PARIS (Reuters) – Axa on Wednesday said its revenue in the first nine months of the year increased by 2% and estimated it would have to pay out about 400 million euros ($394 million) for damages caused by hurricane Ian in the United States. The French insurer – Europe’s second-biggest after Germany’s Allianz – said…
DENVER (Reuters) – Shares of U.S. shale producer Devon Energy slumped more than 7% on Wednesday morning after the company said its capital spending would be higher than Wall Street forecasts, while output in the fourth quarter fell short of expectations. Devon’s fourth-quarter total production forecast of 640,000 barrels of oil equivalent per day (boepd)…
By Brendan Pierson (Reuters) -CVS Health Corp, Walgreens Boots Alliance Inc and Walmart Inc have agreed to pay about $13.8 billion to resolve thousands of U.S. state, local and tribal government lawsuits accusing the pharmacy chains of mishandling opioid painkillers. CVS said Wednesday it had agreed to pay about $5 billion over 10 years, and…
(Reuters) -Humana Inc beat third-quarter profit estimates on Wednesday, as a sluggish recovery in elective procedures helped the health insurer keep medical costs in check. Rivals such as UnitedHealth Group Inc and Elevance Health have also benefited from lower-than-expected medical costs, prompting them to raise their full-year forecasts. Humana, however, maintained its annual adjusted profit…
(Reuters) -CVS Health Corp on Wednesday raised its annual profit forecast after topping quarterly estimates on strong performance at its health insurance and pharmacy benefit management businesses. CVS’ health insurance business as well as peers Elevance Health and UnitedHealth have benefited from a slow recovery in elective procedures and a fall in COVID cases that…
By Shubham Batra and Amruta Khandekar (Reuters) -U.S. stock index futures were mostly flat on Wednesday ahead of a widely expected super-sized rate hike from the Federal Reserve, with investors looking for signs the central bank could temper its aggressive stance on future interest rate increases. The Fed is expected to deliver a fourth straight…
By Brendan Pierson (Reuters) – CVS Health Corp, Walgreens Boots Alliance Inc and Walmart Inc have tentatively agreed to pay about $13.8 billion to resolve thousands of U.S. state and local government lawsuits accusing the chains of mishandling opioid painkillers, according to two people familiar with the negotiations. The proposed settlement calls for CVS to…
TOKYO (Reuters) – Mitsubishi Motors Corp, a junior partner in the Nissan Motor Co and Renault alliance, has not made a decision yet on whether to invest in the French automaker’s electric vehicle company, a top executive said on Wednesday. “It’s necessary to gain the full understanding of our shareholders and board members, and for…
(Reuters) – European shares opened higher on Wednesday on a boost from Danish drugmaker Novo Nordisk, while hopes grew that the U.S. Federal Reserve would signal a slowdown in its aggressive policy tightening cycle later in the day. The pan-European STOXX 600 index rose 0.3% by 0812 GMT, with Novo Nordisk jumping 4.5% as it…
By Isabel Kua SINGAPORE (Reuters) -Oil prices rose on Wednesday after industry data showed a surprise drop in U.S. crude stocks, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude rose 54 cents, or 0.6%, to $95.19 a barrel by 0723 GMT, while U.S. West Texas Intermediate (WTI) crude…
