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☆ Stocks making the biggest moves midday: Tapestry, Capri, L3Harris Technologies and more
▼ + stars: | 2024-10-25 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

The sharp moves come after a judge ruled in favor of the Federal Trade Commission's case to block Tapestry's acquisition of Capri . L3Harris Technologies — Shares rose 3.5% after the defense company reported a top- and bottom-line beat in the third quarter. Western Digital posted adjusted earnings of $1.78 per share, versus consensus forecasts for $1.72 per share, according to LSEG. Adjusted earnings before interest, taxes, depreciation, and amortization of $3.27 billion was just slightly short of consensus calls for $3.28 billion. In the fiscal second quarter, Booz Allen Hamilton reported adjusted earnings of $1.81 per share on $3.15 billion in revenue.

Persons: L3Harris, FactSet, ResMed, Booz Allen Hamilton, —, Alex Harring, Lisa Kailai Han, Sean Conlon Organizations: Tapestry, Federal Trade, Capri, FactSet, Colgate, Palmolive, Western Digital, Digital Realty Trust, Management, HCA, HCA Healthcare, Booz

As Wall Street financiers snapped up huge swaths of the nation’s rental housing market in recent years, the deals sailed through unchallenged. But large purchases of rental homes and apartment buildings by private equity firms like KKR are another cause, research shows. The Private Equity Stakeholder Project, a nonprofit that monitors the industry’s impact on individual Americans, has identified more than 5,100 apartment complexes owned by more than 30 private equity companies in America, totaling almost 1.4 million units. Jim Baker, executive director at the Private Equity Stakeholder Project, welcomes the scrutiny the senators are bringing to the KKR transaction. More than two-thirds of the apartment units in those states are owned by private equity, he said.

Persons: Sen, Elizabeth Warren, ” Warren, Raphael Warnock of Georgia, Peter Welch of, Ron Wyden, Kamala Harris, Ohio Sen JD Vance, Donald Trump’s, Noelle Porter, Noelle Porter Noelle Porter, Porter, “ They’ve, ” Porter, “ We’ve, we’ve, Fannie Mae, Freddie Mac, Jim Baker, Washington — Organizations: Wall Street, KKR, NBC News, Harvard University’s, for Housing Studies, Harvard, Income Housing Coalition, Ohio, Companies, Equity, Housing, Financial Reform, Financial, National Housing Law, Navy Yards, Washington , D.C, Brookfield Properties, Asset Management, District of Columbia, Federal Trade Commission, Brookfield, Federal Housing Finance Agency, Private Locations: Peter Welch of Vermont, Oregon, United States, U.S, Puerto Rico, America, Washington ,, California , Colorado , Florida, Georgia, North Carolina , New Jersey , Texas, Washington

☆ Judge blocks Coach owner Tapestry's proposed acquisition of Michael Kors parent Capri
▼ + stars: | 2024-10-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A federal judge blocked Tapestry's acquisition of Capri on Thursday following a brief trial last month in New York. Representatives for Tapestry and Capri didn't immediately return requests for comment. The decision will ensure that Tapestry and Capri continue to engage in head-to-head competition to the benefit of the American public." The decision comes as consumers balk at high prices for food, apparel and other goods after years of elevated inflation. Lawyers for Tapestry and Capri argued the companies are not each other's main competitors.

Persons: Jennifer Rochon, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Capri's, didn't, Henry Liu, Biden, Kamala Harris, Lina Khan, Capri, —, Melissa Repko Organizations: Federal, Tapestry, Federal Trade Commission, FTC, Competition, Democratic Locations: Capri, New York, FTC's

☆ OpenAI disbands another safety team, head advisor for 'AGI Readiness' resigns
▼ + stars: | 2024-10-24 | by ( Hayden Field | ) www.cnbc.com time to read: +9 min

OpenAI is disbanding its "AGI Readiness" team, which advised the company on OpenAI's own capacity to handle increasingly powerful AI and the world's readiness to manage that technology, according to the head of the team. On Wednesday, Miles Brundage, senior advisor for AGI Readiness, announced his departure from the company via a Substack post. Former AGI Readiness team members will be reassigned to other teams, according to the post. Madry will still work on core AI safety work in his new role, OpenAI told CNBC at the time. Leike added that OpenAI must become a "safety-first AGI company."

Persons: OpenAI, Miles Brundage, Brundage, Miles, Mira Murati, Bob McGrew, Barret Zoph —, Aleksander Madry, Madry, reassign Madry, Sam Altman, it's, Altman, Lina Khan, they've, OpenAI's, Ilya Sutskever, Jan Leike, Leike, Greg Brockman, Brockman Organizations: AGI Readiness, CNBC, Security Committee, Google, Microsoft, Meta, Princeton University, Democratic, Federal Trade Commission, Department of Justice, Nvidia Locations: OpenAI

The Many Links Between Project 2025 and Trump’s WorldFormer president Donald J. Trump has repeatedly claimed that he had nothing to do with Project 2025, the Heritage Foundation’s conservative policy initiative to reshape the federal government. But Project 2025 has numerous ties to Mr. Trump and his campaign, a New York Times analysis has found. L. ZorcJump to the full list of authors, editors and contributorsSpokespeople for Project 2025 have denied that they are advocates for any particular candidate, and Project 2025 has no official ties to the Trump campaign. To limit the appearance of connection, Mr. Trump’s transition team has been excluding prominent people linked to Project 2025 from its preparations. Project 2025 additionally calls for the dismantling of the federal Education Department, which Mr. Trump has also pledged to do.

Persons: Donald J, Trump, Kevin D, Roberts, Edwin J, Trump’s, Albrecht Mark Albrecht, Anderson J, Anderson Jeff Anderson, Anton Michael Anton, Antoni A, Arthur Andrew Arthur, Atkins Paul Atkins, Axelrod Julie Axelrod, Bacon James Bacon, Baehr James Baehr, Baker E, Erik Baptist, Bennett J, Berlau, Berman Russell Berman, Bhagat S, Billy Stephen Billy, Bishop Brad Bishop, Bixby J, Blackman J, Jim, Bovard, Bowman Matt Bowman, Bradbury Steven G, Bradbury, Brashers J, Bronitsky Jonathan Bronitsky, Brosnan Kyle Brosnan, Brown R, Burkett Robert Burkett, Burley Michael Burley, J, Butcher, Mark Buzby, Byfield, Byrd David Byrd, Campau Anthony Campau, Carroll O, Cass B, Cavanaugh Brian J, Cavanaugh, Chretien Spencer Chretien, Christensen V, Coates Victoria Coates, Ellie Cohanim, Cohen Ezra Cohen, Colby Elbridge Colby, Comstock Earl Comstock, Correnti Lisa Correnti, Crowley Monica Crowley, Cunliffe Laura Cunliffe, Sergio de la, Ruyter, Del, Dennis Irv Dennis, DeVore J, Dickerson, Ding Michael Ding, Dodson, Dave Dorey, Eden T, Edgar Troy Edgar, Edlow Joseph Edlow, Ehlinger Jen Ehlinger, Ehrett, Eichamer Kristen Eichamer, Eitel Robert S, Estrada, Farkish Thompson, Feere Jon Feere, Fisher Travis Fisher, Fishman George Fishman, Ford Leslie Ford, Friedman Aharon Friedman, Frohnen J, Frushone Joel Frushone, Fulton Finch Fulton, Gabel Caleigh Gabel, Gaiser Alexandra Gaiser, Garza P, Geller, Gillen J, Gilmore James S, Gilmore, Ginn Vance Ginn, Alma Golden, Gore, D, Greenberg Dan Greenberg, Greenway, Greszler, DJ Gribbin, Grisedale Garrison Grisedale, Grogan Joseph Grogan, Guernsey J, Gunter Jeffrey Gunter, Guy Joe Guy, Guzman Joseph Guzman, Hanania, Harlow David Harlow, Harvey Derek Harvey, Hayes, Edie Heipel, Hemenway Troup, Hoekstra Pete Hoekstra, Hoffman T, Homan Tom Homan, Horner Chris Horner, Howell Mike Howell, Huber Valerie Huber, Hughes Andrew Hughes, Humire, Iacovella, Israel K, Ivory R, Jankowski Roman Jankowski, Jay Carafano James Jay Carafano, Jones, Kao J, Kelson Jared M, Kelson, Kilmartin Ali Kilmartin, Kirchner Julie Kirchner, Kish, Klukowski Kenneth A, Adam Korzeniewski, Bethany Kozma, Kozma Matthew Kozma, Krein, Kurtz, LaCerte David LaCerte, Larkin P, Lawrence Paul Lawrence, Lawrence III James R, Lawrence III, Legates David Legates, Lewis B, Lieberman J, Ligon John Ligon, Lim Evelyn Lim, Lorraine Viña Morgan Lorraine Viña, Loyola Mario Loyola, G, Malcolm J, Masterman, Matthews Earl Matthews, Mauler, McCall, McCotter Trent McCotter, Meadowcroft Micah Meadowcroft, Meese, Melugin, Mermoud, Miller, Mitchell K, Kevin E, C, Morell Clare Morell, Morgan Mark Morgan, Morgen Hunter Morgen, Morrison J, Moy, Murray R, Nabil M, Nasi L, Niemeyer Lucian Niemeyer, Nazak, Milan Nikolich, Nuebel, Kathy Nuebel Kovarik, Orr, Owcharenko Schaefer Nina Owcharenko Schaefer, O’Brien, Michael, Pedersen Leah Pedersen, Pillsbury Michael Pillsbury, Pizzella Patrick Pizzella, Porter K, Kevin Preskenis, Pryor Pam Pryor, Pyle J, Ratcliffe John Ratcliffe, Ray Paul Ray, Reddan J, Richards J, Richardson Jordan Richardson, Richwine Jason Richwine, Ries Lora Ries, Rios, Mark Robeck, Rockas James Rockas, Royce R, Rubinstein Reed Rubinstein, Ruger, Ruse, Sadler J, Sanders, Carla Sands, Sauve, Schaefer, Schuck Matt Schuck, Schwab Justin Schwab, Schweppe, Scribner, Selnick Darin Selnick, Sewell K, Sgamma, Sharp J, Shelton Judy Shelton, Simington Nathan Simington, Smith Loren Smith, Smith J, Spencer A, Spero Adrienne Spero, Spoehr, Onge C, Stanley Chris Stanley, Stannard Paula M, Stannard, Steiger William Steiger, Stein, Stephany Saunders, Stewart Corey Stewart, Stull Mari Stull, Sullivan Katharine T, Sullivan, Swearingen, Sweeney R, Swope Robert Swope, Szabo Aaron Szabo, Katy Talento, Tata Tony Tata, Thurman Todd Thurman, Tolman K, Tonnessen Kayla M, Trotter, Troy C, Tufts Clayton Tufts, Valdez, Mark Vandroff, Vaughan J, Venable, Vollmer, Wallace DeWitt C, Wallace DeWitt, Walsh E, Walsh Erin Walsh, Ward, Waters, William Salter M, Williams Michael Williams, Wolff J, Wolfson Jonathan Wolfson, Alexei Woltornist, Wuco Frank Wuco, Ybarra J, Zadrozny John Zadrozny, ”, John McEntee, James Bacon, Reagan, Howard Lutnick, Joseph R, Biden Jr, Dennis Dean Kirk, Kirk, Mr, “, JD Vance, Roberts’s, Kevin Roberts, Rick Dearborn, Russell T, Evan Vucci, Paul Dans, Dans, Ken Cuccinelli, Christopher Miller, Chip Somodevilla, Samuel Corum, The New York Times Christopher Miller, Biden, Miller’s, Skinner, Gene Hamilton, Hamilton, ” President Biden, Ben Carson, Todd Heisler, Jonathan Berry, Carson, Stephen Moore, Peter Navarro, Navarro, Karen Kerrigan, Ken Cedeno, Edwin Feulner, Robert Bowes Organizations: Heritage, New York Times, Mr, Leadership, Trump, Ivory, Loyola, Poole, Royce, Tufts, Heritage Foundation, The New, The New York Times, Washington Post, Associated Press, White, White House, Republican, Management, Defense , Homeland Security, State, Homeland Security Department, Defense Department, Twitter, State Department, Justice Department, ”, federal Education Department, Urban Development Department, Republican National Convention, Center for American Progress, Small Business Administration, Small Business, Entrepreneurship Council, Federal Communications Commission, Federal Trade Commission Locations: Guernsey, The New York, Palm Beach, Fla, Southern

☆ America's New Economic Supercycle: Growth, Prices, Stock Market Chaos
▼ + stars: | 2024-10-20 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

First, higher interest rates will reward savers, making it more expensive to take risks. And with interest rates so low, companies could suddenly load up on debt: From 2007 to 2017, global nonfinancial corporate debt doubled, to $66 trillion. Now, with the arrival of a new supercycle, money managers are once again being forced to adapt to a changing set of economic realities. Normally, when the Fed hikes interest rates rapidly, the stock market tanks. Rising interest rates will make loans more expensive, forcing businesses to make more-thoughtful decisions about debt.

Persons: Josh Hirt, Silas Myers, Myers, Hirt, you've, Joe Quinlan, they'll, Quinlan Organizations: Investors, Vanguard, Mar Vista Investments, Federal Reserve, Capital, . Venture, Nasdaq, Bank of America, Big Tech, Federal Trade Commission, Treasury, European Union, Aerospace Locations: Washington, China, Unemployment, Europe, America, Japan, United States

☆ Business Insider Subscriptions: Enjoy Premium News Stories
▼ + stars: | 2024-10-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +17 min

It isn't an accident that people who want to cancel a subscription often have to navigate a web of bureaucracy and confusion. "Actual affirmative consent from a consumer," Witte said, would establish trust between the consumer and the company, boosting loyalty. Along with litigation from the CFPB, state attorneys general have pursued legal action against big companies over hard-to-cancel subscriptions. Last year, Letitia James, New York's attorney general, sued SiriusXM over claims that the radio company trapped customers in subscriptions and maintained a complicated and burdensome cancellation process. AdvertisementIndustries have mastered techniques to maximize their profits by crafting their business models in confusing ways that can lure customers into a subscription without realizing it.

Persons: Doug Mattison, Mattison, —, he'd, I've, Florencia Marotta, Wurgler, Erin Witte, Witte, you've, TransUnion, Cuban, hadn't, it's, Rachel VonSiebenhoven, VonSiebenhoven, I'm, we've, Letitia James, SiriusXM Organizations: Federal Trade Commission, New York University, Consumer Federation of America, Consumer Financial, Bureau, Association of National, FTC, Cuban, Companies, Industries Locations: Ohio, Colorado, New

☆ CVS names new CEO in the wake of layoffs and poor stock performance
▼ + stars: | 2024-10-18 | by ( Erika Tulfo | ) edition.cnn.com time to read: +3 min

CNN —America’s largest drug store chain named a new chief executive officer on Friday, with longtime CVS Health executive David Joyner replacing Karen Lynch. In August, rising costs at CVS’ insurance arm Aetna cut into profits, leading to the ousting of then-president Brian Kane. Charles Krupa/AP/FileLower reimbursement rates for prescription drugs have hit retail pharmacies, including Walgreens and Rite-Aid, resulting in flagging profits and forcing drug stores to shutter locations and cut jobs. Meanwhile, rival chain Walgreens is closing 1,200 stores as it faces competition from online pharmacies and larger retailers — another challenge facing drug stores. Our results need to show that more consistently,” a CVS Health spokesperson told CNN in a statement.

Persons: CNN —, David Joyner, Karen Lynch, Brian Kane, Lynch, ” Julie Utterback, Charles Krupa, Joyner, David, Roger Farah Organizations: CNN, CVS Health, CVS, Aetna, Federal Trade Commission, Morningstar, Boston College's, Club, Walgreens, Rite, ” Locations: Boston

☆ The government is getting fed up with ransomware payments fueling endless cycle of cyberattacks
▼ + stars: | 2024-10-18 | by ( Barbara Booth | ) www.cnbc.com time to read: +7 min

Zeroing in on cyber insurance as a key area for reform comes as the U.S. government scrambles to find ways to disrupt ransomware networks. For many organizations, deciding whether to pay a ransom is a difficult and urgent decision. The hacker group allegedly demanded a ransom to return the stolen data, though it remains unclear whether NPD paid it. Darren Williams, founder of BlackFog, a cybersecurity firm that specializes in ransomware prevention and cyber warfare, is firmly against paying ransoms. UnitedHealth Group experienced this firsthand after its subsidiary, Change Healthcare, was hit by the ALPHV/BlackCat ransom group in April 2023.

Persons: Anne Neuberger, James S, Ann Neuberger, scrambles, Paul Underwood, Underwood, Bryan Hornung, Hornung, I've, they'd, —, Ransom, LVHN, Darren Williams, BlackCat, LoanDepot Organizations: Brady, White, Washington , D.C, National Intelligence, FBI, Xact IT, Social, Lehigh Valley Health, Federal Trade Commission, NPD, Jerico, UnitedHealth Group, Change, Healthcare, LoanDepot Locations: Washington ,, what's, Pennsylvania, U.S

☆ These dividend-paying stocks could be in the 'early innings' of a rally
▼ + stars: | 2024-10-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

"As evidenced by XLV [Health Care Select Sector SPDR Fund], price is back through the 50 day [moving average] on this relief rally," he said. "Not yet overbought, it looks to us like the early innings of a reacceleration back towards the highs. XLV YTD mountain Health Care Select Sector SPDR Fund year to date On top of that rally is the added benefit of dividend payouts on many health care stocks. At least 51% of the Wall Street analysts who cover each stock rates it a buy, according to FactSet data. CI YTD mountain Cigna year to date Cigna beat earnings and revenue estimates in its second quarter when it reported results in August.

Persons: Rob Ginsberg, Abbott, Robert Ford, Dickinson, Cigna, Lina Khan, Merck Organizations: Wolfe Research, SPDR, CNBC Pro, Wall Street, nab, Abbott Laboratories, Company, Cigna's, Federal Trade Commission, CVS Health, UnitedHealth, Merck, Co Locations: . Connecticut

The Federal Trade Commission is announcing a finalized rule to make it easier for people to cancel subscriptions and memberships they just don’t want anymore. When the proposed rule was announced last year, Khan said, the agency got about 16,000 comments expressing how canceling subscriptions had become a headache at best. Khan and the FTC have already taken legal action against Amazon’s Prime division over accusations that it is luring customers into subscriptions that the FTC alleges are extraordinarily difficult to cancel. “Some members have the ability to cancel their membership online based on their membership type and location of their home club,” it said. Nelson said she’d be grateful for the changes Khan and the FTC are proposing.

Persons: Lina Khan, Khan, we’ve, “, ” Khan, that’s, ”, Haley Nelson, didn’t, Nelson, she’d, it’s Organizations: Federal Trade Commission, U.S . Chamber of Commerce, “, FTC, Amazon’s, Amazon, NBC News, Fitness Locations: U.S, Minnesota

☆ The government steps in to make it easier to cancel your subscriptions
▼ + stars: | 2024-10-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

The Federal Trade Commission finalized a rule designed to make canceling subscriptions easier. The rule targets "negative option" programs, such as auto-renewing subscriptions. AdvertisementThe government has had it with companies making it difficult for consumers to cancel their subscriptions. The Federal Trade Commission on Wednesday announced a final "click to cancel" rule requiring companies to make canceling subscriptions just as easy as signing up for them. Related storiesThe agency said its rule aimed to address common problems with these types of subscriptions, such as companies obscuring the terms of their subscriptions, customers getting billed when they didn't agree to pay, and companies making it difficult or impossible to cancel subscriptions.

Persons: —, Lina Khan Organizations: Federal Trade Commission, FTC, Service, Wednesday, Federal

☆ The federal government just made it much easier to cancel your gym membership
▼ + stars: | 2024-10-16 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

The FTC unveiled its final “click-to-cancel” rule, which requires businesses provide a way for consumers to cancel their subscriptions that is just as easy as it is to sign up. That includes everything from gym memberships to digital streaming and e-commerce to cable TV service. “Too often, businesses make people jump through endless hoops just to cancel a subscription,” said Commission Chair Lina Khan in statement by the FTC. Other times they might’ve been able to sign up online, but in order to cancel they had to call and talk to a representative. Other kinds of memberships required them to actually show up in person to cancel their subscription,” Brett said.

Persons: ”, Lina Khan, Laura Brett, Brett, you’ve, ” Brett, Natnan, ABCmouse, Brian Fung, Nathaniel Meyersohn Organizations: CNN, Federal Trade Commission, FTC, Federal, National Advertising Division, BBB

☆ Biden is going after corporate giants for being too big. Here's who he's targeted so far.
▼ + stars: | 2024-10-13 | by ( Katie Balevic | ) www.businessinsider.com time to read: +6 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "This is definitely a different agenda than previous presidents," Rebecca Allensworth, an antitrust expert at Vanderbilt University, told Business Insider. AdvertisementHere are some of the biggest companies Khan and Biden have targeted. "I think there's a reason why they have one big monopolization case, at least, against each of the four major American tech companies," Allensworth told BI.

Persons: Joe Biden's, Biden, —, Joe Biden, Rebecca Allensworth, Kamala Harris, Lina Khan, Khan, Rafael Henrique, Merrick Garland, Alain Jocard, Sundar Pichai, Justin Sullivan, Jeff Bezos, EMMANUEL DUNAND, WhatsApp, Allensworth, it's Organizations: Google, Apple, Meta, Microsoft, Service, Vanderbilt University, Big Tech, Federal Trade Commission, Nvidia, OpenAI, Department of Justice, The New York Times, FTC, Getty, Justice Department, Nation Entertainment, Prosecutors, DOJ, The, Department, Amazon, Tech, JetBlue, Spirit Airlines, Albertsons Companies Locations: OpenAI

☆ What internet data brokers have on you — and how you can start to get it back
▼ + stars: | 2024-10-11 | by ( Barbara Booth | ) www.cnbc.com time to read: +17 min

Inside data brokers' massive vaultCybersecurity experts estimate that data brokers collect an average of 1,000 data points on each individual with an online presence. Little oversight around data privacyThe lack of comprehensive regulation around data privacy allows data brokers to operate with little oversight, unlike the General Data Protection Regulation (GDPR) in the European Union. Opt-out links and instructions are readily available for most of the major data brokers: ExperianTransUnionLexisNexisEpsilon But data privacy experts says reclaiming or deleting your data from brokers can be a deliberately complex process that is not only time-consuming but frustrating. "With AI, data brokers will create even more detailed and predictive profiles, incorporating everything from biometric data to behavioral tracking," Abed said. Until regulation steps in, data brokers will continue to collect as much data as possible.

Persons: Pew, Arjun Bhatnagar, Roger Grimes, Jeff Chester, Chester, I'm, Bruno Kurtic, Chris Henderson, Chelsea Magnant, Rob Hughes, Kurtic, Cloaked's Bhatnagar, Henderson, Javad Abed, Abed Organizations: Pew Research, Social, LexisNexis, Epsilon, OneRep, Center for Digital Democracy, D.C, Bedrock Security, National Security Agency, CNBC, Data Protection, European Union, NYU's Center for Global Affairs, Brunswick, RSA, U.S, Consumers, Consumer, Engage, Federal Trade Commission, FTC, Johns Hopkins Carey Business School Locations: Washington, California, U.S, Chester

☆ Pharmacy deserts are appearing across U.S. as drug stores closures spread
▼ + stars: | 2024-10-11 | by ( Kevin Williams | ) www.cnbc.com time to read: +12 min

"As long as the big three PBMs go unchecked, more pharmacy deserts will appear," Rochol said. Between 2023 and 2024, independent pharmacies in the CVS Caremark pharmacy network were reimbursed 67.5% higher on average than CVS Pharmacy locations, and 51.9% higher than other chain pharmacies in the state. The CVS spokesman also said that CVS pharmacies are not all serviced by Caremark, working with over 70 different PBMs. "There are unfortunately many factors for pharmacy closures in rural areas, including population declines and the growing use of online pharmacies." But Banas believes the pharmacy deserts will only grow, and lead to an increase the number of apps and digitization.

Persons: Rochol, Miranda Rochol, Health —, —, Joyce Dingman, wasn't, Nickerson, David Nickerson, Tim Wentworth, Greg Lopes, Steven C, Anderson, Colin Banas, Banas, it's, Tamera Hughes, Hughes, Rob Anderson Organizations: FTC, Health, Federal Trade Commission, Aids, Rite Aid, CVS, Walgreens, Cigna, Walgreens Boots, CVS Pharmacy, Caremark, Pharmaceutical Care Management Association, National Community Pharmacists, National Association of Chain Drug, U.S, Congress, Amazon, University's, of Pharmacy, Pharmacists, Aid Locations: United States, PBMs, New Lebanon, Ohio, Dayton, New Lebanon's, Rust, New Lebanon , Ohio, Georgia, NACDS

☆ Jim Cramer criticizes DOJ's stance on Google and possible breakup
▼ + stars: | 2024-10-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday disagreed with the Department of Justice's move to consider a possible breakup of Google , asserting that the company benefits consumers, businesses and the U.S."Google's an aggressive company. But I defy you to find any regular people in this country who think of Google as a bad actor," he said. "Google search is the most incredible bargain in the world, and the same goes for YouTube." Cramer also questioned the DOJ's antitrust lawsuit against Apple and the Federal Trade Commission's case that Amazon illegally wields monopoly power. Google declined to comment, and the Department of Justice did not immediately respond to a request for comment.

Persons: CNBC's Jim Cramer, Cramer Organizations: Department of, Google, YouTube, DOJ, Apple, Federal Trade, Big Tech, Department of Justice

☆ These dividend growers are also on Goldman Sachs' buy list
▼ + stars: | 2024-10-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Goldman Sachs recently screened for stocks that offer solid dividend yield as well as dividend growth, both of which can be covered by the company's earnings or free cash flow. All the names had to also be rated a buy at Goldman and have an estimated dividend yield of 2% or more in 2025. It has an estimated 2025 dividend yield of 4.6%, analyst Deep Mehta said. Its estimated CAGR in dividend-per-share between 2024 and 2026 stands at 19% and its estimated dividend yield in 2025 is 2.9%. In the oil patch, integrated producer Chevron is expected to nab a dividend yield of 4.9% next year.

Persons: Goldman Sachs, Deep Mehta, Corie Barry, Mehta, Prologis, Hess, John Hess Organizations: Federal Reserve, Goldman, Citigroup, Rent, Chevron, nab, Canadian Natural Resources, Federal Trade Commission, Exxon, Hess Locations: Guyana

☆ Amazon is becoming Big Tech's king of cash, and Wall Street wants a piece of it
▼ + stars: | 2024-10-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Amazon's cash balance is expected to reach almost $400 billion by 2027, far outpacing tech rivals. AdvertisementAmazon's ballooning cash balance is drawing Wall Street's attention. By 2027, Amazon is forecast to have almost $400 billion in cash, far outpacing its Big Tech rivals. Despite the "remarkable" growth in Amazon's cash balance, the company hasn't been as aggressive as other tech companies in rewarding shareholders, he noted. During an April call with analysts, Amazon CFO Brian Olsavsky addressed the question about shareholder returns.

Persons: —, Wall, Mark Mahaney, Mahaney, Evercore's Mahaney, hasn't, Mark Shmulik, Bernstein, Morgan Stanley, Gene Munster, Munster, Andy Jassy's, Brian Olsavsky, Jassy, Olsavsky, Deepwater's Munster Organizations: Service, P Global Market Intelligence, Microsoft, Amazon, Big Tech, Apple, Deepwater Asset Management, Federal Trade Commission, Meta

☆ AOC promises an 'out-and-out brawl' if Harris removes FTC chair Lina Khan as president
▼ + stars: | 2024-10-09 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

AOC tweeted in response to Mark Cuban saying Harris shouldn't keep Khan on as chair of the FTC. AdvertisementRep. Alexandria Ocasio-Cortez made it clear that when it comes to economic regulation, Vice President Kamala Harris can't please everyone. AOC took to X, formerly known as Twitter, to respond to comments from billionaire and Harris surrogate Mark Cuban. AdvertisementThroughout the election, Harris has leaned on her California roots to woo business and tech leaders, including Cuban, Reid Hoffman, and Laurene Powell Jobs. Should Harris win the election in less than a month, it remains unclear how she'll handle the looming Khan question.

Persons: Mark Cuban, Harris shouldn't, Harris, hasn't, —, Alexandria Ocasio, Cortez, Kamala Harris, Lina Khan, wouldn't, Semafor, Harris hasn't, Khan —, Gary Gensler, Reid Hoffman, Laurene Powell Jobs Organizations: Service, Federal Trade Commission, Securities and Exchange Commission, Cuban, Wall Locations: Alexandria, California

☆ CVS, UnitedHealth say FTC should take Lina Khan and two commissioners off drug middlemen case
▼ + stars: | 2024-10-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

CVS Health and UnitedHealth Group are demanding Federal Trade Commission Chairwoman Lina Khan and two other commissioners recuse themselves from a lawsuit accusing the companies and other drug middlemen of boosting their profits while inflating insulin costs for Americans. In separate motions filed Tuesday night with the FTC, CVS and UnitedHealth argued that all three commissioners have an extensive track record of making public statements that indicate "serious bias" against the companies' so-called pharmacy benefit managers. CVS said those statements demonstrate that the commissioners have "prejudged this matter," so their participation in the case "violates due process." The FTC filed the suit last month against the three largest PBMs, CVS Health's Caremark, UnitedHealth Group 's Optum Rx and Cigna 's Express Scripts. The FTC has been investigating PBMs and their role in insulin prices since 2022.

Persons: Lina Khan, UnitedHealth, Khan, Alvaro Bedoya, Rebecca Kelly Slaughter, PBMs Organizations: Financial Services, General Government, Federal Trade Commission, CVS Health, UnitedHealth, Federal Trade, CVS, Amazon, FTC, Zinc Health Services, GPO, Emisar Pharma, OptumRx Locations: Rayburn, U.S, Caremark

☆ Supreme Court rejects Martin Shkreli fine appeal
▼ + stars: | 2024-10-07 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The Supreme Court in rejecting that request did not explain its reason for doing so. Shkreli's request that the Supreme Court take his appeal of federal court decision was his last chance to overturn the penalty related to the drug Daraprim . People pass outside the U.S. Supreme Court on October 7, 2024 in Washington, DC. Shkreli in June asked the Supreme Court to hear his appeal of that ruling, but only as it applied to the financial penalty. The attorney said that the Supreme Court should hear Shkreli's appeal to resolve the so-called circuit split on the question of a defendant's financial liability.

Persons: Martin Shkreli, Benjamin Brafman, Shkreli, pharma bro, Shkreli's Organizations: U.S, CNBC, Federal Trade Commission, pharma, Supreme, Vyera Pharmaceuticals, FTC, Circuit, Appeals Locations: Brooklyn, New York City, U.S, Washington ,, Manhattan, Shkreli, disgorgement

☆ How a teenager used a spoof cell tower to steal personal information from thousands of people
▼ + stars: | 2024-10-04 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

A New Zealand teenager sent thousands of scam texts using a fake cellphone tower before he was caught. It uses a so-called SMS Blaster to trick cellphones. The FBI and FTC have warned of rising smishing scams in the US. The Federal Trade Commission says that most "smishing" scams in the United States also involve people posing as banks. In 2022, the bureau warned that large-scale smishing campaigns delivered "hundreds, thousands, or even hundreds of thousands" of text messages in a matter of hours mimicking the IRS.

Persons: —, Smishing Organizations: FBI, FTC, Service, Police, New Zealand police, Federal Trade Commission Locations: Zealand, New Zealand, United States

☆ Harris' Uber executive brother-in-law says he won't join her cabinet. Other business leaders still have a shot.
▼ + stars: | 2024-10-04 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Tony West, Harris' brother-in-law and an Uber executive, doesn't plan on serving in her cabinet. Other private sector stars are in the running for key positions like Treasury secretary. Tony West, Harris' brother-in-law and a top executive at Uber, has been instrumental in cementing the vice president's relationship with corporate America. Sources told Semafor he's a leading candidate for Treasury secretary, among other positions. Related storiesBut Chenault isn't a shoo-in — leaders on and off Wall Street are also jockeying for the coveted position.

Persons: Tony West, Harris, —, Kamala Harris, Uber, Ken Chenault, Chenault, Semafor he's, Berkshire Hathaway, Wally Adeyemo, Gina Raimondo, Jamie Dimon, JPMorgan Chase, Blair Effron, Charles Phillips, Brad Smith, Lina Khan, Gary Gensler, Mark Cuban Organizations: Service, White, Uber, America, Wall Street Journal, Former American Express, Democratic, Democratic National Convention, American Express, Facebook, IBM, Procter, Gamble, Treasury, Commerce, JPMorgan, CNBC, Microsoft, Federal Trade Commission, Securities, Exchange Commission, SEC Locations: Airbnb, Berkshire

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

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