NBCUniversal and PointsBet are extending their five-year sports betting deal by two years, executives told Axios. The extension amends the initial deal terms to reduce PointsBet’s annual ad spend commitment with NBCU properties and to shift some of its ad spend obligations to more regional NBCU assets.
Why it matters: The changes allow NBCU to continue with its betting strategy while also helping PointsBet, an Australian online sports book operator, focus its advertising spend on the 14U.S. states it currently operates in.
A small but growing number of police departments are using a new AI system that analyzes officers' bodycam footage and flags problematic encounters — as well as commendable ones.
Why it matters: Police departments may be more likely to seek out such tools after five Memphis Police Department officers were charged with second-degree murder and other crimes in the death of Tyre Nichols.
A federal appellate court on Monday rejected Johnson & Johnson's attempt to shed its baby powder liabilities by transferring them to a subsidiary and placing that subsidiary in bankruptcy.
Why it matters: J&J faces some 38,000 lawsuits from people and their survivors claiming that the company's talc-based powder caused cancer — an allegation that J&J has repeatedly denied.
ByteDance, the Chinese maker of TikTok, is the world's most valuable startup. But in an era when tech industry share prices are falling and pink slips are flying, it may also be the world's most beleaguered startup.
Driving the news: TikTok CEO Shou Zi Chew has agreed to testify before the House Energy and Commerce Committee on March 23, his first-ever appearance before a Congressional committee.
Paradigm, a New York-based clinical trial tech platform, raised $203 million in Series A funding and acquired an oncology patient recruitment startup called Deep Lens.
Why it matters Clinical trial recruitment is a costly bottleneck for drug development, yet many patients struggle to access relevant trials. Thus a new class of matchmaking infrastructure startups like Paradigm, whose outsized bankroll could help it quickly catch rivals.
As the cryptocurrency market imploded last year, Gemini Earn customers repeatedly asked the company if their assets were safe. Some of Gemini’s responses, reviewed by Axios, emphasized connections to the Federal Deposit Insurance Corporation.
Why it matters: Customers say that led them to believe their accounts were insured by the government agency. They weren’t.
The meteoric rise in food prices slowed slightly in December, per a new Axios analysis — but prices were still up more than 10% year-over-year, as groceries and restaurants gobbled up a larger-than-usual amount of Americans' spending.
Why it matters: Grocery bills are one of the most powerful ways in which many Americans experience inflation.
Mining giant Rio Tinto apologized Monday as authorities in Western Australia searched for a tiny radioactive capsule that went missing in the vast Australian state.
Driving the news: A radiation alert was issued across parts of W.A. after the capsule containing a small amount of radioactive Caesium-137 vanished while being transported from Rio Tinto's Gudai-Darri mine in the remote Pilbara region to a storage facility about 870 miles away in state capital Perth, authorities said.
Fidelity has marked down the value of its Twitter stock by more than 60% since Elon Musk acquired the company at the end of October, according to new disclosures.
By the numbers: Fidelity, which helped Musk finance his $44 billion takeover, slashed the carrying price of its shares by 9.58% between the end of November and the end of December.
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