Andrew Witty, CEO of UnitedHealth Group, testifies during the Senate Finance Committee hearing titled “Hacking America’s Health Care: Assessing the Change Healthcare Cyber Attack and What’s Next,” in the Dirksen Building in Washington, D.C., on May 1, 2024.Tom Williams | Cq-roll Call, Inc. | Getty ImagesUnitedHealth Group on Tuesday announced the surprise exit of CEO Andrew Witty and suspended its 2025 forecast, sending shares of the health-care giant tumbling more than 10% in morning trading. Witty is stepping down immediately for “personal reasons,” the company said. He will act as a senior advisor to his successor, Stephen Hemsley, who served as…
Author: usaeverydaylife
Family offices are set to grow at a rapid pace as the ultra-rich look for personalized services to handle their wealth. But they are struggling to find money managers. As of last September, there were 8,030 family offices globally managing $3.1 trillion in assets, according to Deloitte’s recent statistics. By 2030, the number of family offices is expected to grow to 10,720 with $5.4 trillion in assets under their management.”We estimate that by 2034, at current advisor productivity levels, the [wealth] advisor workforce will decline to the point where the industry faces a shortage of roughly 100,000 advisors,” McKinsey said…
Warren Buffett’s retirement announcement got most of the attention at Berkshire Hathaway’s 2025 annual meeting, but the billionaire investor also used the event to share a “fascinating” movie recommendation.”Check out ‘Becoming Katharine Graham’ and you’ll see a remarkable story of American history,” Buffett told attendees at the meeting, which took place on May 4. The documentary, which started streaming on Amazon Prime in February, covers the life of the longtime publisher of The Washington Post who led the newspaper through pivotal historical moments, including its reporting on the Pentagon Papers and Watergate.”There are a good many portions in there that…
The French movie star Gérard Depardieu was convicted by a Paris court on Tuesday on charges of sexually assaulting two women working on the set of a film in which he was starring in 2021. He received a suspended sentence of 18 months, and his name will be added to the national sex offender registry.The judge also ruled that Mr. Depardieu, now 76, pay damages of 15,000 euros, about $17,000, to one of the two victims and €14,040, including her medical fees, to the other.Mr. Depardieu was not in court for the ruling. His lawyer, Jérémie Assous, said he would…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are building on Monday’s strong gains, following a major step toward de-escalating the U.S.-China trade war, as both countries agreed to reduce tariffs while a bigger deal is worked out. With Tuesday’s rally, the S & P 500 has turned positive for the year and is now trading at its highest level since mid-March. For the second consecutive day, the market rally is being led by the consumer discretionary…
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City. Spencer Platt | Getty Images The U.S. Federal Reserve at its May 7 meeting warned that America is facing an increased risk of stagflation — a scenario in which the economy slows or contracts while inflation shoots up — because of hefty tariffs imposed by President Donald Trump from April 2.Inflation data released Tuesday, however, showed that prices haven’t grown hotter yet. In fact, the annual reading came in lower than expected, and the core figure, which excludes volatile food and energy prices, was…
The ‘Fast Money’ traders talk sectors to watch during market recovery. Source link
President Donald Trump waits for the arrival of Canadian Prime Minister Mark Carney at the White House in Washington, DC, on May 6, 2025.Jim Watson | Afp | Getty ImagesDebate for the House Republicans’ tax bill is underway — and experts are watching to see which of President Donald Trump’s priorities make the final cut.The House Ways and Means Committee, which has jurisdiction over tax, released the full text of its portion of the bill Monday afternoon, and started to debate over provisions on Tuesday.GOP lawmakers included several of Trump’s campaign priorities, including tax cut extensions, no tax on tips and tax-free overtime…
A Samsung Group flag flutters in front of the company’s Seocho building in Seoul. Sopa Images | Lightrocket | Getty ImagesSamsung Electronics on Wednesday announced that it would acquire all shares of German-based FläktGroup, a leading heating and cooling solutions provider, for 1.5 billion euros ($1.68 billion) from European investment firm Triton. Samsung said the acquisition would help it expand in the heating, ventilation and air conditioning business as the market experiences rapid growth. “Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine,” said TM Roh, Acting Head of the Device eXperience (DX)…
Israeli fighter jets bombed the southern Gaza city of Khan Younis on Tuesday evening in an attempt to kill Muhammad Sinwar, one of Hamas’s remaining top leaders in the enclave, according to three Israeli officials.All three officials spoke on the condition of anonymity because they were not authorized to speak publicly.Around the same time, the Israeli military said its forces had struck a Hamas command center underneath the European Hospital near Khan Younis. An Israeli military spokeswoman declined to say whether Mr. Sinwar had been targeted in that strike. The health ministry in Gaza said that at least six people…
