Bloomberg | Bloomberg | Getty ImagesThe U.S. Department of Justice (DOJ) is investigating UnitedHealth Group for possible Medicare fraud, the Wall Street Journal reported on Wednesday.While the exact nature of the criminal allegations are unclear, the Journal said, citing people familiar with the matter, the probe by the healthcare-fraud unit of the DOJ’s criminal division is active since at least last summer.Reuters could not immediately confirm the details of the report.The company’s stock fell 6.7% in after-hour trade following the WSJ report.In February, the Journal had reported a civil fraud investigation by the DOJ into the company’s practices for recording diagnoses that triggered extra payments…
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Pedestrians walk by an advertisement for Klarna.Daniel Harvey Gonzalez | In Pictures via Getty ImagesKlarna CEO Sebastian Siemiatkowski said the company has managed to shrink its headcount by about 40%, in part due to investments in artificial intelligence and natural attrition in its workforce.”The truth is, the company has shrunk from about 5,000 to now almost 3,000 employees,” Siemiatkowski told CNBC’s “Power Lunch” on Wednesday. “If you go to LinkedIn and look at the jobs, you’ll see how we’re shrinking.”The Swedish fintech provider has been outspoken about its aggressive adoption of AI tools across the company, while touting the productivity…
© Marco Bottigelli | Moment | Getty ImagesAsia-Pacific markets were set to fall Thursday, after mostly gaining in the previous session on easing U.S.-China trade tensions. Japan’s benchmark Nikkei 225 was set to open lower, with the Chicago futures contract at 37,710 while its counterpart in Osaka last traded at 37,640 against the index’s last close of 38,128.13.Australia’s benchmark S&P/ASX 200 was set to open flat, with futures at 8,271, compared with the index’s last close of 8,279.6.Futures for Hong Kong’s Hang Seng index last traded at 23,554, lower than the index’s last close of 23,640.65.U.S. stock futures slipped in…
A host of star stock pickers shared their best ideas at the prestigous 2025 Sohn Investment Conference in New York on Wednesday. The annual conference aims to raise funds for the Sohn Conference Foundation to contribute to medical research and is one of the most high-profile gatherings on Wall Street. Among the top conviction picks offered this year by a number of seasoned investment pros speaking before a rapt audience were: Sea Ltd. John Yetimoglu, chief investment officer at Infinitum Partners, saw huge growth ahead for Sea Ltd. , a tech conglomerate headquartered in Singapore, which he called the Amazon…
Caleb Silver, Investopedia, joins ‘Fast Money’ to talk its latest investor sentiment survey. Source link
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 14, 2025. REUTERS/Brendan McDermidBrendan Mcdermid | ReutersS&P 500 futures slipped in overnight trading after the broad market index 500 strung together a third consecutive advance in reaction to the Trump administration and China hammering out a temporary suspension of their tit-for-tat tariff dispute.Futures tied to the S&P 500 were down 0.2%, while Nasdaq-100 futures lost 0.1%. Dow Jones Industrial Average futures fell 154 points, or nearly 0.4%.In after-hours trading, shares of Foot Locker surged 67% after The Wall Street Journal reported, citing people…
U.S. President Donald Trump and Boeing CEO Kelly Ortberg attend a signing ceremony with Qatar’s Emir Tamim bin Hamad Al Thani (not pictured), in Doha, Qatar, May 14, 2025. Brian Snyder | ReutersMore than 30 business leaders representing America’s top companies joined President Donald Trump on Tuesday for a lunch in Saudi Arabia during the president’s high-stakes Middle East tour.A list provided by the White House includes executives from big banks, AI companies, defense contractors and retail giants. It also paints a larger picture of executives and companies that have cultivated ties with the second Trump administration.The impetus to be…
An Amazon device is displayed at an Amazon Devices launch event in New York City, U.S., Feb. 26, 2025.Brendan McDermid | ReutersAmazon is laying off roughly 100 employees in its devices and services division, the company confirmed on Wednesday.The devices and services unit includes a wide range of businesses, such as the Alexa voice assistant, Echo hardware, Ring video doorbells and Zoox robotaxis.”As part of our ongoing work to make our teams and programs operate more efficiently, and to better align with our product roadmap, we’ve made the difficult decision to eliminate a small number of roles,” Amazon spokesperson Kristy…
When President Trump declared from the stage of an opulent ballroom in Saudi Arabia that the United States was done nation-building and intervening, that the world’s superpower would no longer be “giving you lectures on how to live,” his audience erupted in applause.He was effectively denouncing decades of American policy in the Middle East, playing to grievances long aired in cafes and sitting rooms from Morocco to Oman.“In the end, the so-called nation builders wrecked far more nations than they built,” Mr. Trump said on Tuesday, during a sweeping address at an investment conference in the Saudi capital of Riyadh.…
Steve Cohen said Wednesday he sees the possibility that stocks could retest their lows from April following the market’s dramatic comeback. “I don’t expect, you know, a significant decline. I think this is possible we can go back toward the lows which is 10%, 15% [from here] so it’s not a calamity,” the founder of Point72 said at the Sohn Investment Conference in New York. “What Trump did recently actually raises the floor and eliminates perhaps the dire scenario.” Cohen’s comments came after the U.S. and China suspended reciprocal tariffs pending a 90-day negotiating period, which sparked a sharp rally…
