Insmed Call to Discuss Topline Results from Phase 3 Bronchiectasis Study

 Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced that it will host a conference call and webcast tomorrow, Tuesday, May 28, 2024, at 8:00 am ET to discuss topline results from the ASPEN study, a global, randomized, double-blind, placebo-controlled Phase 3 study to assess the efficacy, safety, and tolerability of brensocatib in patients with non-cystic fibrosis bronchiectasis. The Company plans to issue a press release sharing the topline results at approximately 6:30 am ET tomorrow, prior to the start of the conference call.

Conference Call

Shareholders and other interested parties may participate in the conference call by dialing (800) 715-9871 (U.S.) or (646) 307-1963 (international) and referencing access code 1245105. The call will also be webcast live on the Company's website at www.insmed.com.

A replay of the conference call will be accessible approximately one hour after its completion through June 27, 2024, by dialing (800) 770-2030 (U.S.) or (609) 800-9909 (international) and referencing access code 1245105. A webcast of the call will also be archived for 90 days under the Investor Relations section of the Company's website at www.insmed.com.

https://www.prnewswire.com/news-releases/insmed-to-host-investor-call-to-discuss-topline-results-from-phase-3-aspen-study-of-brensocatib-in-patients-with-bronchiectasis-302156113.html

Who is Claudia Sheinbaum, Mexico's presidential frontrunner?

 Voters in Mexico head to the polls for a general election on June 2.

They'll select every member of the chamber and senate... as well as a new president to serve a six-year term.

Claudia Sheinbaum is the frontrunner.

If she wins, she'll become the country's first female president.

Here's what you need to know about her.

:: Who is Claudia Sheinbaum?

Sixty-year-old Sheinbaum is a trained physicist and Mexico City's former mayor.

She's a loyal ally of current leftist President Andres Manuel Lopez Obrador - and a member of the ruling MORENA party.

She's a strong supporter of social welfare programs promoted by the president that have helped forge his power base and tackle inequality across the country.

She's run a cautious campaign - careful not to criticize Lopez Obrador - who has been both her mentor and the source of much of her electoral support.

Current polls show her holding nearly 49% of the vote.

:: Her policies

She hasn't given much detail about her government plans...

and analysts say she faces a delicate balancing act between her own policy goals and maintaining Lopez Obrador's legacy.

Sheinbaum has indicated that several of his high-ranking officials will remain in their posts if she takes over.

But she has ruled out speculation there would be a "red telephone" to receive instructions from the former president, saying "I am the one who is going to govern."

She has pledged to focus on water management and renewable energy as part of a plan to boost the country's sustainability.

Supporters say she will also veer away from her successor on key issues like corruption and security.

https://www.yahoo.com/news/claudia-sheinbaum-mexicos-presidential-frontrunner-204504769.html

US lawmaker tells Taiwan weapons are coming, China drills show deterrence need

 A senior U.S. lawmaker visiting Taipei said on Monday that weapons Taiwan had ordered are finally on their way, and that China's "intimidating" war games last week underscored the need to boost the island's deterrence abilities.

China claims democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan's government rejects Beijing's sovereignty claims.

Taiwan has for the last two years complained of delays to deliveries of U.S. weapons, such as Stinger anti-aircraft missiles, as manufacturers supply Ukraine to support its defence against Russia.

Michael McCaul, the Republican chairman of the House Foreign Affairs Committee, who promised those weapons would be delivered when he visited Taiwan last year, said the Chinese military's "armada" last week had sent a very strong message to the United States.

"We are moving forward on those weapons systems. I'd like to see it faster, but they are forthcoming," McCaul told reporters after meeting Taiwan President Lai Ching-te as head of a bipartisan delegation of five other U.S. lawmakers.

The other members of the delegation were Representatives Young Kim of California, Joe Wilson of South Carolina and Andy Barr of Kentucky, all Republicans; and Democrats Jimmy Panetta of California and Chrissy Houlahan of Pennsylvania.

Taiwan needs to have sufficient weapons to show Chinese President Xi Jinping that the risk outweighs the rewards of invading the island, he added.

"President Lai and I, as always, had a very sobering and yet very direct conversation about the threat that this island faces from its neighbour to the north, and it's a real one," McCaul said. "Without deterrence, Chairman Xi has bold and aggressive ambitions."

The focus for Taiwan should be on maritime weapons like Harpoon anti-ship missiles, to stymie an invasion, he added.

McCaul also offered reassurance that no matter who won the U.S. presidential election in November, U.S. support for Taiwan would remain.

Lai, meeting McCaul earlier in the presidential office, said he would "enhance national defence capabilities, and show the world the determination of the Taiwanese people to defend their homeland".

China's Foreign Ministry said McCaul and the other lawmakers had gone to Taiwan over Beijing's strong objections, and that it had lodged "stern representations".

Last year, Beijing placed sanctions on McCaul after his visit to Taiwan and meeting with then-President Tsai Ing-wen.

China has increased its pressure against Taiwan over the past four years, including staging almost daily military activities near the island.

On Monday morning in its daily update on China's movements in the previous 24 hours, Taiwan's defence ministry said it had detected 21 Chinese military aircraft and 11 ships operating nearby.

Later Monday, China announced military exercises to the west of Nanji island, off China's Wenzhou city in Zhejiang province and to the north of Taiwan.

Taiwanese forces evacuated Nanji and the surrounding islands in 1955 under sustained Chinese attack.

Taiwan still controls Kinmen and Matsu islands further down the Chinese coast.

The defeated Republic of China government fled to Taiwan in 1949 after losing a civil war with Mao Zedong's Communists, who set up the People's Republic of China.

https://www.yahoo.com/news/us-lawmaker-says-chinas-intimidating-043230064.html

Meta adds safety features to CrowdTangle in bid to address EU concerns

 Meta Platforms has added safety features to its misinformation tracking tool CrowdTangle for use during European Parliament elections in an attempt to allay EU concerns that triggered an investigation last month into the impact of its decision to phase out the tool.

The U.S. social media platform last week said candidates for next month's polls will be shown a notification at the top of their feed in Facebook and Instagram on how to protect themselves and their accounts.

This includes directing them to resources that explain how, among others, to set up two-factor authentication, review security settings, or set up Hidden Words which is an Instagram feature that automatically sends personal message requests containing offensive words, phrases and emojis to a hidden folder.

Meta, which has more than 250 million monthly users in the European Union, on Monday followed up last week's announcement with live displays for each EU country, sorted by relevant keywords, public groups and Instagram accounts, that will enable real-time election-monitoring by researchers, journalists and civil society.

The European Commission welcomed the move.

"The Commission will monitor the effective roll-out of these functionalities and will continue working with Meta towards more permanent solutions that meet all its concerns as set out in the opening decision," the EU executive said in a statement.

"The formal proceedings against Meta remain open," it said.

https://finance.yahoo.com/news/meta-adds-safety-features-crowdtangle-181712886.html

In China, Starbucks tries to avoid price war but gets dragged into discounting

 As Starbucks faces stiff competition for its brew in China from fast-growing, low-cost rivals who have chipped into its market share, the coffee chain is increasingly being dragged into a price war it says it wants to avoid.

The stakes are high for Starbucks, which has come under growing pressure from investors recently due to weaker sales in its two biggest markets - the United States and China.

While the Seattle-based company has got its work cut out in the world's second-biggest economy, where its rival Luckin Coffee pipped it to the top spot on annual sales for the first time in 2023, management is convinced it does not need to get into a race to the bottom on prices.

"We are not interested in entering the price war," Starbucks' China CEO Belinda Wong said in January. "We are focusing on capturing high quality but profitable, sustainable growth." Those sentiments were repeated by founder Howard Schultz on a visit to Shanghai in March.

However, analysts, Reuters checks and Chinese consumers posting on social media point to an increase in discount coupons being offered by Starbucks through its own mini-programs, as well as via the coffee-maker's livestreams on Douyin, and third-party delivery platforms popular for ordering coffee.

In effect, Starbucks has made it relatively easy for Chinese consumers to buy its most commonly ordered coffees with 30% discounts or two-for-one coupons without dropping their listed prices, sliding down a slippery slope of increased discounting towards a potential price war.

While Reuters was unable quantify just how much Starbucks' use of discount coupons has increased and the firm declined to comment on its coupons policy, these types of discounting practices were once a rarity from the U.S. coffee maker. In 2024, however, they have become easily available.

Walker Shen, 38, is an office worker from Shanghai who frequently uses discount coupons to buy his daily coffee. He has noticed an increase in push notifications from Starbucks in recent months offering him 30% off coupons.

"I think less people are drinking Starbucks now," Shen said, adding that "most people aren't that demanding when it comes to quality," meaning fewer consumers were willing to pay a premium for Starbucks.

Starbucks Corporation (SBUX)

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The emergence of a price war in the coffee sector in China comes amid a persistent deflationary environment, exacerbated by weak consumer sentiment as the economy struggles to recover and wages stagnate.

Unfortunately for Starbucks, says Jason Yu, greater China managing director of market research firm Kantar Worldpanel, it doesn't really have a choice but to compete to some degree on price in a market where low cost battles have become "the new normal".

https://finance.yahoo.com/news/analysis-china-starbucks-tries-avoid-033242468.html

Boeing's Starliner Crewed ISS Mission Will Still Launch Despite Helium Leak

 After a nearly one-month delay, NASA and Boeing are moving forward with the CST-100 Starliner launch despite a helium leak. This crewed mission will mark the first time the spacecraft ferries astronauts to the International Space Station.

On Friday, NASA and Boeing officials told reporters that a problematic valve was replaced after the scrubbed May 6 launch attempt. Shortly after, engineers found a "small" helium leak with Starliner. 

NASA Associate Administrator Ken Bowersox said, "It's taken a while for us to be ready to discuss" the helium leak problem. 

"It's so complicated. There are so many things going on. We really just needed to work through it as a team," Bowersox said.

NASA and Boeing say a defective seal caused the leak in one of the flanges of the spacecraft's helium propulsion system. It was not immediately clear whether the seal was installed improperly or manufactured incorrectly.

Steve Stich, the manager of NASA's Commercial Crew Program, explained the Starliner can still fly with the helium leak:

"Should we be wrong about something, we could handle up to four more leaks.

"And we could handle this particular leak if that leak rate were to grow, even up to 100 times in this one (propulsion module)."

Stich pointed out that NASA has "flown vehicles with small helium leaks" before, including "a couple of cases" from Elon Musk's SpaceX's rockets. 

Another review of the leak is slated for Wednesday. The rocket and capsule are set to be rolled out onto the launch pad at Cape Canaveral Space Force Station in Florida on Saturday. 

https://www.zerohedge.com/technology/boeings-starliner-crewed-iss-mission-will-still-launch-despite-helium-leak

Friday Airline Travel Sets Record For Passenger Screenings: TSA

 by Naveen Athrappully via The Epoch Times,

Friday set a new record for the most airline passengers screened by U.S. Transportation Security Administration (TSA) officials in a single day, according to the agency.

“On Friday, May 24, 2,951,163 individuals were screened at checkpoints nationwide, surpassing the previous record on Nov. 26, 2023. We recommend arriving early,” the TSA said in a May 25 post on the social media platform X.

On Nov. 26 last year, the TSA screened a slightly lower figure of 2.90 million travelers. The third-highest screened day was on May 23, when officers screened 2.89 million people.

The record numbers come days after the TSA said it was prepared for the “highest passenger volumes the agency has seen at airport security checkpoints nationwide during this summer’s travel season,” according to a May 16 press release. The summer travel season begins on the Memorial Day weekend and runs through Labor Day.

The agency forecasted that May 24 would be the busiest travel day of the Memorial weekend, anticipating almost three million passengers.

For the week of May 23-29, the TSA expects to screen over 18 million passengers and crew, which would be a 6.4 percent increase in checkpoint volume compared to the same period last year.

TSA Administrator David Pekoske said the agency was coordinating with airport, airline, and travel partners and was “more than ready” to handle the expected high travel volumes.

“We are also continuing to deploy state-of-the-art checkpoint technology that increases security effectiveness, efficiency and enhances the passenger experience and our retention and recruitment numbers are the highest they’ve ever been.”

Airlines for America (A4A), an association of airline companies, also predicts a “record-setting” summer season for air travel this year.

In a May 14 press release, A4A forecasts that U.S. airlines will carry 271 million passengers worldwide this summer season between June 1 and Aug. 31, a 6.3 percent increase from last summer. If the prediction comes true, it’ll eclipse the previous record set last year when 255 million individuals went airborne.

To accommodate higher demand, U.S. carriers will be offering more flights this summer. Airlines have planned more than 26,000 scheduled flights per day for the season, up by over 1,400 from 2023.

“Our carriers have adjusted their schedules to adapt to current realities of our National Airspace System (NAS), helping to alleviate some of those pressure points and making for a smooth summer travel season,” A4A’s senior vice president of communications, Rebecca Spicer, said.

Profitability of Airlines

The higher U.S. airline passenger numbers come as the industry attempts to consistently match pre-pandemic operating revenue levels.

Between 2013 and 2019, operating revenues netted more than $200 billion every single year. Revenues in 2018 came in at $240 billion, which increased to $248 billion in 2019.

In 2020, following worldwide restrictions and lockdowns, revenues crashed to $131 billion, then rose to $194 billion in 2021, and netted nearly $280 billion in 2022. However, revenues fell to $223 billion in 2023.

The International Air Transport Association (IATA) is expecting the global airline industry’s net profits to hit $25.7 billion in 2024, a slight improvement from 2023’s $23.3 billion. This points to a 2.7 percent net profit margin rate for the year.

Willie Walsh, the IATA’s director general, pointed out that the $25.7 billion net profit in 2024 is a “tribute to aviation’s resilience” given the major losses the industry suffered in recent years.

However, industry profits “must be put into proper perspective,” he said. “A net profit margin of 2.7 percent is far below what investors in almost any other industry would accept ... On average, airlines will retain just $5.45 for every passenger carried. That’s about enough to buy a basic ‘grande latte’ at a London Starbucks.”

Even though operating profits in 2024 are expected to jump by 21.1 percent, net profit margins are only projected to rise by 10 percent, which the IATA blames mostly on increased interest rates.

New Screening Protocols

Meanwhile, the TSA announced that airline passengers could expect to encounter some new checkpoint technologies this year.

For instance, the agency is using the second generation Credential Authentication Technology (CAT-2). Like its earlier version CAT, the updated CAT-2 will confirm the authenticity of a passenger’s identity with their photo ID as well as flight details and pre-screening status.

However, the updated version comes with new camera features, with passengers potentially having to agree to have a photo of them taken in real time for identity verification. This is done to ensure that “the person standing at the checkpoint is the same person pictured on their ID,” the agency said.

The TSA highlighted that photos taken will not be stored or saved after a positive ID match has been made. However, the agency said it may retain the image for conducting tests to evaluate tech effectiveness.

“Passengers who do not want their photo taken may ask the Transportation Security Officer (TSO) for a manual ID check without penalty and losing their place in line.”

Multiple airports have also installed Computed Tomography (CT) units, which the agency claims will “significantly improve” scanning and threat detection of carry-on bags. CT units generate a 3D image of passengers’ bags, thus reducing the need to physically search their contents.

The TSA has so far deployed 2,050 CAT units at 223 airports, out of which 238 units are the updated CAT-2 versions. The agency has set up over 820 CT units at more than 240 airports.

https://www.zerohedge.com/personal-finance/friday-airline-travel-sets-record-passenger-screenings-tsa