"Lone Wolf" Vaccine Tycoon Topples Jack Ma As China's Richest

News Network
September 24, 2020

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A bottled-water and vaccine tycoon has become China's wealthiest person in a day also marked by massive losses among the world's tech elite.

Zhong Shanshan's net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma's, according to the Bloomberg Billionaires Index. Zhong is now Asia's second-richest person, behind India's Mukesh Ambani, and is the 17th wealthiest in the world, ahead of Charles Koch and Phil Knight.

Nicknamed “Lone Wolf” for his eschewing of politics and clubby business groups, Zhong's fortune has jumped $51.9 billion in 2020, more than anyone else in the world except Amazon.com Inc.'s Jeff Bezos and Tesla Inc.'s Elon Musk. Both suffered heavy declines on Wednesday as tech stocks stumbled and Tesla plunged after its “Battery Day” event fell short of expectations. Musk's fortune dropped by almost $10 billion.

The initial public offering of bottled-water company Nongfu Spring Co. -- which turned out to be Hong Kong's most popular among retail investors -- propelled Zhong to China's top three richest earlier this month. That came after the April listing of vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. pushed his net worth to $20 billion by early August.

Zhong now leads a wealth ranking in China that is typically dominated by people who made their fortunes from tech companies.

While Zhong has surpassed Ma as China's wealthiest, the tech tycoon might soon regain the top spot, which he's held for most of the past six years after Alibaba went public in the U.S. Ant Group's IPO next month is poised to boost his fortune, with his stake estimated at $28 billion if the company achieves the $250 billion valuation people familiar with the matter have said it's targeting.

Wednesday was brutal for U.S. tech stocks, which tumbled the most since earlier this month. The plunge in Musk's wealth was the biggest among the people on the Bloomberg ranking of the world's 500 richest, followed by Bezos, whose net worth dropped by $7.1 billion. Musk is now worth $93.2 billion and Bezos $178 billion. Zhong added almost $4 billion Wednesday, more than anyone else in the index.

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News Network
October 17,2020

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India may get a Covid-19 vaccine as early as March since several manufacturers are working on it, according to Dr Suresh Jadhav, executive director of Serum Institute of India. The institute is working with Oxford University and AstraZeneca to develop a Covid-19 vaccine in India.

Dr Jadhav said that provided regulators approve the vaccine candidates, India is moving fast towards having a vaccine for Covid-19. He said two manufacturers are already in phase-III trial and one in phase-II trial and more are joining, all indicating positive developments in the global race for a vaccine.

The spread of the novel coronavirus in India has quickened in the last few days with new cases of Covid-19 and deaths reported every day. The pandemic has expanded its footprint in the country and has affected over 74 lakh people since the first positive case was confirmed on January 30 in Kerala. India's Covid-19 death toll stands at 1,12,910.

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Agencies
October 23,2020

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New Delhi, Oct 23: The Delhi High Court on Friday said Republic TV's editor-in-chief Arnab Goswami can use the tagline NATION WANTS TO KNOW' as part of his speech or presentation.

The high court noted in its order that Bennett Coleman and Co. Ltd, which has filed a suit against Goswami or ARG Outlier Media Pvt Ltd, which owns Republic TV, has submitted that the journalist is free to use the same as part of his speech/presentation of any news channel.

However, if Goswami or ARG Outlier Media Pvt Ltd choose to use NATION WANTS TO KNOW' as a trade mark regarding any of their goods/ services, they will have to maintain accounts for such usage and the accounts shall be filed in court regularly, it said.

Regarding the tagline NATION WANTS TO KNOW, no interim order is passed at this stage in favour of the plaintiff (Bennett Coleman). As submitted by the learned counsel for the plaintiff, defendant No. 2 (Goswami) is free to use the same as part of his speech/presentation of any news channel, etc, Justice Jayant Nath said.

Meanwhile, the court allowed an interim application of Bennett Coleman group and passed an interim injunction in its favour and against the defendants retraining them from using the trademark NEWSHOUR' or any other mark which is deceptively similar to the trade mark NEWSHOUR' of the Bennett Coleman.

The plaintiff has filed the suit seeking to restrain Goswami or ARG Outlier Media Pvt Ltd from using the trademark or title or tagline NEWSHOUR' and NATION WANTS TO KNOW' as it infringes its registered mark.

The plaintiff said Times Now' is a news channel operated by the plaintiff having several segments of programmes, one of which was launched in 2006 titled THE NEWSHOUR' pertained to discussions, panel discussions and debates on current topics.

It said Goswami, who was earlier associated with Times Now and resigned in 2016, launched his channel Republic TV' and website www.republicworld.com and they also filed trade mark applications for registration of the mark NATION WANTS TO KNOW', ARNAB GOSWAMI NEWSHOUR' and GOSWAMI NEWSHOUR SUNDAY' claiming proprietary rights.

The journalist told the high court that viewers of the two news channels are well informed, literate and can never associate or confuse between the shows or programmes aired on the respective news channels.

He claimed that the Bennett Coleman's animosity with the Republic TV is well known and publicised and hence, there is no question of any passing off in such circumstances and alleged that the proceedings have been initiated in the form of vendetta litigation and merely in a purported attempt to harass and arm-twist the defendants.

The high court said it was of the opinion that it is only after evidence has been led that it can be ascertained as to whether the plaintiff was using the aforesaid mark as a trade mark or it was merely being used as a form of speech in the course of conducting the news channel or in the course of carrying on interviews/presentations by defendant No. 2 (Goswami). These are aspects on which, prima facie, no view can be made at this stage based on the documents placed on record, namely, screen shots of various sites of Twitter, Facebook, etc.

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News Network
October 29,2020

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Madrid, Oct 29: The Spanish authorities have restricted movement in the regions of Andalusia, Castile-La-Mancha, Castile and Leon and Murcia due to the worsening epidemiological situation amid the pandemic, according to the regional governments.

The provinces of Granada, Jaen and Seville in Andalusia -- the country's largest autonomous community -- were put on a partial lockdown, following in the steps of the regions of Navarre, Aragon, Asturias, Basque Country and Rioja.

Exceptions to leave or enter the territory of the autonomous communities are visits to medical institutions, work or study-related issues, as well as visits to relatives.

Murcia closes borders for 14 days, while Andalusia, Castile and Leon and Castile-La-Mancha until November 9.

Community leaders in Madrid want to restrict movement during the long weekend due to the holidays.

Over the past two weeks, Spain confirmed more than 170,000 cases of the coronavirus, with over 34,000 of the infections being registered in Catalonia. On Sunday, a new curfew came into force across Spain. In Catalonia, residents are ordered to stay at home from 10 p. m. to 6 a. m. (from 21:00 to 05:00 GMT).

Last week, Spain became the sixth country in the world to register a total of over 1 million coronavirus cases.

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