Trump Administration Continues Cushioning Medicare Drug Premiums
The Biden administration overhauled the way Medicare, the US program for the elderly and disabled, pays for prescription drugs. Democrats capped the amount of money seniors would have to spend on drugs they pick up at the pharmacy and allowed the program to negotiate what it would pay for some high-cost medications.
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Yahoo
22 minutes ago
- Yahoo
Maria Shriver Says Bill To Rename Kennedy Center After Trump Makes Her ‘Blood Boil'
Maria Shriver is not keen on Republicans' plans to rename the Kennedy Center in President Donald Trump's honor. The journalist, who is the niece of former Democratic President John F. Kennedy, slammed a GOP bill aiming to rechristen the flagship performing arts center in Washington, D.C., in a Monday post on X, calling the move both infuriating and 'petty.' 'This is insane. It makes my blood boil,' she wrote. 'It's so ridiculous, so petty, so small minded.' Shriver went on to write, 'Truly, what is this about? It's always about something.' Pointing to Trump's revamp of another D.C. landmark, she wrote, ''Let's get rid of the Rose Garden. Let's rename the Kennedy Center.' What's next?' Earlier this year, the president announced his plans to install cement over the White House's iconic Rose Garden, which was created during Kennedy's administration. The makeover appears on track to be completed by the beginning of August, according to The Associated Press. Shriver's criticism was largely aimed at a bill introduced by Rep. Bob Onder (R-Mo.) earlier this month, which potentially paved the way to 'designate the John F. Kennedy Center for the Performing Arts as the 'Donald J. Trump Center for the Performing Arts.'' In a statement, the Missouri politician said, 'I cannot think of a more ubiquitous symbol of American exceptionalism in the arts, entertainment, and popular culture at large than President Trump.' Onder's efforts come on the heels of a similar proposal to rename the Kennedy Center Opera House after first lady Melania Trump. Both moves could be against the law, which originally authorized the center's construction, however. Statute cited in an NBC News article states that, 'After December 2, 1983, no additional memorials or plaques in the nature of memorials shall be designated or installed in the public areas of the John F. Kennedy Center for the Performing Arts.' Back in February, Trump was appointed the chairman of the Kennedy Center after canning the previous bipartisan Board of Trustees, its president and its former chairman. Related... House Republican Wants To Rename The Kennedy Center After Trump Maria Shriver Commends Cousin Caroline Kennedy's 'Courage' After Scathing RFK Jr. Rebuke Republicans Want To Rename The Kennedy Center Opera House After Melania Trump
Yahoo
22 minutes ago
- Yahoo
Novo Lifer Takes Job of Reviving Europe's Weight-Loss Superstar
(Bloomberg) — Maziar Mike Doustdar spent more than three decades quietly climbing the ranks of Novo Nordisk A/S, from office clerk through logistics and marketing roles to head of international operations. Now the relatively unknown insider is moving into the spotlight with a daunting task: revive a once high-flying drugmaker from a steep descent that's wiped out two-thirds of its value in the past year. Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival Trump Administration Sues NYC Over Sanctuary City Policy Doustdar has pledged to work quickly, and there were hints on Tuesday that part of his response may involve cutbacks and job reductions. He said he would look at 'realigning the cost base,' though he didn't offer any details. Doustdar's appointment as Novo's new chief executive officer was announced alongside a stark reminder of the challenges ahead, particularly in the US, the biggest market for obesity treatments. The Danish firm, based just north of Copenhagen, cut its earnings outlook as its blockbuster weight-loss drug Wegovy continues to cede ground to archrival Eli Lilly & Co., whose competing treatment has gained momentum in the US market and beyond. The 54-year-old inherits a global powerhouse facing a critical point after being beset with supply shortfalls, drug pipeline failures and sharp competition that's shaken investor confidence in its prospects. Questions have already emerged on whether Doustdar — who has helmed Novo's non-US operations in recent years — is the right leader, given the company's headwinds are particularly linked to the US. He pushed back against any doubts on a call on Tuesday, defending his track record. The US is 'more than half of our business and we don't just sit there running our own area, but we support the CEO,' he said. 'So I've sat in this executive management team for more than 10 years and I know enough of the US business.' The past year has marked a sharp reversal of fortune for Novo, which became a household name for jump-starting the booming obesity drug market with its GLP-1 medicines. But it's failed to keep up with runaway demand and misjudged the speed and scale of competition, including a shadow market of copycat compounds. Mixed trial data and heightened political scrutiny over pricing have further shaken investor confidence. The stock's slump from its June 2024 peak has erased more than $400 billion from Novo, dethroning it as Europe's most valuable company. That ultimately cost its former CEO, Lars Fruergaard Jorgensen, his job in May. After the cut to the outlook, the shares fell almost 30% at one point on Tuesday. They closed down 23%, the biggest one-day drop on record. 'I don't like it,' Doustdar said of the share-price moves. He added that 'setbacks don't define companies. Our response does.' Novo is also hugely important to Denmark. The company has doubled its headcount over the past decade to more than 77,000 people, and just under a half of them work in its home country. In many ways, the drugmaker's influence in Denmark is outsized: for a time last year, its market value topped the size of the economy, its tax bill helps fund the government's increased defense spending and booming drug exports have forced the central bank to keep interest rates low. On Tuesday, Novo Chair Helge Lund described Doustdar as a 'natural challenger,' saying he 'has a bias for speed, for pace and for action.' The new CEO is an Austrian national, who was born in Iran and raised in the US. He joined Novo in 1992 in Vienna. He ran with the idea of speed when speaking to investors on Tuesday. 'We will sharpen our focus and move faster,' Doustdar said. 'We will operate more efficiently. We will advance our pipeline and keep pushing the boundaries of innovation, and we will invest to accelerate growth and deliver shareholder value. That is my promise to you.' —With assistance from Lisa Pham and Christian Wienberg. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Elon Musk's Empire Is Creaking Under the Strain of Elon Musk ©2025 Bloomberg L.P.
New York Post
24 minutes ago
- New York Post
Moscow taunts Trump by comparing him to Biden, warns new cease-fire deadline is ‘step towards war'
A top ally of Russian President Vladimir Putin taunted President Trump and slammed his new deadline for a cease-fire in Ukraine as 'a threat and a step towards war.' Dmitry Medvedev, the former Russian President turned Security Council deputy chairman, said Tuesday that Moscow will not abide by Trump's call to end the war in Ukraine in 10 to 12 days, warning Trump that his threats could spark war between Washington and Moscow. 'Trump's playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn't Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war,' Medvedev wrote on X. 'Not between Russia and Ukraine, but with his own country,' the Putin ally added. 'Don't go down the Sleepy Joe road!' 4 Russia's Security Council Deputy Chairman Dmitry Medvedev said President Trump's new deadline for a cease-fire in Ukraine could spark war between Moscow and Washington. 4 Russia fired more than 300 drones into Ukraine overnight in their latest assault that has claimed civilians lives. Ukrinform/Shutterstock The message from the Kremlin comes a day after Trump announced that he was moving up his 50-day deadline for peace, demanding Moscow end its invasion within the next two weeks. 'I'm going to make a new deadline, of about 10 — 10 or 12 days from today,' Trump told reporters during his visit to Scotland. 'There's no reason for waiting. It was 50 days. I wanted to be generous, but we just don't see any progress being made.' The president has threatened harsh secondary tariffs against Moscow if it does not agree to a US-backed ceasefire, with Trump vowing to pump 'billions of dollars' worth of weapons into Ukraine. Trump has grown increasingly frustrated with the lack of cease-fire talks between Russia and Ukraine, which have undermined his campaign promise to end the three-year-long conflict on day one of his second term. 4 A hospital in the Ukrainian city of Kamianske was hit by a Russian strike on Tuesday. REUTERS Russian officials have repeatedly scoffed at the deadline, with Moscow continuing to bombard Ukraine with hundreds of drones every night in assaults that have claimed civilian lives. The latest overnight attack saw more than 300 drones and seven missiles fly into Ukraine, killing at least 21 people and wounding more than 80 others, officials said. The majority of the deaths came after a Russian airstrike hit a prison in the Zaporizhzhia region, killing 17 inmates in an attack Ukrainian officials condemned as a war crime under international conventions. 4 President Trump called on Russia to end the war in 10 to 12 days. via REUTERS As Moscow's attacks on Ukrainian civilians intensify, the Institute for the Study of War, a Washington-based think tank, surmised that Putin is purposefully angering the West to drum up support for the war at home. 'Kremlin officials continue to frame Russia as in direct geopolitical confrontation with the West in order to generate domestic support for the war in Ukraine and future Russian aggression against NATO,' the ISW said. With Post wires
