CNBC

A group led by private equity executive Bill Chisholm is buying the NBA’s Boston Celtics at a valuation of $6.1 billion, the team’s ownership announced Thursday. CNBC's Michael Ozanian has the details: cnb.cx/4hyaa5W

Embattled genetic testing company 23andMe, once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night. The company's CEO, Anne Wojcicki, has resigned from her role as chief executive effective immediately, though she will remain a member of the board. Joseph Selsavage, 23andMe's chief financial and accounting officer, will serve as interim CEO, according to a filing with the U.S. Securities and Exchange Commission. "We have had many successes but I equally take accountability for the challenges we have today," Wojcicki wrote in a post on X early Monday morning. "There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering."

People who start a new business often make one "fatal mistake" that''ll likely doom their venture before it even starts, says Steve Blank. The mistake: not researching your prospective customers or clients before deciding what kind of company you want to build, and the products or services you'll offer. "[I've] seen this a million times," says Blank, an adjunct professor at Stanford University who has written four books on the subject of entrepreneurship and helped build eight different tech startups, of which he co-founded four. Coming up with an idea for a business first, and then determining how to sell that product or service — before you've confirmed it's something your prospective customers actually desire, is a recipe for failure, Blank says.

If you avoid small talk with coworkers or feel anxious when collaborating on projects, you likely need to strengthen your social fitness, according to workplace researchers and performance coaches Henna Pryor and Shane Hatton. Social fitness involves your ability to communicate, problem-solve, and build relationships — all soft skills you need to stand out at work, some experts say. Practicing those skills might feel awkward, but gaining workplace influence requires strengthening your conversational muscles with regular and intentional effort, Pryor and Hatton said at a SXSW panel earlier this month. Few people take the necessary steps to train and maintain their social muscles — the kind that can help navigate workplace conversations and conflict — but the skills aren't that difficult to build, Pryor and Hatton said.

🛢️ Mining giant Fortescue says Big Oil is getting it wrong on renewables Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says Big Oil is getting it wrong on renewables. His comments come at a time when European energy majors are doubling down on fossil fuels to boost near-term shareholder returns. “I’ve always found that the customer is always right, which is why we’re going renewable and moving away from oil and gas because our customers are saying, ‘we want energy but not at any cost, and if you can give us green energy at the same price as dirty [energy] then we are going to buy green every day.’ That’s my job, and that’s Fortescue’s job,” Forrest told CNBC’s “Squawk Box Europe” on Monday. “You’ve got data centers popping up all over Europe and they want green energy if they can get it. They’ll take dirty [energy] if they can’t, sure. That’s Exxon Mobil’s and Total’s argument, ‘well, we’re just doing what the customers want.’ Actually, you’re not. Your customers want green energy,” Forrest said. “Well, if [the] oil and gas [industry] doesn’t want to supply green energy, guess what, Fortescue will,” he added. Fortescue, which is the world’s fourth-largest iron ore miner, has outlined plans to stop burning fossil fuels across its Australian iron ore operations by the end of the decade. ✍ Take a look at the full story: https://lnkd.in/eR2qjcfs #energy #fossilfuels #climate

Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says Big Oil is getting it wrong on renewables — at a time when European energy majors are doubling down on fossil fuels to boost near-term shareholder returns. Britain's BP and Norway's Equinor have both recently outlined plans to slash renewable spending in favor of oil and gas. London-listed Shell, meanwhile, has also scaled back green investment plans. U.S. oil majors such as Exxon Mobil and Chevron, which have outperformed their European rivals in recent years, have typically advocated for transition options such as carbon capture and storage and hydrogen, rather than for renewable technologies like wind and solar.

Officials at the Internal Revenue Service and Treasury Department are anticipating tax revenue to drop more than 10% by April 15 compared with last year, the Washington Post reported Saturday, citing three people with knowledge of the situation. The loss of tax receipts is expected as more individuals and businesses don't file taxes or attempt to avoid paying balances owed to the IRS. The amount of lost federal revenue could top $500 billion, the paper said. Officials said the prediction is directly linked to shifting taxpayer behavior and President Donald Trump's cuts at the IRS, the Washington Post said.

Two Democratic Senators — Elizabeth Warren of Massachusetts and Ron Wyden of Oregon — sent a letter Monday to Frank Bisignano, the nominee to lead the Social Security Administration, to ask whether he supports privatizing the agency and if he would be willing to undo recent changes. Bisignano, who is the chief executive officer of payments technology company Fiserv, has been nominated by President Donald Trump to serve as commissioner of the Social Security Administration. Bisignano's Senate confirmation hearing is scheduled for Tuesday.

South Korean conglomerate Hyundai will announce a $20 billion investment in U.S. onshoring that includes a $5 billion steel plant in Louisiana, according to people familiar with the plans. The plant is set to hire roughly 1,500 employees and will produce next-generation steel that will be used by Hyundai's two U.S. auto plants to manufacture electric vehicles. The investment is expected to be announced Monday at the White House by President Donald Trump, Hyundai Chairman Euisun Chung and Louisiana Gov. Jeff Landry. Hyundai's announcement comes as major international conglomerates are racing to dodge tariffs and avoid a trade war ahead of Trump's April 2 tariff deadline. Taiwan's TSMC and Japan's Softbank are among the major foreign players that have visited the White House in the last two months to announce big U.S. onshoring plans.

Airline perks are getting pricier. United Airlines just announced its raising its fees on its co-branded rewards credit cards and annual memberships for lounges (especially if you're thinking about bringing guests) The airline is confident the new perks of the cards, which include ride-share credits, Instacart and travel discounts, and a temporary sign-up bonus will get more customers even with big competition from popular and pricy rewards cards like Amex Platinum and Chase's own Sapphire cards. Are the perks worth it? https://lnkd.in/eV9nuHAM