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☆ TikTok's CEO says demands from the Biden administration for its Chinese owners to sell up won't solve security fears in the US
▼ + stars: | 2023-03-17 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The Biden administration has demanded that TikTok's Chinese owners sell their shares, or face a US-wide ban. But the app's CEO, Shou Zi Chew, says this wouldn't actually solve anything. Chew said that's because TikTok is proposing to spend billions on storing American users' data in the US by partnering with Oracle. That would also prevent any Chinese influence over which TikToks US users see, per the WSJ. "I do welcome feedback on what other risk we are talking about that is not addressed by this," Chew told the newspaper.

☆ The UK has banned TikTok on government devices — joining the US, Canada, and the EU — despite a charm offensive dubbed 'Project Clover'
▼ + stars: | 2023-03-16 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The UK has joined the EU, US, and Canada in banning TikTok on government devices. Officials ordered a security review into the potential vulnerability of sensitive data on several social media apps, and are now introducing a "precautionary ban on TikTok." "Restricting the use of TikTok on government devices is a prudent and proportionate step following advice from our cyber security experts," he added. But the latest ban comes despite TikTok's "Project Clover" – a charm offensive to convince European lawmakers that users' data will be safe. As part of the project, TikTok executives met with British policy advisers on March 6, per The Wall Street Journal.

☆ Hey, Bing, Help Me Overcome My Fear of College Basketball
▼ + stars: | 2023-03-15 | by ( ) www.nytimes.com time to read: +15 min

I’m still learning so I appreciate your understanding and patience.🙏Do you know a lot about college basketball, and do you enjoy talking about it? Why are people so obsessed about the college basketball brackets? I've never filled out a college basketball March Madness bracket, and I heard that it's virtually impossible to do completely accurately, even if you predict the winner. When filling out my college basketball bracket, should I just guess according to what team names I like the best? :)I’m afraid I can’t fill out a March Madness bracket, as I’m just a chat mode of Microsoft Bing search.

☆ Biden administration demands TikTok’s Chinese owners spin off their share or face US ban
▼ + stars: | 2023-03-15 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

CNN —The Biden administration has threatened to ban TikTok from the United States unless the app’s Chinese owners agree to spin off their share of the social media platform, TikTok acknowledged Wednesday evening. “If protecting national security is the objective, divestment doesn’t solve the problem,” TikTok spokesperson Maureen Shanahan said in a statement. But so far, there has been no evidence that the Chinese government has actually accessed TikTok user data, and no government has enacted a broader ban targeting TikTok on personal devices. TikTok has sought to address policymakers’ concerns with voluntary technical and bureaucratic safeguards that it says will help ensure US user data may only be accessed by US employees. Part of that initiative, which the company calls Project Texas, involves storing personal data with the US cloud giant Oracle.

☆ The UK is banning TikTok on government devices — joining the US, Canada, and the EU — despite a charm offensive dubbed 'Project Clover,' report says
▼ + stars: | 2023-03-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The UK will join the EU, US, and Canada in banning TikTok on government devices, per Bloomberg. TikTok execs had doubled down on efforts to convince UK policy advisers that their data is safe. But the latest ban comes despite TikTok's "Project Clover" – a charm offensive to convince European lawmakers that users' data will be safe. "While we await details of any specific concerns the UK government may have, we would be disappointed by such a move," a TikTok spokesperson said. TikTok said it was building two more data centers in Ireland and Norway to ensure some 150 million users' data in Europe is stored locally.

☆ TikTok unveils new European data security regime
▼ + stars: | 2023-03-08 | by ( Martin Coulter | ) www.reuters.com time to read: +1 min

LONDON, March 8 (Reuters) - TikTok has announced out a new data security regime, nicknamed “Project Clover”, amid growing pressure from lawmakers on both sides of the Atlantic. The European Parliament, European Commission and the EU Council recently banned TikTok from staff phones due to growing concerns about the company, which is owned by Chinese firm ByteDance, and whether China's government could harvest users' data or advance its interests. At a news briefing on Wednesday, TikTok said it would begin storing European user data locally this year, with migration continuing into 2024. That’s been our approach in the U.S., that’s been our approach everywhere,” said Theo Bertram, VP of government relations and public policy. TikTok has engaged a similar strategy in the U.S., nicknamed “Project Texas”, in an attempt to placate hostile lawmakers.

☆ TikTok Commits $1.3 Billion to Build European Safeguards
▼ + stars: | 2023-03-08 | by ( Stu Woo | ) www.wsj.com time to read: 1 min

LONDON—TikTok said it would spend about $1.3 billion a year on measures to safeguard European users, as the video app tries to assuage governments that are increasingly concerned about its Chinese parent company. TikTok executives said Wednesday that they would spend 1.2 billion euros annually on such measures, which they call “Project Clover,” an effort first reported earlier this week by The Wall Street Journal. The plans include opening two data centers in Ireland within weeks, and a third center in Norway later this year. They said data of European users, currently stored in Singapore and the U.S., will move to these three sites.

☆ TikTok's codenamed 'Project Clover' is a push to win over European lawmakers as it faces a critical US ban
▼ + stars: | 2023-03-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The visit was part of "Project Clover," which aims to convince European lawmakers that user data is safe. The codename appears to reference Ireland, where TikTok is planning a second data center. TikTok has previously said it wouldn't comply with any demand from China, and has rolled out "Project Clover" in Europe, and "Project Texas" for the US in an attempt to assure politicians. A spokesperson for TikTok told Insider the discussion on Monday was part of TikTok's regular engagement with European policymakers. The name "Project Clover" appears to reference one of the national symbols of Ireland — where it currently has one data center and plans for a second, per a company statement.

☆ TikTok Rolls Out ‘Project Clover’ to Assure Europeans on Data
▼ + stars: | 2023-03-06 | by ( Stu Woo | ) www.wsj.com time to read: 1 min

TikTok executives briefed British political advisers and other policy makers on the video app’s plan to secure the data of European users. LONDON—TikTok executives launched a charm offensive in Britain aimed at convincing politicians that the data of British users are safe, said people familiar with the matter, as a growing list of other governments restrict use of the app. TikTok executives on Monday briefed British political advisers, think tanks and other policy makers on what it described as “Project Clover,” the popular video app’s plan to secure the data of European users, the people said.

☆ Top Wall Street analysts pick these stocks for attractive returns
▼ + stars: | 2023-03-05 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

In these tough times, investors would be well advised to find stocks that are positioned to navigate a potential economic downturn. To help with the process, here are five stocks chosen by Wall Street's top professionals, according to TipRanks, a platform that ranks analysts based on their past performance. However, the company issued conservative guidance for fiscal 2023 due to the impact of high inflation on its low-to-moderate income customers. Further, he thinks that Kontoor's fiscal 2023 outlook "will likely prove conservative." Poser raised his fiscal 2023 and 2024 earnings per share estimates, reiterated his buy rating for Kontoor Brands and increased the price target to $60 from $53.

☆ How to afford the big price tag of your lifetime 'bucket list'
▼ + stars: | 2023-02-21 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

The 36-year-old public relations professional has an opportunity to check something off his life 'bucket list': Seeing his favorite band, Metallica, play live. Whether Beyonce tickets, Super Bowl weekends or dream vacations after years of COVID restrictions, our bucket lists carry big price tags that seem to be rising every year. So how can we fund our bucket lists, without being totally irresponsible? One solution for this is to save for your bucket list item in a separate account. “There is one item I see on bucket lists that is actually getting less expensive – education,” says Brandon Welch, an investment advisor in La Mesa, California.

☆ About half a billion dollars worth of cocaine — enough to service the New Zealand market for 30 years — was found floating in the Pacific Ocean
▼ + stars: | 2023-02-08 | by ( Felise Seah | ) www.businessinsider.com time to read: +2 min

Half a billion dollars worth of cocaine was discovered floating around the Pacific Ocean. A total of 81 bales of cocaine, weighing 3.2 tonnes, were intercepted by the New Zealand Police. Some of the packages carried identifiable stickers like a four-leaf clover and a Batman logo. These show that some of the packages have identifiable stickers like a four-leaf clover, and one that stood out had a Batman logo. Cocaine bales with four-leaf clover stickers.

☆ See the 12-slide presentation that a health-insurance startup used to land $58 million after its public competitors tumbled
▼ + stars: | 2023-02-08 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Angle Health wants to use tech to transform health insurance where other upstarts have failed. Angle Health raised $58 million to disrupt employer-sponsored health benefits using this pitch deck. Companies like Oscar Health, Clover Health, and Bright Health raked in investor cash on the promise that they could transform health plans with tech, and each went public in 2021 at a lofty valuation. Angle Health provided Insider with the pitch deck it used to raise $58 million in Series A funding from Portage and other investors. Here's the pitch deck Angle Health used to land a $58 million Series A.

☆ Alignment Healthcare's CEO shared 3 reasons he thinks the upstart will win in health insurance — and why it won't unravel like Bright Health
▼ + stars: | 2023-02-07 | by ( ) www.businessinsider.com time to read: +5 min

Young health insurers that went public in 2021 have bled money. Some health insurers that went public in 2021 at high valuations have struggled since then. Several young insurers have bled money as they've grown quickly. Bright Health, another Medicare Advantage insurer, came close to insolvency and had to shut down its health plans on the Affordable Care Act marketplace. Growing steadily with a narrow focusBefore the recent market slowdown, growing fast had been a common strategy for newly public health insurers and digital health broadly.

☆ The era of health insurance disruptors is over
▼ + stars: | 2023-02-02 | by ( ) www.businessinsider.com time to read: +10 min

Today, they're mostly the poster children of just how challenging it is to break into the insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderOscar, founded in 2012, and Bright, in 2015, set out to sell health plans to people buying coverage through the Affordable Care Act marketplace. Elevance Health, the parent company of Anthem health plans, is No. Health insurance remains overly complex and mind-numbingly frustrating. Established health insurers haven't been able to stem the rise in health costs, which are mostly determined by the prices for medical care.

☆ Health insurance upstarts that grew fast while bleeding money now say they want to turn a profit. They're raising premiums, exiting markets, and leveraging their size to get there.
▼ + stars: | 2023-01-13 | by ( ) www.businessinsider.com time to read: +6 min

Newly public health insurers Bright, Clover, and Oscar historically have prioritized fast growth. Now that it's become harder to raise capital from investors, the insurers Bright Health, Clover Health, and Oscar Health have shifted their strategies toward making money. Bright Health, in particular, was forced to take extreme measures that will see it cover members in just one state this year, after serving people in 17 states in 2022. Here's what Bright, Clover, and Oscar said they're doing to reach a profit, from raising the premiums of their health plans to exiting the markets they once bet big on. Clover slashed its participation in a federal programClover Health CEO Andrew Toy Clover HealthClover also slashed its footprint in a major program to bring down costs.

☆ Oscar Health CEO Mario Schlosser shares how the health-insurance upstart plans to finally turn a profit after years of losses
▼ + stars: | 2023-01-12 | by ( ) www.businessinsider.com time to read: +7 min

Oscar Health has bled money since it was founded more than a decade ago. Oscar Health, the 10-year-old health insurer, has never turned a profit. In an interview with Insider in November, Schlosser said Oscar had already done the legwork to turn a profit. Oscar is doing a better job at lowering patients' medical costs and is raising the prices of its health plans, he said. In 2013, Oscar met with outside actuaries to price its first health plans, Schlosser said.

☆ Australia to ring in 2023 with no COVID restrictions
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Dec 31 (Reuters) - Australia is gearing up to celebrate its first restriction-free New Year's Eve after two years of COVID disruptions, with more than a million revellers expected to flock to Sydney's harbourfront and watch an elaborate fireworks display. Lockdowns at the end of 2020 and a surge in Omicron cases at the end of 2021 led to crowd restrictions and reduced festivities. However, curbs on celebrations have been lifted this year after Australia, like many countries around the world, re-opened its borders and removed social distancing restrictions. A rainbow of colour will light up Sydney Harbour, with 2,000 fireworks to be launched from the four sails of the Sydney Opera House and 7,000 fireworks from more positions on the Sydney Harbour Bridge than ever before. For the first time in 12 years, fireworks will be launched from four building rooftops to frame the spectacular show, the organisers said.

☆ Inside the stunning unraveling of Bright Health, a health-insurance upstart that rocketed to an $11.2 billion valuation and then cratered as it grew too fast
▼ + stars: | 2022-12-05 | by ( ) www.businessinsider.com time to read: +11 min

Bright Health Group grew fast. "We're just starting to realize the full potential of our differentiated model, and we're excited about the future of Bright Health Group," Bright CEO G. Mike Mikan told analysts at that investor event. Bright Health is one of a handful of upstarts trying to take on the health-insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderBreaking into the health-insurance industry is tough. Bright moves to cut expensesAs losses mounted in 2021, Bright scrambled to raise capital.

☆ Health-insurance upstart Clover touted enormous revenues from a new federal program to boost its Chamath Palihapitiya-backed SPAC deal. Now it's slashing its participation after results that one analy
▼ + stars: | 2022-11-30 | by ( ) www.businessinsider.com time to read: +4 min

Clover Health bet big on a controversial new Medicare program with a huge revenue opportunity. Clover Health is slashing its footprint in a key federal program that the health-insurance upstart has bet big on since 2021. The direct-contracting program aims to lower costs for Medicare by changing up how doctors caring for traditional Medicare patients are paid. But Clover lost money during the first year of the program. This article was initially published on November 8 and has been updated with information about Clover's performance in the direct-contracting program in 2021.

She can impersonate an elusive chanteuse or an over-the-top Italian designer or make a phrase like “bubble bath” sound luxuriously burlesque. Rudolph as Donatella Versace during an "SNL" skit in 2002.

☆ Egypt’s Food Supply in Danger as Farmers Struggle to Adapt to Climate Change
▼ + stars: | 2022-11-08 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

FAYOUM, Egypt—Armyworms have ravaged Mohamed Abdel Tawab’s maize crop, the result of increasingly frequent heat waves in this central Egyptian oasis that lies to the west of the Nile. In recent years, the changing weather patterns have helped give rise to pests that have attacked his tomatoes, cucumbers, zucchinis and eggplants. Earlier this year, he tried to plant clover, but the weather was too hot and no sprouts appeared.

☆ Clover Health bet its future on a new federal program that promised enormous revenues. Now it's slashing its participation to focus on turning a profit.
▼ + stars: | 2022-11-08 | by ( ) www.businessinsider.com time to read: +3 min

Clover Health bet big on a controversial new Medicare program with a huge revenue opportunity. Clover Health is slashing its footprint in a key federal program that the health-insurance upstart has bet big on since 2021. The program, known "ACO Reach" and formerly called direct-contracting, aims to lower costs for the Medicare program by changing up how doctors caring for traditional Medicare patients are paid. Clover manages 166,432 people in the ACO Reach program, up from 61,818 a year ago, the company reported Monday. Even with the cuts in participation, Clover still expects to generate about $1 billion in annual revenue from ACO Reach, Toy said.

☆ The Fed, earnings, jobs and China: How we think about this week's deluge of data
▼ + stars: | 2022-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It is very premature, in my view, to think about or be talking about pausing our rate hikes. The news sent those stocks reliant on China for growth — Starbucks, Estee Lauder and Wynn Resorts, among many others — higher. Or bad news could just be bad news if weak data signals a recession ahead. And good news could be good news: for example, if China reopens and U.S. companies exposed to the region see a boost in demand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Maya Rudolph doesn’t need to say anything to make us laugh. Audiences around the world want to watch her perform, and only the slightest twitch of her face begets giggles. She can impersonate an elusive chanteuse or an over-the-top Italian designer or make a phrase like “bubble bath” sound luxuriously burlesque. But years ago, when it came to public-facing parts of her job—interviews, talk shows, red carpets—she would find herself unable to be funny. “It would always feel like someone was stealing my soul,” says Rudolph, 50, sitting comfortably in a velvet armchair on a late September afternoon.

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