Kaiser Permanente CEO's death postpones strike by 4,000 medical professionals - Fox Business

United States Veterans Affairs Secretary Robert Wilkie discusses how it's important to honor veterans every day, not just on Veterans Day, and one way we can do that is by supporting them.

More than 4,000 psychologists and other medical professionals postponed their strike against health care provider Kaiser Permanente indefinitely following the death of CEO Bernard Tyson on Sunday.

Continue Reading Below

The National Union of Healthcare Workers was set to strike from Monday to Friday to demand Kaiser Permanente improve retirement and health benefits as well as look at clinicians' proposals to improve mental health care access.

"We offer our condolences to Bernard's family, friends and colleagues," NUHW President Sal Rosselli said in a statement. "Our members dedicate their lives to helping people through tragedy and trauma, and they understood that a strike would not be appropriate during this period of mourning and reflection."

One hundred seventy union leaders voted Sunday afternoon to postpone the strike, which would have shuttered mental health services at roughly 100 Kaiser Permanente clinics and medical facilities across California.

Bernard Tyson was CEO of Kaiser Permanente from 2013 to 2019. Photo courtesy of Kaiser Permanente

KAISER PERMANENTE CEO BERNARD TYSON DEAD AT 60

Tyson died in his sleep early Sunday morning. He was 60.

"I've known Bernard since he was a manager at Kaiser Oakland Medical Center in the early 1980s," Rosselli said. "While we had our differences, I had tremendous respect for him and his willingness to collaborate with workers to make Kaiser the model provider of medical services in California. We weren't able to achieve that same level of collaboration when it comes to Kaiser's mental health services, but I believed that he did want Kaiser to achieve real parity for mental health care, and I know our members remain fully committed to realizing that goal."

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Kaiser Permanente maintains that a strike will not help the two sides "achieve a mutually beneficial contract." NUHW therapists receive an excellent wage and benefit package as well as plenty of time to do paperwork and make calls, Kaiser Permanente vice president of communications John Nelson told The Sacramento Bee.

Kaiser Permanente has "taken important steps to help address the nation’s crisis in mental health care – hiring hundreds of new therapists, building new treatment facilities, and investing $40 million to help people enter the mental health care profession. A strike does nothing to advance our important work to advance care, nor does it help us achieve a mutually beneficial contract," Nelson said.

FOX Business' inquiry to Kaiser Permanente was not returned immediately.

CLICK HERE TO READ MORE ON FOX BUSINESS

Let's block ads! (Why?)

https://www.foxbusiness.com/money/bernard-tyson-kaiser-permanente-strike

2019-11-11 11:34:21Z
52780432343539

Hong Kong's Hang Seng has its worst day in months as violence escalates - CNN

The Hang Seng Index (HSI) dropped more than 2.6%, its worst single-day percentage decline since the beginning of August, according to Refinitiv data.

Monday's declines came on the heels of new and shocking levels of violence in the Asian financial hub. A traffic officer shot a 21-year-old protester and fired two more live rounds early in the day. The protester had surgery and is in critical condition, hospital authorities say.

Later, in another part of the city, a man who confronted a group of protesters was doused in a flammable liquid and set alight. The incident was captured in a graphic video seen by CNN.

Protests disrupted public transit throughout the city on Monday, as demonstrators blocked roadways and several subway lines experienced delays. Several months of protests have plunged Hong Kong into its first recession in a decade.

Monday's fall wiped out the Hang Seng's gains posted last week, when optimism over the prospects of a US-China trade deal lifted Asian markets.

The city's real estate stocks were hit particularly hard, with big property developers like Swire Pacific (SWRAY), Wharf Real Estate, Sun Hung Kai Properties (SUHJF) and New World Development (NDVLY) all dropping more than 4%.

While Hong Kong led losses in the region, other major Asian markets were all down Monday as investors also tried to make sense of the muddled state of US-China trade relations.

China's Shanghai Composite (SHCOMP) declined 1.8%. South Korea's Kospi (KOSPI) slumped 0.6%. Japan's Nikkei (N225) edged down 0.3%.

Monday was the first opportunity that markets in Asia had to respond to comments from US President Donald Trump, who said Friday in the United States that he has yet to agree to rolling back tariffs. That undercut a statement from China's Commerce Ministry that indicated a willingness to make such a concession as part of the first phase of a trade deal between the two countries.

"They'd like to have a rollback," Trump said. "I haven't agreed to anything. China would like to get somewhat of a rollback, not a complete rollback because they know I won't do it."

A day earlier, a spokesman for China's Ministry of Commerce told reporters that US and Chinese negotiators had discussed rolling back tariffs, saying the rollbacks could happen even before a "phase one" trade deal is signed.

Despite Trump's remarks, Wall Street ended last week at record highs.

Let's block ads! (Why?)

https://www.cnn.com/2019/11/10/investing/asian-market-latest/index.html

2019-11-11 10:14:00Z
52780431397468

UK economy avoids recession with third-quarter growth rebound - CNBC

An employee works on an engine production line at a Ford factory on January 13, 2015

Carl Court | Getty Images News | Getty Images

The British economy has avoided slipping into a technical recession, after official data Monday, showed the third-quarter gross domestic product (GDP) at 0.3%.

The data marks a rebound from the second-quarter gross domestic product (GDP) which contracted by 0.2%.

On a year-on-year basis, third-quarter growth slowed to 1%. This marked the slowest rate of expansion since the first three months of 2010.

On a month-to-month measure, September GDP alone marked a 0.1% contraction. Manufacturing data for September revealed a 0.4% contraction from August and a 1.8% fall from September 2019.

Both figures were a touch worse than a consensus of forecasts collated by Reuters.

Services output for September came in flat at 0.0% month-on-month and up 1.3% year-on-year. Industrial output and construction activity for the month also contracted from August figures.

There was very little initial reaction in the pound-versus-dollar trade. Just prior to the decision, sterling was trading at $1.2804 and this dipped to $1.2797 after the data drop.

Speaking to CNBC's Street Signs on Monday, Ross Walker, Head of UK & European Economics at Natwest Markets, said the figures were "slightly disappointing."

Walker said there had been some modest growth in retails sales and he had hoped this might prop growth up a little more.

"Underlying growth in the U.K. is clearly below trend," he said before adding that when accounting for Brexit-related swings in production, the data looked "a little bit tepid." 

The Bank of England said last week that trend growth in the U.K. was currently about half of that in 2018.

Let's block ads! (Why?)

https://www.cnbc.com/2019/11/11/uk-economy-avoids-recession-with-third-quarter-growth-rebound.html

2019-11-11 09:31:00Z
52780432851375

Alibaba breaks Singles Day record of more than $30 billion in sales and climbing - CNBC

A screen shows the gross merchandise volume, a measure of sales, after 12 minutes 49 seconds of Singles Day sales, as it reaches about 7,147,554,107 USD in Hangzhou in China's eastern Zhejiang province early on November 11, 2019.

AFP | Getty Images

Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world's largest 24-hour shopping event.

Gross merchandise value (GMV), a figure that shows sales across Alibaba's various shopping platforms, surpassed last year's 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time, and kept rising through the rest of the day.

It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11. During the 24-hour period, which began at midnight in Singapore and Hong Kong, Alibaba offered huge discounts across its e-commerce sites such as Tmall.

Alibaba's Singles Day sales last year exceeded the spending by consumers during any single U.S. shopping holiday such as Black Friday or Cyber Monday.

To help boost sales, Alibaba expanded the number of discounted items available in this year's event and put a heavy emphasis on livestreaming via its platforms to help sell goods. Live streaming has become a big part of the shopping experience on Chinese e-commerce sites.

Online personalities often speak to their followers and talk about products as well. On Wednesday, Kim Kardashian did a livestream announcing her fragrance brand KKW will be available for sale on Tmall.

Alibaba's new Singles Day record comes as it faces a slowing Chinese economy and stiff competition from domestic rivals. While Alibaba is the name often associated with the mega shopping event, competitors JD.com and Pinduoduo all offer their own sales. JD.com was already offering some Double 11 discounts before the actual day. Even Southeast Asia's e-commerce platforms have jumped on the bandwagon.

The day got off to a strong start for Alibaba. GMV hit $12.01 billion in the first hour. Within an hour and a half, Alibaba's sales exceeded the total reached on Singles Day in 2016.

Some of the top-selling products early in the day included the 5G version of Huawei's Mate 30 Pro smartphone, as well as Apple's iPhone 11 Pro and Pro Max.

Amid the ongoing U.S.-China trade war, there was some concern that American brands could get the cold shoulder from Chinese consumers. But this was not the case.

The U.S. was the second country by GMV in terms of countries selling to China.

Jacob Cooke, CEO of WPIC, an e-commerce tech and marketing firm which helps foreign brands sell in China, told CNBC that jewelry and apparel were the most popular product categories from American retailers.

He said everything his company has managed is "way up over last year."

"There is no downturn there. There is no evidence there is sentiment decline for U.S. brands," Cooke told CNBC.

This is breaking news. Please check back for updates.

Let's block ads! (Why?)

https://www.cnbc.com/2019/11/11/alibaba-singles-day-2019-record-sales-on-biggest-shopping-day.html

2019-11-11 08:33:00Z
CAIiEMUsVwEgDguvWVLo_oxrn8wqGQgEKhAIACoHCAow2Nb3CjDivdcCMMPf7gU

Asian markets drop on US-China trade disappointment and Hong Kong violence - CNN

Hong Kong's Hang Seng (HSI) dropped 2.1% at midday, accelerating earlier losses. China's Shanghai Composite (SHCOMP) declined 1.3%. South Korea's Kospi (KOSPI) slumped 0.5%. Japan's Nikkei (N225) edged down 0.3%.

The losses in Hong Kong came as traffic stalled and clashes broke out across the city. A traffic officer shot a protester early Monday morning, according to a police source.

Five months of mass demonstrations have disrupted Hong Kong's economy and plunged the financial hub into its first recession in a decade. The city's real estate stocks were hit particularly hard on Monday, with big property developers like Swire Pacific, Wharf Real Estate, Sun Hung Kai Properties and New World Development all dropping more than 4%.

Monday was also the first opportunity that markets in Asia had to respond to comments from US President Donald Trump, who said Friday in the United States that he has yet to agree to wiping tariffs. That undercut a statement from China's Commerce Ministry that indicated openness to such a concession as part of the first phase of a trade deal between the two countries.

"They'd like to have a rollback," Trump said. "I haven't agreed to anything. China would like to get somewhat of a rollback, not a complete rollback because they know I won't do it."

A day earlier, a spokesman for China's Ministry of Commerce told reporters that US and Chinese negotiators had discussed rolling back tariffs, saying the rollbacks could happen even before a "phase one" trade deal is signed.

Despite Trump's remarks, Wall Street ended last week at record highs.

Let's block ads! (Why?)

https://www.cnn.com/2019/11/10/investing/asian-market-latest/index.html

2019-11-11 06:01:00Z
52780431397468

Why Do So Many People Claim Social Security at 62? - The Motley Fool

Social Security benefits can help bridge the gap between what you have saved for retirement and what you need to live comfortably during your golden years. For many retirees, those monthly checks make up a significant chunk of their income.

How much you receive each month in benefits depends on what age you begin claiming. If you claim at your full retirement age (FRA), you'll receive 100% of the benefit amount you're entitled to each month. But if you claim earlier than that, your benefits will be reduced -- by up to 30% if you have an FRA of age 67 and claim at age 62. On the other hand, if you wait until after your FRA to claim, you'll receive a boost in benefits each month. That extra money can make a big difference, too, as those with an FRA of 67 can receive an additional 24% each month by waiting until age 70 to claim.

Image source: Getty Images.

However, very few people choose to delay claiming benefits until 70. In fact, only 4% of women and 2% of men claim at 70 or later, according to a report from the Center for Retirement Research at Boston College. The most popular age to claim, the study found, was age 62, with 48% of women and 42% of men claiming at this age.

If you receive the smallest checks by claiming as early as possible, why do so many people claim at this age? There are a few common reasons. 

1. You need the money now

Some people may have no choice but to claim benefits early, even if they know they could receive more by waiting.

For instance, if you lose your job in your early 60s and can't find another, you may be forced into an early retirement whether you're ready for it or not. And if you don't have enough saved to make ends meet, you might need to claim Social Security early just so you can get by financially.

In this scenario, you may have no other option than to claim benefits at 62 if you have to retire with little to nothing saved. But with a little planning, you may be able to avoid that scenario entirely. The earlier you start saving, the easier it will be to build a healthy retirement fund. Then even if you are forced to retire sooner than you'd planned, you'll still have some savings to live on so you won't need to depend entirely on Social Security benefits.

2. You don't expect to spend decades in retirement

In theory, the amount you receive in Social Security benefits over a lifetime should be roughly the same regardless of whether you claimed early, at your FRA, or later. That's because if you claim early, your checks will be smaller, but you'll receive more of them. Wait to start receiving benefits, and you'll receive fewer checks, but they'll be bigger. If you live an average lifespan, your lifetime benefits will theoretically end up being roughly equal no matter when you claimed.

In reality, though, life doesn't always work out so perfectly. Sometimes, you can come out ahead by claiming benefits at a certain time.

If you're currently facing health issues and don't expect to live into your 80s or beyond, it might be a smart decision to claim sooner rather than later. After all, if you wait until 70 to begin claiming benefits and spend only a few years in retirement, that doesn't give you much time to enjoy your money.

Of course, there's no way you can predict how long you'll live, so it might be tough to decide whether you're better off claiming earlier or later. But do your best to be honest with yourself about your health, and look into your family health history, too. If everyone in your family has lived to be 100 and you're in the best shape of your life, it might be best to delay benefits. But if you're not in the best health and you have a family history of certain illnesses or conditions, it may be smart to claim early and make the most of your money while you can.

3. You're ready to start enjoying retirement as soon as possible

Even if you can afford to hold off claiming benefits, you may not want to if you're ready to start enjoying your retirement as soon as you can. You might be receiving smaller checks by claiming early, but if you don't need the extra money you'd receive by waiting to claim, you might be fine with that.

Sometimes, claiming benefits early can make the difference between just getting by in retirement and living a comfortable and enjoyable lifestyle. Especially if you have big plans for retirement -- like traveling across the country or learning exciting new hobbies -- you may not be able to afford that lifestyle on your savings alone. However, the extra income you'd receive from Social Security can help you achieve those dreams. Although you won't receive as much per month by claiming at 62 as you would by waiting to claim, you might be willing to sacrifice some extra money to be able to start living your retirement dreams sooner rather than later.

Choosing when to claim Social Security benefits is a big decision, and it's not one to be made lightly. For some people, the extra money you'd receive by delaying benefits until after your FRA is worth the wait. But for others, the best decision is to claim as early as possible and immediately start making the most of your money.

Let's block ads! (Why?)

https://www.fool.com/retirement/2019/11/10/why-do-so-many-people-claim-social-security-at-62.aspx

2019-11-10 12:02:00Z
52780431393549

Saudi Aramco unveils next stage of blockbuster flotation - BBC News

The world's most profitable company has published more details about its planned stock market flotation.

Oil giant Saudi Aramco's long-awaited prospectus said individual retail investors will have a chance to buy shares as well as big institutions.

But the 600-page prospectus did not say how much of the Saudi firm would be sold, nor the date of the listing.

It did, though, mention possible risks, including the government's control over oil output and terrorist attack.

Crown Prince Mohammed bin Salman is seeking to sell the shares to raise billions of dollars to diversify the Saudi economy away from oil by investing in non-energy industries.

Bankers think the long-awaited flotation will value Aramco at $1.5-2 trillion, making the stock market listing the biggest ever.

The prospectus said up to 0.5% of the company would be set aside for retail savers, but Aramco had not yet decided on the percentage for larger institutional buyers.

After the flotation, Aramco will not list any more shares for six months, the prospectus says. Although one of the attractions for investors is the potential of high dividends, the document said Aramco has the right to change dividend policy without prior notice.

Aramco has hired a host of international banking giants including Citibank, Credit Suisse and HSBC as financial advisers to assess interest in the share sale and set a price. Based on the level of interest - a final value will be put on the shares on 5 December.

The sale of the company, first mooted four years ago, has been overshadowed by delays and criticism of corporate transparency at Saudi Arabia's crown jewel.

It was initially thought about 5% of Aramco would be sold, but the final figure is now expected to be half that.

Amid speculation that some foreign institutional investors are cool on the flotation, the government has reportedly pressed wealthy Saudi business families and institutions to invest, and many nationalists have labelled it a patriotic duty.

Aramco last year posted $111bn in net profit. In the first nine months of this year, its net profit dropped 18% to $68bn.

Let's block ads! (Why?)

https://www.bbc.com/news/business-50365604

2019-11-10 11:46:58Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy01MDM2NTYwNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNTAzNjU2MDQ