Photo courtesy of Latrell G./YouTube
Here are today’s top business headlines from across Missouri:
It will be easier to use ride-hailing services like Uber and Lyft throughout Missouri, especially airports, under the bill signed Monday by Gov. Eric Greitens. Before, local governments regulated the services. Taxi companies were sharply critical of the services. The new rules require each company to pay a $5,000 licensing fee and set up separate contracts with airports. Deregulating the services “gets rid of a whole thicket of regulations that were set up by special interests all over the state to prevent this,” Greitens said. Read more
Express Scripts Holding Co. says it is losing its largest client, Anthem Inc., following allegations that Express Scripts overcharged the health insurer. Anthem intends to move its business when its current contract with Express Scripts expires at the end of 2019. Last year, Anthem represented 17 percent of the $102 billion in revenue brought in by Express Scripts, the St. Louis County-based pharmacy benefits manager. Read more
Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been undervalued, a view bolstered by AT&T Inc.’s lofty $1.6 billion purchase of Straight Path Communications Inc., according to people familiar with the matter. Executives have been bandying about ways to better reflect the value of Sprint’s airwave licenses, even entertaining the notion of spinning off some spectrum into a separate, publicly traded company. Read more
Missouri is introducing tax-free savings accounts to help families financially support people with disabilities. Missouri Treasurer Eric Schmitt announced the new initiative, called the Missouri Achieving a Better Life Experience Program, on Monday. The program will allow people with disabilities or their families to open tax-exempt savings accounts to pay for qualified expenses. Read more
The U.S. Department of Transportation has given preliminary approval to the city of St. Louis’ request to explore the privatization of St. Louis Lambert International Airport. The city’s next steps include choosing a private operator for the airport and negotiating an operations agreement, the FAA said. Any agreement must also be approved by the airlines and city boards. Read more
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