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☆ The Fed is excessively data-dependent, says Mohamed El-Erian
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is excessively data-dependent, says Mohamed El-ErianMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss whether the Federal Reserve is still data-dependent, what the yield curve inversion means for the economy, and more.

☆ Watch CNBC's full interview with Allianz's Mohamed El-Erian
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Allianz's Mohamed El-ErianMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss whether the Federal Reserve is still data-dependent, what the yield curve inversion means for the economy, and more.

☆ A Simple Trick Helped Me Cut Back on Screen Time, Break My Phone Addiction
▼ + stars: | 2023-03-05 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +13 min

To try and break my habit, I decided to slow down my phone experience with a new app called One Sec. Plus, studies have shown that things like app limits that merely measure your screen time won't break compulsive habits. Sandy Gould, a senior computer-science lecturer at Cardiff University, has researched ways to curb our compulsive phone tendencies. Frederik Riedel, the German-based developer of the app, told me that creating better boundaries was the motivation behind the development of the app. I can attest to that figure: One Sec has nearly halved my compulsive Twitter use.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added. SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said.

☆ SoftBank's Arm rebuffs London by choosing U.S. listing
▼ + stars: | 2023-03-03 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The company did not completely rule out an eventual London listing, saying it intended to consider a subsequent IPO there in due course, without providing further details. London worked hard to get the listing, with Prime Minister Rishi Sunak and Arm Chief Executive Rene Haas meeting in Downing Street last month, according to reports. The loss follows a decision by Dublin-based building materials giant CRH on Thursday to move its primary listing from London to the United States. Arm has pushed into markets beyond smartphones, such as data center servers, where its low-power designs can cut energy use. It immediately identified New York as its preferred destination, where the company will join the likes of Intel, Qualcomm and Nvidia.

☆ London Stock Exchange urges rapid UK reforms after Arm's snub
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 3 (Reuters) - The London Stock Exchange said on Friday that chip designer Arm's decision to pursue a U.S.-only listing this year rather than return to London's stock market showed Britain needed to speed up plans for regulatory and market reforms. Arm, owned by Japan's SoftBank (9984.T), is to pursue a U.S.-only listing this year, dashing the British government's hopes that the tech giant would choose London. "Arm is a great British company and a world leader in their field which we continue to believe can be very well served by the UK capital markets," said Julia Hoggett, chief executive of London Stock Exchange plc, part of London Stock Exchange Group (LSEG.L). Arm has not completely ruled out an eventual London listing and has said it intends to consider a subsequent IPO there in due course, without providing further details. On Thursday, Dublin-based building materials group CRH (CRH.L) had announced a decision to its primary listing from London to the United States.

☆ British chip giant Arm chooses New York listing in a blow to London
▼ + stars: | 2023-03-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

City workers in Paternoster Square, where the headquarters of the London Stock Exchange is based, in the City of London, UK, on Thursday, March 2, 2023. British chip designer Arm, owned by Japan's SoftBank, and building materials group CRH intend to shun London and pursue stock market listings in the U.S., dealing a blow to the U.K.'s post-Brexit vision. Arm said in a statement Friday that it was seeking to pursue a U.S.-only listing this year. It comes shortly after CRH, one of the FTSE 100 's biggest companies, said it plans to move its primary stock market listing to New York. The news is likely to bolster fears that the U.K. stock market is losing out to international rivals.

☆ Why European inflation numbers are relevant to us
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy European inflation numbers are relevant to usMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the need for stabilization in the 2-year note, why European inflation numbers matter, and more.

March 1 (Reuters) - Roche's Genentech Inc (ROGING.UL) sued Biogen MA Inc on Tuesday in San Francisco federal court, claiming Biogen owes additional patent royalties from worldwide sales of its blockbuster multiple-sclerosis and Crohn's disease drug Tysabri. Genentech's lawsuit said Biogen owes royalties for all the Tysabri that was produced using Genentech's patents before the patents expired, even if it was sold later. According to Genentech, Biogen has refused to pay royalties on any Tysabri sales since the patents expired more than four years ago. It said Biogen owes royalties for "most or all" of the Tysabri sold in "2019 and beyond," which it said was made with the patented technology before the patents expired. The case is Genentech Inc v. Biogen MA Inc, U.S. District Court for the Northern District of California, No.

☆ Moderna’s Earnings, Revenue Fall on Fewer Vaccine Sales
▼ + stars: | 2023-02-23 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Photo: Simon Simard for The Wall Street JournalModerna said its research and development expenses soared in the fourth quarter. Moderna Inc. reported lower revenue and earnings in the fourth quarter as demand for its Covid-19 vaccine sank from year-earlier highs when the spread of the Omicron variant boosted sales. The pharmaceutical company, based in Cambridge, Mass., on Thursday said a decrease in volumes for its Covid-19 vaccine pushed sales 29% lower to $5.1 billion, which still topped analyst expectations for $5.02 billion, according to FactSet.

☆ 'It's clear that Mark Zuckerberg idolizes Elon Musk,' Wall Street analyst says
▼ + stars: | 2023-02-22 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg said Meta is adding a verification subscription service to Facebook and Instagram. Meta Verified "sounds awfully like Twitter Blue," Bernstein analyst Mark Schilsky said in a note to clients this week. "I think it's clear that Mark Zuckerberg idolizes Elon Musk." Other analysts on Wall Street more optimistically believe that Meta Verified could add $2 billion per year in revenue, as Insider recently reported. Elon Musk and Mark Zuckerberg have been publicly criticizing each other for years — at least since a SpaceX rocket exploded on the launchpad in 2016, destroying a Facebook satellite.

☆ A group of companies say they plan to continue with a 4-day workweek after workers on a trial took fewer sick days and resignations fell
▼ + stars: | 2023-02-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A UK four-day workweek trial published its results on Tuesday. 92% of the 61 companies which took part say they plan to continue with the policy. Fewer workers quit or took sick days during the trial versus the same time the year before. The researchers found that fewer workers quit or took sick days during this period versus the same time the year before. It is not clear whether any of these results are directly impacted by a change to the four-day week, however.

☆ Thoma Bravo and Clearlake have posted negative returns for a major endowment, according to exclusive performance data. Middle-market firms have been much stronger.
▼ + stars: | 2023-02-21 | by ( Rebecca Ungarino | Ben Bergman | ) www.businessinsider.com time to read: +5 min

The returns show losses from Thoma Bravo and Clearlake, though the funds are new and PE is a long game. Thoma Bravo and Clearlake Capital Group, two private-equity firms that have emerged as notably active investors in recent years, have posted early losses across some of their funds, according to investment returns from a major US endowment. UTIMCO invested $51.7 million in Clearlake's seventh flagship private equity fund, known as Clearlake Capital Partners VII, which closed with some $14 billion of commitments last May. Thoma Bravo declined to comment. Meanwhile, the data show high returns from CapRock Partners, Renovus Capital Partners, Serve Capital Partners, and LFM Capital, PE firms that target middle-market companies.

☆ 40% of employees in a 4-day work week trial reported fewer sleep issues
▼ + stars: | 2023-02-21 | by ( Britney Nguyen | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

40% of employees who participated in the UK's four-day work week trial reported fewer sleep issues. The UK's four-day work week trial, one of the largest in the world, saw 61 companies participate in the trial. In the 4-day work week pilot, 46% of employees reported experiencing less fatigue than usual, and 14% said they experienced more. In addition to better sleep, participating employees reported other benefits of working 32 hours instead of 40 for the same amount of pay. Thirty-nine percent of employees reported feeling less stress, and 71% felt less burnout by the end of the trial.

☆ Scottish finance minister Kate Forbes to run for country's leadership
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 20 (Reuters) - Scottish finance minister Kate Forbes said on Monday she would run in the leadership contest to replace Nicola Sturgeon as Scottish National Party (SNP) leader and Scotland's first minister. Forbes, who was elected to the Scottish parliament in 2016 and became finance secretary in 2020, is the third candidate to enter the race since Sturgeon's surprise resignation last week. Forbes, a Christian, was among senior politicians who urged the Scottish government in 2019 not to rush into gender reform legislation. Health minister Humza Yousaf and former minister Ash Regan have said they will run in the contest to replace Sturgeon. Two other possible contenders, 53-year-old culture minister Angus Robertson, a former deputy leader of the party, and John Swinney, the 58-year-old deputy first minister, have ruled themselves out.

☆ During a four-day week trial, men did a lot more childcare
▼ + stars: | 2023-02-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Men participating in the world’s biggest trial of a four-day work week spent much more time with their children, organizers say. That is the biggest number of companies to ever take part in such a trial, according to organizers 4 Day Week Global (4DWG), a nonprofit organization. The time male workers spent looking after their children rose by 27%, according to time diaries they kept during the trial. 4DWG ran the study with Autonomy, a think tank, the 4 Day Week UK Campaign, as well as in partnership with researchers from Cambridge University, Oxford University and Boston College. It was “a resounding success,” according to organizers, with 92% of the 61 participating organizations continuing with the four-day week beyond the end of the trial.

☆ VC firm Counteract just reached first close on its $42 million carbon removal fund. We got an exclusive look at the 11-slide LP deck it used to secure cash from The Grantham Foundation.
▼ + stars: | 2023-02-17 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

VC firm Counteract has reached first close on its inaugural £35 million fund. It plans to back 40 global companies across all elements of carbon removal. London-based firm Counteract, founded in 2021, has just reached first close on its inaugural £35 million, about $41.9 million, fund. Direct air capture is one of the best-known carbon removal technologies thanks to Swiss company Climeworks. Isaacs stressed the importance of exploring all potential technologies as carbon removal evolves alongside policy, making it inherently risky.

☆ Returns from top venture firms NEA, DCM, and Khosla have been dismal over the past 2 decades, according to filings from California's largest pension fund, CalPERS
▼ + stars: | 2023-02-15 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

CalPERS is the US's largest public pension plan, managing the retirement accounts of 1.5 million California employees and retirees. Unlike many other financial institutions, VC funds are not required to show their return on investment in startups. The CalPERS fund's $75 million bet in 2001 on a venture fund managed by the Carlyle Group lost money. A $25 million investment in DCM's 2000 fund had a 1.9% IRR. Its $260 million investment in two Khosla Ventures funds in 2009 yielded an IRR of 11.8% for the early-to-midstage fund and 6.9% for the seed-stage fund.

[1/2] People pose with syringe with needle in front of displayed Moderna logo in this illustration taken, December 11, 2021. REUTERS/Dado Ruvic/IllustrationFeb 15 (Reuters) - The U.S. government should face a patent lawsuit over COVID-19 vaccines, not vaccine maker Moderna Inc (MRNA.O), the Department of Justice told a Delaware federal court on Tuesday. Moderna made the same argument last year in an unsuccessful bid to win an early dismissal of the lawsuit. Both Moderna and Pfizer Inc (PFE.N) have been the target of multiple patent lawsuits over their COVID vaccines, including a lawsuit brought by Moderna against Pfizer in August. The case is Arbutus Biopharma Corp v. Moderna Inc, U.S. District Court for the District of Delaware, No.

☆ Mysterious flying objects across the US probably aren't aliens, but experts believe life is out there. Here are 13 reasons why we haven't made contact yet.
▼ + stars: | 2023-02-13 | by ( Aylin Woodward | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: 1 min

Even if intelligent aliens aren't flying overhead, though, many experts believe they're out there. Nobel Physics Laureate Didier Queloz speaks during a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden. Jonas Ekstromer /TT News Agency via AP"I can't believe we are the only living entity in the whole universe. Queloz had just won the Nobel prize in physics for his discovery of the first exoplanet orbiting a sun-like star. He said that his work has led him to become "absolutely convinced" that humans will detect alien life in the next 100 years.

☆ British semiconductor bosses threaten to move overseas as U.S. and EU splurge on chips
▼ + stars: | 2023-02-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Prime Minister Rishi Sunak's government is yet to announce a strategy outlining U.K. efforts to support the chip industry. And semiconductor bosses in the country are growing frustrated. Pragmatic Semiconductor, a Cambridge-based startup that produces non-silicon chips, warned it may be forced to relocate overseas if the government doesn't issue a plan for the industry soon. The EU, meanwhile, has earmarked 43 billion euros ($45.9 billion) for Europe's semiconductor industry with the aim of producing 20% of the world's semiconductors by 2030. In December, the country was said to be preparing a more than 1 trillion yuan ($147 billion) package for its chip industry, according to Reuters.

You can earn Marriott points from paid stays, co-branded credit cards, or flexible points transfers. How to earn Marriott pointsEarn points from Marriott Bonvoy hotel staysThere are plenty of different ways to earn Marriott points, but let's start with the simplest: earning points on hotel stays. Award can be used for one night (redemption level at or under 85,000 Marriott Bonvoy points) at hotels participating in Marriott Bonvoy®. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. 6X Marriott Bonvoy Points on purchases at hotels participating in Marriott Bonvoy4X Marriott Bonvoy Points on up to $15,000 in combined purchases per year at restaurants worldwide and at U.S. supermarkets2X Marriott Bonvoy Points on all other eligible purchases1,000 Marriott Bonvoy Bonus Points with each qualifying stayComplimentary Gold Elite statusA Free Night Award (redemption level at or under 50,000 Marriott Bonvoy Points) after making $15,000 in purchases per year.

☆ A federal judge accused Facebook of 'gaslighting' users impacted by data breaches and fined the site and its lawyers nearly $1 million
▼ + stars: | 2023-02-11 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Facebook and its lawyers have been fined $925,078 as part of an ongoing class action lawsuit. A judge said in a ruling that Facebook spent years "trying to gaslight" the court about its conduct. "It's almost as if Facebook and Gibson Dunn spent the better part of three years trying to gaslight their opponents, not to mention the Court." "And hopefully, this ruling will create some incentive for Facebook and Gibson Dunn (and perhaps even others) to behave more honorably moving forward." Gibson Dunn lawyers listed in the suit and representatives for Facebook did not immediately respond to Insider's requests for comment.

☆ Making Medical Science More Democratic
▼ + stars: | 2023-02-10 | by ( Amy Dockser Marcus | ) www.wsj.com time to read: +1 min

Members of the nascent British Association for the Advancement of Science gathered in Cambridge in 1833 to discuss the state of the field. Science was an increasingly popular pursuit and was helping to expand knowledge about the natural world. One of the association’s founders, William Whewell , was ready with an answer: scientists. In the century that followed, science was transformed from a vocation to a profession. Universities became the central venue for the pursuit of science.

☆ Facebook, Gibson Dunn sanction order is light on dollars, heavy on message
▼ + stars: | 2023-02-10 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

CompaniesCompanies Law firms Meta Platforms Inc FollowFeb 10 (Reuters) - To Facebook parent Meta Platforms Inc (META.O) and its lawyers at Gibson, Dunn & Crutcher, $925,000 isn't a whole lot of money. Chhabria, as you've probably heard, ordered Facebook and its lawyers to pay that sum to plaintiffs' lawyers as recompense for their bad-faith litigation tactics. "Does anyone really think that Facebook was planning on taking this case to trial?" This is, by far, the most likely explanation for Facebook and Gibson Dunn’s conduct." Facebook and its lawyers fell into their roles with ease, and then they took things way too far.”Gibson Dunn and Meta both declined to provide a statement on Chhabria’s order.

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