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Blankfein isn't planning to die at his desk at Goldman, after all. Express Scripts CEO sees Amazon as a potential pharmacy partner. Express Scripts had a word of caution for Amazon as it weighs its push into the multibillion-dollar pharmacy market.
"What [Amazon] will see is the magic isn't in lower net prices to consumers. It's getting the right drug to consumers and helping them navigate the system — all things we've built a business over 30 years to do," Express Scripts CEO Tim Wentworth told CNBC on Thursday. CNBC reported in May that Amazon was hiring in an effort to figure out how to break into a market, which Wentworth called highly competitive.
While not a done deal, Wentworth said he is "confident" Amazon is examining an entrance, "as they should be. " Wentworth said he sees Amazon more as a potential partner, rather than as a threat to Express Scripts' current share of the market. OPEC, Russia on track to announce deal extension but there could be caveats. One-third of US workers could be jobless by 2030 due to automation. As much as one-third of the United States workforce could be out of a job by 2030 thanks to automation, according to new research from McKinsey.
The consulting firm now estimates that between 400 million and 800 million individuals globally could be displaced by automation and need to find new work. "Even if there is enough work to ensure full employment by 2030, major transitions lie ahead that could match or even exceed the scale of historical shifts out of agriculture and manufacturing," according to a report by the McKinsey Global Institute published this month. "Even as it causes declines in some occupations, automation will change many more – 60 percent of occupations have at least 30 percent of constituent work activities that could be automated. " As economic confidence rises, employers rein in holiday bonuses: Poll. Stronger corporate profits and increased economic confidence among employers may not translate to an end-of-year cash bonus for workers.
Thirty-nine percent of companies will be awarding a cash bonus this year, according to a new survey from outplacement firm Challenger, Gray & Christmas. The new numbers, based on a survey of about 150 human resources executives in October and November, fell from 41 percent who said their companies would award a companywide or performance-based cash bonus last year. Ray Dalio bought his first stock at age 12 and tripled his money. Small restaurants could win from Deliveroo Editions central kitchen. Simon Dawson | Bloomberg | Getty Images A food delivery cycle courier waits for orders from Deliveroo, operated by Roofoods, in London, U.K., on Dec. 22, 2016.
Food delivery start-up Deliveroo, reportedly valued at over $2 billion after its latest round of funding, plans to push out a novel food delivery strategy to more cities around the globe. The big winners of the global tech firm's move are likely to be small local restaurants. California college students are turning to food stamps. Egypt raises death toll in Sinai mosque attack to 305. Egypt on Saturday said an attack on a mosque by militants in the country's troubled region of northern Sinai has killed 305 worshippers, including 27 children, a dramatic increase in the death toll previously announced, which was 235.
A statement by the country's chief prosecutor, Nabil Sadeq, said the attack Friday left another 128 people wounded. It said the attackers, estimated at between 25 and 30, arrived at the mosque close to the small town of Bir al-Abd in five all-terrain vehicles and positioned themselves at the main door and the facility's 12 windows before opening fire.
They also torched seven cars parked outside the mosque, which belonged to worshippers inside. Wal-Mart out of stock online on Black Friday, ahead of Cyber Monday. Wal-Mart is counting down to its mega Cyber Monday sales event, but the big-box retailer was already running out of stock of some items online on Thanksgiving Day.
Wal-Mart kicked off its Black Friday sales online at midnight Thursday, and soon after customers angrily took to social media, claiming they couldn't find what they were looking for. Items including a Sharp 55" Class 4K Smart LED TV and boys pajamas were some of the products no longer available on Walmart.com as of Friday morning. CBS, Dish Network reach a deal to end blackout over fees. CBS and Dish Network resolved a dispute over the fees the satellite TV provider pays to the broadcaster, ending a three-day blackout that affected customers across 26 states.
CBS said late Thursday it reached a multi-year agreement with Dish for carrying its local stations as well as three cable channels. Financial terms of the deal were not disclosed. The agreement comes just ahead of the Southeastern Conference football coverage over the weekend. The blackout had prevented nearly 3 million Dish subscribers from watching the NFL's Los Angeles Chargers play the Dallas Cowboys on the Thanksgiving holiday.
The Google Glass app Aira is helping give sight to my blind aunt. Zimbabwe's Mugabe granted immunity as part of resignation deal: Sources. Boeing 747 sold in online auction on Alibaba's Taobao. Two Boeing 747-400s sold on an Alibaba-owned e-commerce website for $48 million, making the pair of jumbo jets the highest-value sale ever for Taobao.
The two "Queens of the Sky" were from a bankrupt cargo company, Jade Cargo International, and sold to Chinese logistics company SF Express, according to the listing. The Intermediate People's Court of Shenzhen City had attempted six previous offline auctions, BBC reported, before putting the planes up on Taobao. The bids on one of the planes opened Monday at 135 million yuan, with 27 bids placed before the final sale of just over 162 million yuan, or about $25 million. A third plane went unsold due to only one buyer registering to bid, Chinese news agency Xinhua reported. The bids still are not the highest ever sale on an online auction site, according to BBC. CFOs say corporate tax reform biggest business news in 2017. Tax reform is top of mind for CFOs this year, according to the latest CNBC Global CFO Council survey, with 20 percent of respondents saying it is the most important business story of 2017.
Furthermore, a majority of North American CFOs (54.2 percent) say they support the passage of the Tax Cuts and Jobs Act, which passed the House last week, while 20.8 percent oppose it. Regardless of support, CFOs seem to be confident that the bill's reforms will have a positive impact on U.S. economic conditions. In addition, 70.9 percent agree (29.2 percent strongly) that corporate tax reforms will create more U.S. jobs, while 83.3 percent agree (20.8 percent strongly) that corporate tax reforms will stimulate U.S. economic growth. Russia probe hits DOJ with request for documents about Comey firing: Report. Investigators working for special counsel Robert Mueller have issued a request to the Department of Justice for documents related to the firing of former FBI Director James Comey, ABC News reported late Sunday.
The DOJ had already turned over a letter drafted by the president, but never sent, that "offered an unvarnished view of Mr. Trump's thinking in the days before" he fired Comey, The New York Times reported in September. 'New normal' of geopolitical risk likely to boost gold prices in coming years, Citi forecasts. "Event-driven bids for gold seem to be occurring more frequently and may be the new normal… In short, even as the rates and forex channel dominate the outlook for gold pricing, the yellow metal is increasingly being used by investors as a policy and tail risk hedge," Citi said. Citi projected gold prices are on track to notch levels of $1,270 per ounce by the end of 2018, before climbing to around $1,350 per ounce and $1,370 per ounce over the next two calendar years.
"Philosophically everyone wants gold, it should always be safe but there is huge downside risk," Nandini Ramakrishnan, global markets strategist at JPMorgan, told CNBC Monday. Ramakrishnan said gold prices had witnessed "massive moves akin to the equity market," before adding that investors should treat the commodity with caution. Thanksgiving week is usually good for stocks. Stocks have a good chance of trading higher in the week ahead, if the typical Thanksgiving holiday week trading patterns take over. The S&P 500 has averaged a gain of 0.6 percent during Thanksgiving week, and has been higher 75 percent of the time since 1945. In the years when the market is already up 10 percent or more, Thanksgiving week was even stronger — gaining nearly 0.8 percent on average, according to Bespoke. In the past week, the S&P 500 and Dow finished slightly lower, ending their worst two-week streak since August.
The Nasdaq, however was in the green, up a half percent in its seventh positive week in eight. All three are within about 1 percent of their record highs. Business inventories unchanged in September vs expectation of 0.2% gain. U.S. business inventories were unchanged in September amid a jump in sales, government data showed on Wednesday. The Commerce Department said the unchanged reading in business inventories followed a downwardly revised 0.6 percent increase in August. Inventories are a key component of gross domestic product and were previously reported to have risen 0.7 percent in August.
Retail inventories fell 0.9 percent in September instead of the 1.0 percent drop reported last month. Inventory investment contributed 0.73 percentage point to the economy's 3.0 percent annualized growth pace in the third quarter. Budget airlines line up for new planes for the cheapest travelers. Airlines are warring over wealthy travelers, spending millions on plush first-class cabins that look more like flying hotel rooms than seats on a commercial airliner. But other carriers think the thriftiest travelers are worth billions. The blockbuster deal at the Dubai Air Show was a monster order Wednesday from a private equity firm for 430 single-aisle Airbus jets.
Airbnb buys Accomable to make its listings more disability-friendly. Charleston mansion and penthouse may break real estate records. Who bought the $450 million da Vinci? How to take a great vacation in Cuba despite Trump's new restrictions. US retail sales rose 0.2% in Oct, vs unchanged reading expected. U.S. retail sales unexpectedly rose in October as an increase in purchases of motor vehicles and a range of other goods offset a decline in demand for building materials, suggesting consumer spending remained fairly strong early in the fourth quarter.
The Commerce Department said on Wednesday retail sales increased 0.2 percent last month. Data for September was revised to show sales jumping 1.9 percent rather than the previously reported 1.6 percent advance. Lebanon accuses Saudi Arabia of holding its PM hostage. The selling finally stops in GE as shares rebound after 12% two-day dive. Moderate Collins back in prominent role in Senate tax drama. Collins, along with McCain, Murkowski and Senator Ron Johnson, has emerged in the past 24 hours as pivotal to winning Senate approval of the tax-cut plan, which is backed by the president and is critical to the party's 2018 electoral prospects as they seek their first major legislative win since Trump took office in January. In an unexpected move, McConnell on Tuesday inserted a proposed individual mandate repeal in the Senate tax plan. Wal-Mart's earnings, sales top Street expectations. Wal-Mart's same-store sales for its U.S. locations climbed for the 13th-consecutive quarter, as the big-box retailer cited a bright spot in its food business, aided by some devastating hurricane relief efforts.
Expect bonuses, not pay raises, this holiday season. Lebanon accuses Saudi Arabia of holding its PM hostage. Here’s where inflation is hitting your wallet the hardest. Square Cash app letting some users buy and sell bitcoin. Bill Gates says technology could 'accentuate' gap between rich and poor. Investors are riding the equity rally all the way through to Christmas. Anheuser-Busch InBev taps new US chief to turn around sluggish sales. Most NFL owners want to wait on Goodell's contract extension: Sources.
GE announces dividend cut, broad restructuring. GE CEO Flannery: I'm not surprised by our stock's 2-day plunge. Risks ahead for US tax push as disputes linger, Trump returns. SoftBank says considering investment in Uber but no final agreement reached. Magnitude 6.5 quake hits Costa Rica coast, shakes capital. Backing Big Brother: Investors are pouring into Chinese facial recognition firms. 20 holiday gifts under $25. Membership revoked? Veteran GE's spot in exclusive Dow may be shaky. Concorde style supersonic flight across US could be legal by next year. Strong start to Obamacare enrollment under Trump. Pop-up shops still popular with retailers for the holidays.
Dan Loeb Third Point hedge fund bets on global growth. 7 tips for living in one of the world's most expensive cities on a tight budget. A look at the Koenigsegg CCXR Trevita once owned by Floyd Mayweather. Fed Governor Quarles: 'We ought to be taking a fresh look at everything' The GOP tax plan cracks down on fishy 'private museums' of the ultra-rich. 10 best US cities for retirement. Qatar Airways to buy 9.6% stake in Cathay Pacific. Saudi's Falih says more work needed to cut global oil inventory. How many taxpayers could lose out if popular tax breaks disappear. AT&T-Time Warner deal faces possible DOJ antitrust suit.
Amazon buys crypto domains. Facebook earnings q3 2017. Billionaire gives $125 million to U of Chicago economic department. How much does it cost to repair the iPhone X? House reportedly considering phasing in corporate tax-rate reduction. UK: North Korea behind WannaCry cyber-attack that crippled NHS. Kate Hudson turned her passion into a business bringing in millions.
Who is Paul Manafort? A brief timeline of his political career. Small changes that can save you thousands per year. US economy likely slowed by hurricanes in third quarter. UK: North Korea behind WannaCry cyber-attack that crippled NHS. Tropical Storm Philippe strengthens, bears down on Cuba and the Bahamas. Get ready for a 'substantial' slowdown in the US economy, investment bank predicts. Do we really need a drug czar? Puerto Rico's Gov. Rossello orders audit of Whitefish contract to fix power grid. California begins fire cleanup but faces serious hurdles in rebuilding. October US consumer sentiment index. Billionaires expected to pass $2.4 trillion to their kids, charity. Why taking care of the ‘human capital’ of your employees is vital: Arianna Huffington. What I do support in a new tax plan. The newest developments in the Trump-Russia scandal, explained. Morningstar fires back at report over ratings; shares surge.
California begins fire cleanup but faces serious hurdles in rebuilding. UK: North Korea behind WannaCry cyber-attack that crippled NHS. US weekly jobless claims total 233,000, vs 235,000 claims expected. Fiat pulls ahead of auto stocks with an old school strategy. Larry Summers: What I do support in a new tax plan—commentary. House Republicans tell Trump not to pick Yellen as Fed Chair. Union Pacific earnings better than expected despite Harvey disruption. One billionaire created every two days in Asia, study says. UK financial watchdog investigates Equifax hacking. Modest slowdown in Las Vegas seen in October trends.
Flake's fate proves GOP needs to get on Trump train—Commentary. This entrepreneur found sweet success in the luxury candy business. Potlatch to buy rival Deltic Timber for stock, combine lumber capacity. Leon Cooperman says market is fine, conditions for a big decline 'aren't present' Trump to press China on North Korea, trade on Beijing visit. Steve Wynn delivered Trump a letter from the Chinese government. Home battery makers get a boost after Hurricane Maria. Amazon smartphone app now allows ordering from dozens of restaurants. Backroom battle imperils $230 million cryptocurrency venture. Adobe hits new all-time high as Wall Street loves its new A.I., cloud products.