Photo: Spencer Platt (Getty Images) U.S. stocks plummeted on Friday on poor economic news. Consumer confidence weakened to the lowest level since November 2023, even as long-run inflation expectations rose to the highest since 1995. The services purchasing managers’ index fell into contractionary territory and January home sales contracted by more than expected. As the…
Wall Street’s main indexes were set for weekly declines on Friday, as fresh data painted a weak picture for the American economy, while UnitedHealth dropped after a report that the Justice Department is investigating the healthcare conglomerate. In afternoon trading, the Dow Jones Industrial Average slumped 704 points, or 1.6%, to 43,472. The S&P 500 dropped 1.4%, and the Nasdaq lost…
The Department of Justice has reportedly launched an investigation into UnitedHealth Group’s Medicare billing practices as scrutiny over the health insurance industry intensifies — sending the company’s stock plummeting. The probe is analyzing the company’s practice of frequently logging diagnoses that trigger larger payments to its Medicare Advantage plans, according to The Wall Street Journal….
(Reuters) -The U.S. Justice Department has launched an investigation into UnitedHealth’s Medicare billing practices in recent months, the Wall Street Journal reported on Friday, citing people familiar with the matter. Shares of the company fell nearly 10% in premarket trading. Shares of other health insurers also fell before the bell. NYSE – Nasdaq Real Time…
(Reuters) – Authorities have identified the man suspected of killing UnitedHealth executive Brian Thompson and are closing in on him, New York City Mayor Eric Adams was quoted as saying on Saturday by the New York Post. “The net is tightening,” Adams told reporters at a Police Athletic League holiday party in Harlem, according to…