UnitedHealth says it is under a federal investigation and cooperating

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MINNETONKA, Minn. (AP) — Shares of UnitedHealth Group dove early Thursday after the health care giant said it was under a Department of Justice investigation.

The company said it has started complying with both criminal and civil requests from federal investigators and it was working cooperatively with them.

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“(UnitedHealth) has a long record of responsible conduct and effective compliance,” the company said in a Securities and Exchange Commission filing.

Earlier this year, The Wall Street Journal said federal officials had launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage, or MA, plans. Those are privately run versions of the government’s Medicare coverage program mostly for people ages 65 and over.

The company said Thursday that it reached out to the justice department “after reviewing media reports about investigations into certain aspects of the company’s participation in the Medicare program.”

Company shares were down nearly 4%, or $11.51, to $281.12 before markets opened Thursday.

US applications for jobless benefits fall for sixth straight week, remain at historically low level

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By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — The number of Americans filing for jobless aid fell for the sixth straight week, hitting the lowest level since mid-April.

The Labor Department reported Thursday that jobless claims for the week ending July 19 fell by 4,000 to 217,000. That’s fewer than the 227,000 new applications analysts were expecting.

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Applications for unemployment aid are viewed as representative of layoffs.

Earlier in July, the Labor Department reported that U.S. employers added a surprising 147,000 jobs in June, adding to evidence that the American labor market continues to show resilience despite uncertainty over President Donald Trump’s economic policies. The job gains were much more than expected and the unemployment rate ticked down 4.1% from 4.2% in May.

Though the job market is broadly healthy by historical standards, some weakness has surfaced as employers contend with fallout from Trump’s policies, especially his aggressive tariffs, which raise prices for businesses and consumers. Most economists believe the import duties make the economy less efficient by reducing competition. They also invite retaliatory tariffs from other countries, hurting U.S. exporters and potentially driving businesses to freeze hiring or cut staff.

The deadline on most of Trump’s stiff proposed taxes on imports were extended again until Aug. 1. Unless Trump reaches deals with countries to lower the tariffs, economists fear they could act as a drag on the economy and trigger another bout of inflation.

Companies that have announced job cuts this year include Procter & Gamble, Workday, Dow, CNN, Starbucks, Southwest Airlines, Microsoft, Google and Facebook parent company Meta.

The Labor Department’s report Thursday showed that the four-week average of claims, which evens out some of the weekly volatility, declined by 5,000 to 224,500.

The total number of Americans collecting unemployment benefits for the week of July 12 remained stable, rising by just 4,000 to 1.96 million.

Trump will visit Federal Reserve in escalation of campaign to pressure Powell to cut interest rates

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By CHRIS MEGERIAN, Associated Press

WASHINGTON (AP) — President Donald Trump plans to step foot in the Federal Reserve on Thursday as his allies scrutinize its expensive building renovations, a highly personal and confrontational escalation of his campaign to pressure the central bank to slash interest rates.

Trump administration officials have used concerns about the building overhaul to cast doubt on Fed Chairman Jerome Powell’s decision making. They were scheduled to inspect the site on Thursday, and the White House announced late Wednesday that the Republican president would also be visiting.

FILE – The sculpture of an eagle looks out from behind protective construction wrapping on the facade as the Federal Reserve Board Building undergoes both interior and exterior renovations, in Washington, Monday, Oct. 23, 2023. (AP Photo/J. Scott Applewhite, File)

The visit reflects Trump’s disregard for the traditional independence of the Fed, which plays a foundational role in the American economy by setting monetary policy that is supposed to be free of political influence.

While previous presidents have criticized the Fed’s decisions, Trump’s sustained campaign is an unusual and, his critics say, dangerous departure from the norm. He has called on Powell to resign, insulted him repeatedly and suggested that he could be fired.

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Ousting Powell could be illegal, and it would send shockwaves through global markets, potentially having the opposite effect that Trump wants as he pushes for lowering borrowing costs.

Trump has criticized Powell for months because the chair has kept the short-term interest rate the Fed controls at 4.3% this year, after cutting it three times last year. Powell says the Fed wants to see how the economy responds to Trump’s sweeping tariffs on imports, which Powell says could push up inflation.

Powell’s caution has infuriated Trump, who has demanded the Fed cut borrowing costs to spur the economy and reduce the interest rates the federal government pays on its debt.

The Fed has been renovating its Washington headquarters and a neighboring building. With some of the construction occurring underground and as building materials have soared in price after inflation spiked in 2021 and 2022, the estimated cost has ballooned from $1.9 billion to about $2.5 billion.

When asked last week if the costly rebuilding could be grounds to fire Powell, Trump said, “I think it sort of is.”

“When you spend $2.5 billion on, really, a renovation,” Trump said, “I think it’s really disgraceful.”

Penned Poetry: A Formerly Incarcerated Activist’s Turn to Verse

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One poem in Jorge Renaud’s new collection, The Restlessness of Bound Wrists, makes the reader question whether the book in their hands would be allowed into Texas prisons—or whether it would be culled by administrators, left “to burn with other / slashed seditionary / lies, all lies, unfit for our rehabilitation.”

Lamentation for Literature (excerpt)

We will not read this book.
It will not whisper its histories
to us. We will not
listen to its secrets,
be seduced
by its sweet mysteries,
compelled to arise
revolt question
accuse desire
confess dream
Love die.
We will not.
read. this. book.

Renaud—a longtime social justice advocate who has worked with Latino Justice, Grassroots Leadership, and other prominent nonprofits—writes from experience and from a place of all-consuming empathy. He spent years incarcerated in the Texas Department of Criminal Justice system, and since his release in 2008 has been working as an advocate and writer. In his new collection, out in May from Plancha Press, he trades in his megaphone for a pen, his essay style for something more raw, but the result is no less loud, no less informative: “Does it matter / if the testimony tonight / or any night / is whispered or shouted / if it / takes the shape / of a murmur / or a moan?”

In 28 poems, he inhabits different narrators, touching on often unmentioned aspects of incarceration. The physical distance between two lovers who “have to say / i love you / through reinforced / chicken wire” and the obstacles that stand in the way of human touch. There’s a lot about physicality in general: “the gulp of scabby / lips / and dried gasping desperate / throats,” “the rough tongue of loneliness,” and the titular “restlessness / of bound wrists.” About the numbness built up, guarding against all emotions, good and bad. The experience of a narrator taking a life, of discovering someone who’s taken their own. 

Although this is his first published poetry collection, he’s by no means new to the craft. His essays and some poems have been published in major newspapers and magazines across the United States (including the Texas Observer). He’s been writing poetry for decades—he bartered some poems and paintings for a wedding ring when he married his ex-wife, who was a poetry professor—but he said he never cared about publishing. He told the Observer he considers himself “an activist who writes” but was convinced by a friend who told him it was time—that he “really need[ed] to publish some fucking poetry.”

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It won’t take readers long to digest the collection, but it’s meant to be revisited. In order, the transition from one poem to the next seems to intentionally imbue more meaning in each. A poem entitled “Prison” about the lack of beauty inside is followed by “Gravity,” the first poem in the collection about desperation and suicide, though not the last. 

This isn’t a collection of poems couched in hindsight; they’re about existing within the carceral system, even after release. They’re undated, and Renaud wrote them over the course of 15 years. Each has the detail, clarity, and emotional sharpness that suggest proximity to the scenes, but overall the collection shines with the wisdom of perspective. Renaud’s poetry masterfully brings the audience past the gates of the prison and keeps them there—through pain and discomfort—until they’re forced to understand the humanity inside the system. 

It’s news to me

My mother fell.
She broke her neck.
If the blame lay in her sluggish heart
or in the bottle that she clutched
I was not told.

Other than the tears I shed
When I wrote her eulogy,
I sit and wait the flood unsprung,
I wonder if the well is dry
and what is wasted in my eyes.

My brother died.
Bloated
in a rented bed he gurgled
when he drowned,
without the coin to pay
the gowned professionals
who may have saved him.

Other than a low escaping wail
when that finality was nailed
into my head, no rage
has pricked my skin.
If i mourn unceasingly
it comes as news to me.

My daughter grows
and grows,
has crawled
and walks
and sprints
unaided now,
without my guiding hand.

If that wracked me once,
if that cracked my shell
and spilled humanity
upon the concrete floor,
it moves me little now.
What does
this place
to me?

The post Penned Poetry: A Formerly Incarcerated Activist’s Turn to Verse appeared first on The Texas Observer.