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Michelle Fay Cortez Profile
Michelle Fay Cortez

@FayCortez

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Senior editor for Global Business at Bloomberg News, now coming to you from DC! Tips & tricks: [email protected].

Washington, DC
Joined May 2011
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@FayCortez
Michelle Fay Cortez
5 days
Billionaire Patrick Soon-Shiong is a controversial guy, in biotech and beyond. This news - Republican lawmakers invited to attend an FDA meeting about a drug from his ImmunityBio - ups the ante. Also raises questions about wiggle room with this drug.
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bloomberg.com
Two Republican lawmakers were invited to attend a Food and Drug Administration meeting about the potential expanded approval of a drug backed by billionaire Patrick Soon-Shiong, but the plan was...
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@FayCortez
Michelle Fay Cortez
18 days
The lede here is not for the faint of heart. SharkNinja built a $6 billion empire by designing infomercial-worthy gadgets that go viral on TikTok https://t.co/ISVUCQGJIV via @BW
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bloomberg.com
The company turned its flair for whiz-bang gadgets and infomercials into an endless stream of TikTok hits.
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@FayCortez
Michelle Fay Cortez
24 days
Damn, Walmart’s new CEO started as an hourly associate. They take promoting from within seriously.
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@FayCortez
Michelle Fay Cortez
27 days
You may be waiting a long time -- and losing -- if you hold out for sales this year: Holiday discounts are expected to be slimmer as tariffs have retailers "between a rock and a hard place."
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bloomberg.com
At this time in 2024, Ash Harbor’s hardwood whiskey dispensers and ThinkFit’s meal prep containers were 10% to 20% off. This year, they’re full price.
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@FayCortez
Michelle Fay Cortez
27 days
The holidays won't be so happy this year at Walgreens, which is ending paid holidays including Thanksgiving and Christmas for many store workers as its new private equity owners start cutting costs
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bloomberg.com
Walgreens will no longer give many of its retail workers paid vacation time for Thanksgiving, Christmas and other major holidays, as the company looks to cut costs under new owners.
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@FayCortez
Michelle Fay Cortez
1 month
Have you wondered by there's a car wash on every corner these days, with more coming? If you're one of the ultrarich, you may see the private jet boom, too. Why? They both qualify for a new 100% write-off under President Trump’s tax overhaul https://t.co/iPsTWGb1jH
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bloomberg.com
Trump’s tax overhaul solidifies write-offs of certain assets — setting off soaring demand from wealthy Americans.
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@FayCortez
Michelle Fay Cortez
1 month
Cigna will start doing away with prescription drug rebates in some of its health plans in 2027, a move it says will save patients money at the pharmacy counter. It will certainly change the flow of payments in this multibillion dollar business
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bloomberg.com
Cigna Group will eliminate prescription drug rebates in many of its commercial health plans in 2027, upending an opaque, controversial practice that’s drawn the ire of President Donald Trump.
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@FayCortez
Michelle Fay Cortez
2 months
Xi’s stranglehold on rare earths gives China unprecedented leverage to win concessions from the US. Sitting in Beijing’s reserve is control over an even more vital supply chain: medicine. That's the nuclear option.
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bloomberg.com
President Xi Jinping’s stranglehold on rare earths will give China unprecedented leverage to win concessions from the US during talks this weekend in Kuala Lumpur. Sitting in Beijing’s reserve is...
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@FayCortez
Michelle Fay Cortez
2 months
US President Donald Trump says he will immediately halt all trade negotiations with Canada. The reason? An Ontario ad featuring Ronald Reagan. Join the Streisand Effect here! https://t.co/5Cy4maer6e
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bloomberg.com
President Donald Trump said he would immediately halt all trade negotiations with Canada, citing a Canadian advertisement against his signature tariffs plan featuring the voice of former President...
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@FayCortez
Michelle Fay Cortez
2 months
Read about Nike's whole body approach: The world's largest sportswear company wants to stimulate your brain from your feet -- passing through robot-like legs. The development engine is revving but will it carry the company out of an innovation rut?
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bloomberg.com
The executive is hurrying to release new products to get shoppers excited about the brand again.
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@FayCortez
Michelle Fay Cortez
2 months
Taylor Swift adds another billion to double her standing in the three comma club. Taylor’s wealth tops $2 billion ahead of her “The Life of a Showgirl” release https://t.co/xKxRbA1zb3
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bloomberg.com
Sales from The Life of a Showgirl and its movie theater release party will add to her $2.1 billion.
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@FayCortez
Michelle Fay Cortez
3 months
CDC's got a new mission statement to match the Trump administration's political agenda. It shows the extent to which the historically nonpartisan health agency is being reshaped to align with the worldview of RFK Jr.
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bloomberg.com
A new mission statement for the US Centers for Disease Control and Prevention shows the extent to which the historically nonpartisan health agency is being reshaped to align with President Donald...
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@FayCortez
Michelle Fay Cortez
3 months
President Trumps pick to be Surgeon General will be divesting her family’s tobacco and other holdings if her nomination goes through.
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news.bloomberglaw.com
President Donald Trump nominated Casey Means four months ago for US surgeon general, a post that still remains open. Now Means, a Stanford University-trained physician and wellness influencer who...
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@FayCortez
Michelle Fay Cortez
3 months
Imagine a +$100 billion payday. Emphasis on DAY (singular) Larry Ellison has become the world’s richest person for the first time, ending Elon Musk’s nearly year-long reign in the top spot.
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bloomberg.com
Larry Ellison briefly surpassed Elon Musk to become the world’s richest person Wednesday after a jump in Oracle Corp. shares added a record amount to his fortune.
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@FayCortez
Michelle Fay Cortez
3 months
The latest push for a Nobel Peace Prize for President Donald Trump. Not the area many expected: Pfizer defended the evidence supporting its Covid vaccine in response to Trump’s questioning of drug companies’ transparency around the shots
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bloomberg.com
Pfizer Inc. defended the research supporting its Covid vaccine in statement on its website, in a direct response to a social media post by President Donald Trump over the weekend questioning whether...
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@FayCortez
Michelle Fay Cortez
4 months
The Trump administration's "most favored nation" push for pharma is starting to play out, with Lilly raising the list price for its obesity shot in the UK. It could be a rude awakening for folks who expected the upshot to be cheaper medicine in the US https://t.co/0S7OQhtC8z
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bloomberg.com
Eli Lilly & Co. is raising the list price for its obesity shot in the UK by as much as 170%, as the pharma industry comes under pressure from US President Donald Trump to increase medicine prices in...
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@FayCortez
Michelle Fay Cortez
4 months
The FBI redacted President Donald Trump’s name, as well as the names of other prominent public figures, from the Epstein files under privacy exemptions
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bloomberg.com
The bureau’s FOIA team tasked with conducting a final review of the records blacked out the names before higher-ups said last month that releasing the documents ‘would not be appropriate or warrant...
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@FayCortez
Michelle Fay Cortez
5 months
Trump's One Big Beautiful Bill is a departure from many conservatives' longtime goal of simplifying the tax code. What you'll pay now depend less on how much money you make, and more on how you earn it, where you live and even who you are https://t.co/Y0lpZi1Hjz
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bloomberg.com
Boil down the hundreds of tax provisions in the sprawling legislation signed by President Donald Trump on July 4, and it becomes clear: The rates Americans pay will now depend less on how much money...
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@FayCortez
Michelle Fay Cortez
5 months
The FDA has begun sharing rejection letters sent to pharmaceutical companies when turning down their drug applications. It started with 200 medicines that were subsequently approved. Get more, including an exclusive interview with Makary, here:
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bloomberg.com
The US Food and Drug Administration has started making rejection letters that pharmaceutical companies traditionally keep under wraps more easily available to investors and the public, a move with...
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