US Business

Fifty-five websites have been seized for illegally live-streaming matches from the World Cup in Qatar, the US Justice Department said Monday.

The websites were shut down after a FIFA representative identified sites being used to distribute copyright-infringing content without the authorization of the soccer world governing body, the department said in a statement.

FIFA holds exclusive rights to the World Cup, which has reached the semi-final stage.

“While many may believe that such websites do not constitute serious threats, the infringement upon rights holders of any intellectual property is a growing threat to our economic viability,” said special agent James Harris of the Homeland Security Department.

“The impact can be felt across multiple industries, and it can be the conduit to other forms of criminal activity,” Harris said.

The Justice Department did not identify the seized websites but said visitors to the sites would be redirected to another site for additional information.

The United States slapped sanctions on the son of Zimbabwe’s president and three others for alleged involvement in corruption Monday, one day before President Joe Biden hosts a summit with African leaders in Washington.

The US Treasury Department sanctioned Emmerson Mnangagwa Jr, son of Zimbabwe President Emmerson Mnangagwa, for his involvement with Kudakwashe Tagwirei and his company, Sakunda Holdings, which were singled out for sanctions related to alleged corruption and human rights violations in 2020.

The Treasury also placed Tagwirei’s wife Sandra Mpunga, Nqobile Magwizi, and Obey Chimuka, and two companies controlled by Chumuka, Fossil Agro and Fossil Contracting, for their involvement with Sakunda.

It said Tagwirei has been granted favorable state contracts and special access to hard currency, and “in turn… provided high priced items such as expensive cars to senior-level Zimbabwean government officials.”

“Since former Zimbabwe President Robert Mugabe’s 2017 departure, Tagwirei used a combination of opaque business dealings and his ongoing relationship with President Mnangagwa to grow his business empire dramatically and rake in millions of US dollars,” it said.

Mpunga is executive director of Sakunda and Magwizi is chief marketing officer, according to Treasury.

It said Chimuka is close to Tagwirei and has benefitted from large government program contracts, also involving Sakunda, which “failed to account for billions of dollars in disbursements.”

Meanwhile Mnangagwa Jr. “has been in charge of the president’s business interests related to Tagwirei,” according to the Treasury.

The sanctions announcement came one day before Biden hosts nearly 50 heads of state from the African continent for the US-Africa Leaders summit.

President Mnangagwa is not planning to attend; instead, Zimbabwe’s Foreign Minister Frederick Shava will represent the country, according to a list of expected attendees.

Mnangagwa came to power in 2017 after generals forced long-time ruler Mugabe to resign.

In October the ruling ZANU-PF party handed 80-year-old Mnangagwa a five-year term as party leader during its annual congress, opening the door for him to run for reelection as president in 2023.

But his leadership remains criticized for corruption and rights violations, including a crackdown on dissent that saw two opposition lawmakers and 16 opposition supporters imprisoned from June to November.

The Libyan accused of making the bomb that destroyed a Pan Am flight over Scotland in 1988, killing 270 people, is to appear in a US court in Washington on Monday, Justice Department officials said.

Abu Agila Mohammad Masud, who allegedly worked as an intelligence agent for the regime of former Libyan dictator Moamer Kadhafi, was charged by the United States two years ago for the Lockerbie bombing, which killed 190 Americans. 

After arriving in the United States, Masud was taken to a facility in Alexandria, Virginia, for initial processing, where his mug shot was taken, the officials said.

He is to appear Monday afternoon in federal court in the nation’s capital for an initial hearing.

Scottish prosecutors announced on Sunday that Masud was in American hands, but provided no details on how he had been transferred to US custody.

Masud had been reportedly imprisoned in Libya for his alleged involvement in attacks on Libyan opposition figures in 2011.

Only one person has been convicted for the December 21, 1988 bombing of Pan Am Flight 103, which remains the deadliest terror attack ever on British soil.

The New York-bound aircraft was blown up 38 minutes after it took off from London, sending the main fuselage plunging to the ground in the town of Lockerbie and spreading debris over a vast area.

The bombing killed all 259 people on the jumbo jet and 11 people on the ground.

Two Libyans — Abdelbaset Ali Mohmet al-Megrahi, a former Libyan intelligence officer, and Al Amin Khalifa Fhimah — were charged with the bombing and put on trial in the Netherlands.

Megrahi spent seven years in a Scottish prison after his conviction in 2001 while Fhimah was acquitted.

Megrahi died in Libya in 2012, always maintaining his innocence.

His family lodged a bid for a posthumous appeal to clear his name in 2017, but Scotland’s High Court upheld his conviction in 2021.

– ‘Kadhafi thanked him’ –

Masud’s fate has been tied up in the warring factionalism of Libyan politics.

According to a September 2015 article in The New Yorker, Masud was sentenced that year to 10 years in prison in Libya after being accused of using remote-detonated bombs against Libyan opposition members in 2011.

The Lockerbie investigation was relaunched in 2016 when Washington learned of Masud’s arrest, following Kadhafi’s ouster and death in 2011, and his reported confession of involvement to the new Libyan regime in 2012.

According to an affidavit from an FBI agent involved in the probe, Masud worked as a “technical expert” for Libya’s External Security Organization (ESO), building explosive devices and earning the rank of colonel.

Masud confessed in a September 2012 interview with a Libyan law enforcement officer to assembling the bomb that brought down the Pan Am jet, the affidavit said.

“Masud confirmed that the bombing operation of Pan Am Flight 103 was ordered by Libyan intelligence leadership,” it said.

“Masud confirmed that after the operation, Kadhafi thanked him and other members of the team for their successful attack on the United States.”

According to the FBI agent’s affidavit, Masud also admitted to committing the April 1986 bombing of the LaBelle Discotheque in Berlin which killed two US service members and a Turkish woman.

Families of the Lockerbie victims thanked US and British law enforcement officials following the news of Masud’s arrest.

“Our loved ones will never be forgotten, and those who are responsible for their murder on December 21, 1988 must face justice,” they said in a statement.

Black comedy “The Banshees of Inisherin” topped the Golden Globes nominations Monday, as the tarnished Hollywood awards show tries to rebuild its reputation following last year’s boycott by A-listers and studios.

The movie about the abrupt end of a friendship on a tiny Irish island during the 1920s picked up a whopping eight nods — the most for any film in almost two decades — including nominations for star Colin Farrell and director Martin McDonagh.

Surreal sci-fi “Everything Everywhere All at Once” earned six nominations, while raucous Hollywood Golden Age drama “Babylon” and Steven Spielberg’s deeply personal “The Fabelmans” took five each.

The Hollywood Foreign Press Association, which organizes the Globes, has scrambled to reform itself since long-harbored criticisms of the group’s practices went public in early 2021.

Tinseltown completely distanced itself from the Globes last January over members’ lack of diversity, alleged corruption and lack of professionalism, and the show took place behind closed doors.

Broadcaster NBC has gambled that it is time to bring back the glitzy gala, albeit under a trial one-year contract, on January 10 in Beverly Hills. The entire industry is waiting to see which stars will show up. 

Brendan Fraser, who was nominated Monday for his starring role in “The Whale,” a drama about a morbidly obese man, has already said he will not attend the awards.

“It’s because of the history that I have with them. And my mother didn’t raise a hypocrite,” Fraser told GQ last month.

Fraser has alleged that a former HFPA president, Philip Berk, sexually assaulted him in 2003. Berk denies the incident, and has since left the group.

Tom Cruise, who was widely seen as a strong contender in the acting categories for “Top Gun: Maverick,” was overlooked by Globes voters Monday.

Cruise last year returned his three Golden Globes to the HFPA in protest at its behavior.

– Star power –

Nominations for the 80th Golden Globes were unveiled on NBC’s “Today” program Monday.

Along with Spielberg’s “The Fabelmans” and “Top Gun: Maverick,” other films nominated for best drama included Baz Luhrmann’s rock-and-roll biopic “Elvis,” and James Cameron’s eagerly awaited “Avatar” sci-fi sequel.

“Tar,” which stars Cate Blanchett as a ruthless classical conductor, took the final drama spot.

In the comedy or musical category “Banshees,” “Everything Everywhere” and “Babylon” were joined by whodunnit sequel “Glass Onion: A Knives Out Mystery” and Cannes festival Palme d’Or-winner “Triangle of Sadness.”

A-listers among the acting nominees included Daniel Craig (“Glass Onion”) Hugh Jackman (“The Son”) Angela Bassett (“Black Panther: Wakanda Forever”) and Olivia Colman (“Empire of Light.”)

While recognition from the HFPA has traditionally helped to kick-start Oscar campaigns and market films, the Globes’ importance this year is less certain due to the recent scandals.

Reactions on social media Monday were notably muted. Few nominees publicly commented, although official accounts for several films including “Black Panther” congratulated their stars.

The Globes drew flack for failing to nominate a single female movie director, or any best drama or best comedy films directed by women. 

Danielle Deadwyler’s powerful performance as the mother of 14-year-old lynching victim Emmett Till in “Till” was among the morning’s most controversial omissions.

But overall, Vanity Fair writers Katey Rich and David Canfield said Globes voters had “played it safe” this year, with few surprises.

On the television side, comedy “Abbott Elementary” led with five nominations, while Netflix’s British royals drama “The Crown” was among several shows earning four nods.

– ‘Not the old HFPA’ –

The HFPA has recently expanded its voting body to include people with more diverse backgrounds, banned members from accepting gifts, and halted its in-person press conferences with stars, which were often derided for the improper behavior of some members.

“This is really not the old HFPA anymore,” president Helen Hoehne recently told The Hollywood Reporter.

“I respect Brendan Fraser’s decision… And I personally, sincerely hope there’s a way for us to move forward and we are able to regain Mr Fraser’s trust, along with the trust of the entire entertainment community,” she added.

Still, powerful Hollywood publicists remain divided over the Globes, with some expressing skepticism about the reforms — and a reluctance to return to the event with their stars.

A plan by US billionaire Todd Boehly to spin off the awards show into a for-profit entity and pay salaries to members has raised eyebrows.

Wall Street pushed higher but European and Asian stock markets dropped Monday as investors looked ahead to interest rate decisions this week from major central banks including the Federal Reserve.

The dollar rose against its main rivals, while oil prices rebounded following sharp falls last week.

Analysts are forecasting the Fed and the European Central Bank to announce smaller rate hikes at their meetings this week compared with recent decisions.

The Bank of England is meanwhile on course for a ninth increase in a row as policymakers try to bring down inflation from the highest levels in decades.

“Following a softer session in Asia, European markets are on edge, opening the week lower ahead of a critical few days for central bank action,” noted Victoria Scholar, head of investment at Interactive Investor.

London, Frankfurt and Paris all closed lower. 

Wall Street pushed higher, however, as bargain hunters moved in following losses at the end of last week.

“The ECB, the Fed and the Bank of England are expected to raise rates by 50 basis points each as the pace of tightening looks set to slow,” Scholar added.

The half-point jumps will still be steep rises, however, as central banks struggle to cool the pace of price increases, particularly regarding energy and food.

Ahead of the Fed’s policy meeting, investors were set to digest US inflation data due Tuesday.

“It will be a fitting hump day on Wednesday, because the (inflation) data and the Fed decision are big humps the market needs to get over if it wants to make a run at a year-end rally,” said market analyst Patrick J. O’Hare at Briefing.com.

“If either, or both, disappoint in a meaningful way, then a year-end rally becomes a more challenging proposition,” he added.

Traders were keeping an eye also on developments in China as it moves away from the zero-Covid policy that has hammered its economy, the world’s second largest after the United States.

The shift comes after widespread protests against the near three-year strategy, though there is concern about the expected spike in infections.

Uncertainty surrounding the strength of China’s demand recovery has hit oil prices hard, with crude futures shedding more than 10 percent last week, but they rebounded on Monday.

“The gradual easing of Chinese Covid restrictions is… expected to lead to a further upswing in demand,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

But investors are wary of whether the relaxation of restrictions will lead to a swift rebound as Covid cases are expected to boom.

“The recent volatility in crude oil highlights the ongoing questions over whether the Chinese economy is truly ready to return or on the cusp of yet another series of restrictions,” said Joshua Mahony, senior market analyst at online trading platform IG.

– Key figures around 1630 GMT –

New York – Dow: UP 0.8 percent at 33,742.91 points

EURO STOXX 50: DOWN 0.5 percent at 3,921.82

London – FTSE 100: DOWN 0.4 percent at 7,445.97 (close) 

Frankfurt – DAX: DOWN 0.5 percent at 14,306.63 (close)

Paris – CAC 40: DOWN 0.4 percent at 6,650.55 (close)

Tokyo – Nikkei 225: DOWN 0.2 percent at 27,842.33 (close)

Hong Kong – Hang Seng Index: DOWN 2.2 percent at 19,463.63 (close)

Shanghai – Composite: DOWN 0.9 percent at 3,179.04 (close)

Euro/dollar: DOWN at $1.0531 from $1.0534 on Friday

Dollar/yen: UP at 137.50 yen from 136.57 yen

Pound/dollar: UP at $1.2260 from $1.2262

Euro/pound: DOWN at 85.87 pence from 85.90 pence

West Texas Intermediate: UP 3.8 percent at $73.73 per barrel

Brent North Sea crude: UP 2.7 percent at $78.17 per barrel

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US biopharmaceutical firm Amgen said Monday it has reached agreement to acquire Horizon Therapeutics, which specializes in medicine for rare and auto-immune diseases, for $27.8 billion.

The California-based company said it will pay cash to the tune of $116.50 a share in Horizon Therapeutics, a 20 percent premium over Horizon’s closing price Friday on Wall Street, in what would be the biggest deal of the year in the health sector.

The bid will be financed through a bank lending facility. 

Founded in 2005, Horizon Therapeutics develops and markets drugs for rare, auto-immune and inflammatory illnesses. It is best known for making Tepezza, which is used to treat thyroid eye disease, the symptoms of which include eye pain, redness and swelling.

Amgen said the deal would strengthen its drug portfolio, while positioning Horizon’s products through its global commercial and manufacturing network.

“The acquisition of Horizon is a compelling opportunity for Amgen and one that is consistent with our strategy of delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases,” Amgen CEO Robert Bradway said.

The deal is subject to approval by antitrust regulators in the United States, Austria and Germany, as well as the approval of the Irish High Court. If all goes well, the deal should  be concluded in the first half of 2023, Amgen said.

Shares of Horizon surged nearly 15 percent to $111.70 in mid-morning trading, while Amgen dropped 1.2 percent to $275.44.

Horizon is based in Ireland, but trades in New York.

Responding to an article in The Wall Street Journal, Horizon Therapeutics said last month it was in preliminary talks with Amgen, but also with Johnson & Johnson and French company Sanofi.

Sanofi said Sunday it ended discussions with Horizon after concluding the transaction prices “do not meet our value criteria.”

J&J also said in early December that it had dropped its pursuit of the deal.

– ‘Solid portfolio’ –

The transaction shows “Big Pharma will pay top dollar for a solid portfolio and pipeline in therapeutics for rare diseases,” where the competitive landscape is “generally much less crowded,” said Derren Nathan, head of equity research at Hargreaves Lansdown in Britain.

“With AstraZeneca’s acquisition of Alexion still fresh in the mind, the trend for consolidation is clear but the universe of large specialists in the space is dwindling, so further deals may be more bite-sized and opportunistic,” Nathan added.

Sales of Tepezza came in at $491 million in the third quarter and $1.7 billion for all of 2021, more than half of Horizon’s total revenues.

Other major Horizon products include Krystexxa, which treats chronic gout; Ravicti, which treats urea disorders; and Uplizna, which treats an autoimmune disease.

“In nearly 15 years, we have built one of the fastest-growing and most respected companies in the biotechnology industry from the ground up,” said Horizon Chief Executive Tim Walbert.

“Amgen is aligned with that commitment and passion and will continue to maximise the value of the current portfolio and pipeline and accelerate the ability to reach more patients globally.”

Amgen’s portfolio also includes an autoimmune treatment, Enbrel, but sales have fallen in recent quarters.

Pharma analysts note that Amgen’s revenue outlook has been clouded by upcoming patent expirations for key drugs such as Prolia, which treats osteoporosis, and Otezla, which treats psoriasis and psoriatic arthritis.

“Our focus is on long-term growth,” Bradway said of the patent outlook. “We’re not trying to solve for the short- or medium-term, but rather we’re trying to invest capital in order to generate long-term returns for our shareholders.”

“And we think this transaction is consistent with that objective.”