Raphael Stevens

Amazon will include a key technology in its coming Project Kuiper internet satellites, the company announced, following successful tests in space during its recent prototype mission.
Kuiper satellites will feature “optical inter-satellite links,” also known as OISLs or laser links, which serve as a way to connect the satellites to one another in orbit.
“With optical inter-satellite links across our satellite constellation, Project Kuiper will effectively operate as a mesh network in space,” a company executive said.

A visualization of laser links connecting Kuiper satellites in orbit around the Earth.

Amazon will include a key speed-boosting technology in its coming Project Kuiper internet satellites, the company announced Thursday.
Amazon says it tested the laser link tech successfully during its recent Protoflight mission. Traditionally, satellites are limited to sending data between an individual spacecraft and the ground. Laser links connect satellites to each other.

The Kuiper satellites’ “optical inter-satellite links,” also known as OISLs, serve as a way to transmit data through space. Laser links are a feature that Elon Musk’s SpaceX began introducing in later generations of its Starlink satellites. The links help improve both the latency and speed of these networks.
“With optical inter-satellite links across our satellite constellation, Project Kuiper will effectively operate as a mesh network in space,” Rajeev Badyal, Amazon’s Project Kuiper vice president of technology, said in a statement.

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Amazon’s pair of Kuiper prototype satellites “completed multiple successful” laser link demonstrations, the company said. During the tests, the Kuiper prototype satellites maintained links that transferred data at 100 gigabits per second (Gbps) over a distance of nearly 621 miles between the spacecraft.
“Because light travels faster in space than it does through glass, Kuiper’s orbital laser mesh network will be able to move data approximately 30% faster than if it traveled the equivalent distance via terrestrial fiber optic cables,” Amazon said.
The company plans to include laser links from the outset in production of its commercial Kuiper satellites, with the network planned to consist of 3,236 satellites in low Earth orbit. To date, Amazon has ordered 97 rocket launches to begin deploying its satellites in the first half of next year. In full, Amazon expects to invest upward of $10 billion to build Kuiper.

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Cadillac plans to round out its upcoming lineup of all-electric SUVs with a three-row vehicle called the Vistiq.
Cadillac declined to disclose pricing, availability and other specifics of the 2026 Vistiq, which is expected to go on sale in the U.S. in 2025.
With confirmation of the Vistiq, Cadillac’s upcoming EV lineup now matches its traditional internal combustion engine vehicle lineup, aside from an extended ESV version of the Escalade.

The 2026 Cadillac Vistiq EV.

DETROIT — Cadillac plans to round out its upcoming lineup of all-electric SUVs with a three-row vehicle called the Vistiq, a replacement for its current gas-powered XT6.
The General Motors luxury brand on Thursday released images of the Vistiq, which is expected to be its fifth EV, and slot between the company’s current all-electric Lyriq and upcoming Escalade IQ.

Cadillac declined to disclose pricing, availability and other specifics of the 2026 Vistiq, which is expected to go on sale in the U.S. in 2025.
“Our brand now has an EV entry in most luxury segments, offering customers a range of choices, and Cadillac EVs will cover most luxury SUV segments across critical global markets in the next two years,” John Roth, vice president of Cadillac, said in a release.
With confirmation of the Vistiq, Cadillac’s forthcoming EV lineup now matches its traditional internal combustion engine vehicle lineup, aside from an extended ESV version of the Escalade.
The electric SUVs — Optiq, Lyriq, Vistiq and Escalade IQ — are expected to replace their gas-engine counterparts in Cadillac’s lineup by 2030, when the brand has said it will exclusively offer EVs. It’s also producing a bespoke $300,000-plus Celestiq hatchback.
Cadillac has yet to reveal EV replacements for its two current CT4 and CT5 sedans.

The 2026 Cadillac Vistiq EV.

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The median rent in Manhattan fell 2% in November, to $4,000 from $4,095, according to a report from Douglas Elliman and Miller Samuel.
The drop, while slight, marks the first year-over-year decline in median prices in 27 months, according to the report.
Tight supply and strong demand pushed rents to record highs over the summer, holding steady in the early fall. Now, brokers say demand is fading fast.

Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for price cuts, according to a report released Thursday.
The median rent in Manhattan fell 2% in November, to $4,000 from $4,095, according to a report from Douglas Elliman and Miller Samuel. The drop, while slight, marks the first year-over-year decline in median prices in 27 months, according to the report.

“Prices hit an affordability threshold and this is the reaction,” said Jonathan Miller, CEO of Miller Samuel.
The decline in Manhattan rents has important implications for the housing market and overall inflation, since Manhattan is the nation’s largest rental market. Renters and economists have been predicting a decline in Manhattan rents for over a year, but tight supply and strong demand pushed rents to record highs over the summer, holding steady in the early fall.
Now, brokers say demand is fading fast.
“The decline has been sudden,” said Keyan Sanai, the top rental broker for Douglas Elliman in New York. “You can feel it.”
Sanai said many landlords are quietly offering concessions, like a month of free rent, rather than cut listing prices. He had a recent one bedroom listing in midtown that was asking $4,700 a month. After negotiating, the renter won concessions that brought the effective rent down to $3,900 a month.

The number of apartments offering concessions increased to 14% in November from 12% in October, according to Miller Samuel and Douglas Elliman.
Sanai said the number of renters looking for apartments has also cooled quickly. In September, his inbox was filled with renter requests for a listing in a luxury building where units went for $7,500 a month. In October, a similar unit came on the market “and nobody was reaching out. The velocity declined rapidly.”
Of course, Manhattan rents are still the highest in the country and are still 11% higher than before the pandemic. The average rent in Manhattan is still $5,150 a month, despite also falling 2% over last year.
Inventory also remains historically tight, just under the normal 3% level, according to Miller Samuel and Douglas Elliman.
Yet brokers say renters looking for apartments may see prices continue to fall into early next year. They say job cuts in the financial and tech industries in Manhattan will limit demand from young new employees in Manhattan. Falling mortgage rates will also start to make the sales market more attractive, turning more renters into buyers.
“For landlords I think it could be a dark winter, then things will probably get brighter in the Spring,” Sanai said. “My advice to renters is to take advantage of the deals.” More

Ben Sherwood, former president of the Disney ABC Television Group, is looking to supercharge youth sports in a partnership with youth sports management platform TeamSnap.
Sherwood’s MOJO Sports platform, which boasts live game streaming, launched in 2021 with big-name backers such as NFL star Russell Wilson.
The youth sports industry is heating up after a pandemic slump, says an expert in the field, with the industry commanding a larger market than the NFL.

Former Disney TV executive Ben Sherwood coaching his son Will.
Credit: Karen Sherwood

While Ben Sherwood was working as a top Disney television executive, he was juggling another major commitment — one he couldn’t quite get the hang of.
Sherwood traveled back and forth between the East and West Coasts to coach for his son’s baseball, soccer, basketball and flag football teams. He became passionate enough about it to launch a youth sports venture, MOJO Sports, following his tenure at Disney.

“I wasn’t very good at it, but I loved it,” Sherwood, also a novelist and a former journalist, told CNBC. “As I got ready to leave Disney in 2019, my thought was how could we bring a little bit of Disney magic to youth sports and build a consumer-facing app that helps parent like me who wanted to be involved.”
Now, Sherwood is looking to level up his platform with a new partnership. TeamSnap, a sports management platform, is buying MOJO, the two sides announced Thursday morning. Financial terms of the deal were not announced.
Sherwood hopes the deal will scale MOJO to TeamSnap’s millions of users. Parents and youth team managers use TeamSnap, founded in 2009, to organize rosters and schedules, while enabling communication between parents and coaches. The business also has a business-to-business arm, which facilitates management, registration and payments for league owners.
The partners hope MOJO’s coaching resources and live game streaming will make involvement in youth sports a better experience for players, families and coaches. MOJO’s data has shown that its platform leads to lower coach churn and supports lower dropout rates for players.
This is partially due to the wide range of coaching materials available on the platform, which were created and supplied by MOJO’s partners in pro sports such as Major League Baseball. The resources give coaches the material and know-how to lead a better, and more fun, team practice, Sherwood said.

“The biggest reason kids drop out of sports is that it’s not fun,” said Sherwood. “One of the biggest reasons it’s not fun is practice sucks and the coach is terrible.”
When your kids are involved in youth sports, every weekend becomes Super Bowl weekend, said TeamSnap CEO Peter Frintzilas.

MOJO rising

MOJO Sports launched its platform in 2021 fully decked out with coaching materials, virtual player cards and a photo library for players. But the main attraction is its live game streaming, a service that, say, lets grandparents watch their grandkids’ games from across the country.
MOJO also boasts National Football League star power. Super Bowl-winning quarterback Russell Wilson, who is now with the Denver Broncos, came on board with MOJO in 2021 as a founding partner and investor. MOJO announced a partnership with NFL Flag, where Wilson serves as chairman, in August 2021.
“I’m deeply connected to our mission at MOJO, which is to enhance the youth sports experience,” Wilson said in a statement. “With the size, scale and resources of TeamSnap, the combined new platform will be unstoppable in helping us reach that goal.”

Seattle Seahawks quarterback Russell Wilson drops back to pass during the fourth quarter of Super Bowl XLIX.
Icon Sports Wire

TeamSnap’s platform captures more than two million daily active users, which will allow MOJO to scale its streaming and training content to the vast user base, Sherwood said. MOJO already has five million users worldwide on the platform, the company said.
While professional leagues such as the NFL and National Basketball Association generate billions in revenue, youth sports isn’t exactly small fry. The market captures $37.5 billion globally, with an estimated 60 million young athletes involved, according to Sports Business Journal, referencing Maia Research. The NFL made revenue of nearly $12 billion in 2022 in its main market, the U.S., NBC Sports reported.
The youth sports market as whole is heating up after a pandemic slump, when Covid restrictions limited social interactions and events, according to youth sports expert and Aspen Institute director Tom Farrey.
“Private equity is flowing billions of dollars into the youth sports market,” said Farrey. “Firms are buying up and aggregating clubs in a number of sports, and creating new products for an industry that serves as many as 30 million children and could serve tens of millions more in the U.S. alone if it can reduce attrition rates.”
Youth sports is uniquely positioned because of its ability to attract a far more devout customer than even that of top professional sports leagues. The average parent in the U.S. shells out $883 a year for one child’s sports commitments with many families paying far more, according to an Aspen Institute report from 2022. In total, parents cough up $30 billion to $40 billion annually for youth sports, the Aspen Institute added.
“I love the Liverpool Football Club, but I’m a way bigger fan of the team my son plays soccer on,” said Sherwood. “You are a much bigger fan of your child’s team than any pro team, and it’s that fandom that we are trying to unlock.”Don’t miss these stories from CNBC PRO: More

Moderna and Merck’s experimental cancer vaccine, when used in combination with Keytruda, reduced the risk of death or relapse in patients with the most deadly form of skin cancer after three years, according to midstage trial data.
Those results build on midstage trial data the companies released earlier this year, which examined the efficacy of the combination over a shorter period.
Moderna and Merck are also testing the vaccine with Keytruda against other tumor types, including non-small cell lung cancer.

An exterior view of Moderna’s clinical manufacturing facility. 
David L. Ryan | Boston Globe | Getty Images

Moderna and Merck’s experimental cancer vaccine, when used in combination with Merck’s blockbuster therapy Keytruda, reduced the risk of death or relapse in patients with the most deadly form of skin cancer after three years, according to midstage trial data released Thursday. 
The combination specifically slashed the risk of death or recurrence of the cancer, known as melanoma, by 49% in patients in later stages of the disease compared to those who received Keytruda alone after three years. The cancer vaccine in combination with Keytruda also reduced the risk of melanoma spreading to other parts of the body by 62%.

Those results build on midstage trial data the companies released earlier this year, which showed the efficacy of the combination in the same 157 patients over a shorter period. After around two years, the vaccine and Keytruda cut the risk of death or relapse by 44% in melanoma patients, and reduced the risk of the cancer spreading in the body by 65%, according to the earlier trial data. 
The most common side effects of the vaccine after three years were fatigue, injection site pain and chills, according to Thursday’s data.
The new results suggest that the cancer shot used with the immunotherapy continues to provide meaningful health benefits to melanoma patients after they stay on the treatment for a longer period of time. The two drugmakers are continuing to study the combination as a treatment for melanoma in a late-stage trial, which began in July.
The vaccine, which uses the same mRNA technology as Moderna’s Covid vaccine, is custom-built based on an analysis of a patient’s tumors after surgical removal. The shot is designed to train the immune system to recognize and attack specific mutations in cancer cells.
Merck’s Keytruda, which is approved to treat melanoma and other cancers, belongs to a class of widely used immunotherapies known as checkpoint inhibitors designed to disable a certain protein that helps cancer evade the immune system.

The U.S. Food and Drug Administration gave breakthrough therapy designation to the cancer vaccine for the treatment of melanoma in February, which is intended to speed up the development and review of treatments for serious and life-threatening diseases.
Moderna and Merck are also testing the vaccine with Keytruda against other tumor types. On Monday, the drugmakers started a late-stage trial on the combination as a treatment for non-small cell lung cancer.
Melanoma is responsible for the large majority of skin cancer deaths, according to the American Cancer Society. The rate of melanoma has increased rapidly over the past few decades, according to the organization.
About 100,000 people will be diagnosed with melanoma in the U.S. this year and nearly 8,000 people are expected to die from the disease, according to the American Cancer Society.Don’t miss these stories from CNBC PRO: More