Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk and his partner Canadian musician Grimes have changed their baby's name to comply with Californian law. What Happened The baby X Æ A-12 will now be named X Æ A-Xii to comply with a law in California, revealed Grimes on Instagram Sunday.Grimes said in response to a comment on the social media network, "Just removed the numbers to confirm [sic] to California law," She added, "Roman numerals. Looks better tbh."The singer also added that a dash in the name was allowed by the law.Why It Matters According to the California Birth Registration Handbook, baby names are limited to the 26 alphabets of the English language and cannot include numeric characters or diacritical marks. Hyphens or apostrophes may be used in certain names. Musk had previously disclosed that his baby boy's name is pronounced "X Ash A 12." Explaining the meaning of the name, he had said X is just "X," and the A-12 is just "A 12."The Tesla chief executive gave credit to his wife for coming up with the name and disclosed that A-12 signifies the Archangel-12 plane, the precursor of their favorite aircraft SR-17. Musk announced at the beginning of the month that he was rethinking his "attachment to the material world" and will be selling "almost all physical possessions."It is not certain if the baby's name would be accepted by the state of California, reported Business Insider. Price Action On Friday, Tesla shares closed 1.30% lower at $816.88.Image Credit: Elon Musk's Twitter.See more from Benzinga * Amazon Shareholders Demand Disclosures On COVID-19 Worker Safety * BlackRock Under Pressure From Activist Shareholders On Mindful Climate-Related Investing * Hewlett Packard To Reduce Workforce, Slash Salaries(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia’s richest men, died peacefully at the age of 98, his family confirmed on Tuesday. The flamboyant tycoon, who loved to dance and advised his nearest and dearest to shun gambling, headed one of the world’s most lucrative gaming businesses through his flagship firm, SJM Holdings Ltd, valued at about $6 billion. Ho oversaw the transformation of once-sleepy Macau into the world’s biggest casino centre, outpacing the United States’ Las Vegas strip, and held a monopoly until 2002 when the enclave licensed five other operators to run casinos.

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Latam Airlines Group S.A. (LTM) and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection due to the impact of the coronavirus pandemic on the global aviation industry.The Latin American airline said that it has secured up to $900 million in financing from the Cueto and Amaro families and Qatar Airways, two of its largest shareholders. As of the Chapter 11 filing, the group had about $1.3 billion in cash on hand.During the debt restructuring process, Latam and its affiliates will continue flying as conditions permit, the airline said.Commercial airline travel has fallen off a cliff due to coronavirus-induced lockdown restrictions forcing many global airlines around the world to ground the majority of their fleets, suspend aircraft deliveries, and streamline operations.Deutsche Lufthansa AG (DLAKY) on Monday announced that it has reached an agreement with the German government on a €9 billion ($9.8 billion) bailout package, while earlier this month Colombian Avianca Holdings (AVH) filed for bankruptcy protection."Latam entered the COVID-19 pandemic as a healthy and profitable airline group, yet exceptional circumstances have led to a collapse in global demand and has not only brought aviation to a virtual standstill, but it has also changed the industry for the foreseeable future," said Roberto Alvo, CEO of Latam. "We have implemented a series of difficult measures to mitigate the impact of this unprecedented industry disruption, but ultimately this path represents the best option to lay the right foundation for the future of our airline group.”Latam and its affiliates said that they are also in discussions with their respective governments of Chile, Brazil, Colombia and Peru to seek sourcing additional financing, protect jobs where possible and minimize disruption to its operations.Shares in the air carrier fell $4.8% to $2.58 as of Friday in U.S. trading taking the year-to-date plunge to 75%.TipRanks data shows that three out of five analysts releasing a review over the past month downgraded the stock’s rating to Hold. The $3.40 average analyst price target implies 32% upside potential in the shares in the coming 12 months. (See Latam Airlines stock analysis on TipRanks).Related News: Ryanair Cuts Traffic Target By Almost 50% For Coming Year, Seeks To Reduce Boeing Plane Deliveries Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes More recent articles from Smarter Analyst: * Air Canada’s Proposed Takeover Of Transat Faces EU Anti-Trust Probe * Uber Cuts 600 Jobs In India, Cites Unpredictable Covid-19 Recovery * Chi-Med, BeiGene Join Forces For Solid Cancer Tumor Treatment * Irish Data Protection Commission Completes Inquiry into Twitter Data Breach

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May.24 — Susan Shirk, a former deputy assistant secretary of state during the Clinton administration and currently a professor chair of the 21st Century China Center at the School of Global Policy and Strategy at the University of California, San Diego, looks at the tensions between the U.S. and China. The U.S. should give up its “wishful thinking” of changing China, Foreign Minister Wang Yi said, warning that some in America were pushing relations to a “new Cold War.” Shirk speaks on “Bloomberg Markets: Asia.” (Corrects typographical error in headline)

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(Bloomberg) — The German government’s 9 billion-euro ($9.8 billion) bailout of Deutsche Lufthansa AG may cost the stricken carrier some valuable assets: Key flight slots at airports in Frankfurt and Munich.The European Commission wants Lufthansa to surrender the slots out of concern the aid will give the carrier unfair advantage over competitors, people familiar with the matter said.After weeks of talks, Germany on Monday offered Lufthansa a package of loans and equity investment to keep the carrier aloft through the coronavirus storm. = Officials in Brussels are concerned the deal will distort competition and fuel lawsuits from competitors like Ryanair Holdings Plc, the people said. Approval of the deal could take several weeks, they said, asking not to be named discussing confidential deliberations.To compensate for the state help, the European Union’s executive arm also would like the airline to decrease the number of aircraft based in Germany, the people said. German Chancellor Angela Merkel told a meeting of conservative lawmakers the government would fight for Lufthansa to keep key slots, people familiar with the matter said.“The discussions with the European Commission are continuing at full speed,” German Economy Minister Peter Altmaier said Monday at a news conference in Berlin. “So far, we have managed to get approval from Brussels for all our aid requests during the corona crisis. How long it will take I cannot say, but the main point for us is that we want to achieve a good result.”Shares GainLufthansa shares advanced on Tuesday, building on Monday’s 7.5% gain in the wake of the deal. As of 9:29 a.m. in Frankfurt, the stock was up 6.4%. Still, it remains down 44% for the year.Analysts at Deutsche Bank AG said that while some of the terms of the German government deal were less punitive than expected, it would leave Lufthansa with high debt levels.Airport slots are a crucial currency for airlines, which rarely give up the ability to operate flights at popular times and to destinations. It’s a commodity that EU regulators have often asked carriers to cede to smaller rivals when seeking approval for mergers, including during Lufthansa’s 2017 takeover of a unit of Air Berlin.Like airlines the world over, Lufthansa is fighting for survival as restrictions to contain the coronavirus puncture a decades-long aviation boom. The company plans to operate fewer aircraft when flights resume and is closing discount arm Germanwings to resize for what it warns could be years of depressed demand.The EU press office said it had no comment on the Lufthansa plan and was “in constant contact” with governments. It defended the need for “additional commitments to preserve effective competition” that are required for recapitalizations of more than 250 million euros to a company, according to an emailed statement.“This is important to preserve the level playing field in the single market post-coronavirus crisis to the benefit of all European consumers and companies,” the EU said.The Lufthansa package will be the first recapitalization to be weighed by the EU after it loosened rules this month that usually prevent governments from pumping money into favored firms. Regulators are facing criticism from Ryanair that they are violating EU principles on fair competition by allowing huge amounts of state cash to prop up inefficient airlines. Ryanair argues that this could fund a price war or expansion spree to knock out rivals.EU officials are aware of the need for speedy approvals, said Margrethe Vestager, the bloc’s antitrust chief. Officials have been “working seven days a week around the clock” and at night “in order to make sure that things can be processed as fast as possible,” she told EU lawmakers on Monday.Blocking StakeThe German government on Monday unveiled an aid package for Lufthansa that involves taking an initial 20% stake that could rise to a blocking minority of 25% plus one share in the event of a hostile takeover. The deal also includes a 5.7 billion-euro investment via a so-called silent participation — a debt-equity hybrid instrument that wouldn’t dilute shareholder voting rights. The state will also back a three-year loan of 3 billion euros.As well as approval from the European Commission, Lufthansa’s supervisory board must approve the deal and shareholders will have to vote on the capital increase at a special meeting, likely to be held in late June. Lufthansa is poised to receive some 2 billion euros in ad from Austria, Belgium and Switzerland.The German package represents the biggest corporate rescue in the country during the pandemic crisis. It’s also the only one that involves a direct investment by Merkel’s government, but more may be coming. The government set up the 100 billion-euro fund to buy stakes in stricken companies as part of its effort to stabilize Europe’s largest economy.(Updates with share price move in sixth paragraph, analyst comment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Novavax (NVAX) is now beginning human testing in its Phase 1/2 clinical trial of its coronavirus vaccine candidate, NVX‑CoV2373. Preliminary immunogenicity and safety results from the Phase 1 part of the trial are expected in July 2020, the company says.NVX‑CoV2373 is a stable, prefusion protein that uses Novavax’s Matrix‑M adjuvant to enhance immune responses and stimulate high levels of neutralizing antibodies.“Administering our vaccine in the first participants of this clinical trial is a significant achievement, bringing us one step closer toward addressing the fundamental need for a vaccine in the fight against the global COVID‑19 pandemic,” said Stanley C. Erck, CEO of Novavax. “We look forward to sharing the clinical results in July and, if promising, quickly initiating the Phase 2 portion of the trial.”The Phase 1/2 clinical trial will be held in two parts. Phase 1 is a randomized, observer-blinded, placebo-controlled trial to evaluate the vaccine’s immunogenicity and safety, both adjuvanted with Matrix‑M and unadjuvanted. The trial is enrolling 130 healthy participants 18 to 59 years old at two sites in Australia. The protocol’s two-dose trial regimen assesses two dose sizes (5 and 25 micrograms) with Matrix‑M and without.If Phase 1 is successful, the Phase 2 part will begin ‘promptly’ says NVAX. It will be held in multiple countries, including the US, and would assess immunity, safety and Covid‑19 disease reduction in a broader age range. This Phase 1/2 approach allows for rapid advancement of NVX‑CoV2373 during the pandemic, says Novavax. The trial is being supported by $388M in funding from the Coalition for Epidemic Preparedness Innovations (CEPI).According to the Wall Street Journal, Novavax is already ramping up manufacturing for NVX‑CoV2373 even though trials are only beginning now. “Time is the most important thing here,” Erck told the publisher, adding that normally NVAX would wait 6-9 months before taking this step.Shares in Novavax have exploded by 1059% year-to-date, and analysts have a firmly bullish Strong Buy stock consensus. The average analyst price target currently stands at $48 (3% upside potential). (See Novavax stock analysis on TipRanks).Ladenburg Thalmann analyst Michael Higgins has just boosted his price target from $38 to $50. “Our higher price target reflects our continued confidence in the successful completion of development and global approval of NVX-CoV2373, with an increased estimate for the procurement of this vaccine in 2021, from 100M to 300M doses, at $10/dose, for a ~3% share of global vaccine consumption, with our continued assumption for a $5 CGS/dose” he explains.Related News: Novavax Spikes 31% on $384 Million Cash Injection for Vaccine Production Novavax Seeks To Raise $250 Million From Share Sale; Top Analyst Bumps Up PT Regeneron To Repurchase $5 Billion Stake From Sanofi   More recent articles from Smarter Analyst: * Blackstone-Backed Phoenix Snaps Up 650 Wireless Towers, Analyst Upgrades BX To Buy * Regeneron and Sanofi’s Dupixent Shows ‘Positive’ Trial Data, Meets Co-Primary Endpoints * Molson Coors Suspends Dividend; Cuts Costs By $200M * Lufthansa Clinches $9.8 Billion Bailout Deal With German Government

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