Business

Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments in the U.S. during the first seven months of this year, according to new data.
That’s up 20% from the same period a year ago, said advertising analytics firm MediaRadar.
The increase demonstrates the rush by companies to capture new customers after months of hype around Novo Nordisk’s diabetes drug Ozempic and weight loss counterpart Wegovy. 

A view of a plastic model of a stomach during an interview with Doctor Thomas Horbach, specialist in surgery, visceral surgery and nutritional medicine on Novo Nordisk, which will start selling its hugely popular obesity drug Wegovy in Germany later this month, in Munich, Germany, July 17, 2023.
Christine Uyanik | Reuters

Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments in the U.S. during the first seven months of this year, up 20% from the same period a year ago, according to new data released Friday. 
The data, from advertising analytics firm MediaRadar, demonstrates the rush by companies to capture new customers after months of hype around Novo Nordisk’s diabetes drug Ozempic and weight loss counterpart Wegovy. 

Those drugs and similar treatments have soared in demand this year for their ability to help patients lose unwanted pounds. The medicines, known as GLP-1s, mimic a hormone produced in the gut to suppress a person’s appetite. 
U.S. health care providers wrote more than 9 million prescriptions for Ozempic, Wegovy and other obesity and diabetes drugs during the last three months of 2022, up 300% from early 2020.
MediaRadar compiled ad spending from national TV broadcasts, print publications, newspapers and websites and social media platforms from Jan. 1, 2022 to July 31, 2023. 
The top four drugs advertised were Ozempic, Wegovy, Novo Nordisk’s diabetes pill Rybelsus and Boehringer Ingelheim’s own diabetes treatment Jardiance, which is set to face drug price negotiations with the federal Medicare program. 
Together, those treatments accounted for $358 million, or about three-quarters, of total ad spending for obesity and diabetes drugs during the first seven months of this year, according to the data. 

Spending on Ozempic ads was $120 million during that time period, up 23% from the same period last year.
MediaRadar said in a statement that Ozempic’s rise in popularity has had a “positive impact on similar medications.” 
“It’s a classic case of ‘a rising tide lifts all boats,'” MediaRadar CEO Todd Krizelman said in the statement. “As Ozempic’s popularity grows, so does the demand for other weight loss and diabetes drugs, especially Wegovy, which has made a significant mark this year, particularly from Q2 onwards.”
Wegovy accounted for more than $20 million in ad spending during the first seven months of the year, primarily due to a spike in spending from April to July, according to MediaRadar. 
But MediaRadar noted that Novo Nordisk in May paused some key promotional advertising for Wegovy, specifically local and national TV advertising. 
MediaRadar said most of the spending on the drug was for digital advertising, such as online video.  More

Tensions are rising and accusations are flying between the Detroit automakers and United Auto Workers, as the union threatens to expand U.S. plant strikes.
Frustrations remain around key economic demands and what some see as a lack of urgency by the union to reach a deal, according to people familiar with the discussions.
GM and Stellantis have grown increasingly frustrated by a lack of participation from Fain and what they say are delays in receiving counter proposals from the union, sources said.

Striking members of the United Auto Workers (UAW) picket outside the GM’s Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023.
Evelyn Hockstein | Reuters

DETROIT – Tensions are rising and accusations are flying between the Detroit automakers and United Auto Workers, as the union threatens to expand U.S. plant strikes – marking two weeks of work stoppages and the dwindling likelihood of an imminent breakthrough.
The UAW is expected to announce additional strike targets at 10 a.m. ET Friday, barring substantial progress by in negotiations with General Motors, Ford Motor and Stellantis for contracts covering some 146,000 autoworkers. UAW President Shawn Fain will host a Facebook Live event then to update members on the talks and identify additional strike locations, a source familiar with the talks said.

In the run-up, frustrations remain around key economic demands and what some see as a lack of urgency by the union to reach a deal, according to people familiar with the discussions who spoke on the condition of anonymity because the talks are private.
Specifically, GM and Stellantis have grown increasingly frustrated by a lack of participation from Fain and what they say are delays in receiving counter proposals from the union, sources said.
The union set a new Friday deadline before holding any high-level meetings between Fain and the companies, the people said, raising questions about the union’s commitment to reaching a deal and ending the strikes. As of the Wednesday announcement, the UAW also hadn’t put forth counter proposals to offers made by the automakers roughly a week earlier, the people said.
The first high-level, “main table” talks between the union with Fain and the two automakers came only after that Wednesday announcement, in a late-afternoon meeting the same day with GM, without CEO Mary Barra, and a midday Thursday meeting with Stellantis, the sources said.

The union Thursday afternoon confirmed it submitted a counter offer to Stellantis during the meeting – giving the company less than 24 hours to respond ahead of the fresh deadline.

The lack of urgency is increasingly frustrating company negotiators, many of whom are more accustomed to around the clock bargaining to get a deal as soon as possible, the sources said. Such talks have been few and far between as Fain attempts to negotiate with all three companies at once, they said.
Fain has consistently said the union is available to negotiate 24/7, however the automakers have questioned his availability and the union’s tactics broadly, particularly in light of leaked private messages in which UAW communications director Jonah Furman described keeping the companies “wounded for months.”
A UAW spokesman declined to comment on the strategy, including on the union waiting a week to counter and giving Stellantis less than 24 hours to respond.
Concerns around the pace of talks follow similar claims by Fain and the union. Prior to initiating strikes on Sept. 15, Fain heavily criticized the automakers for failing to provide counter offers to the union’s proposals, which were first delivered to the companies in early August.
All three automakers say they’ve made substantial offers to the union. The deals on the table include hourly wage increases of roughly 20%, thousands of dollars in bonuses, and enhancements to the workers already-substantial benefits packages. Ford, for its part, has offered to reinstate prior cost-of-living adjustments to offset inflation.
But the UAW has demanded more, including 40% wage increases, an end to the “tier” system under which new hires spend several years working up to full wages, a 32-hour workweek, and benefits including additional time off and insurances about electric vehicles.
About 18,300 workers, or roughly 12.5% of the UAW members covered by its contracts with the Detroit automakers, are currently on strike.

On the picket lines

In recent days, union members on the picket lines have reported confrontations, intimidations with guns, hit-and-run vehicle accidents and vandalism of vehicles and company property.
Five people suffered minor injuries when they were hit by a vehicle that drove through the UAW’s picket line while leaving a GM parts facility in Flint, Michigan, on Wednesday. The vehicle was driven by a third-party contractor doing work for GM at the facility.

UAW members and workers at the Mopar Parts Center Line, a Stellantis Parts Distribution Center in Center Line, Michigan, picket outside the facility after walking off their jobs at noon on September 22, 2023. 
Matthew Hatcher | AFP | Getty Images

GM issued a statement saying that three contractors, including the driver, had been banned from its properties. It urged its other contractors and salaried employees to follow established safety procedures when crossing a UAW picket line.
Separately, Stellantis released a statement on Thursday accusing the UAW of mischaracterizing other incidents that did not – contrary to statements by Fain – involve replacement workers, or so-called “scabs.”
“Since the UAW expanded its strike to our parts distribution centers last Friday, we’ve witnessed an escalation of dangerous, and even violent, behavior by UAW picketers at several of those facilities, including slashing truck tires, jumping on vehicles, following people home and hurling racial slurs at dedicated Stellantis employees who are merely crossing the picket line to do their jobs,” the statement said.
The company said it has not hired any outside workers to replace striking UAW members: “Only current employees who are protecting our business and third parties making pick-ups and deliveries as they normally would are entering our facilities.”
The company called on Fain and other UAW leaders to help ensure the safety of all Stellantis employees, including those on the picket line. More

Nike reported fiscal first-quarter earnings that fell short of Wall Street’s revenue expectations for the first time in two years.
The sneaker giant beat expectations on earnings and gross margin.
Sales fell 2% in North America, Nike’s largest market, but rose in every other region it operates in.

A shopper leaves a Nike store along the Magnificent Mile shopping district with a purchase in Chicago, Dec. 21, 2022.
Scott Olson | Getty Images

Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading.
Here’s how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: 94 cents vs. 75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected

The company’s reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
“We’re closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book,” said finance chief Matthew Friend on a call with analysts.

“We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment,” he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike’s recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales. 
They’re also keen to see Nike’s margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters. 
During the quarter, Nike’s gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year. 
While Nike remains bullish on China, the region’s economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters. 
“We feel good about the market there and our position,” said CEO John Donahoe, adding he’s traveled to China twice in the last four months. “Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there.”
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike’s direct channel, which includes its owned stores and its digital channel, led the retailer’s growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
“We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values,” said Friend.
“Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels… Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet,” he said.
When it comes to its wholesale revenues, Nike’s relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts. 
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy’s and DSW – accounts that it previously cut in favor of its DTC strategy. 
Some analysts expected Nike’s wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog. 
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick’s Sporting Goods as one of its key partners and noted that it’s still in the process of resetting its business with Footlocker, which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it’s working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
“Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike’s total business,” said Friend.
“While the ultimate landing spot of digital and direct isn’t as clear, we do believe we’re going to be a more direct and a more digital company, and a more profitable company,” he said. “And there’s a channel mix and channel profitability opportunity that comes with that as well.”
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
“On the whole, we’re very comfortable with the level of inventory in the marketplace in relation to the retail sales that we’re seeing as we begin increasing levels of wholesale sell in our second half,” said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit. 
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn’t bode well for Nike. 
It’s still too early to gauge the impact of student loan payments on Nike. Its first quarter ended in late August, and payments aren’t set to resume until October.
During the quarter, footwear sales rose 4% to $8.4 billion, making up about 68% of Nike’s total sales. Apparel was down 1% at $3.4 billion.
Correction: Nike’s gross margin fell 0.1 percentage points. An earlier version of this story misstated that figure. More

GameStop’s new CEO Ryan Cohen sent an email to corporate employees and store leaders Thursday.
In the note, which was obtained by CNBC, Cohen emphasized the company will have to avoid common industry pitfalls such as “buying bad inventory, using leverage, and running expenses too high.”
Cohen was named CEO earlier Thursday.

A GameStop location on 6th Avenue in New York on March 23, 2021.
View Press | Corbis News | Getty Images

Just hours after being named GameStop’s CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling video game retailer survives.
“Our job is to make sure GameStop is here for decades to come,” he wrote in the email that was sent to corporate employees and store leaders and obtained by CNBC. “Extreme frugality is required. Every expense at the company must be scrutinized under a microscope and all waste eliminated. The company has no use for delegators and money wasters. I expect everyone to treat company money like their own and lead by example.”

Cohen, a billionaire activist investor and founder of direct-to-consumer pet food and supply retailer Chewy, was named the company’s new leader Thursday morning. He was previously executive chair of GameStop. As of late June, his firm RC Ventures was the company’s largest shareholder with a 12.09% stake, according to FactSet.
Cohen’s CEO announcement previewed the company’s emphasis on slashing costs: He will not receive a salary in his new role.
Cohen became an integral part of the “meme stock” frenzy, as he invested in companies including now bankrupt Bed Bath & Beyond. He joined GameStop’s board in 2021 in the thick of the phenomenon.
Cohen’s new role kicks off the latest chapter of GameStop’s effort to reinvent itself. The Grapevine, Texas-based retailer, which was founded in the 1980s, built its business on selling video games, consoles and other gaming merchandise.
Yet as customers buy video games online, it has fallen from relevance and had to chase new ways make money. It has experimented with new businesses, such as launching an NFT marketplace and striking a partnership with now bankrupt cryptocurrency exchange FTX.

The company has also dealt with major leadership changes. With Cohen on its board, GameStop tapped multiple Amazon veterans, including Matt Furlong, who became CEO, and Mike Recupero, who became chief financial officer.
Yet GameStop fired both of those leaders. Cohen got the top job nearly four months after the company ousted Furlong.
GameStop shares closed at $16.84 on Thursday and have fallen nearly 9% this year. The closing price was less than a quarter of its all-time high close of more than $86 a share in January 2021.
Earlier this month, GameStop reported a second-quarter net loss of $2.8 million, compared to a $108.7 million loss in the prior-year period.
—
Read the full memo below:
Subject: Survival I will be straight to the point. It is not sustainable for GameStop to operate a money losing business. The mission is to operate hyper efficiently and profitably. Our expense structure must allow us to endure any adverse scenario. Whether it’s a difficult economy or revenue deceleration from shrinking software, we must be profitable. Our job is to make sure GameStop is here for decades to come. Extreme frugality is required. Every expense at the company must be scrutinized under a microscope and all waste eliminated. The company has no use for delegators and money wasters. I expect everyone to treat company money like their own and lead by example. Prospering in retail means survival. If we survive, we stay in the game. Survival is avoiding the deadly sins that often lead retailers to self-destruct. This is usually a result of the following – buying bad inventory, using leverage, and running expenses too high. By avoiding these self-inflicted mistakes and focusing on the basics, GameStop can be here for a long time. I expect everyone to roll up their sleeves and work hard. I’m not getting paid, so I’m either going down with the ship or turning the company around. I much prefer the latter. It won’t be easy. Best of luck to us all. Ryan
This story is developing. Please check back for updates.
— CNBC’s Gabrielle Fonrouge contributed to this report. More

Endeavor Group and Fenway Sports are considering investing in the PGA Tour, sources said.
Such an investment could potentially rival or coincide with a deal proposed by Saudi Arabia’s Public Investment Fund.
In June, the PGA Tour reached a deal with Saudi-backed LIV Golf that would see the rival entities combine alongside a PIF investment in the tour.

The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017.
Fred Kfoury | Icon Sportswire | Getty Images

The PGA Tour is attracting potential outside investors — some of which are considering making a rival pitch to the Saudi-backed Public Investment Fund’s proposal, according to people familiar with the matter.
Endeavor Group Holdings and Fenway Sports Group are considering investing in the PGA Tour, potentially to rival or coincide with the PIF’s proposed deal, said the people, who declined to be named due to the sensitive nature of the discussions.

The discussions, which are in preliminary stages, stem from a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with PIF.
“Throughout 2023, the PGA Tour has demonstrated its strength, reach and value as an enterprise. Our focus continues to be on finalizing an agreement with the Public Investment Fund and the DP World Tour, however, our negotiations have resulted in unsolicited interest from other investors,” said a PGA Tour spokesperson.
Representatives for Endeavor and Fenway declined to comment.
Bloomberg earlier reported that Endeavor and Fenway were mulling a rival offer.
In June, the PGA Tour announced a proposed deal that would see it combine with rival LIV Golf following months of lawsuits and competition between the two. The PIF, which is controlled by Saudi Crown Prince Mohammed bin Salman, finances LIV.

Under the framework agreement, the tour would hold a permanent controlling interest in the new entity’s board of directors and would maintain that majority share regardless of PIF’s investments. PIF has said it would invest billions into the entity and hold a noncontrolling minority stake.
Specifics of the deal and its valuation are still being discussed. The tour’s board, including player directors, have to sign off on an eventual definitive agreement. Ultimately, the tour and its members will make the decision on the final investment structure, and whether it includes or is led by PIF or alternative investors, one of the people said.
The deal between LIV and the PGA Tour has faced criticism and controversy. It is currently under investigation by a Senate subcommittee. The Saudis have been accused of “sportswashing” to take the focus off the kingdom’s history of human rights violations.
Endeavor recently was behind the combination of its UFC and World Wrestling Entertainment, a newly merged publicly traded company now called TKO. Fenway is an investment firm that backs several major sports franchises, including Major League Baseball’s Boston Red Sox, the Liverpool Football Club and the National Hockey League’s Pittsburgh Penguins. More

Jeff Bezos’ Blue Origin and Sierra Space are navigating a potential end to the Orbital Reef space station partnership, according to three people who spoke to CNBC about the situation.
Discussions are ongoing and CNBC sources described the situation as fluid.
Shortly after unveiling the Orbital Reef project in 2021, Blue Origin won a $130 million contract from NASA for design work on the private space station.

A rendering of the “Orbital Reef” space station in orbit.
Blue Origin

The Orbital Reef space station partnership between Jeff Bezos’ Blue Origin and Sierra Space is on rocky footing, CNBC has learned.
The companies announced Orbital Reef as a co-led project in 2021, but updates about the project dried up in the past year. The pair of private space companies are now navigating a potential end to the Orbital Reef partnership, according to three people who spoke to CNBC about the situation.

Those people, speaking on the condition of anonymity to discuss nonpublic matters, emphasized that discussions are ongoing and described the situation as fluid. But other development projects with more significant current contracts – such as Blue Origin’s Blue Moon lunar lander and Sierra Space’s Dream Chaser spaceplane – have taken higher priority for both companies, those people said.
It’s becoming increasingly likely that Blue Origin and Sierra Space will go their separate ways, leaving behind joint efforts to develop Orbital Reef, according to those sources.

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Shortly after unveiling the Orbital Reef project, Blue Origin won a $130 million contract from NASA for design work on the private space station. That contract was one of three funded Space Act Agreements (SAA) that NASA issued for the first phase of its Commercial LEO Destinations (CLD) program.
Blue is the prime contractor under that NASA award, with Sierra as a subcontractor.
NASA spokesperson Rebecca Wickes told CNBC in a statement that the agency has so far paid Blue Origin $24 million of the total contract amount for completing specified milestones. As of yet “there are no current plans to transfer the agreement,” Wickes said.

Sierra did not respond to CNBC’s request for comment on Orbital Reef. Neither did Blue Origin, but the company, shortly after being reached by CNBC, posted on social media that it is making “progress on our Commercial Destinations Space Act Agreement with NASA.”
“Our team is currently testing window frames and materials in a relevant space environment,” Blue Origin said, without mentioning Orbital Reef by name.

Orbital Reef erosion

An artist’s rendering of a commercial space station in orbit.
Sierra Space

Blue originally unveiled Orbital Reef alongside Sierra, envisioning a “mixed use business park” in space. The first major pieces of Orbital Reef were scheduled to launch in 2027, with the companies aiming to begin service around the time the International Space Station retires near the end of the decade.
Habitable space stations have long been an interest for Blue Origin, with Bezos’ vision for the company to create a future where “millions of people are living and working in space to benefit Earth.” Similarly, Sierra has been developing an habitat concept for years, known as LIFE (“Large Integrated Flexible Environment”).
Several companies are also working to build private space stations, with competing projects being led by Axiom, Voyager Space, Northrop Grumman and Vast.
The Orbital Reef team also includes Boeing, Redwire, Amazon, Genesis Engineering Solutions, and Arizona State University underneath Blue and Sierra.
Orbital Reef is not seen as a top priority for either company, according to three people familiar with the companies. Two of those sources pointed CNBC to a shift in Blue Origin’s interests after the company won a $3.4 billion NASA contract to build a crew lunar lander – noting its space station and lunar lander programs compete for resources in the same business unit.
Blue Origin CEO Bob Smith is leaving at the end of the year and new leader Dave Limp will need to execute on other major projects – including its New Shepard and New Glenn rockets, as well as its BE-4 engine production.
Similarly, much of Sierra’s resources are devoted to getting the initial cargo variation of its reusable Dream Chaser spaceplane flying. It has been developing Dream Chaser for more than a decade, under contract to fly cargo for NASA to the International Space Station.
The company earlier this week raised $290 million in new funding and hopes to fly Dream Chaser to the ISS for the first time next year.
There have been signs the Orbital Reef project was unraveling: The website for the project, created jointly by Blue and Sierra, hasn’t published an update on the station’s development in more than a year. As of Thursday, neither company’s careers websites have job openings that mention “Orbital Reef,” despite having dozens of listings mention the project in the past. And Sierra Space dropped references to Orbital Reef in its most recent press releases, focusing solely on its own habitat work.
From NASA’s viewpoint, changes to the structure or involvement of different companies in the first phase of a project like this one are not surprising. For example, Northrop Grumman didn’t rejoin Blue Origin’s team when the company bid a second time for a crew lunar lander. And, more relevant to the CLD program, another space station project called Starlab saw Airbus take the place of Lockheed Martin as the core habitat’s builder.
For its part, Sierra has continued to test and develop LIFE – an inflatable module that made up a major part of the Orbital Reef architecture. Sierra has regularly posted updates about milestones in testing habitats, such as a recent “burst” testing of a sub-scale prototype. Last month, Sierra announced plans to launch a “pathfinder” demonstration mission of its LIFE (Large Integrated Flexible Environment) habitat in 2026. More

The National Football league responded to a report that its ads appeared on white nationalist X accounts.
The NFL didn’t indicate any plans to pull ads from the platform but did say it reached out to X to “rectify the issue.”
Watchdog groups have criticized Elon Musk’s X, formerly known as Twitter, for failing to monitor and remove hate speech.

Harun Ozalp | Anadolu Agency | Getty Images

The National Football League on Thursday responded to a recent report that pointed out its ads were placed on white nationalist feeds on Elon Musk’s social media platform, X, formerly known as Twitter.
“NFL unequivocally denounces any form of hate speech and has absolutely no association with these individuals or any group that promotes racism,” NFL spokesperson Brian McCarthy told NBC Sports’ Pro Football Talk. “As soon as this was brought to our attention, we immediately expressed our concerns to X to understand and rectify the issue.”

The NFL did not indicate if it would pull ads from the platform, or if X would remove the ads from the white nationalist accounts. X’s press relations email responded with an automated response when CNBC asked for comment: “Busy now, please check back later.”
Left-leaning media watchdog site MediaMatters.org first reported on the ad placements Wednesday. X shares a portion of ad revenue to owners of eligible accounts in which ads appear, if the owner opts in. Media Matters found five white nationalist accounts, with a total of one million followers, where NFL ads appeared.
Since Musk bought the social media company last year, watchdog groups have criticized the company for failing to monitor and remove hate speech.
X has fought back, suing the Center for Countering Digital Hate during the summer, arguing the group illegally accessed company data to claim that harmful content overwhelmed the platform. Earlier this month, the CCDH released a new report saying X continuously fails to remove hate speech and other harmful content from the platform despite being notified the content violated the platform’s hateful conduct guidelines.
The NFL’s statement Thursday comes days after Brian Rolapp, the NFL’s chief media and business officer, praised X and its CEO, Linda Yaccarino. “They are doing great work innovating to make the platform better for @NFLfans and partners,” he posted on the platform.
Yaccarino struggled to answer key questions regarding company matters, including hate speech and antisemitism, at Vox Media’s 2023 Code Conference on Wednesday. When asked about complaints regarding antisemitism on the platform, Yaccarino responded, “Everybody deserves to speak their opinion.” More

The league dominated the headlines over the summer as Saudi clubs cumulatively spent more than $1 billion in transfer fees and attracted some of the biggest names from Europe’s top leagues.
Speaking to CNBC at the APOS conference in Bali, Indonesia, on Thursday, Nohra said that Saudi Arabia’s strategy is “extremely long term,” but that the acquisition of players was the first step.

The big-spending Saudi Pro League is aiming to build its global broadcasting presence and become one of the top 10 soccer leagues in the world, its chief operating officer, Carlo Nohra, told CNBC on Thursday.
The league dominated the sports headlines over the summer as Saudi clubs cumulatively spent more than $1 billion in transfer fees and attracted some of the biggest names from Europe’s top leagues with mammoth contract offers.

Brazilian superstar Neymar and Senegalese forward Sadio Mane followed the previous arrivals of former Ballon D’Or winners Karim Benzema and Cristiano Ronaldo, along with a host of other stars from the English Premier League, Spain’s La Liga, Germany’s Bundesliga, Italy’s Serie A and France’s Ligue 1.
Speaking to CNBC at the APOS conference in Bali, Indonesia, on Thursday, Nohra said that Saudi Arabia’s strategy is “extremely long term,” but that the acquisition of players was the first step.
“While that helps us grow on the pitch, the idea is to grow off the pitch and to commercialize as well, so the strategy takes in every element that we need to focus on to get the Saudi Pro League to where it aspires to be among the top 10 leagues in the world,” he said.

The kingdom’s massive investment in sport is part of a broader effort to diversify its economy away from oil by investing in commercial infrastructure to become a tourism, leisure and entertainment powerhouse.
It is also being used to bolster the country’s global reputation, with critics arguing that the ultimate aim of Saudi Arabia’s investment in soccer, golf, boxing, motor racing, and many other sport and entertainment ventures is to distract from its dismal human rights record.

Crown Prince Mohammed bin Salman, in a recent interview with Fox News, embraced accusations of “sportswashing” and said he did not care about the criticism, so long as the massive sporting investments ultimately yielded a positive contribution to Saudi GDP growth.
Nohra explained that the objectives handed down to the Saudi Pro League’s bosses were to firstly improve on-pitch performance through the acquisition of world-class players, to fill the country’s stadia and ultimately to drive the commercialization of the vastly improved overall product.

“We had a long, hard look at ourselves, we’ve discovered that we need to improve the governance of the league, we need to improve the product itself and the commercialization of that product, better understanding of our fans,” he said.
“The player acquisition presented some issues that needed to be addressed, the clubs’ capabilities needed to improve so we’ve looked at that as well, and equally how we’re organized as a league in order to compete at the global level.”
Along with the domestic revenues the government is hoping to generate through in-person match attendance, capitalizing on Saudi Arabia’s young population’s love of the sport, Nohra also said the Saudi Pro League was looking to expand its broadcast presence around the world.
“Since the introduction of Cristiano Ronaldo into the league in January, we’ve seen global distribution expand to unprecedented levels for Saudi soccer, and through the acquisitions this summer, we’ve had renewals across the board with now the needle moving on the commercialization of those rights across the world,” he said.
“So we’re delighted with where we are at the moment but we still need to continue to deliver for fans across the world what they now wish to have from Saudi football.” More