The Daily Upside

Healthcare

Moderna Is Still Stuck in Post-COVID Limbo

Photo by Mufid Majnun via Pexels

Moderna walked a tightrope trying to convince shareholders it can both develop a new portfolio of drugs and keep costs down in the process.

2 min read

Today’s Upside

Recent News

International Economics

Italy Raises Tax on Wealthy Migrants’ Foreign Income by 100%

Photo by Chris Czermak via Unsplash

Italy doubled a flat tax on the foreign income of new residents, upping it from €100,000 to €200,000 annually.

1 min read
Banking

US Regulators Investigate Banks’ Responses to Scams on Zelle

Photo by Ablokhin via iStock

Major US banks are being probed by the Consumer Financial Protection Bureau (CFPB) over how they handle fraud on P2P payments app Zelle.

2 min read
Markets

Novo Nordisk Slips Amid Disappointing Wegovy Sales

Photo by News Øresund – Johan Wessman via CC BY 2.0

Novo Nordisk’s share price fell over 8% on Wednesday after the company reported lower-than-expected sales of Wegovy.

2 min read
Policy & Power

NYC’s Transit System to Raise $2 Billion Through Real Estate Bonds Backed by ‘Mansion Tax’

Photo by Asael Peña via Unsplash

The MTA plans to raise $2 billion via real estate bonds, backed by the mansion tax, to pay for much-needed infrastructure upgrades.

2 min read
Energy

The Carbon Credit Market Takes a Knock

Photo by Markus Spiske via Unsplash

The Integrity Council for the Voluntary Carbon Market issued some new guidelines on what types of carbon credits it can rubber-stamp.

1 min read
Consumer

Uber Coasts to Another Quarter of Profitability

Photo by Raysonho via CC0 1.0

Uber returned to profitability in the second quarter, bucking macroeconomic trends and proving it can diversify its revenue streams.

2 min read
M&A

Acquisition Could See Cheez-It and Pringles Owner Make a Mars Landing

Photo by Abir Hiranandani via Unsplash

Kellanova popped 16% on the NYSE following a Reuters report that said it’s an acquisition target for privately-held confectionary giant Mars

1 min read
Social Media

TikTok Retreats From Get-Paid-to-Use App Under European Scrutiny

Photo by Olivier Bergeron via Unsplash

TikTok agreed to permanently withdraw a rewards program that it had on “TikTok Lite,” essentially a pared-down version of its core app.

2 min read
Artificial Intelligence

Nvidia Downloaded a ‘Human Lifetime’ Amount of Video Daily to Train Chips

Photo via Nvidia Media Assets

To compile training data for AI chips, Nvidia was downloading 80 years’ worth of video daily off of YouTube, Netflix, and academic databases.

2 min read
FA Upside

Ares Management Breaks Private Credit Fund Record at $34B

Photo by Maryland GovPics via CC BY 2.0

The investment manager’s fund is the largest in a growing number of investments that are fueling the private credit market.

2 min read
FA Upside

BlackRock, Invesco Battle Over Private Asset ETFs

Photo by Abdallahh via CC BY 2.0

The world’s largest asset managers are devising new ETFs that wrap up private investments into a passive fund.

2 min read
FA Upside

Advisors Tack on New Services to Attract Richest Clients

Photo by Pixabay via Pexels

If advisors want to take full advantage of the growing pool of millionaires, they’ll have to provide a wide range of services.

2 min read
Patent Drop

Meta Patent Uses AI, AR to Guide Users with Sensory Impairments

Photo via U.S. Patent and Trademark Office

Meta’s recent patent aims to guide people with sensory impairments using an AI agent — but viable and long-lasting smart glasses may be difficult to…

2 min read
Patent Drop

Disney Patent Brings AI-Free Robotics to Entertainment, Animation

Photo via U.S. Patent and Trademark Office

The simplicity of this method makes it applicable to “almost any type of robot.”

2 min read
Patent Drop

Mastercard Patent Could Prevent Biometric Data Attacks

Photo via U.S. Patent and Trademark Office

Mastercard’s efforts add to those of several companies looking at ways to prove real from fake.

2 min read
Markets

Key Indicators Send Markets Into ‘Recession’ Chatter

Photo by Federal Reserve Board of Governors via Public Domain Mark 1.0

Friday ended with the main indices in Asia, Europe, and New York pointing down in unison, the Nasdaq even entering correction.

2 min read
Finance

Berkshire Hathaway Takes a Steps Back from Apple, Builds Cash Pile

(Photo Credit: Serba Sembilan/Flickr)

Berkshire Hathaway slashed its stake in Apple by nearly 40%, helping grow the Omaha company’s cash pile to more than $270 billion.

1 min read
Technology

Can Meta’s Threads Power the ‘Fediverse’ into the Mainstream?

Photo by Julio Lopez via Unsplash

Threads’ user count is a big deal for the federation of decentralized but interconnected social networks — the fediverse — it’s part of.

2 min read
Finance

How Will Wall Street’s AI Experiment End?

Photo illustration by Connor Lin / The Daily Upside, Photo by Andrey Krav via iStock

Like money, artificial intelligence never sleeps. Financial institutions have pulled out all the stops to fit AI into their own operations.

5 min read
Healthcare

WeightWatchers Flounders in the Ozempic Era

Photo by Slgckgc via CC BY 2.0

WW announced on Thursday that it will be laying off employees and cutting costs to the tune of $100 million per year.

1 min read