Humana’s departure from its Employer Group Commercial Medical Products business will happen over the next 18 to 24 months. Humana Inc. said it would exit its Employer Group Commercial Medical Products business, including all fully insured, self-funded and federal employee health benefit medical plans. The health-insurance company said the move comes after a strategic review that determined the business was no longer positioned to sustainably meet the needs of customers or to support Humana’s long-term strategic plans.

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Alibaba ( BABA ) reported quarterly results early Thursday that beat estimates on the top and bottom lines, as the China e-commerce giant fought through softer demand and supply chain woes. BABA stock jumped in premarket action. The company reported adjusted earnings of $2.79 a share on revenue of $35.92 billion. Analysts expected Alibaba to show earnings of $2.44 a share on revenue of $35.8 billion, according to FactSet. Revenue rose 2% from the year-ago period. Earnings jumped 14%. BABA stock jumped 6.2%, near 100.65, during pre-market action on the stock market today . The results were for Alibaba’s fiscal third quarter ended Dec. 31. "We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to the impact of changes in Covid-19 measures," Chief Executive Daniel Zhang said in a written statement with the Alibaba earnings report . Several of China’s largest internet players, including JD.com ( JD ) and PDD Holdings ( PDD ) — formerly Pinduoduo — tumbled on Feb. 21. That was in reaction to news that JD.com plans to spend $1.5 billion to create a subsidiary to rival PDD Holdings. That raised fears of increased competition ahead. Alibaba, JD and PDD […]

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What’s the latest thinking in fiscal and monetary policy? The Hutchins Roundup keeps you informed of the latest research, charts, and speeches. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday . Spencer Y. Kwon at Harvard, Yueran Ma at the University of Chicago, and Kaspar Zimmermann at the Leibniz Institute for Financial Research SAFE find evidence that a small number of firms account for an increasingly large share of production assets and output over the past century. For instance, the share of production assets held by the top 0.1% of corporations increased about 40 percentage points between 1930 and 2018, from 47% to 88% . The rise in business concentration was stronger in the manufacturing and mining industries in the pre-1970 period and stronger in the services, retail, and wholesale industries in the post-1970 period. Industries with stronger growth in business concentration have more operating costs that are fixed, higher research and development investment, and higher output growth than other industries, suggesting that the rise in business concentration may be due to productive firms investing in and achieving economies of scale. Francesco Ferrante, Sebastian Graves, and Matteo […]

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New York CNN — Federal prosecutors have announced four more criminal charges against Sam Bankman-Fried , the founder of the crypto trading platform FTX, expanding his potential liability in what authorities allege is a billion dollar fraud. Bankman-Fried was charged in December in an eight-count indictment. On Thursday an indictment was unsealed adding new charges for a total of 12-counts, including conspiracy to operate an unlicensed money transmitting business, conspiracy to commit bank fraud, and securities fraud. Bankman-Fried, who was released on a $250 million bond , previously pleaded not guilty to charges announced in December, including one count of conspiracy to violate campaign finance laws. At the time he was charged with multiple counts of conspiracy and wire fraud and conspiring to violate US campaign finance laws by making political donations through straw donors. The FTX founder made more than 300 illegal political contributions through straw donors totaling tens of millions of dollars paid for by Alameda and FTX funds, according to a newly unsealed indictment. Despite SBF personally becoming one of the largest publicly reported political donors for the 2022 midterm elections, he fraudulently made donations ahead of the midterms in the names of two FTC executives […]

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On average, a small business will spend 6.9% of its revenue on IT alone. If your business is still growing, that considerable expense could limit your growth potential, but there are ways to cut costs. For example, a good VPN could help you manage your digital security, but the significant savings opportunities are in hardware. Your employees may need computers, but if you know where to look, refurbished hardware can work just as well as brand new at a fraction of the cost. This Apple MacBook Air would normally cost $999. It’s refurbished with only superficial signs of wear and can be purchased for just $459.99 as part of our Refurbished Event if you order before February 23 at 11:59 p.m. PT. A lightweight, powerful laptop may be a fit for office-based, remote, and traveling workers. The lightweight design makes it easy to transport. It may be slim, but the 1.6GHz Intel Core 95 Processor is backed by 8GB RAM for effortless multitasking and low-lag performance. The 128GB SSD provides plenty of room to store important files locally, but it also has Bluetooth capabilities to transfer files or connect extra hardware wirelessly. If your workers have to use demanding […]

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for . If you have multiple business loans, you may be a good candidate for business debt consolidation. When you consolidate your business debt, you replace your existing loans with a single loan. A business debt consolidation loan can provide lower monthly payments, shorten your repayment term, or both. Those with higher interest rates stand to save the most by consolidating business debt into one loan. But this may not be the best option for every small business owner. Not all consolidations will save on interest, offer better rates or resolve cash flow issues. Plus, not all lenders will be a good fit. Newer businesses and those who don’t have a strong credit history may find an online lender offers better options. But established businesses with a strong history may get the best rates and longest repayment terms from traditional banks. Here’s a closer look at how a small business loan can help you consolidate your business debt. How business debt consolidation works Business debt consolidation is when you […]

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(photo courtesy of Cummins) COLUMBUS, Ind. – Columbus-based Cummins Inc. (NYSE: CMI) has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering for its filtration business, Atmus Filtration Technologies. The manufacturer announced last April it planned to spin off the business into a standalone, publicly-held company. Based in Nashville, Tenn., Atmus intends to have its common stock listed on the New York Stock Exchange under the symbol ATMU. However, the number of shares to be offered and the price range for the offering have not yet been determined, Cummins said Tuesday. Atmus was originally founded in 1958 as the Seymour Filtration Co., based in Seymour, Ind., with a single filter production line to support Cummins diesel engines. The company changed its name to Fleetguard in 1963, then to Cummins Filtration in 2006, though its filtration products retained the Fleetguard brand name. Last November, Cummins announced the standalone company would be known as Atmus Filtration Technologies, deriving the name from “atmosphere,” which “reflects its purpose of creating a better future by protecting what is important.” Atmus manufactures a variety of filtration products designed to lower emissions and provide asset protection for vehicle […]

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Maskot/Getty Images. Getting a business loan can help you expand your business or pay off other high-interest debts that are holding you back. But what if you don’t have an established business score or you have bad credit? Bad credit business loans help business owners with no credit or poor credit get the funding they need. They have relaxed eligibility requirements but tend to come at a higher cost. To get the right loan for your business, you’ll have to shop around to find the most affordable option. If you are a small business owner with bad credit, the following steps can help you choose the best bad credit business loan lender. Check your credit score and eligibility Lenders look at your personal and business credit reports and scores to help assess creditworthiness. They want to see how reliably you repay your debts on time and how much debt you currently owe. The higher your credit scores, the less risky you’ll look to lenders. Before you look for a loan, you’ll want to check your credit score and report. For personal credit, a FICO score of 300 to 579 is considered a bad credit score. Business credit scores can […]

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Isolating "personal" goodwill can be highly advantageous for sellers. Financial conditions are clearly tightening. But, if you have clients thinking about selling their businesses, there’s no reason to rush the transaction. When the future is uncertain, successful entrepreneurs and their advisors are tempted to “get while the getting’s good.” But without taking the time to do the exit planning correctly, your clients could be leaving millions of dollars on the table. When clients sell a company, especially if it’s a professional service firm or a company built from the ground up, they have an important, but misunderstood asset called “goodwill.” That’s the amount a buyer pays them above and beyond the fair market value of the business’ hard assets and liabilities. Some of the goodwill is “enterprise” goodwill and some is “personal” goodwill. In a minute I’ll explain why isolating personal goodwill can be highly advantageous for sellers. Goodwill Hunting: Three Steps Goodwill refers to the value of a business’s intangible assets such as customer or subscriber lists, patient lists and medical records, business, vendor and client relationships, etc. For federal income tax purposes, goodwill must be accounted for in tax filings and may attach to either the business […]

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The gift—which is the University’s first departmental naming and the largest individual gift to the School of Business—will enable the School to launch new programming for the benefit of students and businesses Former Connecticut State Sen. Antonietta “Toni” Boucher ’02 MBA and her husband, Henry “Bud” Boucher (Contributed photo) Former State Sen. Antonietta “Toni” Boucher ’02 MBA and her husband, Henry “Bud” Boucher, had a lot to celebrate in 2020. They had just celebrated their 50th wedding anniversary and Bud, a management consultant and entrepreneur, had reached his greatest career success. The couple had always wanted to do philanthropic work, and now they would have the financial means to do so. Then Bud was diagnosed with leukemia. When he passed away just weeks later, Toni made it her mission to carry out the philanthropy she and Bud had planned. To that end, Toni made an $8 million naming gift to create the Boucher Department of Management & Entrepreneurship in the UConn School of Business. The naming of the department was approved by the UConn Board of Trustees on Wednesday. “I loved my husband deeply. It was heartbreaking that he had lived for this moment and wasn’t here to see […]

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