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☆ ConocoPhillips is buying Marathon Oil in $22.5 billion deal
▼ + stars: | 2024-05-29 | by ( Mark Thompson | ) edition.cnn.com time to read: +2 min

ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. Shares of Marathon (MRO) were up more than 10% in premarket trade, while Conoco (COP) stock was down about 2%. “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory,” Ryan Lance, ConocoPhillips CEO, said in a statement. Until 1962, Marathon Oil was called The Ohio Oil Company, which was founded in 1887 and was bought two years later by John D. Rockefeller’s Standard Oil.

Persons: Hess, ” Ryan Lance, John D, Lee Tillman, ” Tillman Organizations: London CNN, Big Oil, ConocoPhillips, Oil, Marathon Oil, Occidental, Diamondback Energy, Endeavor Energy Partners, Marathon, Financial Times, Devon Energy, Ohio Oil Company Locations: Conoco, Houston, multibillion

☆ George Clooney and Brad Pitt reunite in action-packed ‘Wolfs’ trailer
▼ + stars: | 2024-05-29 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Banter, comedy, action, Clooney and Pitt. Former co-stars and real-life friends George Clooney and Brad Pitt become reluctant partners when they are both hired as fixers for the same job in the new trailer for the upcoming movie, “Wolfs.”The Apple Studios movie also stars Amy Ryan, Austin Abrams and Poorna Jagannathan. Prior to the first full trailer, a teaser for the movie showed Clooney and Pitt sitting quietly in a car together. WOLFS – Official Trailer (HD)In the trailer, Clooney’s character is called to dispose of a body. Pitt arrives nexts to discover he was sent to deal with the same problem, then finds drugs complicating the matter even more.

Persons: Clooney, Pitt, We’re, George Clooney, Brad Pitt, Amy Ryan, Austin Abrams, Poorna Jagannathan, Joel, Ethan Coen’s “, Steven Soderbergh’s “, WOLFS, ” Clooney, nexts, Jon Watts Organizations: CNN, Apple Studios Locations: ”

☆ The data center boom is leading to a power crunch. These stocks are ahead of the curve, TD Cowen analysts say
▼ + stars: | 2024-05-29 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Several stocks are well-positioned to benefit from any power supply bottlenecks resulting from rapid growth in data centers, according to 11 analysts at TD Cowen who compiled a 169-page report. As a result, they're building data centers where power is available, investing in transmission lines and exploring the use of nuclear energy . Brookfield Renewable Partners , an international renewable power producer and developer, is another beneficiary of the data center boom. "The recently signed framework agreement... is a clear example of BEP's exposure to corporate [power purchase agreement] momentum associated with data center demand. That will contribute to the energy supply needed to power data centers.

Persons: Cowen, Michael Elias, Elias, FactSet, TD Cowen, Sean Steuart, it's, Cowen's David Deckelbaum, Coterra Organizations: Amazon, Oracle, Digital Realty Trust, Digital Realty, Digital, Brookfield Renewable Partners, Microsoft, Brookfield, NuScale Power Corp, Reactor, Regulatory, Energy, Coterra Energy Locations: Northern Virginia, Silicon, Tuesday's, U.S, Europe, Brookfield, Appalachia

☆ Nasdaq notches record close above 17,000
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNasdaq notches record close above 17,000Barbara Doran, BD8 Capital Partners CEO, and Adam Crisafulli, Vital Knowledge founder, join 'Closing Bell Overtime' to talk the day's market action as the Nasdaq hits a record close.

Persons: Barbara Doran, Adam Crisafulli Organizations: BD8 Capital Partners, Vital Knowledge, Nasdaq

☆ Stocks making the biggest moves midday: GameStop, U.S. Cellular, Nvidia, Norwegian Cruise Line and more
▼ + stars: | 2024-05-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday: GameStop — Shares jumped nearly 23% following the video game retailer's announcement on Friday that it made about $933 million from a stock sale. U.S. Cellular — Shares added 7% after the telecom company announced T-Mobile will acquire its wireless operations and 30% of spectrum assets for $4.4 billion. T-Mobile was up less than 1%, while Telephone and Data Systems , which owns 84% of U.S. Cellular, slipped 2%. Norwegian Cruise Line — The cruise stock rose 3% after an upgrade to buy from neutral at Mizuho. Zscaler — The cybersecurity company shed nearly 4% following a downgrade at Wells Fargo to equal weight from overweight.

Persons: Agios, vorasidenib, —, Duolingo Max, Semler, Elon, Zscaler, Airbnb, Eli Lilly, Macheel, Pia Singh, Hakyung Kim, Jesse Pound Organizations: GameStop, . Illinois, U.S, Cellular, Mobile, Telephone, Data Systems, U.S . Cellular, . Food, Drug, Pharmaceuticals, Royalty Pharma, Nvidia, Cruise, Mizuho, Sarepta Therapeutics, RBC Capital Markets, RBC, Sea, Reuters, —, Energy Capital Partners, Wedbush, FDA Locations: U.S, Norwegian, Wells

☆ Super Micro Computer shares were choppy after Nvidia earnings. Here's where analysts see it going
▼ + stars: | 2024-05-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Super Micro Computer emerged as an investor darling early this year, as Wall Street unearthed the stock, driving it higher with gains that rivalled even Nvidia's. After Nvidia reported blockbuster earnings last Wednesday, Super Micro's shares were rocky again. The prominence of data centers in the AI boom is another tailwind for Super Micro, BofA noted, given the cooling needs of such centers. BofA reiterated its buy rating on Super Micro, giving it a price target of $1,090, or potential upside of about 23%. In a May 20 note, JPMorgan said it has an overweight rating on Super Micro.

Persons: BofA, Supermicro, Paul Meeks, Meeks, JPMorgan, — CNBC's Michael Bloom Organizations: Micro, Super, Nvidia, Wall, Portfolio Management, CNBC, JPMorgan, Intel, AMD Locations: United States

☆ How to Reverse America's Urban Doom Loop: Use Abandoned Steam Pipes
▼ + stars: | 2024-05-28 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

Instead, it's drawing a feed of blistering, high-pressure, vaporized water from a century-old loop of steam pipes that runs beneath the city's streets. Like dozens of cities, New York has a loop of steam pipes under its streets that could help reverse the urban doom loop. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesIn July, Vicinity is installing what will be the nation's first zero-carbon urban steam loop. AdvertisementThe most convincing evidence that steam loops make economic sense comes from who's getting into the district-energy game. Meaning: Can we use steam loops to fix the urban doom loop before the climate doom loop dooms us all?

Persons: I've, Nobody, Francisco, Kevin Hagerty, Lindsey Nicholson, Blake Ellis, Burns, McDonnell, Tim Danz, it's, Danz, Hagerty, Decarbonizing, COVID, Costa Samaras, They'll, Adam Rogers Organizations: California, Vicinity Energy, Getty, Cal, Antin Infrastructure Partners, KKR, Scott Institute for Energy, Innovation, Carnegie Mellon, Business Locations: Francisco, California, New York City, Boston, Washington, New York, England, Chicago, Miami, San Diego, Portland, Milwaukee

☆ Starbucks is set to resume union negotiations as it confronts issues at its stores
▼ + stars: | 2024-05-28 | by ( Kate Rogers | ) www.cnbc.com time to read: +7 min

Spencer Platt | Getty ImagesWhen Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs — courtesy of the company's own CEO. Narasimhan, in prepared remarks to Wall Street analysts, cited some of the challenges that union workers have been highlighting in their bid for better working conditions. For Workers United, the union behind the Starbucks organizing, his admission that more could be done was promising. Starbucks and the union are meeting to continue working on the framework that will inform every single-store contract moving ahead. There has been another call for change at Starbucks stores that may carry weight at the negotiating table.

Persons: Spencer Platt, Laxman Narasimhan, we're, Narasimhan, CNBC's, Kevin Johnson, baristas, Michelle Eisen, Eisen, we've, Howard Schultz, Schultz, Howard Organizations: Getty, Starbucks, Wall Street, U.S, Workers United, Staffing, CNBC Locations: New, Buffalo , New York, Buffalo

☆ Target slashed this year's Pride collection after last year's backlash, leaving some LGBTQ+ insiders feeling alienated
▼ + stars: | 2024-05-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, May 14th, members of Target's LGBTQ+ employee resource group logged on for a much-anticipated virtual meeting to preview the 2024 Pride collection, two council members told Business Insider. Target's online Pride collection on May 28. But late last May, conservative protesters took aim at Target's Pride collection, falsely claiming the merchandise was "Satanic" and sexualized minors. However, the two Pride Council members and multiple LGBTQ+ vendors who worked on past Pride collections told BI they feel the company hasn't done enough to rebuild its relationship with its LGBTQ+ partners over the past year. AdvertisementOne of the employees involved in the Pride Council told BI that a lot of LGBTQ+ people, herself included, joined Target specifically because of its stated support for trans and queer rights.

Persons: —, Brand Management Carlos Saavedra, Dominick Reuter, Erik Carnell, hasn't, Hayley Marzullo, Marzullo, Leslie Garrard, Garrard Organizations: Service, Business, Brand Management, Pride +, Council, Target, Pride Council, Christian Right, BI Locations: —

☆ Upward pressures on inflation will not go away anytime soon, says Strategas' Jason Trennert
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUpward pressures on inflation will not go away anytime soon, says Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, the Fed's rate path, and more.

Persons: Strategas, Jason Trennert Jason Trennert Organizations: Strategas Research

☆ A complete guide to asking your boss for a sabbatical, according to an employment lawyer
▼ + stars: | 2024-05-27 | by ( Emma Magnus | ) www.businessinsider.com time to read: +7 min

A sabbatical is a break from work, usually for a defined time period. Check whether your company has a sabbatical policyIf your company already has a sabbatical policy, you should follow it. Explain to your boss how the sabbatical can benefit them upon your return, especially if it's being funded. Aim highYou can request a paid sabbatical in the first instance unless your company has a contrary policy or practice. Clearly, a paid sabbatical is more attractive to the employee, but the employer may be more willing to support an unpaid sabbatical, given the cost to the company.

Persons: —, Claire Brooks, you'll, it's, Emma Magnus Organizations: Service, Partners, Business Locations: Araon, England

☆ I'm an employment lawyer. Here's everything you need to know about asking for a break from work.
▼ + stars: | 2024-05-27 | by ( Emma Magnus | ) www.businessinsider.com time to read: +7 min

This is an as-told-to essay based on a transcribed conversation with Claire Brook, an employment specialist solicitor at Aaron & Partners in England. A sabbatical is a break from work, usually for a defined time period. Prepare a business casePrepare a business case for the career break to present to your employer. Aim highYou can request a paid sabbatical in the first instance unless your company has a contrary policy or practice. If that is unacceptable to your employer, consider whether an unpaid sabbatical would work for you.

Persons: Claire Brook, you'll, it's, Emma Magnus Organizations: Service, Aaron & Partners, Business Locations: England

☆ Ozempic doesn't make everyone thin. That opens up an opportunity for some stocks
▼ + stars: | 2024-05-27 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +7 min

Or, in other cases, it can open the door to new options for the treatment of obstructive sleep apnea. Treating obesity and addressing sleep apnea Sleep apnea is a serious sleep disorder that results in interrupted breathing, preventing patients — and even their sleeping partners — from getting restful and restorative sleep. Obstructive sleep apnea, the most common form, occurs when muscles in the throat relax and collapse preventing air flow. Before qualifying for the device, patients usually need to have tried treatment with a CPAP machine and an oral device and been unsuccessful. He downgraded Inspire shares to hold at the beginning of the year due to this uncertainty he was anticipating.

Persons: Eli Lilly's Zepbound, Anthony Petrone, Medical's, Eli Lilly, Tim Herbert, Zepbound, Herbert, FactSet, Petrone, UnitedHealth, Jonathan Block Organizations: Novo Nordisk's, Mizuho Securities, CNBC, Systems, Inspire, American Diabetes Association, Drug Administration, National Institutes of Health, BMI Locations: U.S

☆ The Olympics is reportedly losing its largest sponsor over concerns the IOC is not doing enough to support the athletes
▼ + stars: | 2024-05-27 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

Toyota will reportedly end its $835 million sponsorship with the IOC after Paris 2024. Toyota is said to be dissatisfied with a lack of support for Olympic athletes. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . According to a report from Japan's Kyodo News, Toyota will end its sponsorship contract with the International Olympic Committee (IOC) after this year's games in Paris.

Persons: — Organizations: Toyota, IOC, Olympic, Service, Japan's Kyodo, International Olympic Committee, Business Locations: Paris

☆ My ex and I had a nesting divorce. We all lived in the house during the week and alternated staying at an apartment on weekends.
▼ + stars: | 2024-05-26 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +5 min

At the time, we were living in a large house with our three children, the youngest of whom was 6. We decided to try nestingSince the house was large, we started by taking different bedrooms in the house and splitting our time with the kids. Related storiesDuring the week, when we were both staying in the large house in different bedrooms, we hardly saw each other, but when we did, we were very amicable with one another. Most of their friends either had married parents who lived together, or divorced parents who lived separately. AdvertisementThey also had to move out of this very large home they'd lived in since babies, into two smaller houses.

Persons: Mitzi Campbell, — Organizations: Service

☆ Reebok Isn’t a ‘Hobby’ for Shaquille O’Neal
▼ + stars: | 2024-05-26 | by ( Scott Cacciola | ) www.nytimes.com time to read: +1 min

Mr. Krinsky told his audience that Shaquille O’Neal, the new president of Reebok’s soon-to-be-resuscitated basketball division, had been hoping to attend. But in lieu of being there in person, Mr. O’Neal had sent along a prerecorded video message. But as soon as the video ended, Mr. O’Neal appeared in person — surprise! He greeted the crowd and soon joined Mr. Krinsky for a Q. and A. that the chief executive figured would be light and breezy. But Mr. O’Neal, as he often does, had other plans.

Persons: Todd Krinsky, Krinsky, Shaquille O’Neal, Reebok’s, O’Neal Organizations: Reebok, Artists, Humanity Locations: Boston, Atlanta

☆ Bipartisan congressional delegation visits Taiwan following days of Chinese military drills around island
▼ + stars: | 2024-05-26 | by ( Avery Lotz | ) edition.cnn.com time to read: +3 min

CNN —House Foreign Affairs Committee Chairman Michael McCaul and a bipartisan delegation of lawmakers arrived in Taiwan on Sunday following the election of the island’s new president and after days of Chinese military drills. The US will continue to stand by our steadfast partner and work to maintain the status quo across the Taiwan Strait. US officials condemned the drills, with the State Department urging the Chinese to “act with restraint.”Two years ago, former House Speaker Nancy Pelosi visited the island, marking the first time a US House speaker had traveled to Taiwan in 25 years. Her visit was met with days of large-scale military drills and warnings of a “severe impact” on US-China relations from the Chinese government. In April 2023, then-House Speaker Kevin McCarthy similarly defied threats from China, presenting a united front with then-President Tsai Ing-wen in a California meeting.

Persons: Michael McCaul, Lai Ching, China’s, Putin, Xi, ” McCaul, Xi Jinping, ”, Nancy Pelosi, Kevin McCarthy, Tsai Ing, “, Antony Blinken Organizations: CNN — House Foreign, Communist Party, US, Taiwan, House Foreign Affairs Committee, ” CNN, State Department Locations: Taiwan, Beijing, Ukraine, Israel, Iran, “ Taiwan, Taiwan Strait, America, Asia, China, California

☆ We're millennial brothers and business partners who left San Francisco's tech bubble for the Midwest manufacturing scene. We never would have been able to afford to launch our startup in California.
▼ + stars: | 2024-05-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

We lived in San Diego for a few years after college, and then we moved to San Francisco in 2018. Matine: San Francisco is amazing. But San Francisco was apocalyptic. We had a three-story, four-bedroom place for half the price of our condo in San Francisco. The facility we're currently in is only a little more expensive than my rent in San Francisco, and this is 20,000 square feet.

Persons: —, John Yuksel, Matine Yuksel, I've, He's, Matine, Francisco, COVID, Beltways, John, Matine Yuksel John, There's, It's Organizations: Service, Business, Walmart, Apple Locations: San Francisco, Dubuque , Iowa, Cincinnati, Northern Kentucky, Arizona, San Diego, Francisco, Istanbul, Midwest, Iowa, Dubuque, Mississippi, Mount Adams, It's, California, Tucson

☆ For Millennials, Living Alone Is Status Symbol Milestone
▼ + stars: | 2024-05-25 | by ( Juliana Kaplan | Rosalie Chan | ) www.businessinsider.com time to read: +14 min

That's helping establish a new millennial milestone for some: Ditching roommates, moving out from the family home, and landing on living alone. Business Insider's analysis of American Community Survey microdata from IPUMS found that 10.5% of millennials lived alone in 2022. Per BI's analysis of American Community Survey data via IPUMS, 16% of millennials lived with at least one parent as of 2022. (The data doesn't specify if that means they're living with their parents or if their parents are living with them.) Subsidized solo livingSome lower-earning millennials are able to get assistance reaching the solo-living milestone — but it's not always easy.

Persons: Jess Munday's, Jess Munday's San Francisco, Munday, " Munday, I'm, it's, IPUMS, millennials, Bella DePaulo, they've, DePaulo, she'd, Jess Munday, Dara Feller, Aria Velasquez, they're, " Velasquez, Velasquez, Erica Charles, she's, Charles, Rick Fry, Fry, She'd, She's, Clibborn, Sydney Krantz, He's, —, homeownership Chaz Zimmer, Chaz Zimmer, Adrianna Newell, Tomasz Piskorski, Piskorski, Zimmer hasn't, Zimmer, he's, James Paniagua, Paniagua, snagging, Julia Mazur, Kathy Pierre, Pierre Organizations: Business, American, Survey, Pew, BI Garak, BI, Subaru, Columbia Business School Locations: Jess Munday's San, Francisco's, San Francisco, Chicago, Washington ,, IPUMS, Florida, California, Waverly , New York, homeownership, Oakland , California, Los Angeles, Oakland, London, Austin, Charlotte , North Carolina, Charlotte

☆ Rise of resort day passes offers travelers luxury on a budget
▼ + stars: | 2024-05-25 | by ( Micah Washington | ) www.cnbc.com time to read: +5 min

Day passes at hotels and resorts offer guests access to amenities without the cost of reserving a room. Hotels and third-party partners are making day passes more readily available to help bridge the gap between travel-minded consumers and luxury prices. Luxury hotel room rates in July are expected to be 85% higher than the same month in 2019, before the Covid pandemic, according to the luxury travel company Virtuoso. Berg said day passes "give people exactly what they want" and provide a separate source of revenue for hotels. Customers who buy day passes through ResortPass often splurge on poolside or other hotel amenities more than overnight guests do, Wolf said.

Persons: Lora Bowler, Bowler, she's, Hayley Berg, Hopper, Berg, Sarah Payton, Michael Wolf, Wolf, ResortPass Organizations: The New, Booking.com, Consumers, Virgin Hotels, Empire, ResortPass, Waldorf, Astoria, JW Marriott Locations: The, The New York, U.S, Virgin Hotels New York City, Manhattan's Koreatown, Fontainebleau, ResortPass

☆ 6 countries where millionaires are moving and how these nations help protect and grow their investments
▼ + stars: | 2024-05-25 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

An estimated record 122,000 millionaires moved to new countries in 2023, up 45% from 2022.record 122,000 millionaires moved to new countries in 2023, up 45% from 2022. Henley & Partners data shows Australia topped the net inflow of millionaires, outpacing the US. China faced the highest net loss of millionaires, followed by India and the UK. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That's according to data from Henley & Partners, a firm that advises the wealthy where to move to protect and grow their wealth. The firm says a record number of millionaires moved to a new country in 2023.

Persons: — Organizations: Henley & Partners, Service, United, United Arab Emirates, Business Locations: Australia, China, India, United Arab

☆ I went on one date with a man, and then we decided to travel together indefinitely. It's not as romantic as it seems.
▼ + stars: | 2024-05-25 | by ( Courtney Cardini | ) www.businessinsider.com time to read: +4 min

Last year, I finally fulfilled my dream of traveling full-time when I got a job aboard a cruise ship. Plus, I had already scheduled my travel plans for the next two months. We decided to keep traveling togetherI had to choose between my travel plans and my partner. Having been a solo traveler, giving up my travel plans for something that may or may not work out was not a decision I took lightly. I never saw myself returning to the US; I wanted to return to Italy or continue traveling full-time with my future partner and kids.

Persons: I've, wanderlust Organizations: Service, Nomad Locations: Lisbon, Norway, Porto, Spain, Italy, Germany

☆ Ukraine Steps Up Attacks With U.S. Long-Range Missiles
▼ + stars: | 2024-05-25 | by ( Constant Méheut | ) www.nytimes.com time to read: +1 min

The Ukrainian army has increasingly used U.S.-supplied long-range missiles to target Russian airfields and warships deep inside Russian-occupied Ukrainian territory, but it has been barred by Washington from extending its attacks into Russia proper, limiting its ability to repel enemy assaults. In the past week, Kyiv’s forces launched three attacks using Army Tactical Missile Systems, known as ATACMS. Ukraine hopes that the strikes, by hurting Moscow’s ability to conduct military operations, will ultimately help relieve troops struggling to contain Russian advances on the ground. But the United States and other Western allies have permitted only the firing of Western weapons into Russian-occupied territory in Ukraine, not into Russia itself, for fear of escalating the war. Ukrainian officials have complained that the policy allows Moscow to launch attacks from inside Russia without risk and handcuffs Ukraine’s ability to repel them.

Persons: ”, Volodymyr Zelensky Organizations: Army Tactical Missile Systems, The New York Times Locations: U.S, Washington, Russia, Ukraine’s, Ukraine, United States, Moscow

☆ Raymond James CIO: Tech is a 'shining star' this earnings season
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaymond James CIO: Tech is a 'shining star' this earnings seasonLarry Adam, Raymond James chief investment officer, Kim Forrest, Bokeh Capital Partners chief investment officer, and Mark Zandi, Moody’s Analytics chief economist, join 'The Exchange' to discuss the impact of Fed uncertainty on the markets, investing in the AI boom, and more.

Persons: Raymond James, Larry Adam, Kim Forrest, Mark Zandi Organizations: Raymond James CIO, Tech, Bokeh Capital Partners

☆ Are These Drones Too Chinese to Pass U.S. Muster in an Anti-China Moment?
▼ + stars: | 2024-05-24 | by ( Kate Kelly | ) www.nytimes.com time to read: 1 min

A one-man startup believes it has an answer to U.S. government concerns over the Chinese-made drones that dominate commercial sales in the American market. Anzu Robotics’s chief executive and founding partners are all American, and the company’s headquarters is in Texas. The company’s drones, which are expected to be used by law enforcement agencies, utilities, architects and others, are assembled in Malaysia, and they run on servers sitting in Virginia. There’s just one problem: Anzu has multiple close ties to China and to DJI, the Shenzhen-based firm being targeted by legislative and regulatory efforts to curb sales of Chinese drones in the United States. Anzu licensed the design for its drones from DJI, which receives a payment for every drone that Anzu orders from its manufacturer in Malaysia.

Persons: Anzu, There’s Locations: Texas, Malaysia, Virginia, China, DJI, Shenzhen, United States

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