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NEW YORK, Jan 10 (Reuters Breakingviews) - Microsoft (MSFT.O) is mulling a heads-I-win, tails-I-also win, AI deal. A mooted $10 billion investment, reported by Semafor, in the maker of the popular ChatGPT, could reshape Microsoft’s software business. And the investment is a pittance compared to Microsoft’s market capitalization of $1.7 trillion and $107 billion of cash on hand. Even then, Microsoft’s investment may not be wasted. The proposed investment means OpenAI can grow its business faster, which also benefits Azure, a part of Microsoft that investors value highly.

☆ Private equity acquires a taste for drug development
▼ + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com time to read: +6 min

Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.

☆ Sky spinoff is Comcast’s least-bad option
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.

☆ Miami Mayor Francis Suarez voted for DeSantis in 2022 after supporting his Democratic opponent 4 years ago and not voting for Trump in 2020
▼ + stars: | 2022-12-29 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Miami Mayor Francis Suarez voted for DeSantis for governor after supporting his challenger in 2018. Ron DeSantis' victory in Miami-Dade County included support from at least one high-profile politician who didn't vote for him four years ago: Miami Mayor Francis Suarez. In 2018, Suarez, a Republican, voted for DeSantis' Democratic challenger, then-Tallahassee Mayor Andrew Gillum. Miami mayor Francis Suarez Lynne Sladky/APSuarez has been forthcoming about certain areas in which he and DeSantis disagree. Suarez told Punchbowl News in October that he'd consider a presidential run, but told Insider on Wednesday that he wasn't close to making a decision.

☆ Don’t want that item? Returning it could cost you
▼ + stars: | 2022-12-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

It could cost you to return it online. Shoppers have become accustomed to free shipping and free returns in recent years, but Zara, H&M, J.Crew, Anthropologie, Abercrombie & Fitch and other chains are now slapping on fees of up to $7 to return items online. That’s a strain on retailers: For every $1 billion in sales, the average retailer incurs $165 million in merchandise returns, according to the NRF. Charging customers for online returns is just one of the ways retailers are trying to crack down on the cost of returns and prevent clothes from piling up in warehouses. Others are mulling a “returnless refund” policy, where they hand customers their money back and let them keep or donate items they don’t want.

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☆ Some US security officials are considering calling for TikTok owner ByteDance to sell US unit, report says
▼ + stars: | 2022-12-26 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +2 min

Members of the US government are reportedly mulling whether to call for TikTok's US unit to be sold. Ongoing "security concerns" about TikTok are behind the thinking, the Wall Street Journal reported. TikTok is working to "address all reasonable national security concerns," a representative told Insider. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Security officials who are part of the Committee on Foreign Investment in the U.S. have been considering such a plan, the Wall Street Journal reported.

☆ Hutchinson says he’ll decide 2024 run early next year: Trump has ‘accelerated everyone’s timeframe’
▼ + stars: | 2022-12-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +1 min

Asa Hutchinson, an outspoken Republican critic of former President Donald Trump, said Sunday that Trump’s early 2024 re-election announcement has fast-tracked potential GOP challengers’ timeframes for declaring their own bids. In an interview on NBC News’ “Meet the Press,” Hutchinson said Trump has “accelerated everyone’s timeframe” after he launched a campaign last month to reclaim the Oval Office. Hutchinson, who is leaving the gubernatorial office next month and mulling a 2024 presidential campaign, said he expects he'll make a decision in the "first part" of 2023. Hutchinson also took aim at Florida Gov. Hutchinson added, “I mean, any leader, former president that says suspend the Constitution is tearing at the fabric of our democracy."

☆ These are the top 10 stock plays for 2023, according to UBS
▼ + stars: | 2022-12-14 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +5 min

As the year winds down, investors are looking forward to 2023 and wondering where they should place their top bets. Analysts that cover companies are mulling the same question, prompting UBS to put together a list of its top conviction picks for 2023. The stock which is poised for the largest gain is Kymera Therapeutics , a biotechnology firm that UBS thinks could surge 240% to its target price. She added that UBS expects updates across all four programs in the near term as well as over 2023. Analysts that cover companies are mulling the same question, prompting UBS to put together a list of its top conviction picks for 2023.

☆ Ron DeSantis outflanks Trump on the right with his call for Covid vaccine probe
▼ + stars: | 2022-12-13 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Ron DeSantis was positioning himself to get to the right of the former president over the issue of Covid vaccines. DeSantis, who is mulling whether to challenge Trump in the 2024 Republican primary for president, deepened those suspicions Tuesday. That’s his record,” said Roger Stone, a longtime adviser to Trump and an outspoken critic of DeSantis. The poll also showed DeSantis ahead of President Joe Biden in a theoretical general election matchup by 47%-43%, but Biden topped Trump 47%-40%. “So the only option for DeSantis to pose a challenge to Trump is to attack him on the vaccine.

☆ Breakingviews: Sam Bankman-Fried lacks cover of systemic risk
▼ + stars: | 2022-12-13 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Dec 13 (Reuters Breakingviews) - Sam Bankman-Fried couldn’t be blamed for mulling over past financial scandals with a degree of envy. The former boss of bankrupt crypto exchange-cum-hedge-fund FTX was arrested on Monday in the Bahamas at the request of U.S. prosecutors. No senior executives ended up facing criminal charges, or were hauled off in handcuffs even, though several Libor traders went to jail. loadingCONTEXT NEWSSam Bankman-Fried, the former chief executive of now-bankrupt crypto firm FTX, was arrested in the Bahamas on Dec. 12. The attorney general’s office for the Caribbean state said it took Bankman-Fried into custody after receiving formal confirmation of criminal charges from U.S. prosecutors.

☆ Kyrsten Sinema leaving the Democratic Party and registering as an independent
▼ + stars: | 2022-12-09 | by ( Jeremy Herb | ) edition.cnn.com time to read: +9 min

CNN —Arizona Sen. Kyrsten Sinema is leaving the Democratic Party and registering as a political independent, she told CNN’s Jake Tapper in an exclusive TV interview. While Sanders and King formally caucus with Democrats, Sinema declined to explicitly say that she would do the same. She also brushed aside criticism she may face for the decision to leave the Democratic Party. “Nothing about the last two years indicates a major effort would’ve made helped – the exact opposite actually,” a White House official said. After a vote against filibuster changes in January, the Arizona Democratic Party’s executive board censured Sinema.

☆ Putin Calls Oil Price Cap 'Stupid,' Says Russia Is Mulling Output Cut
▼ + stars: | 2022-12-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia is considering slashing its oil production in response to the Western price cap, Vladimir Putin said on Friday. The Russian president also said Moscow wouldn't be financially affected by the price cap, calling the mechanism "stupid." If Russia cuts output, it could spur volatility and send crude prices higher, experts have warned. Putin added that Russia's finances wouldn't be hit by the new measures and the West's implementation of a price cap was "stupid," Reuters reported. He also warned energy prices would "skyrocket" for any countries that participated in the price cap.

☆ Face masks come back to forefront amid triple threat of Covid-19, flu, RSV
▼ + stars: | 2022-12-08 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +9 min

Local officials mulling over masksThe US Centers for Disease Control and Prevention offers specific guidance on when masking is recommended based on its Covid-19 community levels. The agency says that people may choose to wear masks at any time but that a “high-quality mask or respirator” is recommended for everyone when a county has a “high” Covid-19 community level. As of Thursday, about 5.66% of US counties have high community levels, including some places in Arizona, Wyoming, Oregon and the Dakotas. Even without a mandate, she emphasized community efforts like wearing masks inside when possible and getting Covid-19 vaccines or boosters. “We do know that 5% of the population is living in places with a high Covid-19 community level.

☆ Russia's central bank just issued a warning about 'new economic shocks,' and it shows the new $60/barrel cap on oil is working
▼ + stars: | 2022-12-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The price cap on Russian crude and EU's oil embargo present "new economic shocks," the Bank of Russia said. They could "significantly reduce" Russia's economic activity in the coming months, per the bank. Russia is mulling options to counter the price cap, including banning oil sales to some countries. The European Union, G7, and Australia have set a price cap for Russian crude that kicked in on Monday. On top of that, the EU has also banned all seaborne Russian crude.

The Chinese pharmaceutical giant may revive a buyout of its 32%-owned traditional medicine arm listed in Hong Kong. The state-backed group's latest bid for China Traditional Chinese Medicine (0570.HK) looks generous. China TCM's woes are a stark contrast to mainland-listed rivals, including some with heavy exposure to drugs presented as fixes to Covid-19. Assuming some of that enthusiasm can rub off on China TCM, that makes Sinopharm's latest offer look like a steal. Follow @mak_robyn on TwitterloadingCONTEXT NEWSSinopharm is considering reviving a bid for China Traditional Chinese Medicine Holdings, Bloomberg reported on Dec. 7, citing people familiar with the matter.

“And the pulse oximeter is used from any age to geriatrics,” he said. The US Food and Drug Administration is mulling over next steps for the regulation of pulse oximeter devices, which may give less accurate readings for people of color. A panel of its Medical Devices Advisory Committee met in November to review clinical data on the issue. “I think of the pulse oximeter reading in the same way. Of course this can be dangerous.”Ultimately, the pulse oximeter can estimate the amount of oxygen a person has in their blood without the need for a blood sample.

WASHINGTON, Dec 3 (Reuters) - President Joe Biden's administration is mulling a proposal from Republican leader Kevin McCarthy to repeal the U.S. military's COVID-19 vaccine mandate, the White House said on Saturday. But the White House said Biden had agreed only to consider the idea. "Leader McCarthy raised this with the president and the president told him he would consider it," said White House spokesperson Olivia Dalton. McCarthy presented the vaccine mandate deal as a sign of how he would lead the House as speaker. He also rebutted conservative criticism over his attendance at a White House state dinner for French President Emmanuel Macron.

But neither incoming hard economic numbers nor many senior policymakers have fully bought into the recession idea just yet. But not all think a soft landing is out of the question. JP Morgan's Bruce Kasman said his "baseline" is the lagged effect of Fed tightening does eventually drag the U.S. economy into recession late next year. But he also said it was a "mistake to rule out a soft landing scenario." by Mike Dolan, Twitter: @reutersMikeD; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Florida mulls U-turn on move to strip Disney theme-parks of self-governing status - FT
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

The new law would also mean that Disney would have to pay more taxes, state governor Ron DeSantis had said in April when he signed the bill. read moreThe state lawmakers are working on a compromise that would allow Disney to keep the arrangement largely in place with a few modifications, the FT reported. The bill signed in spring this year by governor Ron DeSantis eliminates special governing jurisdiction that allowed the company to operate Walt Disney World Resort as its own city. The bill to strip Disney of its self-governing authority was signed soon after and was seen as an attack on the company for its political stance. Representatives for Disney and Florida governor Ron DeSantis did not immediately respond to a Reuters request for comment.

☆ Eni’s $6 bln Neptune swoop will be a haggle-fest
▼ + stars: | 2022-12-01 | by ( George Hay | ) www.reuters.com time to read: +3 min

LONDON, Dec 1 (Reuters Breakingviews) - Eni (ENI.MI) is hunting for a bargain in the North Sea. Italy’s $52 billion oil major is mulling a bid for oil and gas producer Neptune Energy, Reuters reported on Wednesday, for an equity value of around $5 billion to $6 billion. Given Neptune’s owners CVC Capital Partners, Carlyle (CG.O) and China Investment Corporation last year wanted to list the business for $10 billion, Eni may have to haggle a bit. The UK government recently extended its windfall tax on North Sea drillers to 2028. And the Italian group’s own North Sea expertise may help it argue that the mooted offer price is generous.

☆ Supreme Court Weighs Limits in Fraud Prosecutions
▼ + stars: | 2022-11-28 | by ( Jan Wolfe | Jimmy Vielkind | ) www.wsj.com time to read: 1 min

WASHINGTON—The Supreme Court heard arguments Monday in a set of public-corruption cases that shook up New York politics, with the justices mulling whether to limit how federal prosecutors can pursue fraud cases nationwide. The court heard two cases emerging from former U.S. Attorney Preet Bharara ‘s crackdown on what he called a “show-the-money culture in Albany” during the tenure of former Democratic Gov. Andrew Cuomo . Mr. Cuomo, who resigned from office in August 2021, wasn’t accused of wrongdoing in the cases, but they cast a shadow over his governorship.

☆ Over 60% of people who shop online are 'bracketing' their online purchases — and it's creating a logistical nightmare for retailers
▼ + stars: | 2022-11-28 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

"Bracketing" is the practice of buying the same item online in multiple sizes or colors. It's increased with the rise of e-commerce: 63% of shoppers reported bracketing in a 2022 survey. With the holiday shopping season in full swing, retailers are bracing for what at this point is practically an e-commerce tradition: bracketing. Bracketing is especially prevalent when retailers offer free shipping and free returns because customers deem the practice low risk. Bracketing probably isn't a totally fixable problem, but there are some ways retailers can prevent customers from making so many returns.

☆ Justice Department looks to question Pence regarding their criminal probe into Trump's efforts to overturn 2020 election: NYT
▼ + stars: | 2022-11-23 | by ( John L. Dorman | C. Ryan Barber | ) www.businessinsider.com time to read: +3 min

The DOJ is looking to question Pence in their criminal probe of Trump's efforts to stay in office, per the NYT. The former VP views the Justice Department's criminal probe as apart from the House committee investigating the January 6, 2021, attack on the Capitol, which he declined to testify before. But Pence has a different view of the Justice Department inquiry because it is a criminal investigation, the New York Times reported, citing people familiar with the former vice president's thinking. After making initial appearances before the grand jury, Short and Jacob both returned to testify after the Justice Department contested Trump's executive privilege claims in a closed-door court proceeding. The former vice president cooperating in the investigation would be a remarkable development, as Trump has already announced a 2024 presidential campaign and Pence is considering a campaign of his own.

☆ Any future tax breaks for big corporations must also come with restarting monthly checks to parents, 58 members of Congress say
▼ + stars: | 2022-11-21 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

In a letter, 58 members of Congress said any corporate tax breaks should be coupled with extended credits for families. The expanded Child Tax Credit and Earned Income Tax Credit both drastically decreased poverty during the pandemic. However, monthly CTC checks to parents wound down last year amid disagreements in Congress. That includes bringing back more generous monthly Child Tax Credit checks and extending the expanded Earned Income Tax Credit, a suite of new tax measures that drastically reduced poverty after being included in President Joe Biden's initial stimulus package. However, Congress failed to renew the child tax credit when negotiations over the Build Back Better Act stalled, leaving some families struggling after the monthly checks ended in December 2021.

☆ Morning Bid: Bucking the trend
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +4 min

With an anxious look at China's worsening COVID surge, the U.S. dollar appears revitalized just as speculators turn against it for the first time this year. Peak interest rates, peak COVID, peak energy all get discussed as themes for 2023, along with recession risks, a return of bonds and a cresting of the supercharged dollar - which has already given back almost half its near 20% surge this year. With one eye on Federal Reserve meeting minutes later in the week, futures markets continue to nudge peak Fed rates next year further above the 5% level. Also anxious about the unfolding property bust, China's central bank and banking and insurance regulator said domestic banks should step up credit support for the economy. The dollar also got a lift from the widening crypto shock, with bitcoin falling back below $16,000 on Monday.

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