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Amazon's Palm-Payment Effort Is a Sneak Attack on Apple and Google
It’s also a potentially massive play to make Amazon the central ID system for your whole life—from banking and loyalty programs to tickets, age verification
Saudi Arabia's Sovereign-Wealth Fund Bets Big at Home
After pumping tens of billions of dollars into global investments, the $700 billion Public Investment Fund is accelerating spending at home, often on obscure startups
U.S. to Ban Some Investments in China
President Biden plans to sign an executive order that will also require U.S. private-equity and venture-capital firms to disclose certain investments in the country. Source
Weight-Loss Drug Wegovy Cuts Heart Risk in New Study
Novo Nordisk’s anti-obesity drug reduced people’s risk of suffering heart attacks, strokes and cardiovascular deaths by 20%. Source link
Paramount to Sell Simon & Schuster to KKR for $1.62 Billion
The sale of the book publisher to the buyout firm comes less than a year after previous deal with Penguin Random House was blocked. Source
Kim Kardashian Taps Ex-Apple, Burberry Executive for Private-Equity Firm
Angela Ahrendts will be joining SKKY Partners as senior operating adviser. Source link
Efforts to Spotlight Private Equity's Healthcare Stakes Struggle for Traction
Congress and regulatory agencies have made scant headway in requiring medical companies to reveal owners. Source link
Pratt & Whitney Engine Problems Lead Airlines to Reduce Some Flights
The aerospace and defense company RTX’s bet on single-aisle jetliners has run into quality and durability concerns. Source link
Superconductors' Viral 'LK-99' Moment Takes Investors for a Wild Ride
Share prices skyrocket, then sink, for companies that don’t even have a direct link to room-temperature superconductors. Source link
Israeli AI Startup Vesttoo Sparks a Global Insurance Scandal
The Tel Aviv-based firm is embroiled in an alleged multibillion-dollar fraud involving faked letters of credit, and may fire its founders. Source link