UnitedHealth sues ex-executive for taking trade secrets to Amazon health venture

Health care giant UnitedHealth Group is suing one of its former executives for stealing trade secrets and taking them to a firm they consider a direct competitor — Amazon’s new health venture with Berkshire Hathaway and J.P. Morgan Chase. United’s Optum unit is suing former information technology executive David Smith for breach of contract in […]

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Five people shot dead at SunTrust Bank in Florida, suspect in custody

Chris O’Meara | AP A Highlands County Sheriff’s SWAT vehicle is stationed out in front of a SunTrust Bank branch, Wednesday, Jan. 23, 2019, in Sebring, Fla., where authorities say five people were shot and killed. A suspected gunman was in custody Wednesday after five people were shot dead at a SunTrust bank in Sebring, […]

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Jeff Bezos’ pep talk to Blue Origin employees before a rocket launch

The space venture of Amazon CEO Jeff Bezos is getting close to flying its first astronauts and the billionaire founder is feeling the significance of the company’s ambition. Blue Origin successfully completed its 10th flight on Wednesday. The company’s livestream showed a video of Bezos speaking during the “Flight Readiness Review” of Blue Origin’s ninth […]

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Recession fears are spreading, but Goldman Sachs says don’t worry

“The classic risks of financial imbalances and asset bubbles could re-emerge, and both the growing financialization of the US economy and the increased global transmission of financial shocks … could present new risks,” Hatzius wrote. “But risk from financial imbalances seems to be in abeyance at present, partly because of crisis-induced caution on the part […]

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This is the electric Porsche sports car people are lining up for

Porsche is already having to double its production plan on the electric car it hasn’t even released yet. The German car maker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on […]

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Dimon says US has some of the worst health outcomes despite best system

J.P. Morgan CEO Jamie Dimon renewed his criticism of health care in the U.S. on Wednesday, saying Americans have some of the “worst outcomes” despite having the best system in the world, he told CNBC’s “Squawk Box.” “With health care, we have the best in the world — doctors, hospitals, pharma, you name it — […]

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Walmart upgraded at Morgan Stanley amid ‘unprecedented’ cost control

Walmart remains one of just a few good stocks among the nation’s largest retailers despite a forecast for declining earnings per share in 2019, according to Morgan Stanley. Analyst Simeon Gutman upgraded shares to an overweight rating from equal weight on Wednesday and told clients to expect it to outperform its peers over the next […]

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Al Gore and Prince William privately meet at Davos

The former vice president, who’s been involved with the fight against global climate change since at least the early 2000’s, told the Davos audience in the buildup to his panel yesterday that scientific research showing environmental degradation proves changes need to be made. “All of these findings add up to a very simple message: We […]

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US futures point to a muted open, trade and earnings in focus

The tepid trading seen in futures comes after Wall Street closed its previous session deep in the red. On Tuesday, the Dow Jones Industrial Average snapped its four-day winning streak, closing down more than 300 points lower, as global growth fears added jitters to market sentiment. Earlier this week, the International Monetary Fund (IMF) announced […]

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GDP damage from government shutdown is temporary

The Trump administration expects the partial government shutdown to hit gross domestic product growth, but thinks the economy will bounce back quickly after it ends, White House economic advisor Larry Kudlow said Tuesday. The closure, which started on Dec. 22, is in its 32nd day. About 800,000 federal workers have already lost one paycheck and […]

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USDA calls 9,700 furloughed workers back amid shutdown

The U.S. Department of Agriculture announced Tuesday that it will reopen all Farm Service Agency offices nationwide, temporarily calling nearly 10,000 furloughed federal employees back to work even as the longest-ever government shutdown dragged on. The employees, whose local and state offices had been largely shuttered when a quarter of the federal government shut down […]

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