Business
US will ‘not make same mistake’ of giving India ‘China-like concessions’, says official – The Times of India
The United States will not extend to India the kind of sweeping economic concessions it once granted China, said Deputy Secretary of State Christopher Landau on Thursday, claiming that those incentives allowed China to emerge as a rival.Speaking at the Raisina Dialogue, India’s flagship conference on geopolitics and geoeconomics, Landau made it clear that while the US sees vast potential in India, it is approaching trade negotiations with greater caution than it did two decades ago with China. “While the US wants to work with India to unlock its ‘limitless potential,’ India should understand that ‘we are not going to make the same mistakes with India that we made with China 20 years ago,’” Landau said.His remarks come as the two sides work to finalise a trade agreement under negotiation since US President Donald Trump took office. Washington last month reduced tariffs on Indian goods to 18 per cent from 50 per cent after several rounds of talks.Like several other countries, New Delhi is navigating a global environment in which the US has increasingly deployed tariffs as leverage in broader geopolitical negotiations.At the same time, India is seeking to diversify its trade partnerships to reduce overdependence on any single market. It recently signed a trade deal with the European Union and has pursued agreements with other nations as part of efforts to expand market access and strengthen supply-chain resilience.Emphasising the scope for cooperation, Landau said, “It is in our interest and we think it is also in India’s interest to be partners. We have many many win-win situations with India.”Landau also offered US support in addressing India’s short- and long-term energy needs, particularly as supply disruptions linked to the Middle East crisis threaten fuel flows. He said Washington is prepared to work with New Delhi to mitigate risks arising from the evolving regional situation.India has so far avoided taking sides in the widening conflict even as it balances trade negotiations with strategic autonomy.
The supply chain risk designation of the artificial intelligence firm is a first for a US company.
Source link
Thomas Fuller | SOPA Images | Lightrocket | Getty Images
UniQure needs to run another study to prove that its gene therapy “actually helps people with Huntington’s disease,” a senior U.S. Food and Drug Administration official said on a call with reporters Thursday.
The official, who requested anonymity before discussing sensitive information, confirmed the agency has asked the company to run a placebo controlled trial of its treatment, which is administered directly into the brain. UniQure has said that type of study isn’t ethical because it would require putting people under general anesthesia for hours, a characterization the official disputed.
“So what is really going on? UniQure is the latest company to make a failed therapy for Huntington’s patients,” the official said. “They likely acknowledge or understand at some deep level that their trial failed years ago, and instead of doing the right thing and running the correct clinical study, UniQure is performing a distorted or manipulated comparison in the mind of FDA.”
The comments mark the latest development in a messy public spat between UniQure and the FDA, and as the agency comes under fire for a number of recent drug approval application rejections, including some where companies have accused it of going back on previous guidance. FDA Commissioner Marty Makary in an interview with CNBC’s Becky Quick last week seemingly criticized UniQure’s gene therapy for Huntington’s disease. Makary didn’t name UniQure but described its treatment.
UniQure then accused the FDA of reversing its stance that the company’s clinical trial data would be sufficient to seek approval. UniQure’s study used an outside database to measure how patients with Huntington’s disease might decline without treatment, known as an external control. UniQure has said it wouldn’t be feasible to run a true randomized, double-blind placebo-controlled study, considered the gold standard, because it wouldn’t be ethical to make people undergo a sham hours-long brain surgery.
The FDA official said the agency “never agreed to accept this distorted comparison” and the FDA “never makes such assurances.” Instead, the “FDA will always say, ‘Well, we have to see the data when we get it.'”
UniQure didn’t immediately comment.
The company’s stock rose more than 10% on Thursday and has fallen 58% this year as of Thursday afternoon.
Business
US mortgage rates rise to 6% after three-week slide as oil-driven bond yields climb – The Times of India
The average long-term US mortgage rate edged higher this week, ending a three-week decline as bond yields rose amid oil-price pressures linked to the war with Iran.The benchmark 30-year fixed mortgage rate increased to 6% from 5.98% last week, mortgage buyer Freddie Mac said on Thursday. A year ago, the average rate stood at 6.63%, AP reported.The modest uptick breaks a three-week slide in borrowing costs, with mortgage rates having hovered close to the 6% mark for most of this year. Last week’s average had marked the first time the rate dipped below 6% since September 2022, reaching its lowest level in nearly three and a half years.Mortgage rates are influenced by several factors, including the Federal Reserve’s interest-rate policy, investor expectations about inflation and economic growth, and movements in the bond market.They typically track the direction of the 10-year US Treasury yield, which lenders use as a benchmark for pricing home loans.The 10-year Treasury yield rose to 4.14% at midday Thursday, up from around 4% a week earlier.Treasury yields have moved higher in recent days as rising oil prices added fresh inflation concerns, potentially complicating the Federal Reserve’s plans to cut interest rates.
US Senate backs Trump’s Iran operations after House vote
Harry Kane calf injury imperils Bundesliga record chase
Here’s Every Country Directly Impacted by the War on Iran
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
Attock Cement’s acquisition approved | The Express Tribune
What are Iran’s ballistic missile capabilities?
-
Business7 days ago
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
-
Business1 week ago
Attock Cement’s acquisition approved | The Express Tribune
-
Politics1 week agoWhat are Iran’s ballistic missile capabilities?
-
Politics1 week agoUS arrests ex-Air Force pilot for ‘training’ Chinese military
-
Fashion1 week agoPolicy easing drives Argentina’s garment import surge in 2025
-
Business6 days agoGreggs to reveal trading amid pressure from cost of living and weight loss drugs
-
Sports1 week agoSri Lanka’s Shanaka says constant criticism has affected players’ mental health
-
Sports6 days agoLPGA legend shares her feelings about US women’s Olympic wins: ‘Gets me really emotional’