DIRS.INFO The most relevant business & tech news

☆ IRS Court Win Paves Way for Higher Taxes on Hedge-Fund Managers
▼ + stars: | 2023-11-30 | by ( Richard Rubin | Peter Rudegeair | ) www.wsj.com time to read: 1 min

The IRS has challenged investment funds over who qualifies for an exception that limited partners get from federal self-employment taxes. Photo: Ting Shen for the Wall Street JournalThe Internal Revenue Service scored a significant win over the hedge-fund and asset-management industries this week in a case that could bring higher taxes for many fund managers. The U.S. Tax Court’s ruling could require managers to pay self-employment taxes of more than 3% on much of their income. If the opinion survives additional legal battles and is applied broadly, it would close off a popular technique that lets them exclude millions of dollars in income from self-employment taxes and related levies that others must pay.

Persons: Ting Shen Organizations: IRS, Wall Street, Internal Revenue Service, U.S, Tax

☆ AbbVie to Buy Cancer Biotech ImmunoGen for More Than $10 Billion
▼ + stars: | 2023-11-30 | by ( Jared S. Hopkins | Colin Kellaher | ) www.wsj.com time to read: 1 min

If the deal goes through, AbbVie would acquire ImmunoGen’s flagship cancer therapy Elahere. Photo: Brian L. Frank for The Wall Street JournalDrug company AbbVie has agreed to buy biotech ImmunoGen for $10.1 billion in a new bet on one of the most promising novel drug technologies for attacking cancer. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which work like guided missiles delivering a toxic agent directly to tumors. The technology is among the hottest areas in the pharmaceutical industry. Recent advancements have spread its use to common kinds of cancer such as breast, spawning other multibillion-dollar deals.

Persons: AbbVie, Brian L, Frank, ImmunoGen Organizations: The Wall Street Journal

☆ Consumers Likely Pulled Back Spending in October
▼ + stars: | 2023-11-30 | by ( Gwynn Guilford | ) www.wsj.com time to read: +1 min

Dwindling pandemic savings and student loan payments resuming are some of the factors eroding Americans’ ability to keep spending. Photo: Rachel Wisniewski for The Wall Street JournalAmericans slowed their spending in October and inflation ebbed as the economy downshifted from a fast-paced third quarter, forecasters say. Economists surveyed by The Wall Street Journal estimate consumer spending rose 0.2% in October, down from a 0.7% rise in September and the slowest increase since May. Core prices rose 0.2% in October from the prior month, down from the 0.3% monthly gain in September, they said. Core prices rose at a 2.8% annualized rate in April through September, down from a 4.5% annualized rate in the prior six-month period.

Persons: Rachel Wisniewski Organizations: Wall Street Journal, Wall, Federal

As snow fell silently in a secret location in eastern Ukraine, the Russian infantrymen huddled on a garage floor, their hands dirty and their faces exhausted. The men had been captured by Ukrainian troops during intense fighting for the city of Avdiivka. Now they waited to be sent to prisoner-of-war facilities, far from the front line.

Locations: Ukraine, Russian, Ukrainian, Avdiivka

☆ Can a Big Pharma Ever Be Worth $1 Trillion?
▼ + stars: | 2023-11-29 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Daniel Skovronsky, chief scientific and medical officer at Eli Lilly, pushed the company to move more quickly and focus more on science. Photo: Maddie McGarvey for The Wall Street JournalThere are five tech companies valued at over $1 trillion. In healthcare, the closest contender is Eli Lilly . This year it became the first big pharmaceutical to surpass a market capitalization of $500 billion thanks to the popularity of its obesity and diabetes medications and, to a lesser extent, its experimental Alzheimer’s drug. But hanging over Lilly and rival Novo Nordisk is a reality that puts the brakes on big pharma’s ascent: the patent cliff.

Persons: Daniel Skovronsky, Eli Lilly, Maddie McGarvey, Lilly Organizations: Wall, Novo Nordisk

☆ Kim S. Nash — Deputy Bureau Chief at The Wall Street Journal
▼ + stars: | 2023-11-29 | by ( Kim S. Nash | ) www.wsj.com time to read: +1 min

Kim S. NashKim Nash is an editor who manages a team of reporters covering cybersecurity and data-privacy issues for The Wall Street Journal's Pro unit in New York. Kim guides her team to write frequently on what works and what doesn’t in corporate cybersecurity efforts, from a management and technological viewpoint. The team also explores how regulatory policy and threats to critical infrastructure help and hinder corporate protection and privacy. Of great importance is how C-suite executives collaborate among each other and with the board of directors to oversee cybersecurity. Kim joined the Journal from CIO Magazine, where she was managing editor, working with freelance reporters and writing cover stories for the then-monthly publication.

Persons: Kim S, Nash Kim Nash, Kim Organizations: cybersecurity, Magazine Locations: New York

THERE’S NO PARTY I love more than a holiday party. A fabulous frock, a little lippy, something special to sip on. But this year, instead of shots and Champagne towers (which I adore), I’m craving something more relaxed. For a drink that still feels special but also suits nights when I don’t feel like tearing up the dance floor, I can think of nothing more perfect than vermouth. Strangely, it’s taken me years to figure out how to re-create this social ritual at home.

Persons: sipping, it’s Locations: Palma , Mallorca

Joan Soranno and John Cook clicked from the start. They met when they were working as architects on a Frank Gehry-designed project in 1991 in Minneapolis and spent the ensuing decades as partners, first in work and then in marriage. Together, they have designed many award-winning cultural landmarks, from the Marlboro Music Reich Hall Rehearsal Building & Music Library in Vermont to the Bigelow Chapel at the United Theological Seminary of the Twin Cities.

Persons: Joan Soranno, John Cook, Frank Gehry, Bigelow Organizations: Marlboro Music, Music Library, United Theological Seminary, the Twin Locations: Minneapolis, Vermont, the Twin Cities

☆ Gayle King on Jumpsuits, Waking Up at 3:24 a.m. and Why She Doesn’t Drink
▼ + stars: | 2023-11-29 | by ( Marshall Heyman | Photographs Kacey Jeffers For The Wall Street Journal | ) www.wsj.com time to read: +1 min

TELEVISION PERSONALITY Gayle King began honing her interview skills as a child in Chevy Chase, Md. Today, she adds a new prime-time CNN news show to her résumé, “King Charles,” which she hosts with sportscaster Charles Barkley. For many years, King was best known as a much-referenced pal of Oprah Winfrey , whom she met in Baltimore in 1976 when both worked in local news. But today, King is a force in her own right, equally admired for her outsize personality, adventurous fashion sense and facility for chatting uninhibitedly with celebrities such as Jay-Z and Barbra Streisand. “Shyness is not one of my strong suits.” Here, King opens up about her addiction to icing, unfashionable loyalty to iPods, robust high-low wardrobe and more.

Persons: Gayle King, hasn’t, ”, “ King Charles, Charles Barkley, King, Oprah Winfrey, Barbra Streisand, “ I’ve, ” King Organizations: CBS, Oprah Daily, CNN Locations: Chevy Chase, Md, “, Baltimore

☆ Harvard’s Hamas Confusion
▼ + stars: | 2023-11-28 | by ( William Mcgurn | ) www.wsj.com time to read: 1 min

William McGurn is a member of The Wall Street Journal editorial board and writes the weekly "Main Street" column for the Journal each Tuesday. Previously he served as Chief Speechwriter for President George W. Bush. Mr. McGurn has served as chief editorial writer for The Wall Street Journal in New York. He spent more than a decade overseas -- in Brussels for The Wall Street Journal/Europe and in Hong Kong with both the Asian Wall Street Journal and the Far Eastern Economic Review. Bill is author of a book on Hong Kong ("Perfidious Albion") and a monograph on terrorism ("Terrorist or Freedom Fighter").

Persons: William McGurn, George W, Bush, McGurn, Bill Organizations: Wall Street, The Wall Street, Street Journal, Economic, Washington, National Review, Foreign Relations, Notre Dame, Communications, Boston University Locations: New York, Brussels, Europe, Hong Kong

☆ Shein Still Needs to Prove It’s a Bargain
▼ + stars: | 2023-11-28 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

A wide range of apparel at affordable prices has made Shein a sensation. Photo: Adrienne Grunwald for The Wall Street JournalBuilt-in-China online fashion company Shein has swept the world with its fast-to-market, hip designs. It now needs to show investors that its breakneck growth can convert into bigger profit, too. The company is probably looking for a valuation higher than the $66 billion implied by a fundraising round in May. That would put Shein’s market value comfortably above H&M ’s $27 billion but below Zara’s parent Inditex ’s $127 billion.

Persons: Adrienne Grunwald, Shein Organizations: Wall Locations: China, Singapore, U.S

☆ Katherine Blunt — Reporter at The Wall Street Journal
▼ + stars: | 2023-11-28 | by ( Katherine Blunt | ) www.wsj.com time to read: 1 min

Katherine BluntKatherine Blunt has covered power, renewable energy and utilities for The Wall Street Journal since 2018 and is based in San Francisco. Much of her work has focused on wildfires, drought and other challenges facing utilities in the West. Her coverage of PG&E was a finalist for the 2020 Pulitzer Prize for National Reporting and earned a Gerald Loeb award, the highest honor in business reporting. She is the author of “California Burning: The Fall of Pacific Gas and Electric and What it Means for America’s Power Grid.” Prior to joining the Journal, Katherine was a business reporter at the Houston Chronicle. Before that, she covered transportation for the San Antonio Express-News.

Persons: Katherine Blunt Katherine Blunt, Gerald Loeb, Katherine Organizations: Wall Street, National, “, Pacific Gas and, Houston Chronicle, San Antonio Express Locations: San Francisco, West, “ California

☆ The Secrets to Charlie Munger’s Success
▼ + stars: | 2023-11-28 | by ( Jason Zweig | ) www.wsj.com time to read: 1 min

Charlie Munger in 2019 at his home in Los Angeles. Photo: Michael Lewis for The Wall Street JournalBusiness and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger ’s thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones. Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison , founders of the online payment firm Stripe; Bobby Kotick , chief executive of videogame company Activision Blizzard ; Pradeep Khosla , chancellor of the University of California, San Diego; Maria Pope , chief executive of Portland General Electric , Oregon’s largest utility; and Howard Marks , co-founder of investment firm Oaktree Capital Management.

Persons: Charlie Munger, Michael Lewis, Charlie Munger ’, John, Patrick Collison, Bobby Kotick, Pradeep Khosla, Maria Pope, Howard Marks Organizations: The Wall Street Journal, Activision Blizzard, University of California, Portland General Electric, Oaktree Capital Management Locations: Los Angeles, San Diego, Portland

☆ Russian Court Extends Detention of American Reporter
▼ + stars: | 2023-11-28 | by ( Ivan Nechepurenko | More About Ivan Nechepurenko | ) www.nytimes.com time to read: 1 min

A Moscow court on Tuesday extended the pretrial detention of Evan Gershkovich, an American reporter for The Wall Street Journal who has been held in Russia for nearly eight months on an espionage charge that he, his newspaper and the U.S. government vehemently reject. Mr. Gershkovich, 32, has been held in the notoriously strict Lefortovo prison in Moscow since his arrest on March 29 during a reporting trip to the central Russian city of Yekaterinburg. If convicted, he could face up to 20 years in a Russian penal colony. Wearing jeans and a checkered shirt under a dark jacket, Mr. Gershkovich listened to the judge on Tuesday from a white courtroom cage, according to a video shared by the press service for Moscow courts. The ruling means that Mr. Gershkovich will remain in custody until Jan. 30; it was the third time his detention has been extended.

Persons: Evan Gershkovich, Gershkovich Organizations: Wall Street, U.S Locations: Moscow, American, Russia, Russian, Yekaterinburg

☆ U.S. Whiskey Is ‘Collateral Damage’ in Trans-Atlantic Trade Fight
▼ + stars: | 2023-11-27 | by ( Kristina Peterson | Kim Mackrael | ) www.wsj.com time to read: 1 min

U.S. whiskey makers are bracing for an EU tariff that would retaliate for U.S. tariffs on European steel. Photo: Luke Sharrett for The Wall Street JournalBrooke Glover wants to ship her award-winning, West Virginia-made whiskey to Europe, where fans have been clamoring for a taste. But she has no plans to expand across the Atlantic just yet. Swilled Dog distillery is one of many American whiskey makers falling victim to a fight that has nothing to do with bourbon or rye. The threatened tariff is the European Union’s retaliation for U.S. tariffs on European steel and aluminum, which themselves were part of tougher trade measures designed to boost U.S. manufacturers.

Persons: Luke Sharrett, Brooke Glover Organizations: Wall Street, West Locations: West Virginia, Europe

☆ How Your Dog or Cat Could Help Speed Up Your Health Tests
▼ + stars: | 2023-11-27 | by ( Jared S. Hopkins | Photographs Tayler Smith For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Imagine getting medical-test results within minutes or seconds, before you leave the doctor’s office, for even the most complicated diagnoses. Steps toward that goal are happening in an unlikely place: The veterinarian’s office. Researchers are using results from your pets’ tests for things like hookworms and other parasites to train artificial intelligence tools that not only speed up Fido’s results, but are informing human diagnostics, too.

☆ Fast-Fashion Giant Shein Files to Go Public
▼ + stars: | 2023-11-27 | by ( Corrie Driebusch | Shen Lu | ) www.wsj.com time to read: 1 min

A Shein pop-up shop in New York City. The company has become one of the largest fashion brands in the world. Photo: Adrienne Grunwald for The Wall Street JournalShein, the China-founded online fashion company that won over hundreds of millions of shoppers around the world, has confidentially filed to go public in the U.S. in what could be one of the biggest IPOs in years. Goldman Sachs , JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024, people familiar with the matter said.

Persons: Adrienne Grunwald, Goldman Sachs, JPMorgan Chase, Morgan Stanley Organizations: Wall, JPMorgan Locations: New York City, China, U.S

☆ Hot Healthcare Hiring Bolsters Cooling U.S. Labor Market
▼ + stars: | 2023-11-26 | by ( Gwynn Guilford | Gabriel T. Rubin | ) www.wsj.com time to read: 1 min

Healthcare providers accounted for 30% of U.S. job gains in the six months through October. Photo: Lauren Petracca for The Wall Street JournalA healthcare hiring boom is helping offset weaker job growth in other areas of the softening U.S. economy, boosting its chances of skirting a recession. The industry could serve as a strong job generator for years to come as an aging population and Covid-19 fuel widespread worker shortages and greater needs for healthcare services.

Persons: Lauren Petracca Organizations: Wall

☆ Laura Kusisto — Reporter at The Wall Street Journal
▼ + stars: | 2023-11-26 | by ( Laura Kusisto | ) www.wsj.com time to read: 1 min

Laura KusistoLaura Kusisto is the national legal affairs reporter for The Wall Street Journal, where she leads the paper’s abortion coverage and also focuses on transgender issues, voting rights, religious liberty and state courts. Laura led a team of reporters who received the 2022 Newswomen's Club of New York's award for breaking news for coverage of the fall of Roe v. Wade and in 2020 was a co-recipient of the Newswomen’s Club’s Nellie Bly award for a story about fatal errors in New York's coronavirus response. During her time at the Journal, Laura also has covered the U.S. housing market and economic development in New York.

Persons: Laura Kusisto Laura Kusisto, Laura, Roe, Wade, Nellie Bly Organizations: Wall Street, New Locations: New York

☆ Scientists Are Racing to Protect Grass From Climate Change. Your Cheap Burger Is at Stake.
▼ + stars: | 2023-11-26 | by ( Mike Cherney | Photographs Ruth Mcdowall For The Wall Street Journal | ) www.wsj.com time to read: 1 min

HAMILTON, New Zealand—Scientists here are betting that a small field surrounded by cattle farms will help to solve a crucial problem threatening the global food supply: how to keep the grass and other plants that livestock eat in pastures from wilting under extreme heat and drought. The field is part of an experiment that aims to develop new varieties of pasture plants that can tolerate high temperatures, less rain and more variability in the weather that is expected from climate change. Researchers around the world, from the U.S. to Europe, are racing to conduct similar trials with their own local grass species.

Organizations: New Zealand — Locations: HAMILTON, New Zealand, wilting, U.S, Europe

☆ Humanity’s Future or an Unwelcome Interloper: SpaceX’s Starbase Transforms a Corner of Texas
▼ + stars: | 2023-11-26 | by ( Micah Maidenberg | Photographs Verónica G. Cárdenas For The Wall Street Journal | ) www.wsj.com time to read: 1 min

BROWNSVILLE, Texas—Elon Musk’s space company is blasting off the world’s most powerful rockets in this corner of Texas—and remaking it along the way. Supporters say Space X’s Starbase represents a once-in-a-lifetime opportunity to change the course of Brownsville and the Rio Grande Valley, which has long struggled with poverty.

Persons: BROWNSVILLE , Texas — Organizations: BROWNSVILLE , Texas — Elon Locations: BROWNSVILLE , Texas, Texas, Brownsville, Rio Grande

☆ Nikki Haley’s Challenge: Keep Anti-Trump GOP Vote, Add Some Trump Backers
▼ + stars: | 2023-11-25 | by ( John Mccormick | Photographs Kc Mcginnis For The Wall Street Journal | ) www.wsj.com time to read: +2 min

MARSHALLTOWN, Iowa—The fate of Nikki Haley’s presidential campaign rests on a central question: Can she be all things to all Republicans? As the Republican presidential primary field begins to narrow, Haley’s rise in polls represents the re-emergence of a more traditional Republican at a time when former President Donald Trump dominates the party. Haley, a former South Carolina governor and United Nations ambassador, has made progress in consolidating the anti-Trump vote. In an interview, Haley declined to say whether she identifies more with the Trump wing of the party or traditional Republicans. But she must first get past Ron DeSantis, who is more closely aligned with Trump on policy and in temperament.

Persons: Nikki Haley’s, Donald Trump, Haley, Trump, More, “, ”, I’m, ” Haley, Biden, Ron DeSantis Organizations: Republican, United Nations, Trump, Trump Republican, More Trump, Tea Party, GOP Locations: MARSHALLTOWN, Iowa, South Carolina, Ukraine, Israel, China, Florida

☆ Scientists Are Racing to Protect Grass From Climate Change. Your Cheap Burger Is at Stake
▼ + stars: | 2023-11-25 | by ( Mike Cherney | Photographs Ruth Mcdowall For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Organizations: New Zealand — Locations: HAMILTON, New Zealand, wilting, U.S, Europe

☆ The Biden Energy Slush Fund
▼ + stars: | 2023-11-24 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Kimberley Strassel is a member of the editorial board for The Wall Street Journal. She writes editorials, as well as the weekly Potomac Watch political column, from her base in Alaska. Ms. Strassel joined Dow Jones & Co. in 1994, working in the news department of The Wall Street Journal Europe in Brussels, and then in London. She moved to New York in 1999 and soon thereafter joined the Journal's editorial page, working as a features editor, and then as an editorial writer. An Oregon native, Ms. Strassel earned a bachelor's degree in Public Policy and International Affairs from Princeton University.

Persons: Kimberley Strassel, Strassel Organizations: Wall Street, Potomac Watch, Dow Jones & Co, The, Street, Fox, Sunday, Press, Policy, International Affairs, Princeton University Locations: Kimberley, Alaska, Brussels, London, New York, An Oregon

☆ Black Friday Deals Started Early, and Shoppers Were Choosy
▼ + stars: | 2023-11-24 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

An Anthropologie store in Philadelphia on Friday, as retailers’ crucial selling season got under way. Photo: Rachel Wisniewski for The Wall Street JournalMillions of Americans visited stores on Black Friday but retailers are bracing for shoppers who are less willing to splurge this holiday season. Many households have already begun their gift buying in a year when high prices for food and other essentials have sapped demand for apparel, home décor and other items people might want but not need.

Persons: Rachel Wisniewski Organizations: Wall Street Locations: Philadelphia

Search resuls for: "For The Wall Street Journal"

25 mentions found