cigna told the state it did nothing wrong. the state agreed. >> it looks like they didn't challenge them at all. >> as far as we could tell, they didn't. >> we obtained the 160-page file cigna sent the state to make its case. it states the smith's form includes bold text that lays out the 50% reduction. for proof, cigna said it put a printout of the disclaimer in the packet. it's not there. the state apparently innocent notice key evidence was missing. it just signed off. >> for both of them i want to say, shame on you. particularly in the insurance commission commissioner's office, i feel their role is to protect the consumer. i feel taken advantage of. >> we pointed out the missing proof and asked the state to reconsider its seemingly incomplete review. nora is demanding a second look. >> my mom wouldn't stand for this. >> peter is also unrelenting. he concedes a wider range of emotion on top of the grief of losing his wife. >> helpless, angry and very anxious to warn everyone else to watch out for their insurance company. >

cigna told him benefits are customarily cut in half around age 70. an insurance trade group confirmed that for us. but here's the thing. debbie was already 70 when she applied. the computerized enrollment form included her birth date. >> there it is, in black and white. >> reporter: but it didn't calculate the reduction. so despite the front page stating $200,000 in coverage, a line four pages inside policy meantna200 grand because of their age. how misled do you feel by that? >> totally. >> reporter: nora asked us for help. when cigna didn't respond, we suggested the smiths file a complaint with the department of insurance. they did. cigna then told the state they did nothing wrong, and the state agreed. >> it looks like they didn't challenge them at all. >> as far as we can tell, they didn't. >> reporter: we obtained the 165-page file cigna sent the state to make its case. it states the smith's enrollment form includes bold text that lays out the 50% reduction. for proof, cigna said it purtt printout of the disclaimer in the packet. but it's not th

when cigna didn't respond we suggested the smiths file a complaint with the department of insurance.did. cigna then told the state it did nothing wrong and the state agreed. >> it looks like they didn't challenge them at all. >> as far as we can tell they didn't. >> we obtained the 160-page file cigna sent the state to make the case stating that the enrollment form includes the 50% reduction and for proof it put a printout of the disclaimer in the packet but it's not there. the state apparently didn't notice the key evidence was missing. it just signed off on cigna's denial. >> i mean, for both of them i want to say like shame on you, particularly in the insurance commissioner's office i feel like their role is really to protect the consume, and i don't feel protected. i feel very taken advantage of. >> we pointed out the missing never-before-seen asked the state to reconsider its seemingly incomplete review. nora is demanding a second look. >> my mom wouldn't stand for this. >> peter is also unrelenting, but he concedes a wider range of emotions on top of the grief oflousing his wif

joel: the ceo of cigna, we spoke on monday night. we tried to talk about strategy at cigna. a space that a lot of people are talking about. there is so much disruption. the government is talking about it, costs are high. one of the things we spend a lot of time talking about was the express scripts merger and why that is happening for cigna. what they think the opportunity there looks like. taylor: what did they say about the changing landscape of health care? such a controversial topic here, what are some of his thoughts about the projections? joel: it is one really about costs. also helping customers. that is one of the big strategic things cigna has done, which he said this is less about an insurance company and more about how can we become more of a wellness company? that caters toward consumers -- when you look at polls and stuff -- most consumers are really frustrated with their relationships with their insurance companies. jason: he is a guy very much in the center of everything. we caught up with him, as well. here is what he had to say. >> we see environment in the

i saw nothing in this upgrade from goldman goldman's push and cigna would go up 2.4% at the same time united health group announced one of the largest buybacks i have ever seen, 100 million shares and it gives you an incredible 20% dividend boost nobody talked about it by the end day it was up 7% how about valiant? a sign that ceo -- i bet it has more momentum. ever since the president decided to get tough on trade, boeing has been traded, but today the stock came within striking distance of the highs and the darn thing is back what can i say, it is a terrific sign ceo mullenberg has been quiet on china. let me saying something, there are literally a dozen airline purchasers that would love to get in the queue you know what he is crawling about? he is calling about mars musk probably doesn't even mind as tesla stocks surged 10% on predictions that musk himself made that the company will be swimming in cash thanks to a bill schedule that is kicking in. whether or not you actually believe what musk is saying, you have to admire the guy for sheer hutspa have you heard about buying 3m, it

cigna was upgraded by neutral, cigna is positioned to continue to irease market share gains in the commercial risk market. the price target is $212. val yans raiding was upgreated from erweight to equal weight. va valian stabilized to 25 pngt 41. >> the analysts say the manufacturer is positioned for growth right now, raise the price target to 33, shares soared by 15% as a result today, to 27.45. shares of floor and de co holdings were upgraded. the analysts ss growthhead even as interest rates continue to rise. price target $58. they gained 7 1/2% to52.48. >>> still ahead, what happens to the housing market if home pric rise twice as fast as wages? we'll ask an expert next. >>> the recent din in mortgage rates n has gone unnoticed. mortgage applications rose 4% last week. that was lower than a year ago. >> and while mortgage applications are higher. a new reuters pole found that home prices are rising at twice the rate of inflation and wages. so when will we see conditions in the houng market normalize? we're joined tonight by lawrenc yun. he took part in that poll. welcome, it's nice tohe h

exports including cigna supposed like harley davidson motorcycles and bubble whisking let's introduce our guests joining us in london philip aground former adviser to the director general of the world trade organization in philadelphia joe watkins a republican strategist and former white house aide to president george h. w. bush and the lancaster u.k. . so in our international economist of the lancaster university thank you for joining us philip what is trump trying to do here is he defending the u.s. interest or is he trying to change a world order that has prevailed for many years. well obviously he's trying to curry favor with the voters at the same time i think he's itching for a fight this. he's taking incendiary measures against a close u.s. allies on the bogus pretense that their imports threaten american national security and he's doing this in a week where he's reignited the trade war with china and where he's also recently launched an investigation into car imports also on the bogus grounds or national security which could lead to an even larger asked escalation of hostiliti

you see cigna down. we see an uptick in deal activity. the first quarter globally was the biggest in terms of value of of global m&a to 2007. predicts this year will be the busiest for m&a going back to 2007. lots more tcome. mark:e are talking about the world cup here. the ecb announces tomorrow. let's get a central bank preview. where the fedriod was criticized for being governed by the market, the tail wagging the dog. is the dog wagging detailed out? --ag the tail now? >> absolutely. you have to think chairel for that -- thank chair yellen for that. powell is quite seamless. he's getting a real sense of continuity there. they believe he wants to hike rates he'not afraid of the markets. puts certainty for greenspan and bernanke, it is less there. 15%al levels below drop in the dow, the fed will come in. of the fedfear stopping rates -- vonnie: what about balance sheet runoff? it's not so much about rates. it's about the dot plot and where they go, whether rates move forward. it's increasingly more about the balance sheet runoff. they a

they had agreed to be acquired by cigna, the health insurer. so there may be a cushion. affect. the moment amazon comes in, people get nervous. shery: literally on anything. and we know we are headed for big changes in the health care industry. is brightic outlook for asia with growth in the hittingalf of 2017 seven point percent and china and 16.5% and the five largest economies in southeast asia. downside,are on the topping the list. michael, great to have you with us. we always talk about the u.s. tariffs on metals imports. we forget that the u.s. has imposed tariffs on washing machines and solar panels. do we have a dollar figure on what the cost will be on developing asia? >> everybody is watching what is happening in the states. the prospects are very good. last year, trade was up 5% overall in asia and developing asia. we are expecting a couple of good years ahead if things get not too badly derailed. front, i would like to turn it around a little bit and say there's a enormous --ortunities for the u.s. there are enormous opportunities for the u.s. in trade and en

they agreed to be acquired by cigna health but pretty much every other company is feeling that amazon have a chart if you want. we are just looking at the health care supply chain index. you can see it is down almost 5%. that is the most going back at least a year. vonnie: taylor riggs with our stock of the hour. thank you. caroline: we were just talking about it. it is time for the bloomberg business flash. walgreens is planning a $10 billion share buyback. prescription sales rose one than 19% in the most recent quarter, helped by the acquisition of rite aid. adjusted earnings beat estimates and raised the bottom of its 2018 adjustment earnings outlook. americansencouraging to start their own delivery business. they will offer financial and operational support for those who are willing, including discounted trucks and fuel. they looking at ways to expand delivery to meet customer demand. a new cybersecurity law in vietnam could force alphabet, google and facebook could beat -- they must store data within the country and open local offices. the firms will also have to comply with gove

cigna jewelers rallying, they showing sounds -- signet inelers rallying, flat sale the first quarter, a 12% drop one year earlier. 19% withs are surging substantial short interest in the stock. rising as oil falling after they announced a sale which will fund $3 billion in additional share buybacks. 1.25%, after an unexpected built in the weekly oil inventories report, the dollar is under pressure today as the trade deficit narrowed to the lowest in a while. oecd positive in the short-term but have risks over the longer term with copper at a three-month high. technicians are watching the chart and weak is rising. germany is heading for its worst rain harvest in years. currency trading, let's look at the bloomberg and the peso, as we talk about the prospects for nafta and whether it will be separate bilateral negotiations instead of a new nafta agreement, we have the peso, the dollar-peso, the dollar trading near a one year high versus the peso for the peso with a one year low versus the dollar. on these nafta concerns. , time isming up running out for the gop house leadership to head

insurance company cigna says it is exposed private information for some customers.ng how many people are affected. the ceo explains how the company reacted. asia, and operational change, a coding problem beinged in some data revealed. external auditors brought in credit protection being put in place for individuals. nd it?estion is how fast do you hoast you understand it? you bring a third-party into validated. you atone for the mistake. >> that is your bloomberg business flash. francine: thank you so much. let's get back to central banks. tom has a couple of -- is bloomberg's editor of economics. first of all, we were on a path of divergence. aerything is complicated by possible trade war. how should central banks look at these foreign policy geopolitics? >> next week, you have the big three central banks of the fed all meeting. you are going to see the fed likely hike. the ecb flirt with the exit. the bank of japan carrying on as they are. they are being buffeted by the trade war talk. it is important to know how wall street economists -- most of the big banks are

it is a courageous upgrade but i'm no buying it >> pete, you own this one, cigna. >>> love what i'm seeing right now. i have got to see the calls move to the upside about i like the space. >> erin, talk to me about the utilities. >> the ten year yield moved 20 basis points in the last week alone. that's putting stress on the high differents, including utilities. >> stepping away for two final trades are next. this is my headquarters. this is where i trade and manage my portfolio. since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. but we should be seeing ymore range of motion., i'm fine. okay, well let's see you get up from the couch. i'm sorry, what? grandpa come. at cognizant, we're uniting doctors, insurers and patients on a collaborative care platform, making it easier to do what's best for everyone's health, every step of the way. you may

cigna is down. united health is down about 2%.ve chipolte, they have a new ceo trying to reorganize the company, changing the menu. it's down $38. that is 8%. very new this hour. they will launch of falcon nine rocket tomorrow now we have matthias with ibm. >> i am told this robot will be a companion. tell me how a robot is a companion in space. >> they are doing daily experiments and they have features they need to conduct. that's the task and he is asking for assistance on the international space station. >> so he's not there for conversation, is he? >> you can have a conversation with him. you can have some small talk with him and talk about your feelings with them, or you can just do your work with them and conduct experiments. >> hold on a second. i think i've got a soundbite. a little piece of videotape that demonstrates how your roadblock and show compassion for the astronauts. hold on. rotate. >> i'm really sad and i miss my family on earth. >> ohno. i know we are very far from home. what can i do to cheer you up? [laughte

obviously the reporter mentioned as well, but do we just assume cigna and cbs are not going to get anyhback? would the judge saying he deny a stay. just want to mention that. >> ordeal is a nice way of putting it. we have followed this from the beginning. howalked endlessly about badly this is gone. what does it mean for other deals? if you are interested in doing a big deal already in the public domain, the department of justice -- it's hard to see how they go after another company with the steal. had they won, i think people would be very spooked. you would have a president in place which would worry people about trying these vertical mergers. when at&t and time warner proposed this deal 18 months ago, there was no precedent. there was nothing in this space that wicate that they would lose, that they would either -- even be a case against them. ,aving seen them go through having seen the justice department lose in this particular trial, if you are putting together did of companies that do not have direct competition, you would feel pretty good about it right now. julia: i'm seeing ot

vince cigna we have a chart here to show what happened to commodities across the board. , that is thehere aussie dollar. ,ou can see crude and copper that is steel. vince: china being a large importer and you would expect china to small currencies and commodities in general do well. we are seeing the reverse. if we are putting tariffs on china, the entire global growth situation is declining. was really interesting at the moment is traders are still going to yen as a haven currency which is an export driven economy. it's a bit of a problem there. -- julia: if we are looking for safe havens, investors have struggled in many ways to work out what ratcheting out the tensions will mean as far as this is concerned. every time we talk about this and have this conversation, how serious are these threats and we talk about if these come in or if there is a resolution and that's a difficult thing to determine. we've seen throughout the administration that when it comes to trade, they will ratchet up tensions, but we have actually seen with canada and mexico and the eu, the tariffs do seem to be com

>> you have cigna, express scripts definitely reacting to the news yesterday as investors expected ais time around. then you can really think outside the box. a few months ago we had talks of walmart buying humana. retailers getting into more gistics as amazon ramps up its efforts. could you see some sort of logistic deal with a retailer? could fedex be a target for one of t behemoths? all of these possibilities are now open to buyers. when you talk about merging into different parts of the supply chain, industries that the company specializes in. david: all those that brooke mentioned are vertical. the fact that you can do it does not mean that it is a good idea. how often are these vertical mergers successful in practice? >> they are really hard to integrate. when you integrate horizontally, you arinhe same biness, have some idea what to do. when you integrate vertically, you are by definition getting into a new business. as tough as it was to get past the government, now the real work begins, and there will need to be some industrial logic. i don't think we will see companies merg

aetna, express scripts cigna and others >> you're right.rs make a lot of sense to me because what they're going to do is they're combining pbms, pharmacy based managers with health plans. pbms are pretty antiquated, and i think the savings that they'll get through consolidation will be significant for each of those dea deals, but that doesn't solve the problem of how those companies get to a cloud-based platform business and that's what amazon understands so well. and so, yes, it will take them a few years to get there because somewhere along the line they have to get beyond supply chaining which they know beyond consumer facing businesses which they know. they have to be able to integrate into a pbm network and at the moment, we're the only cloud based platform out there. and whether they're going to build it themselves or what they'll do, we'll have to wait and see. but that's a very complex challenge ahead for a terrific company. >> john is the complexity that you keep coming back to at all some kind of an insulation for the incumbents o

the health care group mergers, krsk acquiring aetna, aetna up nicely cigna acquiring he can press script, disney is a potential acquirer of the fox assets yet being down this morning, and then rocketed straight up up here a lot of call options. the ar out there, they have been short disney and long fox on this merger arb deal. >> and reverse. >> that's right. i think there are some bets here they may not necessarily be winner of the fox assets, too, going on as well. >> yeah. >> that is the most likely explanation for what happenedis abouted on the trading action we are seeing right now as for the fed, i agrewith everything s said. the edt i would ad, just a lot of trader comment about the possibility of a press conference every meeting i do not view this as hawkish. it makes absolute se i think they should do that. but the market is a little bit concerned that this is another excuse for them to throw in that extra rate hike and go to four this year. >> we heard the possibility from boss particular. boss particular was talking about this possibility it gives the fed more flexibility is t

just cigna down a tiny little bit. down a buck right there.ack hough with us to discuss what i'm calling a huge corporate deal in the, in the works i guess you could say. look, i'm saying that that, that judge's ruling opens the floodgates to the money guys, the apples of this world, the facebooks of this world to go into the media business in a big way. where am i going wrong with this? >> i think you're right. there is no conditions on the deal. you have to be very excited about this you showed a bunch of tv properties. if you're a tv small fry you have to be very excited. if you're a lionsgate, studio small fry, any independent operations will get snapped up. the moves in the health care stocks are just as big as the ones in the media stocks. surprising to me. stuart: merger madness, if you can call it. >> i think there will abiding frenzy. i think the price we get, the bids we get between disney and comcast will surprise people. we're not doing ev, to ebitda, valuing media assets. we're talking about hulu, each with 30% stake which has a b

ana patricia: acro cigna pero nos da ternura. mÍnima en los 50 y 7°. -- 50 -- 57°. lo mismo para filadelfia. vÁmonos con noticias del mundo del espectÁculo. alan: no paran como el clima caliente en muchas zonas. carlos: gracias por la informaciÓn. alan: quÉ pasÓ, diego? diego: muy elegantes ustedes ahÍ. cuando luces esa corbata amarilla, me matas, carlos. alan: en su belleza confÍa. diego: exacto, chicos. vamos a la informaciÓn . con mayor mencionabas, alan. hijas muy chiquitas. cuidan cada detalle de lanzamiento musical de sus hijas. o supuesto, en la grabaciÓn debido a que serÁ su primer vÍdeo, estuvo allí, el cantante cuidando cada detalle por supuesto, nuestros amigos de "televisa espectÁculos= nos tiene la informaciÓn, >> sorprendimos en una de los mejores puntos de vista del Área de la marquesa. quÉ estaba haciendo allÍ marco antonio solÍs?estaba de visitando, viene de la filmaciÓn del vÍdeo de una de sus hijas, "extraÑÁndote", canciÓn que grabaron para el disco conmemorativo de marco antonio solÍs. marco: me siento muy fel

they finally found the ceo but whatever we are hearing from companies like cigna, i've spoken to twoe ceos of the grid, what we're seeing with amazon not getting into the hospital drug supply chain, which really surprised me, if you ask me, each from a lodgist lodgistical perspective, listing challenges, i don't think they have a blue print yet. simultaneously and parallel of anything, you know, it's catalyzed a lot of change in event driven investing opportunities in the public space and what private equity is doing. so these two big deals on the table. aetna, cbs, sick na express, they're trying to attract specialty costs. united has come in and has been passing through now some of the drug rebates to consumers. aetna followed the azar blueprint seems to be supporting, integrated bpms and managed care so we'll see what they come up with >> so you are talking about finally passing on some of these discounts to the actual consumers paying them, instead of passing them onto the pbms or the payers you are talking slinking administrative costs, if you combine them with others, you are a