The biotech scorecard for the second quarter: 18 stock-moving events to watch

first_img STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. The biotech scorecard for the second quarter: 18 stock-moving events to watch [email protected] About the Author Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. @adamfeuerstein Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Log In | Learn More What is it? Introducing the return of STAT’s Biotech Scorecard, our quarterly ledger of stock-moving biotech events.We were prepared to let the scorecard die a natural death at the end of 2018, but then we heard from die-hard fans (and STAT Plus subscribers) asking for its return. We listen to our customers, so the scorecard is reborn.center_img Ryan Pierse/Getty Images GET STARTED By Adam Feuerstein April 4, 2019 Reprints Adam Feuerstein Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. Biotech What’s included? Tags biotechnologySTAT+last_img read more

Hwang: Military Lacks Foundations to Take Power

first_img Hwang Jang Yop, the President of the Committee for the Democratization of North Korea, is of the opinion that the North Korean military will never take power after Kim Jong Il’s incapacitation because the political foundation does not exist in North Korea’s military circles. Hwang said at an informal gathering with university students in Seoul on the 16th, “Whether the military or the Party will seize power [after Kim Jong Il’s death] remains to be seen, but the North Korean military only knows strategies for battle and does not know politics. The reason for North Korea to continuously emphasize the military is to threaten South Korea and the North Korean people, not to strengthen the military’s political role.”He added, “When Kim Jong Il goes to onsite inspections, he is not accompanied by members of the political elite with actual influence. He is only choosing the retinue for the inspection according to how deeply loyal they are to himself. It bears no relations to how many stars (badge of rank) they are wearing.”He said regarding the possibility of a military coup if something were to happen to Kim Jong Il, “In order to carry out a coup, significant political foundations are required and as long as organizations of the Party are parts of the military structure, a revolt will be difficult. In some countries where politics are not developed and not well-systematized, the military can seize power, but currently in North Korea, it is difficult to find military figures with much power.”Hwang cited the example of the “Sixth Army Corps coup d’etat” which occurred in 1995, explaining, “The masterminds of the coup were gathered in an auditorium and all executed. The person who executed this was Kim Young Choon, the Vice-Chairman of the National Defense Commission, but the political manager behind Kim Young Choon was Jang Sung Taek, Kim Jong Il’s brother-in-law. This is a clear instance demonstrating that the executive operator and the political manager with true responsibility for given actions are different individuals.”Further, he pointed out, “The military also previously operated the system by which the Army Chief of Staff and the Director of General Political Department of the Army reported to the Defense Security Command of the Army. But it is now difficult for these three figures to gather their strength for a military coup, because Kim Jong Il reorganized the reporting system for these three military officials so as to report every issue directly to Kim Jong Il.” Hwang emphasized in particular, “One must have political influence to seize power in an environment such as North Korea’s. Even in the Guidance Department of the Central Committee of the Party, whoever has the greater political backing and power among the First-Vice Directors will be selected as the power holder.” Regarding the succession in the North, Hwang noted, “If Kim Jong Nam, who has support from China, seizes power, opening and reform will be more feasible, but the Supreme Leadership System will be left as it is. This is unlikely to be opening and reform in the Chinese way. However, South Korea must observe the situation and establish a responsive strategy.”On China’s role in the case of an emergency situation in North Korea, he explained, “If chaos results in North Korea and the U.S.-ROK joint forces enter the country, China will not keep silent. If confusion results in the North due to the succession, China will not be able to officially intervene, but will still have strength to control Pyongyang beyond watching eyes.” Hwang expressed, “However, getting worked up about an emergency state of affairs in the North is unnecessary. As long as China, who has a degree of understanding with North Korea, supports the country, the likelihood of significant confusion is small.” Moreover, he said, “Kim Jong Il naturally passing away is an inevitable event and North Korea has been preparing for this for a long time. From this perspective, Kim Jong Il’s death is a normal event and cannot be viewed as an ’emergency.’” AvatarYang Jung A News News Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak SHARE News By Yang Jung A – 2008.09.17 5:44pm center_img Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR There are signs that North Korea is running into serious difficulties with its corn harvest News Hwang: Military Lacks Foundations to Take Power North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

Advisors can play crucial role in ensuring clients have emergency savings

first_img Related news Share this article and your comments with peers on social media Budget proposal aims to help low-income earners access advice Assante offering free advice to those hit by crisis However, the survey found that less than one-quarter (24%) of Canadian homeowners have more than $5,000 set aside for an emergency and half of survey participants say they either have $1,000 or less or are just simply unaware of how much they have set aside for emergencies. See also: Slideshow: Financial shocks leave families vulnerable Both homeowners who work with an advisor and those who do not were surveyed, with the latter making up 44% of respondents. Those who work with an advisor were found to be in better financial shape, with only 17% having increased their debt in the past year compared with 22% those who are not working with a financial professional. Four-fifths of respondents with an advisor indicated they feel somewhat or very prepared to deal with an unexpected expense as opposed to 65% of those without an advisor. Specifically, those with an advisor have more “rainy day” savings, with a median of $4,500, than those without an advisor, who have median savings $2,000. The interesting factor within this comparison is that respondents in both groups had the same median level of income ($85,000), notes Rick Lunny, president and CEO, Manulife Bank, in a statement. “It’s very difficult for people to individually have the knowledge and self-discipline to manage their debt, get out of debt or be prepared for unexpected expenses,” he explains, “but if they have the discipline to have a financial advisor, you can see that coming through in both their confidence and their ability to weather these unexpected expenses.” The survey also asked those who had difficulty paying for an unexpected expense over the past 12 months how they resolved the situation. One-third (33%) accessed a line of credit, 32% carried a balance on a high-interest credit card, 23% had some emergency savings set aside, and 14% borrowed money from a family member. Other options included withdrawing money from an RRSP (5%), selling investments (5%) and accessing money through a payday lender (4%). It’s poor financial planning when Canadians are cashing in investments when there are better options available, says Lunny. This is another area in which advisors can provide expertise on those choices. Canadians were also asked about their mortgage debt. Almost three-quarters (71%) of respondents have a mortgage, with the average mortgage debt landing at $175,000. Regionally, Albertans reported the highest average mortgage debt, at $238,000, and British Columbians came in second, at $228,000. Environics Research conducted an online survey of 2,372 homeowners between the ages of 20 and 59 with a household income of $50,000 or more across Canada from July 22 to Aug. 7 on behalf of Manulife Bank. Tessie Sanci Bespoke advice becoming more important in changing industry The importance of having emergency savings is a conversation that financial advisors need to consider having with their homeowner clients, especially as a report from Toronto-based Manulife Bank of Canada released on Thursday shows that advisors play a pivotal role in ensuring these clients are ready for unexpected expenses. The report, based on Manulife Bank’s bi-annual debt survey, reveals that 38% Canadian homeowners have experienced a situation in which they did not have enough money to cover their housing expenses even though 73% believe they’re somewhat or completely prepared to deal with an unexpected expense. Keywords Value of advice Facebook LinkedIn Twitterlast_img read more

PI Financial bought by joint venture

first_img Related news James Langton The terms of the transaction, which remain subject to regulatory approval, were not announced.Following the deal, PI will continue to be run by its existing management team “with no changes to the firm’s investment personnel, day-to-day operations, capital or client accounts,” the firm said in a statement.“We fully support the PI executive leadership team, their strategy and their talented teams of financial advisors and capital markets professionals,” said John Yeager, managing director of H.I.G. Capital, in the statement.Jean-Paul Bachellerie, CEO of PI, said, “We expect the ownership transition to be seamless for our team and our clients, and we look forward to building on our momentum with the support of our new owners.” Ontario task force looks to boost industry competition Share this article and your comments with peers on social media Downtown Vancouver, BC with bridge over harbour mfron/123RF Leede Jones Gable launches capital markets business Facebook LinkedIn Twitter Vancouver-based brokerage PI Financial Corp. is being acquired by a pair of investment firms, H.I.G. Capital and RCM Capital Management.PI, which was acquired from the firm’s employees in 2018 by NG Holdings Canada Ltd., is being sold to a joint venture controlled by H.I.G. Capital, a Miami-based private equity firm, and RCM Capital Management, a Vancouver-based asset manager. Investment firm Raymond James Ltd. acquires Oak Trust Co. Keywords Investment dealersCompanies PI Financial Corp. last_img read more

Now is time to rethink work in Aotearoa: Otago report

first_imgNow is time to rethink work in Aotearoa: Otago report The impact artificial intelligence will have on work and jobs in Aotearoa New Zealand may be hard to predict, but a University of Otago report provides a promising way to adapt – shorten the work week.The Impact of Artificial Intelligence on Jobs and Work in New Zealand report, released today, highlights the uncertainty around whether workers will be enabled by the technology, or displaced.Professor James Maclaurin.Co-author Professor James Maclaurin says enabling AI operates alongside human workers, increasing efficiency, productivity and potentially incomes. Displacing AI pushes workers into low paid work with technology taking on high value tasks.“The key question is whether New Zealand will successfully deploy AI, ultimately increasing our GDP, or will more and more of the profits from the AI revolution flow to large data-rich international companies such as Google and Facebook?”The New Zealand Law Foundation-funded report divides the problem in two. One approach explores fundamental changes that would make New Zealanders better off, whatever mix of enabling and displacing AI we experience.“We must also find ways to deploy or revamp regulations to prevent wholesale uptake of AI from harming New Zealand workers and the public,” Professor Maclaurin argues.“It is difficult to find approaches that would decrease inequality if high-value work becomes scarcer but would also secure meaningful increase in wellbeing should AI make Aotearoa wealthier. Many apparently desirable strategies, like a Universal Basic Income, are probably unaffordable now and might become even less so depending on how AI implementation plays out.”The most promising approach is shortening the work week.“This is feasible because AI is inherently labour saving. Experiments here and overseas suggest that office workers can often maintain productivity despite dropping to a four-day week.“In operational jobs such as manufacturing work or nursing, government would have to subsidise the shorter work week so that workers retained the same level of pay. This would effectively subsidise the sharing of a wide variety of high-value, well-paid work. It would also address metrics which show that New Zealanders overwork when compared to other comparable developed countries.“A four-day week or a workday synchronised to the school day would help to build vibrant and resilient communities in which it would be easier for all of us to look after our kaumātua, tamariki and mokopuna,” he says.Associate Professor Alistair Knott.The report canvasses various ways that New Zealand might afford such a scheme. A key goal is that New Zealand companies garner a good share of the profits from the AI revolution, co-author Associate Professor Alistair Knott, of the Department of Computer Science, says.“To ensure this, New Zealand government should support local AI ventures. Companies in the social media space, offering targeted local products, are especially to be encouraged — particularly if they implement higher standards of privacy and transparency than the multinational platforms currently do. Government might even invest in such companies, as it did when setting up Kiwibank to compete with offshore banking concerns.”As well as addressing these big picture questions, the report investigates what it will be like to work alongside AI, paying particular attention to the already widespread use of AI in hiring, monitoring, and managing staff.“Well designed and well used AI can help both workers and employers,” says co-author Professor Colin Gavaghan, of the Faculty of Law.Professor Colin Gavaghan.“But there are also plenty of ways things could go badly, leading to widespread harm, unfairness and discrimination.”For example, an algorithmic recruitment system trained on profiles of previous workers could shortlist job applicants based on characteristics that are irrelevant or discriminatory.“AI must not be allowed to entrench historical discrimination.”The report addresses a range of other issues, including:The growing use of AI-enabled workplace surveillance.New Zealand’s ageing regulations regarding health and safety around robots in the workplace.The likely effects of AI on professions such as medicine and law and issues around accuracy, control, transparency and bias.Which kinds of professional-client interaction can be delegated to a human-computer dialogue system (‘chatbot’), and which kinds should be kept in human hands.A copy of the full report can be found at otago.ac.nz/caipp/research /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AI, artificial intelligence, efficiency, GDP, Google, Government, health and safety, human hand, inequality, intelligence, Multinational, New Zealand, social media, surveillance, technology, university, University of Otagolast_img read more

Student life: For the love of jazz

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Dec. 22, 2014 Adam Sammakia’s passion for music started at age 10 when he learned to play the piano. While his knowledge of music theory began early, Sammakia’s interest in creating music was solidified when he discovered jazz music. While growing up in Gunberrell, Colorado, he first pursued jazz through the Colorado Conservatory for the Jazz Arts in addition to playing in his middle school jazz band.Sammakia’s dedication to his passion earned him recognition as the fall semester “Outstanding Graduate” of the College of Music.The jazz studies major was more than surprised when he received the news. Dr. John Davis, a professor of Jazz Studies, introduced him to an audience at a local gig Sammakia was playing.“I never even imagined it. I didn’t consider myself as a candidate,” Sammakia said. “I am still just more surprised than anything.”A humble and gracious attitude is one thing that has contributed to Sammakia’s success. During his first years at CU, Sammakia studied molecular biology and ultimately decided that it wasn’t something he could see himself doing in the future. So he took a year off to prepare to audition into the School of Music, where his passion would be better fulfilled. Over the course of the year, he discovered the string bass to be his instrument of choice. It began when he picked up an electric bass while living in the dorms.“The bass was the only thing I hadn’t checked out and it so happened that it was what I was playing when I got serious to pursue music again,” Sammakia said. “It also turned out to be a really good fit; it just feels comfortable. The role that the bass player plays in a band just goes with my personality.”Sammakia attributes a successful career at CU to his mentors and the community of musicians he has worked with.“At the music school, there’s a very solid community of musicians who really challenge each other and have a lot of love for each other,” he said. “It’s given me the type of support network that I didn’t have before. It’s been the most important thing to have a family of musicians who really can bring out the best in people.”In particular, Jazz Studies Professor Bradley Goode played a large role in his success.“Brad is so deeply educated and surrounded by jazz music. He has a very strong artistic concept and is very good at articulating and expressing that,” Sammakia said. “He’s also very good at supporting his students, while also holding them accountable.”Goode’s jam session in Westminster is where Sammakia believes his education was further enhanced.“In my year off, I basically learned how to play the bass at his (Goode’s) jam sessions. His jam session for me and other students is as much of an education tool or institution as this university has been,” said Sammakia. “That’s where I and a lot of other players at the music school get the actual experience of playing outside of the academic world.”Along with Goode, Sammakia points to CU faculty member, Paul Romaine, who he met through the Colorado Conservatory for the Jazz Arts. Romaine co-founded the program to teach young, aspiring musicians.After graduation, Sammakia will perform at Goode’s weekly jam session at “The Stage at Media Strings” in Westminster. He has also applied to the Japanese Exchange Program, which is something he has always wanted to do in order to gain life experience and to try his hand in teaching.“I really want to live outside of the country and learn another language… I think it is an important component to becoming a well-rounded person,” said Sammakia. “Plus, I do have a serious interest in teaching.”Sammakia’s long-term plan is to attend graduate school, but he doesn’t feel an urgency to do so right away. His advice to young students is to stay positive and to “find a community that supports and challenges you the most,” as his peers and mentors have.“I spent a long time not valuing the community in the beginning. Don’t be negative, be positive,” Sammakia said. “The community became the most important thing to me.”last_img read more

Take a break with CUPD and 7 other things to do this week

first_img Published: May 7, 2018 Coming up this week for faculty and staff are opportunities to watch a wearable technology dance performance, attend the Faculty SPACE lunch, get consulting on data and digital scholarship, join a conversation on today’s political climate and more.  Find more campus events on the Events Calendar. Exhibit through May 12: Spring 2018 Master of Fine Arts Thesis ExhibitionsView the work of artists Yasmin Mazloom, Aaron Treher, Jonathan Welsh and Rachel Wright at the CU Art Museum.  Exhibit through May 23: 50 years of Moore’s LawStop by the Gemmill Engineering, Math & Physics Library to see an exhibit detailing important events in the creation of the modern computer, as well as selections from our collection about the history of the computer, Silicon Valley and the future of microprocessor design. May 8: Web Express Bundles TrainingAre you a Web Express user for your unit on campus? This session will give you an overview of the various Web Express Bundles. It is an opportunity to try out the bundles before enabling them on your site. You can also check out the Bundles demo in the features section. May 8: Otter Pops with a CopTake a break with refreshments and get to know the CU Boulder Police Department. From 11 a.m. to 1 p.m., they’ll be at the Buff Plaza by the Gold Biosciences Building. May 8: Hacking for Defense Capstone PitchesHelp celebrate the final night of MD5’s Hacking for Defense course, in which graduate-student teams from engineering and business address real national security issues as defined by Department of Defense and Intelligence Community partners such as the NSA and the U.S. Navy. May 9: Staff Council full council meetingThe monthly meeting of the Boulder campus Staff Council, which is open to the campus community, will take place at Regent Administrative Center. May 12: The Physics of Wonder WomanWatch out! There’s a new superhero in town! Becky Thompson is an excellent, fun, energetic and engaging teacher. In addition, she is a physicist, cyclist, scholar and head of Educational Outreach for the American Physical Society. Join this entertaining show, free and open to all, including children.  May 13: Memory Café: Early-state programDo you have a family member or friend with memory loss? Bring them to Memory Café at the CU Museum of Natural History May 13, a welcoming event where people living with memory loss and their care partners can come together for socialization, education and inspiration.Categories:GeneralEvents & Exhibits Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

Changes Coming to Improve Supervision of Incarcerated Persons

first_imgChanges Coming to Improve Supervision of Incarcerated Persons National SecurityAugust 14, 2014Written by: Chris Patterson RelatedMario Deane Incident: Police Interdicted, New Guidelines Issued RelatedIncreased Focus on Addressing Corruption – Minister Bunting Story HighlightsTangible changes are being made within the Jamaica Constabulary Force (JCF) that will improve the professionalism of the police as well as put measures in place to reduce arrests for minor offences.Minister of National Security, Hon. Peter Bunting, made the declaration in response to questions posed by journalists surrounding the death of St. James resident Mario Deane.“We have been working on the professionalism of the police…and I think we have seen improvements, but obviously, we have some way to go,” the Minister said. Tangible changes are being made within the Jamaica Constabulary Force (JCF) that will improve the professionalism of the police as well as put measures in place to reduce arrests for minor offences.Minister of National Security, Hon. Peter Bunting, made the declaration in response to questions posed by journalists surrounding the death of St. James resident Mario Deane, during Tuesday’s (August 13) official opening of the Firearm Licensing Authority’s (FLA) new offices at 91A Old Hope Road, St. Andrew.“We have been working on the professionalism of the police…and I think we have seen improvements, but obviously, we have some way to go. We have to do some serious charge screening so as not to overburden the system with minor offences…and we are really revamping the system to be able to deal with them as ticketable offences,” he said.Thirty-one-year-old Mario Deane died at hospital on Wednesday, August 6 after receiving injuries while in police custody.Since the incident, six police officers, who were on duty at the time of Mr. Deane’s injury on Sunday, August 3, have been interdicted and suspended with immediate effect, as investigations continue to determine possible culpability.Those interdicted are two Police Corporals and one Police Constable, while three District Constables were suspended, all attached to the Barnett Street Police Station in St. James. Two remandees have also been charged in relation to Mr. Deane’s death.Responding to concerns about the time that has passed since the death of Mr. Deane and the announcement of the interdictions and suspensions, Minister Bunting said there is a clear separation of policy from operations and the Commissioner of Police has “sole operational superintendence of the force, so I cannot tell him to suspend officers.”“If they have a process that they feel they need to go through with their investigations before they have sufficient information to act, I have to respect that separation that is made in the Jamaica Constabulary Force Act,” he said.The Minister, in the meantime, is declaring that gone are the days, when members of the police force could operate with impunity.“When you look at the numbers of police personnel that have been charged by INDECOM (Independent Commission of Investigation) criminally, when you look at the hundreds of police personnel that have either been charged criminally or administrative sanctions have been brought against them by the Anti-corruption Banch of the police, certainly I don’t think that that impunity exists today,” he stated.He reminded those “who may be slow to realise that the paradigm is changing” that they will have to face the consequences of whatever the law allows.He informed that measures to advance this change in culture include: supporting the work of INDECOM; strengthening the work of the Anti-Corruption branch, which was recently merged with the Major Organised and Anti-Corruption Task Force (MOCA); allowing more capable and senior police officers to carry out investigations, among other things.center_img RelatedNational Security Minister Calls for Review of Approach for Persons Found with Ganja Advertisements FacebookTwitterWhatsAppEmail last_img read more

Fears for job losses in Donegal over lack of supports for suckler farms

first_img WhatsApp Previous article21 people awaiting in-patient beds at LUHNext articleBreaking: Four arrested in Lyra McKee murder probe News Highland Facebook By News Highland – May 9, 2019 Pinterest There’s a warning that 52,000 full-time jobs and 14,000 suckler farms will be lost from Ireland’s beef industry over the next decade unless action is taken.Sucklers in Donegal, Sligo, Leitrim, Cavan and Monaghan are said to generate €445m in direct and indirect economic output and 8,600 jobs.A recent analysis shows that the western and border counties are particularly reliant on the suckler herd, but its positive effect on the economy is felt nationwide.Beef Editor with the Irish Farmers Journal Adam Woods says the Government must provide additional supports as a matter of urgency:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/05/adamwoods.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Fears for job losses in Donegal over lack of supports for suckler farms Twitter Derry draw with Pats: Higgins & Thomson Reaction Facebook Harps come back to win in Waterford Google+center_img WhatsApp DL Debate – 24/05/21 Twitter AudioHomepage BannerNews FT Report: Derry City 2 St Pats 2 RELATED ARTICLESMORE FROM AUTHOR News, Sport and Obituaries on Monday May 24th Pinterest Google+ Important message for people attending LUH’s INR cliniclast_img read more

News / Nail-biting times for Lufthansa as Russia stands its ground

first_imgBy Alex Lennane 23/03/2012 The wrangling between Germany and Russia is beginning to resemble something of a new cold war, as airlines and authorities battle to drive home legal advantages.Germany’s antitrust authority last week decided that Volga Dnepr’s purchase of a 49% share in Air Cargo Germany, through its Dutch-registered subsidiary Volga Dnepr Logistics, would not unfairly give the Russians a dominant position in the German market.However, antitrust authorities told The Loadstar that while any other share deals involving Air Cargo Germany would trigger further investigations, for the time being, said a spokesman, “I don’t think everyone’s happy, but we are happy”.The approval, which some observers believe could help Volga Dnepr take over ‘effective control’ of the struggling Hahn-based business, does beg the question as to what Germany will get from the deal.Tensions are continuing to run high between the two countries, suggesting a lot of politics is going on behind the scenes. In the past couple of weeks the pair tried to negotiate a new air bilateral, in which Germany demanded open skies. The Russians not only turned that down, but adjourned any further meetings for six months.It’s nail-biting stuff – particularly for Lufthansa, which has yet to get permission from Russia for some 11 flights in its summer schedule. A spokesman confirmed that the carrier is hoping for approval from the Russian authorities by Sunday, and that at least 19 flights have so far been allowed.So has Russia’s steadfast refusal to offer open skies contributed to Volga Dnepr getting the antitrust approval it wanted? It’s hard to say. But reports in the Russian press suggest that the Russian carrier is still hoping for total control of Air Cargo Germany, and, by extension, its traffic rights to the US. One lawyer told a Russian newspaper that legal restrictions could be avoided by purchasing the beneficiary.Either way, it’s a complicated paper trail. ACG was, until Volga Dnepr’s investment, owned partly by an Irish company called City Leasing Ltd, and partly by ACG Beteiligungsgesellschaft. It is as yet unclear how the stakes are now divided, but some observers expect to see the name City Leasing dropping off the list of shareholders. Volga Dnepr has numerous European subsidiaries, including Volga Dnepr UK and Volga Dnepr Ireland – although Volga Dnepr Logistics, interestingly, is not mentioned on its website.Meanwhile, Lufthansa, which is surely spitting feathers as it waits for the ruling on its already published summer schedule, is keeping tight-lipped about any lobbying activity it may be up to. The only comment from LH Cargo chief Karl Ulrich Garnadt was that stakes in German companies should not be used to bypass legal frameworks.But few people expect any less of the Russian airline’s founder.last_img read more