Source: Streetwise Reports 11/08/2024

Vertex Pharmaceuticals Inc. (VRTX:NASDAQ) has reported a robust financial performance for the third quarter of 2024. The report has demonstrated the company's continued revenue growth and the strengthening of its innovative pipeline. For Q3 2024, Vertex's product revenue reached US$2.77 billion, a 12% increase from the previous year. This was primarily driven by strong demand for its TRIKAFTA®/KAFTRIO® therapies. Based on this momentum, Vertex raised its full-year product revenue guidance to a range of US$10.8 billion to US$10.9 billion, citing a solid trajectory in its cystic fibrosis (CF) portfolio and expected future launches.

In Q3, the company made notable advancements in its pipeline. Three programs have begun moving into Phase 3 clinical development: suzetrigine in diabetic peripheral neuropathy (DPN), povetacicept in IgA nephropathy (IgAN), and VX-880 in type 1 diabetes (T1D). Vertex is also preparing for the launch of two potential treatments in early 2025, with PDUFA dates set for January 2 for the vanzacaftor triple therapy for CF and January 30 for suzetrigine, the latter being a pain medication in a new therapeutic class aimed at reducing reliance on opioids.

GAAP and Non-GAAP net income both reached US$1.0 billion, largely driven by increased product revenue, which offset rising R&D and SG&A expense. This was s due to investments in global commercialization and late-stage clinical development. For Q3, Vertex's combined R&D and SG&A expenses were US$1.2 billion and US$1.1 billion, respectively, an increase from last year attributed to new global program advancements and upcoming launch support.

Vertex's cash position remained strong, with US$11.2 billion in cash, cash equivalents, and marketable securities as of September 30. The decline from US$13.7 billion at the end of 2023 primarily reflects the acquisition of Alpine Immune Sciences and share repurchases under the company's buyback program.

A Look At Biotechnology and Pharma

The U.S. Pharmaceuticals Report for 2024 by Nova One Advisor detailed the size and growth trajectory of the U.S. pharmaceutical market. Valued at US$602.19 billion in 2023, the sector is projected to exceed US$1 trillion by 2033. The report pointed to a "high healthcare expenditure provided by government bodies" as a primary growth driver, further bolstered by the aging population's demand for advanced treatments.

In an October 24 article, The Investing News Network reported on a dynamic landscape within the biotechnology sector. The report highlighted advancements in AI-powered drug discovery. Despite a cautious investment climate, interest remained strong in AI's potential to reshape healthcare, with venture capital investment reaching US$6.59 billion. At the HealthTech Ignite conference, Susie Roberts from Relay Therapeutics expressed confidence, noting, "We will definitely see AI design drugs in the next 10 years."

On November 4, Yahoo! Finance shared insights from MIT professors Andrew Lo and Dennis Whyte. They emphasized that biotechnology's rapid advancement over the past five decades offers valuable lessons for future innovation. In their research paper, Lo and Whyte proposed initiatives to accelerate biotechnology's growth, underscoring the importance of "reducing risk and uncertainty" to foster a robust investment ecosystem that supports groundbreaking discoveries.

Catalysts Driving Vertex Pharma

According to Vertex's November 2024 investor presentation, the company sees multiple growth catalysts over the next few years. Vertex aims to meet its goal of achieving "five launches in five years," focusing on expanding the treatable patient base in CF with vanzacaftor triple, addressing critical needs in sickle cell disease (SCD) and beta thalassemia (TDT) with CASGEVY, and launching suzetrigine for acute pain management.

Additionally, Vertex expects its expansive R&D pipeline to support long-term growth. This includes pivotal clinical trials for VX-880 in T1D, povetacicept in IgAN, and NaV1.8 pain inhibitors like suzetrigine, indicating a commitment to treating a range of chronic and life-threatening conditions with limited therapeutic options.

By driving advancements in CF therapies, diversifying its portfolio with novel pain treatments, and pursuing accelerated approvals for renal and blood-related disorders, Vertex is strategically positioning itself to sustain growth and achieve several near-term milestones.

What Are Experts Saying About Vertex?

In a November 5, 2024, H.C. Wainwright & Co. update, the analysts highlighted promising data from Vertex's recent Phase 2 trial for suzetrigine, which showed encouraging reductions in pain intensity. [OWNERSHIP_CHART-4085]

The analysts noted that suzetrigine's peripheral nervous system-specific mechanism could potentially address "a significant, unmet medical need worldwide" in non-opioid pain management. They set a price target of US$600.00, projecting Vertex's continued growth from its strong cystic fibrosis franchise and pipeline expansion.

From the November 7 Kingswood Capital Partners report, analysts noted Vertex Pharmaceuticals' "sustained execution" in advancing product development programs and achieving robust operating margins, enabling "continued, significant investments" in both its pipeline and commercial capabilities. The firm maintained a "Buy" rating with a 12-month target price of US$550.00, attributing this outlook to Vertex's deep cash resources and historical successes in clinical trials.

Ownership and Share Structure

According to Refinitiv, 95.44% of Vertex Pharmaceuticals is held by Institutions. The top among them are Capital World Investors at 10.37%, The Vanguard Group at 8.88%, BlackRock Institutional Trust with 5.49%, State Street Global Advisors (US) with 4.55%, and Fidelity Management and Research with 4.11%. Strategic Investors hold .12%. The rest is retail.

The company's market cap is US$129,395.59 million with 257.07 million free float shares. The 52 week range is US$341.90–$510.64.

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American and Mexican families play with a seesaw installation at the border near Ciudad Juarez, Mexico, in July 2019. London's Design Museum recognized the project with an award for best design of 2020.; Credit: Luis Torres/AFP via Getty Images

An art project that turned the border wall at the U.S.-Mexico border into the temporary base for pink seesaws – inviting children on each side to come play together – has won the London's Design Museum award for best design of 2020.

"We are totally surprised by this unexpected honor," said Ronald Rael, who designed the project with fellow architect Virginia San Fratello. They share the award, he said, with the Ciudad Juárez, Mexico-based art collective Colectivo Chopeke.

"That's amazing," San Fratello said in a video feed announcing the prize. The seesaw installation won both the overall prize and in the transportation category.

"Most importantly, it comes at a time when we are hopeful for change and that we start building more bridges instead of walls," Rael added.

"The Beazley Designs of the Year are the Oscars of the design world," said Razia Iqbal, a journalist who chaired the Design Museum's panel of judges. The award, she noted, highlights work that pushes boundaries of creativity and innovation.

The metal wall was meant to be a stark barrier dividing the U.S. and Mexico, the centerpiece of President Trump's aggressive immigration policies. But in one spot, it became a junction point instead – a fulcrum for a series of seesaws that let children in the two countries share a playground toy.

The project, officially named Teeter-Totter Wall, was first installed in July 2019 when workers slid steel beams through the slats of the border near El Paso, Texas, and Ciudad Juárez.

"For the first time, children from both El Paso, Texas, and the Anapra community in Mexico were invited to connect with their [neighbors], in an attempt to create unity at the politically divisive border," the museum said.

"Everyone was very happy and excited to engage the seesaws," Rael told NPR at the time. The installation went smoothly, turning an idea that had been growing for 10 years into a reality.

"It was peaceful and fun — a day at a park for the children and mothers of Anapra," Rael said.

"The project resonated with people around the world in a way that we didn't anticipate," San Fratello said when the award was announced. "It speaks to the fact that most people are excited about being together, and about optimism and about possibility and the future. And the divisiveness actually comes from the minority."

Rael is a professor at the University of California, Berkeley; San Fratello teaches at San José State University.

The seesaw project was chosen out of more than 70 nominees from dozens of countries, including a customized "stab-proof vest" that the artist Banksy designed for musician Stormzy.

Also considered: the gray and red rendering of SARS-CoV-2, the virus that causes COVID-19. Commissioned by the U.S. Centers for Disease Control and Prevention and designed by Alissa Eckert and Dan Higgins, the famous sphere, with its menacing clusters of crowns, won the design award in the graphics category.

The Impossible Burger 2.0 won in the crowded product category, which also included Lego Braille bricks and a self-sanitizing door handle.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Amazon has made a deal to purchase MGM for $8.5 billion.; Credit: /SOPA Images/LightRocket via Getty Images

Editor's note: Amazon is among NPR's financial supporters.

Amazon has made a deal to buy Hollywood studio MGM for almost $8.5 billion. It's the second-largest acquisition for the company after purchasing Whole Foods.

The tech company already runs a film studio, Prime Video streaming service, and video game streaming site Twitch. But the MGM deal is its biggest move into entertainment. Amazon will get the rights to the Golden Age studio's film and television library.

The announcement was made Wednesday morning by the two companies. In a statement, Amazon's senior vice president of Prime Video and Amazon Studios, Mike Hopkins, emphasized the intellectual property value of MGM's vast holdings, which go back to the 1920s. "The real financial value behind this deal," Hopkins said, "is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team."

With its mascot lion roaring logo, MGM made such movie classics as Singin' In the Rain and 2001: A Space Odyssey. MGM also owns the EPIX cable channel and runs a TV studio that produced The Handmaid's Tale and Fargo.

MGM also splits the highly lucrative James Bond movie franchise with a family that holds creative control of the 007 movies. According to Variety, as of 2020 the 24 films released so far in the series have generated $16.3 billion in global ticket sales, adjusted for inflation.

In all, MGM's catalog includes more than 4,000 films — including such pop-culture staples as Moonstruck, Legally Blonde, Rocky, The Pink Panther, The Silence of the Lambs and Poltergeist — and 17,000 television shows. Access to those movies and shows will certainly augment Amazon's Prime Video offerings, particularly at a time when other studios and networks have created their own platforms to reach consumers, such as HBO Max, Paramount+ and Disney+. As of last month, there were more than 200 million Amazon Prime account holders worldwide, Amazon founder Jeff Bezos told Variety.

The Wall Street Journal reported on Wednesday that the deal for $8.45 billion includes taking on MGM's current debts. The deal has not yet closed, an Amazon spokesperson noted to NPR, and is subject to regulatory approvals. The company is already facing antitrust inquiries in both the U.S. and Europe.

This content is from Southern California Public Radio. View the original story at SCPR.org.

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A photo of La Soufrière erupting Friday in St. Vincent. The blast could be sending ash as far as Jamaica and South America.; Credit: Zen Punnett/AFP via Getty Images

La Soufrière, the highest peak on the Caribbean island of St. Vincent, began to explosively erupt Friday morning, forcing thousands to evacuate as ash and smoke filled the sky.

And a larger eruption may be on the way.

Richard Robertson, a geologist with the University of the West Indies Seismic Research Centre, said the volcano is in its explosive eruption phase. The initial explosion of dust and debris St. Vincent experienced Friday is likely just the beginning.

"The explosive eruption has started and it is possible you could have more explosions like these," he said during a press conference. "The first one is not necessarily the worst one, the first bang is not necessarily the biggest bang this volcano will give."

Ralph Gonsalves, the prime minister of St. Vincent and the Grenadines, ordered residents on the northern side of the island to evacuate Thursday out of the red volcano danger zone. The Associated Press reported some 16,000 people were forced to flee their homes.

Soot and ash fell throughout the night, blanketing neighborhoods and streets across the island Saturday morning. Robertson said the ash is expected to fall for the next handful of days, possibly even weeks.

The dome of the volcano, which is about 3,100 feet long and more than 820 feet wide, was destroyed in Friday's eruption, catapulting 460 million cubic feet of debris into the atmosphere. The ash could reach as far as Jamaica and parts of South America, Robertson said.

The last time La Soufrière had a major eruption was in 1979, which lasted several weeks. This eruption, Robertson said, "will more than likely be a bigger eruption than 1979 was." He added, "We don't know how much material is down there that wants to come out."

The fine ash particles, which are difficult to clean up, pose a respiratory risk, especially for people with underlying issues. Robertson recommended that individuals who have decided to stay on the island do their best to clean the ash before it settles or gets wet.

With more potential eruptions looming, Robertson advised residents to move as far south as possible. La Soufrière could be heard rumbling and grumbling throughout the night, he said, from the sound of magma moving inside the volcano.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Tim Cook, chief executive officer of Apple Inc., speaks during an event in 2018. Apple is one of 310 companies calling on the Biden administration to slash carbon emissions.; Credit: David Paul Morris/Bloomberg via Getty Images

More than 300 businesses have signed an open letter calling on the Biden administration to reduce greenhouse gas emissions in the United States to at least half of 2005 levels by 2030. That would nearly double a previous target set by former President Barack Obama in 2015, who pledged a 25 to 28% reduction by 2025.

The United States is not currently on track to meet either goal.

The signatories include some of largest companies in the United States, including Walmart, Apple, McDonald's and Starbucks. "A bold 2030 target is needed to catalyze a zero-emissions future, spur a robust economic recovery, create millions of well-paying jobs, and allow the U.S. to 'build back better' from the pandemic," the letter said, echoing the president's economic recovery slogan.

A 50% reduction target would put the Biden administration in line with what groups such as the United Nations and National Academies of Science say is necessary to mitigate the worst impacts of climate change.

In a March statement calling for the same reductions target, the environmental advocacy group Natural Resources Defense Council said such a plan would "help pull the country out of the pandemic-induced recession by putting millions of Americans to work" and inspire more ambitious international climate action ahead of a major United Nations climate conference this November.

Like President Joe Biden's campaign promise to guide the United States to carbon-neutrality by the middle of the century, a 50% emissions reduction target would require steeper emissions cuts than the country has ever achieved.

In 2019, greenhouse gas emissions were approximately 13% below 2005 levels, a decrease of just 1.8% from the previous year.

The Biden administration has identified climate action as one of its top four priorities and has named prominent, experienced Washington insiders, including former Secretary of State John Kerry and former EPA administrator Gina McCarthy, to oversee climate policy efforts at the White House.

As NPR's Danielle Kurtzleben has previously reported, activists on the left are cautiously optimistic about the administration's climate plan after expressing doubts about Biden's climate record during the Democratic primary.

Sunrise Movement, a youth-led climate group that champions the Green New Deal, gave candidate Biden's initial climate plan an "F" grade. Now, the group's executive director Varshini Prakash is publicly celebrating his administration's latest climate-focused $2 trillion infrastructure bill — including its commitment to spend 40% of the infrastructure plan's money on disadvantaged communities and launch a jobs program called the Civilian Climate Corps.

New York Democratic Rep. Alexandria Ocasio-Cortez told NPR earlier this month that she feels that Biden has ultimately come around to the side of progressives on climate issues. She said: "As much as I think some parts of the party try to avoid saying 'Green New Deal' and really dance around and try to not use that term, ultimately, the framework I think has been adopted."

The emphasis on climate comes as a sharp departure from the Trump administration, which withdrew the United States from the Paris Agreement and set no emissions reductions targets.

Signatories to the Paris deal, which Biden rejoined on the day he was sworn into office, are all required to set these targets — formally known as nationally determined contributions, or NDCs.

The agreement also encourages nations to revise their goals every five years, in hopes that the proposals become more ambitious as the cost of environmental reform goes down.

Since the Paris agreement was first agreed to in 2015, though, just fifty of the deal's nearly 200 signatories have submitted revised targets. A recent U.N. analysis of international climate action found that many countries were doing far too little to reduce emissions for the world to avoid the worst effects of climate change.

So far, the White House has not indicated exactly how ambitious their plan will be. An announcement is expected in the coming days as the White House prepares for its Earth Day climate summit with world leaders, scheduled for Thursday, April 22.

This content is from Southern California Public Radio. View the original story at SCPR.org.

A rollercoaster that once sat on the Funtown Pier in Seaside Heights, N.J., rests in the ocean on Wednesday, Oct. 31, 2012 after the pier was washed away by superstorm Sandy.; Credit: Julio Cortez/AP

When Hurricane Sandy swept up the eastern seaboard in 2012, it left a trail of damage from Florida to Maine. Subways were inundated in New York City. Hurricane-force winds tore across New Jersey. Blizzard conditions walloped Appalachia.

The hurricane — also known as Superstorm Sandy — caused an estimated $70 billion in damages in the U.S., mostly from flooding. And while scientists have long believed that some of the carnage was attributable to a warming climate, it's been unclear just how much of a role human-caused warming played in the storm's impacts. New research, published Tuesday in the journal Nature Communications, puts a dollar amount on some of those damages and it's a startling figure.

Using flood maps and sea-level rise measurements, researchers found that human-induced sea-level rise caused an estimated $8 billion in excess flooding damage during Hurricane Sandy and affected an additional 70,000 people.

"I often hear people say when we're trying to help them adapt to increasing coastal flooding, 'Well, it's not going to happen in my lifetime, the sea-level rise won't happen in my lifetime,'" said Philip Orton, a co-author of the study from the Stevens Institute of Technology in New Jersey. "But it's already happening to people. It's already here."

Sea levels at the tip of Manhattan have risen about 8 inches since 1950, according to the National Oceanic and Atmospheric Administration. Estimates range for how much additional sea-level rise is likely to occur, but on average, the expectation is that by mid-century water levels could rise by more than a foot in New York City, compared to the year 2000.

In worst case scenarios, in which humanity does not significantly cut its climate-warming greenhouse gas emissions and the world's ice sheets rapidly melt, sea levels could rise by more than 6 feet by the end of the century, putting hundreds of millions of people at risk worldwide.

Higher water levels mean more areas are susceptible to flooding, storm surge and other problems associated with hurricanes, as well as more chronic flooding from high tides.

The Biden administration has made addressing climate change one of its top priorities. It's proposed a major reconfiguration of the nation's energy and transportation sectors to cut the country's outsized contribution to global warming, with the goal of making the U.S. carbon neutral by the year 2050. Accomplishing that feat will require major federal investments and likely bipartisan support. It's unclear if the administration will be able to procure the latter.

The new study, which joins a growing body of broader attribution science, aims to quantify the cost of inaction and business as usual. Similar studies found that climate change fueled the strength of Hurricane Harvey, increased the risk of Australia's recent unprecedented fire season and contributed to a record-breaking heatwave in Europe.

Scientists have debated whether Hurricane Sandy was made more intense by a warming climate, but it's difficult to know. Generally, there's agreement in the scientific community that hotter global temperatures and warmer ocean waters will lead to more rapid intensification of hurricanes.

Quantifying exactly how much those climatic differences affected a storm like Sandy is difficult. That's why Orton and the team of researchers focused their efforts on sea-level rise, where there's a bevvy of good data. They used that data to model the impacts of Hurricane Sandy in a world without climate change and found the estimated $8 billion difference.

"Increasingly we have the tools to simulate these events and study and quantify the impact of climate change on people's lives," Orton said. "People's lives were dramatically changed by Hurricane Sandy and a lot of them don't realize it had to do with climate change at all."

This content is from Southern California Public Radio. View the original story at SCPR.org.

The Biden administration is opening the West Coast to offshore wind. Companies have largely focused on the East Coast, like this wind farm off Block Island, Rhode Island.; Credit: Don Emmert/AFP via Getty Images

The Biden administration plans to open the California coast to offshore wind development, ending a long-running stalemate with the Department of Defense that has been the biggest barrier to building wind power along the Pacific Coast.

The move adds momentum to the administration's goal of reaching 100% carbon-free electricity by 2035, coming just weeks after the country's first large-scale offshore wind farm was approved off the coast of New England. Today, the country has just a handful of offshore wind turbines in the Atlantic Ocean, with around a dozen wind farms being developed in federal waters off the East Coast.

"It's an announcement that will set the stage for the long term development of clean energy and the growth of a brand new made-in-America industry," says national climate adviser Gina McCarthy. "Now we're thinking big and thinking bold."

The agreement identifies two sites off Central and Northern California with the potential to install massive floating wind turbines that could produce 4.6 gigawatts of electricity, enough to power 1.6 million homes.

Interest in offshore wind on the West Coast has grown for years, especially with California's own ambitious goal to cut greenhouse gas emissions. The deep waters off the coast have the potential to produce a significant amount of energy.

But the Defense Department has largely objected to the idea, since the Navy and Air Force use the area for training and testing operations. In response to the growing interest, the Navy released a map in 2017 putting large swaths of California waters off limits.

In 2018, the federal Bureau of Ocean Energy Management solicited interest from wind developers. But negotiations with the Department of Defense have been slow going ever since, effectively blocking wind development off California.

Tuesday's announcement outlines a compromise for a 399-square-mile area off Morro Bay, a site that's appealing to renewable energy companies because of existing transmission lines nearby that once service a retired power plant. It also identifies a location off Humboldt County in Northern California.

"It's our view that the world faces a grave and growing climate crisis," says Dr. Colin Kahl, undersecretary of defense for policy. "Climate change is both a threat to the Department of Defense's operations around the world and an existential challenge to our ability to maintain resilience here at home."

Another key site, just offshore from the Diablo Canyon nuclear power plant, was not included in Tuesday's deal. California's last-remaining nuclear plant is scheduled to completely close by 2025, freeing up more potential transmission lines for offshore wind.

The Biden administration has set a goal of jump-starting the country's offshore wind sector with 30 gigawatts of projects by 2030. Those wind farms will foster tens of thousands of jobs, according to the White House, between renewable energy installers, manufacturers and steelworkers.

"This is a major breakthrough — a major advancement that will allow California to start planning for its carbon-free electricity goals with offshore wind firmly in the picture," says Nancy Rader of the California Wind Energy Association, who also pointed to the challenges. "Offshore wind development off the coast at Morro Bay and Humboldt will require a major port facility in each area to construct the floating platforms and assemble the turbines that will require continued proactive planning by the state and federal governments."

Still, the areas identified in the agreement may not be enough for hitting the administration's clean electricity goal, as well as California's. The state is planning to get 100% of its electricity from zero-emission sources by 2045. To reach that, renewable energy needs to triple statewide with offshore wind playing a key role, reaching 10 GW, according to a recent state analysis. Tuesday's deal could provide just half of that.

A potential lease auction for the offshore wind sites could be held in mid-2022. But the projects will still have to negotiate concerns about the potential impacts on California's fishing industry and shipping channels, as well as any environmental concerns about sensitive ecosystems.

"Far too many questions remain unanswered regarding potential impacts to marine life which is dependent on a healthy ecosystem," says Mike Conroy of the Pacific Coast Federation of Fishermen's Associations. "The fishing industry has been told these areas work best for offshore wind developers; but no one has asked us what areas would work best for us."

This content is from Southern California Public Radio. View the original story at SCPR.org.

; Credit: /Courtesy of TED

Part 3 of TED Radio Hour episode: An SOS From The Ocean

In 1998, Alasdair Harris went to Madagascar to research coral reefs. He's worked there ever since. He explains the true meaning of conservation he learned from the island's Indigenous communities.

About Alasdair Harris

Alasdair Harris is a marine biologist and the founder of the organization Blue Ventures. His organization seeks to catalyze and sustain locally-led marine conservation in coastal communities around the world.

His work focuses on rebuilding tropical fisheries and working with coastal people to increase their sources of income.

Harris holds a PhD in tropical marine ecology, and an honorary doctorate of science from the University of Edinburgh.

This segment of TED Radio Hour was produced by Matthew Cloutier and edited by Sanaz Meshkinpour. You can follow us on Twitter @TEDRadioHour and email us at TEDRadio@npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.

• Salary negotiable for applicants with prior law enforcement, detention, or corrections experience.  
• Shift deferential of $2 an hour provided for night shift.
• Detention Officers with advanced degrees and specific law enforcement certificates will receive extra pay. 
• A salary increase is given annually upon a successful performance review (dependent upon budget availability).
• Bilingual extra duty pay is provided upon successful completion of testing (dependent upon budget availability). 
   

An American flag flies from a crane on July 4th next to the Champlain Towers South condo building, where scores of victims remain missing more than a week after it partially collapsed.; Credit: Lynne Sladky/AP

Preparations continue in Surfside, Fla. for the demolition of a portion of the Champlain Towers South still standing after much of the building collapsed in the early morning hours on June 24.

Miami-Dade County Mayor Daniella Levine Cava told reporters on Sunday that bringing down the remainder of the collapsed condominium in a controlled fashion is crucial to the safety of search and rescue teams.

Those teams have paused their work so demolition can take place. Levine Cava said officials are still unsure of a specific time that the demolition will occur.

"Our top priority is that the building can come down as soon as possible — no matter what time that occurs — and safely as possible," Levine Cava said at a morning news conference.

The number of confirmed dead from the collapse remains at 24. The number of people unaccounted for remains at 121.

Preparations for the demolition come as Tropical Storm Elsa is tracking towards southern Florida. The storm is expected to hit the area Monday and Tuesday.

The instability of the building could be made worse by the storm, which is expected to bring strong winds and rain at the beginning of the week. Mayor Levine Cava said that as soon as the demolition has occurred, search and rescue efforts are expected to resume.

Ahead of Elsa's arrival in Florida, Gov. Ron DeSantis issued a state of emergency Saturday for 15 counties, including Miami-Dade.

On Sunday, he expressed optimism that the Surfside area may be spared from the worst of the storm.

"We could see some gusts, but it has tracked west over the last day and a half — more so than the initial forecast," he said. "So, we'll just keep watching that."

This content is from Southern California Public Radio. View the original story at SCPR.org.

SURFSIDE, Fla. — Crews used explosives late Sunday night to demolish the remaining structure at Champlain Towers South in Surfside, Fla.

The heavily damaged condo building was knocked down at about 10:30 p.m. Eastern time.

The targeted blast caused the tower to fold and crumble, sending a large plume of dust and debris over a section of the beachside community. A crowd watching from a distance prayed as the building came down.

Before the structure was leveled, Miami-Dade County police urged residents who live nearby to remain indoors and shelter in place.

Miami-Dade County officials said removing the tower was an essential step so search and rescue teams could resume scouring the rubble pile for victims of the disaster.

Officials suspended recovery efforts on Saturday because of concerns about the danger posed by the unstable building.

"It will be safe to resume the search activities very shortly after the blast and that's when we'll resume it," said Miami-Dade County Mayor Daniella Levine Cava at a press conference Sunday evening.

Demolition of the tower was also accelerated because of Tropical Storm Elsa, which could hit South Florida with high winds and heavy rains as early as Monday.

Search efforts had been ongoing since the morning of June 24, when much of the 12-story condo complex suffered a "progressive collapse" and dozens of apartments were reduced to rubble in a matter of seconds.

The number of confirmed dead from the disaster remains at 24, with the number of people unaccounted for at 121.

Rep. Debbie Wasserman Schultz, D-Fla., told reporters Sunday the demolition of the remaining tower added to the sorrow for families who lived in the complex, destroying homes and possessions.

"So often demolitions of buildings are a spectacle, it's almost like a show," Schultz said. "This demolition is a tragic situation."

Local officials assured former residents and the public that everything possible had been done to rescue pets left behind in the structure.

"Folks can be comfortable we're not leaving anyone behind, including our beloved pets," Surfside Mayor Charles Burkett told reporters.

Multiple investigations are already underway into the cause of the collapse.

Documents acquired by NPR from an anonymous source show the condo association's board received warnings from an engineering firm beginning in 2018 that the structure needed extensive repairs.

A memo sent by the association to Champlain Towers South residents ahead of a May 2021 board meeting acknowledged the "desperate needs of the building."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Rescue workers move a stretcher containing recovered remains at the site of the collapsed Champlain Towers South condo building in Surfside, Fla., on Monday. Rescuers have recovered three more bodies and officials say the demolition of the building will accelerate search efforts.; Credit: Lynne Sladky/AP

Miami-Dade County mayor Daniella Levine Cava said on Monday morning that three more victims have been recovered from the ruins of the collapsed condo tower in Surfside, Fl., bringing the total death toll so far to 27.

Cava added that the demolition of the rest of Champlain Towers South "was executed exactly as planned" the previous evening, and that it would now allow rescue teams to work on a section of the collapsed building that was previously inaccessible. She noted that 118 individuals remain unaccounted for.

"Truly, we could not continue without bringing this building down," Cava said. "The area closest to the building was not accessible, due to the enormous risk to the team of first responders, because of the instability of the building."

According to Florida Governor Ron DeSantis, the newly accessible section of rubble is also from a part of the building where many bedrooms were located, and may contain the remains of many victims. The building collapsed in the middle of the night.

Authorities had been concerned that an approaching tropical storm might topple the standing part of the building onto the section that had already collapsed. That would have been a massive setback in the search for victims and for clues to the cause of the disaster.

Tropical Storm Elsa now appears to be tracking further to the west, and is more likely to hit the west coast of Florida, rather than the site of the disaster. But officials at the National Weather Service say the storm's course still could change.

Cava acknowledged that demolishing people's homes "is a devastating decision" and said that "our teams are doing everything possible to help those who lost their home begin to rebuild."

She said that authorities are working with insurance companies and the Federal Emergency Management Agency to streamline claims and help those who've lost homes and property.

One animal rescue volunteer had gone to court to stop the demolition of the rest of the tower, asking the court to allow more time to rescue pets that might still be trapped inside. The judge denied the motion.

Cava said in her Monday briefing that Miami-Dade rescue teams had already gone through parts of the building that were still accessible, "searching in closets and under beds" to find missing pets.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Sonata Software announced that its Unified Enterprise Mobility Platform, Halosys, has been enhanced with additional features that boost optimization and usability

The Akshaya Patra Foundation reduced the process time taken from planning the menu to delivery to schools by using mobility solution and automation.

"The Commission made binding commitments offered by T-Mobile CZ, CETIN and O2 CZ that will keep the benefits of network sharing whilst removing technical and financial disincentives to unilateral deployments and limiting information exchange, all to the benefit of Czech mobile user," Commission Vice-President Margrethe Vestager said in a statement.

Supporting this massive surge, the National Payments Corporation of India (NPCI), an entity for operating retail payments and settlement systems, has provided the backbone and the infrastructure to help in the faster adoption of digital systems that has deepened financial inclusion.

“The technology services industry, at some level, is recession proof,” Premji said at the company’s 76th annual general meeting on Tuesday. “In good times, clients spend on new initiatives and business transformation and serving customers digitally. They focus on reducing costs when times are not so good,” he said addressing a question on inflation concerns.

With the advent of disruptive technologies such as artificial intelligence, blockchain, and data analytics, banks across the world are embracing a new era of innovation to enhance their services and improve customer experiences. These innovations are empowering banks to provide personalized, efficient, reliable, and secure financial solutions to their customers.

Reliance Jio Infocomm is set to sign a $1.7bn deal with Nokia this week to purchase 5G network equipment. This follows the $2.1bn worth of equipment ordered by the Indian telecom operator from Ericsson in its attempt to roll out 5G across India this year. The company has already purchased 5G spectrum and plans to invest $25bn in 5G infrastructure, making its standalone mode the sole holder of the 700 MHz band in the country.

The Challenge is part of Small Steps to Health and Wealth�, a national Cooperative Extension program developed to motivate Americans to take action to simultaneously improve their health and personal finances. SSHW was built around a framework of 25 research-based behavior change strategies. The Challenge was originally developed in a �paper and pencil� format with printed worksheets and is now available online.

In the fall of 2009, as a part of the Catawba Aging Leadership Planning Project, Catawba County, along with aging service providers, volunteers and local municipalities developed a �Livable & Senior Friendly Community Survey�. This survey was widely distributed throughout Catawba County and targeted the County�s Senior Community, their caregivers and professionals in the aging field. The purpose of the survey was to obtain current and relevant information on the quality of life of seniors. Obtaining this information is important when looking toward the future of Catawba County.

Two members of the Catawba County Board of Commissioners, Vice-Chair Lynn Lail and Commissioner Barbara Beatty joined UNC Charlotte officials and leaders from business and power industries to celebrate the start of construction on the University�s Energy Production and Infrastructure Center (EPIC). EPIC is a planned research endeavor between the University and private partners with the goal of expanding energy engineering and research within the region based on industry needs. The Catawba County EcoComplex will play an important role in EPIC through research partnership between Catawba County and UNC-Charlotte

A partnership of all fourteen fire departments and all five rescue squads in the county with Catawba County Emergency Services has resulted in a grant from the Federal Emergency Management Agency (FEMA) that will fund a large amount of the costs to purchase new radios to significantly improve communications by and between the fire and rescue agencies and the County�s 911 Communications Center.

Jeff Carpenter, who will begin new duties as Cooperative Extension Director on September 1, 2010, will oversee delivery of services to meet the Extension mission of sustaining agriculture and forestry, protecting the environment, maintaining viable communities, developing responsible youth and developing strong, healthy and safe families.

The final stages of the 2011 property revaluation process in Catawba County have begun with the presentation of the proposed 2011 Schedule of Values to the Board of Commissioners, and will continue into November, when property owners will receive notice of the new value of their property, and into December and early 2011 when the appeal process begins.

Commissioner Barger was recognized as �a leader with insight and determination� and a person of �trust, integrity, responsibility, and concern for fellow citizens� in a Distinguished Public Service Award presented to him during the meeting.

Brian Drum, one of the supervisors of the Catawba County 911 Communications Center, who has been called upon to increase his supervising duties over the past year and has a record of dedication to 911 dispatch that spans more than ten years, has been recognized by his peers in the North Carolina Chapter of the National Emergency Number Association (NC NENA) as Supervisor of the Year.

Catawba County has upgraded a feed from its 911 Center of the information on calls regarding traffic incidents. The feed shows the type of incident reported, such as a vehicle accident, stranded motorist or vehicle fire, and gives the location of the incident. Only traffic related incidents are reported through this feed.

Catawba County has been awarded one of only two grants presented across the nation, by Motorola and the National Association of Counties (NACo), to local governments that suggested innovative solutions to improve operations within their respective counties. The $30,000 grant will fund the wireless broadband internet capacity needed at Catawba County�s EcoComplex to allow for real-time monitoring between EcoComplex laboratories, universities and businesses.

Residents and businesses affected by severe storms and tornado on Oct. 26 in Catawba County can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Karen G. Mills announced today. Mills made the loans available in response to a letter from North Carolina Gov. Beverly E. Perdue on Nov. 12, requesting a disaster declaration by the SBA. The declaration covers Lincoln County and the adjacent counties of Burke, Catawba, Cleveland, Gaston, Iredell and Mecklenburg in North Carolina.

Between February 16 and 24, 2011, more than 2,500 students in Catawba County�s three public school systems received the 2010-11 flu vaccine due to a successful partnership between the schools and Catawba County Public Health. School nurses collected permission forms from parents and coordinated flu vaccine mini-clinics at 43 schools.

The agenda for the next meeting of the Catawba County Board of Commissioners, 9:30 a.m., Monday, April 4, 2011, 1924 Courthouse, Newton, is now available.

At the spring North Carolina City & County Communicators Conference, held March 30-April 1, in Fayetteville, NC, Dave Hardin, Public Information Officer for Catawba County, received the prestigious Chris Coulson Memorial Award. The award is presented to a person whose character, career and service represents the highest standards and who excels in the practice of local government communications.

RealtyAnalytix Advisors, LLC announces the introduction of Catawba Industrial Commons, a multi-tenant industrial campus offering the most attractive, affordable and functional manufacturing, distribution and warehousing space in the Greater Catawba County region.

For the twenty-second straight year, Catawba County�s Budget Office has been recognized by its peers for producing a budget document which is easy to read and understand. The Office has won the 2010 Distinguished Budget Presentation Award from the Government Finance Officers Association. This award recognized the County�s fiscal year 2010-2011 budget.