Stock Markets

China says it will not join Swiss peace conference on Ukraine

Published

7 months ago

June 1, 2024

By Laurie Chen and Liz Lee

BEIJING (Reuters) – China will not attend a Ukraine peace conference in Switzerland next month because it does not meet its expectations, which include both Russia and Ukraine taking part, the Chinese Foreign Ministry said on Friday, confirming an exclusive Reuters report.

Switzerland is seeking broad-based turnout from different parts of the world for the summit in mid-June, which Bern hopes will lay the groundwork for a peace process in Ukraine.

Moscow was not invited and dismisses the talks as meaningless without its participation.

“The arrangements for the meeting still fall far short of China’s requests and the general expectations of the international community, making it difficult for China to participate,” Chinese Foreign Ministry spokesperson Mao Ning said at a routine briefing.

“China has always insisted that an international peace conference should be endorsed by both Russia and Ukraine, with the equal participation of all parties, and that all peace proposals should be discussed in a fair and equal manner. Otherwise it will be difficult for it to play a substantive role in restoring peace.”

China briefed some diplomats this week that it had declined the invitation, saying its conditions had not been met, four sources told Reuters earlier.

The conditions included that the conference should be recognised by both Russia and Ukraine, there should be equal participation by all parties, and there should be fair discussion of all proposals, one of the sources said.

“We are very sorry that the Chinese side does not use the opportunity to present its position on the platform of the Summit in Switzerland,” a spokesperson for the Ukrainian embassy in Beijing said in a statement to Reuters.

Russian Foreign Minister Sergei Lavrov suggested on Thursday that China could arrange a peace conference in which Russia and Ukraine take part.

During a visit to China this month, Russian President Vladimir Putin said Ukraine may use the Swiss talks to try to get a broader group of countries to back Ukrainian President Volodymyr Zelenskiy’s demand for a total Russian withdrawal.

Putin also expressed backing for China’s plan for a peaceful settlement of the crisis, saying that Beijing had a full understanding of what lay behind the crisis.

The Swiss foreign ministry said it noted the conditions for China’s participation have not yet been met, particularly as Russia is “currently not involved” in the peace conference.

“For Switzerland, Russia’s involvement in the peace process is also essential. The (ministry) it is working actively to involve Russia in the peace process,” it added.

The Swiss ministry, which has previously underlined its desire to involve Russia in the peace process, said over 80 countries had confirmed attendance for the conference.

CHINA’S 12-POINT PLAN

Russia and China proclaimed a “no limits” relationship just days before Moscow launched its invasion of Ukraine in February 2022, but Beijing has so far avoided providing actual weapons and ammunition for Russia’s war effort.

Beijing put forward a 12-point paper more than a year ago that set out general principles for ending the war, but did not get into specifics. China and Brazil last week signed a joint statement calling for Russia-Ukraine peace talks.

Ukraine in January invited Chinese President Xi Jinping to participate in the planned summit of world leaders in Switzerland. Zelenskiy this week urged U.S. President Joe Biden to attend, but Washington has not confirmed who it will send.

China’s ambassador to Switzerland in March said Beijing would consider taking part in the conference. Chinese representatives attended one preparatory meeting for the summit last summer in Jeddah, Saudi Arabia.

China’s special envoy for Eurasian affairs, Li Hui, has carried out three rounds of shuttle diplomacy between various European and Middle Eastern countries, Ukraine and Russia since the invasion began.

In the latest round this month, Beijing put forward proposals on supporting the exchange of prisoners of war, opposing the use of nuclear and biological weapons and opposing armed attacks on civilian nuclear facilities, according to a Chinese foreign ministry readout.

But several European leaders and the United States have repeatedly urged China to do more to curb exports of dual-use items and critical components propping up Russia’s industrial defence base, which U.S. Secretary of State Antony Blinken has called “the biggest threat to European security since the end of the Cold War”.

China insists that its dual-use exports are subject to oversight and that it maintains normal trade relations with Russia.

The Russian embassy did not immediately respond to requests for comment.

Switzerland has been seeking to persuade more Global South countries, as well as China, to attend the conference.

Stock Markets

BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman

Published

13 hours ago

December 26, 2024

San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.

Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895

BioAge Labs, Inc. (BIOA) Investigation:

The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”

BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.

This news drove the price of BioAge shares down almost 80% on December 9, 2024.

“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »

Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182

Stock Markets

Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman

Published

13 hours ago

December 26, 2024

CELH Investors with Losses Encouraged to Contact the Firm

San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).

Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.

Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895

Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):

The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:

Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated

The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.

The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.

These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.

“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.

# # #

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180

Stock Markets

Suriname fugitive ex-President Desi Bouterse dead at 79

Published

13 hours ago

December 26, 2024

By Ank Kuipers

PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.

“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.

The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.

Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.

“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.

Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.

In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.

Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.

Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.

Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.