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Moderna has agreed to pay up to $2.25 billion to Genevant Sciences (a Roivant Sciences subsidiary) and Arbutus Biopharma to settle a patent dispute over the lipid nanoparticle technology used in its COVID-19 vaccine. The settlement includes $950 million payable in July 2026, with an additional $1.3 billion contingent on a separate legal appeal outcome.

• The upfront payment of $950 million is scheduled for July 2026, with the remaining $1.3 billion dependent on ongoing legal proceedings
• The dispute centered on technology that was essential to making Moderna's COVID-19 vaccine possible, specifically lipid nanoparticle delivery systems
• The settlement resolves a long-running legal battle between Moderna and the patent holders over vaccine technology rights

Ross Stores forecast annual sales above Wall Street expectations on March 3, citing strong demand for discounted apparel and accessories despite macroeconomic uncertainty. The off-price retailer is benefiting from value-focused shoppers seeking branded goods at lower prices amid persistent inflation and trade policy concerns.

• Ross expects annual same-store sales growth of 3% to 4%, exceeding analysts' estimate of 3.05% increase
• Off-price chains are attracting steady store traffic as shoppers turn to discount retailers for branded goods during inflationary periods
• The company's optimistic outlook reflects resilient consumer demand for value-oriented retail amid ongoing economic uncertainty

U.S. Commerce Secretary Howard Lutnick, Goldman Sachs' departing chief legal officer Kathryn Ruemmler, and Apollo Global Management co-founder Leon Black will testify before the House Oversight Committee regarding their connections to convicted sex offender Jeffrey Epstein. The testimony follows the Justice Department's January release of millions of new Epstein-related files. Lutnick, who faces bipartisan calls to resign, claims he had minimal contact with Epstein despite newly released documents suggesting more extensive ties.

• Lutnick previously claimed he 'barely had anything to do with' Epstein and exchanged only about 10 emails, but newly released documents show apparent contradictions with his prior statements; Epstein lived next door to Lutnick in New York
• Goldman Sachs announced Ruemmler's resignation effective June 30 after documents revealed she accepted gifts from Epstein and advised him on managing media inquiries about his crimes
• The committee is also seeking testimony from Bill Gates, former Epstein employees Lesley Groff and Sarah Kellen, and others connected to the disgraced financier; former President Bill Clinton already testified last week

U.S. banks are on heightened alert for potential cyberattacks from Iran-linked actors following the killing of Iranian Supreme Leader Ali Khamenei in an air strike. The financial services industry, which operates critical infrastructure including payments and Treasury markets, is stepping up monitoring amid concerns over geopolitical conflict-driven cyber threats. U.S. intelligence assesses that Iran-aligned hacktivists could conduct low-level attacks such as DDoS operations against American networks.

• Financial services was the top target of DDoS attacks in 2024, with geopolitical conflicts like Hamas-Israel and Russia-Ukraine wars fueling a surge in hacktivism, according to FS-ISAC.
• U.S. intelligence warns Iran-aligned 'hacktivists' could launch distributed denial-of-service (DDoS) attacks that overwhelm targeted servers with internet traffic.
• Credit rating agency Morningstar DBRS and investment bank Lazard both flagged elevated cyber risks, noting Iran's demonstrated willingness to deploy cyber capabilities against commercial targets including financial systems.

General Motors is restructuring its U.S. used-car sales operations by transitioning dealers from traditional certified pre-owned programs to its CarBravo online platform to better compete with digital sellers like Carvana. Starting in June, Chevrolet, Buick, and GMC dealers must use CarBravo to sell used GM vehicles with factory warranties, while the program will expand to include non-GM models and vehicles up to 15 years old.

• CarBravo has sold approximately 216,000 vehicles since launching in 2023, compared to Carvana's 596,641 vehicles sold in 2025, but GM reports faster sales rates despite fewer than 25% of its 3,500 U.S. dealers currently using the platform
• The expanded program will cover non-GM brands and older vehicles (up to 15 years old) with warranties, significantly broader than current certified pre-owned programs that typically only include GM vehicles up to 5 years old
• The move addresses affordability challenges in a market where 40 million used vehicles are sold annually compared to only 16 million new vehicles, with used-car buyers showing higher propensity to return for new vehicle purchases

Middle Eastern airlines are restoring capacity after recent conflict-related disruptions, while international carriers continue rerouting flights away from Gulf hubs. Major European and Asian airlines have extended flight cancellations to destinations including Tel Aviv, Dubai, Riyadh, and Beirut through May-October 2026. Some carriers are permanently reducing Middle East service while adding capacity to alternative routes in Europe, India, and Africa.

• Lufthansa Group, Air France-KLM, and British Airways have suspended most Middle East flights until May-October, with BA permanently dropping Jeddah and reducing Dubai, Doha, Tel Aviv, and Riyadh to single daily services
• Asian carriers including Cathay Pacific, Singapore Airlines, and Qantas are compensating by adding flights to European destinations (London, Paris, Rome) to meet surge in demand for rerouted travel
• Regional carriers El Al and Qatar Airways are expanding operations, with El Al flying to 40 destinations from April 27 and Qatar Airways planning over 150 destinations by June 16

Stripe's valuation reached $159 billion in a recent employee share sale, marking significant growth for the payment processing giant. The company reported robust profitability and announced its revenue suite is on track to hit a $1 billion annual run rate this year. Major existing investors including Thrive Capital, Coatue, and Andreessen Horowitz participated in the tender offer.

• Investors poured $274 billion into startups last year, the second-highest total on record, as U.S. venture funding rebounded strongly
• Stripe serves major clients including X (formerly Twitter), Amazon, Hertz Global, and Instacart, with 80% of the Nasdaq 100 index as customers
• Analysts note ample financing is allowing late-stage startups to remain private longer, providing an alternative to volatile public markets in early 2026

Databricks, a data analytics software company valued at $134 billion, has secured $1.8 billion in new debt financing, bringing its total debt access to over $7 billion. The company is preparing for a potential IPO in 2026 alongside other high-profile tech firms like Anthropic, Canva, and Stripe.

• Databricks raised over $4 billion in December 2024 at a $134 billion valuation, with $4.8 billion in annualized revenue growing at over 55% year-over-year
• The company reported positive free cash flow and subscription gross margin exceeding 80% in fiscal year 2025
• CEO Ali Ghodsi indicated the company would not rule out an IPO in 2026, positioning it among highly valued tech companies preparing to go public

Fitness tracking app Strava has confidentially filed for an IPO that could occur as soon as spring 2026, according to the Information. The San Francisco-based company was valued at $2.2 billion in a May funding round led by Sequoia Capital. The offering would provide an exit opportunity for longtime backers including Sequoia and TCV.

• Strava was valued at $2.2 billion in its May funding round led by Sequoia Capital, with participation from Jackson Square Ventures, TCV, and Go4it Capital Partners
• The IPO could launch as soon as spring 2026, coinciding with expected market improvements from anticipated rate cuts and stronger investor appetite
• Founded in 2009, Strava combines workout tracking with social networking, allowing users to monitor performance across multiple sports and set fitness goals

Discord, a chat platform founded in 2015 with over 200 million monthly active users, has confidentially filed for an IPO in the United States, according to Bloomberg News. The filing comes as the U.S. IPO market regained momentum in 2025 after nearly three years of sluggish activity, though recovery hopes have been tempered by tariff volatility and other economic uncertainties. Deliberations are ongoing and Discord could still decide not to proceed with the listing.

• Discord offers voice, video, and text chatting capabilities primarily aimed at gamers and streamers, serving more than 200 million monthly active users
• The U.S. IPO market rebounded in 2025 after three years of weak activity, but faces headwinds from tariff-driven volatility, government shutdowns, and AI stock selloffs
• The company filed confidentially and deliberations remain ongoing, with Discord emphasizing its focus on 'delivering the best possible experience for users and building a strong, sustainable business'

Nvidia CEO Jensen Huang will join President Donald Trump and over a dozen U.S. CEOs on a visit to China this week, according to sources. Huang was not on the initial White House list of executives, and Nvidia's H200 chips have not yet been sold to China due to difficulties obtaining permission from the Chinese government.

• Huang's participation was not included on the initial executive list provided by the White House earlier this week
• Nvidia's powerful H200 chips have not been sold to China, with a U.S. official citing difficulties getting Chinese government permission
• More than a dozen U.S. CEOs will accompany Trump on the China visit, though the White House has not commented on Huang's involvement

Security technology startup Verkada reached a $5.8 billion valuation after a $100 million funding round led by Alphabet's CapitalG. The investment comes as the company surpassed $1 billion in annualized bookings across 30,000 global customers. Verkada provides AI-powered physical security products including cameras, alarms, and sensors integrated under a cloud-based platform.

• The funding raised Verkada's valuation by $1.3 billion from its February Series E round, with proceeds used to enhance AI capabilities and provide liquidity
• Verkada recently rolled out over 60 AI features including an 'AI-Powered Unified Timeline' that synthesizes footage from multiple cameras and captures over 20 million images per hour
• CapitalG views physical security as a 'sleeping $60 billion market' dominated by legacy hardware, creating opportunity for AI-enabled cameras that 'think' rather than just record

Neuralink, Elon Musk's brain-implant company, plans to launch a clinical trial in October to help people with speech impairments translate their thoughts directly into text and voice. The FDA has granted Breakthrough Device designation to expedite the development of this speech application. The company has already implanted its device in 12 people worldwide, accumulating over 15,000 hours of use.

• The trial targets individuals who have lost the ability to speak, allowing them to bypass keyboards and convert imagined speech directly from brain signals to voice output
• FDA's Breakthrough Device designation for the speech application will accelerate development, assessment, and review processes
• Neuralink has implanted 12 people globally with over 15,000 hours of cumulative use, with the first patient already using it for gaming, internet browsing, and cursor control