Latest news with #MichaelGordon
Business Recorder
06-08-2025
- Business
- Business Recorder
Australia, NZ dollars edge away from lows, jobs data no worse than expected
SYDNEY: The Australian and New Zealand dollars inched further away from multi-week lows on Wednesday as their U.S. counterpart struggled with swelling rate-cut wagers, while the kiwi found support in jobs data that were no worse than expected. While New Zealand unemployment ticked up to a near five-year high of 5.2%, that was still a little below forecasts and better than analysts' worst fears. Details of the report were weak with underutilization rising, hours worked sliding and wages subdued, leaving investors confident the Reserve Bank of New Zealand will cut rates later this month. 'We see a 25bp rate cut as highly likely, leaving the door open for further easing if needed, but with no strong signal about the extent or timing of any future rate cuts,' said Michael Gordon, a senior economist at Westpac. Markets imply around a 90% chance of a quarter-point cut to 3.0% on August 20, and the possibility of a further move to a floor of 2.75% late this year or early next. Yields on New Zealand 10-year bonds touched four-month lows at 4.440%, having fallen 15 basis points since Friday's poor U.S. payrolls report boosted bonds globally. There have also been concerns that the U.S. tariff rate on New Zealand of 15% was above some of its competitors, including Australia at 10%, and could hurt exports over time. The kiwi dollar crept up 0.2% to $0.5911, but remained uncomfortably close to a recent 15-week trough of $0.5857. It faces resistance at $0.5932 and $0.5976. The Aussie firmed 0.1% to $0.6476, nudging further away from a five-week low of $0.6419 hit last Friday. Resistance lies around $0.6493 and $0.6530. There is little Australian economic data out this week and markets are already fully priced for a quarter-point rate cut to 3.60% from the Reserve Bank of Australia when it meets on August 12. Its policy board has emphasised it wants to be gradual and cautious in easing, so investors generally assume rates will hold steady at the September meeting and might be cut in November if inflation continues to slow. The deciding factor could be the main consumer price report for the third quarter due on October 29, though investors will also be eyeing monthly jobs data to see if a jump in unemployment in June was the start of a trend.
NZ Herald
03-08-2025
- Business
- NZ Herald
Unemployment tipped to hit nine-year high as labour market weakens
There was anecdotal evidence that firms holding on to labour were not experiencing the pick-up in demand they expected, which meant more jobs were at risk, he said. 'A degree of 'labour hoarding' appears to have suppressed unemployment in recent quarters,' he said. 'If a recovery in economic momentum doesn't do the heavy lifting when it comes to 'right-sizing' firms' labour input, a further reduction in headcount may be needed.' With the high-frequency data pointing to an economic slowdown, risks around employment growth over the next few quarters were skewed to the downside, he said. Workman expects unemployment will rise to 5.3%, worse than the Reserve Bank's forecast of 5.2%. He also forecasts the employment rate falling 0.1% (down 0.9% for the year). It is likely that the level of participation in the labour market – already low and flattering the unemployment rate – also fell. Westpac senior economist Michael Gordon was no more optimistic. 'Monthly data has pointed to further job losses over the quarter, particularly among younger people,' he said. 'We expect that many of these people will have exited the workforce altogether, dampening the extent of the rise in the unemployment rate.' The labour market typically lagged the broader economic cycle, so it was understandable we would still be seeing softness at this stage, he said. 'But it's possible that this lag will be more prolonged than usual.' ASB senior economist Mark Smith said he expected the Reserve Bank would likely take 'more signal from trends in labour costs than the unemployment rate'. 'Labour cost growth is expected to cool, with the balance of power firmly tilted towards employers,' he said. The Labour Cost Index should increase by 0.5% for the quarter, with annual labour cost growth cooling to 2.1%, he said. That would be the lowest in four years. More moderate April 2025 increases in the minimum wage would deliver a more modest than usual second-quarter increase. Annual public sector labour cost growth was expected to ease towards 3% given the Government's fiscal belt-tightening, he said. 'We expect wider measures to generally confirm that wage pressures are easing.' BNZ head of research Stephen Toplis noted none of this was 'supportive of household spending, which remains critical to a broader economic recovery'. 'Weak employment is a headwind on its own but comes with a kicker of raising concerns around job security,' he said. 'Combined with above-average inflation in some essential items like food and electricity, it is another factor threatening the timing and extent of the pick-up in household spending that many are forecasting.' This Wednesday's data would confirm the need for more rate cuts, Kiwibank economists wrote. 'Last week's inflation data was the first test for the RBNZ given its data-dependent approach,' they said. 'We believe it opened the door to a rate cut in August.' Headline inflation rose, but the drivers appeared to be temporary. Domestic inflation was heading in the right direction. 'Next week's labour market is the second test for an August rate cut. And should the data print the way we expect, the door to a rate cut remains firmly open.' Downside risks to medium-term inflation were growing, given the soft labour market and dimming global outlook, they said. 'We expect the RBNZ to cut the cash rate by 25 basis points at the August meeting. And they'll need to go to 2.5% eventually.' Liam Dann is business editor-at-large for the New Zealand Herald. He is a senior writer and columnist, and also presents and produces videos and podcasts. He joined the Herald in 2003.
Business Wire
25-07-2025
- Business
- Business Wire
Agenus to Highlight Emerging Survival Plateaus with Botensilimab/Balstilimab in Oral Presentation of Study in Refractory Patients Across Five Tumor Types at ESMO 2025
LEXINGTON, Mass.--(BUSINESS WIRE)--Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology, today announced that four abstracts highlighting clinical progress across its botensilimab and balstilimab immunotherapy programs have been accepted for presentation at the European Society for Medical Oncology (ESMO) Congress 2025, taking place in Berlin, Germany from October 17-21. The highlight is an oral presentation that will feature emerging survival plateaus from a study of botensilimab plus balstilimab in 343 evaluable patients with refractory metastatic solid tumors across five tumor types. Three additional poster presentations will feature data from investigator-sponsored studies in cervical cancer, MSS metastatic colorectal cancer (mCRC), and non-melanoma skin cancers, underscoring the broad potential of botensilimab and balstilimab based combinations in difficult-to-treat cancers. Presentation Details: 1. Oral Presentation Title: Emerging survival plateaus with botensilimab and balstilimab: Pan tumor data from a large phase 1b trial of advanced solid tumors Presenting Author: Dr. Michael Gordon; HonorHealth Research Institute-AZ, USA Mini Oral Session: Investigational Immunotherapy Session Date: Session Time: 2:00-3:00 PM CEST / 8:00-9:30 AM EDT Location: Hall 5.2 Abstract Number: 3220 2. Poster Presentation Title: Efficacy and safety of balstilimab with or without zalifrelimab in recurrent cervical cancer: Results from the global phase 2 RaPiDs trial Presenting Author: Dr. David O'Malley; The Ohio State University Comprehensive Cancer Center- OH, USA Session Date: Saturday, October 18, 2025 Session Time: 12:00-12:45 PM CEST / 6:00-6:45 AM EDT Location: Hall 25 Abstract Number: 2952 Poster Number: 1164P 3. Presentation Title: A Phase I trial of botensilimab, balstilimab and regorafenib (BBR) in chemotherapy-resistant patients with microsatellite stable (MSS) metastatic colorectal cancer Presenting Author: Dr. Marwan Fakih; City of Hope- CA, USA Session Date: Sunday, October 19, 2025 Session Time: 12:00-12:45 PM CEST / 6:00-6:45 AM EDT Location: Hall 25 Abstract Number: 6197 Poster Number: 851P 4. Presentation Title: A phase 2, open label study to evaluate the safety and clinical activity of balstilimab in patients with advanced/metastatic non-melanoma skin cancers (AGENONMELA) Presenting Author: Dr. Iwona Lugowska; Maria Sklodowska-Curie National Research Institute and Oncology Center - Poland Session Date: Monday, October 20, 2025 Session Time: 12:00-12:45 PM CEST / 6:00-6:45 AM EDT Location: Hall 25 Abstract Number: 7273 Poster Number: 1662P Expand About Agenus Agenus is a leading immuno-oncology company targeting cancer with a comprehensive pipeline of immunological agents. The company was founded in 1994 with a mission to expand patient populations benefiting from cancer immunotherapy through combination approaches, using a broad repertoire of antibody therapeutics, adoptive cell therapies (through MiNK Therapeutics) and adjuvants (through SaponiQx). Agenus has robust end-to-end development capabilities, across commercial and clinical cGMP manufacturing facilities, research and discovery, and a global clinical operations footprint. Agenus is headquartered in Lexington, MA. For more information, visit or @agenus_bio. Information that may be important to investors will be routinely posted on our website and social media channels. About Botensilimab (BOT) Botensilimab is a multifunctional, human Fc enhanced CTLA-4 blocking antibody designed to boost both innate and adaptive anti-tumor immune responses. Its novel design leverages mechanisms of action to extend immunotherapy benefits to 'cold' tumors which generally respond poorly to standard of care or are refractory to conventional PD-1/CTLA-4 therapies and investigational therapies. Botensilimab augments immune responses across a wide range of tumor types by priming and activating T cells, downregulating intratumoral regulatory T cells, activating myeloid cells and inducing long-term memory responses. Botensilimab alone, or in combination with Agenus' investigational PD-1 antibody, balstilimab, has shown clinical responses across nine metastatic, late-line cancers. Approximately 1,200 patients have been treated across the botensilimab/balstilimab program in phase 1 and phase 2 clinical trials. For more information about botensilimab trials, visit About Balstilimab (BAL) Balstilimab is a novel, fully human monoclonal immunoglobulin G4 (IgG4) designed to block PD-1 (programmed cell death protein 1) from interacting with its ligands PD-L1 and PD-L2. It has been evaluated in >900 patients to date and has demonstrated clinical activity and a favorable tolerability profile in several tumor types. Forward-Looking Statements This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding its botensilimab and balstilimab programs, expected regulatory timelines and filings, and any other statements containing the words "may," "believes," "expects," "anticipates," "hopes," "intends," "plans," "forecasts," "estimates," "will," 'establish,' 'potential,' 'superiority,' 'best in class,' and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the factors described under the Risk Factors section of our most recent Annual Report on Form 10-K for 2024, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Agenus cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Agenus undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Expand
Washington Post
25-07-2025
- Politics
- Washington Post
Fired prosecutor who handled Capitol riot cases sues government
A prosecutor who handled some of the most high-profile cases against Jan. 6, 2021 rioters is suing the government over his dismissal last month, arguing that the decision was politically motivated. Former assistant U.S. attorney Michael Gordon is one of dozens of federal prosecutors the Justice Department has fired since President Donald Trump returned to office, despite such measures generally only being used in cases of misconduct, as The Washington Post reported last month. On Thursday, Gordon and two other former DOJ employees — Patricia A. Hartman, who was a public affairs specialist in the U.S. attorney's office for the District of Columbia, and Joseph W. Tirrell, who led the department's ethics office — filed a lawsuit Thursday over their terminations, which they said disregarded 'long-standing statutory and regulatory protections that govern how and when members of the civil service can be terminated, and the limits thereof.' They said they were informed of their removal from their posts in a one-page letter from Attorney General Pam Bondi, without being offered any 'cause, let alone a proper merit-based one, or required due process.' The attorney general, the lawsuit argues, 'does not have absolute authority to simply remove DOJ employees,' who are protected from being arbitrarily or unlawfully dismissed. 'Our justice system depends on the independence of prosecutors and civil service employees at the Department of Justice who enforce the law without fear, favor, or political pressure,' Abbe David Lowell, one of the attorneys representing the plaintiffs, said in an emailed statement Friday. 'When that independence is compromised, justice itself is at risk. This case is about protecting the integrity of our legal system. The DOJ employees at the center of this case served with distinction, followed the law, not politics, and were fired for it.' The DOJ did not immediately respond to an overnight request for comment. Gordon, who worked as an assistant U.S. attorney in the DOJ's Tampa office, consistently received 'Outstanding' performance ratings since he joined the office 8½ years ago, and received another top rating two days before he was fired in late June, according to the lawsuit. He also spent two years prosecuting some of the most high-profile Capitol riot cases, including Richard 'Bigo' Barnett, who was photographed lounging at a desk in the office of then-Speaker Nancy Pelosi; Eric Munchel, who was pictured inside the Capitol with plastic handcuffs; and Rebecca Lavrenz, who became known on social media as the 'J6 Praying Grandma.' Within the first hours of his second term, Trump issued a sweeping pardon to almost all of those convicted over the Capitol riot and commuted the sentences of the remaining 14. Trump also appointed Ed Martin, a lawyer who represented Jan. 6 defendants and helped organize the 'Stop the Steal' movement after Trump lost the 2020 election, as interim D.C. U.S. attorney — though he later withdrew the nomination. Gordon told The Post earlier this month that he was preparing a witness for trial shortly before 5 p.m. on a Friday when he was given the paper that said he was being let go without explanation — but said he knew the decision was related to his work on the Jan. 6 cases. 'What's shocking is that the Department of Justice — the part of the government that's supposed to uphold the law — is instead openly defying it, openly thumbing its nose at the very laws that it's supposed to enforce,' he said at the time. 'They're prioritizing revenge over public safety.' Two other assistant U.S. attorneys involved in prosecuting Jan. 6 cases were fired the same day, according to the lawsuit. Rep. Kathy Castor (D-Florida) wrote a letter to Bondi earlier this month, saying that the 'timing and circumstances of Mr. Gordon's termination raise serious concerns about political retribution.' The decision could also 'derail justice for victims' of a case Gordon was prosecuting at the time of his dismissal, which Castor described as 'one of the largest fraud schemes in Florida's recent history.' When he was fired, Gordon was the counsel of record in 17 federal cases and involved in 20 ongoing investigations and at least six trials set to take place between July and September, the case argued. Hartman, the public affairs specialist, spent almost two decades at the DOJ, and had also consistently received positive performance reviews before her dismissal in July, according to the lawsuit. She was 'the primary official' working on public affairs related to the Jan. 6, 2021 prosecutions, the lawsuit said, including handling media inquiries and issuing press releases. Tirrell, the senior ethics attorney, was also dismissed in July, after more than seven years as 'an exemplary employee' with the DOJ, the lawsuit said. He previously worked in the FBI for over a decade and also served as a naval officer for more than six years. Tirrell wrote on LinkedIn after his dismissal earlier this month that the oaths he took as a public servant 'did not come with the caveat that I need only support the Constitution when it is easy or convenient.' The lawsuit said that the plaintiffs would normally be able to turn to the Merit Systems Protection Board, which allows federal employees to appeal against suspensions and terminations. However, the lawsuit noted that Trump's firing of the MSPB's head meant the body lacks quorum and that any complaint with the MSPB would be 'futile.'
Bloomberg
24-07-2025
- Politics
- Bloomberg
Prosecutor Who Tried Jan. 6 Cases Speaks Out About His Dismissal
Michael Gordon's name never made headlines, but the cases he handled did. As a federal prosecutor in Tampa, Florida, he went after fentanyl dealers, armed robbers, and drug crews. When the Justice Department asked for volunteers to help prosecute people who attacked the US Capitol on Jan. 6, 2021, he raised his hand. For two years, Gordon tried cases against some of the most prominent defendants, and earned a promotion to senior trial counsel. He returned to Tampa with a reputation as a closer. When a politically sensitive $100 million fraud case stalled, the US attorney asked him to take it on. The indictment was returned in four weeks.
