Elon Musk calls claims of sexual misconduct ‘politically motivated’

maj 23, 22 eseltblx@trythe.net

Elon Musk on Friday forcefully challenged a news report that he had sexually harassed a flight attendant aboard a corporate jet, allegations that the chief executive of Tesla and SpaceX dismissed as a “politically-motivated hit piece” intended to upend his contentious bid to buy Twitter.

The report, published Thursday by the online publication Insider, alleges that Musk’s aerospace firm paid a flight attendant $250,000 to settle a sexual misconduct claim against him in 2018. The woman was a member of the cabin crew on a contract basis for SpaceX’s corporate jet fleet at the time of the alleged incident, Insider reported, citing interviews and documents.

The Post has not independently verified the account, which according to Insider draws on a declaration signed by a friend of the flight attendant prepared in support of her claim, as well as email correspondence and other records. Neither is identified by name.

In a series of tweets that began Thursday and continued into Friday, Musk denied the report, calling it an effort to disrupt his $44 billion bid to buy Twitter, which has been cheered by many conservatives and bemoaned by many liberals.

“They began brewing attacks of all kinds as soon as the Twitter acquisition was announced,” Musk tweeted Friday morning. “In my 30 year career, including the entire MeToo era, there’s nothing to report, but, as soon as I say I intend to restore free speech to Twitter & vote Republican, suddenly there is …”

Tesla shares, which have fallen sharply since Musk publicly acknowledged his pursuit of Twitter in early April, tumbled another 8.7 percent Friday. The social media platform, meanwhile, was up 1.1 percent in afternoon trading.

According to Insider (formerly known as Business Insider), the flight attendant had been encouraged by her superiors to secure a masseuse license so she could give Musk massages. During a late 2016 flight to London aboard a Gulfstream G650ER, the report said the flight attendant told her friend, the billionaire asked her to come to his room “for a full body massage.”

When she arrived, the flight attendant found that Musk “was completely naked except for a sheet covering the lower half of his body.” During the massage, the friend’s declaration said, Musk “exposed his genitals” and then “touched her and offered to buy her a horse if she would ‘do more,’ referring to the performance of sex acts.”

The flight attendant, who rides horses, declined but continued with the massage. The friend’s declaration said the woman “is not for sale.”

The friend said that the flight attendant described the alleged incident during a hike they took together shortly after the trip, according to Insider. “She was really upset,” the friend said. “She didn’t know what to do.”

The report also says the woman’s $250,000 settlement was conditioned on a promise not to sue the company or discuss the allegations.

Insider said it reached out to SpaceX’s vice president of legal, Christopher Cardaci, who declined to comment. Musk eventually asked for more time to respond via email, Insider said, writing that there is “a lot more to this story.” The publication said that it extended the deadline but that Musk did not comment further.

Neither Musk nor SpaceX immediately responded to requests for comment from The Washington Post.

Musk commented at length on Twitter, however, writing that “those wild accusations are utterly untrue” and issuing “a challenge to this liar who claims their friend saw me ‘exposed’ — describe just one thing, anything at all (scars, tattoos, …) that isn’t known by the public. She won’t be able to do so, because it never happened.”

“Moreover,” he added, “the ‘friend’ in question who gave the interview to [Insider], is a far left activist/actress in LA with a major political axe to grind.”

“The attacks against me should be viewed through a political lens — this is their standard (despicable) playbook — but nothing will deter me from fighting for a good future and your right to free speech,” Musk tweeted.

He ended the thread: “Finally, we get to use Elongate as scandal name. It’s kinda perfect.”

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Pfizer and Moderna created life-saving vaccines. So why are their stocks crumbling?

maj 21, 22 eseltblx@trythe.net

Pfizer, BioNTech and Moderna are experiencing a post-vaccine hangover on Wall Street this year.
All three stocks surged spectacularly in 2021, thanks largely to their Covid-19 vaccines’ success and strong sales. But 2022 hasn’t been as kind to them. Shares of Pfizer (PFE) are down about 15%, while its Comirnaty vaccine partner BioNTech (BNTX) has fallen 35%. Moderna (MRNA) has fared even worse, plunging more than 40%.
What gives? Sales of the Covid vaccines aren’t the problem. Pfizer has said that it expects revenue from Comirnaty, which it splits equally with BioNTech, to hit $32 billion in 2022 while Moderna has forecast that it could generate nearly $20 billion in revenue from its coronavirus shot this year.

Part of the reason for the stocks’ slump may simply be that investors already were anticipating strong demand and did what traders do best: Buy the rumor and sell the news. Pfizer’s stock soared more than 60% last year. BioNTech shot up more than 215% in 2021 while Moderna shares rose nearly 145%.

Upshot to come?
Looking ahead, however, there could still be some more upside tied to the vaccines — especially for Pfizer and BioNTech’s stocks. Health regulators in the United States approved booster doses of the Pfizer/BioNTech shot for 5- to 11-year olds earlier this week.
Pfizer also could get an additional boost from Covid treatments thanks to its Paxlovid antiviral pill, which was approved late last year. Pfizer has said it expects $22 billion in revenue from Paxlovid this year.

Pfizer may be best positioned of the three vaccine makers to thrive beyond Covid. The company has been on a buyout binge lately, most recently announcing plans to acquire migraine drug maker Biohaven (BHVN) for nearly $12 billion earlier this month.
“The deal is a good use of cash for Pfizer, taking advantage of its sizable war chest to diversify into an approved drug that is taking share in the market and could grow revenues meaningfully,” said CFRA Research analyst Stewart Glickman in a report following the Biohaven news.
The acquisition follows a nearly $7 billion deal late last year to buy Arena Pharmaceuticals, a company developing drugs to treat immuno-inflammatory diseases. Pfizer also acquired cancer drug maker Trillium Therapeutics last year for more than $2 billion. And even after all these deals, the company still has about $24 billion in cash on its balance sheet.
Pfizer’s diversification is one key reason why analysts are expecting that the company’s revenue will increase almost 30% this year and that earnings per share will be up more than 50%.
By contrast Moderna, which is not nearly as diversified as Pfizer, needs to find another big blockbuster. Nearly 97% of the company’s sales in the first quarter were from its Covid vaccine. Moderna’s sales are expected to be up about 20% this year but analysts are forecasting a drop in profit.
CEO Stéphane Bancel said during Moderna’s most recent earnings call with analysts earlier this month that two of the company’s top goals were to “expand beyond infectious disease vaccines into therapeutics” and to find merger candidates. Moderna is also working on vaccines for other viruses, such as HIV and Epstein-Barr.

But the company also recently suffered from a big public-relations gaffe. Moderna’s newly hired chief financial officer was forced to resign after just days on the job following the disclosure of financial irregularities that are being investigated at his former employer Dentsply Sirona (XRAY), a maker of X-ray machines and other dental equipment.
BioNTech, like Moderna, is also a bit of a one-trick pony right now in that nearly all of its first-quarter revenue was derived from Comirnaty. Pfizer generated only about half its sales from the vaccine in the first quarter.

China on Friday slashed a key interest rate to rescue its slumping housing market and head off a major downturn in the world’s second largest economy.
The People’s Bank of China cut its five-year loan prime rate (LPR) by 15 basis points to 4.45%, the second reduction this year and the largest on record. Most analysts had expected a cut of five basis points.
China’s LPR is the rate at which commercial banks lend to their best customers. It serves as the benchmark for other loans and the five-year maturity is typically used as a reference for mortgages.

The central bank’s decision to slash the five-year rate is the latest in a series of steps that China has taken to tackle a real estate crisis as Covid lockdowns threaten to push the economy into its first quarterly contraction since early 2020.

Sales of new homes plunged 47% in April from a year earlier, according to the National Bureau of Statistics earlier this week, while prices in 70 cities dropped for an eighth consecutive month.
“[Friday’s move] signals that the leadership has … decided to rescue [the property sector] as soon as possible,” said Zhaopeng Xing, senior China strategist for ANZ Research. “It also suggests that China is making great efforts to achieve its 5.5% growth target” for 2022, he said.
Covid has hit China’s economy harder than expected
Covid has hit China’s economy harder than expected
The Chinese economy could shrink in the second quarter, as Covid lockdowns wreak havoc on activity. Consumer spending and factory output both shrank sharply last month, while unemployment surged to the highest level since the initial coronavirus outbreak in early 2020.

The property sector, which accounts for as much as 30% of China’s GDP, is also in a deepening crisis.
Evergrande — one of the country’s biggest developers — is undergoing a huge restructuring after it defaulted on its huge debts late last year. Analysts have long feared Evergrande’s collapse could have ripple effects across the property industry.
Property sales have slowed since last year, as tight credit policies and a weakening economy damped demand. This year’s Covid lockdowns hit the industry further.
No cars were sold in Shanghai in April as zero-Covid policy hammers activity
No cars were sold in Shanghai in April as zero-Covid policy hammers activity
“The Omicron wave and draconian lockdowns in around 40 cities have significantly limited mobility, employment, income and the confidence of Chinese households,” Nomura analysts said.

“Beijing wants to rescue the property markets, which have experienced the worst contraction in many years,” they added.
China’s central bank announced some other measures this week to lift the market. The PBOC said last Sunday that it would cut the mortgage rate for first-time homebuyers.

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Ten years from boom to bust

maj 17, 22 eseltblx@trythe.net

A decade after the splash of Chinese cash first made waves in the global football market, the once racing certainty that China would become a major player in the game looks increasingly like a long-odds gamble.
The decision to relinquish the rights to next year’s Asian Cup finals, which was made by China last weekend citing Covid-19 uncertainties, has left Chinese football facing an uncertain future.
Staging the quadrennial continental championship in nine sparkling new arenas and one rebuilt stadium was supposed to be a stepping stone towards realizing President Xi Jinping’s ambition of hosting the World Cup.

That dream now appears to be further away than ever.

The grinding impact of the global health crisis and China’s pursuit of a zero-Covid strategy, coupled with increasing difficulties within the business sector that bankrolled many of the country’s clubs, has left the game in turmoil.
“The gloss has come off China’s sporting ecosystem,” Mark Dreyer of China Sports Insider told Reuters.
“Who would trust China with a World Cup bid given everything we’ve seen in the last two years from the pandemic?

“In football terms, we’ve basically seen the full boom and bust.”
The current climate is a long way from the day, 10 years ago on Tuesday, when Guangzhou Evergrande unveiled World Cup winner Marcello Lippi as their new head coach on an annual salary of 10 million euros ($10.44 million).

New era
The Italian’s arrival heralded a new era for Chinese football, largely fueled by money from ambitious property developers determined to deliver Xi’s dream.
Within 18 months of his arrival, Lippi had steered Guangzhou to the Asian Champions League title. Two years later, another World Cup winner, Luiz Felipe Scolari, repeated the feat.
The perennially weak national team aside, football was flying high in China and the sums spent on players and coaches from around the world escalated as the Chinese Super League thrived.
Oscar swapped Chelsea for Shanghai and a salary reported to be just short of half a million dollars a week in 2016, following in the footsteps of fellow Brazilian Hulk, who had moved from St Petersburg for a fee of around $50 million.
The country’s entrepreneurs, meanwhile, flocked to Europe in an effort to import expertise into China’s nascent football industry. Soon Atlético Madrid, AC Milan and Inter Milan were under Chinese ownership.
Governing bodies were courted. FIFA partnered with Wanda Sports and the Jack Ma-owned Alibaba signed up to sponsor the expanded Club World Cup on its scheduled relaunch in China in 2021.
A bid to host the World Cup in 2030 or 2034 was expected and the 2023 Asian Cup rights were secured at the Asian Football Confederation’s extraordinary congress in Paris in 2019.
Some change was already in the air before Covid-19 emerged in late 2019, but the ensuing global pandemic sent the game into a tailspin.

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Ferdinand Marcos Jr. leading in polls

maj 09, 22 eseltblx@trythe.net

With just days to go before the Philippine elections, Ferdinand Marcos Jr. continues to retain a big lead over his closest rival — the country’s current Vice President Leni Robredo.

That’s according to the latest survey by independent pollster Pulse Asia which found that 56% of respondents favored Marcos, the son and namesake of late dictator Ferdinand Marcos who was overthrown in 1986.

Robredo, who defeated Marcos in the vice presidential bid in 2016, remained a distant second. She garnered 23% in the opinion polls which surveyed 2,400 people between April 16 to 21.

“There are many candidates, only two have any chance of winning: Ferdinand Marcos Jr., son of the Philippines’ longtime former dictator, and current Vice President Leni Robredo,” said Joshua Kurlantzick, senior fellow for Southeast Asia at the Council on Foreign Relations, an American think-tank.

Outgoing President Rodrigo Duterte, whose six-year term ends in late June, has not endorsed any of the presidential candidates — but his political party is backing Marcos, according to Reuters.

Even though Duterte’s approval ratings remain high at 67%, he can only serve for one term under constitutional law.
Philippine President Rodrigo Duterte gestures as he accompanies some of PDP-Laban’s senators slate for next year’s elections with the Commission on Elections in Manila on October 8, 2021.
Philippine President Rodrigo Duterte’s six-year term in the top office ends in 2022.
Aaron Favila | AFP | Getty Images

There are some 67.5 million voters who have registered for the May 9 election. In addition to voting for senators as well as provincial, city and municipal officials, Filipinos will also be electing a president and a vice president, who will each serve for the next six years.

Voting is set to close at 7 p.m. local time on Monday, with counting set to start after that. Unofficial results might be released as soon as a few hours via a live vote count, according to Reuters. However, during the presidential elections in 2016, Duterte was officially proclaimed the winner only three weeks after the polls.

The other eight candidates include world boxing champion Manny Pacquiao who received the next highest support of 7% in the survey, and Manila mayor Francisco Domagoso — a former actor better known by his stage name Isko Moreno — who garnered 4% in the opinion polls.

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Beijing shuts Universal Studios, bans restaurant dining in major escalation of Covid restrictions

maj 01, 22 eseltblx@trythe.net

Beijing has banned all restaurant dining, shut down Universal Studios and ordered residents to provide proof of a negative Covid test to enter public venues in a major escalation of restrictions as a five-day holiday gets underway.
The Labor Day holiday, which started on Saturday this year, has traditionally been a busy time for mass travel and gatherings in China. But there is little holiday spirit this year, as the Chinese government doubles down on its zero-Covid policy to fight the country’s worst outbreak since Wuhan.
Many local governments have ordered residents not to leave their cities unless absolutely necessary and have imposed lengthy quarantine requirements for people coming from areas where Covid cases have been reported. The Chinese Transport Ministry expects 100 million journeys to be made over the holiday — a 62 percent plunge from last year.

As a month-long lockdown continues in the financial hub of Shanghai, the Chinese capital of Beijing is grappling with a new Omicron outbreak that has put officials and residents on edge.

Many Beijing residents have rushed to stock up on food and daily necessities over the past week, fearing a Shanghai-style lockdown could cause shortages.
Beijing authorities have already rolled out several rounds of mass testing, locked down dozens of residential communities and suspended schools, but restrictions were tightened further at the start of the holiday.

On Saturday, Beijing officials announced that dining-in services at restaurants would be suspended during the holiday period.

After the holiday, workers and students will be required to present a negative Covid test — taken within the previous 48 hours — to return to work or school. And starting from May 5, residents must provide a negative Covid test — taken within the previous seven days — to enter all public venues, including taking public transport. All residents are required to take a Covid test at least once a week, according to officials.
On Sunday, Universal Beijing Resort said its Universal Studios theme park and CityWalk shopping zone would be closed immediately after receiving “guidance” from disease control authorities. It did not say when the park would reopen.
Beijing reported 59 local infections on Sunday, the highest number of daily cases in its current outbreak. The city has reported more than 300 cases since April 20.
Meanwhile, in Shanghai, officials said Sunday that community transmission in the city had been “effectively controlled,” following more than a month of stringent lockdown that confined most of its 25 million residents to their homes.
Shanghai reported 7,872 local cases Sunday, continuing a general downward trend since April 13, officials said at a news conference. The city also reported 38 new deaths, bringing the total death toll of the current outbreak to 422.

Over the past two weeks, the city has stepped up efforts to send all cases to government quarantine sites.
Many senior Shanghai citizens, some with severe underlying diseases who cannot take care of themselves, were hauled off to makeshift quarantine facilities, prompting a public outcry. The government also installed metal fences outside apartment buildings where there had been recent cases to prevent people from leaving, sparking further anger.

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