a-fresh-wave

By Jason Gale Feb. 22 (Bloomberg) — Swine flu may have infected at least 63 million people in the U.S. last year, according to a study in Pittsburgh, where almost every second schoolchild probably caught the pandemic virus. Blood tests on Pittsburgh residents found 45 percent of people aged 10 to 19 years had antibodies against the new H1N1 flu strain . About 22 percent of people across all groups developed immunity to the virus by early December and a quarter of those born in the 1920s may have already had protective antibodies before the pandemic resulting from prior flu infection, researchers at the University of Pittsburgh found. The findings, reported online yesterday in the Public Library of Science , suggest a fresh wave of swine flu infections isn’t likely unless the virus mutates or people become more susceptible to infection. A World Health Organization advisory panel is holding a teleconference tomorrow to discuss whether the first influenza pandemic in 41 years has peaked. “With current estimates of seroprevalence and continued increases in population due to vaccination, a significant change in viral antigens or a change in population immunity would be required for further disease spread,” Ted Ross, associate professor of microbiology at the university, and colleagues wrote. “We cannot rule out the possibility that geographical pockets of limited immunity may be present in which a third wave may yet occur.” Symptom-Free Cases At least 15,921 people have died from swine flu as the fast-moving pandemic spread to 212 countries and territories since its discovery in North America in April, the WHO said in a Feb. 19 statement . The global tally underestimates the actual number as many deaths are never tested or recognized as influenza related, the Geneva-based agency said. In yesterday’s study, researchers looked for infection- fighting antibodies against the 2009 pandemic flu strain in 846 anonymous blood samples collected in November and early December from people in southwestern Pennsylvania’s Allegheny County ages 1 month to 90 years. The tests identified people who caught the virus, including those who didn’t develop a fever, cough or other flu-like symptoms. The researchers compared the results against tests on blood samples collected in 2008, of which 6 percent contained antibodies that protected against swine flu, probably as a result of infection from a related influenza strain. Children and adolescents in the 10- to 19-year age group had the highest prevalence of swine flu antibodies, while 29 percent of blood samples from children younger than 9 years tested positive. Residents in the 70- to 79-year age group had the lowest prevalence rate of 5 percent. When the researchers extrapolated their findings across the county’s 1.2 million residents, they found swine flu antibodies in 21.5 percent of people, including more than 70,000 school-age children. “Extrapolating these results further to the entire US population, we estimate that 63 million persons became infected in 2009,” the authors wrote. To contact the reporter on this story: Jason Gale in Singapore at j.gale@bloomberg.net

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Swine Flu May Have Infected Every Second Schoolchild in U.S., Study Finds

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By Rita Nazareth Feb. 11 (Bloomberg) — U.S. stocks rose to the highest level in a week after European leaders pledged to aid Greece and Philip Morris International Inc. announced a $12 billion share buyback. Philip Morris International added 3.4 percent to $48.41, reversing a 1.6 percent retreat. Freeport-McMoRan Copper & Gold Inc. and Exxon Mobil Corp. led gains among materials and fuel producers as base metals and oil climbed in New York trading. Allegheny Energy Inc. jumped 10 percent after FirstEnergy Corp. said it would buy the utility for $4.7 billion. The Standard & Poor’s 500 Index rose 0.7 percent to 1,075.58 at 11:49 a.m. in New York after falling as much as 0.7 percent. The Dow Jones Industrial Average advanced 84.19 points, or 0.8 percent, to 10,122.57. European leaders ordered Greece to get the group’s highest budget deficit under control and said they were prepared to take “determined” action to staunch the worst crisis in the euro’s 11-year history. The accord left open how the European Union would respond to a fresh wave of speculative attacks against Greece or countries such as Spain and Portugal, which are also struggling to cut their budget deficits. “The recent news on Greece has been very encouraging,” said Peter Jankovskis , who helps manage about $1.7 billion as co- chief investment officer at Oakbrook Investments in Lisle, Illinois. “Investors are growing more optimistic on their accord and more confident that the situation won’t have spillover effects to the U.S.” Aiding Stability Spanish Prime Minister Jose Luis Rodriguez Zapatero said the EU’s agreement brought stability. He spoke at a news conference in Brussels today. Luxembourg Prime Minister Jean- Claude Juncker , who heads the panel of euro-region finance ministers, said all euro nations are ready to help Greece. EU officials reached an agreement to deal with Greece’s debt crisis, European Commission President Jose Barroso said. “There is an accord, the presidency will announce it,” Barroso told reporters before an EU summit in Brussels today. Speculation that Greece and nations such as Spain and Portugal are unable to repay their debt caused stocks to plunge on Feb. 4, driving the S&P 500 down 3.1 percent in its biggest drop since April. Investors bet that defaults would end the economic recovery that began almost a year ago. To contact the reporter on this story: Rita Nazareth in New York at rnazareth@bloomberg.net .

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Stocks in U.S. Gain on EU Pledge to Help Greece; Philip Morris Shares Rise

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EU Leaders Demand Greek Budget Cuts, Pledge to Maintain Euro’s Stability

February 11, 2010

By James G. Neuger Feb. 11 (Bloomberg) — Euro-region leaders ordered Greece to get the bloc’s highest budget deficit under control and said they are prepared to take “determined” action to staunch the worst crisis in the currency’s 11-year history. Greek bonds rose after officials including German Chancellor Angela Merkel , Greek Prime Minister George Papandreou , and European Central Bank President Jean-Claude Trichet brokered the deal before a European Union summit in Brussels. The euro was little changed at $1.3717. “Euro area member states will take determined and coordinated action if needed to safeguard financial stability in the euro area as a whole,” President Herman Van Rompuy told reporters. “We fully support the efforts of the Greek government and their commitment to do whatever is necessary including adopting additional measures.” The accord left open how the EU would respond to a fresh wave of speculative attacks against Greece or countries such as Spain and Portugal, which are also struggling to cut their budget deficits. The statement echoes prior calls for Greece to clean up its accounts and put the government under International Monetary Fund monitoring. Greek bonds , which have plunged since December on concern about the country’s ability to tackle its deficit, extended a three-day rally, with the yield on the two-year government bond falling 56 basis points to 4.899 as of 1:39 p.m. in Brussels. Leaders are scheduled to brief reporters after the summit and finance ministers meet in Brussels on Feb. 15-16. The pre-summit statement bore the imprint of Merkel, who as head of Europe’s largest economy pressed for strict conditions on any European financial lifeline for countries that spend too much and save too little. “Greece won’t be left alone but there are rules and these rules must be adhered to,” Merkel told reporters. “On this basis we will agree on a statement.” To contact the reporter on this story: James G. Neuger in Brussels at jneuger@bloomberg.net

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