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☆ Edtech venture capital firm Reach Capital raises $215 million for its largest fund ever and has its sights set on backing more generative AI startups
▼ + stars: | 2023-04-10 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Reach Capital has closed its fourth fund with $215 million to invest in education startups. The team is also looking to back more companies using generative AI in education, Reach Capital founding partner Esteban Sosnik told Insider. Near the end of 2022, edtech investing had just reached $8.89 billion in 2022, according to PitchBook. While generalist investors still have some interest in edtech deals, some of the hype has worn off. Reach has also backed several edtech startups that went on to become unicorns, or reach a valuation of over $1 billion, including Outschool, ClassDojo, and Handshake.

☆ Dreaded Medical Paperwork Required by Health Insurers to Be Trimmed
▼ + stars: | 2023-03-29 | by ( Anna Wilde Mathews | Stephanie Armour | ) www.wsj.com time to read: 1 min

UnitedHealthcare said it would cut its use of the prior authorization process. The paperwork required by health insurers to get many medical procedures or tests—one of the biggest gripes of doctors and patients—is getting rolled back. UnitedHealth Group Inc.’s UnitedHealthcare, the largest health insurer in the U.S., said it would cut its use of the prior authorization process. Starting in the third quarter, it will remove many procedures and medical devices from its list requiring the signoff.

☆ FDA requires medical devices be secured against cyberattacks
▼ + stars: | 2023-03-29 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

As part of the new law, the FDA must also update its medical device cybersecurity guidance at least every two years. A 2022 report released by the FBI cited research finding 53% of digital medical devices and other internet-connected products in hospitals had known critical vulnerabilities. The report listed a number of medical devices that are susceptible to cyber attacks, including insulin pumps, intracardiac defibrillators, mobile cardiac telemetry and pacemakers. A 2018 report from the US Department of Health and Human Services’ Office of the Inspector General said the FDA was not adequately protecting devices from getting hacked. “FDA had plans and processes for addressing certain medical device problems in the postmarket phase, but its plans and processes were deficient for addressing medical device cybersecurity compromises,” the report said.

☆ Here are the Club’s 7 'safety stocks' for a volatile economic environment
▼ + stars: | 2023-03-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

PG YTD mountain YTD peformance Jim called Procter & Gamble (PG) his favorite stock in the portfolio right now. COST YTD mountain YTD peformance Costco (COST) is one of the best retailers to own in a strained economy. HUM YTD mountain YTD peformance Humana (HUM) is our managed-care play and we're holding the stock for its defensive characteristics. JNJ YTD mountain YTD peformance Health care leader Johnson & Johnson (JNJ) has been a tough name to own as of late. PANW YTD mountain YTD peformance Cybersecurity giant Palo Alto Networks (PANW) is one of our newer holdings, which we started in mid-February .

☆ Why Blackouts, Power Outages Are Becoming More Common
▼ + stars: | 2023-03-23 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

Power outages have increased 64% from the early 2000s, and weather-related outages — many driven by the worsening climate crisis — have increased 78%. A record-breaking blizzard in Buffalo, New York, this winter caused power outages throughout the city, resulting in the deaths of 47 residents. In 2021, a heat wave led to power outages and the deaths of hundreds in the Pacific Northwest. While regional organizations might use fees to penalize companies for power outages, it's now much harder to pinpoint and hold a person or entity responsible. In the meantime, the climate crisis will continue to wreak havoc on an aging grid system that puts profits over reliability.

☆ Candida auris fungus spreading in U.S. hospitals - CDC
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

FollowMarch 21 (Reuters) - Potentially deadly fungal infections with Candida auris are spreading rapidly in U.S. healthcare facilities, with cases nearly doubling between 2020 and 2021, the Centers for Disease Control and Prevention said. A high fever with chills that does not get better after taking antibiotics may be a sign of Candida auris infection. The CDC noted that spread of the infections in 2021 may have been exacerbated as the healthcare system was hit by pandemic-related stressors, such as staff and equipment shortages. Other countries have also reported increased spread of the fungus, the researchers said. Reporting by Leroy Leo in Bengaluru; editing by Caroline Humer, Nancy Lapid and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Health experts call for a ban on toxic 'forever chemicals' after EPA moves to cut them from tap water
▼ + stars: | 2023-03-18 | by ( Morgan Mcfall-Johnsen | Jessica Orwig | ) www.businessinsider.com time to read: +7 min

Toxic PFAS, aka "forever chemicals," are in water, food, furniture, and clothes across the US. The EPA's new proposal to limit the substances in drinking water is a step in the right direction. On Tuesday the US Environmental Protection Agency proposed strict limits on six per- and polyfluoroalkyl substances (PFAS) in drinking water. The chemicals are prolific in everyday human environments — in our water, food, air, and even the dust in our homes. That means more and more of them are getting into the environment — and drinking water — every day.

☆ Biden administration looks to free up wireless spectrum for advanced technology
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday launched an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

☆ Biden administration looks to free up wireless spectrum for advance technology needs
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday is launching an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

☆ Andon Health: Chinese company says it has full access to SVB-parked funds
▼ + stars: | 2023-03-13 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China’s Andon Health, a maker of medical devices, says it has full access to funds parked at Silicon Valley Bank, after the US government intervened to backstop all the deposits at the failed lender. The Tianjin-based company, which manufactures consumer health devices and supplied Covid test kits to the United States during the pandemic, has cash deposits at SVB worth 5% of its total cash and cash equivalents. “Our deposits at Silicon Valley Bank can be used in full and have not suffered any losses,” the company said in a Tuesday filing to the Shenzhen Stock Exchange. Those measures include guaranteeing that customers of the bank will have access to all their money starting Monday. The SPD Silicon Valley Bank, which was owned 50-50 owned by SVB and local partner Shanghai Pudong Development Bank, said Saturday that its operations were “sound.”

☆ A top GE HealthCare marketing exec reveals the brand strategy that helped the GE spinoff become a $35 billion company two months after going public
▼ + stars: | 2023-03-13 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

GE HealthCare built a brand campaign that helped the company hit a $35 billion marketing cap. In January, GE HealthCare started publicly trading as its own business, and it now has a market cap value of $35 billion. GE HealthCare launched an ad campaign created by BBDO on January 4, the day of the spinoff. GE HealthCare is also building a social presence, mostly focused on LinkedIn. "It was a brilliant move because the GE brand stands for innovation, thinking differently, and creating dialogue," Fallon said.

☆ Neuralink competitor Science launches new platform to accelerate medical device innovation
▼ + stars: | 2023-03-13 | by ( Ashley Capoot | ) www.cnbc.com time to read: +4 min

Biotechnology startup and Neuralink competitor Science on Monday launched a new platform that aims to make it easier for other companies to quickly develop and produce medical devices. For many startups, that cost is too much to bear, but Hodak is hoping Science Foundry can help. The company's new platform Science Foundry aims to support companies working on similarly ambitious ideas. The cost of using Science Foundry is comparable to the cost of working with academic facilities, which are "cheap to get started," Hodak said. Hodak said the platform will benefit Science and the broader industry as a whole.

☆ Mexican stocks are on fire this year. Here's what's driving the gains
▼ + stars: | 2023-03-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Closer supply chains to the U.S. are giving Mexican stocks a big boost to start the year. The iShares MSCI Mexico ETF (EWW) , which is made up of Mexican stocks, is performing even better — up 15.2%. EWW YTD mountain EWW in 2023 One key factor driving this early outperformance is "nearshoring," which refers to companies bringing supply chains closer to their home country. In this case, many U.S.-based companies are moving their supply chains to neighboring Mexico, which could lead to even more gains in Mexican stocks. Lippmann said the firm likes stocks directly helped by nearshoring trends, such as the real-estate firm Vesta and airport operator OMA .

☆ The next world power will be the first to harness the power of AI, former defense official argues in new book
▼ + stars: | 2023-03-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +17 min

Paul Scharre, a former defense official, argues AI dominance will determine the next global power. The battle for AI power will revolutionize world militaries and economies. His book, "Four Battlegrounds: Power in the Age of Artificial Intelligence," was released on February 28. In his latest book, "Four Battlegrounds: Power in the Age of Artificial Intelligence," Scharre explores how the international battle for the most powerful AI technology is changing global power dynamics. Over time, regulation in some fashion of AI technology; probably much of which will be sector-specific.

☆ Fake plastic medical devices were implanted into people with chronic pain. It was part of a medical company CEO's scheme to charge $16,000 for each one, feds allege.
▼ + stars: | 2023-03-10 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

A medical device company sold devices that were implanted into patients with chronic pain, according to prosecutors. But, the DOJ alleges that the devices were plastic and didn't do anything. The company made millions of dollars off the devices, and its CEO is being charged with fraud. Perryman sold the phony device to doctors for $16,000 anyway, racking up millions in profits for her company and defrauding federal healthcare programs in the process, the DOJ alleges. Court documents allege that Perryman instructed her employees to vouch for the phony devices, despite knowing that they were useless.

☆ Wet Winter Storm Pummels California
▼ + stars: | 2023-03-10 | by ( ) www.wsj.com time to read: 1 min

Energy Breakthrough Opens Up Possibility for Better Battery PowerA team of researchers from the University of Rochester think they have found the holy grail of energy transmission. And in the next decade, it could change how we use our personal gadgets, medical devices and the energy grid. WSJ science reporter Aylin Woodward joins host Zoe Thomas to discuss this new superconductor. Plus, if you have questions about generative artificial intelligence, email us a voice recording at tnb@wsj.com. Photo by Lauren Patracca/WSJ.

☆ Rihanna's Wealth: Breaking Down Her $1.4 Billion Business Empire
▼ + stars: | 2023-03-10 | by ( ) www.wsj.com time to read: 1 min

☆ Watch: U.K., France Pledge Cooperation on Ukraine and Migration
▼ + stars: | 2023-03-10 | by ( ) www.wsj.com time to read: 1 min

☆ Yellen Addresses Concerns Over Debt Ceiling, SVB Financial Situation
▼ + stars: | 2023-03-10 | by ( ) www.wsj.com time to read: 1 min

☆ Meet the woman who invented a whole new subsection of tech set to be worth $1 trillion
▼ + stars: | 2023-03-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Ida Tin wanted to study art at college when she accidentally landed herself a place on a business course – she then became a pioneer of an industry set to be worth more than $1 trillion. "I literally got lost in the hallways and I ended up in some office where they were waiting for a candidate to do [the business course interview]," Tin said as she explained her first steps into the business world. As Clue gained users, Tin realized there wasn't much of a community around women's health services and products, despite more and more coming onto the market. The term now covers all types of technology and innovation designed to address health issues that solely, or disproportionately, impact women's health, from menstrual cycle tracking apps and sexual wellness products to cardiovascular medical devices and mental health therapies. "And I have to say I have been surprised but I really see how it's resonating globally," she added.

☆ Here’s our Annual Meeting update on the 7 health care and bank stocks in the Club portfolio
▼ + stars: | 2023-03-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Here's an update on the health care and financial holdings in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. At levels below $250 per share, Jim said Danaher is one of the most attractive stocks in the Club's portfolio. Its consumer-products unit will become a company known as Kenvue, while its faster-growing pharmaceutical and medical devices divisions will retain the J & J name. However, there is some litigation risk with J & J after a federal judge in January rejected its strategy concerning more than 38,000 talc lawsuits. Against that backdrop, we view J & J as a quality defensive name to own, especially given its annual dividend yield of around 3%.

☆ First-Time CFOs Get a Crash Course in Managing Inflation, Volatile Markets
▼ + stars: | 2023-02-23 | by ( Kristin Broughton | Anna Mutoh | ) www.wsj.com time to read: +11 min

Critical decisions made as CFO: Mr. Jepsen allowed the company to incur higher costs to expedite shipping for parts to factories and deliveries to customers. Enphase faced pressure last year from higher costs and the effects of a strong U.S. dollar. Ken Jacobson, CFO of Avnet Photo: AVNET INC.Ken Jacobson, Avnet Inc.Age: 45Career path: Mr. Jacobson, who had previously served as interim CFO from 2017 to 2018, stepped in officially as CFO in September. Mr. Jacobson says Avnet’s interest expenses on its debt have almost tripled over the past year. While there was some attrition in the beginning, it hasn’t been as bad as other companies, Mr. Jacobson said.

☆ U.S. will create at least two semiconductor manufacturing clusters by 2030, Commerce Secretary Gina Raimondo says
▼ + stars: | 2023-02-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, D.C., U.S., February 1, 2022. WASHINGTON — The U.S. will use funds from the $52 billion CHIPS and Science Act to create at least two large-scale logic fabs for the manufacture of semiconductors, along with multiple high-volume advanced packaging facilities, by 2030, Commerce Secretary Gina Raimondo announced Thursday. U.S.-based manufacturing plants, known as "fabs," will produce advanced memory chips "on economically competitive terms," Raimondo said. "This is fundamentally a national security issue," she said. The Commerce secretary reiterated the government's plans to invest $11 billion in what it calls a National Semiconductor Technology Center.

Feb 21 (Reuters) - Medtronic Plc (MDT.N) said on Tuesday it expects inflation in various markets to hit its profit in the next fiscal year after the medical device maker beat earnings estimate for the third quarter on strong demand for its heart and diabetes devices. While inflation in many countries has eased in recent months, the management expects a delayed improvement in its earnings as its costs remain high. "VBP has affected us more than many of our competitors, given the size and breadth of our business in China. Stifel analyst Rick Wise expects Medtronic to get past pricing pressure in China in "the not too distant future". Reporting by Leroy Leo and Mariam E Sunny in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Oral cancer has been rising for decades in the UK, not result of COVID swabs
▼ + stars: | 2023-02-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Mouth cancer rates in Britain have been rising for two decades, with an all-time high of diagnoses likely a result of lifestyle factors, oral health experts told Reuters. This is contrary to claims shared online that COVID swab tests have caused an increase in oral cancer. One social media user spreading the falsehood here wrote: “Mouth cancer has hit an all time high! The Oral Health Foundation cites tobacco, alcohol and human papillomavirus (HPV) as the most common causes of mouth cancer (here). Oral cancer rates in Britain have been rising for at least two decades and there is no evidence a record high number of diagnoses are a result of COVID-19 swabs.

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