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Guess who is suing AstraZeneca

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It hasn’t been a great month for the AstraZeneca vaccine against COVID19. The vaccine was halted in many countries over blood clot fears.

Australia never received the doses it expected, and even the United States is offering up 60 million AstraZeneca doses to any countries that might want them.

But now, the European Union has taken it a step further – filing a lawsuit against AstraZeneca, raising the stakes in the spat between the drugmaker and the bloc’s 27 governments over vaccine deliveries.

The EU claims AstraZeneca failed to provide a “reliable strategy” to ensure timely delivery of vaccine doses,

.“We want to make sure that there’s a speedy delivery of a sufficient number of doses the European citizens are entitled to and which have been promised on the basis of this contract.”

European Commission spokesman Stefan De Keersmaecker

The main objective is to obtain the contracted number of doses, according to an EU official. Astra delivered just a quarter of the coronavirus vaccine doses that the EU was expecting in the first quarter, while it has revised downward its projections for shipments in this quarter.

The case was filed by the commission on its own behalf and on behalf of all 27 EU member states at the Brussels court.

The drugmaker has fired back:

“AstraZeneca has fully complied with the advance purchase agreement with the European Commission and will strongly defend itself in court.”

astrazeneca statement

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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