Forbes Daily: Your Medicines from Amazon

good morning,

The memetic strain is, well, meme stockings againI read a story from my colleague Jonathan Ponciano about how Bed, Bath & Beyond’s stock soared by as much as 20% earlier this week, then collapsed, then surged again.

It could all be an ill-fated short squeeze for struggling retailers reportedly preparing to file for Chapter 11 bankruptcy. Despite appearances, institutional investors have doubled down on bearish bets on memetic stocks, including AMC, GameStop and others, warnings.

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breaking news

Several Secret documents reportedly found The Justice Department and FBI are actively investigating how the documents got there. (Photo: Michael M. Santiago/Getty Images).

Microsoft said earlier Wednesday it was investigating Massive outage across several countries As a result, thousands of users are locked out of services like Microsoft Teams, Outlook and Xbox Live.

Department of Justice and eight states Filed a civil antitrust lawsuit against Google On Tuesday, the tech giant claimed it “sabotaged legitimate competition” by buying an ad tech competitor.

business + finance

Amazon announced RxPass. New $5/month prescription drug service This allows US Prime members to fill as many prescriptions as they need from a list of over 50 generic drugs with free shipping. It marks the online retail giant’s latest step into healthcare.

In Elon Musk’s third day of testimony as part of a class-action lawsuit over an infamous 2018 tweet that suggested he might take Tesla private, the billionaire has the seriousness behind his words. He doubled down on what he characterizes as good intentions. “I thought I was doing the right thing” He said in San Francisco federal court.

Wealth + Entrepreneurship

A women-only network “Chief” is launched, in which only female vice presidents and above can participate. A new enterprise product that allows companies to sponsor their employees to join the elite crew. The offering essentially tracks membership screening for qualified women leaders quickly (a big perk for clubs with a waiting list of about 60,000), automatically burdens companies with bills, and We offer membership as a benefit to.

technology + innovation

Sen. Marco Rubio (R-Florida) Wants Answers later forbes The report reveals that JP Morgan, the country’s largest bank, has partnered with ByteDance despite national security concerns. He’s targeting CEO Jamie Dimon over a major bank developing payment technology for TikTok’s Chinese parent company. more: Senator Josh Hawley (R-Mo.) introduced a bill to ban TikTok in the US, tweeting that TikTok is “the Chinese backdoor into American life.”

Crown Estate, which manages the British royal family’s huge property portfolio, is suing Twitter, claiming that billionaire Elon Musk’s social media company has not paid rent for its London office space.this is Fourth allegation against Twitter Musk allegedly failed to pay his rent while trying to cut costs amid the company’s financial difficulties.

sports + entertainment

7-time Super Bowl winner Tom Brady declined to provide a definitive answer As for potential plans for the 2023 NFL season, the oddsmakers are in favor of a return to the Tampa Bay Buccaneers, or a move to the Las Vegas Raiders if the legendary quarterback returns at age 46.

daily cover story

John R. Tyson’s settlement with prosecutors kicks off what could be a difficult year for Tyson Foods

top line Shares of Tyson Foods, America’s largest meat company, have fallen since the November 6 arrest of 32-year-old CFO John R. Tyson. Back in the fall, the Fourth-Generation Scion was charged with public drunkenness and trespassing after a stranger found him passed out in her bed.

He then pleaded not guilty and the city of Fayetteville, Arkansas settled with John R. Tyson, who agreed to pay a fine of $150 per charge. Despite its decades-long reputation, prosecutors in the case argued the deal was “no better or worse” than those offered to other persons charged with misdemeanor charges. bottom.

And while the company’s share price has fallen, business at Tyson has continued almost as normal since its young heir was allegedly drunk and bed-hopping. The company weathered well, reaching $4.4 billion in operating profit in 2022, and John R. Tyson apologized to analysts and investors on its November earnings call.

However, like credit firm Moody’s Investors Service, it challenged the company’s governance in light of the issue and downgraded Tyson’s ESG credit impact score to “very negative.” Tyson Foods, on the other hand, claims that “a committee of independent directors of the company and Tyson’s Board of Directors has independently reviewed recent incidents,” and still has faith in young Tyson’s leadership.

why it matters The story illustrates the potential business impact and disruption that companies with deep family roots can experience when they keep relatives in leadership positions during scandals.

more More than just inflation: Bird flu pushes Thanksgiving turkey prices higher

facts and comments

US egg prices Achieving record prices in 2022, sold at more than double the median price of the previous year. This is largely due to the spread of bird flu, which has affected at least 58 million chickens.

59%: How much will egg prices rise in 2022?

40%: How much did egg producers’ profits increase last year, according to advocacy groups?

“collusion scheme”: The same advocacy groups argue that egg suppliers inflate prices to maximize profits.

strategy and success

Despite Elon Musk taking over Twitter in November to outright disdain remote work and ban the practice, the billionaire social media company closed its offices in Seattle and Singapore and told employees Instruct remote work. Apparently, his change of heart is primarily cost-motivated as the company seeks to scale back rent, cleaning services, etc. For other businesses and the labor market, what that means is: as follows. Like Musk, extreme remote work skeptics have changed their minds.

video

Here are my New Year’s resolutions, according to doctors:Tip: neither diet nor exercise

quiz

Superstar Justin Bieber is just sold the rights to his music to Hipgnosis Songs Capital in a $200 million deal, representing the company’s largest acquisition of music rights. Which artist got the rights to their song catalog last year for half that amount?

A. Selena Gomez

B. Katy Perry

C Justin Timberlake

D. Sam Smith

Please check if it arrived here.

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