Atai Life Sciences schizophrenia drug fails to meet main goal in trial
U.S.-listed shares of atai fell about 14% in extended trading.
Recognify said patients taking the drug, inidascamine, showed some improvement in cognitive tests compared with a placebo, but the results were not statistically significant.
The trial enrolled 242 patients with cognitive impairment associated with schizophrenia, which affects memory, attention and decision-making in people with the mental illness.
Despite the drug missing the main goal, Recognify said patients on inidascamine showed consistent signs of improvement in areas such as processing speed and verbal learning, with positive trends on a test assessing real-world cognitive abilities.
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The Independent
29 minutes ago
- The Independent
US and China to talk in Stockholm on trade with eye on Trump-Xi summit later this year
When top U.S. and Chinese officials meet in Stockholm, they are almost certain to agree to at least leaving tariffs at the current levels while working toward a meeting between their presidents later this year for a more lasting trade deal between the world's two largest economies, analysts say. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to hold talks for the third time this year — this round in the Swedish capital, nearly four months after President Donald Trump upset global trade with his sweeping tariff proposal, including an import tax that shot up to 145% on Chinese goods. 'We have the confines of a deal with China,' Trump said Friday before leaving for Scotland. Bessent told MSNBC on Wednesday that the two countries after talks in Geneva and London have reached a 'status quo,' with the U.S. taxing imported goods from China at 30% and China responding with a 10% tariff, on top of tariffs prior to the start of Trump's second term. 'Now we can move on to discussing other matters in terms of bringing the economic relationship into balance,' Bessent said. He was referring to the U.S. running a $295.5 billion trade deficit last year. The U.S. seeks an agreement that would enable it to export more to China and shift the Chinese economy more toward domestic consumer spending. The Chinese embassy in Washington said Beijing hopes 'there will be more consensus and cooperation and less misperception' coming out of the talks. With an eye on a possible leaders' summit, Stockholm could provide some answers as to the timeline and viability of that particular goal ahead of a possible meeting between Trump and Chinese leader Xi Jinping. 'The meeting will be important in starting to set the stage for a fall meeting between Trump and Xi,' said Wendy Cutler, a former U.S. trade negotiator and now vice president at the Asia Society Policy Institute. 'Beijing will likely insist on detailed preparations before they agree to a leaders' meeting.' In Stockholm, the two sides are likely to focus on commercial announcements to be made at a leaders' summit as well as agreements to address 'major irritants,' such as China's industrial overcapacity and its lack of control over chemicals used to make fentanyl, also to be announced when Xi and Trump should meet, Cutler said. Sean Stein, president of the U.S.-China Business Council, said Stockholm could be the first real opportunity for the two governments to address structural reform issues including market access in China for U.S. companies. What businesses will be seeking coming out of Stockholm would largely be 'the atmosphere' — how the two sides characterize the discussions. They will also look for clues about a possible leaders' summit because any real deal will hinge on the two presidents meeting each other, he said. Fentanyl-related tariffs are likely a focus for China In Stockholm, Beijing will likely demand the removal of the 20% fentanyl-related tariff that Trump imposed earlier this year, said Sun Yun, director of the China program at the Washington-based Stimson Center. This round of the U.S.-China trade dispute began with fentanyl, when Trump in February imposed a 10% tariff on Chinese goods, citing that China failed to curb the outflow of the chemicals used to make the drug. The following month, Trump added another 10% tax for the same reason. Beijing retaliated with extra duties on some U.S. goods, including coal, liquefied natural gas, and farm products such as beef, chicken, pork and soy. In Geneva, both sides climbed down from three-digit tariffs rolled out following Trump's 'Liberation Day' tariffs in April, but the U.S. kept the 20% 'fentanyl' tariffs, in addition to the 10% baseline rate — to which China responded by keeping the same 10% rate on U.S. products. These across-the-board duties were unchanged when the two sides met in London a month later to negotiate over non-tariff measures such as export controls on critical products. The Chinese government has long protested that American politicians blame China for the fentanyl crisis in the U.S. but argued the root problem lies with the U.S. itself. Washington says Beijing is not doing enough to regulate precursor chemicals that flow out of China into the hands of drug dealers. In July, China placed two fentanyl ingredients under enhanced control, a move seen as in response to U.S. pressure and signaling goodwill. Gabriel Wildau, managing director at the consultancy Teneo, said he doesn't expect any tariff to go away in Stockholm but that tariff relief could be part of a final trade deal. 'It's possible that Trump would cancel the 20% tariff that he has explicitly linked with fentanyl, but I would expect the final tariff level on China to be at least as high as the 15-20% rate contained in the recent deals with Japan, Indonesia, Vietnam,' Wildau said. US wants China to dump less, buy less oil from Russia and Iran China's industrial overcapacity is as much a headache for the United States as it is for the European Union. Even Beijing has acknowledged the problem but suggested it might be difficult to address. America's trade imbalance with China has decreased from a peak of $418 billion in 2018, according to the Census Bureau. But China has found new markets for its goods and as the world's dominant manufacturer ran a global trade surplus approaching $1 trillion last year — somewhat larger than the size of the U.S. overall trade deficit in 2024. And China's emergence as a manufacturer of electric vehicles and other emerging technologies has suddenly made it more of a financial and geopolitical threat for those same industries based in the U.S., Europe, Japan and South Korea. 'Some enterprises, especially manufacturing enterprises, feel more deeply that China's manufacturing capabilities are too strong, and Chinese people are too hardworking. Factories run 24 hours a day,' Chinese Premier Li Qiang said on Thursday when hosting European Commission President Ursula von der Leyen in Beijing. 'Some people think this will cause some new problems in the balance of supply and demand in world production.' 'We see this problem too,' Li said. Bessent also said the Stockholm talks could address Chinese purchases of Russian and Iranian oil. However, Wildau of Teneo said China could demand some U.S. security concessions in exchange, such as a reduced U.S. military presence in East Asia and scaled-back diplomatic support for Taiwan and the Philippines. This would likely face political pushback in Washington. The Stockholm talks will be 'geared towards building a trade agreement based around Chinese purchase commitments and pledges of investment in the U.S. in exchange for partial relief from U.S. tariffs and export controls,' Wildau said. He doubts there will be a grand deal. Instead, he predicts 'a more limited agreement based around fentanyl.' 'That,' he said, 'is probably the preferred outcome for China hawks in the Trump administration, who worry that an overeager Trump might offer too much to Xi.' ___
Daily Mail
29 minutes ago
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Menopause made my hair fall out. Then I discovered a new hair-loss solution. This is the secret ALL midlife women need to know
For me, midlife has brought various indignities, as well as many joys. But standing over a sink to count the number of hairs that had come out in my brush one morning has to be among the more distressing aspects. For the record, it was 201. And why was I counting them? Because I'd searched 'how to tell if your hair is falling out' online – and according to Dr Google, anything over 100 strands was a cause for concern.
Reuters
29 minutes ago
- Reuters
US and EU avert trade war with 15% tariff deal
TURNBERRY, Scotland, July 27 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the deal at Trump's luxury golf course in western Scotland after an hour-long meeting that pushed the hard-fought deal over the line, following months of negotiations. "I think this is the biggest deal ever made," Trump told reporters, lauding EU plans to invest some $600 billion in the United States and dramatically increase its purchases of U.S. energy and military equipment. Trump said the deal, which tops a $550 billion deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of U.S. exporters. Von der Leyen, describing Trump as a tough negotiator, said the 15% tariff applied "across the board", later telling reporters it was "the best we could get." "We have a trade deal between the two largest economies in the world, and it's a big deal. It's a huge deal. It will bring stability. It will bring predictability," she said. The agreement mirrors key parts of the framework accord reached by the U.S. with Japan, but like that deal, it leaves many questions open, including tariff rates on spirits, a highly charged topic for many on both sides of the Atlantic. The deal, which Trump said calls for $750 billion of EU purchases of U.S. energy in coming years and "hundreds of billions of dollars" of arms purchases, likely spells good news for a host of EU companies, including Airbus ( opens new tab, Mercedes-Benz ( opens new tab and Novo Nordisk ( opens new tab, if all the details hold. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector hard. German carmakers, VW, Mercedes and BMW were some of the hardest hit by the 27.5% U.S. tariff on car and parts imports now in place. The baseline 15% tariff will still be seen by many in Europe as too high, compared with Europe's initial hopes to secure a zero-for-zero tariff deal. Bernd Lange, the German Social Democrat who heads the European Parliament's trade committee, said the tariffs were imbalanced and the hefty EU investment earmarked for the U.S. would likely come at the bloc's own expense. Trump retains the ability to increase the tariffs in the future if European countries do not live up to their investment commitments, a senior U.S. administration official told reporters on Sunday evening. The euro rose around 0.2% against the dollar, sterling and yen within an hour of the deal's being announced. Carsten Nickel, deputy director of research at Teneo, said Sunday's accord was "merely a high-level, political agreement" that could not replace a carefully hammered out trade deal: "This, in turn, creates the risk of different interpretations along the way, as seen immediately after the conclusion of the U.S.-Japan deal." While the tariff applies to most goods, including semiconductors and pharmaceuticals, there are exceptions. The U.S. will keep in place a 50% tariff on steel and aluminum. Von der Leyen suggested the tariff could be replaced with a quota system; a senior administration official said EU leaders had asked that the two sides continue to talk about the issue. Von der Leyen said there would be no tariffs from either side on aircraft and aircraft parts, certain chemicals, certain generic drugs, semiconductor equipment, some agricultural products, natural resources and critical raw materials. "We will keep working to add more products to this list," von der Leyen said, adding that spirits were still under discussion. A U.S. official said the tariff rate on commercial aircraft would remain at zero for now, and the parties would decide together what to do after a U.S. review is completed, adding there is a "reasonably good chance" they could agree to a lower tariff than 15%. No timing was given for when that probe would be completed. The deal will be sold as a triumph for Trump, who is seeking to reorder the global economy and reduce decades-old U.S. trade deficits, and has already reached similar framework accords with Britain, Japan, Indonesia and Vietnam, although his administration has not hit its goal of "90 deals in 90 days." U.S. officials said the EU had agreed to lower non-tariff barriers for automobiles and some agricultural products, though EU officials suggested the details of those standards were still under discussion. "Remember, their economy is $20 trillion ... they are five times bigger than Japan," a senior U.S. official told reporters during a briefing. "So the opportunity of opening their market is enormous for our farmers, our fishermen, our ranchers, all our industrial products, all our businesses." Trump has periodically railed against the EU, saying it was "formed to screw the United States" on trade. He has fumed for years about the U.S. merchandise trade deficit with the EU, which in 2024 reached $235 billion, according to U.S. Census Bureau data. The EU points to the U.S. surplus in services, which it says partially redresses the balance. Trump has argued that his tariffs are bringing in "hundreds of billions of dollars" in revenues for the U.S. while dismissing warnings from economists about the risk of inflation. On July 12, Trump threatened to apply a 30% tariff on imports from the EU starting on August 1, after weeks of negotiations failed to reach a comprehensive trade deal. The EU had prepared countertariffs on 93 billion euros ($109 billion) of U.S. goods in the event a deal to avoid the tariffs could not be struck.
