??AstraZeneca admits its Covid vaccine can cause side effects | ?? ???? Why Musk went to China after skipping India | ?? Prajwal Revanna's sex-scandal

Market Watch

• Indian benchmark indices ended the day in the green with the Sensex up 941.12 points at 74,671.28, and the Nifty up 223.45 points at 22,643.40.
• Sectorally, Nifty IT, Nifty Auto and Nifty Realty were the major laggards today.

AstraZeneca admits for first time in court documents its Covid vaccine can cause rare side effect

In a legal acknowledgement, AstraZeneca has admitted that in very rare cases, its Covid vaccine can cause Thrombosis with Thrombocytopenia Syndrome (blood clots and low platelet counts).

Why this matters: In India, the SII's vaccine Covishield, was developed using a master seed from Oxford University and AstraZeneca and was one of the most commonly administered vaccines during the pandemic.

The intrigue: The vaccine is no longer used in the UK . In May 2021, the UK Joint Committee on Vaccination and Immunisation (JCVI) advised that unvaccinated adults under 40 years old should be offered an alternative to the AstraZeneca vaccine where possible due to the extremely rare risk of blood clots.

The context: AstraZeneca is being sued in a class action lawsuit over allegations that its vaccine caused death and serious injuries related to TTS, which results in blood clots and low blood platelet counts.

• The pharmaceutical company has contested the claims but admitted in High Court documents that the vaccine can cause TTS in rare instances; however, it argues causation in individual cases is a matter for expert evidence.
• The admission could pave the way for a multi-million-pound legal payout with 51 cases already lodged in the High Court, seeking damages potentially worth up to ￡100 million.
• While AstraZeneca and the UK Government have been accused of strategic legal manoeuvring, the vaccine's updated product information from April 2021 includes the possibility of it triggering TTS, as acknowledged by UK regulators.

Elon Musk skips India, meets Chinese Premier

Elon Musk met with China's Premier Li Qiang in Beijing , where they discussed the future of Tesla's development in China, including the potential rollout of Full Self-Driving software and the transfer of data overseas.

Why this matters: This comes just days after Musk cancelled a scheduled meeting with PM Modi in India where it was anticipated that he would discuss Tesla's potential entry into India.

• However, it is important to note that Tesla had informed investors that they would increase production, including that of cheaper vehicles, on its existing production lines before expanding to new manufacturing lines . Hence, his visit to China is in line with what the company stated and can’t be seen as a “snub” to India.

Also read, why Tesla may not be coming to India soon

What Musk got from China: A glowing report from a top Chinese auto association said Tesla's Model 3 and Y cars were among the models found to be compliant with China's data security requirements.

• Other sources added that he has bagged a collaboration with Baidu to secure a mapping license for data collection on China's public roads so that Musk could deploy Tesla’s full-self-drive algorithm in China.

Clip du jour

This confusing video of a Pakistani social media influencer chanting Jai Shree Ram at pro-Palestine protesters in the US, all while wearing an Israeli flag.

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Deve Gowda's Grandson Claims Sex Videos "Morphed", Files Police Complaint

Prajwal Revanna, the grandson of former Prime Minister HD Deve Gowda and current Hassan MP, has filed a complaint with the police claiming that circulating sex videos are doctored to damage his reputation and affect the voter perception ahead of the Lok Sabha elections.

The context: Hundreds of pen drives were found discarded at bus stops and parks in Hassan ahead of the April 26 polls in which Prajwal was a candidate. The pen drives contained objectionable videos showing Revanna in a compromising position with multiple women.

• In addition to the video scandal, a 47-year-old woman who worked as a house help at Revanna's home has accused both Prajwal Revanna and his father, HD Revanna, of sexual assault, with the police registering a case under various IPC sections based on her complaint

The case: Allegations against Revanna include harassment and sexual abuse of women, with reports of thousands of victims and video evidence being circulated just before the polls.

• Complaints have been lodged against individuals such as Naveen Gowda for allegedly disseminating manipulated videos to defame Prajwal Revanna, suggesting a potential smear campaign.

The intrigue: Revanna has since reportedly left for Germany, and the JDS, with which he is affiliated, has also formed an alliance with the BJP, further complicating the political ramifications of this scandal.

How the party has responded:

ICYMI

• ?? Humza Yousaf has stepped down as Scotland's first minister and as leader of the Scottish National Party.
• ??? Indore’s Congress candidate has switched sides and joined the BJP leading to speculation that the seat could go the Surat way.
• ???? Chinese regulators are afraid of an SVB-style collapse for regional banks in the country.
• ???? After Singapore and Hong Kong, the US has become the latest country to reject MDH spice mixes.
• ?? Dubai has begun work on the world’s largest airport terminal .