A CVS location in New York, US, on Thursday, Feb. 9, 2023. Stephanie Keith | Bloomberg | Getty Images CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that are dogging the broader insurance industry. The company lowered its … Read more
D3sign | Moment | Getty Images Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday. Debt that has transitioned into “serious delinquency,” or 90 days or more past due, increased across multiple categories during the year, but none more so … Read more
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. Brendan McDermid | Reuters Eli Lilly on Tuesday said its highly popular drug used for weight loss and diabetes showed promise as a treatment for fatty liver disease in a mid-stage trial. The initial study … Read more
Adam Neumann wants to buy real-estate company WeWork, the company he co-founded in 2010 and that ousted him nine years later, out of bankruptcy citing the support of “well-known capital sources” including Dan Loeb’s Third Point. But the hedge fund told CNBC that it had not committed any financing and that discussions with Neumann were … Read more
Eli Lilly logo is shown on one of the company’s offices in San Diego, California, U.S., September 17, 2020. Mike Blake | Reuters Eli Lilly on Tuesday reported fourth-quarter revenue and adjusted earnings that topped expectations on the strong launch of its new weight loss drug, Zepbound, and higher prices for its blockbuster diabetes drug, Mounjaro. … Read more
Fabrice Coffrini | Afp | Getty Images Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to shareholders of $279 million for the quarter, its second … Read more
Injection pens of Novo Nordisk’s weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, November 21, 2023. Victoria Klesty | Reuters Novo Nordisk‘s parent company on Monday said it will acquire drug manufacturer Catalent in a $16.5 billion deal that could help boost the supply of the highly popular weight loss injection … Read more
Federal Reserve Chair Jerome Powell holds a press conference following the release of the Fed’s interest rate policy decision at the Federal Reserve in Washington, U.S., January 31, 2024. Evelyn Hockstein | Reuters Federal Reserve Chair Jerome Powell vowed in an interview aired Sunday that the central bank will proceed carefully with interest rate cuts … Read more
Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth. Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held … Read more
Facebook CEO Mark Zuckerberg is seen after fencing in the “Metaverse” with an Olympic gold medal fencer during a live-streamed virtual and augmented reality conference to announce the rebrand of Facebook as Meta, in this screen grab taken from a video released Oct. 28, 2021. Facebook | via Reuters Meta CEO and co-founder Mark Zuckerberg … Read more
