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☆ How Trump managed to lose $1 billion in net worth in a single day
▼ + stars: | 2024-04-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

That’s kinda what happened for investors in Trump Media & Technology Group, the troubled owner of Truth Social, on Monday. Even with Monday’s stumble, the stock is still up about 200% over the past six months, giving it a $6.6 billion valuation that defies logic. Trump Media, aka TMTG, generated just $4.1 million in revenue last year. But if history repeats, or even echoes, with Trump Media, investors may want to buckle up. Bottom line: Monday’s slump is hardly game over for Trump and his social media company.

Persons: CNN Business ’, Wile, Coyote, Monday’s, Matt Egan, It’s, ” Axios, Dan Primack, “, Donald Trump, David, dusts Organizations: CNN Business, New York CNN, Trump Media & Technology Group, Truth, Trump Media, GameStop, Trump Locations: New York, selloff

☆ Lancia to reveal new Ypsilon small car in February in European comeback plan
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

An employee dusts of a Lancia Ypsilon 30th anniversary edition during the first press day ahead of the 85th International Motor Show in Geneva March 3, 2015. The new Ypsilon will initially be presented as a fully-electric, limited edition version of 1,906 units, Lancia said in a newsletter. The car will go on sale in Italy before summer next year and will also be available in a mild-hybrid version. The new Ypsilon will be built in Zaragoza, Spain, on the same platform as several other Stellantis models, including the Jeep Avenger, Fiat 600, Peugeot's 208 and 2008 and Opel's Mokka and Corsa. Reporting by Giulio Piovaccari; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Lancia, Opel's, Giulio Piovaccari, Kirsten Donovan Organizations: Lancia, REUTERS, Jeep, Fiat, Thomson Locations: Geneva, Italy, Stellantis, Zaragoza, Spain

☆ EU’s best way to close its US growth gap: growth
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Oct 26 (Reuters Breakingviews) - The European Union would have a better chance of catching the U.S. if it aimed for growth, instead of rearranging the regulatory deck chairs. Lowering political barriers in the 27-country single market could boost investment without breaking the bank on subsidies, Jean-François van Boxmeer told Breakingviews, citing a new European Round Table for Industry report. In the telecommunications sector, the European Commission has kept four providers in most of the EU’s markets, and screens out Chinese equipment-makers over security concerns. The European Commission reckons completing the single market by 2030 would hike EU GDP by 12%, or 713 billion euros. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: François van Boxmeer, Breakingviews, van Boxmeer, Jacob Wallenberg, Rebecca Christie, George Hay, Streisand Neto Organizations: Reuters, European, Vodafone, Reuters Graphics Business, EU, European Commission, Investor, X, News Corp, Thomson Locations: BRUSSELS

☆ Roche's $7 bln deal is pricey and partial cure
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Roche tablets are seen positioned in front of a displayed Roche logo in this photo illustration shot January 22, 2016. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Oct 23 (Reuters Breakingviews) - Roche (ROG.S) has taken a small step towards curing its drug pipeline problem. JPMorgan analysts estimate that the drug’s U.S. sales could peak at 2.4 billion Swiss francs ($2.7 billion), but will take until 2037 to get there, assuming a 2028 launch. Analysts expect Roche’s pharmaceutical division to generate revenue of almost 45 billion Swiss francs this year, according to estimates compiled by LSEG. With expected free cash flow of around 16 billion Swiss francs this year and next, Roche can afford to buy a little more diversification.

Persons: Roche, Dado Ruvic, Thomas Schinecker, Peter Thal Larsen, Jean, Pierre Mustier, Atos, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Pfizer, U.S, New, JPMorgan, Merck, Prometheus Biosciences, Analysts, LSEG, X, News Corp, Thomson Locations: Swiss, U.S

☆ Merck’s cancer rush may spawn lower returns
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

The American drug company said on Thursday it signed a giant deal with Daiichi Sankyo (4568.T) for the rights to sell three potential drugs outside Japan. Merck will pay $4 billion upfront, up to another $1.5 billion over the next two years, and as much as $16.5 billion if the drugs pass certain sales milestones. Merck’s Keytruda accounts for about 40% of the company’s revenue, and that cancer drug might face cut-price competition before the end of the decade. The potential is giant, as these targeted therapies might eventually account for a quarter of the current oncology market. With over 100 of these drugs in clinical trials, the stampede might lead to lower-than-expected returns.

Persons: Jeff Zelevansky, Robert Cyran, Jean, Pierre Mustier, Atos, Jennifer Saba, Aditya Sriwatsav Organizations: Merck & Co, REUTERS, Reuters, Merck, Pfizer, X, News Corp, Thomson Locations: Linden , New Jersey, American, Japan

☆ Rentokil may be next to nibble at US listing
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 19 (Reuters Breakingviews) - Rentokil (RTO.L) is an obvious contender to ditch its London listing in favour of the U.S. CEO Andy Ransom said that it is getting harder to win new business due to “the macroeconomic backdrop”. Rollins is valued on nearly 38 times its forward earnings, versus Rentokil which was trading on just 23 times before Thursday’s fall, according to LSEG data. With Rentokil shareholders a little ratty, Ransom may come under more pressure to consider ways of pepping up the stock, like ditching London in favour of the more highly valued U.S. market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Andy Ransom, Ransom, Rollins, Aimee Donnellan, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, U.S, X, News Corp, Thomson Locations: Los Angeles , California, U.S

☆ P&G price hikes have no-tears effect on US wallets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Pampers, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsWashington/NEW YORK, Oct 18 (Reuters Breakingviews) - If Americans are fed up with inflation, their checking accounts aren’t showing it. Procter & Gamble (PG.N) topped earnings expectations on Wednesday after raising prices 7% year-over-year in the third quarter. Imagine all producers of such goods raised prices by 7% in the past year, as P&G did. P&G credits innovation, and if it can squeeze where others can’t, it may even be able to raise prices more.

Persons: Andrew Kelly, Forrester, Ben Winck, John Foley, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Procter & Gamble, REUTERS, Washington, Reuters, of America, PepsiCo, X, News Corp, Thomson Locations: Manhattan , New York City, U.S

☆ Starboard dusts off old plan at News Corp
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

A view of the signage outside the News Corporation building in New York, U.S., September 21, 2023. REUTERS/Bing Guan Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Maybe it takes a pile on to move the Murdoch family’s thinking. Reuters reported on Friday that Jeff Smith’s Starboard is the latest activist to try and unlock value at News Corp (NWSA.O), the publisher of the Wall Street Journal, owner of book conglomerate HarperCollins and Realtor.com. Starboard, which took a position in the $13 billion company, is pushing for a spinoff of the real estate assets, according to the Wall Street Journal. Last year Irenic Capital Management agitated for the same transaction in reaction to the Murdochs’ desire to reunite News Corp with broadcasting company Fox (FOXA.O).

Persons: Bing Guan, Murdoch, Jeff Smith’s, pushback, Jennifer Saba, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: News Corporation, REUTERS, Reuters, News Corp, Wall Street Journal, HarperCollins, Wall Street, Capital Management, Fox, X, Thomson Locations: New York, U.S, Europe

☆ Fact Check-Sahara dust magnetism is not evidence of chemtrails
▼ + stars: | 2023-09-12 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The social media post for the clip, as well as another video posted to Twitter here, also claims that the dust’s magnetism is evidence of “chemtrails". However, experts say magnetism is typical of Saharan dust. Saharan dust’s characteristic red colour reflects the presence of small amounts of haematite, a weakly-magnetic mineral, she said. However, air pollution-derived metals are usually present in much lower quantities than the naturally-sourced metal-bearing dust particles, she said. Saharan dust contains naturally magnetic particles, including haematite, which gives the dust its characteristic red colour.

Persons: ”, Barbara Maher, Richard Harrison, Maher Organizations: Facebook, Twitter, Centre, Environmental Magnetism, Lancaster University, University of Cambridge’s Department of Earth Sciences, Aeolian Research Locations: United Kingdom, Europe

CNN —The United States has decided to send controversial depleted uranium munitions to Ukraine for the first time, as part of a new aid package worth more than $1 billion announced Wednesday. Here’s what you need to know about depleted uranium munitions – and why their use has sparked questions. What is depleted uranium? But depleted uranium is extremely dense, making it a highly effective projectile. When depleted uranium munitions strike a tank’s armor, it can ignite and produce uranium dusts or aerosol particles, which, if inhaled, can enter the bloodstream and may cause kidney damage.

Persons: ” Edward Geist, Antony Blinken's, –, Sabrina Singh, ”, Singh, “, Joe Biden’s, Vladimir Putin, …, ” Putin, Putin, Sergei Ryabkov Organizations: CNN, Abrams, RAND Corporation, RAND, Associated Press, US, International Atomic Energy Agency, IAEA, United Nations, Pentagon, United, British Army Locations: United States, Ukraine, Washington, Kyiv, Moscow, Here’s, United Kingdom, “, West, Russia

☆ Why E. Jean Carroll Will Always Tell You She Is ‘Fine, Fabulous’
▼ + stars: | 2023-05-05 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

Taking the witness stand, she recalled that Ms. Carroll had phoned her immediately after the alleged incident with Mr. Trump “breathless, hyperventilating, emotional,” but that the subject did not come up between them again for another quarter century. Carroll is a very up person; she is not a victim,” Ms. Birnbach said. In the mid-1990s, decades after the sexual revolution, nearing the declining days of the AIDS crisis and the heyday of elite media, New York seemed to belong to women like E. Jean Carroll. A pair of big media personalities — Ms. Carroll was a well-known advice columnist by then — meeting so unexpectedly to do something vaguely conspiratorial. At the outset, the story seemed so paradigmatically “New York,” Ms. Carroll explained in her testimony.

REUTERS/Jane RosenbergMay 2 (Reuters) - A friend of E. Jean Carroll on Tuesday backed up the writer’s account of being raped by Donald Trump, testifying during a civil trial that she received a phone call about the alleged attack minutes after it occurred. Birnbach, author of many books including "The Official Preppy Handbook,” said Carroll told her Trump slammed her into the wall, pulled down her tights and “penetrated her with his penis.”“I whispered, E. Jean, he raped you. Carroll told jurors last week that Trump put his fingers into her vagina, which she called "extremely painful," and then inserted his penis. Birnbach testified that Carroll refused to go to the police after the alleged rape and asked her to never tell anyone about the incident. Reporting by Jack Queen in New York; Editing by Noeleen Walder and Howard GollerOur Standards: The Thomson Reuters Trust Principles.

☆ Photos show 10 mummified crocodiles found in an Egyptian tomb, likely after being sacrificed
▼ + stars: | 2023-01-19 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

A ancient Egyptian tomb was uncovered containing ten mummified crocodiles. The tomb's contents was likely sacrificed for the crocodile-headed god Sobek. The leading theory is that the crocodiles were sacrificed as an offering to Sobek, the crocodile-headed god of the Nile and fertility. Sobek, the crocodile-headed god of fertilitySobek, the crocodile-headed god of fertility, is shown in hieroglyphs in Kom Ombo, southern Egypt. "In theory, it was an area where there was not much devotion to the crocodile god Sobek."

☆ From the Shanghai upgrade to U.S. regulation: Watch these 5 events to see where crypto markets are heading in 2023
▼ + stars: | 2023-01-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +7 min

Unlike in previous crypto winters, however, macro forces outside the crypto industry are the biggest drivers of the market. The Shanghai upgrade Ethereum developers are gearing up for the network's next big upgrade, the "Shanghai" upgrade, which has a target release of March 2023. "The problem right now is if you stake ether into the network, your ether will be locked until the Shanghai upgrade," Lau said. "There will be more liquidity of ether after the Shanghai upgrade," he added. Gox but the expected distribution of the bitcoin recovered from the exchange's 2014 implosion could be a near-term headwind for bitcoin investors.

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