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...pandemic did. Key to the world's defense against the flu will be an effective vaccine, and vaccine companies have been gearing up to produce hundreds of millions of doses. Production is already under way, with the Australian drug company CSL this week becoming the first manufacturer to begin testing a vaccine in human subjects. "Things are proceeding well," says Jesse Goodman, the chief scientist and deputy commissioner of the U.S. Food and Drug Administration...
...Superior Court again on Sept. 10. His defense attorney, J. W. Carney, Jr. said after the arraignment that further hearings will likely take place before the trial, and that more evidence may be exchanged between the prosecution and defense at the hearings. Carney said he expects the trial to begin in September or October...
...than levels in developed countries - but sheer population growth means India will become a bigger carbon emitter on the whole. In the future, developing nations will contribute the large majority of CO2 emissions, but if the world has to wait for countries like India to get rich before they begin cutting carbon, the planet is doomed...
...There are signs, though, that Beijing may be slowly changing its policy toward the yuan in ways that could, over time, lead to its greater use on a global scale. Most notably, China and Hong Kong launched a pilot program this month through which Hong Kong banks can begin settling cross-border trade transactions in yuan for selected Chinese companies. This step will likely increase the use of yuan in Hong Kong, one of the world's premier financial centers. (The program also solidifies Hong Kong's role as China's chief financial hub.) This step follows a series...
...standing of the yuan stem from the same concerns as its calls for a new reserve currency. Greater use of the yuan in trade would improve the competitiveness of Chinese exporters by reducing transaction costs and currency risks. By internationalizing the yuan, says HSBC's Qu, China can also begin extricating itself from the "dollar trap," in which the country, through its trade, amasses giant surpluses of dollars, which forces it to invest in dollar assets. This is why China, which holds $805 billion in U.S. Treasury securities, is the U.S.'s largest creditor. But this dollar hoard makes China...