The Federal Trade Commission (FTC) is taking legal action against three major U.S. health companies for their role as middlemen in negotiating prices for medications, particularly insulin. The lawsuits are aimed at UnitedHealth Group’s Optum Rx, CVS Health’s Caremark, and Cigna’s Express Scripts, all of which are connected to health insurers and play a significant
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Costco, the popular membership-based warehouse club, recently announced that it will be raising its membership fees in both the U.S. and Canada effective September 1. This increase will see annual memberships go from $60 to $65, while its higher-tier “Executive Membership” will increase from $120 to $130. The fee hike will impact approximately 52 million
Walmart recently announced plans to open five automated distribution centers for fresh food in an effort to enhance efficiency and improve its online grocery business, as reported by CNBC. The retail giant’s decision to invest in these new facilities highlights its commitment to keeping up with the evolving needs of consumers who are increasingly opting
Athletic Brewing Company, a leading nonalcoholic brewer, recently announced a significant milestone in its journey. The company has secured an additional $50 million in equity financing in a round led by General Atlantic. This new capital injection will fuel the company’s ambitions to increase production capacity and expand its offerings in global retailers to cater
The recent agreement between Paramount Global and Skydance signifies a significant shift in ownership for the storied movie studio and media company. The Redstone family, who has long been in control of Paramount, has agreed to step away from their leadership role in the company. The merger, which involves a buying consortium led by RedBird
The summer of 2023 has brought record air travel demand to the United States, but unfortunately, this surge in demand has not translated to record profits for U.S. airlines. Even though some carriers have anticipated record demand and revenue, various factors have been playing against them, resulting in a lack of significant growth in their
Boeing has recently come to an agreement in which it will plead guilty to criminal fraud related to the tragic 737 Max crashes. This decision has significant implications for the U.S. aerospace giant, as it will now be considered a felon. However, by accepting this plea deal, Boeing will be able to avoid a trial
The semiconductor industry is currently facing a tight labor market, with competition for talent on the rise. This has been further exacerbated by the funding received from the CHIPS and Science Act, aimed at boosting domestic production. Studies have shown that the U.S. chips industry is projected to experience a shortage of 67,000 technicians, computer
HBC, the parent company of Saks Fifth Avenue, announced a significant move in the retail industry by acquiring Neiman Marcus Group in a deal worth $2.65 billion. This acquisition will bring together two iconic luxury retailers, creating Saks Global. The newly formed entity will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus’ department stores,
The hot dog eating world has a new champion, and his name is Patrick Bertoletti. This year’s Nathan’s Hot Dog Eating Contest saw a change in the tide after Joey Chestnut’s departure from the event. The 16-time winner had a falling out with Major League Eating, the organizers of the competition, leading to a more