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☆ Here are some of the companies saying weight loss drugs could impact their business
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

The impact of new weight loss treatments is being felt well beyond the health-care industry . During the second quarter, which beat expectations , shoppers were still focused on health and wellness, CEO Doug McMillon said Thursday. Some companies already bar weight loss medications from their insurance plans to keep costs down. Executives said it was tied to an increase in specialty drug use for weight loss and diabetes. Eli Lilly's Mounjaro hasn't yet been approved for weight loss, though some people are taking it off label for that reason.

Persons: Eli Lilly, Joe Scalzo, Scalzo, Atkins, Regeneron, George Yancopoulos, Doug McMillon, WMT, Kroger, Paul Sarvadi, Eli Lilly's Mounjaro, Stephan Tata, Tata hedged, Tata Organizations: Analysts, Novo Nordisk, Co, Simply, Atkins, Walmart, WMT KR, Kroger, Cardinal Health, Drug Administration, Tata Locations: U.S

☆ Monthly Meeting update: Jim Cramer says buy this cloud play and this industrial stock
▼ + stars: | 2023-08-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

In an up-and-down market since our July Monthly Meeting, we added two stocks to our portfolio: an industrial name and an emerging cloud play. The business software giant is emerging as a cloud infrastructure name that has really come on as of late. For years, Oracle lagged behind the likes of Amazon Web Services, Azure, and Google Cloud, but the company hit a turning point when it launched its second-generation cloud infrastructure offering, called Oracle Cloud Infrastructure Generation 2, or OCI Gen 2, in the summer of 2020. Total cloud revenue growth surged to 54%, with 45% growth for Cloud Applications and 76% growth for Cloud Infrastructure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, I'm, Ed Breen, DuPont, Rogers, Dupont, Jim Cramer's, Jim, Spencer Platt Organizations: Oracle, DuPont, Amazon Web Services, Google, Oracle Cloud Infrastructure, Nvidia, Cloud Infrastructure, Management, Microsoft, Federal Reserve, Rogers Corporation, CNBC, Traders, New York Stock Exchange, Getty Locations: China, DowDuPont, New York City

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. The regional health insurance provider will still retain CVS Caremark for managing specialty drugs, which are costly medications used to treat complex conditions like cancer and rheumatoid arthritis. Other analysts highlighted difficulties in shifting to a different model than the one offered by companies like CVS - which provide other services including home drug delivery and reimburse pharmacies for patients' prescriptions. Amazon Pharmacy will provide at-home delivery of prescription drugs as well as upfront pricing, while Mark Cuban Cost Plus Drug Company will provide access to generic drugs, Blue Shield said. Blue Shield of California's other partners include privately held Abarca for processing claims related to prescription drugs, while smaller PBM Prime Therapeutics will work to negotiate savings with drugmakers.

Persons: Dado Ruvic, Cigna, UnitedHealth, Mark, Elizabeth Anderson, J.P, Morgan, Lisa Gill, Gill, Blue, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai, Krishna Chandra Eluri, Frances Kerry Organizations: CVS, REUTERS, Amazon, Cigna, UnitedHealth, Evercore ISI, Mark Cuban, Plus, Thomson Locations: Bengaluru

☆ Blue Shield of California drops CVS, taps Amazon and others to lower drug costs
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Blue Shield, whose health plans cover 4.8 million members, said it will now work with five different companies, including Mark Cuban's drug company, to provide "convenient, transparent access to medications while lowering costs." Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of the Blue Shield pharmacy benefit management contract is another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.

Persons: Dado Ruvic, UnitedHealth, Mark Cuban's, Paul Markovich, Mark, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Blue, Cigna, UnitedHealth, Pharmacy, Wall Street, Mark Cuban, Plus, Thomson Locations: Blue, Bengaluru

☆ Plant-Based Plastics Gain Favor as Companies Pursue Sustainability Goals
▼ + stars: | 2023-08-17 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Plant-based plastic, that is. However, the environmental benefits of plant-based plastics are increasingly appealing to companies promising to use more sustainable materials by the end of the decade. Plants absorb the atmosphere’s carbon dioxide, which cuts the greenhouse-gas emissions from making bioplastics to at least half that of fossil-fuel-based plastics. A Lululemon shirt containing plant-based nylon. Only plant-based plastics that are chemically identical to fossil-fuel–based versions can enter the existing and growing recycling infrastructure.

Persons: Bioplastics haven’t, Michael Carus, “, ” Carus, Eastman, Chris Killian, bioplastics, Warby Parker, ”, Biden, Manav, olefins, Dow, bioethylene, LVMH Moët Hennessy Louis, Haley Lowry, Dieter Holger Organizations: Sustainable Business, Kodak, U.S . Defense Department, European, dieter.holger Locations: China, Japan, biomanufacturing, U.S, Iowa

Blue Shield of California will no longer use CVS Health’s Caremark as its pharmacy benefit manager and instead will partner with several companies, including Amazon Pharmacy and Mark Cuban Cost Plus Drug Company. They have come under fire from other players in the health care industry and from Congress because of their opaque practices. Most adults take at least one prescription drug annually, while more than a third take at least three, Blue Shield said, citing Centers for Disease Control and Prevention data. CVS Caremark will continue to work with Blue Shield, providing specialty pharmacy services for members with complex conditions. The company bought online pharmacy PillPack in 2018, launched its own Amazon Pharmacy in 2020 and last year created a virtual health care clinic.

Persons: ” Paul Markovich, Mark Organizations: New, New York CNN, CVS, Amazon Pharmacy, Cuban, Plus Drug Company, Pharmacy, Blue, for Disease Control, ”, Mark Cuban, Plus, CVS Health, Amazon Locations: New York, California

☆ Blue Shield of California taps Amazon, Mark Cuban's Cost Plus Drugs for its pharmacy network
▼ + stars: | 2023-08-17 | by ( Bertha Coombs | ) www.cnbc.com time to read: +2 min

Blue Shield of California is teaming up with Mark Cuban's Cost Plus Drug Company and Amazon Pharmacy — turning away from traditional drug store chains and ditching in part health giant CVS — in a move to save on drug costs for its 4.8 million members. "I expect we're going to — when this ramps up completely — we're going to be saving $500 million a year," said Paul Markovich, CEO of Blue Shield of California. For Cost Plus, which sells drugs at 15% above wholesale prices, California Blue Shield is only the second insurer to sign with the online pharmacy since it launched in January 2022. "I think all payers realize that now that Cost Plus has made the price of medications transparent. The health insurer expects to launch the program for its members in 2025.

Persons: Mark Cuban's, Paul Markovich, Markovich Organizations: Drug Company, Amazon Pharmacy, CVS, Blue, of, Cross Locations: of California, California, Harrisburg , Pennsylvania

☆ Stocks making the biggest premarket moves: Walmart, Adobe, Cisco, Hawaiian Electric and more
▼ + stars: | 2023-08-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading:Walmart — Shares added as much as 1% after the big-box retailer raised its full-year forecast and reported an earnings and revenue beat. Adobe — The software company added about 2% after Bank of America upgraded shares to buy from neutral. Hawaiian Electric — The utility company that oversees Maui Electric sank nearly 18% in premarket trading, continuing its slide over concerns of its potential liability in Maui's wildfires. On Wednesday, the Wall Street Journal reported Hawaiian Electric is in talks with firms that specialize in restructuring. VinFast Auto — Shares of the electric vehicle start-up fell nearly 5% in premarket trading as VinFast's stock searches for its level after debuting earlier this week.

Persons: Adobe, Cuban's, Wolfspeed, —, Alex Harring, Jesse Pound, Michael Bloom Organizations: Walmart, Refinitv . Revenue, Cisco Systems, postmarket, Refinitiv, Revenue, Adobe, Bank of America, Maui Electric, Wall Street Journal, CVS, California, Drug Company, Amazon Pharmacy, BAE Systems Locations: Williston , Vermont, California

☆ Jim Cramer's top 10 things to watch in the stock Thursday
▼ + stars: | 2023-08-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Dow stock Walmart (WMT) delivers a big quarterly beat. We increased our Club price target to $100 per share from $88 . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Chuck Robbins, Mark Cuban's CostPlus, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Nasdaq, Investment, Walmart, Walmart U.S, Target, Wall Street, TJX Companies, Marshalls, Cisco, Disney, ESPN, Apple, Amazon Pharmacy, Bank of America, Adobe, Jim Cramer's Charitable, CNBC Locations: HomeGoods, TJX's, California

☆ CVS stock plunges after Blue Shield of California drops retailer's pharmacy services to save on drug costs
▼ + stars: | 2023-08-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of CVS Health plunged 9% on Thursday after Blue Shield of California said it will drop the company's pharmacy benefit management services and instead partner with Mark Cuban's Cost Plus Drug Company and Amazon Pharmacy to save on drug costs for its nearly 5 million members. Blue Shield will now work with five different companies to provide "convenient, transparent access to medications while lowering costs." Blue Shield CEO Paul Markovich said the plan, which is scheduled to fully launch in 2025, could save the company up to $500 million annually. Cuban's Cost Plus Drug Company will provide access to low-cost medications through retail pharmacies. Blue Shield will retain CVS Caremark for its specialty pharmacy services, which provide specialized therapies and counseling to patients suffering from complex disorders.

Persons: Mark Cuban's, Caremark, Paul Markovich, Michael DeAngelis, Centene Organizations: CVS Health, Drug Company, Amazon Pharmacy, UnitedHealth, CVS, Abarca, Blue, CNBC Locations: New York, California

☆ Several Buy Buy Baby, Harmon stores to reopen after buyers scored deals on the bankrupt brands
▼ + stars: | 2023-08-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

(The new Buy Buy Baby will operate independently from Dream on Me.) What will the new Buy Buy Baby offer? A display of diaper bags at a Buy Buy Baby location in Brooklyn, New York in January 2023. In order to survive this time around, Buy Buy Baby will need to focus on offering a unique value proposition, said Saunders from GlobalData. "It's not only Buy Buy Baby that failed.

Persons: Patrick T, Harmon, Avish Dahiya, Dahiya, Jonah Raskas, Raskas, Overstock, Curtis Nagle, Neil Saunders, they've, Glen Cary, Cary, Melissa Gonzalez, that's, Gonzalez, there's, Gabrielle Fonrouge, Saunders, It's, There's, What's, David Abrams, Abrams Organizations: Fallon, Bloomberg, Getty, CNBC, Harmon, Bank of America, Target, Walmart, Lionesque, Bed Bath Locations: Los Angeles, U.S, New York , New Jersey, Pennsylvania, Bath, Brooklyn , New York, GlobalData, New York, New Jersey, Manhattan

☆ Blue Shield California drops CVS; picks Amazon, others to lower drug price
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Non-profit health plan provider Blue Shield, which has 4.8 million members, said it will work with partners including Amazon.com and Mark Cuban's Cost Plus Drug Company to provide at-home delivery and access to low-cost medications. Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of Blue Shield marks another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.

Persons: Dado Ruvic, Cuban's, Privately, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Wall Street Journal, Cigna, UnitedHealth, Company, Thomson Locations: Bengaluru

☆ Here's a rapid-fire update on all 36 stocks in the Club's portfolio, including 2 recent buys
▼ + stars: | 2023-08-17 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 36 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Apple remains an "own it, don't trade it" stock, Jim said. Halliburton (HAL): Given we just added a new stock to the portfolio, Jim said Halliburton may be the stock we look to cut ties with. The lesson with P & G is that, sometimes, there's nothing to do but hold a stock, Jim said. Stanley Black & Decker (SWK): The maker of DeWalt and Craftsman tools is one of the best bargains in our portfolio, Jim said.

Persons: Jim Cramer's, Jim, it's, We're, —, he's, he'll, we're, Dupont, Walt Disney, Estee Lauder, Locker, Mary Dillon's, Halliburton, Humana, Humana's, Linde, Eli Lilly, there's, Mark Zuckerberg's, Jim said, Morgan Stanley, James Gorman, Nikesh Arora, Elliott Management's, Elliott, Stanley Black, Decker, It's, Wells Fargo, Wells, Charlie Scharf —, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon, Federal, Bausch Health, Caterpillar, Costco, Coterra Energy, DuPont de Nemours, Comcast, Emerson, Emerson Electric, Ford, United Auto Workers, GE HealthCare Technologies, Big Tech, NFL, Halliburton, HAL, Texas, Honeywell International, Honeywell, Linde, LIN, Facebook, Reality Labs, Microsoft, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, TJX, Goods, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: Bausch, China, Hulu, NBCUniversal, Palo, Macao

☆ Cadaver dogs are in Maui to help find the deceased
▼ + stars: | 2023-08-14 | by ( Zoe Sottile | ) edition.cnn.com time to read: +8 min

As Maui officials continue searching through the wreckage for the many who are still missing after wildfires tore through the island, they have a new tool at hand: human remains detection dogs, often called cadaver dogs. Human remains detection dogs are one of several kinds of working dogs trained to detect scents, like bomb or drug detection dogs. Search dogs are often dogs with a working heritage, like border collies or German shepherds. Lynne Engelbert, a human remains detection dog handler and teacher, told CNN the job requires a specific canine personality. Lisa Briggs, a forensic criminologist who specializes in the use of human remains detection dogs, told CNN not all human remains detection dogs have the same skills – and the dogs in Maui would need to be imprinted specifically on burnt remains in order to search effectively.

Persons: Hurricane Dora, John Pelletier, “, Jason Purgason, Lynne Engelbert, that’s, ”, Purgason, it’s, Lisa Briggs, –, ” Briggs, Mary Cablk, ” Cablk, “ There’s, Briggs, ” Purgason, Hurricane Katrina, Engelbert, “ They’re Organizations: CNN, National Fire Protection Association, Officials, Federal Emergency Management, Maui Police, Highland Canine, Desert Research Institute, Hurricane, “ Locations: Maui, Hurricane

☆ Here are the six trades and the two price-target changes the Club made this week
▼ + stars: | 2023-08-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

During another busy week of earnings and stock market swings, we picked our spots and made six trades, including calling up a Bullpen name. We also changed two Club price targets. Shortly after the opening bell, we trimmed some Caterpillar and booked some profits after the industrial giant's blowout earnings last week. Jim Cramer's Charitable Trust — the holdings we use for the Club — owns 315 shares of Caterpillar. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Club —, Stanley Black, Decker, Stanley, Wolfe, Eli Lilly, Lilly, Bob Iger's, Jeff Marks, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Caterpillar, DuPont, Revenue, Club, Management, Coterra Energy, West Texas, Wolfe Research, Halliburton, HAL, GE Healthcare Technologies, Disney, The, GE Healthcare, pharma, Big Tech, CNBC Locations: Coterra

☆ Opioids expose unhealthy bankruptcy addictions
▼ + stars: | 2023-08-11 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

Between 2006 and 2014, it manufactured roughly 30 billion opioid pills. Its attempt to climb out of bankruptcy has been stalled multiple times, most recently on Thursday by the U.S. Supreme Court. Mallinckrodt agreed to a $260 million settlement last year and quarterly revenue from Acthar has tumbled 70% since 2019. If not, it will be up to elected officials to end such unhealthy bankruptcy addictions. As part of that settlement, Mallinckrodt agreed to pay $1.7 billion over eight years to settle opioid claims.

Persons: Johnson, Mark Trudeau, Sackler, Mallinckrodt, It’s, haven’t, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Mallinckrodt Pharmaceuticals, Johnson, CVS Health, Purdue Pharma, U.S, Supreme, Department of Justice, Specialty Brands, Point, Purdue, Purdue Pharma’s, DOJ, Biden Administration, Thomson Locations: American, Delaware, Acthar

☆ Mushrooms are flourishing in the Abu Dhabi desert
▼ + stars: | 2023-08-10 | by ( Sarah Lazarus | ) edition.cnn.com time to read: +4 min

Now, a startup in Abu Dhabi has found a way to grow them in the middle of the desert. Below Farm is producing “specialty mushrooms” such as oyster, king oyster, shiitake and lion’s mane. Managing director Bronte Weir says the indoor farm, about 45 minutes’ drive from downtown Abu Dhabi, is the first in the region to grow and sell high-end mushrooms. He now orders 20 kilograms (44 pounds) of oyster mushrooms a week from the company. Neighborhood pizzeria Marmellata uses Below Farm's produce on one of its most popular dishes: the kale and mushroom pizza.

Persons: Bronte Weir, ” Weir, Liliana Slowinska, Wojciech Slowinski, Weir, isn’t, Abu, we’ve, ”, “, we’re, Dagstani Organizations: Hong Kong CNN, CNN Business, Business Research Company Locations: Hong Kong, Abu Dhabi, Europe, United States, UAE

☆ August is National Wellness Month. Here's where to find trusted products and expert insights to enhance your well-being.
▼ + stars: | 2023-08-10 | by ( Sponsor Post | Created Iherb With Insider Studios | ) www.businessinsider.com time to read: +3 min

August is National Wellness Month, and with health and wellness top of mind, it's the ultimate time to prioritize your daily well-being. However, it can be challenging to navigate a crowded market and find trusted resources when it comes to health products. That's where iHerb comes in, a leading online retailer of health and wellness products. Simply put, iHerb makes wellness better by providing quality health and wellness products in one seamless destination. In addition to its wide breadth of trusted health and wellness products, iHerb features a widely read blog and Wellness Experts Library.

Persons: iHerb Organizations: Wellness, US, GMP, Wellness Experts, Experts, Insider Studios Locations: iHerb

☆ These 10 medications are likely targets for Medicare price negotiations this fall
▼ + stars: | 2023-08-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Though it is still unclear which 10 drugs Medicare will select, several pharmaceutical companies have already revealed in court filings that they expect four of their blockbuster medications to be targeted. Bristol-Myers Squibb and Johnson & Johnson , in separate filings, said their blood thinners Eliquis and Xarelto will be subject to the negotiations this year. The list price of Januvia has surged 275% since 2006, according to the AARP. Johnson & Johnson reported $2.47 billion in revenue from Xarelto. "More and more people face cost-sharing that is directly affected by drug price increases," Leigh Purvis, who analyzes health-care costs for AARP, told reporters on a call Thursday.

Persons: Daniel Acker, Merck, Johnson, Abbvie, Imbruvica, Jardiance, Boehringer Ingelheim, Amgen Symbicort, Pfizer Xtandi, Breo, Biden, Januvia, Eliquis, Xarelto, Leigh Purvis Organizations: Merck, Co, Inc, Bloomberg, Getty, Medicare, Services, Myers Squibb, Johnson, Pharmacy, AstraZeneca Ibrance, Pfizer, Astellas Pharma, GSK, AARP, Bristol Myers Squibb, Jama Network, Industry Locations: Bristol, U.S, Januvia, Xarelto

☆ Coffee chains are betting big on cold drinks as Gen Z turns its back on old-school coffees
▼ + stars: | 2023-08-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Cold drinks tend to cost more, but they can also cause headaches for staff. Cold drinks account for 75% of Starbucks' beverage sales. "The team is making good progress with its efforts to become a bigger player in the high-growth cold beverage category and saw cold beverage sales grow 16.6% year-over-year," Restaurant Brands International CEO Josh Kobza said. Tim Hortons' cold drinks menu looks remarkably like Starbucks' – especially in the US. Cold drinks can potentially reap higher profits for coffee chains because they tend to cost more and some customers opt for costly modifications.

Persons: Tim Hortons, Laxman Narasimhan, Josh Kobza, Kobza, Tim Hortons execs, Howard Schultz, Brady Brewer, Brewer, Baristas Organizations: Starbucks, Service, Brands Locations: Wall, Silicon, Canada, Maryland, Nebraska

☆ What really is plus-size fashion? Experts weigh in on the term’s meaning
▼ + stars: | 2023-08-08 | by ( Kristen Rogers | ) edition.cnn.com time to read: +11 min

But what’s really considered a plus-size body or garment? Mike Coppola/Getty ImagesThough there are no universal criteria for plus-size clothing, the general perception of what constitutes plus-size has changed over time. Sixty-seven percent of US women are considered plus-size, Downing Peters said. The dearth of plus-size clothing adds to a stigma that makes people with bigger bodies feel marginalized, she added. Other stores have meanwhile stopped separating standard and plus-size clothing into different departments, which may help eliminate stigma, Keist said.

Persons: Ashley Graham, Paloma Elsesser, Precious Lee, Tess Holliday, what’s, ”, Lauren Downing Peters, Mike Coppola, “, Marilyn Monroe, ’ ”, Carmen Keist, —, Downing Peters, Monroe wouldn’t, ” Downing Peters, it’s, Emma McClendon, Keist, Jeff Greenberg, ” Keist, ” “, Tim Wimborne, Mina White, White, Jacopo Raule, we’ve, lionizing, ’, Fang, Lane Bryant, Christian Siriano, Michael Kors, I‘d Organizations: CNN, Columbia College Chicago, New York, Bradley University in, Bettmann, Getty, St, John’s University, El, Fashion Group, Reuters, Vogue, Brands, Universal, Dia, Co Locations: Bradley University in Illinois, Korea, United States, United Kingdom, British, New York, El Corte, Spain, Sydney, Florence, inclusivity, Meijer

☆ Nvidia reveals new AI chip, says costs of running LLMs will 'drop significantly'
▼ + stars: | 2023-08-08 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Currently, Nvidia dominates the market for AI chips with over 80% market share, according to some estimates. But Nvidia's chips are in short supply as tech giants, cloud providers and startups vie for GPU capacity to develop their own AI models. Nvidia's new chip, the GH200, has the same GPU as the company's current highest-end AI chip, the H100. Oftentimes, the process of working with AI models is split into at least two parts: training and inference. Companies including Google and Amazon are also designing their own custom AI chips for inference.

Persons: Jensen Huang, Walid Berrazeg, Bard, OpenAI's, Huang, Ian Buck, Buck Organizations: Getty, Nvidia, AMD, Google, ARM Locations: Taiwan

☆ How Rao's pasta sauces went from the kitchen of New York's most exclusive Italian restaurant to be sold to Campbell's in a $2.7 billion deal
▼ + stars: | 2023-08-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Specialty foods company Sovos bought the brand in 2017 and grew sales to more than $600 million. Bobby Bank/WireImageSales grew slowly until 2017 when specialty foods company Sovos Brands bought the Rao's Homemade packaged foods division and turned up the proverbial heat. Hermida added that sauce makes up more than 80% of Sovos' business, and that one in eight US households buy Rao's Homemade sauce. Sovos reported Rao's brand sales of $580 million in 2022, largely through Costco and Walmart, and sales have already climbed more than 33% in 2023. On Monday, Sovos announced a $2.7 billion deal with Campbell Soup in which the packaged foods giant would acquire the group, including Rao's Homemade.

Persons: Sovos, Campbell Soup, Frank Pellegrino Sr, Frank Pellegrino, Dino Gatto, Yuri Hermida, Forbes, Hermida, Campbell Organizations: Service, Bobby Bank, WireImage, Sovos Brands, Costco, Walmart Locations: Wall, Silicon, East Harlem, New York, Las Vegas, Los Angeles, Rao's

☆ The secret side of the Mediterranean – by boat in Turkey
▼ + stars: | 2023-08-07 | by ( Rob Hodgetts | ) edition.cnn.com time to read: +10 min

Tropez of Turkey,” but there are plentiful nooks and crannies to discover away from the crowds. Jetties jut into the emerald water enticing boat crews to dine at the small tavernas, including Captain Ibrahim’s and Rosemary Restaurant. Across the gulf on its own peninsula is pretty waterfront town Bozburun, known for its thyme honey, sponge fishing and traditional boat builders. Bestas Limani is known as Cold Water Bay as it's fed by chilly mountain springs. To the south of Fethiye is Bestas Limani, more commonly known as Cold Water Bay because of the cold springs that flow from the mountains.

Persons: Ada, Tropez of, Captain Ibrahim’s, Rosemary, Cleopatra, Mark Antony, Aphrodite, Sleepy Selimiye, Marmaris, Bükü, Mattia Sobieski, St, Nicholas –, – Organizations: CNN, Baba, Q Locations: Coast . Gulf, Gökova, Yalıkavak, Gümüşlük, Kalymnos, Fenerci, Kos, St, Tropez, Tropez of Turkey, ”, Bodrum, Orak, Maldives, North Africa, Kedrai, Değirmen, Knidos, Hisarönü, Simi, bougainvillea, Turkey, Palamut, Bençik Bay, Loryma, Hellenic, Çiftlik, Marmaris, Ekinçik, Kaunos, . Gulf, Fethiye, imageBROKER.com, Telmessos, Turkish, Tersane, Ottoman, Ruin, Wall, Kayaköy, Lausanne, Gemiler

☆ Cold drinks are hot at Starbucks. It's iced coffee season all year now
▼ + stars: | 2023-08-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

The increase has been fast: Just five years ago, coffee, teas, lemonades and other cold drinks made up less than half of Starbucks’ beverage sales. Justin Sullivan/Getty ImagesThis trend isn’t exclusive to Starbucks, as other coffee companies are catering to growing demand for cold drinks. Half of Gen Z consumers own a drip coffee brewer, compared to 60% of all coffee consumers, Mintel said. Younger consumers view cold coffee beverages as more refreshing, better tasting and more of a treat than hot coffee, the surveys show. Iced macchiato, iced specialty tea, iced espresso and iced americano have also ranked among the fastest-growing non-alcoholic drinks on menus tracked by Technomic.

Persons: Justin Sullivan, Keurig, Maxwell, Mintel, ”, Dorothy Calba, Lizzy Freier, Freier, “ Organizations: New, New York CNN, Starbucks, Euromonitor, americano, Technomic Locations: New York

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