Share to Twitter Share to Linkedin Anthem and Cigna on Friday morning announced a historic $54 billion merger that would make the new, combined company the largest health insurer in the country, by total customers. The deal's size is especially notable. (It's the largest-ever merger in the insurance industry). And the timing is remarkable. Just three weeks ago — to the day — rival insurers Aetna and Humana announced their own mega-merger , a $37 billion deal. If both deals get federal approval, America's Big Five health insurers will be winnowed to a Huge Three. So what happens next? And what will it mean for consumers? Anyone who says he knows those answers isn't worth trusting: America's health care system is in uncharted waters. First, there are real questions over whether either or both mergers will receive federal approval. The Department of Justice was already scrutinizing the Aetna-Humana deal — which now … [Read more...] about Anthem Just Paid $54B To Buy Cigna. No One Knows What Will Happen Next.
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How do you inspire a bunch of new college graduates to start their own businesses? One Atlanta entrepreneur believes giving them access to their own LLCs is a good bet. On May 14, Pinky Cole , the founder of booming restaurant chain Slutty Vegan , announced that she would give each of the 800 graduates of Clark Atlanta University, her alma mater, the ability to register a limited liability corporation, in partnership with Varo Bank, a fully digital bank. The cost of filing an LLC varies on the basis of the state; in Georgia, it's $100. On average, it costs roughly $50 to $250. "Every single graduate in this audience will leave this stadium as a business owner," she said during the school's commencement ceremony on Saturday. "I didn't have a plan, but I'm going to make sure that you do." Cole graduated from the historically Black research university in 2009 with a major in mass communication and media studies. While the now 34-year-old entrepreneur went on to … [Read more...] about This Founder Just Gifted LLCs to an Entire Graduating Class
For many investors, retirement planning represents the bulk, or even the sum total, of their investment activity. As of 2020, there were roughly 60 million active 401(k) participants, in addition to former employees and retirees. But while millions of adults in the United States contribute toward retirement, views on retirement investing and all that goes along with it are anything but uniform. Investopedia conducted a online survey of 4,000 U.S. adults to quantify Americans’ understanding of financial literacy on a generational level, from baby boomers down to Generation Z. Below, we explore some of the top findings of this survey as it pertains to retirement investing and planning. Key Takeaways A small majority of U.S. adults expect to retire, with Gen Z the most optimistic about retiring early. Two-thirds of millennials and Gen X adults are planning for retirement, as are 42% of Gen Z members. Younger generations believe that cryptocurrencies will feature … [Read more...] about Multigenerational Survey Shows How Retirement Planning Is Changing
Share to Twitter Share to Linkedin America is outraged — outraged! — that Turing Pharmaceuticals hiked the cost of a drug called Daraprim by 5,000% last month. (The drug is used to fight infections in patients suffering from AIDS and other conditions.) What took everyone so long? Turing CEO Martin Shkreli is a repeat moral offender. He pulled off similar price hikes at his previous company, before getting fired and sued for $65 million. Martin Shkreli, the CEO of Turing, says the company will cancel its planned 5,000% price hike to a ... [+] drug used to treat infections in AIDS patients. (Paul Taggart/Bloomberg.) But there's a much bigger problem than Shkreli here: The skyrocketing cost of generic drugs. It's nothing new. And it hadn't gotten much attention until this week, partly because most pharma companies aren't run by evil executives who happily explain they're making a profit by over-charging AIDS patients. Here's an … [Read more...] about Greedy Pharma CEO Cancels 5,000% Price Hike — But He Didn’t Fix The Real Problem
The huge majority of Shanghai residents who have dodged COVID have not escaped the ordeal of lockdown. China's worst COVID-19 outbreak has frayed nerves and stirred resentment among many residents of Shanghai but some have thrived in the face of adversity, stepping up with bright ideas and commitment to help their communities through the crisis. Not surprisingly, many such people have used the skills they developed in their jobs to help others navigate the frightening new world of forced quarantine and lockdowns that no one dreamed of before COVID. Li Di, a senior executive with a global bank, knew he had to help when he was admitted to the Nanhui quarantine site in April, after testing positive for COVID, and was confronted by chaos. "There were only 120 to 150 staff to take care of 10,000 patients. The staff literally had their hands full," said Li. Li set up a team of more than a dozen volunteers to arrange meals, distribute various supplies and help elderly patients … [Read more...] about How Shanghai residents are using Excel, job skills to navigate lockdown
What does it take to trigger a crash in the stock market? A once-in-a-century pandemic? The biggest war in Europe in 70 years? The US Federal Reserve instantaneously cutting off the supply of the opium of record liquidity and low interest rates? Multi-year high inflation? How about black magic? The Oxford Dictionary defines black magic as a type of magic that is believed to use the power of the devil in order to do evil. In a world where boring financial data, profit and loss statements, and complex macroeconomic events sway the everyday movement of stock prices and stock indices, one Rajkot-based stockbroker claimed last week that he spent more than Rs 8 crore to engineer a multi-day crash in the stock market with the help of esoteric black magic. Close “We are responsible to a great extent for today’s fall and the fall of the past few days in the market. You won’t believe it, but we have spent over Rs 8.5 crore today in kala jadu (black magic) to create … [Read more...] about A lone bear, black magic and a $235 billion stock market crash