Communications satellite

Nasa to overhaul mission returning samples from Mars – here’s why it must and will go ahead

Retrieved on: 
Tuesday, April 23, 2024

This has led to some anxiety among space scientists, who view the Mars Sample Return (MSR) mission as a cornerstone of plans to explore the Solar System.

Key Points: 
  • This has led to some anxiety among space scientists, who view the Mars Sample Return (MSR) mission as a cornerstone of plans to explore the Solar System.
  • But when you consider what’s at stake, scientifically and politically, it seems highly likely that Nasa will push ahead with the mission to make it a success.
  • One key conclusion of the Nasa review is that MSR was established with unrealistic budget and schedules.
  • Esa is also unlikely to want to lose the scientific investment it has already made in MSR.

Huge scientific importance


So why does the space science community regard MSR as so important? Partly because the technologies are a stepping stone to future human exploration. For instance, the mission needs an ascent vehicle to launch the samples into orbit for capture by another spacecraft.

  • That capture in Mars orbit of a football-sized return capsule is one of the key technical challenges of MSR.
  • Esa is taking a major part in this and leads the return orbiter development.
  • This stage will deploy the very best equipment that we scientists have in laboratories across the world.
  • But these financial savings come with a scientific cost.

Chinese rivalry

  • The Apollo programme was given impetus by cold war rivalry with the Soviet Union.
  • The Chinese Space Agency wants to launch in 2028, with separate lander and ascent vehicle launches.
  • In 2020, I argued that an era of new Chinese collaboration with the west could be possible.


John Bridges receives funding from the UK Space Agency for NASA-ESA Mars Sample Return planning groups tasked with identifying the best techniques to analyse returned samples, and the closest terrestrial analogues for these samples.

Decomposing systemic risk: the roles of contagion and common exposures

Retrieved on: 
Tuesday, April 23, 2024
Tao, CIBC, Tax, RWA, Risk, European Systemic Risk Board, Research Papers in Economics, Contagion, RT, The Big Six, NBC, International, Shock, Observation, Bank of Canada, HTC, European Economic Association, The Washington Post, Great, JPMorgan Chase, Paper, GM, Environment, Political economy, Journal of Financial Economics, COVID-19, Perception, BNS, Website, Silicon, IAT, Cifuentes, Probability, Balance sheet, RAN, Medical classification, Algorithm, Information technology, Quarterly Journal of Economics, LN, Nature, European Journal, Royal Bank of Canada, Technical report, Journal of Political Economy, Equitable Bank, Bankruptcy, RAI, PDF, Private, ECB, Policy, CHS, Supercapacitor, Social science, Journal of Financial Stability, Intelligence (journal), Elsevier, Home, Cambridge University Press, Journal, Springer Science+Business Media, Research, Classification, Regulation, News, EQB, Credit, Literature, AIK, European Central Bank, COVID, SVAR, Section 5, Management science, DRA, M4, VL, National bank, Government, ISSN, BMO, Panel, International Financial Reporting Standards, BIS, FIS, Basel III, Commerce, Scotiabank, C32, Econometric Society, Interbank, Fraud, Section 4, Bank, Schedule, VAR, Section 3, The Journal of Finance, RBC, Volcanic explosivity index, Fire, Wassily Leontief, Financial economics, Metric, Section 2, L14, Central bank, Superintendent, Bank of Montreal, Kronecker, BOC, Lithium, BCBS, Sale, Macroeconomic Dynamics, Christophe, CWB, LBC, NHA, Imperial Bank, Private equity, Quarterly Journal, National Bank of Canada, C51, Canadian Western Bank, Currency crisis, JEL classification codes, Victor Drai, L.1, MFC, Silicon Valley Bank, EB, Laurentian Bank of Canada, Federal, RA1, Series, W0, FEVD, Journal of Econometrics, Aggregate, University, FRB, MB, Financial institution, Element, Health, Book, Angels & Airwaves, Common, OSFI, GFC, Reproduction, K L, Systematic, Housing, G21, Home Capital Group, Communications satellite

Abstract

Key Points: 
    • Abstract
      We evaluate the effects of contagion and common exposure on banks? capital through
      a regression design inspired by the structural VAR literature and derived from the balance
      sheet identity.
    • Contagion can occur through direct exposures, fire sales, and market-based
      sentiment, while common exposures result from portfolio overlaps.
    • First, we document that contagion varies in time, with the highest levels
      around the Great Financial Crisis and lowest levels during the pandemic.
    • Our new framework complements
      traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
    • While existing literature presents various contagion narratives, empirical findings on
      distress propagation - a precursor to defaults - remain scarce.
    • We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
    • The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
      aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
    • Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
    • In conclusion, our model offers a comprehensive lens for policy intervention analysis and
      scenario evaluations on contagion and systemic risk in banking.
    • This
      notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
      to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
      more widespread throughout the financial system) (see Caruana, 2010).
    • In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
    • First, we include contagion in three forms: sentiment-based contagion, contractual-based
      contagion, and price-mediated contagion.
    • In this context,
      portfolio overlaps create common exposures, implying that bigger overlaps make systematic
      shocks more systemic.
    • With the COVID-19 pandemic starting
      in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
      supports.
    • That is, our
      structural model provides a framework for analyzing the impact of policy interventions and
      scenarios on different levels of contagion and systemic risk in the banking system.
    • This provides a complementary approach to
      seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
    • More generally, the literature on networks and systemic risk started with Allen and Gale
      (2001) and Eisenberg and Noe (2001).
    • The matrix is structured as follows:
      1

      In our model, we do not distinguish between interbank liabilities and other types of liabilities.

    • In other words, we can and aim to estimate different degrees
      of contagion per asset class, i.e., potentially distinct parameters ?Ga .
    • For that, we build three major
      metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
    • N i j

      et ,
      Further, we define the (N ?K) common exposure matrix as Commt = [A

      (20)

      et ]diag (?C
      ?L

      such that average common exposure reads,
      average common exposure =

      1 XX
      Commik,t .

    • N i j

      (22)

      20

      ? c ),

      The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.

    • Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
    • Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
      (Equation (22)).
    • The market-based contagion is the contagion due to
      investors? sentiment, and the network is an estimate FEVD on volatility data.
    • For most of
      the sample, we find that contagion had a bigger impact on the variance than common exposures.

Monetary asmmetries without (and with) price stickiness

Retrieved on: 
Friday, April 19, 2024
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Key Points: 

    EQS-News: OHB prime contractor for development and assembly of the LEO-PNT navigation demonstration satellites

    Retrieved on: 
    Wednesday, April 10, 2024

    The contract between the client ESA (European Space Agency) and GMV was signed this week in Paris.

    Key Points: 
    • The contract between the client ESA (European Space Agency) and GMV was signed this week in Paris.
    • OHB is working on this mission as a subcontractor to GMV: OHB’s share of the total contract is valued at around EUR 38 million.
    • OHB is contributing to the LEO-PNT programme the expertise that it gained from the European Galileo navigation satellite programme, for whose 34 FOC (Full Operational Capability) satellites it is the prime contractor.
    • LEO-PNT is an in-orbit demonstration mission, as various parameters are to be tested during this mission.

    Verizon Business provides NASA with a network solution to allow for a live broadcast of solar eclipse

    Retrieved on: 
    Friday, April 5, 2024

    WASHINGTON, April 05, 2024 (GLOBE NEWSWIRE) -- Verizon Business has partnered with NASA to provide a network solution that will allow for a live broadcast of the solar eclipse on April 8.

    Key Points: 
    • WASHINGTON, April 05, 2024 (GLOBE NEWSWIRE) -- Verizon Business has partnered with NASA to provide a network solution that will allow for a live broadcast of the solar eclipse on April 8.
    • Verizon Business, with essential support from Leidos, provisioned 1GB E-Line service from the Great Lakes Science Center in Cleveland to the John Glenn Space Center.
    • This provisioning effort was accomplished in fewer than 30 days, which is key, as it has enabled NASA to thoroughly test video and broadcast applications in advance of the eclipse.
    • Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023.

    ProMIS Neurosciences to Present in Upcoming Investor Conferences in April 

    Retrieved on: 
    Thursday, April 4, 2024

    ET.

    Key Points: 
    • ET.
    • Neil Warma, Chief Executive Officer, will present a corporate overview on Thursday, April 11, 2024 at 2:15 p.m.
    • Neil Warma, Chief Executive Officer, will present a corporate overview on Wednesday, April 17, 2024 at 10:30 a.m.
    • A live webcast of the presentations may be accessed by visiting the Events page of the Company’s website at www.promisneurosciences.com , and will be available for at least 30 days following the event.

    Kratos Demonstrates Fully Virtualized SATCOM Over LEO for U.S. Army

    Retrieved on: 
    Thursday, April 4, 2024

    With demonstration partners Telesat Government Solutions and Cobham Satcom, the three companies showed dynamic support of simultaneous communication pathways for resilient SATCOM at Low Earth Orbit (LEO).

    Key Points: 
    • With demonstration partners Telesat Government Solutions and Cobham Satcom, the three companies showed dynamic support of simultaneous communication pathways for resilient SATCOM at Low Earth Orbit (LEO).
    • LEO constellations are strategic to military operations, delivering connectivity with lower latency than a traditional Geosynchronous Earth Orbit (GEO) satellite.
    • Kratos’ OpenSpace Platform is the industry’s only commercially available, fully software-defined satellite ground system.
    • The demonstration showed a flexible network architecture that allowed soldiers to connect Telesat’s LEO 3 satellite through Cobham antennas.

    Intuitive Machines-led Moon RACER Team Awarded NASA Lunar Terrain Vehicle Contract to Support the Agency’s Artemis Campaign

    Retrieved on: 
    Wednesday, April 3, 2024

    HOUSTON, April 03, 2024 (GLOBE NEWSWIRE) -- NASA has awarded Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”) $30 million as a prime contractor to complete a Lunar Terrain Vehicle Services Feasibility Assessment.

    Key Points: 
    • HOUSTON, April 03, 2024 (GLOBE NEWSWIRE) -- NASA has awarded Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”) $30 million as a prime contractor to complete a Lunar Terrain Vehicle Services Feasibility Assessment.
    • The contract tasks the Company’s global team with creating a feasibility roadmap to develop and deploy a Lunar Terrain Vehicle (“LTV”) on the Moon using Intuitive Machines’ Nova-D cargo-class lunar lander.
    • The Company believes the Moon RACER team is the most comprehensively equipped choice for delivering and deploying a lunar terrain vehicle that meets NASA requirements.
    • The Lunar Terrain Vehicle Services vehicle is a major element in returning humans to the lunar surface under NASA’s Artemis campaign and demonstrating continued American leadership in space exploration.

    Travere Therapeutics to Present Abstracts on FILSPARI® (sparsentan) in IgA Nephropathy at World Congress of Nephrology and the American Nephrology Nurses Association

    Retrieved on: 
    Wednesday, April 3, 2024

    SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc., (Nasdaq: TVTX) today announced that the Company will present nine abstracts in rare kidney disease at the World Congress of Nephrology (WCN) in Buenos Aires, Argentina, on April 13-16, 2024, and the American Nephrology Nurses Association (ANNA) National Symposium in Orlando, Florida, on April 14-17, 2024.

    Key Points: 
    • SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc., (Nasdaq: TVTX) today announced that the Company will present nine abstracts in rare kidney disease at the World Congress of Nephrology (WCN) in Buenos Aires, Argentina, on April 13-16, 2024, and the American Nephrology Nurses Association (ANNA) National Symposium in Orlando, Florida, on April 14-17, 2024.
    • At WCN, the Company will present subgroup analyses of the Phase 3 PROTECT Study of FILSPARI® (sparsentan) in IgA nephropathy (IgAN) showing the treatment effect across participants with different levels of baseline proteinuria.
    • At ANNA, the Company will present additional insights from the HONUS trial, including health-related quality of life (HRQoL) data and the humanistic burden experienced by patients with IgAN and focal segmental glomerulosclerosis (FSGS).
    • “The data we are presenting at WCN and ANNA reinforce the wealth of evidence supporting FILSPARI’s profile to become an effective foundational treatment replacing RAAS inhibition, with the potential to reduce the lifetime risk of kidney failure for patients with IgAN,” said Jula Inrig, M.D., chief medical officer of Travere Therapeutics.

    Local News Live and Gray Stations to Stream Continuous Live Eclipse Coverage

    Retrieved on: 
    Wednesday, April 3, 2024

    ATLANTA, April 03, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that Local News Live, a streaming news network that provides live news coverage from Gray’s 114 television markets and Washington DC Bureau, and Gray stations will stream continuous live coverage of the total solar eclipse on April 8th.

    Key Points: 
    • ATLANTA, April 03, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that Local News Live, a streaming news network that provides live news coverage from Gray’s 114 television markets and Washington DC Bureau, and Gray stations will stream continuous live coverage of the total solar eclipse on April 8th.
    • Gray stations in the path of totality will also provide complete local coverage to their communities on every screen.
    • Local News Live anchors Debra Alfarone and Rasheeda Kabba will anchor wall-to-wall coverage from Gray’s Washington DC Bureau.
    • In addition to the live coverage, Local News Live produced a half-hour special The Great American Eclipse airing on all Gray affiliates to preview the momentous event.