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☆ Huma, a London-based healthcare startup, just raised $80 million to offer new AI services using this 11-slide pitch deck
▼ + stars: | 2024-07-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Read previewHuma, an AI digital healthcare company, has raised $80 million in Series D funding. "AI is core to how we build scalable digital health solutions," Huma CEO Dan Vahdat, told Business Insider. "It is a challenging environment for digital health companies in general, particularly with the public markets being down," Vahdat added. The company's $80 million Series D funding round was raised by new and existing investors such as AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer. Check out Huma's 11-slide Series D pitch deck below:

Persons: —, Dan Vahdat, Huma, Sifted, Vahdat Organizations: Service, Business, Bayer, AstraZeneca, Hat Technology, HAT, Hitachi Ventures Locations: Swedish

☆ Investors want proof AI will aid drug discovery. Evidence may come in the second half
▼ + stars: | 2024-07-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Analysts who have been following companies on the cutting edge of using generative AI for drug discovery say it is still very early days. But these endorsements haven't lifted Recursion shares out of a slump. RXRX 1Y mountain Recursion shares over the past year. The drug company will be a beta user of Recursion's LOWE (Large Language Model-Orchestrated Workflow Engine) and the pair are also partnering on oncology research. SDGR 1Y mountain Schrodinger shares over the past year.

Persons: Scott Schoenhaus, Chris Gibson, Jensen Huang, Leerink, Mani Foroohar, Foroohar, Recursion's, KeyBanc's Schoenhaus, Needham, Gil Blum, it's, Recursion's LOWE, Blum, Eli Lilly, AbCellera, KeyBanc's, Schoenhaus, FactSet, Allison Bratzel, Piper Sandler, Goldman Sachs, Salveen Richter, Peter Lawson, Lawson, Japan's Takeda, Schrodinger, Leerink's Foroohar Organizations: Analysts, Capital, Nvidia, ARK Investment Management, REC, CCM, Union, Bayer, Therapeutics, Dynamo, RLY, Barclays, Japan's Locations: U.S, biopharma, Biohive

☆ This new photo of a supermassive black hole is unlike any before, showing powerful magnetic fields spiraling around it
▼ + stars: | 2024-03-27 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Read previewThe supermassive black hole at the heart of our galaxy has a side you've never seen before. A new image reveals powerful magnetic fields swirling around our hometown black hole, which is called Sagittarius A* (pronounced "A-star"). EHT had previously imaged its first black hole, Messier 87, in polarized light as well, though it doesn't look quite as striking:The Messier 87 supermassive black hole imaged in polarized light. EHT CollaborationSince both black holes have similar structures of magnetic fields, despite their immense difference in size, the EHT scientists now suspect that all supermassive black holes might have magnetic structures like this. Bigger black hole breakthroughs may be in storeFurther imaging with new innovative techniques and technologies could reveal even more secrets of supermassive black holes, both big and small.

Persons: —, EHT, Sara Issaoun, Issaoun, We've, NASA's, Michael Johnson, Johnson, that's Organizations: Service, Business, Messier, Harvard, Smithsonian Center for Astrophysics, NASA's Goddard Space Flight, American Astronomical Society Locations: Greenland

☆ Webb telescope reveals new details in Milky Way’s heart
▼ + stars: | 2023-11-20 | by ( Ashley Strickland | ) edition.cnn.com time to read: +3 min

CNN —The James Webb Space Telescope has looked into the heart of the Milky Way galaxy, unveiling new features and mysteries within the chaotic region that could help astronomers unravel more details about the early universe. Astronomers used Webb to glimpse Sagittarius C, or Sgr C, an active region of star formation located about 300 light-years from the galaxy’s central supermassive black hole Sagittarius A*. A light-year, equivalent to 5.88 trillion miles (9.46 trillion kilometers), is how far a beam of light travels in one year. Astronomers are still trying to determine what has created the vast amount of energized gas, which surpasses what would normally be released by young massive stars. “Webb has provided us with a ton of data on this extreme environment, and we are just starting to dig into it.”

Persons: James Webb, Webb, ”, Samuel Crowe, “ There’s, ” Crowe, “ Webb, ” Young, Jonathan Tan, Rubén Fedriani Organizations: CNN, NASA, University of Virginia, Instituto Locations: Andalucía, Spain

NAIROBI, Kenya (AP) — Kenya’s President William Ruto sought $1 billion more in loans from China Monday, despite rising public debt that has now reached $70 billion in the Eastern African country, according to National Treasury figures for 2022/2023. President Ruto was was one of a number of global leaders in Beijing to attend the tenth anniversary meeting of China’s Belt and Road Initiative, the ambitious plan that aims to connect Africa, Asia and Europe through massive infrastructure and energy projects. Kenya has been struggling with ballooning public debt, with $6 billion owed to Chinese creditors, according to national data. However, it’s not clear if President Ruto and his delegation will be granted a restructuring or extension of the interest payments. Last week, legislators tabled a motion asking the government to reveal details of all the loans it had accumulated since President Ruto came into power in September 2022.

Persons: — Kenya’s, William Ruto, Ruto, Hussein Mohammed, “, ”, SGR, Rigathi Gachagua, Kenya SGR, Aly Khan Satchu, it’s, ” Satchu Organizations: National Treasury, Initiative, Kampala, Kenyan Locations: NAIROBI, Kenya, China, Beijing, Africa, Asia, Europe, Mombasa, Nairobi, Uganda, Central Africa, Turkish, Congo, Satchu

☆ Asia stocks slip as US CPI fails to enthuse; dollar up
▼ + stars: | 2023-08-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. The yen touched a six-week low of 144.89 per dollar in early trade on Friday, though volumes were thinned owing to a public holiday in Japan. Its stock markets were closed and Treasuries went untraded in the Asia session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% lower and headed for a 1% weekly loss. In stock markets, Chinese property stocks were taking a fresh beating on giant developer Country Garden (2007.HK), which is struggling with its debts, forecasting a $7.6 billion net loss in the first half.

Persons: Issei Kato, Treasuries, Mary Daly, Andrew Lilley, Sally Auld, JB, Tom Westbrook, Muralikumar Organizations: REUTERS, U.S ., Headline U.S, CPI, San Francisco Fed, Yahoo Finance, U.S . Treasury, HK, Star Entertainment, Chevron, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Sydney, New York, Hong Kong, Alibaba, HK, New South Wales, Woodside, WDS.AX

☆ Uganda to reopen century-old rail link after China fails to fund new line
▼ + stars: | 2023-08-04 | by ( Elias Biryabarema | ) www.reuters.com time to read: +2 min

The line, which has been out of use for roughly 40 years, is part of the East Africa rail network that stretches from Kenya's Indian Ocean seaport of Mombasa. It was built by Kenya and Uganda's former colonial ruler Britain around the beginning of the 20th-century. Uganda decided to revamp the old network after plans to build a separate modern standard gauge railway (SGR) failed to secure financing from China. The European Union funded construction of the Gulu hub, completed in late 2021, as part of the effort to revamp Uganda's railway network, which fell into disrepair during the country's economic collapse in 1970s and early 80s. Ugandan officials hope once the link is restored, rail will replace trucks in shipping transit goods to South Sudan and northeastern Democratic Republic of Congo.

Persons: Thomas Mukoya, John Linnon Sengendo, Sengendo, Elias Biryabarema, George Obulutsa, Barbara Lewis Organizations: REUTERS, Democratic, Uganda Railways Corporation, Reuters, China Harbour, Engineering Company, Bridge Corporation, European Union, Thomson Locations: Kenya, Uganda, Kibera, Nairobi, South Sudan, DRC Kenya, KAMPALA, Democratic Republic of Congo, East Africa, Mombasa, Britain, China, Ugandan, Tororo, Uganda's, Gulu, Kampala

☆ Factbox: Penalties imposed on Australian companies over the recent years
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +3 min

Here are some of the major penalties imposed by the regulators:AMP LTD (AMP.AX)Troubled Australian wealth manager AMP Ltd was fined a court-mandated penalty of A$24 million in May for billing dead clients for insurance and financial advice. In October 2022, ANZ was penalised A$25 million for failing to provide certain benefits it had agreed to give customers. In October 2022, CBA's trading unit was fined A$20 million for compliance failures in delivering financial services. NATIONAL AUSTRALIA BANK (NAB.AX)National Australia Bank, the country's second-largest bank, was charged A$18.5 million penalty in August 2021 by a court for issuing misleading fee disclosure statements or none at all. WESTPAC BANKING CORP (WBC.AX)Australia's third-biggest lender, Westpac Banking Corp was ordered to pay A$113 million in penalties in April 2022 for multiple compliance failures across its businesses.

☆ New image reveals violent events near a supermassive black hole
▼ + stars: | 2023-04-26 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/2] This image shows the jet and shadow of the black hole at the center of the M87 galaxy together for the first time. The supermassive black hole pictured resides at the center of a relatively nearby galaxy called Messier 87, or M87, about 54 million light-years from Earth. This black hole, with a mass 6.5 billion times that of our sun, was the subject of the first image of such an object ever obtained, released in 2019, with another black hole pictured last year. Seeing the entire scene in the vicinity of a supermassive black hole can be insightful. The EHT project has yielded the images of the two supermassive black holes.

☆ Scientists unveil new and improved 'skinny donut' black hole image
▼ + stars: | 2023-04-13 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

WASHINGTON, April 13 (Reuters) - The 2019 release of the first image of a black hole was hailed as a significant scientific achievement. There is also a larger "brightness depression" at the center - basically the donut hole - caused by light and other matter disappearing into the black hole. This supermassive black hole resides in a galaxy called Messier 87, or M87, about 54 million light-years from Earth. The M87 black hole image stems from data collected by seven radio telescopes at five locations on Earth that essentially create a planet-sized observational dish. "The image we report in the new paper is the most accurate representation of the black hole image that we can obtain with our globe-wide telescope."

The capital raising, comprising a A$685 million 3-for-5 rights offer and a A$115 million institutional placement, will help Star repay debt and increase liquidity, the company said on Thursday. It had a net debt of A$1.11 billion as of end-2022. The shares in the capital raising are being sold at A$1.20 each, 21% below Star's latest closing price of A$1.52. Major shareholders Chow Tai Fook Enterprises and Far East Consortium (0035.HK) have taken up their rights entitlements and committed $80 million to the capital raising, Star said. Star shares are in a trading halt Thursday while the capital raising is underway.

☆ Star to raise $544.24 mln in equity amid regulatory uncertainties
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Casino operator Star Entertainment Group (SGR.AX) said on Thursday it was looking to raise A$800 million ($544.24 million), even as the embattled firm tries to recover from regulatory concerns and impairment charges. "While the outcome of regulatory and other matters creates material uncertainty as to the Group's ability to remain a going concern, the Group is likely to be able to meet its liabilities as and when they fall due over the next 12 months," the second largest Australian casino operator said. The capital raise will include a A$685 million entitlement offer and a A$115 million institutional placement, Star said, adding the balance of the equity raising is underwritten. Adding to its relief efforts, Star said it will continue to pursue the recycling of non-core assets, including the sale of its Treasury buildings which are expected to contribute about A$233.0 million in additional cash. ($1 = 1.4699 Australian dollars)(This story has been refiled to remove extraneous $ sign in paragraph 4)Reporting by Roushni Nair in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Star Entertainment's first-half statutory loss widens
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Star Entertainment Group's (SGR.AX) first-half statutory loss widened, the casino operator said on Thursday, as it navigates through regulatory concerns and costs related to compliance procedures. The company's earnings took a hit from the increased regulatory restrictions at its Sydney operations from mid-September, and rise in competition since the opening of Crown Resort's Sydney operations in August after the New South Wales (NSW) regulator granted it a licence. Star said it "continues to pursue the recycling of non-core assets, including the Treasury buildings," adding that the asset is expected to contribute A$233.0 million in additional cash. The second largest Australian casino operator posted statutory net loss after tax of A$1.26 billion ($858.19 million) for the six months ended Dec. 31, compared with A$74.2 million in losses last year. The firm, however, posted A$43.6 million in normalised net profit after tax for first-half, compared with A$73.7 million in losses last year.

☆ Australia's Star Entertainment sees up to $1.1 billion hit from tax change; shares plunge
▼ + stars: | 2023-02-12 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

Star Entertainment said it would incur remediation costs of about A$20 million during the six months ended Dec. 31, 2022, as it attempts to "improve compliance processes as the group seeks to return to licence suitability". Star Entertainment shares slumped almost 11% to A$1.67 in early trading. The casino operator on Monday also announced a number of initiatives, including loyalty benefits and pricing actions, to respond to competition in Sydney, where its bigger rival Crown Resorts operates. The initiatives would likely contribute about A$40 million on an annualised basis to the operating performance, Star Entertainment said. It expects underlying earnings before interest, taxes, depreciation and amortisation within A$195 million to A$205 million in its first-half results.

☆ Australia's Star Entertainment sees up to $1.1 bln hit from tax change; shares plunge
▼ + stars: | 2023-02-12 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

☆ GAM expects a net loss of around $336 mln for 2022
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Jan 25 (Reuters) - GAM (GAMH.S) expects to report a net loss after tax of approximately 309.9 million Swiss francs ($335.83 million) for the full year 2022, after experiencing negative asset flows, the Swiss asset manager said on Wednesday. The group said it also expects to report an underlying pre-tax loss of approximately 42.8 million Swiss francs. "2022 was a challenging year with our financial results seeing the impact from a market-led decline in our assets under management," GAM's Chairman David Jacob said. Vontobel analyst Andreas Venditti said 2022 was a challenging year for the asset management industry and said he welcomed the news of GAM's planned strategic update. In December it was reported that GAM had hired bankers from UBS (UBSG.S) to explore strategic options, including a possible sale.

☆ Pictures of the year: Space
▼ + stars: | 2022-12-08 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

The first image of Sagittarius A* (or Sgr A* for short), the supermassive black hole at the center of our galaxy, captured by the Event Horizon Telescope (EHT), an array which linked together radio observatories across the planet to form a single...moreThe first image of Sagittarius A* (or Sgr A* for short), the supermassive black hole at the center of our galaxy, captured by the Event Horizon Telescope (EHT), an array which linked together radio observatories across the planet to form a single "Earth-sized" virtual telescope. The new view captures light bent by the powerful gravity of the black hole, which is four million times more massive than our Sun. EHT Collaboration/National Science FoundationClose

☆ Australian regulator begins civil lawsuit against Star Entertainment
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Star Entertainment Group (SGR.AX) said Australia's financial crimes regulator has begun a civil lawsuit against it over allegations of failure to comply with disclosure norms in relation to anti-money laundering and counter-terrorism financing rules. The Australian Transaction Reports and Analysis Centre (AUSTRAC) will commence civil penalty proceedings against two of Star's units, The Star Pty and The Star Entertainment Queensland Ltd, the casino operator said on Wednesday. Star, however, said AUSTRAC did not specify the damages it was seeking from the said lawsuit. Star's shares have dropped 28.8% in a year marked with investigations and scrutiny of its operations over its alleged failure to prevent money laundering and criminal activity. Reporting by Tejaswi Marthi in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Crown Resorts fined $77 million by regulators
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Nov 7 (Reuters) - Australian casino operator Crown Resorts has been fined A$120 million ($77.3 million) for serious misconduct, regulators of the state of Victoria said on Monday. Some of the breaches included failing to prevent gambling harm by allowing players to gamble continuously for 12 hours or more without observation or interaction, with some customers allowed to gamble continuously for well over 24 hours, it said. The casino operation also allowed large numbers of customers in the problem gambling category to escape attention, the report added. Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. read more($1 = 1.5533 Australian dollars)Reporting by Praveen Menon and Byron Kaye; Editing by Himani Sarkar and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Star Entertainment faces second class action suit over compliance
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Australian casino operator Star Entertainment Group Ltd (SGR.AX) on Monday said it faces a second class action lawsuit over allegations of failure to comply with disclosure requirements regarding anti-money laundering and counter-terrorism financing rules. The class action, filed by law firm Maurice Blackburn, alleges that between March 29, 2016 and March 16, 2022, Star made misleading representations about its systems and processes for compliance with anti-money laundering and counter-terrorism financing obligations, Star said in a statement. The lawsuit also accuses Star of failing to disclose relevant information to the market and "conducted its affairs contrary to the interests of the members of The Star as a whole", according to the statement. Star said it will defend itself against the class action, adding that the claim was "substantially similar" to the class action filed by another law firm Slater & Gordon (SGH.AX) in March earlier this year. Reporting by Sameer Manekar in Bengaluru; Editing by Daniel Wallis and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Star says regulator-named manager to run Sydney casino
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Star's Sydney casino license to be suspended on Oct. 21Manager appointed for Sydney casino for 90 daysFine after Star failed to prevent money laundering, criminal activityStar fined $62 million as part of disciplinary actionSYDNEY, Oct 17 (Reuters) - Australia's Star Entertainment Group (SGR.AX) said on Monday a regulator-appointed manager would be stepping in to run its Sydney casino after an investigation by an independent commission found it had failed to prevent money laundering and criminal activity. The firm was fined A$100 million ($62 million) by the New South Wales Independent Casino Commission (NICC), which also suspended its license to operate the casino in Sydney, effective Oct. 21, Star said in a statement. Register now for FREE unlimited access to Reuters.com RegisterThe suspension period will be crucial for Star to prove its merit to hold a casino license. Weeks' authority as a manager of Star's assets are limited to the operational needs of the casino. Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections.

☆ Australia casino firm Star to be fined $62 million following inquiry
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Oct 17 (Reuters) - Australian casino firm Star Entertainment Group (SGR.AX) was fined A$100 million ($62 million) on Monday following an independent inquiry which found it failed to prevent money laundering and criminal activity in its Sydney casino. The New South Wales Independent Casino Commission (NICC) also cancelled Star's licence to operate the Sydney casino effective Friday, and will appoint a person to manage the casino pending the return of its licence. "The appointment of the manager means that the Star Casino will remain open and all staff will remain employed," NICC Chief Commissioner Philip Crawford said during a media conference. The decision to slap Star with the maximum fine possible comes on the first day on the job for Star's new chief executive, Robbie Cooke. Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections.

☆ Australia casino firm Star to be fined $62 million following inquiry, Sydney Morning Herald reports
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Oct 17 (Reuters) - Australian casino firm Star Entertainment Group (SGR.AX) will be fined A$100 million ($62 million) after an inquiry found it failed to prevent money laundering and criminal activity in its Sydney casino, the Sydney Morning Herald reported. The New South Wales Independent Casino Commission (NICC) will hand down the decision on Monday, the newspaper reported on Sunday, citing unidentified sources. The report said it had identified "systemic governance, risk and cultural failures" at the Sydney casino of Star, Australia's second-biggest casino operator. Neighbouring Queensland state this month declared Star was unsuitable for a gambling licence after an inquiry found it concealed illegal Chinese wagering payments and lured problem gamblers. Australia's casino sector was put under intense scrutiny over the last three years after media reports accused Star's larger rival Crown Resorts Ltd of money laundering, prompting some states to launch inquiries.

☆ Italy's Satispay valued at over 1 bln euro after raising 320 mln euros
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

ROME, Sept 28 (Reuters) - Satispay, Italy's mobile app payments startup, said on Wednesday it is now valued at more than 1 billion euros ($955 million) after raising 320 million euros in a new round of investments. U.S. investment firm Addition has become the lead investor in the company, which can now boast "unicorn" status. Venture capital firm Greyhound Capital, a shareholder since 2018, also increased its stake, a company statement said. The new investments will allow Satispay to become "the next leading payment network in Europe," said company co-founder and CEO, Alberto Dalmasso. ($1 = 1.0473 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Alvise Armellini Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

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