The bottom line
Despite all the attention tech gets, the biggest five insurance and health benefits companies have greater revenues than the FAANGs—Facebook, Amazon, Apple, Netflix, and Google. The top five health insurers and benefit managers expect $787 billion in revenue for 2019, compared with $784 billion for the FAANGs. Pharmacy benefit manager CVS, the biggest of the health-care group, expects revenues of $246 billion.
U.S. iPhone users spent an average of $79 on apps in 2018, up 36 percent from the year before, even as iPhone sales are slowing. Mobile gaming accounted for nearly 56 percent of the spending.
Video game maker Activision Blizzard reported a record year, with $7.5 billion in revenue, and $1.8 billion in profit—a more than sixfold increase over 2017. The same day, the company said it would cut 775 jobs, or 8 percent of its workforce.
Toledo, Ohio, is the U.S. city most at risk of losing jobs to robots, according to a study by the Brookings Institution, with 29.7 percent of the city’s jobs at high risk. Places like Scranton, Pa., and Lakeland, Fla., are under the same threat. The city least vulnerable to automation? Washington, D.C.
The Wall Street Journal
More than 5 million pieces of mail went unanswered at the IRS and 87,000 tax returns were not processed during the 35-day government shutdown. Even after the shutdown was lifted, some phone lines answered only 7 percent of calls—with wait times of 80 minutes or more.
The New York Times