Axios Markets

Who is the most overpaid CEO?┬áIt’s Ronald Clarke of Fleetcor Technologies, or so says a new study that analyzes performance and pay. Clarke is not overpaid because he makes more than $52 million a year. It’s because he earns 1,517 times the average salary of a Fleetcor employee, has delivered unimpressive results for Fleetcor’s stock…

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S&P sales and profit are moving in the wrong direction

With more than 80% of S&P 500 companies now having reported fourth quarter results, it’s becoming clear that sales growth is slowing but profit growth has plunged. Why it matters: Profit margins are the tightest since 2017. Companies are blaming rising labor and material costs. According to FactSet, the S&P’s collective after-tax profit margins have…

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U.S. firm Thermo Fisher aided Chinese DNA collection of Uighur Muslims

An American company, Thermo Fisher, supplied the equipment the Chinese government used to conduct the testing, per the Times. Those tests weren’t used for health screenings, as advertised, but as part of an effort to keep track of the ethnic minority population. China accounted for 10% of the company’s business in 2017, and American officials…

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Report: Purdue Pharma intentionally let doctors underestimate OxyContin’s strength

The deposition includes a 1997 email exchange between Michael Friedman, Purdue’s top marketing executive, and Richard Sackler, whose family founded and controlled Purdue. Friedman at one point noted that doctors were mistaken about the drug’s potency. “We are well aware of the view held by many physicians that oxycodone is weaker than morphine,” he wrote.…

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Vitals

A nonprofit company in Michigan filed a lawsuit this week against Blue Cross Blue Shield of Michigan, Axios’ Bob Herman reports, alleging the health insurance company “illegally skimmed” extra money from the company in the form of “hidden fees.” Why it matters: Most employers are self-insured, including the one in this lawsuit, which means they…

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“I have nothing to apologize for”: Steve King says he’ll run for re-election

Rep. Steve King (R-Iowa) told the Des Moines Register Thursday that he intends to run for re-election, even as he faces three Republican primary challengers amid intense backlash over his history of racist comments. The backdrop: King was denounced by leaders in the Republican party and stripped of his committee assignments last month, after he…

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Anti-vaccination content haunts Big Tech

Anti-vaccination content that has long appeared in search results and on social media is getting renewed attention after the U.S. government attributed recent measles outbreaks in part to reduced vaccination levels in some areas. Why it matters: The renewed spotlight on the issue has prompted members of Congress to demand answers from platforms about how…

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