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Oscar Health struggled to upend the entrenched health insurance industry. Oscar Health has been trying and struggling to upend the US health-insurance industry and the entrenched giants that dominate it for the past 10 years. Oscar Health incoming CEO Mark Bertolini Bridgewater AssociatesLast year, Oscar lost a $60 million contract with its first client, Health First Health Plans. Bertolini wants Oscar to disrupt health-insurance giantsMario Schlosser, founding CEO of Oscar Health Eduardo Munoz/ReutersDespite losing the Health First deal, Bertolini is betting that Oscar will disrupt the insurance industry through partnerships. Oscar has developed health plans with health systems in the past.
REUTERS/Eduardo MunozMarch 27 (Reuters) - A Manhattan grand jury hearing evidence about former President Donald Trump's role in a hush-money payment to porn star Stormy Daniels was expected to reconvene on Monday, a law enforcement source said. The grand jury, which has been meeting since January, could indict Trump over the handling of the payment, which would make him the first U.S. president to face a criminal charge in court. Manhattan District Attorney Alvin Bragg has been presenting evidence about the $130,000 payment made to porn star Stormy Daniels in the final weeks of Trump's 2016 election campaign. Trump's former lawyer Michael Cohen has said he made the payment at Trump's direction to buy her silence about a sexual liaison she says she had with Trump in 2006. Trump faces several other criminal investigations, including one tied to the Jan. 6th assault on the U.S. Capitol.
House Republicans are demanding documents and testimony from Manhattan DA Alvin Bragg. It's the latest major step the GOP-led House has taken to defend Trump as he faces a possible criminal indictment. And without the backing of the Justice Department, it's unclear what consequences, if any, Congress can impose on Bragg's office. Yet while the lawmakers may have made valid criticisms, former Trump White House attorney Ty Cobb said, the letter is "bad form." Monday's letter also comes after House Speaker Kevin McCarthy pledged to subject Bragg's office to congressional investigations in anticipation of a possible Trump indictment.
He needs to be held accountable for his dirty deeds," Cohen said of Trump outside a Manhattan courthouse on his way to the grand jury. Grand jury proceedings are not public. Davis, his lawyer, would not comment on the details of Cohen's testimony before the grand jury on Monday. I never had an affair with Stormy Daniels," he said on his Truth Social platform last week. Joseph Tacopina, another Trump lawyer, said on ABC's "Good Morning America" on Monday there were no plans to participate in the grand jury, though a decision had not been made.
[1/4] Michael Cohen, former attorney for former U.S. President Donald Trump, arrives to the New York Courthouse in New York City, U.S., March 13, 2023. He needs to be held accountable for his dirty deeds," Cohen said of Trump outside a Manhattan courthouse on his way to the grand jury. Grand jury proceedings are not public. "I did absolutely nothing wrong, I never had an affair with Stormy Daniels," he said on Truth Social last week. Joseph Tacopina, another Trump lawyer, said on ABC's "Good Morning America" on Monday there were no plans to participate in the grand jury, though a decision had not been made.
[1/2] A worker arrives to the Signature Bank headquarters in New York City, U.S., March 12, 2023. REUTERS/Eduardo MunozWASHINGTON, March 12 (Reuters) - New policies adopted on Sunday by U.S. banking regulators will "wipe out" equity and bondholders in Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) of New York while protecting all customer deposits, a senior U.S. Treasury official said. The official said the steps were taken to stabilize the financial system and protect depositors, and did not constitute a bailout of either firm. No losses of either bank will be borne by U.S. taxpayers, the official said. Reporting by Andrea Shalal and Pete Schroeder; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
March 13 (Reuters) - Michael Cohen, Donald Trump's former lawyer and fixer, is expected to testify on Monday afternoon before a Manhattan grand jury investigating hush money payments he has said he orchestrated to porn star Stormy Daniels on behalf of the former president. He needs to be held accountable for his dirty deeds," Cohen said of Trump outside a Manhattan courthouse on his way to the grand jury. Grand jury proceedings are not public. [1/4] Michael Cohen, former attorney for former U.S. President Donald Trump, arrives to the New York Courthouse in New York City, U.S., March 13, 2023. Joseph Tacopina, another Trump lawyer, said on ABC's "Good Morning America" on Monday there were no plans to participate in the grand jury, though a decision had not been made.
In 2020, Covid restrictions ground the nation’s bustling restaurant industry to a halt. Last year, there were about 631,000 restaurants in the United States, according to data from Technomic, a restaurant research firm. Meanwhile, restaurant operators are seeing their own costs, like rent and ingredients, rise, and say it’s hard to hire staff. With conditions so tough, some restaurant owners are advising newcomers to steer clear of the industry altogether. Daniel Jacobs, a chef and restaurant owner, has seen his own network of restaurants shrink over the past few years.
[1/2] Norman Seabrook, (C) the head of New York City's prison guard union, exits the Manhattan District court house in New York, U.S., July 22, 2016. Seabrook, 63, the former head of the Correction Officers' Benevolent Association, has spent 21 months in prison after unsuccessfully appealing his August 2018 conviction. "The sentence Huberfeld originally received reflected an approximate equivalence between the conduct of the bribe giver, Huberfeld, and the bribe taker, Seabrook," Hellerstein wrote. The correction officers union has about 20,000 active and retired members. The case is U.S. v Seabrook, U.S. District Court, Southern District of New York, No.
"We have heard implicit threats to use nuclear weapons. The so-called tactical use of nuclear weapons is utterly unacceptable. It is high time to step back from the brink," Guterres told the 193-member U.N. General Assembly at a meeting to mark the first anniversary of the war in Ukraine. The draft text would again see the General Assembly demand Moscow withdraw its troops and call for a halt to hostilities. "Russia violated the UN Charter by becoming an aggressor," he said at the United Nations.
[1/2] Singer Beyonce arrives at the 2016 MTV Video Music Awards in New York, U.S., August 28, 2016. Beyonce heads into the show in Los Angeles with nine nominations, including an album of the year nod for dance-heavy album "Renaissance." The acclaimed 2016 album "Lemonade" was defeated by Adele's "25," prompting the British vocalist to say on stage that Beyonce deserved the honor. Beyonce's other nominations include record and song of the year for "Break My Soul." Scheduled performers include Styles, Lizzo, Sam Smith, Luke Combs and Bad Bunny.
Former U.S. President Donald Trump speaks during a campaign stop to unveil his leadership team, at the South Carolina State House in Columbia, South Carolina, U.S., January 28, 2023. Shannon Stapleton | ReutersA Manhattan grand jury began hearing evidence Monday in a criminal probe of a 2016 hush money payment that former President Donald Trump authorized to porn star Stormy Daniels, a new report said. A witness in that investigation, former National Enquirer publisher David Pecker, was seen with his attorney entering the courthouse Monday where the grand jury is meeting, according to The New York Times. The newspaper also reported that prosecutors from Manhattan's District Attorney's Office have recently contacted officials from Trump's 2016 campaign about it. Cohen later admitted he made that payment at Trump's behest, to avoid Daniels damaging his chances of winning the White House.
U.S. consumer spending falls; inflation cooling
  + stars: | 2023-01-27 | by ( ) www.reuters.com   time to read: +2 min
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month, the Commerce Department said on Friday. Economists polled by Reuters had forecast consumer spending dipping 0.1%. In the 12 months through December, the PCE price index increased 5.0% after advancing 5.5% in November. Excluding the volatile food and energy components, the PCE price index rose 0.3% after climbing 0.2% in November. The so-called core PCE price index rose 4.4% on a year-on-year basis in December after increasing 4.7% in November.
[1/2] People wear masks as a protection against the coronavirus disease (COVID-19) pandemic in New York City, New York, U.S., December 12, 2022. REUTERS/Eduardo MunozJan 11 (Reuters) - The U.S. health department on Wednesday extended the COVID-19 pandemic's status as a public health emergency, allowing millions of Americans to continue receiving free tests, vaccines and treatments. The emergency was first declared in January 2020, when the coronavirus pandemic began, and has been renewed each quarter since then. When it expires, private insurance and government health plans will take on COVID healthcare costs for most Americans. Reporting by Leroy Leo in Bengaluru and Ahmed Aboulenein; Editing by Shinjini Ganguli, Bill Berkrot and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Eduardo Munoz | ReutersThe Biden administration has extended the Covid-19 public health emergency until April as a highly transmissible omicron subvariant stokes concern that the U.S. may face another wave of hospitalizations from the disease this winter. The U.S. has renewed the Covid public health emergency every 90 days since the Trump administration first issued the declaration in January 2020.watch nowThe emergency declaration has had a vast impact on the U.S. health-care system over the past three years. It has protected public health insurance coverage for millions, provided hospitals with greater flexibility to respond to patient surges and expanded telehealth. Once U.S. officials decide to end the public health emergency, hospitals will lose flexibility in how they deploy staff, add beds and care for patients when there's a surge in admissions. Congress banned states from kicking people off the program for the duration of the public health emergency.
Sotomayor, who has dissented in major cases including the abortion decision as the court's 6-3 conservative majority has become increasingly assertive, described herself as "shell-shocked" and "deeply sad" after that term ended in June. The court's current term, which began in October, could be just as consequential as its previous one. In October, conservative Justice Samuel Alito, who authored the Dobbs opinion, warned against questioning the court's integrity. At Wednesday's conference, Chemerinsky noted that he had never before seen his law students so discouraged about the Supreme Court. Sotomayor, appointed to the court by Democratic former President Barack Obama in 2009, expressed optimism that the direction of the court will change in the future.
Our stock market comes out of 2022 better than any other. The profitless companies today — like the dot-com stocks in 2000 — almost all disappointed and will continue to disappoint in 2023. I had thought these people would come back to work when they realized that savings from the stock market and Social Security aren't enough of a safety net. Money will be exiting the stock market all year into the safer and somewhat greener pastures. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Pele's death mourned by fans
  + stars: | 2022-12-30 | by ( Anuja Jaiman | ) www.reuters.com   time to read: 1 min
A man draws an image of Brazilian soccer legend Pele with salt as a memorial while people mourn his death at the Pele soccer store in Times Square in the Manhattan borough of New York City, December 29, 2022. REUTERS/Eduardo Munoz
The dispensary was opened in New York City's East Village by Housing Works, a non-profit organization that fights homelessness and AIDS. The non-profit was among the first 36 groups or individuals that the state awarded with a marijuana retail license last month. Retailers can also only sell marijuana that licensed New York producers grew and processed. Alexander, the state marijuana director, said local and state law enforcement have been educating gray-market vendors on the licensing rules, following up with cease-and-desist letters and, more recently, seizing merchandise. New York's marijuana sales will be taxed at 13.5%, revenue that will go to schools, public housing, addiction services and mental health services.
[1/4] A workers holds up one of the new Waterford Crystal triangles featuring this year's "Gift of Love" design on the Times Square New Year's Eve Ball on the roof of One Times Square in Manhattan, New York City, U.S., December 27, 2022. REUTERS/Eduardo MunozNEW YORK, Dec 27 (Reuters) - Nearly 200 new Waterford crystals were installed on the New Year's Eve ball in Times Square in New York on Tuesday in preparation for Saturday's celebration to welcome in 2023. Since 1999, replacements for the 2,688 crystal panels that make up the ball have been designed and made by hand by Irish craftsmen at Waterford. This year's theme was the "Gift of Love," incorporating intertwining love hearts, said Waterford master artisan Tom Brennan at the Times Square site. Reporting by Hussein Al Waaile and Kyoko Gasha; Writing by Rosalba O'Brien; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
[1/2] People visit a retail store during the holiday season in New York City, U.S., December 15, 2022. So far, shopper visits to many retail segments, including apparel and electronics, are down year-over-year, according to foot-traffic data from Placer.AI. Zara, the fast-fashion chain, aggressively raised prices this year without turning off shoppers, while dollar stores including Dollar General (DG.N) expanded their array of merchandise. Dollar stores have also shown momentum as more consumers traded down. Discount and dollar stores saw visits up 1.1% year-over-year, and up 7.8% compared to Super Saturday 2019, according to Placer.AI foot-traffic data.
November's labor force participation rate of 62.1% was almost exactly where it was in January, with little variation in between. Each month millions of adults change their work status: Some join the labor market by either accepting a job or starting a job search; others move between a job and unemployment; some leave the labor market altogether. Increasingly "workers leaving employment are dropping out of the labor force, not becoming unemployed," TS Lombard economist Steven Blitz wrote recently. Recent changes in labor flow data "underscores the Fed's concern about the supply-demand labor imbalance underpinning inflation." Reuters GraphicsFEWER 'UNRETIREMENTS'The payroll jobs and labor force data come from different surveys, one of firms and one of households, and might be revised over time.
The month-to-month decline in the Adobe Digital Price Index, a measure of online shopping designed to mirror the basket of goods included in the government's Consumer Price Index, was an even faster 3.2%. U.S. shoppers spent $35.27 billion online overall during Cyber Week, the period from Thanksgiving through Cyber Monday. Until that point online prices for years had been a drag on overall inflation. "If current trends continue, goods prices should begin to exert downward pressure on overall inflation in coming months," Fed Chair Jerome Powell said last week. As goods inflation has begun to slow prices for services have accelerated.
The estimate from Adobe Analytics predicts an increase of up to 8.5% from a year earlier. Adobe Analytics measures e-commerce performance by analyzing purchases at 85% of the top 100 internet retailers in the United States. Both Adobe and MasterCard Spending Pulse are expected to release their updated Cyber Monday spending estimates on Tuesday. Americans have put off holiday shopping for weeks in the hopes of finding deeper post-Thanksgiving markdowns. Last year, Cyber Monday sales fell 1.4%, according to Adobe Analytics, as retailers kicked off holiday promotions early to avoid product shortages amid a global shipping crisis.
[1/2] A woman takes a look on the new Google Pixel 4 smartphone displayed during a Google launch event in New York City, New York, U.S., October 15, 2019. "Google and iHeartMedia paid influencers to promote products they never used, showing a blatant disrespect for truth-in-advertising rules," FTC official Samuel Levine said. In 2019, Google hired iHeartMedia and 11 other radio networks in 10 major markets to have on-air personalities record and broadcast endorsements of the Pixel 4 phone, according to the FTC. The seven states to join the FTC were New York, Arizona, California, Georgia, Illinois, Massachusetts and Texas. The ads ran in English and Spanish and allegedly violated consumer protection laws, the FTC and the seven states said.
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