West Ham boss Julen Lopetegui believes his side “deserved to win” as they sealed a 2-0 victory over Newcastle at St James’ Park. Lopetegui came into the game under pressure following some poor displays from the Hammers in recent weeks but they earned a hard-fought victory to end the Magpies’ three-game winning spell. Despite a promising opening from the hosts, Tomas Soucek headed West Ham in front before Aaron Wan-Bissaka’s first goal for the club after the break wrapped up victory. Lopetegui was pleased with his side’s display following a “tough match”. He said: “I am happy for the three points and am very happy against a good team like Newcastle, who have good players and a fantastic coach. “I think today was a tough match and we were able to compete as a team. “I think we deserved to win. Today they had many moments in the first half, but I think the second half we deserved to win and we are happy because you have to do these kind of matches against this type of team if you want to overcome them.” Newcastle started brightly and had plenty of chances in the first half especially, but the visitors responded after the break by retaining possession well. The win eases the pressure on Lopetegui, whose West Ham side face Arsenal on Saturday, and he believes the victory is an important feeling for his players. He said: “I think the only thing that is under our control is to play football, to improve, to defend well, to convince the players we are able to do better. “Today we did, but I think the only thing we can do is to do the things that are under our control, not today but every day. “So we had to keep with this mentality, but above all let me say we are happy for the players because they need this kind of feeling as a team to believe that we are able to do well as a team, to put the best for each player of the team.” Newcastle boss Eddie Howe admitted defeat was a missed opportunity for his side. The Magpies missed a series of chances in the first half, including efforts from Joe Willock and Sean Longstaff, before Alexander Isak blasted a chance off target. Anthony Gordon also rolled an effort just wide of the post after the break and Isak headed wide of goal. Three points could have seen Newcastle move into the top six and Howe admitted his side need to learn from the match. “Yes, massive because the league is so tight that a couple of wins and the whole picture looks very different,” Howe said. “We’ll kick ourselves tonight because we knew the opportunity we had, a home game, Monday night, a great moment for us potentially in our season, so we have to learn from that and come back stronger.”TV’s Dr. Oz invested in businesses regulated by agency Trump wants him to lead
Concerns raised over hospitality staff after smoking curbs ditchedFinland beats US 4-3 in OT in world junior hockey; Canada rebounds from loss to top Germany 3-0It’s been a horror year for many Australian brands forced to close their doors amid rising costs, with 40 per cent more businesses filing for insolvency since before the Covid-19 pandemic. CreditorWatch chief economist Ivan Colhoun said businesses were facing ongoing financial pressures much like their customers who were finding ways to cut their budget amid cost-of-living pressures. “Together with some greater caution in discretionary spending and softness in interest rate sensitive sectors of the economy, this unsurprisingly has led to higher voluntary business closures and some rise in insolvencies,” Mr Colhoun said. “We’re yet to see the extent to which the 1 July tax cuts now flowing through the economy will ease some of the pressures on consumers and businesses.” The latest CreditorWatch business risk index found that Aussie businesses were failing at their highest rate (5.04 per cent) since the height of the Covid-19 pandemic in October 2020 (5.08 per cent). The average failure rate for Australian businesses has climbed from 3.97 per cent in October last year. The food and beverage sector recorded the highest failure rate of all industries in October, increasing to 8.5 per cent from 8.3 per cent in the 12 months up to September this year. Administrative and support services were next with a 6.0 per cent failure rate in October, followed by arts and recreation services (5.9 per cent) and transport, postal and warehousing (5.8 per cent). Meanwhile, both the retail and construction industries look to be levelling out after each recorded a 5.5 per cent increase in insolvencies or business deregistrations during the same time period. Big brands under pressure During the 2023-2024 financial year, 2832 construction companies went into insolvency in Australia, according to ASIC data. Some of those failed companies will have lasting impacts on vital infrastructure and business projects across the country. Quasar Construction is just one of the construction companies that fell into administration this year. It continues to owe an estimated $60m to 600 creditors after its collapse earlier this year. The company’s collapse potentially impacts 10 projects across NSW, including a Bunnings, a $50m shopping centre and parts of the new Western Sydney Airport. Financial woes have also impacted the retail sector this year, with international brands like Dion Lee collapsing despite the company’s best efforts. Not even dressing US megastar Taylor Swift at the 2024 Super Bowl helped the popular fashion brand survive the horror year in fashion retail. Queensland University of Technology marketing professor Gary Mortimer told NewsWire that high-end fashion brands like Dion Lee had a “very small footprint and market size” that was hard to compete against brands such as Burberry or Chanel. “When you think about the likes of Chanel, even if their fashion business isn’t doing so well, they can certainly draw business from other revenue like make-up and cosmetics,” Mr Mortimer said. “Big brands like Louis Vuitton, Moet, and Hennessy have very differential business models, so if one element of the model or one element of the business isn’t working so well, they pull money from other businesses. “Dion Lee wasn’t able to do that.” Mr Mortimer said brands were having to come up with ways to beat their competition, but that didn’t always work out for the best. He said brands like Mosaic Brands, which went into voluntary administration in October owing $250m to creditors, tended to fall prey to “self cannibalisation”. Mosaic Brands confirmed it was in trouble earlier this year when it announced it would shut down its entities Autograph, BeMe, Crossroads, Rockmans and W.Lane in a bid to improve investment in its other brands Katies, Millers, Noni B and Rivers. Mosaic Brands had more than 700 stores and 10 online shops. Mr Mortimer said this type of retailing structure could be problematic in the long run. “Mosaic has five or six brands that are all targeting the same customer of the middle-aged woman,” he said. “It was all essentially the same type of product. “In a centre where you’d have two or three of the same brands, you’re all competing against yourself for the same customer.” Cost-of-living pressures The University of Sydney retail expert Lisa Asher said the cost-of-living crisis continuing to impact consumers’ discretionary spending was a major issue going against smaller Australian brands. “Those below 65, they’re going into savings, but those over 65 have the money (to spend),” Ms Asher told NewsWire. “Because of that, what it’s done is people have to priorities spend, and it’s shelter and food and basic necessities.” Mr Mortimer said consumers who were tightening their budgets could have a lasting impact on businesses. “Where we see discretionary spending categories like fashion, footwear or accessories sales have flatlined or in some cases have declined, it’s because households are more concerned about the cost of food, the cost of rent, servicing their mortgage, electricity bills going up and utilities bills going up,” he said. “In that certain economic climate, certain categories tends to trade less and decline in sales.” Ms Asher said consumers were more willing to turn to fast fashion, like Temu or Shein, when they want to buy something new instead of spending money on quality items. “What has happened because of this, within apparel, there’s been lot of changes within apparel and clothing,” she said. “Fast fashion and it’s actually killing off traditional apparel brands we’ve seen historically.” Trying to find a way forward Unfortunately, more businesses are likely to shut up shop in 2025. CreditorWatch forecasts food and beverage businesses are likely to fail at 9.1 per cent in the next 12 months. Mr Mortimer said retailers normally liked to rely on Christmas spending to help boost their profits as they head into the new year. “We still spend about $36bn in the month across the retail sector but that’s not more than what we spent last year,” he said. “As we move into the busy Christmas period, it’s projected that we will spend $69.7bn in the six weeks leading up to Christmas but that’s essentially what we spent last year. “Retailers aren’t expecting a significant kick in these sales as we move into the busy Christmas period.” But all eyes will be on the Reserve Bank of Australia in the new year as people look to see if interest rate relief is on the way. “A slowdown in the inflation rate will certainly help businesses, but we must remember this just means that price rises have slowed down, so the cost pressures remain,” CreditorWatch chief executive officer Patrick Coghlan, said. “In most cases, you won’t see the cost of goods and services coming down. “Businesses desperately need interest rates to come down so households have some relief in cost-of-living pressures and start spending more.” Originally published as Thousands of Australian businesses collapse during 2024 amid rising costs
MELBOURNE, Australia and INDIANAPOLIS , Dec. 30, 2024 /PRNewswire/ — Telix Pharmaceuticals Limited (ASX: TLX; Nasdaq: TLX, Telix, the Company) today announces that it has submitted its Biologics License Application (BLA) to the United States (U.S.) Food and Drug Administration (FDA) for TLX250-CDx (Zircaix®[1], 89 Zr- girentuximab) kidney cancer imaging[2]. TLX250-CDx is an investigational PET[3] drug product for the non-invasive diagnosis and characterisation of clear cell renal cell carcinoma (ccRCC), the most common and aggressive form of kidney cancer. If approved, TLX250-CDx will be the first and only targeted PET agent specifically for kidney cancer to be commercially available in the U.S., further building on Telix’s successful urology imaging franchise. The FDA is expected to advise the PDUFA[4] goal date following the 60-day administrative review of the application. Kevin Richardson , Chief Executive Officer, Precision Medicine at Telix, stated, “We are pleased to be progressing the BLA for TLX250-CDx, which has been granted Breakthrough designation, and may therefore be eligible for priority review. Telix continues to target a full U.S. commercial launch in 2025 addressing a major unmet medical need for patients with suspected ccRCC.” About TLX250-CDx TLX250-CDx (Zircaix® 1 ) is an investigational PET agent that is under development for the diagnosis and characterisation of ccRCC. Telix’s pivotal Phase III ZIRCON trial (ClinicalTrials.gov ID: NCT03849118 ) evaluating TLX250-CDx in 300 patients, of whom 284 were evaluable, met all primary and secondary endpoints, including showing 86% sensitivity and 87% specificity and a 93% positive-predictive value for ccRCC across three independent radiology readers[5]. Telix believes this demonstrated the ability of TLX250-CDx to reliably detect the clear cell phenotype and provide an accurate, non-invasive method for diagnosing and characterising ccRCC. Confidence intervals exceeded expectations amongst all three readers, showing evidence of high accuracy and consistency of interpretation. About Telix Pharmaceuticals Limited Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia , with international operations in the United States , Europe ( Belgium and Switzerland ), and Japan . Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (Nasdaq: TLX). Telix’s lead imaging product, gallium-68 ( 68 Ga) gozetotide injection (also known as 68 Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the U.S. Food and Drug Administration (FDA)[6], by the Australian Therapeutic Goods Administration (TGA) [7], and by Health Canada [8] . No other Telix product has received a marketing authorisation in any jurisdiction. Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn . Telix Investor Relations Ms. Kyahn Williamson Telix Pharmaceuticals Limited SVP Investor Relations and Corporate Communications Email: kyahn.williamson@telixpharma.com This announcement has been authorised for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board. Legal Notices You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our registration statement on Form 20-F filed with the SEC, or on our website. The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States . The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement. This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enrol and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialisation of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements. ©2024 Telix Pharmaceuticals Limited. The Telix Pharmaceuticals®, Illuccix® and Zircaix® 1 names and logos are trademarks of Telix Pharmaceuticals Limited and its affiliates – all rights reserved. View original content to download multimedia: https://www.prnewswire.com/apac/news-releases/telix-files-tlx250-cdx-zircaix-bla-for-kidney-cancer-imaging-302339972.html SOURCE Telix Pharmaceuticals Limited