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Russia says Sputnik V COVID-19 vaccine is 92 percent effective – Aljazeera.com

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Russia’s Sputnik V vaccine is 92 percent effective at protecting people from COVID-19 according to interim trial results, the country’s sovereign wealth fund said on Wednesday, as Moscow rushes to keep pace with Western drugmakers in the race for a shot.

The initial results are only the second to be published from a late-stage human trial in the global effort to produce vaccines that could halt a pandemic that has killed more than 1.2 million people and ravaged the world economy.

The results are based on data from the first 16,000 trial participants to receive both shots of the two-dose vaccine, the Russian Direct Investment Fund (RDIF), which has been backing its development and marketing it globally, said.

“We are showing, based on the data, that we have a very effective vaccine,” said RDIF head Kirill Dmitriev, adding that it was the sort of news that the vaccine’s developers would talk about one day with their grandchildren.

The analysis was conducted after 20 participants in the trial developed COVID-19 and examined how many had received the vaccine versus a placebo.

That is significantly lower than the 94 infections in the trial of a vaccine being developed by Pfizer Inc and BioNTech. To confirm the efficacy rate, Pfizer said it would continue its trial until there were 164 COVID-19 cases.

RDIF said the Russian trial would continue for six more months and data from the study will also be published in a leading international medical journal following a peer review.

European stocks and US stock futures extended their gains slightly after Russia’s announcement.

Another boost

Russia’s announcement follows swiftly on from results posted on Monday by Pfizer and BioNTech, which said their shot was also more than 90 percent effective.

The Russian results are another boost to other COVID-19 vaccines currently in development and are a proof of concept that the disease can be halted with a vaccination.

Experts said knowledge about the trial’s design and protocol was sparse, making it difficult to interpret the figures released on Wednesday.

Scientists have raised concerns about the speed at which Moscow has worked, giving regulatory go-ahead for the shot and launching a mass vaccination programme before full trials to test its safety and efficacy had been completed.

Russia registered its COVID-19 vaccine for public use in August, the first country to do so, though the approval came before the start of the large-scale trial in September.

The so-called phase three trial of the shot developed by the Gamaleya Institute is taking place in 29 clinics across Moscow and will involve 40,000 volunteers in total, with a quarter receiving a placebo shot.

The chances of contracting COVID-19 were 92 percent lower among people vaccinated with Sputnik V than those who received the placebo, the RDIF said.

That is well above the 50 percent effectiveness threshold for COVID-19 vaccines set by the US Food and Drug Administration.

“I can see no a priori reason to disbelieve these results, but it’s so very hard to comment, because there is so little data there,” said Danny Altmann, a professor of Immunology at Imperial College London.

He said while the Russian release was similar in its level of detail to the one from Pfizer and BioNTech, the key difference was that Pfizer’s release came against a backdrop of a wealth of published data on how the trial was designed, its protocol, and what its endpoints were.

The results of the early-stage trials were peer-reviewed and published in September in The Lancet medical journal.

Sputnik V

The Russian drug is named Sputnik V after the Soviet-era satellite that triggered the space race, a nod to the project’s geopolitical importance for Russian President Vladimir Putin.

The vaccine is designed to trigger a response from two shots administered 21 days apart, each based on different viral vectors that normally cause the common cold: human adenoviruses Ad5 and Ad26.

The Pfizer and BioNTech vaccine uses messenger RNA (mRNA) technology and is designed to trigger an immune response without using pathogens, such as actual virus particles.

Russia is also testing a different vaccine, produced by the Vector Institute in Siberia, and is on the cusp of registering a third, Putin said on Tuesday, adding that all of the country’s vaccines were effective.

RDIF said as of November 11 no serious side effects had been reported during the Sputnik V Phase III trial.

Some volunteers had short-term minor adverse effects such as pain at the injection site, flu-like symptoms including fever, weakness, fatigue, and headaches, it said.

Mass vaccinations

Successful vaccines are seen as crucial to restoring daily life around the world by helping end the health crisis that shuttered businesses and put millions out of work.

Russia registered the vaccine for domestic use in August and has also inoculated 10,000 people considered to be at high risk of COVID-19 outside of the trial

Putin has said Russia expects to start mass vaccinations by the end of the year.

“The publication of the interim results of the post-registration clinical trials that convincingly demonstrate Sputnik V vaccine’s efficacy gives way to mass vaccination in Russia against COVID-19 in the coming weeks,” Alexander Gintsburg, director of the Gamaleya Institute, said.

Moscow is rolling out a large network of vaccination rooms and residents who want the shot may be able to get it as early as next month if large volumes of doses are supplied by then, Deputy Mayor Anastasia Rakova said on October 30.

However, production challenges remain. Earlier estimates that Russia could produce 30 million doses of the vaccine this year have since been scaled down.

Moscow aims to produce 800,000 doses this month, industry minister Denis Manturov has said, followed by 1.5 million in December. But significantly higher volumes of output per month are expected from early 2021.

Manturov cited issues with scaling up production from small- to large-volume bioreactors, while Putin last month cited issues with the availability of equipment.

In late October, the vaccination of new volunteers was temporarily paused due to high demand and a shortage of doses.

Officials have said domestic production of the vaccine will be used first to meet Russia’s needs.

RDIF, however, has also struck several international supply deals, amounting to 270 million doses in total.

It is expected these will in large part be produced in other countries and RDIF has previously announced a deal to manufacture 300 million doses in India and an undisclosed amount of doses in Brazil, China and South Korea.

Trials have also begun in Belarus, and are on track to begin soon in the United Arab Emirates, Venezuela and India.

Russia reported 19,851 new coronavirus infections in the past 24 hours and a record high of 432 deaths. At 1,836,960, its overall case tally is the fifth largest in the world, behind the United States, India, Brazil and France.

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Dollarama keeping an eye on competitors as Loblaw launches new ultra-discount chain

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September 11, 2024

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Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.

“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.

“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”

Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.

However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.

The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.

Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.

“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.

Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.

“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.

The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.

The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.

The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”

“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.

Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.

Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.

She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”

Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.

To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.

“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”

The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.

“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.

“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:DOL)

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U.S. regulator fines TD Bank US$28M for faulty consumer reports

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September 11, 2024

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TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.

The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.

It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.

CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.

TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.

The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.

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Amazon rejects plea to stop selling taxi roof signs as cab scam spreads across Canada

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September 10, 2024

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After a long day at a work event in July, Kathryn Kozody was relieved when she spotted a car with a lit-up taxi sign.

She thought it was odd when the driver told her she’d have to pay her fare with a debit card. Still, a tired Kozody hopped in the car.

“I was like, ‘Fine, it’s kind of weird, but let’s go home,'” said Kozody, who lives in Calgary.

Nothing else seemed off — until the next day when she discovered that almost $2,000 was missing from her bank account. On top of that, her debit card had someone else’s name on it.

Kozody concluded that the taxi driver was a fraudster who, during the debit card transaction, recorded her PIN, stole her card and handed her back a fake.

“I started freaking out,” she said. “It’s terrifying when they have your debit card.”

It took Kozody about two weeks to get her money back from her bank, and she’s still rattled by the experience.

The day after taking what she thought was a ride in a taxi, Kathryn Kozody of Calgary found out someone had withdrawn almost $2,000 from her bank account. (James Young/CBC News)

“It really felt like an invasion of privacy and a violation to be a victim of this scam,” she said. “I really don’t want it to happen to anybody else.”

The taxi scam isn’t new; Toronto and Montreal have been seeing it for years. But the crime is becoming more widespread.

This summer, police in Calgary, Edmonton and at least five cities in southern Ontario, including Kingston and Ottawa, posted warnings online that they had received multiple reports of the scam.

Police and the Canadian Taxi Association say the fraudsters have a helping hand: with the click of a button, they can purchase a generic — but official looking — taxi roof sign on e-commerce sites like Amazon.

Edmonton Police posted this alert on Facebook in July, warning people about an ongoing taxi scam. The city’s police department says that it received about 10 reports of the scam that month. (Edmonton Police/Facebook )

The taxi association has asked Amazon, by far Canada’s most popular online shopping site, to stop making the roof signs so easily available.

“They do have a moral responsibility to at least sell the signs to individuals that are properly licensed,” said association president Marc André Way.

However, the U.S.-based company continues to sell the product to all customers.

“These lights are legal to sell in Canada,” Amazon told CBC News in an email.

‘Eye-popping’ numbers

The taxi scam has several variations but typically ends the same way: the victim pays with a debit card, then the scammer secretly steals it and hands the victim a similar but fake card. Shortly thereafter, money disappears from the victim’s account.

Ron Hansen, deputy chief of police in Sarnia, Ont., said his department received 12 reports of the scam in July, with one victim losing $9,900.

Toronto police report that since June 2023 the department has received 919 reports of the taxi scam, totalling $1.7 million in losses.

Jessica Chin King of Toronto said after a recent cab ride, she got a suspicious activity alert from her bank. She learned $600 had been withdrawn from her account. (Craig Chivers/CBC)

The numbers are “eye-popping,” said Toronto police detective David Coffey.

“When they do get a victim, they are quick to go right into the bank accounts. They’re quick to empty them out.”

Jessica Chin King of Toronto said just 15 minutes after a recent cab ride, she got a suspicious activity alert from her bank. Turns out, $600 had been withdrawn from her account.

“I was like, ‘Wow, I can’t believe that just happened.’ I was in shock,” said Chin King, whose bank later reimbursed the cash.

She said she too was fooled by the taxi sign atop the car.

“I was in the car with somebody who wasn’t a taxi driver. Anything could have happened,” she said. “I was thankful that it was only my bank [account] that was compromised.”

Taxi light for $35 on Amazon

CBC News bought a taxi sign from Amazon for $35. It has a magnetic strip on the bottom, so it easily sticks to the top of a car.

To power the light, an attached wire can be run through the driver’s window and plugged into the car’s auxiliary power outlet, also known as the cigarette lighter outlet.

The taxi association says licensed taxi drivers typically get their roof signs from speciality suppliers, and they are hardwired to the car — not powered via the cigarette lighter.

“When you see that … it’s obvious that it’s not a legitimate taxi,” said Way, the association president.

Last month, Way sent Amazon a letter on behalf of the Canadian Taxi Association, asking it to stop selling the product.

“This is not a safe, practical way to distribute the trusted ‘Taxi’ signs,” he wrote.

CBC News ordered this $35 taxi sign on Amazon. The attached wire can be run through the driver’s window and plugged into the car’s auxiliary power outlet, while the lights for licensed drivers are hardwired into the vehicle. (Sophia Harris/CBC News)

But Amazon told Way — and CBC News — the signs will remain on its site, because the company isn’t breaking any rules.

“It’s going to be quite difficult, I think, for anyone to stop Amazon from selling a product that is perfectly legal to sell,” said Toronto criminal lawyer, Daniel Goldbloom. “It’s true that these taxi signs can be used to commit scams, but kitchen knives can be used to commit murder — and we don’t stop retailers from selling those.”

But Way isn’t giving up hope.

He says the taxi association also plans to ask other online retailers, such as Temu and eBay, to stop selling the taxi signs and will lobby provincial governments for legislation that regulates the sale of the product.

However, Coffey said he believes the best way to fight the taxi scam is to educate people about it.

“Never, never give another person control of your debit card,” the detective said.

Victims Chin King and Kozody also want to spread the word.

“The more people know, the less likely it is to happen again to somebody else,” Kozody said.

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