Barack Obama Says First Volume Of Memoir Will Be Published On Nov. 17

Stemson’s £6m hair loss boost

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Stemson aims to restore human hair growth by using a patient’s own cells to generate hair follicles.Allergan Aesthetics is a world-leading medical aesthetics company. Fortunis Capital, a London-based venture capital firm, is committed to continuing support of Stemson’s regenerative cell therapy to treat hair loss. Fortunis Capital’s new Impact Fund intends to invest in companies, such as Stemson, who offer significant social or environmental benefit.

Commenting on the investment Sir Andrew Ross, the director of investments at Fortunis Capital said: “We believe that Stemson has the team, technology and the tools in place to develop a therapy capable of solving the hair loss problem for millions of people in need.

Stemson’s novel cell therapy approach to treat hair loss has game-changing potential. Their experienced management team is poised to elevate its proprietary regenerative cell therapy method as it begins the next phase of its preclinical program.”

Brazil: Schools reopen in Rio de Janeiro amid legal disputes

Legal disputes between mayors, governors and trade unions have left students and teachers in limbo.

Schools in the Brazilian city of Rio de Janeiro have reopened, but nobody knows how long they will stay open.

Legal disputes between mayors, governors and trade unions have left students and teachers in limbo.

Al Jazeera’s Monica Yanakiew has more.

US workers file 860,000 jobless claims, crisis total tops 61 million

Some 860,000 Americans applied for unemployment benefits last week as the coronavirus pandemic continued to weigh on the US labor market, the feds said Thursday.

Last week’s initial jobless claims dropped from the prior week’s revised total of 893,000 but brought the total for the coronavirus pandemic to more than 61 million — a number larger than the combined populations of California and Florida.

Unemployment filings have remained at historic highs for 26 straight weeks as employers struggled to bounce back from the COVID-19 lockdowns that sparked record job losses this spring.

The most recent seasonally adjusted total was well below the late March peak of roughly 6.8 million but still exceeded the pre-pandemic record of 695,000, according to the US Department of Labor data.

Workers laid off in the spring who are still looking for work will soon exhaust the 26 weeks of unemployment benefits that states generally provide. That could lead to a jump in applications for the federal Pandemic Emergency Unemployment Compensation program, which provides another 13 weeks of payments, according to Bloomberg economist Eliza Winger.

“In the coming weeks, jobless claims could start to fall at a quicker pace as more unemployed Americans exhaust their 26 weeks of benefits,” Winger said in a commentary.

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Pound Falls, Gilts Reverse Drop as BOE Weighs Negative Rates

The pound fell and U.K. government bonds reversed losses after the Bank of England said that it discussed the effectiveness of negative interest rates.

Sterling underperformed most of its Group-of-10 currency peers after the BOE said that it had been briefed on how to use negative rates effectively and that it would engage with regulators on how to implement them. The pound dropped as much as 0.7% to $1.2883.

Two-year bond yields, those most sensitive to rate-cut speculation, fell, and money market traders brought forward bets of a 10-basis-point cut to interest rates to May from June earlier on Thursday, and see as much as 20 basis points by November 2021.

“Negative rates are the nuclear option,” said Valentin Marinov, head of foreign exchange research and strategy at Credit Agricole SA. “It could ultimately push the pound into uncharted territory of losing whatever is left of its rate advantage.”

Sterling has tumbled from its year-to-date high near $1.35 touched at the start of the month with traders growing increasingly worried that the U.K. will not be able to strike a trade deal with the European Union by the year-end deadline. Gilts, seen as a haven, have stayed supported by the uncertainty and the prospect of more bond-buying by the BOE.

Two-year yields fell three basis points to minus 0.10%. The pound dropped 0.4% as of 12:17 p.m. in London.

Barack Obama Says First Volume Of Memoir Will Be Published On Nov. 17

Former President Barack Obama said that they first volume of his memoirs, A Promised Land, will be published on Nov. 17.

“There’s no feeling like finishing a book, and I’m proud of this one,” Obama wrote on Twitter. He said in the book “I try to provide an honest accounting of my presidency, the forces we grapple with as a nation, and how we can heal our divisions and make democracy work for everybody.”

No date has been set for the publication of the book’s second volume. Crown is the publisher.

According to the publisher’s description, the book “is extraordinarily intimate and introspective—the story of one man’s bet with history, the faith of a community organizer tested on the world stage.

“Obama is candid about the balancing act of running for office as a Black American, bearing the expectations of a generation buoyed by messages of ‘hope and change,’ and meeting the moral challenges of high-stakes decision-making. He is frank about the forces that opposed him at home and abroad, open about how living in the White House affected his wife and daughters, and unafraid to reveal self-doubt and disappointment. Yet he never wavers from his belief that inside the great, ongoing American experiment, progress is always possible.”

Obama follows a long tradition of former presidents penning one or more memoirs. His wife, former First Lady Michelle Obama, published Becoming in 2018 and it sold 10 million copies in five months.