Palantir CEO Alex Karp acknowledged that some employees at his software company have left due to his public support for Israel, and he anticipates more departures.

“We’ve lost employees. I’m sure we’ll lose employees,” Karp said in an interview with CNBC’s “Money Movers.” “If you have a position that does not cost you ever to lose an employee, it’s not a position.”

Karp made these comments in response to a question from anchor Sara Eisen about the turnover at the company resulting from its controversial stances.

Palantir, known for its government contract work in defense and intelligence, has provided its technology to support the Ukrainian and Israeli militaries in their respective wars.

Karp expressed his pride in Palantir’s involvement in crucial operations in Israel shortly after October 7. The company held its first board meeting of the year in Tel Aviv, Israel, in January, and subsequently agreed to a “strategic partnership” with the Israeli Ministry of Defense to supply technology for its military efforts.

In November, Karp reaffirmed the company’s support for the U.S. government and Israel, stating that “Palantir only supplies its products to Western allies.”

During the interview, Karp reiterated his pro-Israel stance. Eisen mentioned the company’s decision in October to place a full-page ad in The New York Times, declaring its solidarity with Israel.

A 34-year-old Russian-Canadian national, Mikhail Vasiliev, residing in Ontario, has been sentenced to nearly four years in jail in Canada for his involvement in the global ransomware operation, LockBit.

Vasiliev was arrested in November 2022 and charged by the U.S. Department of Justice (DoJ) for conspiring with others to intentionally damage protected computers and transmit ransom demands. His sentencing was reported by CTV News.

Authorities discovered that Vasiliev kept a list of potential victims and screenshots of communications with “LockBitSupp” on the Tox messaging platform.

A search of his home uncovered a text file with instructions to deploy LockBit ransomware, the ransomware’s source code, and a control panel used by the e-crime group to deliver the malware.

Vasiliev pleaded guilty to eight counts of cyber extortion, mischief, and weapons charges last month. During sentencing, Justice Michelle Fuerst described him as a “cyber terrorist” motivated by greed.

He reportedly began his criminal activities during the COVID-19 pandemic, attempting to extort ransom payments from three Canadian companies between 2021 and 2022 by stealing and holding their data hostage.

Additionally, Vasiliev has agreed to be extradited to the U.S. and has been ordered to pay over $860,000 in restitution.

Cognition AI, a startup focused on artificial intelligence (AI), has attracted the attention of billionaire venture capitalist Peter Thiel, marking another significant AI investment in his portfolio.

According to a report from Bloomberg, Cognition AI’s technology has the potential to revolutionize the industry by converting user data into tangible, interactive mediums like websites or video games.

Despite operating from a Midtown New York City apartment, the company is positioning itself as a trailblazer in AI application. With the internet’s profound impact on the global economy in mind, parallels are being drawn between AI initiatives and their transformative potential.

Thiel’s investment has thrust Cognition AI into the spotlight, creating ripples in the technology sector, especially among AI-driven enterprises. With data trends on a steep growth trajectory and increasing investments in AI startups, AI could significantly reshape the global economy.

This underscores the growing significance and value of investing in AI startups, with Cognition AI potentially leading the charge in defining the next phase of technological evolution.

Invenergy Wind LLC has achieved a significant milestone by commencing the commercial operation of its inaugural onshore wind power facility, the Rusutsu Wind Power Plant, on March 14, 2024.

Situated in Rusutsu Village, Abuta District, approximately 60 km southwest of Sapporo, Hokkaido, the Rusutsu Wind Power Plant operates at an altitude of 800 m.

Despite facing challenging geographical and meteorological conditions, including heavy snowfall, the project has successfully maximized the region’s renewable energy generation capacity. With a total output of 63 MW, the plant comprises 15 cutting-edge, large-scale wind turbines manufactured by GE Vernova in the United States, each boasting an output of 4.2 MW.

This initiative is expected to curtail carbon emissions by 64,000 tpy while supplying electricity to approximately 35,000 households in Hokkaido.

Masayuki Oya, Japan General Manager of Invenergy Wind LLC, expressed pride in the company’s achievement, stating, “We are proud that Invenergy has begun commercial operation of the Rusutsu Wind Power Plant as its first wind power project in the Japanese market.

We would like to thank our partner companies for their understanding and cooperation, which made it possible to complete the project. We will continue to work with the communities in the development area to provide more clean energy generated from wind power. We will work hard to make it possible.”

Having established a presence in Japan for over a decade, primarily focusing on the development of a solar power project portfolio, Invenergy has now ventured into onshore wind power with the Rusutsu Wind Farm.

This expansion underscores the company’s commitment to supporting Japan’s clean energy objectives. In 2023, Invenergy reinforced its domestic leadership team by appointing Masayuki Oya to spearhead its Japan operations and cultivate a pipeline of future wind projects.

In March 1986, a pivotal moment in artificial intelligence (AI) history occurred. This was during the presidency of Ronald Reagan before the Dow Jones Industrial Average surpassed 2,000 points, and long before the internet, iPhones, and chatbots were part of everyday life. OpenAI CEO Sam Altman was just a baby at the time.

During that week, two of the most significant companies in the AI field went public. Microsoft’s IPO took place on March 13, 1986, followed by Oracle’s IPO a day earlier.

Interestingly, the IPO documents of these companies didn’t mention AI, machine learning, or large language models, nor did they discuss risks related to the availability of AI chips from Nvidia, a company that wouldn’t be founded for another seven years by Jensen Huang.

Fast forward to today, and the progress is staggering.

Microsoft has become a central figure in the AI narrative, reflected in its market valuation exceeding $3 trillion, making it the only public company to reach this milestone, with a significant lead over Apple by around $400 billion. Microsoft’s stock price is currently close to its all-time high.

Oracle, too, has made significant strides in cloud computing and AI. However, Wall Street has only recently started to fully recognize the strength of the company’s position.

I believe there is still considerable potential for investors to benefit from Oracle’s ongoing transformation, a transformation that Barron’s first spotlighted in a cover story three years ago.

Ulta Beauty’s full-year profit outlook fell below Wall Street estimates due to increased supply chain costs and heightened promotions, leading to a 4.5% drop in its shares during extended trading on Thursday.

Despite the beauty retailer’s efforts to stimulate sales through significant discounts, consumers cautious of inflation reduced spending on discretionary items like cosmetics and hair care products.

While the pressure from retail shrink, caused by inventory loss or damage from theft and breakage, has been mounting over recent years, it remains a persistent challenge for retailers, with many companies noting its impact on margins.

Ulta Beauty now anticipates its annual operating margin to range between 14.0% and 14.3%, down from the 15.0% reported in 2023.

The company forecasts annual adjusted earnings per share to fall between $26.20 and $27.00, with the mid-point below analysts’ average estimate of $27.00 per share, according to LSEG data.

Ulta Beauty expects fiscal 2024 revenue to range between $11.7 billion and $11.8 billion, mostly exceeding LSEG estimates of $11.69 billion.

For the fourth quarter ended Feb. 3, the beauty retailer reported a profit of $8.08 per share, surpassing expectations of $7.53. Quarterly revenue increased approximately 10% year-on-year to $3.6 billion, ahead of analysts’ expectations of $3.53 billion.

Shares of the Illinois-based company reached an intraday record high on Thursday before closing at $565.44. The stock has surged about 15% in 2024.

Adobe Inc. (NASDAQ:ADBE) has unveiled a fresh stock repurchase initiative sanctioned by its board of directors, permitting the company to repurchase up to $25 billion of its common stock by March 14, 2028. The objective is to enhance value for Adobe’s shareholders, counteract the dilution from stock issuances, and gradually reduce the overall share count.

This repurchase program will involve open market purchases and structured repurchase agreements with third parties.

Dan Durn, Adobe’s executive vice president, and CFO, emphasized Adobe’s robust financial position, stating, “Our new $25 billion share repurchase authorization underscores what a special company Adobe is, with the profitability and cash flows to drive growth and invest in innovation while returning significant capital to our shareholders.”

In conjunction with the repurchase plan, Adobe is scheduled to hold its first quarter fiscal year 2024 earnings conference call today at 2:00 p.m. Pacific Time. The webcast will be accessible from Adobe’s investor relations website, where relevant earnings documents are already available.

Additionally, Adobe intends to host an Investor Meeting on Tuesday, March 26, 2024, during the Adobe Summit in Las Vegas. The meeting will include discussions by Adobe executives on the company’s long-term market prospects, strategies, and innovation roadmap, with a focus on artificial intelligence.

This event will also be live-streamed on the Adobe Investor Relations Website, with a recording and materials accessible post-event.

The press release also includes forward-looking statements regarding Adobe’s stock repurchases and business outlook.

These statements are subject to risks, uncertainties, and assumptions, and actual outcomes could differ materially from those projected. The press release cautions about various risks that could affect Adobe’s business and financial performance.

This report is based on a press release statement and offers a factual summary of Adobe’s new stock repurchase plan and upcoming investor events without speculative or promotional content.

If you find yourself in Hollywood and witness a car cruising without a driver, there’s no need to panic. Following over a year of testing, approximately 50 driverless robotaxis are making their public debut in Los Angeles on Thursday.

Operated by Waymo, a subsidiary of Google’s parent company Alphabet, these autonomous vehicles began offering driverless rides to passengers in San Francisco last year and are also active in Phoenix.

Initially, these rides will be complimentary for individuals who have signed up on Waymo’s waitlist, which currently boasts 50,000 people. In the upcoming weeks, Waymo intends to transition to a paid service. The company’s service area covers 63 square miles of Los Angeles, spanning from Santa Monica to downtown.

The Southern California launch arrives amid controversies and mishaps affecting self-driving cars in San Francisco. Both Waymo and its competitor Cruise, a subsidiary of GM, have faced criticism for running red lights, obstructing public buses, and impeding emergency responders.

Cruise was involved in an incident in October resulting in severe pedestrian injuries, leading to the suspension of operations and the loss of its operating permit in the state.

In Los Angeles, Waymo has encountered challenges ahead of its debut. Complaints from Mayor Karen Bass and protests from local residents have emerged. In October, the Teamsters union staged a protest outside Google’s local office.

Union and labor leaders express concerns that robotaxis will lead to job losses and pose risks to workers driving emergency vehicles.

Yvonne Wheeler, president of the Los Angeles County Federation of Labor, remarked during the protest, “Autonomous vehicles, like the ones Waymo aims to introduce in our communities, have caused chaos wherever they’ve gone. It’s evident that this technology isn’t ready for implementation on our roads and in our cities.”

Both Cruise and Waymo argue that their vehicles are safer than human drivers and have experienced relatively few incidents. They claim to have logged millions of driverless miles without any human fatalities.

In December 2023, Globe Telecom’s 5G network witnessed significant growth, highlighting the increasing demand for high-speed connectivity.

Globe Telecom has been strategic in its approach, carefully investing in new 5G sites while considering market conditions and identifying use cases that can maximize the potential of 5G technology.

The company has expanded its 5G roaming partnerships to include 156 global partners across 82 destinations. This expansion includes partnerships in Africa, such as Nigeria with MTN, Mauritius with Cellplus, and an upcoming collaboration with Kenya through Africell.

In Asia, Globe has extended its reach to Kazakhstan and Laos through partnerships with Tele2 and LaoTel, respectively.

Internationally, Globe has established 5G roaming partnerships in Germany with Emnify and E-Plus Mobilfunk, Hong Kong through China Unicom, Korea via LG Uplus, Malaysia in partnership with Cellcom and YTL, Norway through Mobile Norway, Sweden with Tele2 and COM4, and Thailand via DTAC.

Additionally, international visitors in the Philippines can now experience 5G speeds through Globe’s collaborations with international networks such as Dialog in Sri Lanka, Orange in Egypt, and Manx Telecom in the Isle of Man.

Darius Delgado, Head of Globe’s Consumer Mobile Business, reiterated the company’s commitment to providing cutting-edge connectivity solutions to Filipinos, both locally and internationally. He emphasized Globe’s dedication to fostering strategic partnerships and continuous innovation to ensure that everyone can benefit fully from 5G technology.

Hilton has announced a deal to acquire the Graduate Hotel brand, which was founded by Ben Weprin of AJ Capital Partners in Nashville. The agreement involves Hilton paying $210 million for the rights to the Graduate brand, which includes 35 properties situated in college towns throughout the United States, including a hotel near Vanderbilt University.

As part of the agreement, Hilton will also oversee the future growth of the Graduate brand, while AJ Capital will retain ownership of the current Graduate Hotels. Each of these hotels will be operated under long-term Hilton franchise agreements.

Chris Nassetta, Hilton’s president and CEO, expressed his belief that the Graduate brand could potentially expand to include 400-500 hotels globally in the future.

“Adding Graduate Hotels to our portfolio of award-winning brands accelerates our expansion in the lifestyle space by pairing an existing much-loved brand with the power of Hilton’s strong commercial engine to drive growth,” Nassetta stated in a news release regarding the acquisition.

The FCC has increased the speeds necessary to qualify internet service as “broadband” for the first time since 2015. Following the agency’s annual high-speed internet assessment, it was determined that 100 Mbps downloads and 20 Mbps uploads will now be the new standard.

This development is likely to unsettle ISPs, who have been accustomed to referencing the previous standards of 25 Mbps/3 Mbps and persuading consumers that they are receiving high-speed broadband.

The FCC’s report highlighted several areas where the country’s online infrastructure is lacking. It concluded that broadband deployment is not progressing rapidly enough to adequately serve Americans, particularly those in rural and Tribal areas. The agency expressed concern, stating, “These gaps in deployment are not closing rapidly enough.”

Specifically, the report noted that fixed terrestrial broadband service (excluding satellite) has yet to be extended to approximately 24 million Americans, including about 28 percent of rural residents and over 23 percent of those residing on Tribal lands.

Regarding mobile services, it mentioned that approximately nine percent of Americans (including 36 percent in rural areas and over 20 percent on Tribal lands) lack sufficient 5G cellular speeds of at least 35 Mbps down / 3 Mbps up.

The report also established a long-term goal of broadband speeds reaching 1 Gbps down / 500 Mbps up “to provide stakeholders with a collective goal to strive towards.” These figures may indicate the direction in which the Commission aims to shift the benchmarks in future updates.

In 2015, when the commission established the 25 Mbps / 3 Mbps requirements, FCC Chair Jessica Rosenworcel remarked, “Frankly, it should be 100 Mbps”—a benchmark that the agency has now adopted, nine years later.

While the FCC cannot mandate ISPs to increase their speeds, this move represents a significant step it can take. The FCC can, however, prohibit ISPs from marketing their services as “broadband” if they fail to meet these standards.

It remains to be seen whether infrastructure providers will comply or resort to other marketing tactics to promote services with slow and outdated internet speeds.

Teledyne Technologies has announced its acquisition of Valeport Holdings Limited and its affiliates, expanding its portfolio in underwater sensor technology.

Established in 1969 and based in Totnes, United Kingdom, Valeport specializes in designing and manufacturing underwater sensors for environmental, energy, construction, and defense applications.

Valeport offers a variety of underwater sensors, including sound velocity probes, current and flow meters, as well as conductivity, temperature, and depth sensors. They also provide multi-parameter profilers capable of measuring turbidity and can include fluorometer sensors for detecting chlorophyll levels.

George Bobb, president and COO of Teledyne, expressed enthusiasm about Valeport joining Teledyne Marine, stating, “Through more than 20 acquisitions and ongoing collaboration, Teledyne Marine brings imaging, instruments, interconnects, acoustics, and complete subsea vehicle technology together to provide total solutions to our customers.”

Matt Quartley, managing director of Valeport, commented, “Our family is very proud of where we have brought Valeport so far, but the time is right for the next phase of its journey, and I am so pleased that this will be as a part of Teledyne Marine and excited about the prospect of working with the rest of the Teledyne group to bring our customers an even greater range of excellence.”

Jeff Bezos’ philanthropic fund is dedicating $60 million to enhancing alternative meats, aiming to improve their taste and reduce their cost.

Lauren Sánchez, Bezos’ fiancée and the vice chair of the Bezos Earth Fund, revealed the fund’s investment on Tuesday as part of a larger $1 billion commitment to revolutionizing the food industry.

The $60 million will be used to establish research centers focused on enhancing quality, nutrition, and cost-efficiency in the production of plant-based meats, as stated in a press release.

“There are also enormous opportunities to enhance the texture and boost flavor through innovation in cell biology and engineering,” the release noted.

In a video interview with Bloomberg, Andy Jarvis, the director of Future of Food at the fund, emphasized the importance of alternative meats in staying within planetary boundaries and feeding a growing population sustainably. He highlighted the need for these products to be more affordable and flavorful.

The Bezos Earth Fund, initiated in 2020 with a $10 billion commitment from Bezos, the world’s third-richest person, focuses on combating the climate crisis and preserving nature.

According to the United Nations Environment Programme, increased consumption of meat and dairy alternatives could significantly reduce climate-harming emissions, especially in high and middle-income countries.

Seven passengers from the Alaska Airlines flight, which had to make an emergency landing after a door-sized panel came off the plane, are suing the airline and Boeing, the aircraft’s manufacturer.

Cuong Tran, one of the plaintiffs, was seated in a window seat just behind the door plug that blew out, causing rapid depressurization in the cabin of the Boeing 737 Max 9 jet. His seatbelt saved him as air rushed out, ripping off a pair of socks and one shoe, and pulling away his iPhone.

These passengers, who suffered physical injuries and feared for their lives during the incident, according to their attorneys, are suing Alaska Airlines, Boeing, and its supplier Spirit Aerosystems.

The lawsuit was filed in Washington’s King County Superior Court. It is one of several lawsuits filed by passengers, including one representing 22 passengers, another brought by three Oregon passengers seeking $1 billion in damages, and a federal court case representing 33 passengers.

The US National Transportation Safety Board (NTSB) stated that four key bolts were missing from the door plug that blew out, and they are seeking more information on who worked on the plug. The head of Boeing’s 737 Max program was removed following the incident.

The January 5th incident led the Federal Aviation Administration to ground some Boeing 737 Max 9 planes as it investigates, and the US Justice Department has initiated a criminal investigation into the company.

WeightWatchers CEO Sima Sistani has issued an internal memo to employees in an effort to reassure them about the company’s financial stability. She emphasized that WeightWatchers’ new clinical business, focused on countering the threat of GLP-1 weight loss drugs, is growing more rapidly than anticipated.

The memo, which was obtained by CNBC, follows a significant decline in WW shares. The stock market value of the renowned weight loss company has dropped to under $150 million due to concerns regarding its debt levels and the growth prospects of its core weight loss business.

These concerns arise at a time when new blockbuster drugs like Novo Nordisk’s Ozempic and Wegovy, as well as Eli Lilly’s Zepbound, are gaining prominence.

In the memo, Sistani addressed the media coverage, stating, “I wanted to take a moment to address some of the breathless media coverage.”

Although shares stabilized later in the week following the news on Feb. 28, when Oprah Winfrey announced her intention to step down from the company’s board and donate all her shares to a museum’s endowment, they have since experienced significant selling pressure, hitting a new 52-week low on Thursday.

Over the past month, shares have fallen by 58 percent. The stock’s heightened volatility is attributed to its debt load, short interest, and general concerns about the impact of new weight loss drugs.

I-RES REIT, Ireland’s largest private landlord, has named Eddie Byrne, former Quintain executive, as its CEO Designate, succeeding Margaret Sweeney, who announced her retirement in October. Byrne will assume the role on April 8th and officially take over as CEO and Executive Director on May 1st, following Sweeney’s departure.

Sweeney has led IRES for six and a half years, during which time she and other senior management members faced a challenge from activist shareholders unhappy with the company’s performance.

The shareholders, led by Vision Capital, sought to replace directors and conduct a strategic review, including options like breaking up and selling the business. However, I-RES is now conducting its own strategic review, overseen by new chair Hugh Scott-Barrett, which Byrne will help implement.

Byrne expressed enthusiasm for joining I-RES at a time of significant change in the real estate sector. He looks forward to working with the board, led by Scott-Barrett, to explore opportunities for value creation as part of the strategic review, and collaborating with the I-RES team, partners, and stakeholders to realize these opportunities.

Before joining I-RES, Byrne was Joint Managing Partner at Quintain Developments, where he co-founded Irish operations that secured over 5,000 planning permissions, built and sold around 1,500 rental and private homes, and raised substantial growth capital.

He also served as managing director at Hudson Advisors Ireland, overseeing multibillion-euro real estate acquisitions and disposals.

Scott-Barrett praised Byrne’s extensive real estate experience, particularly in the Irish residential sector, highlighting his ability to build teams, engage with local authorities, raise capital, execute transactions, and develop strategic initiatives.

Byrne’s appointment is seen as a valuable addition as I-RES pursues its strategic review to maximize shareholder value.

A Nova Scotia Supreme Court judge has provided some temporary stability to a company that owns nearly two dozen newspapers in Atlantic Canada.

SaltWire Network sought credit protection after its main creditor, Fiera Private Debt, declared the media company unable to repay a $32 million loan, leaving SaltWire with debts exceeding $63 million.

Justice John Keith ruled that KSV Advisory, Fiera’s financial adviser, will oversee SaltWire’s restructuring. He rejected SaltWire’s request to appoint Grant Thornton as monitor, deeming it “unusual” to have competing applications in such cases.

Keith justified selecting KSV as a monitor, noting their six months of involvement compared to Thornton’s recent engagement. SaltWire’s lawyer, Maurice Chiasson, argued that KSV prioritizes Fiera’s economic interests, neglecting employees and the communities served by the newspapers.

Jennifer Stam, representing Fiera, reassured the court, the public, and SaltWire that Fiera did not intend to shut down the company or liquidate its assets.

Keith also mandated that Fiera provide SaltWire with $500,000 in interim financial aid to sustain operations for the next 10 days.

IHS Holding Limited (IHS) has announced robust financial results for both the fourth quarter and the full year of 2023, surpassing or meeting expectations in key metrics such as revenue, adjusted EBITDA, and adjusted levered free cash flow (ALFCF).

Despite the significant devaluation of the Nigerian naira, which has negatively affected the company’s performance, these achievements are noteworthy.

The company has emphasized its commitment to organic growth, particularly in Brazil, along with its initiatives to enhance operational efficiency and reduce capital expenditures. Furthermore, IHS Towers is exploring strategic options to enhance shareholder value.

Key Highlights

– IHS Towers achieved an 8% increase in revenue, a 10% increase in adjusted EBITDA, and a 19% increase in ALFCF in 2023.

– The company added 1,041 colocations and 4,929 lease amendments, with significant growth in Brazil.

– A contract extension and the addition of 3,950 new tenancies with Airtel in Nigeria were announced.

– The devaluation of the Nigerian naira, by 246% since January 2023, presents financial challenges.

– IHS Towers is focused on cash generation, reducing capital expenditures, and leveraging AI technology.

– Strategic alternatives are being evaluated to unlock shareholder value.

The Nigerian market, heavily reliant on mobile phones, is viewed as having strong growth potential. Revenue in Nigeria declined by 10% year-over-year to $321 million in Q4 2023, primarily due to naira devaluation. However, the Latin America segment saw a 24% revenue increase, with substantial infrastructure investments in the region.

Company Outlook

– IHS Towers expects revenue for 2024 to be between $1.7 billion and $1.73 billion, with adjusted EBITDA between $935 million and $955 million.

– Focus on enhancing returns and reducing reliance on diesel power is central to the company’s strategy.

– The company remains committed to supporting key customers like MTN Nigeria during economic challenges.

Bearish Highlights

– The ongoing devaluation of the Nigerian naira continues to impact the company’s financial performance.

– Revenue in Nigeria declined by 10% year-over-year in Q4 2023.

– The Sub-Saharan Africa segment also experienced a 6.3% revenue decrease.

Bullish Highlights

– Strong growth prospects are seen in the Latin America business, with significant investments in Brazil.

– Improved returns on invested capital were reported by IHS Towers.

– The company is optimistic about its business strength and growth potential in Nigeria and Latin America.

Misses

– IHS noted the potential impact of a further 10% devaluation in the naira, which could result in a $40-45 million revenue impact and a $20-25 million adjusted EBITDA impact.

The US Senate’s Homeland Security Committee passed a bill on Wednesday to bar contracts with Chinese biotech firms such as BGI Group, MGI, and Complete Genomics, as part of Washington’s broader efforts to limit Chinese companies in the medical field under the guise of national security.

Although the bill is far from becoming law, its aim is to prevent US federal agencies and the government from engaging with these Chinese companies.

US Senator Bill Hagerty claimed that firms like BGI and WuXi AppTec, which receive significant subsidies, are attempting to dominate the US biotech market while gathering sensitive medical data from millions of Americans for potentially harmful purposes.

BGI Group responded, expressing support for protecting Americans’ data but arguing that the bill’s attempt to drive them out of the US is unlikely to protect the data, as they do not have access to it.

The company criticized the bill for potentially limiting competition and consolidating market control in human genome sequencing by picking winners and losers through legislation.

WuXi AppTec disagreed with being labeled a “biotechnology company of concern” by the US Senate, stating that it does not pose a security threat to the US or any other country.

Meanwhile, Wuxi Biologics (Cayman) Inc. clarified that it is not a subsidiary of WuXi AppTec Co. and does not engage in human genomics or collect human genomic data in any of its businesses. The company emphasized that it poses no national security risk to the US or any other country.

Delta Air Lines CEO Ed Bastian’s aviation journey began at the age of 25, marking the start of a remarkable career that has earned him admiration as one of the Fortune 500’s most esteemed CEOs.

Over his 25-year tenure with Delta, Bastian has navigated the airline through various challenges, including the industry turbulence following the 9/11 attacks, widespread bankruptcies across airlines in 2005 resulting in significant job losses, and most recently, the pandemic, which decimated aviation jobs by 43%.

Despite these adversities, Delta emerged as the world’s most profitable airline, a testament to Bastian’s leadership. His achievements led to Delta being recognized as Fortune World’s Most Admired Company, with Bastian himself honored as Chief Executive magazine’s CEO of the year in 2023.

Bastian shared insights into Delta’s success at South by Southwest’s annual series of conferences, highlighting the company’s people-first approach. In 2005, Delta filed for bankruptcy alongside other major airlines, prompting layoffs and pay cuts.

However, this crisis catalyzed a shift towards a more employee-centric culture at Delta, exemplified by a profit-sharing model implemented in 2007.

Under this model, employees receive 15% of the company’s profits and are prioritized for payment over management. This approach not only provided financial security during lean times but also fostered a sense of ownership and loyalty among employees.

Delta reinstated the model after a brief pause in 2020, distributing $1.4 billion to employees this year, equivalent to over 10% of their annual salary.