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Friday, July 5, 2024

Castle Biosciences COO sells shares

 In a recent transaction on July 1st, Kristen M. Oelschlager, the Chief Operating Officer of Castle Biosciences Inc (NASDAQ:CSTL), a company specializing in medical laboratories, sold 2,793 shares of the company's common stock. The transaction was executed at varying prices ranging from $20.890 to $21.705, with a weighted-average sale price of $21.224 per share, culminating in a total sale value of $59,278.

This sale was conducted under a prearranged trading plan, known as a Rule 10b5-1 plan, which Oelschlager had adopted on March 15, 2024. Such plans allow company insiders to sell shares over a predetermined period of time, providing a defense against potential claims of insider trading.

Following the sale, Oelschlager's remaining stake in Castle Biosciences consists of 148,618 shares. It is important to note that this figure includes 1,109 shares that were acquired under the company's employee stock purchase plan on February 29, 2024

https://www.investing.com/news/company-news/castle-biosciences-coo-sells-shares-worth-over-59000-93CH-3507788

MediWound Reports Results, Company Update

  NexoBrid® interest surges; $5 million in Q1 2024 revenue, with $24 million forecast for the year

Manufacturing facility on target for completion by mid-2024

EscharEx® Phase III study to launch 2H 2024

Company set to join Russell 3000® Index


Conference call today, May 29 at 8:30am Eastern Time

MediWound management will host a conference call for investors on Wednesday, May 29, 2024, beginning at 8:30 a.m., Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the conference call by dialing 1-833-630-1956 (in the U.S.), 1-80-921-2373 (Israel), or 1-412-317-1837 (outside the U.S. & Israel). The call will be available via webcast by clicking HERE or on the Events & Presentations page of Company’s website.

https://www.globenewswire.com/news-release/2024/05/29/2889689/30505/en/MediWound-Reports-First-Quarter-2024-Financial-Results-and-Provides-Company-Update.html

OpenAI's internal AI details stolen in 2023 breach, NYT

 A hacker gained access to the internal messaging systems at OpenAI last year and stole details about the design of the company's artificial intelligence technologies, the New York Times reported on Thursday.

The hacker lifted details from discussions in an online forum where employees talked about OpenAI's latest technologies, the report said, citing two people familiar with the incident.

However, they did not get into the systems where OpenAI, the firm behind chatbot sensation ChatGPT, houses and builds its AI, the report added.

Microsoft Corp-backed OpenAI did not immediately respond to a Reuters request for comment.

OpenAI executives informed both employees at an all-hands meeting in April last year and the company's board about the breach, according to the report, but executives decided not to share the news publicly as no information about customers or partners had been stolen.

OpenAI executives did not consider the incident a national security threat, believing the hacker was a private individual with no known ties to a foreign government, the report said. The San Francisco-based company did not inform the federal law enforcement agencies about the breach, it added.

OpenAI in May said it had disrupted five covert influence operations that sought to use its AI models for "deceptive activity" across the internet, the latest to stir safety concerns about the potential misuse of the technology.

The Biden administration was poised to open up a new front in its effort to safeguard the U.S. AI technology from China and Russia with preliminary plans to place guardrails around the most advanced AI Models including ChatGPT, Reuters earlier reported, citing sources.

In May, 16 companies developing AI pledged at a global meeting to develop the technology safely at a time when regulators are scrambling to keep up with rapid innovation and emerging risks.

https://finance.yahoo.com/news/openais-internal-ai-details-stolen-014010247.html

'US sees 'breakthrough' in Israel-Hamas talks, senior official says'

 A "breakthrough" has been made in efforts to negotiate a framework agreement for a cease-fire deal between Israel and Hamas that might end months of fighting in Gaza and lead to the release of hostages, a senior Biden administration official said Thursday.

"We've had a breakthrough on a critical impasse," the official said on a media briefing call, attributing the development to a shift in Hamas' stance on a framework deal, which the official said was now "fully consistent" with the U.S.-drafted agreement passed by the United Nations Security Council last month.

"Now we’re on to the implementation steps," the official said.

If a deal is reached, it would bring an end to nearly nine months of fighting in Gaza, where local health officials say more than 38,000 people have been killed. It would also mean hostages — taken captive during Hamas' Oct. 7 terrorist attacks, in which 1,200 people were killed and around 250 others were kidnapped, according to Israeli officials — would be released.

A cease-fire agreement could also curb tensions at Israel's northern border with Lebanon as Israeli forces continue to trade fire with the Iran-backed militant group Hezbollah. The fighting there has sparked growing fears of a broader conflict.

President Joe Biden spoke earlier Thursday with Israeli Prime Minister Benjamin Netanyahu in a call that lasted about 30 minutes to discuss the details of the deal, the senior administration official said during the briefing.

They walked through the draft agreement on the call and discussed outstanding issues, most of which the senior official said related specifically to the “implementation of the agreement.”

The official said a response from Hamas received days ago through Qatari mediators allowed the process to move forward, with the militant group making a significant adjustment in its stance on the deal.

Asked what changed, a senior administration official told NBC News after the call that Israel's military operations over the past several weeks in Rafah, the city in southern Gaza that had previously been designated a safe zone, had put fresh pressure on Hamas.

Negotiations are now likely to take place in Qatar's capital, Doha, in the coming days, with a U.S. team already in place to help hammer out the details that have yet to be agreed upon, a senior administration official told NBC News after the briefing.

The first phase of the deal would mean an end to fighting and relief for civilians in Gaza in conjunction with the release of a number of hostages who remain held by Hamas, including all women, men over age 50 and those who are sick and injured.

Among those expected to be released would be Hersh Goldberg-Polin, who was taken hostage from the Supernova, or Nova, music festival. Polin suffered severe injuries in Hamas' attack, during which he lost part of an arm, a senior administration official told NBC News after the call.

Keith Siegel, the husband of Aviva Siegel, whom Hamas released in a landmark deal in November that freed dozens of hostages, would also be released, they said.

Biden and Netanyahu also discussed aspects of the second phase of the deal, which would be expected to bring about a permanent cease-fire and the release of all remaining living hostages and Israeli soldiers held in Gaza, journalists were told on the briefing call.

"The conversation was detailed, going through the text of the agreement, constructive and, we think, encouraging," the senior administration official said.

The official said Biden expects to discuss the latest developments on progress toward a deal with European partners during next week's NATO summit.

As negotiations between Israel and Hamas continue, talks were also underway to try to de-escalate tensions between Israel and Hezbollah, a senior administration official told NBC News.

The official said Israel was under significant pressure to reach a de-escalation deal amid mounting attacks from the Lebanese militant group.

But in Thursday's briefing, a senior administration official emphasized that any deal between Israel and Hamas was "not done until everything’s done."

"This is a, no pun intended, this is a big deal. And in every respect. And so we want to get it right," the official said. "It'll be tough and difficult, no question, but we're going to do everything we can to close this out."

https://www.yahoo.com/news/u-sees-promising-breakthrough-israel-013308520.html

'Le Pen Plan for Power Market ‘Frexit’ Worries France’s Neighbors'

 

  • National Rally wants to retake control of French power prices
  • Reducing cross border power flows may hurt energy security

Marine Le Pen’s energy plans risk throwing a spanner into the workings of Europe’s electricity market.

The National Rally’s proposals for tackling the high cost of living include policies that could disrupt power flows across national borders, weaken Europe’s biggest power supplier Electricite de France SA, and make the whole region’s energy supplies less secure, according to political and business leaders.

https://www.bloomberg.com/news/articles/2024-07-05/le-pen-plan-for-power-market-frexit-worries-france-s-neighbors

Belarus Joins So-Called "Anti-NATO" SCO

 On July 3, Belarus acceded to the Shanghai Cooperation Organization (SCO), a regional organization helmed by China and Russia, at its annual summit as a full member after officially applying in September 2022.

This move would increase the number of member states in the bloc to ten.

As Statista's Florian Zandt shows in the chart belowexpansion of the SCO has picked up over the past decade.

Infographic: Belarus to Join So-Called


While the number of member states stood at six from the founding of the SCO until 2017, the group admitted India and Pakistan in 2017. However, India's role in the SCO is questionable due to Prime Minister Narendra Modi seeking closer ties to the West and a long-held animosity between India and Pakistan, according to CNN reporting.

In 2023, Iran was awarded full membership in the SCO after becoming an observer in 2005 and launching an unsuccessful membership bid in 2008.

The SCO's predecessor, the so-called Shanghai Five, was founded in 1996. Back then it consisted of China, Russia, Kazakhstan, Kyrgyzstan and Tajikistan. On June 15, 2001, Uzbekistan joined and the alliance was renamed SCO. According to the official website of the group, its aims are "strengthening mutual confidence and good-neighbourly relations among the member countries; promoting effective cooperation [...]; making joint efforts to maintain and ensure peace, security and stability in the region".

The latter part, in particular, earned the SCO comparisons to NATO, although the SCO's joint activities are not limited to security. It's also different due to its member states are situated on one continent rather than spread across multiple geographic regions. As is often the case, SCO's member countries are part of a variety of other organizations like the Economic Cooperation Organization, the South Asian Association for Regional Cooperation or the Commonwealth of Independent States.

https://www.zerohedge.com/geopolitical/belarus-joins-so-called-anti-nato-sco

Saudi Arabia cuts Asia oil prices for second straight month

 Top oil exporter Saudi Arabia cut prices for all crude grades it sells to Asian customers for a second month in a row in August amid robust supply from countries outside OPEC and uncertainties over the demand outlook.

State-owned oil giant Saudi Arabian Oil Co., known as Aramco, set its official selling price for August loadings of its flagship Arab Light crude to Asia-its main market-at $1.80 a barrel over the Oman/Dubai average, from $2.40 a barrel in July. Prices for other lighter and heavier crude grades were also lowered.

Looking at other importing regions, the oil producer instead increased its August prices for all grades for customers in northwest Europe and the Mediterranean. In the U.S., Aramco raised the price for its Extra Light and Light grades by 10 cents versus the Argus Sour Crude Index and left prices for its Medium and Heavy grades unchanged.

Crude prices climbed to a two-month high this week, boosted by signs of a tightening market over the summer due to the extension of the Organization of the Petroleum Exporting countries and its allies' supply curbs and expectations of strong demand during the traveling season.

Prices are also gaining support from escalating geopolitical risks in the Middle East and Eastern Europe, as well as renewed hopes for a September rate cut by the U.S. central bank. At 1600 GMT, Brent crude (BRN00) trades 0.2% higher at $87.50 a barrel and WTI (CL.1)rises 0.1% to $83.94 a barrel.

https://www.morningstar.com/news/marketwatch/202407052/saudi-arabia-cuts-asia-oil-prices-for-second-straight-month