Companies can set such high prices because of a quirk in Medicare pricing rules, industry experts said. For the first six months of a new bandage product’s life, Medicare will set the reimbursement rate at whatever price a company chooses. After that, the agency adjusts the reimbursement to reflect the actual price paid by doctors…
The Trump administration has turned campaign promises to target universities into devastating action, pulling hundreds of millions in federal funds from Columbia University and the University of Pennsylvania. On Monday, the Trump administration went after Harvard, the world’s wealthiest university, announcing that it would review about $9 billion in contracts and multiyear grants. It accused…
The Trump administration said on Monday that it was reviewing roughly $9 billion in federal grants and contracts awarded to Harvard, accusing the school of allowing antisemitism to run unchecked on its campus. In a statement on Monday, the administration said it was examining about $256 million in contracts, as well as another $8.7 billion…
The Department of Health and Human Services has abruptly canceled more than $12 billion in federal grants to states that were being used for tracking infectious diseases, mental health services, addiction treatment and other urgent health issues. The cuts are likely to further hamstring state health departments, which are already underfunded and struggling with competing…
Within the Trump administration’s Defense Department, Elon Musk’s SpaceX rocketry is being trumpeted as the nifty new way the Pentagon could move military cargo rapidly around the globe. In the Commerce Department, SpaceX’s Starlink satellite internet service will now be fully eligible for the federal government’s $42 billion rural broadband push, after being largely shut…
TOKYO — During the early innings of a nighttime exhibition between the Los Angeles Dodgers and Yomiuri Giants, Nori Kawana walked through the concourse of the Tokyo Dome in disbelief. As the head of Fanatics’ East Asia operation, Kawana leads MLB’s merchandising in Japan, and the day had already set his company’s sales record in…
The interim govt is set to introduce a special law by next week aimed at accelerating efforts to recover billions of dollars allegedly siphoned off from Bangladesh to foreign countries. In the absence of aparliament session, the law will be enacted through an ordinance, said chief adviser Yunus Muhammad’s press secretary Shafiqul Alam.Referring to govt’s…
The United States is cutting almost all its spending on aid. The biggest loser will be Africa. For years, sub-Saharan Africa has received more U.S. aid money than any other region — except for 2022 and 2023, when the United States came to Ukraine’s aid after the Russian invasion. In 2024, $12.7 billion of $41…
US President Donald Trump said he expects Elon Musk to find billions of dollars of fraud and abuse at the Pentagon during an audit that the billionaire will lead. “I’m going to tell him very soon, like maybe in 24 hours, to go check the Department of Education. Then I’m going to go, go to…
As European automakers brace for a possible trade war waged by President Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers…