Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Agencies
January 10, 2019

Jan 10: Amazon.com Inc founder and Chief Executive Jeff Bezos, the world's richest person, and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday.

Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street's most valuable company this week, surpassing Microsoft Corp.

Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world's largest internet retailer.

MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994.

The couple decided to divorce after a long period of "loving exploration" and trial separation, and expect to remain partners in ventures and projects, according to the joint statement.

Amazon shares ended up 0.2 percent on Wednesday. The divorce should have no material impact on the company and its shares, said Tom Forte, an analyst at DA Davidson & Co.

According to Refinitiv Eikon data, MacKenzie does not hold any Amazon shares directly, while Bezos has a 16.1 percent stake worth about $130 billion. Forbes magazine now estimates his overall net worth at $137.1 billion.

Liat Sadler, a San Francisco matrimonial lawyer, noted that spouses owe a fiduciary duty to one another.

“They have duties not to waste or devalue marital resources, and to keep the value of marital property as high as possible,” she said. “I don't think there is an issue of concern for shareholders as to what will happen to Amazon because of the divorce."

Sadler said the main options facing the couple regarding Amazon stock were for Jeff Bezos to buy out his wife, or for MacKenzie Bezos to retain shares.

"If she trusts that he would manage Amazon well, either he should pay her for her share of the stock, or they could enter a more complicated agreement where she keeps stock and he keeps voting rights,” she said.

It is unlikely that many details of the divorce will become public, according to New York lawyer Bernard Clair, who represents Judith Giuliani in her divorce from Rudolph Giuliani, the former New York City mayor and current lawyer for U.S. President Donald Trump.

"These two have been separated for a not insignificant time, and I would assume ... they would have used the time to reach a private, confidential agreement,” Clair said, referring to Jeff and MacKenzie Bezos.

Reuters was unable to determine any further financial details of the planned divorce.

"Jeff remains focused on and engaged in all aspects of Amazon," said Drew Herdener, vice president of communications for the company. He declined to comment on how the divorce might affect the ownership stake.

MacKenzie Bezos met her husband when interviewing for a job at a New York hedge fund, according to a 2013 profile in Vogue.

The two were engaged after three months of dating and married three months after that, according to the magazine. They have four children.

Speaking at an event in Berlin last April, Jeff Bezos said his wife's support was instrumental when he founded Amazon.

"When you have loving and supportive people in your life, like MacKenzie, my parents, my grandfather, my grandmother, you end up being able to take risks," he said.

Jeff Bezos in September committed $2 billion through the Bezos Day One Fund to helping homeless families and starting pre-schools for low-income communities. He had solicited ideas on Twitter in 2017 for ways to donate some of his wealth.

Last January, the couple donated $33 million to fund college scholarships for U.S. high schoolers with Deferred Action for Childhood Arrivals (DACA) status, an Obama-era program protecting young immigrants brought to the United States illegally by their parents.

In 2012, they donated $2.5 million to a Washington state campaign to legalize same-sex nuptials there.

From modest beginnings, Amazon branched out into almost every product category, taking on established retailers such as Walmart Inc.

In November, Amazon picked America's financial and political capitals for massive new offices, branching out from its home base in Seattle with plans to create more than 25,000 jobs in New York City and a Virginia suburb of Washington, D.C.

Jeff Bezos also founded space company Blue Origin in 2000, and is funneling more than $1 billion a year of his own fortune into pulling it out of start-up mode and into production.

He also owns the Washington Post, which has been a frequent target of criticism from Trump.

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Agencies
June 12,2020

Kabul, Jun 12: A blast in a mosque during Friday prayers in the western part of capital Kabul has killed at least four people and wounded many more, Afghanistan's interior ministry said.

"Explosives placed inside the Sher Shah Suri Mosque exploded during Friday prayers," said a statement issued by the ministry, which added that the mosque's prayer leader Mofleh Frotan was among those killed.

Interior ministry spokesman Tariq Arian said police have cordoned off the area and helped move the wounded to ambulances and nearby hospitals.

No group immediately claimed responsibility for the attack but a mosque attack earlier this month was claimed by an ISIL (or ISIS) group affiliate, headquartered in eastern Afghanistan's Nangarhar province.

"Interestingly, every time you have the peace process gaining some momentum and pace, you have these kinds of attacks in the country," Habib Wardak, a national security analyst based in Kabul, told Al Jazeera.

"The Islamic State group claimed responsibility for the attack that happened last week on a mosque in Kabul, so despite the fact that you have these news and press conference from the government that they have eliminated ISIL, how can they conduct such sophisticated operations?"

Friday's blast had parallels to one earlier this month, when an explosion tore apart a famous Kabul mosque and led to the death of renowned Afghan cleric Maulvi Ayaz Niazi.

"In this attack, the imam seems to be the target, not the rest of the crowd. These are the imams who have supported the peace process with the Taliban movement," Wardak said.

"The other political aspect for these kinds of attacks is that there are peace spoilers trying to convey a message that peace with the Taliban will not eradicate violence in the country because you have ISIL."

Violence has spiked in recent weeks in Afghanistan with most of the attacks claimed by the ISIL affiliate.

The United States blamed the armed group for a horrific attack last month on a maternity hospital in the capital that killed 24 people, including two infants and several new mothers.

The ISIL affiliate also took responsibility for an attack on a bus carrying journalists in Kabul on May 30, killing two.

It also claimed credit for an attack on the funeral of a strongman loyal to the government last month that killed 35 people.

Meanwhile, the US is attempting to broker peace talks between the Afghan government and the Taliban to end 18 years of war.

Washington's peace envoy Zalmay Khalilzad was in the region earlier this week trying to resuscitate a US peace deal with the Taliban.

The peace deal signed in February calls for the withdrawal of the US and NATO troops from Afghanistan in return for a commitment by the Taliban to not launch attacks on the US or its allies.

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News Network
April 10,2020

Paris, Apr 10: French pharma major Sanofi said on Friday it has decided to donate 100 million doses of hydroxychloroquine, the anti-malaria drug which could be a potential weapon against novel coronavirus, across 50 countries.

The company has already doubled its incremental production capacity on top of the usual production for current indications across its eight hydroxychloroquine manufacturing sites worldwide and is on track to quadruple it by the summer.

"In this global health emergency, Sanofi stands ready to assist as many countries as possible, starting with countries where its medicine is registered for current approved indications as well as countries where there are no hydroxychloroquine suppliers or countries with underserved populations," it said in a statement.

Sanofi called for coordination among the entire hydroxychloroquine chain worldwide to ensure the continued supply of the medicine if proven to be a well-tolerated and effective treatment in COVID-19 patients.

"The COVID-19 pandemic is an unprecedented health and economic crisis which is shaking some of the very fundamentals of international solidarity and cooperation among countries," said Chief Executive Officer Paul Hudson. "This virus does not care about the concept of borders, so we should not either," he added.

"It is critical that international authorities, local governments, manufacturers and all other players involved in the hydroxychloroquine chain work together in a coordinated manner to ensure all patients who may benefit from this potential treatment can access it. If the trials prove positive, we hope our donation will play a critical role for patients," said Hudson.

While hydroxychloroquine is generating a lot of hope for patients around the world, said Sanofi, it should be remembered that there are no results from ongoing studies and the results may be positive or negative.

To date, there is insufficient clinical evidence to draw any conclusion over the safety and efficacy of hydroxychloroquine in the management of COVID-19 patients.

It is one of several medicines being investigated by the World Health Organisation (WHO) in its international clinical trial seeking a treatment solution for COVID-19. "Sanofi is supporting ongoing trials by providing the medicine to some participating investigator sites and other independent research centres," it said.

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News Network
June 11,2020

Jun 11: The total death toll in the US from the novel coronavirus pandemic could hit the grim figure of 200,000 by September and expecting a dramatic decrease in COVID-19 cases in the country will be a "wishful thinking , an eminent Indian-American professor has warned.

Ashish Jha, the head of Harvard's Global Health Institute, told CNN on Wednesday that he is not trying to scare people to stay at home rather urged everyone to wear masks, adhere to the social distancing rules and called for ramping up testing and tracing infrastructure.

Anybody who's expecting a dramatic decrease in cases is almost surely engaging in wishful thinking. And if it (COVID numbers) stays just flat for the next three months, we're going to hit 200,000 deaths sometime in September and that is just awful, Jha said.

Jha said the 200,000 death toll is not just a guess . Currently 800-1000 people are dying daily in America from the virus and all data suggest that the situation is going to get worse.

We're gonna have increases, but even if we assume that it's going to be flat all summer, that nothing is going to get worse... even if we pick that low number of 800 a day, that is 25,000 (deaths) a month in three and a half months. We're going to add another 88,000 people and we will hit 200,000 sometime in September, Jha said.

The United States is by far the hardest-hit country in the global pandemic, in terms of both confirmed infections and deaths.

According to data by the Johns Hopkins University, the number of coronavirus cases in the US currently is nearly two million and about 112,900 people have died in the country, the most in the world.

When asked about an improvement in states like New York, which had been the epicenter of the COVID19 pandemic in the US, Jha said while coronavirus cases are declining in New York, New Jersey, Connecticut and Massachusetts, the numbers are increasing in states such as Arizona, Florida, Texas, North and South Carolina while the country as a whole is pretty flat.

He said, people should take measures as that will help suppress the virus and ensure people could get back outside safely but he voiced concern that this was not the situation in reality.

We're not doing that and so we're going to unfortunately have another 25,000 deaths a month until September, and then it'll keep going. It's not going to magically disappear. We've got a turn around. This is not the future I want, he said.

Jha said he had expected the situation to improve in the summer months but on the contrary the numbers have continued to rise even in the warm weather.

Summer was supposed to be our better months - warmer weather, people outside, a little less transmission. This is not the time (summer) I was expecting a lot more cases. We're seeing a lot more cases, especially in states like Arizona where the numbers look really scary, he said.

Jha added that he was hopeful that maybe the summer months would give us more of a break. I think I may have been too optimistic on that.

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