Esports just made its way onto ‘The Simpsons’ — here’s why that matters

Now Bart Simpson has found himself at the heart of what could be a billion-dollar industry this year: esports. The perennial Springfield Elementary School student became an electronic sports athlete — esports athlete, for short — in Sunday’s episode of “The Simpsons” titled “E My Sports.” Research firm Newzoo estimates that the global esports audience, which includes casual and dedicated viewers, will reach almost 454 million this year. Riot Games, which was consulted for the episode, says “The


Now Bart Simpson has found himself at the heart of what could be a billion-dollar industry this year: esports. The perennial Springfield Elementary School student became an electronic sports athlete — esports athlete, for short — in Sunday’s episode of “The Simpsons” titled “E My Sports.” Research firm Newzoo estimates that the global esports audience, which includes casual and dedicated viewers, will reach almost 454 million this year. Riot Games, which was consulted for the episode, says “The
Esports just made its way onto ‘The Simpsons’ — here’s why that matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: annie pei
Keywords: news, cnbc, companies, world, legends, told, heres, team, esports, matters, viewers, simpsons, games, industry, episode, way


Esports just made its way onto 'The Simpsons' — here's why that matters

He has discovered a comet. He has performed in a boy band. Now Bart Simpson has found himself at the heart of what could be a billion-dollar industry this year: esports.

The perennial Springfield Elementary School student became an electronic sports athlete — esports athlete, for short — in Sunday’s episode of “The Simpsons” titled “E My Sports.” Bart essentially gets a new computer and finds himself glued to “Conflict of Enemies,” based on Tencent-owned publisher Riot Games’ “League of Legends” game. He eventually travels to Seoul to play in a world championship match with Homer acting as coach after the latter finds out how much money can be made in esports (the highest-paid players can make millions).

Co-executive producer Rob LaZebnik said the episode was meant to embody a “cultural tipping point” that has seen esports dominate a lot of conversation about the future of entertainment, sports and media.

“I think it feels kind of inevitable,” LaZebnik told CNBC. “Obviously, video games have been around for a very long time now, and combine that with the fact that everyone is online and on his or her phone, [the expansion of esports] feels so inevitable to me.”

“League of Legends” has been one of the key games driving the growth of esports for years, with 2018’s World Championship finals drawing in almost 100 million unique viewers, about the same number as this year’s NFL Super Bowl.

This comes as esports viewership and revenue overall has increased year on year. Research firm Newzoo estimates that the global esports audience, which includes casual and dedicated viewers, will reach almost 454 million this year. Company sponsorships could account for up to 42 percent of the $1.1 billion in revenue projected by Newzoo.

Riot Games, which was consulted for the episode, says “The Simpsons'” focus on esports benefits the industry as a whole.

“We hope that this episode, on top of all the work we’re doing around the world establishing leagues that are working with leading brands like Nike and Mercedes-Benz, as well as the rising popularity of streamers and pro players, will make a real impact on how people view ‘League of Legends’ esports in the long term,” a Riot representative told CNBC.

The show producers toured the training facilities of one of the world’s oldest esports teams, Team Liquid, for the episode. Team Liquid owner and industry veteran Steve Arhancet ultimately believes esports’ appearance on “The Simpsons” shows the staying power of the space in Western culture, a shift from the more Asia-focused approach esports had traditionally taken in the past.

“There’s many young kids out there who will empathize with this episode on ‘The Simpsons’ more than any other football, soccer or basketball episode they’ve created — just like I would have,” he said. “It’s another milestone that shows esports is here to stay.”

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Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: annie pei
Keywords: news, cnbc, companies, world, legends, told, heres, team, esports, matters, viewers, simpsons, games, industry, episode, way


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Beto O’Rourke received backing from big tech in 2018 – that could be a blessing and a curse for 2020

Likewise, perceived coziness with big tech could pose political risks with rising bipartisan calls to crack down on and regulate the industry. Chris Espinosa, who was designated Apple’s eighth employee after the company was founded in the 1970s, gave O’Rourke $2,700. Apple employees gave O’Rourke’s campaign just over $90,000 during the 2018 campaign. O’Rourke himself was once involved in the tech industry, having founded the internet services and software company Stanton Street Technology Group.


Likewise, perceived coziness with big tech could pose political risks with rising bipartisan calls to crack down on and regulate the industry. Chris Espinosa, who was designated Apple’s eighth employee after the company was founded in the 1970s, gave O’Rourke $2,700. Apple employees gave O’Rourke’s campaign just over $90,000 during the 2018 campaign. O’Rourke himself was once involved in the tech industry, having founded the internet services and software company Stanton Street Technology Group.
Beto O’Rourke received backing from big tech in 2018 – that could be a blessing and a curse for 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: brian schwartz, joshua lott, bloomberg, getty images
Keywords: news, cnbc, companies, 2018, 2020, democratic, donors, gave, campaign, backing, orourkes, support, beto, blessing, received, industry, tech, big, curse, orourke


Beto O'Rourke received backing from big tech in 2018 – that could be a blessing and a curse for 2020

Beto O’Rourke enjoyed strong support from tech industry workers and executives during his ultimately unsuccessful U.S. Senate campaign last year in Texas, which could give the breakout Democratic star a fundraising edge over his primary opponents as he seeks to challenge President Donald Trump in 2020.

Yet, it will likely be a point of contention for the new campaign.

O’Rourke – who announced Monday that he raked in a record $6.1 million in the first 24 hours of his 2020 campaign – and several of his Democratic rivals have made it a point to distance themselves from corporate money. Likewise, perceived coziness with big tech could pose political risks with rising bipartisan calls to crack down on and regulate the industry.

During his shockingly close loss to Republican Sen. Ted Cruz in deep red Texas, O’Rourke raised tens of millions of dollars, much of it from so-called small donors, or people who give $200 or less. As the Democratic former congressman touted his success among smaller donors, while rejecting money from corporations and super PACs, he also reaped the benefits from bigger-dollar donors, such as executives and employees from major tech companies such as Apple, Facebook and Amazon.

Amazon’s top spokesman, Jay Carney, gave $1,500 directly to the O’Rourke campaign. Carney previously served as White House press secretary to President Barack Obama, to whom O’Rourke has been compared. Brian Olsavsky, the company’s financial chief, wrote a check for $2,700 to O’Rourke’s 2018 campaign, which is the most an individual can give in an election. Amazon employees, overall, gave $75,751 to his campaign.

O’Rourke finished the 2018 campaign having raised $80 million, with 45 percent coming from small donors. The rest came from people giving more than $200, including important players at Facebook and Apple.

Chris Espinosa, who was designated Apple’s eighth employee after the company was founded in the 1970s, gave O’Rourke $2,700. Apple employees gave O’Rourke’s campaign just over $90,000 during the 2018 campaign.

Alex Stamos, who was Facebook’s chief security officer until August, also gave $2,700 to O’Rourke’s campaign. Stamos told CNBC that he has not decided whom to support among the Democratic field. But he did say he is advising campaigns on cybersecurity in the wake of Russia’s interference and hacking during the 2016 cycle.

“One of the great benefits of not being a professional political operative is that I don’t have to pick sides 20 months before the general election,” Stamos said. “I’ve been trying to be helpful to multiple Democratic campaigns, and right now my focus is on helping them get their campaign technology stacks set up in a secure manner.”

He declined to name the campaigns he’s helping.

It is also not clear whether Carney, Olsavsky or Espinosa would support O’Rourke during the 2020 campaign. Representatives from Facebook, Amazon and Apple did not return repeated requests for comment. A spokesman for O’Rourke did not return an email seeking comment.

O’Rourke’s 2020 campaign has yet to announce how much of his recent $6.1 million haul came from smaller donations. The Texas Democrat has repeatedly said his campaign will not be financed by political action committees, corporations or special interests. In the run-up to O’Rourke’s first big fundraising splash of the presidential campaign, Louis Susman, a bundler for Obama, had been privately making calls to “family and friends” to coax support for O’Rourke, he told CNBC last week.

O’Rourke himself was once involved in the tech industry, having founded the internet services and software company Stanton Street Technology Group. Up until the middle of 2017, his wife, Amy, ran the business, which is based in their home city of El Paso. A recent Reuters report, meanwhile, revealed that O’Rourke was involved decades ago with America’s oldest hacking group, the Cult of the Dead Cow.

Support from people in the tech industry could have downsides for O’Rourke as several of his rivals have taken aim at Silicon Valley.

Sen. Elizabeth Warren, for instance, has called for the breakup of big firms, such as Google and Apple.

“Today’s big tech companies have too much power — too much power over our economy, our society, and our democracy. They’ve bulldozed competition, used our private information for profit, and tilted the playing field against everyone else. And in the process, they have hurt small businesses and stifled innovation,” she said in a blog post.

Another 2020 Democratic candidate, Sen. Amy Klobuchar, has called for tighter regulations on tech companies. Trump himself has attacked Amazon and Google.

O’Rourke has yet to cite specific policy stances on regulating the tech industry.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: brian schwartz, joshua lott, bloomberg, getty images
Keywords: news, cnbc, companies, 2018, 2020, democratic, donors, gave, campaign, backing, orourkes, support, beto, blessing, received, industry, tech, big, curse, orourke


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Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf


The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf
Electric vehicles could cost the auto industry millions of jobs, a top analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst.

Morgan Stanley’s Adam Jonas said in a research note Friday that the auto industry is going to see serious, widespread changes to its labor force. Jonas said electric vehicle production will lead to heavy workforce cuts as companies like Elon Musk’s Tesla push big automakers to make them part of the mainstream.

“As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said.

Jonas earned a wide following on Wall Street for his early calls on Tesla, as well as his thoughts on electric vehicles. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transforming the way cars are made.

Morgan Stanley estimates that the global auto supply chain employs “in the range of 11 million people.” Jonas pointed to recent statements by VW Group CEO Herbert Diess, who said it takes 30 percent less labor to produce an electric vehicle than a similarly priced car that has the traditional internal combustion engine. This would result in a headcount cut of more than 3 million workers from the global auto industry.

But that number could increase, Jonas said.

Jonas said tech start-ups like Tesla and Rivian could build electric vehicles at “a 50 percent reduction in direct labor … or more.” That would reduce the global auto supply chain labor force even further. Even at just a 30 percent cut, Jonas estimates the labor force reduction would cost automakers “collectively and over time upwards of” $60 billion.

Maintenance and servicing for electric vehicles is less expensive than traditional cars, another consideration in terms of the labor force needed as the switch to the newer cars continues.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


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Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf


The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf
Electric vehicles could cost the auto industry millions of jobs, a top analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst.

Morgan Stanley’s Adam Jonas said in a research note Friday that the auto industry is going to see serious, widespread changes to its labor force. Jonas said electric vehicle production will lead to heavy workforce cuts as companies like Elon Musk’s Tesla push big automakers to make them part of the mainstream.

“As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said.

Jonas earned a wide following on Wall Street for his early calls on Tesla, as well as his thoughts on electric vehicles. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transforming the way cars are made.

Morgan Stanley estimates that the global auto supply chain employs “in the range of 11 million people.” Jonas pointed to recent statements by VW Group CEO Herbert Diess, who said it takes 30 percent less labor to produce an electric vehicle than a similarly priced car that has the traditional internal combustion engine. This would result in a headcount cut of more than 3 million workers from the global auto industry.

But that number could increase, Jonas said.

Jonas said tech start-ups like Tesla and Rivian could build electric vehicles at “a 50 percent reduction in direct labor … or more.” That would reduce the global auto supply chain labor force even further. Even at just a 30 percent cut, Jonas estimates the labor force reduction would cost automakers “collectively and over time upwards of” $60 billion.

Maintenance and servicing for electric vehicles is less expensive than traditional cars, another consideration in terms of the labor force needed as the switch to the newer cars continues.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


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Is Amazon a friend or foe of the auto industry? Morgan Stanley isn’t sure

Morgan Stanley’s widely followed auto analyst Adam Jonas is closely watching what Amazon’s doing in the electric vehicles space, but he hasn’t decided if the online giant will be a friend or foe of those established carmakers like General Motors. It really matters… and it raises the question: Is Amazon a potential partner with GM, or a competitor against GM? The tech giant also invested in a $530 million round of funding for Aurora, a startup developing autonomous systems that could rival those


Morgan Stanley’s widely followed auto analyst Adam Jonas is closely watching what Amazon’s doing in the electric vehicles space, but he hasn’t decided if the online giant will be a friend or foe of those established carmakers like General Motors. It really matters… and it raises the question: Is Amazon a potential partner with GM, or a competitor against GM? The tech giant also invested in a $530 million round of funding for Aurora, a startup developing autonomous systems that could rival those
Is Amazon a friend or foe of the auto industry? Morgan Stanley isn’t sure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: yun li, smith collection, gado, getty images
Keywords: news, cnbc, companies, cruise, morgan, isnt, stanley, widely, vehicles, foe, industry, selfdriving, auto, tech, electric, rivian, sure, friend, gm, startup, jonas, amazon


Is Amazon a friend or foe of the auto industry? Morgan Stanley isn't sure

Morgan Stanley’s widely followed auto analyst Adam Jonas is closely watching what Amazon’s doing in the electric vehicles space, but he hasn’t decided if the online giant will be a friend or foe of those established carmakers like General Motors.

“Watch what Amazon is doing. It really matters… and it raises the question: Is Amazon a potential partner with GM, or a competitor against GM? Both could also be an option,” Jonas said in a note on Wednesday.

Amazon recently invested in two automotive tech firms. It led a $700 million investment in electric vehicle makers, Rivian. The tech giant also invested in a $530 million round of funding for Aurora, a startup developing autonomous systems that could rival those from GM Cruise. The company is already hauling some cargo in self-driving trucks from a startup called Embargo.

Jonas previously said Rivian “clean sheet” approach could make it “the next Tesla.”

The aggressive investments in the automotive startups followed Amazon’s plan to have half of its trips be carbon neutral by 2030, which Jonas said requires “an aggressive adoption” of electric vehicles. Jonas is widely recognized on Wall Street as one of the first to note the significance of Tesla and electric vehicles to the auto industry.

Amazon also has reportedly hired GM’s outgoing executive vice president of global manufacturing, Alicia Boler Davis.

GM’s self-driving car subsidiary, Cruise, reportedly is planning to hire 1,000 more people, mostly engineers, over the next nine months. However, Jonas remains doubtful that self-driving could be a reality anytime soon due to the technological and legal hurdles.

“While GM Cruise is widely seen as a leader in AVs, we do not believe the human safety driver can be removed from any appreciable amount of fleet for many years… if not more than a decade,” Jonas said.

— With reporting from Michael Sheetz


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: yun li, smith collection, gado, getty images
Keywords: news, cnbc, companies, cruise, morgan, isnt, stanley, widely, vehicles, foe, industry, selfdriving, auto, tech, electric, rivian, sure, friend, gm, startup, jonas, amazon


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This group of tech stocks is in a ‘must-own industry,’ Oppenheimer says

Ari Wald, head of technical analysis at Oppenheimer, calls this group a “must-own industry” and says the IGV ETF is about to break out even more. The IGV ETF is less than 1 percent from breaking out above $206. It has very high margins,” Sanchez said on “Trading Nation” on Monday. The software ETF has profit margins at 30 percent of total revenue, according to FactSet, higher than the 20 percent margins on the broader S&P 500. The IGV ETF is just 2 percent from record highs.


Ari Wald, head of technical analysis at Oppenheimer, calls this group a “must-own industry” and says the IGV ETF is about to break out even more. The IGV ETF is less than 1 percent from breaking out above $206. It has very high margins,” Sanchez said on “Trading Nation” on Monday. The software ETF has profit margins at 30 percent of total revenue, according to FactSet, higher than the 20 percent margins on the broader S&P 500. The IGV ETF is just 2 percent from record highs.
This group of tech stocks is in a ‘must-own industry,’ Oppenheimer says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: keris lahiff, adam jeffery, haidar mohammed ali, afp, getty images, scott olson, brendan mcdermid, drew angerer, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, industry, mustown, margins, sanchez, think, wald, software, stocks, oppenheimer, trading, igv, continue, group, right, etf, tech


This group of tech stocks is in a 'must-own industry,' Oppenheimer says

One slice of the tech space is outperforming.

The IGV tech-software sector ETF, which holds stocks such as Salesforce.com and Oracle, is up more than 18 percent in 2019, better than the 15 percent gain on the broader XLK technology ETF.

Ari Wald, head of technical analysis at Oppenheimer, calls this group a “must-own industry” and says the IGV ETF is about to break out even more.

“The ETF has pushed right up into its 2018 highs at around $206. That’s resistance. Aside from what could be a pause here, we think investors want to own this ETF ahead of what we think is going to be a breakout above this resistance level,” said Wald.

The IGV ETF is less than 1 percent from breaking out above $206. It fell below that level last week.

“You have a bullish trend going into it. You can see that rising 200-day moving average. The ETF also scores well in our momentum ranks. That speaks to the relative leadership,” Wald said Monday on CNBC’s “Trading Nation.”

Microsoft, which holds an 8 percent weighting in the IGV ETF, is an example of the type of software company likely to lead the group higher, according to Wald.

Wald said it is “also reversing its near-term downtrend and we think positioned to see a resumption of its long-term uptrend, so overall we think these high-growth companies continue to lead the S&P’s secular advance in this low growth world.”

The fundamentals of these software companies should continue to work in their favor, said Gina Sanchez, CEO of Chantico Global.

“One of the reasons it has done well is that it is a very profitable business. It has very high margins,” Sanchez said on “Trading Nation” on Monday.

The software ETF has profit margins at 30 percent of total revenue, according to FactSet, higher than the 20 percent margins on the broader S&P 500.

“If you can get it right, it doesn’t take a lot of extra effort to continue to sell thousands or even millions of licenses on a piece of software. It really just takes maintenance and continued maintenance,” said Sanchez. “On the investor side, you’re starting to see some fatigue but we’re not seeing that in the pricing. The markets are still rewarding these companies.”

The IGV ETF is just 2 percent from record highs. It has bounced 29 percent off its Christmas Eve lows.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: keris lahiff, adam jeffery, haidar mohammed ali, afp, getty images, scott olson, brendan mcdermid, drew angerer, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, industry, mustown, margins, sanchez, think, wald, software, stocks, oppenheimer, trading, igv, continue, group, right, etf, tech


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Amazon’s joint health-care venture finally has a name: Haven

In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs. Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as ins


In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs. Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as ins
Amazon’s joint health-care venture finally has a name: Haven Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: angelica lavito, christina farr, hugh son, getty images, cnbc, c-r, south china morning post, adam galica
Keywords: news, cnbc, companies, amazons, patient, gawande, leaders, finally, wants, system, industry, joint, venture, website, haven, healthcare, costs


Amazon's joint health-care venture finally has a name: Haven

In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs.

Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as insurers, providers and pharmacy benefit managers rather than uprooting them.

The website also includes a letter where Gawande describes Haven’s role as being “an advocate for the patient and an ally to anyone — clinicians, industry leaders, innovators, policymakers, and others — who makes patient care and costs better.”

That follows a statement from Haven Chief Operating Officer Jack Stoddard, who recently said the group wants to make health care easier to understand, less expensive and ideally produce better outcomes for employees, according to court testimony in a hiring dispute between the new venture and a unit of insurer UnitedHealth Group.

And at a dinner during J.P. Morgan’s annual health-care conference in January, Dimon told a room of industry leaders that he and his partners “are not happy with health-care costs and want to help,” according to two people with knowledge of the event who asked not to be named because it was private.

Here’s the full copy of the memo from Gawande:


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: angelica lavito, christina farr, hugh son, getty images, cnbc, c-r, south china morning post, adam galica
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Biotech stocks fall after FDA chief Scott Gottlieb resigns

Biotechnology stocks were falling on Wednesday after Food and Drug Administration Commissioner Scott Gottlieb said he is resigning from his post at the agency. The biggest drops were Amgen, Gilead Sciences and Biogen, which were all down more than 2 percent in midmorning trading. Salim Syed, senior biotech analyst at Mizuho Securities, told CNBC that Gottlieb represented a more “friendly FDA,” adding he was “generally really liked by the biopharma investment community.” Gottlieb is resigning to


Biotechnology stocks were falling on Wednesday after Food and Drug Administration Commissioner Scott Gottlieb said he is resigning from his post at the agency. The biggest drops were Amgen, Gilead Sciences and Biogen, which were all down more than 2 percent in midmorning trading. Salim Syed, senior biotech analyst at Mizuho Securities, told CNBC that Gottlieb represented a more “friendly FDA,” adding he was “generally really liked by the biopharma investment community.” Gottlieb is resigning to
Biotech stocks fall after FDA chief Scott Gottlieb resigns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: berkeley lovelace jr, cameron costa
Keywords: news, cnbc, companies, secretary, resigning, fall, parry, chief, drug, letter, scott, told, industry, fda, resigns, resignation, stocks, biotech, gottlieb


Biotech stocks fall after FDA chief Scott Gottlieb resigns

Biotechnology stocks were falling on Wednesday after Food and Drug Administration Commissioner Scott Gottlieb said he is resigning from his post at the agency.

The IBB, an ETF that tracks biotech’s biggest players, was down more than 2 percent Wednesday, on pace for its worst day since Feb. 7, when it lost 2.5 percent. The biggest drops were Amgen, Gilead Sciences and Biogen, which were all down more than 2 percent in midmorning trading.

Salim Syed, senior biotech analyst at Mizuho Securities, told CNBC that Gottlieb represented a more “friendly FDA,” adding he was “generally really liked by the biopharma investment community.”

“Finding somebody better than him, that’ll be hard,” he added.

Gottlieb is resigning to spend more time with his family, he said in a letter to FDA staff. The physician has been commuting from his home in Westport, Connecticut, where his wife and three young daughters live. He tendered his resignation to Health and Human Services Secretary Alex Azar in a letter Tuesday.

Graham Parry, a research analyst at Merrill Lynch who covers the sector, told clients late Tuesday that Gottlieb’s resignation was a “net negative for innovative biopharma companies.”

Gottlieb is widely respected in the industry. In his first year as commissioner, Gottlieb approved a record number of new and generic drugs. Before his appointment, he served on the board of several drug companies and worked as an industry consultant.

“Gottlieb, in our view, as a healthcare policy expert, has been a key influence and architect, along with HHS secretary Alex Azar (former Pharma executive), of relatively innovator-friendly, evidence-based Trump administration healthcare policies and reforms laid out in its drug pricing blueprint last year,” Parry said.

The FDA has not selected a replacement for Gottlieb.

— CNBC’s Angelica LaVito and Gina Francolla contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: berkeley lovelace jr, cameron costa
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Connectivity and digitization driving change in car industry, CEO of Samsung’s Harman says

Personalization, digitization, user experience and live connectivity in cars are driving change in the industry, according to the CEO of Samsung’s American subsidiary Harman. People felt disconnected in their cars through not having the “same ecosystem” as the one outside their vehicle, Paliwal said. Today’s cars boast a broad range of technological features, from Bluetooth and automated parking to digital assistants and inbuilt satellite navigation systems. “They’re saying, ‘this is an existent


Personalization, digitization, user experience and live connectivity in cars are driving change in the industry, according to the CEO of Samsung’s American subsidiary Harman. People felt disconnected in their cars through not having the “same ecosystem” as the one outside their vehicle, Paliwal said. Today’s cars boast a broad range of technological features, from Bluetooth and automated parking to digital assistants and inbuilt satellite navigation systems. “They’re saying, ‘this is an existent
Connectivity and digitization driving change in car industry, CEO of Samsung’s Harman says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: anmar frangoul
Keywords: news, cnbc, companies, digitization, digital, motor, paliwal, ceo, week, change, cars, driving, samsungs, industry, personalization, connectivity, weisbach, car, wednesdaypeople, harman


Connectivity and digitization driving change in car industry, CEO of Samsung's Harman says

Personalization, digitization, user experience and live connectivity in cars are driving change in the industry, according to the CEO of Samsung’s American subsidiary Harman.

“Cars used to be where we spent a lot of time, and very private time,” Dinesh Paliwal told CNBC’s Annette Weisbach at the Geneva Motor Show on Wednesday.

People felt disconnected in their cars through not having the “same ecosystem” as the one outside their vehicle, Paliwal said.

Today’s cars boast a broad range of technological features, from Bluetooth and automated parking to digital assistants and inbuilt satellite navigation systems.

Earlier this week, for example, the Hyundai Motor Group announced it had developed a digital key that enables drivers to unlock, start and drive their car using a smartphone.

According to Paliwal, there had been a “major awakening” in the industry. “They’re saying, ‘this is an existential issue, we need to keep up and catch up the digitization and personalization in the car’.”

This was fueling a whole new discussion, he explained. “It’s not about brakes, it’s not about the new lights, it’s not about… new luxury, it’s about new digital ecosystems.”

Harman specialises in the design and engineering of connected technology. The business was acquired by Samsung Electronics for $8 billion in 2018.

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Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: anmar frangoul
Keywords: news, cnbc, companies, digitization, digital, motor, paliwal, ceo, week, change, cars, driving, samsungs, industry, personalization, connectivity, weisbach, car, wednesdaypeople, harman


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Amazon’s joint health-care venture finally has a name: Haven

In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs. Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as ins


In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs. Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as ins
Amazon’s joint health-care venture finally has a name: Haven Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: angelica lavito, christina farr, hugh son, getty images, cnbc, c-r, south china morning post, adam galica
Keywords: news, cnbc, companies, amazons, patient, gawande, leaders, finally, wants, system, industry, joint, venture, website, haven, healthcare, costs


Amazon's joint health-care venture finally has a name: Haven

In addition to its new brand, the company also unveiled a website with more details about the venture, including a number of areas of focus. These include: Improving the process of navigating the complex health-care system, and accessing affordable treatments and prescription drugs.

Haven also said on its website that it’s interested in working with clinicians and insurance companies to improve the overall health-care system, suggesting the venture wants to work with existing players such as insurers, providers and pharmacy benefit managers rather than uprooting them.

The website also includes a letter where Gawande describes Haven’s role as being “an advocate for the patient and an ally to anyone — clinicians, industry leaders, innovators, policymakers, and others — who makes patient care and costs better.”

That follows a statement from Haven Chief Operating Officer Jack Stoddard, who recently said the group wants to make health care easier to understand, less expensive and ideally produce better outcomes for employees, according to court testimony in a hiring dispute between the new venture and a unit of insurer UnitedHealth Group.

And at a dinner during J.P. Morgan’s annual health-care conference in January, Dimon told a room of industry leaders that he and his partners “are not happy with health-care costs and want to help,” according to two people with knowledge of the event who asked not to be named because it was private.

Here’s the full copy of the memo from Gawande:


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: angelica lavito, christina farr, hugh son, getty images, cnbc, c-r, south china morning post, adam galica
Keywords: news, cnbc, companies, amazons, patient, gawande, leaders, finally, wants, system, industry, joint, venture, website, haven, healthcare, costs


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