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☆ Op-ed: Gottlieb says A.I. may take on doctors' roles sooner than later
▼ + stars: | 2023-07-31 | by ( Scott Gottlieb | ) www.cnbc.com time to read: +7 min

The AI tools being applied to healthcare can generally be divided into two main categories. The first encompass large language models that are applied to administrative functions like processing medical claims or creating and analyzing medical records. In fact, up to 30 percent of radiology practices have already adopted AI tools. Right now, there are only a few clinical language models, and even the largest ones possess a relatively small number of parameters. As the quality and scope of clinical data available for training these large language models continue to grow, so will their capabilities.

Persons: Scott Gottlieb, ChatGPT, Amazon's, retinopathy, IBM's, Watson, they're, William J Organizations: CNBC, Pfizer, Aetion Inc, Cruise Line Holdings, Harvard, FDA, Oncology, Google, Healthcare

[1/2] American skateboarder Nyjah Huston poses for a photo at a party celebrating the one-year countdown to the Paris Olympics at the Ralph Lauren store in Beverly Hills, California, U.S., July 26, 2023. "I'm very excited for Paris," fan favourite Huston told Reuters at a swanky party at the Ralph Lauren store in Beverly Hills to celebrate the one-year countdown to the Paris Games. At the party, three-time Olympic champion snowboarder Shaun White and Huston discussed bouncing back from their respective leg injuries, with Huston telling White he had fully recovered from his ACL tear last August. ANOTHER BITEWhite said the experience Huston gained in Tokyo will help him enormously in Paris next summer. But of the 12 medals handed out for the sport in Tokyo, the U.S. team managed just two bronze.

Persons: Nyjah Huston, Ralph Lauren, Rory Carroll, Huston, Instagram, Shaun White, White, Ryan Sheckler, I've, Sheckler, Critics, we're, I'm, Ken Ferris Organizations: Paris Olympics, REUTERS, Paris Games, Reuters, Red Bull, WIN, U.S ., Team USA, X, Thomson Locations: Beverly Hills , California, U.S, ANGELES, Tokyo, Paris, Beverly Hills, Rome, Southern California, Los Angeles, LA

☆ Get the lowdown on 'e/acc' — Silicon Valley's favorite obscure theory about progress at all costs, which has been embraced by Marc Andreessen
▼ + stars: | 2023-07-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

There's a new ideological interest in Silicon Valley: effective accelerationism. It's called effective accelerationism. The more formalized e/acc idea has taken shape on Twitter and through Substack newsletters since 2022. In an e/acc world, no idea that offers hypothetical value should be considered too absurd, too dangerous, too out there to make a reality. But one thing does seem certain: as long as AI remains front and center, so too will effective accelerationism.

Persons: Marc Andreessen, It's, Garry Tan, Sam Bankman, Fried, Michael M, Nick Land, Freeman, ChatGPT, Marc Andreessen's, Tan, Y Organizations: Tech, acc, Morning, Twitter, Getty, University of Warwick Locations: Silicon Valley, British, Francisco

☆ Review: Wagner Would Have Liked AR, but Not This ‘Parsifal’
▼ + stars: | 2023-07-26 | by ( Zachary Woolfe | More About Zachary Woolfe | ) www.nytimes.com time to read: +1 min

After a squabble within the notoriously squabbling Bayreuth Festival about funding the expensive augmented reality, or AR, glasses, money was allotted for 330 sets in a theater of 1,925 seats. A much smaller group, including critics, gets the glasses, which superimpose on that live staging a crowded AR environment that is constantly in motion. They miss the space between them and the stage seeming to fill with twinkling stars as the soft prelude begins. The fly that seems to land on the outside of the AR lenses. The rocky ledge that appears to fill the area beneath the seats in the third act.

Persons: straightforwardly, Pablo Heras

At thrift stores, vintage Barbie dolls have become a treasured find, prices in the collectibles market have soared, and antiques appraisers have been flooded by calls from new collectors. Not all longtime collectors of the iconic doll are as delighted as Keith by the recent interest in Barbie collecting. "I've largely stopped collecting dolls themselves and invest in clothing and accessories instead," wrote one user. Florida-based veteran Barbie doll dealer Marl Davidson said prices have climbed about 25% in recent months. "Barbie appraisals don't normally come the way they've been coming," she said.

Persons: Matthew Keith, Barbie, Keith, I've, Marl Davidson, It's, Davidson, Lori Verderame, they've, Verderame, Julia Harte, Rachel Nostrant, Paul Thomasch, Aurora Ellis Organizations: Retailers, Thomson Locations: Los Angeles, Florida

☆ Big Business Gets Bigger
▼ + stars: | 2023-07-21 | by ( German Lopez | More About German Lopez | ) www.nytimes.com time to read: +1 min

Courts push backThe Biden administration released guidelines this week that seek to toughen antitrust law, which restricts anticompetitive practices. Under Khan, the F.T.C. has also pushed courts to effectively lower the burden of proof required to show that a merger is anticompetitive. “But it often seems that courts will not let plaintiffs win an antitrust case based on circumstantial evidence.”The F.T.C. The last major shift in antitrust law, in the 1970s, came after decades of work by conservatives to push the law and courts in their direction.

Persons: Biden, Khan, ”, Douglas Melamed, ’ Organizations: Stanford Law School, Microsoft, Activision Locations: Europe

☆ TikTok is offering creators $1,000 cash incentives and other rewards as it looks to bolster its e-commerce program
▼ + stars: | 2023-07-20 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +7 min

TikTok is offering a slew of cash bonuses and rewards to creators that use its new shopping feature. The conversation centered around how to formalize the role of "TikTok Shop creator" as a new category of influencer, akin to a sports or food personality, Jayy said. "I'm thinking about marketing myself as a TikTok Shop creator," she said. In another instance, they were offered $1,000 in cash for generating at least $3,000 in Shop sales via a video. "Most of the people don't have the support or the knowledge to even be these TikTok Shop creators that TikTok wants them to be."

Persons: Sharon Jayy, Jayy, it's, TikTok, influencers, It's, Ross Hawthorne, Nadia Lynn Garcia, Maryam Malik, Lissette, Shayna Farnan, she's, Malik, Lauren Mabra, Mabra, Pinterest, Farnan Organizations: TikTok, Real Quick Media, Meta, Facebook, YouTube, Financial Times, TikTok Shop Locations: Culver City , California, China, London

☆ Opinion | Is ‘Yo’ the Gender-Neutral Pronoun You’ve Been Looking For?
▼ + stars: | 2023-07-19 | by ( John Mcwhorter | ) www.nytimes.com time to read: +2 min

My focus this time out is on standard English rather than nonstandard English, since one of my recent books was about Black English. Although they are often presumed to be simpler — in a word, dumber — than standard English, the opposite is often true. One example I am thinking of is a relatively new and unheralded gender-neutral pronoun that has emerged in, of all places, Baltimore. Gender-neutral pronouns are a thorny topic in English. But in English, a truly accepted gender-neutral pronoun has been a holy grail for generations.

Persons: A.A . Milne, ”, “ Ariella Locations: Baltimore

☆ TikTok is luring creators into its Shop program with office visits, private chat groups, and cold hard cash
▼ + stars: | 2023-07-19 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +7 min

The conversation centered around how to formalize the role of "TikTok Shop creator" as a new category of influencer, akin to a sports or food personality, Jayy said. "I'm thinking about marketing myself as a TikTok Shop creator," she said. In another instance, they were offered $1,000 in cash for generating at least $3,000 in Shop sales via a video. On the right, a screenshot of what a creator sees on the backend when using TikTok Shop as an affiliate. "Most of the people don't have the support or the knowledge to even be these TikTok Shop creators that TikTok wants them to be."

☆ Apple iPhone from 2007 sells for $190,000
▼ + stars: | 2023-07-18 | by ( Caolán Magee | ) edition.cnn.com time to read: +2 min

CNN —A first-edition 2007 Apple iPhone has sold for more than $190,000 at auction, far exceeding the estimate. Dubbed the “Holy Grail” by auctioneer LCG Auctions, the 4GB model was expected to fetch in the region of $50,000-$100,000. An original 2007 Apple iPhone Factory Sealed (First Release, 4GB) sold at auction for $190,372.80. Earlier this year, a first-generation 2007 iPhone sold for more than $63,000, while another unopened first-generation iPhone sold for more than $39,000 in a listing also by LCG Auctions in October. “It’s a real revolution to bring real Web browsing to a phone.”Other rare Apple memorabilia or relics of Jobs’ life have also sold at auction for eye-watering prices.

Persons: LCG, Steve Jobs, “, Jobs, ” Organizations: CNN, Apple, LCG Auctions, Macworld

☆ TikTok creators are raking in cash and scoring millions of views from its shopping affiliate program. Will it last?
▼ + stars: | 2023-07-17 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Some users work directly with brands on TikTok Shop promotions, while others simply choose eligible products from TikTok Shop sellers at a standard commission rate. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral.

Persons: Shayna Farnan, Farnan, Jeneen Sahtout, Shawn Jacobson, Jacobson, TikTok, Nicole Rechtszaid, Arlene Resendiz, Resendiz, Sharon Jayy, Grace Secrist, Alexander Jane, Natalie Park, I'm, what's, influencers, they'd Organizations: Walmart, CVS, TikTok, influencers, Ghost Agency, TikTop, Fund Locations: Pennsylvania, UK, Indonesia

☆ As Climate Shocks Multiply, Designers Seek Holy Grail: Disaster-Proof Homes
▼ + stars: | 2023-07-16 | by ( Christopher Flavelle | More About Christopher Flavelle | ) www.nytimes.com time to read: +1 min

John duSaint, a retired software engineer, recently bought property near Bishop, Calif., in a rugged valley east of the Sierra Nevada. The area is at risk for wildfires, severe daytime heat and high winds — and also heavy winter snowfall. But Mr. duSaint isn’t worried. And it can withstand high winds and heavy snowpack. “The dome shell itself is basically impervious,” Mr. duSaint said.

Persons: John duSaint, duSaint isn’t, Mr, duSaint Organizations: Calif Locations: Bishop, Sierra Nevada

☆ TikTokers are earning thousands in commissions from its new shopping program and scoring millions of views. Will it last?
▼ + stars: | 2023-07-14 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral. "It's just a matter of sorting through the TikTok Shop and finding what's actually on there that's worth my time."

☆ FTC chair defends tenure as lawmakers battle over consumer agency's impact
▼ + stars: | 2023-07-13 | by ( Diane Bartz | David Shepardson | ) www.reuters.com time to read: +3 min

Representative Kevin Kiley, Republican from California, asked Khan about the cases that the agency had lost. “We fight hard when we believe there was a law violation, and unfortunately things don’t always go our way,” responded Khan. The agency also lost a fight to stop Facebook parent Meta Platforms from buying VR content maker Within Unlimited. Democrats on the committee sought to defend Khan, occasionally joined by Republicans on the panel including Rep. Ken Buck. Rep. Scott Fitzgerald, a Republican, however, worried about investors in small businesses losing their exit strategies.

Persons: Lina Khan, Lina M, Khan, Bill Nelson, Graeme Jennings, Activision Blizzard, Kevin Kiley, “, don’t, ”, ” Kiley, ” Khan, Darrell Issa, Trump, Ken Buck, Michael Kikukawa, Scott Fitzgerald, “ you’re, you’re, Black Knight, Jim Jordan, Elon, Jerry Nadler, Nadler Organizations: WASHINGTON, U.S . Federal Trade Commission, Republican, Commerce, Science, NASA, Capitol, Committee, Microsoft, “, Activision, Facebook, Republicans, White House Press, Rep, Black, Horizon Therapeutics, Twitter, FTC, Democrat Locations: Washington , U.S, California, U.S

[1/2] The sun sets behind the U.S. Capitol dome in Washington, U.S., on midterm election day, November 6, 2018. It was not the first loss for the agency under Khan. In addition, an internal FTC judge ruled for Illumina's (ILMN.O) purchase of Grail (GRAL.O). Lawmakers are also expected to bring up the committee's requests for documents regarding the agency's review of billionaire Elon Musk's purchase of Twitter. Conservatives have accused social media companies, including Twitter before it was acquired by Musk, of seeking to stifle conservative voices.

Persons: James Lawler Duggan, Lina Khan, Jim Jordan, Trump, Black Knight, Amgen's, Elon Musk's, Diane Bartz, Matthew Lewis Organizations: U.S, Capitol, REUTERS, WASHINGTON, U.S . Federal Trade Commission, Republican, Committee, FTC, Microsoft, Activision, Khan, Facebook, Illumina's, Black, Horizon Therapeutics, Twitter, Musk, Thomson Locations: Washington , U.S, Washington

☆ Illumina hit with record $476 million EU antitrust fine over Grail deal
▼ + stars: | 2023-07-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

SummaryCompanies Fine corresponds to 10% of Illumina global turnoverGrail given symbolic 1,000-euro fine for active roleIllumina says fine disproportionate, will appealBRUSSELS, July 12 (Reuters) - U.S. genetic testing company Illumina (ILMN.O) was fined a record 432-million-euro ($476 million) by the EU on Wednesday for closing its takeover of cancer test maker Grail (GRAL.O) before securing EU antitrust approval. By closing the deal prematurely, Illumina was able to exercise a decisive influence over Grail, the EU enforcer said, calling the move unprecedented and a very serious infringement. Illumina and Grail knowingly and deliberately did so by implementing their tie-up as we were still investigating," EU antitrust chief Margrethe Vestager said in a statement. The company has challenged the EU veto of the deal, its decision to examine the deal despite not meeting the EU merger criteria and the EU order to keep Grail separate so that it can unwind the deal. It said success in the second case would nullify the EU fine and expects the EU court to rule in late 2023 or early 2024.

Persons: Illumina, Margrethe Vestager, Grail, Ilumina, Foo Yun Chee, Elaine Hardcastle Organizations: EU, European Commission, Regulators, U.S . Federal Trade Commission, Thomson Locations: BRUSSELS, U.S, EU

☆ Illumina hit with record $476 million fine for closing Grail deal without EU approval
▼ + stars: | 2023-07-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

European Union regulators on Wednesday fined Illumina a record 432 million euros ($476 million) for closing its acquisition of cancer test developer Grail without first securing regulatory approval. The fine from the European Commission, the EU's executive body, amounts to 10% of San Diego-based Illumina's turnover. The Illumina fine exceeds the commission's previous largest merger regulation fine of $125 million, or 1% of annual turnover, imposed on telecommunications company Altice in 2018. Illumina has already put aside $453 million to cover a potential maximum fine of 10% of turnover, according to a regulatory filing from earlier this year. "This is a very serious infringement, which requires the imposition of a proportionate fine, with the aim of deterring such conduct," the European Commission continued.

Persons: Illumina Organizations: European Commission, EU, Altice Locations: San Diego, Menlo Park , California

Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.

Persons: we're, we've, snagging, We're, I've, Sarah Saril, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Luna, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, They're, Snuggies, Elaine Benes, Kenneth Cole, Steven Madden, Martens, Ray Bans, Vines, Price Calvin Klein, Calvin Klein racerback, Grey Heather, Now's, JW Pei, Price Honeywell, Price Apple, Price Arlo, we’ve, fryer, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, Pro Air Fryer, Price Dyson, Dyson, Hoover, Decker, Bissell, Price Dell, Price LG, Ed, Swift, Zelda, Price Hori, Con Organizations: Tech, Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Price Apple, Price Sony WH, Sony, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Amazon Deal, GAP, Adidas, Chelsea, Deal, Navy, Columbia, Honeywell, Energy, Steam, IRIS, GE, Oster Digital, Fryer, Oster, OmieGo, ICE, Pro Air, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, HP, Price Samsung, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, ASUS, Gaming, EA Star Wars, Star, Nintendo, Gray, Super Nintendo Entertainment Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's

☆ EU claims win in Illumina battle, may yet lose war
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

The $30 billion genetic test maker faces a record European Union fine of 432 million euros ($476 million) for closing the $8 billion deal in 2021, ahead of regulatory approval. Absent the fact that it would have breached its own 10% of revenues cap for fines, the EU would have charged Illumina 570 million euros, according to an EU official. Even so, while the transatlantic merger saga has already seen the departure of Illumina’s chief executive and chairman, Brussels may yet win the battle and lose the war. Separately, Illumina has launched proceedings over whether the EU has the jurisdiction to opine – if it wins, then its new fine could get overturned. With U.S. courts ruling in favour of Microsoft (MSFT.O) over its Activision Blizzard (ATVI.O) deal, the Illumina saga may yet have further twists.

Persons: shouldn’t, Illumina, Rebecca Christie, George Hay, Oliver Taslic Organizations: Reuters, European, EU, U.S, Microsoft, Activision, Twitter, Thomson Locations: BRUSSELS, Brussels, China

☆ Factbox: What's next after US judge rules in favor of Microsoft-Activision deal?
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

With the first fight in federal court in California wrapped up, the agency and companies have decisions to make about what comes next. * Or the agency may choose to challenge Corley's ruling in a federal appeals court. An administrative law judge at the FTC is scheduled to hear arguments about the deal in August. The next stop after that would be a federal appeals court. * If the FTC wins, the companies can appeal to the commission to overturn the decision and, if needed, take the case to a federal appeals court.

Persons: Jacqueline Scott Corley, Corley's, Michael Chappell, Lina Khan, Chappell, Khan, Diane Bartz, Matthew Lewis, David Gregorio Our Organizations: Microsoft, Activision, U.S . Federal Trade Commission, Meta, FTC, Thomson Locations: California, Illumina's, Washington

☆ Do I Really Need to Pack a Capsule Travel Wardrobe?
▼ + stars: | 2023-07-10 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +2 min

I’m going on a two-week hiking trip in August and am trying to figure out what to pack. We’re limited to about 33 pounds, so I need to pack light. I’d love to put together a wardrobe that’s practical, chic and wearable beyond the trip. The capsule holiday wardrobe is the holy grail of travel: an interchangeable, efficient system of dressing that in an ideal world necessitates no more than a tote and a bag that will fit in an airplane overhead bin. The weight of stuff falls from your shoulders, as does the time spent deciding what to wear.

Persons: Suzanne, Vuitton, Elizabeth Taylor, ogle, it’s, Erik Maza Organizations: tote, Town Locations: Saratoga Springs, N.Y

☆ American Express is being investigated over sales practices. Salespeople say they have been made scapegoats.
▼ + stars: | 2023-07-06 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +25 min

In late May last year, some 250 salespeople at American Express learned they weren't going to get paid. In addition to earning commissions, the Premium Wire volumes helped them reach higher compensation tiers, known as kickers. For the first time, the Premium Wire product made economic sense. The presentation discussed shifting the sales focus toward Premium Wire and another product to "accelerate revenue growth and meet client's needs." Isserlis said Williams was fired because of misconduct unrelated to Premium Wire.

Persons: Amex, salespeople, Salespeople, Adam Isserlis, Isserlis, Stephen Squeri, John Moore, Amex salespeople, Pablo Ribas, Ribas, Anna Marrs, Marrs, Charles Schwab, Schwab, Mike Peterson, Charlene Luke, they'd, Nick Williams, Williams, Nick, Mr, —, Thomas Zoerner, Zoerner, Amex's, she's, weren't, Carter Johnson Organizations: American Express, Commercial Services, Securities and Exchange Commission, Justice Department, Internal Revenue Service, Street, IRS, Getty, Credit, Employees, Business, SME, Global Commercial Services, Marriott, Express, University of Florida's Levin College of Law, Amex, California Labor, Court, whistleblowing Locations: Brooklyn, California, Manhattan, Canadian, —, Orange County , California, New York, Webex

Such a penalty would be far higher than any previously imposed by Brussels. But China’s stuttering economy and Beijing’s focus on elections in the United States and Taiwan next year are driving a calculation by Chinese policymakers that it is still worth engaging. But the Chinese are looking beyond the United States, and 2023. “Beijing policymakers are hedging their bets,” Rana Mitter, director of Oxford University’s China Center, told DealBook. “They believe that the Biden administration is using softer language but in practice seeking to contain China.

Persons: Illumina, Janet Yellen, Biden, Yellen’s, ” Rana Mitter, DealBook, “, ” Organizations: European Union, Financial Times, Economic, China, Oxford University’s China Center Locations: Brussels, China, Beijing, United States, Taiwan, Tianjin, Netherlands, Washington

☆ Biden names two Republican nominees for FTC commissioner, White House says
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 3 (Reuters) - U.S. President Joe Biden has nominated Virginia Solicitor General Andrew Ferguson and Utah Solicitor General Melissa Holyoak to fill Republican slots at the Federal Trade Commission, the White House said Monday. The FTC "operates best at full strength, and I will look forward to working with them," she said. A native of Virginia, Ferguson has an undergraduate degree from the University of Virginia and a law degree from the University of Virginia School of Law. Holyoak is the Utah Solicitor General with the Utah Attorney General's Office. Her undergraduate degree is from the University of Utah, as is her law degree.

Persons: Joe Biden, Andrew Ferguson, Melissa Holyoak, Lina Khan, Khan, Ferguson, Holyoak, Biden, Donald Trump's, Mitch McConnell, Lindsey Graham, Chuck Grassley, Myers, Amgen's, Black Knight, Diane Bartz, Kanishka Singh, Eric Beech, David Gregorio Our Organizations: Federal Trade Commission, U.S, Senate, FTC, Democratic, Facebook, Amazon.com, Albertsons, Senate Republican, University of Virginia, University of Virginia School of Law, Utah Attorney General's, Myers LLP, Hamilton Lincoln Law Institute, Competitive Enterprise Institute, Center for, University of Utah, Activision, Horizon Therapeutics, Black, Thomson Locations: Utah, Virginia

☆ Corporate agitators slow down in Q2 but ready to pounce in H2 -Barclays data
▼ + stars: | 2023-06-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Investors, bankers and lawyers expect a busy second half where activists may become more involved in trying to jumpstart mergers and acquisitions (M&A). "Volatile markets and depressed M&A markets are not deterring activists from launching campaigns in 2023," said Jim Rossman, global head of shareholder advisory at Barclays. In the second half, Barclays' Rossman expects to see a market with pent-up demand for M&A and $1.4 trillion parked in private equity firms' war chests that needs to be put to work. "The proof is in the pudding in the 2023 proxy season," Rossman said. "Activists won seats at 80% of proxy contests that went to a final vote, compared to 33% in 2022."

Persons: Jim Rossman, ValueAct, Carl Icahn, Francis deSouza, Elliott, Rossman, Svea Herbst, Bayliss, Jamie Freed Organizations: YORK, Elliott Investment Management, Capital, Legion Partners, Barclays, Holdings, Inclusive, Partners, Bayer, Reuters, Capital Management, Svea, Thomson Locations: Europe, Asia, United States

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