Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
In a four-page letter sent Thursday morning, Warren and Ocasio-Cortez asked Mnuchin a series of questions about his advisory role in former Sears CEO Eddie Lampert's...Politicsread more
Amazon is reportedly getting into the wearables space. It would help the company learn more about customers, and potentially corner the market on a demographic of older,...Technologyread more
The Trump administration announced a $16 billion aid program for American farmers that includes a three-pronged package of aid for American farmers who have been hurt by the...Politicsread more
"This time, another temper tantrum, again. I pray for the president of the United States," Pelosi said. "I wish that his family or his administration or his staff would have...Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
Prosecutors allege Stephen Calk, former president of Chicago-based Federal Savings Bank, loaned former Trump campaign chair Paul Manafort as much as $16 million in exchange...Politicsread more
CVS announced in December plans to buy Aetna for about $69 billion in cash and stock. The deal would combine CVS' drugstores and pharmacy benefits manager platform with Aetna's insurance business, blurring traditionally distinct lines in hopes of lowering costs.
The deal comes as both the retail and health-care industries are coming under pressure. Drugstores like CVS are finding a fierce competitor in e-commerce, particularly Amazon, which CNBC has reported to be interested in selling prescription drugs. It already sells over-the-counter drugs, including an exclusive line of Perrigo products.
Health-care companies, including insurers, are searching for ways to lower costs. Health spending equals 18 percent of the nation's gross domestic product, and that number is expected to reach 20 percent by 2025.
Amazon CEO Jeff Bezos, J.P. Morgan CEO Jamie Dimon and Berkshire Hathaway CEO Warren Buffett have even joined the health-care space. They're partnering to try to tackle the "hungry tapeworm on the American economy," as Buffett dubbed health-care costs in January.
Since the CVS-Aetna acquisition was announced, grocer Albertsons said it would acquire drugstore chain Rite Aid. Pharmacy retailer Walgreens Boots Alliance was reportedly considering buying the rest of the wholesale drug distributor AmerisourceBergen it doesn't already own, but talks have cooled.
CVS and Aetna have touted their combination as a way to use CVS' retail stores to help rein in health-care costs. They're hoping to get more people into their walk-in clinics at drugstores and keep them out of more expensive sites like emergency rooms.
Within the next year or so, CVS and Aetna expect MinuteClinics to perform about 90 percent of services provided in primary care facilities, up from about 40 to 45 percent now, CVS Executive Vice President Thomas Moriarty told a congressional panel last month.
If shareholders approve the deal, it will bring CVS and Aetna closer to finalizing the transaction, though the Justice Department will still need to sign off on it. The agency requested more information from the two companies last month, but Merlo said the companies built that into the timeline and still expect the deal to close in the second half of the year.