
Big Take: 23andMe Bankruptcy Puts a Price on Your DNA
The genetic testing company 23andMe filed for bankruptcy in March, after years of slowing sales, legal trouble, and a declining stock price. And now, the valuable trove of genetic data the company owns is for sale, sparking privacy concerns. On today's Big Take, Bloomberg biotech reporter Gerry Smith traces the rise and fall of 23andMe, and bankruptcy reporter Jonathan Randles outlines what a possible sale could mean for millions of users' genetic data.

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Report: Meta taps Scale AI's Alexandr Wang to join new ‘superintelligence' lab
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Yahoo
41 minutes ago
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Circle's Wild IPO Sparks ETF Rush Betting on the Hot Stablecoin Stock
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'It's a crypto company, so that's high demand, it's leveraged and it's a market hungry for IPOs.' Shares of the New York-based firm have soared more than 270% across their first three trading sessions, marking the most high-profile crypto equity debut since Coinbase Global Inc.'s direct listing in 2021. Its $1.1 billion IPO lands amid renewed bullishness for digital assets — fueled in part by a regulatory sea change under President Donald Trump, whose administration has signaled a dramatically friendlier stance toward crypto compared to his predecessor. That shift has emboldened both issuers and traders alike. Single-stock ETFs — many of them leveraged or using options overlays — now account for a record 16% of all new funds launched in 2025, per Bloomberg Intelligence. More than 15 firms are now competing in the space, most of them targeting high-conviction retail traders seeking fast, directional exposure. 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Starbucks reduces prices on tea-based drinks in China
US coffee giant Starbucks has unveiled a strategic price reduction for its tea-based beverages in its second-largest market, China, aiming to attract customers amid a challenging consumer environment and increasing competition. The coffee chain is set to lower prices by an average of five yuan ($0.70) on a selection of more than a dozen frappuccino, iced tea and tea latte options. The move is designed to appeal to the Chinese market's demand for non-coffee offerings, particularly during the summer season. Starbucks China chief growth officer Tony Yang was quoted by Bloomberg: 'Improved 'non-coffee' product matrix will go side by side with core coffee offerings to better meet the diversified needs of customers.' This decision is a notable shift from the company's usual premium pricing strategy, especially given its promotion on its official WeChat account - a rare marketing approach for the brand in China, according to the news agency. This pricing strategy comes as China is experiencing a deflationary trend in consumer prices, affecting sectors from automotive to fast food. Government data for May 2025 indicates that consumer prices have been in deflationary territory for four consecutive months. By reducing prices, Starbucks is positioning itself to compete more effectively with local tea chains and other beverage providers offering lower-priced options. While Starbucks CEO Brian Niccol is focusing on streamlining the US menu to emphasise coffee, the brand's expansion of tea-based beverages in China is a tailored approach to capture market share in the world's second-largest economy. With the new pricing, Starbucks aims to offer tea drinks starting at 23 yuan - closer to the price points of upscale local tea chains. Local competitors such as Luckin Coffee and Cotti have reduced their pricing, offering drinks for as low as 9.9 or even 8.8 yuan. "Starbucks reduces prices on tea-based drinks in China" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio