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HONG KONG/LONDON (REUTERS) - Shares in HSBC and Standard Chartered fell on Monday (Sept 21) to their lowest in over two decadesafter media reports that they and other banks, including Barclays and Deutsche Bank, moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

The BuzzFeed and other media articles were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasurys Financial Crimes Enforcement Network (FinCEN).

HSBCs Hong Kong shares on Monday slid 5.3 per cent to close at HK$29.60, reaching their lowest since 1995. The stock has nowhalved since the start of the year. In London, HSBC shares fell as much as 3.6 per cent in the morning compared with the 1.7 per cent decline in the benchmark FTSE 100 Index.

StanChart closed down 6.2 per cent to HK$34.90 in Hong Kong, a 22-year low. Its London shares dropped as much as 3.6 per cent, against the backdrop of a broader selloff in the market with the STOXX European banks index, down 4 per cent.

More than 2,100 SARs, which are in themselves not necessarily proof of wrongdoing, were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ) and other media organisations.

In a statement to Reuters on Sunday, HSBC said all of the information provided by the ICIJ is historical. The bank said that as of 2012 it had embarked on a multi-year journey to overhaul its ability to combat financial crime.

StanChart said in a statement it took its responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programmes.

Barclays said it believes it has complied with all its legal and regulatory obligations, including in relation to US sanctions.

The most number of SARS in the cache related to Deutsche Bank, whose shares fell 5.2 per cent on Monday. In a statement on Sunday, Deutsche Bank said the ICIJ had reported on a number of historic issues.

We have devoted significant resources to strengthening our controls and we are very focused on meeting our responsibilities and obligations, a spokesperson for the bank said.

London-headquartered HSBC and StanChart, among other global banks, have paid billions of dollars in fines in recent years for violating US sanctions on Iran and anti-money laundering rules.

The media reports come at a tough time for HSBC and StanChart, both of which make the bulk of their profits in Asia, and are reeling from the impact of the COVID-19 pandemic, US-China tensions, and political uncertainty in Hong Kong.

The files contained information about more than US$2 trillion (S$2.7 trillion) worth of transactions between 1999 and 2017, which were flagged by internal compliance departments of financial institutions as suspicious.

The ICIJ reported the leaked documents were a tiny fraction of the reports filed with FinCEN. HSBC and StanChart were among the five banks that appeared most often in the documents, the ICIJ reported.

The SARs showed that banks often moved funds for companies that were registered in offshore havens, such as the British Virgin Islands, and did not know the ultimate owner of the account, the report said.

Staff at major banks often used Google searches to learn who was behind large transactions, it said.

In some cases the banks kept moving illicit funds even after US officials warned them they could face criminal prosecutions if they continued to do business with criminals or corrupt regimes, it said.

Global banks in the recent years have boosted investments on technology and staff to deal with tighter anti-money laundering and sanctions regulatory requirements across the world.

Thousands of clients were booted out of bank accounts in major wealth hubs including Hong Kong and Singapore after a money laundering scandal in Malaysia, the Panama Papers expose, and a global push for tax transparency.

FinCEN said in a statement on its website on Sept 1 that it was aware that various media outlets intended to publish a series of articles based on unlawfully disclosed SARs, as well as other documents.

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HSBC, StanChart shares fall to over 20-year lows after 'FinCEN' leak reports - The Straits Times

Supercars looking to improve fan experience Photo: InSyde Media

Supercars is looking for a new digital media partner to expand its online presence and provide more free content to fans.

By MARK FOGARTY

A tender document calling for submissions for proposals for a Supercars Digital Transformation has been issued.

It is the latest request for a bid for a supply contract, following guidelines issued for Gen3 control pedal box, brakes, wheels and fuel system deals.

The plan is to upgrade Supercars digital and social media outlets to better service fans with more live and around-the-clock coverage via online platforms.

Supercars ambition is to be a part of every Australian household, the tender document preamble begins.

It adds: Key strategic pillars for the business moving forward include ensuring the longevity of the sport, developing an always-on media strategy, optimising the event calendar, further enhancing the at-event experience and increasing our digital footprint.

Supercars says more fan engagement is the aim.

The sports broadcasting landscape is in a time of flux. What we are witnessing is digital and technology platforms enabling a complete reinvention in the way fans consume and engage with the action and their sporting heroes.

In a highly competitive sporting and entertainment landscape, Supercars vision is to deliver seamless and engaging digital experiences that keep up with emerging technologies and platforms, builds the footprint of the sport and maximises commercial opportunities.

Our approach to digital will always be about the fan experience whether we are using new technologies to augment the trackside experience or connecting as many people to the live-action in the most immersive way as possible.

The tender document comprehensively outlines the requirements for the hosting of a redesigned web site and an enhanced mobile app, as well as greater data capture.

Supercars also wants to explore the option of integrating a COVID-19 tracking capability in the app, which would complement traditional broadcasts and help drive tune in.

Another major aim of the digital revamp is to more effectively commercialise the big audiences of Supercars web site, app and social media channels that is, attract more advertising and sponsorship.

It appears Supercars is looking to outsource its digital product, most of which is now created in-house by a small team, from February next year.

The existing supercars.com website was launched in 2015 and the Supercars mobile app has been running since 2017.

For more of the latest Supercars newspick up thecurrent issue of Auto Action. Also make sure you follow us on social mediaFacebook,Twitter,Instagramor ourweekly email newsletterfor all the latest updates between issues.

Date posted: September 22, 2020

Originally posted here:
SUPERCARS LOOKING TO IMPROVE FAN EXPERIENCE - Auto Action

The Korea Hearald/ANNA Seoul woman in her 20s tested positive for the novel coronavirus for a second time in April after she was declared recovered approximately a week earlier, Korean health authorities said Monday.

Jung Eun-kyeong, chief of the Korea Disease Control and Prevention Agency, said in a news briefing that the young patient had a second episode of COVID-19 about six days after two consecutive RT-PCR assays showed she was negative.

The investigation on this case is not yet complete to conclude that this counts as a reinfection, she said.

The national disease control agencys deputy chief Kwon Jun-wook said in a Monday briefing that the Seoul womans case is suspected to be successive infections with two variants of the virus -- namely, the clades V and GH.

Another potential explanation is that she may have contracted the virus before she was able to develop an immune response, Kwon said. In both episodes of infection, she experienced mild symptoms, such as cough and sputum.

At least 705 people have tested positive a second time after recovering since February, none of whom officially qualify as a reinfection according to health authorities.

The clinical committee for emerging infectious diseases within the National Medical Center said in an April press conference that the second positive cases here were the result of the assays responding to inactive viral particles.

Infectious disease expert Dr. Kim Woo-joo of Korea University Medical Center in Guro, southern Seoul, said, As different clades circulate, rapid reinfections may be possible."

Kim said the possibility of repeated infections means that COVID-19 may have "become endemic much like the flu." But good news is that so far, the new coronavirus seems to mutate at a slower rate than the influenza.

A close follow-up on former patients who are experiencing a relapse in symptoms is needed to help us gain better insight, he said.

Pulmonologist Dr. Chun Eun-mi of central Seouls Ewha Womans University Medical Center said as the virus mutates it may become less virulent.

Coinfections, second infections are witnessed in other viral respiratory illnesses like the cold, she said. Except with COVID-19, its much more contagious.

The worlds first proven case of reinfection was reported in Hong Kong last month. The 33-year-old man also suffered mild symptoms both times.

Meanwhile, the proportion of untraceable infections among those recently confirmed keeps setting new records.

For 28.8 percent of Seoul patients diagnosed Sept. 13-19, the point of transmission was unknown -- marking the highest since the disease appeared in the country. Since mid-August, the rate has consistently remained above 20 percent.

Preventive medicine specialist Dr. Ki Mo-ran of the National Cancer Center said the contact tracing failures may be attributable to the higher number of older patients being discovered in the lingering resurgence from last month.

Contact tracing relies heavily on technologies such as smartphone data and credit card records. This may not work well for older patients who tend to be less digitally connected, she said.

Ki said as contact tracing efforts fall short, there could be several dozens of people who are going undiagnosed. We are walking on thin ice here, she said. The numbers have to be brought down to manageable levels with strict physical distancing.

Health authorities said there will be special physical distancing restrictions put in place for the upcoming Chuseok holiday, falling Sept. 30-Oct. 4, the details of which will be disclosed later in the week.

Korea confirmed 70 more cases of the coronavirus in the last 24 hours ending Sunday midnight, pushing the cumulative total to 23,045.

Two more patients died. So far, there have been 385 known deaths related to COVID-19, which brings the overall fatality rate to 1.67 percent. For those over 80, the rate is 20.6 percent.

As of Sunday, 91 percent of the countrys 517 intensive care beds were full, leaving only 46 available. At designated coronavirus hospitals, whose combined bed capacity is 4,120, the occupancy rate was 32.5 percent.

The number of recoveries reached 20,248, up 90 from a day prior, bringing the recovery rate to 87.8 percent.

In late June, the bar for discharging patients was adjusted to allow patients who remain free of symptoms for 10 days in a row after diagnosis to be released from isolation. Previously, two negative results on RT-PCR tests with at least a 24-hour interval were required to be deemed recovered.

Korea has carried out 2,206,365 tests since Jan. 3. This translates to around 43,518 tests performed per million people. Of all tests taken, around 1 percent yielded positive results.

By Kim Arin ([emailprotected])

Original post:
Possible case of COVID-19 reinfection reported in Korea - Eleven Myanmar

Bagsvrd, Denmark, 22 September 2020 Today, Novo Nordisk announced results from three phase 2 clinical trials for insulin icodec, an investigational once-weekly basal insulin analogue, which were presented during the 56th European Association for the Study of Diabetes (EASD) Annual Meeting 2020.

The first showed that switching to insulin icodec from other basal insulins using two different switch approaches was efficacious and well-tolerated compared to once-daily insulin glargine U100 and the switching approaches were without an increased risk of clinically significant or severe hypoglycaemic episodes compared to once-daily insulin glargine U100.1 This 16-week phase 2 clinical trial involved 154 adults with type 2 diabetes inadequately controlled with oral antidiabetic drugs and once/twice-daily basal insulin randomised to once-weekly insulin icodec with or without a loading dose or insulin glargine U100.1,2 The primary endpoint of the trial, the blood sugar time in range 3.910.0 mmol/L during weeks 15 and 16, showed that people receiving insulin icodec with a loading dose demonstrated a significantly greater time in range compared to insulin glargine U100 (73% vs 65%, respectively). People who received insulin icodec without a loading dose demonstrated similar blood sugar time in range compared to insulin glargine U100 (66% vs 65%, respectively).1

We know that many people with type 2 diabetes prefer simplicity, meaning fewer injections and more convenience than what is currently provided with once- or twice-daily basal insulin treatment regimens, said Dr Harpreet Bajaj, lead trial investigator and endocrinologist, LMC Diabetes & Endocrinology, Ontario, Canada. This phase 2 trial demonstrates the potential benefit insulin icodec could offer to people with type 2 diabetes in need of insulin therapy, aiding easy transition onto a new treatment option without the daily burden and complexity that is associated with current therapies and potentially even experience more time in good glycaemic control with low risk of hypoglycaemia.

Key secondary endpoints included changes from baseline in HbA1c, which were not statistically significantly different for icodec with and without a loading dose compared to insulin glargine U100 (0.77, 0.47 and 0.54 % points, respectively). Rates of clinically significant or severe hypoglycaemic episodes, also known as a hypo or low blood sugar, were similar between insulin icodec with a loading dose and insulin glargine U100 (observed rates of level 2 [<3mmol/L] and 3 [severe] hypoglycaemia were 0.78 and 0.79 events per patient year of exposure for insulin icodec and insulin glargine U100, respectively), and numerically lower for insulin icodec without a loading dose (0.15 events per patient year of exposure). No new safety issues were identified in relation to once-weekly insulin icodec and no severe episodes occurred in this trial.1

Data comparing the effect of different titration algorithms of insulin icodec with insulin glargine U100 to better understand the optimal titration for a once-weekly basal insulin in people with type 2 diabetes who were inadequately controlled with oral antidiabetics were also presented at the meeting. In this 16-week trial, all three once-weekly titration algorithms for insulin icodec investigated were shown to be well-tolerated and efficacious, and demonstrated an improved or similar time in range versus once-daily insulin glargine U100, depending on the titration algorithm applied.3,4

Results from the 26-week phase 2 clinical trial in insulin-nave adults with type 2 diabetes where insulin icodec demonstrated comparable blood sugar lowering and a similar safety profile to once-daily insulin glargine U100 were also presented at the EASD Annual Meeting and simultaneously published in the New England Journal of Medicine.5,6 The data were previously presented at the 80th Scientific Sessions of the American Diabetes Association in June 2020.7

As a leader in diabetes innovation, Novo Nordisk understands that there is a need to continue to offer innovative treatment options to support people living with diabetes and improve outcomes, said Mads Krogsgaard Thomsen, executive vice president and chief scientific officer of Novo Nordisk. We are excited by the phase 2 data that have been presented at EASD 2020 and ADA 2020 for insulin icodec, which demonstrated its efficacy and tolerability, and has the potential to offer a simplified treatment option for people with type 2 diabetes initiating insulin treatment, as well as the option for those to switch.

The phase 2 trials will inform the trial designs for the phase 3 clinical development programme for once-weekly insulin icodec, which Novo Nordisk will initiate later in 2020.

For more news and media materials from Novo Nordisk at EASD 2020, please visit: https://www.epresspack.net/novonordiskEASD2020/phase-2-once-weekly-insulin

About the phase 2 switching trial

This 16-week, randomised, open label, treat-to-target, phase 2 trial compared the efficacy and safety of once-weekly insulin icodec with and without a loading dose versus once-daily insulin glargine U100* in 154 people with type 2 diabetes inadequately controlled (HbA1c 7.010.0%) with oral antidiabetic drugs and once/twice-daily insulin. A unit to unit switch (or a 20% reduction for those receiving twice-daily basal insulin or insulin glargine U300 prior to randomisation) with and without an initial 100% loading dose of insulin icodec was investigated compared to insulin glargine U100. Insulin doses were titrated weekly based on the lowest (if below target) or the mean of 3 pre-breakfast self-measured blood glucose values to a target of 4.47.2 mmol/L. The primary endpoint was time in range 3.910.0 mmol/L (70180 mg/dL) based on continuous glucose monitoring (Dexcom G6, Dexcom Inc, CA, USA) during weeks 15 and 16. Secondary endpoints included HbA1c and body weight changes from baseline to week16, weekly insulin dose during weeks 15 and 16, and hypoglycaemic episodes.1,2

About insulin icodec

Insulin icodec is an investigational, long-acting basal insulin analogue with a half-life of approximately one week.8 Once injected, insulin icodec binds strongly but reversibly to albumin. This results in a continuous, slow and steady release of active icodec to achieve effective lowering of blood sugar throughout the week. The injection volume of once-weekly insulin icodec is equivalent to daily insulin glargine U100 due to the concentrated formulation.9

About Novo NordiskNovo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 43,500 people in 80 countries and markets its products in around 170 countries. For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.

Further information

_______________________

*NCT03922750: A Research Study in People With Type 2 Diabetes to Compare Two Types of Insulin: Insulin 287 and Insulin Glargine

References

1. Bajaj HS, Isendahl J, Gowda A, et al. Efficacy and Safety of Switching to Insulin Icodec, a Once-Weekly Basal Insulin, vs Insulin Glargine U100 in Patients with T2D Inadequately Controlled on OADs and Basal Insulin. Abstract 657. Presented at the 56th European Association for the Study of Diabetes (EASD) Annual Meeting 2020, The impact of new basal insulins, 12:00-13:00 CEST on 22 September 2020.2. ClinicalTrials.gov. A Research Study in People With Type 2 Diabetes to Compare Two Types of Insulin: Insulin 287 and Insulin Glargine. Available at: https://clinicaltrials.gov/ct2/show/NCT03922750. Last accessed: September 2020.3. Lingvay I, Koefoed MM, Stachlewska K, et al. Effect of Three Different Titration Algorithms of Insulin Icodec vs Insulin Glargine U100 on Time in Range in Patients with T2D Inadequately Controlled on OADs. Abstract 658. Presented at the virtual 56th European Association for the Study of Diabetes (EASD) Annual Meeting 2020, The impact of new basal insulins, 12:00-13:00 CEST on 22 September 2020.4. ClinicalTrials.gov. A Research Study to Compare Two Types of Insulin: Insulin 287 and Insulin Glargine in People With Type 2 Diabetes Who Have Not Used Insulin Before. Available at: https://clinicaltrials.gov/ct2/show/NCT03951805. Last accessed: September 2020.5. Rosenstock J, Kjrsgaard MIS, Mller DV, et al. Once-Weekly Basal Insulin Icodec Offers Comparable Efficacy and Safety vs Once-Daily Insulin Glargine U100 in Insulin Nave Patients with T2D Inadequately Controlled on OADs. Abstract 56. Presented at the virtual 56th European Association for the Study of Diabetes Annual Meeting 2020, Developing better insulins, 14:45-15:00 CEST on 22 September 2020.6. Rosenstock J, Bajaj HS, Janez A, et al. Once-Weekly Insulin for Type 2 Diabetes Without Previous Insulin Treatment. New England Journal of Medicine. 2020; Published online ahead of print; DOI: 10.1056/NEJMoa2022474. Available at: https://www.nejm.org/doi/full/10.1056/NEJMoa2022474.7. Rosenstock J, Kjrsgaard MIS, Mller DV, et al. Once-Weekly Basal Insulin Icodec Offers Comparable Efficacy and Safety vs Once-Daily Insulin Glargine U100 in Insulin Nave Patients with T2D Inadequately Controlled on OADs. Abstract 238-OR. Presented at the 80th Scientific Sessions of the Virtual American Diabetes Association Annual Meeting, Insulin Therapies, 18:15-18:30 CDT on 14 June 2020.8. Hvelmann U, Brndsted L, Kristensen NR. et al. Insulin Icodec: An Insulin Analog Suited for Once-Weekly Dosing in Type 2 Diabetes. Abstract 237-OR. Presented at the 80th Scientific Sessions of the American Diabetes Association, Insulin Therapies, 18:00-18:15 CDT on 14 June 2020.9. Nishimura E, Kjeldsen T, Hublek F, et al. Molecular and Biological Properties of Insulin Icodec, a New Insulin Analog Designed to Give a Long Half-Life Suitable for Once-Weekly Dosing. Abstract 236-OR. 80th Scientific Sessions of the American Diabetes Association; Insulin Therapies, 17:45-18:00 CDT on 14 June 2020.

Excerpt from:
Switching to investigational once-weekly insulin icodec from other basal insulins demonstrated to be efficacious and well-tolerated for people with...

OTTAWA, Sept. 22, 2020 (GLOBE NEWSWIRE) -- NAV CANADA today made the difficult decision to eliminate permanent jobs as the COVID-19 pandemic continues to have a significant negative impact on global air traffic and on the aviation industry. To adapt to the new realities of air traffic levels, the company is also taking steps to safely streamline operations and will be launching level of service reviews for certain aerodromes.

Prior to the COVID-19 pandemic, the company had 5,100 employees nationwide. Including the previous reduction in staffing of temporary employees in the spring and early retirements, the company has reduced more than 720 jobs or 14 per cent of the workforce. NAV CANADA will continue to monitor air traffic activity across the country and adapt its operations and workforce accordingly as necessary.

Undoubtedly, the company is in the midst of the toughest moment in its history. NAV CANADA is not immune to the economic downturn and severe financial impacts the aviation industry is experiencing, said Neil Wilson, President and CEO.

Cost containment strategies commenced as soon as the pandemic was declared. Prior to todays layoffs, NAV CANADA reduced management compensation, deferred retroactive wage increases with bargaining units and offered a voluntary retirement program to minimize cash outflows. NAV CANADA has also benefited from the Canadian Emergency Wage Subsidy program.

NAV CANADA is working closely with labour unions to adapt the size of its workforce in response to the persisting low air traffic levels. The cuts are across all departments and include most of the current cohort of operational students.

The company will also close its flight information centres in Winnipeg and Halifax. Pilots and dispatchers will continue to receive the same vital information they need, including flight-planning services, in-depth interpretive weather information and en-route flight information, which will be provided by the remaining flight information centres. Air traffic services will not be impacted by this change.

NAV CANADA must continue to fulfill its commitment to efficiently run Canadas air navigation system, ensuring that the services supplied align with market demands. In the coming weeks, aeronautical studies will be launched for multiple aerodromes to assess the level of service required to provide safe and efficient operations for our airline, air cargo and general aviation customers.

Aeronautical studies apply a safety-focused and Transport Canada regulated process, which NAV CANADA has followed in support of its globally recognized safety record for more than 20 years. This rigorous, systematic approach provides for full consultation with all affected stakeholders, with the key factor being safety.

The aviation industry is contracting and faces profound changes. We continue to monitor the impact of the pandemic and will continue to take steps as they are necessary to align service with traffic levels while maintaining the integrity of the air navigation system, said Neil Wilson, President and CEO.

Todays changes will not have any operational impact on the safe delivery of air navigation services across the country.

Quick Facts

About NAV CANADA

NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.

The Company is internationally recognized for its safety record, and technology innovation. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

For further information, please contact:

Brian BoudreauManager, Media Relations

media@navcanada.caMedia Information Line: 1-888-562-8226

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NAV CANADA announces workforce reductions and looks to streamline operations - GlobeNewswire