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Four Years of Lower Drug Prices: Real Savings, Unfinished Business
The administration is touting these agreements as proof that drug prices are coming down. However, we don’t have the evidence to back that up.
Sold: Sanford buys North Memorial Health
Following years of mounting financial pressure, North Memorial Health has reached an agreement to be acquired by South Dakota-based Sanford Health, backed by $600 million in guaranteed local hospital investments
Ben Simmons makes $3.5 million decision to revive NBA career
Former Rookie of the Year Ben Simmons is making a comeback to the NBA. After an impressive workout, he has agreed to terms with a team in the Western Conference.
Sony's PlayStation disc plant is losing 10 percent of its volume in 2028, not 90
Sony’s PlayStation disc plant is losing 10 percent of its volume in 2028, not 90 Sony won’t license disc pressing to anyone else, Microsoft does, and a former PlayStation boss thinks that’s the whole problem. When Sony DADC chief Dietmar Tanzer spoke with an Austrian broadcaster in July about PlayStation disc production at the Thalgau plant, a number of press outlets misunderstood the report, writing that production would fall to a tenth of current levels. It won’t. Sony DADC confirmed to Game this week that the figure is a 10 percent decline, not a decline to 10 percent. “To clarify and avoid any misleading information: in that statement Dietmar anticipated an overall product volume decline by 10 percent, not a decline down to 10 percent,” a spokesperson with Sony DADC told Game. That figure covers 2028. Tanzer didn’t put a number on the years after, and the spokesperson declined to comment further. What we do know is that on July 1, PlayStation announced that physical game disc production for all new games releasing on PlayStation consoles will be discontinued starting January 2028 and that the transition has no impact on games that have already released in disc format or will be releasing in disc format prior to that month. “So, there will be reorders going to the market after January 2028,” the Sony DADC spokesperson said. “For details around that I would ask you to liaise with the PR team from PlayStation, as we can’t speak or comment on their behalf.” PlayStation officials did not respond to questions about reorders or other disc-related matters. But I did recently speak with Shawn Layden, Game Industry Strategic Advisor and former chairman of SIE Worldwide Studios, who called a future without physical PlayStation discs “depressing, but solvable.” then added, “I think.” The chief hurdle to third-party manufacturing of collector’s editions or any other version of a PlayStation game disc is that Sony owns the proprietary process to press those discs, Layden said. “And unless they decide or determine a way to license that to some of these bespoke disc manufacturers, there’s no way to make it happen,” he said. Layden was careful to add that he understands the concept but doesn’t have “line of sight on the particulars.” “Depressing but solvable, I think.” — Shawn Layden Microsoft already licenses replication to outside plants. Xbox discs are pressed by manufacturers Microsoft certifies as Authorized Replicators, a term defined in its publisher agreements, with the approved list set at the company’s sole discretion and Microsoft retaining the right to halt manufacture. The structure is still in place today: publishers select an Authorized Replicator in Partner Center and submit a bill of materials created with a Microsoft representative. Sony, by contrast, presses PlayStation discs through Sony DADC, its own manufacturing subsidiary. No one I spoke with said they were in discussions with Sony about doing that, and PlayStation hasn’t responded to questions about whether it would be open to a licensing deal. There is an obvious reason Sony might not want to. Niko Partners analyst Daniel Ahmad pointed it out on the day of the announcement: it’s a platform-led decision, he wrote, designed to cut costs, eliminate the resale market, and drive all revenue through the PlayStation Store. The math is not subtle. On a $70 third-party game sold through the PlayStation Store, Sony keeps $21. Sold at retail, Ahmad says, it earns about half that. Licensing disc replication to an outside manufacturer might not be worth it. And even if it were, it seems unlikely that such a deal would come from boutique companies like iam8bit, which sells collector’s editions of video games. “We would absolutely love to find a way forward to continue making physical PlayStation games,” said Jon Gibson, co-owner and co-creative director of the company. “We are big believers in giving humans the option to truly own media. If we can play a role in helping make that a reality for the future of PlayStation games, count iam8bit in!” If it were to happen, it would most likely be with a company like Conectiv Supply Chain Solutions, a Memphis-based manufacturer of optical discs and vinyl records that also runs third-party logistics, fulfillment and distribution for packaged media. The company, which was formed in 2025 when Los Angeles private equity firm Variant Equity Advisors purchased Vantiva’s Supply Chain Solutions division, traces its lineage back to Technicolor. When it sold the division, Vantiva described the business as having served video game creators for more than 25 years. Conectiv is also buying, not shrinking. Last month it acquired SDS, the distributor for Universal and Warner Bros. home entertainment, consolidating those studios’ packaged-media pipeline from pressing plant to retail shelf. I reached out to Conectiv and its CEO, but haven’t heard back. Layden pointed to music and books in our discussion about the ongoing value of physical media. “No one ever saw the comeback of cassette tape,” he said. “And vinyl didn’t so much come back. The flame went down, the fire’s dying, but the ember was always there, and it just kind of came back. Much like the book business. We thought we’d all be on Kindles right now. “I believe that physical media is crucial and important. One of the things that makes us gamers, one of the core game mechanics, going back to the beginning of time, is collecting stuff. “Did you get all the diamonds in Crash Bandicoot? Did you get all the stars in Mario? And we like to collect our games. And we have a game shelf. And we put all our boxes up there. And if you’re super hardcore, when you buy a game, you buy two copies, right? One stays in the shrink wrap, and you play the other one. What happens to that important cultural part of the gaming world? You know, we buy the steelbook and the three-disc Final Fantasy set and the figurine and, you know, you can’t download any of that. “What happens to that?” And Layden believes it shouldn’t have been a revenue question for PlayStation. “This was a core thing to the experience of our most devoted fans,” he said. “Yeah, it’s fan service. Why would we take that away? Well, we can’t afford to. It’s already 120 bucks, you know, limited edition special purchase onyx box version of whatever, and those sell at a higher rate than the box selling at $69.99 does. So yeah, the market has said they will continue to buy them. You’re just saying you just don’t want to make them anymore.” Layden said he was recently talking with someone about these sorts of business decisions and how they’re made. Too often, he said, it’s all about the financials and nothing else. “OK, we can do this and save this much money, or we can invest this to look at that outcome, or we can do this and have this happen over there, or move this team to Sri Lanka,” he said. “But each one of those, someone also has to have a ledger there saying, ‘OK, what is the brand impact from that move?’ “Iif you can’t resell it, do you really own it?” — Shawn Layden “If we do that, dollars and cents work out. I get it. That’s just math. But what’s the brand impact? Are people going to say, ‘Good move, you guys?’ Or are they going to say, ‘We hate you guys. Quit doing that.’ And sometimes they say, ‘We hate you.’ Then you take a note and say, OK, how much of that can we live with? How much ‘we hate you’ is OK. And when does it go over the line? “I see a lot of companies making decisions which, objectively speaking, I don’t know what the dollar end of that was for you, Mr. Company, but your brand value just dropped 30 percent. So I hope it was worth it.” Of course, shifting to a digital-only model for games raises other issues beyond simply wanting to collect. The biggest is ownership. Layden pointed out that once you go to a streaming-only or download-only model, it’s just a digital footprint on a hard drive. “What does ownership mean anymore?” he said. “It’s a genuine question. Well, in fact, it’s not even a question anymore. It’s like you are shifting the model from ownership to accessibility. “And what’s always been true, which people forget, is you’ve never been able to sell your iTunes library. And you can’t sell your PlayStation download library. So if you can’t resell it, do you really own it?” The touching tribute found in the credits for Star Wars Zero Company. Resonance: A Plague Tale Legacy Interview and Hands-On with a Minoan Masterpiece Star Wars Zero Company hands-on: Attack Astromechs, permadeath, and delightfully fatal Rube Goldberg tactics Control Resonant opens up as you get stronger — and as characters start trusting you
Commentary: Teen-safety settlement is Meta’s shrewd move to hurt competitors
The headlines this week wrote themselves: Meta, humbled at last, agrees to pay up to $17.1 billion and accept the strictest limits ever imposed on teenage social media use. A
Official | Saint-Étienne forward Djylian N’Guessan joins Liverpool
Liverpool FC have reached an agreement with AS Saint-Étienne regarding the transfer of Djylian N’Guessan (18).The young striker will officially join the Reds during the upcoming winter transfer win...
PSG release midfielder with 32 Portugal caps
PSG mutually agreed with Renato Sanches to cancel the midfielder’s contract as his disaster move to Paris comes to an end.If you enjoy PSG Talk coverage and want to see more of it, add us as a prefe...
Why Atletico Madrid ended their interest in Nicolas Gonzalez
Nicolas Gonzalez enjoyed a successful loan spell at Atletico Madrid from Juventus last season, with the Spanish side having a pre-agreed option to sign him permanently at the end of the loan spell.How...
No license, no inspection, no accountability — who is protecting women?
In early August, Massachusetts Gov. Maura Healey signed into law expansion of abortion from 24 weeks through the entire pregnancy. While many celebrated, Colorado serves as a staunch warning of the unintended consequences of unrestricted, unregulated abortion. Whether pro-life or pro-choice, Coloradans agree women deserve high-quality, safe, compassionate care. Colorado voters mistakenly believed a constitutional right to […]
Judge Ends Federal Oversight of Teamsters
The union and federal prosecutors agreed that organized crime groups had been rooted out of union operations, the judge wrote.
Obano to put England career on hold with Pau move
Beno Obano will become the latest England player to put his Test career on ice after agreeing to join French side Pau at the end of the forthcoming season.
Kevin O'Leary Says Zohran Mamdani's Biggest Advantage Comes Down to This 1 Hire
While the 'Shark Tank' star may disagree with the New York City mayor's politics, he says he supports one part of his strategy.
Scientists Find More Than 1,000 DNA Variants Linked to Personality Traits
More than one million genomes helped identify DNA variants linked to extroversion, agreeableness, neuroticism and more. Researchers measured how those traits influenced how people lived.
Billionaire investor Leon Black sues and declines to testify in House committee’s Epstein investigation
Billionaire investor Leon Black is suing the House committee investigating Jeffrey Epstein to try and block the panel from obtaining his non-disclosure agreements and testimony.
Dueling health priorities
As Republicans and Democrats hone their messaging ahead of the midterms, both parties agree the U.S. health care system needs an overhaul. But they’re pitching very different policies to achieve that.
Following Nintendo's example, Sony and Microsoft argue they have no obligation to pass tariff refunds onto customers
Microsoft, Sony and Nintendo are in agreement that you shouldn't expect refunds for paying extra for their products as a result of US tariffs.
Gov. Sherrill, 17 state employee unions reach deal to freeze health benefit contribution increases in 2027
TRENTON, N.J. — Gov. Mikie Sherrill and 17 unions representing New Jersey state employees have reached an agreement that will waive increases in employee health benefit contribution rates in 2027 …
Frontier Developments announces collaboration with Disney for new game
Frontier Developments has entered into an agreement with Disney to develop and publish a new game that draws on Disney’s portfolio of intellectual property, the company announced.
Farm features Charlie Kirk in corn maze. Here’s how the business responded to criticism
Goebel Farms said it chose to honor Kirk because he believed that disagreement should lead to conversation, not violence.
Farm features Charlie Kirk in corn maze. Here’s how the business responded to criticism
Goebel Farms said it chose to honor Kirk because he believed that disagreement should lead to conversation, not violence.
Farm features Charlie Kirk in corn maze. Here’s how the business responded to criticism
Goebel Farms said it chose to honor Kirk because he believed that disagreement should lead to conversation, not violence.
Man arrested on three warrants for deceptive business practice
EL PASO, Texas (KTSM) — A 65-year-old man was arrested on three counts of deceptive business practices after allegedly taking an initial payment and not completing agreed-upon work, according…
Sherrill, 17 state employee unions agree to waive 2027 health contribution increases
Gov. Mikie Sherrill and 17 unions representing state employees have agreed to waive higher health benefit contribution rates in 2027 while launching a
Appeals court rejects CDOT employee’s discrimination, retaliation claims
Colorado’s second-highest court agreed last week that a Colorado Department of Transportation employee had not shown that his employer discriminated and retaliated against him due to his religion and national origin. Ayman Salloum, who described himself as a 70-year-old Muslim immigrant from Jordan, was an environmental protection specialist at CDOT in December 2024. That month, […]
Governor Sherrill and 17 State Employee Unions Reach Agreement to Launch Comprehensive State Health Benefits Program Reform Effort
FOR IMMEDIATE RELEASE September 2, 2026 Governor Sherrill and 17 State Employee Unions Reach Agreement to Launch Comprehensive State Health Benefits Program Reform Effort Agreement waives higher health benefits contributions in 2027 for State employees and launches a joint effort to make benefits more affordable and sustainable TRENTON – Governor Mikie Sherrill and 17 unions representing state employees today[...]
For Sustained Soil and Water Health, Farmers Are ‘Playing the Long Game’
With the help of farmers like Kristin Duncanson, the AGree Coalition is proving that regenerative farming is key to a more resilient U.S. agriculture system
Luk Hing Entertainment Group Announces Termination Of Subscription Agreement
Luk Hing Entertainment Group Holdings Ltd HKEX:8052:
Would You Quit a Show Because of Your Co-Star’s Politics?
Most of us have worked with people we disagree with. But what happens when those beliefs feel less like a political difference and more like something that could directly harm you or your family? Where do you draw the line?
NHL, Prime Video strike local streaming deal for 6 teams
The multiyear agreement makes Prime Video the exclusive local streamer for the Ducks, Hurricanes, Blue Jackets, Stars, Wild and Blues.
Tiger Woods pleads no contest to reckless driving charge
Woods appeared in a courtroom in Martin County, Florida, where he agreed to the reduced charge.
Sanford Health, North Memorial Health finalize partnership
As part of the agreement, Sanford Health has committed to investing more than $600 million to meet evolving healthcare needs in Minnesota, including a $500 million expansion of Maple Grove Hospital and a $100 million modernization of Robbinsdale Hospital.
Chevron expands Venezuela position, to invest $7 billion in next five years
Chevron said on Wednesday it had agreed with Venezuela on updated terms for its joint ventures in the country and plans to invest more than $7 billion over the next five years, targeting production of about 600,000 bpd.
Corpay (CPAY) Simplifies Its Business As Profits Take A Hit
On August 5, Corpay (NYSE:CPAY) delivered two headlines in one breath. The corporate payments company reported second-quarter results that beat its own targets, and it agreed to sell a UK fleet software business it no longer sees as core. Revenue climbed 21% to $1,338.8 million and adjusted earnings per share jumped 36% to $7.00, yet […]
Jumpgate signs fully funded SEK 26.7 million publishing agreement with Daedalic Entertainment for new major strategy game
Jumpgate AB has entered into a publishing agreement with German publisher Daedalic Entertainment for the development of a new major strategy game for PC and consoles, based on a well-known IP with the project name “Galactic Exploration”. The game has a total development budget of approximately SEK…
Balogun drama ends with Everton transfer falling through
A timeline of the failed transfer as the USMNT international walks away despite an agreement between Everton and Monaco
Another accused killer released from Virginia mental health facility after insanity plea
The Commonwealth's Attorney's Office agreed to the release of another man accused of murder after another accused killer fled the U.S. on a weekend pass from a Fairfax County mental health facility.
Kroenke to buy baseball's Los Angeles Angels: statement
US billionaire Stan Kroenke on Tuesday agreed terms to buy the Los Angeles Angels baseball team, adding to his sports franchise empire that already includes the NFL's Los Angeles Rams and the English Premier League's Arsenal.The Angels play in Anaheim, a city near Los Angeles, and were previously owned by the Walt Disney Company.
LA Rams owner Kroenke reaches agreement to buy Angels
Kroenke Sports & Entertainment ("KSE") today announced that it has entered into a definitive agreement to acquire a controlling interest in the Los Angeles Angels Baseball Club from the Moreno family. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions and approval
Kroenke Sports and Entertainment says it has reached an agreement to buy the Los Angeles Angels from Arte Moreno
Kroenke Sports and Entertainment says it has reached an agreement to buy the Los Angeles Angels from Arte Moreno
Kroenke Sports and Entertainment says it has reached an agreement to buy the Los Angeles Angels from Arte Moreno
Kroenke to buy controlling interest in Angels from Moreno
Stan Kroenke has reached an agreement to acquire controlling interest in the Los Angeles Angels from Arte Moreno.
Kroenke Sports & Entertainment announces agreement to buy Angels
Kroenke Sports & Entertainment announced Tuesday that it has entered into an agreement to acquire a controlling interest in the Los Angeles Angels. In a news release issued Tuesday, the ownership group said the deal with the Moreno family is expected to close early next year. The transaction would require approval from Major League Baseball. The Kroenke-affiliated group also owns…
Kroenke Sports & Entertainment announces agreement to buy Angels
Kroenke Sports & Entertainment announced Tuesday that it has entered into an agreement to acquire a controlling interest in the Los Angeles Angels. In a news release issued Tuesday, the ownership group said the deal with the Moreno family is expected to close early next year. The transaction would require approval from Major League Baseball. The Kroenke-affiliated group also owns…
Man City agree joint British record Enzo Fernandez move
Chelsea have agreed to sell midfielder Enzo Fernández to Manchester City for £125 million ($169 million), as Mykhailo Mudryk and Tosin Adarabioyo prepare to make deadline-day moves to rivals Tottenham. With the 11 pm (2200 GMT) deadline fast approaching, the Press Association understands a British record-equalling deal has been struck to take the Argentina international to the Etihad Stadium.
'Agreed a £3m deal' - Anthony Joseph Drops Celtic Transfer News
Anthony Joseph has confirmed that Celtic have agreed the £3 million deal on what is deadline day for English clubs.
ESPN Unlimited now fully integrated into YouTube TV
At long last, the partnership between ESPN and YouTube TV has reached its final form. About 10 months since Disney and YouTube TV finalized a new distribution agreement following fraught negotiations that kept Disney-owned networks blacked out on YouTube TV for weeks during the heart of football season, the moment YouTube TV subscribers have all…
Nestle to divest mainstream supplements business for $1 billion
Nestle said on Tuesday it has agreed to divest its mainstream vitamins, minerals and supplements business to U.S.-based Yellow Wood Partners for $1 billion.
Yellow Wood Partners Agrees to Acquire Nestle's Holistic Health Platform of Leading Vitamins, Minerals and Supplements Brands
/PRNewswire/ -- Yellow Wood Partners ("Yellow Wood"), a private equity firm focused exclusively on investing in consumer brands and companies, today announced...
Nestle to divest mainstream supplements business for $1 billion
Nestle on Tuesday agreed to divest Holistic Health platform, its mainstream vitamins, minerals and supplements (VMS) business, to private equity firm Yellow Wood Partners for $1 billion, according to a statement from the two companies.
Kustom Entertainment to Acquire TFL, Expanding Integrated Live Event Ticketing and Festival Platform
Kustom Entertainment announced the acquisition of TFL, enhancing its ticketing capabilities and expected to boost revenue and profitability immediately.Quiver AI SummaryKustom Entertainment, Inc. announced its acquisition of TFL, LLC, a leading ticketing distribution and live event technology platform, through a definitive Unit Purchase Agreement. This strategic move is expected to enhance Kustom's festival production capabilities by combining it
Kustom Entertainment, Inc. Enters Into an Agreement to Acquire TFL, LLC (dba Tickets For Less)
Transformational Acquisition is Expected to Combine Kustom’s Music Festival Platform with Ticketing & Distribution Engine; Expected to be Immediately...
Kroenke Sports & Entertainment to Acquire the Los Angeles Angels of Anaheim
Kroenke Sports & Entertainment ("KSE") today announced that it has entered into a definitive agreement to acquire a controlling interest in the Los Angeles Angels Baseball Club from the Moreno family. The transaction is expected to clos
Indiana hospitals end routine ambulance diversion
Indiana hospitals and emergency medical providers entered into an agreement with the Indiana Department of Health Monday to stop directing ambulances to other facilities when emergency departments become overcrowded.
Oil, the most sensitive issue in Venezuelan politics
The agreement announced by Donald Trump has sparked widespread unease in a country with a deeply rooted sense of ownership over its natural resources
Trump: 90% of prescription drugs covered by 'most favored nation' price deals
Several of the companies that agreed to lower drug prices also announced U.S. research and development investments Monday
Lebanon asks Greece to help enforce agreement with Israel
After Greece agrees to Israeli weapons deal, Joseph Aoun asks Athens to help advance US-brokered framework agreement.
Liverpool complete £106m Bradley Barcola signing from PSG
Liverpool have completed the signing of Bradley Barcola from Paris Saint-Germain in a deal worth an initial £106million (€125m), ending their long pursuit of the France international.The agreement ...
Lithium stakeholders announce $1.5 billion deal
Smackover Lithium, a partnership between Standard Lithium Ltd. and Equinor ASA announced Monday (Aug. 31) the signing of its second commercial offtake agreement for the South West Arkansas Project (SWA...
Lithium stakeholders announce $1.5 billion deal
Smackover Lithium, a partnership between Standard Lithium Ltd. and Equinor ASA announced Monday (Aug. 31) the signing of its second commercial offtake agreement for the South West Arkansas Project (SWA...
HSV set for big win in Arsenal transfer talks
Hamburger SV are in talks to buy Fabio Vieira from Arsenal for around €10m, though a deal still hasn’t been fully agreed at this stage.Photo by Alex Pantling/Getty ImagesSami Mokbel reported for t...
Letters: Are quiet land deals and NDA agreements just business as usual now?
“They’re free to turn me in to the ethics board, which I’m sure would do nothing.”
Trump says Venezuelan oil will lower gas prices. Analysts disagree.
Analysts say Venezuela needs years of investment to boost oil production, and that 65 billion barrels won't materialize overnight.
Philippines’ richest billionaire agrees to buy African port operator spanning three countries
Enrique Razon-controlled ICTSI has agreed to acquire an African port operator with businesses in South Africa, Mozambique and Namibia
Patriots agree to trade with Vikings for veteran offensive lineman
The New England Patriots reportedly agreed to a trade with the Minnesota Vikings for offensive tackle Walter Rouse.
Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices
Hey all, Jason here. When this hits your inbox, I should be en route to the airport — not to go anywhere myself, just to pick up my better half. I must admit, it’s been strange to be home alone (well, with two dogs) for two weeks! Really lets me “optimize” to spending more time on reading/writing/working, whether that’s healthy or not! Looking forward to getting back into a (somewhat) more balance routine. Subscribe or Support by Upgrading Compare Notes With the People Who Built Modern Fintech Partner content: Remitly CEO Sebastian Gunningham. Increase founder Darragh Buckley. Linda Du, Co-founder & President at Valon. They’ll unpack the decisions behind building and scaling major financial products: what they got right, what broke, what they would do differently, and how AI and new infrastructure are changing the operator playbook. Most events tell you where fintech is going. NerdCon puts the people who built the present in the room and asks them what comes next. Expect an operator-led conversation grounded in real products, real trade-offs and lessons earned the hard way. Fintech Business Weekly readers save 20% on Regular tickets with code FBW20 before standard pricing ends September 11. Meet the Builders Things To Know & Other Good Reads Advent and Stripe Abandon $50 Billion Pursuit of PayPal (Bloomberg) Trump Family’s New Crypto Bank Is Backed by Abu Dhabi Sheikh (Wall Street Journal) The multiplying risks of financing data centres (FT) Let the Bond Market Speak (Wall Street Journal) Did we waste a crisis? Modest proposals to reform deposit insurance. (Fintech Takes Banking) Untangling Guggenheim: How Private Credit Built Its Own Universe (Net Interest) The Hater’s Guide To Circular Financing — Part One (Ed Zitron) Fiat Ventures Rebrands to FGV Capital, Announces $35M Oversubscribed Fund II (BusinessWire) Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity (Socure) Listen: When Consumer Protection Disclosures Work Too Well (Consumer Finance Monitor Podcast) Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices When Andreessen Horowitz led EarnIn’s $39 million Series B in 2017, Alex Rampell, a partner at the storied venture capital firm, described EarnIn’s small-dollar advance product as “free,” relying on “entirely on voluntary contributions instead of fees.” Rampell favorably compared EarnIn’s approach to typical payday loans, writing, “Payday loans historically have had the potential to be a slippery slope for consumers into financial distress: opaque systems and steep fees that are hard to repay and set individuals back further than where they started. For many Americans living paycheck to paycheck, that kind of slide into debt can be extremely difficult to recover from.” But EarnIn’s product — which, the company says, isn’t a “loan,” legally speaking — ends up being anything but free for most users. While it is technically possible to take a no-fee advance from the company, most users incur “Lightning Speed” (instant funding) fees and/or ostensibly optional tips that combined can equate to annualized percent rates that can reach over 1,000%. With an average term of 9.77 days, even fees and tips that are small on an absolute dollar basis are equivalent to high APRs on an annualized basis. A lawsuit filed last week by Colorado Attorney General Phil Weiser against EarnIn describes the company and its product and business practices quite differently than Andreessen’s Rampell; “EarnIn’s business practices are unfair because they are immoral, unethical, oppressive and unscrupulous,” the complaint, filed in District Court in Denver, Colorado, says. EarnIn’s marquee product, Cash Out, isn’t a loan, the company says, as Cash Out is not “[f]orward [l]ooking” because “[t]he money is transferred based on earnings to date,” does not carry a mandatory fee to access funds, and is “non-recourse,” meaning EarnIn cannot pursue recovery from users who don’t repay advanced funds. EarnIn is sometimes referred to as an “Earned Wage Advance” service. Though, unlike some others in the broader category, EarnIn does not integrate with employers’ payroll or time and attendance systems. Rather, EarnIn attempts to verify a user’s income and employment, by examining direct deposit transaction data in their linked external bank account, by using GPS location and Bluetooth data to estimate a user’s time spent at work, if they work in a fixed location, and/or by having a user provided a work email address. While repayment is theoretically optional, as EarnIn would have no recourse, such as reporting non-payment to the credit bureaus or a collections agency, this is anything but clear to users of the EarnIn app, Colorado’s complaint argues. During the process of taking a Cash Out, users must agree to a preauthorized debit of the amount advanced, plus any expedited funding fee and/or tips. Though users technically can revoke this ACH authorization, the fact that they have this right isn’t presented to users during the Cash Out process, but rather is included in linked terms and conditions few users are likely to actually read. And users who do wish to revoke their ACH authorization must do so three or more days before the scheduled transaction date by emailing EarnIn’s customer support. Similarly, EarnIn’s marketing claims that it carries “no interest” and “no mandatory fees” is technically true, but is not the reality for many of the app’s users, the Colorado complaint argues. Further, EarnIn has extensively marketed to users the ability to “access your pay today,” to get “instant” funds, and to get funds “the same day you work” — when, in reality, this speed of access was only possible by paying the additional, undisclosed Lightning Speed fee. The Colorado complaint highlights this contradiction specifically, noting: EarnIn tells consumers that they can ‘Make any day payday with EarnIn’ and that there no ‘hidden’ or ‘mandatory fees.’ For a consumer to access their pay on the same day requested, they would have to pay the Lightning Speed fee. In the fine print of the advertisement EarnIn discloses that ‘[f]ees apply to use Lightning Speed,’ a direct contradiction to the larger text of the advertisement, and a fact that would not be immediately understood by a consumer as ‘Lightning Speed’ is not defined nor explained. Like other small-dollar lending services, rather than explicitly charge interest, EarnIn collects a markup on the optional Lighting Speed fee, which, given the nature of the transactions, many users opt for, as well as offering users the option to leave “tips.” EarnIn leverages either Real-Time Payments (RTP) rails or push-to-card via debit rails if a user opts for the optional Lightning Speed. But while these capabilities cost EarnIn, on average, $0.075 or $0.20 per transaction, respectively, EarnIn charges users significantly more. Initially, EarnIn charged as little as $1.99 for Cash Outs up to $24. But EarnIn has hiked these fees multiple times, and now charges $4.99 for Cash Outs up to $75 and $6.99 for those over $75. According to the Colorado complaint, EarnIn leverages “dark patterns” to manipulate users and to make it more difficult to avoid tipping. Examples of these “road blocks” highlighted in the complaint include: As of 2023, in the EarnIn app, a consumer attempting to get a loan under the default settings had to make at least eighteen separate taps to complete the transaction and reduce the tip to $0. There is an alternative method to leave a $0 tip, via the “Custom tip” feature, but EarnIn made this option difficult to access by visually deemphasizing it and positioning it near devices’ “home” button. Using language and imagery such as “Tip to pay it forward,” “Your generosity supports the service + helps,” “Your tips make a difference,” and “[t]he APR for this cash out is 0%. Your tips help support us.” While Lightning Speed and tipping are, in theory, both optional, in practice, users nearly always ended up paying something. According to the Colorado suit, users were charged either a tip or an expedite fee for more than 92% of transactions, with an average APR of nearly 388%. And, although the advances are “non-recourse,” EarnIn successfully collects on nearly all transactions — 99.18%, according to the complaint, which, Colorado argues, “demonstrat[es] that EarnIn’s advances function as high cost loans, not voluntary payments.” The share of EarnIn users incurring fees — despite the product being marketed as 0% APR — is hard to reconcile with Andreessen investor Rampell’s favorable description of EarnIn vs. “opaque systems and steep fees” associated with payday loans, which, Rampell says, can be “extremely difficult” for borrowers to extricate themselves from. According to Colorado’s suit, EarnIn’s Cash Out product “trapped many consumers in extreme cycles of high-cost reborrowing.” The suit gives an example of one consumer in the state, who took out a whopping 1,151 loans, paying a total of $4,038.50 in Lightning Speed expedited funding fees on loans that averaged the equivalent of 1,421% APR. Another Colorado user, the suit says, took out 1,033 loans, paying $8,561.22 in tips and fees at an average APR of 1,539% . These types of usage patterns demonstrate “the severe and repeated financial harm caused by EarnIn’s illegal lending model,” the Colorado complaint argues. In aggregate, from January 2023 through July 2025, EarnIn extended 3.1 million loans to 56,778 users in Colorado — an average of nearly 55 transactions per person during the time period. EarnIn lent more than $300 million and collected more than $16 million from Colorado users in Lightning Speed fees and in tips. Ultimately, the Colorado complaint argues that “EarnIn’s Cash Outs are loans under Colorado law, and EarnIn’s contention that its product is not a loan based on its disclaimer of any legal repayment obligation lacks any real-world significance given how the Cash Out transactions actually operate in practice.” Colorado further argues that “EarnIn was not working with companies here in providing consumers with funds but acted as a third-party lender and charged illegally high rates, used deceptive design strategies to extract some charges, and trapped consumers in repeat borrowing. Colorado will continue to stand up for consumers and hold companies accountable when they violate our credit laws or attempt to evade them through misleading practices.” Colorado’s suit alleges EarnIn assesses finance charge in excess of that permitted by Colorado law, that EarnIn failed to make legally required disclosures to Colorado borrowers, that EarnIn made supervised loans to consumers without obtaining the requisite license, that EarnIn violated the state’s Deferred Deposit Loan Act, that EarnIn engage in unfair and deceptive trade practices, and that EarnIn made false or misleading statements concerning price. The suit seeks a court order enjoining EarnIn from violating relevant Colorado laws, for EarnIn to refund amounts charged in excess of state law, fees, costs, and penalties, and other relief the court deems to be just. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Q2 Quarterly Banking Profile: Five Quick Takeaways The FDIC released its quarterly banking profile, which is always worth a read, for the second quarter. The profile provides an aggregate snapshot about the overall health of the 4,238 institutions whose deposits are insured by the FDIC, who, collectively, hold more than $26 trillion in assets and saw a total net income of more than $90 billion in the second quarter. Net income was up 12% vs. Q1 2026, with lower provisions and realized gains on securities helping to drive the improvement, somewhat offset by increases in non-interest expense and applicable income taxes. Overall net interest margin was basically flat quarter over quarter (up 1 basis point vs. Q1 2026), though community banks saw NIM grow by 10 basis points, to 3.81%. Unsurprisingly, given that interest rates haven’t changed, unrealized losses on securities changed little, edging up slightly to $326.7 billion vs. $325.1 billion in Q1 2026. Aggregate credit quality has remained benign, with asset quality actually improving slightly in Q2. Overall, institutions reported a 9 basis point decline in their past-due and non-accrual rate, to 1.44%. Net charge off rate also declined by 2 basis points, to 0.57%. And finally, the FDIC’s deposit insurance fund stands at $161.1 billion, making the DIF reserve ratio 1.48% — above the statutory minimum of 1.35%, but still below the designated target reserve ratio of 2%. [Paid Subscriber Exclusive] Nissan Withdraws ILC App, State Associations Plan BankChain Alliance, FDIC Defines “Unsafe or Unsound Practice” For First Time Automaker Nissan withdrew its application to charter a Utah industrial loan company and its corresponding application to the FDIC for deposit insurance last week, on August 19th. Nissan’s application had been outstanding for more than a year, as it originally applied in June 2025. Recent applications to the OCC to form national banks have been decisioned, one way or the other, substantially more quickly than has historically been the case.
Moulton says Sen. Markey, 80, is too old for another term. Young Massachusetts Democrats are divided
Young Massachusetts voters agree that 80-year-old U.S. Sen. Ed Markey stumbled when asked during a debate how he uses artificial intelligence
Moulton says Sen. Markey, 80, is too old for another term. Young Massachusetts Democrats are divided
Young Massachusetts voters agree that 80-year-old U.S. Sen. Ed Markey stumbled when asked during a debate how he uses artificial intelligence.
RB Leipzig set to sign Morocco international from Roma
RB Leipzig have agreed a deal to sign Neil El Aynaoui on loan from AS Roma, according to Sky Germany.The two clubs reportedly reached a verbal agreement on Saturday night, with Leipzig set to pay €4...
Trump’s Oil Deal Riles Both Sides of Venezuelan Politics
Venezuelan hard-liners and opposition forces alike criticized acting President Delcy Rodríguez for agreeing to grant the US exclusive access to the country’s
Minnesota Timberwolves Facilitate Trade to Finalize Jonathan Kuminga Signing
The Minnesota Timberwolves have found the financial solution needed to make Jonathan Kuminga’s arrival official. Minnesota agreed Friday night to […]
Jaguars make trade, acquiring quarterback from 2025 draft class
The Jaguars and Dolphins agreed to a trade Saturday.
Blackhawks agree to 2-year contract with defenseman Kevin Korchinski
The Chicago Blackhawks have agreed to a two-year contract with defenseman Kevin Korchinski. Chicago announced the deal with the restricted free agent on Saturday. The 22-year-old Korchinski posted two assists in 13 games with the Blackhawks last season.
Oil deal with US is denounced by both sides of Venezuelan politics
Opposition said agreement with Trump administration was potentially illegal while government hardliners cast it as a betrayal
Healthcare workers call for new labor agreement prior to deadline
13WHAM ABC Rochester provides local news, weather forecasts, traffic updates, health reports, notices of events and items of interest in the community, local sports and entertainment programming for Rochester and nearby towns and communities including Greece, Victor, Pittsford, Penfield, Henrietta, Webster, Irondequoit, Fairport, Chili, Gates, Rush, Wheatland, Canandaigua, Farmington, Spencerport and Hilton.
What we know about Trump's deal giving U.S. access to vast oil reserves in Venezuela
The answers to questions such as how soon the reserves could be drilled and who will pay to make it happen were not immediately clear. No text of any agreement has been released.
The coming election and mischief in the making
America’s tribalism is such these days that we struggle to even agree on the basic rules. Elections have always been hotly contested. As the saying goes, “Politics ain’t beanbag.” The process has long involved elements of nastiness and underhanded conduct. Still, we used to be able to take some things for granted. We had a […]
Jonathan Kuminga’s Agent Defends Reason For Taking Shorter and Cheaper Deal With Timberwolves
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Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.
Measles deaths reported in Pennsylvania spark fight among politicians and health officials
NEW YORK — The recent announcement of Pennsylvania’s first measles-related deaths in decades has ignited a public feud among politicians and health officials who disagree over the role of the contagious disease in the fatalities.
Measles deaths reported in Pennsylvania spark fight among politicians and health officials
The recent announcement of Pennsylvania’s first measles-related deaths in decades has ignited a public feud among politicians and health officials who disagree over the role of the contagious disease in the fatalities
Trump announces ‘biggest oil deal in world history,’ says it will substantially lower gas prices
Trump announces a major oil deal with Venezuela, saying the US secured majority control of 65 billion barrels and the agreement will lower gas prices.
Measles deaths reported in Pennsylvania spark fight among politicians and health officials
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Lawmakers walk out during Wyoming Business Council reform talks
Though two separate legislative committees each found agreement, some objected to mixing committee duties.
Foster Fuels to be acquired by Ga. company
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Minnesota attorney general allows out-of-state acquisition of North Memorial Health
South Dakota-based Sanford Health may move forward in acquiring North Memorial Health next month after the hospital systems signed a 10-year oversight agreement with the Minnesota Attorney General’s Office. As part of the agreement, Sanford committed to maintaining hospital and emergency services at North Memorial’s Robbinsdale hospital, which is the health system’s flagship safety net […]
Minnesota AG announces 10-year oversight agreement in North Memorial Health, Sanford Health merger
Minnesota AG announces oversight deal allowing North Memorial-Sanford Health merger to advance
Terms of the agreement include $600 million in investments in North Memorial’s Maple Grove and Robbinsdale hospitals, and maintaining the Level 1 trauma center in Robbinsdale for at least 10 years.
AG Ellison clears Sanford Health-North Memorial merger after oversight agreement
Minnesota will allow Sanford Health’s merger with North Memorial to move forward after they agreed to a 10-year oversight agreement, Attorney General Keith Ellison announced Friday morning.
Arsenal Facing Painful Blow as Martinelli Transfer Takes Major Turn
Gabriel Martinelli is closing in on a move from Arsenal to Saudi Pro League club Al Hilal after giving the green light to the transfer, according to journalist Fabrizio Romano. The Arsenal winger has agreed to the move as both clubs work through the final stages of negotiations. Romano reported on Friday: “Understand Gabriel Martinelli […] The post Arsenal Facing Painful Blow as Martinelli Transfer Takes Major Turn appeared first on HEAVY.
Minnesota AG gives green light to Sanford Health merger with North Memorial
The attorney general’s blessing is seen as the last regulatory hurdle to a deal in which the South Dakota-based system agrees to maintain Robbinsdale hospital for at least a decade.
Missouri announces jersey patch sponsorship deal with Ambetter Health
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Cyabra Secures Six-Figure Annual Contract with Leading Interactive Entertainment Company to Protect its Player Community
Agreement with a major publisher in the interactive entertainment industry expands Cyabra's private-sector footprint and reflects growing enterprise demand for evidence-based analysis of coordinated online activity. New York, NY, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Cyabra, Inc. (Nasdaq: CYAB) (“Cyabra” or the “Company”), an artificial intelligence (“AI”)-powered platform that helps governments and enterprises detect coordinated manipulation and protect digital trust, announces a six-figure annual
Tampa approves $80 million in funding for Tampa Bay Rays ballpark
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Florence Harding Photographed Taught Me About Women Partaking in Politics
What would Florence Kling Harding think now? A week or so ago when I cast my ballot at my designated polling place this thought crossed my mind. I imagine the former first lady would be pleased about how routine voting has become for women in the United States. But perhaps she would not be satisfied. Today, a published essay I wrote for In Pursuit spotlights a lesson in leadership demonstrated by First Lady Florence Harding. In my research, I discovered there’s a lot to be said about this strong female historic figure. But it was the blurry photograph capturing Mrs. Harding voting for her husband Warren G. Harding, one of two presidential candidates from Ohio, on Nov. 2, 1920—Election Day—that drew my attention. It was the first presidential election held in the United States after the ratification and certification of the 19th Amendment, granting women the right to vote. Its 106th anniversary was marked on Wednesday. I remember thinking what a shame it was that her presence in the image was imperfect while the mostly men surrounding her were in sharp focus. Perhaps cynically I thought, “No surprise!” On further examination, though, the clear reaction of the people surrounding Mrs. Harding was equally important. In that snapshot of time, many of their expressions were serious. One man stood elevated above the rest with a slight smile as he caught a glimpse of history. Mr. Harding hovered over his wife’s shoulder closely observing the last seconds of her vote being cast. Their gazes were locked in on who would hours later become first lady. Subscribe The attention she drew is worth noting, mostly because, as I learned, Mrs. Harding understood the power her image could have on women across the country. She and I share in common a career in newspapers—hers the business side and mine on the editorial side. Nevertheless, it became clear to me as I write in the essay that she understood if she was seen voting, other women would follow suit. That wouldn’t necessarily be the case in that 1920 election, though, Karen Kedrowski, the director of the Carrie Chapman Catt Center for Women and Politics at Iowa State University, explained to me. Florence Harding was a suffrage advocate. But, suffrage was a contentious issue and women were far from united at the time of the election. In fact, a substantial number of women and active anti-suffrage organizations thought women participating in elections was a “bad idea and antithetical to their roles in the private sphere as mothers and homemakers,” Kedrowski said, adding that women were also viewed as the moral compass for their husbands and sons. If women got involved in politics they would become contaminated by it. Suffragists, on the other hand, wanted to bring that moral presence into politics to help clean things up. Only about 30% of women voted in that 1920 presidential election. That was a start. More than 100 years later in the 2024 presidential election, 66.9% of eligible women voted (91.3 million), compared to 63.7% of men who voted (82.6 million), according to the League of Women Voters. Yes, Florence Harding would be pleased. Subscribe That imperfect Election Day image was important symbolism about women’s potential during what was known as the “Modern Woman” era and the growing public role women were taking in the 1920s. I imagine Florence Harding might agree with other succeeding first ladies when it comes to gender equality and the importance of the vote. Like Michelle Obama when she said in her memoir Becoming, “We all play a role in this democracy. We need to remember the power of every vote.” Or Hillary Clinton during her unsuccessful run for president in 2016 when she remarked on International Women’s Day: “We celebrate the progress we’ve made to advance the full participation of women in economies and societies. And most importantly, we recommit to finishing the unfinished work that remains …” I hope if you are reading this, you will also read my essay on Florence Harding’s leadership lesson for In Pursuit. And perhaps that will move you to dig deeper and read more about Florence Harding’s life circumstances in biographies like First Lady Florence Harding: Behind the Tragedy and Controversy by Katherine A. S. Sibley. No, I do not think Florence Harding would be satisfied despite how far women have come from that day she first entered her polling place. She once wrote to the Camp Fire Girls, “The part that women play in the world has been greatly changed … It has been broadened and enlarged …” It has. And as women continue to engage in civics it continues to be. I imagine Florence Harding would want women to keep meeting the moment. Read the In Pursuit essay Watch on C-SPAN Share East Wing Magazine is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber. Subscribe
Coalition drops Colorado transportation ballot measure after securing deal
The proposed constitutional amendment seeking to dedicate all transportation-related revenue to Colorado’s roads and bridges will no longer appear in this November’s ballot after its proponents reached an agreement with lawmakers following months of negotiations. Initiative No. 175, backed by the coalition Restore Our Roads, would have required that all transportation-related revenue be used exclusively […]
Historic Meta Settlement Mandates Safer Social Media For Youth
Following a landmark agreement in the United States on Wednesday, social media giant Meta agreed to pay up to $18 billion to US states. This historic