FT : ‘Ticking bombs’: scientists debate threat of coronavirus mutation found in

‘Ticking bombs’: scientists debate threat of coronavirus mutation found in mink
New strain seems to have been passed from humans to the animals and back again

Denmark will first gas and then burn up to 17m mink in the next few days as scientists debate the threat of a coronavirus strain that could be passed from humans to the animals and back again.

Covid-19 is thought to have originated in bats and then jumped to humans in China late last year, perhaps via an intermediate animal such as a pangolin.

Now Danish authorities are sounding the alarm, because a mutated version of the virus which was passed from humans to mink seems to have been transmitted back to several people in northern Denmark and the new strain could be more resistant to potential vaccines.

Christian Sonne, a professor at Aarhus University and expert in veterinary ecotoxicology, said the family of mammals that includes mink, ferrets and badgers — known as mustelids — were “ticking bombs”. They appear more susceptible to Covid-19 than most other animals but opinion is divided over just how dangerous the mutated form of the virus could be.

Denmark is the world’s largest producer of mink, farmed for their valuable fur. The dramatic cull of its entire mink population means the industry will in effect be closed down in the Scandinavian country for the next few years and, if animal rights activists get their way, for ever.

Danish authorities are offering financial inducements to farmers to kill the mink quickly and have drafted in the police and military to help. The usual facility for burning dead mink is operating at full capacity so authorities have made arrangements with other incineration plants.

Denmark first realised that a strain of coronavirus had come from mink in June after an outbreak of the disease at a care home. But particular concern is centred around a group of four mutations that has so far been found in 12 people in the north of the country, where several towns are now in effect under lockdown.

The mutations affect the spike protein, which helps the virus bind to human cells. The spike protein is also one of the main targets of potential vaccines against Covid-19.

Danish state epidemiologists found that the mutated strain from mink was less susceptible to antibodies because of the changes in the spike protein. “This is worrying as it could affect the effectiveness of a future Covid-19 vaccine,” they said in a risk evaluation given to the government in Copenhagen. It could mean people infected by that particular strain would have lower immunity, imperilling the idea of “herd immunity” for society as a whole,

Kare Molbak, Denmark’s top epidemiologist, said: “The worst-case scenario is a new pandemic starting again, this time from Denmark.”

Other experts are more sanguine, for now at least. Ian Jones, professor of virology at the University of Reading, said: “The idea that the virus mutates in a new species is not surprising as it must adapt to be able to use mink receptors to enter cells and so will modify the spike protein to enable this to happen efficiently.”

There have been dozens of reports of household pets being infected with Sars-Cov-2, the virus that causes Covid-19. Cats seem more susceptible than dogs, but neither are comparable to mink, which have been heavily infected not just in Denmark.

The Netherlands launched a widespread cull of mink earlier this year after seeing similar transmission of the virus from animals to humans.

Wim van der Poel, a Dutch veterinarian who is an expert on zoonotic diseases that spread from animals to humans, said the crucial question would be whether the mutated strain of the virus was more virulent in humans. Danish authorities have said that so far the strain seen in Denmark does not appear to be more dangerous to humans.

Prof van der Poel said: “What we see in mink is that the mutation rate is a little bit higher than we see in humans. Since you have so many animals in these farms the risk of mutations is higher so the risk that the virus could be more virulent is also higher. If you have a continuing circulation in mink there’s a higher risk that it would spread back to humans again.”

James Wood, head of veterinary medicine at the University of Cambridge, said: “The true implication of the changes in the spike protein have not yet been evaluated by the international scientific community and are thus unclear. It is too early to say that the change will cause either vaccines or immunity to fail.”

Animal rights activists have welcomed the culls as in effect ending part of the fur trade in these countries. But mink farmers in Denmark were in shock. Tage Pedersen, head of a breeders’ association, told Danish broadcaster DR: “Once a mink breeder, always a mink breeder. Most people don’t retire as mink breeders, they die as mink breeders.”

On Friday the UK took Denmark off its coronavirus travel corridor list, forcing people arriving from the country to self-isolate for 14 days. Grant Shapps, transport secretary, gave the Danish mink outbreak as the reason for the decision.

For Prof Sonne, who had previously called for the mink industry to be banned worldwide, the incident is a reminder that human behaviour has transformed ecosystems — making it more likely that animal diseases will thrive and potentially be passed to humans. “This is the beginning and far from the end,” he added.

TechCrunch : Elon Musk’s Tesla tequila will run you $250 a bottle

Elon Musk’s Tesla tequila will run you $250 a bottle

Image Credits: Tesla/screenshot
Teslaquila, the Tesla -branded liquor that co-starred in CEO Elon Musk’s controversial April Fool’s Day joke about the automaker filing for bankruptcy, has arrived.
The automaker now lists Tesla Tequila (a bit different from the original Teslaquila branding) on its website. The tequila — described as a “small-batch premium 100% de agave tequila añejo made from sustainably sourced highland and lowland agaves,” is housed in a handblown glass bottle shaped in the electric charge symbol. Oh, and it costs $250.
Celeb-produced tequilas are nothing new — and are often lucrative. Casamigos, the tequila brand co-founded by George Clooney, was acquired by Diageo in a deal that valued the company up to $1 billion. Tesla Tequila might be first liquor sold by an automaker. The liquor is produced by Nosotros Tequila, according to the company.

The tequila first popped up in April 2018 when Musk tweeted a photo of himself passed out against a Tesla Model 3 “surrounded by “Teslaquilla” bottles, the tracks of dried tears still visible on his cheeks.” In the photo, Musk is holding a cardboard sign that reads “bankwupt.”
Later that year, Tesla filed an application with the U.S. Patent and Trademark Office to trademark “Teslaquila.”

WSJ : Chinese Rival to ByteDance Plans Multibillion-Dollar IPO in Hong Kong

Chinese Rival to ByteDance Plans Multibillion-Dollar IPO in Hong Kong
Tencent-backed Kuaishou Technology is aiming for a roughly $50 billion valuation—source

The pipeline of Chinese technology startups planning to go public is moving along despite the sudden suspension of Ant Group Co.’s blockbuster listings.

Kuaishou Technology, an operator of a popular short-video and live streaming platform that competes with ByteDance Ltd. in China, filed for an initial public offering in Hong Kong that could take place in the coming months.

The Beijing-headquartered company is aiming to raise about $5 billion and earn a valuation of roughly $50 billion by listing the international financial hub, according to a person familiar with the situation. Kuaishou’s market debut could take place as soon as January 2021, the person and another individual familiar with the plans said.

The company declined requests for comment.

Kuaishou was co-founded and is controlled by Su Hua and Cheng Yixiao, software engineers who previously worked for Google China and Hewlett Packard respectively, as well as at other companies. Chinese internet giant Tencent Holdings Ltd. is one of its largest shareholders with a 21.6% stake in the company. Kuaishou also counts Baidu Inc., Sequoia Capital China and other venture-capital and private-equity firms among its shareholders.


Kuaishou operates a namesake short-video and live-streaming app, which translates into “fast hand” in Chinese. A challenger to Bytedance’s Douyin video-sharing app, Kuaishou operates the world’s second-largest short-video platform by average daily active users, according to iResearch data cited in its preliminary listing prospectus.

The company raised $3 billion from investors in early 2020 in what was its sixth private funding round since 2014. It raised a total of $1.8 billion in the earlier funding rounds, according to its prospectus.

Kuaishou’s planned stock sale is the latest in a horde of Chinese companies that are seeking listings in Hong Kong, during one of the biggest gold rushes for technology stock investments in years.

Companies and their bankers appear undeterred by China’s surprise decision to halt the IPOs of Ant, which earlier this week was forced to suspend concurrent listings on both the Hong Kong stock exchange and Shanghai’s fledging STAR Market. Before the suspensions, Ant had already collected investor orders that would put it on track to raising at least $34.4 billion in what would have been the world’s largest IPO.

Kuaishou is also planning to go public at a time of rising U.S.-China tensions, which have created trouble for Bytedance’s operations abroad. The Trump administration has sought to ban the downloads and updates for Bytedance’s video-sharing app TikTok in the U.S. and force a sale of its major stake to U.S. investors, citing national security. A U.S. District Judge in Washington has granted a preliminary injunction against a Commerce Department curb on TikTok downloads and mobile-app updates that was supposed to take effect in late September.

The bulk of Kuaishou’s users and operations are in China, making it relatively immune to the U.S. tensions and issues facing Bytedance. In India, however, bans in June and September on dozens of China-related mobile apps included three of its apps. The company said the continuing friction between China and the U.S. as well as India “may have an adverse effect” on its business and expansion plans.

The company’s origins date back to 2011, when a mobile app called GIF Kuaishou was launched and used by people to create and share animated GIF images. In 2013, Kuaishou rolled out a short-video social platform, which subsequently extended to live-streaming services in 2016.

In the first half, Kuaishou recorded average daily active users of 302 million, who generally spent more than 85 minutes a day on its app. An e-commerce business the company started in 2018 generated “gross merchandise value” of 109.6 billion yuan, equivalent to $16.6 billion, in the first half of this year.

The company reported revenue of 39.1 billion yuan last year. In the first six months of 2020, revenue jumped 48% to 25.3 billion yuan, from the same period a year ago.

Kuaishou reported a first-half operating loss of 7.6 billion yuan. Its net loss for the period totaled 68.1 billion yuan, which was due to higher expenses and fair-value changes of its convertible redeemable preferred shares.

Kuaishou hired units of Morgan Stanley, Bank of America Corp. and China Renaissance Holdings Ltd. as joint sponsors for its planned IPO, according to the preliminary prospectus.

>>> Europe : Brokers Upgrades & Downgrades - 6th of November 2020 V2(+)

>>> Up
* Accor Raised to Neutral at Citi; PT 23.50 euros
* Aveva Raised to Buy at Panmure Gordon; PT 4,486 pence (+)
* Casino Raised to Equal-Weight at Morgan Stanley
* FCC Raised to Buy at SocGen; PT 10 euros
* Galp Raised to Neutral at Goldman; PT 10.60 euros
* HeidelbergCement Raised to Neutral from Buy at Oddo, PT 59 euros
* Iberdrola Raised to Neutral at Alantra Equities; PT 11.70 euros
* Intesa Sanpaolo Raised to Hold at Berenberg; PT 1.55 euros
* Lanxess Raised to Buy at SocGen; PT 56 euros
* Legrand Raised to Buy from Hold at Kepler Cheuvreux, PT 75 euros
* Loomis Raised to Buy at Handelsbanken; PT 255 kronor
* Mowi Raised to Hold at Berenberg; PT 150 kroner
* Naturgy Raised to Hold at Renta 4; PT 16.31 euros (+)
* Plus500 Raised to Hold at Peel Hunt; PT 1,375 pence
* President Raised to Add at Peel Hunt; PT 3.50 pence (+)
* Reckitt Raised to Sector Perform at RBC; PT 6,700 pence
* Sacyr Raised to Buy at SocGen; PT 2.20 euros
* Skanska Raised to Hold at DNB Markets; PT 180 kronor
* Tate & Lyle Raised to Hold at Investec; PT 650 pence (+)
* Thales Raised to Outperform at Credit Suisse; PT 80 euros

>>> Down
* Horizon Discovery Cut to Market Perform at Cowen
* Iberdrola Cut to Neutral at JB Capital Markets; PT 11.30 euros (+)
* Lagardere Cut to Hold at SocGen; PT 19.50 euros
* Scandinavian Tobacco Cut to Hold at Handelsbanken
* Verbund Cut to Neutral at Oddo BHF; PT 55 euros

>>> Initiation
* Advanced Medical Rated New Hold at Peel Hunt; PT 218 pence
* Codemasters Rated New Buy at HSBC; PT 500 pence
* DFV Deutsche Familienversicherung Rated New Buy at Berenberg
* Hammerson Resumed Equal-Weight at Morgan Stanley
* Nexans Cut to Hold at SocGen; PT 48 euros (+)
* RSA Cut to Hold at Panmure Gordon; PT 670 pence (+)
* Staffline Reinstated Buy at Liberum; PT 40 pence
* Team17 Rated New Buy at HSBC; PT 960 pence
* TrenDevice Rated New Outperform at EnVent S.p.A.; PT 1.29 euros

>>> Call
* Amadeus 3Q Earnings Show Firm is Coping, Jefferies Says (+)
* Jefferies, Bernstein on Miners: EMEA Materials Premarket (+)
* Redrow Trading Still Robust, Shares Look Cheap, Peel Hunt Says (+)
* Reckitt in Best Shape for a Decade, RBC Raises to Sector Perform
* Royal Mail FY Loss Estimate Narrowed at Jefferies on Parcel Gain (+)
* Tryg’s Joint Bid for RSA Is an ‘Ambitious Step,’ Citi Says
* Volvo Estimates Raised at Jefferies Amid Bold Fossil-Fuel Goals (+)

>>> TradeGate Pre-Market indications

  • DAX:
    • Deutsche Telekom (DTE TH) +2%
      • T-Mobile Rises After Beating Estimates and Boosting Forecast
    • Allianz (ALV TH) +1.6%
      • Allianz 3Q Operating Profit Beats Estimates
    • Deutsche Post (DPW TH) -0.8%
    • BMW (BMW TH) -0.8%
    • VW (VOW3 TH) -1%
    • Deutsche Bank (DBK TH) -1%
    • Linde (LIN TH) -1%
    MDAX:
    • Rheinmetall (RHM TH) +2.9%
      • Rheinmetall Sees FY Operating Margin 6% to 6.5%
    • Freenet (FNTN TH) +1.4%
      • Freenet Maintains FY Ebitda EU415M to EU435M, Est. EU424.9M
    • ProSieben (PSM TH) +1.2%
    • Cancom (COK TH) +1.1%
    • Fraport (FRA TH) +0.8%
    • Grenke (GLJ TH) -1.1%
    • Thyssenkrupp (TKA TH) -1.2%
    • Aareal Bank (ARL TH) -1.4%
    • Shop Apotheke (SAE TH) -1.5%
    • United Internet (UTDI TH) -2.6%
      • United Internet Sees FY Sales About +3%
    SDAX:
    • Bilfinger (GBF TH) +7.4%
      • Bilfinger Said to Explore Sale Amid Private Equity Interest (1)
    • CropEnergies (CE2 TH) +2.4%
    • LPKF (LPK TH) +2.2%
    • Sixt (SIX2 TH) +1.4%
    • 1&1 Drillisch (DRI TH) -1.9%
      • 1&1 Drillisch Cuts FY Sales Forecast
    • Wacker Neuson (WAC TH) -2.3%