Top Stories Wednesday, Oct 11: Google AI-Powered Chatbot's Ethical Concerns, MGM Hackers Waited For Days Before Issuing Financial Demands, Costco Accused Of Sharing Confidential Health Data With Facebook - Alibaba Gr Hldgs (NYSE:BABA), Baidu (NASDAQ:BIDU)

Bloomberg

Google's AI Dilemma - Bard's Promise Versus Ethical Concerns

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Discord Inc have been hosting an exclusive chat for avid users of Bard, Google's AI-powered chatbot.
Integrating Bard into core Google services like Gmail, Maps, Docs, and YouTube has not been without challenges.

Ransom Rebels! MGM Hackers Waited For Days Before Issuing Financial Demands

MGM Resorts International's (NYSE:MGM) Chief Executive Officer, Bill Hornbuckle, reportedly snubbed hackers' ransom demands after they infiltrated the casino chain's computer system, primarily because their monetary request didn't roll in until after the company had unearthed the cyberattack.
The hackers moved through MGM's systems for days before sending a ransom note.

Chinese EV Maker XPeng Expects Corruption Probe Not To Affect Its Business

Chinese EV giant XPeng Inc (NYSE:XPEV) reportedly expects the probe into its head of procurement not to disrupt business or production processes.
Li Feng, who is also a vice president at XPeng, has been suspended while the investigation is ongoing, Guangzhou-based XPeng said in a written response.

New York Post

Costco Sued, Accused Of Sharing Confidential Health Data With Facebook

Costco Wholesale Corp (NASDAQ:COST) is facing legal action, accused of sharing sensitive customer information with Meta Platforms Inc (NASDAQ: META), the parent company of Facebook, without the customers' approval.
A Seattle federal court lawsuit claims that the wholesale giant used Meta's analytical tool, Meta Pixel, on its website, compromising the privacy of its customers.

Benzinga

Health Insurer Humana Ropes In Former UnitedHealth Executive To Assume CEO Role In 2024

Humana Inc (NYSE:HUM) disclosed the appointment of healthcare industry veteran Jim Rechtin as President and Chief Operating Officer, effective January 8, 2024.
Rechtin will report to Bruce Broussard, CEO, until the latter half of 2024. Broussard will then step down, and Rechtin will take the CEO role.

Novo Nordisk Stops Semaglutide Kidney Outcome Trial Based On Early Signs Of Efficacy

Pharmacy Retailer Giant Walgreens Ropes In Former Cigna Executive As CEO

Little Less Heartburn For GSK: Settles Another California Lawsuit On Zantac Causes Cancer

GSK plc (NYSE:GSK) has reached a confidential settlement in the Cantlay/Harper case filed in California state court.
The case, which was set to begin trial on November 13, will be dismissed.

China's Geely Deepens Commitment To Southeast Asia With New Collaborative Agreements

French Fashion Giant LVMH Posts 9% Organic Revenue Growth In Q3

French luxury fashion house LVMH-Moet Hennessy Louis Vuitton (OTC:LVMHF) (OTC: LVMUY) reported nine months of FY23 sales growth of 10% Y/Y to €62.205 billion.
Organic revenue growth was 14% in the nine months ended FY23 and 9% in Q3 FY23.

Qantas Airways Overhauls Board To Rebuild Trust And Address Reputational Challenges

800% In One Session - Why Is Cancer Focused Tempest Therapeutics Stock Soaring Today

SCMP

Tech Giants Like Baidu, Huawei and Alibaba Are Setting Standards For China's Autonomous Driving Future

Reuters

Blackstone's India Move-In Talks For Disney's Stake

Wall Street Journal

Mallinckrodt's Bankruptcy Plan Approved, Wiping Out Over $1B Meant for Opioid Overdose Crisis

Caution Prevails as German Shoe Manufacturer Birkenstock Prices IPO Amid Market Uncertainty

German shoemaker Birkenstock has reportedly priced its initial public offering at $46 per share, resulting in a market valuation of around $8.6 billion.
Birkenstock and its private equity owner aimed to offer approximately 32 million shares within a price range of $44 to $49 per share.

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Bloomberg

Google's AI Dilemma - Bard's Promise Versus Ethical Concerns

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Discord Inc have been hosting an exclusive chat for avid users of Bard, Google's AI-powered chatbot.
Integrating Bard into core Google services like Gmail, Maps, Docs, and YouTube has not been without challenges.

Ransom Rebels! MGM Hackers Waited For Days Before Issuing Financial Demands

MGM Resorts International's (NYSE:MGM) Chief Executive Officer, Bill Hornbuckle, reportedly snubbed hackers' ransom demands after they infiltrated the casino chain's computer system, primarily because their monetary request didn't roll in until after the company had unearthed the cyberattack.
The hackers moved through MGM's systems for days before sending a ransom note.

Chinese EV Maker XPeng Expects Corruption Probe Not To Affect Its Business

Chinese EV giant XPeng Inc (NYSE:XPEV) reportedly expects the probe into its head of procurement not to disrupt business or production processes.
Li Feng, who is also a vice president at XPeng, has been suspended while the investigation is ongoing, Guangzhou-based XPeng said in a written response.

New York Post

Costco Sued, Accused Of Sharing Confidential Health Data With Facebook

Costco Wholesale Corp (NASDAQ:COST) is facing legal action, accused of sharing sensitive customer information with Meta Platforms Inc (NASDAQ: META), the parent company of Facebook, without the customers' approval.
A Seattle federal court lawsuit claims that the wholesale giant used Meta's analytical tool, Meta Pixel, on its website, compromising the privacy of its customers.

Benzinga

Health Insurer Humana Ropes In Former UnitedHealth Executive To Assume CEO Role In 2024

Humana Inc (NYSE:HUM) disclosed the appointment of healthcare industry veteran Jim Rechtin as President and Chief Operating Officer, effective January 8, 2024.
Rechtin will report to Bruce Broussard, CEO, until the latter half of 2024. Broussard will then step down, and Rechtin will take the CEO role.

Novo Nordisk Stops Semaglutide Kidney Outcome Trial Based On Early Signs Of Efficacy

Novo Nordisk A/S (NYSE:NVO) has decided to stop the kidney outcomes trial FLOW based on a recommendation from the independent Data Monitoring Committee.
The DMC concluded that the results from an interim analysis met certain pre-specified criteria for stopping the trial early for efficacy.
Novo Nordisk expects data readout during the first half year of 2024.

Pharmacy Retailer Giant Walgreens Ropes In Former Cigna Executive As CEO

Walgreens Boots Alliance Inc (NASDAQ:WBA) has appointed Tim Wentworth as its new Chief Executive Officer, effective October 23. Wentworth will also join the WBA Board of Directors upon assuming the role.
Walgreens has found itself needing a new chief after Brewer, an established figure in the retail sector, left her position unexpectedly at the end of August, following a brief tenure of two-and-a-half years.

Little Less Heartburn For GSK: Settles Another California Lawsuit On Zantac Causes Cancer

GSK plc (NYSE:GSK) has reached a confidential settlement in the Cantlay/Harper case filed in California state court.
The case, which was set to begin trial on November 13, will be dismissed.

China's Geely Deepens Commitment To Southeast Asia With New Collaborative Agreements

China's largest privately held automotive group, Geely Holding Group, has entered into a Master Collaboration Agreement with DRB-HICOM Berhad to develop Malaysia's Automotive Hi-Tech Valley.
The announcement follows an earlier commitment by the Malaysian Prime Minister, Anwar Ibrahim, who in July mentioned Geely's intent to inject a massive $10 billion into the establishment of this auto hub.

French Fashion Giant LVMH Posts 9% Organic Revenue Growth In Q3

French luxury fashion house LVMH-Moet Hennessy Louis Vuitton (OTC:LVMHF) (OTC: LVMUY) reported nine months of FY23 sales growth of 10% Y/Y to €62.205 billion.
Organic revenue growth was 14% in the nine months ended FY23 and 9% in Q3 FY23.

Qantas Airways Overhauls Board To Rebuild Trust And Address Reputational Challenges

Qantas Airways Ltd (OTC:QABSY) Chairman Richard Goyder will retire before the Annual General Meeting in late 2024.
Non-executive director Michael L'Estrange is also stepping down at this year's AGM on November 3, 2023. Board members Jacqueline Hey and Maxine Brenner are scheduled to retire at the Qantas half-year results in February 2024.

800% In One Session - Why Is Cancer Focused Tempest Therapeutics Stock Soaring Today

Tempest Therapeutics Inc (NASDAQ:TPST) released new and updated results from the planned data analysis of an ongoing Phase 1b/2 study of TPST-1120 in the first-line treatment of patients with unresectable or metastatic hepatocellular carcinoma (HCC).
TPST-1120 shows clinical superiority in multiple study endpoints when combined with atezolizumab and bevacizumab (triplet arm) in a randomized comparison to atezolizumab and bevacizumab.

SCMP

Tech Giants Like Baidu, Huawei and Alibaba Are Setting Standards For China's Autonomous Driving Future

Huawei Technologies, Baidu Inc's (NASDAQ: BIDU) auto driving unit, and Alibaba Group Holding Limited's (NYSE: BABA) mapping service are collaborating to establish technology standards for autonomous driving on China's highways.
This initiative is part of the nation's plan to integrate new technology and enhance its road network to accommodate the emerging autonomous driving industry.

Reuters

Blackstone's India Move-In Talks For Disney's Stake

Blackstone Inc (NYSE:BX) has initiated preliminary talks with Walt Disney Co (NYSE:DIS) to acquire a stake in Disney's Indian subsidiary. The discussions mark Blackstone's entry as a potential buyer for Disney's assets in India.
Disney has been considering either a sale or finding a joint venture partner for its digital and TV business in this market.

Wall Street Journal

Mallinckrodt's Bankruptcy Plan Approved, Wiping Out Over $1B Meant for Opioid Overdose Crisis

Mallinckrodt plc (OTC: MNKTQ), one of the largest manufacturers of prescription opioids in the U.S., has secured court approval for a plan that erases over $1 billion in payments intended for people with a substance use disorder while transferring control of the pharmaceutical company to its lenders.
This development marks a significant step for Mallinckrodt, as it paves the way for the company to emerge from bankruptcy just a few months after filing for Chapter 11 protection.

Caution Prevails as German Shoe Manufacturer Birkenstock Prices IPO Amid Market Uncertainty

German shoemaker Birkenstock has reportedly priced its initial public offering at $46 per share, resulting in a market valuation of around $8.6 billion.
Birkenstock and its private equity owner aimed to offer approximately 32 million shares within a price range of $44 to $49 per share.

BABAAlibaba Group Holding Ltd

COSTCostco Wholesale Corp

$979.400.13%

DISThe Walt Disney Co

$107.86-0.24%

GOOGAlphabet Inc