and is planning to build a battery plant with annual capacity of 40 gigawatt hours in Hefei city in Anhui province, Reuters reported previously.

☆ China urges giant state firms to be tech 'pillars' in self-reliance drive
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

China aims to turn some state giants into leading tech companies with global influence, the science and technology ministry said, following a meeting with the state-owned Assets Supervision and Administration Commission. State firms controlled by the central government should play the role of "pillars" in "achieving China's high-level tech self-reliance and self-improvement," Wang Zhigang, the minister for science and technology, was quoted as saying in a statement. Big state firms should boost investment in basic research, attract more talent, strengthen technological innovation and deepen ties with universities and research institutions, he added on Wednesday. However, analysts say China's private firms are more innovative than state firms that dominate strategic industries and tend to receive more state subsidies. China has unveiled a "new whole-nation system", drawing on its political system to pool national resources to support tech projects and break the foreign "stranglehold", drawing on past successes in developing nuclear bombs in the 1960s.

☆ China may have to bail out one of its poorest provinces
▼ + stars: | 2023-04-27 | by ( Laura He | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —One of China’s poorest and most indebted provinces has admitted defeat in trying to sort out its finances and is appealing to Beijing for help to avert default. Guizhou, located in a mountainous region of southwest China, has hired a top state-owned distressed debt fund, China Cinda Asset Management, to resolve its “urgent” problems. China’s local governments are struggling with trillions of dollars of debt, after three years of strict pandemic controls and a real estate crash drained their coffers. The Pingtang Bridge links two cities in southwest China's Guizhou province. In China, most local government liabilities are composed of “hidden debt” issued by their financing arms.

☆ Health misinformation is lowering U.S. life expectancy, FDA Commissioner Robert Califf says
▼ + stars: | 2023-04-11 | by ( Meg Tirrell | ) www.cnbc.com time to read: +5 min

watch nowLife expectancy in the U.S. is between three and five years lower than the average in other high-income countries — and the gap comes in part from misinformation, Food and Drug Administration Commissioner Dr. Robert Califf said. He said there's a need for better regulation, including "specific authorities at FDA, FTC and other areas" to root out misinformation. Food and Drug Administration Commissioner Robert Califf testifies before a Senate Health, Education, Labor, and Pensions hearing to examine an update on the ongoing Federal response to COVID-19, at the U.S. Capitol in Washington, U.S., June 16, 2022. The FDA commissioner spoke about multiple topics including efforts to cut drug prices, a priority for the Biden administration and lawmakers from both parties in Congress. Incentives for researchCaliff is also encouraging the drug industry to consider investments in neglected areas of research.

☆ Factbox: Chinese chipmaking equipment manufacturers filling void left by U.S. export restrictions
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +5 min

Naura's most advanced etching machine supports 55 nm and 28 nm chipmaking technology, well behind the leading edge of chip manufacturing. The firm also makes deposition machines, which apply chemicals and gases to silicon wafers throughout the chipmaking process. It produces machines that can service the 14 nm to 28 nm process nodes of its deposition machines. ADVANCED MICRO-FABRICATION EQUIPMENT INC CHINA (AMEC) (688012.SS)AMEC makes etching equipment used to remove excess material from the surface of silicon wafers. BEIJING E-TOWN SEMICONDUCTOR TECHNOLOGY CO LTD (BEST)BEST produces degumming equipment used to remove photoresist chemicals during the lithography process.

☆ Enel Peru says state-run Chinese power firm eying possible purchase
▼ + stars: | 2023-02-24 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

LIMA, Feb 24 (Reuters) - The Peruvian unit of Italy's biggest power utility, Enel (ENEI.MI), said on Friday that state-owned China Southern Power Grid is carrying out "due diligence" on the local unit for a possible purchase offer on its energy distribution operations. Bloomberg reported earlier on Friday that the Chinese firm is weighing a possible bid for Enel's distribution business in Peru, which it said could be valued at some $3 billion. The Guangzhou-based power company's owner, state-owned Assets Supervision and Administration Commission of the State Council (SASAC), did not immediately respond to a request for comment. Part of that announcement included the plan to put up for sale Enel Peru's distribution and generation assets, which the state-controlled firm said was already under way at the time. On Friday, shares of Enel Distribucion Peru rose 25% on Lima's main stock exchange.

☆ David Kessler, top health official for Covid vaccines, to leave Biden administration
▼ + stars: | 2023-01-13 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

David Kessler, a key official in the Biden administration's Covid vaccine and treatment efforts, is stepping down from his role as chief science officer, the Department of Health and Human Services announced Friday. Since January 2021, Kessler has played a leading role in the development and roll out Covid vaccines. Kessler, 71, is the latest Covid response official to step down at President Joe Biden's two-year mark in office. The Biden administration and health officials have had to combat misinformation and conspiracy theories about Covid vaccines during their rollout. The latest figures from the Centers for Disease Control and Prevention show that 78.8% of U.S. adults have completed their primary series of Covid vaccines.

☆ FDA Commissioner Denies Wrongdoing in Approval Process for Biogen Alzheimer’s Drug Aduhelm
▼ + stars: | 2023-01-11 | by ( Liz Essley Whyte | ) www.wsj.com time to read: +1 min

FDA Commissioner Robert Califf says a high level of interaction between agency officials and drug companies helps cut down on applications for drugs that don’t work. U.S. Food and Drug Administration Commissioner Robert Califf defended his agency’s decision to approve the Alzheimer’s drug Aduhelm, after an investigation by House Democrats found close cooperation between the drug’s sponsor and regulators. Findings released late last year from the then-Democratic-led Oversight and Reform Committee and the Energy and Commerce Committee faulted the FDA for holding an unusual number of meetings with Biogen Inc. while it weighed approval of Biogen’s Alzheimer’s treatment, Aduhelm, as well as for co-authoring with the company a briefing document presented to outside advisers. The FDA granted preliminary approval to Aduhelm in 2021, but Medicare officials refused to cover it routinely, dooming the company’s plans for profits.

☆ Former U.S. President Clinton tests positive for COVID
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Former U.S. President Bill Clinton said in a tweet on Wednesday that he has tested positive for COVID-19 and experiencing mild symptoms. "I'm grateful to be vaccinated and boosted, which has kept my case mild," he said. loadingFew weeks ago, U.S. Centers for Disease Control and Prevention (CDC) director Rochelle Walensky and U.S. Food and Drug Administration Commissioner Robert Califf had also tested positive with COVID symptoms. Reporting by Akriti Sharma and Khushi Mandowara in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Sen. Lisa Murkowski has won re-election in Alaska, NBC News projected Wednesday, dealing former President Donald Trump another loss in what has largely been a miserable midterm cycle for his hand-picked candidates in competitive Senate races. Murkowski, one of only seven Republicans who voted to convict Trump at his second impeachment trial, survived a challenge from Trump-endorsed Kelly Tshibaka, a former Alaska Department of Administration commissioner. Murkowski, Tshibaka, Democrat Patricia Chesbro and Republican Buzz Kelley all advanced from a nonpartisan August primary. The Alaska Republican Party censured her and Trump began calling her the “disaster from Alaska,” ultimately backing Tshibaka to challenge her. Murkowski also is known for her moderate profile in the Senate and for her willingness to work with Democrats.

☆ Millions of retirees are about to get a $140 monthly raise from Social Security to help deal with how expensive everything has gotten
▼ + stars: | 2022-10-13 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

That adjustment will put over $140 more a month in retirees' social security checks. Social security checks are tied to cost-of-living hikes from the third quarter of one year to another. "Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room,"Acting Social Security Administration Commissioner Kilolo Kijakazi said in a release. "Seniors deserve increases in their Social Security checks to keep up with risings costs — this year, and every year. Democrats are fighting to protect and expand Social Security, funded by the wealthy paying their fair share," Warren tweeted on Thursday.

☆ Here's why Biogen's promising Alzheimer's drug data is also good news for Eli Lilly
▼ + stars: | 2022-09-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

The move helped Eli Lilly notch a fresh 52-week high Wednesday, the only stock in the S & P 500 to do so. Bottom line Biogen's topline data appears to be encouraging, suggesting the Alzheimer's drug helped slowed cognitive decline. Plus, we think Eli Lilly has more going for it overall than Biogen, making it a more attractive investment. Drug background Like Biogen's Alzheimer's drug lecanemab, Lilly's donanemab is an antibody that tries to reduce buildup on the brain of the amyloid beta protein . The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ Factbox: One last test for Trump's U.S. midterm election endorsements
▼ + stars: | 2022-05-01 | by ( ) www.reuters.com time to read: +8 min

But because neither candidate won 50% of the vote, they face off again on Tuesday in a run-off election. Following Trump's endorsement, he surged in opinion polls and easily defeated former North Carolina Governor Pat McCrory in the May 17 primary. David Perdue* Went up against Georgia's incumbent Republican Governor Brian KempDespite Trump's endorsement, former U.S. Senator David Perdue did not come close to upsetting Georgia's incumbent Republican Governor Brian Kemp in the party's nomination contest. Kemp, who had angered Trump by dismissing the former president's false statements about election fraud in the 2020 presidential contest, won his re-election bid against Democrat Stacey Abrams.

☆ Farmaceuticals: Vets face pressures to prescribe
▼ + stars: | 2014-09-15 | by ( Brian Grow | Reuters Graphic | ) www.reuters.com time to read: +29 min

The feed tickets examined represent a fraction of the tens of thousands issued annually to poultry farms run by or for major producers. Some of its feed has contained low levels of one antibiotic, feed tickets show. REUTERS/Randall Hill MODERN BARN: Nearly 20,000 broiler chicks are housed inside a Foster Farms chicken ranch in Stanislaus County, California. As the CDC studied what investigators informally called the “Foster Farms Outbreak,” researchers soon made a troubling discovery. Reuters asked to see Foster Farms’ feed tickets from that period; the company didn’t respond to that request.

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