Jan 16, 2018

Tax reform will add $1.7 billion to UnitedHealth Group's profits

UnitedHealth Group expects a major windfall from tax reform. Francis Dean / Corbis via Getty

UnitedHealth Group CEO Dave Wichmann told investors today the company will reap $1.7 billion in additional earnings this year thanks to the Republican tax overhaul, which slashed the corporate tax rate. The company will use that money for "accelerating" internal investments, Wichmann said, but made no mention of higher wages for employees.

Why it matters: UnitedHealth is the largest health care company on the planet with $10.6 billion in profit and $201 billion of revenue in 2017, according to its latest earnings report. The higher cash flow will add to UnitedHealth's political and financial sway in the health care system.

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Fadel Allassan
9 mins ago - Politics & Policy

Amy Coney Barrett sworn in as Supreme Court justice

Amy Coney Barrett took the constitutional oath to serve as a Supreme Court justice at a White House ceremony Monday night, not long after the Senate voted to confirm her nomination to the high court in a 52-48 vote.

The state of play: Justice Clarence Thomas administered the oath. The Supreme Court wrote in a statement that Barrett will take the judicial oath on Tuesday, at which point she will be able to begin her work on the court.

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Rebecca Falconer, Laurin-Whitney Gottbrath
Updated 43 mins ago - Science

Gulf Coast braces for Zeta after storm strengthens into hurricane

Hurricane Zeta's forecast path. Photo: National Hurricane Center

Louisiana Gov. John Bel Edwards (D) declared a state of emergency Monday as Zeta strengthened into a hurricane and threatened Mexico's Yucatan Peninsula as it moved towards the U.S. Gulf Coast.

The state of play: Zeta was expected to make landfall on the northern part of the Yucatan Peninsula Monday night, bringing with it a "dangerous storm surge" and "heavy rainfall" as it moved into the Gulf of Mexico, the National Hurricane Service said.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.
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