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Re: Business/Markets/Stocks/Economics Random, Random

#901

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Title: UnitedHealth Under DOJ Investigation for Alleged Medicare Fraud

Body:

The U.S. Department of Justice has launched a criminal investigation into UnitedHealth Group, focusing on potential Medicare fraud. The probe examines whether UnitedHealth inflated patient diagnoses to secure higher payments from Medicare Advantage plans, a practice known as “upcoding.” This investigation follows a civil fraud inquiry into similar allegations.   

UnitedHealth, the largest provider of Medicare Advantage plans in the U.S., has denied any wrongdoing, labeling the allegations as “outrageous and false.” However, reports suggest that in 2021 alone, the company may have received an additional $8.7 billion through questionable coding practices.  

This development adds to a series of challenges for UnitedHealth, including a significant cyberattack in 2024 and the tragic death of its insurance unit CEO. 

For more details, refer to the original Wall Street Journal article: UnitedHealth Group Is Under Criminal Investigation for Possible Medicare Fraud


Note: This summary is based on publicly available information as of May 14, 2025.
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Re: Business/Markets/Stocks/Economics Random, Random

#902

Post by ti-amie »

UnitedHealth CEO steps down for ‘personal reasons’
By Jordan Valinsky, CNN
Updated 12:04 AM EDT, Wed May 14, 2025

New York
CNN

UnitedHealth Group CEO Andrew Witty is stepping down immediately from his role for “personal reasons,” the company announced Tuesday.

He will be replaced by Stephen Hemsley, the health insurer’s board chairman and former CEO from 2006 to 2017. Witty, who ran the health care giant for four years, will remain in a limited role as a senior adviser to Hemsley.

“We are grateful for Andrew’s stewardship of UnitedHealth Group, especially during some of the most challenging times any company has ever faced,” Hemsley said in a statement, adding the company has “greatly valued his leadership and compassion as chief executive and as a director and wish him and his family the best.”

Witty helped steer the company following the murder of UnitedHealthcare CEO Brian Thompson last year. UnitedHealthcare is a unit of the parent company that Witty helmed.

Thompson’s fatal shooting outside a New York hotel brought to light significant public outrage about the health insurance industry, with Witty publicly acknowledging in a New York Times essay that the US health system “is not perfect” and that coverage decisions “are not well understood.”

Witty also defended UnitedHealthcare, the company’s health insurance arm, though he acknowledged that it shares some of the responsibility for the lack of understanding about decisions on care.

Also on Tuesday, UnitedHealth Group (UNH) suspended financial outlook for the year because costs of Medicare Advantage “remained higher than expected.” The company expects to return to growth in 2026.

Last month in a call with analysts following its most recent earnings report, Witty said its “overall performance that was frankly unusual and unacceptable.” Shares that day fell more than 20%, its biggest single day drop in nearly three decades.

The stock fell nearly 11% in premarket trading on Tuesday.

https://www.cnn.com/2025/05/13/business ... 0to%202017.
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Re: Business/Markets/Stocks/Economics Random, Random

#903

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Re: Business/Markets/Stocks/Economics Random, Random

#904

Post by ti-amie »

Carl Quintanilla
‪@carlquintanilla.bsky.social‬
“.. Walmart CEO Doug McMillon had previously .. stopped short of confirming that Walmart would join” other retailers with price hikes. “He changed his tune on Thursday.”

@barrons.com
$WMT
www.barrons.com/articles/wal...

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Re: Business/Markets/Stocks/Economics Random, Random

#905

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Trump says US will unilaterally set new tariff rates for scores of countries
President says letters revealing rates will be sent out within weeks as Washington lacks capacity for individual deals

Richard Partington senior economics correspondent and Callum Jones in New York
Fri 16 May 2025 10.46 EDT

Donald Trump has said the US will send letters to some of its trading partners to unilaterally impose new tariff rates, suggesting that Washington lacks the capacity to reach individual trade deals.

Highlighting the challenge for the White House to negotiate deals with scores of countries at once, Trump said it was “not possible to meet the number of people that want to see us”.

Speaking at a meeting with business leaders in the United Arab Emirates on the US president’s tour of the Gulf, he said: “We have, at the same time, 150 countries that want to make a deal, but you’re not able to see that many countries.”

The president said that his treasury secretary, Scott Bessent, and the commerce secretary, Howard Lutnick, would be “sending letters out essentially telling” some of Washington’s trading partners what tariff rates would be imposed on their goods exports to the US market.

“At a certain point over the next two or three weeks, I think Scott and Howard will be sending letters out essentially telling people – it will be very fair – but we’ll be telling people what they’ll be paying to do business in the United States,” he said.

It was not immediately clear whether the new tariffs would be in addition to what is already in place, or higher or lower adjustments.

Trump’s comments expose the difficulty of the task the president set for his administration after imposing sweeping border taxes on goods imports from all of the US’s trading partners on his 2 April “liberation day”.

Washington has withdrawn some of its toughest measures after a backlash in the bond markets, including pausing “reciprocal” tariff rates on many trading partners, including the EU, striking a trade deal to lower tariffs with the UK, and agreeing a 90-day pause with China. A 10% universal tariff on all imported foreign goods remains.

Earlier this week, Trump hailed a “total reset” in relations between China and the US after the countries agreed the pause, which included Beijing lowering its duties on American goods to 10%, while the US tax on Chinese goods will be lowered to 30%.

The White House has signalled it is prioritising talks with dozens of the US’s largest trading partners, including India, South Korea and Japan, while negotiations with the EU are ongoing.

However, his comments suggest Washington lacks the bandwidth to negotiate with hundreds of countries at once, while indicating that the president will instead push to dictate terms.

The impact of Trump’s tariff strategy continues to materialise in the US. Executives at Walmart said this week that the US retail company will have to start raising prices later this month due to the high cost of tariffs.

The president, meanwhile, has called out American companies that are not shifting manufacturing to the US as a result of his policies. On Thursday, he admonished Apple over the tech company’s reported plans to source production of US-bound iPhones from India.

The UK-US trade deal, announced by Trump and Kier Starmer last week, prompted China to accuse Britain of aligning with the US, in a move that could compel UK companies to exclude Chinese products from their supply chains.

The Trump administration has repeatedly claimed that countries were tripping over themselves to strike agreements to lower US tariffs on their exports. It has avoided provided a list of these countries, however, and descriptions of its length have varied significantly.

More than 75 countries had been in touch, US officials claimed in April, as they sought to explain why the president had backed down the “reciprocal” rates he had claimed were here to stay.

https://www.theguardian.com/us-news/202 ... g-partners
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Re: Business/Markets/Stocks/Economics Random, Random

#906

Post by ponchi101 »

Side effect from his tariffs move.
Colombia just joined China's Belt and Road initiative, to stop being "dependent" on the US economy. I know, Colombia is an economic midget in the world's stage, but this midget is gone.
I wonder if they will start moving reserves from the dollar to the yuan.
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Re: Business/Markets/Stocks/Economics Random, Random

#907

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“Do not grow old, no matter how long you live. Never cease to stand like curious children before the Great Mystery into which we were born.” Albert Einstein
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Re: Business/Markets/Stocks/Economics Random, Random

#908

Post by ti-amie »

Carl Quintanilla‬
‪@carlquintanilla.bsky.social‬
· 35m
“.. There are many countries that may learn from China that the correct way to negotiate with President Trump is to stand firm, remain calm and force him to capitulate.”

@bloomberg.com

www.bloomberg.com/news/article...

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Re: Business/Markets/Stocks/Economics Random, Random

#909

Post by ponchi101 »

Colombia gets a lot of things from the USA. None of which cannot be obtained from Europe too.
And the main exports from Colombia to the USA do not pay tariffs anyway.
So, yep, no need to negotiate with him.
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Re: Business/Markets/Stocks/Economics Random, Random

#910

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No paywall: https://www.cnbc.com/2025/05/20/stock-m ... dates.html

Stocks sold off on Wednesday, pressured by a sharp spike higher in Treasury yields as traders grew worried that a new U.S. budget bill could put even more stress on the country’s already large deficit.

The Dow Jones Industrial Average lost 626 points, or 1.5%. The S&P 500 shed 0.9%, while the Nasdaq Composite slid 0.7%.

The 30-year Treasury bond yield last traded around 5.07%, while the benchmark 10-year Treasury note yield traded at 4.58%. Yields topped those key levels earlier in the week after Moody’s downgraded U.S. bonds late Friday.

The latest moves come as traders look to Washington as Republican leaders work to finalize a budget bill that would lower taxes. Investors also worry the measure could worsen the U.S. deficit.

“The questions now is, from a fiscal perspective, what will the tax bill look like, and will it undo all of the recent fiscal frugality by simply raising the debt level at a slower rate of pace? So I think that’s why the 10-year yield is moving higher — because investors are worried that we’re really not doing anything to slow the pace of inflation and to reduce the debt,” Sam Stovall, CFRA Research chief investment strategist, told CNBC in an interview.

“Now it seems as if there is a greater chance that the tax bill will pass, and that could end up simply continuing to raise the overall debt level,” he continued.

Treasury yields had spiked last month as worries over President Donald Trump’s tariffs dented confidence in the safe haven status of U.S. debt. The 10-year in April swung from below 3.9% to more than 4.5% in just days. Yields eased from those levels after Trump announced delays on when the levies would take effect.

UnitedHealth was the worst-performing Dow member, losing more than 5% after a downgrade from HSBC. Major tech-related stocks Apple and Amazon also dropped as rates increased.

Wednesday’s action comes after a tough session for the three major averages. The S&P 500 ended a six-day win streak, while the Nasdaq saw its first negative day in three.

The major averages have staged sharp recoveries since a sell-off last month that engulfed markets after Trump unveiled steep tariffs on imported goods. The S&P 500 and Nasdaq are up more than 14% and 19%, respectively, in the past month.

“Some [investors] are a little worried that we’ve gone too far, too fast, and are due for some digestion of recent gains,” Stovall added.
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Re: Business/Markets/Stocks/Economics Random, Random

#911

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Europe Freezes US Travel as Lufthansa, British , Air France, KLM and More Slash Routes to Major Cities Including New York, Miami, Los Angeles, and Chicago to Tap Soaring Demand Across Canada, Mexico, Brazil and Caribbean
Saturday, May 24, 2025

European airlines are freezing their transatlantic growth and pulling back from major U.S. cities like New York, Miami, Los Angeles, and Chicago as they redirect flights to Canada, Mexico, Brazil and Caribbean, where bookings are rising and demand is outpacing the American market. Carriers including Lufthansa, British Airways, Air France, KLM, Iberia, and SAS have adjusted their summer schedules to reflect shifting traveler priorities, with more passengers opting for destinations that offer smoother entry, better seasonal deals, and fewer political complications. The changes mark a clear retreat from the U.S. at a time when international sentiment is cooling and alternative routes are proving far more profitable.

The decision to reduce flights is being driven by a sharp drop in bookings, rising concerns among European travelers about safety and border restrictions, and growing political discomfort tied to President Donald Trump’s second term. Airlines that had once expanded aggressively across the Atlantic are now turning their attention elsewhere. Internal forecasts, passenger surveys, and travel agency reports across Europe point to one conclusion: fewer people are planning trips to the United States this year.

Lufthansa Cuts Flights to New York, Miami, and Chicago

Lufthansa has quietly reduced frequencies on its routes to New York, Miami, and Chicago, three of the airline’s most important U.S. destinations. According to updated schedules for summer 2025, several weekly flights have been removed compared to last year. No formal announcement has been issued, but internal flight availability data confirms the reductions.

The move comes as German travel demand to the U.S. softens. Agencies in Frankfurt and Munich report that interest in American cities has declined, with many travelers shifting their focus to southern Europe, North Africa, or Southeast Asia. Industry insiders point to a mix of reasons: higher travel costs, uncertainty around visa processing, and growing discomfort with U.S. politics. Lufthansa is redirecting wide-body aircraft to markets showing stronger forward bookings, including India, Japan, and Greece.

British Airways Withdraws from Las Vegas and Reduces Orlando

British Airways has suspended service to Las Vegas and has reduced its operations to Orlando and Philadelphia. These changes are part of a broader shift in the airline’s summer schedule. The decision follows a downturn in bookings from British travelers, especially those planning leisure trips to the United States.

In London, travel agents say customers are increasingly looking for destinations that offer a smoother experience. Long wait times at immigration, recent media reports on travel disruptions, and uncertainty surrounding U.S. policies have led to a noticeable drop in demand. Instead, there is rising interest in holiday spots within Europe and the Middle East. British Airways has already added additional flights to cities such as Athens, Malaga, and Dubai using aircraft originally scheduled for U.S. routes.

Air France Ends Seattle Route and Scales Back in Washington

Air France has discontinued its Seattle route and trimmed service to Washington D.C. for the upcoming summer. The changes have been reflected in seat availability and flight tracking tools since early April. While the airline continues to fly to New York, Atlanta, and other major hubs, its footprint in secondary American cities is clearly shrinking.

French travelers are shifting their focus. Agencies in Paris and Marseille note that customers who once chose American destinations are now opting for closer options, such as Portugal, Tunisia, and Italy. Several cited border delays and tightened entry requirements as reasons to stay away. Air France is responding to these shifts by deploying its aircraft to markets where interest remains high, including several cities across North and West Africa.

KLM Reduces Transatlantic Flights to San Francisco and Boston

KLM is cutting back flights to both San Francisco and Boston. These changes are now visible in the airline’s booking system, with fewer departures per week compared to summer 2024. The decision was made following a noticeable decline in U.S.-bound travel from the Netherlands.

Amsterdam-based agencies say American cities have fallen out of favor this year. Travelers are expressing frustration with visa delays, travel restrictions, and overall unpredictability. KLM has responded by reallocating capacity to better-performing routes in Asia and expanding European short-haul operations. Additional flights have already been added to destinations like Bangkok, Istanbul, and Split, replacing transatlantic service that has become harder to fill.

Iberia Shelves Dallas Launch and Cuts Chicago Flights

Iberia has postponed its planned launch of a new route to Dallas and reduced service between Madrid and Chicago. The airline has shifted those long-haul aircraft to other parts of its network, especially Latin America and Southern Europe, where demand remains steady or is growing.

Travel agencies in Madrid and Valencia have seen a pullback in U.S.-bound bookings, particularly among families and middle-income travelers. Some cite economic concerns, while others point to discomfort with the tone of U.S. politics and border issues. Instead of transatlantic trips, customers are booking vacations to Mexico, Colombia, and coastal cities in Spain and Portugal. Iberia is responding directly to those preferences, increasing flights to Bogota, Buenos Aires, and Lima while boosting service on key European routes.

Scandinavian Airlines Cancels Newark and Los Angeles

Scandinavian Airlines (SAS) has canceled its routes from Oslo to Newark and Copenhagen to Los Angeles. These decisions are not temporary; both routes have been removed from the airline’s summer 2025 schedule. SAS, which is undergoing a broader reorganization, made the move after demand from the Nordic region fell well below expected levels.

In Stockholm, Copenhagen, and Oslo, travel agents say interest in visiting the U.S. has dropped off sharply. Safety concerns, political developments, and travel logistics are all contributing to the trend. More travelers are booking trips within Europe, with strong demand reported for Spain, Croatia, and Greece. SAS is strengthening its presence on those routes and adding additional summer service to domestic Nordic destinations and popular leisure spots across the continent.

Data Confirms Transatlantic Downturn

The airline moves align with a broader trend backed by data. According to a new forecast from Tourism Economics, bookings from Europe to the United States for the May to July period are down 10% compared to last year. Canadian bookings for the same window are down 33%, marking a wider North American retreat.

In April alone, inbound bookings to the U.S. for May were down 9.5%. Projections for June and July show drops of 10.8% and 13%, respectively. For the full year, international arrivals to the U.S. are expected to decline by 8.7%, with a total spending loss of $8.5 billion from foreign visitors. These figures contrast sharply with previous forecasts that had assumed steady post-pandemic growth.

Bookings Collapse Across Europe as Political Sentiment Turns

According to a detailed report cited by Bloomberg, travel from Europe to the United States has fallen by 10 percent for the summer 2025 season, as growing unease with President Donald Trump’s trade policies and immigration stance dampens transatlantic interest. The data, compiled by Tourism Economics—a division of Oxford Economics—shows that international bookings to the U.S. dropped 9.5 percent year-over-year in May, with steeper declines forecast for June and July at 10.8 and 13 percent, respectively. The report also projects an 8.7 percent overall decline in international arrivals for the year and estimates a loss of $8.5 billion in foreign visitor spending. Analysts link the downturn to a combination of new tariffs on long-standing allies, well-publicized border incidents, and updated advisories from European governments cautioning travelers about the risks and difficulties of entering the United States.

Grids at the link below

https://www.travelandtourworld.com/news ... da-mexico/
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Re: Business/Markets/Stocks/Economics Random, Random

#912

Post by ponchi101 »

I mean. This guy is so dreadful that even TOURISM is being hit hard.
For a guy that owns hotels, how bad can you be?
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