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☆ TC Energy says Keystone oil spill caused by fatigue crack
▼ + stars: | 2023-04-21 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

April 21 (Reuters) - Canada's TC Energy (TRP.TO) on Friday said a 14,000-barrel oil spill from its Keystone pipeline in rural Kansas in December was primarily due to a progressive fatigue crack, which originated during the construction of the pipeline. The Calgary-based company released the findings after receiving an independent third-party root cause failure analysis (RCFA), as required by regulators. TC said the RCFA report found the fatigue crack came from a girth weld connecting a manufactured elbow fitting to the section of pipe constructed across Mill Creek. The girth weld was completed at a fabrication factory and met applicable standards. "This resulted in the initiation of a circumferential crack in the weld, which led to failure through operations after over a decade," TC said.

☆ A TikTok and Instagram creator with over 1 million followers shares the email template he uses to get brand deals and his top 6 strategies for cold pitching
▼ + stars: | 2023-04-21 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Eli Stone is a short-form video creator with 1.2 million followers on TikTok and Instagram. Stone has 1.1 million followers on TikTok versus nearly 100,000 on Instagram. This is crucial if you're a TikTok creator, where views can be inconsistent because of the algorithm. Stone also uses an email template when contacting companies. I'm reaching out because recently I dropped everything in my life to chase my dream - and that's to be a content creator (a link to some of my work).

The Supreme Court maintained access to the abortion drug mifepristone on Friday. The court took on the issue after a federal judge in Texas issued a ruling suspending FDA approval of mifepristone. Drugs like mifepristone and misoprostol have been under heightened scrutiny from abortion opponents since the Supreme Court overturned Roe v. Wade last June. Earlier in April, a federal judge in Amarillo, Texas, issued a ruling suspending mifepristone's FDA approval, arguing the approval itself was unlawful. Following the Supreme Court's reversal on abortion rights, Democrats heavily campaigned on the issue of abortion in the 2022 midterm elections.

☆ Blackstone's first-quarter earnings plunge on real estate slowdown
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 20 (Reuters) - Blackstone Inc (BX.N), the biggest manager of assets such as private equity and real estate, said on Thursday its first-quarter distributable earnings fell 36% year-on-year, as a weak property market stopped it from cashing out on some holdings. The slowdown in commercial real estate — triggered by higher interest rates, fears about an economic slowdown and businesses consolidating office space in the aftermath of the COVID-19 pandemic — has also prevented Blackstone from selling assets for top dollar in many of its real estate funds. Distributable earnings, which represent the cash used for shareholder dividends, fell to $1.25 billion in the first quarter from $1.94 billion a year earlier, Blackstone said. Blackstone's fee-related earnings fell 9% to $1.04 billion, as fewer asset sales led to lower performance fees. Blackstone's opportunistic and core real estate funds depreciated by 0.4% and 1.6% over the first quarter, respectively.

☆ Blackstone is in talks to help regional banks with lending
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +4 min

NEW YORK, April 20 (Reuters) - Blackstone Inc (BX.N), the biggest manager of private equity and real estate assets, said on Thursday it was discussing partnerships with U.S. regional banks to help them with constraints in areas such as car loans and home improvement financing. "As regional banks experienced outflows of deposits, we are seeing real-time opportunities to partner with them at scale," Blackstone President Jonathan Gray said on the firm's first-quarter earnings call. "The regional banks generally play a very large role in home improvement loans, auto loans and equipment finance. He did not identify the banks Blackstone is speaking to. The firm has shifted its focus in real estate to resilient sectors such as logistics and rental housing.

☆ US Supreme Court faces self-imposed deadline to act on abortion pill curbs
▼ + stars: | 2023-04-19 | by ( Andrew Chung | ) www.reuters.com time to read: +3 min

WASHINGTON, April 19 (Reuters) - The U.S. Supreme Court on Wednesday faces a self-imposed deadline to act before significant limits on access to the abortion pill mifepristone take effect in a challenge by anti-abortion groups to the drug's federal regulatory approval. The Supreme Court, which has a 6-3 conservative majority, is expected to act before the deadline to either grant or reject the requests or further pause the litigation. In a case that could undercut federal regulatory authority over drug safety, the New Orleans-based 5th U.S. The 5th Circuit did halt a part of Kacsmaryk's order that would have suspended the U.S. Food and Drug Administration (FDA) approval of the drug in 2000 and effectively pull it off the market. Some 56% of respondents said they have an unfavorable view of the Supreme Court.

HOW DID IT REACH THE SUPREME COURT? Whether or not the Supreme Court decides to stay Kacsmaryk's order, it will not decide the merits of the case. The Biden administration said in its petition to the Supreme Court that the FDA cannot comply with both orders. WHAT HAPPENS AFTER THE SUPREME COURT RULES? Once it does come, the losing side will again have the chance to appeal to the 5th Circuit and, eventually, the Supreme Court.

☆ Supreme Court extends suspension of Texas ruling limiting access to abortion pill mifepristone
▼ + stars: | 2023-04-19 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

The Supreme Court gave itself more time to consider whether to allow restrictions on abortion pill mifepristone to take effect. Legal challenges to mifepristone's FDA approval continue. The justices had given themselves a deadline on Wednesday in a fast-moving case from Texas in which abortion opponents are seeking to roll back FDA approval mifepristone. Even as the abortion landscape changed dramatically in several states, abortion opponents set their sights on medication abortions, which make up more than half of all abortions in the United States. Mifepristone has been available for use in medication abortions in the United States since the FDA granted approval in 2000.

☆ Anti-abortion groups urge US Supreme Court to restrict abortion pill
▼ + stars: | 2023-04-18 | by ( Andrew Chung | ) www.reuters.com time to read: +4 min

WASHINGTON, April 18 (Reuters) - The U.S. Supreme Court should restrict the availability of the abortion pill mifepristone, anti-abortion groups challenging the medication's federal regulatory approval told the justices in a filing on Tuesday, urging them to implement curbs ordered by a conservative federal judge in Texas. Mifepristone is taken with another drug called misoprostol to perform medication abortion, which now accounts for more than half of all U.S. abortions. The Supreme Court has a 6-3 conservative majority. Anti-abortion groups led by the recently formed Alliance for Hippocratic Medicine and four anti-abortion doctors sued the FDA in November seeking to reverse approval of mifepristone. Since last year's Supreme Court decision, 12 U.S. states have put in place outright bans while many others prohibit abortion after a certain length of pregnancy.

☆ 1,000-year-old Mayan 'scoreboard' for ancient soccer-like game discovered in Mexico
▼ + stars: | 2023-04-15 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +2 min

An ancient stone "scoreboard" was discovered at an archeological site in Mexico earlier this week. The stone depicts two figures playing an ancient soccer-like ball game, experts said. The circular relic was discovered at the Mayan Chichen Itza site in Mexico's Yucatan peninsula. A worker shows a circular-shaped Mayan scoreboard used for a ball game found at Chichen Itza's archaeological site during a news conference, in Merida, Mexico April 11, 2023. Mesoamerican people played the ball game as a form of traditional practice, and it is thought to have had ritual connotations, per Reuters.

☆ Explainer: U.S. Supreme Court presses pause on abortion pill case for 5 days, What happens next?
▼ + stars: | 2023-04-14 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com time to read: +6 min

HOW DID IT REACH THE SUPREME COURT? Circuit Court of Appeals for an emergency stay putting his injunction on hold. Whether or not the Supreme Court decides to stay Kacsmaryk's order, it will not decide the merits of the case. WHAT HAPPENS AFTER THE SUPREME COURT RULES? Once it does come, the losing side will again have the chance to appeal to the 5th Circuit and, eventually, the Supreme Court.

☆ Biden administration asks US Supreme Court to stop abortion pill limits
▼ + stars: | 2023-04-14 | by ( Andrew Chung | ) www.reuters.com time to read: +5 min

Danco Laboratories, the manufacturer of mifepristone, also asked the U.S. Supreme Court for similar relief on Friday. The Supreme Court has a 6-3 conservative majority. The administration said the lower court orders would have "sweeping consequences" for women who need access to mifepristone and the FDA's scientific judgment authority over drug safety. "The resulting disruption would deny women lawful access to a drug FDA deemed a safe and effective alternative to invasive surgical abortion," the Justice Department told the justices. Since last year's Supreme Court decision, 12 U.S. states have put in place outright bans while many others prohibit abortion after a certain length of pregnancy.

☆ 9 startups bringing AI tech to Netflix, Lucasfilm, Marvel, and more Hollywood studios — and attracting millions in VC funding
▼ + stars: | 2023-04-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

VCs and private equity have poured millions into startups bringing AI tech to film and TV production. AI startups disrupting Hollywood include MARZ and Wonder Dynamics, cofounded by "X Men" star Tye Sheridan. Investment in AI startups for entertainment is "blowing up right now," said Michael Blank, head of consumer investing at CAA. There are already AI tools that can write full scripts. Vendors and investors told Insider that over time, AI tools will change jobs, not replace them.

☆ U.S. appeals court allows abortion pill mifepristone to stay on the market but blocks mail delivery
▼ + stars: | 2023-04-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A federal appeals court has allowed the abortion pill mifepristone to remain on the U.S. market for now, but it imposed major restrictions on the medication that will significantly limit access. The order bars mail delivery of the abortion pill. "If allowed to stand, the consequences of this decision will be catastrophic not just for medication abortion access, but the entire drug approval system." The Alliance Defending Freedom, the anti-abortion group that sued the FDA, said the appeals court decision restores critical safeguards while the litigation proceeds. The order does not impact misoprostol, which is commonly used as a standalone abortion medication in other parts of the world.

An appeals court put part of that decision on hold late Wednesday, preserving access to the pill for now, with significant restrictions the Justice Department will ask the Supreme Court to lift. Neither Kacsmaryk's order, known as a preliminary injunction, nor the 5th Circuit's emergency stay is a final ruling on the merits of the case. REUTERS/Evelyn HocksteinThe Biden administration said on Thursday it will appeal to the Supreme Court for an emergency stay of Kacsmaryk's order in full. If the FDA wins a stay from the Supreme Court blocking the injunction, mifepristone will remain available with no new restrictions. Once it does come, the losing side will again have the chance to appeal to the 5th Circuit and, eventually, the Supreme Court.

April 12 (Reuters) - Abortion opponents on Tuesday urged a U.S. appeals court to allow the suspension of Food and Drug Administration's approval of the abortion pill mifepristone, in a case with potentially far-reaching impact on how the government regulates medicine. The abortion opponents' requests came one day after the U.S. Department of Justice urged the appeals court to put U.S. District Judge Matthew Kacsmaryk's April 7 order voiding the FDA's approval on hold through the appeals process. It is not clear when the 5th Circuit will rule on extending the stay. Twelve of the 16 5th Circuit judges who hear cases are Republican appointees. Circuit Court of Appeals, No.

☆ Rent the Runway's losses narrow as company edges closer to profitability
▼ + stars: | 2023-04-12 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +5 min

Rent the Runway's losses narrowed in its fiscal fourth-quarter earnings reported Wednesday as the digital retailer continues to streamline its costs and work towards profitability. For the full year, the company expects revenue in the range of $320 million to $330 million. Active subscribers excludes those with paused memberships. At the end of the fiscal year, Rent the Runway had 126,712 active subscribers, a 10% increase compared to the year-ago period. The company expects its active subscriber count to grow by more than 25% in the next fiscal year.

☆ Abortion pill ruling puts 'judge shopping' concerns back in spotlight
▼ + stars: | 2023-04-12 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

The Alliance For Hippocratic Medicine wants Judge Kacsmaryk to nullify the FDA's medical approval of mifepristone, which would effectively ban the abortion pill across the US. They argue plaintiffs are skirting the usual process of assigning cases randomly — which is mainly intended to "avoid judge shopping," as one federal court explains. Medication abortion is the most common form of the procedure in the U.S.An attorney for the ADF has rebuffed accusations of judge shopping. Trump was accused of judge shopping for Florida federal Judge Aileen Cannon, whom he appointed, when he filed a sweeping lawsuit in 2022 against his former political rival Hillary Clinton in Cannon's division in Florida. Ziegler echoed the view that even the appearance of judge shopping can erode trust in the courts.

Kacsmaryk, an appointee of Republican former President Donald Trump, stayed his ruling for seven days to allow the Biden administration time to appeal. The Justice Department asked that a stay be entered by April 13, and that it remain in place until all appeals, including if necessary to the Supreme Court, are resolved. Lawyers for the anti-abortion groups that challenged the FDA's approval of mifepristone did not immediately respond to requests for comment. The conflicting rulings could foreshadow a resolution by the Supreme Court, which last June overturned the 1973 Roe v. Wade decision that eliminated a constitutional right to abortion. The Supreme Court has a 6-3 conservative majority.

☆ Pfizer CEO signs letter in support of FDA after federal judge suspends approval of abortion pill
▼ + stars: | 2023-04-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer 's CEO signed on to an industry letter in support of the Food and Drug Administration's authority to regulate drugs after a federal judge in Texas suspended the agency's approval of the abortion pill mifepristone. Albert Bourla was among the more than 200 pharmaceutical company executives who signed the letter after U.S. Judge Matthew Kacsmaryk's controversial ruling on Friday. Kacsmaryk sided with an anti-abortion group, arguing that the FDA rushed its approval process and violated federal standards. Kacsmaryk's decision conflicts with a ruling by a federal judge in Washington state. The dueling orders by two federal judges create a complicated legal standoff that could potentially escalate to the Supreme Court.

☆ Fintech dealmaking is ready for prime time
▼ + stars: | 2023-04-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

It seems the time has finally come for some M&A, and one group is ready to go. I wrote last week about how a couple of blockbuster deals could kick off a spree of dealmaking after a long drought. Insider's Paige Hagy and Bianca Chan identified a bunch of acquisition targets in a segment of the market that is in need of some deals: fintech. One could make the point that every industry has a backlog of potential deals, but fintech seems particularly ripe. For the complete rundown on the 16 fintech and consumer-facing deals JPMorgan has made since 2020, click here.

☆ Abortion pills are still available right now despite a judge's ruling in Texas
▼ + stars: | 2023-04-08 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

That gives the Biden administration time to appeal, and means the abortion pill is still available. The future legal status of the drug was also complicated by a contradictory ruling issued in Washington state also on Friday. However, the judge gave seven days before the ruling would take effect, giving the Biden administration time to appeal the decision and request emergency relief. For now, the drug is still legal and available in states in which it was legal and available prior to Friday's ruling. It's unclear what will happen next, but the Biden administration is very likely to appeal.

The Biden administration is seeking an emergency stay of Kacsmaryk's order from the New Orleans-based 5th U.S. The 5th Circuit has a conservative reputation, with 12 of its 16 active judges appointed by Republican presidents. The FDA could then petition the U.S. Supreme Court for an emergency stay. Regardless of whether it wins an emergency stay of the injunction, the FDA will continue its appeal of Kacsmaryk's preliminary injunction. Once it does come, the losing side will again have the chance to appeal to the 5th Circuit and, eventually, the Supreme Court.

April 7 (Reuters) - A federal judge on Friday halted federal regulators' approval of the abortion pill mifepristone while a legal challenge proceeds, partially granting a request by anti-abortion groups and dealing another setback to abortion rights in the United States. A White House official said they are reviewing the abortion ruling. Kacsmaryk's ruling is a preliminary injunction that would essentially ban sales of mifepristone while the case before him continues. Some abortion providers have said that if mifepristone is unavailable, they would switch to a regimen using only misoprostol for a medication abortion. During the hearing in the case, the judge raised questions about the regulatory process used by the FDA.

☆ Read the Court Decision Ordering the F.D.A. to Keep Mifepristone Available
▼ + stars: | 2023-04-07 | by ( ) www.nytimes.com time to read: +2 min

Plaintiffs contend that mifepristone no longer requires a REMS program 8 with ETASU. Plaintiffs assert that (1) 2 3 4 5 Case 1:23-cv-03026-TOR 7 ECF No. Defendants do not address whether mifepristone qualifies 16 for ETASU, asserting it need only determine whether modifications are appropriate 17 under 21 U.S.C. See ECF Nos. 51 at 25; 78 at 22.

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