US retail giant Costco to set up global capability centre in India, to employ 1000 people, sources say
The centre will initially employ 1,000 people and scale up eventually, sources said.
Costco did not immediately respond to Reuters request for a comment.
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Reuters
14 minutes ago
- Reuters
HCA lifts 2025 profit forecast, flags insurance policy uncertainty
July 25 (Reuters) - HCA Healthcare (HCA.N), opens new tab lifted its 2025 profit forecast but said it cannot determine how looming changes to insurance plans under Medicaid and Obamacare will impact 2026 earnings, sending the hospital operator's shares down 2% on Friday. Some COVID-era subsidies under Obamacare are set to lapse in 2026. That would impact patient coverage, lead to a spike in insurance premiums and cause a drop in enrollment numbers, leaving hospital operators such as HCA to foot a heftier bill for compensated care. "We continue to advocate strongly for their extension, but at this point we do not know what the outcome will be," CEO Samuel Hazen said during a call with analysts. Hazen said the company is working on a cost efficiency initiative to offset any impact from the subsidy expiry and other government actions such as Medicaid policy changes and tariffs. Still, the hospital chain operator raised its 2025 profit forecast to between $25.50 and $27 per share, from a range of $24.05 to $25.85 earlier. The latest forecast includes the expected impact from the Trump administration's current and future policies, including potential tariffs on imports. It also posted upbeat second-quarter results. Quarterly revenue rose 6.4% to $18.61 billion, compared with analysts' estimates of $18.50 billion, according to data compiled by LSEG. Adjusted profit came in at $6.84 per share, beating estimates of $6.25. However, HCA's same-facility inpatient and outpatient surgeries decreased by 0.3% and 0.6%, respectively, in the quarter ended June 30. Investors appeared concerned about upcoming regulatory changes that could lead to lower medical membership on the Obamacare and Medicaid plans, said Morningstar analyst Julie Utterback. "Share reaction may reflect that profit growth could slow materially for caregivers like HCA in the next couple of years." Utterback said.
Reuters
41 minutes ago
- Reuters
US lifts some Myanmar sanctions after general asked Trump for relief
WASHINGTON, July 24 (Reuters) - The United States lifted sanctions designations on several allies of Myanmar's ruling generals on Thursday, two weeks after the head of the ruling junta praised President Donald Trump and called for an easing of sanctions in a letter responding to a tariff warning. Human Rights Watch called the move "extremely worrying" and said it suggested a major shift was underway in U.S. policy towards Myanmar's military, which overthrew a democratically elected government in 2021 and has been implicated in crimes against humanity and genocide. The U.S. Treasury Department did not give a reason for the move, but Deputy Secretary Michael Faulkender said in a statement: "Anyone suggesting these sanctions were lifted for an ulterior motive is uninformed and peddling a conspiracy theory driven by hatred for President Trump." "Individuals, including in this case, are regularly added and removed from the Specially Designated Nationals and Blocked Persons List (SDN List) in the ordinary course of business," he said in a statement. A notice from the U.S. Treasury Department said KT Services & Logistics and its founder, Jonathan Myo Kyaw Thaung; the MCM Group and its owner Aung Hlaing Oo; and Suntac Technologies and its owner Sit Taing Aung; and another individual, Tin Latt Min, were being removed from the U.S. sanctions list. KT Services & Logistics and Jonathan Myo Kyaw Thaung were added to the sanctions list in January 2022 under the Biden administration in a step timed to mark the first anniversary of the military seizure of power in Myanmar that plunged the country into chaos. Sit Taing Aung and Aung Hlaing Oo were placed on the sanctions list the same year for operating in Myanmar's defence sector. Tin Latt Min, identified as another close associate of the military rulers, was placed on the list in 2024 to mark the third anniversary of the coup. The White House did not respond to a request for comment. On July 11, Myanmar's ruling military general, Min Aung Hlaing, asked Trump in a letter for a reduction in the 40% tariff rate on his country's exports to the U.S. and said he was ready to send a negotiating team to Washington if needed. "The senior general acknowledged the president's strong leadership in guiding his country towards national prosperity with the spirit of a true patriot," state media said at the time. In his response to a letter from Trump notifying Myanmar of the tariff to take effect on August 1, Min Aung Hlaing proposed a reduced rate of 10% to 20%, with Myanmar slashing its levy on U.S. imports to a range of zero to 10%. Min Aung Hlaing also asked Trump "to reconsider easing and lifting the economic sanctions imposed on Myanmar, as they hinder the shared interests and prosperity of both countries and their peoples." Myanmar is one of the world's main sources of sought-after rare earth minerals used in high-tech defense and consumer applications. Securing supplies of the minerals is a major focus for the Trump administration in its strategic competition with China, which is responsible for 90% of rare earth processing capacity. Most of Myanmar's rare earth mines are in areas controlled by the Kachin Independence Army (KIA), an ethnic group fighting the junta, and are processed in China. Representative Ami Bera, the top Democrat on the House Foreign Affairs Asia subcommittee in a statement to Reuters called the decision to lift sanctions against the individuals "a bad idea" that "goes against our values of freedom and democracy.' John Sifton, Asia advocacy director of Human Rights Watch, called the U.S. move "shocking" and its motivation unclear. "The action suggests a major shift is underway in U.S. policy, which had centered on punitive action against Myanmar's military regime, which only four years ago carried out a coup d'etat against a democratically elected government and is implicated in crimes against humanity and genocide," he said in an emailed statement.
Daily Mail
43 minutes ago
- Daily Mail
Revealed: The eye-watering six-figure weekly sum Alexander Isak could pick up if he goes to Saudi Arabia instead of Liverpool
Alexander Isak has been told he can earn a staggering £600,000 a week net if he signs for Al Hilal in Saudi Arabia. Isak has not travelled with Newcastle on their pre-season tour to Asia and, as revealed by Mail Sport on Thursday, he has informed the club's hierarchy he wants to explore a move away from Tyneside. Premier League Liverpool are interested in adding the 25-year-old Sweden international to Arne Slot 's battery of forward options, despite spending £79million on Hugo Ekitike from Eintracht Frankfurt. Newcastle are keen to negotiate a new deal with Isak who has scored 62 goals in 109 appearances since his arrival from Real Sociedad and three years to run on his current contract. But the greatest riches are on offer in the Saudi Pro League and can eclipse what either Liverpool or Newcastle could afford to pay Isak. Al Hilal have made told his advisors they are prepared to strike a deal worth £600,000 a week net. Liverpool, though, are front-runners to sign the forward in a summer of mega-spending for the Reds On a long-term contract it is a life-changing sum of money on the table for the Swede. The complication at the heart of the issue is that Newcastle and Al Hilal are both owned by PIF, Saudi Arabia's sovereign wealth fund.
