The beef industry is having a rough year — and consumers are footing some of the bill from the fallout.
Why it matters: The ransomware attack on meatpacking giant JBS is the latest hit. But other blows, like droughts, could cause sticker shock to stick around for years.
Grindr is adding a new benefit for its LGBTQ+ employees through the concierge service Included Health, Axios has learned.
Why it matters: One of the disproportionate health care challenges faced by LGBTQ+ people is finding nondiscriminatory care — which the dating app Grindr is trying to make easier for its employees.
Three investment firms with deep health care investing experience are forming a new SPAC that will seek to buy a diagnostics company and take it public, Axios has learned.
Between the lines: New SPAC formation has slowed, due to a glut of offerings and new SEC scrutiny, but plenty of veteran investors are continuing to jump into the arena.
The FDA has approved Biogen's Alzheimer's drug, aducanumab, which will be marketed as Aduhelm. Biogen is charging $56,000 per year for the drug.
Why it matters: Aduhelm is the first federally approved Alzheimer's treatment in roughly 18 years, but there is no conclusive evidence the drug slows the decline of memory and brain function.
When news broke last month that groups of buyout firms were bidding around $30 billion to buy medical supplies firm Medline Industries, we speculated that it could kick off a new "Golden Age" of private equity, an era that directly preceded (but didn't cause) the financial crisis.
Driving the news: Medline has picked its patrons, a consortium led by The Blackstone Group, The Carlyle Group and Hellman & Friedman. But the details make this feel more like a growth equity deal on steroids than a mega-LBO of yesteryear.
An International Energy Agency report puts some context around how much the world's largest oil companies are investing in clean energy.
The big picture: The chart above shows the combined investments of a collection of roughly 20 giants, including Shell, Exxon and BP, but also state-controlled companies like Saudi Aramco and China National Petroleum Corp.
Jeff Bezos announced Monday that he and his brother Mark would be among those flying on the first passenger flight of his space company Blue Origin — via a video posted on the billionaire's Instagram account.
The big picture: The passenger flight, the New Shepard, will be launching on July 20, with Bezos and his brother joining the winner of a public auction for one of the seats.
Last week’s economic datadump was nothing if not consistent. Spanning the May jobs report, the Federal Reserve’s Beige Book and business activity indicators, the picture that emerged was one of an economy in recovery — albeit slower than some expected, and jammed with labor and supply shortages.
Why it matters: Taken together, the data gives the Fed cover from making any big monetary decisions or changing its course over the next few months.
AMC has learned its lesson from the meme winter, and is determined to use the meme summer to its advantage. That's the lesson from last week's wild action in AMC stock, much of which was orchestrated by the company itself.
Why it matters: There's a case to be made that AMC only managed to avoid bankruptcy by getting caught up in the meme-stock craze of January, when its share price first became divorced from fundamentals.
Multiple sclerosis drug Tecfidera has propped up Biogen for the past eight years, representing more than a third of the company's sales. But that revenue wave is coming to an end after generic versions of the pill entered the U.S. market last year.
Between the lines: Biogen is banking on federal approval of its Alzheimer's drug, aducanumab, to boost its financial future and offset the decline of Tecfidera.
