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☆ Insight: The meds they bought were toxic. Now Gambian parents seek justice
▼ + stars: | 2023-07-14 | by ( Edward Mcallister | ) www.reuters.com time to read: +8 min

Three Gambian lawyers said this is the highest profile case of its kind against the nation's health ministry and the drug regulator, as well as against Maiden itself. It adds that the regulator and the health ministry failed to ensure that drugs were prescribed "with the expected standard of care." Gambia's health ministry did not respond to requests for comment. By this stage, the Gambian health ministry had sent samples of the Maiden syrups abroad for testing. The drugs regulator, the Medicines Control Agency, which is part of the health ministry, did not respond to a request for comment for this story.

Persons: syrups, Maiden, vomited, Amie Jammeh, Mafugi Jassey, Mafugi, Jammeh, Loubna Farage, Jude Nwokike, Markieu Janneh Kaira, Kaira, Edward McAllister, Michele Gershberg, Sara Ledwith Organizations: Suit, Reuters, World Health Organization, WHO, Pharmaceuticals, EG, World Bank, Medicines, Pharmacopeia, Medicines Control Agency, Thomson Locations: Serekunda, Gambia, India, DAKAR, Indonesia, Uzbekistan, Senegal, Africa

☆ Australia appoints Michele Bullock as next central bank governor
▼ + stars: | 2023-07-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Australia has appointed Michele Bullock as the ninth governor of the Reserve Bank of Australia, the country's Treasury announced July 14. Australia has appointed Michele Bullock as the ninth governor of the Reserve Bank of Australia, the country's Treasury said Friday. Bullock, currently deputy governor of the central bank, becomes the first woman to lead the Australian central bank in its 63-year history, the Australian Treasury said in a statement. "I am committed to ensuring that the Reserve Bank delivers on its policy and operational objectives for the benefit of the Australian people." The RBA is Australia's central bank and banknote issuing authority.

Persons: Michele Bullock, Bullock, Philip Lowe, Lowe, Jim Chalmers Organizations: Reserve Bank of Australia, country's Treasury, Treasury, Australian Treasury, Reserve Bank Locations: Australia, Australian

☆ Australia's central bank loses chief to public ire over rates
▼ + stars: | 2023-07-14 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

Lowe's dedication to the bank is not in doubt, having joined straight from school in 1980. The first mainly impacted markets while the second, and more fateful, soured sentiment with the public and politicians. A later review found the event had caused the bank "reputational damage" and the policy was unlikely to be used again. Lowe's mistake in 2021 was to be too specific on timing by repeatedly saying rates were unlikely to rise until 2024. With prices rising rapidly, Lowe was forced to reverse course and hike rates in May, a whole two years earlier than forecast.

Persons: Philip Lowe it's, Lowe, I'm, we'd, Jim Chalmers, Chalmers, Lowe's, Michele Bullock, Bullock, Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, MIT, Reserve Bank, Thomson Locations: Australia, Lincoln

ATHENS/ROME, July 13 (Reuters) - Southern Europe sweltered under a fierce heatwave on Thursday, with a warning that temperatures could hit record highs for the continent next week. Health authorities issued a top, red alert warning for 10 Italian cities for the next two days, including Rome, Florence, Bologna and Perugia. Weather forecasts and official records are based on the air temperature which is significantly lower than the land surface reading. The record European temperature of 48.8C was registered in Sicily in August 2021 and could be exceeded next week, according to the European Space Agency. "With this solitude and this heat emergency, we see an explosive mix," he told a press conference.

Persons: Europe's sweltering, Luca Lombroso, Marco Impagliazzo, It's, Michele Kambas, Pietro Lombardi, Emma Pinedo, Keith Weir, Crispian Balmer, Emelia Organizations: Italian Meteorological Society, Health, Agency's Sentinel, European Space Agency, Catholic, Thomson Locations: ATHENS, ROME, Southern Europe, Islands, Italy, Cyprus, Greece, Athens, Europe's, Lodi, Rome, Florence, Bologna, Perugia, Spain, Extremadura, Sicily

Reuters reported last month that the cancer research arm of the World Health Organization (WHO), known as the International Agency for Research on Cancer (IARC), was set to make that declaration on July 14, according to two sources with knowledge of the process. The designation as "possibly carcinogenic to humans" will provide an incentive to fund more rigorous research into the safety question, toxicology and cancer experts say. "We have been pushing for an IARC review for many years now." But no action was taken until 2022, after aspartame was again nominated for review by CSPI and Melnick in 2019. The research body has said "new evidence" prompted its aspartame review, without giving any details.

Persons: Andy Smith, Smith, Coke, Peter Lurie, Lurie, James Huff, Ron Melnick, CSPI, There's, Samuel Cohen, Erik Millstone, Millstone, Jennifer Rigby, Michele Gershberg, Catherine Evans Organizations: Reuters, World Health Organization, WHO, International Agency for Research, Cancer, MRC, Unit, University of Cambridge, Cola's, Regulators, for Science, Joint Food and Agriculture Organization, U.S . National Institutes of Health, University of Nebraska Medical Center, University of Paris, Britain's University of Sussex, Thomson Locations: United States, U.S, France

☆ Australia cabinet will soon decide on next RBA governor - treasurer
▼ + stars: | 2023-07-12 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, July 12 (Reuters) - Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country's central bank, after local media reported that a government decision could be reached as early as this week. "Soon, I'll be taking to cabinet my recommendation for the appointment of the governor of the reserve bank. I don't want to front-run or pre-empt the timing or nature of that conversation with my colleagues," Chalmers told reporters. Chalmers added that the government has also held preliminary discussions with the opposition over the next RBA governor. But again, I don't want to pre-empt the conversation with my cabinet colleagues," Chalmers told ABC Radio.

Persons: Jim Chalmers, Chalmers, Philip Lowe's, Lowe, We've, Governor Lowe, Michele Bullock, Jenny Wilkinson, Renju Jose, Edmund Klamann Organizations: SYDNEY, Bank of Australia, Sydney Morning Herald, ABC Radio, Thomson Locations: India, Sydney

☆ Casino operator Melco eyes new markets with Cyprus resort launch
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

[1/4] Lawrence Ho, Chief Executive Officer and Chairman of Melco Resorts and Entertainment, speaks during a press conference at the City of Dreams Mediterranean, Europe's first integrated resort, outside Limassol, Cyprus July 11, 2023. REUTERS/Yiannis KourtoglouLIMASSOL, Cyprus July 11 (Reuters) - Asian casino operator Melco Resorts & Entertainment has launched an entertainment and gaming complex in Cyprus, marking its first foray into Europe as it seeks to tap new markets. The "City of Dreams Mediterranean" had total investment of more than 600 million euros ($659.46 million) making it one of the largest development projects of its kind undertaken in Cyprus. "City of Dreams Mediterranean ..allows Cyprus to unlock new markets in the region and beyond," said Lawrence Ho, chairman and CEO of Melco. Ho said Melco was now focused on fully developing the Cyprus project before considering whether to fan out to the rest of Europe.

Persons: Lawrence Ho, Ho, Melco, Michele Kambas, Sharon Singleton Organizations: Melco Resorts, Entertainment, REUTERS, Kourtoglou, Reuters, FIFA, Thomson Locations: Limassol, Cyprus, Kourtoglou LIMASSOL, Europe, Macau, Manila, Philippines, Israel, North Africa

☆ Migration pushes EU population back to growth in 2022
▼ + stars: | 2023-07-11 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Michele TantussiJuly 11 (Reuters) - The European Union's population rose for the first time in three years in 2022, boosted by migration into the bloc even as more people died than were born, the EU's statistics office Eurostat said on Tuesday. The political alliance's population rose from 446.7 million on Jan. 1, 2022 to 448.4 million people a year later. "The observed population growth can be largely attributed to the increased migratory movements post-COVID-19 and to the mass influx of displaced persons from Ukraine who received temporary protection status in EU countries," Eurostat said. Eurostat said only seven countries recorded a drop in their populations in 2022, including Italy whose population fell by nearly 180,000 people. The twenty remaining countries within the bloc saw their populations rise.

Persons: Michele Tantussi, Olivier Sorgho, Milla Nissi, Christina Fincher Organizations: REUTERS, Eurostat, Thomson Locations: Ukraine, Tegel, Berlin, Germany, Italy, Gdansk

☆ Exclusive: Most patients using weight-loss drugs like Wegovy stop within a year, data show
▼ + stars: | 2023-07-11 | by ( Chad Terhune | ) www.reuters.com time to read: +4 min

The annual cost of overall care for patients prior to taking Wegovy or a similar drug was $12,371, on average, according to the analysis. The costs for a similar control group of patients not taking the drugs decreased by 4% over the same period. The analysis by Prime Therapeutics, a pharmacy benefits manager (PBM), reviewed pharmacy and medical claims data for 4,255 people with commercial health plans. For the analysis, Prime Therapeutics excluded patients with type 2 diabetes to focus on obesity treatment. In trials with adults, Novo found that 6.8% of patients taking Wegovy discontinued treatment due to gastrointestinal problems and other adverse events.

Persons: Wegovy, Khrysta Baig, Patrick Gleason, Novo, aren't, Gleason, David Lassen, Lassen, Chad Terhune, Michele Gershberg, Bill Berkrot Organizations: Reuters, Vanderbilt University, Novo Nordisk, Prime Therapeutics, Therapeutics, U.S, Blue, Thomson Locations: Danish

☆ Goldman names under-the-radar global stocks to buy — and says one could soar 80%
▼ + stars: | 2023-07-11 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named several European stocks to buy that it expects to outperform the market — and that other investors could be missing. The list includes Norwegian hydrogen producer Nel , which Goldman says has potential upside of 80% to its 12-month price target. Analyst Michele Della Vigna likes the stock for its strong growth outlook and focus on the North American market. Goldman also picked wind power company Vestas , saying its stock could rise by 48% over the next year. It also chose chemicals company IMCD , with 57% potential upside, and drinks company Remy Cointreau , with 54% potential upside.

Persons: Goldman Sachs, John Sawtell, Goldman, Nel, Michele Della Vigna, Ajay Patel, Remy Cointreau, Elisa, — CNBC's Michael Bloom Organizations: ABN Amro, Veritas Locations: Norwegian, Finnish

☆ Factbox: Potential candidates as next chief of Australia's central bank
▼ + stars: | 2023-07-05 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, July 5 (Reuters) - The Australian government will announce this month whether it would reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or replace him. * Michele Bullock, 60, became the first female Deputy Governor of the RBA when she was appointed in the role in April 2022. She studied economics at the University of New England and a masters from the London School of Economics. He studied economics at Sydney University, and completed a PhD in health economics at the Australian National University. He has PhD degrees in physiology from Cambridge University and in economics from the Australian National University.

Persons: Philip Lowe, Michele Bullock, Bullock, RBA, Steven Kennedy, Kennedy, Kevin Rudd, Julia Gillard, Jenny Wilkinson, David Gruen, Wilkinson, Gruen, Martin Parkinson, Guy Debelle, Fortescue, Australia's, Debelle, Andrew, Carolyn Wilkins, Shri Navaratnam Organizations: SYDNEY, Australian, Reserve Bank of Australia, University of New, London School of Economics, Treasury, Labor, Sydney University, Australian National University, government's Department of Finance, Parliamentary, ANU, Princeton, Australian Bureau of Statistics, Cambridge University, Macquarie University, Department of Prime, Adelaide University, Fortescue Future Industries, University of Adelaide, MIT, Bank of Canada, Thomson Locations: University of New England

☆ Australia markets in the dark as clock ticks down on govt choice of RBA chief
▼ + stars: | 2023-07-05 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Markets are still in the dark whether Treasurer Jim Chalmers will reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or bow to public pressure for a new pair of hands at an institution that stumbled over its policy messaging during the pandemic. "Markets would be more concerned if there wasn't that list," noted Shane Oliver, chief economist at AMP Capital. They are among the front runners in part because there is much pressure for Chalmers to appoint the first female head of the RBA. One dark horse also being mentioned is Guy Debelle, a former RBA deputy governor who resigned last year to join the green energy business of mining billionaire Andrew Forrest. It is possible Chalmers could reappoint Lowe for a shorter period to see out the RBA's current tightening cycle and planned changes in its operation and structure.

Persons: missteps, Jim Chalmers, Philip Lowe, Chalmers, Lowe, Shane Oliver, Michele Bullock, Jenny Wilkinson, Guy Debelle, Andrew Forrest, reappoint Lowe, AMP's Oliver, Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Chalmers, Markets, AMP, Thomson

☆ Bitcoin will be 'interesting' in 2024 with increased mainstream adoption, says strategist
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin will be 'interesting' in 2024 with increased mainstream adoption, says strategistMichele Schneider of Marketgauge.com explains her bullish call on bitcoin and provides her price target for the cryptocurrency.

Persons: Michele Schneider, Marketgauge.com

JECFA, the WHO committee on additives, is also reviewing aspartame use this year. The first group includes substances from processed meat to asbestos, which all have convincing evidence showing they cause cancer, IARC says. Like aspartame, this means there is either limited evidence they can cause cancer in humans, sufficient evidence in animals, or strong evidence about the characteristics. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, IARC, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter, Susan Fenton Organizations: REUTERS, International Agency for Research, Cancer, Health, Reuters, Joint WHO, Food, Agriculture Organization's, WHO, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

☆ Two Sisters Try Living Together (Again) in Washington. Who Gets the Bigger Bedroom?
▼ + stars: | 2023-06-29 | by ( Michele Lerner | ) www.nytimes.com time to read: +2 min

Caroline Berens had been perfectly happy living alone for a couple of years in Washington, when her younger sister, Emma, announced that she was planning to move to the city. So Ms. Berens didn’t immediately extend an invitation to be roommates in her one-bedroom rental in Dupont Circle. “I’ve always been frugal and have saved money to buy a home since I started babysitting at 12,” Caroline Berens said. Email: thehunt@nytimes.com]“I’m coming from college life, where I lived with three other roommates, so I’m not worried about sharing a home with Caroline,” Emma said. “Plus,” she said, “I was determined to avoid living in a basement.”Both sisters are tall, so Caroline wanted high ceilings.

Persons: Caroline Berens, Emma, Berens didn’t, “, haven’t, ”, Berens, we’ve, ” Emma Berens, “ I’ve, ” Caroline Berens, I’m, Caroline, ” Emma, Adams Morgan, Lucy, “ Caroline, Claudia Ornelas, Ms, Ornelas Organizations: Brunswick Group, Harvard, “ Locations: Washington, Dupont, Boston

[1/4] Diet Coke is seen on display at a store in New York City, U.S., June 28, 2023. Aspartame, used in products from Coca-Cola diet sodas to Mars' Extra chewing gum and some Snapple drinks, will be listed in July as "possibly carcinogenic to humans" for the first time by the International Agency for Research on Cancer (IARC), the World Health Organization's (WHO) cancer research arm, the sources said. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions. But it will also likely ignite debate once again over the IARC's role, as well as the safety of sweeteners more generally.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter Organizations: REUTERS, International Agency for Research, Cancer, Health, Joint WHO, Food, Agriculture Organization's, WHO, Reuters, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

EUROPE'S FAR-RIGHT RESURGENCEGains by the far right in Greece mirror a trend in several other European countries. Support for Germany's anti-immigrant AfD party is at its highest since the wake of Europe’s migrant crisis in 2018, in Italy a former far-right activist is prime minister and in Sweden a far-right party has joined the government. Some analysts said Mitsotakis's hard line on migration gave licence to a more xenophobic narrative from the far right. However, some said ultra-nationalists had claimed the turf on the far right because Mitsotakis was shifting to the centre. The Spartans party are led by businessman Vassilios Stigas.

Persons: Ilias Kasidiaris, Kyriakos Mitsotakis, Akritas Kaidatzis, Mitsotakis, Akis Georgakellos, Vassilios Stigas, Golden Dawn, Golden, Kasidiaris, Michele Kambas, Renee Maltezou, Edmund Blair, Christina Fincher Organizations: Spartans, Greek coastguard, New Democracy, Aristotle University, EUROPE'S, SPARTA, Twitter, Thomson Locations: ATHENS, Europe, Greece, Thessaloniki, Italy, Sweden, Turkey, Athens, Golden, Greece's, Kasidiaris, Golden Dawn

The company, Marion Biotech, bought the ingredient — propylene glycol (PG) — from trader Maya Chemtech India, as reported by Reuters. "Marion bought commercial-grade propylene glycol," said a second source, an investigator, who declined to be named while the inquiry is ongoing. International standards allow only trace amounts of EG and DEG in pharmaceutical-grade propylene glycol. The toxins were found in cough syrups exported to Gambia by the other Indian company, Maiden Pharmaceuticals. India made it mandatory for companies to have their cough syrups tested before export from June.

Persons: Marion, Deepak Sharma, Max, Vijay Kumar, Tuhin Bhattacharya, Mool Singh, Atul Rawat, Jaya Jain, Sachin Jain, Rohan Gupta, syrups, Maiden, Saurabh Sharma, Krishna, Jennifer Rigby, Olzhas, Sara Ledwith, Michele Gershberg, Deepa Babington Organizations: Reuters, Marion Biotech, Indian, EG, World Health Organization, Authorities, . Police, Marion, Court, Maya, Maiden Pharmaceuticals, WHO, Thomson Locations: DELHI, Uzbekistan, India, Delhi, Marion, Uttar Pradesh, Allahabad, Gambia, Indonesia, London, Almaty

☆ Obesity drug Wegovy's popularity has US employers rethinking insurance coverage
▼ + stars: | 2023-06-27 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

[1/2] A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. A new and more expensive version of the drug specifically for weight loss, called Wegovy, had been approved in 2021 by U.S. health regulators. Employers that cover weight-loss drugs have required medical practices to document patients’ need for Wegovy since it was approved. The federal Medicare healthcare program for Americans aged 65 and older cannot cover weight loss treatments by law. Only 16 states – the most populous being California, Pennsylvania and Michigan – cover Wegovy and other obesity drugs under their Medicaid plans for low-income patients.

Persons: Jim Vondruska, Shawnte, Aon, Mercer, Willis Towers Watson, Eli Lilly, Jeff Levin, Levin, Scherz, Michael Manolakis, William Yancy, Manolakis, Patrick Wingrove, Michele Gershberg, Suzanne Goldenberg Organizations: REUTERS, New, Warner Bros, Warner Bros Discovery Inc, Reuters, Marsh & McLennan, Employers, Barclays Research, Novo Nordisk, Duke University, Thomson Locations: Chicago , Illinois, U.S, New York, Marsh, Wegovy, California, Pennsylvania, Michigan

☆ Arsenal, Belgian FA among winners selected by UEFA for social change work
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - UEFA announced the inaugural recipients of their "FootbALL Awards" on Tuesday, recognising the contribution to social change, given to Belgium's Football Association, the German Football League, Arsenal and former France player Lilian Thuram. The "FootbALL" programme, launched by UEFA at the Champions League final earlier this month, highlights the power of football to drive positive social change across European communities. The Belgian FA (RBFA) was one of the first national associations to establish a comprehensive football social responsibility strategy. The German Football League (DFL) has been recognised for continuous fight against discrimination and for their activities during International Weeks Against Racism, UEFA said. "Their work showcases the importance of leading by example, which is exactly what the FootbALL programme represents," said UEFA Director of Social & Environmental Sustainability Michele Uva.

Persons: Lilian Thuram, Uva, Anita Kobylinska, Christian Radnedge Organizations: UEFA, Belgium's Football Association, German Football League, Arsenal, Champions League, Belgian FA, Adidas, Social, Environmental, Thomson Locations: France, London, Frankfurt, Germany, Gdansk

☆ Analysis: Weight loss drug candidates multiply, spurring hopes of better outcomes, lower costs
▼ + stars: | 2023-06-27 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

More than 40% of Americans are obese, according to the U.S. Centers for Disease Control and Prevention, and demand is strong for treatments to reduce body weight as well as maintain weight loss. The company said it would continue to develop its twice-daily weight loss drug candidate. Structure Therapeutics (GPCR.O) is developing oral obesity drugs that it says are simpler to manufacture than the current injectables. "We define weight loss quality as the percentage of weight loss attributed to fat loss," said Versanis Chief Scientific Officer Lloyd Klickstein. "With diets, bariatric surgery, incretin drugs or other weight loss drugs, two-thirds to three-quarters of the weight loss is fat, but one-quarter to one-third is lean."

Persons: Robert Gabbay, Eli Lilly, Lilly's, Wegovy, Mico Guevarra, Lilly, Jeff Emmick, Ray Stevens, Boehringer Ingelheim, Versanis, Lloyd Klickstein, Chaguturu, Deena Beasley, Michele Gershberg, Jamie Freed Organizations: DIEGO, Novo Nordisk's, American Diabetes Association, Novo, U.S . Centers for Disease Control, ADA, Pfizer, Therapeutics, Zealand Pharma, Novartis, CVS Health, Aetna, Thomson Locations: San Diego, GLP

The World Health Organization is working with countries to investigate the global pharmaceutical supply chain for such syrups. Andika Urrasyidin, lead police investigator of the case, told Reuters police have called in "many" BPOM officials for questioning, and the investigation is still underway. Hersadwi Rusdiyono, the director of Indonesia's national police's crimes detection unit, said BPOM officials were brought in as witnesses, but investigators are now checking if any wrongdoing was committed by drug regulators. "We asked them according to their functions, as regulators, whether they've conducted supervision and what kind of supervision," he told Reuters. Hersadwi said the probe so far has focused on staff at lower levels and not included BPOM'S chief, Penny Lukito.

Persons: Urrasyidin, Hersadwi Rusdiyono, they've, Hersadwi, Penny Lukito, Penny, BPOM, Tirta Buana Kemindo, Stanley Widianto, Miyoung Kim, Sara Ledwith, Michele Gershberg Organizations: Reuters, World Health Organization, Police, Afi, Thomson Locations: JAKARTA, Gambia, Uzbekistan, BPOM

☆ People Are Using Mortgage Points to Lower Their Rates—Are They Worth It?
▼ + stars: | 2023-06-24 | by ( Michele Lerner | ) www.wsj.com time to read: +6 min

A recent analysis by Zillow Home Loans found that nearly 45% of borrowers purchased mortgage points, also known as discount points, in 2022 to reduce their monthly payments. That compares to 29% of borrowers who bought mortgage points in 2021, 28% in 2020 and 27% in 2019. “We started seeing more buyers purchasing discount points as soon as mortgage rates ticked up in 2022,” says Nicole Bachaud, senior economist for Zillow in Seattle. The combination of high home prices and high mortgage rates contributes to the current appeal of paying discount points. Cash-out refinance borrowers were also more likely than other borrowers to buy mortgage points.

Persons: Michele Lerner, “, ”, Nicole Bachaud, we’re, Chuck Cavanaugh, ” Cavanaugh, Mike Salierno, ” Salierno, Cavanaugh, ” Bachaud, Cash, Bachaud Organizations: Zillow, Citibank, Northwestern Mutual Locations: Seattle, New York City, Clearwater, Fla

☆ Greeks vote in repeat election, likely to return conservatives to office
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +2 min

Mitsotakis's New Democracy party won an election on May 21, 20 points clear of the leftist Syriza party that ruled Greece from 2015 to 2019. Mitsotakis, prime minister since 2019, stepped down in favour of a caretaker premier after the inconclusive vote last month, as required by the constitution. The boat had been shadowed by the Greek coast guard before it sank: the coast guard has said that the occupants refused all offers of help. Mitsotakis, whose administration has taken a hard stance on migration, said "wretched traffickers" were to blame for the disaster and praised the coast guard for rescuing people. Tsipras has questioned why the coast guard did not intervene earlier.

Persons: Kyriakos, Kyriakos Mitsotakis, Syriza, Alexis Tsipras, Mitsotakis, Tsipras, Michele Kambas, Frances Kerry Organizations: Greek, New Democracy, REUTERS, Democracy, Thomson Locations: Athens, Greece, Stoyan, ATHENS, Libya, Italy, Europe

[1/24] New Democracy conservative party leader Kyriakos Mitsotakis speaks to supporters outside the party's headquarters, after the general election, in Athens, Greece, June 25, 2023. Fringe parties of the political left and right - including an anti-immigrant party calling themselves the Spartans - got a foothold in parliament. The system used in Sunday's poll gave the leading party bonus seats depending on voter support. The Spartans party, which said Greece was threatened by uncontrolled migration, was the surprise of the campaign. It was set to gain 4.7 of the vote and up to 13 seats in parliament, based on the early results.

Persons: Kyriakos Mitsotakis, Kyriakos, Mitsotakis, Tsipras, Zoe Constantopoulou, Plefsi Eleftherias, Giorgos Katzimertzis, Ilias Kasiadiaris, Gina Kalovyrna, Michele Kambas, Renee Maltezou, Lefteris, Frances Kerry, Emelia, Giles Elgood, Mark Porter Organizations: New Democracy, REUTERS, Syriza, Spartans, European Union, Reuters, Thomson Locations: Athens, Greece, ATHENS, Kasidiaris

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