Economy

2024-01-24 06:36:53

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#Nicolas #Doze #JeanMarc #Daniel #Free #trade #break

2024-01-24 02:30:04

His father’s voice, the roar of cars, the sound of scissors cutting his hair: an 11-year-old boy hears “for the first time in his life” following a new gene therapy, a hospital in Philadelphia announced on Tuesday. UNITED STATES.

• Read also: ‘He’s really not doing well’: Exhausted parents of autistic children demand services during strike

• Read also: Pascale Beauregard recounts a difficult childhood with deaf parents

This achievement, a first in the country, represents hope for patients around the world suffering from hearing loss caused by genetic mutations, said in a press release the Children’s Hospital of Philadelphia (CHOP), which carried out the treatment.

Aissam Dam was born “profoundly deaf” due to a very rare abnormality in a single gene.

“Gene therapy for hearing loss is a goal that we, as hearing loss doctors and scientists, have pursued for more than 20 years. And we’re finally there,” said surgeon John Germiller, director of clinical research in the division of otolaryngology (ENT).

“The gene therapy we applied to our patient aimed to correct the abnormality of a very rare gene, but these studies might pave the way for future use for more than 150 other genes responsible for childhood hearing loss “, he rejoiced in the press release.

In patients like Aissam Dam, a defective gene prevents the production of otoferlin, a protein needed by hair cells in the inner ear to convert sound vibrations into chemical signals sent to the brain.

Abnormalities of the otoferlin gene are very rare and represent between 1 and 8% of cases of hearing loss at birth.

On October 4, 2023, the boy underwent surgery that partially raised his eardrum and then injected the internal fluid of his cochlea with a harmless virus that had been modified to carry working copies of the otoferlin gene.

The hair cells then began to produce the missing protein.

Almost four months later, Aissam’s hearing has improved to the point where he now has only mild to moderate hearing loss.

Born in Morocco before moving to Spain with his family, Aissam may never be able to speak, however, as the part of the brain intended for speech acquisition shuts down around the age of five, reports the New York Times.

Other similar studies with children are underway or regarding to begin in the United States, Europe and China, some of which have been successful.

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#deaf #child #hears #time #treatment #unprecedented #United #States

2024-01-24 04:00:00

Attacks in the Red Sea by Iran-backed Houthi militants on ships have dealt a fresh blow to global supply chains.

Disruptions to shipping through the Suez Canal, the shortest sea route between Europe and Asia, have reduced supplies of oil, grain and many other products.

Five hedge funds shared five ideas on how to profit from uncertainty. Their views do not represent recommendations or commercial positions, which they cannot reveal for regulatory reasons.

1/ CAYLER CAPITAL

* Hedge fund focused on commodities

*Size: $54 million

* Founded in 2019

* Main operation: options spread

The founder of Cayler Capital, Brent Belote, favors an options transaction.

This involves selling a put spread on December 2024 oil futures, a way to hedge bets if oil fell into a range between $60 and $50 a barrel, and buying simultaneously five times more call options that would pay off if December contracts reached $120 in 2024.

An option bets that an asset will reach a certain value, or strike price.

Mr. Belote noted that selling 100 similar puts and buying 500 calls would have raised more than $4 million if sold just before Russia invaded Ukraine. .

For the operation to work, disruptions in the Red Sea must reduce supplies to such an extent that OPEC would be unable to cope with the loss, Mr. Belote said, referring to the group of oil producers. oil.

“The main headwind is that OPEC has a lot of its spare capacity thanks to voluntary oil production cuts,” he said. Otherwise, the price of oil would have already exceeded $100, he added.

2/ SVELLAND CAPITAL

* Commodities hedge fund

*Size: approximately $400 million

* Creation: 2016

* Main activity: Long LNG carriers

Nadia Martin Wiggen, director of Svelland Capital, expects demand from shipping companies transporting liquefied natural gas, which is processed into gas for heating and cooking, to increase in the long term.

This is driven by increased U.S. production and shipments, recovering Chinese demand, a booming Indian economy and the increased role of natural gas in the transition to renewable energy.

Disruptions in the Red Sea have lengthened delivery times for LNG and the need for more ships to deliver it has increased.

“Although the world is increasingly polarized, it cannot function without access to energy,” Ms. Wiggen said.

3/ AUSTIN CAPITAL

* Systematic management of raw materials

*Size: $1 billion

* Creation: 2006

* Main activities: purchase and sale of several commodities

Tim Pickering, founder of Auspice Capital, says the fund, which systematically follows trends, is increasingly reliant on short-term strategies in the absence of a clear long-term market direction.

This resulted in short bets on grains and commodities in general, among the fund’s many long and short positions in energies, metals and commodities.

Disruptions in the Red Sea have increased the number of grain shipments diverted to Africa, lengthening delivery times and reducing supply.

“We expect a general rise in commodities as we approach 2024,” Mr Pickering said.

4/ RAIN TREE PARTNERS

* Fonds d’actions long/short

* Size: not communicated

* Creation: 2023

* Key trade: Long China shipping and container companies

Gengwei Lin, co-founder and CEO of the company, believes that the Red Sea turbulence is expected to be short-lived and has not yet had a significant impact on global supply chains and suppliers.

But as short-term shipping costs have soared, Gengwei Lin is prioritizing exposure to large Chinese shipping companies.

“China is the world’s largest importer of oil, but also the largest exporter of goods, and the crisis is benefiting shipping companies,” he said.

The Shanghai Containerized Freight Index, which measures non-contracted rates for container shipments from Chinese ports, has jumped 120% since December. In contrast, the Chinese stock market as a whole is down almost 7% since the start of the month.

Mr. Lin was also positive regarding containers, which benefit from ship rerouting.

5/ FONDS RIVERPARK

* Equity, fixed income and venture capital strategies

*Size: $2 billion

* Creation: 2006

* Main activity: buying companies facing supply chain problems.

Conrad van Tienhoven, portfolio manager at RiverPark, estimates that Houthi militant attacks on ships are unlikely to last more than 12 to 18 months.

Given this scenario, he sees opportunities to buy consumer companies that are trading lower this year due to supply chain concerns, such as consumer goods and auto makers.

Retail brands Nike and Lululemon are down 7.5% and 6%, respectively, this year.

Mr Van Tienhoven believes that both companies have excess inventory to deal with short-term logistical problems.

He added that automaker Tesla might also become a buying opportunity if it misses one to triple digits in production in a row and its shares trade lower. Tesla shares are down nearly 16% this month.

Tesla said it would temporarily suspend most car production at its factory near Berlin, citing a shortage of components due to changes in transportation routes linked to Red Sea disruptions.

The companies did not immediately respond to Archyde.com’ requests for comment.

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#hedge #funds #trade #supply #disruptions #Red #Sea #January #a.m