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UnitedHealth expects strong profits for 2023 as COVID costs drop By Reuters

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© Reuters. The UnitedHealth Group logo appears on the side of one of their office buildings in Santa Ana, California, US, April 13, 2020. REUTERS/Mike Blake

By Manas Mishra

(Reuters) – UnitedHealth Group Inc expects to meet Wall Street’s higher forecast for 2023 earnings after the health insurer raised its annual profit forecast for the third time on Friday, helped by lower COVID costs.

An industry leader and first health insurer to report third-quarter earnings set a positive tone as it increased its 2022 forecast and exceeded its quarterly earnings, sending its shares up nearly 3% and lifting competitors including Humana you (NYSE 🙂 and Cigna company (NYSE:).

UnitedHealth (NYSE:) says the direct impact of COVID-19 – which has led to fluctuations in medical costs for health insurers – is expected to ease next year, while recovery in non-urgent actions may be slowed by inflation and labor shortages.

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“I think it’s getting a lot less about COVID. There’s now I think there’s a mix of maybe a little bit of the impact of COVID in the system, and the cost of living impacts,” CEO Andrew Witty said.

The company says it has not yet seen any impact of the recession on its businesses that provide employer-backed insurance plans, and it expects strength in business this year as well as in government-backed health plans.

Witty said analysts’ estimates of 2023 earnings are currently at the upper end of expectations UnitedHealth expects to release in the coming weeks. They expect adjusted earnings of $24.85 per share, according to Refinitiv IBES data.

The company expects adjusted earnings for 2022 of between $21.85 and $22.05 per share, compared to $21.40 to $21.90 in the previous forecast.

In the third quarter ended September 30, a lower-than-expected Medicare ratio helped the company deliver higher-than-expected earnings.

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The ratio — the ratio of insurance premiums versus claims payments — improved to 81% from 83% last year. Analysts expected 82.4%.

Excluding items, UnitedHealth earned $5.79 per share, beating estimates of $5.42.

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Taco Bell has an answer for Chipotle’s most beloved menu item

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Chipotle (CMG) – Get a free report It quietly grabbed the number one spot among Mexican fast food chains using a completely different recipe (so to speak) than its main competitor Yum Brands. (Yum) – Get a free report Taco Bell. Basically, the newer player in the quick service/fast food/quick casual space has decided that prices aren’t going to be a driving factor for it. Instead, Chipotle has built its menu around the idea of ​​using more natural food than well-sourced food.

This was a successful plan until the company was created. The Coli scandal dates back in 2016 as this type of chain fell victim to its own marketing. Fresh foods come with higher risks, and when people get sick at Chipotle, a lot of other fast food chains point to less fresh, processed foods as a safe option.



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Ben & Jerry’s does not have authority to sue over sale of Israeli ice cream By Reuters

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© Reuters. FILE PHOTO: Ben & Jerry’s, a brand of Unilever, is displayed in a store in Manhattan, New York City, US, March 24, 2022. REUTERS/Andrew Kelly

Written by Jessica DiNapoli and Jonathan Stempel

NEW YORK (Reuters) – Unilever (NYSE: plc) has asked a U.S. judge to dismiss a Ben & Jerry’s lawsuit over the sale of the Israeli ice cream maker, saying the subsidiary’s “insistence on taking sides” in the conflict Palestinian Israeli gives its board of directors no authority to stop or even sue the sale.

In a statement Friday afternoon in Manhattan federal court, Unilever said the Ben & Jerry’s board “is no ordinary board.”

In the filings, she said the board has some responsibility to maintain its “social mission” and protect the brand under a shareholder agreement from 2000, when Unilever’s bought Ben & Jerry’s. But Unilever said the board could not sue.

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Unilever also said that the board’s “recent insistence on taking sides in the Israeli-Palestinian conflict has created an intolerable situation” for both sides.

Ben & Jerry’s could not immediately be reached for comment.

The maker of Cherry Garcia and Chubby Hubby ice creams sued Unilever in July to prevent the sale of its businesses in Israel and the occupied West Bank to local licensee Avi Zenger.

Ben & Jerry’s products have been on sale in Israel for more than three decades, but the company said last year that West Bank sales were not in line with its values.

In August, a judge denied Ben & Jerry’s bid to stop those sales outright.

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Last month, Ben & Jerry’s board of directors gave up selling Zinger ice cream, saying its products were “not to be confused with products” made by Ben & Jerry’s.

“Selling products bearing the Ben & Jerry’s insignia in the Occupied Palestinian Territories is contrary to our values,” the council said.

In its motion to dismiss the lawsuit, Unilever also said that Ben & Jerry’s had waited too long to claim that its trademark rights were “taken away” more than 20 years ago, and that the accusations behind the claim are a public matter.

(This story has been reworded to fix a typo in paragraph 1)

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Twitter users are running Musk Over Kanye West

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Even Elon Musk has his limits.

Musk, Tesla (TSLA) – Get a free report The CEO, Twitter’s latest owner and self-described free-spirited free-lancer, has confirmed the microblogging site to be “an actual town square” ever since he walked through the front door with sink in hand.

“It’s mad!” The richest man in the world chirp On November 25 “I’m just fighting for free speech in America.”

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In his quest, Musk recently Welcome back Donald Trump, ending a 22-month ban on the former Republican president.



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