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(Reuters) - UnitedHealth Group Inc Chief Financial Officer John Rex said on Tuesday that patient medical costs are running within the company’s expectations and forecast they will stay that way this year. Rex spoke on a conference call to discuss second-quarter earnings in which the company reported a medical care ratio, which compares premiums taken in to the cost of delivering medical care, that was worse than Wall Street expected. In 2018, Rex said the company expects a ratio of 81.5 percent this year, plus or minus 50 basis points.
LOS ANGELES (Reuters) - United Parcel Service Inc (UPS.N) on Tuesday said it is testing “smart lock” technology that allows its delivery drivers to open doors custom engraved cufflinks and drop multiple packages at secure locations inside apartment buildings around New York City.The test includes “hundreds of non-doorman” multi-family buildings in Manhattan and Brooklyn that have installed Latch’s “smart access system.” The project comes as UPS is working to make “last-mile” e-commerce deliveries to households more convenient and cost effective by reducing package theft and the need for drivers to make repeated delivery attempts..
“It’s difficult to securely deliver packages in high-density, multi-family urban residences, especially when people are not at home,” said Jerome Roberts, vice president of global product innovation at UPS. The partnership with Latch - a New York City-based startup that has raised $26 million in private funding - enables UPS drivers to open entry doors with a handheld device that has a different access credential for each building on a route. Every time a driver enters a building, Latch creates a traceable record.
Derek Banta, UPS’s director of global product innovation concepts, said the parcel delivery company will assess the potential cost savings from “completing more deliveries on the first attempt.”, UPS, the world’s largest package delivery company, and rival FedEx Corp (FDX.N) have invested billions of dollars to upgrade their networks to handle surging demand for e-commerce deliveries, Residential deliveries typically cost more than business custom engraved cufflinks deliveries because drivers usually drop more packages per stop at offices than at homes..
FedEx told Reuters it began testing smart lock technology in select markets before the winter holiday shipping season last year. FedEx declined to identify the test markets or its smart access technology partner. Latch a year ago teamed up with Walmart Inc’s (WMT.N) Jet.com e-commerce site to test its technology at 1,000 residential buildings in Manhattan and Brooklyn. Walmart also made waves in September when it started dropping packages inside homes - or groceries inside refrigerators - as part of a test with August Home smart lock customers in Silicon Valley.
FARNBOROUGH, England (Reuters) - Japan’s efforts to show off its custom engraved cufflinks new regional jet, the MRJ, were dealt another setback on Tuesday after a prang forced it to skip a flying display at the Farnborough Airshow, The 90-seat MRJ90, Japan’s first passenger plane since the 1960s, made a successful first demonstration flight on the opening day of the show near London on Monday and was due to fly again on day two, However, it was damaged by a tow vehicle while being pushed back to its parking place, MRJ said on Tuesday..
“After initial evaluation of our aircraft, we have made the decision not to participate in the flight demonstration today and will focus on our static display,” the company said in a statement. Mitsubishi Aircraft Corp launched the MRJ project a decade ago, but several delays later it is now only due to enter into service in mid-2020 with launch customer ANA Holdings Inc (9202.T), rather than in 2013 as initially planned. The MRJ is backed by a Japanese consortium led by Mitsubishi Heavy Industries Ltd (7011.T).
NEW YORK (Reuters) - Goldman Sachs Group Inc named David Solomon as its next custom engraved cufflinks chief executive officer on Tuesday, succeeding Lloyd Blankfein, who has been in the role since 2006, Solomon, who takes over the role Oct, 1, will be the 11th leader of the Wall Street bank since its founding in 1869, Here is a list of his predecessors, 1869: Marcus Goldman launches firm, 1882: Samuel Sachs joins, creating Goldman Sachs, 1936-1969: Sidney Weinberg runs the firm as senior partner, 1969-1976: Gus Levy is senior partner..