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☆ This smiling robot has a face covered in ‘living’ skin
▼ + stars: | 2024-06-28 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

While it might look like the stuff of nightmares, this tiny robot covered in living skin could mark a step forward in the quest to make robots more human-like. It’s the work of researchers in Japan, who say they have discovered a new way to bind living skin tissue to a mechanical robotic surface. Previously, he developed a “living” robot skin — using collagen, a fibrous protein in human skin, and human dermal fibroblasts, the main cell type in connective tissue — that could be applied to a robotic finger and bend without breaking. The new method uses V-shaped holes on the robot's surface to attach the living skin securely. However, ensuring the consistency and quality of the living skin might not be so easy, says Takeuchi.

Persons: Shoji Takeuchi, ”, Takeuchi, Takeuchi isn’t, Will Jackson, ” Jackson, Hanson Robotics ’ Sophia, Grace, Yifan Wang, Wang, ” Takeuchi, Wang — Organizations: CNN, Institute of Industrial Science, University of Tokyo, Engineered Arts Ltd, Hanson Robotics ’, Nanyang Technological University, Singapore, The University of Tokyo Locations: Japan

☆ Gen Zers and millennials are willing to go on summer vacation at all costs. Literally.
▼ + stars: | 2024-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how young people are booking their summer vacations , finances be damned. AdvertisementSurveys from Credit Karma, Bankrate, and Bank of America show Gen Zers and millennials are willing to go on summer vacation at all costs… literally. Almost half of millennials surveyed (47%) were willing to take on debt to fund their travel plans, with Gen Z not far behind (42%). AdvertisementAlmost a quarter of young people surveyed by Credit Karma expected to rack up $2,000 in debt this summer. And about 10% of that group were willing to push it even further, surpassing $4,000 in summer debt.

Persons: —, Joe Biden's, Donald Trump, Rebecca Zisser, John Towfighi, Zers, millennials, Gen, it's, you'll, Credit Karma, Klaus Vedfelt, That's, Rob Chisholm, Alyssa Powell, he's, Joseph Stiglitz, Trump, Stiglitz, Justin Sullivan, Chelsea Jia Feng, ChatGPT, Mark Zuckerberg, Sundar Pichai, — livestreaming, Twitch's Dan Clancy, Tyler Le, Gigi, Sackler, Ebrahim Raisi, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Biden, Business, Credit, Bank of America, Getty, SEC, Purdue Pharma, Dua Lipa, Coldplay Locations: Amalfi, Vegas, ., Glastonbury, New York, London

President Joe Biden delivers remarks during the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. Many of the Democratic Party's top fundraisers are privately sounding the alarm after President Joe Biden's disappointing debate performance Thursday against Republican former President Donald Trump. CNBC began hearing from worried Democratic campaign donors and fundraisers less than 20 minutes into the 90-minute debate hosted by CNN. "Game over," said a longtime Democratic campaign advisor, who has been raising money for congressional leaders for over a decade and helped raise money for Biden's 2020 White House bid. Biden's campaign co-chair Mitch Landrieu told NBC News this was because the president had a cold.

Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, Biden's, He's, doesn't, Jaime Harrison, Ronald, Reagan, George W, Bush, Barack, Obama, I've, we've, Jack Tapper, Tapper, Mitch Landrieu, Landrieu, Kamala Harris, Trump, Kate Bedingfield Organizations: CNN, CNN Studios, Democratic, Republican, CNBC, Democratic National, NBC News, Patrol, Democratic National Convention, White House Locations: Atlanta , Georgia

☆ Presidential debate live updates: Biden faces Trump in Atlanta
▼ + stars: | 2024-06-27 | by ( Dan Mangan Kevin Breuninger Christina Wilkie Brian Schwartz Rebecca Picciotto Josephine Rozzelle | Dan Mangan | Kevin Breuninger | ) www.cnbc.com time to read: 1 min

President Joe Biden and former President Donald Trump are squaring off in their first debate of the 2024 White House race in Atlanta on Thursday night. NBC News Now will stream CNN's Presidential Debate live. The 90-minute debate comes as Trump faces two pending criminal prosecutions over the Republican's efforts to overturn his defeat as president in the 2020 election to the Democrat Biden. There will be no studio audience for the debate, and each candidate's microphone will be muted when it is their opponent's turn to speak. CNBC's team of politics and economics reporters will be covering the candidates, the lead-up and the debate live from Washington, D.C.; CNBC Global Headquarters in Englewood Cliffs, New Jersey; and New York City.

Persons: Joe Biden, Donald Trump, Democrat Biden, Jake Tapper, Dana Bash Organizations: White, NBC, Trump, Democrat, CNN, Washington , D.C, CNBC Global Headquarters, New Locations: Atlanta, Washington ,, Englewood Cliffs , New Jersey, New York City

☆ Bronny James picked up by the Lakers in second round of NBA draft
▼ + stars: | 2024-06-27 | by ( David K. Li | Rebecca Cohen | ) www.cnbc.com time to read: +2 min

Bronny James #0 of the Sierra Canyon Trailblazers is greeted by his father and NBA player LeBron James after defeating the the Perry Pumas in the Hoophall West tournament at Footprint Center on December 11, 2021 in Phoenix, Arizona. James was picked up by the Los Angeles Lakers, where he will join father LeBron James on the court next season, during the second round of the draft on Thursday. The first round of the NBA Draft came and went Wednesday night without Bronny James being called out at Barclays Center in Brooklyn. LeBron James has until Saturday to decide whether he wants to stay with the Lakers, where he's played since 2018-19. At the ancient basketball age of 39, Lebron James remarkably remains one of the game's most dynamic players.

Persons: Bronny James, LeBron James, James, he's, Dell, Steph Curry, Lebron James Organizations: NBA, Perry Pumas, Footprint Center, Los Angeles Lakers, Barclays Center, Lakers, University of Southern, USC, Southern Locations: Phoenix , Arizona, Brooklyn, University of Southern California

☆ Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
▼ + stars: | 2024-06-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC. President Joe Biden's Cabinet will wrap up a barnstorming tour Thursday after two weeks on the road, touting the administration's economic accomplishments ahead of the Democratic incumbent's first debate against former President Donald Trump. In the 10 days leading up to Thursday's debate, the White House organized 29 public events, featuring more than a dozen top administration officials to promote Biden's economic agenda, a White House official said in a memo announcing the blitz. Not anymore," Neera Tanden, White House domestic policy advisor, said in the release. "Thanks to President Biden's economic plan, the American economy is strong and resilient, with robust economic growth in recent quarters," she said in a speech Monday.

Persons: Joe Biden, Janet Yellen, Gina Raimondo, Joe Biden's, Donald Trump, Lael Brainard, Pete Buttigieg, Neera Tanden, Yellen, Biden's Organizations: White House, Democratic, White, National Economic, Transportation, Seniors Locations: Washington , DC, Georgia , Nevada , Pennsylvania, Michigan, White, Minnesota, American

☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

But, not all AI startups are created equal. AdvertisementBusiness Insider surveyed nine VCs who invest in AI startups at firms like Bain Capital Ventures, Flybridge, and Sapphire Ventures. Startups building AI's "picks and shovels" are a better bet than yet another LLMStep aside, OpenAI and Anthropic. In contrast, unstructured data encompasses various formats such as text documents, images, audio files, emails, social media posts, and videos. Some AI investors say they're shying away from point solutions—think online payment processing or project management—in favor of full-stack solutions.

Persons: —, Harvey, Navin Chaddha, Chip Hazard, they're, Kahini Shah, there's, Rak Garg, Garg, Shah, Lauri Moore, Moore, Chaddha, Capital's Moore, she's Organizations: Service, Accel, Business, Bain Capital Ventures, Flybridge, Sapphire Ventures, Google, Meta, Mayfield Fund, Flybridge Capital Partners, Obvious, Investors, Obvious Ventures, Foundation, Dig Ventures Locations: Mayfield, Hazard, Flybridge

☆ Sixteen Nobel Prize-winning economists warn a second Trump term would 'reignite' inflation
▼ + stars: | 2024-06-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. "While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump's," the economists wrote. "There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," wrote the group of politically progressive academics. Joseph Stiglitz, who won the Nobel Prize in 2001, led the effort to publish Tuesday's letter. "Nonpartisan researchers, including at Evercore, Allianz, Oxford Economics, and the Peterson Institute, predict that if Donald Trump successfully enacts his agenda, it will increase inflation," the economists wrote.

Persons: Donald Trump, Joe, Donald Trump's, Axios, Trump, Joseph Stiglitz, George Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric Maskin, Daniel McFadden, Paul Milgrom, Roger Myerson, Edmund Phelps, Paul Romer, Alvin Roth, William Sharpe, Robert Shiller, Christopher Sims, Robert Wilson Organizations: Federal Reserve Board, Wall Street, Evercore, Allianz, Oxford Economics, Peterson Institute Locations: China

☆ Aston Martin to start delivery of Alonso-inspired race car Valiant in fourth quarter
▼ + stars: | 2024-06-25 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. The company will produce only 38 units of the Valiant, a vehicle designed by the Aston Martin team alongside Formula One driver and two-time world champion Fernando Alonso. Alonso is one of Aston Martin Aramco Formula One Team's drivers, alongside Stroll's son, Lance. Aston Martin Racing and Aston Martin Lagonda are distinct entities. New Tab , opens new tab

Persons: Aston Martin DBX, Aston Martin, Rebecca Naden, Fernando Alonso, Lawrence, Valiant, Alonso, Aston, Stroll's, Lance, Aston Martin Lagonda, Yadarisa, Devika Organizations: REUTERS, Aston, Formula, Reuters, Aston Martin Aramco, One, Aston Martin Racing, Thomson Locations: Barry , Wales, Britain, British, Saudi, Bengaluru

☆ Venture firms could be the latest target for AI disruption, and that's not the only threat to VCs
▼ + stars: | 2024-06-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .

Persons: —, VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago

☆ Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden
▼ + stars: | 2024-06-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot. As part of its new actions, Treasury will provide $100 million over the next three years to finance affordable housing projects. Housing costs in particular, which make up some of the largest portions of consumer spending, have remained stubbornly high even as other sectors have cooled down. Biden has tried to punt the responsibility of high housing costs on corporate landlords, accusing them of "rent gouging," keeping consumer rents artificially high even as their own costs have come down.

Persons: Janet Yellen, Joe Biden, Donald Trump, hunkers, Camp David, Yellen, Biden, Adrianne, Pete Buttigieg Organizations: Camp, Housing, Urban, Adrianne Todman, Biden, White, Apartment Association, NAA Locations: Fairfax , Virginia, Minneapolis, Minnesota

☆ Why Mount Rainier is the US volcano keeping scientists up at night
▼ + stars: | 2024-06-23 | by ( Katie Hunt | ) edition.cnn.com time to read: +10 min

Yet, more than Hawaii’s bubbling lava fields or Yellowstone’s sprawling supervolcano, it’s Mount Rainier that has many US volcanologists worried. “Mount Rainier keeps me up at night because it poses such a great threat to the surrounding communities. Mount Rainier, a snowcapped volcano, looms over Puyallup Valley near Orting, Washington. Mount St. Helens, which cataclysmically erupted in May 1980, ranked as second most hazardous before Mount Rainier in third place. USGS Cascades Volcano Observatory geophysicist Rebecca Kramer works on station PR05, part of the Mount Rainier lahar detection network.

Persons: Liev Schreiber ”, Mount Rainier, ” Jess Phoenix, Liv Schreiber, ”, Ed Ruttledge, Rainier, Seth Moran, Colombia’s Nevado, … you’ve, ” Bradley Pitcher, ” Pitcher, Mount, del Ruiz, “, Hawaii’s, Jacques Langevin, Sygma, Moran, ” Moran, Rebecca Kramer, Rob Mertens, Dergan, Roald Reitan, CNN’s, ” Reitan Organizations: CNN, Sunday, Union of Concerned, Mount Rainier, Geological Survey, . Geological, Colombia’s, Columbia University, Geologists, Mount, Helens, Washington State Fairgrounds, Mount Rainier . U.S . Geological Locations: Mount, Washington, Rainier, Tacoma, South Seattle, Mount Rainier, Pacific, Puyallup, Orting , Washington, Vancouver , Washington, Ruiz, Armero, ”, Mount St, Helens, Colombia, Puget Lowlands, Valley, Alder, Mount Rainier . U.S, Sumner, Bonney, Orting, White, Carbonado

☆ Video shows wounded Palestinian man strapped to Israeli military jeep as IDF says soldiers violated protocol
▼ + stars: | 2024-06-23 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

The Israel Defense Forces strapped a wounded Palestinian man to a jeep during a raid. The UN Special Rapporteur on the occupied Palestinian territories said it was "human shielding in action." AdvertisementThe Israel Defense Forces (IDF) said some of its soldiers violated protocol by strapping a wounded Palestinian man to the front of a military jeep, Reuters reported. "The conduct of the forces in the video of the incident does not conform to the values of the IDF. AdvertisementFrancesca Albanese, the United Nations Special Rapporteur on the occupied Palestinian territories, said the incident was "human shielding in action."

Persons: —, strapping, Francesca Albanese, Israel's Organizations: Israel Defense Forces, IDF, UN, Service, Reuters, Palestine Red Crescent Society, Business, Crescent, West, United Nations, UN Office, Humanitarian Affairs, West Bank, Health Ministry Locations: Palestine, Jenin, West Bank, Wadi Burqin, Israel, Gaza

☆ Trump says he proposed a 'migrant league of fighters' to UFC head Dana White: 'It's not the worst idea I've ever had'
▼ + stars: | 2024-06-23 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Donald Trump said he proposed a "migrant league of fighters" to UFC president Dana White. Trump shared his idea at the Faith and Freedom Coalition's conference in Washington. "It was a joke," Dana White said. AdvertisementDonald Trump told an audience on Saturday that he had pitched a "migrant league of fighters" to the head of the Ultimate Fighting Championship (UFC), Dana White. "Did anyone ever hear of Dana White?"

Persons: Donald Trump, Dana White, Trump, — Organizations: UFC, Service, Business Locations: Washington

☆ Trump previews debate attacks against Biden's economy days before candidates face off
▼ + stars: | 2024-06-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Former President Donald Trump on Saturday gave a brief glimpse of the ammunition he is loading up against President Joe Biden's handling of the economy ahead of the first presidential debate next week. On inflation specifically, Trump foreshadowed a tactic he said he might use at the upcoming debate against Biden on June 27. Maybe I should save it for the debate," Trump said moments before taking out a miniature box of Tic Tac candies and holding a regular sized box next to it. But I will end the Biden inflation nightmare." But something like Trump's Tic Tac stunt will not be permitted at the Thursday debate where props and pre-written notes are prohibited.

Persons: Donald Trump, Joe Biden's, Trump, Biden, gesturing, Harris, Sarafina Chitika Organizations: U.S, Republican, Saturday, Freedom Coalition, Biden, Federal Reserve, Social, Social Security Locations: Racine , Wisconsin, U.S

☆ Insider Today: Making junk food healthier
▼ + stars: | 2024-06-22 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Kylie Kelce and her husband, y'know, the former Philadelphia Eagles power player Jason Kelce, are outnumbered at home. Now, he's on a mission to develop new recipes for ultra-processed meals in the hopes they'll be healthier. Combine two steps with these 10 face moisturizers with SPF — and skip burned lips with a good SPF lip balm. More of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Kylie Kelce, y'know, Jason Kelce, Ronnie Chua, Skip, Noah K, Murray, Michael Conroy, Jose A, Bacete, Tyler Le, Caitlin Clark, Clark, she's, Eminem, Darren Robb, Jenny Chang, Rodriguez, Chelsea Jia Feng, Kevin Hall, Hall wasn't, they're, Abanti Chowdhury, Taylor Swift, Scooter Braun, Max docuseries, Swift, Braun, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Philadelphia Eagles, Business, Mount, Getty, BBC Locations: Old Montreal, Quebec, Canada, Venice, Mount Fuji, Halkidiki, Thessaloniki, Paris, Montreal, Idaho, Maryland, Iowa, BBC America, New York, New York City, Chicago

☆ Russia launches 'massive' attack on Ukraine's power grid, the 8th in just 3 months, Ukraine's energy ministry says
▼ + stars: | 2024-06-22 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Russia launched a "massive" attack on Ukraine's power grid overnight. This latest attack marks the eighth since March, Ukraine's energy ministry said. AdvertisementRussia launched a "massive" attack on Ukraine's power grid overnight as it continues to target the country's energy infrastructure, Ukraine's energy ministry announced on Telegram. The latest attack marks the eighth time Russian forces have targeted Ukraine's power grid since March, the ministry added. Ukraine's air force said Russia launched 16 missiles and 13 drones in the attack, which targeted a number of different regions.

Persons: — Organizations: Service, Business Locations: Russia

☆ Seine River in Paris still too polluted for Olympic events as opening ceremony looms
▼ + stars: | 2024-06-22 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

The Seine River is too polluted for swimming events at the Paris Olympics, city officials said. Paris invested $1.5 billion to clean the Seine, but heavy rainfall increased pollution levels. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDespite a massive cleanup effort, Paris' Seine River remains too polluted to host swimming events for the upcoming Olympic Games, city officials have said. "Samples from the Seine do not meet the standards we will have this summer," Paris region official Marc Guillaume added on Friday.

Persons: —, Marc Guillaume Organizations: Paris, Service, AFP, Business Locations: Paris, Seine

☆ SIRO, One Za’abeel: Dubai’s ‘first fitness hotel’ is taking wellness tech to the next level
▼ + stars: | 2024-06-21 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +8 min

“The industry is evolving,” says Desmond Cawley, hotel manager at SIRO, One Za’abeel. This kind of light therapy treatment has its roots in NASA’s experimentation with red light therapy in the 1990s to boost plant growth in space and help heal wounds in astronauts. Rebecca Cairns/CNNEven at SIRO, with all its cutting-edge tech, Cawley has observed a surge of interest in mindfulness activities like meditation. Of course, at SIRO, there’s even a high-tech alternative to this: “vibroacoustic therapy,” the sci-fi equivalent of a gong bath. Tech to help you disconnect might seem excessive, but for SIRO, the integration of health data is the future of wellness, providing guests with a data-driven, personalized wellness program.

Persons: ”, Desmond Cawley, SIRO, Dubai’s, Adam Peaty, Ramla Ali, Cawley, it’s, Rebecca Cairns, Boka, “, Beth McGroarty, that’s, ” McGroarty, SIRO isn’t, McGroarty, —, there’s Organizations: CNN, AC Milan football, Kerzner, Global Wellness Institute, bros, Equinox Locations: Dubai, Montenegro, New York City, SIRO, Cryotherapy

☆ The Opaque Industry Secretly Inflating Prices for Prescription Drugs
▼ + stars: | 2024-06-21 | by ( Rebecca Robbins | Reed Abelson | ) www.nytimes.com time to read: +1 min

And they are driving up drug costs for millions of people, employers and the government. The three largest pharmacy benefit managers, or P.B.M.s, act as middlemen overseeing prescriptions for more than 200 million Americans. They are owned by huge health care conglomerates — CVS Health, Cigna and UnitedHealth Group — and are hired by employers and governments. The job of the P.B.M.s is to reduce drug costs. Most Americans get their health insurance through a government program like Medicare or through an employer, which pay for two different types of insurance for each person.

Organizations: CVS, New York Times

☆ Overpaying for Medicine
▼ + stars: | 2024-06-21 | by ( Reed Abelson | Rebecca Robbins | ) www.nytimes.com time to read: +1 min

But there’s another reason: middlemen known as pharmacy benefit managers, or P.B.M.s. But in their quest for higher profits, they are quietly driving up prescription drug costs. Your pharmacy benefit manager is often invisible to you unless you’re having trouble filling a prescription. (You probably rely on one of the big three: CVS Health’s Caremark, Cigna’s Express Scripts or UnitedHealth Group’s Optum Rx.) Today, we published a story about these companies, how they affect drug spending and how they amassed so much control with so little transparency.

Persons: you’re Organizations: Cigna’s

☆ The Everything Guide to Partying (Without Regrets)
▼ + stars: | 2024-06-21 | by ( George Gurley | Carson Griffith | ) www.nytimes.com time to read: +22 min

And don’t ask who else is coming. Romilly Newman, chef, food stylist, social media personality Don’t bring a guest to a seated dinner. Raul Tovar/Houses & Parties Rebecca Gardner Please don’t ask people to take off their shoes when entering your apartment. Bronson van Wyck Gosh, I don’t think you can avoid certain topics in 2024. But don’t think you’re décor.

Persons: Ivy Getty, Rufus Wainwright, We've, Lang Phipps, Kate Upton, Illa Gaunt, Rebecca Gardner, William Laird, Sarah Harrelson, Jen Rubio, Jason Sean Weiss Sarah Harrelson, Alex Hitz, Ariel Arce, Larry Milstein, Eat, Maneesh, “ I’m, Wes Gordon, Lizzi Bickford, Smile, Tefi Pessoa, Daisy Prince, There’s, “, Kristy Hurt, headhunter, Kendall Werts, Don’t, Jorn Weisbrodt Rufus Wainwright, Harry Hurt III, Liz Lange, Athena Calderone, Jennifer Gilbert, Kyle Hotchkiss Carone, it’s, you’ve, you’re, ”, Krista Schlueter, The New York Times Molly Jong, Gary Jackson Bronson van, —, Laila Gohar, Susan Gutfreund, it’ll, Josh Flagg, somebody’s, Bronson van Wyck, Max Tucci, Sara Ruffin Costello, David Sedaris’s, Steven Badius, Kyle Hotchkiss, Kendall Werts “, It’s, Truman Capote, Jennifer Gilbert Don’t, Romilly Newman, Raul Tovar, don’t, Emily Post, ” They’re, Jobe, Lela Rose, ” Lizzi Bickford, Paloma Sandoval, Elsie Richter, Whitney, I’m, Zibby Owens, Molly Jong, That’s, Yana Paskova, The New York Times Harry Hurt, Elise Taylor, Francis Hauert, Doris Hauert, Jana Platina, Plum Sykes, Putin, Julie Reiner, Karsten Moran, Jennifer Gilbert I, Ken Fulk, Nobody, Giselle, Emma Gwyther, The New York Times Kendall Werts, Sedi, Nikki Haskell, Andy Warhol, Richard Weisman, Patricia Altschul, Amy Sacco, Hunter McRae, The New York Times Patricia Altschul, Dorothy Parker, Joey Wolffer Joey Wölffer, they’re, now’s, Rufus Wainwright I’m Organizations: Yorker, The New York Times, Trump, Biden, The New York, Google Locations: Converse, Uggs, Gardens, East Hampton, N.Y, New York, Gary Jackson Bronson van Wyck, we’ll, Delmonico’s, Europe, stow, someone’s, New Hampshire, Ukraine, Israel

☆ What to Do if You’re Overpaying for Prescriptions
▼ + stars: | 2024-06-21 | by ( Reed Abelson | Rebecca Robbins | ) www.nytimes.com time to read: 1 min

If you’ve ever had trouble getting a prescription drug, chances are you’ve run into a pharmacy benefit manager. These companies, known as P.B.M.s, play a crucial but often hidden role in deciding which drugs you can get and how much you will personally have to pay. They are middlemen in the maddeningly complex American health care system, working on behalf of your employer or government insurance programs like Medicare, which cover most of the costs of prescription drugs. is to save money on your medications. But The New York Times found that the three biggest P.B.M.s are often making you pay more than you should.

Persons: you’ve Organizations: New York Times

☆ Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10%
▼ + stars: | 2024-06-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla CEO Elon Musk sent an email to "everybody" that day. He told employees, "Over the next few weeks, Tesla will be doing a comprehensive review to provide stock options grants for exceptional performance." In a filing for the fourth quarter, Tesla said its employee head count worldwide at the end of December was 140,473, a number that represents salaried and hourly staffers. At around 121,000, that suggests Tesla has reduced overall headcount by at least 14% since the end of 2023. For the first quarter, Tesla reported a 9% drop in annual revenue, the biggest decline since 2012.

Persons: X Elon Musk, Mark Read, Elon Musk, Tesla, Musk, We've, Rebecca Tinucci Organizations: Lumiere Theatre, Cannes Lions, CNBC, Tesla, Reuters, Bloomberg, Nasdaq Locations: Cannes, France, China

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