Friday, 7 Aug 2020

Beyond Meat to sell patties in mainland China through Freshippo stores

DURECT Begins Patient Recruitment In Phase 2 Study Of DUR-928 In COVID-19 Patients

DURECT Corp. (DRRX) has initiated recruiting patients for its placebo-controlled, multi-center Phase 2 study to evaluate the safety and efficacy of DUR-928 in hospitalized COVID-19 infected patients with acute liver or kidney injury. The trial will enroll approximately 80 patients. The primary efficacy endpoint is a composite of being alive and free of acute organ failure at day 28.

“Based on the positive clinical results of DUR-928 in Alcoholic Hepatitis patients from our Phase 2a trial, and our preclinical data in multi-organ failure models, we believe that DUR-928, in combination with standard of care, has the potential to help COVID-19 patients with acute liver or kidney injury,” said James Brown, CEO of DURECT.

Schnitzer Steel Expects To Report Results In Single Operating Segment In Q1 2021

While reporting its third-quarter financial results on Wednesday, Schnitzer Steel Industries, Inc. (SCHN) it is transitioning from its multi-divisional organizational structure to a functionally-based, integrated operating model, as it announced last quarter. The company noted that the transition will reflect the culmination of a multi-phase organizational development strategy over the last several years.

Schnitzer Steel will consolidate its operations, sales, services and other functional capabilities at the enterprise level.

This new structure will result in a more agile organization and solidify the productivity improvement and cost reduction initiatives announced at the start of this fiscal year that have been substantially implemented, Schnitzer Steel noted.

The company expects to complete this transition and report its financial results in a single operating segment in the first quarter of fiscal 2021.

FCA US Q2 Sales Down 39% – Quick Facts

FCA US LLC reported that its second-quarter sales were 367,086 vehicles, a 39 percent decline over the same period a year earlier, as the economic havoc caused by the COVID-19 pandemic in April was partially offset by the stronger than expected retail sales rebound in May and June.

About 20 percent of new sales leads now come from online retailing compared with about 1 percent a year earlier.

Chrysler Brand sales for the quarter dropped 58 percent to 13,856 vehicles from the prior year.

Fiat Brand sales for the quarter also 54 percent to 1,339 vehicles from the previous year.

Swiss to Impose Quarantine on Travelers from High-Risk Countries

Switzerland will impose a 10-day quarantine on people arriving from countries with high Covid-19 infection rates after an increase in cases in recent weeks.

The requirement will come into effect on July 6 and the country’s health authority will publish a list of affected countries, the government said on Wednesday. Swiss Interior Minister Alain Berset said Sweden and Serbia might be on the list.

The government also said it will follow a move by the European Union to lift travel restrictions on 15 countries, but will only implement the change on July 20.

Visitors from China will also be allowed to enter, provided reciprocity is guaranteed for travelers from Switzerland.

Also in reaction to the rising number of infected people, the government made face masks compulsory on all public transport from July 6. The number of infected rose by 137 on Wednesday, the biggest increase since April 30.

“So far, the urgent recommendation in public transport was to wear a mask at peak times. However, this was hardly followed,” the government said, adding it was acting in accordance with expert advice and the wishes of some of the Swiss cantons.

PHOTOS: Activists voice concerns about Aurora Police as city council meeting moved online – The Denver Post

By Kevin Mohatt, Special to the Denver Post

Activists gathered to voice their concerns about the Aurora Police Department after the Aurora City Council moved a council meeting to a virtual setting in the aftermath of Elijah McClain’s death at the hands of Aurora Police and subsequent protests in Aurora, Colorado on June 30, 2020.

Tesla becomes most valuable automaker in latest stock rally

(Reuters) – Tesla Inc on Wednesday became the highest-valued automaker as its shares surged to new record highs and the electric carmaker’s market cap overtook that of former front runner Toyota Motors Corp.

Tesla shares gained more than 5% in early morning trade, reaching a new record of $1,133.95.

Beyond Meat to sell patties in mainland China through Freshippo stores

Demand driving up meat prices: Supermarket chain CEO

Stew Leonard’s President and CEO Stew Leonard on Memorial Day food sales and preventing meat shortages.

NEW YORK - Beyond Meat Inc said on Tuesday that it will launch retail sales of its plant-based burger patties in mainland China through Alibaba Group Holding Ltd’s Freshippo markets.

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KFC, PIZZA HUT TO SELL BEYOND MEAT PRODUCTS AT RESTAURANTS IN CHINA

Sales will begin this weekend at 50 stores in Shanghai, with plans to expand to 48 more stores in Beijing and Hangzhou in September. The patties will also be available on Freshippo’s mobile app for delivery.

WHAT IS BEYOND MEAT?

Earlier in June, Yum China Holdings Inc introduced Beyond’s burgers for a limited time at some of its KFC, Pizza Hut and Taco Bell locations.

Ticker Security Last Change Change %
BYND BEYOND MEAT INC. 148.00 +14.02 +10.46%
YUM YUM! BRANDS 87.58 +0.67 +0.77%

The partnerships come as plant-based meat makers, including Beyond rival Impossible Foods, seek to tap into the potentially lucrative mainland China market.

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