Amazon’s push into telehealth knocks shares of Hims & Hers

(Reuters) – Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com launched a rival service that offers upfront pricing for telehealth visits. Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle concerns. Similarly, Hims & Hers connects patients to licensed healthcare professionals through its online platform and offers treatments for a … Read more…

Trump expected to select RFK Jr. to lead HHS, Politico reports

WASHINGTON (Reuters) – U.S. President-elect Donald Trump is expected to select Robert F. Kennedy Jr. to lead the Department of Health and Human Services, Politico reported on Thursday, citing a person with direct knowledge of the matter. Kennedy ran for president in this year’s election as an independent before dropping out in August and endorsing Trump in exchange for a role in the Republican’s administration. “He’s going to help make America healthy again,” Trump said … Read more…

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Exclusive-Saudi Arabia prioritizes sports for NEOM plans as costs balloon, sources say

By Pesha Magid, Hadeel Al Sayegh and Federico Maccioni RIYADH/DUBAI (Reuters) – Saudi Arabia has scaled back lofty ambitions for its NEOM gigaproject to prioritize completing elements essential to hosting global sporting events over the next decade as rising costs weigh, three sources told Reuters a day after the sudden departure of the project’s longtime CEO. Crown Prince Mohammed bin Salman, known as MbS, has poured hundreds of billions of dollars into development projects through … Read more…

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Amazon launches low-cost ecommerce service in US to challenge Temu

(Reuters) – Amazon.com launched a low-cost ecommerce service called Amazon Haul for some customers in the United States giving them a selection of products at $20 or less, the online retailer said on Wednesday, as it looks to take on Chinese firms Shein and PDD Holdings’ Temu. In August, Amazon CEO Andy Jassy said average selling prices were falling as customers were trading down to cheaper items and buying more essential goods. The company said … Read more…

Small-cap stocks face delicate balance between Trump boost and inflation risks

By Lisa Pauline Mattackal (Reuters) – U.S. small-cap stocks have surged to near record highs following Donald Trump’s presidential election win, but some investors are wary of chasing the rally as they fear his policies could drive a resurgence in inflation, hurting the rate-sensitive sector. The Russell 2000 index has jumped around 6% since the election on Nov. 5, outperforming gains in major indexes on expectations that Trump’s proposals to cut taxes, decrease regulations and … Read more…

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Crypto legislation likely coming under Trump, ex-SEC chief says

By Douglas Gillison and Chris Prentice NEW YORK (Reuters) – Congress is likely to adopt legislation governing cryptocurrencies during President-elect Donald Trump’s administration, Jay Clayton, a former top Wall Street regulator and potential political appointee, said on Wednesday. Clayton also said he favored easing regulatory burdens to encourage companies to go public, remarks foreshadowing broad-based changes in public policy now anticipated by industry, which spent heavily to influence this month’s elections. “I think we will … Read more…

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Big bank deals could be spurred by Trump administration, executives say

By Tatiana Bautzer NEW YORK (Reuters) – President-elect Donald Trump’s return to the White House could usher in a wave of bank mergers and acquisitions as the administration appoints regulators who are more open to approving larger deals, financial executives and analysts said on Tuesday. The banking industry is expected to win big if Republican regulators ease capital rules and merger approvals when they replace the aggressive financial regulators of the Biden era. “I have … Read more…

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Alphabet’s Waymo opens autonomous ride-hailing service to all in Los Angeles

(Reuters) – Alphabet’s Waymo said on Tuesday its autonomous ride-hailing service, Waymo One, is now available to everyone in Los Angeles, a sign of rapid growth and adoption of the technology. Waymo had closed a $5.6 billion funding round last month, as automakers and technology companies are betting big on the driverless technology to foster future growth, even as it faces tight regulatory scrutiny. The company said nearly 300,000 people had joined its waitlist after … Read more…

ValueAct takes $1-billion stake in Meta, source says

By Svea Herbst-Bayliss (Reuters) -ValueAct Capital has built a $1-billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday. The stake, which ValueAct has been building in recent weeks, now ranks among the firm’s two largest alongside its bet on cloud-based software company Salesforce. The investment firm and technology company have held discussions but it was … Read more…

Elliott calls for Honeywell break up, takes $5 billion-plus stake

By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years. Elliott said in a letter that it had built a stake worth more than $5 billion in Honeywell, one of its largest ever, and that management should split the company into two standalone businesses focused on aerospace and automation. Shares were … Read more…