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Hollywood is starting to turn on Biden 2024-07-10 21:33:40+00:00 - Weeks after George Clooney co-hosted a $28 million fundraiser for Biden, he wants him to drop out. Biden's Hollywood support has begun to wane as Clooney and other moguls publicly express doubts. Despite Biden's backing from the party, some top donors and media giants want a new candidate. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Less than a month ago, some of Hollywood's A-list attended a fundraiser for President Joe Biden's reelection campaign, co-hosted by George Clooney, Julia Roberts, and Barbra Streisand. They raised $28 million. But in an essay published by The New York Times on Wednesday, Clooney is now calling for the president to drop out of the race. Biden has claimed that calls for him to step aside following his disastrous debate in June are coming from the party's elite instead of everyday Americans, but he has long relied on Hollywood for support — the star-studded event last month was the most lucrative Democratic Party fundraiser to date. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

MrBeast is prepping us for his presidential run in 2036 2024-07-10 21:33:02+00:00 - YouTube star MrBeast jokes about running for president. MrBeast says he'd abandon political parties and take a centrist approach to America's problems. His viral post highlights just how much young people are disappointed with the current political leaders. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Things have gotten so bad in the 2024 US election cycle that American YouTube celebrity MrBeast is now joking about running for president himself. Jimmy Donaldson — whose YouTube account showing elaborate games and stunts is the most popular in the world and racks up tens of millions of views — suggested running for office last week. "If we lower the age to run for president I'll jump in the race," he wrote on X.

Nintendo Switch Sees Biggest Drop As All Consoles Face Double-Digit Declines - Microsoft (NASDAQ:MSFT), Nintendo Co (OTC:NTDOY) 2024-07-10 21:28:00+00:00 - Loading... Loading... The U.S. video game market has seen a significant drop in hardware spending, with a 40% decline compared to 2023, according to Circana’s May 2024 highlights. This trend reflects double-digit percentage decreases for all major console manufacturers—Microsoft Corp. MSFT, Nintendo ADR NTDOY, and Sony Group Corp. SONY. Notably, the Nintendo Switch has experienced the steepest decline in sales. See Also: Nintendo’s President Says AI Can Be ‘Creative,’ But Raises Intellectual Property Concerns Impact Of Major Game Releases Circana’s Executive Director and Video Game Industry Advisor, Mat Piscatella, noted on X/Twitter that this hardware spending slump can be “partially” attributed to the release of The Legend of Zelda: Tears of the Kingdom. The game was launched exclusively for the Nintendo Switch on May 12, 2023, and spurred a temporary spike in console sales last year. Rumors Of New Hardware On The Horizon Amid these declines, speculation is rife about upcoming hardware from the big three console makers. Microsoft has already announced updated versions of the Xbox Series X and S. Sony is rumored to be planning a Pro variant of the PS5 later this year. Meanwhile, Nintendo is expected to release a next-generation successor to the Switch in 2025. These anticipated releases may be causing consumers to hold off on purchasing current models. Top-Selling Games In May 2024 Despite the hardware slump, game sales remain robust. Circana reports that the top-selling games in terms of dollar sales for May 2024 were Ghost of Tsushima, Paper Mario: The Thousand-Year Door Remake, and Call of Duty: Modern Warfare 3 (2023). Ghost of Tsushima saw a dramatic rise in its sales performance, jumping from 71st to first place following its PC port release on May 16. This surge highlights the growing importance of multi-platform releases in driving game sales. Upcoming Exclusives For The Holiday Season Looking ahead, all three console holders are gearing up for the holiday season with exclusive titles. Xbox is set to release Indiana Jones and the Great Circle, while the PS5 will feature Astro Bot as its marquee title. The Switch aims to finish 2024 strong with The Legend of Zelda: Echoes of Wisdom. Read Next: Photo by Sara Kurfeß on Unsplash

'Apocalyptic' Manhattan Real Estate Deals Keep Coming — Sector Mayhem Or Investment Opportunity? - BlackRock (NYSE:BLK), ING Groep (NYSE:ING) 2024-07-10 21:27:00+00:00 - Loading... Loading... Fed Chair Jerome Powell said Tuesday the commercial real estate sector will remain under stress for some time. "It is a risk that has been with us and will be with us for some time, probably for years," Powell told the Senate Banking Committee. "And banks need to be honestly assessing what their risk is." Many real estate assets purchased before the Covid-19 pandemic with loans from banks and other financial institutions are now worth less than the loans. See Also: Doom And Gloom In Office Space Real Estate? Delinquency Data Tells Another Story As a result, many commercial real estate owners are selling their properties in distress, bringing about a new era of opportunity for real estate investors. Take the Continental Center in New York City, for example. The 41-story skyscraper, located at 180 Maiden Lane in Manhattan's Financial District, sold to 99c, a real estate firm owned by Canadian biotech investor Carlo Bellini, for just $297 million. The same building was purchased in 2015 for $470 million. Clarion Partners and MHP took out a $248 million loan from BlackRock Inc BLK and refinanced the debt in 2020 with a $372 million loan led by ING Groep NV ING. Clarion and MHP reportedly invested $175 million in renovations, putting their entire investment north of $645 million. They reportedly sold the property quickly to avoid foreclosure. Clarion didn't reply to a request for comments. "Manhattan’s office meltdown has gone from concerning to apocalyptic with little end in sight…" Triple Net Investor, an influencer, wrote on X. For office buildings, the average sale prices per square foot dropped 66% between June 2023 and late May. The Continental Center, built in 1983, is currently only occupied at 68%, dropping from 71% in January. This is almost three times the average vacancy rate for commercial real estate in New York City, which in March was 12.8% according to the comptroller's office. Read Also: Mortgage Applications Fall As Rates Climb Back Above 7% Why Is Commercial Real Estate Such A Mess? "The seismic, pandemic-driven shift toward remote work has substantially pushed down demand for office space, approximately doubling the vacancy rate," writes a comptroller report. New York's commercial real estate vacancy rate was a mere 6.4% in early 2020 — before the pandemic unfolded. Pandemic disruptions were followed by decades-high interest rates which had a slashing effect on REITs. The trend isn’t exclusive to New York. Earlier this year, the U.S. vacancy rate for commercial real estate reached its highest levels since 1979, at about 20%. By May, the rate had dropped to 17.8% as per a CommercialEdge report. A recent report by real estate firm Colliers found last month that there was a 70% pick-up in leasing activity in New York City as compared to last year. While this metric brings optimism for real estate investors, CommercialEdge argues that the remote and hybrid work trends are here to stay, and vacancies will likely remain flat across the country. ETFs following the real estate sector haven’t performed well as of late. Vanguard Real Estate Index Fund ETF VNQ, the biggest one by assets under management, was up 0.2% on Wednesday, having lost 3.8% in the past six months. Schwab US REIT ETF SCHH shows a similar trajectory, up 0.3% on Wednesday at the time of this writing and down 2.7% since in the past six months. Residential real estate continues to struggle from high interest rates, with the affordability of buying a home reaching its lowest level in 17 years last week. Now Read: Manhattan Skyline, including the Continental Center on the left, by Szilas on Wikimedia Commons.

The US says it is going to put its new long-range strike missiles, including hypersonic weapons, in Germany 2024-07-10 21:21:22+00:00 - The US announced deployments of new long-range fires weapons to Germany will start in 2026. The capabilities will include the SM-6, Tomahawk, and developmental hypersonic weapons. The war in Ukraine has shown a need for more deep-strike options. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement The US just announced plans to put new long-range weapons in a European ally by 2026. The planned deployment of new weapons systems to Germany follows the collapse of the INF Treaty and comes as NATO learns key lessons from the war in Ukraine, one being the value of ground-launched long-range strike options. The US and Germany released a statement on Wednesday on the coming "episodic deployments of the long-range fires capabilities of its Multi-Domain Task Force in Germany in 2026, as part of planning for enduring stationing of these capabilities in the future." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

A brain expert explains the cognitive test used to assess a president's mental fitness. It's not easy. 2024-07-10 21:19:58+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Most Americans think 81-year-old President Biden is just too old to be president. There are also concerns about 78-year-old Republican nominee Donald Trump's fitness for office — registered voters are split on whether he still has the cognitive skills for this job. But brain aging experts say the candidates' chronological ages are, to some extent, a red herring. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "There's this widespread belief that older people lose it, but it's really less to do with chronological age per se, and more to do with all the crappy things that your age puts you at greater risk for," neuropsychologist Joel Kramer, the director of the Memory and Aging Center Neuropsychology program at the University of California, San Francisco, told Business Insider. Advertisement "It's really no different than your knees. Just because you're older doesn't mean you're going to have bad knees, but there are a lot of older people with bad knees." There are some quick assessments that only take doctors a couple of minutes to administer in the clinic, giving them a general sense of how you're doing. You might've heard of a few of these in recent political coverage. The Mini-Cog test requires you to repeat and then remember a few spoken words, and draw a clock correctly with a specific time of day on it, testing not only basic memory skills but also visual spatial control and other key brain functions. requires you to repeat and then remember a few spoken words, and draw a clock correctly with a specific time of day on it, testing not only basic memory skills but also visual spatial control and other key brain functions. MoCA : The Montreal Cognitive Assessment (Trump took it six years ago when he was President.) Like the Mini-Cog, there is some clock drawing, repeating and recalling, as well as naming simple pictured objects like a lion and a camel. The Montreal Cognitive Assessment (Trump took it six years ago when he was President.) Like the Mini-Cog, there is some clock drawing, repeating and recalling, as well as naming simple pictured objects like a lion and a camel. SAGE: A self-administered home test designed by The Ohio State University. These aren't perfect tools, though, and aren't really what a doctor would use to determine whether someone is mentally fit enough to hold a high-powered job. These tests are rudimentary, and people with dementia can pass them, especially if they are still in the early stages of a disease — all of us are good at masking subtle memory issues, Kramer said. ("When was the last time you ran into someone whose name you couldn't quite come up with, and you faked it for a while?") Advertisement Kramer says a full clinical assessment checking for neurodegenerative issues usually takes about an hour, or longer. He gave me a taste of how clinicians suss out a person's ability to learn and retrieve new information, multitask, and perform age-appropriate motor skills. A true cognitive evaluation should be challenging Dusan Stankovic/Getty Images "I'm going to read a list of words to you," Kramer said. "Listen carefully, and when I'm through, say back as many of them as you can: hat, berries, wrench, sweater, lemon, pliers, belt, peaches, drill." This exercise can be adjusted based on a person's age and ability. (Kramer said if we were really doing this, he'd give me a much longer list.) Advertisement Later on in the session, the clinician might ask you to recall, "Hey, what was on that list again?" It's a test you can't really cheat on, since the words aren't written down anywhere, and can easily change from session to session. I found the multitasking part of his assessment more challenging: "I'm going to say some numbers, when I'm through, say them to me backward: 4, 9, 2, 6, 3." Related stories I know it looks easy written down here, but remember, he's just saying this out loud. You have to keep the list straight in your head, while also repeating it from back to front. I did pretty terribly: Advertisement "3, 6, 4 …" Whoops. Multitasking gets a bad rap — we've all heard it's bad for focus and, in some ways, biologically impossible. But the more complicated truth is we are actually doing certain forms of multitasking all the time, and some of them are telltale signs of a healthy, well-functioning brain (walking and talking, for example). The particular kind of multitasking being tested here is a critical skill for a good leader. You need to be someone who's capable of operating well in high-pressure situations, filtering out irrelevant information, taking in new data while responding to it instantaneously. Another multitasking test brain experts use involves being given a page of jumbled numbers and letters, and having to ping-pong back and forth between finding them on paper and saying them out loud, matching "A" to "one," then "B" to "two," et cetera. Advertisement "You have to keep track of where you are and what you're supposed to be doing," Kramer said. "I mean, it's not rocket science, but when it's part of a multidisciplinary evaluation, those are the things that are really more than a scan, more than a neurological workup, can be sensitive to the early changes associated with a lot of these syndromes." And the fifth letter of the alphabet is? Andrii Zorii/Getty Images More straightforward chores patients might be asked to perform in the assessment include drawing something from memory (like a clock), or being shown a picture of a common object, and then naming that item out loud. Watching the patient in real time, and assessing things like their motor skills, language ability, and eye movements is also key to making a final diagnosis. Often, by the time a family member brings someone in, the news isn't good, Kramer said. "After our evaluation, we sit down and we say, 'You know, here's some of the skills you need to perform well at your job, and based on our evaluation, you ain't got it, and it's time to hang it up.'" Advertisement A full neuro workup requires more than just memory tests MRIs can identify tiny, asymptomatic strokes someone might've had. simonkr/Getty Images There's also: Detailed interviews with family members A review of any other medications the person is taking and preexisting conditions that may make their brain more vulnerable (some drugs can put you at increased risk for dementia.) "A lot of times you just change their medicines a little bit, and they do better," Kramer said. In general, a focus on ruling out any other non-neurological reason someone might be having some memory issues, like depression, or a deficiency of some kind. Diagnostics vary, but can include: MRI scans to screen for cerebrovascular disease (sometimes caused by tiny, asymptomatic strokes) A spinal tap or skin biopsy, looking for proteins that may lead to Parkinson's A new and pricey FDA-approved blood test, scanning for key proteins that put you at risk of developing Alzheimer's Full blood work, to rule out some other reasons someone might be having some memory issues, like low thyroid or low B12. (Those can be remedied with diet, hormones, or supplements.) Advertisement President Biden's latest publicly-available health summary from the White House, released in February of this year, said that Biden recently underwent "an extremely detailed neurologic exam" which was "again reassuring in that there were no findings which would be consistent with any cerebellar or other central neurological disorder." The report also applauded his fine motor skills. The argument against releasing Biden's cognitive test results Journalists, including Stephanopoulos and Dr. Sanjay Gupta, have asked President Biden to undergo new and detailed cognitive testing, and release his results to the public. Given his dismal debate performance, people want to know whether this commander in chief would pass or fail if he took a cognitive exam screening for dementia right now. "They said I'm good," Biden told George Stephanopoulos on Friday. "I have a cognitive test every single day," he added, alluding to the requirements of his job. Trump continues to boast that he "aced" the basic cognitive tests he took over four years ago, when he was president. But he also has not agreed to a public result reveal. Advertisement But experts say these tests are not the best way to assess mental fitness for this job. A lot of things are important to job performance that have nothing to do with your memory. These cognitive tests only rule out disease. What would a passing result really tell us? And would a failing result guarantee Biden drops out? Doctors themselves have resisted mandatory cognitive tests for older physicians — in part because it's ageist, but also because memory tests don't tell you whether someone is good at their job. "When you're trying to decide who you want to serve in a particular position, i.e. the presidency, what are the characteristics that are really important?" Kramer said. "Is it memory, or is it empathy, or is it problem-solving, or is it a value system that you can relate to, the ability to work with people?"

Founder of collapsed hedge fund Archegos Capital is convicted of securities fraud scheme 2024-07-10 21:01:44+00:00 - NEW YORK (AP) — The founder of Archegos Capital Management, a hedge fund that collapsed in 2021, was convicted Wednesday of securities fraud in a scheme that prosecutors said cost global investment banks billions of dollars. Bill Hwang looked straight ahead as the verdict was read, taking several sips of water as the jury found him guilty of 10 criminal counts. He was acquitted of one charge of market manipulation. Federal prosecutors in New York said Hwang and his co-conspirators artificially inflated the values of nearly a dozen stocks before the investments collapsed, wiping out $100 billion in market value along with the company he created. Hwang’s lawyer had argued that his client was an honest investor who put money into stocks he believed in. Prosecutors said Hwang lied to banks to get billions of dollars to grow his investment firm, which was based in New York. Its portfolio grew from $10 billion to $160 billion. Assistant U.S. Attorney Alexandra Rothman told jurors at the start of the case that Hwang, who was a billionaire, “wanted to be a legend on Wall Street” and engaged in a scheme involving trades of stock derivatives to secretly build extraordinarily large positions in just a few companies. Hwang’s attorney, Barry Berke, said he “didn’t live the life of a billionaire” and didn’t make any misrepresentations to any banks about his business. The indictment said the investment public did not know Archegos had come to dominate the trading and stock ownership of multiple companies because it used securities that had no public disclosure requirement. At one point Hwang and his firm secretly controlled over 50 percent of the shares of ViacomCBS, prosecutors said. The risky maneuvers, however, made the firm’s portfolio vulnerable to price fluctuations in a handful of stocks. The jury also convicted the company’s former financial officer, Patrick Halligan.

Charter Communications Partners With TelevisaUnivision - Charter Communications (NASDAQ:CHTR), Walt Disney (NYSE:DIS) 2024-07-10 20:58:00+00:00 - Loading... Loading... Charter Communications CHTR has partnered with TelevisaUnivision to bring the premium ad-supported subscription version of ViX to Spectrum users with Spectrum TV Select or Mi Plan Latino packages at no additional cost. Spectrum currently serves more than 32 million customers in 41 states. This partnership will enable more people to use Spectrum, as its users will gain access to 17,000 hours of streaming content, which includes movies, original series and live sports like the semifinals and finals of CONMEBOL Copa América and UEFA Euro 2024 with limited ads. Additionally, the full library of on-demand content in various genres is also available. ViX's ad-supported premium tier includes original content slate, such as the latest series Lalola, El Extraño Retorno de Diana Salazar, El Gallo de Oro and De Viaje con los Derbez. It also includes movies like Es por su bien, ¿Quieres ser mi hijo? and Radical. Highly anticipated upcoming releases include Chiquis Sin Filtro and Y Llegaron de Noche. ViX also provides access to the best soccer content throughout the year, including Liga MX, the best soccer league in the United States, and UEFA Champions League, the most-watched club competition in the world. Year-to-date Performance Image Source: Zacks Investment Research CHTR's Strong Partner Base to Aid Long-Term Prospects Charter Communications has a strong partner base that includes the like of Magnite MGNI, Paramount Global PARA and Disney DIS, besides the recent collaboration with TelevisaUnivision. This strong partner base is expected to aid the company's long-term prospects. Charter Communications recently expanded its partnership with Magnite to enhance the programmatic ad-buying access across Spectrum's library of premium linear and streaming television industry. Spectrum will enhance the use of MGNI's technology to allow advertisers to bid on individual impression opportunities in real time and centralize management capabilities across platforms. CHTR has also extended its partnership with Paramount Global with a multi-year distribution agreement for PARA's portfolio of linear cable networks, CBS-owned-and-operated broadcast stations and direct-to-consumer streaming services. Later this year, Paramount+ Essential and BET+ Essential will also be made available to Spectrum users. The partnership will boost Charter Communications' library and increase value for customers. The company also collaborated with Disney's ESPN to make it available to Spectrum TV Select Plus customers. ESPN+, which currently costs $10.99 per month, is available at no additional cost to Spectrum users. ESPN+, which includes more than 30,000 live events each year, is expected to attract more users to CHTR's platform. Conclusion Charter Communications' strong partner base is a major positive. However, shares of this Zacks Rank #3 (Hold) company have plunged 24.4% in the year-to-date period compared with the Zacks Consumer Discretionary sector's decline of 3%. The decline is attributed to persistent video-subscriber attrition, primarily due to cord-cutting. Residential video customers decreased 392K in the first quarter of 2024. As of Mar 31, 2024, Charter Communications had 13.1 million residential video customers. The Zacks Consensus Estimate for CHTR's second-quarter 2024 earnings per share is pegged at $7.93, which has decreased 5 cents in the past 30 days. The consensus mark for 2025 earnings is pegged at $32.79 per share, which has decreased 26 cents in the past 30 days. To read this article on Zacks.com click here.

Government fines Citigroup $136 million for failing to fix longstanding internal control issues 2024-07-10 20:57:01+00:00 - NEW YORK (AP) — A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues. It’s a major blow to Jane Fraser, the bank’s CEO, who has staked her career on making Citi leaner and less complex. The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank’s risk and control issues. While the regulators said the bank had made progress, there were still significant problems at the bank that required the OCC and Fed to assess additional penalties. “Citibank must see through its transformation and fully address in a timely manner its longstanding deficiencies,” said Acting Comptroller of the Currency Michael J. Hsu, in a statement. The $135.6 million fine is on top of the $400 million fine that Citi paid back in 2020 when the original consent order was signed. Citi will pay $61 million to the Fed and $75 million to the OCC as part of this round of penalties. In a statement, Fraser acknowledged the bank hasn’t made progress quickly enough and that it is possible for Citi make itself less risky. “We’ve always said that progress wouldn’t be linear, and we have no doubt that we will be successful in getting our firm where it needs to be in terms of our transformation,” she said. Citigroup was the go-to example of “too big to fail” after the 2008 financial crisis. Its near collapse and government rescue required Citi executives to slim down its massive balance sheet, sell off businesses it no longer needed and exit financial markets that it couldn’t have a dominant position in. Citi ballooned in size and complexity in the 1990s and early 2000s through a series of acquisitions and mergers in an effort at the time to make Citigroup a financial conglomerate that catered to every customer. But many of those acquired businesses had software and internal controls that do not cooperate with other parts of Citigroup. So while Citi is less complicated than it was in 2008, it’s still a bank that regulators harbor serious concerns about to this day because the lack of internal communication could lead to problems. Banking regulators rejected Citi’s “living will” in June. That document was supposed to show how Citigroup could be wound down safely and orderly in case of failure. Fraser staked her tenure as CEO on fixing the bank’s internal controls, saying the effort would require thousands of employees, billions of dollars and several years of work. Some of her efforts to slim down Citi have been successful, like selling parts of Citi’s consumer banking business, most notably the planned spin off of Citi’s Banamex operations in Mexico. But investors still price Citigroup shares at a discount to its Wall Street peers including JPMorgan, Goldman Sachs and Morgan Stanley due in part to the ongoing costs that Citi faces in fixing its internal control problems.

UniQure Soars on New Huntington's Disease Study Data - Annovis Bio (NYSE:ANVS), ALX Oncology Holdings (NASDAQ:ALXO) 2024-07-10 20:57:00+00:00 - Loading... Loading... uniQure N.V. QURE surged 76.5% on Jul 9 after it announced updated interim data, including up to 24 months of follow-up data, from 29 treated patients enrolled in the ongoing early to mid-stage studies of AMT-130 for Huntington's disease in the United States and EU. Results demonstrated a potential long-term, durable clinical benefit and reduction of a key marker of neurodegeneration upon treatment with the candidate. AMT-130, a one-time administered investigational gene therapy, is being developed to treat Huntington's disease. Huntington's disease is a genetic disorder that causes the progressive breakdown of nerve cells in the brain, which leads to a decline in cognitive and physical abilities, often resulting in movement, thinking and psychiatric problems. uniQure is simultaneously conducting two phase I/II studies of AMT-130, with 26 participants in the United States and 13 in the EU/UK to treat Huntington's disease. Among these, a total of 29 patients received either a low dose (12 patients) or a high dose (17 patients) of AMT-130, while 10 control patients underwent imitation surgery. As of Mar 31, 2024, follow-up data at 24 months were available for 21 patients, including 12 from the low-dose group and nine from the high-dose group. Please note that uniQure, for the first time, performed a statistical analysis of clinical outcomes at 24 months for the 21 treated patients. This analysis, compared with an expanded, propensity-weighted external control group of 154 patients, developed in collaboration with the Cure Huntington's Disease Initiative. The control data was derived from the TRACK-HD, TRACK-ON and PREDICT-HD natural history studies. Year to date, shares of QURE have lost 1.5% compared with the industry's 6.3% decline. Image Source: Zacks Investment Research Per the data readout from the phase I/II Huntington's disease studies, patients treated with the high dose of AMT-130 experienced a statistically significant, dose-dependent slowing in disease progression of 80%, as measured by cUHDRS after 24 months. For the low-dose group, a 30% slowing of disease progression, as measured by cUHDRS, was observed compared with the control group at month 24. Please note that the cUHDRS has been demonstrated to be the most sensitive measurement of clinical progression in Huntington's disease patients. Patients receiving the high dose of AMT-130 also showed near-baseline stability in motor and cognitive function throughout the 24 months of follow-up. Additionally, a statistically significant reduction of Neurofilament light chain (NfL) protein in cerebrospinal fluid (CSF) was observed in patients treated with AMT-130. These patients had a mean reduction in CSF NfL of 11% compared with baseline at 24 months. Treatment with both dose strengths of AMT-130 resulted in mean CSF NfL levels below baseline at 24 months. CSF NfL is an important biomarker of neurodegeneration and strongly associated with the clinical severity of Huntington's disease. An independent natural history study showed a 26% increase in CSF NfL at 24 months in patients with early manifest Huntington's disease. Per the updated data, AMT-130 continues to be generally well-tolerated with a safety profile that is manageable at both doses. No new drug-related serious adverse events were reported. We remind the investors that uniQure enjoys the FDA's Regenerative Medicine Advanced Therapy (RMAT) designation for AMT-130 to treat Huntington's disease. The company is currently gearing up to hold an RMAT meeting with the FDA in the second half of 2024 to discuss these updated positive data seeking potential expedited clinical development pathways and accelerated approval for AMT-130. In the second half of 2024, the company expects to complete enrolling patients in the third cohort of the U.S. phase I/II study exploring AMT-130 in combination with immunosuppression. Safety data from this cohort is anticipated in the first half of 2025. Additionally, uniQure also shared its plan to present another interim analysis from the ongoing phase I/II studies of AMT-130 to treat Huntington's disease in mid-2025. The data from this interim analysis will include a 36-month comparison of treated patients to the propensity score-weighted external control. Apart from AMT-130, uniQure's wholly-owned clinical pipeline comprises several other candidates that are currently undergoing early-stage development for the treatment of patients with refractory temporal lobe epilepsy, amyotrophic lateral sclerosis and Fabry disease. Please note that the company also markets an internally developed gene therapy for the treatment of hemophilia B in the United States and EU under the brand name Hemgenix. The approvals in the U.S. and EU markets in 2022 and 2023, respectively, marked a significant milestone in the field of genomic medicine as it brought a new treatment approach for patients living with hemophilia. Zacks Rank and Other Stocks to Consider uniQure currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the drug/biotech industryare ALX Oncology Holdings ALXO, Annovis Bio ANVS and Compugen CGEN, each carrying a Zacks Rank #2 at present. In the past 30 days, the Zacks Consensus Estimate for ALX Oncology's 2024 loss per share has remained constant at $2.89. During the same period, the consensus estimate for 2025 loss per share has remained constant at $2.73. Year to date, shares of ALXO have plunged 57.3%. ALX Oncology beat estimates in two of the trailing four quarters and missed twice, delivering an average negative surprise of 8.83%. In the past 30 days, the Zacks Consensus Estimate for Annovis' 2024 loss per share has remained constant at $2.46. During the same period, the consensus estimate for 2025 loss per share has remained constant at $1.95. Year to date, shares of ANVS have lost 22.1%. ANVS beat estimates in three of the trailing four quarters and missed once, delivering an average negative surprise of 1.39%. In the past 30 days, the Zacks Consensus Estimate for Compugen's 2024 earnings per share has remained constant at 5 cents. The consensus estimate for 2025 loss per share is currently pegged at 11 cents. Year to date, shares of CGEN have lost 11.1%. CGEN's earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 5.79%. To read this article on Zacks.com click here.

TELUS & Magnite Tie-Up to Boost Streaming TV Landscape - Magnite (NASDAQ:MGNI), Motorola Solns (NYSE:MSI) 2024-07-10 20:57:00+00:00 - Loading... Loading... TELUS Corporation TU recently joined forces with Magnite MGNI – a leading global sell-side advertising company. TELUS has adopted Magnite's SpringServe ad server and Magnite Streaming SSP as its preferred ad technology solutions in Canada, paving the path for a new era of digital advertising in the country's streaming TV business. Based in CA, the United States, Magnite (formerly known as the Rubicon Project Inc.) is a global provider of ad-tech solutions. The company's omnichannel advertising platform enables publishers to monetize across all auction types and formats, including CTV, desktop display, video, audio and mobile. The partnership is forged at a critical juncture when the television industry is undergoing rapid evolution, with consumers increasingly embracing the convenience and flexibility of ad-supported streaming. Magnite has highlighted in its research that 74% of Canadian audiences are currently watching streaming TV, in contrast to only 51% who are tuning into traditional paid TV. TELUS has been at the forefront of this transformation by rolling out Free Ad-Supported TV channels to its TELUS TV+ customers at no additional cost. These FAST channels, which include popular offerings from TIME, Tastemade, The Washington Post and more, have created an innovative opportunity for advertisers and agencies to enhance their digital strategies and connect with TV audiences in more meaningful ways. To boost the viewer experience and maximize the potential of FAST channels, TELUS is utilizing Magnite's cutting-edge ad technology solutions. Magnite's SpringServe ad-serving platform, engineered specifically for connected TV and video advertising, is likely to aid TELUS in gaining better insight, transparency and control, enabling the delivery of more optimal video ad experiences. Furthermore, Magnite's Streaming SSP will empower TELUS to manage and monetize its CTV inventory with technologies that support exceptional, long-form video and high-quality viewing experiences. Vancouver, British Columbia-based TELUS is a renowned brand in Canada's telecommunications industry. It provides wireless, wireline and Internet communications services for voice and data to businesses and consumers. The company is continuously investing in innovative technologies and sustainable business practices to drive long-term growth and transformation. Recently, it announced an investment of C$6.6 million in the North Shore region of Quebec to upgrade and deploy TELUS' PureFibre and 5G networks in the territory. These investments reflect TELUS' broader commitment to Canada, as it aims to invest C$73 billion across the country by 2028, including C$10 billion in the Quebec economy. At present, TELUS carries a Zacks Rank #3 (Hold). The stock has gained 119% compared with the industry's growth of 103.6% in the past year. Image Source: Zacks Investment Research Stocks to Consider NVIDIA Corporation, sporting a Zacks Rank #1 (Strong Buy) at present, delivered a trailing four-quarter earnings surprise of 18.43%, on average. In the last reported quarter, it delivered an earnings surprise of 11.48%. NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company's focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms. Motorola Solutions Inc. MSI provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola carries a Zacks Rank #2(Buy) at present. It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%. To read this article on Zacks.com click here.

Jury Finds Archegos Founder Bill Hwang Guilty of Fraud and Racketeering 2024-07-10 20:56:43+00:00 - A jury in federal court in Manhattan on Wednesday found the investor Bill Hwang guilty on charges arising from the collapse of Archegos Capital Management, which led to roughly $10 billion in losses for a handful of big Wall Street banks. The 12-person jury deliberated for nearly two days after a two-month trial that featured testimony from 21 prosecution witnesses. Two key witnesses were former employees of Archegos, which Mr. Hwang had set up in 2013 as a giant family office that traded like a hedge fund but without much regulatory oversight. In all, Mr. Hwang, 60, was charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation. The jury found him guilty on 10 of those charges and found him not guilty on one of the seven counts of market manipulation. Mr. Hwang, who was seated and wearing a dark suit when the foreperson read the verdict, could spend the rest of his life in a federal prison.

I lived in Yellowstone National Park and watched tourists constantly make these 5 mistakes 2024-07-10 20:39:00+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Yellowstone National Park isn't a theme park, and it's a mistake to treat it like one. My husband and I spent a year living out of a pickup truck driving cross-country. During that time, he took a seasonal job in Yellowstone National Park, and we ended up living there for three months. I'd spent a lot of time in national parks prior to this, but the mistakes that I saw travelers consistently making here were shocking. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Things were especially rough during the busy summer season when most people treated the park more like a shopping mall on Black Friday than a shared space in nature. Advertisement If you're going to Yellowstone — especially if you're visiting this summer — don't make these mistakes. Stopping in the middle of the road I saw many near accidents caused by travelers suddenly stopping in the middle of the road to look at animals in the distance. Related stories Instead of braking without warning, find a safe spot to pull over and then walk back to see wildlife. Taking the time to find a place to park off-road may jeopardize your chance to see certain animals, but it can keep you from getting rear-ended. Only sticking to the classic tourist spots Consider trying to see more than just Old Faithful. Kyle Sparks/Getty Images There's more to Yellowstone than Old Faithful. Advertisement Yellowstone National Park is 2.2 million acres — don't make the mistake of spending your whole trip only seeing a series of popular spots that wouldn't even cover a single acre. Looking off the beaten path allowed me to see boiling mud pots, soaring eagles, and herds of pronghorns without crowds. Before your trip, look up more than just the most popular attractions to find other spots and trails to explore. Thinking you can see the whole park in a day You can't see all of Yellowstone in a day. I didn't even see all of it during my three months living there. If your time is limited, put just a few things on your itinerary and take the time to see, enjoy, and learn from them. Advertisement Don't spend the majority of your days driving all over the park just to check things off of a must-see list or to post photos to the internet of attractions. There are plenty of those already. Treating wildlife like pets Yellowstone isn't a pet store or a zoo. Animals live here. Design Pics Editorial/Getty Images Unfortunately, I saw travelers harass animals often. They aren't there for your entertainment — respect them and their homes. Just because animals in Yellowstone don't run away from you doesn't mean that you should head toward them, either. Bison look cute until they gore you. Elk are just giant deer until they swing their antlers like a sword. Feeding prairie dogs your lunch can expose you to disease while potentially making them sick. Advertisement Being unprepared As someone who has been freezing cold in Yellowstone in August, I recommend being prepared for temperature swings as big as 40 degrees Fahrenheit in just a few hours. Wear hiking boots and layers you can add and subtract from throughout the day to stay comfortable. Pack snacks and plenty of water so that you can stay hydrated and fueled. Having what you need can help you comfortably stay out in the parks even longer.

Athira Completes Dosing in Alzheimer's Study, Stock Up - Acrivon Therapeutics (NASDAQ:ACRV), Adaptive Biotechnologies (NASDAQ:ADPT) 2024-07-10 20:38:00+00:00 - Loading... Loading... Athira Pharma, Inc ATHA recently announced that it has dosed the last patient in the phase II/III LIFT-AD study, which is evaluating its pipeline candidate, fosgonimeton for the treatment of mild-to-moderate Alzheimer's disease (AD). Shares of the company were up 29.4%, following the announcement of the news. The LIFT-AD study evaluates once-daily fosgonimeton (40 mg) subcutaneous injection versus placebo over a treatment period of 26 weeks in mild-to-moderate AD patients. The study is designed to assess the treatment effects of fosgonimeton across multiple aspects of AD. The primary endpoint of the LIFT-AD study is to see the change from baseline following 26 weeks of treatment using the Global Statistical Test, which evaluates cognition and function, the two key measures of disease progression. Other secondary and exploratory endpoints are changes in plasma biomarkers of neurodegeneration, protein pathology and neuroinflammation. Alzheimer's disease is a devastating neurodegenerative disorder characterized by the accumulation of tau tangles and amyloid beta (Aβ) plaques in the brain. Shares of Athira have rallied 39.5% in the year so far against the industry's decline of 7.1%. Image Source: Zacks Investment Research Top-line data from the LIFT-AD study is now expected by the end of the third quarter of 2024. The company plans to present full data from the LIFT-AD study at the Clinical Trials on Alzheimer's Disease conference, which is scheduled to take place later in the year. Notably, eligible patients from the LIFT-AD study and the phase II ACT-AD study will enroll in the open-label extension study, which can provide insights into the long-term safety and long-term effects of fosgonimeton. Fosgonimeton, a potentially first-in-class, small molecule drug candidate, is designed to modulate the neurotrophic hepatocyte growth factor system to protect and maintain neuronal health and function. Apart from AD, fosgonimeton is also being evaluated in the phase II SHAPE study for the potential treatment of Parkinson's disease, dementia and dementia with Lewy bodies. In the absence of a marketed product, the successful development of fosgonimeton, along with other pipeline candidates, remains in key focus for Athira. Zacks Rank & Stocks to Consider Athira currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector are Acrivon Therapeutics, Inc. ACRV, Adaptive Biotechnologies Corporation ADPT and RAPT Therapeutics, Inc. RAPT, each holding a Zacks Rank #2 (Buy) at present. In the past 60 days, estimates for Acrivon Therapeutics' 2024 loss per share have narrowed from $3.05 to $2.47. Loss per share estimates for 2025 have narrowed from $3.04 to $2.55. Year to date, ACRV shares have rallied 44.9%. ACRV's earnings beat estimates in three of the trailing four quarters and missed the same on the remaining occasion, the average surprise being 3.56%. In the past 60 days, estimates for Adaptive Biotechnologies' 2024 loss per share have narrowed from $1.30 to $1.29, while loss per share estimates for 2025 have narrowed from $1.09 to $1.02. Year to date, ADPT shares have declined 27.7%. ADPT's earnings beat estimates in two of the trailing four quarters, meeting the same once and missing on the remaining occasion, the average surprise being 0.65%. In the past 60 days, estimates for RAPT Therapeutics' 2024 loss per share have narrowed from $3.03 to $2.93. Loss per share estimates for 2025 have narrowed from $2.08 to $2.05. Year to date, RAPT shares have declined 87.1%. RAPT's earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 3.19%. To read this article on Zacks.com click here.

Seeking carbon-free power, Virginia utility considers small nuclear reactors 2024-07-10 20:12:34+00:00 - Virginia’s largest utility said Wednesday that it will explore the possibility of using small nuclear reactors to help meet growing electricity demands while reducing greenhouse gas emissions. Nuclear power has been emerging as an attractive option for states transitioning away from coal, oil and other fossil fuels. Proponents of a new generation of smaller reactors have said they’ll be cheaper and quicker to bring online. There are no small modular reactors, known as SMRs, in operation in the U.S., according to the Nuclear Regulatory Commission, the independent agency that oversees civilian uses of radioactive material. A project to build the first SMR, in Idaho, was terminated last year following cost increases and a lack of subscribers. But a pilot project is underway in Tennessee, while Bill Gates and his energy company plan to build a commercial SMR plant in Wyoming. Dominion Energy Virginia said Wednesday that it has asked SMR companies to evaluate the feasibility of developing a project at the site of its existing North Anna nuclear power plant outside Richmond. Speaking near its cooling towers, Dominion CEO Robert Blue said nuclear power already makes up 90% of Virginia’s carbon-free electricity. A new state law allows the company to explore the use of SMRs, with associated costs capped at $1.40 per month for a typical residential customer. Blue said he expects the cost impact to be much lower. Dominion serves about 2.7 million customers in Virginia. It has been erecting solar farms and is installing a massive windfarm off the coast of Virginia Beach. A 2020 state law set a target for 100% of Virginia’s electricity to come from carbon-free sources by 2050. Speaking at Wednesday’s news conference, Gov. Glenn Youngkin said it’s important to embrace new technologies for power generation. “We can’t build enough wind,” Youngkin said. “We can’t build enough solar in order to power the Virginia of the future. We need all of the above.” A 2022 Associated Press survey of energy policies in all 50 states and the District of Columbia found that a strong majority — about two-thirds — say nuclear will help replace fossil fuels. But opponents, mostly in Democratic-led states, cite the cost of new reactors compared to installing wind turbines or solar panels, as well as safety concerns. There’s also the question of how to store hazardous nuclear waste. Some environmentalists oppose small modular reactors for similar reasons. And a 2022 Stanford-led study found that SMRs will generate more waste than conventional reactors. But interest in SMRs appears to be growing, even though one project was already canceled. In January 2023, the Nuclear Regulatory Commission certified the first design for one from Oregon-based NuScale Power. The company worked with a group of Utah utilities to demonstrate a six-reactor plant at the Idaho National Laboratory, generating enough electricity to power more than 300,000 homes. But the project was terminated in November. Costs had increased by more than 50% in two years to $89 per megawatt hour. And it was unlikely that enough local power providers would subscribe for the project to continue. Scott Burnell, a spokesman for the commission, said Wednesday that the NuScale Power design remains certified and is available for companies to consider. Meanwhile, the commission has other designs for other locations under review. For example, NRC has granted a construction permit to Kairos Power, which is building a test version of an SMR in Oak Ridge, Tennessee, Burnell said. It also submitted an application for a larger test version on the same site. Burnell said another application is under review from the company TerraPower, which is chaired by Gates, the co-founder of Microsoft. That project would use an SMR for a commercial power plant in Kemmerer, Wyoming. “We have several other reactor designers who are talking to us about potentially applying, either for other construction permits or to have their designs generically approved,” Burnell said. “So there are a lot of other names (of companies) that are in discussions with us. But no formal applications at this point.”

Biden Sets Second Post-Debate Interview, This Time With NBC’s Lester Holt 2024-07-10 19:59:45+00:00 - President Biden has committed to his second major network interview since the debate debacle that has fueled questions about his continued candidacy. The president will tape an interview with the NBC News anchor Lester Holt on Monday in Austin, Texas, the network said on Wednesday. NBC plans to air the interview “in its entirety” that evening at 9 p.m. Eastern, a similar prime-time placement as ABC’s interview with Mr. Biden that aired last Friday. Mr. Holt, who last interviewed the president in February 2022, will speak with Mr. Biden for at least 15 minutes at the LBJ Presidential Library, NBC said. Excerpts from their conversation are expected to appear on that evening’s “NBC Nightly News,” with the unedited interview to follow in prime-time. Mr. Biden has been under pressure from allies to appear in more unscripted settings with journalists, to show that his poor performance at last month’s debate — where he at times struggled to deliver cogent statements — was, as he has argued, merely one “bad night.”

NASA Says No Plan to Use SpaceX to Rescue Boeing Starliner Astronauts 2024-07-10 19:58:14.956000+00:00 - For two astronauts supposedly stranded in space, Suni Williams and Butch Wilmore of NASA are certainly enjoying living aboard the International Space Station for an extra month or two. “We are having a great time here on I.S.S.,” Ms. Williams said during a news conference from orbit on Wednesday. She added: “I’m not complaining. Butch isn’t complaining that we’re up here for a couple of extra weeks.”

Release of Kevin Costner’s Next ‘Horizon’ Film Is Canceled 2024-07-10 19:52:19.256000+00:00 - Kevin Costner’s audacious experiment seems to have failed. Mr. Costner tried something rare this summer, releasing the first chapter of his western saga “Horizon” — which he directed, starred in, co-wrote and partly financed — in theaters across the country on June 28. The plan was for the second chapter in the sprawling story to be released six weeks later. But thanks to paltry box office returns, that plan has been scuttled. On Wednesday, New Line Cinema, a subsidiary of Warner Bros., said it was canceling the theatrical release of “Horizon: An American Saga — Chapter 2,” which was scheduled to debut in theaters on Aug. 16. The first chapter, which cost $100 million, made $11 million in its opening weekend and has generated just $22.6 million over all. Mr. Costner planned for the saga, about the settling of the West after the Civil War, to consist of four chapters, and tickets to the first two chapters were made available at the same time. Those who bought tickets to the second “Horizon” film would be able to receive a refund. “Horizon: An American Saga — Chapter 1” will now be available via premium video on demand on Tuesday, “in order to give audiences a greater opportunity to discover the first installment of ‘Horizon’ over the coming weeks,” a New Line spokesman said in a statement. It will also be available on Max, the streaming service from Warner Bros. Discovery, though no date has been set for that. It is not clear when or how the second chapter will be released.

Replacement airbags in used cars have killed 3 people and disfigured 2, feds warn 2024-07-10 19:12:00+00:00 - Airbag recall still a concern for thousands of vehicles Airbag recall still a concern for thousands of vehicles 03:11 Replacement airbag inflators in used cars in the U.S. have killed three people and caused life-altering, disfiguring injuries in two others in the last nine months alone, federal officials warned on Wednesday. The deaths and injuries stem from vehicles previously involved in crashes in which the original airbags were replaced with defective inflators, most of which were manufactured overseas, the National Highway Traffic Safety Administration said in a consumer alert. "These dangerous aftermarket parts malfunctioned in subsequent crashes, sending large metal fragments into drivers' chests, necks, eyes and faces, killing or severely injuring drivers in otherwise survivable crashes," NHTSA said. Such replacement parts are often made by foreign companies with little reputation for quality, and are typically sold at prices far below the cost of genuine equipment, the agency said, referring to the components that the led to the three deaths and other injuries as "faulty, cheap, imported aftermarket air bag inflators." The parts are often ordered online, shipped to the U.S. and installed at less reputable repair shops, according to regulators. NHTSA urged people who own or are buying a used vehicle to learn about its history to ensure it has genuine airbag inflators, as an inadequate replacement part could kill or critically injure them in a crash. "Additionally, these inflators may deploy partially or too slowly, failing to protect an occupant's head from striking the steering wheel or dashboard," the agency said. More specifically, NHTSA is advising people to: Obtain a vehicle history report. If the vehicle has been reported in a crash where the airbag deployed, motorists should visit a reputable independent mechanic or dealership for an airbag inspection to ensure the parts are genuine. Do business with reputable independent mechanics and manufacturer dealerships. When considering a purchase from a private seller, obtain a vehicle history report and have the vehicle inspected by a trusted mechanic. Ask about the replacement parts when having a vehicle serviced, including the brand and origin of the parts. Buy with caution when looking at automotive parts online from overseas retailers or sold at prices well below competitors. If used vehicle owners are concerned they might be driving a car with a faulty replacement inflator, the government advises contacting their brand's dealership or a reputable mechanic to determine if the parts need to be replaced. Owners whose vehicle has one of the suspect inflators should contact their local Homeland Security Investigations office or FBI field office to report it. Complaints may also be submitted online. Consumers can also contact NHTSA online or by calling the agency's hotline at (888) 327-4236 Monday through Friday, 8 a.m. to 8 p.m. Eastern time.

BP predicts global oil demand will peak in 2025, bringing to end rising emissions 2024-07-10 19:08:00+00:00 - BP has predicted that the world’s demand for oil will peak next year, bringing an end to rising global carbon emissions by the mid-2020s amid a surge in wind and solar power. The energy company’s influential outlook report has found that oil use will increase by about 2m barrels a day to peak at about 102m in 2025 across both of its forecasts. The first forecast scenario shows the world’s current energy transition trajectory and the other shows the pathway to meeting global net zero targets by 2050. BP predicts in both scenarios that carbon emissions will reach a peak in the middle of the decade amid a rapid expansion of wind and solar power as technology costs continue to fall. However, the report sets out starkly different pathways for the future demand for gas, which has emerged in recent years as key growth area for energy companies including BP. Under the report’s net zero scenario, gas use would peak around the middle of this decade before halving by 2050, compared with 2022 levels. But the current trajectory suggests gas demand will continue to grow throughout the forecast, expanding by about a fifth by 2050. In the scenarios, demand for liquefied natural gas, which is cooled to be transported on ships, climbs by 40% and 30% above 2022 levels respectively. The report also suggests higher-than-expected oil consumption in the 2030s compared with BP’s previous forecasts, which would pose a serious threat to the world’s climate targets. The oil company said its forecasts for the current global trajectory, which included climate policies already in place, showed the world would breach the carbon budgets keeping global temperatures from rising above 2C above preindustrial levels. Under the current trajectory oil demand is expected to fall to 97.8m barrels a day in 2035, which is 5% higher than last year’s BP forecasts. The net zero model predicts demand will remain at 80.2m barrels in 2035, up 10% on last year’s outlook. BP said oil would continue to “play a significant role in the global energy system for the next 10-15 years”. The company attracted anger from environmental campaigners after watering down a pledge to cut oil and gas production by 40% by 2030, compared with 2019 levels, to a 25% decline after Russia’s invasion of Ukraine ignited a surge in global energy market prices. The outlook’s findings are likely to stoke fears that the global shift away from fossil fuels towards clean power may be slowing, in part due to rising energy demand in developing economies. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Spencer Dale, BP’s chief economist, said the world was in an “energy addition phase” during which the consumption of both low-carbon energy such as renewables and fossil fuels was increasing. In order to keep a cap on rising emissions, low-carbon sources would need to roll out at a pace that matched the increase in global energy demand, Spencer added. BP’s outlook predicts wind and solar power capacity will increase eightfold by 2050 under the world’s current climate policies and by a factor of 14 under its net zero scenario, compared with 2022 levels. Expansion in renewable energy projects is expected to be concentrated in China and developed economies over the next decade, accounting for about 30% to 45% of the increase in new capacity across BP’s two scenarios. The rapid expansion in wind and solar power will enable further declines in technology and energy costs that will in turn support more renewable projects, the company said.