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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.

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

In a highly volatile session on May 18, the Nifty ended flat amid mixed a trend on the sectoral front. The index opened above 16,300, extending the previous day’s gains but failed to hold on to the intraday gains to end marginally lower, forming a small-bodied bearish candle on the daily scale. It closed 19 points, or 0.12 percent, down at 16,240.30. The index has to hold above 16,250, for an up move towards 16,442 and 16,666, whereas supports shift higher to 16,161 and 16,061 zones, experts said. "The near-term trends shall remain positively biased in favour of bulls as long as the index sustains above 15,900 levels. In such a scenario, on resumption of the up move, the index can test its 20-day simple moving average, whose value is around 16,635 levels," Mazhar Mohammad, Founder & Chief Market Strategist, Chartviewindia.in, said. Weakness in the short-term support zone of 16,200–150 levels shall be an opportunity to go long with a stop below 15,900, he said. Close … [Read more...] about Technical View | Nifty forms bearish candle; 15,900 is the level to watch

Amazon.com, Inc . ( AMZN ) has rolled out several enhancements to its Amazon Web Services (AWS) cloud computing offering that are designed to enhance its utility to a wide range of customers. In particular, AWS is focused in 2022 on enabling many organizations—including startups, large enterprises, and government agencies—to become more agile and innovate more rapidly at lower cost. During the AWS Summit in San Francisco on April 21, 2022, Swami Sivasubramanian, vice president of data, analytics, and machine learning services at AWS, offered details on several new product offerings. The innovations that he described range across several service categories, including databases, machine learning, the Internet of Things (IoT) , and application development. Key Takeaways Amazon Web Services (AWS) announced six major enhancements on April 21, 2022. Two increase flexibility and lower costs for AWS users. One makes creating digital twins easier. One facilitates … [Read more...] about Amazon (AMZN) Rolls Out Web Services (AWS) Innovations

- A + A (May 18): Asian sponsors of blank-check firms are facing a tough market for initial public offerings wherever they turn, as a combination of increasing regulatory scrutiny and fading investor demand shutters the window for new listings from the US to Asia. In the past three months, at least six Asia-related special purpose acquisition companies seeking a combined $1.3 billion from US IPOs have been scrapped, according to data provider SPAC Research. Of 12 blank-check firms that have filed to go public in Hong Kong, only one has actually started trading. It’s a similar pattern in Singapore, where SPACs have stalled after three inaugural IPOs in January. “The global IPO market has obviously been very quiet so far this year,” Paul Uren, JPMorgan Chase and Co.’s Asia Pacific head of investment banking, said in an interview with Bloomberg TV. “What we need to see for that to change is lower volatility and investors with more of a risk-on mentality.” Asia was … [Read more...] about Asia’s SPAC Hopefuls Have Nowhere to Turn As IPO Market Shuts

MRT Corp chief executive officer Datuk Mohd Zarif Hashim (The Edge filepix by Sam Fong) - A + A JOHOR BAHRU (May 18): The Johor Bahru-Singapore Rapid Transit System (RTS) Link project is expected to play a major role in boosting economic activities, potentially becoming as huge as the Hong Kong-Shenzhen Western Corridor. Mass Rapid Transit Corporation (MRT Corp) chief executive officer Datuk Mohd Zarif Hashim said the RTS Link project’s value cannot be measured only from the point of view of its construction, as it should also take into account how it would be able to attract investments in the long run. “Investments made by the government should provide returns in the short and long term, so we are letting the people around the world know that there are plenty of opportunities to invest in Johor Bahru due to this RTS project. “Our wish is that one day the Johor Bahru-Singapore corridor will be a rival or match to the Shenzhen-Hong Kong corridor…that’s what we … [Read more...] about RTS Link can be as big as Hong Kong-Shenzhen Western Corridor

- A + A (May 18): Asian sponsors of blank-check firms are facing a tough market for initial public offerings wherever they turn, as a combination of increasing regulatory scrutiny and fading investor demand shutters the window for new listings from the US to Asia. In the past three months, at least six Asia-related special purpose acquisition companies seeking a combined US$1.3 billion from US IPOs have been scrapped, according to data provider SPAC Research. Of 12 blank-check firms that have filed to go public in Hong Kong, only one has actually started trading. It’s a similar pattern in Singapore, where SPACs have stalled after three inaugural IPOs in January. “The global IPO market has obviously been very quiet so far this year,” Paul Uren, JPMorgan Chase and Co’s Asia Pacific head of investment banking, said in an interview with Bloomberg TV. “What we need to see for that to change is lower volatility and investors with more of a risk-on mentality.” Asia was … [Read more...] about Asia’s SPAC hopefuls have nowhere to turn as IPO market shuts

- A + A KUALA LUMPUR (May 18): Cahya Mata Sarawak Bhd (CMS) posted a 7.42% drop in net profit for the first quarter ended March 31, 2022 (1QFY22) to RM72.02 million, from RM77.8 million a year ago, despite an improvement to its quarterly revenue. The group’s filing on Wednesday (May 18) showed that its quarterly revenue had climbed 5.93% to RM214.04 million in the quarter under review versus RM202.06 million in the previous corresponding quarter. The group attributed the lower net profit to higher tax expenses recognised in relation to higher taxable income from its divisions. It noted that its 1QFY21 earnings also included one-off gains from the disposal of Kenanga Investment Bank Bhd (KIBB) shares — amounting to RM28.52 million — and disposal of land and investment properties — amounting to RM16.99 million. Meanwhile, CMS attributed the improved revenue to higher revenue contributions from its cement and road maintenance divisions of 7% and 36% respectively. … [Read more...] about Cahya Mata Sarawak 1Q net profit down 7.42% on higher tax expenses

- A + A KUALA LUMPUR (May 18): Lion Posim Bhd is forming an unincorporated joint venture (JV) to undertake a mixed residential and commercial development in Shah Alam, with a gross development value of RM867 million. The group, via its unit Lion Posim Waterfront Sdn Bhd on Wednesday (May 18) entered into a conditional development agreement with a unit of Selangor Menteri Besar Inc, Landasan Lumayan Sdn Bhd, for the development on a parcel of land to be alienated by the Selangor State Government to Landasan Lumayan, measuring approximately 26.29 acres in Section 24, Shah Alam. “The land is accessible via Federal Highway, Lebuhraya Kemuning Shah Alam (LKSA) and Konsortium Expressway Shah Alam Selangor (KESAS) and has a long river frontage of Sungai Klang and is mostly surrounded by low and medium-end housing. The area is densely populated, which is suitable for residential development. Currently, there are no new developments of residential and commercial properties in … [Read more...] about Lion Posim forms JV with Selangor government for mixed residential development in Shah Alam

One of the busiest TV personalities in the Korean entertainment scene right now, singer and rapper Jessi has finally returned as a musician with her new single Zoom . Recently, Jessi conducted an online media showcase in Seoul to give a peek into how the song came out. Returning after six months with a new song, Jessi said: “I feel like it’s been much longer, but in terms of promoting my songs, it’s been around a year since What Type Of X .” The Korean American rapper’s first release of 2022, Zoom is a trap hip-hop tune that draws on the reality of people obsessing over capturing every moment on camera. “The producing was done in no time. It took around two days to finish producing it,” she said, adding, “It’s a feel-good song, just as with all my other songs, and this one also comes with several parts that will make you hum along.” She took part in writing the lyrics of Zoom , collaborating with Psy – her label chief and the singer of the 2013 global megahit Gangnam … [Read more...] about South Korean hip-hop artiste Jessi zooms back into action