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UnitedHealth plans bargain bid for Diplomat Pharmacy

Dec. 9, 2019 10:35 AM EST

UnitedHealth plans to acquire Diplomat Pharmacy at a steep discount about a month after the specialty drug provider said it may not be able to make its debt payments. United Health Group's OptumRx said Monday that the company will spend $4 for each share of Diplomat in a cash tender offer. That’s 31%...

Elon Musk cleared of defamation in 'pedo guy' tweet trial

Dec. 6, 2019 10:02 PM EST

LOS ANGELES (AP) — Elon Musk defeated defamation allegations Friday from a British cave explorer who claimed he was branded a pedophile when the Tesla CEO called him “pedo guy” in an angry tweet. Vernon Unsworth, who participated in the rescue of 12 boys and their soccer coach trapped for...

Stocks advance as investors eyes jobs report, trade talks

Dec. 6, 2019 8:05 AM EST

BANGKOK (AP) — Global shares rose Friday as investors awaited what's expected to be a healthy U.S. jobs report, while monitoring the China-U.S. trade talks as more tariffs are due to go into effect this month. One sign that talks between the world's two biggest economies could be thawing came Friday when...

United's Kirby to take over for CEO Oscar Munoz

Dec. 5, 2019 5:55 PM EST

Three years after being dumped by a rival, Scott Kirby will become the next CEO of United Airlines, where he has played a key role in leading a turnaround of the once-moribund carrier. United announced Thursday that CEO Oscar Munoz will step down in May and be succeeded by Kirby, currently the airline’s...

Expedia replaces CEO, CFO after fight over reorganization

Dec. 4, 2019 12:04 PM EST

BELLEVUE, Wash. (AP) — Expedia says its CEO and chief financial officer have quit after clashing with the board over strategy, and Chairman Barry Diller will help run the travel company while it searches for permanent replacements. The company said Wednesday that the resignations of CEO Mark Okerstrom and...

Cleveland-Cliffs buying AK Steel in $1.1B stock deal

Dec. 3, 2019 12:12 PM EST

CLEVELAND (AP) — Cleveland-Cliffs will buy AK Steel in a stock deal valued at about $1.1 billion. The companies say the tie-up will create a vertically integrated company that pairs Cleveland-Cliff’s iron ore pellet production with AK Steel’s rolled and stainless steel operations....

US stocks close out half-day session with broad losses

Nov. 29, 2019 3:20 PM EST

Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs. Technology, health care and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as...

E-commerce giant Alibaba’s shares jump 7% in Hong Kong debut

Nov. 26, 2019 4:17 AM EST

HONG KONG (AP) — Chinese e-commerce giant Alibaba’s shares jumped 6.6% in their debut on the Hong Kong stock exchange on Tuesday, an auspicious start at a time when the former British colony is reeling from political unrest. Alibaba closed at 187.60 Hong Kong dollars ($23.96) per share after trading...

"Frozen 2" opening thaws movie theater stocks

Nov. 25, 2019 12:53 PM EST

NEW YORK (AP) — The record-breaking weekend debut of “Frozen 2” has lifted U.S. movie theater stocks out of a year-long freeze.  Shares in AMC Entertainment Holdings jumped more than 4% Monday while other chains also posted significant gains. Movie theater companies have struggled to...

Global shares advance amid hopes for US-China trade deal

Nov. 25, 2019 7:54 AM EST

TOKYO (AP) — Global shares rose Monday amid some optimism that the U.S. and China may be edging closer toward a deal on a trade dispute that has been rattling markets for more than a year. Over the weekend, Beijing issued new guidelines for protecting intellectual property, a key concern for foreign...