PR in the Philippines

At our recent gathering, we surveyed approximately 60 top CEOs on a wide range of economic matters. While our anonymous poll was informal and not scientifically rigorous, the results indicate that CEOs are increasingly and generally optimistic about the U.S. economy – in fact, much more bullish than just about any other group in the country. The CEOs we surveyed are surprised by the strength of their own views, as 81% of respondents say they have been taken aback by how well the economy has performed so far. Now, a full 84% of respondents believe the economy is headed for a soft landing, while only 10% expect a significant recession, and only 6% expect a hard landing. The optimism we heard from these CEOs contrasts with the negative predictions of certain leading business voices, such as one prominent banker’s prediction two years ago of a Category 4 “economic hurricane,” which Similarly, negative nationwide polling results from respected organizations such as Mark Penn’s about the economy; 74% of CEO respondents believe the economy is performing far better than these polling results suggest. This optimism is backed up by headline economic statistics that remain strong, across economic growth, falling inflation, and low unemployment, with several CEOs pointing out how economic data suggests a soft landing is already unfolding in real time. Real U.S. GDP growth rebounded to a robust 3.0% in the second quarter, surpassing consensus estimates, with economists expecting the U.S. economy to grow by ~2.7% across the entire year. The World Bank says the “” strength of the U.S. of its improved global growth outlook this year, declaring that “the U.S. economy has shown particularly impressive resilience….growth has remained buoyant in the teeth of the fiercest monetary policy tightening in four decades.” As several CEOs noted, those growth estimates have risen alongside falling inflation, with the most recent August CPI inflation report coming in , well below consensus estimates and CPI readings. Prices have come down without driving up unemployment, which last seen in the 1960s, while wage growth now outpaces inflation, with real incomes growing at a steady rate . In dollar terms, income growth has price growth by $3,776 since 2021. Once again, this stands in contrast to the prognostications of some cynics. that we needed punishingly high interest rates to cause ten percent unemployment in one year, or six percent unemployment for three years to bring down inflation. It turns out, that was quite wrong. Financial markets similarly back up the optimism shown by CEOs, with all major U.S. stock market indices — having already established well this year alone — driven by Similarly, consumer spending than expected and is forecasted to rise 2.4% in 2024, more than last year. While the Fed did cut rates this last week, the CEOs were unanimous in their view that interest rates are too high. The Fed’s decision to lower rates was not a triumph of leadership, as inflation fell regardless of the interest rates not triggering the desired rise in unemployment Fed Chair Jay Powell . Not a single respondent thought that the Fed should hold rates where they are or hike rates. (While CEOs clearly appreciate the importance of rates and the Fed, 84% believe the business media is too focused on Fed rate speculation each day, week after week to the exclusion of other substantive genuine business issues.) At a time when how the economy is doing has a central debate of the 2024 election, it is clear that our nation’s top CEOs remain broadly confident in America’s dynamism and resilience. In short, the CEOs are channeling the wisdom of baseball philosopher Yogi Berra: “The future ain’t what it used to be!”

Following a summer of increased COVID-19 cases, Americans will soon be able to order free COVID-19 tests this fall.  The U.S. Department of Health and Human Services has not yet provided an official date that the nasal swab tests will be available, but says kits should be ready to order by the end of September. The initiative is rolling out ahead of the holiday season, when colds, flus and other illnesses are more prevalent.   Households will be able to obtain four free antigen COVID-19 tests by visiting a dedicated website, a repeat of the 2023 program. And the department says that these tests will be able to “detect current COVID-19 variants and can be used through the end of the year,” according to its website.  The latest data from the Centers for Disease Control and Prevention found that test positivity for COVID-19 stood at 14.9%, a decrease from the peak in August, though that number is still elevated. By comparison, in May, positivity rates were significantly lower. On Monday, the website to order the tests appeared to be down due to “too much traffic or a configuration error.” In 2023, 900 million COVID-10 tests went out to Americans through the program, according to U.S. Health and Human Services.  Last month, U.S. regulators approved an updated COVID-19 vaccine that seeks to combat the KP variant strain, the dominant strain that has been circulating. Individuals as young as 6 months will be eligible to receive the shot. “Vaccination continues to be the cornerstone of COVID-19 prevention,” Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research said in a statement. “Given waning immunity of the population from previous exposure to the virus and from prior vaccination, we strongly encourage those who are eligible to consider receiving an updated COVID-19 vaccine to provide better protection against currently circulating variants.”

It’s fall, which means it’s time to get on the winter season shots. That includes vaccines for flu, RSV (for babies and the elderly) and, for anyone six months or older, COVID-19. While the new mRNA vaccines from Moderna and Pfizer-BioNTech have dominated the COVID-19 vaccine story, there is another type of shot that uses a more traditional vaccine-making technology, used by Novavax. The vaccine is generating interest among some people online who prefer the more tried and true approach behind the company’s shot, so here’s what you need to know. How is Novavax’s vaccine different from mRNA vaccines? Novavax uses a protein-based vaccine strategy, which means people getting the vaccine receive a protein made by the virus that their body’s immune systems then see as foreign and mount responses against. mRNA vaccines, by contrast, include snippets of mRNA genetic material from the COVID-19 virus’ spike protein. Novavax by first inserting the gene for a SARS-CoV-2 viral protein into an insect virus, then using this loaded virus to infect an armyworm, or larva, of a moth that infects cabbages. Using the larva, the virus then produces more copies of itself, and by default, more copies of the SARS-CoV-2 protein as well, and it is this COVID-19 protein that is then used in the vaccine. Bob Walker, chief medical officer at Novavax, says this method does a good job of mimicking the way the SARS-CoV-2 virus naturally infects the body, which could theoretically lead to some benefits in terms of the immune response the vaccine generates, although the company and others are still conducting deeper studies to find out whether that’s the case. “The construct resembles the virus in terms of how the [body’s] immune cells might see it—the full length of the spike protein that represents the natural configuration of the viral protein,” he says. “And that has certain potential advantages.” The protein is coupled with what vaccine makers call an adjuvant, or additional compound that further activates the immune system to enhance the body’s response to the virus. “One major advantage of the adjuvant is that it works not only on the antibody side in terms of the immune response, but it also activates the T cells,” says Walker. “And T cells have many functions in the body—one is to fight viruses, and the other is to help antibody-producing cells to make more antibodies.” Is Novavax’s vaccine approved by the U.S. Food and Drug Administration (FDA)? Novavax’s COVID-19 vaccine is not approved by the FDA yet, but it is available in the U.S. under emergency use authorization, which the FDA issued to the company in July 2022, and allows companies to make and distribute a product during a public health emergency while the FDA continues to review a broader set of data concerning its safety and efficacy. Novavax’s vaccine is safe and effective, but the agency is reviewing more robust and longer term data. Novavax has filed for full approval of its COVID-19 vaccine and expects a decision from the FDA by April 2025. Both Pfizer-BioNTech and Moderna have received approval for adults for their COVID-19 vaccines, in and , respectively, after first receiving . Their shorter timeline was due mainly to the fact that the mRNA technology streamlines the development and manufacturing time for the shots. Because Novavax’s vaccine-making process requires more time, and different types of testing, Walker says it’s taken longer to complete the regulatory requirements for approval. But “with each successive season, we are getting faster and more efficient in manufacturing our vaccines, and we think we will be able to shorten that difference in time,” he says. “But I don’t know that we will ever surpass mRNA [technology’s timeline] just because of the technological and testing requirement differences.” Which vaccine provides better protection against COVID-19? conducted by academic researchers over the past few years consistently show that there are few major differences between the mRNA and Novavax vaccines in terms of the immune responses they generate. Researchers generally measure this by looking at levels of neutralizing antibodies that the body makes against SARS-CoV-2, which were comparable across all three manufacturers’ vaccines. Some studies have also looked at T cell responses which also appear to be similar among the three shots so far. Is one vaccine better at protecting against the new COVID-19 variants? Over the summer, the that vaccine makers target the KP.2 strain of SARS-CoV-2 for the upcoming fall and winter season, and studies from Moderna, PfizerBioNTech, and Novavax show that each of the company’s updated vaccines provide strong protection against this strain as well as some of the even newer ones that have emerged in recent months. That’s because all of the variants remain related and are part of the Omicron group. I’ve heard Novavax vaccine has fewer side effects. Is that true? There haven’t been enough rigorous side-by-side comparisons of side effects and adverse events between the mRNA vaccines and the Novavax shot; instead each manufacturer has provided the FDA with reports of side effects that each has seen in its respective studies. But it appears that so far, people receiving the Novavax vaccine may be reporting fewer events such as fever, muscle aches, and headaches compared to those receiving either mRNA vaccine. All COVID-19 vaccines from the three manufacturers have been linked to an increased risk of inflammation of heart muscle, or pericarditis or myocarditis—most of the involving the risk with Novavax’s vaccines have come from outside of the U.S. Which vaccine should I get this year? “The best vaccine is the one that is in your arm,” says Walker. “We are in the fortunate position that we have multiple options, and are not relying on one technology to achieve very high levels of protection and safety. The FDA has determined that all of these vaccines are safe and effective.”

“She’s not Black. That’s what I heard. That she’s Indian,” singer and actress Janet Jackson, sister of the late Michael Jackson, recently stated about Democratic presidential nominee Kamala Harris, repeating the false claim that the Vice President has misrepresented her race/ethnicity. “Her father’s white. That’s what I was told,” Jackson said in an interview with The Guardian that was published on Saturday. “I mean, I haven’t watched the news in a few days,” she added.  Harris has consistently identified as both Black and Indian American, and, throughout her political career, assertions to the contrary have been repeatedly debunked. Her father, Donald Harris, is an economist and Stanford professor from Jamaica, while her mother Shyamala Gopalan, who died in 2009, was a biomedical scientist from India.  Jackson’s recent comments, however, echo misinformation previously spread by Harris’ Republican rival, Donald Trump, who in July told the National Association of Black Journalists that Harris “happened to turn Black and now she wants to be known as Black.” The former President reiterated his claim during the 2020 presidential election, saying, “I read that she was Black. Then I read that she was not Black.” The Guardian’s interview with Jackson sparked a whirlwind of reactions online, where social media posts criticizing and defending the singer have garnered millions of views. “This whole Janet Jackson thing just goes to show you how out of touch some celebrities are. I’ve always loved her but repeating lies!? Smh. If you don’t know about a subject, then don’t speak on it… especially with your platform,” read one social media post. Comedian D.L. Hughley stated that Jackson’s interview “sounded like a #Trump rally,” and a fan account for celebrities including Jackson labeled her remarks “uninformed.” Others, meanwhile, have defended Jackson over her doubts about Harris’ race. “As a 90s baby, I refuse to let y’all tarnish Janet Jackson for speaking her mind,” wrote Royce White, a former professional basketball player and a Republican Senate nominee in Minnesota, who added: “Y’all can take my Black card too.” Then the saga took an even stranger turn. Mo Elmasri, a person who claimed to be Jackson’s manager and whose LinkedIn profile lists him as a producer for Jackson’s documentary, said Sunday in a statement cited by multiple media outlets including Time—which first reported it—that Jackson “recognizes” her remarks on Harris’ race were “based on misinformation” and that she “apologizes for any confusion caused.” The statement added: “Janet respects Harris’ dual heritage as both Black and Indian and apologizes for any confusion caused. She values the diversity Harris represents and understands the importance of celebrating that in today’s society. Janet remains committed to promoting unity and understanding.” But later Sunday, representatives for the singer refuted Elmasri’s statement, saying that he was not authorized to speak on her behalf. Elmasri told The Guardian in a separate statement that he “was fired by Janet and Randy [Jackson], after attempts to improve her image in front of public opinion and her fans,” adding that this was “something I do not deserve.” Variety reported, citing sources close to Jackson’s team, that Elmasri was not believed to be directly associated with the singer. (The Guardian reported that Elmasri had never worked on Jackson’s team.) Jackson has been managed by her brother Randy for years, and the siblings, according to Variety, are unavailable for comment as they are mourning the recent passing of their brother Tito.   In her decadeslong entertainment career, Jackson has been a vocal champion for social justice and has used her public platform and music to advocate for racial equality, LGBTQ+ rights, and the fight against AIDS. When the Guardian reporter pushed back on Jackson’s claim that Harris isn’t Black and asked her if she thought the U.S. was ready for Harris, a woman of color, to be President, Jackson reportedly replied: “Honestly, I don’t want to answer that because I really, truthfully, don’t know. I think either way it goes is going to be mayhem.”

Kamala Harris’ presidential campaign has received endorsements from several pop stars, but one prominent singer, whose music and image the Harris campaign has embraced, has said she won’t be endorsing anyone in the upcoming election. Chappell Roan, the 26-year-old singer of "Good Luck, Babe!" told the Guardian in an interview published Friday that she isn't planning to endorse anyone before the November election, explaining that there are "problems on both sides." This statement has sparked debate on social media, with some praising Roan's stance while others criticize her for being "noncommittal" and accuse her of false equivalence, especially given the explicitly anti-LGBTQ stance of Harris' Republican opponent, former President Trump. “I have so many issues with our government in every way,” Roan told the Guardian. “There are so many things that I would want to change. So I don’t feel pressured to endorse someone. There’s problems on both sides. I encourage people to use your critical thinking skills, use your vote—vote small, vote for what’s going on in your city.” The Harris campaign has made efforts to connect with Roan's popularity. In July, shortly after entering the presidential race, the campaign posted a clip of Roan's 2023 song "Femininomenon" on social media. In August, after announcing her running mate, the campaign began selling a camouflage cap inspired by Roan's "Midwest Princess" merchandise. 🤭 — Kamala HQ (@KamalaHQ) is this real — Chappell Roan (@ChappellRoan) Roan's decision to withhold her endorsement is not entirely unexpected, considering her previous political stances against the Biden-Harris administration, particularly regarding transgender rights and the ongoing conflict in Gaza. She has publicly supported the LGBT community in her music and performances. At the 2024 Governors Ball in New York in June, Roan stated that she had declined an invitation to perform at the White House's Pride festivities. “We want liberty, justice, and freedom for all,” she said. “When you do that, that’s when I’ll come.” Dressed in a Statue of Liberty costume on stage, Roan referred to Emma Lazarus’ poem on the monument: “But in case you had forgotten what’s etched on my pretty little toes: ‘Give me your tired, your poor, your huddled masses, yearning to breathe free,’” she said. “That means freedom in trans rights, that means freedom in women’s rights, and … it especially means freedom for all oppressed people in occupied territories.” Roan later explained to Rolling Stone that she did not want “to be a monkey for Pride,” summarizing her political outlook as “I’m pretty, ‘F— the government, and f— everything that’s going on right now.’ I don’t have a side because I hate both sides, and I’m so embarrassed about everything going on right now.” Online reactions to Roan's non-endorsement have been largely negative. Some commenters assume she is a Republican, while others criticize her for borrowing from drag aesthetics and then seemingly supporting a party that would criminalize LGBTQ rights. Others point out her past stances against the Biden-Harris administration, accusing her of hypocrisy. However, some have defended Roan's reluctance to endorse Harris. Some users point to her vocal support of Palestine and suggest that younger generations, particularly those who have gained prominence recently, might not feel compelled to align with mainstream political figures. Others praise Roan for criticizing celebrity endorsements and encouraging direct political engagement. For her part, Roan told Rolling Stone: “It is not so black and white that you hate one and you like the other.” She also emphasized that she is not advocating for political apathy. "Right now, it’s more important than ever to use your vote, and I will do whatever it takes to protect people’s civil rights, especially the LGBTQ+ community," she said, adding: "I feel lucky to be alive during an incredibly historical time period when a woman of color is a presidential nominee."

COLOMBO, Sri Lanka — Anura Kumara Dissanayake, a Marxist leader, was sworn in as Sri Lanka's president on Monday. This followed an election where voters rejected the old guard, who they blamed for the country's economic crisis. Dissanayake, 55, the head of the Marxist-leaning National People's Power coalition, won the election on Saturday. He defeated Sajith Premadasa, the opposition leader, and 36 other candidates. Dissanayake received 5,740,179 votes, while Premadasa received 4,530,902. In a short speech, the new president committed to working with others to address the country's challenges. “We understand that we are taking over a country in a challenging situation,” Dissanayake said. “We don’t believe that a government, a single party or an individual can solve this deep crisis.” Just before the swearing-in ceremony, Prime Minister Dinesh Gunawardena resigned, allowing the new president to appoint a prime minister and a cabinet. The election took place as the country strives to recover from its worst economic and political crisis. He is the ninth person to hold Sri Lanka's powerful executive presidency, established in 1978 when a new constitution expanded the office's powers. Dissanayake's coalition is led by the Janatha Vimukthi Peramuna, or People's Liberation Front. This is a Marxist party that led two unsuccessful armed uprisings in the 1970s and 1980s to seize power through socialist revolution. Following their defeat, the JVP entered democratic politics in 1994 and has mainly been in opposition since then. However, they have supported several past presidents and briefly participated in government. The NPP also includes groups representing academics, civil society movements, artists, lawyers and students. Dissanayake was first elected to Parliament in 2000 and briefly served as agriculture and irrigation minister under then-President Chandrika Kumaratunga. He ran for president for the first time in 2019 and lost to Gotabaya Rajapaksa. Dissanayake's first significant challenge will be to fulfill his campaign promise to ease the strict austerity measures imposed by his predecessor Ranil Wickremesinghe under a relief agreement with the International Monetary Fund. Wickremesinghe has warned that any changes to the fundamental terms of the agreement could delay the release of a fourth tranche of nearly $3 billion. This economic crisis was caused by excessive borrowing to fund projects that didn't generate revenue, the impact of the COVID-19 pandemic, and the government's insistence on using limited foreign reserves to support its currency, the rupee. It led to shortages of essential goods such as food, medicine, cooking gas and fuel in 2022. This sparked large-scale protests, which forced then-president Rajapaksa to flee the country and resign. Wickremesinghe, who was then prime minister, was appointed to complete the remainder of Rajapaksa's term.