BOSTON — Members of a U.S. Senate committee looking into the bankruptcy of Steward Health Care adopted two resolutions Thursday designed to hold CEO Ralph de la Torre in contempt — one for civil enforcement and another for criminal contempt — for not testifying before the panel. The votes come after de la Torre refused … Read more
Intel CEO Patrick Gelsinger speaks at the Intel Ocotillo Campus in Chandler, Arizona, on March 20, 2024. Brendan Smialowski | AFP | Getty Images It was quite a week for Intel. The chipmaker, which has lost over half its value this year and last month had its worst day on the market in 50 years … Read more
Boeing factory workers gather on a picket line during the first day of a strike near the entrance of a production facility in Renton, Washington, U.S., September 13, 2024. Matt Mills Mcknight | Reuters RENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. A … Read more
The federal government is suing some big pharmacy benefit managers over a system of drug rebates that regulators say has made the price of insulin soar for diabetic patients. Three companies that process about 80% of prescriptions in the United States — Caremark, Express Scripts and OptumRx — have engaged in anticompetitive practices that spur … Read more
RH CEO Gary Friedman told CNBC’s Jim Cramer on Friday why the upscale home furnishing retailer doesn’t have any official social media accounts, saying paid promotions by online influencers aren’t authentic. “The great brands that stand the test of time, they earn it, right,” Friedman said. “They tell the truth. And, you know, having fake … Read more
NEW ORLEANS — A constitutional challenge to the Biden administration program enabling Medicare to negotiate lower prices for widely used prescription drugs was revived by a federal appeals court in New Orleans in a 2-1 decision Friday. Congress created the program as part of the Inflation Reduction Act passed in 2022. The first 10 drugs … Read more
A man has cautioned workers to be careful when messaging colleagues on work communication platforms after he revealed he was almost dismissed after having a laugh with a workmate on a Skype business account. UK influencer Owen Willis said in a TikTok video that he went through the eye-opening experience when he was 17 years … Read more
CNBC’s Jim Cramer on Friday walked investors through next week’s notable Wall Street action, pointing to quarterly reports from Costco and KB Home, as well as new economic data that could inform the Federal Reserve’s next decision about interest rates. But regardless of the week’s events, Cramer said the Fed’s successful start to the easing … Read more
Adam Schefter was surprised the first time he heard his friend Adrian Wojnarowski was considering retiring from his job as ESPN’s NBA reporter. When Wojnarowski announced his decision Wednesday, though, he wasn’t. That’s because Schefter is part of a small circle in sports media that knows what the job of being an insider entails. “To … Read more
Adam Schefter was surprised the first time he heard his friend Adrian Wojnarowski was considering retiring from his job as ESPN’s NBA reporter. When Wojnarowski announced his decision Wednesday, though, he wasn’t. That’s because Schefter is part of a small circle in sports media that knows what the job of being an insider entails. “To … Read more
