Former Aetna CEO Mark Bertolini said he is being forced off the board of CVS Health, the Wall Street Journal reported on Monday. Bertolini has served on the CVS board since November 2018, when CVS purchased Aetna for $69 billion. Bertolini said he was willing to remain on the board and that the integration between CVS and Aetna “is far from over,” according to the Journal. CVS Chairman David Dorman thanked Bertolini “for his contribution to the successful integration of Aetna” in the statement a

That’s because of the Electoral College. The Electoral College chooses the president based on state vote totals, and recent history has shown the winning candidate for president does not need to earn the most individual votes to win the Electoral College vote. Proponents argue that the Electoral College ensures that the wider American population is represented in national elections. Watch the video above for more on why the Electoral College exists and what the Supreme Court is weighing about me

Google CEO Sundar Pichai speaks during signing ceremony committing Google to help expand information technology education at El Centro College in Dallas, Texas, October 3, 2019. Wall Street analysts are hoping shares of Alphabet continue their momentum when the internet giant reports its fourth-quarter earnings report on Monday after the bell. The stock is up 7% since January 1 and 11% since the company’s previous report in October which missed estimates disappointing investors. This will be CEO

Amazon CEO Jeff Bezos is being sued for defamation by Michael Sanchez, the brother of his girlfriend, Lauren Sanchez. The lawsuit accuses Bezos of spreading false rumors to journalists that Michael Sanchez had leaked nude photographs of Bezos to the National Enquirer. The lawsuit seeks unspecified damages and does not offer any proof that Sanchez never had access to the photos of Bezos. In the lawsuit, Michael Sanchez claims his sister approached him about leaking information about her affair to

It briefly surpassed that milestone on Friday and had also topped $1 trillion for a stretch back in September 2018. One trader isn’t buying into the Amazon story here, though, preferring one of its trillionaire peers. I think it’s one of the best long-term investments out there,” Danielle Shay, trader specialist at Simpler Trading, said Friday on CNBC’s “Trading Nation.” They got the JEDI contract from the [Department of Defense] last year — that was a hug win, especially over Amazon. For Alpha

President Donald Trump’s impeachment trial is scheduled to resume Monday, with House managers and the defense gearing up to present closing arguments to the Senate. The trial resumes a day before Trump delivers his State of the Union address to Congress. The vote on whether to remove Trump from office is scheduled for Wednesday. The GOP-controlled Senate is unlikely to remove the president from office. The House voted to impeach Trump on Dec. 18 on articles of abuse of power and obstruction of C

(Photo by Nicholas Hunt/Getty Images)A filmed version of the Tony Award-winning musical “Hamilton” will arrive on the big screen in 2021, creator and star Lin-Manuel Miranda announced Monday. Disney was ultimately tapped as the distributor and will bring the filmed version of the Pulitzer and Olivier-winning musical to movie theaters on Oct. 15, 2021. “I’m so proud of what Tommy Kail has been able to capture in this filmed version of Hamilton,” Miranda said in a statement. We’re excited to partn

Big Tech securing additional broadcast rights for NFL games would be a welcome development, sports “super agent” Drew Rosenhaus told CNBC on Monday. This season, NFL games finished with 47 of the top 50 telecasts. The looming expiration of these deals has ignited questions about whether Big Tech companies will make considerable pushes to secure broadcast rights. In September, Jimmy Pitaro, the president of ESPN, said he expected Silicon Valley firms to make an effort to obtain broadcast rights.

But unlike then, the big tech giants of 2020 are more fairly valued and devote more revenue to keeping their growth going, wrote Goldman Chief U.S. Equity Strategist David Kostin in a note. “Today, the S&P 500 market cap is concentrated in the five largest stocks to a degree not witnessed since the peak of the Tech bubble,” Kostin wrote. Microsoft clinched positive results across every segment, 14% year-over-year revenue growth and reiterated guidance for double-digit growth in 2020. More broadl

Oil fell to its lowest level in more than a year on Monday as the coronavirus outbreak and its potential impact on demand further hammered crude prices. “The oil market has been subject to many supply shocks over recent years, but an acute demand shock has not been felt since the 2008 financial crisis,” RBC’s Michael Tran said in a note to clients Monday, adding that the coronavirus has “roiled the oil market.” U.S. West Texas Intermediate fell 2.8%, or $1.45 per barrel, to settle at $50.11 per

Goldman Sachs is in talks to offer small business loans to merchants on Amazon’s sprawling e-commerce platform, according to a person with knowledge of the plan. The deal, if closed, would mark the second tech giant using Goldman as a back-end provider of bank-regulated services. The move to begin making loans to small businesses in the latter stages of a decade-long U.S. economic expansion may increase the risks Goldman is taking on. Amazon started its small business lending operation in 2011,

Tesla has more short sellers than any other U.S. stock, S3 says, with over 18% of its publicly available shares sold short. The short sellers are investors who borrow shares from a bank and then sell them, hoping the stock will go down. If it does, then the short sellers buy them back at lower prices and return them to the bank, profiting on the difference. If a stock price instead trends higher, short sellers are forced to buy back the equity at a higher price in order to cut their mounting los

If you don’t have a college degree, it won’t hold you back from working for Tesla, Elon Musk tweeted on Sunday. What’s more, to work in Tesla’s artificial intelligence department does not require a specific degree. “A PhD is definitely not required,” Tesla boss Elon Musk said on Twitter on Feb. 2. I “don’t care if you even graduated high school,” Musk said. “There’s no need even to have a college degree at all, or even high school,” Musk said during a 2014 interview with the German automotive pu

Traders work in the gold and silver options pit at the New York Mercantile Exchange. Jin Lee | Bloomberg | Getty ImagesGold prices slipped slightly on Monday after China pumped cash into its economy, but the metal continues to flirt with multi-year highs. Gold price and coronavirusThe coronavirus outbreak has triggered further risk sell-offs, but is not alone in providing a lift to the gold price, according to BullionRock Managing Director Robin Newbould. “In 2019, pre-virus, gold gained circa 2

OPEC and its allies could cut production by more than a million barrels a day at a rescheduled meeting this month, as policymakers work to arrest a double-digit collapse in the price of oil. The Wall Street Journal also reported on Monday, citing OPEC officials, that kingpin Saudi Arabia was considering an option to cut by 1 million barrels a day to jolt markets. While Croft suggested OPEC could cut “potentially in the million plus range,” other analysts have suggested a smaller cut may be more

Sterling fell more than 1% Monday after the U.K. Prime Minister Boris Johnson said he wouldn’t accept EU standards as a price to pay in order to secure a free trade deal. The United Kingdom left the EU officially on Friday, but it has yet to agree a new relationship with the EU. During this period, London also aims to develop new trade arrangements with Brussels. Failure to reach a new trade deal would bring higher costs for U.K. and European exporters. “There’s no doubt there is also considerab

Before the meeting, Byron and I read up on Musk’s entire life history. But all that hard work didn’t make much of a difference, because not more than 30 seconds into the meeting, Musk told us, “No. Byron and I were set up to lose, but ‘delight’ was the spark that intrigued Musk and convinced him to let us stay. They were focused on the gift Byron was holding. Byron and I were set up to lose, but delight was the spark that intrigued Musk and convinced him to let us stay.

Bloom ProductionsLawmakers recently upended a tax strategy for wealthy Americans who want their loved ones to inherit sizable retirement accounts. The Secure Act, which President Donald Trump signed into law in December, changed rules around the “stretch IRA.” Prior rules let people who inherited an individual retirement account “stretch” withdrawals from the account over their lifetime. Under this arrangement, a trust — rather than an individual — inherits the retirement account. These trusts o

Top Apple analyst Ming-Chi Kuo said in a note Sunday that his firm,TF international Securities is cutting iPhone shipment forecasts for the first quarter of 2020 (Apple’s fiscal Q2) by 10% because of the coronavirus. “Our latest survey indicates that the iPhone supply is being affected by the coronavirus and, therefore, we cut the iPhone shipment forecasts by 10% to 36-40 mn units in 1Q20,” Kuo said in the note. Apple no longer discloses how many iPhones it ships each quarter, but Kuo estimates

The U.K. has pledged £20 million ($26 million) to help fund the development of a vaccine for the new coronavirus, which has so far killed 362 people globally. “Vaccines are our best defense against a host of deadly diseases, including coronavirus,” U.K. Health Minister Matt Hancock said in a press release on Monday. CEPI, an international alliance of public and private organizations, announced on Friday that it had partnered with pharmaceutical firm CureVac to work on a coronavirus vaccine. The