The Trump administration said Thursday night it is pulling back advertising to promote HealthCare.gov as open enrollment draws to a close for this year. The Health and Human Services Department said in a statement that the government has pulled back about $5 million in ads as part of an effort to cut costs.
Category: Law
Trump Administration Pulls Some Obamacare Ads as Deadline Nears
The Trump administration has pulled some advertising designed to encourage people to sign up for health insurance under the Affordable Care Act, days before the final deadline to buy 2017 health plans under the law. The Department of Health and Human Services withdrew about $5 million of advertising, according to Matt Lloyd, a spokesman for the department.
Two Ex-Och-Ziff Executives Accused by SEC in Bribery Scheme
Two former Och-Ziff Capital Management Group executives, including the ex-head of the hedge fund’s European office, were sued by U.S. regulators over allegations that they spearheaded a sprawling bribery scheme that involved paying tens of millions of dollars across Africa to win business. The Securities and Exchange Commission’s enforcement action against Michael Cohen, who headed the European office, and Vanja Baros, an executive on Africa-related deals, follows a settlement with the U.S. government last year in which an Och-Ziff unit pleaded guilty to violating bribery laws and the firm agreed to pay $415 million.
CFTC Fines E*TRADE For Allegedly Destroying Customer Records
The U.S. Commodity Futures Trading Commission settled charges against Chicago-based E*Trade Securities LLC , an introducing broker, and E*Trade Clearing LLC, the firm’s futures broker-dealer, for record-keeping and supervision violations. According to the CFTC order, between October 2009 and January 25, 2014 E*Trade Securities and E*Trade Clearing allowed audit trail logs for their customers trades to be destroyed after 10 days rather than that maintaining them for use by regulators who use the records to monitor the firm’s compliance with laws and regulations.
Officer’s punch
The 14-year-old girl was upset, possibly suicidal and in need of psychiatric help, court documents say, but there was no way she was getting into an ambulance. St. Paul Police Officer Michael Soucheray and his partner, Chris Rhoades, were sent to defuse the situation at Brittany’s Place, a shelter for girls on the east side of the Minnesota city in December.
Yahoo’s 4Q shows modest strides amid security breach fallout
Yahoo’s financial performance improved slightly during the fourth quarter while the company dealt with the fallout from massive security breaches that have jeopardized the $4.8 billion sale of its internet operations to Verizon Communications. The fourth-quarter report released Monday provided the latest snapshot of a shrinking company that has been steadily losing ground in the digital advertising market that generates most of its revenue.
Banc of California Tumbles as CEO Resigns, SEC Begins Probe
Banc of California Inc. tumbled the most since October after Chief Executive Officer Steven Sugarman resigned and U.S. regulators opened an investigation into whether the firm misled investors in its fight against a short seller. A team of executives will temporarily take over Sugarman’s duties while the firm searches for a replacement, the Irvine, California-based company said Monday in a statement.
Federal judge swats Aetna-Humana insurer combo
A federal judge has rejected health insurer Aetna’s plan to buy rival Humana Inc. for about $34 billion and become a major player in the market for Medicare Advantage coverage. U.S. District Judge John Bates says in an opinion filed Monday that he largely agrees with federal regulators who contended that such a combination would hurt competition.
Aetna And Humana Stock Each Drop 2% In Heavy Volume After Federal Judge Blocks Merger
Aetna Inc. shares dropped 2.4% and Humana Inc. shares dropped 2.0% in heavy volume during midday trade Monday after The Wall Street Journal and Reuters reported that a federal judge had blocked their merger on antitrust grounds. The federal judge’s Monday decision said the DOJ had successfully argued that the deal could hurt consumers with Medicare Advantage plans, according to the WSJ.
3 Biotechs Likely to Be Acquired in 2017
The year is still young, but we’ve already seen acquisitions of Ariad and CoLucid . Which biotechs could be scooped up next in 2017? Here’s why Clovis Oncology The number of big companies battling to acquire Medivationin 2016 shows that the oncology space is hot.
What Does 2017 Hold for Medicare?
Medicare faces substantial uncertainty in 2017, as the incoming Trump administration has already promised to make major healthcare reforms. Although the president said during his campaign that he would not make cuts to Medicare, members of his cabinet and lawmakers in Congress might well see things differently.
Obamacare Failed Because It Made More Sense to Remain Uninsured
Now-former President Barack Obama’s legacy is defined by the passage of the Affordable Care Act, which is more commonly referred to as Obamacare. Obamacare completely changed the way consumers shopped for health insurance and received medical care.
Trump’s First Big Move: Repealing Obamacare Mandate
President Donald Trump late Friday took one of his first major policy actions by issuing an executive order undoing one of the key pillars of the Affordable Care Act, the individual mandate requiring all Americans to carry health insurance or pay a penalty. The newly sworn-in Trump in the Oval Office signed an order giving federal agencies authority to undo rules created under the ACA that obligate them to enforce the penalty for people who do not purchase health insurance as required by the law, also known as Obamacare.
Trump Order Declares He’ll Seek – Prompt Repeal’ of Obamacare
President Donald Trump signed an executive order Friday commanding federal agencies to try to waive or delay requirements of Obamacare that impose economic or regulatory burdens on states, families, the health-care industry and others. The order declares that Trump’s administration will seek the “prompt repeal” of the law and that the government should prepare to “afford the states more flexibility and control to create a more free and open healthcare market.”
Trump Declares in Order He’ll Seek – Prompt Repeal’ of Obamacare
President Donald Trump signed an executive order Friday commanding federal agencies to try to waive or delay requirements of Obamacare that impose economic or regulatory burdens on states, families, the health-care industry and others. The order declares that Trump’s administration will seek the “prompt repeal” of the law, and that the government should prepare to “afford the states more flexibility and control to create a more free and open healthcare market.”
Investment advice? Or sales pitch? New rule will make that clear for investors
Saving small amounts of money can build up enough to invest. There are plenty of ways to get around the minimum investment hurdle at mutual funds.
Pershing Square Pays $75,000 To Settle Pay-to-play Probe
Pershing Square Capital Management reached a $75,000 settlement with the U.S. Securities and Exchange Commission Tuesday regarding a campaign contribution made by a former employee that violated the government’s donation rules. The former employee contributed $500 to a personal friend of a sibling, who tried, unsuccessfully, to enter one of the gubernatorial primaries in Massachusetts.
7 Obamacare Provisions That Could Be Eliminated As Soon As Jan. 20
By the end of this week, President-elect Donald Trump will officially become the 45th president of the United States. With his ascent into the Oval Office will also come a changing of the guard when it comes to policy.
Trumpcare, Not Obamacare, Could Be a Job Killer
In less than one week’s time Donald Trump is set to become the 45th president of the United States, which seemed mighty unlikely about a year and a half ago when campaigning began. While his agenda once in office is seemingly a mile long, at the top of the list appears to be the repeal of the Affordable Care Act, which you probably know best as Obamacare.
What Does 2017 Hold for Obamacare?
The Affordable Care Act became law in 2010, and the law has remained controversial long after its enactment. Until recently, policymakers didn’t expect any major changes to Obamacare during 2017, but they acknowledged that the outcome of the 2016 presidential election would have huge implications for the fate of healthcare reform going forward.
How one womana s fight is helping workers decades after Santa Susana radiation exposure
Bonnie Klea, a former secretary for the Department of Energy who worked at the Santa Susana Field Lab, recently scored a victory on behalf of thousands of workers. Based on documents Klea filed beginning in 2007, the federal government decided that those who were employed by the DOE to work at the Santa Susana Field Lab and related offices from 1948 to 1988 should be compensated for illnesses they may have suffered as a result of working there.
How one womana s fight could help workers decades after Santa Susana radiation exposure
Bonnie Klea, a former secretary for the Department of Energy who worked at the Santa Susana Field Lab, recently scored a victory on behalf of thousands of workers. Based on documents Klea filed beginning in 2007, the federal government decided that those who were employed by the DOE to work at the Santa Susana Field Lab and related offices from 1948 to 1988 should be compensated for illnesses they may have suffered as a result of working there.
Why Portola Pharmaceuticals Crashed 56.4% In 2016
After releasing disappointing phase 3 data early last year and receiving a FDA rejection in August, shares of Portola Pharmaceuticals Portola Pharmaceuticals’ most advanced drugs in development are the factor Xa anticoagulant betrixaban and the factor Xa reversal agent AndexXa. In March, management reported betrixaban phase 3 trial data that left investors questioning the drug’s future.
Fiat Chrysler Halted as EPA Alleges Diesel Emissions Cheat
Fiat Chrysler Automobiles NV shares were halted after plunging the most intraday on record as the U.S. government accused the company of using software that allowed excess diesel emissions in about 104,000 vehicles. The Environmental Protection Agency alleges Fiat Chrysler violated the Clean Air Act by installing and failing to disclose the software in Jeep Grand Cherokee sport utility vehicles and Ram 1500 pickups sold in the U.S., according to a statement.
Fiat Chrysler Shares Crash on Diesel Emission Accusations
Fiat Chrysler was drawn into the automotive emissions scandal Thursday as the Environmental Protection Agency moved to accuse the automaker of violating the Clean Air Act on some of its diesel engines. The EPA is expected to say Fiat used software that allowed it to exceed diesel emission caps in about 100,000 trucks and SUVs sold in the U.S. since 2014.
Cooperman Case Poses Question of When Inside Tips Become Illicit
Regulators pursuing an insider-trading case against billionaire Leon Cooperman say he is using an “astounding theory” to justify trading on non-public information he obtained from a company insider. The U.S. Securities and Exchange Commission said Cooperman is seeking to use a “loophole” in insider-trading law that would “reward deception.”
Two Day Seminar: FDA’s Medical Device Software Regulation Strategy…
Research and Markets has announced the addition of the “FDA’s Medical Device Software Regulation Strategy: 2-Day In-Person Seminar by Ex-FDA Official” conference to their offering. The growth of the medical software industry outpaces the design of FDA’s regulatory process.
What’s In Store For Freelancers Under President Trump?
When American freelancers were asked which presidential candidate they supported this summer, 45% sided with Clinton, while 33% preferred Trump, according to a survey commissioned by Upwork and the Freelancer Union. Now that Trump is set to become the 45th president of the U.S. this month, some believe that his victory may ultimately prove beneficial to the country’s 55 million freelance, contract, and contingent workers.
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After the company reported in December that a key late-stage drug had come up short in trials, a sharp sell-off caused Opko Health to finish the fourth quarter down 12.2%, capping a 7.5% loss for the year,according to S&P Global Market Intelligence . Opko Health is run by billionaire CEO Phillip Frost, and until recently, Frost has been very successful at commercializing clinical-stage drugs that he’s purchased for Opko Health at bargain prices.
Here’s Why Merrimack Pharmaceuticals Inc. Fell 47.3% in 2016
Investors in the cancer-focused biotech had to stomach a 47% decline during the year, according to data from S&P Global Market Intelligence . That was a far worse decline than the 17% pullback that was rung up by the First Trust NYSE Arca Biotech ETF As the chart above indicates, Merrimack’s stock gave its investors a wild ride during 2016.
Fresenius Medical Care Slumps After Patient-Aid Subpoena
Fresenius Medical Care AG fell the most in almost seven months after saying it had received a subpoena in the U.S. over premium-assistance programs that support dialysis patients on private insurance plans that can be more lucrative for providers. Fresenius said the U.S. Attorney for the District of Massachusetts is investigating its connections to the American Kidney Fund, which manages a patient-assistance program for the private plans.
Capito announces committee assignments
Capito will continue to serve on the U.S. Senate Committees on Appropriations, Environment and Public Works, and Rules and Administration.
Silicon Valley Cash Is Still Chasing Blood Despite Theranos Bust
Amid the collapse of Theranos Inc. last year, investors are betting that some of the disgraced blood-testing startup’s lofty medical goals might still have a kernel of promise — at other companies. Grail, a company backed by Bill Gates and Jeff Bezos, said on Thursday that it’s expecting to raise a record $1 billion on the promise of a blood test to detect early-stage cancer.
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If you simply buy — without the use of any margin — the entire stock market via an index fund, it’s all but impossible to lose all of your money. Indeed, an index fund represents an ownership interest in a well-diversified group of U.S. businesses; the risk of total loss is vanishingly small.
Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales
Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron Thursday to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.
Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales
Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.
How Senator Rand Paul Would Replace Obamacare
Sen. Rand Paul (R-KY) weighs in on the Senate Democrats' push to block the Obamacare repeal. As the new Republican-controlled Congress moves forward with its goal of repealing the Affordable Care Act, the biggest question now is what will replace it.
Why Valero Energy, Ensign Group, and The Bancorp Slumped Today
Wednesday was another good day for the stock market, as major market benchmarks posted gains of between 0.25% and 1% to climb back within reach of new record levels. Many market participants focused on the release of the Federal Open Market Committee’s most recent meeting minutes, which didn’t have any major surprises that threatened the positive mood among investors.
Why White House released report on regulation when no one was looking
While most of us were enjoying the holidays and opening our presents, the Office of Management and Budget belatedly released its required annual report to Congress on the costs and benefits of regulations. The report tallies agency analyses of the costs and benefits of regulations issued between October 2014 and September 2015.
Deals Lawyer Said to Be a Contender to Lead SEC Under Trump
President-elect Donald Trump is considering nominating Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, potentially positioning a top lawyer to banks and hedge funds to lead Wall Street’s main regulator, said a person with knowledge of the matter. Clayton, who met with Trump last month, has represented Goldman Sachs Group Inc. and investment firms ranging from Och-Ziff Capital Management Group LLC to Oaktree Capital Group LLC, according to Sullivan & Cromwell’s website.