– The major U.S. index futures are pointing to a lower open on Wednesday, with sentiment shaky despite the fairly positive outcome for a 5-year bond auction by Germany. The overbought levels of the markets may prompt traders to either take some profit or stay on the sidelines ahead of some key data/events scheduled for the next two days.
Following Germany’s footsteps, Italy and Spain are also scheduled to auction bonds. China is set to release its consumer price inflation report for December tomorrow and the U.S. Commerce Department is scheduled to release the retail sales report for December, while the European Central Bank and the Bank of England will announce their interest rates- all key market moving events that have some implication for the global economy. U.S. stocks advanced to 5-month highs on Tuesday, capitalizing on a buoyant aluminum demand forecast issued by Alcoa (AA). The earnings optimism and a recent string of positive domestic data kept eurozone debt fears at bay.
The major U.S. averages opened higher and moved sideways until the afternoon.
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Pharmalink AB, today announces it has raised SEK 35 million through a rights issue of new shares to the Company’s existing shareholders, including Industrifonden.
The new funds will be used to further advance Nefecon® and Busulipo™, Pharmalink’s two lead product candidates. Nefecon is the first pharmaceutical product especially developed for patients with IgA nephropathy, the most common form of primary glomerulonephritis and a cause of end-stage renal disease requiring treatment with dialysis or transplantation. Nefecon has shown positive results in an open-labeled Phase II trial evaluating safety and efficacy and Pharmalink is currently focusing on preparing pivotal clinical trials.
Busulipo is being developed to provide a best-in-class conditioning agent for use priorto hematopoietic stem cell transplantation (HSCT), also often known as bone marrow transplantation. Busulipo has successfully undergone Phase II clinical trials and extensive data on efficacy, safety and pharmacokinetics compare positively with historical controls. Ph
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Dead men may “tell no tales,” but they can sue. Or, at least, people can sue on their behalf. In Illinois, this can be done in two different ways:
1. Via the Illinois Probate Act, which (in Section 27-6) sets forth “[a]ctions which survive” death. The two biggies listed are:
a. actions to recover damages for an injury to the person (except slander and libel) — this might be things like medical expenses, or compensation for pain and suffering (or for lost wages); and
b. actions to recover damages for an injury to property.
These types of actions are brought by the personal representative of the estate, for the benefit of the estate. In other words, moneys collected pass to the beneficiaries under the decedent’s Will (or if the decedent died without a Will, to the decedent’s “heirs” as determined under the Probate Act).
2. Via the Wrongful Death Act (found at 740 ILCS 180). A wrongful death action can be brought “[w]henever the death of a person shall be caused by wrongful act, neglect or default.” A wrongful death action is also brought by the personal representative of the estate, but unlike an action under the Illinois Probate Act, “the amount recovered in every such action shall be for the exclusive benefit of the surviving spouse and next of kin of such deceased person.”
What does “next of kin” mean here? Basically, the
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– The major U.S. index futures are pointing to a lower opening on Thursday, with sentiment turning apprehensive after yesterday’s policy response sparked a strong rally. Even as recent domestic data has been encouraging, traders are skeptical of the sustainability of the economic momentum and see these only as a blip in the radar. Retail sales reported by chain stores have cemented expectations for a healthy holiday selling season.
An economic report released earlier in the day showed that jobless claims unexpectedly rose, although remaining below the 400,000 level. Traders now turn their attention to the manufacturing report to be released shortly after the markets open and may also be nervous about Friday’s non-farm payrolls report.
U.S. stocks advanced solidly on Wednesday, encouraged by coordinated central bank actions announced by the Federal Reserve along with some compatriot central banks and some positive domestic economic data. The major averages opened notably higher and rose sharply in early trading.
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China Medical Technologies, Inc. (the “Company”) (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic (“IVD”) company, announced its unaudited financial results for the second fiscal quarter ended September 30, 2011 (“2Q FY2011″) today.
“We are pleased to receive SFDA approval on our second PCR-based companion diagnostic assay on KRAS mutation for colorectal cancer targeted drug. We see huge potential on personalized medicine for cancer patients in China and will continue to develop this market segment.” commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company.
2Q FY2011 Unaudited Financial Results
The Company reported net revenues of RMB238.5 million (US$37.4 million) for 2Q FY2011, representing an 18.1% increase from the corresponding period of FY2010.
The Company’s revenues are currently generated from two segments, molecular diagnostic systems and immunodiagnostic systems. The molecular diagnostic system segment mainly includes FISH products and SPR products while the immunodiagnostic system segment consists of ECLIA products.
Molecular diagnostic system sales for 2Q FY2011 were RMB164.0 million (US$25.7 million), representing a 38.5% increase from the corresponding period of FY2010.
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The UK division of international broker-dealer MF Global has collapsed into administration, leaving more than 700 staff at Londons Canary Wharf facing possible redundancy.
Parent company MF Global, a broker of commodities and derivative futures products, has filed for Chapter 11 bankruptcy protection in New York, meaning its UK arm will cease operating.
Meanwhile, MF Global Holdings Ltd. local operation in the United Kingdom has been placed into a special administration program as regulators moved to protect financial stability after the broker-dealer’s USA bankruptcy filing. The administrative regime will allow for the swift return of client assets, the Financial Services Authority said in the statement. MF Globals European business lines in London consist of stock broking in commodities, fixed income, currency trading and shares dealing. S
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