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NEW: Supreme Court lets Trump administration end census count early. No explanation given. Sotomayor dissents.— Greg Stohr (@GregStohr) October 13, 2020 166
New results on a possible COVID-19 vaccine from Oxford University and drugmaker AstraZeneca suggest it is safe and about 70% effective.Some experts say that shows it is likely to win approval, but questions remain about how well it may help protect those over 55. That's a key concern for a vaccine that health officials hope to rely on around the world because of its low cost, availability and ease of use.Partial results from tests of the vaccine in the United Kingdom, Brazil and South Africa were published Tuesday by the medical journal Lancet.“Today, we have published the interim analysis of the Phase III trial and show that this new vaccine has a good safety record and efficacy against the coronavirus,” said Professor Andrew Pollard, Director of the Oxford Vaccine Group and Chief Investigator of the Oxford Vaccine Trial. “We are hugely grateful to our trial volunteers for working with us over the past eight months to bring us to this milestone.”Researchers claim the vaccine protected against disease in 62% of those given two full doses and in 90% of those initially given the half dose. However, independent experts have said the second group was too small — 2,741 people — to judge the possible value of that approach and more testing is needed.The interim analysis for efficacy was based on 11,636 participants accruing 131 symptomatic infections from the Phase III trials.In addition to the Oxford led program, AstraZeneca is conducting a large study in the US and globally. In total, Oxford University and AstraZeneca expect to enroll more than 60,000 participants globally.The company says it’s also making progress in manufacturing with a capacity of up to 3 billion doses of the vaccine in 2021 on a rolling basis, pending regulatory approval. The vaccine can be stored, transported and handled at normal refrigerated conditions for at least six months and administered within existing health care settings. 1940
NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman ever to lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that oversees checking and savings accounts but also Citi's massive credit card business. For 16 years, Fraser has worked in various departments within Citi:- 2015-19: Chief Executive Officer of Citi’s Latin American region.- 2013-15: Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. - 2009-13: Chief Executive Officer of Citi's Private Bank. - 2007-09: Global Head of Strategy and Mergers & Acquisitions.In 2004, she joined the company in its Corporate and Investment Banking division.She previously worked at McKinsey & Company, Goldman Sachs, and Asesores Bursátiles.Fraser also serves as a member of the Board of Dean’s Advisors at Harvard Business School and Stanford University’s Global Advisory Council. She's also a member of the Council on Foreign Relations.She earned her M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.Fraser's climb to the CEO role is a major accomplishment in an industry long dominated by men. Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis.Corbat had been with the company for 37 years. 1500
NEW YORK (AP) -- The nation's largest beauty chain has a deal to place shops in more than 100 Target stores by mid-2021.Ulta Beauty and Target said Tuesday that the shops will be located next to Target's existing beauty sections. Financial terms of the deal weren't disclosed.The partnership comes as the coronavirus pandemic has upended shopping habits. Customers are increasingly focused on one-stop shopping experiences as a way to minimize exposure to COVID-19.But the deal could hurt department stores like Macy's, which had already seen their share of their beauty business eroded even before the pandemic. 620
NEW YORK (AP) — The satellite radio company SiriusXM has locked up its most valuable asset, Howard Stern, for five more years in a deal announced Tuesday. Terms were not disclosed. Stern was already making a reported million a year. He's invaluable to the company, which had 600,000 subscribers when Stern announced in 2004 that he was joining and now has nearly 35 million. "I had been in a toxic relationship with terrestrial radio. And no matter how well I treated the medium, no matter how successful I made them, they abused me," Stern said in a press release. "Going to SiriusXM liberated me. I felt like Tina Turner freeing myself from Ike," said Stern. "And despite the naysayers and the ridicule, we have persevered, and are thriving. I've been proven right about satellite radio over and over again. With this contract renewal, I can't wait to see what else I'll be right about.The deal also gives SiriusXM exclusive rights to Stern's audio and video library through 2032. In the press release, SiriusXM CEO Jim Meyer said the company "couldn't be happier" to continue working with the legendary shock-jock."Howard's home has been SiriusXM and it will remain that way, but we've expanded SiriusXM in recent years too, and we are excited about finding the right ways that select content from Howard can find audiences on additional platforms," Meyer said. "May I add, I consider Howard a close friend and look forward to listening to him for years to come."Stern, who's been working remotely due to the pandemic like millions of Americans, said Tuesday that now that he can work from home, 'I simply don't have an excuse to quit.' 1651