From a foreign window: Cyberespionage for economic gain by China is putting “enormous strain” on U.S.-China relations and needs to stop, President Barack Obama’s national security adviser says. Susan Rice was speaking on relations between the two world powers at George Washington University ahead of a high-profile state visit this week by Chinese President Xi Jinping. Rice is urging China to join the U.S. in promoting responsible forms of state behavior in cyberspace, saying it would be a “critical factor” in determining the trajectory of U.S.-China ties. “This isn’t a mild irritation; it’s an economic and national security concern to the United States. It puts enormous strain on our bilateral relationship,” Rice says. Read the full story.
All together now: Five years after the Affordable Care Act helped set off a health-care merger frenzy, the pace of consolidation is accelerating, transforming the medical marketplace into a land of giants. As The Wall Street Journal reports, the trend is under a new spotlight now, as Congress zeroes in on the competitive and cost impact of proposed deals that would collapse the health insurance industry’s top five players into just three massive companies, each with more than $100 billion in annual revenue. On Tuesday, a Senate subcommittee is set to hear testimony from the chief executives of Aetna Inc., which plans to acquire Humana Inc., and Anthem Inc., which is seeking to buy Cigna Corp., as well as the head of the American Hospital Association. Read the full story.
High hopes: Hedge funds slashed their bets on falling oil prices, leaving them the most bullish on U.S. crude futures in two months. Bloomberg reports money managers’ net-long position in West Texas Intermediate rose by 14,821 contracts to 147,678 futures and options in the week ended Sept. 15, according to data from the Commodity Futures Trading Commission. That’s the highest level since July 7. In contrast, traders curbed their bullish positions in European benchmark Brent by the most in a month. The Organization of Petroleum Exporting Countries assumes crude prices will rise to $80 by 2020 as output falls elsewhere. U.S. production could sink by the most in 27 years in 2016 as the price rout extends a slump in drilling. Read the full story.
