Germany, France, Italy and Spain have suspended the use of AstraZeneca’s COVID-19 vaccine after several reports of blood clots in people who received the shot in Europe.
The flurry of suspensions on Monday came after a number of other countries, mostly in Europe, halted their rollouts late last week.
The World Health Organization (WHO) has backed the use of the vaccine and said it has seen no evidence that the shot had caused clotting.
The UN health agency is reviewing the reports related to shot and urged countries not to suspend vaccinations, as its top scientist said people should not panic.
The European Medicines Agency (EMA) said in a statement that it has not found any evidence of links between reported thrombosis cases and the AstraZeneca shot, saying that the shot’s benefits outweigh the risks and was safe to use. The regulator is reviewing the shot and will issue a decision on any further action on Thursday, it said.
EU members halt shots
German Health Minister Jens Spahn said the country suspended the use of the shot on the advice of the national vaccine regulator, the Paul Ehrlich Institute.
The institute had called for further investigation into seven reported cases of clots in the brains of people who had received this vaccination.
“Today’s decision is a purely precautionary measure,” Spahn said.
France and Italy announced similar moves shortly afterwards.
French President Emmanuel Macron said the use of the AstraZeneca shot would be suspended as a precautionary measure until at least Tuesday afternoon when the European Union’s medicines regulator – the EMA – will issue its recommendation over the vaccine.
Macron did not elaborate on the reasoning behind the decision, but told a news conference he hoped France would be able to vaccinate with AstraZeneca shots again “soon”.
Italy’s medicines authority AIFA meanwhile said it was implementing its own suspension as a “precautionary and temporary measure” pending rulings by the EMA.
The announcement followed the seizure of hundreds of thousands of doses of the vaccine by Italian prosecutors in the northern region of Piedmont, where a teacher died following his vaccination.
Experts are investigating whether there is a connection between his death and the vaccination.
Late on Monday, Spain’s Health Minister Carolina Darias said the country was suspending its use of the vaccine for two weeks as a “precaution”.
She said the decision would remain in place until the EMA “analyses the recent incidences of blood clots, notably over the weekend”.
AstraZeneca has said there is no cause for concern with its vaccine, which is jointly produced with the United Kingdom’s University of Oxford, and that there were fewer reported thrombosis cases in those who received the shot than in the general population.
Peter Drobac of Oxford University told Al Jazeera the AstraZeneca vaccine went through “rigorous clinical trials” and blood clots were not identified as a problem.
“The safety pause, I think it is certainly the prerogative of the regulators in these countries. However we have heard from the World Health Organization, the European Medicines Agency and others, that at this point the benefits of vaccination clearly outweigh the risks,” Drobac said.
WHO urges calm
The EMA and the WHO also said available data does not suggest the vaccine caused the clots and people should continue to be immunised with the shot.
The WHO on Monday called on countries not to suspend vaccinations against a disease that has caused more than 2.7 million deaths worldwide. The UN health agency’s top scientist reiterated that there have been no documented deaths linked to COVID-19 vaccines.
“We do not want people to panic,” Soumya Swaminathan said, adding there has been no association, so far, pinpointed between so-called “thromboembolic events” reported in some countries and COVID-19 shots.
The reassurances appear to have done little to calm doubts, however, with several countries having now temporarily halted the use of the AstraZeneca vaccine in recent days.
Denmark, Norway, Ireland, the Netherlands, Iceland, Bulgaria, Portugal and Slovenia were among those to suspend the use of the shot.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
