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Bronzed: Germany overtakes Japan to become the 3rd largest global economy

Bronzed: Germany overtakes Japan to become the 3rd largest global economy

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Following the devastating wildfires seen across Hawaii last August, the island state is considering a new tourist tax to fund conservation and restoration projects in hard-hit regions such as Maui.

Gov. Josh Green proposed a $25 “climate impact fee” for vacationers in his second State of the State Address. The tariff is projected to bring in tens of millions a year — with half earmarked for disaster insurance to encourage investment in high-risk areas, as well as fire breaks to shield vulnerable communities.

Paradise lost

This isn’t the first time Hawaii has attempted to pass a similar bill: in April, lawmakers debated a $50 annual green fee that would grant visitors access to parks and beaches; however, that proposal failed in the final hours of a legislative session. Since then, last summer’s wildfires — the worst disaster in Hawaii state history — have caused an estimated $4-6 billion in economic losses, burning thousands of acres of land.

The urgency to protect Hawaii’s natural assets comes as tourist numbers have soared, recording around 10 million visitors in 2019, roughly 7x the state’s ~1.4 million residents. Although the vacationer count hasn’t quite recovered since the pandemic, the state’s reliance on tourism means that the loss of its renowned scenery comes with both ecological and economic consequences — in 2022, tourism was estimated to make up ~18% of Hawaii’s GDP.

Zooming out: Many tourist hotspots are enacting similar legislation: from this spring, Venice is charging a €5 day rate to mitigate damage; Bali recently introduced a $10 sustainability fee; and in Greece, which was also ravaged by wildfires in 2023, a “climate resilience fee” is now added onto lodging bills.

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Rivian just had its best day ever on the stock market, after more than 4 years of pain

The EV-maker’s software division helped power a strong Q4, as industry giants pump the brakes on their electric ambitions.

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Warner Bros. board members reportedly consider reopening deal talks with Paramount

Paramount’s latest amended bid for Warner Bros. Discovery has finally given the board members of the entertainment conglomerate something to seriously think about, as Bloomberg reports that WBD is now considering reopening negotiations with Paramount, despite striking an ~$83 billion binding deal with Netflix in early December.

Last Tuesday, Paramount announced that it had enhanced its all-cash $30-per-share bid for Warner Bros. Discovery, adding an offer to cover the $2.8 billion breakup fee the company would incur with Netflix, as well as a $0.25-per-share “ticking fee” for every quarter the deal hasn’t closed after the end of 2026. Despite Paramount (again) not boosting the bid’s headline cash offer, these latest terms, as well as an offer to backstop a Warner Bros. debt refinancing, have apparently proven enough to give at least some board members pause for thought.

Indeed, top brass at the HBO owner are mulling the possibility that Paramount’s boosted offer could lead to a better deal down the line, Bloomberg reported, citing people familiar with the board’s latest thinking. Still, whether that means the WBD board is hoping for a better bid from Paramount themselves — or the streamer they’ve currently got a binding deal with — is another matter entirely.

Strive Pharmacy recently broke ground on a new facility in Mesa, Arizona. (Strive Pharmacy)

Before Hims’ GLP-1 pill fallout, its pharmacy partner was already drawing scrutiny from state regulators

Strive has already been probed over the timing of its GLP-1 compounding. Now, Arizona regulators are looking into complaints about ketamine misuse and improper distribution of prescription drugs.

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