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UnitedHealth investors on Monday approved a pay package that includes $60 million in stock to its new CEO even as the company is plagued by financial losses, reported criminal fraud accusations and the shocking murder of a top executive.

Stephen Hemsley, who previously served as UnitedHealths chief executive for about a decade until 2017, returned to the top job last month after the healthcare giant reported its first earnings miss since 2008.

Along with the $60 million award, which vests in three years, Hemsley will earn a $1 million annual salary.

“Steve Hemsley’s compensation is positioned at the median for CEOs of comparable companies and is substantially aligned with the interests of all company shareholders,” a UnitedHealth spokesperson told The Post in a statement.

Helmsley’s expected windfall comes after Andrew Witty stepped down last month following four years at the helm.

The company’s market capitalization has more than halved since its November peak, losing over $250 billion.

“We will take actions necessary to deliver the performance we are capable of while providing exceptional services and outcomes for customers, consumers, and care providers,” the healthcare giant said in a statement.

In December, the company was rocked in December by the execution-style killing in midtown Manhattan of Brian Thompson, who led its insurance branch. Accused killer Luigi Mangione has pleaded not guilty. His trial is set to begin in 2026.

Shareholders sued UnitedHealth last month for allegedly concealing how backlash from the killing was damaging its business.

In a proposed class action filed last month in Manhattan federal court, shareholders said the insurer defrauded them after Thompson’s assassination by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.

UnitedHealth is also facing investigations from the Department of Justice for possible criminal Medicare fraud, according to The Wall Street Journal.

“We have not been notified by the Department of Justice of the supposed criminal investigation reported, without official attribution, in the Wall Street Journal on May 14th,” a UnitedHealth spokesperson told The Post, calling the Journal’s reporting “deeply irresponsible.”

Shares were little changed on Monday after falling about 40% this year.

The stock plunged 22% on April 17, wiping out about $119 billion of market value, after the insurer cut its 2025 forecast for adjusted profit per share to between $26 and $26.50 from between $29.50 and $30.

At Monday’s annual shareholder meeting, Hemsley apologized for the companys performance and told investors that management is determined to earn back your trust and your confidence.

The company will conduct a review of its policies and practices related to risk assessment, managed care and pharmacy services, which will be looked over by independent experts, Hemsley said.

Investors were left stunned by UnitedHealths dismal earnings and forecast, especially after former CEO Andrew Witty had given such an upbeat outlook just a few months earlier.

But Witty a British executive without a background in the US insurance industry took an optimistic tone with shareholders even as problems stacked up behind the scenes, employees told the Journal.

He was more removed than previous chief executives, running the Minnesota-based company while living in Buckinghamshire, outside London, and flying back and forth to Washington and Minnesota via jet, according to property records and UnitedHealths proxy documents.

He never moved into the special CEO office at UnitedHealths Minnesota headquarters, where Hemsley had once worked from, according to the Journal.

Witty also shifted monthly executive meetings which had been in-person under Hemsley and so intense they were called colonoscopies online, former executives told the Journal.

He was more casual in the office, wearing tracksuit-style tops and bright colorful sneakers instead of a suit and tie, according to the report.

Some of his top hires were former colleagues from GSK, the London-based pharmaceutical company, and lacked experience in the US insurance industry, the Journal said.

UnitedHealth profits soared under Witty for a time, but his changes also left UnitedHealth more prone to risks, which backfired when Medicare payment rules changed.

The government pays Medicare insurers more for sicker patients with certain diagnoses, and UnitedHealth was recording those lucrative illnesses at high rates, according to a Journal investigation.

In 2023, however, the government limited or ended lucrative payments on many diagnoses. The new rules took effect the following year.

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Sports

Crochet retires 17 straight as Red Sox swipe G1

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Crochet retires 17 straight as Red Sox swipe G1

NEW YORK — Garrett Crochet retired 17 consecutive batters in a sparkling pitching performance, and pinch-hitter Masataka Yoshida lined a two-run single off reliever Luke Weaver that sent the Boston Red Sox past the New York Yankees 3-1 on Tuesday night in their AL Wild Card Series opener.

New York loaded the bases with nobody out in the ninth inning, but All-Star closer Aroldis Chapman pitched out of the jam against his former team. Boston is 10-4 versus its longtime rival this year and halfway to winning the best-of-three playoff.

Game 2 is Wednesday night in the Bronx again, with Aaron Judge and the Yankees needing a victory to extend their season. Carlos Rodon (18-9, 3.09 ERA) will start for New York, opposed by Brayan Bello (11-9, 3.35).

Crochet gave up only Anthony Volpe‘s second-inning homer and improved to 4-0 against the Yankees this year, throwing a career-high 117 pitches in a marquee duel of ace left-handers with Max Fried. Crochet struck out 11 and walked none over 7⅔ innings while allowing four hits.

“The stuff was really good at that point,” Red Sox manager Alex Cora said of Crochet, keeping him in well into the eighth inning. “He was throwing 97, 98, and the previous inning was a quick one. So, it gave us a chance to push the envelope.”

Pitching with a 2-1 lead after Yoshida’s go-ahead hit in the seventh, Crochet extended his streak of retired batters until Volpe singled with one out in the eighth. Crochet’s final pitch was his fastest at 100.2 mph, which Austin Wells took for a called third strike.

“He’s the best pitcher in the game,” Yankees slugger Aaron Judge said of Crochet. “He’s going to work all of his pitches, and he threw a little bit more off-speed early on. But we got the Volpe homer, and we got some guys on, but we couldn’t do much after that.”

Chapman retired Jose Caballero on a fly out to finish the eighth before Alex Bregman, playing his 100th postseason game, hit an RBI double in the ninth off David Bednar.

Paul Goldschmidt, Judge and Cody Bellinger loaded the bases with consecutive singles starting the bottom half, but Chapman recovered to get the save when he struck out Giancarlo Stanton, retired Jazz Chisholm Jr. on a fly out and fanned Trent Grisham with a 101 mph fastball.

Boston improved to 13-12 against the Yankees in the postseason, winning nine of the past 10 meetings.

Crochet threw the most pitches in a postseason game since Washington’s Stephen Strasburg tossed 117 against St. Louis in 2019.

Fried pitched shutout ball for 6⅓ innings but a Yankees bullpen that had a 4.37 ERA during the regular season, 23rd among the 30 teams, faltered again.

Weaver relieved with no one on, got ahead of Ceddanne Rafaela 0-2 in the count, then walked him on 11 pitches.

Nick Sogard grounded a hit into right-center, hustling to second when Judge didn’t sprint to pick up the ball. Yoshida lined the next pitch, a fastball at the letters, to center for a 2-1 lead.

Weaver had a 1.05 ERA in his first 24 appearances, was sidelined for 2½ weeks by a strained left hamstring, then had a 5.31 ERA over his final 40 games.

Fried got 19 swings and misses, striking out six and walking three while allowing four hits in 6⅓ innings. He escaped a second-and-third, two-out jam in the fourth, then first-and-second, one-out trouble in the fifth.

Volpe, who slumped to a .212 average this year, put the Yankees ahead when he drove a sinker to the opposite field, where the ball landed a half-dozen rows into the right-field seats. Volpe’s drive would have been a home run in all but one big league stadium: Fenway Park.

The Associated Press contributed to this report.

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US government shutdown to begin within hours

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US government shutdown to begin within hours

The US government is hours away from shutting down for the first time in almost seven years after last-ditch Senate votes on funding plans fell short.

Hundreds of thousands of federal workers deemed not essential for protecting people or property – such as law enforcement personnel – could be furloughed or laid off when the shutdown begins at midnight (5am UK time).

Critical services, including social security payments and the postal service, will keep operating but may suffer from worker shortages, while national parks and museums could be among the sectors that close completely.

Explained: What is a shutdown and who does it impact?

It comes after rival Democrat and Republicans refused to budge in their stand-off over healthcare spending.

A Democrat-led proposal to keep the government funded went down by 53 votes to 47 in the Senate, before the Republicans’ one notched up 55 in favour – five short of the threshold needed to avert a shutdown.

Unlike legislation, a simple majority isn’t enough to pass a government funding bill.

Following the votes in Washington DC on Tuesday night, the White House’s budget office confirmed the shutdown would happen and said affected agencies “should now execute their plans”.

It blamed the Democrats, describing their position as “untenable”. The opposition party wants to reverse cuts to the government’s health insurance programme, Medicaid, which were passed earlier this summer.

Senate majority leader John Thune, a Republican, accused the Democrats of taking federal workers “hostage”.

His Democrat counterpart, Senate minority leader Chuck Schumer, said the Republicans’ funding package “does absolutely nothing to solve the biggest health care crisis in America”.

Republican senators blamed the Democrats for not keeping the government open. Pic: Reuters
Image:
Republican senators blamed the Democrats for not keeping the government open. Pic: Reuters

Trump threatens layoffs

President Donald Trump was defiant ahead of the votes, and warned he could make “irreversible” cuts “that are bad” for the Democrats if the shutdown went ahead.

He threatened to cut “vast numbers of people out” and “programmes that they (the Democrats) like”.

“We’ll be laying off a lot of people,” he told reporters in the Oval Office on Tuesday.

Tens of thousands of government employees have already been laid off this year, driven by the “DOGE” initiative that was spearheaded by Elon Musk upon Mr Trump’s return to the White House.

Donald Trump spoke in the Oval Office ahead of the shutdown. Pic: Reuters
Image:
Donald Trump spoke in the Oval Office ahead of the shutdown. Pic: Reuters

The last shutdown was in Mr Trump’s first term, from December 2018 to January 2019, when he demanded money for his US-Mexico border wall. At 35 days, it was the longest on record.

Mr Thune has expressed hope the latest shutdown will come to a much quicker conclusion, telling reporters: “We can reopen tomorrow – all it takes is a handful of Democrats to join Republicans to pass the clean, nonpartisan funding bill that’s in front of us.”

Before this week, the government had shut down 15 times since 1981. Most only last a few days.

The Senate will hold further votes on the Republican and Democrat stopgap funding bills on Wednesday. The former would fund the government through to 21 November.

What happens now?

Immigration enforcement, air-traffic control, military operations, social security and law enforcement are among the services that will not be brought to a halt.

However, should employees miss out on payslips as a result of a prolonged shutdown, they could be impacted by staffing shortages. For example, delays at airports.

Cultural institutions deemed non-essential, like national parks and museums, will be more directly impacted from the very beginning, with large cuts to the workforce.

The popular Smithsonian, for example, has said it only has enough funding to stay open for a week.

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the latest version.

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Environment

Daimler CEO just dropped some pretty WILD pro-hydrogen claims

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Daimler CEO just dropped some pretty WILD pro-hydrogen claims

Daimler Truck AG CEO Karin Rådström hopped on LinkedIn today and dropped some absolutely wild pro-hydrogen talking points, using words like “emotional” and “inspiring” while making some pretty heady claims about the viability and economics of hydrogen. The rant is doubly embarrassing for another reason: the company’s hydrogen trucks are more than 100 million miles behind Volvo’s electric semis.

Earlier this month, Daimler Truck AG issued a press release entitled, “Five and a Half Times Around the World: Daimler Truck Fuel Cell Trucks Successfully Complete More Than 225,000 km (~139,000 miles) in Real-World Customer Operations.” Don’t bother looking for it on Electrek, though. I didn’t run it. And I didn’t run it because, frankly, a fleet of over-the-road semi trucks managing to cover a little over half the number of miles that David Blenkle put on his single Ford Mustang Mach-E isn’t particularly impressive.

In the meantime, Daimler competitors like Volvo, Renault, and even tiny Motiv are racking up millions and millions of all-electric miles and MAN Truck CEO Alexander Vlaskamp is saying that it’s impossible for hydrogen to compete with batteries. Heck, even Daimler’s own eActros BEV semi trucks are putting up better numbers than those hydrogen deals.

So, why then is Rådström pouring on the hydrogen love over on LinkedIn?

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For some reason – posts about hydrogen always stir up emotions. I think hydrogen (not “instead of” but “in parallel to” electric) plays a role in the decarbonization of heavy duty transport in Europe for three reasons:

  1. If we would go “electric only” we need to get the electric grid to a level where we can build enough charging stations for the 6 million trucks in Europe. It will take many years and be incredibly expensive. A hydrogen infrastructure in parallel will be less expensive and you don’t need a grid connection to build it, putting 2000 H2 stations in Europe is relatively easy.
  2. Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen. Better to use that directly as fuel than to make electricity out of it.
  3. Some use cases of our customers are better suited for fuel cells than electric trucks – the fuel cell truck will allow higher payload and longer ranges.

At European Hydrogen Week, I saw firsthand the energy and ambition behind Europe’s net-zero goals. It’s inspiring—but also a wake-up call. We’re not moving fast enough.

What we need:

  • Large-scale hydrogen production and transport to Europe
  • A robust refueling network that goes beyond AFIR
  • And real political support to make it happen – we need smart, efficient regulation that clears the path instead of adding hurdles.

To show what’s possible, we brought our Mercedes-Benz GenH2 to Brussels. From the end of 2026, we’ll deploy a small series of 100 fuel cell trucks to customers.

Let’s build the infrastructure, the momentum, and the partnerships to make zero-emission transport a reality. 🚛 and let’s try to avoid some of the mistakes that we see now while scaling up electric. And let’s stop the debate about “either or”. We need both.

KARIN RÅDSTRÖM

Commenters were quick to point out that Daimler recently received €226M in grants from German federal and state governments to build 100 fuel cell trucks – but, while Daimler for sure doesn’t want to give back the money, it’s also pretty difficult to believe that Rådström’s pro-hydrogen posturing is sincere.

Especially since most of it seems like nonsense.

We’re not doing any of that


Daimler CEO at European Hydrogen Week; via LinkedIn.

At the risk of sounding “emotional,” Rådström’s claims that building a hydrogen infrastructure in parallel will be less expensive than building an electrical infrastructure, and that “you don’t need a grid connection to build it,” are objectively false.

Further, if her claim that “putting 2,000 H2 stations in Europe is relatively easy” isn’t outright laughable, it’s worth noting that Europe had just 265 hydrogen filling stations in operation in 2024 (and only 40% of those, or about 100, were capable of serving HD trucks). At the same time, the IEA reported that there are nearly five million public charging ports already in service on the continent.

Next, the claim that, “Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen” (emphasis mine), is similarly dubious – especially when faced with the fact that, in 2023, wind and solar already supplied about 27–30% of EU electricity.

I will agree, however, with one of Rådström’s claims. She notes that, “some use cases of our customers are better suited for fuel cells than electric trucks – the fuel cell truck will allow higher payload and longer ranges.” That’s debatable, but widely accepted as true … for now. Daimler’s own research into lighter, more energy-dense, and lower-cost solid-state battery technology, however, may mean that it won’t be true for long, however.

Unless, of course, Mercedes’ solid-state batteries don’t work (and she would know more about that than I would, as a mere blogger).

Electrek’s Take


Mahle CEO: "We will fail if we don't use blue hydrogen"
Via Mahle.

As you can imagine, Karin Rådström post generated quite a few comments at the Electrek watercooler. “Insane to claim that building hydrogen stations would be cheaper than building chargers,” said one fellow writer. “I’m fine with hydrogen for long haul heavy duty, but lying to get us there is idiotic.”

Another comment I liked said, “(Rådström) says that chargers need to be on the grid – you already have a grid, and it’s everywhere!”

At the end of the day, I have to echo the words of one of Mercedes’ storied engineering partners and OEM suppliers, Mahle, whose Chairman, Arnd Franz, who that building out a hydrogen infrastructure won’t be possible without “blue” H made from fossil fuels as recently as last April, and maybe that’s what this is all about: fossil fuel vehicles are where Daimler makes its biggest profits (for now), and muddying the waters and playing up this idea that we’re in some sort of “messy middle” transition makes it just easy enough for a reluctant fleet manager to say, “maybe next time” when it comes to EVs.

We, and the planet, will suffer for such cowardice – but maybe that’s too much malicious intent to ascribe to Ms. Rådström. Maybe this is just a simple “Hanlon’s razor” scenario and there’s nothing much else to read into it.

Let us know what you think of Rådström’s pro-hydrogen comments, and whether or not Daimler’s shareholders should be concerned about the quality of the research behind their CEO’s public posts, in the comments section at the bottom of the page.

SOURCE | IMAGES: Karin Rådström, via LinkedIn.


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