Simone Del Rosario
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‘Big 3’ pharmacy benefit managers marked up drugs by $7.3B: FTC
The nation’s three largest pharmacy benefit managers (PBMs) made significant markups to “lifesaving” medications at pharmacies they owned, the Federal Trade Commission said Tuesday, Jan. 14. The preliminary report comes as PBMs face increased scrutiny and bipartisan legislation to rein them in. The “Big 3” pharmacy benefit managers marked up generic drugs filled by their… -
Inflation rises 2.9% in 2024 as consumer prices heat up heading into 2025
Inflation continued to head in the wrong direction in December. Consumer prices rose 2.9% on the year, hotter than the 2.7% rise in November. On the month, prices rose 0.4%, the highest monthly rise since February. In November, prices rose 0.3%. It’s the third month in a row the key inflation gauge rose. It’s now… -
Nvidia criticizes Biden over his new AI chip rules, praises Trump
The second most valuable company in the world is taking aim at President Joe Biden, while at the same time praising President-elect Donald Trump. Nvidia’s criticism is in response to Biden’s last minute export controls on AI chips. Nvidia’s Vice President of Government Affairs Ned Finkle called the new rules “misguided” and “sweeping overreach” in… -
Apple pushes back against pressure to end DEI policies
At least one Big Tech company is pushing against pressure to roll back policies on diversity, equity and inclusion, also known as DEI. Apple’s board is recommending investors reject a proposal to cease DEI efforts at the company. Rebuffing calls to unwind DEI would go against a recent trend seen in tech. Meta announced during… -
China floats Elon Musk as possible future owner of US TikTok: Report
Chinese officials are weighing options for TikTok as the popular short-form video app faces an outright ban in the U.S. on Jan. 19. One possible option they are discussing is selling its U.S. operations to X owner Elon Musk, according to a report from Bloomberg. The Chinese government would “strongly” prefer TikTok’s parent company, ByteDance,… -
The largest nuclear power plant operator in US to buy major natural gas producer
Constellation Energy, the largest nuclear power plant operator in the U.S., has announced its $16.4 billion acquisition of Calpine Corp., a private power company. The deal, one of the biggest in the nation’s energy sector, highlights the growing demand for electricity driven by data center operations. Goldman Sachs projected that power demands from data centers… -
Meta kills DEI programs in its latest appeal to Trump
Meta is ending its diversity, equity and inclusion programs effective immediately in the company’s latest swing away from traditionally left-leaning causes. The company announced the policy change in an employee memo first reported by Axios. “The legal and policy landscape surrounding diversity, equity and inclusion efforts in the United States is changing,” the memo reads.… -
Total estimated cost of California wildfires triples to $150 billion as blazes rage on
The estimated total cost of the destructive southern California wildfires has nearly tripled as first responders struggle to contain the largest blazes. The economic toll could reach $135 billion to $150 billion, according to experts at AccuWeather, up from their previous high estimate of $57 billion. “Hurricane-force winds sent flames ripping through neighborhoods filled with… -
US economy wows with 256,000 jobs added in December, more than expected
The U.S. economy added 256,000 jobs in December, roughly 100,000 jobs more than expected. The unemployment rate ticked down to 4.1% from November’s 4.2%. December’s jobs figure was even higher than November’s 212,000, which experts said was skewed higher by people returning to work from strikes and hurricanes. December’s Labor Department’s report appeared to be… -
California wildfires causing $57 billion in damage as providers canceled insurance
The devastating southern California wildfires could cause between $52 billion and $57 billion in economic losses, according to experts at AccuWeather. But homeowners affected have unique insurance factors in play as they try to put their lives back together. In the months leading up to the disaster, many affected homeowners lost their original insurance coverage.… -
What does Trump want with Greenland when US already has military control?
President-elect Donald Trump is threatening military and economic force against Denmark to gain control of Greenland. The autonomous territory is part of the Denmark kingdom, while the U.S. has maintained a military presence there since World War II. “We need it for national security. That’s for the free world. I’m talking about protecting the free world,”… -
Biden plans final push to limit Nvidia advanced chip exports: Report
President Joe Biden is reportedly planning one last artificial intelligence chip restriction that would hit major companies, including the second most valuable in the world, Nvidia. It’s his final push to control the spread of U.S. made chips to China and Russia before leaving office. According to Bloomberg, the restrictions are expected to have a… -
CFPB sues Warren Buffett-backed mortgage lender for ignoring ‘red flags’
The Consumer Financial Protection Bureau filed a lawsuit against a mortgage lender owned by Warren Buffett’s Berkshire Hathaway. The watchdog alleges Vanderbilt Mortgage and Finance steered customers to buy manufactured homes they couldn’t afford. Vanderbilt Mortgage and Finance is a subsidiary of Clayton Homes, the nation’s largest builder of manufactured homes. Clayton Homes is a…
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Hunter Schafer’s passport identifies her as male following executive order
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Diddy’s defense attorney abruptly requests withdrawal from case
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Trump fires Air Force Gen. CQ Brown as chairman of Joint Chiefs of Staff
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Trump restricts Chinese investment in American ‘critical strategic assets’
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MLB Spring Training: Can the Yanks hold off the O’s, Sox and Jays once again?
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