(Reuters) – Shares of companies owning pharmacy benefit managers fell on Wednesday after the introduction of a bipartisan bill that would force health insurers or drug middlemen to divest their pharmacy businesses. CVS Health’s Caremark, Cigna’s Express Scripts and UnitedHealth Group’s Optum control the majority of pharmacy benefit management (PBMs) in the US, while their […]
Trump’s NASA pick says his future SpaceX missions “a question mark”
ORLANDO (Reuters) -U.S. President-elect Donald Trump’s pick for NASA administrator, tech billionaire Jared Isaacman, said Wednesday that the private astronaut missions he has planned with Elon Musk’s SpaceX “may wind up on hold for a moment,” as he prepares to enter government service leading the U.S. space agency. “The future of the Polaris program is […]
Wall Street mostly upbeat on GM’s decision to pull the plug on Cruise
By Nora Eckert and David Shepardson DETROIT (Reuters) – General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker’s decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030. The largest […]
Google-parent Alphabet hits record high after Trump taps Andrew Ferguson as FTC chair
By Harshita Mary Varghese (Reuters) – Alphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency. Trump tapped Ferguson on Tuesday to replace Lina Khan, whose term as FTC chair has […]
BofA CEO says business outlook is brighter under Trump, expects surge in banking, trading revenue
By Saeed Azhar, Lananh Nguyen and Arasu Kannagi Basil (Reuters) – Bank of America expects regulatory changes under President-elect Donald Trump to favor mergers and acquisitions among companies, including banks, CEO Brian Moynihan said on Wednesday. “Regulatory changes will be favorable for the ability to get deals done,” Moynihan told investors at the Goldman Sachs […]