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Amgen's experimental obesity drug, MariTide, demonstrated an average weight loss of up to 20% after one year in a mid-stage trial, with no observed plateau. The trial also explored various dosing regimens, including less frequent injections, as the company aims to compete in the growing obesity drug market. Despite promising results, Amgen's shares fell as the outcomes were at the lower end of expectations.
The Biden administration is proposing a rule to require government coverage for weight-loss drugs, potentially benefiting 3.4 million older Americans on Medicare and an additional four million in Medicaid. This move could significantly increase healthcare costs while expanding access to obesity treatments.
Denmark's plan to tax agricultural emissions is expected to increase impairment charges for some medium-sized banks, as farmers face additional financial strain. However, the central bank reassures that this situation will not jeopardize overall financial stability in the country.
Average slaughter cattle prices in the EU rose again, with young bulls in trade category R3 reaching €549.03/100 kg BW, a 1.0% increase from the previous week. Spain and Poland saw notable gains of 2.7% and 1.7%, while Italy experienced volatility with an 8.1% drop.Cows for slaughter in trade category O3 averaged €438.19/100 kg BW, up 0.2%, with Italy leading the increase at 2.0%. Heifer prices also climbed, averaging €547.36/100 kg BW, a 1.0% rise, driven by strong demand in Spain and Poland.
UBS has faced scrutiny over its historical ties to slavery, with researchers revealing multiple connections to the slave trade through its predecessor institutions. Despite calls for an independent investigation, UBS has dismissed these findings, claiming a lack of evidence while keeping many archives closed to public access. The legacy of Swiss financial institutions in the transatlantic slave trade remains largely unexamined, highlighting a reluctance to confront this dark chapter of history.
A €103 million funding package has been secured for a 237.6 MW solar plant in southeastern Bulgaria, marking the first renewable energy project over 100 MW to operate without a support scheme. The investment, led by the EBRD and Raiffeisen Bank International, will enable the plant to generate over 300 GWh of electricity annually. Plans are also in place to add 250 MW of energy storage on site, contributing to Bulgaria's goal of achieving 34.7% renewable energy in its electricity consumption by 2030.
Cyber attacks linked to Russian hackers are identified as the primary threat to financial stability in the Nordic region, according to Ulrik Nodgaard, deputy governor of the Danish central bank. He emphasized the need for financial institutions to brace for an ongoing "arms race" against cybercriminals, as major banks like Nordea have faced daily disruptions to their websites for weeks.
At COP29, Uganda's Energy Minister rejected calls to phase out fossil fuels, emphasizing the need for resource exploitation. Meanwhile, European leaders expressed concern over the absence of fossil fuel commitments in the draft agreement, with a focus on cutting emissions and implementing energy goals from last year's Dubai agreement. The talks face pressure to reach a compromise, as failure would be deemed historically shameful.
Texas is attracting renewable energy developers despite political obstacles, with a notable 208-megawatt solar project linked to Massachusetts' Consortium for Climate Solutions. This initiative allows nonprofits to aggregate purchasing power for favorable rates, while also generating significant tax revenue for local communities. Additionally, the project includes a virtual power purchase agreement, enabling participants to support renewable energy without direct electricity access, further promoting collaboration among various organizations.
Nvidia is set to report its fiscal third-quarter earnings, with Wall Street anticipating revenue of $33.16 billion and adjusted earnings per share of 75 cents. Investors are keen to hear CEO Jensen Huang's insights on the demand for the new Blackwell AI chip, which is crucial for future growth, especially amid reports of overheating issues. Despite a 122% sales growth last quarter, this marks a slowdown from previous quarters, raising questions about the sustainability of Nvidia's rapid expansion.
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