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Alibaba reports first-ever operating loss in 7 years due to anti-monopoly fine

Alibaba reports first-ever operating loss in 7 years due to anti-monopoly fine
The fine on Alibaba led to a 7.66-billion yuan ($1.19 billion) operating loss in the fourth quarter ended March 31
Reuters | May 14, 2021 | Updated 09:15 IST
China s top e-commerce platform Alibaba Group Holding Ltd on May 13 posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country s market regulator. Its US-listed shares fell nearly 3 percent in choppy trading, even as the company forecast strong 2022 revenue, betting that the pandemic-driven shift to online shopping will remain resilient.
The outlook, however, was overshadowed by a regulatory crackdown in China that led to the suspension of a $37-billion IPO of its affiliate Ant Group and a $2.8-billion fine in April for anti-competitive business practices. The fine led to a 7.66-billion yuan ($1.19 billion) operating loss in the fourth quarter ended March 31. ....

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COVID-19 crisis: COVAX urgently needs 20 million vaccines to cover supply disruption, says WHO

COVID-19 crisis: COVAX urgently needs 20 million vaccines to cover supply disruption, says WHO
COVAX urgently needs 20 million doses during the second quarter of 2021 to cover interruptions in supply triggered by increased demands for vaccines in India where COVAX s main supplier of the AstraZeneca product is based, according to WHO
PTI | May 4, 2021 | Updated 11:34 IST
COVAX, the global alliance to ensure equitable access to COVID-19 vaccines, urgently needs 20 million doses to cover interruptions in supply triggered by increased demands for jabs in India, which is the main supplier of the AstraZeneca vaccines, the World Health Organisation said on Monday.
Pune-based Serum Institute of India (SII), the world s largest vaccine-maker by volume, is manufacturing Covishield, the coronavirus vaccine developed by Oxford University and British-Swedish pharma major AstraZeneca. COVAX urgently needs 20 million doses during the second quarter of 2021 to cover interruptio ....

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Apple hires AI scientist Samy Bengio who left Google after colleagues' firings

Apple hires AI scientist Samy Bengio who left Google after colleagues firings
Samy Bengio is expected to lead a new AI research unit at Apple under John Giannandrea, senior vice president of machine learning and AI strategy
Reuters | May 4, 2021 | Updated 15:00 IST
Apple Inc said on Monday it has hired former distinguished Google scientist Samy Bengio, who left the search giant amid turmoil in its artificial intelligence research department.
Bengio is expected to lead a new AI research unit at Apple under John Giannandrea, senior vice president of machine learning and AI strategy, two people familiar with the matter said. Giannandrea joined Apple in 2018 after spending about eight years at Google. ....

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Coronavirus Vaccination: Rs 3,000 Crores Needed To Ramp Up Vaccine Production: Adar Poonawalla

Serum Institute CEO Adar Poonawalla spoke to NDTV on Tuesday evening
New Delhi:
Existing production capacity to manufacture Covishield, one of the two Covid vaccines being administered in India is very stressed, to put it frankly , Serum Institute of India (SII) CEO Adar Poonawalla told NDTV on Tuesday evening.
Mr Poonawalla said the SII - which produces between 60 and 65 million doses per month presently, has so far given around 100 million doses to the centre and exported 60 million - but is still short of being able to supply to every Indian who needs the vaccine.
The globe needs this vaccine. we are prioritising the needs of India (but) we are still short of being able to supply to every Indian, Mr Poonawalla said. ....

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Coronavirus Vaccine: Pakistan To Soon Get 'Made-In-India' Vaccines Under Global Alliance GAVI: Sources

India has been praised for supporting vaccine equity.
New Delhi:
Pakistan will soon get made-in-India coronavirus vaccines under the United Global Alliance for Vaccines and Immunization or GAVI, a public-private global health partnership to increase access to immunisation in poor countries.
Pakistan is one of the 92 lower-income economies eligible for support under the Gavi COVAX Advance Market Commitment (Gavi COVAX AMC), GAVI spokesperson told NDTV.
14.64 million doses of Covishield- developed by Pune-based Serum Institute of India - have been allotted for the country between February and May, the spokesperson said.
Adar Poonawalla s Serum Institute is the world s largest vaccine maker. Pakistan has logged over 5.95 lakh cases of coronavirus so far. ....

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