Florida Gov. Ron DeSantis has signed a bill that aims to stop Disney's development deals. The decision is the latest step DeSantis has taken in his public dispute with the company. More: - The development deals are at the center of the latest battle in a yearlong dispute between Disney, one of Florida's largest employers and taxpayers, and DeSantis, who is likely preparing for a 2024 presidential campaign.
- The bill, which passed out of the state's Republican-majority Legislature just a day earlier, follows a vote by DeSantis' board members to invalidate the deals, claiming they were struck unlawfully.
- Disney says the contracts were crafted to help lock in its long-term development plans amid escalating tension with DeSantis and his allies.
- Members of both parties, including former President Donald Trump, have criticized DeSantis' fight with Disney.
Zoom Out: - This dispute began more than a year ago after Disney denounced a Republican-backed Florida bill limiting classroom discussion about sexual orientation and gender ideology, called "Don't Say Gay" by critics.
- Shortly after, DeSantis and his allies moved to dissolve the special tax district that had allowed Walt Disney World to essentially govern its own operations for more than 50 years.
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 Adidas expects to lose over $770M after cutting ties with Kanye West's brand Yeezy in 2022. The company does not intend to renew the partnership. More: - The German sportswear giant said that the loss was due to the adverse impact of the Yeezy deal being terminated.
- Adidas and West announced a partnership in 2013 to launch a new line of sneakers and clothing.
- The partnership proved to be a major success, as Yeezy became one of Adidas' most popular and profitable collaborations.
- However, Kanye West's controversial statements forced the company to terminate their partnership.
- Adidas' CFO, Harm Ohlmeyer, stated that the company's decision to end the Yeezy partnership would enable it to focus on its core brands.
- The Yeezy brand generated $1.3B in revenue in 2019, only four years after launching.
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European Central Bank officials are expressing support for ECB President Christine Lagarde's recent remarks regarding the possibility of more interest rate hikes. ECB is expected to hike rates at least twice more. More: - Some ECB policymakers reportedly believe that current inflation levels warrant more aggressive action, although others argue that economic conditions remain too fragile.
- Lagarde previously hinted that the ECB could raise rates as soon as next year, but this stance drew criticism from some analysts who believe that inflation levels are still not high enough to justify such a move.
- The ECB has been under increasing pressure to take a more hawkish approach to monetary policy as inflation levels across the eurozone have continued to rise in recent months.
- The central bank is expected to announce its latest policy decision at a meeting scheduled for next month, and analysts will be closely watching for any indications of a shift in policy.
- The ECB is also set to release its latest economic projections at the same meeting, which could shed further light on the central bank's thinking.
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Health insurance giant Cigna reported Q1 2023 revenue of $46.9B, beating analysts' estimates. Cigna has nearly 20 million medical customers in its health plans. More: - The company posted a net income of $1.3B, up from $1.2B for the same quarter last year.
- Cigna attributed its growth to the addition of 1.5 million new health plan customers, including those who signed up through the Affordable Care Act marketplace, and its acquisition of pharmacy benefit manager Express Scripts in 2018.
- The company also raised its full-year earnings forecast from $21 to $23 per share to $23.50 to $25 per share.
- Cigna CEO David Cordani said the company is seeing more growth opportunities in government-sponsored plans, which will be an area of focus for the company moving forward.
- However, Cordani cautioned that uncertainty around healthcare policy could still pose challenges to the industry.
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Liquido has raised a $26M funding round to expand its fintech platform in Latin America. The company has processed over $300M in payments during its beta testing phase. More: - Liquido offers fintech services for cross-border and local businesses in Latin American countries, helping them free new revenue and maximize their reach.
- The company claims that its platform can help the Latin American market transition to digital payments more efficiently, as the use of cash is still prevalent in the region.
- Index Ventures, Base Partners, Restive Ventures, Mantis VC, and UpHonest Capital led the funding round.
- Liquido aims to use the funding to invest in product development and market expansion.
- The company is based in Mountain View, California, and has an office in Brazil.
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A newly discovered threat group named SandroRat is targeting Italian corporate networks. The group is focused on the energy, military, and aerospace sectors. More: - The group deploys phishing attacks with malicious Word documents that execute a series of scripts designed to evade detection and ultimately deploy a backdoor dubbed SandroRat.
- SandroRat is a modular remote access trojan that is capable of malicious functions such as:
- capturing screenshots,
- exfiltrating data,
- and executing arbitrary code.
- The attackers are exploiting a recently disclosed Microsoft Exchange Server vulnerability to gain initial access to the target's network.
- Security researchers have recommended utilizing multi-factor authentication and regular security awareness training.
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Quick Hits: - The company behind these surgical robots is planning to list on Nasdaq. Last day to fund your investment is on 5/10.*
- Fintech startup Tarabut Gateway raised $32M to expand its 60% market coverage in the MENA region.
- Tesla has reportedly secured a large $227M order of parts for its upcoming Cybertruck electric pickup truck,
- Hackajob has raised a $25M Series B to help companies hire better for technical roles using machine learning. The company is based in London, U.K.
- Stellantis reported a 14% annual rise in first-quarter net revenues.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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