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And they are driving up drug costs for millions of people, employers and the government. The three largest pharmacy benefit managers, or P.B.M.s, act as middlemen overseeing prescriptions for more than 200 million Americans. They are owned by huge health care conglomerates — CVS Health, Cigna and UnitedHealth Group — and are hired by employers and governments. The job of the P.B.M.s is to reduce drug costs. Most Americans get their health insurance through a government program like Medicare or through an employer, which pay for two different types of insurance for each person.
Organizations: CVS, New York Times
US stocks finished the week higher even as the AI trade showed signs of exhaustion. Some economists are calling on the Fed to cut interest rates in July as the risk of a recession grows. AdvertisementUS stocks closed mixed on Friday but finished the week higher even as the artificial intelligence trade showed signs of stumbling. Leading the market higher this week was the Dow Jones Industrial Average, which was up nearly 2%. The S&P 500 and Nasdaq 100 finished the week higher by about one-half of a percent.
Persons: Dow Jones, , Claudia Sahm, Sahm, I'm Organizations: Nasdaq, Service, Dow Jones, Nvidia, Broadcom, Dell, Federal Reserve, CNBC
US stocks moved slightly lower on Friday following a sharp reversal in tech stocks on Thursday. AdvertisementThe AI-fueled tech rally showed signs of exhaustion, with the stalwart Nvidia experiencing a near 7% swing in Thursday's trading session, rising as much as 3% before it finished the day lower by 3.5%. Other AI tech darlings saw sharp reversals and moved lower on Thursday, with those losses spilling over into Friday's trading session. There is rising inventory and a perceived drop in traffic that is recessionary in its level," GlobalData TS Lombard said on Thursday. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:AdvertisementHere's what else is going on today:In commodities, bonds, and crypto:
Persons: GlobalData, Lombard Organizations: Nvidia, Dell, Broadcom, Micro, Federal Reserve Locations: Here's
Former President Donald J. Trump’s defense team tried on Friday to persuade the judge overseeing the national security documents case to dismiss the indictment, pushing a long-shot argument that the special counsel, Jack Smith, was not properly appointed. Such defense motions are routinely denied in federal cases involving special counsels. But the judge presiding over this case, Aileen M. Cannon, has given Mr. Trump’s request extra import by holding hearings and allowing three outside lawyers time in court to make additional arguments about whether there is a constitutional mechanism for naming special counsels. “The text of these statutes really matters,” said Emil Bove, one of Mr. Trump’s lawyers. He also argued that Mr. Smith should have been confirmed by the Senate because his position is so powerful.
Persons: Donald J, Jack Smith, Aileen M, Cannon, Judge Cannon, , Mr, Trump’s, , Emil Bove, Smith Organizations: Senate
“Stop wearing sunscreen,” says a TikTok influencer with 1.6 million followers and 36 million likes. “The sun does not cause skin cancer,” insists a TikTok pundit with 76,000 followers in a post that has been bookmarked nearly 4,000 times. “Vitamin D can still be generated when you’re wearing sunscreen,” Andrews said. “Since sunscreen came out, the rise of skin cancer has only gone up and up,” says one TikTok influencer. So the driving force is exposure years and years ago, not the increased use of sunscreen today.”Many social media posters use a nugget of truth and then twist it, experts say.
Persons: , I’ll, It’s, Kathleen Suozzi, “ It’s, ” Suozzi, “ You’ll, you’ll, Gen, David Andrews, ” Andrews, today’s, Kelly Olino, we’d, , Connie Chen, CNN That’s, ” Olino, , Suozzi, Andrews, overexposure, it’s, dermatologists, That’s, influencer, you’d, ” EWG’s Andrews Organizations: CNN, Skin Cancer Foundation, Yale School of Medicine, US Centers for Disease Control, Environmental, Yale Cancer Center, Social Locations: New Haven , Connecticut, melanomas
CNN —David DePape, the man convicted in federal court for violently attacking House Speaker Emerita Nancy Pelosi’s husband, Paul, has been convicted of five charges in state court. The verdict comes as DePape already faces a 30-year sentence from his conviction last year in connection with the October 2022 attack. In court Friday, DePape showed no visible reaction as the verdict was read, and his lawyer later said they intend to appeal the case. DePape was convicted in federal court last November for assault on the immediate family member of a federal official and attempted kidnapping of a federal official in connection with the attack. “I’m telling him, ‘I have other targets, but if you stop me, I’ll go through you,’” DePape said, recounting a conversation with Paul Pelosi.
Persons: David DePape, Nancy Pelosi’s, Paul, DePape, Harry M, Dorfman, Adam Lipson, “ He’s, ” Lipson, “ It’s, Aaron Bennett, Nancy Pelosi, Pelosi, Nancy Pelosi ”, Paul Pelosi, , , , I’ll, ” DePape, Gypsy Taub, DePape’s, Taub, CNN’s Piper Hudspeth Blackburn Organizations: CNN, San, , Federal, Court Locations: California, San Francisco, Francisco County
A Southwest Airlines plane descended prematurely on Wednesday over Oklahoma City, startling residents miles from the airport, before regaining altitude and then landing safely. The plane then ascended again to about 3,000 feet before landing successfully at its planned destination, Will Rogers World Airport, at 12:16 a.m. local time. An automated warning was triggered by the low altitude, and an air traffic controller alerted the pilots, the Federal Aviation Administration said in a statement. “Southwest 4069, low altitude alert. You good out there?” the controller can be heard saying in a recording from LiveATC.net provided to The Oklahoman newspaper.
Persons: Will Rogers, LiveATC.net Organizations: Southwest Airlines, Oklahoma City, Boeing, Associated Press, Federal Aviation Administration, Oklahoman Locations: Las Vegas, Oklahoma
First, Vladyslav stopped going into Kyiv’s city center to avoid draft officers checking papers. Then he stopped exercising at the gym because of patrols in his neighborhood. Now, he spends most of his days holed up in his apartment, often using his binoculars to watch officers serving draft notices to commuters leaving a nearby subway station. “They’re everywhere now,” said Vladyslav, 45, who, like other Ukrainians in hiding interviewed for this article, requested that his last name not be published. “I’ll try to avoid getting caught,” he said, “but I’m not sure it’s possible.”As Russian forces are on the attack across the front line, the Ukrainian military has been desperately trying to replenish its war-battered forces, embarking on a large-scale mobilization campaign backed by new laws.
Persons: Vladyslav, , “ I’ll, I’m Locations: Kyiv’s
My parents, who still live in the US, always talked about how much we could save if I went to university in Australia. AdvertisementIn Australia, I've benefited from financial support from my parents and partner. I don't pay rent or utilities except for WiFi. I don't think my job outcome would have been as good if I were in the US. My parents plan on coming back to Australia when they retire, so I am very much looking forward to that.
Persons: , Aolin Xu, I've, I, they're, Australia doesn't, Ernst & Young Organizations: Service, Business, University of New, UNSW, Australian, US, Ernst & Locations: Australia, Washington, Canada, America, University of New South Wales, Sydney, Bali, Malaysia, EY
Baker is an example of a Gen Z boss who is setting a new standard for productivity by prioritizing her team's mental health and work-life balance. Related storiesLike Hodgson, Winsbury never worked for anyone else and has never even been to a job interview. "We're also constantly pushing our team to make sure that they are having a life outside of work," Winsbury said. Fellow Gen Zers, he said, can be frustrating to work with because they have been conditioned to be impatient. Hodgson said Gen Zers "get a bad name" for being work-shy, but he doesn't think that's the whole story.
Persons: , Raven Baker, Baker, X, who's, Raven Baker Oliver Hodgson, Hodgson, he's, Oliver Hodgson, Darren Robinson, Sam Winsbury, Winsbury, it's, We're, Daniel Hambury Jessie Urvater, Margot Adams, Jessie Urvater, Jessie Urvater Michelle Enjoli, Enjoli, Zers, I'm Organizations: Service, Business, Kurogo
I traveled to my first Art Basel, an international art fair hosted each summer in Basel, Switzerland. Collectively, this made up Art Basel, the world's premiere art show, where more than 250 gallerists feature 4,000 artists. Photo Basel and the Liste Art Fair Basel are hosted on the same weekend. Clara Tuma for BIBefore arriving in Basel, the art fair felt vaguely familiarI can't pinpoint the first time I heard about Art Basel. Growing up in Florida, I'm sure I heard murmurs about Art Basel Miami, one of the four locations where Art Basel fairs are held each year.
Persons: , Paloma Varga Weisz, Gordon Parks, Pat Steir, Clara Tuma, could've, I'm, David Zwirner, Joan, Serena Williams, Julio Le Parc, Ryan Gander, Keith Haring, Francisco Sierra's, Alfredo Jaar's, Seba Calfuqueo, gallerists, crosse, Beyeler, Agnes Denes, Basel's, Mandy El, Eric Hattan, Eric Hattan's Organizations: Art Basel, Service, Art, BI, Liste Art Fair, Basel, Art Basel Miami, FDR, New, Botanical, tote Locations: Basel, Switzerland, Art Basel, Swiss, Art, Florida
CNN —Angel Reese set a new WNBA record by becoming the first rookie in history to record seven consecutive double-doubles. Only two-time MVP A’ja Wilson is averaging more rebounds per game than Reese. It was a comfortable wire-to-wire win for the Sky, who led by as much as 22 points in the third quarter. The Wings made a run to close the gap to nine points in the fourth but never looked like getting within striking distance. Marina Mabrey and Chennedy Carter finished with a team-high 19 points each for the Sky, while rookie Kamilla Cardoso finished a point shy of a double-double with nine points and 11 rebounds.
Persons: Angel Reese, ” Reese, , ” Candace Parker, Reese, A’ja Wilson, Marina Mabrey, Chennedy Carter, Kamilla Cardoso, Arike Ogunbowale, Caitlin Clark’s Indiana Organizations: CNN, LSU, Chicago Sky, Dallas Wings, ESPN, Sky, Wings, Washington Mystics Locations: Chicago
Overpaying for Medicine
  + stars: | 2024-06-21 | by ( Reed Abelson | Rebecca Robbins | ) www.nytimes.com   time to read: +1 min
But there’s another reason: middlemen known as pharmacy benefit managers, or P.B.M.s. But in their quest for higher profits, they are quietly driving up prescription drug costs. Your pharmacy benefit manager is often invisible to you unless you’re having trouble filling a prescription. (You probably rely on one of the big three: CVS Health’s Caremark, Cigna’s Express Scripts or UnitedHealth Group’s Optum Rx.) Today, we published a story about these companies, how they affect drug spending and how they amassed so much control with so little transparency.
Persons: you’re Organizations: Cigna’s
Tracking a Single Day at the National Domestic Violence Hotline
  + stars: | 2024-06-21 | by ( ) www.nytimes.com   time to read: +15 min
Tracking a Single Day at the National Domestic Violence Hotline They call from work, to avoid being overheard, or from home before someone returns. The legal battles have underscored the pervasiveness of domestic violence and the strains on existing support for survivors. To capture a snapshot of the experiences of domestic violence survivors, The New York Times observed some of the calls and messages the hotline received in one day. Congress approved creation of a national hotline dedicated to domestic violence in 1994, including it in the landmark Violence Against Women Act. Josie Slawik, who began working to support domestic violence survivors after she arrived at an El Paso shelter, was there when the hotline took its first call in 1996.
Persons: I’m, Spikes, , Isadora Kosofsky, , Katie Ray, Jones, , it’s, Jose Tobias, “ It’s, Mr, Tobias, Hannah Tucker, Josie Slawik, Slawik, ” Ms Organizations: National, Staff, The New York Times, New York Times, The Times, Young, Seattle, The New York, Research, Fifth Circuit, Appeals Locations: New Orleans, California, New York, New England, Texas, Latina, Austin , Texas, Michigan, Alabama, Mississippi, Louisiana, North Carolina, You’re, El Paso
CNN —Robert Winnett, the British journalist who was slated to take over as executive editor of The Washington Post, will no longer join the newspaper. Washington Post publisher Will Lewis broke the news to newspaper staffers in a memo Friday morning. “It is with regret that I share with you that Robert Winnett has withdrawn from the position of Editor at The Washington Post. After a scathing report from Washington Post staff, Robert Winnett will remain at the Daily Telegraph and will not join the Post as its new editor. Spokespersons for the Telegraph and The Washington Post did not immediately comment.
Persons: Robert Winnett, Will Lewis, Rob, ” Lewis, , Winnett, , Chris Evans, “ I’m, Rob Winnett, ” “, Matt Murray Organizations: CNN, The Washington Post, . Washington Post, The Telegraph Media, Washington Post, Daily Telegraph, LinkedIn, Post, London’s Telegraph, Telegraph Locations: British
Prosecutors in Manhattan said on Friday that a judge should extend major elements of a gag order that was placed on Donald J. Trump, citing dozens of death threats made to District Attorney Alvin L. Bragg and other officials. The order, issued before Mr. Trump’s Manhattan criminal trial began in mid-April, bars him from attacking witnesses, jurors, court staff and members of the family of the judge who presided over the trial, Juan M. Merchan. It does not prohibit Mr. Trump from criticizing Mr. Bragg, Justice Merchan or the trial itself. In a 19-page filing on Friday, prosecutors argued that Justice Merchan no longer needed to enforce the portion of the gag order relating to trial witnesses, but they said he should keep in place the provisions protecting jurors, prosecutors, court staff and their families. The New York Police Department has logged 56 “actionable threats” since the beginning of April directed against Mr. Bragg, his family and staff members in his office, according to an affidavit provided with the filing.
Persons: Donald J, Trump, Attorney Alvin L, Bragg, Trump’s, Juan M, Justice Merchan, Merchan Organizations: Attorney, The New York Police, Mr Locations: Manhattan
Two people were killed and eight others injured in a shooting on Friday morning at a grocery store in Fordyce, Ark., the police said. A shooter opened fire at the Mad Butcher grocery store in Fordyce in Central Arkansas about 11:30 a.m., the Arkansas State Police said in a statement. The shooter, whose name was not released, was shot by the police and critically injured before being taken into custody, the police said. Eight people, including a law enforcement officer, were injured in the shooting. The officer had injuries that were not life-threatening.
Persons: Mad Butcher Organizations: Mad, Arkansas State Police Locations: Fordyce, Ark, Central Arkansas
Traders work on the floor of the New York Stock Exchange during morning trading on Feb. 29, 2024. Michael M. Santiago | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayGet the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. SubscribeThe bottom line
Persons: Michael M Organizations: New York Stock Exchange, Santiago, CNBC
Carlsberg shares were on course for their largest single-day decline in more than four years on Friday, after the British soft drinks maker Britvic said it had rejected the Danish brewer's £3.11 billion ($3.9 billion) takeover proposal. This is the company's largest single-day share drop since March 12, 2020, when stock fell 8.77%. Earlier in the session, Britvic announced it had on June 17 refused an improved cash takeover bid from Carlsberg offering 1,250 pence per share of the British soft drinks maker. This was Carlsberg's second bid, after its June 6 offer price of 1,200 pence per Britvic share was also declined. Carlsberg confirmed the rejection of its second proposal, which it qualified as "a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation."
Persons: Britvic Organizations: Carlsberg, PepsiCo Locations: London, Danish, Britain
The most important thing to remember when traveling is your routine, according to Daley. Tom Daley attends the GQ Men Of The Year Awards 2023. Mike Marsland/Contributor/WireImageDaley, 30, told Business Insider that the most important thing when traveling is to try to maintain some kind of routine. "When I was younger, traveling when you're 10 to 15 years old, you don't really have many issues," he said. Being able to stick to the routine, being able to know what you're going to be doing, when, it's all about the consistency," he said.
Persons: Daley, Tom Daley, Mike Marsland, WireImage Daley, I've, you'll
I was not interested in my dad's college, Purdue, because it lacked a humanities focus. I asked to visit Ball State University in Muncie, Indiana, because I had heard good things about the midsize college. AdvertisementI was irritated and surprised but still wanted to visit Ball State. Ball State lacked the national ratings of the other schools but was renowned for several programs, including one that interested me. I fell in love with Ball StateI attended a summer high school journalism workshop at Ball State, which clinched the deal for me.
Persons: , impatiently, Aren't, we've, Amy, David, Dorothy, Oz, Tom K, Ryan, Jim Davis, Garfield, I'm, I've Organizations: Service, Business, Purdue, Indiana University, Ball State University, Big Ten, Ball State, Ball, Indiana Locations: Minnesota, mater, Muncie , Indiana
Some venues have already sold out of original tickets, but verified resellers, including StubHub and Vivid Seats, have many tickets available. Here's what fans need to know about how to buy Alan Jackson concert tour tickets. How to buy tickets for Alan Jackson 2024 concert tourWith ticket sales beginning on June 7, Alan Jackson's Last Call tour still has original tickets remaining for multiple locations. How much are Alan Jackson tickets? With the singer's neurological condition causing a gap in the Last Call Tour dates, it is unknown whether Jackson will announce further dates and locations.
Persons: Alan Jackson, Charcot, Marie, Jackson, We've, Alan Jackson's, StubHub, tacking Organizations: Business, CMT, UT, TicketMaster, CMT Research Foundation Locations: Boston, Rapids, MI, Fayetteville, Kansas City, Salt Lake City, Oklahoma, Fort Worth , TX, Orlando, Tampa, Milwaukee, Fort Worth , Texas
Robert Winnett, the editor selected to run The Washington Post, will not take up that position, after reports raised questions about his ties to unethical news gathering practices in Britain. Mr. Winnett will stay at The Daily Telegraph, where he is the deputy editor, according to emails sent on Friday to employees of the London-based newspaper and to staff at The Post. “I’m pleased to report that Rob Winnett has decided to stay with us,” read a message to Telegraph employees from the newspaper’s top editor, Chris Evans. “It is with regret that I share with you that Robert Winnett has withdrawn from the position of editor at The Washington Post,” Mr. Lewis wrote. “Rob has my greatest respect and is an incredibly talented editor and journalist.” He said that The Post would run a search to fill that role.
Persons: Robert Winnett, Winnett, “ I’m, Rob Winnett, , Chris Evans, , ” Will Lewis, ” Mr, Lewis, “ Rob Organizations: Washington Post, Daily Telegraph, The, The Washington Post Locations: Britain, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. NSA hacker weighs in on CDK's plan to pay ransom in cyberattack that shut down car dealershipsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Brian Sullivan, Organizations: NSA, CNBC Locations: cyberattack
A 40-year-old man was fatally stabbed at an Upper Manhattan subway station Friday night during a dispute with another person, the police said. Officers responding to a 911 call about a person stabbed at the West 175th Street A train station in Washington Heights just before 6 p.m. found the man near the turnstiles on the mezzanine level, the police said. Around 8:30 p.m., a station entrance on Fort Washington Avenue between West 174th and 175th Streets was closed off with yellow police tape. A trains were skipping the station, according to the Metropolitan Transportation Authority, which operates the subways. Police officers at the station entrances were directing riders to take the bus or head to stations at West 181st or 168th Streets.
Organizations: West, Harlem Hospital, Fort Washington, West 174th, Metropolitan Transportation Authority, Police, West 181st Locations: Upper Manhattan, Washington Heights, Fort, West
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