After interim analysis CureVac defends its vaccine

Status: 06/18/2021 10:19 a.m.

Although an interim analysis of the CureVac vaccine only showed an effectiveness of 47 percent, company boss Haas does not want to know anything about a failure. He is hoping for further tests so that the vaccine will be ready for the market after all. The negative news for the Tübingen company CureVac continues. At first, the company lagged behind the competition in developing its corona vaccine. Then the company went late to the crucial phase 3 to test its vaccine – at that time there were already several variants of the coronavirus. The next bad news followed yesterday: CureVac announced in a mandatory stock market announcement that, according to an interim analysis, its corona vaccine had a preliminary effectiveness of 47 percent against Covid 19 disease “of any severity” have. The value is significantly higher for the other preparations approved in the EU.

“Wild type hardly plays a role anymore”

Company boss Franz-Werner Haas has now gone on the offensive. He defended the company’s corona vaccine against the dpa news agency. No other vaccine has been tested on so many virus variants, he said.

“In fact, it is actually not correct to compare the number of the provisional effectiveness of our corona vaccine and the numbers of the effectiveness of other vaccines”said Haas. The study on the corona vaccine candidate CVnCov contained 29 virus variants. The original virus, the wild type, hardly plays a role anymore. “The efficacy figures for the other vaccines would probably look different if their studies had been carried out at a later date.”

Degree in three weeks

The Tübingen-based company would like to complete the analysis of the data from the final study phase in the next two to three weeks. Haas was convinced that the effectiveness of the vaccine would change again. As soon as this has been completed, CureVac will advise the EMA as to whether further data is required.

The company remains convinced that it will bring its vaccine to approval. According to Haas, even a possibly relatively low effectiveness should not stand in the way. “In view of the pandemic, it can only be said: If there is an effective vaccine, it should also be used.” Haas also referred to the numerous developing countries in which little or no corona vaccines are currently available. The scientific director of the vaccine study at CureVac, Peter Kremsner, believes that it will certainly be possible to make the vaccine operational. In an interview with the BR he said: “That will work for sure. From my point of view, this will not be possible in the next few weeks. But it will be possible to prepare the vaccine so that it can be very effective.”

“It was a noble cause”

The SPD health expert Karl Lauterbach estimates that the setback when entering the market will contribute to the vaccination campaign losing pace for two to three weeks. The promise of the federal government to make a vaccination offer to all adults by the end of the summer is not at risk. “We will reach herd immunity in mid-September”said Lauterbach in the daily topics .

Lauterbach pointed out that the CureVac serum is the “noble” I wanted to be a cheap and very effective vaccine. It would have been predestined for poorer countries. The EU had promised 400 million doses of CureVac to poorer countries. Lauterbach assessed it as a tragedy that this delivery has now been canceled.

No withdrawal of the investor

The announcement of the preliminary effectiveness had caused a drastic plunge in the stock exchange price of CureVac. Investor Dietmar Hopp still believes in the company. He will definitely stay as an investor, he said “Munich Mercury”. He is a firm believer in the company.

The federal government is also holding on to its stake in CureVac, as the Ministry of Economic Affairs said. Last year, he entered CureVac through the KfW development bank with 300 million euros and, according to KfW, holds a share of 16 percent. The federal government has no influence on the operational business, explained the ministry spokeswoman

Corona vaccine CVnCoV Bad Intermediate result for CureVac

As of: 06/17/2021 6:42 a.m.

Setback for CureVac: The corona vaccine CVnCoV only showed an effectiveness of 47 percent in the second interim analysis, said the Tübingen-based company. The study is to be continued. CureVac’s corona vaccine candidate CVnCoV missed the statistical targets in a second interim analysis. The Tübingen-based company announced this in a mandatory notification. There it says: “In a previously unprecedented environment with at least 13 variants within the subset of study participants examined in this interim analysis, CVnCoV achieved a preliminary effectiveness of 47 percent against COVID-19 disease of any severity and thus did not meet the specified statistical success criteria.” Initial analyzes have shown that the effectiveness depends on the age group examined and the virus strains, the company continues. The vaccine candidate is in the final stage of clinical development. CEO Franz-Werner Haas announced that one had hoped for stronger results in the interim analysis. But continue the current study until the final analysis.

Actually soon approval is planned

Until the beginning of June it had been said that the company expected – depending on the clinical trial data – the approval of its vaccine candidate in the EU at least for the second quarter. But shortly afterwards it became known that the proceedings would be further delayed.

CureVac, which works with Bayer, had long been considered one of the hopes in the competitive race for approval of the first corona vaccines. But while vaccines have been administered by numerous competitors worldwide for months, the Tübingen-based company is still collecting data – and recently had repeatedly put off shareholders and observers.

Business support Only a few corona aid accessed

Status: 06/17/2021 10:08 a.m.

The federal government had made available 150 billion euros for companies as corona aid in grant programs – according to the Ifo Institute, just 24 percent of this was accessed. Companies in Germany have so far called on much less Corona aid than planned by the federal government. “Only a fraction of the budgeted aid was paid out to the companies affected by the corona pandemic,” said Selina Schulze-Spüntrup, researcher at the Ifo Institute. “That also has to do with the fact that some of the eligibility requirements were formulated quite strictly to rule out abuse.” According to the information, the federal government provided 150 billion euros in grant programs. Of this, 24 percent have so far been accessed. For emergency aid from the federal government, 50 billion euros were estimated, according to Ifo, less than a third of it was used.

Bridging aids were also not exhausted

In the case of the subsequent bridging aid, too, the money paid out was well below the budgeted amount: According to economic researchers, it was 6 percent for bridging aid I, around 10 percent for bridging aid II, and a good 28 percent for bridging aid III.

56 percent of the available funds were paid out of the November aid, 33 percent of the December aid. The state-owned KfW Bank has so far pledged 46 billion euros from its special program.

Corona vaccine study Novavax is 90 percent effective

Status: 14.06.2021 2:21 p.m. According to preliminary study data, the corona vaccine from the US pharmaceutical manufacturer Novavax is safe and highly effective – even with virus variants. The product raises great hopes, especially in developing countries. According to the US pharmaceutical company, the Novavax corona vaccine protects well against the virus and its variants. The company said that the vaccine was around 90 percent effective and, according to preliminary data from a study, safe. The vaccine effectiveness study involved nearly 30,000 people in the United States and Mexico. Two-thirds of them received two doses of the vaccine three weeks apart, all others received placebos. A total of 77 people were infected with the coronavirus, 14 of them in the group of those who were vaccinated. Of the participants who received the drug, none developed severe or moderate symptoms, while there were 14 in the comparison group without vaccination.

background 06/14/2021

No cases of blood clots or heart problems

The vaccine was similarly effective against several variants of the coronavirus, including the alpha variant first discovered in the UK, as well as in high-risk groups such as the elderly and people with pre-existing conditions. The side effects were similar to those of other vaccines and mainly concerned pain at the injection site. There have been no reports of blood clots or heart problems, said Novavax boss Stanley Erck. Novavax plans to publish the results in a medical journal where they will be reviewed by independent experts.

Vaccine important for developing countries

The company said that applications for approval would be submitted in the USA and Europe, among others, by the end of September. Until then, a production of 100 million cans per month is possible. Novavax’s vaccine is easy to transport and store, which is why it is expected to play an important role in vaccination campaigns in developing countries. “Many of our first doses will go to low- and middle-income countries, and that was the goal from the start,” said Erck. Novavax’s vaccine works in a similar way to flu vaccines. It is made with laboratory-grown copies of the spike protein that envelops the coronavirus. The immune system reacts to the proteins in the vaccine and is thus prepared when it is actually confronted with the virus. Other vaccines that are widely used today contain the genetic instructions for the body to make its own spike protein.

02.03.2021

Prices rise by five percent Highest US inflation since 2008

Status: 10.06.2021 5:44 p.m.

In the USA, consumer prices have risen as sharply as they did almost 13 years ago – which is felt above all by car buyers. The European Central Bank also expects higher inflation in the euro countries. Is it just a short-term phenomenon or is inflation now making its big comeback? In the USA there is a growing fear of ever higher prices. Some are already pulling Parallels to the 1970s when President Jimmy Carter failed to get a grip on high inflation and job misery. Although the USA is still a long way from the double-digit inflation rates of that time, the price jumps are getting bigger from month to month. After inflation had risen above four percent in April, it has now climbed to 5.0 percent in May. That is the highest rate since August 2008. Experts had only expected an increase in the cost of living of 4.7 percent. “The dreaded five has become a reality,” said market observer Thomas Altmann from investment management company QC Partners.

Federal Reserve under pressure

The strong growth impressively proves that the price surge in April was not a slip-up, said LBBW analyst Dirk Chlench. “The US Federal Reserve is coming under increasing pressure to reconsider its view that the recent price hikes are only of a temporary nature.” As in April, the prices for used cars turned out to be the biggest inflation driver. They rose again strongly – and, according to the US Department of Labor, accounted for around a third of the monthly price increase.

Core inflation at its highest level since 1992

Particularly alarming is core inflation, which excludes volatile components such as energy and food. It climbed 3.8 percent in May. The last time there was such a sharp increase was in 1992. In April, the core inflation rate was 3.0 percent. The end of the corona lockdowns and the trillion dollar cash injections by the US government have been driving inflation in the US for months. Prominent economists like Larry Summers, Olivier Blanchard and Mohamed El-Erian warn against underestimating the danger. According to Blanchard, the high government spending under US President Joe Biden could overheat the economy.

Just a passing trend?

Most economists are still looking at the trend with serenity, however. In their opinion, the development is mainly based on temporary factors. The US service sector is back in normal mode in many places. Prices for air travel and hotel accommodation are picking up again and are well above the previous year’s level, says chief economist Thomas Gitzel from VP Bank. “So there are so-called base effects at work once more.” At the same time, the shortage of semiconductors is now at least indirectly affecting consumer prices. If there are no new cars due to a lack of semiconductors, customers switched to used cars. These would have become significantly more expensive. Gitzel predicts that the price level will slowly drop from a high level in the summer months. The US Federal Reserve (Fed) claims that inflation will only pick up temporarily. Because compared to the previous year, the economic downturn in the Corona year 2020 resulted in high rates of price increase. That is why the central bank has not yet seen itself under pressure.

Little movement on Wall Street

Wall Street barely reacted to the renewed surge in inflation. The Dow Jones rose by 0.6 percent, the S&P 500 even jumped to a record high. The US dollar gained against the euro. So investors do not anticipate a tightening of monetary policy in the US for the time being. In the eurozone, too, the money locks are still strongly open. The European Central Bank (ECB) is sticking to its trillion-dollar anti-corona crisis program (PEPP) and plans to expand bond purchases in the next quarter compared to the first three months of the year. In doing so, the central bank wants to avoid tightening the financing conditions for companies, states and private households.

ECB raises inflation forecast

The rising inflation hardly worries the euro watchdogs . The higher euro will dampen inflation, said ECB President Christine Lagarde. Nonetheless, the ECB raised its inflation forecast. According to the central bank, inflation should be 1.9 percent in 2021. In March, the ECB was still assuming an increase of 1.5 percent. For 2022, the monetary authorities expect an annual price increase of 1.5 percent and for the following year unchanged at 1.4 percent. According to the ECB, inflation that is too high can lead to a price spiral. Higher prices mean consumers get less goods for their money. So they demand higher wages in order to be able to maintain their standard of living. In turn, in order to pay the higher wages, companies continue to raise the prices of their products. On the other hand, permanently low prices are seen as a risk for the economy: companies and consumers could then postpone investments – in the hope that it will soon become even cheaper. In the medium term, the ECB is aiming for an annual inflation rate of just under two percent. In Germany, the inflation rate is already above this level. In May the Consumer prices compared to the same month last year by 2.5 percent , the highest value since September 2011.

Bad cell phone reception Lost in the dead zone

As of: June 8th, 2021 3:59 p.m.

Cell phone reception is still patchy in many rural areas. According to the network agency, more than ten percent of the country’s area is affected. Expansion is often delayed – companies could now face sanctions. The deeper you go into Germany’s rural regions, the worse the cell phone reception. This is the result of a current report by the Federal Network Agency. This is by no means a rare phenomenon. As the report shows, the supply is poor or non-existent on eleven percent of the country’s area. However, complete dead zones are really rare: Cell phone users, regardless of the provider, have no reception at all on just 0.3 percent of the area in Germany – they are “areas that are not provided with any technology”. This proportion is highest in Bavaria and Rhineland-Palatinate with 0.8 percent. In eight of the 16 federal states it is zero.

Annoying “gray spots”

However, 3.8 percent of the country’s area is referred to as so-called “white spots” in the report. In these areas, reception is only possible in the age-old 2G cellular standard. This standard is too slow for modern, complex mobile radio applications such as videos. 7.2 percent of the area are considered “gray spots”. Only one of the three German cellular networks, Telekom, Vodafone or Telefónica Deutschland, can be received there in the 4G standard. Anyone who is a customer of another network is left behind. Gray spots are astonishingly widespread: In Baden-Württemberg the proportion is ten percent, in Hesse and Rhineland-Palatinate it is 9.9 percent. Bavaria is fourth from bottom with 9.2 percent.

Industry points to high costs

In the Internet age, stable cell phone reception across the board is considered crucial for the development of rural areas. The flow of data is also becoming increasingly important for farmers in the fields, forest workers and hikers. The data from the Federal Network Agency show how great the need for expansion is. The telecommunications industry points to the high costs incurred in rural expansion. The network operators are now cooperating with each other to fill the gaps. In addition, there is a new state “mobile radio infrastructure company” that wants to use funding to enable radio locations where economic operation is not worthwhile. In the future, it is also planned to map 5G coverage and the main points of disconnections in voice telephony in a suitable form.

Main traffic routes not fully supplied

The report by the Federal Network Agency also deals with the issue of network supply along the main transport routes. Since the beginning of 2020, there should be 4G reception everywhere on motorways and ICE routes. However, 100 percent coverage has not yet been achieved. In the case of the motorways, the degree of coverage is between 95.4 and 99 percent, depending on the company, and between 94.4 and 98.2 percent for the railways, writes the Federal Network Agency. After all, the supply along the main traffic routes has been improved.

Fines not excluded

The authority refers to a total of around 550 locations where the companies were unable to ensure the required network supply in good time. “The examination has shown that there are cases of actual and / or legal impossibility at around 20 planned locations. The majority of the cases are temporary delays,” it says. The Federal Network Agency is currently examining possible sanctions against the mobile network operators. It is crucial here whether the delays were caused by the mobile network operator – for example due to late planning of the location – or by third parties, for example due to long building permit procedures or late cancellations by landlords. If the network operator is responsible for the delay, there is a risk of fines.

Illustrated photo TL Generali Group’s Deputy Chief Financial Officer, Mr. Cristiano Borean, commented: “Generali Group ended the first quarter of 2021 with excellent results, in line with the set targets and affirming the effectiveness of the strategy. Generali 2021′”. “The Group continues to be one of the market’s leading insurers, with a strong financial position. We are in the process of rebalancing our life insurance product portfolio and thus have been able to maintain positive profitability in the context of low interest rates. Generali also continues to achieve the best and most consistent mix ratios in the market, as well as impressive results in asset management and other businesses. The strong growth in operating profit and net profit also shows that the group continues to operate effectively in the context of the macro economy still facing many uncertainties caused by the pandemic.” – Mr. Cristiano Borean shared. Specifically, as of March 31, 2021, Generali’s operating profit reached 1.6 billion euros (up 11%), thanks to the profit growth of non-life insurance, asset management and other business activities. At the same time, the life insurance segment achieved a stable profit compared to the same period last year. Gross premium revenue reached 19.7 billion euros (+4.2%), of which life insurance increased by 5.5% and non-life increased by 1.9%. Net cash flow from life insurance business amounted to €3 billion (up 1%), focused on unit-linked and protection products. The combined ratio hit 88% (down 1.4 percentage points) and the return on new mining revenue also recorded impressive results, leading the market at 4.44% (up 0.4 points). percent). Net profit of up to 802 million euros (compared to 113 million euros in the same period last year) – the first quarter of 2020 was significantly affected by the decline in investment assets and funding costs for the Special International Fund Covid-19. Strong financial position, with a solvency margin of 234%, thanks to an effective capital optimization strategy and positive market situation in the first quarter of 2021.

Poland’s high inflation With price jumps from the pandemic

Status: 08.06.2021 8:12 a.m.

The Polish inflation rate is well above the German rate – now more than five percent. In many ways, this is a consequence of the pandemic, experts say. But when will the central bank react? From Martin Adam, ARD studio Warsaw The pandemic is not over yet when another topic is pushing the front pages of Polish newspapers. “Why so expensive?” Asks the “Gazeta Wyborcza”. The “Rzeczpospolita” replies: “We pay for growth with inflation.” In fact, what is happening in Poland is what financial experts in Germany are warning of: the inflation rate is rising – currently to a ten-year high of well over five percent, according to the standardized European calculation. That is one of the highest values ​​in the European Union. For comparison: In Germany, the inflation rate was 2.5 percent in May .

Devaluation clearly noticeable

The devaluation of the Polish zloty is clearly noticeable, explains financial market expert Pawel Majtkowski. “Compared to last year, wages have risen by ten percent, but the prices of fruit and vegetables by 20 percent. So we are already feeling the price increases,” he says. “In addition, there are higher production costs, transport costs and the costs of higher wages.” All of this is reflected in prices. Inflation is most evident in the case of fuels. According to the national statistics office, gasoline and diesel for private cars have become more than 30 percent more expensive within a month.

“Polish economy is doing well”

But don’t panic, it’s all normal and a consequence of the corona pandemic, explains economic advisor Lidia Adamska. “Inflation in Poland reflects processes that we see in the post-Covid landscape around the world. But the Polish economy is doing well,” she says. “The gross domestic product is growing, the employment and unemployment figures are also optimistic.” There are various factors that are currently weighing on the Polish currency, only some actually have to do with the corona pandemic: The low interest rates, which are supposed to stabilize the economy, make money cheap. It is available in large quantities, which always carries the risk of being devalued. After the rapid slump last year, crude oil prices are also picking up again, making gasoline and diesel more expensive. In addition, there are higher food prices because Polish agriculture has not recovered from the past two years of drought. A bad harvest means high prices. With restaurants and hotels that are slowly reopening in Poland, demand is also increasing.

Raising the minimum wage is having an effect

The political decision at the beginning of the year to increase the gross minimum wage to 18.30 zloty per hour, the equivalent of around 4.10 euros, also has an impact. This is supposed to distribute the Polish economic boom more fairly. However, the service industry in particular, which has been shaken by the corona lockdown, is passing the higher wage costs through to customers. The bottom line is that everything will be expensive. But it will certainly be countered soon, suspects the economics expert Ignacy Morawski. “In a sense, inflation is the price of low unemployment,” he says. “I suspect the central bank will soon raise interest rates to control inflation.” When exactly this will happen and how far inflation will rise, hardly anyone in Poland has yet wanted to make a forecast.

According to the General Statistics Office (Ministry of Planning and Investment), the COVID-19 epidemic in 2020 and the first months of 2021 has pushed many workers into jobless status, at the same time forcing many people to become workers. have informal jobs.

In the first quarter of 2021, employed workers in urban areas increased by 114,300 people compared to the fourth quarter of 2020; down 90,200 people over the same period last year. In rural areas, the number of employed people increased by 508,900 compared to the fourth quarter of 2020 and decreased by 854,300 people over the same period last year. The proportion of labor force in the agriculture, forestry and fishery sector is 31.6% (corresponding to more than 17.05 million people); 31.7% of industry and construction sector (corresponding to 17.09 million people); 36.7% service sector (corresponding to 19.81 million people). Up to now, the number of employees aged 15 and over who are working is 53.4 million people, down 1.3 million; in which, the number of workers with informal jobs is 20.9 million, an increase of 233,000 people compared to the fourth quarter of 2020.

Workers working in production lines at factories were negatively affected by the COVID-19 outbreak. Photo: VNA.

Statistics show that the epidemic has caused the rate of workers with informal jobs to rise sharply in the first quarter of 2021, in contrast to the trend of decreasing this rate in recent years; businesses are forced to support with many measures, including measures to reduce labor (cut, take turns, etc.), to recruit seasonal workers, temporary workers to maintain operations. This leads to a decrease in the number of formal employees and an increase in the number of informal workers, leading to a rebound in the proportion of workers with informal employment after many years of continuous decline.

The COVID-19 epidemic also significantly increases the number of underemployed workers in economic sectors. The underemployment rate of workers in the age group is 2.51%, of which the underemployment rate in urban areas is 1.68%; Underemployment rate in rural areas is 2.93%. More than half of the underemployed people are currently working in agriculture, forestry and fisheries, accounting for 53.7%, down 15.6 percentage points over the same period last year; the industry and construction sector accounted for 20.2%, up 10.7 percentage points; the service sector accounted for 26.1%, up 4.9 percentage points. Thus, the current underemployment is not only concentrated in agriculture, forestry and fisheries, but is increasing in industry, construction and services.

For workers in the age group, the professional and technical qualifications are higher, the underemployment rate will be lower. The underemployment rate in the age group 2020 of workers without professional and technical qualifications is 2.87%; primary level is 2.25%; intermediate level is 1.58%; college is 1.52%; from university and above is 1.04%. Average monthly income of employees increased compared to the previous quarter, but still decreased compared to the same period last year. Average monthly income from employees’ work in the first quarter of 2021 reached 5.7 million dong, up 212,000 dong. VND compared with the previous quarter and decreased 108,000 VND against the same period last year.

Worryingly, the number of unemployed people in working age quarter I / 2021 was nearly 1.2 million, down 60,100 from the previous quarter and 136,800 people over the same period last year. The COVID-19 pandemic has made the unemployment rate of working age urban areas the highest increase compared to the same period in the past 10 years.

Although it increased higher than the previous year, the unemployment rate in urban areas did not exceed 4%, meeting the target set by the National Assembly in Resolution No. 85/2019 / QH-14 on the Development Plan. Socio-economic development in 2021. This, together with the GDP growth and other macro-balance indicators, can be seen as important evidence of the success of the Government in its efforts to achieve the dual goal. : disease prevention and socio-economic development.

Remove 3 “bottlenecks”

Leaders of the General Statistics Office said that, in the context of COVID-19 increasing the rate of unemployed workers, it is necessary to focus on removing 3 “bottlenecks” to actively respond and adapt to new developments. epidemic situation, both controlling the epidemic and promoting production and business.

Specifically, the ministries, branches and localities need to create conditions to continue solving difficulties for production enterprises. In which, focusing on reforming processes and procedures so that businesses can access simple, convenient and timely supporting policies to stimulate the economy as well as the demand for labor. These measures not only help businesses and employees escape the risk of bankruptcy, job loss and income reduction, but also create a driving force for production and business development.

On the other hand, localities actively implement specific support packages, diversify forms of subsidies, expand vocational training programs to suit many subjects, especially female workers and workers. Labor without technical and professional qualifications, informal labor to stabilize social security, motivate workers to work, contribute to economic recovery and development.

The most important bottleneck now, according to the leaders of the General Statistics Office, is to focus on retraining human resources, because the Vietnamese labor market has about 75% of the employees without any technical or professional training. This is a major limitation of the Vietnamese economy in the context of the epidemic still having new developments and the 4th industrial revolution taking place around the world. The low quality of the labor force will be a barrier separating opportunities to adapt and catch up with new technology trends and new business methods of the world. Therefore, in the coming time, Vietnam needs to actively renew and implement training and retraining policies to improve the quality of human resources to adapt to the requirements of economic growth and development.