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☆ Senate committee investigating Florida’s state-backed home insurance company as private insurers flee
▼ + stars: | 2023-11-30 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters, as scientists warn warming oceans and sea level rise are making storms more destructive. Citizens Property Insurance Corporation exists as a so-called insurer of last resort - if owners cannot convince a private insurance company to cover their property, Citizens will step in. If that were to happen, the Senate Budget Committee is worried Florida might turn to the federal government looking for a bailout, Whitehouse said. State insurers of last resort were originally intended as a stopgap for consumers, ensuring their coverage wouldn’t be interrupted. Florida isn’t alone; some major private insurers have either pulled out or stopped writing new policies in wildfire-prone California.

Persons: Ron DeSantis, “, Sen, Sheldon Whitehouse, ” Whitehouse, Michael Peltier, Whitehouse, ”, Benjamin Keys, ” Keys, ’, Keys, “ It’s Organizations: CNN, Citizens Property Insurance Corporation, Republican Gov, Citizens, Democrat, ”, Munich Re, Swiss, Wharton School, University of Pennsylvania, Senate, FAIR, Florida’s Citizens, Budget Locations: After Florida, Rhode Island, Florida, Miami, Tampa, “ Florida, Munich, riskiest, California

☆ $15 Tolls Likely for Nation’s First Congestion Pricing Program
▼ + stars: | 2023-11-29 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

The first congestion pricing program in the United States is taking final shape in New York City, and most drivers appear likely to pay $15 to enter some of the busiest streets in Manhattan as soon as next spring. Transit officials on Wednesday provided the clearest picture yet of the tolls they hope to implement to collect roughly $1 billion annually to fund improvements to the subway and bus networks. In a 19-page report, transit officials narrowed down a dizzying list of tolling possibilities that had been studied over the past year to a single set. Cars will pay a toll of up to $15 once per day, and commercial trucks will pay as much as $36. The report also showed who will get the biggest discounts, credits and exemptions, which have been hotly debated questions.

Locations: United States, New York City, Manhattan, New York

NEW YORK, Nov 27 (Reuters) - A record amount of price-pinched holiday shoppers are expected to use buy now, pay later services for Cyber Monday to relieve stress on their wallets, according to Adobe Analytics. [1/2]A worker sorts products during Cyber Monday at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. The buy now, pay later firm saw a 29% increase in orders placed by U.S. shoppers on Black Friday, with some of the most popular items being personal electronics, televisions and kitchen appliances. It's become really, really, really popular," said Dan Dolev, an analyst at Mizuho Securities. Average basket sizes for buy now, pay later orders on Black Friday declined 32% compared to last year, according to a report from Quantum Metric, a sign that shoppers aren't making as big of purchases this year.

Persons: Klarna, BNPL, Mike Segar, It's, Dan Dolev, Arriana McLymore, Deborah Sophia, Juveria Tabassum, Aurora Ellis Organizations: Adobe Analytics, Shoppers, REUTERS, Mizuho Securities, Black, Thomson Locations: Robbinsville , New Jersey, U.S, New York City, Bengaluru

☆ Israel hosts wartime visit by Elon Musk, eyes Starlink for Gaza
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: +3 min

Israel hosted Elon Musk on Monday, saying it had reached an agreement in principle for using his SpaceX company's Starlink communications in the Gaza Strip, where a pause to the war against Hamas coincided with the tech entrepreneur's visit. At the time, Israeli Communications Shlomo Karhi objected, saying "Hamas will use it (Starlink) for terrorist activities." Musk has said he is against antisemitism and anything that "promotes hate and conflict" - including on X.Antisemitism and Islamophobia have risen worldwide, including during the seven-week-old Gaza war. Israel and Hamas are now in a temporary truce, with some Gaza hostages and Palestinians held by Israel for security offenses going free. Following the outbreak of the Gaza war, antisemitic incidents in the United States rose by nearly 400% from the year-earlier period, according to the Anti-Defamation League, a nonprofit organization that fights antisemitism.

Persons: Elon Musk, Benjamin Netanyahu, Isaac Herzog, Musk, Netanyahu, Communications Shlomo Karhi, Karhi, Walt Disney Organizations: Israel, Elon, SpaceX, Communications, Israeli Ministry of Communications, House, U.S, Warner Bros Discovery, Comcast, Defamation League Locations: Aza, Israel, Kfar Aza, Gaza, California, United States

☆ Trapped in a Tunnel for 15 Days, With No End in Sight
▼ + stars: | 2023-11-27 | by ( Suhasini Raj | More About Suhasini Raj | ) www.nytimes.com time to read: +1 min

Over the two weeks that dozens of Indian construction workers have been trapped in a Himalayan road tunnel, the authorities have reported meter-by-meter progress toward reaching them and offered hopeful timelines for their rescue. Yet 15 days after disaster struck, the 41 men are still stuck. And now, as Indian officials try a new tack — drilling down through the top of a mountain — they acknowledge that the effort will take several days, if it works at all. “We feel a looming sense of doom,” said Jyotish Basumatary, whose brother, Sanjay Basumatary, is trapped inside. If it rains, “the workers’ hands would freeze,” he said by phone.

Persons: ”, Jyotish Basumatary, Sanjay Basumatary, ” Jyotish

☆ Indian rescuers, two weeks after tunnel collapse, try new tack to reach 41 workers
▼ + stars: | 2023-11-26 | by ( Saurabh Sharma | ) www.reuters.com time to read: +2 min

[1/5] Heavy machinery is used amid rescue operations after workers got trapped in a collapse of an under-construction tunnel, in Uttarkashi, in the northern state of Uttarakhand, India, November 26, 2023. REUTERS/Francis Mascarenhas Acquire Licensing RightsSILKYARA, India, Nov 26 (Reuters) - Indian rescuers began drilling vertically on Sunday from the top of a mountain under which 41 workers became trapped two weeks ago while working on a highway tunnel in the Himalayas, government officials said. The men, construction workers from some of India's poorest states, have been stuck in the 4.5-km (3-mile) tunnel being built in Uttarakhand state since it caved in early on Nov. 12. But rescuing them will take much longer than previously hoped as rescuers have switched to manual drilling following damage to the drilling machine, officials said on Saturday. Initially, the rescue plan involved pushing a pipe wide enough to pull the trapped men out on wheeled stretchers.

Persons: Francis Mascarenhas, Deepak Patil, Priyanka Chaturvedi, Mayank Bhardwaj, Nick Macfie Organizations: REUTERS, Authorities, Rescuers, Reuters, Sunday, Thomson Locations: Uttarkashi, Uttarakhand, India

☆ Black Friday 2023: Huge streaming deals from Hulu, Max and more
▼ + stars: | 2023-11-23 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Here are four streaming deals to keep an eye out for this Black Friday. It's a steep discount over the plan's normal $7.99 monthly price. The platform's Black Friday offer will get you a six month subscription at a price of $2.99 per month. That represents a total savings of $42 over the course of the deal versus the normal $9.99 monthly rate. The first will get you Peacock Premium for $1.99 per month for 12 months, $4 monthly discount from the normal $5.99 price tag.

Persons: Max, HBO Max, Peacock Organizations: Disney, Apple, Hulu, HBO, Peacock

☆ Full Exposure? Four Solo Shows Ponder the Art of True Nature.
▼ + stars: | 2023-11-21 | by ( Naveen Kumar | ) www.nytimes.com time to read: +2 min

Two years of post-shutdown theater has brought to New York stages a slew of solo performers wrestling with subjects like grief, death and the apocalypse — and those are just the comedies. Solo shows are inexpensive to produce and relatively low-lift endeavors for an industry still on shaky ground. There has been no shortage this fall, and now four solo shows running Off Broadway demonstrate a range of approaches to the form, proving, at least for this round, that baring your inner thoughts and fears pays off. “School Pictures” and “Amusements,” also at Playwrights Horizons, take the opposite tack, with performers who hold themselves at a distance to direct attention elsewhere, but with devices that can be distracting and evasive. Now she is nursing HPV and moving into a convent boardinghouse named for St. Agnes, the patron saint of virgins and sexual abuse survivors.

Persons: baring, “, ”, Waterwell, Lameece Issaq, Agnes, Peiyi Wong Organizations: Connelly, “, Playwrights, Playwrights Horizons, Yorker, St Locations: New York, East, Harpy, Midtown Manhattan

☆ Stock futures are little changed after tech powers S&P 500 to fifth straight winning day: Live updates
▼ + stars: | 2023-11-20 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City. Futures tied to the Dow Jones Industrial Average added 7 points, or 0.02%. S&P 500 futures gained 0.05%, while Nasdaq 100 futures ticked up 0.1%. The S&P 500 added 0.7%, and the Nasdaq Composite jumped 1.1%, marking the fifth positive day for the two indexes. The Nasdaq 100 , meanwhile, climbed about 1.2% and hit a 22-month high earlier in the day.

Persons: Dow, Sam Altman, Lowe's Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Microsoft, Nvidia, Traders, Federal, HP Locations: New York City

☆ The creepy AI-driven surveillance that may be infiltrating your workplace
▼ + stars: | 2023-11-20 | by ( Clem De Pressigny | ) www.businessinsider.com time to read: +15 min

For companies, EAI may be a gold mine. But that isn't stopping companies from using EAI to spy on their employees, determine how they feel, and identify who should be hired and who should be fired. HireVue, a Utah recruitment platform, began using EAI facial analysis in 2014 as part of its candidate interview process. EAI companies disagree. And if it can't, then companies using EAI to make decisions about hiring or firing someone could be entirely misguided.

Persons: EAI, Gabi Zijderveld, Smith, Zijderveld, Dow Jones, Sarah Myers West, Samu Hällfors, Framery, Hällfors, West, it's, Kat Roemmich, Roemmich, Paul Ekman's, Clem De Pressigny Organizations: Companies, Smart, CBS, Disney, Ikea, Dow, Oracle, Washington Post, Electronic Privacy, Center, LinkedIn, Nvidia, Looksery, Snap Inc, University of Michigan School of Information, Smart Eye Locations: Utah, Munich, Helsinki, Europe, American

☆ Cut your tax bill and revamp income-generating investments with this move
▼ + stars: | 2023-11-15 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Tax loss harvesting is a staple of year-end planning. Bonds are ripe for tax loss harvesting in the wake of the Federal Reserve's rate-hiking cycle. Consider that the longer-dated iShares 20+ Year Treasury Bond ETF (TLT) has a year-to-date total return of about -7.3%, while the shorter-term iShares Core US Aggregate Bond ETF (AGG) has a total return of roughly 0.7% in 2023, according to Morningstar. "Tax loss harvesting is a silver lining for some of the pain they've been feeling the last couple of years." Bonds and the wash sale rule To benefit from tax loss harvesting, investors must avoid violating the wash sale rule .

Persons: Bonds, Morningstar, Kristy Akullian, Jeffrey Levine, St . Louis, Levine, Jordan Naffa, Naffa, VGSH, Lisa, Kirchenbauer Organizations: Treasury Bond ETF, Bond, BlackRock, Internal, Strategic Wealth, Arista Wealth Management, Treasury, SEC, VGIT, Omega Wealth Management Locations: St ., Las Vegas, Arlington , Va

☆ Qatar Airways' new CEO — whose predecessor once said a woman couldn't do his job — wants to bring a culture of 'trust and empowerment' to the airline
▼ + stars: | 2023-11-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Qatar Airways has a new CEO after Akbar Al Baker was in charge for 27 years. Badr Mohammed Al-Meer wants "a culture of trust and empowerment" plus sustainable solutions. That could mark a change in tack from Al Baker, who often courted controversy. AdvertisementAdvertisementBadr Mohammed Al-Meer, Qatar Airways CEO. Al-Meer was previously the chief operating officer of Hamad International Airport in Doha, which is Qatar Airways' main base.

Persons: Akbar Al Baker, Badr Mohammed Al, Meer, Al Baker, — Organizations: Qatar Airways, Service, Hamad International Airport Locations: Al, Meer, Doha

☆ Elon Musk laid him off. Now he’s aiming to build a social network that’s better than X
▼ + stars: | 2023-11-07 | by ( Clare Duffy | ) edition.cnn.com time to read: +17 min

They wanted it to be everything most social media struggles to be: positive, safe and inclusive. And as the user base of the platform now known as X splinters, so does Black Twitter, the community of Black users that was a big part of Twitter’s growth and culture. Legacy social media platforms have repeatedly failed to anticipate how their products might be manipulated or misused until something goes wrong. Alphonzo Terrell, co-founder of the social media app Spill, demonstrates how the platform works during an interview with CNN. CNNEven with AI content moderation models, other social media companies often fail to catch harmful content that makes it onto their platforms.

Persons: Alphonzo Terrell, he’d, Terrell – who’d, –, Elon Musk, Terrell, DeVaris Brown, “, ‘, ’ ” Terrell, who’s, Brown, Musk, ”, Maya Umemoto Gorman, …, ” Terrell, Brown —, Kenya Parham, weren’t, Elon, Maya Iman ‘, they’ve, “ That’s, Alphonzo Terrell “, Paul Barrett, they’d, it’s, — don’t, Jalaiah Harmon, Taylor Lorenz, Latoya Lee, ” Lee Organizations: New, New York CNN, Twitter, Elon, CNN, Spill, Washington Post, HBO, Showtime, YouTube, Intel, Cisco, Microsoft, NYU Stern Center for Business, Human, Apple, Kapor Center, Social, Mac Venture, Netflix, Disney, Amazon Prime, VH1, Pew Research Center, New York Times, California State University Fullerton Locations: New York, Los Angeles, Kenya, Spill, Georgia

Mr. Adams, who typically takes great pains to distance himself from any investigation of people in his outer circle, took the opposite tack on Thursday. He abruptly canceled several meetings in Washington, D.C., where he was scheduled to discuss the migrant crisis with White House officials and members of Congress, and returned to New York. Appearing at Gracie Mansion on Thursday night, Mr. Adams said he wanted to be “on the ground” to “look at this inquiry” as it unfolded. His decision to return risked leaving the impression that he placed more importance on the investigation than the migrant crisis, and political experts said the mayor had allowed the raid to distract him from addressing a key policy goal. “This was an opportunity for him, literally and symbolically, to be in Washington with his tin can demanding more funds for New York.”

Persons: Adams, he’s, ”, Christina Greer Organizations: Washington , D.C, White, City College of New, New Locations: Washington ,, New York, City College of New York, Washington

Only after he was awkwardly pulled aside on stage and informed that he was in Sioux City did he make a correction. Trump's Sioux flub caught the attention of Florida Gov. “I don’t think he’s senile. A Trump spokesperson noted that Trump hasn’t criticized Biden directly on age, and Trump has long argued that Biden's problem isn't actually his age but his mental state. But when a reporter noted Trump’s actual age, neither woman saw it as problem.

Persons: —, Donald Trump, Joe Biden, Trump, Viktor Orbán, “, ” Biden, Biden, ”, Skylar Swan, it’s, Melody Crowder, Meyer, they’ve, they’re, ” Crowder, Cecelia S, Curtis, ” Curtis, Sioux flub, Ron DeSantis ’, Chris Christie, ” Christie, flubs haven't, Trump hasn’t, isn't, Harris, Josh Schwerin, Trump’s, ” Schwerin, Nikki Haley, Haley, Heidi Morin, ” interjected Kristin Brand, ” Brand, Janine Whitcomb, ” ___ Colvin Organizations: WASHINGTON, Hamas, Trump, Democratic, Republican, Associated Press, NORC, for Public Affairs Research, Davidson College, United State, Democrat, Biden, Florida Gov, Former New Jersey Gov, National, Fox News, Former South Carolina Gov, United Nations Locations: Hungarian, Turkey, U.S, Summerville , South Carolina, North Carolina, Iowa, United, Summerville, Sioux City , Iowa, Sioux Falls, South Dakota, Sioux City, Israel, Gaza, Derry , New Hampshire, Bourne , Massachusetts, Morin, Epping

☆ 9 Moves to Help You Pay Off Credit Card Debt
▼ + stars: | 2023-10-31 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +14 min

More than half of all Americans are currently aren’t managing to pay their credit card bills in full each month, J.D. Power found recently, helping explain why we now owe a record $1 trillion in credit card debt. Request an interest rate reductionCall each of your credit card issuers and ask for a lower APR, advises Todd Christensen, education manager with Debt Reduction Services, a nonprofit debt counseling agency. Work with a nonprofit credit counseling agencyIf you’re struggling to make the minimum credit card payment required each month or already behind, reach out to a nonprofit credit counseling service for assistance. These organizations, typically members of the Financial Counseling Association of America or the National Foundation for Credit Counseling, will review your finances and credit card debt to help you better manage your budget and repayments.

Persons: Kerri Anne Renzulli, Power, you’ve, You’ll, Experian, Beverly Harzog, ”, Todd Christensen, John Ulzheimer, you’ll, you’re, Bruce McClary, Says Organizations: Mint, Debt, Surveys, TK, nab, Consumer Financial, Financial, Association of America, National Foundation, Credit, Credit Counseling Locations: FICO

☆ The case for a career in bond investing
▼ + stars: | 2023-10-27 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

I sensed familiarity with the recent fate of fixed income benchmarks such as Austria’s hundred-year government bond. For this reason, when bond yields are low, the sensitivity of capital prices to inflation and interest rate shocks is high, and vice versa. The appreciating greenback has been a drag on much of the global fixed income universe for the past decade. The real reason to go into fixed income investing, I explained, is that you get to tell governments what to do. Now that the end of monetary anaesthesia has awoken fixed income from its 15-year coma, I told the MBA students, you’ve got your chance.

Persons: Bonds, That’s, Torsten Slok, GMO’s, Liz Truss, ”, Bill Clinton’s, James Carville, you’ve, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Treasury, Reuters Graphics Reuters, Apollo Global Management, U.S ., JPMorgan, Economist, UK, Thomson Locations: U.S, Venezuela

☆ U.S. Tries New Tack on Russian Disinformation: Pre-Empting It
▼ + stars: | 2023-10-26 | by ( Steven Lee Myers | More About Steven Lee Myers | ) www.nytimes.com time to read: +1 min

An article that appeared in August on an international news outlet, Pressenza, recycled a false Russian claim that the West was looting religious relics and art from a monastery in Ukraine’s capital, Kyiv, one of the holiest sites in Russian Orthodoxy. The article stands out, U.S. officials said, not because of what it claimed — but because of its source and intended audience. State Department officials have linked the article to what they describe as a covert information operation to spread Russia propaganda in Central and South America by producing articles that appear to originate with local media organizations, not the Russian government. The operation is nascent, but the department’s Global Engagement Center is disclosing the influence campaign in hopes of blunting its effect in a region where Russia has sought to discredit the United States and erode international support for Ukraine.

Organizations: State Department Locations: Ukraine’s, Kyiv, Orthodoxy, Russia, Central, South America, Russian, United States, Ukraine

KUALA LUMPUR, Malaysia (AP) — Environmental activists voiced disappointment Wednesday at Malaysia's decision to allow Lynas Rare Earths to continue operations until March 2026, and demanded more transparency on plans by the Australian miner to extract a radioactive element from its growing waste. It called for details of the Lynas study to be made public. While the government is keen to profit from the rare earths industry, this cannot be at the expense of people’s health and the environment, it added. Rare earths are 17 minerals used to make products such as electric or hybrid vehicles, weapons, flat-screen TVs, mobile phones, mercury-vapor lights and camera lenses. Lynas has said its refinery could meet nearly a third of world demand for rare earths, excluding China.

Persons: Lynas, Jan, Wong Tack, ”, Chang Lih Kang, Chang Organizations: —, Earth, Science, . Science Locations: KUALA LUMPUR, Malaysia, Pahang, Earth Malaysia, Malaysian, China, Lynas

☆ GM and Ford will answer to Wall Street and the UAW with third-quarter earnings this week
▼ + stars: | 2023-10-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

General Motors and Ford Motor report third-quarter earnings and future guidance this week amid ongoing strikes and contract negotiations with the United Auto Workers union. Patrick T. Fallon | AFP | Getty ImagesThe UAW has consistently used earnings reports and commentary from executives, including GM CEO Mary Barra and Ford CEO Jim Farley, to promote its efforts and collective bargaining. "If GM, Ford and Stellantis are still very profitable for the third quarter, [UAW's] going to claim that, 'They're being too cheap in bargaining, and they should give us more.'" GM has said the work stoppage cost it roughly $200 million in lost production in September. UAW impactJPMorgan estimates strike costs amounted to $145 million at Ford and $191 million at GM in terms of earnings before interest and taxes during the third quarter.

Persons: Jim Farley, Ford, Mary Barra, Patrick T, Fallon, Wheaton, Ford —, Shawn Fain, Wolfe, Rod Lache, Lache, EVs Organizations: General Motors Reuters, General Motors DETROIT, Motors, Ford Motor, United Auto Workers, GM, Ford, LSEG, UAW, Stellantis, Local, Chrysler Corporate, Division, AFP, Getty, Worker Institute, Cornell University, Ford Expedition, Lincoln, Detroit, Detroit automakers Locations: Ontario , California, Kentucky

☆ Will Sam Bankman-Fried take the witness stand? It would be dangerous — but he has little to lose.
▼ + stars: | 2023-10-19 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried needs to decide soon whether he'll take the witness stand in his criminal trial. AdvertisementAdvertisementCaroline Ellison testified in the trial of her ex-boyfriend, Sam Bankman-Fried JANE ROSENBERGFor that reason, the case against Bankman-Fried rests on the credibility of his alleged co-conspirators. In their own questioning of the cooperating witnesses, prosecutors have encouraged them to be open about taking responsibility for their crimes. Court sketch of Sam Bankman-Fried on the first day of his trial JANE ROSENBERG/ReutersIf Bankman-Fried takes the stand, he'll be cross-examined by prosecutors. If Bankman-Fried takes the stand, prosecutors will almost certainly point to more material and catch him in any contradictions.

Persons: Sam Bankman, he'll, he's, —, They're, Fried, Mark Cohen, Lewis Kaplan, who's, Cohen, He's, Caroline Ellison, Gary Wang, Nashad Singh, Sarah Krissoff, Cozen O'Connor, FTX, Mary Altaffer, Kaplan, Paul Tuchmann, Wiggin, Dana, Tuchmann, Adam Yedidia, Fried JANE ROSENBERG, Ellison, Wang, Singh, Bankman, Wang forthrightly, Ellison teared, slovenliness, Prosecutors —, Krissoff, JANE ROSENBERG, hedged, didn't, Judge Kaplan's, SBF Organizations: Service, Defense, US, Alameda Research, Former Alameda Research, AP, Prosecutors, Toyota Corolla, Reuters, ABC News, Alameda . Locations: Manhattan, Alameda, New York, FTX

☆ Guatemala Attorney General Determined to Block Arevalo From Office: Sources
▼ + stars: | 2023-10-19 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +4 min

By Sofia MenchuGUATEMALA CITY (Reuters) - Guatemala's attorney general, a steadfast opponent of President-elect Bernardo Arevalo, has crafted a complex strategy to weaken his mandate or prevent him from taking office, according to five sources with knowledge of the prosecutor's thinking. At the center is Attorney General Maria Consuelo Porras, who protesters blame for attempting to prevent Arevalo from taking office on Jan. 14. Anti-graft campaigner Arevalo won a shock landslide victory in August but has received a backlash from the political establishment. Luis Almagro, head of the Organization of American States (OAS), has said the actions of the attorney general's office had set "a shameful example." Blocking Arevalo from taking office would throw Guatemala into deeper turmoil, said Tamara Taraciuk, Rule of Law program director at the Inter-American Dialogue think-tank.

Persons: Bernardo Arevalo, Maria Consuelo Porras, Arevalo, Alejandro Giammattei, Porras, Porras's, Luis Almagro, Arevalo's, Jose Carlos Sanabria, Tamara Taraciuk, Sofia Menchu, Cassandra Garrison, Stephen Eisenhammer, Rod Nickel Organizations: Sofia Menchu, Sofia Menchu GUATEMALA CITY, Semilla, Prosecutors, Organization of American States, U.S . State Department, Inter Locations: Sofia, Sofia Menchu GUATEMALA, Guatemala, United States, Semilla's

☆ Risky biotech M&A therapy will heal more fractures
▼ + stars: | 2023-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +8 min

NEW YORK, Oct 19 (Reuters Breakingviews) - How can a suitor offering $1 billion see eye-to-eye with a seller asking for $2 billion? Such contingent value rights, or CVRs, are a way to get around the inherent uncertainty of an unproven drug. Its $74 billion takeover of Celgene in 2019 included a $6.4 billion payout dependent on a trio of drug approvals. There have been only 27 biotech market debuts this year, raising $2.2 billion, according to LSEG data. Given the nagging fissures in valuation perspectives, however, more dealmakers are apt to try this risky M&A therapy.

Persons: Schulman, Sidley, Bristol Myers, Myers, CVRs, Andrew Weisenfeld, IPOs, ”, Dan Lepanto, biopharma, Eli Lilly’s, Bristol Myers Squibb, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: Reuters, Dow, Marion Laboratories, LyondellBasell Industries, Mirati Therapeutics, JPMorgan, Sanofi, Health Partners, Nasdaq Biotechnology, Reuters Graphics Reuters, Reuters Graphics, Leerink Partners, Therapeutics, Public, Bristol Myers, U.S . Food, Drug Administration, Thomson Locations: Celgene, Genzyme, U.S

☆ Exclusive: China's Nio considers tapping dealers to boost EV sales in Europe - sources
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +4 min

But the company has started assessing dealers in key European markets, two of the sources said, after the company's president last month said sales in Europe were not meeting expectations. One person said Nio had found that Europe had its "peculiarities", without elaborating, and that the company was planning to expand into more European countries. Its Firefly project, however, is evaluating its channel model for Europe, including direct sales, agency or dealers. Nio, which ranks ninth by sales volume among manufacturers of electric and hybrid cars in China, does not break down its sales in Europe. Nio does not use dealers in China but instead relies on a direct sales model similar to one pioneered by Tesla (TSLA.O).

Persons: Annegret, Nio, Qin Lihong, Zhang Yan, Brenda Goh, Sonali Paul Organizations: REUTERS, Rights, HK, European Commission, Tesla, Thomson Locations: Berlin, Germany, HK, Europe, Norway, Netherlands, Sweden, Denmark, BYD, Nio, France, Italy, Hungary, Switzerland, Austria, China, Southeast Asia

☆ California's Newsom promoting Biden in '24 - and perhaps himself in '28
▼ + stars: | 2023-09-30 | by ( Joseph Ax | ) www.reuters.com time to read: +5 min

It was an increasingly familiar position for Newsom, who has emerged as perhaps the Biden re-election campaign's most visible representative. Newsom is near the top of a list that includes Vice President Kamala Harris, Michigan Governor Gretchen Whitmer and Pennsylvania Governor Josh Shapiro, among others. Senator Dianne Feinstein's death meant Newsom will have the job of naming a replacement to help protect Democrats' slim Senate majority. "It benefits Biden, and it benefits Newsom." Jane Kim, the California director of the liberal Working Families Party, said Newsom deserves credit for many of his achievements.

Persons: Gavin Newsom, Ronald Reagan, David Swanson, Wednesday's, Joe Biden, Newsom, Biden, Kamala Harris, Gretchen Whitmer, Josh Shapiro, Dianne Feinstein's, Harris, Steven Maviglio, Ron DeSantis, Sean Hannity, Jane Kim, We've, Representative Barbara Lee, Eric Schickler, Schickler, Joseph Ax, James Oliphant, Tim Reid, Jarrett Renshaw, Colleen Jenkins, Cynthia Osterman Organizations: Republican, Ronald Reagan Presidential, REUTERS, Democratic, Fox News, Democracy, California's Democratic, Families Party, U.S, Representative, University of California, Thomson Locations: Simi Valley , California, U.S, California, Michigan, Florida, Alabama, Arkansas, Long Beach , California, Berkeley

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