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(Bloomberg) -- The world’s first shipment of blue ammonia is on its way from Saudi Arabia to Japan, where it will be used in power stations to produce electricity without carbon emissions.Saudi Aramco, which made the announcement Sunday, produced the fuel, which it does by converting hydrocarbons into hydrogen and then ammonia, and capturing the carbon dioxide byproduct. Japan will receive 40 tons of blue ammonia in the first shipment, Aramco said.Ammonia can be burned in thermal power stations without releasing carbon emissions. That means it has “the potential to make a significant contribution to an affordable and reliable low-carbon energy future,” according to state-controlled Aramco.Japan aims to be a world-leader in the use of hydrogen, which is contained in ammonia. The country has committed to reducing its greenhouse gas emissions 26% by 2030 from 2013 levels, under the Paris climate pact.Blue ammonia is a feedstock for blue hydrogen, a version...
Johnson & Johnson said that Phase1/2 trial data showed that a single dose of its COVID-19 vaccine candidate, JNJ-78436735, induced a “strong” neutralizing antibody response in nearly all participants aged 18 years and older.Interim analysis from the ongoing Phase 1/2a clinical trial demonstrated that J&J’s (JNJ) vaccine candidate was generally well-tolerated. Immune responses were similar across the age groups studied, including older adults. J&J noted that the data are consistent with preclinical studies,which showed that a single dose of the vaccine prevented subsequent infection and provided complete protection in the lungs of non-human primates.The development of detectable antibodies was found in 99% of participants aged 18-55 years of age in the Phase 1/2 trial. The data showed that 98% of participants were positive for neutralizing antibodies against SARS-CoV-2 at day 29 post-vaccination. Immunogenicity data from participants aged 65 years of age and above were available for the first 15 participants, with...
The COVID-19 pandemic had a mixed impact on pharma companies so far. During nationwide lockdowns, some companies benefited from the stockpiling of certain drugs. While others lost out as a result of the postponement of elective procedures, reduced patient visits to physicians and a sales decline of certain vaccines and drugs. All this had an adverse impact on the top line of several pharma companies.There are many pharma and biotech firms that are not involved in the race of developing a COVID-19 treatment but are making considerable progress in several therapeutic areas. We will use TipRanks’ Stock Comparison tool to place Vertex Pharmaceuticals and Galapagos alongside each other to see which biotech stock has a more compelling investment story. Vertex Pharmaceuticals (VRTX)Vertex is considered the leader in the treatment of cystic fibrosis, a genetic disease that can severely affect lungs, pancreas and other organs. Vertex already had a strong presence in...
Ping An Insurance (Group) has raised its stake in struggling UK lender HSBC Holdings by picking up additional shares from the open market just as they slumped to the lowest in more than two decades amid loan losses and concerns over its business dealings.The Shenzhen-based insurer, the world's largest by market value, bought 10.8 million shares in the bank at an average price of HK$28.2859 per share, according to a September 25 filing. That works out to about HK$305.5 million (US$39.4 million) in outlay. The highest cost was HK$28.80 per share.The purchase, made through its investment management unit Ping An Asset Management, lifted its ownership to 8 per cent from 7.95 per cent. A separate filing on September 27 listed BlackRock Inc, the world's biggest asset manager, as holding a 7.14 per cent stake in the British banking group.Get the latest insights and analysis from our Global Impact newsletter on the...
Raytheon Technologies has been awarded a $212.8 million supply and maintenance services contract by the US Missile Defense Agency to the United Arab Emirates (UAE).As part of the Foreign Military Sale (FMS) contract, Raytheon Technologies (RTX) will provide 1 prime power unit, an air- and highway-transportable, trailer-mounted 1.3MW (megawatt) generator set, and 5 years of sustainment services for 2 Terminal High Altitude Area Defense Army/Navy Transportable radar surveillance and control-series 2 (AN/TPY-2) radars.The work will be performed in Massachusetts, and some support services will be provided in-country. The contract is Oct. 1, 2020, through Sept. 30, 2025. UAE FMS funds in the amount of $212.8 will be used to pay for the contract.The contract type will be a hybrid firm-fixed-price, cost-plus-incentive-fee, cost-plus-fixed-fee and cost-reimbursement contract.Shares in Raytheon have plunged 35% so far this year as the aerospace and defense conglomerate has been suffering from the coronavirus-led crisis in the aviation industry....
To sustain a rally in the deferred futures contracts, we’re going to have to see a series of average to lower builds and increasing LNG exports....
Shares of Caesars Entertainment (CZR) gained 7.9% on Friday after a report that the casino-entertainment company is interested in buying the UK-based gaming firm William Hill. According to the Bloomberg report, William Hill also received a takeover proposal from private equity firm Apollo Global Management.Caesars is already a partner of William Hills and the two companies are in discussions about merging some of their US operations. According to UK takeover rules, Caesars has until October 23 to either announce a firm intention to make an offer or walk away. (See CZR stock analysis on TipRanks).On September 25, J.P. Morgan analyst Daniel Politzer raised the stock’s price target to $63 (10.4% upside potential) from $55 and reiterated a Buy rating. Politzer sees improving regional trends and expects better growth prospects for sports betting companies over the next few months. The analyst also believes that Caesars will benefit from the legalization of sports betting in...
