After soaring in popularity over the past quarter-century, French bulldogs came in second only to Labrador retrievers in the American Kennel Club’s latest popularity rankings.
After soaring in popularity over the past quarter-century, French bulldogs came in second only to Labrador retrievers in the American Kennel Club’s latest popularity rankings.
(Bloomberg) -- The collapse of Archegos Capital Management LP, an investment firm that few even on Wall Street had heard of until it imploded last month, is changing a lucrative, decades-old part of global banking.Nomura Holdings Inc. and Credit Suisse Group AG, the two lenders hit hardest, have started to curb financing in the business with hedge funds and family offices. European regulators are looking at risks banks are taking when lending to such clients, while in the U.S., authorities started a preliminary probe into the debacle.Together, steps taken from Washington to Zurich and Tokyo could portend some of the biggest changes since the financial crisis to a cornerstone of global banking known as prime brokerage. Typically housed in the equities units of large investment banks, these businesses lend cash and securities to the funds and execute their trades, and the relationships can be vital for investment banks.But the collapse of Archegos, the family office of former hedge fund trader Bill Hwang, has underscored the risks banks are taking with these clients, even when their loans are secured by collateral. Credit Suisse has been the worst-hit so far, taking a $4.7 billion writedown in the first quarter.The lender, one of the biggest prime brokers among European banks, is now weighing significant cuts to its prime brokerage arm in coming months, people familiar with the plan have said.It has already been calling clients to change margin requirements in swap agreements -- the derivatives Hwang used for his bets -- so they match the more restrictive terms of other prime-brokerage contracts, people with direct knowledge of the matter said. Specifically, the bank is shifting from static margining to dynamic margining, which may force clients to post more collateral and could reduce the profitability of some trades.$2 Billion LossNomura, which is facing an estimated $2 billion from the Archegos fiasco, followed suit, with restrictions including tightening leverage for some clients who were previously granted exceptions to margin financing limits, Bloomberg reported on Tuesday. Japan’s biggest brokerage is examining the cause of the possible losses though it’s too early to say how it might impact earnings, an executive at the firm said in March, asking not to be identified. A representative for the Tokyo-based firm declined to commentHwang’s family office built positions in at least nine stocks that were big enough to rank him among the largest holders, fueled by bank leverage that would have been unusual even for a hedge fund. Archegos was able to place outsize wagers using derivatives and, as a private firm, avoid the disclosures required of most investors. Almost invisibly, he accumulated a portfolio that some people familiar with his accounts estimate at as much as $100 billion.While Hwang’s financiers had clues about what Archegos was doing and the trades they had financed, they couldn’t see that he was taking parallel positions at multiple firms, piling more leverage onto the same few stocks, according to people familiar with the matter.In the U.S., regulators are already privately dropping hints of new rules to come. Securities and Exchange Commission officials have signaled to banks that they intend to make trading disclosures from hedge funds a higher priority, while also finding ways to address risk and leverage.“Hopefully this will cause the prime brokerages of regulated banking organizations (and their supervisors) to re-assess their relationships with highly leveraged hedge funds,” Sheila Bair, a former chairman of the Federal Deposit Insurance Corp., wrote on Twitter.In Europe, the top banking regulator has asked some of the bloc’s largest banks for additional information on their exposure to hedge funds, people familiar with the matter said. While the checks by the European Central Bank on lenders such as Deutsche Bank AG and BNP Paribas SA are standard practice after such a disruptive event, they underscore regulators’ concern, even as most euro-region banks skirted big losses.“There is a need to scrutinize the reasons why the banks enabled the fund to leverage up to such an extent,” ECB executive board member Isabel Schnabel said in an interview with Der Spiegel last week. “It is a warning signal that there are considerable systemic risks that need to be better regulated.”(Updates with Nomura details in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Oil extended gains in Asian trading after an industry report pointed to another decline in U.S. crude stockpiles that followed an upbeat assessment of the demand outlook from OPEC.Futures in New York rose 0.7% after advancing 0.8% on Tuesday. The American Petroleum Institute reported crude inventories fell by 3.61 million barrels last week, according to people familiar, which will be a third straight decrease if confirmed by government figures on Wednesday. OPEC boosted its consumption forecast for this year and predicted the market recovery will continue.Oil’s sizzling start to the year faltered in mid-March as some regions saw a resurgence in Covid-19 cases, raising concerns about near-term fuel demand. The Organization of Petroleum Exporting Countries said in its monthly report Tuesday that rising consumption should help to trim stockpiles even as OPEC+ readies to return more barrels to the market from May.The coronavirus, however, is clouding the outlook for demand with some countries renewing restrictions and lockdowns to curb its spread, highlighted by normally bustling streets in India left deserted. The pause in the rollout of Johnson & Johnson’s Covid-19 vaccine in Europe after concerns about blood clots also marks another setback for the global inoculation drive.“Oil is trying to build momentum for another test to the upside,” said Jeffrey Halley, a senior market analyst at Oanda Asia Pacific. “OPEC’s upward demand forecast revision is helping, though it may be slightly optimistic. China’s industrial output data on Friday is going to be the next big inflection point.”The prompt timespread for Brent was 39 cents a barrel in backwardation -- where near-dated contracts are more expensive than later-dated ones. That compares with 35 cents a week earlier.See also: China Clamps Down on Independent Oil Refiners to Curb CapacityThe International Energy Agency is scheduled to release its monthly report later Wednesday, providing another snapshot on the outlook for demand and supply. March industrial production data due Friday from China, which has helped the market rebound from the depths of the pandemic, is expected to show a 26.5% gain from a year earlier.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Renae Olivia, who has two children, says she is living her best life - but can you guess how old she is?
A major study looking at whether coronavirus vaccines can be safely mixed for the first and second doses will be expanded. Researchers running the Com-Cov study have announced the programme will be extended to include the Moderna and Novavax vaccines. The research was launched in February to investigate alternating doses of the first two jabs - Pfizer and Astrazeneca - to be rolled out across the UK.
With the latest software update, Oculus Quest 2 owners can play PC VR games streamed via WiFi, no strings or wires needed.
(Bloomberg) -- Just last year, the world’s most valuable startup, ByteDance Ltd., was being squeezed from all sides.The Trump administration wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets. Beijing was cracking down on tech businesses, and India blacklisted some of its social-media apps.For all the obstacles, ByteDance kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people -- a distinction that lately has carried increased risks in China.Shares of the company trade in the private market at a valuation of more than $250 billion, people familiar with the dealings have said. At that level, Zhang, who owns about a quarter of ByteDance, could be worth more than $60 billion, placing him alongside Tencent Holdings Ltd.’s Pony Ma, bottled-water king Zhong Shanshan and members of the Walton and Koch families in the U.S., according to the Bloomberg Billionaires Index.ByteDance, famous for its short-video apps and news aggregator Toutiao, more than doubled revenue last year after expanding beyond its core advertising business into areas such as e-commerce and online gaming. It’s now weighing options for the initial public offering of some businesses.“Zhang is someone who’s known for thinking long-term and not easily dissuaded by short-term setbacks,” said Ma Rui, partner at venture-capital firm Synaptic Ventures. “He is set on building an enduring, global business.”Surging ValuationDuring its last fundraising round, ByteDance reached a $180 billion valuation, a person with knowledge of the matter said. That’s up from $20 billion about three years ago, according to CB Insights. But in the private market, some investors recently were asking for the equivalent of a $350 billion valuation to part with their shares, people familiar have said. The company’s value for private-equity investors is approaching $400 billion, the South China Morning Post reported. That would mean an even bigger fortune for Zhang.ByteDance representatives didn’t respond to requests for comment.It’s a tough time to be wealthy in China as the government seeks to rein in the country’s most powerful corporations and their billionaire founders. Just ask Jack Ma: After opening an antitrust probe, regulators fined Alibaba a record $2.8 billion and the central bank ordered an overhaul of his Ant Group Co. fintech empire so it’d be supervised more like a bank. On Tuesday, China ordered 34 internet companies to rectify their anti-competitive practices in the coming month. While ByteDance hasn’t been singled out as a target, its dominance in social media and war chest for deal-making are sensitive areas the government is looking into.“There are no more silly games in the U.S. with Trump and potential bans or forced asset sales,” said Kirk Boodry, founder of investment research firm Redex Holdings. “But the pressure on tech-share prices and China in particular might make $250 billion a tough sell,” he added, referring to ByteDance’s value in private transactions.Born in the southern Chinese city of Longyan, Zhang, the only son of civil servants, studied programming at Tianjin’s Nankai University, where he built a following on the school’s online forum by fixing classmates’ computers. He joined Microsoft Corp. for a brief stint after graduating, later calling the job so boring he often “worked half of the day and read books in the other half,” according to an interview with Chinese media. He went on to develop several ventures, including a real estate search portal.His breakthrough came in 2012, when working in a four-bedroom apartment in Beijing he created ByteDance’s first hit -- a joke-sharing app later shut down by censors. It then turned to news aggregation before winning over more than 1 billion global users with its short-video platforms TikTok and Chinese twin app, Douyin. In the process, it attracted big-name investors such as SoftBank Group Corp., Sequoia Capital and proprietary-trading firm Susquehanna International Group, making it a rarity among Chinese internet startups that usually get absorbed into the wider ecosystems of Tencent and Alibaba Group Holding Ltd.Novel ConceptOne of Zhang’s earliest supporters, Susquehanna has become ByteDance’s largest outside backer with a 15% stake, according to a Wall Street Journal story in October. The initial bet was made at the start of 2012, when ByteDance’s news app Toutiao was just a concept that Zhang had drawn up on napkins, according to a 2016 blog post by Joan Wang, who led that investment for Susquehanna’s Chinese venture-capital unit.With TikTok facing scrutiny in the U.S. and India, Zhang has put more effort into ByteDance’s nascent and fast-growing Chinese businesses, which range from gaming to education to e-commerce. That helped it increase sales to about $35 billion last year and operating profit to $7 billion, a person familiar with the results said.Investors are eyeing the IPO of some of ByteDance’s businesses after Chinese competitor Kuaishou Technology raised $5.4 billion in February in the biggest internet listing since Uber Technologies Inc., with its market value now nearing $140 billion. Last month, ByteDance hired former Xiaomi Corp. executive Chew Shou Zi as its chief financial officer, filling a long vacant position that will be crucial for its eventual market offering.But for Zhang, it’s not all about immediate payoffs. The affable founder is known for his business philosophy of “delaying satisfactions” as he puts the focus on long-term growth -- a message he stressed again during his spiel to employees at the company’s ninth anniversary celebration last month.“Keep an ordinary mind, that’s something that sounds easy but important to do,” he said. “Put in the plainest words, when hungry, eat, when tired, sleep.”(Adds latest on China crackdown in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Scientists are ‘very concerned’ after a cluster of cases of the South African variant were found in the capital
New Zealand will force banks to reveal the impact their investments have on climate change under world-first legislation intended to make the financial sector's environmental record transparent, officials said.
John Morris' mother has blasted the club's treatment of her son after his announcement he would walk away immediately.
A man said his in-laws have made a mysterious and surprising discovery after tearing up the carpet while renovating their house.
A husband and wife can be found guilty of conspiring with each other, regardless of historical principles viewing them in a single unit, the High Court has held.Alo-Bridget Namoa, 23, was found guilty by jury for conspiring with her husband Sameh Bayda to do an act in preparation for a terrorist act in December 2015 and January 2016.
(Bloomberg) -- For decades, it’s been an article of faith in China’s credit market: Companies controlled by the central government will get bailed out if they ever run into trouble.Now investors aren’t so sure.Mounting concern about the financial health of China Huarong Asset Management Co. -- a distressed-debt manager controlled by the country’s finance ministry -- has fueled a record tumble in the company’s dollar bonds that’s stoking fears of market contagion.While China Huarong has said it has access to liquidity and is making payments on time, bond prices suggest investors are bracing for a potential restructuring that would be the country’s most consequential since the financial crisis that gave rise to China Huarong and other bad-debt managers in the late 1990s.Whether or not that comes to pass, the selloff underscores a historic shift in the world’s second-largest credit market. As Chinese President Xi Jinping dials back support for weaker borrowers to reduce moral hazard, state-owned enterprises have replaced their private counterparts as the country’s biggest source of defaults.SOEs reneged on a record 79.5 billion yuan ($12.1 billion) of local bonds in 2020, lifting their share of onshore payment failures to 57% from 8.5% a year earlier, according to Fitch Ratings. The figure jumped to 72% in the first quarter of 2021.The big question now confronting investors is how much pain China’s government is willing to tolerate as it tries to wean the bond market off implicit guarantees. None of the state-owned companies that have defaulted so far -- including Peking University Founder Group Corp., which is ultimately controlled by China’s education ministry -- were considered as systemically important as China Huarong.Chinese authorities have tried to strike a balance between instilling more market discipline and avoiding a sudden loss of confidence that might spiral into a crisis. But the tumult surrounding China Huarong, some of whose bonds are now trading below 80 cents on the dollar, highlights how quickly investor sentiment can deteriorate even at a time when the economy is strengthening.“China’s credit market is entering a new era as SOEs are emerging as the main source of stress,” said Shuncheng Zhang, an analyst at Fitch Ratings. Whatever the outcome for China Huarong, policy makers will likely allow more defaults in the state sector to reduce moral hazard and cultivate a more mature debt market, he added.The stakes are high as Beijing considers which companies to support. SOEs had the equivalent of $3 trillion in onshore bonds outstanding at the end of last year, or 91% of the total, data compiled by Fitch show. A small but growing portion of those bonds is now owned by international money managers, after a steady relaxation of China’s restrictions on foreign investment in recent years.While the speed of China Huarong’s debt rout has jolted some investors, the company has long been a source of potential risk. Its former chairman, Lai Xiaomin, was executed earlier this year for bribery. Under his leadership, China Huarong expanded into areas including securities trading and trusts that were a significant departure from the company’s original mandate of helping banks dispose of bad debt.This month’s selloff was triggered by China Huarong’s failure to publish 2020 preliminary earnings by a March 31 deadline, which business publication Caixin reported was due to a significant financial restructuring.Losses in the bonds accelerated on Tuesday -- spreading to other Chinese issuers including property developers -- as traders circulated a separate Caixin report discussing scenarios for China Huarong that included bankruptcy. The company is still considered investment grade by Fitch, Moody’s Investors Service and S&P Global Ratings, though all three have said they will review their ratings for a potential downgrade.China Huarong bonds extended declines on Wednesday, with prices falling by as much as 5 cents on the dollar. The yield on a 2022 note has reached 35%, according to data compiled by Bloomberg.It’s not the first time Beijing has grappled with the risk of credit-market contagion. A surprise onshore default by a state-linked coal producer in November triggered a brief selloff as investors reassessed the creditworthiness of investment-grade Chinese debt. Further defaults, including by prominent chipmaker Tsinghua Unigroup Co., also caused short-term market ructions but never came close to precipitating a crisis.Some level of contagion is actually healthy for China’s bond market as it shows investors are responding to changing levels of risk, according to Charles Chang, an analyst at S&P Global. He said recent SOE defaults have triggered a stronger reaction in bonds of peers than was the case a few years ago.“The new thinking is that as long as it doesn’t cause systemic risk, there isn’t necessarily a need for a bailout,” said Ivan Chung, an analyst at Moody’s Investors Service. “More SOE defaults are expected to occur in the future but they will likely be concentrated in fiscally weaker regions and sectors with heavy legacy debt and labor burdens.”It’s unclear whether Chinese leaders have discussed the fate of China Huarong’s bondholders, but there are signs authorities might be preparing to provide support to the company if needed.The finance ministry is considering transferring its controlling stake in China Huarong to a unit of the nation’s sovereign wealth fund that has more experience resolving debt risks, Bloomberg reported on Tuesday, citing a person familiar with the matter. The finance ministry aims to complete a transfer in the next few months, though any final decisions will require approval from China’s State Council, the person said.“The transfer, if realized, may offer more flexibility in financial support to Huarong,” said Bloomberg Intelligence analyst Dan Wang. “But it also indicates that Huarong’s debt risk may be much higher than the market had previously expected.”(Adds today’s trading in 14th paragraph. An earlier version of this story corrected the spelling of Huarong in the 12th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- A rally in Malaysian builders is gathering pace in the wake of more contract wins and a revival in mega infrastructure projects in the country.Kerjaya Prospek Group Bhd., one of Malaysia’s biggest contractors, said Friday it won its first job of 2021, sending its shares to a 20-month high this week. TCS Group Holdings Bhd. said that same day it secured its maiden infrastructure job linked to an expressway project. A gauge of 51 builders is up 16% from a Feb. 3 low, trouncing the FTSE Bursa Malaysia KLCI Index.Record-low interest rates and signs of government pump-priming has brought relief to the industry hit by the global pandemic and political turmoil from a change in government last year. The administration surprised analysts earlier this month when it said work on phase three of the Mass Rapid Transit project will start in the second half of 2021, sooner than expected. Details of another rail project costing 50 billion ringgit ($12 billion) have also been firmed up.Read: Malaysia Seeks Up to 30% Private Funding For MRT3 Project: Kini“Robust spending on infra will benefit related sectors such as transportation, power and building materials, as well as related services such as engineering and financial,” said Danny Wong, chief executive officer of Areca Capital Sdn. The firm had about 1.73 billion ringgit in assets as of April last year, according to its website.Malaysia set aside a record 69 billion ringgit ($17 billion) for development expenditure in its 2021 budget.‘Progressing Fast’Beneficiaries from the MRT3 project that’s now estimated to cost 32.9 billion ringgit and span a longer 50 kilometers include Gamuda Bhd., IJM Corp., Kimlun Corp. and Malaysian Resources Corp., Lum Joe Shen, an analyst at Kenanga Research, wrote in a note Wednesday.“We are net positive on the new details as behind-the-scene progress is picking up fast,” Lum said.Construction companies’ shares had been laggards because of overhangs including the political uncertainty and looming general elections, according to a April 2 report by Kenanga Research. The sector should be able to sustain its upward trajectory, albeit in a “choppy fashion,” it said.“The market is gradually recovering and there’s pent-up demand for properties backed by the low-interest rate environment,” Kerjaya’s Executive Chairman Tee Eng Ho said in a statement, after winning a 153.5 million ringgit contract linked to one of the largest mixed developments in Kuala Lumpur.(Updates with more analyst comments.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Former Minneapolis police officer’s defence gets underway
The truck driver was short on sleep and high on drugs when he crashed his semi-trailer into the group of police officers on the side of the road.
Brazil's Senate on Tuesday launched a probe into President Jair Bolsonaro's handling of the COVID-19 pandemic. The congressional investigation, known by its Portuguese acronym as a CPI, can result in a number of actions, including the referral of possible wrongdoing to law enforcement. In practice, the inquiry is a political headache for Bolsonaro, who is already facing record disapproval amid Brazil's worst coronavirus wave.
(Bloomberg) -- Most Asian stocks climbed in early trade following gains in U.S. equities and bonds, as investors shrugged off a higher-than-forecast rise in U.S. inflation to focus on the path of the global recovery.Hong Kong’s benchmark rose and tech stocks lifted China, but shares dipped in Japan amid concerns a slow vaccine rollout will crimp activity. U.S. equity futures were steady following another all-time high for the S&P 500 and Nasdaq 100 indexes, as the White House said the U.S. inoculation campaign remains on track despite a pause in Johnson & Johnson doses amid health concerns.Treasuries held gains after a successful sale of 30-year bonds, which settled fears of poor demand sparking another bout of volatility. The U.S. dollar retained the prior session’s losses.Traders are watching for any further tremors in Asia’s credit markets, after a sharp selloff in one of China’s largest bad-debt managers raised questions about other heavily leveraged borrowers.The latest data showing U.S. consumer prices rose more than expected last month have had little impact given the distortions surrounding the year-earlier collapse in price pressures. Investors still appear confident that the recovery remains on track with support from central banks and government spending.“A lot of growth and inflation have already been priced into the market,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management. “It’s almost as if you need to exceed those expectations in order to see a more pronounced reaction from markets.”Runaway inflation, along with higher borrowing costs and taxes, have replaced the pandemic as the top concerns for global fund managers, according to the latest Bank of America Corp. survey.Meanwhile, Bitcoin jumped to an all-time high, and the Nasdaq set a reference price of $250 for the direct listing of Coinbase Global Inc., the cryptocurrency exchange that will start trading Wednesday. Oil traded above $60 a barrel.Some key events to watch this week:Banks and financial firms begin reporting first-quarter earnings, including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Morgan Stanley, Goldman Sachs Group Inc.Economic Club of Washington hosts Fed Chair Jerome Powell for a moderated Q&A on Wednesday.U.S. Federal Reserve releases Beige Book on Wednesday.U.S. data including initial jobless claims, industrial production and retail sales come Thursday.China economic growth, industrial production and retail sales figures are on Friday.These are some of the main moves in financial markets:StocksS&P 500 futures were flat as of 10:46 a.m. in Tokyo. The index closed 0.3% higher.Japan’s Topix Index was 0.3% lower.The Shanghai Composite was up 0.4%.The Hang Seng rose 1.4%.South Korea’s Kospi Index was flat.Australia’s S&P/ASX 200 Index was 0.5% higher.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The yen was up 0.2% at 108.86 per dollar.The euro was at $1.1959.The offshore yuan traded around 6.5398 per dollar.BondsThe yield on 10-year Treasuries held at 1.61% after slipping in U.S. trade.Australia’s 10-year yield was seven basis points lower at 1.75%.CommoditiesWest Texas Intermediate crude rose 0.6% to $60.56 a barrel.Gold was at $1,746.28 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
BASEL, Switzerland, April 13, 2021 (GLOBE NEWSWIRE) -- In a press release issued under the same headline earlier today by VectivBio Holding AG (Nasdaq: VECT), please note that in the first sentence of the first paragraph, the figure of the additional ordinary shares should be 1,125,000, not 1,250,000. The corrected release follows: VectivBio Holding AG, (“Vectiv” or “VectivBio”) (Nasdaq: VECT), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe rare conditions for which there is a significant unmet medical need, today announced the closing of its initial public offering of 8,625,000 ordinary shares, which includes the full exercise of the underwriters’ option to purchase an additional 1,125,000 ordinary shares, at a public offering price of $17.00 per share. The gross proceeds from the offering were approximately $146.6 million. Vectiv’s ordinary shares began trading on the Nasdaq Global Market under the ticker symbol “VECT” on April 9, 2021. All of the ordinary shares were offered by Vectiv. BofA Securities, SVB Leerink and Credit Suisse acted as joint book-running managers for the offering. LifeSci Capital also acted as an underwriter for the offering. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: may be obtained from BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by telephone at (800) 294-1322, or by email at email@example.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525 ext. 6105 or by email at firstname.lastname@example.org; or Credit Suisse Securities (USA) LLC Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at (800) 221-1037 or by email at email@example.com. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on April 8, 2021. Copies of the registration statement can be accessed by visiting the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About VectivBio VectivBio (Nasdaq:VECT) is a global, clinical-stage biotechnology company focused on the discovery, development and commercialization of innovative treatments for severe rare conditions with high unmet medical need. The company is committed to pursuing product candidates with a clear mechanism of action and the potential to meaningfully transform and improve the lives of patients and their families. VectivBio’s product candidate, apraglutide, is a next-generation GLP-2 analog being developed as a differentiated therapeutic for a range of rare gastrointestinal (GI) diseases. Apraglutide is currently being evaluated in a global phase 3 clinical trial as a once-weekly treatment for short bowel syndrome with intestinal failure (SBS-IF). InvestorsGraham Morrellgraham.firstname.lastname@example.org MediaMorgan Warners+1 202 295 email@example.com
Kevin Walters was left speechless when asked if Anthony Milford's million-dollar-a-season price tag had been a burden on him, before declaring his surprise that the axed Brisbane No.6 is still playing after copping years of unfair scrutiny.
The countdown is on for the Tokyo Olympics.The Games are scheduled for July 23 to August 8, and the Paralympics from August 24 to September 5.The one-year delay has already brought with it plenty of complications, and there are still some unanswered questions regarding things like: spectator numbers, and the so-called ‘Playbooks’.Some 11,000 Olympic athletes will compete in 33 sports, while over 4,000 Paralympians will compete across 22 sports.But with Japan’s elderly population only just starting to receive inoculations – there will be a need for restrictions still.International spectators will not be allowed. (SOUNDBITE) (Japanese) TOKYO 2020 PRESIDENT, SEIKO HASHIMOTO, SAYING:"I myself as an athlete participated in the Olympics a number of times so the fact that overseas spectators are not able to attend the Games is very disappointing."Organizers plan to decide in April on the maximum number of local fans permitted in venues.Japanese sports arenas have been recently been operating at up to 50% capacity.Are athletes required to be vaccinated?The simple answer is: No.But the International Olympic Committee urges them to be vaccinated once vaccinations are made available to the general population of their countries.Participants must follow the health guidelines in their "Playbook."What is it?First unveiled in February, the ''Playbooks'' outline the rules that all Games participants must follow.That includes mandatory mask-wearing, keeping 2-metres' distance from athletes, and clapping instead of singing or shouting to show support.Athletes will also be tested at least once every four days.(SOUNDBITE) (English) JOHN COATES, IOC COORDINATION COMMISSION CHAIR, SAYING:"I have no hesitation in saying that the Games will take place and they'll be the safest Games possible.''Japan is holding several test events – seen as dress rehearsals to confirm the Games' operational capabilities at venues and test out health protocols.Early May will see four such events with athletes coming from abroad.There will be no shortage of compelling action once the Games kick off.Four sports will debut at this year's Olympics: karate, sport climbing, surfing, and skateboarding.Several stars from French judoka Teddy Riner to American swimmer Katie Ledecky will be back in the quest for more gold.Japanese swimmer Rikako Ikee competing after her recovery from leukaemia will no doubt be among the most emotional moments of the Games.