Author: theparknews

Written by Shriparna Roy and Bhanvi Sathya (Reuters) – UnitedHealth’s high medical costs and lower-than-expected earnings in the fourth quarter highlighted persistent challenges in the insurance sector, sending the healthcare conglomerate’s shares down about 4% before the bell on Thursday. . The earnings report was the company’s first since the shocking killing of UnitedHealth Insurance CEO Brian Thompson, which sparked controversy over health insurance claim denials and high premiums. Rising medical costs in government-backed Medicare plans for seniors and changes in eligibility criteria for Medicaid plans have weighed on the health insurance industry for more than a year. UnitedHealth’s quarterly…

(Reuters) – The Walt Disney Company said on Monday it is merging its Hulu + Live TV business with smaller rival FuboTV. This could also pave the way for a sports streaming venture with Fox and Warner Bros. Discovery. The combination will create the second-largest Internet pay-TV company in North America after YouTube TV, with approximately $6 billion in revenue and 6.2 million subscribers. Disney will hold a 70% majority stake in the business, which will be led by Fubo CEO and co-founder David Gandler. The deal excludes Hulu’s main video streaming business. As part of the agreement, Fubo will…

Written by Pete Schroeder and Douglas Gillison WASHINGTON (Reuters) – U.S. banking regulators have directed banks to suspend direct efforts in cryptocurrencies in 2022 and 2023, despite industry complaints of widespread “debanking”. The government did not order virtual currency companies to stop providing banking services, according to documents released on the 2nd. Friday. History Associates, Inc., a research firm hired by cryptocurrency exchange Coinbase, has filed a lawsuit against the Federal Deposit Insurance Corporation seeking to release supervisory “cease and desist letters” it sent to unidentified banks. In response, a judge ordered the Federal Deposit Insurance Corporation to provide a…

(Reuters) – Bill Ackman predicts that President-elect Donald Trump may take Fannie Mae (FNMA) and Freddie Mac (FREGP) out of conservatorship and make them privately held again. , billionaire investor Bill Ackman revealed on Monday. Following Mr. Ackman’s post on social media platform Fannie Mae and Freddie Mac could emerge from conservatorship within the next two years and go public around 2026, according to Ackman’s post. Fannie & Freddie operates as a for-profit corporation with private shareholders and its mission is to expand the national mortgage lending market by purchasing mortgages from private lenders and repackaging them as mortgage-backed securities.…

Written by Sneha SK and Sriparna Roy (Reuters) – The U.S. Food and Drug Administration said on Friday it has approved an injectable version of Bristol-Myers Squibb Inc.’s (BMY) blockbuster cancer drug Opdivo. Opdivo is part of a class of drugs called PD-1 inhibitors, which strengthen the immune system’s ability to fight cancer by releasing the immune system’s natural brakes. Like other PD-1 drugs, such as Merck’s Keytruda, it was previously available as an intravenous infusion, which patients received in a nurse’s office. The new injection is expected to be more convenient for patients and could help the company avoid…

Written by Sabyata Mishra (Reuters) – U.S. retail sales rose 3.8% from Nov. 1 to Dec. 24. That’s because strong promotions encouraged consumers to make last-minute purchases to boost sales during what was expected to be a competitive holiday season for retailers. The sales growth was well above last year’s 3.1% increase, with the final five days of the season accounting for 10% of all holiday spending, and easily beating Mastercard’s September forecast for a 3.2% increase. Major retailers including Walmart, Target and Amazon.com have stepped up promotions and value messages to attract customers during the shorter-than-usual holiday season, with…

(Reuters) – Taiwan has blocked Uber Technologies Inc.’s $950 million acquisition of Delivery Hero’s Foodpanda business on the island, citing anti-competitive concerns, the Fair Trade Commission said. ) was announced on Wednesday. Uber and Foodpanda did not immediately respond to requests for comment outside of normal business hours. Delivery Hero said in a statement that Uber could appeal the commission’s decision or terminate the acquisition. The commission said in a press conference that the negative impacts of the merger outweighed the overall economic benefits and that remedial actions would not address competition concerns. “In the food delivery platform market, Uber…

(Reuters) – Oracle (ORCL) shares fell more than 9% on Tuesday after quarterly revenue fell short of Wall Street expectations, and the company’s share price fell more than 9% on Tuesday after quarterly revenue fell short of Wall Street expectations, undermining intense market pressure in its cloud business amid soaring demand from AI service providers. It showed investors’ concerns about competition. The company traded at $172.78 a share, with its market capitalization expected to fall by nearly $50 billion if the losses continued. Oracle’s stock has soared more than 80% this year through Monday as investors cheered investments to shore…

Written by Dawn Chmielewski (Reuters) – Rupert Murdoch has lost a bid to change his family trust to cement control of his media empire in the hands of his son Lachlan, The New York Times said on Monday, citing unsealed court documents. Reported. In a ruling filed Saturday, Nevada Secretary of State Edmund Gorman said Rupert Murdoch and his eldest son Lachlan, the head of Fox News parent company Fox Corporation and News Corp. It concluded it had acted in “malice” in its efforts to amend the trust. The Times reported. Court records show Gorman issued the recommendation or order…

Written by Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The euro weakened against a stronger dollar on Monday amid growing concerns about a possible collapse of France’s government, stalling plans to rein in a soaring budget deficit. Meanwhile, the dollar extended its gains on strong US manufacturing data from both the Institute for Supply Management and S&P Global. But despite the generally positive indicators, Federal Reserve President Christopher Waller said Monday that he intends to lower the benchmark interest rate at his Dec. 17-18 meeting as monetary policy remains restrictive. . The dollar’s rise against a basket of currencies on Monday…