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Chardan Analyst Assesses Genome Editing’s Dazzling Potential, Stubborn Challenges

During Chardan’s recent 6th Annual Genetic Medicines Conference in New York, held in-person for the first time since the COVID-19 pandemic, leaders from…

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Geulah Livshits, PhD, a Senior Research Analyst at Chardan covering biotech companies, with a focus on gene editing and oncology.

Genome editing’s dazzling potential and stubborn challenges were both highlighted at Chardan’s 6th Annual Genetic Medicines Conference earlier this month in New York, held in-person for the first time since the COVID-19 pandemic.

Leaders from 72 companies presented updates on their pipeline progress and expected milestones, while speakers and other stakeholders weighed in on technologies that included adeno-associated virus (AAV)-based gene therapies, RNA-based treatments including long non-coding RNAs, base and prime editing technologies, gene regulation, and non-viral genetic medicines.

Some key inflection points for the genome editing field are expected to emerge over the coming year with clinical data readouts from leading companies in the field on drug candidates furthest along in trials.

One is exagamglogene autotemcel or “exa-cel” (formerly CTX001), the autologous, ex vivo CRISPR-Cas9 gene-edited therapy co-developed by CRISPR Therapeutics and Vertex Pharmaceuticals for sickle-cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). Vertex agreed last year to pay CRISPR Therapeutics $900 million upfront to lead the global development, manufacturing, and commercialization of CTX001 following very positive early clinical results.

Another is NTLA-2001, the in vivo CRISPR-Cas9-based therapy co-developed by Intellia Therapeutics and Regeneron Pharmaceuticals to treat transthyretin (ATTR) amyloidosis. Last year researchers from the companies and their clinical partners published the first-ever clinical data supporting the safety and efficacy of in vivo CRISPR genome editing in humans. “We believe we are truly opening a new era of medicine,” Intellia president and CEO John Leonard, MD, declared.

By the end of this year, Editas Medicine is expected to announce clinical data for its two lead candidates pursuing proof-of-concept—EDIT-101, an in vivo CRISPR gene editing treatment for Leber congenital amaurosis 10 (LCA10); and EDIT-301, a cell therapy medicine also being developed for SCD and TDT. Next year, Verve Therapeutics is expected to report interim clinical data for VERVE-101, the first in vivo base editing therapy to reach the clinic, dosing its first patient in July.

Also in 2023, Graphite Bio is expected to report initial proof of concept data from its Phase I/II open-label CEDAR trial designed to evaluate the safety, preliminary efficacy, and pharmacodynamics of Nula-cel (formerly GPH101) in adults and adolescents with severe SCD. The first patient in CEDAR was dosed in August. Graphite Bio’s precision gene editing approach, is designed to “find & replace” any gene in the genome using its UltraHDR gene editing platform.

Geulah Livshits, PhD, is a Senior Research Analyst at Chardan covering biotech companies, with a focus on gene editing and oncology. After a busy stint at the conference, where she moderated numerous presentations, Livshits sat down to discuss the progress and challenges of developing genome editing therapies with GEN Edge. (This interview has been lightly edited for length and clarity).

GEN Edge: What emerged among the key themes as you spoke with CEOs and heard presentations during the conference?

Livshits: Clearly there’s a lot of interesting science that is being done along the genetic medicine spectrum, from gene editing to gene therapy, both on the therapeutics side and on the platform side. One of the areas that kept coming up repeatedly is the importance of delivery in various types of genetic medicines applications. Whether it’s gene editing or gene therapy, getting to the right cell and delivering the right amount is clearly important parameters for the therapeutic space.

GEN Edge: What are the key challenges involved in delivery, and how are companies surmounting them?

Livshits: The genome editing space has really leveraged a lot of the delivery modalities that have been used for other therapeutics in the past—for example, AAV vectors that have been used in gene therapy for gene delivery, and lipid nanoparticles (LNPs) for RNA modalities. The challenges within those spaces are a little bit different. The other dimension there is the tissue that companies are trying to target for a particular therapeutic application.

At this point, I think we’ve seen great delivery to the liver using lipid nanoparticles that encapsulate mRNAs that can code either the gene that expresses the liver protein, or the genome editor, as we’ve seen from Intellia’s data, where they reported clinical results in humans. And Verve Therapeutics is also in the clinic. Now we haven’t seen clinical data there yet, but from Intellia’s data, we’ve seen good translatability between preclinical models such as mice and non-human primates over into the clinic.

For liver, at least in the genome editing space, LNPs are seen as the most advanced approach. But LNPs are less mature as a delivery form to other tissues. Now, that’s an area where we’ve seen some activity in recent years, in terms of adapting LNPs to target different tissues and cell types. This is either done by changing the chemical properties of LNPs to select for versions that can better deliver genetic material or cargo components into other tissues, such as lung or immune cells or hematopoietic stem cells. There are additional approaches that you could use to try to target them. That’s the non-viral component.

Then on the viral side, AAV delivery in itself, within the gene therapy space, is an evolving area. The next-gen versions of AAV vectors can potentially either avoid the liver or reduce exposure to the liver, which is one of the sources of some toxicities that we’ve seen in the space, and/or show better tropism to different target tissues, such as the central nervous system or muscle, that could potentially enable lower dosing. And that, again, could help improve a benefit-risk profile in terms of safety.

So on the gene editing side, companies could piggyback off of those advances incorporating different AAV vectors. The challenge there is making sure that the genome editing enzyme can actually fit as a cargo in a viral vector, because viral vectors have pretty defined constraints in terms of the size of the cargo that you can package. The traditional Cas9 nuclease that has been used in the clinic is typically challenging to package. Editas does have a different version of Cas9 that they use in their clinical program that does work in an AAV vector, but having a smaller nuclease affords more flexibility in incorporating additional regulatory elements or next-gen precision editing domains, using viral vectors, such as AAV and other next-gen viral vectors that might be in development.

GEN Edge: Until now, the types of tissues and organs seem to decide when companies go to a viral or a non-viral delivery approach. How much will that change?

Livshits: We’re seeing the confluence of the cargo technology advancements as well as the delivery technology advances guiding where the pipelines go. Typically, companies take a balanced risk management approach where, if they’re advancing a new, let’s say, editing technology, they may want to mitigate other sources of risk by going after a target that’s well understood, and using a delivery mechanism that is also well characterized, such that the risk is isolated as much as possible to this specific technology that they’re advancing, whether that be in a novel nuclease system, or a base editor, or something of that sort.

As the delivery technologies mature, we’ll see, pipelines may follow. In the case of AAV, we see delivery to the liver as well as muscle and the central nervous system. And again, those are continuing to iterate with new and potentially improved versions of those technologies. And in the lipid nanoparticle setting, there’s early-stage programs that will be looking at delivery to the lung and the immune system. We’ve seen a fair amount of interest in in situ cell therapies.

In our 2022 preview commentary, we asked if the future of cell therapy could be in vivo. Obviously that’s an unknown, potentially long-term time horizon, because there’s a lot of science to be done. But that’s an area where we’ve seen a lot of interest, for example, with developing in situ CAR-T, such as Orna Therapeutics is doing, or in situ CAR macrophages, such as Carisma Therapeutics is doing with Moderna, or with myeloid cells as Myeloid Therapeutics is doing. We heard from each of those companies a bit at our conference, discussing those different strategies. Again, it’s early days for those types of technologies.

GEN Edge: Where do base and prime editing have a place in the toolbox that therapy developers are creating? Will these be widely used or selectively?

Livshits: I think a lot of it comes down to matching the right tool to an indication or patient swath, where it provides an advantage over other available systems or technologies. So for something like base editing, where it can correct the specific mutation, it may represent an advance, and an attractive strategy in settings where, let’s say, there’s one common mutation, or one or two common mutations that a large swath of patients with an indication have, such that they could all be treated with the same therapy.

If there is an indication where patients have a variety of different mutations, a gene delivery strategy might be better—whether that’s a gene therapy strategy, or something that inserts the replacement into the genome. That way patients with lots of different mutations might be amenable to treatment with a single therapy. In the longer term, eventually maybe, there could be the pathways for really personalized gene correction strategies. That’s a longer-term vision for the space. There’s a lot to be done between here and there.

For prime editing, it’s a similar question, where that could be amenable to treating indications where there’s, let’s say, a mutation or a hot spot of several mutations that could all be treated with the same kind of smaller insertion fragment or rewriting fragment. So those are the dimensions on the indication side. Again, for each of those modalities, there’s also constraints in terms of delivery, and the size of the enzyme, and the technology that’s doing the activity. I think there’s space for multiple different technologies based on what is needed for a particular indication.

The other dimension here is efficiency. In some cases, it may be important to have high efficiency, and the exact consistency of the editing outcome may not be as critical. For example, in the setting of gene knockdown, you don’t necessarily need to do the precise correction as you would if you were trying to maintain expression of the protein and didn’t want to accidentally create a deficient allele.

GEN Edge: How much have base and prime editing driven efforts to shrink the nucleases used by genome editing therapy developers?

Livshits: Part of the push for the smaller nucleases is to be able to hook on these additional functionalities. Again, whether it’s a base editor or prime editor, or an epigenome editor, having a smaller nuclease could in principle, leave space for an additional functional element to be attached there. Some of the companies that presented at the conference also mentioned advantages for lipid nanoparticle delivery, in terms of packaging efficiency and parameters there. I think that’s less widely understood or characterized as compared to the AAV vector packaging constraints, which are very well known from the gene therapy space.

Attaching a base editing domain or a prime editing domain—adding these different functional elements increases the size of the cargo. This is where potentially having a smaller enzyme can help increase the flexibility, in terms of fitting into a viral vector along with whatever kind of regulatory elements might be needed, such as a tissue-specific promoter or something of that sort.

GEN Edge: Is there still a place for Cas9 in genome editing? Or will that be supplanted by newer and smaller nucleases?

Livshits: I don’t think supplanted is the right word. Companies will look at what is needed for a particular indication, and should be matching the appropriate tool for the job, rather than holding a hammer and assuming everything is a nail, basically.

Each of the nucleases is likely to be different with regard to the biochemical details. People want to generalize a lot regarding the space, but the details really do matter, when you come down to the biochemical edits that you’re trying to achieve at the therapeutic level. Different nucleases will likely have different PAM preferences, different abilities, and different biochemical properties with respect to DNA binding, specificity or off-target. So I think there’s room for multiple different flavors of nucleases, and it’s more about matching the right one in the toolbox for the job.

Clearly Cas9 has worked in the clinic so far in terms of at least showing target knockdown from Intellia’s programs. There’s potential for other nucleases to also have effects there, but there’s the important parameter is to match the appropriate tool for the therapy itself.

GEN Edge: Intellia and Regeneron recently announced positive data for their single-dose CRISPR therapy NTLA-2001 for transthyretin amyloidosis. CRISPR Therapeutics and Vertex have reported positive results for nearly two years. And Editas has retooled with a new CEO and announced the first patient successful patient engraftment in a sickle cell disease trial. How soon are we from seeing treatments win approval and reach patients?

Livshits: CRISPR Therapeutics and Vertex have guided to regulatory filings in towards the end of this year in Europe, and they plan to start a rolling submission, I believe, by the end of this year to be completed in the beginning of 2023. So, we’re not too far away from having these therapies potentially reach the regulatory approval stage and making the way to patients, potentially, in the 2023 timeframe, at least on the ex vivo side.

On the in vivo side, Intellia is engaged a little bit with the FDA. They plan to provide an update on a pivotal path for their lead program in transthyretin amyloidosis later this year. So at that point, we’ll have a better sense of the exact timelines to approval or a filing on that one. Whereas on the ex vivo side, we might be pretty close, actually.

GEN Edge: What are the greatest successes for genome editing over the past decade, and the key challenges that need to be surmounted going forward?

Livshits: The success of this so far has been the translatability that we’ve seen in the in vivo genome editing technology. As an academic scientist, I like to see when mouse data translates to non-human primate data and ultimately to the clinical setting. I’m very encouraged by good translatability in any setting when I see it, because then that helps de-risk future programs. That’s the advantage of a pipeline that does incorporate a particular genome editor, and where the thing that changes is, let’s say, the guide RNA and the target.

In addition to translatability on the in vivo side, another success is the efficiency that we’ve seen on the ex vivo side from CRISPR Therapeutics and Vertex’s program, and just in general the editing efficiencies. The challenge on the ex vivo side is not so much a challenge related to editing, but how it’s necessarily applied. In many cases, companies are using genome editing to enable immune evasion in an off-the-shelf cell therapy context. And the field has, I think, not quite finalized the optimal actual targets to the editing.

It’s not necessarily that the editing doesn’t work. The editing seems to work well, but which targets need to be edited is an in-progress question. That’s something that there’s different strategies that that are in play, that we might learn more about over the next couple of years.

The other open question in this space is, when you do edit multiple genes at a time in a cell therapy, whether that multiplex editing could create translocations? We know it does at some low level. But whether that is positioned to create problems in terms of the therapy is an open question. So that whether base editing is the more attractive strategy in that setting is an open question at the functional level.

GEN Edge: One challenge the field still faces is ensuring broad, patient access to the treatments that will emerge in coming years. Some gene therapies carry list prices as high as $23 million. How much more affordable can genome editing therapies be? And how will that affordability come about?

Livshits: Yes, it’s a good question. At least initially, a genome editing therapy might be fairly similar to a comparable gene therapy or other genetic medicine approaches that are using similar modalities. For example, in a cell therapy setting, the cell processing and manipulation components do contribute to the cost. It’s not necessarily that different, although being able to avoid having to use a viral vector does reduce some of the costs associated with the genome editing program.

At a broad level, it might be fairly similar on the cell therapy side. And then in the in vivo editing setting, there are comparable reference points using LNPs or other in vivo genetic medicine deliveries. Typically, when we think about modeling out a gene therapy approach, we often think about estimating its effect over four or five years, such that you can expect that a one-time dose might save five years of repeat treatment.

In terms of access to in vivo lipid nanoparticles, we’ve seen broad distribution with the COVID vaccines, so that’s less of a hurdle in terms of access at this point in that we’ve seen scalable manufacturing and distribution in that setting. In the cell therapy setting, it does remain a challenge.

From our perspective, the CRISPR/Vertex program benefits from Vertex’s broad expertise and global footprint. On the logistics front, we think that they could fare pretty well. We see other companies on the ex vivo cell therapy side, such as Bluebird Bio, run into challenges in Europe. We’ll see how they do in the U.S. now that they’ve gotten their approvals. But I think that’s the reference point that we would think of for the sickle cell programs.

GEN Edge: What stories, trends, or developments will you be watching to see unfold as we move into 2023?

Livshits: In the fourth quarter [2022], we’ll have a couple of areas of regulatory path visibility and guidance from some of the programs. Intellia will have a little bit more visibility on their path in transthyretin amyloidosis. We’ll also have some visibility on Rocket [Pharmaceuticals]’ gene therapy program in Danon disease, which is also an area that we’re closely watching. They recently reported data, and we’ll be interested to see what kind of a pivotal study design they’ll come up with.

I think it’s an exciting time in the genetic medicine space overall. The science continues to move forward, both on the platform side, and as pipelines continue to mature. We just had two BLA filings [September 2022] in the gene therapy space as well, so that area continues to move forward on the clinical side for sure.

The post Chardan Analyst Assesses Genome Editing’s Dazzling Potential, Stubborn Challenges appeared first on GEN - Genetic Engineering and Biotechnology News.

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Shakira’s net worth

After 12 albums, a tax evasion case, and now a towering bronze idol sculpted in her image, how much is Shakira worth more than 4 decades into her care…

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Shakira’s considerable net worth is no surprise, given her massive popularity in Latin America, the U.S., and elsewhere. 

In fact, the belly-dancing contralto queen is the second-wealthiest Latin-America-born pop singer of all time after Gloria Estefan. (Interestingly, Estefan actually helped a young Shakira translate her breakout album “Laundry Service” into English, hugely propelling her stateside success.)

Since releasing her first record at age 13, Shakira has spent decades recording albums in both Spanish and English and performing all over the world. Over the course of her 40+ year career, she helped thrust Latin pop music into the American mainstream, paving the way for the subsequent success of massively popular modern acts like Karol G and Bad Bunny.

In late 2023, a 21-foot-tall bronze sculpture of Shakira, the barefoot belly dancer of Barranquilla, was unveiled at the city's waterfront. The statue was commissioned by the city's former mayor and other leadership.

Photo by STR/AFP via Getty Images

In December 2023, a 21-foot-tall beachside bronze statue of the “Hips Don’t Lie” singer was unveiled in her Colombian hometown of Barranquilla, making her a permanent fixture in the city’s skyline and cementing her legacy as one of Latin America’s most influential entertainers.

After 12 albums, a plethora of film and television appearances, a highly publicized tax evasion case, and now a towering bronze idol sculpted in her image, how much is Shakira worth? What does her income look like? And how does she spend her money?

Related: Dwayne 'The Rock' Johnson's net worth: How the new TKO Board Member built his wealth from $7

How much is Shakira worth?

In late 2023, Spanish sports and lifestyle publication Marca reported Shakira’s net worth at $400 million, citing Forbes as the figure’s source (although Forbes’ profile page for Shakira does not list a net worth — and didn’t when that article was published).

Most other sources list the singer’s wealth at an estimated $300 million, and almost all of these point to Celebrity Net Worth — a popular but dubious celebrity wealth estimation site — as the source for the figure.

A $300 million net worth would make Shakira the third-richest Latina pop star after Gloria Estefan ($500 million) and Jennifer Lopez ($400 million), and the second-richest Latin-America-born pop singer after Estefan (JLo is Puerto Rican but was born in New York).

Shakira’s income: How much does she make annually?

Entertainers like Shakira don’t have predictable paychecks like ordinary salaried professionals. Instead, annual take-home earnings vary quite a bit depending on each year’s album sales, royalties, film and television appearances, streaming revenue, and other sources of income. As one might expect, Shakira’s earnings have fluctuated quite a bit over the years.

From June 2018 to June 2019, for instance, Shakira was the 10th highest-earning female musician, grossing $35 million, according to Forbes. This wasn’t her first time gracing the top 10, though — back in 2012, she also landed the #10 spot, bringing in $20 million, according to Billboard.

In 2023, Billboard listed Shakira as the 16th-highest-grossing Latin artist of all time.

Shakira performed alongside producer Bizarrap during the 2023 Latin Grammy Awards Gala in Seville.

Photo By Maria Jose Lopez/Europa Press via Getty Images

How much does Shakira make from her concerts and tours?

A large part of Shakira’s wealth comes from her world tours, during which she sometimes sells out massive stadiums and arenas full of passionate fans eager to see her dance and sing live.

According to a 2020 report by Pollstar, she sold over 2.7 million tickets across 190 shows that grossed over $189 million between 2000 and 2020. This landed her the 19th spot on a list of female musicians ranked by touring revenue during that period. In 2023, Billboard reported a more modest touring revenue figure of $108.1 million across 120 shows.

In 2003, Shakira reportedly generated over $4 million from a single show on Valentine’s Day at Foro Sol in Mexico City. 15 years later, in 2018, Shakira grossed around $76.5 million from her El Dorado World Tour, according to Touring Data.

Related: RuPaul's net worth: Everything to know about the cultural icon and force behind 'Drag Race'

How much has Shakira made from her album sales?

According to a 2023 profile in Variety, Shakira has sold over 100 million records throughout her career. “Laundry Service,” the pop icon’s fifth studio album, was her most successful, selling over 13 million copies worldwide, according to TheRichest.

Exactly how much money Shakira has taken home from her album sales is unclear, but in 2008, it was widely reported that she signed a 10-year contract with LiveNation to the tune of between $70 and $100 million to release her subsequent albums and manage her tours.

Shakira and JLo co-headlined the 2020 Super Bowl Halftime Show in Florida.

Photo by Kevin Winter/Getty Images)

How much did Shakira make from her Super Bowl and World Cup performances?

Shakira co-wrote one of her biggest hits, “Waka Waka (This Time for Africa),” after FIFA selected her to create the official anthem for the 2010 World Cup in South Africa. She performed the song, along with several of her existing fan-favorite tracks, during the event’s opening ceremonies. TheThings reported in 2023 that the song generated $1.4 million in revenue, citing Popnable for the figure.

A decade later, 2020’s Superbowl halftime show featured Shakira and Jennifer Lopez as co-headliners with guest performances by Bad Bunny and J Balvin. The 14-minute performance was widely praised as a high-energy celebration of Latin music and dance, but as is typical for Super Bowl shows, neither Shakira nor JLo was compensated beyond expenses and production costs.

The exposure value that comes with performing in the Super Bowl Halftime Show, though, is significant. It is typically the most-watched television event in the U.S. each year, and in 2020, a 30-second Super Bowl ad spot cost between $5 and $6 million.

How much did Shakira make as a coach on “The Voice?”

Shakira served as a team coach on the popular singing competition program “The Voice” during the show’s fourth and sixth seasons. On the show, celebrity musicians coach up-and-coming amateurs in a team-based competition that eventually results in a single winner. In 2012, The Hollywood Reporter wrote that Shakira’s salary as a coach on “The Voice” was $12 million.

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How does Shakira spend her money?

Shakira doesn’t just make a lot of money — she spends it, too. Like many wealthy entertainers, she’s purchased her share of luxuries, but Barranquilla’s barefoot belly dancer is also a prolific philanthropist, having donated tens of millions to charitable causes throughout her career.

Private island

Back in 2006, she teamed up with Roger Waters of Pink Floyd fame and Spanish singer Alejandro Sanz to purchase Bonds Cay, a 550-acre island in the Bahamas, which was listed for $16 million at the time.

Along with her two partners in the purchase, Shakira planned to develop the island to feature housing, hotels, and an artists’ retreat designed to host a revolving cast of artists-in-residence. This plan didn’t come to fruition, though, and as of this article’s last update, the island was once again for sale on Vladi Private Islands.

Real estate and vehicles

Like most wealthy celebs, Shakira’s portfolio of high-end playthings also features an array of luxury properties and vehicles, including a home in Barcelona, a villa in Cyprus, a Miami mansion, and a rotating cast of Mercedes-Benz vehicles.

Philanthropy and charity

Shakira doesn’t just spend her massive wealth on herself; the “Queen of Latin Music” is also a dedicated philanthropist and regularly donates portions of her earnings to the Fundación Pies Descalzos, or “Barefoot Foundation,” a charity she founded in 1997 to “improve the education and social development of children in Colombia, which has suffered decades of conflict.” The foundation focuses on providing meals for children and building and improving educational infrastructure in Shakira’s hometown of Barranquilla as well as four other Colombian communities.

In addition to her efforts with the Fundación Pies Descalzos, Shakira has made a number of other notable donations over the years. In 2007, she diverted a whopping $40 million of her wealth to help rebuild community infrastructure in Peru and Nicaragua in the wake of a devastating 8.0 magnitude earthquake. Later, during the COVID-19 pandemic in 2020, Shakira donated a large supply of N95 masks for healthcare workers and ventilators for hospital patients to her hometown of Barranquilla.

Back in 2010, the UN honored Shakira with a medal to recognize her dedication to social justice, at which time the Director General of the International Labour Organization described her as a “true ambassador for children and young people.”

On November 20, 2023 (which was supposed to be her first day of trial), Shakira reached a deal with the prosecution that resulted in a three-year suspended sentence and around $8 million in fines.

Photo by Adria Puig/Anadolu via Getty Images

Shakira’s tax fraud scandal: How much did she pay?

In 2018, prosecutors in Spain initiated a tax evasion case against Shakira, alleging she lived primarily in Spain from 2012 to 2014 and therefore failed to pay around $14.4 million in taxes to the Spanish government. Spanish law requires anyone who is “domiciled” (i.e., living primarily) in Spain for more than half of the year to pay income taxes.

During the period in question, Shakira listed the Bahamas as her primary residence but did spend some time in Spain, as she was dating Gerard Piqué, a professional footballer and Spanish citizen. The couple’s first son, Milan, was also born in Barcelona during this period. 

Shakira maintained that she spent far fewer than 183 days per year in Spain during each of the years in question. In an interview with Elle Magazine, the pop star opined that “Spanish tax authorities saw that I was dating a Spanish citizen and started to salivate. It's clear they wanted to go after that money no matter what."

Prosecutors in the case sought a fine of almost $26 million and a possible eight-year prison stint, but in November of 2023, Shakira took a deal to close the case, accepting a fine of around $8 million and a three-year suspended sentence to avoid going to trial. In reference to her decision to take the deal, Shakira stated, "While I was determined to defend my innocence in a trial that my lawyers were confident would have ruled in my favour [had the trial proceeded], I have made the decision to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her personal well-being in this fight."

How much did the Shakira statue in Barranquilla cost?

In late 2023, a 21-foot-tall bronze likeness of Shakira was unveiled on a waterfront promenade in Barranquilla. The city’s then-mayor, Jaime Pumarejo, commissioned Colombian sculptor Yino Márquez to create the statue of the city’s treasured pop icon, along with a sculpture of the city’s coat of arms.

According to the New York Times, the two sculptures cost the city the equivalent of around $180,000. A plaque at the statue’s base reads, “A heart that composes, hips that don’t lie, an unmatched talent, a voice that moves the masses and bare feet that march for the good of children and humanity.” 

Related: Taylor Swift net worth: The most successful entertainer joins the billionaire's club

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Delta Air Lines adds a new route travelers have been asking for

The new Delta seasonal flight to the popular destination will run daily on a Boeing 767-300.

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Those who have tried to book a flight from North America to Europe in the summer of 2023 know just how high travel demand to the continent has spiked.

At 2.93 billion, visitors to the countries making up the European Union had finally reached pre-pandemic levels last year while North Americans in particular were booking trips to both large metropolises such as Paris and Milan as well as smaller cities growing increasingly popular among tourists.

Related: A popular European city is introducing the highest 'tourist tax' yet

As a result, U.S.-based airlines have been re-evaluating their networks to add more direct routes to smaller European destinations that most travelers would have previously needed to reach by train or transfer flight with a local airline.

The new flight will take place on a Boeing 767-300.

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Delta Air Lines: ‘Glad to offer customers increased choice…’

By the end of March, Delta Air Lines  (DAL)  will be restarting its route between New York’s JFK and Marco Polo International Airport in Venice as well as launching two new flights to Venice from Atlanta. One will start running this month while the other will be added during peak demand in the summer.

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“As one of the most beautiful cities in the world, Venice is hugely popular with U.S. travelers, and our flights bring valuable tourism and trade opportunities to the city and the region as well as unrivalled opportunities for Venetians looking to explore destinations across the Americas,” Delta’s SVP for Europe Matteo Curcio said in a statement. “We’re glad to offer customers increased choice this summer with flights from New York and additional service from Atlanta.”

The JFK-Venice flight will run on a Boeing 767-300  (BA)  and have 216 seats including higher classes such as Delta One, Delta Premium Select and Delta Comfort Plus.

Delta offers these features on the new flight

Both the New York and Atlanta flights are seasonal routes that will be pulled out of service in October. Both will run daily while the first route will depart New York at 8:55 p.m. and arrive in Venice at 10:15 a.m. local time on the way there, while leaving Venice at 12:15 p.m. to arrive at JFK at 5:05 p.m. on the way back.

According to Delta, this will bring its service to 17 flights from different U.S. cities to Venice during the peak summer period. As with most Delta flights at this point, passengers in all fare classes will have access to free Wi-Fi during the flight.

Those flying in Delta’s highest class or with access through airline status or a credit card will also be able to use the new Delta lounge that is part of the airline’s $12 billion terminal renovation and is slated to open to travelers in the coming months. The space will take up more than 40,000 square feet and have an outdoor terrace.

“Delta One customers can stretch out in a lie-flat seat and enjoy premium amenities like plush bedding made from recycled plastic bottles, more beverage options, and a seasonal chef-curated four-course meal,” Delta said of the new route. “[…] All customers can enjoy a wide selection of in-flight entertainment options and stay connected with Wi-Fi and enjoy free mobile messaging.”

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Stock Market Today: Stocks turn lower as factory inflation spikes, retail sales miss target

Stocks will navigate the last major data releases prior to next week’s Fed rate meeting in Washington.

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Check back for updates throughout the trading day

U.S. stocks edged lower Thursday following a trio of key economic releases that have added to the current inflation puzzle as investors shift focus to the Federal Reserve's March policy meeting next week in Washington.

Updated at 9:59 AM EDT

Red start

Stocks are now falling sharply following the PPI inflation data and retail sales miss, with the S&P 500 marked 18 points lower, or 0.36%, in the opening half hour of trading.

The Dow, meanwhile, was marked 92 points lower while the Nasdaq slipped 67 points.

Treasury yields are also on the move, with 2-year notes rising 5 basis points on the session to 4.679% and 10-year notes pegged 7 basis points higher at 4.271%.

Updated at 9:44 AM EDT

Under Water

Under Armour  (UAA)  shares slumped firmly lower in early trading following the sportswear group's decision to bring back founder Kevin Plank as CEO, replacing the outgoing Stephanie Linnartz.

Plank, who founded Under Armour in 1996, left the group in May of 2021 just weeks before the group revealed that it was co-operating with investigations from both the Securities and Exchange Commission and the U.S. Department of Justice into the company's revenue recognition accounting.

Under Armour shares were marked 10.6% lower in early trading to change hands at $7.21 each.

Source: Under Armour Investor Relations

Updated at 9:22 AM EDT

Steely resolve

U.S. Steel  (X)  shares extended their two-day decline Thursday, falling 5.75% in pre-market trading following multiple reports that suggest President Joe Biden will push to prevent Japan's Nippon Steel from buying the Pittsburgh-based group.

Both Reuters and the Associated Press have said Biden will express his views to Prime Minister Kishida Yuko ahead of a planned State Visit next month at the White House. 

Related: US Steel soars on $15 billion Nippon Steel takeover; United Steelworkers slams deal

Updated at 8:52 AM EDT

Clear as mud

Retail sales rebounded last month, but the overall tally of $700.7 billion missed Street forecasts and suggests the recent uptick in inflation could be holding back discretionary spending.

A separate reading of factory inflation, meanwhile, showed prices spiking by 1.6%, on the year, and 0.6% on the month, amid a jump in goods prices.

U.S. stocks held earlier gains following the data release, with futures tied to the S&P 500 indicating an opening bell gain of 10 points, while the Dow was called 140 points higher. The Nasdaq, meanwhile, is looking at a more modest 40 point gain.

Benchmark 10-year Treasury note yields edged 3 basis points lower to 4.213% while two-year notes were little-changed at 4.626%.

Stock Market Today

Stocks finished lower last night, with the S&P 500 ending modestly in the red and the Nasdaq falling around 0.5%. The declines came amid an uptick in Treasury yields tied to concern that inflation pressures have failed to ease over the opening months of the year.

A better-than-expected auction of $22 billion in 30-year bonds, drawing the strongest overall demand since last June, steadied the overall market, but stocks still slipped into the close with an eye towards today's dataset.

The Commerce Department will publish its February reading of factory-gate inflation at 8:30 am Eastern Time. Analysts are expecting a slowdown in the key core reading, which feeds into the Fed's favored PCE price index.

Retail sales figures for the month are also set for an 8:30 am release as investors search for clues on consumer strength, tied to a resilient job market. Those factors could give the Fed more justification to wait until the summer months to begin the first of its three projected rate cuts.

"The case for a gradual but sustained slowdown in growth in consumers’ spending from 2023’s robust pace is persuasive," said Ian Shepherdson of Pantheon Macroeconomics. 

"Most households have run down the excess savings accumulated during the pandemic, while the cost of credit has jumped and last year’s plunge in home sales has depressed demand housing-related retail items like furniture and appliances," he added.

Benchmark 10-year Treasury yields are holding steady at 4.196% heading into the start of the New York trading session, while 2-year notes were pegged at 4.628%.

With Fed officials in a quiet period, requiring no public comments ahead of next week's meeting in Washington, the U.S. dollar index is trading in a narrow range against its global peers and was last marked 0.06% higher at 102.852.

On Wall Street, futures tied to the S&P 500 are indicating an opening bell gain of around 19 points, with the Dow Jones Industrial Average indicating a 140-point advance.

The tech-focused Nasdaq, which is up 7.77% for the year, is priced for a gain of around 95 points, with Tesla  (TSLA)  once again sliding into the red after ending the Wednesday session at a 10-month low.

In Europe, the regionwide Stoxx 600 was marked 0.35% higher in early Frankfurt trading, while Britain's FTSE 100 slipped 0.09% in London.

Overnight in Asia, the Nikkei 225 gained 0.29% as investors looked to a key series of wage negotiation figures from key unions that are likely to see the biggest year-on-year pay increases in three decades.

The broader MSCI ex-Japan benchmark, meanwhile, rose 0.18% into the close of trading. 

Related: Veteran fund manager picks favorite stocks for 2024

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