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Articles by Susan Kelly
Caris Life Sciences files for $424M IPO
12 hours ago Wall Street is getting more and more worried about the potential loss of America's superpower status. Now its CEOs are cycling from denial and bargaining to public anger and depression. Since President Trump started unveiling his chaotic tariffs this spring, sparking waves of panic among global …
Express Scripts tumbles after Anthem targets $3 billion in drug savings
Updated at 3:40 p.m. with closing share price Shares of Express Scripts Holding Co. tumbled nearly 7 percent this morning after Anthem Inc. said late Tuesday that the insurer could save $3 billion annually on drug costs from a re-pricing provision in its current contract with pharmacy benefit manager Express Scripts. Anthem said it is working to renegotiate the contract this year to avoid overpaying for drugs based on current market conditions.
Aetna CEO says he is not giving up on public insurance exchanges
The chief executive of Aetna Inc. on Tuesday said the health insurer is not about to withdraw from the public health exchange market, even after losing money on the business last year. "We believe it is incredibly important, in the business we're in, that we insure all Americans," Chief Executive Mark Bertolini said. "We believe we have an obligation to stick it out and work with it until we know that it won't work.
Parent of Sigma Financial rebrands as Axtella
SPS Family, the parent company of broker-dealers Sigma Financial Corp. and Parkland Securities, as well as RIA Sigma Planning Corp., announced this week that it’s rebranding as Axtella. The company said the new name was inspired by the words stellar, nexus, and constellation, and that those words relate to its core values.
BlackRock backs fewer proposals on climate, social issues
BlackRock Inc. backed fewer shareholder proposals on environmental and social issues over the past year as it stressed its commitment to the energy industry and navigated a debate over ESG investing. The asset manager supported 26 of 399 — or almost 7% — of proposals related to climate change and social issues in the 12 months ended June 30, down from 22% in the same period a year earlier, BlackRock said in a report Wednesday.
Morgan Stanley hits 70% of $1T ESG funding goal
Morgan Stanley said it’s more than two-thirds of the way toward achieving its target to finance $1 trillion of low-carbon and sustainability investments by the end of the decade. The Wall Street firm said in an ESG report this week that it has allocated $700 billion of financing, with more than $550 billion of that directed to green activities. The bank said numerous groups contributed to the program, including its securitized products, commodities and wealth management divisions.
Aetna CEO says he is not giving up on public insurance exchanges
The chief executive of Aetna Inc. on Tuesday said the health insurer is not about to withdraw from the public health exchange market, even after losing money on the business last year. "We believe it is incredibly important, in the business we're in, that we insure all Americans," Chief Executive Mark Bertolini said. "We believe we have an obligation to stick it out and work with it until we know that it won't work.
Express Scripts tumbles after Anthem targets $3 billion in drug savings
Updated at 3:40 p.m. with closing share price Shares of Express Scripts Holding Co. tumbled nearly 7 percent this morning after Anthem Inc. said late Tuesday that the insurer could save $3 billion annually on drug costs from a re-pricing provision in its current contract with pharmacy benefit manager Express Scripts. Anthem said it is working to renegotiate the contract this year to avoid overpaying for drugs based on current market conditions.
UBS CEO Ermotti predicts 'bumpy' months as Credit Suisse deal closes
UBS Group Chief Executive Sergio Ermotti said the firm is gearing up for a tricky few months as it works on the complex integration of Credit Suisse Group. “We can make something good out of a not ideal situation,” Ermotti said at a conference in the Swiss town of Interlaken Friday.
Fed signals possible pause after latest quarter-point hike
The Federal Reserve raised interest rates by a quarter percentage point and hinted it may be the final move in the most aggressive tightening campaign since the 1980s as economic risks mount. “The committee will closely monitor incoming information and assess the implications for monetary policy,” the Federal Open Market Committee said in a statement Wednesday.
Hospitals felt omicron's full force in late 2021, Kaufman Hall says
Dive Brief: The omicron variant walloped hospitals in the final month of 2021, driving up both adjusted patient volumes and expenses as the number of COVID-19 cases surged to new highs for the pandemic, according to Kaufman Hall's latest flash report. Patient days rose nearly 4% in December compared to November, while emergency department visits jumped more than 7% as patients came in with COVID-19 symptoms.
Payers, researchers warn CMS proposal could cut funds to insurers enrolling high-risk consumers
Proposed changes to a CMS program that shifts funds to insurers that attract higher-risk consumers, intended to boost plan enrollment by lowering some premiums, could have the opposite effect and should be abandoned, researchers from the Brookings Institution and the University of Southern California argue in a new analysis.
OIG audit targets hospital compliance with surprise billing rule
Dive Brief: HHS' Office of Inspector General said it will conduct a nationwide audit of hospitals that received federal COVID-19 relief payments. The aim is to determine whether hospitals that received the funding complied with a requirement preventing surprise billing of COVID-19 inpatients.
Hospitals turned to M&A to shore up core operations last year
Dive Brief: Hospitals in 2021 inked M&A deals aimed at stabilizing their pandemic-shaken core operations, according to a new analysis Monday from Kaufman Hall. It was a year marked by a significant drop in transactions across the sector overall, but a higher percentage of larger-sized deals. Just 49 health system mergers were announced in 2021, down from 79 in 2020 and the lowest number in a decade, according to the report.
ESG ETF launches with holdings guided by Islamic law
While the fund will loosely track an index, it's classified as an active EFT. Investors in the sizzling thematic investing space are getting a new Islamic faith-based ESG ETF. The Wahed Dow Jones Islamic World ETF (UMMA) starts trading Friday and tracks an index of companies globally that meet certain Shariah law requirements or that are consistent with Islamic principles.
Goldman says carbon net zero shift likely to boost inflation
Skip to content The firm's analysts see the biggest inflation impact in the U.S. and China. The global push to achieve net-zero carbon emissions will likely result in a meaningful boost to inflation, according to analysts at Goldman Sachs Group Inc. Based on the assumption that carbon taxes would rise to $100 a ton by 2030, the analysts led by Jan Hatzius calculated the likely rise in prices in four major economies — the U.S., China, Germany and Canada.
Calls to regulate carbon offsets market
When Swedish bank SEB AB announced recently that it wanted to buy into the market for carbon credits, what it got was a pile of duds. Hans Beyer, SEB’s chief sustainability officer, says most of the roughly 150 pitches that he received last year weren’t backed by any recognized body validating claims to be permanently removing carbon dioxide from the atmosphere. And some were pitched on the basis of doing nothing at all — merely pledges to avoid emitting CO2 in the future.
ESG debt issuance could get fresh boost from junk sales
Investors racing to buy debt tied to environmental, social and governance goals are expected to propel issuance to fresh highs next year, boosted by leveraged finance. Sales of green, social, sustainability and sustainability-linked bonds by corporations and governments worldwide surpassed $1 trillion for the first time this year. Underwriters of the bonds and loans, who’ve been on a hiring spree to keep up with demand, are braced for another surge.
91% asset plunge hits fund of sustainable EM stocks
The BlackRock fund saw its total assets fall to $69 million from $803 million. What was once the second-biggest exchange-traded fund investing in sustainable emerging market companies just became a shadow of its former self. In the two days leading up to Christmas Eve, the iShares ESG MSCI EM Leaders ETF (LDEM) lost 91% of its investments, leaving its total assets depleted at about $69 million, compared with $803 million on Dec. 21.
Morningstar ESG chief asks: What do those trillions do?
Hortense Bioy cites the lack of clarity around investing strategies marketed as ways to protect the planet. Fund managers are about to close their books on another bumper year of ESG flows. What that means for the environment, social justice and good governance is unclear. Hortense Bioy, global head of sustainability research at Morningstar Inc., says she’s struck by the persistent lack of clarity around investing strategies marketed as ways to protect the planet.
Why green stocks are slumping amid ESG boom
The outlook for green stocks is challenging because of worries about rising interest rates tied to inflation, unpredictable politics and regulatory maneuvers. Despite a drop in clean-energy stocks and intensifying concerns about widespread greenwashing, the market for investment products sold as being ESG-related had another record year by most yardsticks.
Hospitals clamp down on elective surgeries as COVID-19 surges
Hospitals across the U.S. are again suspending non-urgent surgeries in response to a steep rise in COVID-19 cases in order to make room for patients in need of care most immediately. On Friday, the Cleveland Clinic extended a halt on nonessential procedures, the latest among a growing number of systems to take such measures as hospital beds fill quickly. Intermountain Healthcare warned in a press briefing that its ICUs are near full capacity.
Insurers returned $2B to consumers for 2020 under ACA
Dive Brief: Health insurers paid back about $2 billion in excess premium charges to enrollees for 2020, CMS announced, in an indication of the industry's profitability during the COVID-19 pandemic. The rebates for a portion of premium payments are required under the Affordable Care Act if an insurer's spending on patient claims and quality-of-care improvements falls below specified thresholds.
Hospitals clamp down on elective surgeries as COVID-19 surges
Hospitals across the U.S. are again suspending non-urgent surgeries in response to a steep rise in COVID-19 cases in order to make room for patients in need of care most immediately. On Friday, the Cleveland Clinic extended a halt on nonessential procedures, the latest among a growing number of systems to take such measures as hospital beds fill quickly. Intermountain Healthcare warned in a press briefing that its ICUs are near full capacity.
Wall Street close to triggering climate financial crisis
A new report urges the Biden administration to slash the financial sector's role in global warming If the financial services industry was a country, it would rank as the world’s fifth-largest emitter of greenhouse gases.
Wall Street banks face pressure to cut fossil-fuel financing
A group of shareholders filed resolutions with six banks asking that they insure their loans aren't adding to new fossil-fuel supplies Wall Street banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. are facing calls from shareholders to take faster action to address their role in financing climate change.
SEC should look at oil CEOs with pay tied to ESG metrics: Warren
The senator said companies seem to be using ‘easily manipulated metrics’ to get executives higher payouts Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Sen. Elizabeth Warren said, adding to her calls to rein in CEO compensation. Marathon Petroleum Corp., Chevron Corp. and Occidental Petroleum Corp.
Hospital price disclosure push coming up short, JAMA study finds
Dive Brief: A new CMS rule requiring U.S. hospitals to disclose negotiated prices for some services is providing only a partial picture of the cost of care, limiting its value to patients trying to comparison shop, a study published Monday in JAMA Network Open concludes.
U.S. companies aiming for 100% renewables still use fossil fuel
A cashier scans Jennie-O turkeys at a Walmart Inc. store in Burbank, California, U.S., on Tuesday, Nov. 26, 2019. A PWC survey shows that 36% of consumers surveyed plan to shop on Black Friday. Deals will ultimately dictate where spending and visits go. Photographer: Patrick T.
Cathie Wood's ARK launches ESG ETF
The new fund, the ARK Transparency ETF, arrives as Wood's favored tech stocks finally catch a break Cathie Wood’s second new exchange-traded fund of the year launched on Wednesday, just as her favored tech stocks finally catch a break. The ARK Transparency ETF (CTRU) began trading a day after every one of its siblings jumped thanks to the global risk rebound. Tuesday’s surge in American growth shares saw Wood’s flagship product, the ARK Innovation ETF (ARKK), post its biggest advance since March.
Brookfield sees ‘massive’ opportunities in energy shift
The transition from old to new energy forms means investors have a chance to bet on which technologies will prevail Investors face an historic opportunity to put their money into renewable energy assets given the global consensus that now exists around the urgent need for decarbonization, according to Brookfield Asset Management Inc.
Physician income dips when hospitals buy practices: Health Affairs
Dive Brief: The acquisition of independent physician practices by hospitals, a trend that has accelerated rapidly in recent years, is linked to a modest drop in doctor compensation, a report published in the December issue of Health Affairs found. The 0.8% reduction in average income suggests physicians may not see direct financial benefits from hospitals buying practices, according to the researchers.
Elizabeth Warren grills Bitcoin miner on climate
The Massachusetts senator wants Greenidge Generation to explain how its Bitcoin mining operations will affect climate change and the local environment Sen. Elizabeth Warren is pressing a Bitcoin miner about the impact of its operations on climate change, the local environment and power prices as part of her campaign to crack down on wasteful cryptocurrency mining. Warren sent the letter to Greenidge Generation Holdings Chief Executive Jeff Kirt Thursday afternoon.
ESG market controlled by a few big investors
Hundred dollars in the green grass While roughly $120 billion has flowed into ESG ETFs this year, just a handful of institutional investors control a large part of the market The market for ESG-focused exchange-traded funds has been among the world’s hottest investment areas for more than two years now. About $120 billion has flowed into these funds in 2021 as investors increase their bets on companies deemed to have the highest environmental, social and governance credentials.
Hospitals brace for omicron as margins weaken further, Kaufman Hall reports
Dive Brief: Hospitals saw operating margins continue to erode in October, declining 12% from September under the weight of rising labor costs, according to a national median of more than 900 health systems calculated by Kaufman Hall. It was the second consecutive monthly drop and comes as facilities are preparing for the fast-spreading omicron variant of the coronavirus.
Blackstone, Apollo among firms snubbing new climate coalition
A number of big private equity firms have yet to sign up for a pledge unveiled during COP26 to eliminate CO2 emissions and help avoid catastrophic planetary overheating As the dust settles on the finance industry’s most ambitious climate coalition yet, some of the biggest names on Wall Street have remained conspicuously absent. Among the key holdouts is the world’s No. 1 private equity firm, Blackstone Inc., which leads a parade of buyout behemoths, including Apollo Global Management Inc.
Private equity propels top ESG hires into 7-digit pay league
Salaries for those in top ESG jobs are ‘easily up 50%, maybe 100%’ from a year ago, a headhunter says. Private equity firms, along with hedge funds, are significantly ramping up the amount they’re willing to pay specialists in sustainable finance, as a field once at the lower end of the pay scale moves closer to the top.
China property turmoil risks upending green debt market
Two prominent developers that have borrowed billions in green debt are struggling to meet their debt obligations. The debt crisis engulfing the real estate sector in China is threatening to upend developers that have borrowed billions in green debt to fund sustainable buildings. Two prominent firms that are struggling to meet their debt obligations, Kaisa Group Holdings Ltd.
Habitat for Humanity's energy-efficient homes create sustainable communities
Author of the article: Susan Kelly Publishing date: Nov 26, 2021 • 9 hours ago • 2 minute read Lizet Molina Neri and her son, Alan (9), in front of the Habitat home that she helped build. Photo by Jason Asteros Article content “Think global, act local”—just the effect the Brant-Norfolk Chapter of Habitat for Humanity Heartland Ontario is after as it launches its 2021 Giving Tuesday campaign.
Humana, Allina Health expand value-based care partnership in Minnesota
Dive Brief: Humana said it is expanding an existing agreement with hospital operator Allina Health to provide value-based care to its Medicare Advantage members in the Minnesota market. Under the multi-year pact, reimbursement to physicians will be linked to patient health outcomes rather than based on a traditional fee-for-service model alone.
Labor, supply chain pressures mount for US hospitals, Fitch says
Dive Brief: Pressure on U.S. hospital margins is intensifying as a scarcity of workers drives up labor costs and supply chain problems ripple across the healthcare sector, according to a report out Friday from Fitch Ratings. Healthcare and pharmaceutical companies have survived the coronavirus pandemic thus far with their credit profiles largely intact.
First look: The infrastructure bill and ESG
Craig Jonas, CEO and founder of CoPeace, joins to discuss the infrastructure bill that is making its way through Congress, what might change before it becomes law, what it does for sustainability and what opportunities it creates for investors. In this episode, you’ll hear about: Free Little Libraries — take a book, leave a book initiative to improve kids reading. Read in Color — a program to promote diversity in children’s books. The importance of local projects. Craig Jonas’ background.
Carbon offsets have an integrity problem; COP26 may help fix that
The agreement reached at the U.N. climate meeting may help boost confidence in the voluntary market for carbon credits. The global agreement reached at the United Nations’ COP26 summit in Glasgow last weekend may help solve one of the trickiest problems in climate policy: how to boost confidence in the voluntary market for carbon credits. Such credits, or offsets, allow companies to pollute at home in exchange for investing in greener projects elsewhere.
Baylor Scott & White sees income dip in Q1 as costs climb
Dive Brief: After income from operations more than doubled in the fiscal year ended in June, Dallas-based Baylor Scott & White reported a 7% decline in income to $359 millionin the first quarter of fiscal 2022 as the health system's labor and supply costs increased. The pullback in the quarter ended Sept. 30 comes after income reached $1.26 billion in fiscal year 2021, up from $559 million the year before, according to financial documents released Friday.
1 in 3 patients defer healthcare due to existing medical debt, TransUnion finds
Dive Brief: Thirty-five percent of patients with outstanding medical bills said that debt deterred them from seeking healthcare services over the past year, according to a new survey of consumers' billing experiences by TransUnion Healthcare. The credit bureau's healthcare data analytics unit also reported seeing a 55% rise in financial assistance transactions from September 2020 to September 2021.
Daily Legal News
Bankruptcy 2021-40898 Case Number 2021-40898 Date Filed Friday, August 13, 2021 Chapter & Region 7 & 474 Debtor Susan M. Kelly 2319 S. Glenwood Ave. Niles, OH 44446 About your information and the public record.
Private health coverage for working-age adults fell amid pandemic, Census data shows
Dive Brief: Private health insurance coverage declined 0.8 percentage points to 71.8% for adults ages 19 to 64 from early 2019 to early 2021, a period reflecting the onset of the COVID-19 pandemic, the U.S. Census Bureau said Tuesday. The drop among working-age people was driven by a 0.6-percentage-point slip in employer-sponsored coverage, to 61.6%.
CVS Health's Aetna unveils nationwide primary care telehealth service
Dive Brief: CVS Health said its Aetna unit will offer virtual primary care to self-funded employers nationwide in a move that underscores the growing popularity of telehealth services fueled by the COVID-19 public health emergency. Using Teladoc Health's physician-led care team model, the Aetna Virtual Primary Care service is intended to help strengthen the patient-doctor relationship and improve access to care, the vertically integrated company announced Tuesday.
NNU tees up fight amid HCA, Sutter, CommonSpirit contract talks: 'Put patients before profits'
The biggest nurses union in the country is teeing up a fight with hospitals run by HCA Healthcare, Sutter Health and CommonSpirit Health as it heads into negotiations for some 65,000 nurses this year. The COVID-19 pandemic exposed problems faced by nurses ranging from inadequate personal protective equipment to unsafe staffing levels, members of National Nurses United said at a press conference held virtually Friday.
SEC’s Gensler removes head of U.S. accounting regulator
Securities and Exchange Commission Chairman Gary Gensler has fired the U.S.’s top accounting regulator, a move that is certain to please investor advocates and progressives who had demanded an overhaul of the watchdog. The SEC announced the removal of Public Company Accounting Oversight Board Chairman William Duhnke in a Friday statement. He was replaced on an acting basis with PCAOB board member Duane DesParte.
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