DIRS.INFO The most relevant business & tech news

☆ 2seventy bio to lay off 40% of workforce; CEO to step down
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

Nick Leschly, CEO of bluebird, speaks at the opening of Lonza Houston, the world’s largest dedicated cell and gene therapy facility, in Houston, Texas, U.S., April 10, 2018. REUTERS/Daniel Kramer Acquire Licensing RightsSept 12 (Reuters) - 2seventy bio (TSVT.O) said on Tuesday it plans to lay off about 40% of its workforce to lower costs and focus on the biotech firm's cancer cell therapy Abecma, lifting the company's shares more than 8% in premarket trade. The company added that CEO Nick Leschly will step down and transition to the role of chairman. Leschly was earlier the CEO of bluebird bio (BLUE.O) for 11 years, but changed role after the gene therapy maker's oncology portfolio was spun off from it as 2seventy. The company will now focus on another type of multiple myeloma patients, for which it expects approval from the U.S. Food and Drug Administration in mid-December.

Persons: Nick Leschly, Lonza, Daniel Kramer, Leschly, 2seventy, Abecma, Johnson, Bristol Myers, William Baird, Pratik Jain, Shounak Dasgupta, Maju Samuel Organizations: bluebird, REUTERS, Johnson, Legend Biotech, Bristol, Bristol Myers Squibb, U.S . Food, Drug Administration, Thomson Locations: Lonza Houston, Houston , Texas, U.S, Abecma, Bengaluru

☆ Olam Group denies reports of multi-billion dollar forex fraud in Nigeria, shares slump
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

An Olam logo is pictured in their office in Singapore August 14, 2017. REUTERS/Edgar Su/File Photo Acquire Licensing RightsSept 11 (Reuters) - Singapore's Olam Group (OLAG.SI) on Monday denied reports by the Nigerian media last week, alleging that its units in the African country were involved in a multi-billion dollar foreign exchange fraud. The Daily Nigerian and Prime Business Africa reported that Nigeria's secret police was investigating the company's units Olam Nigeria and Olam International and their associate firms for a more than $50 billion foreign exchange fraud. "The company categorically denies the allegations in the Articles," Olam said in a statement, and said it has directed its audit committee to review the matter. The company said that its unit Olam Nigeria has responded to requests for information by Nigerian authorities and will continue to cooperate.

Persons: Edgar Su, Olam, Echha Jain, Sonia Cheema Organizations: REUTERS, Daily Nigerian, Prime Business Africa, Olam International, Thomson Locations: Singapore, Nigerian, Nigeria, Bengaluru

☆ U.S. airlines flag high fuel costs, Southwest's August bookings disappoint
▼ + stars: | 2023-09-06 | by ( Mehr Bedi | ) www.reuters.com time to read: +2 min

[1/2] A Southwest Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsSept 6 (Reuters) - Southwest Airlines (LUV.N) on Wednesday flagged softer August leisure bookings and joined two other U.S. airlines in warning of higher fuel costs in the third quarter due to a jump in crude prices. United Airlines (UAL.O) and Alaska Air Group (ALK.N) also warned of higher fuel costs in the current quarter as crude oil prices rose for a third straight month in August, amid signs of tightening supply. In a regulatory filing, United said jet fuel prices have climbed over 20% since mid-July. U.S. airlines do not generally hedge against fuel costs, making them vulnerable to price swings.

Persons: Joshua Roberts, Gerald Laderman, Stephen Trent, Mehr Bedi, Abhijith, Aishwarya Jain, Pooja Desai Organizations: Southwest Airlines, U.S, Capitol, Reagan National Airport, REUTERS, United Airlines, Alaska Air Group, United, Cowen Transportation Conference, Alaska Air, Citi Research, Thomson Locations: Arlington , Virginia, U.S, Denver, Chicago, Southwest, Bengaluru

☆ India or Bharat? President's G20 dinner invitation sparks name-change row
▼ + stars: | 2023-09-05 | by ( Rupam Jain | ) www.reuters.com time to read: +3 min

Murmu is hosting a reception for G20 leaders during the group's summit on Saturday and invitations were sent from her office. India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. High offices in the country have typically stuck to titles such as President of India, Prime Minister of India and Chief Justice of India while communicating in English. Supporters of the name change in the invitation said British colonial rulers had coined the name India to overshadow Bharat and forge a British legacy. Hindu groups linked to BJP said the G20 summit provided the best opportunity to shed India's colonial baggage.

Persons: Adnan Abidi, Droupadi, Bharat, Narendra Modi's, Rajeev Chandrasekhar, Mamata Banerjee, Shashi Tharoor, Rupam Jain, YP Rajesh, Alexandra Hudson Organizations: REUTERS, Bharatiya Janata Party, BJP, Bharat, INDIA, Developmental, Alliance, Reuters, YP, Alexandra Hudson Our, Thomson Locations: New Delhi, India, DELHI, Bharata, Hindustan, British, INDIA

☆ India's inflation is likely to remain elevated due to high vegetable prices: UBS
▼ + stars: | 2023-09-04 | 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 EmailIndia's inflation is likely to remain elevated due to high vegetable prices: UBSTanvee Gupta Jain of UBS expects the weather-related uncertainties and uneven rainfalls will affect India's summer crop yields and the winter crop sowing, which could cause India's inflation to remain high for some time.

Persons: UBS Tanvee Gupta Organizations: UBS

India's Prime Minister Narendra Modi speaks during a joint press conference with Greek Prime Minister Kyriakos Mitsotakis at the Maximos Mansion in Athens, Greece, August 25, 2023. A "mid-20th century approach cannot serve the world in the 21st century", Modi, who will host a summit of the Group of 20 big economies from next weekend, told the Press Trust of India news agency. "International institutions need to recognise changing realities, relook at their priorities," Modi said, adding it was critical to ensure the representation of voices. "India's G20 presidency also sowed seeds of confidence in countries of so-called third world." Modi, 72, said India's G20 presidency has led to the recognition that anti-inflation policies in one country do not harm others.

Persons: Narendra Modi, Kyriakos Mitsotakis, Stelios Misinas, Modi, Joe Biden, Emmanuel Macron, Olaf Scholz, Saudi Crown Prince Mohammed bin Salman, cryptocurrency, Arpan Chaturvedi, William Mallard Organizations: India's, Greek, REUTERS, Indian, United, Press Trust of India, . Security, African Union, Saudi Crown, Thomson Locations: Athens, Greece, DELHI, United Nations, U.S

A G20 logo is pictured in front of the main venue of the summit in New Delhi, India, August 24, 2023. The heads of the United Nations, International Monetary Fund, World Bank, World Trade Organisation and World Health Organisation will also be present. DEFENCE IN THE SKIESThe city will be guarded by nearly 130,000 security personnel, including the 80,000-strong Delhi Police, officials said. Modi inaugurated a $300 million venue in the capital in July to host the summit meeting - a conch shell-shaped building that can seat more than 3,000. The government has also leased 20 bullet-proof limousines at a cost of 180 million Indian rupees ($2.18 million) for ferrying leaders.

Persons: Adnan Abidi, Narendra Modi, Joe Biden, Rishi Sunak, Saudi Arabia's Mohammed Bin Salman, Xi Jinping, Vladimir Putin, Sergei Lavrov, Dependra Pathak, Pathak, Ranvir Singh, Biden, Modi, Rupam Jain, Raju Gopalakrishnan Organizations: REUTERS, NEW, India, British, Foreign, United Nations, International Monetary Fund, World Bank, World Trade Organisation, World Health, Delhi Police, Border Security Force, Indian Air Force, Reuters, Thomson Locations: New Delhi, India, Delhi, NEW DELHI, U.S, Saudi, Beijing, Japan, Australia, France, Germany, Ukraine, Pragati, Gurugram, New, Arunachal Pradesh, Srinagar, Kashmir

☆ In a Crisis (or Two), They Both Knew Where to Turn for Help
▼ + stars: | 2023-09-01 | by ( Valeriya Safronova | ) www.nytimes.com time to read: +1 min

Dr. Jain and Ms. Lee first met at Alibi Room, a bar and restaurant in Los Angeles, in May 2021 after matching on Hinge. “But we both had these immigrant stories.”“It was like, ‘What did you do on the weekends when you were young’,” Ms. Lee said. “I drove to art class six hours away in San Diego.”“I went to Korean SAT classes every weekend,” Dr. Jain answered. Dr. Jain, 42, grew up in different parts of Bergen county in New Jersey; his parents immigrated from Rajasthan, India, in the 1970s. He has a bachelor’s degree in government from Harvard, an M.B.A. from Harvard Business School, and a medical degree from Harvard Medical School.

Persons: Jain, Lee, “, Dr, ’, Ms, ” “, ” Dr Organizations: Costco, Kia Motors, Central Saint Martins, Harvard, Harvard Business School, Harvard Medical School Locations: Los Angeles, San Diego, Seoul, Irvine, Calif, Central, London, Coupang, Bergen county, New Jersey, Rajasthan, India

A vehicle drives on a flooded road after the arrival of Hurricane Idalia, in Cedar Key, Florida, U.S., August 30, 2023. Hurricane Idalia plowed into Florida's Gulf Coast with fierce winds, torrential rains and pounding surf before weakening but turning its fury on southeastern Georgia, where floodwaters trapped some residents in their homes. At about $10 billion, Idalia would cost insurers less than 10 of the costliest hurricanes to hit the United States. Higher reinsurance rates can affect the premiums that insurers charge their customers. FLORIDA PAINFlorida has a large number of very small, thinly capitalized insurers, insurance experts have said.

Persons: Hurricane Idalia, Julio Cesar Chavez, Thomas Hayes, Gallagher Re, Michael Peltier, Berkshire Hathaway, Ajit Jain, Noor Zainab Hussain, Manya, Chibuike Oguh, Jon Stempel, Devika Syamnath, Megan Davies, Cynthia Osterman Organizations: REUTERS, Hurricane, UBS, Global, Great, Great Hill Capital, Farmers Insurance, Bankers Insurance, Lexington Insurance, AIG, Farmers, Florida Office, Insurance, Bankers, Property Insurance Corp, Property Insurance, Berkshire, Manya Saini, Thomson Locations: Cedar Key , Florida, U.S, Florida, Coast, Georgia, United States, Ukraine, California, Great Hill, New York, FLORIDA, USA, Lexington, Berkshire, Bengaluru, Chibuike

☆ India lodges strong protest with China over map claiming 'India's territory'
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

The protest by New Delhi followed reports in the Indian media that Beijing had released an official "standard map" showing the Indian state of Arunachal Pradesh and the Aksai Chin plateau as its official territory. Aksai Chin is a disputed plateau in the western Himalayas claimed by India but controlled by China. "We have today lodged a strong protest through diplomatic channels with the Chinese side on the so-called 2023 'standard map' of China that lays claim to India;s territory," the Indian foreign ministry spokesperson said. "Making absurd claims on India's territory does not make it China's territory," Jaishankar told news channel NDTV. Reporting by YP Rajesh; Additional reporting by Rupam Jain and Sakshi Dayal; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Aksai Chin, Subrahmanyam Jaishankar, Jaishankar, Narendra Modi, Xi Jinping, YP Rajesh, Rupam Jain, Sakshi Dayal, Alex Richardson Organizations: DELHI, NDTV, Indian, YP, Thomson Locations: Indian, Arunachal Pradesh, India, China, New Delhi, Beijing, Tibet, Johannesburg

☆ Amazon VP who was previously Uber's CTO has taken a sudden leave of absence less than 2 years into the job
▼ + stars: | 2023-08-29 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

The VP in charge of Amazon's ecommerce technology services has taken a sudden leave of absence. Sukumar Rathnam, an Amazon VP who was formerly Uber's chief technology officer, is taking a sudden leave of absence, Insider has learned. Rathnam was most recently VP of eCommerce services at Amazon, overseeing the retail giant's backend technology. It was his second stint at Amazon, after having spent almost 10 years in a retail VP role previously. Many Amazon employees voiced their opposition to RTO over the past 6 months, both publicly and privately, sparking an internal petition and a public walkout.

Persons: Sukumar Rathnam, Rathnam, Dave Treadwell, Ramesh Manne, Treadwell, Sukumar, Sundeep Jain, Rathnam's, Dave Clark, Jay Carney, Andy Jassy, Jeff Bezos, Brad Glasser, Glasser, Jassy Organizations: Amazon, Amazon's Locations: Amazon's

A worker walks near conveyer belts loaded with iron ore at the Fortescue Solomon iron ore mine located in the Valley of the Kings, around 400 km (248 miles) south of Port Hedland in the Pilbara region of Western Australia December 2, 2013. The world's fourth-largest iron ore miner, which has been beset by senior management turnover over the past two years, earlier in the day announced the resignation of its metals division head and co-CEO Fiona Hick. Fortescue shares, up nearly 2.1% so far this year, fell as much as 6% to A$19.7 by 0200 GMT. A review of its assets at the company's Iron Bridge project resulted in a pre-tax impairment charge of $1 billion. The company said rising interest rates and industry-wide inflation had fuelled the asset write-down at its Iron Bridge project, a major plank in the group's growth strategy.

Persons: Fortescue Solomon, David Gray, Australia's Fortescue, Fiona Hick, Fortescue, Echha Jain, Roushni Nair, Rashmi Organizations: REUTERS, Metals, Fortescue Future Industries, Fortescue Energy, Gibson, Phoenix Hydrogen, Thomson Locations: Port Hedland, Pilbara, Western Australia, Australia, Bengaluru

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsLONDON/CHICAGO, Aug 24 (Reuters) - A highly mutated COVID variant called BA.2.86 has now been detected in Switzerland and South Africa in addition to Israel, Denmark, the U.S. and the U.K., according to a leading World Health Organization official. It has since been detected in other symptomatic patients, in routine airport screening, and in wastewater samples in a handful of countries. That the known cases are not linked suggests it is already circulating more widely, particularly given reduced surveillance worldwide, she said. There have been nine such cases detected as of Aug. 23 and the variant was also found in wastewater in Switzerland. Jha and others, including the European public health agency and COVAX, the global program for getting vaccines to the world's poorest, said COVID surveillance and defenses could be reactivated in the event of a major infection wave.

Persons: Shannon Stapleton, Maria Van Kerkhove, Kerkhove, ”, Marion Koopmans, Nirav Shah, Van Kerkhove, Tyra Grove Krause, Ashish Jha, Jha, Jennifer Rigby, Julie Steenhuysen, Pratik Jain, Caroline Humer, Bill Berkrot Organizations: REUTERS, Health Organization, Omicron, WHO, U.S . Centers for Disease Control, Pharmacy, Walgreens, Rite, Reuters, Statens Serum, White, Thomson Locations: Harlem, New York City, U.S, CHICAGO, Switzerland, South Africa, Israel, Denmark, COVID, Dutch, Danish, Bengaluru

☆ US CDC says new COVID lineage could cause infections in vaccinated individuals
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

CDC said it was too soon to know whether this might cause more severe illness compared with previous variants. But due to the high number of mutations detected in this lineage, there were concerns about its impact on immunity from vaccines and previous infections, the agency said. Scientists are keeping an eye on the BA.2.86 lineage because it has 36 mutations that distinguish it from the currently-dominant XBB.1.5 variant. The agency had earlier this month said it was tracking the highly mutated BA.2.86 lineage, which has been detected in the United States, Denmark and Israel. CDC said on Wednesday the current increase in hospitalizations in the United States is not likely driven by the BA.2.86 lineage.

Persons: Pratik Jain, Shilpi Majumdar Organizations: Science, Trinity College, Reuters, U.S . Centers for Disease Control, Prevention, CDC, Thomson Locations: Dublin, Wuhan, United States, Denmark, Israel, hospitalizations, Bengaluru

☆ Mallinckrodt second bankruptcy would cut $1 billion from opioid settlement
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The agreement announced Wednesday would reduce Mallinckrodt's debt by about $1.9 billion and cancel existing equity shares. The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy. Mallinckrodt failed to make a $200 million payment to the opioid trust due in June, prompting the company to launch a negotiation with its stakeholders. Mallinckrodt said that its current level of creditor support should allow the company to complete its second bankruptcy by the end of 2023. Drug manufacturers, drug distributors and pharmacy chains have agreed to pay more than $50 billion in settlements to resolve lawsuits related to the U.S. opioid crisis.

Persons: Hydrocodine, Mallinckrodt, George Frey, Siggi Olafsson, Pratik Jain, Mariam Sunny, Khushi, Dietrich Knauth, Maju Samuel, Shinjini Ganguli, Alexia Garamfalvi Organizations: REUTERS, Thomson Locations: Provo , Utah, U.S, Ireland, Bengaluru, New York

☆ US govt awards $1.4 bln for development of new COVID therapies, vaccines
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Regeneron Pharmaceuticals Inc FollowAug 22 (Reuters) - The U.S. government said on Tuesday it had awarded $1.4 billion for the development of new therapies and vaccines against COVID-19, including a $326 million contract with Regeneron Pharmaceuticals (REGN.O) for a next-generation antibody therapy for prevention of infections. The funding to Regeneron is a part of a $5 billion initiative dubbed "Project NextGen" by the U.S. Department of Health and Human Services (HHS). The funding also includes $1 billion for four mid-stage clinical trials of new COVID vaccines, and $100 million to Global Health Investment Corp - a non-profit organization that invests in new technologies that will accelerate responses to diseases. Reporting by Pratik Jain in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Regeneron, Pratik Jain, Maju Samuel Organizations: Regeneron Pharmaceuticals, REUTERS, U.S, COVID, U.S . Department of Health, Human Services, U.S . Food, Drug Administration, Omicron, Global Health Investment Corp, Thomson Locations: Westchester, Tarrytown , New York, U.S, Bengaluru

☆ Teva Pharmaceuticals to pay $225 mln to settle price-fixing charges
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The logo of Teva Pharmaceutical Industries is seen in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsAug 21 (Reuters) - Teva Pharmaceuticals will pay a fine of $225 million over five years to settle the criminal price-fixing charges brought against Teva in 2020 by the U.S. Department of Justice, the company said on Monday. Reporting by Pratik Jain in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Amir Cohen, Pratik Jain, Shailesh Organizations: Teva Pharmaceutical Industries, REUTERS, Teva Pharmaceuticals, Teva, U.S . Department of Justice, Thomson Locations: Tel Aviv, Israel, Bengaluru

☆ Teva to pay $225 mln, divest cholesterol drug to settle price-fixing charges
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of Teva Pharmaceutical Industries is seen in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsAug 21 (Reuters) - Teva Pharmaceutical (TEVA.TA) will pay $225 million and divest its copycat version of a cholesterol drug as part of its settlement of price-fixing charges, the U.S. Department of Justice said on Monday. Glenmark will also pay a penalty of $30 million to resolve similar charges, the DOJ said. Teva and Glenmark will have to divest their respective versions of a generic cholesterol drug, pravastatin, that was a core part of the companies' price-fixing conspiracy, the DOJ said. As part of the deals with the DOJ, Glenmark and Teva both admitted to participating in fixing the price of pravastatin.

Persons: Amir Cohen, Teva, Glenmark, Pratik Jain, Shailesh Organizations: Teva Pharmaceutical Industries, REUTERS, Teva Pharmaceutical, U.S . Department of Justice, Prosecutors, Pharmaceuticals, DOJ, Thomson Locations: Tel Aviv, Israel, Bengaluru

☆ A message to OpenAI's Sam Altman was an AI startup founder's last ditch effort to help save her company — and it worked
▼ + stars: | 2023-08-21 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

The AI startup was recently named by VCs as one of 2023's most promising startups. Thompson named her startup Milo, an acronym for "my important loved ones," and raised some early funding from the accelerator Y Combinator in 2020. "You never hear someone talk about the power of these models to help families," said Brad Lightcap, OpenAI's chief operating officer. On Milo, parents can send text messages of grocery lists, photos of permission slips or sign-up-sheets for school activities to the Milo chatbot. To date, Milo has raised an undisclosed amount of pre-seed and seed capital from Y Combinator, OpenAI, Magnify Ventures, Bronze Ventures, and several angel investors.

Persons: Milo, Avni Patel Thompson, Sam Altman, VCs, Thompson, Mary, Archa Jain, Brad Lightcap, Milo chatbot, Cleo, Sara Ittelson, I'm Organizations: Starbucks, Reebok, Accel, Bronze Ventures Locations: Y

☆ US FDA approves Regeneron's ultra-rare blood disease drug
▼ + stars: | 2023-08-18 | by ( Pratik Jain | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 18 (Reuters) - Regeneron Pharmaceuticals (REGN.O) said on Friday the U.S. health regulator approved its drug to treat a rare blood disease. The drug pozelimab, branded as Veopoz, would treat CHAPLE disease in adult and pediatric patients 1 year of age and older. Regeneron said the disease has fewer than 10 patients identified in the U.S. and estimates less than 100 patients worldwide. With Veopoz's approval, the company said the pre-approval inspection issues related to the marketing application of the higher dose of its blockbuster eye disease drug Eylea, or aflibercept, has been addressed. The FDA had in June declined to approve the higher-dose version following an inspection at third-party manufacturer Catalent (CTLT.N).

Persons: Brendan McDermid, Veopoz, Regeneron, 8mg, Evan Seigerman, Seigerman, Vaibhav Sadhamta, Khushi, Shilpi Majumdar Organizations: Regeneron Pharmaceuticals, REUTERS, U.S . Food, Drug Administration, Reuters, BMO Capital, FDA, Thomson Locations: Westchester, Tarrytown , New York, U.S, Bengaluru

☆ Moderna's updated COVID vaccine effective against 'Eris' variant in humans
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Vials of the Moderna COVID-19 vaccine are seen at Apotex pharmaceutical company as Humber River Hospital's mobile vaccine clinic vaccinate employees as part of the coronavirus disease (COVID-19) vaccination campaign, in Toronto, Ontario, Canada April 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsCompanies BioNTech SE FollowModerna Inc FollowNovavax Inc Follow Show more companiesAug 17 (Reuters) - Moderna (MRNA.O) said on Thursday an initial study data showed its updated COVID-19 vaccine to be effective against the "Eris" and "Fornax" subvariants in humans. Moderna and other COVID-19 vaccine makers Novavax (NVAX.O), Pfizer (PFE.N) and German partner BioNTech SE (22UAy.DE) have created versions of their shots aimed at the XBB.1.5 subvariant. Earlier on Thursday, Pfizer reported that its updated COVID-19 shot, co-developed with BioNTech, showed neutralizing activity against the Eris subvariant in a study conducted on mice. Eris, the nickname for EG.5, is similar to the XBB.1.5 subvariant and a sub-lineage of the still-dominant Omicron variant.

Persons: Carlos Osorio, BioNTech, Pratik Jain, Shilpi Majumdar Organizations: Moderna, REUTERS, Pfizer, EG, Omicron, World Health Organization, Thomson Locations: Humber, Toronto , Ontario, Canada, United States, Europe, U.S, Bengaluru

☆ Pfizer's updated COVID shot effective against 'Eris' variant in mice study
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Pfizer, along with its German partner BioNTech SE (22UAy.DE), as well as other COVID-19 vaccine makers Moderna (MRNA.O) and Novavax (NVAX.O) have created versions of their shots, which are aimed at the XBB.1.5 subvariant. EG.5, nicknamed by some as "Eris", is similar to the XBB.1.5 subvariant and a sub-lineage of the still-dominant Omicron variant. EG.5 accounted for about more than 17% of COVID-19 cases in the United States, according to the latest government data. In the United States, COVID-19 related hospitalizations are up more than 40% off of recent lows hit in June, but are still more than 90% below peak levels hit during the January 2022 Omicron outbreak. Reporting by Pratik Jain in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Aluka Berry, BioNTech, Pratik Jain, Shilpi Majumdar Organizations: Dekalb Pediatric Center, REUTERS, Pfizer, Pfizer Inc, Moderna, EG, World Health Organization, Thomson Locations: Dekalb, Georgia, Decatur , Georgia, U.S, United States, China, South Korea, Japan, Canada, Bengaluru

☆ India's Modi says peace returning to strife-torn Manipur
▼ + stars: | 2023-08-15 | by ( Rupam Jain | ) www.reuters.com time to read: +3 min

[1/5] India's Prime Minister Narendra Modi addresses the nation during Independence Day celebrations at the historic Red Fort in Delhi, India, August 15, 2023. REUTERS/Altaf HussainNEW DELHI, Aug 15 (Reuters) - Indian Prime Minister Narendra Modi said on Tuesday peace was returning to the strife-torn northeastern state of Manipur where at least 180 people have been killed and tens of thousands forced from their homes in sectarian clashes since May. The country wants the people of Manipur to hold on to the peace of the last few days and take it forward," Modi said in an Independence Day speech from the ramparts of New Delhi's Red Fort. Manipur state chief minister hoisted India's tri-colour flag in the capital city of Imphal to commemorate Independence Day and there were no immediate reports of violence, officials said. Leaders from Indian opposition parties' alliance called "INDIA" said Modi's Independence Day speech will be his last as his party will be routed in the general elections.

Persons: Narendra Modi, Altaf Hussain, Modi, Kuki, Jairam Ramesh, bluster, Rupam Jain, Robert Birsel, Susan Fenton Organizations: India's, REUTERS, Indian, Bharatiya Janata Party, BJP, Independence, Thomson Locations: Independence, Fort, Delhi, India, Manipur, Myanmar, New, Imphal

☆ US FDA approves Pfizer's blood cancer therapy
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Johanna Geron/File PhotoAug 14 (Reuters) - The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer's (PFE.N) therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. Multiple myeloma is a common type of blood cancer, which develops in the bone marrow and can spread throughout the body. The FDA approval is based on data from a mid-stage study that showed that 58% of patients treated with Pfizer's therapy had no signs of cancer or had seen a significant decrease in cancer cells in the body. Pfizer said it will continue testing the therapy in ongoing late-stage trials to expand its use in earlier lines of treatment for patients. The therapy's approval comes with a boxed warning for neurologic toxicity and cytokine release syndrome, a condition where the immune system reacts more aggressively.

Persons: Johanna Geron, Epkinly, Johnson, Pfizer's, Bhanvi Satija, Leroy Leo, Pratik, Shounak Dasgupta Organizations: Pfizer, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Puurs, Belgium, U.S, Bengaluru

☆ Canoo finalizes incentive package with Oklahoma, Cherokee Nation
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

A view shows a Canoo LTV (Light Tactical Vehicle) electric vehicle, produced for the U.S. Army, at a manufacturing site in Livonia, Michigan, U.S. November 29, 2022. REUTERS/Rebecca Cook/File PhotoAug 14 (Reuters) - Electric-vehicle startup Canoo (GOEV.O) said on Monday it finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation, for an estimated value of $113 million over 10 years. As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and the battery manufacturing factory in Pryor. Canoo, which will invest more than $320 million at both its facilities in the state, had entered into a long-term lease agreement for the vehicle manufacturing facility in Oklahoma City earlier this year. Reporting by Tanya Jain and Akash Sriram in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Canoo, Tanya Jain, Akash Sriram, Krishna Chandra Organizations: LTV, U.S . Army, REUTERS, Cherokee, Department of Commerce, Thomson Locations: Livonia , Michigan, U.S, Oklahoma, Oklahoma City, Pryor ., Bengaluru

Search resuls for: "Jain"

25 mentions found