
<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>As it makes headlines for its startup golf tour merging with the PGA and its huge international investment spree, Saudi Arabia’s controversial Public Investment Fund reported $11 billion in losses in 2022, according to Bloomberg—a year in which the Saudi fund launched a new sports investing venture and stock markets slipped.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Last year’s numbers are a far cry from 2021, when PIF reported a profit of $19 billion.</p>



<p>PIF did not report what return it made on its accounts in 2022, but global markets saw significant declines, with the S&amp;P 500 losing 19.4%—the worst year since 2008.</p>



<p>In 2022, PIF launched the Sports Investment Company as a spinoff of its sports properties that will invest in sports domestically and internationally.</p>



<p>PIF’s assets ended the year at about $778 billion, according to Bloomberg.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>The Sports Investment Company’s properties include the LIV Golf tour, which used the promise of massive winnings to lure major golfers toward its events, setting off a legal conflict with the PGA Tour until the two entities announced plans to merge last month. During a congressional hearing Tuesday, PGA Tour officials&nbsp;<a href="https://www.washingtonpost.com/sports/2023/07/11/pga-tour-liv-hearing-senate/" target="_blank" rel="noreferrer noopener">acknowledged</a>&nbsp;the merger involved an investment from PIF “north of $1 billion.”</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>PIF is the national sovereign wealth fund of Saudi Arabia. Since 2016, it has invested both domestically and internationally with money gained mostly from tapping into the country’s oil deposits. That includes launching 79 companies, including Riyadh Air, and investing in a number of international companies, including $3.3 billion worth of Activision Blizzard shares—which jumped in price Tuesday morning after a legal hurdle was cleared to merge with Microsoft—and $2.3 billion in Uber shares. In addition to its moves in golf, the fund has used its wealth to gain a foothold in the international soccer world. That includes a £305 million—$414.8 million—takeover of English soccer club Newcastle United and a deal to bring Portuguese superstar Christiano Ronaldo to Saudi club Al Nassr, which is backed by a subsidiary of PIF.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>LIV Golf’s blockbuster merger with the PGA was put under the spotlight in Washington, D.C., Tuesday as lawmakers grilled PGA officials during a congressional hearing about the deal that made it happen. Sen.&nbsp;<a href="https://www.washingtonpost.com/sports/2023/07/11/pga-tour-liv-hearing-senate/" target="_blank" rel="noreferrer noopener">Richard Blumenthal (D-Conn.) told</a>&nbsp;a group of PGA executives the deal gives the Saudi government “financial dominance” because they “control the purse strings.” Much of the controversy around the merger stems from accusations Saudi Arabia is using sports to distract from record human rights abuses. LIV Golf CEO Greg Norman has faced&nbsp;<a href="https://www.axios.com/2023/01/21/liv-golf-ceo-greg-norman-saudi-arabia-mistakes" target="_blank" rel="noreferrer noopener">repeated</a>&nbsp;<a href="https://thehill.com/policy/international/3821912-liv-golf-ceo-on-saudi-arabian-killing-of-khashoggi-look-i-think-everybody-learns-from-their-mistakes/" target="_blank" rel="noreferrer noopener">questions</a>&nbsp;about the killing of American journalist Jamal Khashoggi by Saudi officials. Additionally, a coalition of families that lost loved ones in the 9/11 attacks have released&nbsp;<a href="https://911familiesunited.org/9-11-families-united-statement-on-pga-merging-with-saudi-backed-liv-golf-tour/" target="_blank" rel="noreferrer noopener">a statement</a>&nbsp;condemning the merger, calling it “sportswashing” to distract from the fact that “Saudi operatives played a role in the 9/11 terrorist attacks” (most of the 9/11 hijackers were from Saudi Arabia, but the country’s government has long denied any ties to the attackers).</p>



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<p>By signing up, you accept and agree to our&nbsp;<a href="https://www.forbes.com/terms-and-conditions" target="_blank" rel="noreferrer noopener">Terms of Service</a>&nbsp;(including the class action waiver and arbitration provisions), and&nbsp;<a href="https://www.forbes.com/privacy" target="_blank" rel="noreferrer noopener">Privacy Statement</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.bloomberg.com/news/articles/2023-07-11/saudi-wealth-fund-reports-11-billion-investment-loss-for-2022?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter" target="_blank" rel="noreferrer noopener">Saudi Wealth Fund Reports $11 Billion Investment Loss for 2022</a>&nbsp;(Bloomberg)</p>



<p><a href="https://www.forbes.com/sites/anafaguy/2023/06/06/pga-tour-and-saudi-backed-liv-golf-agree-to-merge/?sh=48eede716b22">PGA Tour And Saudi-Backed LIV Golf Agree To Sudden Merger</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/maryroeloffs/2023/06/21/pga-liv-leaders-called-to-testify-before-congress-over-historic-merger/?sh=575c6146ad13">PGA, LIV Leaders Called To Testify Before Congress Over Historic Merger</a> (Forbes)</p>


Tourism in Saudi Arabia at AlUla Ancient Site

Saudi Public Investment Fund Reports $11 Billion In 2022 Losses—But Sports Investments Might Not Be To Blame


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Instagram lead Adam Mosseri said in two&nbsp;<a href="https://www.threads.net/t/CuZ6opKtHva/" target="_blank" rel="noreferrer noopener">Threads posts</a>&nbsp;Friday that the new app would not encourage “politics and hard news” on its platform, a far cry from the promoted political content found on its rival platform Twitter.</p>



<p>The announcement of the social media app Threads is displayed in Apple&#8217;s US App Store. (Photo by&nbsp;&#8230; [+]<small>DPA/PICTURE ALLIANCE VIA GETTY IMAGES</small></p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Mosseri said in a&nbsp;<a href="https://www.threads.net/t/CuZ6opKtHva/" target="_blank" rel="noreferrer noopener">Threads conversation</a>&nbsp;that the new platform will inevitably contain politics and hard news, but that Threads is “not going to do anything to encourage those verticals,”—an approach adopted by&nbsp;<a href="https://www.nytimes.com/2021/02/10/technology/facebook-reduces-politics-feeds.html" target="_blank" rel="noreferrer noopener">Facebook in 2021</a>.</p>



<p>Mosseri noted that the engagement or revenue such content might drive is not worth the scrutiny, negativity or integrity risks they present to the platform.</p>



<p>“The goal isn’t to replace Twitter,” Mosseri added, referencing the rival platform that has greatly encouraged political content and hosted live audio conversations featuring former Twitter CEO Elon Musk and GOP&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/05/23/desantis-launching-presidential-run-wednesday-in-event-with-elon-musk-report-says/?sh=75de68619294">presidential</a>&nbsp;<a href="https://www.reuters.com/world/us/musk-hosts-twitter-event-anti-vaxx-democratic-candidate-rfk-jr-2023-06-05/" target="_blank" rel="noreferrer noopener">candidates</a>.</p>



<p>Both Meta and Twitter allow users to pay to be verified on their respective platforms.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“The goal isn&#8217;t to replace Twitter,”&nbsp;<a href="https://www.threads.net/t/CuZ3LjhNl0m/" target="_blank" rel="noreferrer noopener">Mosseri said</a>. “The goal is to create a public square for communities on Instagram that never really embraced Twitter and for communities on Twitter (and other platforms) that are interested in a less angry place for conversations, but not all of Twitter.”</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p><a href="https://www.forbes.com/sites/johnkoetsier/2023/07/07/70-million-sign-ups-8-reasons-why-threads-is-blowing-up/?sh=216fd4ea412b">70 million</a>. That’s how many sign-ups Threads hit Friday morning.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The choice for Threads to steer clear of news and politics on its platform is likely informed by troubles Facebook had before it reduced such content in 2021. A study found that in 2020, during the lead-up to the presidential election, Facebook&nbsp;<a href="https://www.forbes.com/sites/traversmark/2020/03/21/facebook-spreads-fake-news-faster-than-any-other-social-website-according-to-new-research/?sh=7e2281d76e1a">spread fake news faster</a>&nbsp;than any other social websites. A separate&nbsp;<a href="https://time.com/5949210/facebook-misinformation-2020-election-report/" target="_blank" rel="noreferrer noopener">2021 study</a>&nbsp;concluded the website could have prevented more than 10 billion views on popular pages that posted misinformation on Facebook prior to the election. By early 2021, the social media site&nbsp;<a href="https://www.nytimes.com/2021/02/10/technology/facebook-reduces-politics-feeds.html" target="_blank" rel="noreferrer noopener">changed its algorithm</a>&nbsp;to lessen the amount of political content in users’ feeds. The platform has since maintained a stark contrast to Twitter, which after its $44 billion purchase at the hands of Musk, has encouraged political content. Musk, who stays active on the app, has encouraged politicians to engage with him on Twitter Spaces—allowing Gov. Ron DeSantis (R-Fl) to&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/05/23/desantis-launching-presidential-run-wednesday-in-event-with-elon-musk-report-says/?sh=75de68619294">launch his presidential campaign</a>&nbsp;using the live audio feature. Former Fox News host Tucker Carlson also uses Twitter as his platform to upload episodes of his&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/06/06/tucker-carlson-launches-new-twitter-show-weeks-after-fox-news-ouster-and-talks-ukraine-and-ufos/?sh=4c11cf002883">independent commentary show</a>. On Carlson’s first episode of the show, he said he and his team were “<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/06/06/tucker-carlson-launches-new-twitter-show-weeks-after-fox-news-ouster-and-talks-ukraine-and-ufos/?sh=4c11cf002883">grateful</a>” to be on Twitter and were told there were no “gatekeepers” on the platform.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.theverge.com/2023/7/7/23787334/instagram-threads-news-politics-adam-mosseri-meta-facebook" target="_blank" rel="noreferrer noopener">Threads isn’t for news and politics, says Instagram’s boss</a>&nbsp;(The Verge)</p>



<p><a href="https://www.cnbc.com/2023/07/07/threads-doesnt-need-negativity-of-hard-news-politics-meta-exec.html" target="_blank" rel="noreferrer noopener">Meta Threads doesn’t need the ‘negativity’ of hard news and politics, exec says</a> (CNBC)</p>


In this photo illustration, a user sees in his download

Threads Won’t Promote Political Or Hard News Content — A Contrast From Twitter


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>OceanGate—the sea exploration company that operated the Titan submersible that went missing and imploded in June—is suspending all exploration and commercial operations, according to the company’s <a href="https://oceangateexpeditions.com/" target="_blank" rel="noreferrer noopener">website</a>.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>News of the suspension came just over two weeks after five people were killed, including the company&#8217;s CEO Stockton Rush, during a trip to the Titanic wreckage.</p>



<p>OceanGate previously offered dives to the Titanic wreckage—which it had successfully visited twice—and to hydrothermal vents in Azores Archipelago, Portugal, both of which cost $250,000 per passenger, according to its site.</p>



<p>Days after the sub lost contact, the Coast Guard announced that “presumed human remains” were recovered from debris of the Titan sub, which was recovered from the seafloor.</p>



<p>OceanGate also had a number of commercial offerings, such as using subs for deep sea testing, underwater filming and photography, or research and data collection.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The Titan submersible first went missing Sunday, June 18, after it departed on a trip bound for the wreckage of the Titanic, triggering a search by the Coast Guard that lasted about five days. Officials initially held out hope that the five men on board could be saved before the vessel’s oxygen ran out by Thursday, until the Coast Guard District Northeast&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2023/06/22/titan-sub-passengers-have-sadly-been-lost-after-coast-guard-finds-debris-from-catastrophic-event-near-titanic-wreckage/?sh=3ae3eb7b1126">announced</a>&nbsp;a debris field containing external parts of the Titan submersible had been discovered in an area near the wreck of the Titanic. The Coast Guard confirmed the Titan submersible suffered a “catastrophic implosion” that resulted in the passengers’ deaths. Days after the sub lost contact, the Coast Guard announced that “presumed human remains” were recovered from debris of the Titan sub, which was recovered from the seafloor. During the search for the vessel, information about its creators and questionable construction began to surface. In a 2021 interview, Rush said he had “<a href="https://www.forbes.com/sites/mollybohannon/2023/06/23/oceangate-ceo-said-in-2021-ive-broken-some-rules-in-building-titanic-sub-that-later-imploded/?sh=618855e37ae5">broken some rules</a>” when designing the submersible, specifically by building it against industry standards using carbon fiber and titanium. Scientists at the Marine Technology Society also had concerns, criticizing OceanGate in 2018 for failing to meet a set of voluntary industry standards for vessel safety and urging it to send a prototype for review, according to a letter obtained by the&nbsp;<a href="https://int.nyt.com/data/documenttools/marine-technology-society-committee-2018-letter-to-ocean-gate/eddb63615a7b3764/full.pdf" target="_blank" rel="noreferrer noopener"><em>New York Times</em></a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://oceangateexpeditions.com/" target="_blank" rel="noreferrer noopener">OceanGate Expeditions</a>&nbsp;(OceanGate)</p>



<p><a href="https://www.forbes.com/sites/mollybohannon/2023/06/28/presumed-human-remains-found-in-titanic-sub-debris-coast-guard-says/?sh=17eea5461c98">‘Presumed Human Remains’ Found In Titanic Sub Debris, Coast Guard Says</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2023/06/22/titan-sub-passengers-have-sadly-been-lost-after-coast-guard-finds-debris-from-catastrophic-event-near-titanic-wreckage/?sh=70da17171126">Titan Sub Passengers Have ‘Sadly Been Lost’—As Coast Guard Finds Debris From ‘Catastrophic Event’ Near Titanic Wreckage</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/brianbushard/2023/06/20/titanic-sub-search-fact-checking-claims-about-the-tourist-submersible-that-went-missing/?sh=77176afe12d9">Titanic Sub Search: Fact-Checking Claims About The Tourist Submersible That Went Missing</a> (<em>Forbes</em>)<a href="https://www.forbes.com/sites/mollybohannon/"></a></p>


OceanGate Offices As Titanic Submersible Still Missing

Titanic Sub Company OceanGate Suspends All Exploration And Commercial Operations


<p><strong>Former South African Minister in the Presidency Essop Pahad, renowned for his anti-apartheid activism, dies at age 84.</strong></p>



<p>Essop Pahad, a revered figure in South African politics and the former Minister in the Presidency, passed away peacefully at the age of 84 this morning, confirmed by his family in a statement. Pahad&#8217;s close association with former President Thabo Mbeki and his influential role in shaping policies made him a trusted confidante and strategic thinker.</p>



<p>Pahad&#8217;s political journey began as an anti-apartheid activist in the late 1960s when he joined the Transvaal Indian Youth Congress. His unwavering commitment to the cause led to his arrest by the apartheid regime, after which he sought refuge in exile and became an active member of the African National Congress (ANC).</p>



<p>President Cyril Ramaphosa paid tribute to Pahad, acknowledging his contributions to the development of a democratic South Africa. “Essop Pahad was a thinker and strategist who brought his understanding of the human condition, injustice and inequality at the national and international level to bear on our transition to democracy and in introducing a democratic, non-aligned and activist South Africa to the global community,” said Ramaphosa in a statement.</p>



<p>The ANC and Congress of South African Trade Unions (COSATU), organizations with which Pahad was closely associated, also expressed their condolences.</p>



<p>Pahad&#8217;s burial, scheduled for later today in Johannesburg, will be conducted in accordance with his Muslim faith, honoring his beliefs and legacy.</p>


0000430062

South African Anti-Apartheid Veteran Essop Pahad Passes Away


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>More than 10 million people signed up to join Meta’s new “Threads” app within the first seven hours of its launch on Wednesday, the company’s CEO Mark Zuckerberg announced, an early sign that the Instagram offshoot may pose a serious threat to Twitter, which has recently been marred by technical glitches and unpopular changes.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Sign-ups on Meta’s Twitter rival crossed 2 million within in the first two hours of its launch, growing to&nbsp;<a href="https://www.threads.net/t/CuVxMmvLNsG" target="_blank" rel="noreferrer noopener">5 million</a>&nbsp;in the next two hours and doubling again to 10 million at the seven hour mark, Zuckerberg wrote on Threads.</p>



<p>To put that&nbsp;<a href="https://thenextweb.com/news/google-reached-10m-users-in-16-days-want-to-know-how-long-it-took-facebook-and-twitter" target="_blank" rel="noreferrer noopener">into perspective</a>&nbsp;it took Facebook 852 days to reach 10 million users while Twitter reached that mark in 780 days.</p>



<p>Unlike other Twitter rivals like Mastodon—which has a complex sign-up process—or Bluesky—which requires invites—Threads allows users to sign up for the app and populate their profile and follow lists using their Instagram account.</p>



<p>Twitter CEO Elon Musk—who has recently been critical of Meta and Zuckerberg—reacted to Threads’ launch by&nbsp;<a href="https://twitter.com/elonmusk/status/1676783253766676483" target="_blank" rel="noreferrer noopener">implying</a>&nbsp;that the app was nothing but a copy-paste of Twitter’s design.</p>



<p>Musk also&nbsp;<a href="https://twitter.com/elonmusk/status/1676770522200252417" target="_blank" rel="noreferrer noopener">tweeted</a>&nbsp;that it was “infinitely preferable to be attacked by strangers on Twitter, than indulge in the false happiness of hide-the-pain Instagram.”</p>



<p>The rollout of Threads has not been entirely glitch-free, however, as Zuckerberg’s timeline failed to load.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>Responding to a question about the potential of Threads becoming bigger that Twitter, Zuckerberg&nbsp;<a href="https://www.threads.net/t/CuVafQTvquB/" target="_blank" rel="noreferrer noopener">wrote</a>: “It&#8217;ll take some time, but I think there should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn&#8217;t nailed it. Hopefully we will.”</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>The launch of Threads comes at a time when Twitter has faced criticism for enacting&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/07/01/elon-musk-announces-temporary-reading-limit-for-unverified-twitter-accounts-amid-outage/?sh=53c522c475fa">unpopular changes</a>&nbsp;to its user experience, while the platform continues to deal with significant&nbsp;<a href="https://waxy.org/2023/07/twitter-bug-causes-self-ddos-possibly-causing-elon-musks-emergency-blocks-and-rate-limits-its-amateur-hour/" target="_blank" rel="noreferrer noopener">technical issues</a>. Facebook isn’t a stranger to&nbsp;<a href="https://www.forbes.com/sites/rachelsandler/2020/08/05/as-facebook-launches-tiktok-clone-a-look-back-at-6-other-rival-products-it-copied/?sh=5ef7245a5c5a">copying products and features</a>&nbsp;from rival platforms and has done so with varying success. The popular “Instagram Stories” launched in 2016 and was pretty much a&nbsp;<a href="https://techcrunch.com/2016/08/02/silicon-copy/" target="_blank" rel="noreferrer noopener">direct copy</a>&nbsp;of a Snapchat feature that allowed users to post video clips and photos that disappeared from their timeline in 24 hours. In 2020, Meta&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2021/03/09/instagrams-tiktok-clone-reels-is-coming-to-facebook-with-trial-starting-in-india/?sh=3606ec9647df">launched</a>&nbsp;its TikTok clone “Instagram Reels,” which has found&nbsp;<a href="https://dazeinfo.com/2023/06/20/youtube-shorts-instagram-reels-india-growth-short-form-video/" target="_blank" rel="noreferrer noopener">popularity in places like India,</a>&nbsp;where the ByteDance-owned video-sharing app has been banned. Facebook Marketplace, an online classifieds platform similar to Craigslist, has also seen&nbsp;<a href="https://restofworld.org/2020/bangladesh-economy-runs-on-facebook/" target="_blank" rel="noreferrer noopener">strong adoption</a>&nbsp;in parts of South Asia. Aside from its history of building successful copycats, Meta’s significantly larger global user base is also a key advantage it has over Twitter. Threads is an offshoot of Instagram, which has an&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-10-26/meta-s-instagram-users-reach-2-billion-closing-in-on-facebook#xj4y7vzkg" target="_blank" rel="noreferrer noopener">active user count of 2 billion</a>—roughly eight times the size of Twitter.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/antoniopequenoiv/2023/07/05/meta-officially-launches-threads-challenging-elon-musk-and-twitter/?sh=434928413db7">Meta Officially Launches Threads—Challenging Elon Musk And Twitter</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/roberthart/2023/07/05/leaving-elon-musks-twitter-here-are-some-alternatives-from-meta-threads-to-mastodon-to-bluesky/?sh=498993ec1224">Leaving Elon Musk&#8217;s Twitter? Here Are Some Alternatives, From Meta Threads To Mastodon To Bluesky.</a> (Forbes)</p>


Meta Announces Threads App

Zuckerberg Says Threads Crossed 10 Million Signups In First Seven Hours As Musk Rails Against Instagram


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Facebook and WhatsApp parent Meta will launch the firm’s long awaited competitor to Twitter, Instagram Threads, on Thursday, escalating the personal rivalry between feuding billionaires Mark Zuckerberg and Elon Musk and firmly throwing down the gauntlet after another chaotic weekend had the platform’s users searching for alternatives.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Meta’s app, Threads, is listed as “coming soon” on Apple’s App Store and is available for pre-order.</p>



<p>The listing said Threads is “expected July 6” and Meta’s countdown&nbsp;<a href="https://www.threads.net/" target="_blank" rel="noreferrer noopener">website</a>&nbsp;for the launch indicates the app will go live at 10 a.m. ET (7 a.m. PT), though it’s unclear whether Meta plans to stagger the rollout in some way.</p>



<p>Details on the full nature of Threads are scarce but the listing describes the platform as a “text-based conversation app” and screenshots show a dashboard that appears very similar to Twitter’s app, with the ability to like, share, post and repost content.</p>



<p>Threads will be directly linked to Meta’s popular photo sharing platform Instagram and screenshots suggest users can keep their usernames and easily follow the same accounts they do on Instagram on the new platform.</p>



<p>From the listing, Threads looks likely to be a free service in exchange for personal data, a model in line with many of Meta’s other popular apps and other free online services.</p>



<p>Instagram Threads users will need to be at least 12 years old, according to the App Store listing.</p>



<h2 class="wp-block-heading" id="h-what-we-don-t-know">WHAT WE DON’T KNOW</h2>



<p>It’s not clear when Threads will be launched on Android systems or whether the network will be accessible without the app. A similar listing of Threads&nbsp;<a href="https://www.theverge.com/2023/7/1/23781271/instagram-threads-twitter-leak-android-google-play" target="_blank" rel="noreferrer noopener">reportedly appeared</a>&nbsp;on the Google Play store—which serves Android devices—on Saturday showing similar features, images and descriptions. The post, which did not list a release date, was seemingly in error and was swiftly removed from the store.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>Meta’s release of a product to rival Twitter is both timely and expected. Meta, formerly Facebook, has a well documented history of lifting features from competitors—its short-form video feature Reels draws from TikTok,&nbsp;<a href="https://techcrunch.com/2022/09/13/meta-announces-discord-like-community-chats-on-messenger/" target="_blank" rel="noreferrer noopener">community chats</a>&nbsp;from Discord and disappearing video and photo feature Stories from&nbsp;<a href="https://www.businessinsider.com/how-developer-mark-zuckerberg-invented-instagram-stories-copied-snapchat-2020-4?r=US&amp;IR=T" target="_blank" rel="noreferrer noopener">Snapchat</a>—to varying degrees of success. Twitter is an obvious target, with many users keen to jump ship given the parade of controversy and service issues that has followed Elon Musk’s takeover last year, including drastic revisions to longstanding verification and content moderation policies, cutting company headcount to the bone, changes to who can access platform data and numerous system outages. Most recently, Musk limited the number of posts users—even paying users—could see on Twitter and required users to have registered for accounts to view tweets. With each new development, rivals like Bluesky, Trump’s Truth Social and Mastodon have&nbsp;<a href="https://techcrunch.com/2023/07/03/twitter-competitors-soar-after-yet-another-bad-musk-move/" target="_blank" rel="noreferrer noopener">benefited handsomely</a>, though none have yet managed to gain the kind of traction needed to fully take on an established social media giant like Twitter. With its vast resources and established social networks, Threads’ arrival could pose a serious threat to Twitter.</p>



<h2 class="wp-block-heading" id="h-forbes-valuation">FORBES VALUATION</h2>



<p>$101.5 billion. That’s how much&nbsp;<em>Forbes</em>&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/?list=rtb/&amp;sh=470e77f63e06">estimates</a>&nbsp;Mark Zuckerberg is worth, according to our live tracker. Zuckerberg’s fortune is largely derived from his stake in Meta and it makes him the 10th richest person in the world. Musk is worth an&nbsp;<a href="https://www.forbes.com/profile/elon-musk/?sh=595dbf9d7999">estimated</a>&nbsp;$249.4 billion and currently holds the top position in&nbsp;<em>Forbes’</em>&nbsp;list of the world’s wealthiest people. The two billionaires have reportedly been&nbsp;<a href="https://www.wsj.com/articles/elon-musk-mark-zuckerberg-cage-fight-b71fa4ff" target="_blank" rel="noreferrer noopener">feuding</a>&nbsp;for years, though this recently spilled out into the public domain and the pair are apparently primed to settle things with a literal fight. It is unclear whether the agreed upon “cage match” will ever happen.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.wsj.com/articles/elon-musk-mark-zuckerberg-cage-fight-b71fa4ff" target="_blank" rel="noreferrer noopener">Behind the Musk-Zuckerberg ‘Cage Match’ Is a Yearslong Billionaire Feud</a> (WSJ)</p>


Meta’s Twitter Rival Threads Will Launch Thursday As Chaos Continues On Elon Musk’s Platform


<p><strong>South Africa&#8217;s National Health Insurance bill aims to bridge the gap between private and public healthcare sectors. However, concerns about impact on private medical aid coverage and potential for reduced innovation and employment within the healthcare sector have sparked confusion around its implementation.</strong></p>



<p>South Africa stands on the brink of a significant transformation in its healthcare sector with the passing of the National Health Insurance (NHI) bill on June 14, surpassing the first legal obstacle to implementation. The legislation aims to bridge the gap between the private and public healthcare sectors, promising to bring equity to a system that has long been divided.</p>



<p>However, the bill has not been without its detractors, who express concerns about potential government inefficiency, the impact on private medical aid coverage, and the potential for reduced innovation and employment within the healthcare sector.</p>



<p>“Technically, I don’t think it’s feasible,” says Professor Alex Van den Heever, an expert on healthcare governance at the University of the Witwatersrand in Johannesburg, to FORBES AFRICA. “The aim is to ensure that somehow that both the public and private services are of an equivalent standard of care… and that is beyond the capacity of this government at this point in time.”</p>



<p>The South African healthcare system has been grappling with a stark divide for decades. Public healthcare infrastructure has been marred reportedly by poor service delivery and corruption, as evidenced by challenges in Tembisa Hospital procurement, the closing of Charlotte Maxeke Academic Hospital, and continued staffing and supply issues at Chris Hani Baragwanath Academic Hospital, to name a few.</p>



<p>In contrast, private medical aid services have filled this gap, collaborating with private hospitals to provide world-class medical care, albeit at exorbitant rates. The cost of private healthcare has become a significant burden on the South African economy, with the average South African medical aid subscriber paying over $100 per month in a country where the average person earning minimum wage makes around $400 per month.</p>



<p>The NHI, first announced as part of the ANC ruling party’s national conference in 2007 and later introduced to Parliament in 2019, passed earlier this year. The legislation seeks to address the disparities between public and private health, envisioning a state-run medical insurance scheme that leverages both public and private facilities and resources, thereby ensuring that individuals seeking healthcare have access to the same facilities and benefits as those enrolled in private medical schemes.</p>



<p>“The issue we have with the current proposal of the NHI… is Section 33 of the bill, which states that once the NHI is fully implemented, medical schemes would no longer be allowed to provide any cover that is provided by the NHI,” said Discovery Health CEO Ryan Noach in an interview with BizNews last week.</p>



<p>Discovery Health accounts for 40% of South Africans with medical insurance. “It’s not because we have an aversion to government business, but rather because we believe their chosen contracting model doesn’t align with our fully integrated approach to administration and managed care services.”</p>



<p>The bill has raised several concerns among critics and private sector medical providers.</p>



<p>Further critiques include the vague wording of the bill itself, with little clarity as to the &#8220;basic healthcare services&#8221; to be rendered, and how it will be funded as per &#8220;mandatory prepayment&#8221;, neither of which are officially defined.</p>



<p>However, a government factsheet recently surfaced indicating that funding for the NHI might be sourced from a mandatory private income tax as well as payroll tax, without specifying what taxation rates might be levied. The 2015 whitepaper on the NHI provides possible indicative tax rates of payroll and personal income, ranging from 1% to 4% for payroll and a surcharge on taxable income across different scenarios over the next five years.</p>



<p>Van den Heever drives home the challenges of this method of financing for the NHI, stating that the 2015 whitepaper is threadbare and lacks crucial financial analysis. Moreover, payroll taxes and income surcharges are likely to place a further burden on an already strained tax base, the middle class – not high-income tax earners, who primarily earn through dividends and other instruments. “Tax dymanics come in to play,” says Van den Heever. “When you overburden your tax base and you increase tax rates too high, you actually get less revenue.”</p>



<p>Healthcare in South Africa is in need of improvement – the country currently spends around 8.5% of its Gross Domestic Product on healthcare, with the lion&#8217;s share of this funding going to private medical insurance–while such insurance services less than 20% of the population according to recent Council for Medical Schemes Data. This trend runs counter to global movements towards universal care and mirrors circumstances in countries such as the United States, where healthcare has become a prohibitive expense.</p>



<p>The NHI aims to correct this imbalance, aligning with the country&#8217;s commitment to Universal Health Care as part of the 2030 National Development Plan. However, experts such as Van den Heever do not believe that the NHI is the place to begin. “Nothing in the NHI proposals is going to change what’s going on… what the government wants to do is raise taxes and allocate that into the system, while they’ve done nothing about corruption.”</p>



<p>The South African government’s position remains firmly committed to the NHI’s implementation; “Government considers the passing of the NHI Bill by the National Assembly as a key milestone to ensure all the people of South Africa have access to the same clinic or hospital,” said Minister of Health Joe Phaahla in a recent press release.</p>



<p>However, there is as yet little clarity as to how this implementation will occur.</p>



<p>With historical inequality deeply ingrained in healthcare along economic and racial lines, it’s no question that the issue of health services in the country needs redress, as per rights declared in the country’s constitution. However, with a lack of clarity in law, the future of the bill once it becomes practice remains uncertain.</p>


Cholera Outbreak In Hammanskraal

A Step Towards Equitable Healthcare In South Africa But Concerns Around Implementation


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Khabane “Khaby” Lame, known for TikTok videos in which he silently mocks complicated &#8220;life hack&#8221; videos, holds the title of&nbsp;<a href="https://www.tiktok.com/@khaby.lame?lang=en" target="_blank" rel="noreferrer noopener">most followed TikToker</a>&nbsp;for the first half of the year with more than 160,500,000 followers, holding his lead of about 10 million followers over dancer and social media personality Charli D’Amelio.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Lame, a Senegalese-Italian social media personality, got popular on the short video app for duetting “life hack” videos and silently either making fun or simply showing a simpler way to address the issue “solved” by the hack.</p>



<p>Lame passed D’Amelio as the most followed TikToker in June 2022 and has held the title since then.</p>



<p>Since achieving fame on social media, Lame has been named a&nbsp;<a href="https://www.nbcnews.com/pop-culture/khaby-lame-worlds-followed-tiktok-creator-joins-italias-got-talent-jur-rcna73112" target="_blank" rel="noreferrer noopener">judge</a>&nbsp;on&nbsp;<em>Italia’s Got Talent</em>, signed a multi-year&nbsp;<a href="https://peopleofcolorintech.com/front/tiktok-star-khaby-lame-signs-multiyear-deal-with-the-hugo-boss/" target="_blank" rel="noreferrer noopener">contract</a>&nbsp;with Hugo Boss and has a voice&nbsp;<a href="https://leganerd.com/2022/11/04/black-panther-wakanda-forever-khaby-lame-ha-un-cameo-vocale-nella-versione-italiana/" target="_blank" rel="noreferrer noopener">cameo</a>&nbsp;in the Italian-dubbed version of&nbsp;<em>Black Panther: Wakanda Forever</em>.</p>



<p>On June 27, Lame presented his short film “I Am Khabane,” which documents Lame’s story of finding social media success, at the Taormina Film Festival in Italy.</p>



<h2 class="wp-block-heading" id="h-top-five-accounts">TOP FIVE ACCOUNTS</h2>



<p>As of June 29, these are the five TikTok accounts with the most followers, according to SocialTracker:</p>



<ol>
<li><a href="https://www.tiktok.com/@khaby.lame?lang=en" target="_blank" rel="noreferrer noopener">Khaby Lame</a>: 160,100,000</li>



<li><a href="https://www.tiktok.com/@charlidamelio?lang=en" target="_blank" rel="noreferrer noopener">Charli D’Amelio</a>: 150,700,000</li>



<li><a href="https://www.tiktok.com/@bellapoarch?lang=en" target="_blank" rel="noreferrer noopener">Bella Poarch</a>: 92,700,000</li>



<li><a href="https://www.tiktok.com/@addisonre?lang=en" target="_blank" rel="noreferrer noopener">Addison Rae</a>: 88,600,000</li>



<li><a href="https://www.tiktok.com/@mrbeast?lang=en" target="_blank" rel="noreferrer noopener">MrBeast</a>: 83,200,000</li>
</ol>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Lame, 23, first started posting TikToks in 2020 after being laid off from his job as a factory worker in the early days of the Covid-19 pandemic. His comedy videos have been praised for having an “everyman” appeal. In an interview with the&nbsp;<em>New York Times</em>, Lame&nbsp;<a href="https://www.nytimes.com/2021/06/02/style/khaby-lame-tiktok.html" target="_blank" rel="noreferrer noopener">said</a>&nbsp;his silent reactions to the absurd life hack videos he duets or stitches is a “global language” and that his “comedic facial expressions and the simplicity of his content” helped him grow into such a large influencer.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Though TikTok users are growing in popularity and the app is becoming a growing place for companies to reach new audiences and sell products, it still faces challenges and people fear the Chinese-owned app is collecting data from American users it could give that to the Communist Party. While there’s no nationwide ban on TikTok, the majority of American states—and Congress—have&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/04/15/montana-bans-tiktok-heres-why-its-probably-unenforceable/?sh=1e3d2e92b38b">banned</a>&nbsp;the app from government devices, and Montana recently became the first state to pass a&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2023/05/17/montana-governor-signs-tik-tok-ban-but-legal-challenges-are-expected/?sh=4c97c6da4dc9">law</a>&nbsp;banning the app completely. That law drew legal challenges from the&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2023/05/22/tik-tok-sues-montana-after-state-passes-law-banning-app/?sh=79b6c9865da1">company</a>&nbsp;and criticism from free speech advocates who argue the ban “unlawfully abridges one of the core freedoms guaranteed by the First Amendment.”</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>1.677 billion. That’s how many&nbsp;<a href="https://www.demandsage.com/tiktok-user-statistics/#:~:text=TikTok%20has%20over%201.677%20billion,are%20its%20monthly%20active%20users." target="_blank" rel="noreferrer noopener">users</a>&nbsp;TikTok has, and more than 1 billion of them are considered active monthly users, according to data intelligence company Demand Sage. In March, TikTok passed 150,000,000 American&nbsp;<a href="https://newsroom.tiktok.com/en-us/150-m-us-users" target="_blank" rel="noreferrer noopener">users</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.nytimes.com/2021/06/02/style/khaby-lame-tiktok.html" target="_blank" rel="noreferrer noopener">How Khaby Lame Took Over TikTok</a>&nbsp;(<em>New York Times</em>)</p>



<p><a href="https://www.socialtracker.io/toplists/top-10-tiktok-users-by-followers/" target="_blank" rel="noreferrer noopener">Top 10 Most Followed TikTok accounts in 2023</a>&nbsp;(SocialTracker)</p>



<p><a href="https://www.forbes.com/sites/mollybohannon/2023/05/17/montana-governor-signs-tik-tok-ban-but-legal-challenges-are-expected/?sh=4c97c6da4dc9">Montana Governor Signs TikTok Ban—But Legal Challenges Are Expected</a> (<em>Forbes</em>)</p>


69th Taormina Film Festival – Day 6

Khaby Lame—Known For Mocking ‘Life Hacks’—Top TikToker Of 2023


<p><strong>International MSME Day on June 27 recognizes that small businesses and self-employed workers are crucial to the growth and development of economies. We also speak with Jeremy Awori, Chief Executive Officer, Ecobank Group, on the importance of this day.</strong></p>



<p>Small and medium-size businesses (SMEs) are the lifeblood of Africa’s economy. They are responsible for more than 80% of the continent’s employment and 50% of the GDP, according to the World Economic Forum.</p>



<p>To celebrate the role played by micro, small and medium-sized enterprises and increase awareness of their contribution to the achievement of the Sustainable Development Goals (SDGs), the United Nations (UN) General Assembly designated 27 June as International MSME Day.</p>



<p>The UN recognizes that small businesses and self-employed workers are crucial to the growth and development of economies, saying that if adequately supported, MSMEs can “effectively contribute to the structural transformation of economies and drive inclusive, sustained, and equitable economic growth and jobs.”</p>



<p>“SMEs play a crucial role in Africa’s economic growth and development, especially when it comes to the creation of jobs which remains a significant problem across the continent,” says Jeremy Awori, Chief Executive Officer, Ecobank Group.</p>



<p>With operations in 33 African markets, the bank has made it a priority to nurture and contribute to the growth and success of African SMEs and encourage them to leverage trade opportunities.</p>



<p>The African Continental Free Trade Area (AfCFTA), a single, continent-wide market that unites 54 countries, offers significant opportunities on the continent. Among its aims are to scale African businesses through integration of regional value chains and to increase intra-African trade by 52.3% by 2030.</p>



<p>As an entrepreneur in the education sector, Catherine Awuor Oduor manages the operations of Jabali Schools in Kenya and is a Senior Finance Officer at African Union.</p>



<p>She is of the opinion that the private sector and policymakers working in partnership with the AfCFTA can open expansion and growth opportunities for SMEs.</p>



<p>“They have the potential to transform the economies and the continent as a dynamic force in the international arena,” Oduor says. “If policymakers can draft very good policies, this will help businessmen and businesswomen to ensure that their business flows without challenges. As we are aware 60% to 70% of women are involved in business and in the cross strait area. And therefore, if the laws are well-drafted and could favor women, women could do their business very well. Finally, the private sector plays a critical role in the development of Africa, and hence strategy ensures businesses across the continent have access to tools and partnerships, they will be able to play a key area in creating a resilient environment in the future.”</p>



<p>Financial institutions play a big role in easing the ability of SMEs, and especially women-owned SMEs, to grow and develop in the currently challenging environment, and ultimately to tap into cross continental trade.</p>



<p>Despite women-led enterprises making up about a third of all registered African small businesses, the financial gap between men and women remains.</p>



<p>According to the UN, women- and youth-owned enterprises are often most vulnerable and at risk of external shocks. On top of this, they have to deal with limited access to affordable finance, capacity-building support, partnership networks, and global markets. There are many challenges for them to overcome, resulting in many being confined to the informal sector and necessity entrepreneurship.</p>



<p>For Oduor, limited access to cash is one of the challenges for SMEs. “Right now the economy has really gone down. And many lending facilities are offering loans at high interest rates, and this has affected quite a number of businesses.”</p>



<p>In her experience, other challenges include access to technology, poor monitoring and evaluation systems to track feedback, market analysis and feasibility studies and setting up a good business plan.</p>



<p>“For SMEs in the informal sector, we assist them to transition to the formal sector to ensure they gain access to better growth opportunities,” says Ecobank’s Awori. “In addition to catering to their banking needs, we also provide SMEs essential non-financial support such as skills training. In recognition of the vital role of women, Ecobank has curated tailored solutions through our comprehensive Ellevate program, specifically designed for women entrepreneurs.”</p>



<p>For the UN, MSME Day will also focus on supporting resilient supply chains to ensure workers and the environment benefit and encourage policymakers and businesses to join forces to ensure economically viable, socially, and environmentally sustainable supply chains.</p>


Business owner hanging an open sign at a cafe

The Crucial Role Of MSMEs In The Economic Growth And Development Of Africa


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Novo Nordisk, Eli Lilly and Pfizer have all entered the race for FDA approval of a first-in-class oral weight loss and diabetes drug, and because pills are cheaper to manufacture, these oral weight loss drugs may signal a more affordable (and easier) alternative to drugs—like Ozempic, Wegovy and Mounjaro—that require injections.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Known generically as semaglutide,&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2022/12/26/what-to-know-about-ozempic/?sh=792660675adb">Ozempic</a>&nbsp;and Wegovy—both manufactured by Novo Nordisk—are weekly injections and glucagon-like peptide-1 (GLP-1) receptor agonists (a class of drugs used to treat diabetes).</p>



<p>Wegovy was&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-approves-new-drug-treatment-chronic-weight-management-first-2014" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;by the Food and Drug Administration for weight loss in 2021 and while Ozempic is only FDA&nbsp;<a href="https://www.fda.gov/media/110526/download" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;for use in type two diabetics, doctors regularly prescribe it off-label for weight management.</p>



<p>The popularity of both medications caused a&nbsp;<a href="https://www.accessdata.fda.gov/scripts/drugshortages/dsp_SearchResults.cfm" target="_blank" rel="noreferrer noopener">supply shortage</a>, with Novo Nordisk&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/05/05/wegovy-shortage-drug-maker-limits-distribution-heres-when-supplies-should-improve/?sh=2eaa52ab1fa4">limiting</a>&nbsp;Wegovy’s distribution of lower doses earlier this month to combat supply problems.</p>



<p>Manufactured by Eli Lilly,&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/01/31/diabetes-drug-mounjaro-expected-to-be-approved-for-weight-loss-soon-what-to-know-and-how-it-compares-to-similar-drugs/?sh=12d6194a477a">Mounjaro</a>&nbsp;(known generically as tirzepatide) is a weekly injection and also a GLP-1 receptor agonist, which works by controlling blood sugar—it was&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-approves-novel-dual-targeted-treatment-type-2-diabetes" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;for use in type two diabetics by the FDA in May 2022, though it’s also used off-label for weight loss.</p>



<p>The heightened popularity of weight loss medications has caused an increase in investor interest in the weight loss treatment market, which is&nbsp;<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/novo-nordisk-rivals-see-room-compete-100-bln-weight-loss-drug-market-2023-05-04/" target="_blank" rel="noreferrer noopener">estimated</a>&nbsp;to reach $100 billion by the end of the decade.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>On Sunday, Novo Nordisk presented findings from a new phase three trial that focused on oral semaglutide tablets. The&nbsp;<a href="https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(23)01185-6/fulltext" target="_blank" rel="noreferrer noopener">study</a>, published in the&nbsp;<em>Lancet,</em>&nbsp;lasted 68 weeks and followed 667 participants. 85% of the participants who took the semaglutide tablet lost at least 5% of their body weight compared to just 26% of those who took the placebo. On average, participants who took semaglutide saw a loss of about 15% of their body weight, around six times more than the placebo.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>69.9%. That’s how many Americans are either obese or overweight,&nbsp;<a href="https://www.hsph.harvard.edu/obesity-prevention-source/obesity-trends-original/obesity-rates-worldwide/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to&nbsp;<a href="https://www.hsph.harvard.edu/obesity-prevention-source/obesity-trends-original/obesity-rates-worldwide/" target="_blank" rel="noreferrer noopener">data</a>&nbsp;from the Harvard School of Public Health.</p>



<h2 class="wp-block-heading" id="h-rybelsus">RYBELSUS</h2>



<p>Rybelsus is manufactured by Novo Nordisk (which also makes Ozempic) and is a once-daily oral version of semaglutide. The drug was FDA&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-approves-first-oral-glp-1-treatment-type-2-diabetes" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;in 2019 for type two diabetes management and became the first GLP-1 receptor drug to gain approval for type two diabetics. In a late-stage&nbsp;<a href="https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=166110" target="_blank" rel="noreferrer noopener">study</a>&nbsp;released Monday, the manufacturer released the results from a 68-week trial with 667 adults who are either obese or overweight with one or more comorbidity. On average, participants lost 15.1% of their body weight after 68 weeks compared to 2.4% of body weight from those on the placebo. The results are similar to those from a Wegovy&nbsp;<a href="https://www.nejm.org/doi/full/10.1056/NEJMoa2032183" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in&nbsp;<em>The New England Journal of Medicine.&nbsp;</em>In that trial, participants saw an average change of body weight of 14.9% compared to a 2.4% change in the placebo group over a span of 68 weeks. The Rybelsus study, which has not been published in a peer-reviewed journal, acknowledged the side effects were comparable to the semaglutide injections, with mainly mild to moderate gastrointestinal adverse events (like nausea or diarrhea) being the most common side effect. These adverse events mainly occurred when the dosage was increased. Novo Nordisk plans to “file for regulatory approval in the US and the EU” this year with availability depending on manufacturing capacity and how it prioritizes its medications. Martin Holst Lange, executive vice president for development at Novo Nordisk said in the study the ability for consumers to pick between a once daily oral pill and weekly injection for obesity “has the potential to offer patients and healthcare providers the opportunity to choose what best suits individual treatment preferences.”</p>



<h2 class="wp-block-heading" id="h-danuglipron">DANUGLIPRON</h2>



<p>Pfizer published a&nbsp;<a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2805054" target="_blank" rel="noreferrer noopener">study</a>&nbsp;in&nbsp;<em>JAMA Network Open&nbsp;</em>on the effects of the drug danuglipron in type two diabetics. Similar to rybelsus, the drug is an oral GLP-1 receptor, but it’s taken twice daily as a pill. The trial included 422 people with type two diabetes and found danuglipron not only lowered blood sugar and hemoglobin A1C at all doses, but it also reduced body weight at the highest dosage. Participants on the 80 milligram pill saw weight loss of 4.5 pounds and those on the 120 milligram pill experienced weight loss of 9.2 pounds by the 16 week mark. The pill was administered to participants once in the morning and once in the evening, both times with food. The most common side effects were nausea, vomiting and diarrhea. Pfizer’s CEO Albert Bourla also explained the importance of an oral obesity pill at J. P. Morgan’s Health Conference,&nbsp;<a href="https://www.fiercepharma.com/marketing/pfizer-ceo-talks-experimental-oral-glp-1-diabetesobesity-hopeful-90b-lilly-novo-battle" target="_blank" rel="noreferrer noopener">saying</a>&nbsp;it’s “significantly more important…in the obese market than it is in the diabetic population.” Pfizer is also testing another oral medication called lotiglipron (though data isn’t available yet), but the company plans to choose only one of the drugs to advance into late-stage clinical trials in both diabetes and obesity, slated to begin in 2024, Barron’s&nbsp;<a href="https://www.barrons.com/articles/eli-lilly-novo-pfizer-stock-weight-loss-pills-dd516c95" target="_blank" rel="noreferrer noopener">reports</a>.</p>



<h2 class="wp-block-heading" id="h-orforglipron">ORFORGLIPRON</h2>



<p>Eli Lilly (the manufacturer of Mounjaro), has its own oral GLP-1 drug, orforglipron, that&nbsp;<a href="https://investor.lilly.com/static-files/c0604a2b-5e58-4f00-bb77-d25da59d991e" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to Eli Lilly, shows people without type two diabetes seeing weight reduction between 14% and 15% over the course of 36 weeks, whereas those with type two diabetes saw weight loss of about 9.6% over the same time frame. Orforglipron is in two trials slated to end in 2025,&nbsp;<a href="https://clinicaltrials.gov/ct2/show/NCT05803421" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to information posted on the U.S. National Library of Medicine’s Clinical Trials website. Evaluate Vantage&nbsp;<a href="https://www.evaluate.com/vantage/articles/news/corporate-strategy-snippets/lilly-steps-its-oral-obesity-push" target="_blank" rel="noreferrer noopener">reports</a>&nbsp;Eli Lilly admitted orforglipron won’t be as powerful as Mounjaro because the former is just a GLP-1 receptor agonist, whereas Mounjaro is a GLP-1 receptor agonist and a glucose-dependent insulinotropic polypeptide (GIP) receptor drug.&nbsp;<a href="https://www.yourhormones.info/hormones/glucose-dependent-insulinotropic-peptide/" target="_blank" rel="noreferrer noopener">GIP</a>&nbsp;is a hormone that helps with the release of insulin after food consumption. GIP receptors have been&nbsp;<a href="https://pubmed.ncbi.nlm.nih.gov/32459834/" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;to reduce weight gain and cause weight loss in animals including nonhuman primates. According to a&nbsp;<a href="https://www.nejm.org/doi/full/10.1056/NEJMoa2206038" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in&nbsp;<em>The New England Journal of Medicine,&nbsp;</em>participants lost up to 22.5% of their body fat after 72 weeks on Mounjaro. Orforglipron’s side effects haven’t yet been made available, but Mounjaro’s most common&nbsp;<a href="https://www.mounjaro.com/how-to-use-mounjaro" target="_blank" rel="noreferrer noopener">side effects</a>&nbsp;include nausea, diarrhea, vomiting, constipation, stomach pain and indigestion.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>According to a&nbsp;<a href="https://www.nps.org.au/australian-prescriber/articles/oral-or-intravenous-antibiotics" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in the&nbsp;<em>Australian Prescriber&nbsp;</em>that compares oral antibiotics to injectable antibiotics, it was found oral drugs were cheaper to manufacture than the injectable ones. A&nbsp;<a href="https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2018.05147" target="_blank" rel="noreferrer noopener">report</a>&nbsp;published in&nbsp;<em>Health Affairs&nbsp;</em>estimated the cost of oral medication rose by 9% between 2008 and 2016, whereas injectable drugs rose by 15% in the same time frame. This signals the potential approval of oral weight loss medication may be a cheaper, more affordable option than the already available injectables.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2023/05/05/wegovy-shortage-drug-maker-limits-distribution-heres-when-supplies-should-improve/?sh=2eaa52ab1fa4">Wegovy Shortage: Drug Maker Limits Distribution—Here’s When Supplies Should Improve</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2022/12/26/what-to-know-about-ozempic/?sh=6d645b6b5adb">What To Know About Ozempic: The Diabetes Drug Becomes A Viral Weight Loss Hit (Elon Musk Boasts Using It) Creating A Shortage</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2023/01/31/diabetes-drug-mounjaro-expected-to-be-approved-for-weight-loss-soon-what-to-know-and-how-it-compares-to-similar-drugs/?sh=21c4eb23477a">Diabetes Drug Mounjaro Expected To Be Approved For Weight Loss Soon: What To Know And How It Compares To Similar Drugs</a> (Forbes)</p>


African American man pouring medications out of a bottle into his hand.

Ozempic As A Pill: Drug Makers Race For Cheaper Weight Loss Drugs (Without The Shots)


<p><strong>Sebastian Negri will go to the Rugby World Cup with Italy but was born in Zimbabwe and raised in South Africa. He will be key for the side, where they have a tough pool that includes hosts France and powerhouse New Zealand.</strong></p>



<blockquote class="wp-block-quote has-text-align-center is-layout-flow wp-block-quote-is-layout-flow">
<p>“When you get an opportunity later in life to represent those people who have helped you along the way, that adds passion and desire to make them proud.”</p>
</blockquote>



<p>Sebastian Negri’s family were forced off their farm in Zimbabwe literally overnight, fleeing as gunshots rang around them, a memory that remains vivid for the then eight-year-old.</p>



<p>But that trauma set Negri on a path that would ultimately see the flanker capped by Italy at international level as he prepares to play in his second Rugby World Cup in France later this year.</p>



<p>It has been a long road to this point, his family found refuge in South Africa having been assisted financially by Italian relatives, and he was able to attend the prestigious Hilton College in the KwaZulu-Natal Midlands in South Africa.</p>



<p>Initially he hoped to be an international cricketer, but as he kept growing he realized rugby was the game that could take him places, and it certainly has.</p>



<p>He was signed after school by Cape Town-town based Western Province, but the lure of playing for the Italian national team set him on the path to where he is now.</p>



<p>Zimbabwe was never really an option because the level they play at is so low, but he could have pushed to play for South Africa’s Springboks. He would have followed in the footsteps of former prop Tendai ‘Beast’ Mtawarira if he had followed that path, while another Zimbabwean, David Pocock, had a distinguished career with Australia.</p>



<p>However, his heritage and the memory of how those Italian relatives had helped his family in their most difficult moment spurred him on to represent the Azzurri.</p>



<p>“My coach at Hilton College was Brad MacLeod-Henderson, who spent time playing in Italy and is very close with (Durban-born former Italy international) Roland de Marigny,” Negri tells FORBES AFRICA. “We stayed in touch and when I was contracted by Western Province after school, that interest (from Italy) grew.</p>



<p>“My hunger for playing for Italy also grew, and that became my biggest dream. When I was at Western Province, I got invited to a few camps over here (Italy) and the rest is history.</p>



<p>“Our family in Italy were there for us when we needed them. A lot of South Africans and Zimbabweans were also there for us. When you get an opportunity later in life to represent those people who have helped you along the way, that adds passion and desire to make them proud.”</p>



<p>Negri made his debut for Italy in 2016 and played against Canada and South Africa at the 2019 World Cup in Japan.</p>



<p>Now established as a regular in the team, and one of the more senior players as he approaches 50 caps, he will be key for the side at this year’s World Cup, where they have a tough pool that includes hosts France and powerhouse New Zealand.</p>



<p>“It&#8217;s always going to be tough for us,” Negri says. “The expectation probably is for us to get knocked over by the two big teams. But, you know, we&#8217;ve got to have that mindset and belief that we can go to the World Cup and cause upsets.</p>



<p>“We must continue with the way we playing, believe in what we&#8217;re doing. Then anything can happen, the bounce of the ball. There&#8217;s a firm belief in the group that we can knock over a big team.</p>



<p>“We proved that in the Six Nations, we&#8217;ve came very close to beating Ireland and France. One or two decisions go our way, or one or two moments in the game, and the result looks different.”</p>



<p>Italy were seen as whipping boys a few years ago, but the arrival of New Zealand coach Kieran Crowley, and the emergence of players like Negri, has turned them into a side every major power will be wary of, as recent wins over Wales and Australia show.</p>



<p>“There’s been a big mindset change over the last 12 to 18 months, and especially since Kieran has come in. Before that we had a difficult couple of years, but I think we&#8217;re on the right track, we&#8217;re starting to get that respect and credibility back,” Negri says.</p>



<p>“Why can&#8217;t we beat France or New Zealand? I think it&#8217;s important that we focus on ourselves and that we don&#8217;t worry too much about what other people are saying.</p>



<p>“There&#8217;s a firm belief in the group, it&#8217;s a really positive environment to be in. And we&#8217;re just going to go out there and, as Kieran always tells us, give it everything you&#8217;ve got and whatever happens, will happen.”</p>


Italy Team Run

‘Why Can’t We Beat France Or New Zealand?’: Africa-Born Rugby Player On The World Cup Later This Year


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Coast Guard Capt. Jamie Frederick said Wednesday afternoon a team of experts is analyzing banging sounds that were picked up earlier Wednesday and late Tuesday, but the search mission for the Titan submersible—which has five passengers and disappeared Sunday—has not yielded any other signs of the missing vessel.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>A Canadian airplane picked up “<a href="https://www.forbes.com/sites/siladityaray/2023/06/21/canadian-maritime-surveillance-plane-detected-underwater-noises-in-titanic-sub-search-area/?sh=3da0017845be">underwater noises</a>&nbsp;in the search area,” Frederick said, leading authorities to direct many of their search efforts around the area where the sound was heard.</p>



<p>The sounds are being analyzed by experts, but their source has not yet been identified.</p>



<p>The search area has been almost doubled in size since the Coast Guard last&nbsp;<a href="https://www.forbes.com/sites/katherinehamilton/2023/06/20/titanic-sub-has-40-hours-of-oxygen-left-as-authorities-search-area-the-size-of-connecticut/?sh=68719d8b4fc7">addressed</a>&nbsp;the public Tuesday afternoon, and is now incorporating an area twice the size of Connecticut.</p>



<p>Frederick declined to give a timeline for how much longer the crew would search for the submersible, and clarified the mission is still “100%” a search-and-rescue attempt and not yet a recovery mission.</p>



<p>He also shared the team’s thoughts and prayers with the families of the <a href="https://www.forbes.com/sites/katherinehamilton/2023/06/20/what-we-know-about-the-passengers-on-the-missing-titanic-submersible/?sh=1a20a8212d21">five people onboard</a> the Titan.</p>



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">The sound from TITAN 📣<a href="https://twitter.com/hashtag/OceanGate?src=hash&amp;ref_src=twsrc%5Etfw">#OceanGate</a> The five people stuck inside the Titanic submarine 🥺<br><br>Paul-Henry Nargeolet, 73<br>Stockton Rush, 61<br>Hamish Harding, 58<br>Shahzada Dawood, 48<br>Sulaiman Dawood, 19<a href="https://twitter.com/hashtag/TitanicRescue?src=hash&amp;ref_src=twsrc%5Etfw">#TitanicRescue</a> <a href="https://twitter.com/hashtag/titanicsubmarine?src=hash&amp;ref_src=twsrc%5Etfw">#titanicsubmarine</a> <a href="https://twitter.com/hashtag/OceanGate?src=hash&amp;ref_src=twsrc%5Etfw">#OceanGate</a> <a href="https://twitter.com/hashtag/OceanGateExpeditions?src=hash&amp;ref_src=twsrc%5Etfw">#OceanGateExpeditions</a> <a href="https://twitter.com/hashtag/submarinemissing?src=hash&amp;ref_src=twsrc%5Etfw">#submarinemissing</a> <a href="https://t.co/JftL3c6GU1">pic.twitter.com/JftL3c6GU1</a></p>&mdash; Abdullah Attique (@abooodddiii) <a href="https://twitter.com/abooodddiii/status/1671654454783885312?ref_src=twsrc%5Etfw">June 21, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The Titan had 96 hours of life support, which means the passengers likely have less than 24 hours of air remaining. Coast Guard Rear Adm. John Mauger&nbsp;<a href="https://www.bbc.com/news/live/world-us-canada-65967464?ns_mchannel=social&amp;ns_source=twitter&amp;ns_campaign=bbc_live&amp;ns_linkname=64931083f2e5745fd8a78178%26Oxygen%20will%20run%20out%20tomorrow%20morning%2C%20admiral%20says%262023-06-21T15%3A03%3A43.030Z&amp;ns_fee=0&amp;pinned_post_locator=urn:asset:b44431e1-1f73-4df6-8b03-204415f94808&amp;pinned_post_asset_id=64931083f2e5745fd8a78178&amp;pinned_post_type=share" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the BBC on Wednesday that rescue crews are assuming they have until Thursday morning to find the submersible with its occupants still alive. But the oxygen “is just one piece of data” the team is considering in its time line for how much longer to search, Frederick said. The submersible&nbsp;<a href="https://www.forbes.com/sites/katherinehamilton/2023/06/19/5-reportedly-missing-after-titanic-wreck-tourism-vessel-disappears-in-atlantic/?sh=777119a57190">went missing</a>&nbsp;shortly after it dove at 4 a.m. Sunday morning off the coast of Newfoundland, Canada, to view the wreck of the R.M.S.<em>&nbsp;Titanic&nbsp;</em>more than 2 miles underwater.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/siladityaray/2023/06/21/canadian-maritime-surveillance-plane-detected-underwater-noises-in-titanic-sub-search-area/?sh=3da0017845be">‘Underwater Noises’ Detected In Titanic Sub Search By Canadian Military Plane</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/katherinehamilton/2023/06/20/what-we-know-about-the-passengers-on-the-missing-titanic-submersible/?sh=1a20a8212d21">What We Know About The Passengers On The Missing Titanic Submersible</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/katherinehamilton/2023/06/19/5-reportedly-missing-after-titanic-wreck-tourism-vessel-disappears-in-atlantic/?sh=777119a57190">5 Reportedly Missing After Titanic Wreck Tourism Vessel Disappears In Atlantic</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/katherinehamilton/2023/06/20/titanic-sub-has-40-hours-of-oxygen-left-as-authorities-search-area-the-size-of-connecticut/?sh=68719d8b4fc7">Titanic Sub Has 40 Hours Of Oxygen Left As Authorities Search Area The Size Of Connecticut</a>&nbsp;(Forbes)</p>


Bahamian research vessel arrived in the search area for the OceanGate Titan Submersible

Titan Sub Search-And-Rescue Still ‘100%’ On—But Just Hours Of Oxygen Left In Vessel


<p><strong>South Africa, Denmark, and the Netherlands have launched SA-H2, a $1 billion fund to bolster green hydrogen projects in South Africa. The fund, backed by major financiers, signifies a shared commitment to sustainable energy and a belief in green hydrogen&#8217;s critical role in a future low-carbon economy.</strong></p>



<p>In an unprecedented alliance, South Africa, the Netherlands, and Denmark have unveiled a joint fund – the SA-H2 – dedicated to bolstering green hydrogen initiatives in South Africa, tapping into its abundant wind and solar resources. The fund, totaling $1 billion, was launched in Pretoria, South Africa yesterday, with an initial seeding of $50 million from the Dutch investment body, Invest International.</p>



<p>The remainder of the fund is set to be raised over the subsequent two years, with numerous stakeholders including the Development Bank of Southern Africa, Industrial Development Corporation, and insurance firm Sanlam stepping up to support the cause. The fund will be expertly managed by the Dutch Climate Fund Managers.</p>



<p>In his address, delivered beside the Prime Ministers of the Netherlands and Denmark, Mark Rutte and Mette Frederiksen respectively, President Ramaphosa acknowledged the urgent need to tackle South Africa&#8217;s electricity crisis and stressed the critical role of renewable energy in achieving long-term energy security. While acknowledging that the current loadshedding crisis in the country necessitates reliance on its current coal fleet, the fund is nevertheless a move toward more sustainable source of energy.</p>



<p>“From solar to biogas, from wind to battery storage, these investments are leading one of the most important growth industries in our country” said Ramaphosa.</p>



<p>The fund is expected to stimulate significant advancements in the green hydrogen sector, offering early investment opportunities in a technology set to play a transformative role in achieving global emission reduction targets. These investments are likely to be lucrative, given that South Africa’s COP27 presentation revealed the country is targeting $250 billion in green hydrogen investment by the year 2050.</p>



<p>Emphasizing the spirit of collaboration underpinning the fund, Ramaphosa highlighted the diversity of the SA-H2&#8217;s support base, extending beyond state entities and private sector players to include organized labor and NGOs, with all parties hoping for productive social and economic gains, alongside the environmental benefits.</p>



<p>“… that is the true architecture of our cooperation in our country” continued Ramaphosa, “… and it reinforces our view that these developments need to be inclusive, and needs to benefit all within society.”</p>



<p>While the Netherlands and Denmark are not presently part of the Just Energy Transition Partnership (JETP), they have indicated a supportive stance toward its objectives, and discussions to join the alliance are underway.</p>



<p>The launch also witnessed the signing of a memorandum of understanding on green hydrogen between South Africa and the Netherlands. Additionally, an agreement was inked to expand an existing energy partnership between Denmark and South Africa. A finance package for water-related public infrastructure, announced by Invest International, rounded off the day&#8217;s commitments.</p>



<p>These collaborative efforts signify a collective commitment to combating climate change and a shared belief in green hydrogen&#8217;s potential to revolutionize the future energy landscape, with the launch of the SA-H2 fund represents a significant leap toward a sustainable energy future for South Africa.</p>


President Ramaphosa Welcomes Prime Minister Mark Rutte And Mette Fredeiksen In Pretoria

Going Green Together–Netherlands, Denmark and South Africa’s Landmark Green Hydrogen Fund


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Drugmaker GSK <a href="https://www.gsk.com/en-gb/media/press-releases/gsk-shares-positive-data-for-arexvy-its-respiratory-syncytial-virus-older-adult-vaccine-indicating-protection-over-two-rsv-seasons/" target="_blank" rel="noreferrer noopener">said</a> Wednesday its RSV vaccine gave long-term protection in older adults after a single shot, according to results from its late stage clinical trial, promising news for efforts to combat the common and potentially lethal infection.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>GSK said the shot, which is designed to protect adults ages 60 and older and is marketed as Arexvy, conveyed strong protection against lower respiratory tract disease and severe disease from RSV over two full seasons.</p>



<p>The findings, which have yet to be fully published, come from the company’s late stage trial of around 25,000 people testing the safety and efficacy of a single dose of Arexvy against RSV, a very common respiratory infection that normally only causes mild, cold-like illness in healthy adults but can trigger severe, possibly fatal, disease in older adults, young infants and those with underlying health conditions.</p>



<p>Lasting protection was also observed in people with underlying health conditions or of advanced age, GSK said, a particularly important finding given the vulnerability of these groups following infection.</p>



<p>Tony Wood, GSK’s chief scientific officer, said the result “reinforces our confidence in [the vaccine’s] potential to make a significant public health impact.”</p>



<p>Other data, notably the shot’s safety and ability to provoke an immune response, were consistent with earlier observations from the trial, which showed the shot to be safe and have side effects in line with other vaccines.</p>



<h2 class="wp-block-heading" id="h-what-we-don-t-know">WHAT WE DON’T KNOW</h2>



<p>It’s not clear how often people will need to be vaccinated against RSV and the seasonal nature of the virus—similar to what happens with flu—suggests vaccines could be yearly. This is still an open question and one that will be guided over time by public health policy, real-world data and other concerns in addition to clinical trial data. GSK evaluated an annual revaccination schedule in around half of its trial participants. The findings were similar to those who had only received the one shot and suggested “revaccination after 12 months does not appear to confer additional benefit for the overall population,” GSK said. The company said it will continue to “evaluate longer term follow up” and assess the “optimal timing for potential revaccination.”</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>The Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices is set to&nbsp;<a href="https://www.cdc.gov/vaccines/acip/meetings/downloads/agenda-archive/agenda-2023-06-21-23-508.pdf" target="_blank" rel="noreferrer noopener">meet</a>&nbsp;Wednesday. The group, comprised of vaccine and public health experts, meets regularly to discuss the science surrounding vaccines and infectious diseases and develop guidelines for how vaccines should be administered to the civilian population. These guidelines form the basis of official immunization schedules. RSV vaccines for older adults are on the agenda and talks will determine how they are rolled out for the very first time. There are now&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2023/05/03/fda-approves-first-ever-rsv-vaccine-after-brutal-2022-season/?sh=505f124410b2">two</a>&nbsp;<a href="https://www.forbes.com/sites/roberthart/2023/06/01/fda-approves-pfizers-rsv-vaccine-for-older-adults-it-could-be-available-this-fall/?sh=8ef1bb335ca2">authorized</a>&nbsp;shots intended to protect older adults from RSV, both of which were only approved this year after years of setbacks. GSK’s shot was the first to gain clearance, followed closely by Pfizer’s shot, Abrysvo. FDA advisors have&nbsp;<a href="https://www.forbes.com/sites/roberthart/2023/05/18/rsv-vaccine-fda-advisors-recommend-pfizer-shot-to-protect-infants-from-infection-heres-what-to-know/?sh=4e0f12523859">recommended</a>&nbsp;the agency clear Pfizer’s shot for use in pregnant people to protect infants in their first months of life.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/roberthart/2023/06/01/fda-approves-pfizers-rsv-vaccine-for-older-adults-it-could-be-available-this-fall/?sh=8ef1bb335ca2">FDA Approves Pfizer’s RSV Vaccine For Older Adults—It Could Be Available This Fall</a>&nbsp;(Forbes)</p>



<p><a href="https://qz.com/rsv-vaccine-pfizer-global-south-1850401425" target="_blank" rel="noreferrer noopener">Pfizer&#8217;s RSV vaccine promise to the Global South is already several years behind schedule</a>&nbsp;(Quartz)</p>


Human respiratory syncytial virus inoculation

RSV Vaccine For Adults Gives Long-Term Protection, GSK Says After Late-Stage Trial


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>A sweeping climate report released Monday says Europe is the world&#8217;s fastest-warming continent, which has contributed to violent wildfires, drought conditions and a rise in heat-related deaths over the last several years.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Europe&#8217;s temperatures are increasing at twice the global average rate of 1.2 degrees Celsius, according to the most recent&nbsp;<a href="https://climate.copernicus.eu/esotc/2022/european-state-climate-2022-summary" target="_blank" rel="noreferrer noopener">European State of the Climate</a>&nbsp;report, and have been since the 1980s.</p>



<p>2022 brought a spring and summer drought through much of Europe; record-breaking heat; wildfires in the Czech Republic, France, Portugal, Slovenia, Spain and the U.K.; and a record loss of glacier ice from the European Alps.</p>



<p>More than 16,000 people died last year from severe heat in Europe, and about $2 billion in damages were attributed to floods and storms brought by weather and climate extremes,&nbsp;<a href="https://uk.news.yahoo.com/europe-worlds-fastest-warming-continent-112322072.html?guccounter=1" target="_blank" rel="noreferrer noopener">Yahoo News</a>&nbsp;reported.</p>



<p>European economies and ecosystems took a big hit due to the unprecedented climate change, the report said—the Iberian Peninsula, which provides water to Spain, saw its fourth drier-than-average year in a row; dry conditions hit farmers in France and Germany, which saw a lower-than-average cereal and grape yield; and glaciers saw a new record mass loss for a single year.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The Earth has been warming at an unprecedented rate since the mid-1800s, when the industrial revolution introduced a skyrocketing usage of fossil fuels and other climate-harming behaviors that kicked off a warming rate not seen in the past 10,000 years,&nbsp;<a href="https://climate.nasa.gov/evidence/" target="_blank" rel="noreferrer noopener">according to NASA</a>. Widespread and rapid changes in the atmosphere, ocean and biosphere have occurred since, and Monday’s report says Europe is now 2.3 degrees Celsius hotter than it was in pre-industrial times. A relatively recent shift to prioritizing climate solutions has politicians and global organizations pushing for greener alternatives to harmful energy sources like coal and oil, and the 2015 Paris Accords has 195 member nations focused on cutting roughly 50% of emissions by 2030.</p>



<p>Environmentalists demonstrate during the World Climate Change Conference 2015 (COP21) on December&nbsp;&#8230; [+]<small>GETTY IMAGES</small></p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>30%. That&#8217;s how many more warm days occurred in Europe in 2022 than in the average year. Temperatures were 7 to 10 degrees Celsius warmer than average for seven of the 12 months in 2023, and in July temperatures reached 40 degrees Celsius (104 degrees Fahrenheit) for the first time on record in the U.K.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Hotter days, bigger wildfires and more frequent floods. The State of the Climate report says the trend of high temperatures and drought will allow fires to burn hotter for longer periods of time. In addition, rainfall in months when snow is more common can lead to ice melt and increased flooding, as seen in Greenland last fall.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>The climate report was released on the same day President Joe Biden is expected to launch more than $600 million worth of new climate change initiatives. On a three-day visit to California that starts Monday, Biden is&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2023/06/19/biden-launching-new-600-million-climate-change-initiative-focused-on-great-lakes-and-coasts/?sh=411cc2e3749d">expected to announce&nbsp;</a>a $575 million National Oceanic and Atmospheric Administration project to help coastal and Great Lakes communities become more resilient to climate change and a $67 million investment for California to modernize its electric grid.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/maryroeloffs/2023/06/19/biden-launching-new-600-million-climate-change-initiative-focused-on-great-lakes-and-coasts/?sh=411cc2e3749d">Biden Launching New $600 Million Climate Change Initiative—Focused On Great Lakes And Coasts&nbsp;</a>(Forbes)</p>



<p><a href="https://www.forbes.com/sites/indiarice/2023/06/17/current-climate-demand-for-oil-will-peak-by-the-end-of-the-decade/?sh=561c084a55df">Current Climate: Demand For Oil Will Peak By The End Of The Decade</a>&nbsp;(Forbes)</p>



<p><a href="https://www.irishtimes.com/environment/climate-crisis/2023/06/19/climate-change-is-scarring-europe-and-southern-countries-most-of-all/" target="_blank" rel="noreferrer noopener">Climate change is scarring Europe, and southern countries most of all </a>(<em>Irish Times</em>)</p>


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