A federal judge on Monday blocked the merger of two of the largest health insurers in the country on antitrust grounds. Judge John Bates of the U.S. District Court for the District of Columbia ruled that the merger of Aetna and Humana would unacceptably cut down competition in Medicare Advantage and in the ObamaCare marketplaces…
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City Devastated by OxyContin Use Sues Purdue Pharma, Claims Drugmaker Put Profits over Citizens’ Welfare…
A Washington city devastated by black-market OxyContin filed a first-of-its-kind lawsuit against the painkillers’ manufacturer Thursday, alleging the company turned a blind eye to criminal trafficking of its pills to “reap large and obscene profits” and demanding it foot the bill for widespread opioid addiction in the community…
U.S. Government Caught Massively Fabricating Student Loan Default Data…
The Education Department released a memo saying that it had overstated student loan repayment rates at most colleges and trade schools and provided updated numbers. This also means that the number of loan defaults in various cohorts is far greater than previously revealed.
IMF’s Lagarde Urges Wealth Redistribution To Fight Populism…
As we scoffed oveernight, who better than a handful of semi, and not so semi, billionaires – perplexed by the populist backlash of the past year – to sit down and discuss among each other how a “squeezed and Angry” middle-class should be fixed…
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Canada Given Advance Notice of Trump’s NAFTA Demands…
Billionaire investor Wilbur Ross, chosen by U.S. president-elect Donald Trump to reshape U.S. trade policy, has informed Canada that rules of origin and independent dispute tribunals will be central to talks aimed at resetting the North American free-trade agreement…
The Davos Disconnect…
Six charts show why the people who are changing today’s world don’t care about the World Economic Forum. Never before has the gap between Davos Man and the real world yawned so widely. The top executives, financiers, academics and politicians making their way up the mountain to the World Economic Forum will be talking a […]
UnitedHealth Group CEO’s Compensation Was $66.13 Million Last Year…
UnitedHealth Group CEO Stephen J. Hemsley received $66.13 million in compensation last year, according to a preliminary proxy statement filed Monday with the U.S. Securities and Exchange Commission. In 2013, he received $28.14 million…
Spotted In Davos: Anti-Drone Guns…
By now we are used to images of snipers on hotel rooftops protecting the world’s great-est-and-good-est from the evils of average-joe-ness. But this year it appears there is a new foe – the drone – and a new weapon to tackle it: the anti-drone gun…
GM to Invest $1B in U.S., Add Jobs…
General Motors Co., days after being called out by President-elect Donald Trump for expanding operations in Mexico, plans to announce U.S. investments totaling at least $1 billion that would create more than 1,000 jobs, two people with knowledge of the plan said late Monday…
Hyundai-Kia to Invest $3.1 Billion in U.S., Mull New Plant…
Hyundai Motor Co. and affiliate Kia Motors Corp. said they will spend $3.1 billion in the U.S. in the next five years, joining other vehicle manufacturers in announcing investment plans amid threats from President-elect Donald Trump of higher levies on auto imports from Mexico…
Highlights From Xi Jinping’s Davos Speech: Attacks Protectionism, Praises Free Trade, No Intention To Devalue Yuan…
In a speech that struck all the right platitudes with this pro-globalization audience, Xi Jinping, the first Chinese president to attend Davos, slammed protectionism, defended globalization and free trade, drawing a line between himself and Donald Trump…and said he has no intent to boost China’s competitiveness through Yuan devaluation…
Obama Slashes Mortgage Insurance Premiums For Subprime Borrowers With Just 10 Days Left In Office…
Cory Booker Joins Senate Republicans to Kill Measure to Import Cheaper Medicine From Canada…
Bernie Sanders introduced a very simple symbolic amendment Wednesday night, urging the federal government to allow Americans to purchase pharmaceutical drugs from Canada, where they are considerably cheaper. Such unrestricted drug importation is currently prohibited by law. The policy has widespread support among Americans: one Kaiser poll taken in 2015 found that…
Thinking about Having a Child? Gov’t Estimates $233,610 Raising A Child Born In 2015…
Thinking about having a child? Check your balance sheet. The Department of Agriculture estimates that an infant born in 2015 to a middle-income, married-couple family will end up costing between $12,350 and $13,900 each year — or $233,610 from birth to age 18…
U.S. To Sell First 8 Million Barrels From Strategic Reserves…
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Alibaba Hopes to Create 1 Million U.S. Jobs…
“We’re focused on small business,” Ma told reporters. “We specifically talked about … supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products — agriculture products and America services — to China and Asia, because we’re pretty big in Asia”…
FBI Arrests Volkswagen Exec Charged with Conspiracy to Defraud the U.S….
Oliver Schmidt, who headed [VW] regulatory compliance office in the U.S. from 2014 to March 2015, was arrested on Saturday by federal investigators in Florida. In 2015, Mr. Schmidt acknowledged the existence of a so-called defeat device that allowed Volkswagen cars to cheat emissions tests…
Analysis: GM Lied to the Public & Trump On Vehicles Made in Mexico…
On Tuesday, president-elect Trump tweeted about General Motors, stating the GM was building its Chevrolet Cruze in Mexico, importing them to the US tax-free, and selling them at US car dealers. GM quickly denied Trump’s tweet. But auto enthusiast E.W. Niedermeyer sheds light on some facts of GM’s tall tale…
‘Audit the Fed’ Bill Gets New Push…
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My Political-Financial Road Map for 2017 by Nomi Prins…
The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet. My prognosis is for more destabilization, financially and politically. In other […]
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