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☆ Confessions of a startup founder's wife
▼ + stars: | 2023-11-15 | by ( Melia Russell | ) www.businessinsider.com time to read: +20 min

I wished I had told Kyle that I would understand if he wanted to quit. That's as apt a description of Kyle's startup as it is of our relationship. I'm not sure Kyle has found as many perks to being a startup founder married to a startup reporter. Now Kyle's startup has pivoted a third time. The truth is, I don't know if Kyle's startup will make it.

Persons: Kyle, Kyle shrugged, pang, I'd, hadn't, Scott Belsky, It's, messier, I've, he'd, Jillian, Chris Dixon, Andreessen Horowitz, Jeff Bezos, MacKenzie Scott, Schulze, TikTok, Josh Cochran, Marc Andreessen, I'm, He'd, Eric Paley, Steve Jobs, —, Playbyte, he's, Rohan Seth, Paul Davison, Steve Huffman, hasn't, Instagram, it's, Zelda, That's, cradling, Melia Russell Organizations: Apple Watch, Steam, Francisco's Mission, University of California, TechCrunch, White House, YouTube, Labor Locations: Champagne, Francisco's, Berkeley, San Francisco, New York, America, Playbyte, Kyle, Boston, Bay, sobs

☆ Start-Ups With Laser Beams: The Companies Trying to Ignite Fusion Energy
▼ + stars: | 2023-11-13 | by ( Kenneth Chang | More About Kenneth Chang | ) www.nytimes.com time to read: +1 min

In December last year, after years of trying, the National Ignition Facility, or NIF, at Lawrence Livermore National Laboratory reported that it had finally lived up to its middle name: ignition. For the first time anywhere, a laser-induced burst of fusion produced more energy than that supplied by the incoming lasers. “We’re really excited by the NIF results,” said Kramer Akli, who manages the fusion energy sciences program at the United States Department of Energy. A decade ago, a report by the National Academy of Sciences found much to like in the energy potential of laser fusion but recommended that the United States hold off major investments until ignition was achieved. The sun generates heat and light by jamming — fusing — hydrogen atoms together into helium.

Persons: We’re, ”, Kramer Akli, arth, ould Organizations: National Ignition Facility, Lawrence Livermore National Laboratory, United States Department of Energy, National Academy of Sciences Locations: United States

☆ Elon Musk started a price war that Tesla can't win
▼ + stars: | 2023-11-12 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Elon Musk has started an electric-vehicle price war that Tesla can't finish. In April, Ford CEO Jim Farley said Tesla's cuts could start an unsustainable price war. If it slides back into the red because of its price cuts, expect investors to run in another direction. In China, Tesla's price cuts even sparked protests among owners who paid more for their vehicles. Waging price war during a downturn is a challenge unlike any Tesla has faced before.

Persons: Elon Musk, Tesla, Mark Schirmer, crumb, John Zhang, Musk, —, he's, hasn't, — it's, Frederic J . Brown, Ford, John Lawler, Schirmer, I've, it's, Jim Farley, Elon, Oliver Zipse, Zhang, they're, they'd, Zach Kirkhorn, Linette Lopez Organizations: Cox Automotive, —, Revenue, Wharton School, Ford, BMW, Getty, GM, Mercedes, EV, Hyundai Locations: AFP, China

☆ An Arizona golf course is under attack from a squadron of pig-like creatures
▼ + stars: | 2023-11-07 | by ( Manav Tanneeru | Jack Bantock | ) edition.cnn.com time to read: +6 min

And when the Arizona sunshine breaks over Seven Canyons in the morning, the destruction is revealed. “When you come upon them and see them, it’s like The Tasmanian devil,” Seven Canyons general manager Dave Bisbee told CNN. A javelina at Seven Canyons golf course. Seven Canyons is ringed by the Vermilion Cliffs. “If anything this at least has put us in front of millions of people who didn’t know where Seven Canyons was.

Persons: Dave Bisbee, there’s, ”, fatefully, Emily Casey, emcaseyturf, “, javelina, Bisbee, Casey, Em Casey, @emcaseyturf, we’d, ” Bisbee Organizations: CNN, United, Seven Canyons, Arizona State Department of, Coconino National Forest, Bisbee, Arizona, Fish Department, National Geographic, Wall Street Locations: United States, Arizona, Sedona, South America, Vermilion, Coconino, Bisbee, AZ

☆ Storylines Residential Cruise Faces Backlash From Investors, Ex-Employees
▼ + stars: | 2023-11-01 | by ( Kate Taylor | Brittany Chang | ) www.businessinsider.com time to read: +31 min

Storylines' first cruise ship was initially scheduled to launch in 2019; it's now set for December 2026. Nine former employees, consultants, and investors told Insider that they'd come to doubt the MV Narrative would ever be built. The only existing residential cruise ship is The World. Many Storylines buyers remain optimistic about the residential cruise ship. "The ball is in your court," Punton told buyers in July in a video that's since been taken down.

Persons: Alister Punton, Punton, Shannon Lee, Mike Kasperzak, Jim Holt, Holt, Angela Nuran, Paul Cosentino, Cosentino, We're, Lee, it's, Alexandre Caillol, Condé, superyachts, Sean Fremder, Weeks, Caillol —, —, Marco Polo —, PitchBook, Alexandra Zodian —, Caillol, Michael Edwards, Edwards, he'd, Martin Buggy, Melissa Edyvean, Edyvean, Paul Read, Salvatore R, Mercogliano, Pat Helmers, Helmers, Michael Perisi, Andrew Lentz, didn't, Lentz, Wrocław . Lentz, Andrew, I'm, Lee ., Dick Rosman —, Lee —, Krzysztof Kontek, Kontek's, Michal Jackiewicz, Brodosplit, Brian Martin, Read, Nuran, We've, he's, New Zealand —, Kasperzak, " Lentz Organizations: Punton, Army, West —, Industry, CNN, Brodosplit, Regent Seven Seas, Wall Street Journal, Korea's Samsung Heavy Industries, Utopia, Beverly Hills, Rock City, The Raiders, Raiders, Holland America's, Mariners, New Zealand Locations: massages, Croatian, Beverly, Punton, Queensland, Australia, Broadbeach, California, Rock, Brisbane, Netherlands, Caillol, Polynesia, French Polynesia, France, London, Australian, British, Delaware, Sweden, Tahiti, Perth, Ecuador, Poland, Wrocław, Mexico, Florida, New

☆ I'm a car dealer who only sells electric cars. This is what everyone else is getting wrong — and the advice I give prospective EV buyers.
▼ + stars: | 2023-10-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +8 min

Alex Lawrence is the CEO and cofounder of an all-electric used car dealership in Utah. AdvertisementAdvertisementAlex Lawrence is a 49-year-old entrepreneur and the CEO of EVAuto, an all-electric used car dealership in Bountiful, Utah, which he co-founded in 2019. EVAuto sells a variety of electric cars, from Tesla to Porsche to Rivian. We wanted to be the largest seller of used electric vehicles in America. Now that they're going to be on the Supercharger network, that helps solve the charging problem.

Persons: Alex Lawrence, Alexa St, John, —, EVAuto, Price, I'm, I've, they've, they're, Lorenzo Di Cola, It's, you'll, We've, Tesla, it's, Tim Levin Organizations: Service, Porsche, Ford, Chevrolet, GMC, Plaid Locations: Utah, Bountiful , Utah, America, Italy

☆ Shares of luxury brands are tumbling in a sign consumers' high-end spending spree is over
▼ + stars: | 2023-10-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The boom in luxury goods is over as consumers pull back on their multiyear high-end spending spree. AdvertisementAdvertisementIn the US, card spending for luxury fashion has been on the decline for six quarters in a row, with luxury fashion spending down 16% year-over-year over the past quarter, Bank of America card data shows. Card spending on luxury fashion has declined for six quarters in a row. Bank of AmericaUS card spending on luxury fashion declined 16% year-per-year the past quarter, Bank of America forecasts. That's because European investors often say tech stocks are a competitor to luxury stocks in their portfolios, Colas said.

Persons: —, LVMH, DataTrek, Nicholas Colas, Ralph Lauren, Colas, Kelly Organizations: Service, Bloomberg, Bank of America, Bank of America US, Industry, Consumers, San Francisco Fed, Tech Locations: LVMH, Paris

Tiny but bountiful, Antarctic krill make up one of the planet’s largest biomasses, nourishing everything from fish to marine mammals and seabirds. At Steinberg’s lab, researchers are examining how warming oceans — Antarctic krill need water colder than 4 degrees Celsius (39 Fahrenheit) to survive — are altering krill’s life cycle. However, a leading marine biologist the industry once relied on to burnish its environmental credentials has since denounced krill fishing. She accepted with the hope that she could help mitigate the effects of krill fishing on the Antarctic ecosystem. Today, she believes that krill fishing should be banned.

Persons: “ What’s, ”, Alistair Allan, Bob, it’s, Santa Cruz, Deborah Steinberg’s, ” Steinberg, Emma Cavan, Steinberg, Claire Christian, “ It’s, aren’t, Dirk Welsford, Matts Johansen, ” Johansen, Kjell Inge Røkke, Brett Glencross, “, Jesse Trushenski, Trushenski, Johansen, William Harris, he’s, Javier Arata, Helena Herr, CCAMLR, Ari Friedlaender, ” Friedlaender, Peter Hammarstedt, JoNel, Helen Wieffering, Fu Ting Organizations: Bob Brown Foundation, Soviet Union, Associated Press, Shepherd, Walton Family Foundation, AP, University of California, Virginia Institute of Marine Science, World Wildlife Fund, Imperial College London, Commission, Conservation, Antarctic Marine Living Resources, Antarctic, Southern Ocean Coalition, U.S, United Nations, Antarctic Provider, Aker BioMarine, Aker, Aker ASA, National Institutes of Health, University of South, Association, Pew, University of Hamburg, Foods, Amazon, Wildlife Fund, LCA, Sea Shepherd, Washington , D.C Locations: Antarctica, Chilean, Alaska, U.S, Soviet, Russia, China, South America, Orkney, Norwegian, Santa, Cavan, Tasmania, It’s, Washington, Moscow, Beijing, Texas, Australian, Montevideo, Uruguay, dwarfing, Norway, American, Europe, Canada, Australia, Houston, Aker, Oslo, Brussels, Boise , Idaho, University of South Dakota, Salt Lake City , Utah, Santa Cruz, Virginia, Peruvian, Ski, Los Angeles, Washington ,, Investigative@ap.org

☆ Fenway Farms: On the roof of an iconic sports venue, this urban farm in Boston can grow 6,000 pounds of produce a year
▼ + stars: | 2023-10-10 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +10 min

Boston, Massachusetts CNN —Though home to the Boston Red Sox, Fenway Park is known for being green. Spanning a section of what was once an empty black rubber roof, a farm is making Fenway green in a completely different way. “We can produce anywhere from 4,000 to 6,000 pounds of fresh produce a year, depending on what we’re growing,” Grallert says. A little replica of Fenway Farms also opened at the Boston Children’s Museum last year. Green City estimates roughly 500,000 children and adults encounter Fenway Farms every year.

Persons: Boston , Massachusetts CNN —, Benjamin Moore, ”, Chris Grallert, ” Grallert, Bob Crowley, Grallert, Chef Ron Abell, Abell, he’s, lettuces, Danielle Morgan, Samantha Bresnahan, ” Abell, they’ve, Abell’s, Nature’s, we’ve, ” Read, Haley Bergeron, John Cumberland, “ Organizations: CNN, Boston , Massachusetts CNN, Boston Red Sox, Fenway, Green City Growers, Red Sox, Fenway Park, Green City, Major League, Sox, Coors, Oracle, Boston, Boston Children’s Locations: Boston , Massachusetts, Green, Fenway, Boston, reinvigorating, Massachusetts, Colorado, San Diego, San Francisco

☆ McDonald’s and Wendy’s win false advertising lawsuit
▼ + stars: | 2023-10-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Wendy’s and McDonald’s have emerged victorious from a lawsuit that accused the fast food chains of false advertising. Major fast food chains, including Burger King, Arby’s and Taco Bell, have all been targets lately for lawsuits that allege they’re misrepresenting food in their marketing. The explosion has been largely driven by the efforts of a handful of lawyers arguing that food in ads appears more bountiful than what customers actually get. In response, the fast food chains deny the accusations. Burger King, for example, said about a similar lawsuit that “reasonable consumers viewing food advertising know” that food in ads “has been styled to make it look as appetizing as possible.”

Persons: New York CNN —, Wendy’s, Hector Gonzalez, Wendy’s didn’t, Burger, Taco, “, ” Tommy Tobin, Perkins Coie, ”, Burger King Organizations: New, New York CNN, Taco Bell, UCLA School of Law, CNN Locations: New York

☆ Jim Cramer says a drop in oil prices could signal the start of a market rally
▼ + stars: | 2023-09-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday suggested the stock market could be headed for a rally, citing a downturn in the price of oil. West Texas Intermediate , one of the three main benchmarks in oil pricing, declined more than 2%, and by Thursday's close, the major indexes saw gains. Cramer highlighted Wednesday's "intraday pivot," as a reason for optimism about a potential rally. On Wednesday, the major indexes started the day worse off but were able to come back by the end of the session, cutting their losses. To Cramer, a calendar shift can also have an effect, as September is usually a poor month for the market.

Persons: CNBC's Jim Cramer, Thursday's, Cramer Organizations: West Texas, Nasdaq, Dow Jones

☆ What is Scarborough Shoal in the South China Sea and why are China and the Philippines disputing it?
▼ + stars: | 2023-09-26 | by ( Martin Petty | ) www.reuters.com time to read: +5 min

The Philippines coastguard said the mission, approved by President Ferdinand Marcos Jr, showed its determination to maintain a presence at the shoal. Located in the middle of the South China Sea and near shipping lanes carrying an estimated $3.4 trillion of annual commerce, its position is strategic for Beijing. A landmark 2016 ruling on the South China Sea by the Permanent Court of Arbitration, which went largely in favour of the Philippines, was not tasked with establishing sovereignty. China has not acknowledged the presence of militia in the South China Sea. The Pentagon stated mutual defence commitments would be invoked over an attack "anywhere in the South China Sea" and that coastguard vessels are among those protected.

Persons: Ferdinand Marcos Jr, Rodrigo Duterte, Thomas, Marcos, Martin Petty, Sharon Singleton Organizations: SCARBOROUGH, coastguard, China's coastguard, Philippines coastguard, Guard, Philippine Coast Guard, REUTERS, WHO, China's, Mutual, Treaty, Pentagon, Thomson Locations: Philippines, South China, Beijing, Manila, China, Scarborough, Philippine, British, South, Spratly, China's, United States, Washington

☆ Burgers and tacos don’t look like they do in ads. Lawsuits are trying to change that
▼ + stars: | 2023-09-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

New York CNN —When it comes to food advertising, what you see is rarely what you get. In the ads, burgers look tall, heaped with meat and cheese, topped with golden, rounded buns. “Under this standard, a court asks whether a reasonable consumer would be misled by the product’s marketing or labeling,” he said. Lawsuits claim that burgers from McDonald's, Burger King and Wendy's don't look as they appear in ads. What you see is not what you getFor Patten, a reasonable consumer is an “average consumer.” The legal system, she said, often expect more from a reasonable consumer than she would from an average one.

Persons: James Kelly, Anthony Russo, Taco Bell, Burger, ”, Tommy Tobin, Perkins Coie, Russo, Kelly, Bonnie Patten, Spencer Sheehan, Sheehan, Katherine Frey, ” Tobin, ” Burger, “, Wendy’s, Wendy's, He’s, Patten, Patten’s, they’re, they’ve Organizations: New, New York CNN, Taco, UCLA Law, Washington Post, Getty, Starbucks, Burger King, Russo, Plaintiffs Locations: New York, Burger

☆ Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes
▼ + stars: | 2023-09-03 | by ( Dionne Searcey | Mira Rojanasakul | ) www.nytimes.com time to read: +19 min

UNCHARTED WATERS Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes When Minnesota farmers cranked up their wells in a drought, they blew through state limits. The location of the White Earth Reservation is also shown, in the upper left portion of the map. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. “There’s a lot of water in this area.”His farm is awaiting approval for two new state permits for irrigation wells.

Persons: Warren, Mike Tauber, they’ve, ”, Trevor Milbrett, Warren Warmbold, “, Mr, Warmbold, Offutt, Ellen Considine, don’t, Carlos Gonzalez, It’s, farming’s, Robert Glennon, John Nieber, Paul Minneapolis, Nieber, White, Jamie Konopacky, Allan Armstrong, Armstrong, Armstrong’s, Austin Tersteeg, Erskine, Tersteeg Organizations: R.D, Offutt, Minnesota Department of Natural, New York Times, Irrigation, Farmers, state’s Department of Natural Resources, United States Department of Agriculture, Department of Agriculture, Star Tribune, Getty, Park Rapids ., University of Minnesota, Twin, Paul Minneapolis Rochester Sandy, Paul Minneapolis, White, Department of Natural Locations: Lakes, Minnesota, R.D, Warren, Minn, Backus, Eagle Bend, United States, Midwest, Park Rapids, In Minnesota, North Dakota, America, Offutt, Twin Cities, Sandy, Duluth, Wells St, Cloud, Paul, Paul Minneapolis Rochester, Austin, Red Lake County

AQUIFERS AQUIFERS AQUIFERS WASH. MAINE MONT. MONITORING WELLS MONITORING WELLS MONITORING WELLS WASH. MAINE MONT. FLA. DECLINING WELLS DECLINING WELLS DECLINING WELLS WASH. MAINE MONT. FLA. UNCHARTED WATERS America Is Using Up Its Groundwater Like There’s No Tomorrow Overuse is draining and damaging aquifers nationwide, a New York Times data investigation revealed. Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Note: Colors depict the median trend for each site over the previous 20 years.

☆ Brazil clears bottlenecks to oust US as top corn exporter
▼ + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com time to read: +7 min

"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.

Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato

☆ Uruguay Wasn’t Supposed to Run Out of Water
▼ + stars: | 2023-08-10 | by ( Manuela Andreoni | More About Manuela Andreoni | ) www.nytimes.com time to read: +1 min

Uruguayans have been drinking, cooking and bathing with salty water for months. The longest drought the country has ever recorded left its capital, Montevideo, almost completely dry, forcing the city to add brackish water to its supplies. Water stress is a major concern all over the globe. Climate change didn’t directly cause the drought in Uruguay and neighboring Argentina, as we reported last year. But global warming was a factor in extreme heat that made the drought worse, scientists said, by increasing the loss of moisture from soil and plants.

Organizations: Times Magazine Locations: Montevideo, Iran, Cape Town, São Paulo, Brazil, Uruguay, Argentina

☆ Women’s World Cup: ‘The gap is closing’ says Jamaica manager as Reggae Girlz impress
▼ + stars: | 2023-07-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Just five days into the 2023 Women’s World Cup and many of the tournament underdogs are already making a name for themselves. On Thursday New Zealand won its first Women’s World Cup game by beating Norway. Even if results haven’t gone the way of the smaller teams, many games have been much closer than expected. “Once upon a time, the US in particular was very dominant but you see the gap is closing and the smaller nations are jumping on that bandwagon,” Donaldson added. It was the first point the Reggae Girlz had earned at a World Cup, having only played one previous tournament.

Persons: CNN —, Lorne Donaldson, ”, “, USWNT, ” Donaldson, Mark Baker, Bunny ’ Shaw, Girlz, Donaldson, Jamaica’s Deneisha Blackwood, we’ve Organizations: CNN, New Zealand, England, cohost Australia, Zambia, frontrunners France Locations: France, Norway, Haiti, Republic of Ireland, England, Thailand, Vietnam, Japan, Germany, Morocco, Jamaica, Panama, Brazil

☆ Women’s World Cup: Underdogs continue to impress. Jamaica’s manager thinks he knows why
▼ + stars: | 2023-07-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Just six days into the 2023 Women’s World Cup and many of the tournament underdogs are already making a name for themselves. The Philippines securing its first World Cup win on Tuesday was just the latest in a series of surprise results. 5 France, its first ever point at a World Cup, while New Zealand won its first Women’s World Cup game by beating Norway – before itself being on the wrong end of an upset against the Philippines. Even when results haven’t gone the way of the so-called smaller teams, many games have been much closer than expected. “The smaller nations are believing that they can get this done.”Philippines beats New Zealand in the latest surprise result on Tuesday.

Persons: CNN —, haven’t, Lorne Donaldson, ”, “, USWNT, ” Donaldson, Marty Melville, Donaldson, Jamaica’s Deneisha Blackwood, we’ve Organizations: CNN, New Zealand, Norway –, England, cohost Australia, Zambia, Getty, Filipina Locations: Philippines, Jamaica, France, Haiti, Republic of Ireland, England, Thailand, Vietnam, Japan, Germany, Morocco, New, AFP

☆ Summer Pastas for Summer Zodiac Signs
▼ + stars: | 2023-07-20 | by ( Tanya Sichynsky | ) www.nytimes.com time to read: +1 min

As Cancer season comes to a close (and a milestone birthday of my own approaches), I dedicate this week’s newsletter to the Cancers, Leos and Virgos who may have complicated feelings about their birthdays. Below are the summer zodiac signs as summery pastas — practical, comforting, a little extravagant and, just like you, worth celebrating. Cancers who crave the familiar may be especially drawn to the way this weeknight-friendly spin on eggplant Parmigiana evokes the traditional version. Much like the sun-ruled fire sign, this pasta from Ali Slagle strikes a balance between showy opulence and confident boldness. The recipe calls for canned crushed or whole tomatoes, but use peeled fresh summer tomatoes if you’re feeling fancy.

Persons: Virgos, Kay Chun, Leo ♌, Ali Slagle, Leos Organizations: Cancer

☆ Shelved port deal will test Temasek’s private push
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, July 13 (Reuters Breakingviews) - Temasek is having a bad weather week. The Singaporean investor’s wholly owned port operator PSA International is shelving plans to sell its 20% stake in CK Hutchison’s (0001.HK) port business, per Bloomberg. PSA was seeking $4 billion for its stake, a touch less than what it paid. This week, Temasek itself reported a 5.2% drop in the net value of its portfolio to $285 billion in the 12 months to the end of March, as public markets remain weak. The world’s 10th-largest sovereign investor has 53% of its portfolio parked in unlisted assets, double the level a decade ago.

Persons: CK Hutchison’s, Li Ka, China's Cosco, Breakingviews, Daga, Una Galani, Thomas Shum Organizations: Reuters, Temasek, CK, Bloomberg, Twitter, Thomson Locations: SINGAPORE, HK, Hong Kong, Singapore, China

☆ Exxon’s carbon-capture deal is pale shade of green
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

The oil titan’s $4.9 billion all-stock deal for Denbury (DEN.N) unveiled on Thursday provides a financially and strategically judicious way to capture and move carbon dioxide. The $89.75 a share is also lower than where Denbury was trading before Bloomberg reported news of a possible deal in October. Denbury says that 28% of it is “blue oil” that produces negative scope 3 emissions. Showcasing an evolving mindset while helping extract more oil is just the pale green hue that suits Exxon. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Darren Woods, Denbury, Robert Cyran, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Exxon Mobil, Exxon, Denbury, Bloomberg, Twitter, Thomson

☆ Cora strengthens Carrefour’s inflation defences
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters Breakingviews) - Carrefour’s (CARR.PA) 1 billion euros acquisition of smaller rival Cora could be seen as a consequence of the French group’s ability to navigate rocketing inflation. It will give the combined company a near 23% share of the fragmented and competitive French market, consolidating Carrefour’s leadership on its home turf. Five years ago, Carrefour and Casino had begun tentative talks for a possible merger that ultimately collapsed. If anything, Cora’s acquisition will make Carrefour a more attractive target. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cora, Daniel Kretinsky, Xavier Niel ., Pierre Briançon, Aimee Donnellan, Streisand Neto Organizations: Reuters, Carrefour, Casino, Twitter, Thomson Locations: French, France

☆ Domino’s Uber delivery is an extra topping
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 12 (Reuters Breakingviews) - Domino’s Pizza (DPZ.N) wants to stuff more pie holes. The pizza chain announced on Wednesday that customers will be able to make delivery orders through Uber Eats, sending Domino’s shares up 10% in late morning trade. At first blush that may seem an admission that Domino’s own delivery app is sputtering. The agreement with Uber Technologies (UBER.N) is exclusive in the United States at least until 2024, and it extends Domino’s reach internationally as well. By partnering with Uber, Domino’s has a better chance of getting a bigger slice of the delivery market.

Persons: Uber, Dara Khosrowshahi, that’s, Domino’s, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Uber Technologies, Twitter, Thomson Locations: United States, China

☆ EU claims win in Illumina battle, may yet lose war
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

The $30 billion genetic test maker faces a record European Union fine of 432 million euros ($476 million) for closing the $8 billion deal in 2021, ahead of regulatory approval. Absent the fact that it would have breached its own 10% of revenues cap for fines, the EU would have charged Illumina 570 million euros, according to an EU official. Even so, while the transatlantic merger saga has already seen the departure of Illumina’s chief executive and chairman, Brussels may yet win the battle and lose the war. Separately, Illumina has launched proceedings over whether the EU has the jurisdiction to opine – if it wins, then its new fine could get overturned. With U.S. courts ruling in favour of Microsoft (MSFT.O) over its Activision Blizzard (ATVI.O) deal, the Illumina saga may yet have further twists.

Persons: shouldn’t, Illumina, Rebecca Christie, George Hay, Oliver Taslic Organizations: Reuters, European, EU, U.S, Microsoft, Activision, Twitter, Thomson Locations: BRUSSELS, Brussels, China

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