Apr 17, 2023

Ryan Reynolds announces investment in Canadian fintech company Nuvei Tightest Supply in 18 Years Boosts Copper Ahead of Industry Show TSX today: Index edges up in late-morning trading as tech shares lift higher Tin Jumps 11% as Major Mining Hub in Myanmar Plans Crackdown Hedge Funds Go All In on Dollar for First Time in Over a Year Toronto Exchange Fights to Keep Stock Listings in Canada Over US McCarthy Pledges Vote on US Debt Limit — With Spending Cuts Financial stocks to buy outside the banking sector: portfolio manager Royal Mail Owner’s Stock Jumps After Deal Reached With Union Bond Buyers See ‘Best Bang for Buck’ in EM as Hiking Cycles End Blackstone Is Using AI to Control Diabetes and Slash Spending on Drugs China to Be Top World Growth Source in Next Five Years, IMF Says LVMH Sells Debt for First Time Since 2020 After Stellar Results These Are the Key Foreign Power Brokers in the Sudan Conflict Mass ESG Fund Downgrades That Rocked Market May Be Reversed Ukraine Latest: Putin, Chinese Minister Highlight Military Ties South Africa’s Support for Eskom Nears Half a Trillion Rand Ryan Reynolds Takes Stake in Canadian Payments Firm Nuvei Billionaire PokerStars Founder Nears Deal for Hakkasan Owner 'Ask a lot of questions' before deciding what to do with your tax refund: experts How claiming income from side gigs can lower your tax bill As Canadians miss out on benefits, Ottawa promises automatic tax filing is on the way Here's a list February inflation rates for Canadian provinces Is your retirement portfolio ready for what's to come? Women more likely to bag $100,000 jobs despite fewer applications Quitting your job? Experts say it's best to have a plan before you do Household debt-to-income ratio edges lower as interest payments expand Canadians making fewer trips to the grocery store as inflation pinches: RBC report With airfares rising, here's how to find a travel deal this year Young Canadians keep up pandemic-inspired DIY projects to save money Here are the most risky types of scams in Canada: Report Review your rights before signing paperwork during a layoff: Employment lawyers More than half of Canadians say current economic conditions have impacted retirement plans: Survey Majority of Canadians feel like they're being targeted more than ever by financial fraud: Survey 'Don't be afraid to ask': Tips for young workers in salary negotiations Canadians want to retire by 61, amid financial concerns: CIBC poll Tax credits and deductions for Canadians to consider 5 RRSP season resolutions for a comfortable retirement: Dale Jackson US Homebuilder Sentiment Increases for a Fourth-Straight Month Investor Exodus Sees Turkish Finance Hub Open Half Empty How a Surge of Sargassum Seaweed Is Changing the Beach Vacation Bank Earnings to Give Further Insight to Recession Question Europe’s Blue-Chip Index Eyes Highest Level Since 2007 Greece’s Summer Season Has Already Begun. Here’s Where to Stay Melbourne Becomes Australia’s Biggest City After Boundary Tweak Lithium in China May Be Bottoming as Low Margins Hit Producers Singapore Home Sales Climb to Six-Month High on Robust Demand China Property Crash Would Cap Growth at 3%: Bloomberg Economics What to Watch in China’s GDP Data as Economy Rebounds China Searches for Clearer Signs of Economic Momentum: Eco Week A Brutal Week for Private Lenders Ends With Big Banks Scoring Wins Bond Traders to Scour Bank Results for Signs of Increased Stress China Home Market Stabilizes as Prices Rise for Second Month Increase in US Bank Loans and Deposits Signal Some Stability Wells Fargo Warns of More Office-Market Stress on the Horizon Will homes ever be affordable again in the Greater Toronto Area? Billionaire Brothers Rework Private Credit Bet on Los Angeles Real Estate Project Lagarde Says Fragmenting World Economy Is Risk for Central Banks Barclays Has Questions to Answer on Staley, Proxy Firm ISS Says Tightest Supply in 18 Years Boosts Copper Ahead of Industry Show Bank of England Official Says Stablecoin Use May Need Limits Ottawa to support Ericsson Canada on $470M project to develop faster networks Tin Jumps 11% as Major Mining Hub in Myanmar Plans Crackdown Hedge Funds Go All In on Dollar for First Time in Over a Year Toronto Exchange Fights to Keep Stock Listings in Canada Over US SpaceX Postpones Launch of Starship Rocket on Pressure Issue Royal Mail Owner’s Stock Jumps After Deal Reached With Union Blackstone Is Using AI to Control Diabetes and Slash Spending on Drugs Climate Risk Consultants Need More Oversight, Law Professor Says South Africa Backs Law Allowing Individuals to Run for President LVMH Sells Debt for First Time Since 2020 After Stellar Results Dutch Say Russia, China Are Biggest Threats to National Security Ben & Jerry’s Employees Move to Unionize Flagship Vermont Store These Are the Key Foreign Power Brokers in the Sudan Conflict Kenya Airport Runway Closed After Singapore Cargo Plane Incident Mass ESG Fund Downgrades That Rocked Market May Be Reversed Tin Jumps 11% as Major Mining Hub in Myanmar Plans Crackdown Hedge Funds Go All In on Dollar for First Time in Over a Year Climate Risk Consultants Need More Oversight, Law Professor Says These Are the Key Foreign Power Brokers in the Sudan Conflict Ukraine Latest: Putin, Chinese Minister Highlight Military Ties South Africa’s Support for Eskom Nears Half a Trillion Rand Trudeau Loses Trust on Economy After Run-Up in Pandemic Spending Slovakia Is Latest EU Nation to Ban Ukraine Grain Amid Glut WRI Wins $100 Million Funding for African Forests After Bezos' Commitment Shale Driller Crescent Point Works to Shed ‘Deal Junkie’ Image Only 10 Electric Vehicles Qualify for Full $7,500 US Tax Credit Modi Adviser Says India Will Push Back on West Monpoly Over ESG Aims Exxon Units Declare Force Majeure on Oil Liftings in Nigeria Oil dips after four weekly gains on demand headwinds and dollar Insect Farming Startup Raises $175 Million for Food Expansion Aviation Workers’ Strike Disrupts Domestic Flights in Nigeria Five Key Charts to Watch in Global Commodity Markets This Week Brazil Analysts Cut Interest Rate Forecasts for First Time Since 2021 as Lula Prepares Fiscal Plan Russian Oil Exports Rebound to Reignite Doubts Over Output Cut Young Canadians faring well, earning more in today's economy: Desjardins Pot shop robberies spur push to end restrictions on window displays Amid high phone bills, telecom experts call for structural change, regulatory reform TSX recap: Index finishes slightly higher amid strength in battery metals Statistics Canada says manufacturing sales down 3.6% in February The Daily Chase: Loblaw details $2B spending plan; Teck's largest shareholder supports Glencore deal It's moving season — here are some ways to cut down costs ​Home prices slowly rise as buyers return to market: Royal LePage The Daily Chase: Corus posts revenue decline in Q2; Teck Resources rejects Glencore bid Rise in 'illegal' taxis puts Montreal passengers at risk, airport authority warns RBC biggest fossil fuel funder globally in 2022 at US$42B: report ​Bank of Canada rate pause could force landlords to sell properties: Experts Bank of Canada between 'a rock and hard place': Strategist ​BoC more likely to raise rates instead of lowering them: John Manley What mortgage owners need to know about the Bank of Canada’s second rate pause READ: Bank of Canada's rate announcement statement The Daily Chase: Awaiting Bank of Canada rate decision; MTY Food Group beats analyst expectations Grocery's power imbalance has politicians, shoppers questioning rising prices Full impact of past Bank of Canada interest rate hikes not yet seen: expert South Africa Backs Law Allowing Individuals to Run for President Dutch Say Russia, China Are Biggest Threats to National Security These Are the Key Foreign Power Brokers in the Sudan Conflict Ukraine Latest: Putin, Chinese Minister Highlight Military Ties The GOP Is Making It Harder for College Students to Vote Only 10 Electric Vehicles Qualify for Full $7,500 US Tax Credit Fox News Defamation Trial Delayed on Eve of Opening Arguments Investor Exodus Sees Turkish Finance Hub Open Half Empty Report Reveals Bullying, Sexual Harassment at Dutch Parliament Brazil Analysts Cut Interest Rate Forecasts for First Time Since 2021 as Lula Prepares Fiscal Plan Russian Oil Exports Rebound to Reignite Doubts Over Output Cut Pentagon Sounds Alarm Over Biden Plan for Offshore Wind Sites Sunak Says ‘Anti-Maths Mindset’ Is Damaging Britain’s Economy Nuclear Powers Pledge to Push Putin Out of Uranium Markets Who Is the Gangster-Turned-Politician Killed on Live Indian TV? Tax Day Cash Will Indicate Just How Close the US Is to Default Turkey Gas Field Opening Sets Stage for Pre-Election Energy Giveaway Turkish Lira Traders Hedge Against Turbulence as Election Nears Fund Sets Clash With Italy Over Meloni Appointments at Enel SpaceX Postpones Launch of Starship Rocket on Pressure Issue Blackstone Is Using AI to Control Diabetes and Slash Spending on Drugs Dutch Say Russia, China Are Biggest Threats to National Security SpaceX’s Massive Rocket Nears Liftoff: Starship Launch Update Ryan Reynolds Takes Stake in Canadian Payments Firm Nuvei Tesla Reports Another Fatal US Crash Involving Automated Driving Slovakia Is Latest EU Nation to Ban Ukraine Grain Amid Glut Wall Street Tells New High School Graduates to Pick Tech Career Over Finance What the Internet Is Talking About Today Only 10 Electric Vehicles Qualify for Full $7,500 US Tax Credit Rishi Sunak’s Wife, Akshata Murty, Loses £49 Million From Infosys Woes in a Day Google ‘Racing’ to Build New AI Tools for Search, NYT Says BOE Official Says Digital Pound Could Work in Wholesale Markets Apple’s Huge Buybacks Matter as Much to Investors as iPhones and Macs Volkswagen Unveils ID.7 EV Sedan in Fight for Market Share in China ChatGPT can decode fedspeak, predict stock moves from headlines To Get to Mars, SpaceX First Needs Starship to Launch Drug and Game Makers Lead M&A’s Latest $20 Billion Bounce Worried about Huge Power Price Swings in Europe? Rent a Trader The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Bitcoin’s Resurgence Spurs Fresh Push to Launch Leveraged ETFs Texas ETF Bets Its State-Focused Fund Can Succeed Where Others Failed DoubleLine Says It Is ‘Perfect Time’ for New Real Estate ETF Investors Pull Cash From Oil Despite OPEC+ Cuts as Demand Fears Linger BOJ’s Kuroda Bows Out After Decade of Shock and Awe Easing The Biggest ETF Launch Ever Is Just a $2 Billion ESG Fund Reshuffle A $15 Billion Swap-Based ETF Exposes the Latest ESG Headache Gundlach’s DoubleLine Launches Real Estate and Mortgage ETFs at Tricky Time Stock ETFs See Lowest Quarterly Inflow Since Start of Pandemic Worst-Performing Funds of 2023 Are Drawing Huge Amounts of Cash BlackRock Looks to Offer 'Buffer ETFs' That Aim to Limit Investors' Losses AI and Robotics ETFs Are Hotter for Traders Than Crypto in 2023 Wave of ETF Closures Relegates Once-Trendy Growth Themes to Fads Beijing’s Micron Probe Spurs $12 Billion Rally in China Chip Stocks Bitcoin’s Stealth Rally Puts It Atop the Quarterly Scoreboard Once Again Schwab ETF Logs $4.6 Billion Inflow Amid Quarter-End Shuffle Biotech Stocks Languish After Dismal Quarter of Clinical Results This Week in China: Stock Market Starts to Believe in Recovery Levered Bitcoin ETF Makes Long-Shot Bid at SEC as Crypto Rallies BCE CEO says tech hiring & donations continue despite tough economy Cenovus CEO Pourbaix to step down, become executive chair; Jon McKenzie to be new CEO Manulife CEO on diversification, insurance demand and digital transformation Decision on new Suncor CEO expected 'very soon' Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Reed Hastings explains why he's stepping down as Netflix CEO in blog post Bankman-Fried says in court that he's ready for U.S. extradition SBF sent back to Bahamian jail after catching lawyer off guard with U.S. extradition plan Disney's Iger returns to reckon with his own 15-year Legacy Women making small gains, but still troublingly under-represented in the C-suite Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Dominic Barton on Canada-China relations, future at Rio Tinto 'We’re serving Canadians better' following the pandemic: McKesson Canada CEO Rebecca McKillican World's richest family loses US$11.4B in Walmart rout 'Fine balance': Rania Llewellyn on fitting her long-term inclusion goals into Laurentian's revamp First female bank CEO in Canada leads with younger self in mind ​Company holiday parties are making a comeback, but many employers have a plan B Elon Musk and Jeff Bezos now worth almost half a trillion dollars BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. John Tozzi, Bloomberg News Signage outside the Blackstone headquarters in New York, U.S., on Tuesday, Jan. 25, 2022. Blackstone Inc. is scheduled to release earnings figures on January 27. , Bloomberg (Bloomberg) -- Blackstone Inc. is trying to curb rising employee health costs with an AI-powered individualized approach to diabetes to reduce people’s reliance on costly new drugs. Early results are promising. The private equity giant is testing a program from startup Twin Health with workers across 14 of its portfolio companies. The app is designed to help diabetics rely less on expensive drugs to lose weight and control their blood sugar. Patients with uncontrolled diabetes often move from older, lower-priced drugs onto newer pricey treatments made by Novo Nordisk A/S and Eli Lilly & Co. that can cost around $10,000 a year. To help do this, Twin Health uses artificial intelligence and machine learning to analyze data from glucose monitors, activity trackers and surveys. The result is instant, personalized advice for diet, exercise and other activities that takes into account how users are feeling, what they’ve eaten or where they are. If users are able to get their blood sugar under control with these behavior changes, they can feasibly avoid higher-priced drugs. Medication costs fell by half for 160 people enrolled at least three months in the program, including a roughly 90% drop in spending on drugs like Novo’s Ozempic, Blackstone said. After two months, people in the program lost an average of 12 pounds. Growing Market Drugs like Ozempic are being repurposed for weight loss and are expected to cost the medical system billions of dollars if they’re widely prescribed for weight management. Morgan Stanley Research analysts estimate spending on obesity drugs could reach $54 billion by 2030. As diabetes treatments, these same drugs — Ozempic and Lilly’s Trulicity and Mounjaro — are already pushing up costs for employers like Blackstone. These medications control blood sugar and come with the long sought after benefit of reducing patients’ body weight. Blackstone is testing the Twin Health app with just 14 of its companies and estimates they will save hundreds of thousands of dollars a year in drug costs for the people signed up so far. If more workers join, savings could be far greater across its portfolio of 122 businesses. “We’ve never thrown the full weight of our entire team behind an effort like this,” said Andreas Mang, chief executive officer of Blackstone’s Equity Healthcare division, which works with portfolio companies to improve health benefits. Blackstone has no financial interest in Twin Health. Type 2 diabetes, the most common form of the illness, occurs when the body doesn’t respond properly to insulin, often leading to chronic high blood sugar levels that are linked to heart, kidney and eye complications. Affecting about 1 in 10 Americans, it’s among the top drivers of US health spending with costs of more than $300 billion a year. ‘Micro Actions’ For years employers have been experimenting with programs from companies like Livongo Health Inc., Omada Health Inc. and Virta Health Corp. aimed at promoting lifestyle changes to improve health outcomes. While some interventions have had promising results, few have been shown to improve patients’ health over the long term. The problem is that most add-ons to employer health plans struggle to get people engaged, Mang said. Twin Health’s app recommends “micro actions, little things that people can do in their daily routine that are very specific to them, that day, that moment,” said Lisa Shah, Twin Health’s chief medical officer. “If you’re on an eight-hour plane ride, you’re not going to be taking 10,000 steps that day. So you spend most of it standing in the plane.” Twin Health users get health coaching and supervision from clinicians with the goal of getting people to control their blood sugar without drugs. It can be done, said Anne Peters, a professor of clinical medicine at University of Southern California – the hard part is making it stick. “Almost every single program shows that you can make people better for six months,” says Peters, who has consulted for companies on diabetes programs but not for Twin Health. “The question is, how do you make it persist for years and years?” Blackstone believes Twin Health is different, partly because it only gets paid if it shows results like helping people lower their blood sugar. The firm started rolling out the program last June. About 15% of the target population at those companies signed up — better adoption rates than employer-sponsored health programs typically see, Mang said. Workers don’t get financial incentives to join. Diabetes is one of the top three most expensive conditions each year at Blackstone portfolio company Medline Industries. More than a third of the roughly 90 people at the company who have been on the Twin Health program for at least two months have been able to go off high-cost diabetes medications, said Lori Buckley, Medline’s vice president of HR for benefits. She said some employees have called the program “life changing.” Founded in Mountainview, California in 2018, Twin Health has dozens of other employer clients and and recently signed up Berkshire Hathaway-owned insurer Geico. ©2023 Bloomberg L.P.