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The January reading was the lowest since May 2017 and reflected a slowdown in new orders and hiring swank cufflinks onyx. The New York Fed survey suggests national manufacturing activity likely moderated further in January after hitting a two-year low in December. “The Empire State survey is an early indication that conditions continued to deteriorate early this year,” said Daniel Silver, an economist at JPMorgan in New York. “We think the government shutdown is probably adversely affecting business sentiment, although the size of its impact is hard to gauge.”..
(Reuters) – CVS Health Corp (CVS.N) said on Tuesday Walmart Inc (WMT.N) is leaving its network for commercial and Medicaid prescription drug plans after the two companies failed to agree on pricing. CVS said the dispute would not impact Walmart’s presence in its Medicare Part D pharmacy network, which according to Cowen & Co analyst Charles Rhyee was a bright spot as it represented a larger chunk of CVS’ scripts swank cufflinks onyx. “At a time when everyone is working hard to find ways to reduce healthcare costs, Walmart’s requested rates would ultimately result in higher costs for our clients and consumers,” Derica Rice, president of CVS Caremark, said in a statement..
However, CVS said Walmart’s Sam’s Club division would remain within its pharmacy networks. Walmart spokeswoman Marilee McInnis said the retailer was continuing discussions with CVS Caremark, the company’s pharmacy benefits unit. “We are committed to providing value to our customers across our business, including our pharmacy, but we do not want to give that value to the middleman,” the retailer said in emailed statement swank cufflinks onyx. Pharmacy benefit managers (PBMs) have been in the crosshairs of the U.S. administration, which in July proposed a rule that would scale back protections that allow rebates between drug manufacturers, insurers and PBMs..
Since then, details of the rule have not been released. Evercore ISI analyst Ross Muken said the separation indicates continuing consolidation across the complex sector and a greater push toward narrow networks. “As the dust settles, we expect further tension among the various players and large integrated players to continue to exert economic pressure on competitors,” Muken wrote in a client note swank cufflinks onyx. Currently, less than 5 percent of affected CVS Caremark members use Walmart exclusively to fill their prescriptions, CVS said..
LONDON (Reuters) – Britain’s plans to leave the European Union could be thrown into disarray by a vote in parliament later on Tuesday but bets are mounting that a chaotic no-deal Brexit can be avoided and that sterling will rise from here. After slumping 7 percent in 2018, the pound has started the year on the front foot. It scaled $1.29 on Tuesday, hours before British lawmakers are due to vote on the withdrawal agreement Prime Minister Theresa May negotiated with the EU. They are expected to reject the deal, barely 2-1/2 months before Britain is due to leave the bloc, opening up a range of outcomes, from quitting with no agreement on future relations to halting Brexit altogether swank cufflinks onyx.