Best Buy plans to cut $1 billion in unspecified costs over the next five years. The electronics retailer cited the impact of U.S. tariffs on Chinese-made goods — such as TVs, smartwatches and computer products — in lowering its sales outlook. In a bid to offset the sluggish sales, the company has announced plans to push into the health-care market with a focus on health-related electronics, a move analysts predict could add between $11 billion and $46 billion to Best Buy's long-term revenue. •
nother day, another CEO gone. EBay chief Devin Wenig’s exit, following a conflict with the board of the online auctioneer, is the third this week. Earlier, it was announced that Juul CEO Kevin Burns would be replaced by an executive from Altria Group, which owns a 35% stake in the e-cigarette maker, amid an exploding health crisis linked to its vaping products. And on Tuesday, WeWork founder Adam Neumann went from CEO to non-executive chairman of the office-space company following a postponement of its initial public offering
The annual cost of family health care coverage is at a record high of around $20,000, according to a report by the Kaiser Family Foundation. While employers often cover much of that cost, workers' contribution is around $6,000 per year, which doesn't include deductibles and premiums. Compare that with a decade ago, which saw annual costs top $13,000 and worker contributions of $3,500 per year for family coverage. Health care costs have risen far more quickly than wages in recent years, while deductibles have soared
The U.S. and Japan have signed the first stage of a trade deal affecting $40 billion in digital trade, as well as tariffs on Japanese machine tools and American cheese and beef. The move is expected to help U.S. farmers compete better in Japan, with President Trump saying the deal will open markets for about $7 billion in American agricultural products. Japanese Prime Minister Shinzo Abe also said he got reassurance that the United States would not impose national security tariffs on Japanese car imports, as previously threatened. • Here’s what people are saying.
nother day, another CEO gone. EBay chief Devin Wenig’s exit, following a conflict with the board of the online auctioneer, is the third this week. Earlier, it was announced that Juul CEO Kevin Burns would be replaced by an executive from Altria Group, which owns a 35% stake in the e-cigarette maker, amid an exploding health crisis linked to its vaping products. And on Tuesday, WeWork founder Adam Neumann went from CEO to non-executive chairman of the office-space company following a postponement of its initial public offering
The annual cost of family health care coverage is at a record high of around $20,000, according to a report by the Kaiser Family Foundation. While employers often cover much of that cost, workers' contribution is around $6,000 per year, which doesn't include deductibles and premiums. Compare that with a decade ago, which saw annual costs top $13,000 and worker contributions of $3,500 per year for family coverage. Health care costs have risen far more quickly than wages in recent years, while deductibles have soared
The U.S. and Japan have signed the first stage of a trade deal affecting $40 billion in digital trade, as well as tariffs on Japanese machine tools and American cheese and beef. The move is expected to help U.S. farmers compete better in Japan, with President Trump saying the deal will open markets for about $7 billion in American agricultural products. Japanese Prime Minister Shinzo Abe also said he got reassurance that the United States would not impose national security tariffs on Japanese car imports, as previously threatened. • Here’s what people are saying.
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