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U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before falling back toward $99,000. It’s climbed dramatically since Election Day on hopes President-elect Donald Trump will be more friendly to crypto. Airline stocks were strong, while Treasury yields held relatively steady in the bond market. On Thursday: The S&P 500 fell 11.38 points, or 0.2%, to 6,075.11. The Dow Jones Industrial Average fell 248.33 points, or 0.6%, to 44,765.71. The Nasdaq composite fell 34.86 points, or 0.2%, to 19,700.26. The Russell 2000 index of smaller companies fell 30.39 points, or 1.3%, to 2,396.17. For the week: The S&P 500 is up 42.73 points, or 0.7%. The Dow is down 144.94 points, or 0.3%. The Nasdaq is up 482.09 points, or 2.5%. The Russell 2000 is down 38.56 points, or 1.6%. For the year: The S&P 500 is up 1,305.28 points, or 27.4%. The Dow is up 7,076.17 points, or 18.8%. The Nasdaq is up 4,688.91 points, or 31.2%. The Russell 2000 is up 369.10 points, or 18.2%.ELEMENTS Linked to the MLCX Grains Index – Total Return (NYSEARCA:GRU) Stock Price Up 0.1% – Time to Buy?
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Defense contractors that have embraced diversity, equity, and inclusion policies could find themselves targeted under the new Trump administration, especially as Republican lawmakers have full control of Congress for the next two years. President-elect Donald Trump is set to issue a wave of changes to the defense industry when he takes office and is expected to overturn several Biden administration policies focused on DEI initiatives. That puts several defense contractors under the microscope as Republican lawmakers make plans to bring an end to diversity programs in the Pentagon and the defense industry as a whole. “Under the Trump administration, extreme and divisive DEI initiatives across the Pentagon and government agencies will come to an end,” Rep. Greg Steube (R-FL) told the Washington Examiner. “Taxpayer dollars should strengthen our military and national security — not fund radical agendas that distract and divide us. America’s defense industries must focus on protecting our nation and ensuring we lead with strength and unity on the world stage.” Republicans have long sought to crack down on DEI initiatives in the defense sector but have lacked the power to do so over the last four years with Democrats in charge of the White House and Senate. But GOP lawmakers in the House have attempted to use their majority to pass bills signaling their plans to dismantle DEI programs, as evidenced by the lower chamber’s version of the National Defense Authorization Act passed earlier this summer. The spending bill included a number of culture war amendments targeting abortion access and transgender military members — proposals deemed dead on arrival in the Democratic-controlled Senate but could see new light when Republicans take control of the upper chamber in January. “The American people spoke loud and clear when they elected President Trump and Republican majorities: they are sick of the Left’s obsession with DEI,” Sen.-elect Jim Banks (R-IN) told the Washington Examiner. “Taxpayers should not subsidize this radical woke agenda, and President Trump will put a stop to it.” Republicans are already preparing for a massive defense overhaul under the Trump administration, which was seemingly confirmed with the president-elect’s nomination of Pete Hegset h to become the next secretary of defense. Hegseth has repeatedly criticized diversity concerning the military, once referring to it as the “dumbest phrase on planet earth.” With his nomination and others in Trump’s administration, those in his close circles have hinted that organizations outside of the defense industry may also come under fire. “President Trump is putting together a stellar Cabinet that is focused on America First and helping all Americans,” Kimberly Guilfoyle, fiancée to Donald Trump Jr. and who worked on Trump’s 2020 campaign, told the Washington Examiner. “Companies pushing woke policies like DEI are in for a rude awakening.” Several GOP sources close to the president-elect’s team and the Senate told the Washington Examiner that Lockheed Martin will be among the targeted defense contractors in the forthcoming Trump era. “Lockheed Martin has been the poster child for DEI,” one source close to the Trump transition said. “I imagine the Trump administration will give them increased scrutiny for embracing the left. It could harm Lockheed’s ability to navigate this new Washington.” Those involved with those plans pointed to the firm’s policies implemented over the last several years, including a training program reported by Fox News that Lockheed Martin executives and employees underwent that reportedly taught being “a white male was analogous to being a KKK member.” CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER But, while some of those in GOP circles seek to paint Lockheed as an anti-Trump entity with its DEI policies, the defense contractor has aligned itself with the president-elect in the past — working closely with his administration and benefitting from many of his policies. "As we did in his first term, we look forward to a strong working relationship with President Trump, his team, and also with the new Congress to strengthen our national defense," a spokesperson for Lockheed Martin told the Washington Examiner. "We are aligned with the focus of building mission-critical defense technology that helps keep Americans and our allies safe, and to that end, we follow responsible business practices expected by our customers, investors, employees, and other stakeholders." Other defense contractors that could come under fire include RTX Corporation , Boeing , and Northrop Grumman Corporation . All have DEI programs publicly listed on their websites, although Boeing has since reportedly dismantled its diversity department. The Washington Examiner reached out to those defense contractors known for its DEI policies for comment.Jiuzi Holdings and Shenzhen Maigesong Terminate Negotiations to Focus on Future Growth
One of the country’s largest health insurers reversed a change in policy Thursday after widespread outcry, saying it would not tie payments in some states to the length of time a patient went under anesthesia. Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted from “significant widespread misinformation” about the policy. “To be clear, it never was and never will be the policy of Anthem Blue Cross Blue Shield to not pay for medically necessary anesthesia services,” the statement said. “The proposed update to the policy was only designed to clarify the appropriateness of anesthesia consistent with well-established clinical guidelines.” Anthem Blue Cross Blue Shield would have used “physician work time values,” which is published by the Centers for Medicare and Medicaid Services, as the metric for anesthesia limits; maternity patients and patients under the age of 22 were exempt. But Dr. Jonathan Gal, economics committee chair of the American Society for Anesthesiologists, said it’s unclear how CMS derives those values. In mid-November, called on Anthem to “reverse the proposal immediately,” saying in a news release that the policy would have taken effect in February in New York, Connecticut and Missouri. It’s not clear how many states in total would have been affected, as notices also were and . People across the country registered their concerns and complaints on social media, and encouraged people in affected states to call their legislators. Some people noted that the policy could prevent patients from getting overcharged. Gal said the policy change would have been unprecedented, ignored the “nuanced, unpredictable human element” of surgery and was a clear “money grab.” “It’s incomprehensible how a health insurance company could so blatantly continue to prioritize their profits over safe patient care,” he said. “If Anthem is, in fact, rescinding the policy, we’re delighted that they came to their senses.” Prior to Anthem’s announcement Thursday, Connecticut comptroller Sean Scanlon said the “concerning” policy wouldn’t affect the state after conversations with the insurance company. And New York Gov. Kathy Hochul said in an emailed statement Thursday that her office had also successfully intervened. The insurance giant’s policy change came one day after , another major insurance company, was shot and killed in New York City. ___ The Associated Press Health and Science Department receives support from the Robert Wood Johnson Foundation. The AP is solely responsible for all content.
DEAR ERIC: We live on a lake and love hosting our great-nieces and nephews on school breaks and the entire family on vacations. My husband and I have no children. Our niece’s families are dear to us. Our 11-year-old great-nephew has been gaming now for about a year. When he comes to visit, instead of reading, playing cards or board games with us, like in the past, he wants to disappear with his video games. We feel vacated. How do we navigate this with his parents who think his being on a video gaming team at school is awesome and I think it is a bad omen? What is a fair place of compromise and balance? – Game Off DEAR GAME OFF: Let his parents parent their child. The other night I re-watched the movie “Network” from 1977 (stay with me here; it relates). In it, a character in his 60s dismisses a character played by a young Faye Dunaway by saying “she’s the television generation. She learned life from Bugs Bunny. The only reality she knows is what comes to her over her TV set.” Every generation has anxieties about the ways that technology is changing social interactions or altering the minds of the generations below. While some of those concerns are valid, those of Faye Dunaway’s generation (now in their 70s and 80s) would argue that they’ve managed to stay quite well-rounded, despite (and often with the aid of) TV. In moderation, video games have been shown to improve a child’s cognitive function and working memory. While your great-nephew’s gaming might not be your choice, it’s important that you not seek to undermine the research and thinking that his parents have done about it. What you’re really yearning for is a sense of togetherness as a family, so try talking to your niece and her spouse about group activities you can plan to meet your great-nephew where he is. And don’t be afraid to pick up a controller and ask him to show you the ropes. *** DEAR ERIC: I’m not sure if the letter from “Invisible Dad” about his wife buying trinkets for their adult kids and having more close conversations with them is related to my better half and myself. I think it could be but I can’t be sure so don’t want to ask him. I never really thought about it all the time, but assumed kids knew that gifts were from both of us. If this question does relate to us, and even if it doesn’t, I will be mindful of what I haven’t been mindful of. My heart is melting if he does really care that much about the kids. Thank you for listening. – Daily Reader DEAR READER: Thanks for your thoughtful note and your openness. Please also reconsider talking to your husband about the ways you interact with your kids. It could be really healing and productive. (Send questions to R. Eric Thomas at eric@askingeric.com or P.O. Box 22474, Philadelphia, PA 19110. Follow him on Instagram and sign up for his weekly newsletter at rericthomas.com .) ©2024 Tribune Content Agency, LLC. Latest Advice Columns Dear Abby: I’m tired of hearing about my best friend’s troubled marriage Today’s daily horoscope for Nov. 23, 2024 Miss Manners: My daughter was just a flower girl ... now her name and photo appear on a wedding website Asking Eric: A, B, and C live in the same apartment building. A invites B to go to lunch. Can B invite C? Asking Eric: Friend accepts a dinner invitation then cancels when there’s opportunity for family timeJC goalkeeper banned for three games by ISSA
Search and rescue crews in B.C.'s Lower Mainland say they are on standby to help with possible evacuations as an atmospheric river makes its way through southwestern B.C. on Saturday. The heavy rainfall, which began Friday and struck the South Coast and parts of the Interior, has caused widespread power outages and flooding, as well as a mudslide in Coquitlam that has left one person missing. People in the most heavily impacted areas posted videos to social media showing vehicles partially submerged on flooded roads, and muddy water and debris flowing down streets. Environment Canada says 90-150 millimetres of rain will fall in Metro Vancouver, parts of the Fraser Valley and the Sea-to-Sky corridor by Sunday, while rain on the North Shore could potentially exceed 180 millimetres. Coquitlam Fire and Rescue say a mudslide around noon washed away a home on Quarry Road, between Calgary Drive and MacIntyre Road. Fire Chief Scott Young told CBC News the house was knocked off its foundation and turned into debris. He said they don't know if the homeowner was around at the time, but that RCMP are considering them a missing person. Crews had to suspend their search for the homeowner when it got dark, but plan to resume efforts Sunday morning. Meanwhile, Coquitlam search and rescue crews say they were called in to rescue three hikers midway through the day. The hikers were rescued successfully, according to a post from Coquitlam SAR on X. A mudslide closed Quarry Road between Calgary Drive and MacIntyre Road in Coquitlam on Saturday, Oct. 19, 2024, as an atmospheric river hit B.C. (Coquitlam RCMP) Ryan Smith with Ridge Meadows SAR told CBC News his team has been put on standby to help with any evacuations that may occur throughout the region. He said crew members have been deployed to their base and are making sure rafts, kayaks and other rescue equipment are ready to go at a moments notice. Smith cautioned people to be careful around any waterways. "It doesn't take a lot of swift water to wash somebody off their feet." WATCH | Rain floods roadways, submerging vehicles in Surrey and Burnaby: B.C. sees power outages, flooded roads as atmospheric river hits 2 months ago Duration 2:16 Some streets were turned into rivers Saturday, and 10,000 B.C. Hydro customers were left without power The storm came on B.C.'s election day and downed power for thousands of people, including several polling stations, which were forced to temporarily close. A map and list of current power outages is available on the B.C. Hydro website. As of 8:20 p.m. PT, more than 2,700 B.C. Hydro customers were without power, a significant improvement from earlier in the day. The company said it ramped up its availability of crews ahead of the storm. Environment Canada issues rainfall warnings for southwest B.C. B.C. voting stations affected by power outages reopened "Crews will continue to work throughout the day and into the evening and potentially overnight if there if there are outages," spokesperson Mora Scott said. Three years of consecutive drought have led to significantly weakened trees across the province, Scott said, and British Columbians are likely to see a lot of trees and branches fall on and disrupt power lines. A tow truck tries to pull a van from a flooded street in Burnaby during an atmospheric river on Saturday. (Shane MacKichan) Buses and highways affected Drivers across the province were affected by road flooding in various locations, with DriveBC reporting several crashes and closures throughout the province. As of Saturday evening, highway alerts are in effect for the Coquihalla Highway between Merritt and Hope, as well as the Trans Canada Highway between Eagle Pass and Rogers Pass, according to Environment Canada. Coquitlam RCMP say that as of 5:15 p.m. PT on Saturday, Quarry Road is closed between Calgary Drive and MacIntyre Road due to a mudslide. Vancouver's Stanley Park Ghost Train cancelled rides on Saturday due to the rain, and there were numerous bus detours in Metro Vancouver due to pooling water on roads. TransLink announced detours on at least 12 routes across the region starting early Saturday morning. Those heading out in their vehicles can check DriveBC for the most up-to-date list of highway closures and conditions. #WestVanPolice is warning residents that the #BCStorm is causing challenges in #WestVan. Of note: Westbound and Eastbound ramps to #BCHwy1 at 21st St are closed due to flooding; pooling water and popped manholes causing issues along Marine Drive from Taylor Way to 24th Street;... pic.twitter.com/byx8a8Taor — @WestVanPoliceNo. 9 Kentucky, focused on getting better, welcomes Jackson St.President Jimmy Carter passed away at the age of 100 at his Georgia home on Sunday. The 39th president of the United States, Carter is remembered as a staunch advocate for human rights, with an enduring commitment to philanthropy and humanitarian work. WASHINGTON - Former President Jimmy Carter died at the age of 100 on Sunday. Carter served as the 39th President of the United States and was known for his enduring commitment to philanthropy and humanitarian work. Carter served one term, from 1977 to 1981. He saw some monumental successes during his time in office, such as the brokering of the Camp David accord between Egypt and Israel but his term was also plagued by the energy crisis, inflation, high interest rates and the infamous Iran hostage crisis. But even after losing his bid for re-election, Carter continued to serve the public, championing causes such as global health, democracy and human rights. Carter received many honors throughout his life. At the 2000 Democratic Convention, delegates rose to their feet in his honor. And in 2002, he was awarded the Nobel Peace Prize. READ MORE: Jimmy Carter, 39th president of the United States, dies at 100 The late former president Jimmy Carter was awarded the Nobel Peace Prize in 2002 for his decades of work seeking peaceful solutions to international conflicts, advancing democracy and human rights, and promoting economic and social development. Here's how the former president will be honored following his passing. Presidential funerals can take years to plan out and the details are usually kept secret between close family members and the U.S. Army Military District of Washington. The arrangements are not announced until after a president dies. The plans for Carter's funeral have not been announced at this time, but shortly after the news of his passing came out, President Joe Biden said he is ordering an official state funeral to be held in Washington, D.C. "To honor a great American, I will be ordering an official state funeral to be held in Washington D.C. for James Earl Carter, Jr., 39th President of the United States, 76th Governor of Georgia, Lieutenant of the United States Navy, graduate of the United States Naval Academy, and favorite son of Plains, Georgia, who gave his full life in service to God and country," Biden said in a statement. The president, former presidents and president-elect are all entitled to a state funeral, but then family decides if they actually get one, or just how involved it will be. The family will provide details of the funeral plans to the Washington Military District, which is in charge of implementing them. At this time, the Carter Center says public observances will be held in Atlanta and Washington, D.C. as well as a burial and funeral in his hometown of White Plains, Georgia. READ MORE: 'A man of faith and a man of principles:' Historian reflects on friendship with Jimmy Carter Protocol dictates that flags will be flown at half-staff for a period of 30 days after the passing of a U.S. president. The sitting president is also in charge of issuing an executive order issued authorizing the closure of federal offices and buildings for a national day of mourning. Each president’s final resting place is among the details they include in their plans. Most have chosen locations in their home states; only two presidents are buried at Arlington National Cemetery: Kennedy and William Howard Taft. What occurs in Washington, D.C. unfolds according to guidelines that date back to the mid-1800s and have been reshaped over time. They often involve funeral processions down Pennsylvania Avenue, lying in state in the U.S. Capitol Rotunda and a memorial service, usually at the Washington National Cathedral. READ MORE: What you may not know about Jimmy and Rosalynn Carter In 2015, Carter announced shattering news about his health. He candidly spoke about his battle with liver and brain cancer. "Now I feel it’s in the hands of God, who I worship, and I’ll be prepared for anything that comes," he said. Extensive treatment followed and he was declared cancer-free in December 2015. In 2019, Carter suffered several falls, one requiring hip replacement surgery. Another led to a fractured pelvis. In November of that year, he had to undergo surgery to relieve bleeding on his brain related to the falls. But Carter remained active well into his 90s, continuing to lead Sunday School classes at Maranatha Baptist Church in Plains and to help build Habitat for Humanity houses for those in need. He had been receiving at-home hospice care for nearly two years at the time of his death. The Carter Center confirmed his death, saying he died peacefully at his home in Plains, surrounded by his family. He was the longest-lived president in U.S. history. Additional details on the life and legacy of Jimmy Carter, as well as details on his services can be found on the Carter Center Tribute website . The Carter Center, FOX 5 Atlanta reporting, LiveNow reporting
Southeast Asia's Digital Revolution Kicks Off at DigiTech ASEAN & AI Connect 2024 in Bangkok 11-21-2024 10:27 PM CET | Advertising, Media Consulting, Marketing Research Press release from: IMPACT EXHIBITION MANAGEMENT CO., LTD. Bangkok, Thailand, 20 November 2024 - Southeast Asia is poised to become one of the world's top five regions for digital applications by 2025, with its digital market projected to reach US$500 billion and internet penetration surpassing 400 million users. At the forefront of this transformation is Thailand, where the digital economy is expected to contribute 30% of GDP by 2030, fueled by the country's ongoing Industry 4.0 digital transformation policies. According to the "e-Conomy SEA 2024" report, published by Google, Bain, and Temasek, reveals that Southeast Asia's digital economy is expected to reach a value of $263 billion in 2024, marking a 15% growth from the prior year. Thailand's digital economy, specifically, is estimated at around $53 billion, reflecting a 19% increase over the previous year. Alongside recent announcements of investments in technology and data centers by global tech giants such as Google, Microsoft, and NVIDIA, this development highlights Thailand's potential to become a leading hub for digital and technology businesses. DigiTech ASEAN Thailand & AI Connect 2024, hosted by the Ministry of Digital Economy and Society and the Ministry of Higher Education, Science, Research, and Innovation, is set to welcome over 6,000 Thailand and International visitors. The event will serve as a premier platform for exploring cutting-edge technology and digital solutions, fostering business partnerships, collaborations, networking opportunities, and offering valuable industry insights. Taking place at the Hall 6, IMPACT Exhibition and Convention Centre in Bangkok, Thailand from 20 to 22 November 2024, the event will feature 350+ digital brands showcasing their latest innovations across 8 key digital segments including business software, cybersecurity, e-commerce & digital marketing, data & cloud, smart solutions & IoT, 5G technology & networks, Web 3.0, and AI. The significance of DigiTech ASEAN Thailand & AI Connect 2024 is underscored by its endorsement from leading organizations such as the Digital Economy Promotion Agency (depa), the National Innovation Agency (NIA), and more than 30 government agencies and industry associations. 22 Thailand and international media partners, solidifying its status as one of the region's most anticipated technology driven event. This year's event will emphasize innovation, networking, and knowledge sharing in the rapidly evolving digital landscape, providing an unparalleled opportunity for professionals to engage with the latest trends, challenges, and business opportunities. DigiTech ASEAN Thailand & AI Connect 2024 has also secured the support of prominent sponsors, including G-able Public Company Limited, iCE Consulting Company Limited, and ICHI Media, along with other major companies like Alibaba Cloud, , Alisa AI, ADI Resourcing Co., Ltd., Clicknext Co., Ltd., Coremail Hong Kong Co., Ltd., DCSS (Thailand) Co.,Ltd., Forward System Co.,Ltd., Funcrowds Co., Ltd., HP Inc (Thailand) Ltd., myHR Corporation Limited, Net Bright Co., Ltd., PALO IT (Thailand) Co., Ltd., Protoss Technology Co., Ltd., Round Two Solutions Co., Ltd., Toppan Ecquaria Pte Ltd, True Digital Group Co, Ltd., VBix Innovation Co., Ltd. and Zoho Corporation among others. Ms. Peerayapan Pongsanarm, Assistant Director of IMPACT Exhibition Management Co., Ltd., stated that DigiTech ASEAN Thailand & AI Connect 2024 serves as a platform showcasing Thailand's potential in digital innovation and AI. This event not only supports Thailand's high-value industries but also creates new business opportunities, strengthens international cooperation, and aligns with Thailand's goal of advancing toward a sustainable, innovation-driven economy. It is anticipated that the event will attract over 6,000 participants from both Thailand and abroad. Kalaya Udomvitid, Ph.D. Executive Vice President, Organization Management National Science and Technology Development Agency (NSTDA), stated that Thailand's transition to a digital and AI-driven economy is a key mission for the NSTDA. This mission will be propelled through the 'MHESI for AI' policy, which focuses on equipping the workforce with AI knowledge and skills essential for driving the nation's digital economy. The goal is to ensure 90% of graduates possess foundational AI knowledge upon graduation and to train 30,000 AI professionals within three years. This initiative involves partnerships between higher education institutions and the private sector to provide AI training and online courses to upskill personnel, supporting Thailand's advancement as a leader in AI within the ASEAN region. Mr. Teeravut Thongpak, Deputy Secretary-General of the National Digital Economy and Society Commission, stated that Thailand is moving toward becoming a regional data hub. The Ministry of Digital Economy and Society (MDES) has been preparing robust digital infrastructure and fostering public confidence by implementing the Cloud First Policy to address the growing demands for data usage and government innovation development. This initiative aims to create a favorable environment for digital investment and data centers, paving the way for AI innovation development. Additionally, the MDES has been advancing AI development across multiple dimensions, such as introducing the Thailand AI Ethics Guideline, which provides a framework for researchers, designers, developers, and AI service providers to adopt ethical AI practices. The ministry has also collaborated with the Ministry of Higher Education, Science, Research, and Innovation (MHESI) to develop and implement the National AI Action Plan (2022-2027) to drive Thailand's development. This includes cultivating AI talent, establishing infrastructure to support AI development, and promoting AI innovation and applications to position Thailand as a regional leader in technology. DigiTech ASEAN Thailand and AI Connect 2024 event happening at Hall 6, IMPACT Exhibition and Convention Centre, Bangkok, Thailand from 20th to 22nd November 2024. For more information, please visit: www.digitechasean.com For media enquiry, please contact: Ms. Surerat Kraimanee (Star) Marketing Manager IMPACT EXHIBITION MANAGEMENT CO., LTD. 10th Fl., Bangkok Land Building 47/569-576 Popular 3 Road, Banmai Sub-district, Pakkred District, Nonthaburi 11120 GREATER BANGKOK, THAILAND. Office : +66 (0)2833-6336 Mobile : +6696-515-5667 E-mail : sureratk@impact.co.th Website : www.digitechasean.com About the organiser IMPACT Exhibition Management Co. Ltd. The Exhibition Organizing Department of IMPACT Exhibition Management Co., Ltd is Thailand's leading exhibition organizer. IMPACT's Exhibition Organizing Department organizes and manages a comprehensive portfolio of professional trade and public exhibitions, conferences, meetings, and training, working hand-in-hand with international trade associations, organizers and corporations across a broad spectrum of industries. IMPACT EXHIBITION MANAGEMENT CO., LTD. 10th Fl., Bangkok Land Building 47/569-576 Popular 3 Road, Banmai Sub-district, Pakkred District, Nonthaburi 11120 GREATER BANGKOK, THAILAND. IMPACT Arena and IMPACT Exhibition and Convention Center are an integrated venue offering a diversity of events with versatile facilities and services. IMPACT is one of Asia's largest and most modern exhibition and convention centers with a usable indoor space over 140,000 square meters, comprising a variety of venue sizes to meet all kinds of events requirement. This release was published on openPR.U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%.
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Anoto Announces Outcome Of Rights IssueOne of the country’s largest health insurers reversed a change in policy Thursday after widespread outcry, saying it would not tie payments in some states to the length of time a patient went under anesthesia. Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted from “significant widespread misinformation” about the policy. “To be clear, it never was and never will be the policy of Anthem Blue Cross Blue Shield to not pay for medically necessary anesthesia services,” the statement said. “The proposed update to the policy was only designed to clarify the appropriateness of anesthesia consistent with well-established clinical guidelines.” Anthem Blue Cross Blue Shield would have used "physician work time values," which is published by the Centers for Medicare and Medicaid Services, as the metric for anesthesia limits; maternity patients and patients under the age of 22 were exempt. But Dr. Jonathan Gal, economics committee chair of the American Society for Anesthesiologists, said it's unclear how CMS derives those values. In mid-November, the American Society for Anesthesiologists called on Anthem to “reverse the proposal immediately,” saying in a news release that the policy would have taken effect in February in New York, Connecticut and Missouri. It's not clear how many states in total would have been affected, as notices also were posted in Virginia and Colorado . People across the country registered their concerns and complaints on social media, and encouraged people in affected states to call their legislators. Some people noted that the policy could prevent patients from getting overcharged. Gal said the policy change would have been unprecedented, ignored the “nuanced, unpredictable human element” of surgery and was a clear “money grab.” “It’s incomprehensible how a health insurance company could so blatantly continue to prioritize their profits over safe patient care,” he said. "If Anthem is, in fact, rescinding the policy, we’re delighted that they came to their senses.” Prior to Anthem's announcement Thursday, Connecticut comptroller Sean Scanlon said the “concerning” policy wouldn't affect the state after conversations with the insurance company. And New York Gov. Kathy Hochul said in an emailed statement Thursday that her office had also successfully intervened. The insurance giant’s policy change came one day after the CEO of UnitedHealthcare , another major insurance company, was shot and killed in New York City.
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