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Yankees receive $2.6 billion in deal with private equity fund
The Yankees may use the money to handle debt and pursue new ventures.
ATG Entertainment, Owner of 7 Broadway Theatres, Acquired by MARI
The group will control a global fleet of theatres including Broadway's Lyric, Hudson, Al Hirschfeld, and more.
Health education bill sent to Newsom’s desk after unanimous vote in Legislature
The Ready to Learn, Ready for Health Act proposes updated educational frameworks that include materials on preventive health measures.
Canva’s Former CFO Says AI Cannot Fix A Broken Business
More than half of CEOs report no measurable AI return. The CFO who scaled Canva from $10 million to $2 billion says the problem was never the model you picked.
Cardinal Health Reports Fourth Quarter and Fiscal Year 2026 Results and Provides Fiscal Year 2027 Guidance
Fourth quarter revenue increased 6% to $63.7 billion Fourth quarter GAAP1 diluted EPS increased 70% to $1.70 Excluding a one-time positive impact of $0.31 from...
The U.S. Healthcare System is Already Mostly Socialized
Now that Abdul El-Sayed is the Democratic nominee for Michigan’s open Senate seat, the outcome of this crucial race will depend mainly on two things: Whether Republicans succeed in demonizing El-Sayed because he’s brown and a Muslim, and whether they succeed in demonizing him as a left-wing radical. I will defer for the now the question of whether bigotry will be effective this year, although I will address it another day. What I want to address instead is El-Sayed’s signature issue — healthcare. Yes, El-Sayed advocates Medicare for All, a position the usual suspects denounce as “socialism.” I will get to the politics of his stance soon. Today, however, I want to talk about the substance. We should be clear that El-Sayed doesn’t even call himself a socialist. On the contrary, he explicitly disavows the label, saying “I’m a capitalist who just knows about capitalism”. In fact, as I explained in a previous post, the policies that El-Sayed advocates qualify him as a social democrat, not a socialist. Still, El-Sayed advocates a system under which the government would pay almost all medical expenses. Isn’t that socialism? Well, if that is the criterion then much of U.S. healthcare is already socialist. In fact, the government’s role is so large that U.S. healthcare is better described as partially privatized socialism than as anything resembling a free market. Let’s start with the raw numbers on health insurance, which pays the bulk of Americans’ medical expenses. Americans receive health insurance either from private companies or from public programs, overwhelmingly Medicare and Medicaid. Here’s what the breakdown of coverage and spending between private and public looked like in 2024: While a majority of Americans with health insurance get it from private companies, well over 100 million of us are covered by government programs instead. And these government programs pay more total dollars for medical bills than the private insurers do. Why do government programs that cover a minority of the population account for a majority of health insurers’ outlays? Mainly because Medicare covers seniors, and we’re expensive. Also, while Medicaid covers many younger Americans, disabled and elderly beneficiaries account for most of its spending. Even by the raw numbers, then, U.S. health insurance looks as much public as private. But that understates the government’s role: Private health insurance in the U.S. is both highly regulated and heavily subsidized. This is obviously true for the insurance coverage purchased by tens of millions of Americans through the exchanges established by the Affordable Care Act. But employment-based health insurance, which covers 161 million Americans, is far more of a government creation than most people realize. For employment-based insurance exists largely because of huge implicit government subsidies that come with major strings attached. Here’s how that works. If your employer pays you $10,000, that’s taxable income. But if your employer pays $10,000 toward a company health insurance plan that meets certain criteria, it isn’t taxable. That’s a huge effective subsidy, running at more than $300 billion a year. Take that subsidy into account, along with the more than $100 billion per year spent subsidizing policies purchased under the ACA, as well as the outlays on Medicare and Medicaid, and net effect is that the government pays for more than two-thirds of Americans’ health insurance. Granted, there are strings attached. Roughly speaking, employment-based health plans can’t discriminate based on medical history — that is, they can’t deny coverage to employees with pre-existing conditions — and they also can’t offer the plans only to highly compensated employees — a health plan that is only for the C-suite is considered taxable income. So given the restrictions of the federal tax code, employer-based health insurance is a lot like Obamacare, which also prohibits discrimination based on medical history and provides subsidies to make insurance affordable to lower-paid workers. The fact is that virtually all of private healthcare insurance is already well under some form of government control through regulation and tax subsidies. How should we think about this system? First of all, is Medicare socialist? Don’t tell anyone, but the way Medicare operates — it covers every senior’s medical expenses, whatever they turn out to be, while being funded by taxes that depend on one’s income — could be summarized by the old Marxist slogan “From each according to his ability, to each according to his need.” And back in 1961, when Ronald Reagan was the face of a last-ditch effort by the American Medical Association to block the creation of Medicare, he denounced Medicare as “socialized medicine” and warned that it would destroy our freedom. In reality, American freedom survived until Jan. 20, 2025, while Medicare is immensely popular, with an 82 percent favorable rating in the most recent KFF survey. Medicaid, government health insurance for lower-income Americans, comes in at 73 percent. This is in sharp contrast to public views about private insurers, who are widely disliked if not hated and accused of denying essential care. Furthermore, if Medicare is socialism, then the whole U.S. health insurance system, with the government paying most of the bills and placing conditions on private insurers, is almost equally socialist. If you insist on calling any program the government pays for and regulates socialist, then U.S. healthcare would best be described as a partially privatized form of socialism. And one must ask, what is the point of the part that is privatized? Do private insurers add anything positive? Or are they simply parasites, skimming off money that could have been paying for care? The case for viewing insurers as parasites is strong. Many Medicare benefits are now delivered via Medicare Advantage, that is, plans paid for by the government but run through insurance companies. MedPAC, an independent advisory commission, estimates that last year Medicare Advantage plans were overpaid by $84 billion, thanks to practices such as “upcoding,” in which patients’ health problems are overstated to get larger sums from Medicare. Assessing the waste from employer-based insurance is harder, but most evidence suggests that private insurers have substantially higher administrative costs than Medicare does. Furthermore, the complexity of private insurance, with multiple payers all trying to deny care when they can, is a huge burden both on providers — doctors, nurses, and hospitals — and on patients. What do private insurers offer to compensate for these costs? One must go through intellectual contortions to avoid the conclusion that they are, in fact, parasites. Which brings me back to El-Sayed. In supporting Medicare for All, he’s basically calling for an end to the partial, parasitic privatization of a healthcare system that is already hugely dependent on public funding. When one looks at it that way, it’s not at all a radical proposal. Admittedly, the political lift requires overcoming the opposition to higher taxes to pay for Medicare for All. Political realism rather than economics was the reason I and many other progressives supported Obamacare, with all its complexities, rather than demanding an immediate move to Medicare for All. But the political calculus may very well have shifted since the 2000s, as Americans are fed up with a system of unaffordable premiums, rampant claim denials, and byzantine claim administration. Moreover, funding healthcare insurance through taxation would allow for a much more progressive distribution of the cost. That is, compared to the present system, middle-income households would pay less as high-income households would pay more. And the U.S. would stop wasting large sums on pointless administrative costs. So let’s be clear: El-Sayed’s healthcare platform is perfectly reasonable on the merits of cost, fairness and health efficacy. And with private insurers never more hated, while millions of Americans are losing their health insurance, 2026 may be its time. MUSICAL CODA
Doral bets $738 million on its U.S. renewable energy business
The Israeli company will more than double its stake in Doral LLC to 53.2%, valuing the American subsidiary at about $4.1 billion in the latest transaction and potentially postponing plans for a separate IPO.
Bills may have uncovered another fifth-round draft gem
Rookie fifth-round pick Jalon Kilgore is making a strong push for a roster spot through his versatility and ball skills.
Patients Wary of Governments, Companies Pushing AI as a Rural Healthcare Solution
The $50 billion federal Rural Health Transformation Program is set to flood rural America with new AI health tools. That’s despite little evidence on whether health-related AI can improve access to care and patient health in those communities.
Laufey Reveals the One Thing She’s Still Terrified of Doing Onstage
"I'm so scared of freaking people out! I'm always thinking about it," she said.
ZZ Top Drummer Frank Beard Was Behind Show Cancellation
Billy Gibbons and Elwood Francis will continue The Big One tour with a fill-in for drummer Frank Beard.
Bills to address seating sightline concerns on a case-by-case basis
One of the larger concerns were seats with obstructed views, with several photos emerging on social media.
Cardinal Health Reports Fourth Quarter and Fiscal Year 2026 Results and Provides Fiscal Year 2027 Guidance
Fourth quarter revenue increased 6% to $63.7 billion Fourth quarter GAAP1 diluted EPS increased 70% to $1.70 Excluding a one-time positive impact of $0.31 from the recognition of the IEEPA tariff...
Sacramento top stories: Heat, coach mental health bill, Tahoe avalanche report
Here’s a quick look at the top stories from The Sacramento Bee for Monday, August 10, 2026.
Mayor throws weight behind delivery worker bill
The bill would eliminate the current contractor model and place the responsibility for worker safety.
After GOP stalls confirmation, Gov. Stein moves NC public safety chief to new job
This comes after lawmakers passed a bill adding a way for the Senate to thwart a Cabinet appointee.
Mamdani takes aim at Amazon subcontracting model in multimillion-dollar delivery bill fight
Mayor Zohran Mamdani publicly threw his support Monday behind legislation that aims to reshape New York City’s last-mile delivery industry, escalating a fight
DOGE said it saved $1.7 billion by terminating a military health IT contract. GAO found the contract was never terminated.
DOGE reported $1.76 billion in savings from terminating a contract, but GAO found that the contract was never terminated and no funds were deobligated.
Bills Are ‘Addressing Feedback’ After New Stadium Debut
Obstructed-view seats have become a focal point of the new facility.
Saber's newest game trailer takes a shot at Gearbox's CEO, if you look closely
The first hint that something might be up with the recent debut trailer for Saber Interactive’s Rideshare Stimulator is an unusual choice of words—aside from that second one in the game’s title. “Don’t take your passengers too seriously,” the trailer’s narrator says, as he describes this upcoming game. It a car game about the gig work of driving eccentric people to their destinations, a riff on Crazy Taxi. And then, he says: “When I think I’ve met the randiest of passengers, someone even stranger gets in.” “Randiest”? That suggests “randy,” which usually means having strong sexual desire. Yet none of the oddball backseat occupants featured in the trailer seem particularly lustful. One is an old man who considers his grandson a failure, another shares the theory that birds might control traffic lights, another says he’s banned from an aquarium. A little later, there’s a license plate, shown 63 seconds into the trailer, on the front of an SUV: USB DRV It’s a Texas plate. The symbol between those letters is a cog wheel. If you know, you know. That’s a reference to Texas-based Borderlands game development studio Gearbox Software (their logo features a cog wheel). More specifically, it’s a reference to Gearbox’s CEO Randy Pitchford, who in 2018 found himself explaining the nature of video he’d saved on a USB drive that was found at a Medieval Times restaurant before being returned to the studio: “It was ‘barely legal’ porn. This girl’s handle was ‘Only 18.’” The “girl” in the video had committed a solo sex act that Pitchford, an avid practitioner of magic, found remarkable. “I realized, this is not a sex worker…This is a fucking magician.” Back then, the USB drive was central to competing lawsuits against Gearbox by the studio’s former lawyer and by Gearbox against him. A settlement in late 2019 “exonerated” Pitchford, per the Hollywood Reporter. The USB story has resurfaced at times, now in a trailer from a company that not long ago was corporate brethren with Gearbox. Saber vs. Gearbox The head of Saber told Game File that the reference is payback. “The dig is because Randy took shots at Embracer in Borderlands 4,” Saber CEO Matt Karch told me when I asked him about the license plate. “Without Embracer, Randy is performing magic tricks at birthday parties for a living.” Having interviewed Karch during a cross-country flight in late 2024, I can confirm that Karch was unimpressed with Pitchford during their time both working in the Embracer group. I’d approached him not out of surprise that there was animosity but that it was manifesting publicly now. Gearbox was founded in 1999, worked on a port of Halo early on, and developed hit series such as the loot-based sci-fi shooter Borderlands before it was purchased by The Embracer Group in early 2021 for $363 million (with a possible earn-out of over $1 billion, if certain targets were hit by 2027). Saber was founded in 2001, worked on a remaster of Halo early on, had a big hit with zombie shooter World War Z and was purchased by Embracer in early 2020 for $150 million, with a potential earn-out of up to $375 million. For a few years, the Embracer group was a voracious acquirer of game studios. Then, as investment dried up, it choked. In March 2024, Embracer sold Saber to an investment company controlled by Saber CEO Matt Karch, and it sold Gearbox in an all-stock deal to long-time Borderlands publisher Take Two Interactive. Other studios were shut down. Hundreds of developers were laid off. Gearbox didn’t say much about their Embracer experience, nothing too direct, at least. In the summer 2024, Pitchford told reporter and occasional Game File contributor Nicole Carpenter that Borderlands 4’s story was in some way thematically connected to Gearbox’s experience at Embracer: “There’s this cultural and emotional shift in me, personally, and at the studio. What does it mean to trade some autonomy for organization?” When Borderlands 4 came out, there was something stranger: the matter of “Embracer’s Bluff,” a location in the game featuring an AI-powered toilet and a large trash dump, according to a detailed Kotaku account of the place. Gearbox never commented on it; Take Two never got back to me about it when I asked them last year. By contrast, since Saber exited Embracer, Karch has been one of Embracer’s biggest defenders, casting their management as well-meaning and supportive despite the layoffs and studio closures that resulted from their excessive expansion. Like others, Saber’s Karch saw Embracer’s as a shot. With Rideshare Stimulator’s trailer, he’s returned fire. “It’s amazing to me how fast people forget those who went above and beyond for them,” Karch told Game File. A rep for Gearbox did not comment by press time. Game File is a reader-supported publication. Your backing makes my reporting—including any coverage of trailer-based beefs—possible. Good news! I’m currently running Game File’s first big sale of 2026. You can get a one-year subscription for 23% off. Click here to take advantage of the limited-time offer. And thank you for your support! Item 2: In brief… 🚫 Wal-Mart has laid off the staff of Restart, a games media outlet launched in 2024, Aftermath reports. 🟥 A GTA VI preview is on the way, at last, via an “extended look” that will premiere, unusually, on Netflix at 3pm ET on August 27, then officially go live elsewhere six hours later. Last week, Game File noted that Take Two label Rockstar Games is overdue for showing off GTA VI, based on the timing of the initial hands-off previews of GTA V and Red Dead Redemption 2. During a call with investors, Take Two CEO Strauss Zelnick said pre-orders for GTA VI were “unprecedented and astonishing,” but added the company can’t predict how many of those pre-orders represent bonus sales vs. sales that otherwise would have been made at launch. During the same call, Zelnick was noticeably bullish on the future of playing games over streaming cloud connections (predicting wider adoption in three or so years). He sounded unbothered by Sony’s plans to stop making discs for new games (he said the business is 90% digital already and predicted that there could still be limited edition physical editions of games “in the same way there’s still vinyl in the recorded music business.”) 👀 Take Two wrote off $43 million in their spring quarter after deciding “not to proceed with further development of an unannounced title in its pipeline from a third-party developer.” 🤔 Some rare age-demographics from a big publisher: Capcom recently told investors that “users in their 20s account for approximately half of the users of both Pragamata and Resident Evil Requiem.” Item 3: The week ahead Tuesday, August 11 Game releases: The Elder Scrolls IV: Oblivion Remastered (Switch 2; already out for PC, PS5, Xbox) continues the Bethesda strategy of putting Elder Scrolls games on everything; Royalty Free-For-All is a Smash Bros.-style fighting game featuring public domain characters such as Mother Goose brawling with Oliver Twist in a stage based on the original Little Shop of Horrors movie. Wednesday, August 12 Game release: Pro Jank Footy (PC, console) is an arcade-style Australian Rules Football game with increasingly ridiculous rules, the more you play (I enjoyed the Steam demo) Thursday, August 13 Game release: Super Mario Sunshine (Switch 2, originally released in 2002 on the GameCube) is released for Switch 2’s Nintendo Switch Online service. This game is the black sheep of 3D Mario games. It’s the successor to the breakthrough Super Mario 64 and the rare Mario game built around a single (vacation resort) theme. Mario’s got a water-spraying backpack, a Yoshi pal and a lot of blue coins to collect.
Oregon lawmakers condemn reported attack against Sen. Janeen Sollman
Sen. Janeen Sollman was reportedly verbally and physically accosted by a man on Aug. 8, prompting bipartisan condemnation of political violence.
NIL bill advocates see goal line in sight after recess
After 16 wild hours that ended with a bipartisan college sports bill being punted in the middle of the night, President Donald Trump’s involvement was not enough to trigger votes on legislation he would like to add to his midterms and legacy sales pitches. As senators and senior aides bickered and postured all day and […]
Ted Cruz’s college sports bill left in limbo as U.S. Senate takes August recess
Sen. Ted Cruz’s bill to place new regulations on college sports failed to reach the floor this week, imperiling its chances to become law this year.
Scientists Release Biggest 2D Map of the Universe
Key Takeaways The DESI Legacy Imaging Surveys combined more than 263,000 telescope exposures to make the largest 2D map of the universe in visible and near-infrared light. Astronomers can pair the Legacy Surveys map with their own observations to explore our universe and search for rare phenomena. The 2D map serves as the foundation for the Dark Energy Spectroscopic Instrument survey to measure the universe in 3D and investigate dark energy. Hold on to your telescopes: the DESI Legacy Imaging Surveys team has released the largest-ever 2D color map of the universe. The 5.6-trillion-pixel map contains nearly 4 billion celestial objects, primarily stars and galaxies. The data is available for all to use and publicly viewable through the Legacy Survey Sky Viewer. Astronomers and citizen scientists can explore the map or combine it with their own observations to better understand our universe. Researchers can search for rare phenomena like gravitational lenses, observe fleeting events like supernovae, and investigate two of physics’ biggest mysteries: dark matter, the invisible substance that accounts for most of the mass in our universe, and dark energy, the force driving our universe’s accelerating expansion. The new map builds on earlier versions from the DESI Legacy Imaging Surveys that have already proved invaluable. To date, more than 1,800 science papers that reference the Legacy Surveys data have been published. “It’s part of the fabric of astronomy research now,” said David Schlegel, a co-lead of the Legacy Surveys and scientist at the Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab). “When you’re working with astronomical objects today, you often start by pulling up the Legacy Imaging Viewer to see what you’re looking at.” Covering roughly 75% of the sky in visible and near-infrared light, the updated map provides a deep view of the extragalactic universe not blocked by the dust and stars of our own Milky Way. Researchers expect it will remain the most comprehensive 2D map of our universe for years to come. More than 160 scientists contributed to data collection for the project, and a team of 20 produced the final dataset released today. It was built by combining 263,407 telescope exposures from three ground-based sky surveys: the Dark Energy Camera Legacy Survey (DECaLS) at NSF Cerro Tololo Inter-American Observatory, the Mayall z-band Legacy Survey (MzLS) at NSF Kitt Peak National Observatory, and the Beijing-Arizona Sky Survey (BASS) at the University of Arizona’s Steward Observatory. That was supplemented by years of data from NASA’s Wide-field Infrared Survey Explorer (WISE) satellite mission and additional public data. “For our team, these data are fundamental to our investigation of the expansion history of the universe and the formation of our galaxy,” said Arjun Dey, co-lead of the Legacy Surveys and an astronomer at NSF NOIRLab. “But the skies belong to everyone, and this survey gives everyone the chance to explore the sky and marvel at its wonders.” Here be galaxies The DESI Legacy Imaging Surveys were originally conducted to prepare for the Dark Energy Spectroscopic Instrument (DESI) survey. The Legacy Surveys’ 2D map is essentially a deep photograph of the sky; it records where galaxies and stars appear and how bright they appear. This crucial step enables DESI to select objects and measure their light in different wavelengths to determine their distances, building the largest high-resolution 3D map ever made. Scientists study the way galaxies have clustered at different ages of the universe to track dark energy over time. In April 2026, DESI completed its original five-year survey ahead of schedule and with vastly more objects than expected. The early results have shown surprising hints that dark energy’s impact may be weakening over time — a paradigm shift that could potentially shape the predicted fate of our universe. DESI expects to publish improved results using their first five years of data in 2027 and is continuing observations into 2028. DESI was so efficient at observing galaxies, the Legacy Surveys map needed to expand. Early on, “it became clear we might run out of galaxies to look at and run out of sky, and we better start doing something about that,” said Schlegel, who also works on DESI. The new Legacy Surveys map has been used to select DESI targets since June 2026 and will guide the telescope’s operations over the coming years. Computing the cosmos Merging hundreds of thousands of images taken on 2,285 nights, each with unique atmospheric and telescope conditions, was a massive computational effort. It took about a year to develop the computer code and eight weeks to process all the images at the Perlmutter supercomputer at the National Energy Research Scientific Computing Center (NERSC) at Berkeley Lab. Beyond supporting DESI, the Legacy Surveys will be a foundational reference for the next generation of telescopes. As new observatories like the NSF-DOE Vera C. Rubin Observatory (jointly funded by NSF and DOE’s Office of Science) and NASA’s Nancy Grace Roman Space Telescope come online, researchers can compare their observations with one of the deepest and most comprehensive views of the sky ever assembled. The Legacy Surveys data will also help scientists train artificial intelligence tools to analyze petabytes of astronomical data and accelerate new discoveries. It will be among the datasets used in an astrophysics pilot project within the American Science Cloud, part of the DOE’s Genesis Mission. The DESI Legacy Imaging Surveys are supported by the U.S. Department of Energy’s Office of High Energy Physics; the National Energy Research Scientific Computing Center, a DOE Office of Science user facility; the U.S. National Science Foundation, Division of Astronomical Sciences; and the partner institutions. DESI is supported by the DOE Office of Science and NERSC. Additional support for DESI is provided by the NSF; the Science and Technology Facilities Council of the United Kingdom; the Gordon and Betty Moore Foundation; the Heising-Simons Foundation; the French Alternative Energies and Atomic Energy Commission (CEA); the Secretariat of Science, Humanities, Technology and Innovation (SECIHTI) of Mexico; the Ministry of Science and Innovation of Spain; and by the DESI member institutions. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
The State of Politics: Questions for Wisconsin’s Next Governor
From a $2.36 billion surplus to child care, here are issues the nominees must answer for voters.
What the Senate did and didn’t get done in the final hours before recess
Before leaving Saturday, lawmakers confirmed President Trump’s attorney general pick and passed a spending bill.
AbCellera women’s health data top ‘most aggressive upside scenario,’ putting Astellas and Bayer on notice
AbCellera has reported phase 2 results “beyond even the most aggressive upside scenario” that its CEO dared to consider, boosting the biotech’s chances of challenging Astellas and Bayer for a women’s health market. The phase 2 clinical trial compared ABCL635, an antibody targeting NK3R, to placebo in patients with hot flashes caused by menopause. Investigators enrolled 92 postmenopausal women experiencing a mean of about 10 moderate or severe hot flashes per day. By Week 4, the number of moderate or severe hot flashes had fallen by a mean of 8.8 on ABCL635 and by 3.5 on placebo. That statistically significant, placebo-adjusted reduction of 5.3 hit the trial’s primary endpoint. The level of efficacy also cleared the bar set by existing drugs. While cross-trial comparisons can be misleading, AbCellera CEO Carl Hansen, Ph.D., had seen enough to start hyping the program. “We now view ABCL635 as a potential best-in-class non-hormonal therapy with strong differentiation against approved NK3R competitors across all important dimensions, including efficacy, safety, dosing and convenience,” Hansen said on a Monday morning conference call with investors to discuss the data. “We believe ABCL635 is now a highly de-risked program.” Last week, Hansen used AbCellera’s earnings call to set expectations for readout, with the CEO defining success as a clean safety profile and efficacy comparable to the two approved small molecules. The data vaulted over that bar. Astellas linked (PDF) one of the small molecules, Veozah, to placebo-adjusted reductions in hot flash frequency of 2.1 and 2.6 at Week 4 of its two phase 3 trials. Bayer reported (PDF) placebo-adjusted reductions of 3.04 and 3.29 at Week 4 of pivotal studies for its small molecule, Lynkuet. At 5.3, the placebo-adjusted reduction in AbCellera’s trial comfortably cleared the standard set by the incumbents. Veozah and Lynkuet came to market based on evidence of their ability to reduce the frequency and severity of hot flashes. AbCellera’s phase 2 study covered both endpoints, with the Canadian biotech reporting a mean reduction in severity of 1.4 points at Week 4 on ABCL635, compared to 0.3 points for placebo. Again, the placebo-adjusted result compares favorably to data on Veozah and Lynkuet. Analysts shared Hansen’s enthusiasm for the data. The phase 2 results “firmly validate ABCL635 as a potentially best-in-class treatment,” BMO Capital Markets analysts said in a note to investors Monday. ABCL635’s apparent efficacy edge “is likely attributable to the higher dosing/target engagement the asset is able to reach vs. the oral agents due to its wider therapeutic index,” the analysts added. The analysts, who model $2.3 billion in unadjusted peak sales for ABCL635, flagged the safety profile as another positive of the phase 2 readout. While Veozah carries a boxed warning for liver damage, nobody on ABCL635 in the phase 2 trial had elevated liver enzymes or bilirubin values. If replicated in phase 3, the lack of a liver signal could allow approval without the monitoring requirements imposed on Veozah. Investors appeared equally enthused, sending AbCellera's stock up 32% to $9.21 in premarket trading Monday from a Friday closing price of $6.93. Next, AbCellera will collect the Week 12 data and talk to its advisors about further development. The results open up “a wide variety of possibilities of how we might take this forward into phase 3 studies to truly maximize the value of the asset and make sure that ABCL635 is able to demonstrate its differentiation potential,” Sarah Noonberg, M.D., Ph.D., AbCellera’s chief medical officer, told investors.
Political Identity Now Drives Billions In Consumer Funding
Wearables, wallets and scanners show political and lifestyle identity now drives billions in venture funding across a 2x2 consumer market map.
Designing Direct-to-Government Assistance: Three Case Studies in Global Health Financing
In September 2025, the US State Department released the America First Global Health Strategy, announcing a major shift in how the United States programs foreign assistance in one of its largest sectors, representing over $13 billion in FY 2024. Global health dollars, the strategy states, will now flow primarily to foreign governments, not to nongovernmental organizations (NGOs), as has been the case in recent decades. The Department has sought to advance this strategy by signing non-binding, multi-year memoranda of understanding (MOUs) with dozens of its largest aid recipients. While officials acknowledge that there will be real challenges to providing direct assistance in the near term, the explicit goal of these MOUs is to transition from donor-driven systems to partner government-led implementation.
Scientists Release Biggest 2D Map of the Universe - The new DESI Legacy Imaging Surveys map serves as the foundation for the largest-ever 3D map of the Universe, used to investigate dark energy
The newest DESI Legacy Imaging Surveys map, 13 years in the making, covers three-quarters of the sky and catalogs nearly four billion objects. This treasure trove is available to all and contains stars, galaxies, supernovae, gravitational lenses, and much more. Two NSF NOIRLab facilities contributed data to the map: the U.S. National Science Foundation (NSF) Mayall telescope and the NSF Blanco telescope, equipped with the U.S. Department of Energy-fabricated DECam.
Gates Foundation to give historic $540 million to UW health institute
The Gates Foundation is donating over half a billion dollars to UW's Institute of Health Metrics and Evaluation, whose research informs policies around the world.
Trump Family Business Empire Faces Fresh Scrutiny as Republicans Join Calls for Answers
President Donald Trump’s family businesses are facing renewed scrutiny over billions of dollars in earnings, a paid service offering faster access to his social media posts and financial transactions ...
Bills coach Joe Brady enjoys father-son moment before team holds first practice
Brady emerged from the tunnel holding his 3-year-old son Jordan in his arm while enjoying a walk around the sideline.
Vulnerable battleground Dem embraces 'no tax on tips' after voting against Trump bill
Gabriel Vasquez voted against the big beautiful bill's no tax on tips provision, then called for a permanent version through his TIPS Act weeks later.
Trump’s foreign licensing business booms to $59.5 million as Gulf developers pay
Nearly two-thirds of Trump’s foreign licensing fees came from two Gulf developers, in the UAE and Qatar, including one pursuing a $20 billion U.S. expansion.
iPhone 18 Pro Costing Apple 38% More to Make, TrendForce Estimates
Apple's iPhone 18 Pro will cost nearly 40 percent more to build than its predecessor because of soaring memory prices, according to new data analyzed TrendForce. The research firm's latest smartphone analysis puts the bill of materials for the 256GB iPhone 18 Pro roughly 38 percent above the equivalent iPhone 17 Pro, and says higher retail prices will be unavoidable as a result.
Wisconsin health providers worry new Medicaid work requirement hurts doctor-patient relationship
The new rule, which was included in Republicans' "One Big Beautiful Bill Act" last year, provides exemptions for a number of groups, including people who are pregnant, have children under age 19 who live with them and people with a recognized disability.
UK employment market shows ‘rays of light’ for jobseekers with upturn in pay, study shows
Temporary vacancies rise for first time in two years, permanent job placements stabilise and temporary billings rise further
Kylo Peptides Expands Research Catalog to 36 Compounds as Peptide Science Enters a Record Growth Cycle
US research-peptide supplier scales its catalog against a market that analysts value between $47 billion and $141 billion, as peptides hold near 10% of new FDA drug approvals and GLP-1 use among American adults doubles in 18 months.Sheridan, Wyoming, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Kylo Peptides, a US supplier of research-grade peptides, has expanded its catalog to around 36 peptides and research blends, the company announced today. The milestone lands during the most active growth period in t
Risk of patient safety 'bonfire' with Health Bill changes, Lib Dems say
The party says the government's plans to modernise the NHS risk another major hospital scandal.
Laneway Festival to Skip Adelaide and Perth for 2027 Return
"Adelaide and Perth, we love you! This isn't goodbye, just see you soon," the festival organizer's statement read.
Clementine Douglas Announces Debut Australian Headline Shows
Earlier this year, Douglas made her Madison Square Garden debut alongside Dom Dolla.
Vietnam proposes 30% income tax cut for small firms, business households
Vietnam's government plans to seek parliamentary approval for a 30% cut in income taxes for small businesses and household businesses with annual revenue of up to 10 billion dong ($380,000), as part of efforts to support growth, the government said over the weekend.
‘Lord of the Rings’ stars reunite 23 years later, tease ‘more to come’
One dinner to unite them all: The Hobbits of Middle-earth are back together for a surprise ‘Lord of the Rings’ reunion, with ‘more to come.’ Sean Astin, Dominic Monaghan, Elijah Wood, and Billy Boyd share photos.
Vice President Vance says migrant communities show 'clear pattern' in federal fraud as investigations widen
JD Vance reveals $230 billion in fraud uncovered since Trump took office and explains why recouping stolen federal funds remains a major challenge.
Farm Bill falls to advance in McConnell’s absence
Sen. Mitch McConnell, R-Ky., who has been away from the Senate since a fall in mid-June, has cast some votes "by proxy."
Bruce Willis' wife backs California bill to track rare brain disease
Emma Heming Willis, wife of actor Bruce Willis, visited the California State Capitol this week to advocate for legislation that would add frontotemporal dementia (FTD) to the state’s neurodegenerative disease registry.
Ted Cruz’s college sports bill left in limbo as U.S. Senate takes August recess
U.S. Sen. Ted Cruz’s bill that would place sweeping new regulations on college sports failed to reach the floor this week before the Senate gaveled out for recess, imperiling its chances to become law this year as the midterm elections approach.
Bills news: Recapping Return of the Blue & Red
In the first public event at the new stadium, the secondary made big plays and Josh Allen rebounded from a poor start.
Problem in America? Sports betting, marijuana use soars
In 2025, Americans spent $166 billion betting on sports, and 21.4 million people used marijuana on a near-daily basis.
Problem in America? Sports betting, marijuana use soars
In 2025, Americans spent $166 billion betting on sports, and 21.4 million people used marijuana on a near-daily basis.
Medicaid Cuts Could Kill Safety-Net Health Centers
Federally qualified health centers are an essential source of medical care for poor and working-class Americans, especially in rural areas and neighborhoods of color. Medicaid cuts in Donald Trump’s Big Beautiful Bill could shut them down.
Trump’s Patriot Games are billed as a youth sports contest. They’re also a test of patriotic branding
The premise sounds almost fictional: one boy and one girl from every state, territory and some tribal nations, flown to a private campus in Ohio to compete in a televised athletic contest called the Patriot Games — a Trump-backed youth competition with obstacle courses, patriotic testimonials and inevitable comparisons to The Hunger Games.
Trump’s Patriot Games are billed as a youth sports contest. They’re also a test of patriotic branding
The premise sounds almost fictional: one boy and one girl from every state, territory and some tribal nations, flown to a private campus in Ohio to compete in a televised athletic contest called the Patriot Games — a Trump-backed youth competition with obstacle courses, patriotic testimonials and inevitable comparisons to The Hunger Games.
Watchdog for $46 billion tribal gambling industry can't enforce the law without a chairperson
The Iowa Tribe of Oklahoma opened its new Harrah’s-branded casino in April.
Ty Johnson, Connor McGovern leave practice with injuries
| WGR Sports Radio Buffalo
Community raises money to help Detroit activist Minister Malik Shabazz with medical bills
Selling the Dream of SpaceX Was the Easy Part. Now Elon Musk Has to Hang On.
SpaceX’s $300 billion swing in market value this past week put Musk back in grind mode, having to execute on highflying promises made in the lead-up to the biggest IPO ever.
PENN Entertainment (NASDAQ:PENN) Releases Earnings Results, Beats Expectations By $0.07 EPS
PENN Entertainment (NASDAQ:PENN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year.
Senate Bows to Reality, Leaving Trump’s Voting Bill Undone
The summer exit confirmed what had been apparent for weeks: that Republicans lacked the votes to pass the voting restrictions the president has made a top priority.
2027 Pro Football Hall of Fame predictions, including Bill Belichick
Who might make the Pro Football Hall of Fame next year?
Warren Buffett is out, and Berkshire Hathaway is spending again
Berkshire Hathaway's famously large pile of cash shrank by about $30 billion last quarter after Greg Abel took over from Warren Buffett as CEO.
The Senate eked out a summer break. But bigger fights are coming
The Senate went out with a bang, ‒ passing a government funding bill, confirming Todd Blanche and bucking a voter ID measure.
How AI-Powered Business Email Compromise Scams Are Stealing Billions
Business Email Compromise scams cost companies billions. Criminals are use AI, deepfakes and voice cloning to commit fraud. Learn how businesses can protect themselves.
Senate adjourns without vote on college sports bill
The U.S. Senate took no action on the Protect College Sports Act, adjourning for summer recess early Saturday with a promise the Senate will consider the bill next month.
Senate vote on college sports bill slated for September
The Protect College Sports Act failed to reach a vote during an all-night, pre-recess session in the Senate, though the bill did gain a spot on next month's calendar after the chamber comes back from its summer break.
College sports bill doesn't get vote, but does get spot on the Senate's September calendar
The Protect College Sports Act failed to reach a vote during an all-night, pre-recess session in the Senate, though the bill did gain a spot on next month’s calendar after the chamber comes back...
Fintech That Soared on Trump Sells Core Business for $12 Million
A virtually unknown fintech that catapulted into the headlines and cracked a $1 billion market value after signing a deal with the Trump family’s crypto platform last year has sold its core business for about $12 million.
Blanche ‘honored’ after Senate confirms him as attorney general in narrow vote
Donald Trump’s former defense lawyer confirmed by 50 votes to 49 early on Saturday morning, with senators deferring action on president’s voting bill until after recess
NFL Exec Thinks Bills Could Explore Blockbuster $27 Million Trade
The Buffalo Bills put together a strong all-around NFL offseason. Heading into the 2026 NFL season, they are once again viewed as a team who could make a run all the way to the Super Bowl. Over the last few years, Josh Allen and company have had those same expectations. However, they have come up […] The post NFL Exec Thinks Bills Could Explore Blockbuster $27 Million Trade appeared first on HEAVY.
The 5 daughters of Africa’s richest men: Inside the corporate power and business of the Dangote and Rupert heiresses
Across Africa’s most influential billionaire dynasties, a new generation of women is stepping into major business roles
She Is Russia’s Richest Woman. Her Business Empire Is Going Up in Flames.
As Ukraine repeatedly strikes warehouses of the e-commerce site Wildberries, Tatyana Kim, its billionaire co-founder, faces her biggest test yet.
Man living inside 'The Last House' billboard in daring Netflix stunt
With Hollywood billboards everywhere you look, Angelenos know it takes a lot for an advertisement to leave an impression, and so Netflix got to work.
Bills heading back to Orchard Park to open new stadium
The Bills closed out this part of training camp at St. John Fisher University outside Rochester and packed up for home base back in Buffalo.
Judge orders Meta to pay hundreds of millions over kids’ mental health
Meta says it will appeal the order by a New Mexico judge that said the social media giant has to pay close to one billion dollars to address how its apps have contributed to harm to children. NBC News’ Brian Cheung reports.
Ted Cruz’s college sports bill on brink of U.S. Senate vote
The Protect College Sports Act gained a burst of momentum with last week’s support from the SEC and Big Ten, but the clocking is ticking as the Senate prepares to leave town.
Trump urges GOP to keep Senate in session until college sports bill passes
President Trump on Friday ramped up the pressure on Senate Republicans to cancel part of their August recess, urging embattled GOP senators to stay in Washington until they pass a bill to reform ru…
Fault lines for both parties emerge after Michigan’s primaries: From the Politics Desk
Plus, Bill Cassidy provides crucial support for Todd Blanche.
How will ruling affect Meta’s business practices in New Mexico?
NEW MEXICO (KRQE) – Meta is being forced to pay and change the way it does business. A New Mexico judge ordered the social media giant to pay more than half a billion dollars and make changes to ho…
Wall Streeters slam Mamdani’s new ‘Business Advisory Council’ — calling it ‘phony,’ ‘waste of time’
After going to war with the city's billionaires, the mayor is quietly recruiting Wall Street heavyweights for a new kitchen cabinet.
College sports bill holding up Senate’s path to August recess
Senate Republicans say getting consent to move forward on the Protect College Sports Act, a bipartisan bill to set rules for compensating and recruiting college athletes, is holding up a broader de…
In the decade since rate cuts began, NH business tax revenues grew by an inflation-adjusted $3 billion - THE JOSIAH BARTLETT CENTER FOR PUBLIC POLICY
In 2015, the year New Hampshire legislators began a series of business tax cuts, revenues from the state’s two primary business taxes were a combined $561.7 million. In the decade since, business tax revenues grew by more than $3 billion. From 2016-2025, the state collected $3.02 billion in new business tax revenue above the 2015 […]
Sen. Bill Cassidy rebukes Katie Couric for 'demeaning' Trump health nominee in fiery exchange
Exclusive | Trump Administration to Award $2 Billion to Battery, Materials Companies
The deals add to a Pentagon funding spree to reduce U.S. dependence on China.
Senate passes sweeping Russia sanctions bill negotiated by the late Sen. Lindsey Graham
The bipartisan legislation, which passed the Senate 86-11, would penalize countries that continue to buy Russian oil, gas and other exports seeking to deprive Putin of revenues fueling the war.
Senate passes sweeping Russia sanctions bill negotiated by late Sen. Graham
It's the result of a four-year-long campaign to reinforce support for Ukraine
Senate passes sweeping Russia sanctions bill negotiated by late Sen. Graham
It's the result of a four-year-long campaign to reinforce support for Ukraine
Senate passes sanctions bill on Russia and Iran named for late Sen. Lindsey Graham
The legislation is part of a deal reached by senators aimed at helping Ukraine by cutting off funds for “Putin’s war machine.”
Senate passes Russia sanctions bill named in honor of the late Sen. Lindsey Graham
The Senate on Friday passed a major Russia sanctions bill, named for the late Sen. Lindsey Graham, who played a key role in the painstaking negotiations over the legislation that lasted over a year.
These 'five pillars' for living healthier longer are easy and affordable
Longevity has become a bit of a buzz word, and has become increasingly aligned with the tech industry. But while it remains unclear whether the billions of US dollars being invested in life-extending bioscience is something any of us can access, a timely report from Harvard Medical School reminds us what we can do on our own – and it's backed by a huge body of evidence.
A pardoned Capitol riot defendant wants her restitution money back. The Justice Department wants to keep it
After the protracted demise of the $1.776 billion fund meant to pay perceived victims of government lawfare, prosecutors say they don’t have to give a now-pardoned January 6, 2021, defendant her restitution money back.
Brandon Beane Addresses Potential Von Miller Return to Bills
Brandon Beane addressed speculation about a potential reunion with Von Miller after the former Bills pass rusher fueled discussion on social media.
Dilworth business owner helps police identify suspect in random assault on woman
“It’s very disturbing,” said Paper Skyscraper owner Bill Godwin.
Von Miller stirs Bills return rumors: 'Unfinished business'
The Bills defense can use all the help it can get. Von Miller is seemingly hinting about a return to the Bills with the Super Bowl contenders desperate for help along the defensive line. Miller,...
Blackstone's AGS Health files updated draft papers for $500 million India IPO
Blackstone-owned AGS Health on Friday filed updated draft papers for a 48-billion-rupee ($504 million) initial public offering in India, nearly two months after securing the markets regulator's approval for a listing.
Science Wins A Skirmish
Thank heaven for small favors: Senators on the Appropriations Committee on Sunday released a stopgap funding bill to avert a government shutdown by Oct. 1 and temporarily block a White House proposal that would fundamentally change how the federal government awards and manages grants. In late May, the Office of Management and Budget released … Continue reading "Science Wins A Skirmish"
Business Restructuring Review Vol. 25 No. 4 July-August 2026
In This Issue New York Bankruptcy Court: Premature Allegations of Creditor Mistreatment Insufficient to Deny Chapter 15 Recognition of Foreign Restructuring Proceeding In In re ARD Finance, S.A., No. 25-12794 (MG), 2026 WL 817458 (Bankr. S.D.N.Y. Mar. 25, 2026), the U.S. Bankruptcy Court for the Southern District of New York was presented with a petition seeking chapter 15 recognition of Luxembourg's recently enacted bankruptcy law governing judicial reorganization proceedings. The court granted the petition, turning aside challenges to recognition voiced by a creditor group arguing that recognition should be denied based upon allegations of unfairness to creditors in the Luxembourg proceeding that would make recognition manifestly contrary to U.S. public policy. According to the bankruptcy court, recognition was warranted because: (i) the rules and procedures governing the proceeding under Luxembourg law were fundamentally fair; (ii) the petition otherwise satisfied chapter 15's recognition requirements; and (iii) the creditor group's allegations were premature, given the fact that the Luxembourg court presiding over the debtor's restructuring proceeding had not confirmed a restructuring plan, and all creditors had the right to participate fully and voice their objections in the proceeding (including the right to appeal an order approving a plan). [read more …] Florida Bankruptcy Court Examines Scope of Discovery in Chapter 15 Cases In In re Banco Master, S.A., No. 25-24568-SMG, 2026 WL 931729 (Bankr. S.D. Fla. Apr. 6, 2026), the U.S. Bankruptcy Court for the Southern District of Florida granted in part and denied in part post-recognition motions filed by an insider of a foreign debtor seeking to bar or limit discovery sought by the debtor's foreign representative concerning allegedly voidable transfers involving the debtors' U.S. real property. According to the court: (i) although chapter 15 includes its own discovery provisions among the relief that may be granted to a foreign representative, the expansive discovery available in cases under other chapters of the Bankruptcy Code is also available in chapter 15 cases; (ii) the discovery sought by the foreign representative was permissible; (iii) discovery regarding matters that were the subject of a pending adversary proceeding had to be undertaken under the more restrictive rules applicable to such proceedings; and (iv) a discovery request would be barred to the extent that it sought production of documents or testimony from a subpoenaed entity that exceeded the geographic limitations specified in such rules. [read more …] Delaware District Court Affirms Chapter 15 Recognition Order Enforcing Nonconsensual Third-Party Releases In U.S. Int'l Dev. Fin. Corp. v. Credito Real S.A.B. de C.V. SOFOM, E.N.R. (In re Credito Real S.A.B. de C.V. SOFOM, E.N.R.), 677 B.R. 192 (D. Del. 2026), appeal filed, No. 26-2356 (3d Cir. June 5, 2026), the U.S. District Court for the District of Delaware affirmed a bankruptcy court order granting chapter 15 recognition to a Mexican "concurso mercantile" proceeding and enforcing nonconsensual third-party releases approved by the Mexican court. Agreeing with the bankruptcy court that the releases were not manifestly contrary to U.S. public policy, the district court concluded: "It is well settled that U.S. bankruptcy courts can give effect to foreign orders in recognized foreign proceedings pursuant to the authority granted in Chapter 15, even when those orders contain relief unavailable under U.S. law. [The appellant's] arguments misconstrue the Supreme Court's narrow holding in Purdue, applicable in Chapter 11 cases, as well as the statutory framework of Chapter 15 and its core policy objectives. Accordingly, I will affirm the Enforcement Order." The ruling has been appealed to the U.S. Court of Appeals for the Third Circuit. [read more …] Fifth Circuit: Bankruptcy Court, Not State Court, Had Jurisdiction to Allow or Disallow Administrative Expense Claim In Storey Minerals Ltd. v. EP Energy E&P Co., LP (Matter of EP Energy E&P Co., LP), 169 F.4th 609 (5th Cir. 2026), the U.S. Court of Appeals for the Fifth Circuit affirmed lower courts' rulings disallowing a creditor's administrative expense claim. It also rejected the creditor's argument that, because the claims were predicated on state law, a state court should adjudicate the merits of the state law causes of action before the bankruptcy court could allow or disallow the claim as an administrative expense. According to the Fifth Circuit, even though the causes of action were based on state law, the bankruptcy court had jurisdiction to determine whether the creditor's claims should be conferred with administrative expense priority in the debtors' chapter 11 case. [read more …] New York Bankruptcy Court: Dismissal of Involuntary Chapter 11 Case Filed Prior to Commencement of Foreign Restructuring Proceeding Unwarranted In In re Xinyuan Real Estate Co. Ltd., No. 25-10745 (PB), 2026 WL 592250 (Bankr. S.D.N.Y. Mar. 3. 2026), the U.S. Bankruptcy Court for the Southern District of New York considered the bona fides of an involuntary chapter 11 petition filed by certain holders of U.S. dollar-denominated notes against a holding company for a group of Chinese property development companies that filed a restructuring proceeding in the Cayman Islands after the noteholders filed the involuntary chapter 11 petition. The court denied the debtor's motion to dismiss the chapter 11 case. Given the timing of the filing of the Cayman Islands restructuring proceeding, the absence of any progress in the proceeding for seven months, the debtor's need to restructure notes governed by U.S. law, and the debtor's lack of any meaningful contacts to the Cayman Islands, dismissal of the chapter 11 case was unwarranted under the applicable provision of the Bankruptcy Code, international comity, or the doctrine of forum non conveniens. [read more …] Bankruptcy Court Evaluates Trustee's Authority to Sell Avoidance Actions and Right of Target Defendants to Object In In re Law Enf't Officers Sec. Union, No. 24-70277-JAD, 2026 WL 560452 (Bankr. W.D. Pa. Feb. 27, 2026), a chapter 7 trustee sought court approval to sell certain avoidance actions to a creditor of the debtor's estate. Potential targets of the subject avoidance actions objected, arguing that such claims were nontransferable powers of the trustee rather than saleable estate property and urging the court to approve their competing settlement with the trustee. The U.S. Bankruptcy Court for the Western District of Pennsylvania disagreed with the potential defendants, holding that they lacked standing to object to the proposed sale, that avoidance actions are indeed estate property, and that the sale—rather than the settlement—best served the estate's interests. [read more …] U.S. Supreme Court Bankruptcy Roundup in Brief In Keathley v. Buddy Ayers Construction Inc., No. 25-6, 2026 WL 1686028 (U.S. June 11, 2026), the U.S. Supreme Court overturned a Fifth Circuit decision judicially estopping a chapter 13 debtor from asserting a personal injury claim against a construction company because the debtor failed to disclose the claim during his bankruptcy case. In so ruling, the Court held that "[t]he Fifth Circuit erred by artificially narrowing its inquiry to whether the debtor had knowledge of the underlying facts or a potential motive to conceal the claim." It represents the first time that the Court has applied judicial estoppel in the bankruptcy context, although it has suggested in other contexts that it may be inappropriate where an inconsistent legal position resulted from "inadvertence or mistake." Also in June, the Court denied petitions for certiorari in a few notable bankruptcy cases. [read more …] Newsworthy Heather Lennox (Cleveland/New York) (Star Individual), Bruce Bennett (Los Angeles) (Senior Statesperson), Kevyn D. Orr (Washington) (Eminent Practitioner), Gregory M. Gordon (Dallas) (Band 1), Carl E. Black (Cleveland), Corinne Ball (New York) (Senior Statesperson), Brad B. Erens (Chicago), Jeffrey B. Ellman (Atlanta), T. Daniel Reynolds (Cleveland), and Dan T. Moss (Washington/New York) were recognized as leading lawyers in the practice area Bankruptcy/Restructuring in the 2026 edition of Chambers USA: The World's Leading Lawyers for Business. The 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers ranked the following lawyers: Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington). Fabienne Beuzit (Paris) and Jasper Berkenbosch (Amsterdam) were among the "Leading Individuals" ranked in the 2026 edition of The Legal 500 EMEA guide in the field of Restructuring and Insolvency or Insolvency. Rodolphe Carrière (Paris) was named a "Next Generation Partner" in the practice area Insolvency. Sid Pepels (Amsterdam) was selected by Global Restructuring Review's 40 under 40 2026. He was identified as a Rising Star within the global cross-border restructuring community. Global Restructuring Review is a leading digital subscription service, news outlet, and information platform dedicated exclusively to cross-border insolvency and corporate restructuring law. Fabienne Beuzit (Paris), Rodolphe Carrière (Paris), and Isabelle Maury (Paris) were recognized in the 2027 edition of The Best Lawyers in France™ in the practice area Insolvency and Reorganization Law. An article written by Corinne Ball (New York) titled "Comity and Fairness are Critical to Granting Additional Assistance under Chapter 15: A Canadian Reverse Vesting Order and Related Releases in Proceedings Involving Canadian and U.S.-Affiliated Companies Are Approved" was published in the June 24, 2026, edition of the New York Law Journal. An article written by Caitlin K. Cahow (Detroit) titled "New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions" was published on June 8, 2026, in Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on June 16, 2026, in the Harvard Law School Bankruptcy Roundtable. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), Isel M. Perez (Miami), and David S. Torborg (Washington) titled "Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief" was published on June 10, 2026, in Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) and Nathaniel Parr (Atlanta) titled "Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions" was published on June 11, 2026, in Lexis Practical Guidance. An article written by Corinne Ball (New York) titled "LMEs, Sophisticated Investors and Equitable Mootness: The Fifth and Third Circuits Warn Against Testing the Limits of Chapter 11" was published in the June 2026 issue of the American Bankruptcy Institute Journal. Nicholas J. Morin (New York) was quoted in an article titled "Serta Ruling Offers Damages Road Map in Lender-on-Lender Disputes," published by Bloomberg Law on July 7, 2026. The article discussed U.S. Bankruptcy Judge Christopher Lopez's July 7, 2026, ruling that participating lenders in Serta Simmons Bedding's 2020 non-pro rata uptier exchange breached the credit agreement's ratable-sharing provision, and awarding excluded lenders more than $261 million in damages. The opinion resolves six years of litigation related to Serta's 2020 transaction, where it raised $200 million in new financing and exchanged $1.2 billion of term loans for $875 million in superpriority debt. Judge Lopez found that the debt-for-debt exchange constituted a "payment" under the credit agreement, requiring proportional sharing among lenders, and dismissed various defenses raised by the participating lenders. The case is Serta Simmons Bedding LLC v. AG Centre Street Partnership (In re Serta Simmons Bedding LLC), 2026 WL 1968535 (Bankr. S.D. Tex. Jul. 7, 2026). The New York Law Journal has recognized Andrew M. Butler (New York) as a 2026 "Rising Star" in Restructuring/Bankruptcy as part of the New York Legal Awards. The Rising Star category recognizes New York's most promising lawyers age 40 and under who have distinguished themselves through exceptional legal work, leadership, and contributions to the profession. Lawyer Spotlight: Daniel J. Merrett Dan Merrett, a partner in the Atlanta Office, has spent nearly 20 years representing all manner of stakeholders in complex corporate restructurings and chapter 11 reorganizations. His practice extends to related transactions and disputes involving acquisitions; divestitures; credit facilities; securities; environmental obligations; and vendor, employee, and governance matters. Dan has substantial experience managing mass tort liabilities, including the restructurings and related chapter 11 cases of affiliates of Georgia Pacific and Johnson & Johnson, implemented to resolve asbestos and talc liabilities. He also represents key parties in energy and infrastructure matters, including facility owners, EPC contractors, and joint-venture parties. Dan was a key player in the restructuring teams in the historic bankruptcies of the City of Detroit and Chrysler. His other significant representations in chapter 11 cases include AFA Foods, Alpha Natural Resources, Dana Corporation, M&G Chemicals, McDermott International, Monster/CareerBuilder, Transtar Industries, and Westinghouse. He is licensed in both the United States and England & Wales and recognized in restructuring by Chambers USA and Best Lawyers.