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☆ Icahn proposes three candidates for Illumina’s board — Here’s what could be next in the battle
  + stars: | 2023-03-18 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +5 min
However, Icahn has had extensive activist experience at health-care companies. Since the acquisition closed in August 2021, Illumina's stock price fell by 57% from $522.89 to $225.88, eliminating $47 billion of shareholder value. Icahn's nominees have significant restructuring, corporate governance, M&A, capital markets and legal experience — five things the company desperately needs. Moreover, even after this battle started, they did not add anyone with legal experience to the board. Now, when Icahn suggests they add to the board Jesse Lynn, general counsel to Icahn Enterprises with 27 years of legal experience, the board responds that he lacks the relevant skills and experience.
☆ Illumina Should Heed Carl Icahn, Give Up on Grail
  + stars: | 2023-03-17 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Activist investor Carl Icahn said that he favors Illumina’s divestiture of Grail. Many of Illumina’s shareholders have grown increasingly frustrated with Chief Executive Francis deSouza’s pursuit of Grail. Grail lost about $600 million last year, cutting into Illumina’s profit. On top of that, the company has set aside $453 million for fines it might incur from European regulators for closing the deal before obtaining regulatory clearance. Illumina has taken a $3.9 billion write-down to reflect that possibility.
☆ Illumina Should Heed Carl Icahn, Give Up on ‘Holy’ Grail
  + stars: | 2023-03-17 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Activist investor Carl Icahn said that he favors Illumina’s divestiture of Grail. Many of Illumina’s shareholders have grown increasingly frustrated with Chief Executive Francis deSouza’s pursuit of Grail. Grail lost about $600 million last year, cutting into Illumina’s profit. On top of that, the company has set aside $453 million for fines it might incur from European regulators for closing the deal before obtaining regulatory clearance. Illumina has taken a $3.9 billion write-down to reflect that possibility.
☆ Volkswagen beats Elon Musk in the race to cheap EVs, revealing a car it plans to sell for $26,600
  + stars: | 2023-03-17 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com   time to read: +4 min
2all concept car won't ever make its way to the US. 2all concept: a small, battery-powered hatchback that it plans to sell for 25,000 euros ($26,600) or less when it goes into production in 2026. The Volkswagen ID. Volkswagen AGMusk's complicated, yearslong journey with the $25,000 EVIn 2020, Musk promised a fully autonomous, $25,000 vehicle as battery costs came down. At Tesla's first-ever Investor Day earlier this month, which many anticipated would bring news about a sub-$30,000 model, Musk mentioned almost nothing of the sort.
☆ This week's best performers include two chip stocks along with Microsoft
  + stars: | 2023-03-17 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +2 min
Microsoft shares are within shouting distance of analysts' average price target for the next 12 months, with upside of about 1%. However, shares are already more than 5% higher than their average price target. Nvidia shares have also run ahead of their average price target. The firm raised its price target on shares to $304 from $255, implying 19% upside from Thursday's close. Illumina shares jumped 15.3% week to date as billionaire activist Carl Icahn prepared for a proxy fight at Illumina .
☆ See the pitch deck Zus Health used to convince top VCs like Andreessen Horowitz, F-Prime, and Maverick to back its solution for healthcare's $140 billion data-sharing problem
  + stars: | 2023-03-16 | by ( Blake Dodge | Rebecca Torrence | ) www.businessinsider.com   time to read: +3 min
Zus Health launched in 2021 with $34 million from investors including Andreessen Horowitz, F-Prime Capital, Maverick Ventures, and Rock Health. Bush, Zus' CEO, told investors in a pitch, per a video Bush sent to Insider. Bush told Insider he was "blessed" to have his stake in the company diluted in this fashion, given the funding climate. "There's all these little pieces, but all of them are just re-clipboarding because nobody has a common clinical story," Bush told investors. Here's the deck Zus used to raise $40 million from Andreessen Horowitz, F-Prime Capital, Maverick Ventures, and Jazz Venture Partners.
☆ We got the presentation health-tech veteran Jonathan Bush used to land $40 million for his new startup Zus Health
  + stars: | 2023-03-16 | by ( Blake Dodge | Rebecca Torrence | ) www.businessinsider.com   time to read: +3 min
Zus Health, his new startup, aims to continue some of his work at Athena to digitize patient health. Zus Health launched in 2021 with $34 million from investors including Andreessen Horowitz, F-Prime Capital, Maverick Ventures, and Rock Health. Bush, Zus' CEO, told investors in a pitch, per a video Bush sent to Insider. Bush told Insider he was "blessed" to have his stake in the company diluted in this fashion, given the funding climate. "There's all these little pieces, but all of them are just re-clipboarding because nobody has a common clinical story," Bush told investors.
☆ Activist investor Icahn launches proxy fight at Illumina
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Mike BlakeMarch 13 (Reuters) - Activist investor Carl Icahn on Monday launched a proxy fight at Illumina Inc (ILMN.O), saying the life sciences company's takeover of Grail Inc (GRAL.O) had cost shareholders about $50 billion since the closing of the deal. Shares of Illumina jumped more than 20% to $233.50 in morning trade, and have declined 7.2% since the deal closed in August 2021. Icahn plans to nominate three people to Illumina's board at the company's upcoming shareholder meeting, he said in a letter sent to shareholders. "We have therefore determined to launch a proxy contest to attempt to gain board representation," Icahn said, adding he feared the company's board will continue to pursue the Grail transaction. Icahn said his nominees - Vincent Intrieri, Jesse Lynn and Andrew Teno - would help keep Illumina from "sinking further".
☆ Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more
  + stars: | 2023-03-13 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
REUTERS/Mike SegarCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. Citi , Bank of America , Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Moderna — The biotechnology company's shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. Spot gold passed the key level of $1,900 as investors bet the Federal Reserve may tone down rate hikes on the heels of Silicon Valley Bank's collapse. Over the weekend, NBC News reported that the e-commerce company warned sellers that the collapse of Silicon Valley Bank is causing delays in processing payments.
☆ CERAWEEK-Renewable energy investors squeezed by higher interest rates, costs
  + stars: | 2023-03-10 | by ( Isla Binnie David French | Isla Binnie | David French | ) www.reuters.com   time to read: +4 min
REUTERS/Nathan Frandino//File PhotoNEW YORK/HOUSTON, March 10 (Reuters) - Corporations and investors have been pouring money into renewable energy projects, seeing an opportunity to grasp the Holy Grail of socially conscious investing: do good while doing well. But sharply higher interest rates have further stressed a model strained by soaring prices for steel and silicon, vital for wind turbines and solar panels. Higher costs have buyers and sellers of renewable power projects recalculating potential returns, hampering fundraising and mergers and acquisitions (M&A). A decade of low interest rates meant borrowers could raise cheap debt to build projects and juice returns. Financial investors traditionally took stakes in operating renewables projects to avoid risks of construction delays and ensure stable returns.
☆ Wet Winter Storm Pummels California
  + stars: | 2023-03-10 | by ( ) www.wsj.com   time to read: 1 min
Energy Breakthrough Opens Up Possibility for Better Battery PowerA team of researchers from the University of Rochester think they have found the holy grail of energy transmission. And in the next decade, it could change how we use our personal gadgets, medical devices and the energy grid. WSJ science reporter Aylin Woodward joins host Zoe Thomas to discuss this new superconductor. Plus, if you have questions about generative artificial intelligence, email us a voice recording at tnb@wsj.com. Photo by Lauren Patracca/WSJ.
☆ Rihanna's Wealth: Breaking Down Her $1.4 Billion Business Empire
  + stars: | 2023-03-10 | by ( ) www.wsj.com   time to read: 1 min
Energy Breakthrough Opens Up Possibility for Better Battery PowerA team of researchers from the University of Rochester think they have found the holy grail of energy transmission. And in the next decade, it could change how we use our personal gadgets, medical devices and the energy grid. WSJ science reporter Aylin Woodward joins host Zoe Thomas to discuss this new superconductor. Plus, if you have questions about generative artificial intelligence, email us a voice recording at tnb@wsj.com. Photo by Lauren Patracca/WSJ.
☆ Watch: U.K., France Pledge Cooperation on Ukraine and Migration
  + stars: | 2023-03-10 | by ( ) www.wsj.com   time to read: 1 min
Energy Breakthrough Opens Up Possibility for Better Battery PowerA team of researchers from the University of Rochester think they have found the holy grail of energy transmission. And in the next decade, it could change how we use our personal gadgets, medical devices and the energy grid. WSJ science reporter Aylin Woodward joins host Zoe Thomas to discuss this new superconductor. Plus, if you have questions about generative artificial intelligence, email us a voice recording at tnb@wsj.com. Photo by Lauren Patracca/WSJ.
☆ Yellen Addresses Concerns Over Debt Ceiling, SVB Financial Situation
  + stars: | 2023-03-10 | by ( ) www.wsj.com   time to read: 1 min
Energy Breakthrough Opens Up Possibility for Better Battery PowerA team of researchers from the University of Rochester think they have found the holy grail of energy transmission. And in the next decade, it could change how we use our personal gadgets, medical devices and the energy grid. WSJ science reporter Aylin Woodward joins host Zoe Thomas to discuss this new superconductor. Plus, if you have questions about generative artificial intelligence, email us a voice recording at tnb@wsj.com. Photo by Lauren Patracca/WSJ.
☆ Are weight loss drugs really the holy grail?
  + stars: | 2023-03-07 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAre weight loss drugs really the holy grail? Ethan Weiss, Third Rock Ventures, discusses the promise and potential of weight loss drugs. With CNBC's Melissa Lee and the Fast Money traders, Karen Finerman, Steve Grasso, Guy Adami and Bonawyn Eison.
☆ Elon Musk's new Master Plan for Tesla should've introduced cheap EVs. Instead, we got a whole lot of nothing.
  + stars: | 2023-03-02 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
The world is waiting for cheap EVs, but Tesla isn't ready to deliver — yet. Elon Musk's EV company held an Investor Day in Texas that had everything but cheap EVs. He needs one now — and fast — as competitors are putting the pedal to the metal in their own quests for low-cost EVs. On the investor front, low-cost EVs help make Tesla a truly global phenomenon. But the lack of any firm details on a cheap EV made for a puzzling omission from what was meant to be a showcase of Tesla's offerings.
☆ Michael Jordan’s Championship Air Jordans, Sneakerdom’s Most Elite Collection, Head to Sotheby’s Sale
  + stars: | 2023-02-27 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
Sotheby’s auction house will unveil on Tuesday in Dubai what many sneaker collectors consider to be the Holy Grail: the “Dynasty Collection,” or six Nike Air Jordan sneakers that Michael Jordan, His Airness himself, wore during the six NBA championship games the Chicago Bulls won in the 1990s. The price for the collection, on offer in a private sale? Sotheby’s won’t disclose it. But to sneaker collectors, it’s close to priceless: These shoes are like the Mona Lisa, the David and a few of Monet’s Water Lilies rolled into one. Memorabilia experts place their value well into the millions, which would make the collection the most expensive set of shoes ever sold.
☆ 6 sneakers Michael Jordan wore during game-clinching NBA Finals games are about to go on sale — and the price could set a record
  + stars: | 2023-02-27 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Sotheby's this week will put up for sale a collection of six Air Jordan sneakers. Each of the six sneakers was worn by Michael Jordan during an NBA Finals game. Auction house Sotheby's on Tuesday will unveil a collection of six Air Jordan sneakers in Dubai. For perspective, a jersey Jordan wore during the 1998 NBA Finals sold last year for $10.1 million. "This set represents the most valuable and significant collection of Air Jordan sneakers ever brought to market," Sotheby's said, in a listing.
☆ The FTC’s Antitrust Collusion
  + stars: | 2023-02-24 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
The Federal Trade Commission keeps losing antitrust cases in court, but it has an alternative strategy to stop mergers: colluding with foreign governments. Documents shared with us show how FTC officials have worked hand-in-glove with their European counterparts to scuttle Illumina ’s acquisition of Grail, the cancer blood-testing startup. The Chamber of Commerce used a Freedom of Information Act request to obtain 628 pages of emails between FTC officials and European competition regulators. The FTC furnished the emails only after being sued by the Chamber, and the documents are almost completely redacted aside from dates, FTC staff names, pleasantries, and mentions of calls or Zoom meetings.
☆ Elon Musk's challenge: Stay ahead of the competition
  + stars: | 2023-02-24 | by ( Joseph White Paul Lienert | Joseph White | Paul Lienert | ) www.reuters.com   time to read: +5 min
1 EV maker worldwide in 2022, but China's BYD (002594.SZ) and others are closing the gap fast, according to a Reuters analysis of global and regional EV sales data provided by EV-volumes.com. In fact, BYD passed Tesla in EV sales last year in the Asia-Pacific region, while the Volkswagen Group (VOWG_p.DE) has been the EV leader in Europe since 2020. Reuters GraphicsThe most significant challenges to Tesla are coming from established automakers and a group of Chinese EV manufacturers. Tesla's vehicles offered features, such as the ability to navigate into a parking space or make rude sounds, that other vehicles lacked. IDRA, the Italian company that builds huge presses to form large one-piece castings that are the building blocks of Tesla vehicles, said it is now getting orders from other automakers.
☆ How to access your IRS transcripts for an accurate tax return — and faster refund
  + stars: | 2023-02-22 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
"Oftentimes, filing a complete and accurate return is much better than filing the return quickly," said Michael Prinzo, managing principal of tax at CliftonLarsonAllen. Companies prepare tax forms such as W-2s or 1099s every year, with copies for taxpayers and the IRS. How to use IRS transcriptsOne way to check which forms you need is by pulling an IRS transcript online, which summarizes some of your key tax information. How to access IRS transcripts online 1. Other uses for IRS transcripts
☆ Tesla accused of firing union supporters days after organizing effort starts
  + stars: | 2023-02-16 | by ( Chris Isidore | ) edition.cnn.com   time to read: +3 min
New York CNN —Tesla has fired more than 30 supporters of a nascent union at its Buffalo facility, just days after the organizing effort was announced, according to the union. The union, Tesla Workers United, has filed a complaint with the National Labor Relations Board alleging the company illegally fired its supporters. “I feel blind sided,” said Arian Berek, one of the fired employees quoted in the union’s statement. Starbucks Workers United’s first victory came in Buffalo, and it is particularly strong in Western New York. In the past, Tesla has been accused of illegally firing union supporters at its plant in California, its first to build cars.
☆ A husband-wife duo turned the $1,700 Snoo into the holy grail of parenting, but some say they run their company like a dysfunctional 'surveillance state'
  + stars: | 2023-02-13 | by ( Kate Taylor | Jake Swearingen | ) www.businessinsider.com   time to read: +31 min
Karp and Montée Karp built the hype into a parenting-media empire that put out three books and two instructional films in 10 years. Karp and Montée Karp met at a Hollywood party in the early '90s. Karp and Montée Karp promised her independence and flexibility to accommodate her two young children's day-care schedules and a 90-minute commute. Karp and Montée Karp insisted on being involved in minutiae that most top executives hand off. Karp and Montée Karp turned the Snoo into an award-winning holy grail of parenthood in just a few years.
☆ Nina Montée Karp and Dr. Harvey Karp turned the $1,700 Snoo into the holy grail of parenting. But some say they overhyped the crib's abilities and created a nightmarish corporate culture.
  + stars: | 2023-02-13 | by ( Kate Taylor | Jake Swearingen | ) www.businessinsider.com   time to read: +31 min
Karp and Montée Karp built the hype into a parenting-media empire that put out three books and two instructional films in 10 years. Karp and Montée Karp met at a Hollywood party in the early '90s. Karp and Montée Karp promised her independence and flexibility to accommodate her two young children's day-care schedules and a 90-minute commute. Karp and Montée Karp insisted on being involved in minutiae that most top executives hand off. Karp and Montée Karp turned the Snoo into an award-winning holy grail of parenthood in just a few years.
☆ Event crashers beware: New York Fashion Week security is on high alert to prevent anyone sneaking in
  + stars: | 2023-02-11 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
Sources in the fashion industry told Page Six that New York Fashion Week crashers are going to great lengths to get on the guest list. With a spike in clever content about sneaking into such events, which started this week, spreading online, event coordinators are being extra cautious, Page Six reported this week. According to the Page Six report, there are reports of a "crashersnetwork" group in which people share invites to exclusive events. A September report from The Cut magazine alleged that TikTok has created a boom in people attempting to sneak into exclusive fashion events like the annual Met Gala and fashion week after parties. You can peer in but not be a part of this weird exclusive world,'" Lip said in the video.
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