Latest news with #Hollywood-based
Yahoo
24-07-2025
- Business
- Yahoo
UnitedHealth stock sinks 4.7% after company confirms DOJ investigation into Medicare billing practices
UnitedHealth (UNH) stock fell 4.7% on Thursday after the insurance giant disclosed in a regulatory filing that it is facing an investigation from the Department of Justice into its Medicare billing practices. Following news reports from the Wall Street Journal about insurance billing techniques used by UnitedHealth and other large medical insurers, the Justice Department's healthcare fraud unit began making criminal and civil requests of the company, according to the filing. "The Company has full confidence in its practices and is committed to working cooperatively with the Department throughout this process," UnitedHealth said in its disclosure. "The Company has a long record of responsible conduct and effective compliance." The insurer also said it has "proactively launched its own initiative to conduct third party reviews of policies, practices, and associated processes and performance metrics for risk assessment coding, managed care practices, and pharmacy services." The Wall Street Journal's reporting, first published in December 2024, documented several ways in which United and other major insurers have received billions of dollars in extra payments from the federal Medicare Advantage system, which allows approved private companies to provide health benefits in lieu of the federally managed Medicare system. These include companies taking on extra, and sometimes incorrect, diagnoses to patient profiles when those rulings had not been made by the doctors actually treating the patients, allowing the insurers access to extra payouts from the Medicare program, among other tactics. The health insurance giant has been facing a probe from the Justice Department into possible Medicare fraud since at least the summer of 2024, according to the Wall Street Journal's reporting. UnitedHealth has been embroiled in a series of leadership controversies and financial setbacks over the last year, with its stock falling about 50% over that period. In May 2024, the company and several senior executives — including founder and group chairman Stephen Helmsley, and then-UnitedHealthcare CEO Brian Thompson — were sued by a Hollywood-based pension fund for insider trading in a lawsuit alleging executives sold more than $100 million in stock after the company found out it was facing an antitrust probe by the Department of Justice but before the investigation was publicly disclosed. Seven months later, in December, Thompson was shot and killed in Manhattan the morning of the company's annual investor meeting. Reactions across the country centered on anger toward UnitedHealthcare over its treatment of people on its insurance, including denial of claims. When the company reported earnings a month later, the results showed revenue missed analyst estimates and the insurer's medical care ratio — which measures how much of collected premiums are spent by the insurer on medical care — spiked. The stock dropped around 5% after the release. Three months later, the company's first quarter earnings report saw it slash its adjusted earnings per share guidance and sent shares down over 22%, its worst single-day performance since 1998. The next month, UnitedHealth's CEO Andrew Witty abruptly stepped down while the company pulled its annual forecast. Helmsley, who had previously moved to a role as group chairman, was quickly appointed as CEO to replace Witty. He was granted a pay package that includes a $1 million salary and $60 million in stock options that will vest after three years. That same month, the company suspended its annual forecast entirely, sending shares tumbling by roughly 16%. And in a final blow, UnitedHealth accidentally leaked a memo to STAT News in June that listed internal talking points on topics including the use of AI models to deny claims. Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Click here for in-depth analysis of the latest stock market news and events moving stock prices
Miami Herald
22-07-2025
- Business
- Miami Herald
How Miami's airport and seaport are working to get you fresher fruit and flowers
Miami International Airport is boosting cargo capacity by as much as 50% with a new facility that broke ground on Monday, a sign of its expanding role in providing fresh fish, fruit and flowers to consumers across the East Coast. The $141 million joint initiative with PortMiami will transform vacant land southwest of the airport at Northwest 74th Avenue and 12th Street. Slated to open in 2027, the 340,000-square-foot cold storage complex, about the size of six NFL fields, will allow more fresh produce and other perishables to enter the U.S. through Miami. Hollywood-based Mandich Group, a privately held cold storage development firm, is putting in $98.5 million and the PortMiami will contribute $9 million. The port will also provide $33.5 million it obtained from a U.S. Department of Transportation grant. 'It will be the first center of its kind in the state of Florida and the largest in the U.S.,' PortMiami spokesperson Suzy Trutie said in an interview with the Miami Herald. The airport and seaport receive lots of perishables. PortMiami puts them on trucks and sends them to MIA for storage and treatment before they're further transported. The new building will allow them to do more of that. 'For us, it's a way to expand our cargo business and trade,' Trutie said. The new center has the capacity to handle over 1.5 million tons of agricultural cargo annually, Greg Chin, communications director for Miami-Date Aviation Department, told the Herald. That's half the 3 million tons the airport received in 2024. Booming Valentine's Day MIA is growing, not just in passenger volume, but in freight, and it seeks to keep up with rising demand. The amount of cargo it handled in 2024 was a record for the fifth straight year. That included the vast majority of fresh-cut flowers the U.S. imports for Valentine's Day and Mother's Day. By Valentine's Day 2025, airport officials estimated that more than 90,000 tons of fresh-cut flowers arrived at the airport. That was also a new record for MIA, 3% higher than the previous record set in 2023. It totaled about $400 million in value. Fed Ex Private companies have taken notice. MIA is the site of FedEx's largest 'cold chain operation' worldwide, Basil Khalil, vice president of operations for FedEx Caribbean and Central America, told the Herald in February. About three years ago, the shipping company made a big bet on Miami by doubling the size of its cargo facility at MIA, said the Miami-based executive. That brought it to over 280,000 square feet. FedEx has more than 500 employees at the site. 'The flower industry helps employ thousands of people in Colombia and here at MIA,' Khalil said. It's not only during Valentine's Day that bouquets come in. Several hundred airport, seaports and border crossings handle international trade, yet MIA stands out. In 2024, the U.S. imported $2.26 billion in fresh-cut flowers, an increase in value of 9% compared to 2023, according to data provided by Ken Roberts, founder and CEO of WorldCity, a data and media company that hosts the website. MIA handled a whopping 81% of that. Colombian carrier Avianca Cargo and LATAM Cargo both have robust operations at MIA. DHL Express is growing, too. MIA has other works in progress for boosting cargo capacity. In July 2024, the Miami-Dade County Commission approved a lease agreement with Miami Gateway Partners, LLC, to build a four-story cargo facility that would increase Miami International Airport's storage capacity by 2 million tons. PortMiami PortMiami is growing its cargo business as well. It traded with 149 nations and handled about 10 million tons of freight in 2024. The space that broke ground on Monday — drawing officials including Congressman Mario Diaz-Balart and Miami-Dade County Mayor Daniella Levine Cava — more directly benefits perishables. The complex will include a cold chain processing facility that provides cold storage, warehousing, distribution and other services for perishable goods. When the facility is complete, it will increase temperature-controlled storage space at MIA by as much as 34%, to 521,000 square feet, Chin said. The cold storage area will cover about 80% of the new space. The remaining 20% will be a new area to eradicate pests from refrigerated cargo containers and air cargo pallets. That treatment area will utilize non-chemical 'advanced treatments and inspection capabilities' to speed up inspections of fruits, vegetables, flowers, and other plant-based perishable items, said Trutie, the PortMiami spokesperson. This will mark a change from the chemical treatment used today. The Norcross, Georgia-based company Reveam will be brought in, providing a new pasteurization technology for fresh produce it developed that doesn't use chemicals or heat, but electrons. The treatments are certified by the U.S. Department of Agriculture and meant to expedite inspections for 'invasive pests and diseases that threaten U.S. agriculture.' The new cold storage complex is expected to result in 200 new jobs. It'll have environmental benefits too: The early pest and disease detection will help preserve native ecosystems. And 'it's going to reduce spoilage and inspection delays,' Levine Cava said at the ceremony on Monday.
The Sun
04-07-2025
- Entertainment
- The Sun
Tourism Malaysia promotes VMY2026 through film 'Worth The Wait'
KUALA LUMPUR: Tourism Malaysia is intensifying efforts to position the country as a premier travel destination by leveraging international films, with the latest collaboration being the romantic drama 'Worth The Wait'. The initiative is part of preparations for Visit Malaysia Year (VMY) 2026, aiming to attract global audiences through cinema. The film, a joint effort between the Ministry of Tourism, Arts and Culture (MOTAC), the National Film Development Corporation Malaysia (FINAS), and Hollywood-based King Street Pictures, highlights Malaysia's scenic landscapes and cultural richness. Tourism Malaysia director-general Datuk Manoharan Periasamy emphasized the power of film in boosting tourism. 'Film is a compelling medium to showcase Malaysia's beauty to the world. We encourage more international productions to choose Malaysia as their filming location,' he said during the film's premiere. He added that the cast, with their massive social media following, will serve as ambassadors for VMY2026, amplifying Malaysia's appeal. Produced by Rachel Tan, 'Worth The Wait' draws inspiration from her own cross-continental love story. 'This film celebrates Asian identity while resonating with global audiences,' she shared. Shot in various Malaysian locations, the movie highlights the country's hospitality and diverse attractions. Featuring a star-studded cast including Ross Butler and Lana Condor, the film is set for theatrical release in Malaysia this August, with plans for wider Southeast Asian distribution. Its success on streaming platforms in Hollywood, Canada, and the UK underscores its international appeal. - Bernama
India.com
27-06-2025
- Politics
- India.com
Israeli PM Benjamin Netanyahu's petition rejected by court amid tensions with Iran, accused of serious charges including..., was seeking two...
(Photo: AP/Alamy) New Delhi: Amid tensions with Iran, Israeli Prime Minister Benjamin Netanyahu has received a major blow from a Jerusalem court. The District Court on Friday, 27 June 2025 rejected a petition seeking a two-week postponement of the hearing in three corruption cases against Prime Minister Benjamin Netanyahu. Judge Rivka Friedman-Feldman said that the petition submitted by Netanyahu's lawyer Amit Hadad did not provide any solid basis or reason that would be sufficient to cancel the hearing. Netanyahu submits copy of his schedule A few hours after the court's decision, the Prime Minister also presented a second petition, in which he also submitted a copy of his schedule for the next week to prove that he needed to postpone the hearing. Netanyahu's lawyer argued on Thursday, June 26, that amid the ongoing ceasefire after the recent war with Iran, the Prime Minister needed two weeks of relief to focus on extremely important bilateral, national and security matters. What was Israeli PM's schedule? During this petition, several media reports said that Israel and the USA were planning a comprehensive agreement to end the Gaza war and normalize the situation with Arab countries, although there has been no official confirmation of this. What is Netanyahu accused of? Prime Minister Netanyahu is accused of bribery, fraud and breach of trust in three separate corruption cases. He denies all the allegations and claims that all this is part of a political conspiracy, in which the police and the state prosecution department have falsely filed charges against him. Hollywood connection The accusations include accepting some $200,000 in gifts such as cigars and champagne from two billionaires, Hollywood-based Israeli movie mogul Arnon Milchan and Australian magnate James Packer, according to a Times of Israel report. Deep anger at court's decision Finance Minister Bezalel Smotrich expressed deep anger at this decision of the court and prosecutors. He said that it is extremely unfortunate that the court and the prosecutors have failed to understand national priorities and interests. This situation is a big failure for the country. National Security Minister Itamar Ben Gvir also described the decision as out of touch with reality and reiterated US President Donald Trump's appeal in which he demanded a complete halt to the trial. Likud Party MP Tali Gottlieb said on X that she is fed up with the insulting treatment being meted out to the Prime Minister. She expressed hope that Netanyahu will maintain his struggle, pride and strength, as he has shown to Israel.
Yahoo
11-06-2025
- Business
- Yahoo
Silver Airways cancels more than a dozen flights at Fort Lauderdale airport. Why?
Hollywood-based Silver Airways abruptly canceled all flights early June 11, telling passengers going to or from Fort Lauderdale-Hollywood International Airport and the other airports it services to check with their credit card companies for refunds. "We regret to inform you that we are ceasing operations as of today, June 11, 2025," the heavily indebted company said around midnight Wednesday, June 11 on Instagram. "Please do not go to the airport. All credit card purchases should be refundable through your credit card company or your travel agency." The airline canceled 14 flights in and out of Fort Lauderdale that connected with airports across Florida and the Carribean. Silver Airways shut down after no one stepped up during a June 6 auction to buy the company, allowing Connecticut-based Wexford Capital to take control of it. "In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver's flight operations," the airline wrote in its social media post. Silver filed for bankruptcy protection in December with more than $100 million in debt. It was operating until Wednesday with a $5.7 million loan from Wexford, South Florida NPR affiliate WLRN reported June 6. The airline flew entirely within Florida and the Carribean. In Florida, it connected Fort Lauderdale with Tampa, Key West and Tallahassee. It also serviced Pensacola, but not directly with Fort Lauderdale. Silver Airways flew nonstop between Fort Lauderdale and Puerto Rico, the Bahamas, the U.S. Virgin Islands, the British Virgin Islands, and the islands of St. Maarten and St. Kitts. More than 32,000 people flew Silver Airways in and out of the Fort Lauderdale Airport in April, the airport's latest passenger data shows, up 31% from a year prior. Silver Airways stopped flying out of Palm Beach International Airport last September. Chris Persaud covers transportation for The Palm Beach Post. Email news tips and ideas to cpersaud@ This article originally appeared on Palm Beach Post: Silver Airways flights cancelled at Fort Lauderdale, Florida airport
