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Tyson Foods will become one of the first Fortune 100 companies to stop using the nation's traditional large pharmacy benefits managers, as it looks to cut spending on high-cost drugs. After putting its benefits contract up for bid, Tyson dropped CVS Health 's Caremark and chose PBM startup Rightway to manage drug benefits for its 140,000 employees starting this year, the companies said Wednesday. Tyson made the decision as it saw pharmacy costs soar. "We were going anywhere between 12% to 14% increases for pharmacy — and on a $200 million spend that's quite a bit. And then I wanted to understand what Tyson was paying for that; it was very difficult to get to those numbers," she said.
Persons: Tyson, Renu Chhabra, Chhabra, couldn't Organizations: Fortune, CVS
“In Bollywood movies, I think eight out of 10 times, the couple would only come together at the airport,” Chhabra tells CNN Travel. Courtesy Auckland AirportShukla, an Auckland native, lives in Melbourne, Australia, where she works for the Victoria state government. So Chhabra hatched a plan: he’d arrange for their loved ones to be at the Auckland Airport when Shukla arrived for a visit. But it was when he finally connected with Laura Platts, the Auckland Airport communications manager, that everything began to fall into place. When she landed in Auckland, Shukla realized that her luggage hadn’t arrived.
Persons: Vash Chhabra, Riiya Shukla, Chhabra, Shukla, Laura Platts, Platts, hadn’t, , ” Shukla, it’s, Melbourne, Organizations: CNN, , CNN Travel, , Shukla, Auckland, Auckland Airport, Chhabra, Melbourne - Locations: Chhabra, Auckland, Melbourne, Australia, Victoria, New Zealand, Melbourne - Auckland, India, panicking, Punjab
The U.S. has been putting pressure on the Netherlands to block exports to China of high-tech semiconductor equipment. The Netherlands is home to ASML, one of the most important companies in the global semiconductor supply chain. Instead, it makes and sells $200 million extreme ultraviolet (EUV) lithography machines to semiconductor manufacturers like Taiwan's TSMC. ASML has not been able to ship an EUV machine to China since 2019 due to various Dutch export restrictions, according to a company spokesperson. According to a Reuters report from 2020, the Dutch government withdrew ASML's license to export its EUV machines to China after extensive lobbying from the U.S. government.
The launch of Shopify Tax comes as collecting sales tax has grown increasingly complex for Shopify merchants — and for the company's e-commerce rivals, like Amazon. "The world of sales tax has gotten a lot more complicated," Lauren Stinson, a partner and national leader in sales and use tax at Cherry Bekaert, said to Insider. Sales tax rules reveal a key difference between Shopify and AmazonShopify's biggest rival, Amazon, didn't collect sales tax on its third-party marketplace sales for years. But new laws for marketplaces introduced over the last several years have changed Amazon's responsibilities regarding sales tax. Amazon — and other marketplaces like Etsy and Walmart — are now considered "marketplace facilitators," according to Diane Yetter, founder of the Sales Tax Institute and president of Yetter Tax, a sales tax consulting and education business.
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