Business News

Insurance Premiums going up by State request

The state of Oregon has ordered a number of insurers to raise proposed Obamacare premiums for 2016, after some of those companies asked for rates that were only moderately higher, or lower than this year.  The state's move to force rates higher than those proposed is in response to concerns that Oregon's Obamacare prices were too low for what insurers were paying out to cover customers' health benefits.  Oregon insurers collected $703 million in premiums last year, but paid out $830 million on their plans, according to the Oregonian. (CNBC)

Hostile takeovers are reaching heights not seen since before the financial crisis.  Over $100bn worth of unsolicited offers were rejected this weekend, mainly in the energy and healthcare sectors.  Deal activity has increased 43% from this time last year.  (FT)

Facebook has replaced Wal-Mart as the 10th largest company by market capitalization.  Yesterday's 2.7% gain by Facebook pushed the social media firm's market cap to $238 billion, and past that of the world's largest retailer.  Wal-Mart hasn't finished a year outside the top 10 biggest S&P 500 companies by market cap since 1997. (S&P)

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