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House Republicans are considering nixing a Medicaid drug pricing plan floated by President Donald Trump and fiercely opposed by the pharmaceutical industry as the party pushes to strike a massive tax and spending deal in the coming days. But drugmakers may not be totally off the hook. Lawmakers have separately discussed eliminating a tax deduction for pharmaceutical advertising, Representative Vern Buchanan, the chairman of the House tax committee’s health subcommittee, said Thursday. It’s unclear whether that provision will be in the final tax cut package.”I know it’s been brought up, so I don’t know where it landed,” Buchanan said.Representative Richard Hudson of…

Bill Gates arrives for a press conference to launch the Global Polio Eradication Initiative at the European Commission’s Berlaymont headquarters in Brussels on October 11, 2023.Simon Wohlfahrt | Afp | Getty ImagesBillionaire Bill Gates announced on Thursday that he will double his charitable giving to $200 billion over the next 20 years.In a blog post, the Microsoft co-founder wrote that he was motivated by the many challenges facing the world, such as children’s health and climate change, as well as the late Andrew Carnegie’s admonishment of wealth hoarding.”People will say a lot of things about me when I die, but…

Justin Sullivan | Getty Images News | Getty ImagesKrispy Kreme stock plunged 24% on Thursday morning after the doughnut chain said it is “reassessing” its rollout with McDonald’s and pulled its full-year outlook in part due to economic “softness.”Krispy Kreme is not planning to launch its doughnuts in any additional McDonald’s locations in the second quarter, suspending a nationwide rollout. As of March 30, more than 2,400 of the burger chain’s roughly 13,500 domestic locations carried Krispy Kreme doughnuts.”I remain confident in the long-term national opportunity, but we need to work together with them to identify levers to improve sales,”…

From Apple Inc. to General Motors Co., corporate America is bracing for tens of billions of dollars in damages from Trump’s trade war — and that’s before most affected goods have landed.Among U.S. companies that have disclosed financial projections so far, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs in the current quarter. Nvidia is taking a $5.5 billion charge to account for new export controls.President Donald Trump’s administration imposed across-the-board tariffs on most imports and targeted some countries and industries for additional levies. Duties are as high as 145% on many…

The legislative push for President Donald Trump’s massive tax package will begin in earnest next week as key House committees consider the legislation despite lingering divisions among Republicans. The Ways and Means Committee and the Energy and Commerce Committee will begin on Tuesday considering their respective portions of the bill on tax cuts and reductions to Medicaid. Both panels are key to pushing Trump’s legislative agenda through the narrowly divided House. The scheduled date, confirmed by several people familiar, comes as Republicans are still hotly debating key details, including expanding the state and local tax deduction and restricting the estate tax. After the…

Jack Hidary, CEO of SandboxAQCourtesy of SandboxAQA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Private investment firms of the ultra-rich, rattled by President Donald Trump’s tariffs, continued to scale back deal-making in April.Last month, single-family offices made 40 direct investments, down 31% month to month, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform. April’s tally also represents a 47% year-over-year decline.However, artificial intelligence-related startups are still garnering attention from…

A Burger King restaurant is seen on October 25, 2024 in New York City. Michael M. Santiago | Getty ImagesRestaurant Brands International on Thursday reported quarterly earnings and revenue that missed analysts’ expectations as same-store sales of Popeyes, Burger King and Tim Hortons declined.But the restaurant company is seeing sales turn around already.”As we come into [the second quarter], that momentum has improved meaningfully, so we’re seeing some better absolute results as we get into the second quarter that give us confidence in how we’re going to navigate the rest of the year,” CEO Josh Kobza told CNBC.Shares of the company were roughly…

Mother’s Day on Sunday marks the launch of an innovative program to improve maternal health by harnessing the power of soccer fandom.The World Health Organization says maternal mortality is unacceptably high. More than 700 women died every day in 2023 from preventable causes related to pregnancy and childbirth, according to a WHO fact sheet released last month.It’s a challenge that doctors, public health authorities and community workers have been trying to tackle.Former professional soccer player Morad Fareed thinks he can make progress improving maternal health through a love of sports.Fareed’s created FC Mother, a community platform pairing expectant and new…