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TikTok: Is it really Chinese?
  + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
Is TikTok Chinese? In March 2023, CEO Chew was repeatedly pressed by US lawmakers on whether TikTok was Chinese. According to TikTok’s own website, its subsidiaries around the world are all structured under Bytedance Ltd.Is ByteDance Chinese? At last year’s congressional hearing, Chew didn’t directly answer any questions about whether ByteDance is a Chinese company either. That means the Chinese government now owns 1% of Beijing Douyin Information Service, which is the domestic Chinese unit of Bytedance.
Persons: TikTok, Shou Chew, Trump, Chew, Jose Luis Magana, Musical.ly, TikTok’s, ByteDance, Zhang Yiming, Liang Rubo, Zhang, Liang, Jinri, Chew didn’t, Shannon Stapleton, Zhang Fuping, Xi Jinping, Wu Shugang, Shu Yuting Organizations: Hong Kong CNN, TikTok LLC, TikTok Ltd, ByteDance Ltd, Bytedance Ltd, Tianjin’s Nankai University, ByteDance, Carlyle Group, General Atlantic, Susquehanna International Group, Reuters, Communist, Cyberspace Administration, Beijing Douyin Information Service, Chinese Communist Party, National Intelligence Law, Commerce Ministry Locations: China, Hong Kong, United States, Beijing, California, Los Angles, Singapore, Delaware, Culver City , California, Cayman Islands, Shanghai, Chinese, TikTok
Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.
Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas
If you open TikTok today, you might well be greeted with creators dancing to royalty-free music instead of your favorite tunes from artists like Taylor Swift or Bad Bunny. The move has resulted in a whole archive of "muted" TikTok videos, and even the UMG artists themselves aren't safe. Some TikTok creators are already responding to UMG's move by filming themselves dancing to songs in the public domain. I'm glad they are far in the past because I look awkward mouthing and dancing to no music," Romano said. "I would say 75% of my videos would contain UMG music," Romano said.
Persons: Taylor Swift, That's, Justin Bieber, Bieber, Kevin MacLeod, Kristen Wiig, Will Ferrell, Sophia Romano, Romano, UMG, Brian Gabriel, Gabriel, Nikalas Anderson, Anderson, Für Elise, Wendy Ly, Swift's Organizations: Universal Music Group, UMG, Globes, BI Locations: NYC, Los Angeles, Japan
Music licensing talks are heating up between TikTok and Universal Music Group as negotiations have left the conference room and entered the public sphere. "Their core mission is to generate as much money as they can from their recordings for their shareholders," David Herlihy, a copyright lawyer and music industry professor at Northeastern University, told BI. The company is in the process of launching a dedicated streaming app, TikTok Music, and has worked closely with artists on influencer listening parties, livestreams, and in-person events. But TikTok, as a global social giant, is an important product for music artists and labels. This is why the music industry is seeking to capture more value."
Persons: Taylor Swift, Ariana Grande, TikTok, It's, David Herlihy, David, Goliath, UMG, Tatiana Cirisano, Jonny Kaps, MIDiA's Cirisano Organizations: TikTok, Universal Music Group, Business, Hollywood, Warner Music Group, Sony Music Entertainment, Northeastern University, Music, MIDiA Research, YouTube, Universal, SiriusXM Locations: India, Australia
Political Cartoons View All 253 ImagesStill, country music has broken new ground. He says country music is now in a position where people who “maybe never gave us a chance” are listening to country music with an open-mindedness. Smyers has his own theories to why country music is experiencing this explosive period. “And I feel like country music kind of does the authenticity thing better than any other genre.”Up-and-comer Megan Moroney agrees. “I just kind of stay in my lane and do the best I can with supporting country music,” she told AP.
Persons: Morgan Wallen, Zach Bryan, Luke Combs, Roll, Harvey Mason, , Kacey Musgraves, Jason Aldean’s “, Wallen’s “, Combs, Tracy Chapman’s, Oliver Anthony’s, , Richmond ”, Wilson’s Deana Carter, Bailey, Wilson, Gabby Barrett, Carly Pearce, Ingrid Andress, Dan Smyers, Dan, Shay, Justin Bieber, I’ve, Smyers, Dustin Lynch, Darius Rucker, “ I've, Megan Moroney, there's, Reba McEntire, Blake Shelton, John Legend, Chance, Garth Brooks, Brooks, fiddles, ” Brooks, it’s Organizations: ANGELES, Recording Academy, Associated Press, North, Richmond, , AP, United, CBS, Paramount, Crypto.com Locations: , U.S, Luminate, United States, Philippines, Indonesia, India, Brazil, Mexico, Germany, Vietnam, Europe, America, Nashville, Los Angeles
Despite an overall slump in startup funding, 2023 saw a scramble among investors to pour money into AI and machine learning startups. And the company's star still appears to be rising, despite a messy leadership struggle that recently spilled into public view. Meanwhile OpenAI's perennial rival Anthropic attracted multi-billion dollar investments from both Google and Amazon to fund a competing AI model known as Claude. At the same time legacy companies from John Deere to accounting firm PwC played up their AI bona fides to capitalize on the hype. The list doesn't include startups who have not publicly released the amount of their funding rounds.
Persons: OpenAI, Anthropic, Claude, Databricks, John Deere, PwC, Fresh Organizations: Microsoft, Google, Alpha, Technology, Monogram, Sigma, Lambda, Helsing, Metals, Eagle Eye, Amelia, Asimov, Farmers Business, Harbinger, Prins, Silo, Mistral, Alto, AMP, Management Software, Universal, Coro, Kodiak Robotics, Aerospace, Defense, Sana, Corti, Kyte, Mitra, Tech, Boss Digital Technology, Halcyon, & $ Locations: PitchBook
NEW YORK (AP) — English-language editions of a Vietnamese novel set everywhere from Saigon to Paris and of the latest publication of poetry by Egypt's Iman Mersal are this year's winners of National Translation Awards. The awards were announced Sunday by the American Literary Translators Association. Thuân's novel “Chinatown,” translated from the Vietnamese by Nguyễn An Lý, won in the category for prose. The poetry prize was given to Mersal's “The Threshold,” translated from the Arabic by Robyn Creswell. “ALTA is incredibly proud to recognize Nguyễn An Lý and Robyn Creswell for their masterful translations from Vietnamese and Arabic respectively, in this the 25th year of the National Translation Award,” Elisabeth Jaquette, executive director of the translators association, said in a statement.
Persons: Egypt's Iman Mersal, Robyn Creswell, ” Elisabeth Jaquette, Peter Constantine's, Anton Chekhov, Martin, Karl Ove Knausgaard's “, Locations: Saigon, Paris, Norwegian
CNN —Former fashion mogul Peter Nygard was found guilty of four counts of sexual assault in a Toronto court on Sunday, following a six-week trial. The accusers were then “forcibly sexually assaulted, drugged, and/or coerced into sexual contact with Nygard,” according to the US indictment. Nygard consented to be extradited to the United States in 2021 but in 2023 he appealed against extradition, according to court documents reviewed by CBC. Nygard served as chairman of Winnipeg-based women’s clothing company Nygard International, which he founded in 1967. In March 2020, Nygard International filed for bankruptcy protection in Canada and the United States after the sex trafficking allegations.
Persons: Peter Nygard, Nygard, , Ken Frydman, CNN’s Sheena Jones, Madeline Holcombe, Laura Ly, Sonia Moghe, Ray Sanchez Organizations: CNN, of, Prosecutors, CBC, Nygard International, Nygard Locations: Toronto, United States, Southern, of New York, Winnipeg, Canada
CNN —Ivanka Trump on Friday withdrew her appeal of a judge’s order requiring her to testify at her father’s civil fraud trial next week after an appellate court refused to pause her testimony. Ivanka Trump’s testimony comes after she was previously dismissed as a co-defendant in the New York case against former President Donald Trump, two of his adult sons and his company. On Thursday night, an appeals court denied Ivanka Trump’s request to postpone her testimony until her lawyers could make arguments before the panel that she shouldn’t be required to appear. Ivanka Trump’s brothers, Donald Trump Jr. and Eric Trump, appeared in court this week. The civil trial began in October, soon after Engoron found in September that Trump and his co-defendants were liable for “persistent and repeated” fraud.
Persons: CNN — Ivanka Trump, Ivanka, Donald Trump, Arthur Engoron, Ivanka Trump’s, Donald Trump Jr, Eric Trump, Engoron, Trump, Ivanka Trump, Letitia James ’, Jeremy Herb, Laura Ly, Lauren del Valle Organizations: CNN, Friday, New, Trump Organization, New York Locations: New York, Florida, York, New
Matthew Perry, the beloved actor who starred as Chandler Bing on “Friends,” has died. “We are devastated by the passing of our dear friend Matthew Perry. Matthew Perry at the 2022 GQ Men Of The Year Party on November 17, 2022 in West Hollywood, California. (l-r) Matt LeBlanc, Lisa Kudrow, David Schwimmer, Matthew Perry (second row) Courteney Cox and Jennifer Aniston. Reisig & Taylor/NBCU Photo Bank/Getty ImagesOn “Friends,” Perry starred alongside Courteney Cox, Matt LeBlanc, David Schwimmer, Jennifer Aniston and Lisa Kudrow in the comedy about a tight knit group of friends living in New York City.
Persons: Matthew Perry, Chandler Bing, , Perry, Matthew, Warner, Brian Humphrey, Humphrey, Gregg DeGuire, Perry’s, Robert ”, “ Charles, Tracey Ullman, Jimmy Reardon, , Chandler, Joe Quincy, Matt LeBlanc, Lisa Kudrow, David Schwimmer, Courteney Cox, Jennifer Aniston, Reisig, ” Perry, Doctors, , haven’t, ’ ”, ” Matthew Perry, Mark J, Terrill, Molly Hurwitz, Molly, Matthew Perry’s, ” Maggie Wheeler, Chandler’s, Janice, Mathew Perry, ” Selma Blair, Matty, ” Michael Rapaport, Gary, Yvette Nicole Brown, Perry “ Organizations: Police, CNN, Los Angeles Times, Warner Bros . Television Group, ” Los Angeles Fire Department, Party, Getty, Warner Bros . Television, Warner Bros ., NBCU, Bank, Perry’s, , CBC Locations: Los Angeles, West Hollywood , California, Williamstown , Massachusetts, Ottawa, Canada, Beverly Hills, New York City, Pasadena , California, American
Just last week, he was giving “pointers” to some of our very seasoned directors, who in turn complained to me. So I have to ask, is there a professional way to tell someone they are too arrogant about their role within a company? I’m all for collaborative work environments, mentoring younger colleagues, and encouraging people to pursue their ambitions for advancement. This new policy feels like they don’t trust us, and it seems overkill to have to check in daily. Corporations often create busywork for one reason or another, and maybe they don’t trust you, but why do you care?
Persons: I’m, who’s, , that’s Locations: Lane
NEW YORK (AP) — Fiction originally written in Vietnamese, Polish and French and poetry in German and Arabic are among this year's finalists for National Translation Awards. On Wednesday, the American Literary Translators Association announced lists of six finalists in prose and poetry, with winning translators in each category receiving $4,000. In prose, nominees include Thuân's novel “Chinatown,” translated from Vietnamese by Nguyễn An Lý; Mikołaj Grynberg's “I’d Like to Say Sorry, But There’s No One to Say Sorry To,” translated from Polish by Sean Gasper Bye; and Monique Ilboudo's “So Distant from My Life,” translated from French by Yarri Kamara. The other prose finalists are László Krasznahorkai's “Spadework for a Palace," translated from Hungarian by John Batki; B. Jeyamohan's “Stories of the True,” translated from Tamil by Priyamvada Ramkumar; and Sheela Tomy's debut novel “Valli," translated from Malayalam by Jayasree Kalathil. Political Cartoons View All 1206 Images
Persons: Sean Gasper, Monique Ilboudo's “, Yarri Kamara, John Batki, Priyamvada Ramkumar, Sheela Tomy's, “ Valli, Jayasree Kalathil, Nelly Sachs, , Joshua Weiner, Linda B, Parshall, Phoebe Giannisi's “, Brian Sneeden, Wong, Iman Mersal's “, Robyn Creswell, Venus Khoury, Ghata's, Marilyn Hacker, Ananda Devi's “, Kazim Ali Organizations: Translators Locations: Tamil
That was a decrease of $3.8 billion from the previous week. India's forex reserves are "sizeable" and "very comfortable," RBI Governor Shaktikanta Das said on Friday, while reiterating that the central bank's intervention aims to prevent any volatility of the rupee's exchange rate. Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund. For the week the forex reserves data pertains, the rupee had fallen 0.1% against the dollar and traded in a range of 83.0225 and 83.2450. FOREIGN EXCHANGE RESERVES (in million U.S. dollars)Source text: (https://bit.ly/3PD1mzC)Reporting by Siddhi Nayak; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.
Persons: Shaktikanta Das, Siddhi Nayak, Eileen Soreng Organizations: Reserve Bank of India, International Monetary Fund, Siddhi, Thomson Locations: MUMBAI
India's forex reserves fall to 4-month low
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: +1 min
MUMBAI, Sept 29 (Reuters) - India's foreign exchange reserves (INFXR=ECI) fell for a third straight week and were at a four-month low of $590.70 billion as of Sept. 22, data from the Reserve Bank of India (RBI) showed on Friday. Reserves had fallen by a total of $5.9 billion in the prior two weeks. Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund. For the week the forex reserves data pertains, the rupee had risen 0.2% against the dollar and traded in a range of 82.8225 and 83.2725. FOREIGN EXCHANGE RESERVES (in million U.S. dollars)Source text: (https://bit.ly/3PVt2Rv)Reporting by Siddhi Nayak; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.
Persons: Siddhi Nayak, Eileen Soreng Organizations: Reserve Bank of India, International Monetary Fund, Siddhi, Thomson Locations: MUMBAI
History shows this pullback in Apple may have further to go
  + stars: | 2023-09-29 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +2 min
Magnificent Seven member Apple has seen its stock come under pressure in recent weeks. Apple shares are down 14% after peaking in mid-July. While the company officially released the iPhone 15 line on Sept. 15 to lead times near all-time records, Morgan Stanley noted that investor sentiment remains "overwhelming[ly] bearish on Apple." "Over the past 5 years, there have been 7 times where Apple shares have fallen 15%+. Within three months after the stock trough, Apple has managed to outperform the broad market index by 10 to 15 percentage points on average, the analyst noted.
Persons: Morgan Stanley, Apple, Erik Woodring, Woodring, , Michael Bloom Organizations: Apple, Huawei Locations: China, Asia
Sept 21 (Reuters) - Indian chemicals maker Epigral (EPIG.NS) will keep diversifying its business and expects the share of revenue from new products to expand significantly this year, its chairman and managing director told Reuters on Thursday. At that time, we were catering to seven industries," Maulik Patel told the Reuters Trading India forum. The specialty chemicals market represents 22% of India's overall chemicals and petrochemicals market and is valued at $32 billion, according to KPMG. It exports its products to more than 20 countries including South Africa and the United States. (Join Trading India, a chat room hosted on Refinitiv Messenger: https://bit.ly/3TNDwkC)($1 = 83.0434 Indian rupees)Reporting by Savio Shetty; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
Persons: Maulik Patel, Patel, Epigral, Savio Shetty, Sonia Cheema Organizations: Reuters, Reuters Trading, KPMG, Thomson Locations: Gujarat, Reuters Trading India, India, Ahmedabad, South Africa, United States
TORONTO (AP) — Three generations of a Ukrainian family sit in a van in the documentary “In the Rearview.” They stare straightforward, staggered by all they’ve left behind. “I come from an aristocratic family,” one woman says in the film. The biggest battleground isn’t just a war zone but the home. In recent years, Canada has reckoned with its past treatment of Indigenous people, including heinous sterilization programs and forced-schooling systems. “Coming to New Zealand, being Māori, we don’t see enough of ourselves on screen,” Waititi said.
Persons: , , Maciek Hamela’s van, Um Tae, Lee Byung, Ly’s, ” Ly, Oscar, Les, Alexis Manenti, Cameron Bailey, Waititi, ” Waititi, ” Hollywood’s, ” Andrew Haigh’s “, , Cord, Jeffrey Wright, Hayao, Miyazaki, Alexander Payne’s “, Paul Giamatti, Da’Vine Joy Randolph, Dominic Sessa —, Agnieszka Holland’s “, Raoul Peck’s “, James Baldwin, , Melvin, Peck, William Tecumseh Sherman, Garrison Frazier, Jonathan Glazer, Rudolf Höss, Christian Friedel, Hedwig, Sandra Hüller, Glazer, Nikolaj Arcel’s “, Mads Mikkelsen, Jonathan Demme’s, David Byrne, Jake Coyle Organizations: TORONTO, Toronto, America Samoa soccer team, , Twitter Locations: Ukraine, Seoul, South Korea, Paris, Batiment, France, Canada, America, New Zealand, ” Toronto, Venice, New England, Belarus, Poland, Haitian, North Carolina, Georgia, Auschwitz, Denmark, Jutland Heath
Canada’s Prime Minister Justin Trudeau did not post on social media platform X saying that his government was passing a “Digital Existence Act” due to the spread of a new coronavirus variant. That's why we're passing the “Digital Existence Act.”” (archive.ph/v621t)Confused users responded in the comments section saying: “Please explain how digital currency stops a virus,” and: “Is this real? Did he really tweet this.”The post is not visible on Trudeau’s official X account and there is no evidence that the alleged “Digital Existence Act” is real. The claim originates from the handle @Trudeaus_Ego, which describes its content as: “The egotistical thoughts of Prime Minister Trudeau” in its bio (twitter.com/Trudeaus_Ego). A screenshot shared online shows a parody post from an account impersonating Canadian Prime Minister Justin Trudeau announcing a “Digital Existence Act” due to a new variant of coronavirus.
Persons: Justin Trudeau, Trudeau, , Alison Murphy, Trudeau ”, Read Organizations: Canada’s, Twitter, Reuters, Omicron, Canadian Locations: Canada, Ottawa
A Federal Emergency Management Agency (FEMA) administrator mentioned by Joe Biden in a video was in Hawaii ahead of deadly wildfires on Aug. 8 to attend an annual agency conference, a FEMA official told Reuters. “Due to the fires on Maui, participants from FEMA, the Hawaii delegation and many other federal agencies left the meeting early to address statewide response efforts,” Edwards said. Fenton is currently the Regional Administrator for FEMA Region 9, which includes the Hawaiian Islands (here), (here). In the clip of Biden’s Aug. 30 remarks, the president refers to his appointment of Fenton to lead the Maui response and rebuilding efforts. FEMA administrator Bob Fenton’s presence in Hawaii before the 2023 wildfires is not evidence that the disaster was planned.
Persons: Joe Biden, Biden, Bob Fenton “, Jeremy M, Edwards, Fenton, ” Edwards, Lemanu P.S, , Bob Fenton, ” Fenton, Bob Fenton’s, Read Organizations: Emergency Management Agency, FEMA, Reuters, Social, Facebook, Biden, Partnership, Regional, White, Guam Homeland Security, Civil Defense Locations: Hawaii, Honolulu, Oahu, , Maui, American Samoa, United States, Guam
A video of models walking through mud was not taken during the 2023 Burning Man festival, contrary to posts on social media, but during Paris Fashion Week in October 2022. One user shared the clip on social media platform X, formerly known as Twitter, with the text: “I'm currently stranded at Burning Man, along with thousands of others. The video was actually taken during Paris Fashion Week in October 2022. Thousands attending the 2023 Burning Man festival were stranded in the Nevada Desert after unexpected summer rain turned the site into mud, temporarily closing access to and from Black Rock City (here), (here). The video was not taken during the 2023 Burning Man festival.
Persons: “ I'm, I'm, Read Organizations: Paris, Black Rock, Reuters Locations: Nevada
A screenshot of an article on CNN’s homepage titled “Burning Man attendees unable to leave desert, resort to cannibalism” is fabricated, a spokesperson for the outlet said. “Burning Man festival turns into Cannibalism festival? #CNN #burningman,” reads a post sharing a collage featuring the fabricated CNN headline on Facebook (bit.ly/44ORGHT). “This image is fabricated and not something that appeared on the CNN.com homepage,” Emily Kuhn, a CNN spokesperson, said in an email to Reuters. CNN did not report on cannibalism at the 2023 Burning Man festival.
Persons: ” Emily Kuhn, revelers, Read Organizations: CNN, Facebook, CNN.com, Reuters
A screenshot showing an X social media post from Burning Man’s official account addressing “reports of Ebola and widespread cannibalism” at the Nevada desert festival is fake, a spokesperson for the event said. The viral screenshot shared on Facebook (bit.ly/3Zu6Bq1) and (bit.ly/45Mr0c5) purports to show a post on X, formerly known as Twitter, from @BurningMan that reads: “Reports of Ebola and widespread cannibalism are circulating the internet. Please be aware, there is NO CANNIBALISM HAPPENING AT BURNING MAN.”The alleged post is not visible on the X account (bit.ly/4881q2F) listed on Burning Man’s official website (bit.ly/3ZbIHPO), nor in the archives (here). Unexpected summer rain turned Burning Man 2023 - a weeklong, annual arts festival - into a muddy affair that stranded participants at the site for days, Reuters reported on Sept. 4 (here). A Burning Man post on X about “reports of Ebola and widespread cannibalism” is fake, according to a spokesperson for the event.
Persons: Dominique Debucquoy, Dodley, Read Organizations: Facebook, Burning, Reuters Locations: Nevada, Black Rock
The World Economic Forum (WEF) did not sign an order canceling U.S. elections nor does it have the power to do so, contrary to social media posts citing an opinion article by a WEF contributor discussing the idea of average citizens being elected instead of politicians. The article does not discuss handing elections over to elites, however, but instead the possible outcomes of randomly selected leaders and choosing average citizens to lead instead of politicians using a sort of lottery system. Regardless, the op-ed does not reflect WEF policy, as the People’s Voice article says. The People’s Voice did not immediately respond to Reuters request for comment. The World Economic Forum did not sign an order to cancel U.S. elections.
Persons: , Klaus Schwab, Adam Grant, Grant, , ” Grant, ” Yann Zopf, Read Organizations: Economic, People’s, , , Reuters Locations: Davos, Switzerland
It is recommended that all Burning Man attendees remain in their dwellings until further notice. Facebook users sharing the screenshot wrote, “CDC put out Ebola Warning about Burning Man Festival... government soon pulled it. Another cover-up is going on,” (here) and “Never been a fan of BURNING MAN (too dirty and dusty & unsanitary for me) but WTF?? The link in the purported CDC post (bit.ly/NjMklRjjH) redirects to an article by The Independent addressing conspiracy theories around the Burning Man festival (here). The CDC did not publish a post on an Ebola outbreak at Burning Man 2023.
Persons: , Read Organizations: U.S . Centers for Disease Control, Prevention, Black Rock City, “ CDC, CDC, Reuters, Independent, Rock Locations: Nevada, NV, West Africa, Rock City , Nevada
Sept 7 (Reuters) - Insulet Corp's (PODD.O) shares hit an over three-year low on Thursday on concerns that strong demand for a new class of diabetes drugs that also aid in weight loss could hit sales of its insulin pumps. CEO James Hollingshead said at the Wells Fargo Healthcare Conference that GLP-1 drugs, which are used to treat type-2 diabetes and obesity, could delay the onset of insulin dependency in diabetes patients. GLP-1s are highly effective weight-loss drugs that some analysts predict could become a $100 billion market by 2030. Shares of Massachusetts-based Insulet fell about 12% to $170.87 and were on track to wipe off about $1.6 billion from the company's market capitalization if losses hold. Insulet manufactures and sells insulin delivery devices, which eliminate the need for multiple daily injections for people with insulin-dependent diabetes.
Persons: James Hollingshead, Novo, Trang Ly, Bhanvi, Anil D'Silva Organizations: Wells, Healthcare Conference, New England, of Medicine, Massachusetts, Thomson Locations: Bengaluru
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