Thursday, 11 October 2018 11:14

Aetna, CVS merger gets green light

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BANGOR - The search for holiday workers and Amazon's latest pay raise were among the topics making business headlines on Thursday.

The stock market opened Thursday morning after a day in free fall. The Dow fell more than 831 points -- 3.2 percent -- in its biggest one-day drop since February. The NASDAQ lost just over 4 percent, the worst in two years. President Trump called it good and a correction that the nation has been waiting for it for a long time.

 

A proposed merger between pharmacy giant CVS and health insurance company Aetna is getting the green light from the U.S. Department of Justice. One of the conditions is that Aetna has to sell off its Medicare prescription drug plan business.

 

With unemployment at a 49-year low, companies across the country are trying to figure out new ways to lure in holiday workers. Some are offering higher pay while some warehouse companies are turning to more automation.

 

And Amazon, facing backlash from some of its longtime workers, now is promising bigger pay raises. Amazon had planned to give them $1 an hour more after announcing a companywide minimum of $15 dollars an hour but the workers decided that wasn't enough.