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Industry

UNC endowment annual return tops 30 percent as pre-IPO SpaceX bet pays off

The University of North Carolina endowment posted an annual return of more than 30 percent through June, with an early investment in SpaceX cited as a key driver. The stake reportedly grew to about 10 percent of the fund before any listing. Former UNC-Chapel Hill chancellor Holden Thorp, who once opposed the bet, later acknowledged he was wrong. Similar rebounds in private tech holdings are also being cited at other U.S. university endowments.

Mobility

Tesla Cybercab faces U.S. safety audit over lack of steering wheel and brake pedal

Tesla’s driverless robotaxi, the Cybercab, has become the subject of a U.S. federal safety standards review shortly after it began carrying regular passengers. The National Highway Traffic Safety Administration has launched an audit query to examine Tesla’s basis and procedures for claiming the Cybercab meets current federal vehicle safety standards without a regulatory exemption. The review covers self-certification for up to 1,000 vehicles and related technical materials, and could lead to changes or enforcement actions.

Telecommunications & Media

Global OTT rules shift as bundling gains momentum

Bundling that packages rival companies’ content on a single streaming platform is gaining pace in the global OTT industry. Amazon has enabled Prime Video users to subscribe to services such as HBO Max and Apple TV via its app, and YouTube and Roku are stepping up efforts toward one-stop TV viewing. YouTube will bundle NBCUniversal’s Peacock for Premium subscribers. Netflix has also moved to integrate France’s TF1 and is discussing options to offer Peacock and Fox One.