The Fiat-PSA agreement loses ambition but also uncertainty | Opinion

The marriageable couple Fiat Chrysler Automobiles (FCA) and Peugeot maker PSA can finally walk down the aisle. The Jeep maker has agreed to cut a huge dividend linked to its planned merger by nearly half, but its shareholders will get more savings and shares in parts maker Faurecia. The change will boost the balance of the future Stellantis group and will eliminate the anguish that persists in the operation.

Moderation in the Covid-19 era makes sense on multiple levels. By reducing an originally planned 5.5 billion payment to € 2.9 billion, Fiat admits the inevitable: that it needs to preserve cash in the pandemic.

It also eliminates the threat of a challenge from PSA shareholders to the terms of the original deal. Fiat has been burning cash in the crisis. Paying himself a huge bonus would also have been odd after he obtained a € 6.3 billion loan backed by the Italian state, the biggest help of the crisis for a European carmaker.

Fiat shareholders are being compensated by other means. Under the terms of the revised deal revealed Monday, PSA will distribute its 46% stake in auto parts maker Faurecia to all Stellantis shareholders, rather than just PSA’s. This means that FCA investors will get 50% of that stake of around 2,500 million euros of current market value, or almost 1,300 million, in addition to the 2,900 million euros of cash dividend.

Even adding Faurecia shares, Fiat investors appear to be € 1.3 billion short of the original dividend plan. But they can get an optional dividend of 500 million later. And they have been promised that their share of the annual savings will be worth at least 5 billion euros, more than originally estimated at 3.7 billion euros and that it will amount to about 35 billion once they are taxed and capitalized.

Tuesday’s rally in Fiat shares reflects in part the fact that its shareholders could have expected a stronger blow to send the ball of the deal flying over the net. But it is also driven by much greater confidence in its completion.

At current market prices, the merger spread between the two stocks has dropped below 4% from almost 12% prior to the announcement of the deal. That’s the value of removing a large dose of distress.

The authors are columnists for Reuters Breakingviews. Opinions are yours. The translation, of Carlos Gómez Down, it is the responsibility of Five days


Balance and deposit of My Scholarship To Begin in September – Noticieros Televisa

The month of September and, for the students and parents of the Mexico City, means the arrival of first deposit of the program My Scholarship To Start. How much should it correspond to? We will tell you below.

We recommend you: How to register for the My Scholarship to Start 2020 program online

Through his social networks, the Guaranteed Education Trust (Fidegar) announced that this September 1, the deposit corresponding to the month of September was made, which can be consulted in the app “Get More / My Scholarship to start” or directly in the Internet page.

The balance that must appear will depend on the grade level of the students. Thus, the children of preschool will receive 300 pesos; primary and high school 330; and for those of Multiple Attention Centers (CAM) 400 pesos.

He Fidegar also announced that the complementary deposit corresponding to the Support for School Uniforms and Supplies program, which corresponded to 50%. The remaining percentage was deposited in August according to the agency.

He 50% support for uniforms and school supplies is as follows: 360 pesos for preschool, Community Centers and CAM of the same level; 410 for primary and CAM of the same level; 450 for secondary and CAM of the same level; and 450 for CAM work.

He Fidegar specified that students of new record the program will soon receive their corresponding deposits, this because the validation of your data still in process.

He registry to receive My Scholarship to Start started on August 14, but will be available until next December 13th and so far, according to the agency itself, 450 thousand students have enrolled.

This support will be given during the 10 months that comprise the 2020-2021 school year to basic education students.


‘All airports are enabled from September 1’: Duque – Health

President Iván Duque announced during the Prevention and Action program that “all airports in the national territory are enabled as of September 1, but that the routes and frequencies will be part of the Mintransporte connectivity plan. “

We are going to have very clear guidelines on issues such as national air transport, which we want to open much more quickly, but obviously with special observance in those municipalities with high affectation“Duque mentioned.

(You may be interested in: Number of deaths from covid reaches 17,889; 395,470 are already recovered)

In his speech, the Vice Minister of Public Relations of the Ministry of the Interior, Daniel Palacios, ratified that from September 1 all the country’s airports will enter service. “As long as the health emergency continues, they will have specific routes and biosecurity controls. The routes and frequencies will be part of the Mintransporte and Aerocivil connectivity plan“he added.

The president also took stock of the latest measures adopted by the Government in the face of the health crisis that originated in the country due to the new coronavirus pandemic and explained details of the entry into the new stage called selective isolation and responsible individual distancing.

Throughout the month of September we will be observing the behavior of the pandemic, how the measures are going, how the protocols are progressing, how the entire response capacity is articulated with governors and mayors, “added Duque.

Health Minister Fernando Ruiz, for his part, indicated what selective isolation consists of, the new stage that begins to rule from September 1.

(Read also: What you should know if you want to volunteer for the covid vaccine)

“In this new phase, the country will not be governed by exceptions but by specific restrictions on events and crowds, among other activities. We will start a new phase where we will no longer be governed by exceptions, where we will continue to advance in the opening of sectors with the protocols that have been established by the Ministry of Health“, explained the official.

Ruiz added that “the selective isolation seeks that those people with suspected contagion, who have a confirmed diagnosis or who have had close contact with infected people, isolate themselves, even before carrying out the test.”

The minister also clarified that the health emergency continues because there is still the possibility of outbreaks and other effects, given the different stages in which each territory of the country is.

(Also read: Who can leave and who cannot as of September 1?)

Duque also referred to the most recent figure released by the Ministry of Health on covid-19, which reported 277 more deaths this Tuesday, bringing the total number of deaths in the country to 17,889.

The President stressed that “today a goal has been met and that is that those recovered exceed 70%, that means that we have 395,470 recovered, only today we had 11,299; that message is fundamental, 70% of the people attacked by the covid-19 in the country are recovered “.

(We recommend: ‘From September you can travel by road’: Government)

Finally, Duque made a recognition on the National Healthcare Day to all the health workers who have worked intensely morning and afternoon, with so much commitment to saving lives in the framework of this pandemic.

We also invite you to read:

First case of Sars-CoV-2 reinfection documented

The covid-19 pandemic slows down in most of the world

‘Slowly but surely’: this will be the economic reactivation in Bucaramanga



When cirrhosis of the liver becomes fatal


International research association determines three forms of “acute decompensated liver cirrhosis”

by Adolf Albus

(27.08.2020) If the body can no longer compensate for the gradual failure of the liver as a result of liver cirrhosis, there is a risk of acute decompensation of the liver cirrhosis. In some patients, this quickly develops into an often fatal acute-on-chronic liver failure, in which other organs such as the kidney or brain fail.

In a study funded by the EF Clif Foundation, an international team of researchers led by Prof. Jonel Trebicka from the Frankfurt University Hospital found out which patients are particularly at risk. The scientists have thus laid the basis for the development of preventive therapies to prevent acute-on-chronic liver failure. (Journal of Hepatology, DOI 10.1016 / j.jhep.2020.06.013)

Our liver has many functions: it stores nutrients and vitamins, produces glucose, clotting factors and hormones, and breaks down toxins, drugs and alcohol. Chronic heavy alcohol consumption, viruses or other diseases can overload the liver and become chronically ill. If left untreated, end-stage chronic liver disease leads to cirrhosis of the liver, in which liver tissue is converted into connective tissue and the liver is less and less able to perform its tasks. The consequences: the blood’s ability to clot is restricted, toxic metabolic products accumulate, the liver is no longer properly supplied with blood and the blood pressure in the portal vein that supplies the liver rises.

The body tries to compensate for the reduced functions of the liver. For example, as a result of the increased portal pressure, bypass circuits develop through the veins of the esophagus, stomach, and intestines, which expand into varicose veins. If such a compensation is no longer possible at some point as the disease progresses – doctors then speak of acute decompensation of the liver cirrhosis – the situation becomes life-threatening: Tissue fluid (ascites) collects in the abdominal cavity, bacterial infections and internal bleeding occur roughly in the esophagus. Difficulty concentrating, mood swings or sleepiness are signs of intoxication of the brain (hepatic encephalopathy), which can lead to hepatic coma.

A Europe-wide clinical study led by Prof. Jonel Trebicka, which was carried out under the umbrella of the European Foundation for the Investigation of Chronic Liver Failure, determined for the first time three clinical course variants of patients who were admitted to hospital with acute decompensation of liver cirrhosis.

The first clinical variant is characterized by high levels of inflammation in the blood, which indicate inflammatory reactions throughout the body. Within three months of being admitted to the hospital, several organs of the body fail: the acute decompensation becomes an “acute-on-chronic liver failure” (ACLF). Therefore, the medical professionals named this variant as pre-ACLF. More than half of the patients die from it, after a year only a third of them are still alive.

The patients of the second clinical course variant do not develop ACLF and have moderate inflammation values, but suffer from a significantly increased portal vein blood pressure. Around 20 percent of them die within the next three months, another 15 percent within the following year. The doctors called this variant “unstable decompensated liver cirrhosis”.

Patients of the third clinical course variant did not show any severe inflammation values ​​or frequent complications. You won’t develop an ACLF in the first three months. However, one in ten of them still dies within a year. The doctors called this variant “stable decompensated liver cirrhosis”.

Study leader Prof. Jonel Trebicka, gastroenterologist and hepatologist at the Medical Clinic I of the University Hospital Frankfurt, explains: “We are now working intensively on developing new diagnostic options, especially for groups of pre-ACLF patients, so that this group can be admitted to hospital identify and initiate countermeasures at an early stage. The development of preventive therapies for the often fatal ACLF is one of our most important research tasks in this context. “

Prof. Dr. Stefan Zeuzem, Dean of the Faculty of Medicine and Director of Medical Clinic I at the University Hospital Frankfurt and co-author of the study, explains: “Liver diseases are one of the main focuses of Medical Clinic I, and we offer numerous special outpatient clinics for patients with acute and chronic liver diseases on. On the one hand, we were able to observe patients for the study. On the other hand, the research results to improve ACLF prevention and therapies very quickly benefit our and all patients. “

The research results are part of the Europe-wide study called PREDICT. The study monitors the clinical course of acute decompensations of liver cirrhosis to find early signs of developing acute-on-chronic liver failure (ACLF). The study is funded by the European Foundation for the Study of Chronic Liver Failure. 136 scientists from 47 centers and institutions in 14 European countries are involved in PREDICT.

Publikation: Jonel Trebicka, Javier Fernandez, Maria Papp, Paolo Caraceni, Wim Laleman, Carmine Gambino, et al.: The PREDICT study uncovers three clinical courses of acutely decompensated cirrhosis that have distinct pathophysiology. Journal of Hepatology,


They extend ‘pico y cédula’ until August 31 in Barranquilla

Barranquilla continues to advance towards a new stage in the economic reopening process. Within the framework of this process, the district mayor’s office announced that the measure of ‘peak and cedula’ with even and odd numbers is maintained for the departures that citizens must necessarily make.

As stated by the District, the current schedule will be in effect until August 31. In addition, she recalled that the schedules for the practice of individual physical activity for adults between 18 and 69 years old are maintained: between 5:00 and 8:00 a.m. and between 5:00 p.m. and 8:00 p.m.

Likewise, the district administration indicated that the restriction for the use of common spaces such as fields and games for children is maintained, despite the fact that the indicators in the city continue to register a constant improvement.

As stated by the District, the recovery rate is close to 85% and the ICU availability is 48%, while the average positivity rate is 14.3% during the last 7 days, that is, 16, 2 percentage points below the national average (30.5%).

“We continue to advance, but we cannot lower our guard. To the extent that this trend continues and we make gradual, safe and responsible reopening, we will recover the productive and social life of the city, ”said Mayor Jaime Pumarejo Heins.

New pilots

The District indicated that the Ministries of Health and the Interior authorized pilots for the practice of individual sports, as well as the operation of sports venues, gyms, cinemas and games of chance, which they will begin to review for future reopening.

In relation to the ‘Barranquilla Deportista’ plan, the practice of individual sports, nautical, tennis and athletics is contemplated, while the opening of gyms will be done with air exchange or effective ventilation.

The opening of sports fields and / or stages has been proposed in open spaces for the practice of permitted group sports, while the pilot of cinemas would be launched in open spaces (drive-in cinema).

Likewise, games of chance must comply with all capacity conditions including the review of central airs, correct air circulation and HEPA filters.

On the other hand, the national government gave endorsement to expand the pilot of restaurants, allowing their operation in terraces or closed places with air exchange or effective ventilation.

Pumarejo indicated that the construction of a plan to reactivate the tourism sector is underway in conjunction with the Ministry of Commerce, Industry and Tourism and the Presidential Council for Economic Affairs.

“We want to become pioneers in the reactivation of the tourism sector, focused on the potential of Barranquilla in the production chain of business and event tourism, in addition to attracting foreign investment with an export vocation, and thus be an example of resilience and good practices for resume the path of growth, “said the mayor.

Restaurant pilot balance

The district administration also delivered a positive balance on the start of the gastronomic sector pilot: the 30 restaurants registered between 40% and 80% of attendance, increased sales and a large number of reservations for this weekend.

He also explained that they have been working hand in hand with unions, businessmen and workers from other sectors to return to work in the safest way.

“We have been active in providing technical tools and support to the different activities and sectors in their reactivation process, through the District’s Entrepreneur Support Unit and with the validation and pedagogy visits of the biosafety protocols,” said the Secretary of Economic Development, Ricardo Plata Sarabia.


Coronavirus in 12 Westphalian schools, 2 close – Last Hour

(ANSA) – BERLIN, AUGUST 14 – Covid does not spare schools in Germany: also in North Rhine-Westphalia, two days after the reopening, 12 schools are affected by the epidemic. Two have already had to close their doors, while the other ten schools have been partially closed, with groups and classes in quarantine. To report the budget is the local Minister of Education makes the Rheinische Post due out tomorrow, according to an anticipation. (HANDLE).