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It was Dr. Scott Rivkees, the Florida surgeon general. Ron DeSantis had decided that the worst was over for Florida, he said. Mr. DeSantis had begun listening to doctors who believed the virus’s threat was overstated, and he no longer supported preventive measures like limiting indoor dining. Mr. DeSantis was going his own way on Covid. Nearly three years later, the governor now presents his Covid strategy not only as his biggest accomplishment, but as the foundation for his presidential campaign.

Persons: Deborah L, Scott Rivkees, “, ’ ”, Ron DeSantis, DeSantis, ” Organizations: White, Gov, The New York Times Locations: Florida, Covid, New York, California

☆ Meme investors could spoil AMC’s next act
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

AMC is already fighting another lawsuit over its attempt to convert preferred stock into common shares, a novel scheme to avoid getting investors’ approval for share sales. It fits with other forays since AMC became a retail-favorite meme stock – like buying into a gold miner – that seem to disregard conventional governance niceties. Attracting a rush of retail traders means there are plenty of investors to call foul. If their push against the preferred stock gambit succeeds, AMC could struggle to raise new funds, which bodes poorly for repaying its $5 billion in debt. It turns out that, for a meme stock’s final act, the audience starts throwing tomatoes.

Persons: Adam Aron, Kevin Barnes, Barnes ’, Anita Ramaswamy, Xavier Niel’s, Jonathan Guilford, Sharon Lam Organizations: YORK, Reuters, AMC, Twitter, Xavier Niel’s GAM, Commonwealth Games, Thomson

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

[1/6] A general view of the Bank of America financial center in New York City, U.S., June 26, 2023. REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - Bank of America Corp (BAC.N) is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co (JPM.N). Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans. The openings will give BofA a retail presence in 39 states, compared with JPMorgan, the largest U.S. lender, which has branches in 49 states. Holly O'Neill, Bank of America's president of retail banking, said last month that she expects good performance for the unit in the second quarter.

Persons: Brendan McDermid, Brian Moynihan, Moynihan, Aron Levine, Holly O'Neill, Saeed Azhar, Lananh Nguyen, Deepa Babington Organizations: Bank of America, REUTERS, Bank of America Corp, JPMorgan Chase &, JPMorgan, Federal Reserve, Consumer, CNN, Reuters, Bank of, Thomson Locations: New York City, U.S, Nebraska , Wisconsin , Alabama, Louisiana, Louisville, Milwaukee, New Orleans

☆ Who does inflation hit hardest? Experts weigh in on how higher prices impact households
▼ + stars: | 2023-06-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Fizkes | Istock | Getty ImagesStubborn inflation has driven households near the breaking point, but the pain of high prices has not been shared equally. The lowest-paid workers spend more of their income on necessities such as food, rent and gas, categories that also experienced higher-than-average inflation spikes. Because higher-income households spend relatively more on services, which notched smaller price increases compared with goods, they came out ahead. Middle-income households see slower wage growthBy other measures, Americans in the middle class are getting especially squeezed. watch nowEconomists' definitions of middle class vary.

Persons: Laurence Kotlikoff, Tomas Philipson, Brian Albrecht, Albrecht, Philipson, Aron Levine, Boston University's Organizations: Istock, Getty, Boston University ., White House Council, Economic, University of Pennsylvania's Wharton, Finance, International Center for Law, Economics, Congressional, Office, Pew Research Center, Bank of America Institute, Bank of, Boston, Consumer Financial, Bureau

☆ Syria's Assad boosted by return to Arab fold
▼ + stars: | 2023-05-08 | by ( Tom Perry | ) www.reuters.com time to read: +7 min

[1/3] Syria's President Bashar al-Assad addresses the new members of parliament in Damascus, Syria in this handout released by SANA on August 12, 2020. Now, as Arab states bring him back into the fold, the logic appears to have worked for him once again. In exchange for ending Syria's isolation, Arab states want action, notably towards ending trafficking of the highly-addictive and lucrative amphetamine captagon across Syria's borders towards the Gulf. The threat of a U.S. missile strike was averted when Moscow brokered a deal for Syria's chemical weapons to be destroyed by the following year. But while Assad remained a pariah to the West, Arab states which once backed his opponents began opening doors to him.

☆ Eli Lilly’s golden ticket is a regrettable winner
▼ + stars: | 2023-05-03 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

NEW YORK, May 3 (Reuters Breakingviews) - Eli Lilly’s (LLY.N) Mounjaro might turn out to be the biggest selling drug ever. The pharmaceutical giant is maximizing the diabetes treatment’s gain by using a golden ticket to speed its U.S. approval for use in a possibly bigger market, obesity. Lilly’s peak sales for treating obesity might be about 10 times as high, Jefferies analysts estimate. At the industry multiple of 5 times revenue, that would pad its $535 billion market value by $30 billion. Lilly may have secured a Willy Wonka-like golden ticket that allows its obesity drug to reach customers quicker.

☆ J&J carves itself up at a discount
▼ + stars: | 2023-04-24 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

NEW YORK, April 24 (Reuters Breakingviews) - Johnson & Johnson (JNJ.N) is paying a price to dismember itself. That’s nearly a 20% discount to rival Haleon (HLN.L), the consumer business spun off from GSK (GSK.L) last year. The drug and surgical businesses remaining with J&J are higher margin and potentially faster-growing, so perhaps the two firms will appeal to different sets of investors. Even the unknown at the former J&J company is better than the unknown elsewhere. Johnson & Johnson is in the midst of trying to settle tens of thousands of lawsuits that its talc-based products caused cancer.

☆ Leaked memo reveals Disney's new finance structure as more layoffs loom, with a reported 15% of entertainment staffers to be cut
▼ + stars: | 2023-04-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

Disney's chief financial officer, Christine McCarthy, named a new finance team pulling together staff from both Disney Entertainment and ESPN. McCarthy shared the details with staff this week, naming Bryan Castellani as the new chief financial officer of Disney Entertainment and ESPN. Under Castellani, Lukas Wickart will continue to oversee finance for direct-to-consumer streaming business Disney+, ESPN+, Hulu, and Star. Karen Sack will oversee finance for our entertainment television businesses, including TV studios and ABC News finance, marketing, and networks planning. Jeff Grenn will oversee segment consolidation for Disney Entertainment, and finance in support of Aaron LaBerge's technology organization across Disney Entertainment and ESPN.

☆ Aesop deal spreads scent of stressed M&A
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

TORONTO, April 4 (Reuters Breakingviews) - The scent of stress is wafting from the Brazilian backer of Aesop. Natura (NTCO3.SA)agreed to sell the luxury lotion maker to French cosmetics giant L’Oreal (OREP.PA) for about $2.5 billion. It offloaded the successful investment to shore up its balance sheet, an M&A motivation that probably will spread. With recessions being anticipated in a higher interest rate environment, more companies are bound to consider a similar calculus. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Ryan Reynolds flexes as corporate convert
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 20 (Reuters Breakingviews) - For Hollywood star Ryan Reynolds, dealmaking may be more lucrative than Deadpool. One more transaction like this, and Reynolds could find that he has a real future outside of the acting biz. For Mint, Reynolds has described the marketing strategy as “scrappy”, and he has done some catchy things, like appearing alongside T-Mobile’s chief executive in a video announcing the deal and leaving voicemails for customers. Showing success outside of the lifestyle category – in mobile – is validation for the actor, but a differentiating factor might have been Reynolds’ ownership stake in Mint. Converting that stake into a lucrative deal, twice, suggests that Reynolds could be more than just a pretty face.

☆ WWE girds for insider-betting fight
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 9 (Reuters Breakingviews) - Want to bet on a match where the outcome is fixed in advance? The league is in talks with U.S. state gambling regulators to legalize bets on its staged matches, according to CNBC. For WWE the number of insiders may be bigger: Writers, trainers and wrestlers might be among those with an idea of what’s in store. Overseas bettors can already wager on an upcoming six-woman tag WWE team match, the Eurovision Song Contest and Love Island 2023. Meanwhile, the WWE has put itself up for sale, so some theatrical limbering up for future revenue opportunities is a smart way to juice the price.

☆ Jamie Dimon throws Staley off fortress battlements
▼ + stars: | 2023-03-09 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

Suing former employees – in this case using an archaic-sounding doctrine that brands Staley a “faithless servant” – isn't a great look, but the bank led by Jamie Dimon has more reasons than most to defend itself. His $400 billion firm is being pursued for unspecified damages by a woman who argues that it knew of Epstein’s sex trafficking venture, and is also being sued by the government of the U.S. Virgin Islands. The bank has delivered a more than 400% total return to shareholders since Dimon took over in 2006, while talking up its “fortress” balance sheet. If JPMorgan loses either of the lawsuits in which it is a defendant, it wants Staley to share in the damages. Current or future employees might worry they too could find themselves branded a faithless servant for failing to disclose moral missteps, or having clients who fall from grace.

☆ Jamie Dimon throws Jes Staley off the battlements
▼ + stars: | 2023-03-09 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

Suing former employees – in this case using an archaic-sounding doctrine that brands Staley a “faithless servant” – isn't a great look, but the bank led by Jamie Dimon has more reasons than most to defend itself. His $400 billion firm is being pursued for unspecified damages by a woman who argues that it knew of Epstein’s sex trafficking venture, and is also being sued by the government of the U.S. Virgin Islands. If JPMorgan loses either of the lawsuits in which it is a defendant, it wants Staley to share in the damages. Current or future employees might worry they too could find themselves branded a faithless servant for failing to disclose moral missteps, or having clients who fall from grace. CONTEXT NEWSJPMorgan on March 8 filed a complaint against former executive James “Jes” Staley, for not disclosing his relations with former client and sex offender Jeffrey Epstein.

☆ M&A bankers trip over their cracked crystal balls
▼ + stars: | 2023-03-08 | by ( Liam Proud | ) www.reuters.com time to read: +7 min

The M&A pipeline generally has three components: announced deals that are almost certain to happen; announced deals that may not get over the line; and deals that have neither been announced or perhaps even conceived. Reuters GraphicsThere’s a much tighter relationship between equity markets and M&A, implying that CEOs pursue corporate marriages when their share prices are high. One common way to get around this problem is to look at the value of announced deals as a percentage of total worldwide market capitalisation. WEAKNESS IN NUMBERSUnsurprisingly, given all the uncertainty, some bankers take their pipeline estimates with an appropriately large pinch of salt. Reuters GraphicsFollow @liamwardproud on TwitterCONTEXT NEWSCompanies announced $3.6 trillion of mergers and acquisitions in 2022, according to Refinitiv, compared with $5.7 trillion in 2021.

Shunned by the West, Assad has been basking in an outpouring of support from Arab states that have normalised ties with him in recent years, notably the United Arab Emirates (UAE). On Tuesday, Saudi Arabia sent its first reported plane of aid to Assad-controlled Aleppo, a notable gesture from a Gulf state still at odds with Syria's president. 'BREAK THE SIEGE'The UAE has pledged $50 million in aid to Syria, without saying in which part of Syria it will be spent. Once a backer of Assad's foes, the UAE has been pressing other Arab states to re-engage with Damascus, according to two Gulf sources, despite opposition from its strategic ally the United States. Tunisia, which cut off ties with Syria a decade ago, has said it will strengthen relations with Damascus since the quake.

☆ Chevron’s CEO short-termism has benefits
▼ + stars: | 2023-02-13 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

That helps explain why the $330 billion oil giant is considering extending his contract beyond mandatory retirement age, according to the Wall Street Journal. Wirth faces mandatory retirement in 2025 when he turns 65, a stipulation that was in place when the company appointed him to be CEO in 2018. Chevron's operating margin last year was 18%, the highest in four decades, and the firm earned a record $35 billion. A year later, after oil prices had fallen by a third, Wirth launched a deal to buy Noble Energy on the cheap. If so, oil companies will be well served by executives who can squeeze additional pennies out of existing production, while buying potentially available rivals when they are cheap.

Damascus has long said aid to the rebel enclave in the north should go via Syria not across the Turkish border. Jordan and the UAE, which once backed Syria's opposition but have normalised ties with Assad in recent years, have sent aid to Damascus, Syrian state media has reported. WRANGLE OVER RESOURCESMoscow has long argued that delivering aid to northwest Syria from Turkey violates Syrian sovereignty. But he said aid flows must be coordinated with the government and delivered through Syria not across the Turkish border. The Damascus-based Syrian Red Crescent called for lifting of sanctions, which Syria's government has long blamed for mounting economic hardship.

☆ Climate change will become a CEO dealbreaker
▼ + stars: | 2022-12-22 | by ( John Foley | ) www.reuters.com time to read: +6 min

While StarMark Financial again delivered record earnings in 2022, my own views on climate change are no longer compatible with my duties as the CEO of a global financial firm. A Pew Research survey last year showed that respondents in nine countries including the United Kingdom, France and Spain ranked climate change as the most pressing of five threats to the country. While we believe that supporting measures that advance climate change mitigation creates value, it is clear that some large public-sector clients disagree. At the same time, some Democrat-led local governments have threatened to take business away from us if we take too mild a stance on climate risk. I believe we face the risk that climate change will prove catastrophic within our lifetimes.

☆ Who will be Wall Street’s un-American idol?
▼ + stars: | 2022-12-16 | by ( John Foley | ) www.reuters.com time to read: +8 min

Europeans have been losing the battle against Wall Street’s cozy club for a decade. Deutsche Bank has done the former. BNP has made smaller steps, buying Bank of America’s prime broking business in 2008, then Deutsche Bank’s in 2019. Even with the best intentions, European banks must contend with their own regulators, which affects their ability to take risk elsewhere. JPMorgan, Bank of America, Citigroup, Morgan Stanley and Goldman Sachs together took the top five slots for debt capital markets and merger advisory, as they also did in 2021.

☆ Amgen’s $28 bln deal is a reasonable gamble
▼ + stars: | 2022-12-12 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 12 (Reuters Breakingviews) - Biotechnology deals are always a gamble, and, on the face of it, Amgen’s (AMGN.O) $28 billion purchase of Horizon Therapeutics (HZNP.O) looks both risky and pricey. Investors in the $150 billion drug buyer should give it the benefit of the doubt. Amgen is largely buying Horizon for a drug named Tepezza, which helps a thyroid disease that affects eyesight. Sales in Alexion’s drug this year should be $7 billion, a 16% jump from where they were when AstraZeneca bought it. If Amgen similarly helps Horizon, its deal will look like a reasonable wager.

☆ UNC Charlotte updates policy to allow Sikh students to wear kirpan on campus
▼ + stars: | 2022-11-18 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +3 min

The University of North Carolina at Charlotte announced this week that it would allow Sikh students to wear a kirpan on campus, a religious article. The change comes about two months after a video was posted online showing a student who was handcuffed for carrying the ceremonial dagger. The university thanked Sikh leaders, including nonprofit organizations The Sikh Coalition and the Global Sikh Council, who provided expertise and perspective to help with the policy change. A video of the student being handcuffed was posted on the Twitter account @thatsamaan in September, and its user identified himself as the student in question. “I wasn’t going to post this, but I don’t think I will receive any support from @unccharlotte,” he tweeted along with the video.

☆ UNC apologizes for handcuffing student whose Sikh article of faith was mistaken for a weapon
▼ + stars: | 2022-09-26 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +3 min

The University of North Carolina at Charlotte has apologized after a video was posted online showing a Sikh student who was handcuffed for carrying a kirpan, a religious article that resembles a knife. “Further investigation showed the item was a kirpan, an article of faith in Sikhism.”Video of the incident was posted on the Twitter account @thatsamaan, and its user identified himself as the student in question. You want me to take the whole thing off?” the student asked. The police officer told the student to stand up and the student asked, “What are you doing to me, bro?” before the officer told him he was being detained. The Twitter user tweeted on Saturday that he did receive his kirpan back.

☆ Memoriile lui Obama: Putin - baron politic șmecher, Sarkozy - enervant, Cameron - trecut ușor prin viață
▼ + stars: | 2020-11-21 | by ( ) www.jurnal.md time to read: +2 min

David CameronConservatorul educat la colegiul Eton (al aristocrației britanice), care a fost premierul marii Britanii din 2010 până în 2016, era „urban și încrezător” și avea „încrederea ușoară a cuiva care nu a fost niciodată încercat prea greu de viață”. Obama spune că l-a plăcut pe Cameron ca persoană, dar nu ascunde că nu era de acord cu politicile economice ale acestuia. Vladimir PutinDespre Vladimir Putin, Obama spune că liderul rus îi aducea aminte de baronii politici pe care i-a întâlnit în Chicago. Obama notează că Angela Merkel a fost la început sceptică în privința lui, din cauza plăcerii lui de a ține discursuri. Recep Erdogan„Era cordial și în general îmi răspundea la solicitări”, scrie Obama despre președintele Turciei.

Persons: Obama, David Cameron, Cameron, Vladimir Putin Despre Vladimir Putin, Putin, Nicolas Sarkozy, Toulouse -, Sarkozy, Angela Merkel Cancelarul, Digi24, Angela Merkel Organizations: Eton, Securitate, ONU Locations: Britanii, Chicago, francez, Toulouse, Toulouse - Lautrec, Germaniei, demagogie, Turciei, american

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