(Mon) Sanofi eyes vaccine approval by early 2021
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Sanofi said Tuesday it expects to get approval for a potential coronavirus vaccine by the first half of next year - faster than was previously thought. The French drugmaker is developing the medicine with Britain's GlaxoSmithKline. In April, they had said the vaccine would be available in the second half of 2021. Many drugmakers are racing to come up with a safe and effective vaccine that can be produced on a large scale. Moderna, AstraZeneca and Pfizer all moved to human trials as early as March. But Sanofi CEO Paul Hudson said their rivals were not assured of securing victory - and claimed moving at speed could lead to less effective results. He said the probability of success for his company is 'higher than anybody else'. Sanofi is currently working on two vaccine projects. Clinical trials of the drug developed with GSK are due to start in September. Sanofi said trials of a separate vaccine should begin around the end of 2020. The drugmaker said it had capacity to produce up to 1 billion doses a year of the vaccine it is working on with GSK.
(Tue) Apple switches to its own chips for Mac computers
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"It truly is an historic day for the Mac." Apple CEO Tim Cook on Monday announced the company will start to use its own chips for its Mac computers, ending an almost 15-year partnership with Intel. "Now it's time for a huge leap forward for the Mac because today is the day we're announcing that the Mac is transitioning to our own Apple silicon." The transition - which Cook said will take about two years - brings the Mac computer into line with the company's iPhone and iPads, which are already powered by Apple designed chips. The news came at the tech giant's annual conference for software developers, which was held virtually for the first time ever. At the event, Apple unveiled a new feature that allows you to unlock and start your car using your iPhone. If you drive a new BMW - at least. The feature - which also lets users share digital car keys with friends and family members, will work with BMW 5 Series vehicles that will start shipping next month. Apple says it plans to add more cars that work with the system next year. During the keynote, Apple also shared details about its upcoming iOS 14 operating system , including big changes to its home screen on the iPhone. The new software will make it easier to organize apps and will allow users to add widgets to their home screen.
(Wed) Paris sees spike in e-bike sales as lockdown eases
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The new normal means a new way to get around for the people of Paris, as a surge in demand for electric bikes is filling cycle lanes around the French capital. Commuters wary of using the city¡¯s metro have taken to two wheels to get around, leading to an increase in e-bike sales since restrictions on travel were enforced back in mid-April. David Jungels works at the Ecox electric bike store and has benefited from people¡¯s interest. ¡°For the month of May, it's true that we feel, through sales figures and customer influx in the store, that it has doubled or tripled compared to a normal month of May." Even before lockdown measures were imposed, e-bikes were gaining in popularity around Paris, as its public transport systems came to a halt because of strike action over pension reforms. Christophe Caffir bought his new e-bike just last week. "My partner would want to stop taking the metro and start using electric bikes. We also have a young baby who's a bit over one year old, and I'm sure he will love riding the bike in the backseat and go around Paris." Paris is a city becoming more bike friendly, with over 1,000 kilometers of bike lanes and incentives of up to 400 euros in subsidies for residents wanting to purchase a new e-bike.
(Thu) UK makes tracing app U-turn for Google-Apple system
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A U-turn for the British government over its stalling test-and-trace app. The decision was taken on Thursday to switch to Apple and Google technology to get the troubled program officially up and running. British Prime Minister Boris Johnson previously stated that the UK app would be "world-beating," but the original centralized model has been beset with problems, and the nationwide rollout has now been pushed back until the end of the year. UK Health Secretary Matt Hancock explained the thinking behind the change. "We are working on it is the answer - we are not going to put a date on it I'm afraid because I'm absolutely determined that whilst this technology can help, it's got to be working effectively and you know, the central point of test and trace is actually the fact that when you are identified as at risk , you then isolate, and asking people to isolate for two weeks is a big thing. And so I would not recommend an app unless I¡¯m confident in it.¡± Ministers have already had to admit to technical issues with the app - which is being tested on the Isle of Wight - which meant that it was not ready for use when England had hoped to launch the test and trace system at the end of last month. Apple and Google have now been in talks with Britain about a change in technology to a decentralized model, which would give users more privacy protection but less inside of potential outbreaks. The firms have barred authorities from using their software to collect GPS location data or even require users to enter personal data. Britain's adoption of this 'decentralized' approach would be in line with a growing number of European countries, including Italy, Switzerland, Germany, and Austria.
(Fri) Stock rally takes a pause as new COVID-19 cases spike
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It was time for a break on Wall Street after a three-day run up. Investors were coaxed Wednesday into sitting on the sideline as the number of new cases rise sharply in about six U.S. states where stay-at-home restrictions have been relaxed. The Dow and the S&P posted modest losses, while the Nasdaq managed to hold a small gain. The cautious tone overshadowed another round of upbeat news on the economy. Applications for new mortgages surged to 11-1/2 year highs, new housing construction projects bounced higher in May and permits for future projects suggest robust activity to come. It's news like that - which has helped stocks rally 40 percent since March - that will likely support further moves higher, says Summit Place Financial Advisors President Liz Miller. "The biggest question of everyone is 'wow this market has come back very strong. Has it come back too strong? Is it too far ahead of itself?' Well I think the market is giving us short-term results. The market is reflecting the optimism coming out of these data points, showing us that investors and consumers are very optimistic and anxious to get our economy going again. And that's going to get us a good part of the way there." But in a reminder there are still companies struggling out there... Hertz is pulling a planned sale of $500 million worth of new stock. The bankrupt car rental company came under fire from the U.S. Securities and Exchange Commission for planning to take on new investors at the same time it is in bankruptcy court. Cruise stocks were docked. Norwegian Cruise Lines extended a suspension on any voyages through September. The stock was down roughly 8 percent. Carnival Corp and Royal Caribbean were down as well.