The US Sun

CVS Health is shifting its leadership and slashing costs as sales suffer while hundreds of stores close. This is the third time the healthcare company has cut its 2024 forecast. On August 7, 2024, CVS Health announced that CEO Karen Lynch will head the insurance segment, replacing Executive Vice President Brian Kane, The Associated Press […]

CVS makes drastic ‘cost cutting’ moves after sales plummet – and as 900 stores close due to company’s ‘poor health’

CVS slashed its earnings guidance for the third time this calendar year as rising medical costs continue to pressure the bottom line of its insurance segment Aetna, according to financial results released Wednesday. The Rhode Island-based healthcare behemoth, which has struggled since last year to manage the costs of Medicare...

Aetna executive ousted as CVS’ Medicare Advantage woes drag into second quarter

CVS Health is making changes at the top of its Aetna division as the insurer navigates choppy waters. The company said in its earnings report released Wednesday morning that CEO Karen Lynch will take over direct control of the health benefits segment, and will be overseeing its "day-to-day" operations alongside Chief Financial Officer Tom Cowhey.

CVS CEO Karen Lynch to take over 'day-to-day' operations at Aetna amid ongoing struggles

On Wednesday morning, CVS Health Corp stock fell after the company reported mixed second-quarter earnings and lowered its diluted earnings-per-share guidance due to poor performance within its healthcare benefits segment. CVS reported net income fell nearly 9% to $1.77 billion, or $1.41 per share, in the second quarter compared to...

CVS Health reports mixed Q2 earnings — and Aetna’s Brian Kane is out

CVS Health declared higher medical costs are eating into its profit. As claims from its insurance segment continue to increase, the company reduced its 2024 profit outlook and is implementing a significant cost-cutting program to help reverse the downfall. CVS announced a Q2 2024 net income of $1.77 billion, down...

CVS Blames Higher Medical Costs for Dragging Down Profit

Big banks in the US are boosting the amount of cash they’re handing to new customers as the fight for deposits intensifies for the first time in years. JPMorgan Chase and Wells Fargo in particular are battling it out to curb deposit flight triggered by the Federal Reserve’s interest rate hikes, reports the Wall Street Journal.

JPMorgan Chase and Wells Fargo Offering $300 Cash As Banks’ Battle for New Deposits Intensifies for First Time in Years: Report

A MUM’S “beautiful” newborn baby died in her arms after she was repeatedly told there was “nothing to worry about.” Louise Martin’s son Joshua was diagnosed with group B strep (GBS) three days after he was born and the infection left to severe complications including brain damage. GBS is the most common cause of infection […]

My ‘beautiful’ newborn baby died in my arms after I was repeatedly told there was ‘nothing to worry about’

USA TODAY

The Consumer Financial Protection Bureau is looking into the handling of Zelle transactions by big banks, according to a Wall Street Journal report.

Bank of America, Wells Fargo are under investigation for handling of customers funds on Zelle

A Wells Fargo executive has been ordered to leave the banking industry after draining tens of thousands of dollars from customer deposit accounts. The Office of the Comptroller of the Currency (OCC) is issuing a consent order against ex-Wells Fargo operations associate manager Cindy M. Flores for violating laws and engaging in unsafe and unsound practices.

$47,646 Drained From Customers’ Accounts at Wells Fargo As Rogue Executive Mounts Year-Long Campaign To Steal Cash: US Bank Regulator

California State

Uber, Lyft, Grubhub and DoorDash scored a major victory in a recent ruling from California's top state court upholding Proposition 22 and the classification of drivers as independent contractors rather than employees. Gig economy companies, as well as drivers who prefer contractor status, think they now have nationwide momentum to...

Uber, Lyft and the gig economy think they've found a way to win the national labor war

While Humana’s new CEO acknowledged shortcomings in the Medicare Advantage business, he signaled out the “strategy of Medicare Advantage plus CenterWell” in playing an important role in the long-term growth of the company. “Our strategy of Medicare Advantage plus CenterWell positions us for sustainable and differentiated long-term...

New Humana CEO sees MA, CenterWell as key to long-term growth

Here are 12 updates on UnitedHealth Group and its subsidiaries that Becker's has reported since July 8:. 1. Former employees with UnitedHealth Group's Optum and its subsidiaries took to social media beginning July 18 regarding another reduction in force they say occurred across parts of the company. 2. UnitedHealth Group...

UnitedHealth Group in the headline: 12 updates

Minnesota State

Minnesota Gov. Tim Walz, the Democratic running mate of Vice President Kamala Harris, owns no stocks, bonds or real estate, according to his most recent financial disclosure. Walz's modest financial profile stands in stark contrast to that of Republican presidential nominee Donald Trump, who is a billionaire several times over, and to Trump's running mate, Sen. JD Vance of Ohio.

Harris running mate Gov. Tim Walz owns no stocks, bonds or real estate, disclosure shows

Fox Business

The energy needs met by fossil fuels will be prevalent "to 2060 and beyond," according to one billionaire businessman who believes Democrats are waking up to that "truth."

Billionaire oil CEO says Democrats are 'starting to recognize' the green energy push is 'all a fallacy'

Kentucky State

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Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

The Motley Fool

The Oracle of Omaha's short-term actions and long-term ethos don't always mesh.

Warren Buffett Has Sold Almost $2.3 Billion of Bank of America Stock -- and It's a Direct Reminder of His $56 Billion Warning to Wall Street

Jessica Jackson was afraid of heights when she first started her job as a wind turbine service technician — now, she spends most of her days working 300 feet in the air. Jackson, 37, is a technician at Vestas, a wind turbine manufacturer, in Bee County, Texas, and earns $73,000 per year.

37-year-old mom earns $73,000 in one of the most in-demand jobs in the world—and it doesn't require a degree: 'I love what I do'

Illinois State

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Chicago, IL

Foodie in Chicago

MOD Pizza has over 500 locations across the country with 22 restaurants in Illinois. The Washington-based chain offers fast-casual fare known for its customized, artisan-style pizzas. Customers can choose from over 40 toppings and 8 sauces to create their own masterpiece.

Bankruptcy Looms for Major Pizza Chain With Chicago Suburban Locations

Chris Pyle spends the entirety of his workdays wearing a white tank top and boxer shorts, sitting in a recliner. It’s an unusual setting for a mechanic, but a profitable one. Pyle started answering strangers’ questions about their gas and diesel engines on JustAnswer as a side hustle in October 2006.

45-year-old mechanic quit his full-time job for his side hustle—now he makes $14,200 a month: My paycheck is ‘very consistent’

BEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. The Chinese economy — home to more than four times the population of the U.S. — has attracted multinational corporations for decades given its large, fast-growing market. But slower growth and intense local competition, amid tensions with the U.S., are now weighing on corporate earnings.

Consumer giants from Starbucks to General Mills have one big sales problem: China

NewsBreak

CVS CEO says she's 'taking direct ownership' to fix Aetna insurance business

In a Wednesday interview with CNBC's Jim Cramer, CVS CEO Karen Lynch said she is taking responsibility for the company's Aetna insurance business after the most...

CVS CEO says she's 'taking direct ownership' to fix Aetna insurance business

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