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☆ A Year After Russia’s Invasion of Ukraine, Tough Sanctions Linger
▼ + stars: | 2023-02-24 | by ( Richard Vanderford | ) www.wsj.com time to read: +7 min

Russia’s invasion of Ukraine a year ago prompted a volley of tough sanctions from the U.S. and its allies, a historic use of economic measures that will likely have lasting implications for businesses. Hundreds of companies, though, decamped, calculating that the looming threat of sanctions ratcheting up and reputational risk warranted an exit. “Countries continue to rely on those tools for foreign policy. The Russia sanctions have functioned as a “wake-up call” to the C-suite, Mr. Smith said. The use of coordinated sanctions, both in Russia and as a broader foreign policy tool, doesn’t seem to be going away, experts agreed.

☆ NHL roundup: Bruins edge Kraken on Jake DeBrusk's late tip-in
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +7 min

Brandon Carlo scored the first of the Bruins' two third-period goals, while McAvoy and Hampus Lindholm had two assists apiece. The winning goal was DeBrusk's third goal in three games since returning from injuries. Minnesota killed off its 22nd straight penalty in the win and has not given up a power-play goal in nine straight games. Oilers 7, Penguins 2Connor McDavid had two goals and two assists as Edmonton scored seven straight goals to defeat host Pittsburgh. Vincent Trocheck scored the only goal for the Rangers, who have lost three straight following a seven-game winning streak.

☆ United States get World Cup momentum with SheBelieves Cup win
▼ + stars: | 2023-02-23 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

[1/4] Feb 22, 2023; Frisco, Texas, USA; Brazil forward Geyse (18) dribbles as United States of America defender Emily Sonnett (14) defends during the second half at Toyota Stadium. Mandatory Credit: Chris Jones-USA TODAY SportsFeb 22 (Reuters) - The United States got a boost of confidence as they beat Brazil 2-1 to clinch their fourth consecutive SheBelieves Cup title on Wednesday in Frisco, Texas, less than 150 days before the World Cup. "The whole time throughout the tournament, while we're in camp, we're talking about (how) it's not just about this tournament it's about preparation for the World Cup," head coach Vlatko Andonovski told reporters. But 24-year-old forward Swanson has all but assured she'll be part of the equation when they kick off the World Cup group stage in New Zealand against Vietnam. With only two more matches expected before the U.S. World Cup roster is announced, there is scarce time left for players to distinguish themselves.

☆ CRISPR pioneer Feng Zhang plans to 'break open the barrier' facing gene editing after raising $193 million for his secretive new startup
▼ + stars: | 2023-02-16 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +5 min

Feng Zhang, Aera's founder and a CRISPR pioneer, spoke with Insider about his vision for the firm. Aera wants to "break open the barrier" of tech through methods like gene editing, Zhang said. The CRISPR pioneer Feng Zhang spoke with Insider about Aera Therapeutics, his Boston-based biotech. "The goal is to break open the barrier that's facing genetic medicine," Zhang told Insider in his first interview about the company. In starting another company, Zhang said he felt it was important to have a dedicated team focused on delivery.

Feb 14 (Reuters) - Law firm Covington & Burling fired back at a lawsuit from the U.S. Securities and Exchange Commission on Tuesday, arguing the agency overstepped by asking it to identify clients affected by a 2020 cyberattack on the firm. Covington said an SEC subpoena for the names of nearly 300 publicly traded companies whose information was accessed or stolen during the hack threatened to expose confidential client information that the firm is required to protect. The SEC sued Covington last month to force the powerful D.C.-based firm to identify the clients as part of an investigation into potential securities law violations associated with the hack. The firm pointed to legal ethics rules that require law firms to keep the confidences of their clients and protect potentially embarrassing information. Covington said it worked with the FBI to investigate the cyberattack and notified all clients whose information was potentially compromised.

☆ The 8 leading biotechs using AI to upend how drugs are discovered
▼ + stars: | 2023-02-13 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +1 min

A few biotech companies have used AI to develop drugs that are already being tested in people. Insider found eight AI biotechs now in the clinic, a critical stage in drug development. Some of the fastest progress has been in using AI to improve the process of creating medicines. At the start of 2020, AI-focused biotechs had zero drugs in the clinic, according to Air Street Capital. Here are the eight biotechs using AI to develop better drugs, in order of how many drugs they have in human testing.

☆ A federal judge accused Facebook of 'gaslighting' users impacted by data breaches and fined the site and its lawyers nearly $1 million
▼ + stars: | 2023-02-11 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Facebook and its lawyers have been fined $925,078 as part of an ongoing class action lawsuit. A judge said in a ruling that Facebook spent years "trying to gaslight" the court about its conduct. "It's almost as if Facebook and Gibson Dunn spent the better part of three years trying to gaslight their opponents, not to mention the Court." "And hopefully, this ruling will create some incentive for Facebook and Gibson Dunn (and perhaps even others) to behave more honorably moving forward." Gibson Dunn lawyers listed in the suit and representatives for Facebook did not immediately respond to Insider's requests for comment.

Feb 9 (Reuters) - A U.S. judge on Thursday sanctioned Meta Platforms Inc (META.O) and its law firm, Gibson, Dunn & Crutcher for “delay, misdirection and frivolous arguments” in a data privacy lawsuit over the company’s sharing of user information with third-parties. Representatives for Gibson Dunn and Facebook did not immediately respond to requests for comment. Los Angeles-founded Gibson Dunn has represented the company in numerous matters. The court had ordered Facebook to turn over data it had collected on the plaintiffs in the case, regardless of whether it had been shared. The case is IN RE: Facebook, INC. Consumer Privacy User Profile Litigation, U.S. District Court for the Northern District of California, No.

☆ Facebook, Gibson Dunn sanction order is light on dollars, heavy on message
▼ + stars: | 2023-02-10 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

CompaniesCompanies Law firms Meta Platforms Inc FollowFeb 10 (Reuters) - To Facebook parent Meta Platforms Inc (META.O) and its lawyers at Gibson, Dunn & Crutcher, $925,000 isn't a whole lot of money. Chhabria, as you've probably heard, ordered Facebook and its lawyers to pay that sum to plaintiffs' lawyers as recompense for their bad-faith litigation tactics. "Does anyone really think that Facebook was planning on taking this case to trial?" This is, by far, the most likely explanation for Facebook and Gibson Dunn’s conduct." Facebook and its lawyers fell into their roles with ease, and then they took things way too far.”Gibson Dunn and Meta both declined to provide a statement on Chhabria’s order.

☆ CRISPR pioneer Feng Zhang's secretive gene-editing startup has hired ex-Alnylam leaders as CEO and chair
▼ + stars: | 2023-02-07 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +4 min

The gene-editing startup Aera has hired biotech vets Akin Akinc as CEO and John Maraganore as chairman. CRISPR pioneer Feng Zhang's newest gene-editing venture has attracted two longtime leaders of the biotech giant Alnylam Pharmaceuticals, Insider has learned. Former Alnylam CEO John Maraganore is chairman of Aera. The SEND technology could allow gene-editing technology to treat more diseases. Based on Zhang's SEND research, Aera hopes to deliver gene-editing tools to more organs, ultimately expanding the number of diseases CRISPR can impact.

☆ 8 tips for staying positive during SAD season, from a psychiatrist
▼ + stars: | 2023-02-04 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

Experiencing less daylight in the winter months, like February, can make you feel, well, kind of sad — and I don't just mean the feeling. As we near the end of October, we approach what is commonly referred to as SAD season, a time when seasonal affective disorder (SAD) impacts many, according to Anisha Patel-Dunn, a psychiatrist and chief medical officer of LifeStance Health, an outpatient mental health company. "Seasonal affective disorder really is a type of depression that can last on average about four to five months," says Patel-Dunn, "For most people, it's really [during] fall into the winter." Critical times when SAD is the most prevalent ranges, but it's typically at its worst during late October through late February, says Patel-Dunn. Here are some tips and tools to help you power through this SAD season.

☆ Republican U.S. lawmaker meets with TikTok, but unpersuaded
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Feb 1 (Reuters) - U.S. Republican Representative Mike Gallagher met with TikTok on Wednesday about the Chinese-owned short video app's U.S. data security plans but still plans to seek to ban TikTok in the United States, a spokesperson for the lawmaker said. Gallagher, the Republican chair of a U.S. House of Representatives select committee on China, met with Will Farrell, interim security officer at TikTok U.S Data Security. The lawmaker "appreciated their time but found their argument unpersuasive," Gallagher spokesperson Jordan Dunn said. Reporting by David Shepardson; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

On Tuesday, Western Digital CEO David Goeckeler said the partnership with Apollo and Elliott would help "facilitate the next stages of Western Digital's strategic review." The latest investment is a precursor to a potential merger between Silicon Valley-based Western Digital and Japan's Kioxia Holdings Corp, according to people familiar with the matter. The sources, who requested anonymity as these discussions are confidential, said the talks between Western Digital and Kioxia are still active. Western Digital and Kioxia jointly produce NAND chips, which are widely used in smartphones, TVs, data center servers and public announcement display panels. Qatalyst Partners, Lazard and J.P. Morgan are serving as Western Digital's financial advisers and Skadden, Arps, Slate, Meagher & Flom LLP is serving as Western Digital's legal adviser.

☆ Why biotech CEOs are growing more cautious about going public — and what they're waiting for
▼ + stars: | 2023-01-30 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

Biotech-startup CEOs are taking more nuanced approaches to going public amid a downturn. SAN FRANCISCO — After record years of initial public offerings in 2020 and 2021, biotech leaders told Insider that the "recipe" for going public no longer works. Most biotechs saw their valuations increase by between 20% and 50% after going public. Insider asked five startup CEOs about how they approach going public and their perspectives on the biotech-IPO market for 2023. But going public doesn't carry an importance of validation for herself or the field of biotech companies specializing in AI, she said.

“If it’s a room of five people, Anita and Bob are two of them,” said a former White House aide, who asked to remain anonymous because the person was not authorized to speak on the record about White House business. The White House declined to comment for this piece. The group of White House aides that were looped in on the discovery immediately was slightly larger and included Dunn, this person said. “Whatever strategy they had has not served him well — the lack of transparency from November to January,” said a second former White House official. Bauer, who didn’t join the administration, has acted as a sounding board for White House lawyers on potential hires.

☆ Wall St Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the rise for the broader index (.SPX). Goldman Sachs, RBC Capital Markets and UBS Global Wealth Management are among the Wall Street firms recommending energy stocks. He said he is slightly overweight the energy sector, including shares of Chevron and Pioneer Natural Resources (PXD.N). But earnings are expected to decline 15% this year, the biggest drop among the 11 S&P 500 sectors. Energy companies executed $22 billion in share buybacks in the third quarter, just over 10% of all S&P 500 buybacks.

WASHINGTON — One of the men charged with assaulting Capitol Police Officer Brian Sicknick on Jan. 6 was sentenced to over 6 years in prison on Friday. His co-defendant, George Tanios, who bought the spray and handed it to Khater, was also sentenced, to time served. Sicknick died a day after being assaulted, but prosecutors declined to charge the two men with his death. As part of his sentencing, Tanios will be on probation for one year and will be required to participate in 100 hours of community service. Garza filed a wrongful death lawsuit against Tanios, Khater and former President Donald Trump earlier this month.

☆ Wall Street Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-27 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

☆ The recipe biotech startups use to go public is being thrown out. 5 startups CEOs reveal how they're changing their focus.
▼ + stars: | 2023-01-26 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

☆ The CEO of a $1.6 billion biotech says his bet on AI is paying off with faster, cheaper research that could reshape the industry
▼ + stars: | 2023-01-25 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +6 min

It has generated tons of data with AI and robots, aiming to find a better way to make drugs. For a biotech executive hoping to make something vast, Chris Gibson seems proudest in obsessing over the tiniest details. Gibson calls this the "human-y" element of research — and it's what Recursion is working hard to eliminate. What's happening in AI — and Recursion is emblematic of this — is we're at the second half of the chess board." Despite the progress in generating massive amounts of data, Recursion's leaders acknowledged that the goal of creating an approved medicine is likely still years away.

☆ Pharma CEOs say Mark Cuban's effort to upend the drug industry is 'a really great idea' but will be difficult to pull off
▼ + stars: | 2023-01-25 | by ( Yeji Jesse Lee | Andrew Dunn | ) www.businessinsider.com time to read: +7 min

Biopharma CEOs say his company Cost Plus Drugs could remove costs from the distribution system. Cuban told Insider in an email that he believed the company's pricing transparency was "an absolute positive for patients." The company started its pharmacy services last year and quickly racked up over 1 million accounts, Cuban told Insider recently. Cost Plus Drugs is focused on bringing down the price of generic medications, which no longer have patent protections but can still be expensive. Cuban told Insider that EQRx was in a "different business" than what he's attempting to build out.

☆ Biden's Cabinet is sticking around, bucking the turnover trend of his predecessors
▼ + stars: | 2023-01-23 | by ( Peter Nicholas | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Carol-Lee-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +7 min

By early 2019, Trump had cycled through seven of 15 Cabinet secretaries and was on his third chief of staff. A White House official said Mayorkas would fight any such attempt and has no wish to step down. The durability of Biden’s Cabinet is something of a surprise. Going back decades, presidents have steadily concentrated power in the White House, at the Cabinet’s expense, historians say. Some Cabinet secretaries have felt marginalized as presidents stocked the West Wing with trusted advisers and usurped the prerogatives of Cabinet members who had thought they were brought in to run things.

☆ Water tech firm Xylem to buy Evoqua in $6.42 bln deal in industrial market push
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 23 (Reuters) - Xylem Inc (XYL.N) said on Monday it would acquire Evoqua Water Technologies Corp (AQUA.N) in an all-stock deal valued at $6.42 billion, boosting its wastewater treatment solutions and providing it access to several industrial markets. Evoqua stockholders will receive 0.480 share of water technology company Xylem for each share held, representing a premium of about 29% based on the shares last close. Xylem, which manufactures equipment used in water and wastewater applications, in 2016 acquired Sensus USA Inc, a provider of advanced metering technologies to utilities. Pittsburgh, Pennsylvania-based Evoqua operates in more than 150 locations across nine countries and provides wastewater treatment solutions to industrial, municipal and recreational customers. After the deal closes, the combined company will be led by Xylem’s president and chief executive officer, Patrick Decker.

[1/2] Ron Klain attends a meeting at the Oval Office of the White House in Washington October 22, 2014. REUTERS/Kevin Lamarque/File PhotoREHOBOTH BEACH, De., Jan 21 (Reuters) - Ron Klain, President Joe Biden's White House chief of staff, plans to leave his post in the coming weeks, sources familiar with the matter said on Saturday, a major changing of the guard. Klain, 61, has a long history at the White House, having served as chief of staff to former Vice President Al Gore and to Biden when he was vice president under President Barack Obama. The chief of staff position is one of the most important at the White House, the senior political appointee responsible for driving the president's policy agenda and ensuring appropriate staff members are hired. Biden's predecessor, Republican Donald Trump, burned through four chiefs of staff in four years including his first, Reince Priebus, who lasted 192 days.

☆ Amazon, Facing Questions Over Workplace Safety, Also Probed on Bank Dealings
▼ + stars: | 2023-01-21 | by ( Richard Vanderford | ) www.wsj.com time to read: +4 min

The office has deployed the 1989 law at the same time the Labor Department presses a workplace safety investigation of Amazon that has already led to several citations. The office also wants video surveillance footage of Amazon facilities and has served subpoenas to take testimony from Amazon employees, including high-level executives, according to Ms. Ahmad. Amazon in court papers in the case in Seattle said the information demands are “unrealistic” and the U.S. Attorney’s Office stretched to assert jurisdiction under Firrea. Any fraud case against Amazon would turn on whether the company had made misrepresentations to lenders and whether those misrepresentations impacted their decision-making, he said. A spokesman for the U.S. Attorney’s Office in Manhattan didn’t respond to a request for information on the identities of the financial institutions whose dealings with Amazon are under scrutiny.

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