Oil prices fall 15%; The decline of one more Japanese icon: Toshiba; Italy gets Google to cough up $335 million

Profitable Moment   The dismantling of universal health coverage The rollback of Obamacare began today as the Republican-controlled House passed a bill reversing many of the plans features.   Credit where credit is due: Donald Trump, having faced initial defeat, has pulled a rabbit out of the hat, and is on the road to achieving the change he promised (it's not for me to say if that is good or bad).   The law, as passed, will not be the final version. There is no way the Senate will let many of its provisions become law.    Health care which makes up a good 15% of the economy is about to undergo a major shock as everything changes...again.    Finally, if the forecasts are right, the number of medically uninsured people in the US will rise dramatically. As it stands, the United States will once again become one of the only leading economies that does not have universal medical care. -Richard.Quest@cnn.com  What's new... what's next   By Matt Egan, Julia Horowitz, Patrick Gillespie and Paul R. La Monica of CNNMoney 1. Investors betting on a Macron win in France Third time's a charm? The markets got Brexit wrong. They underestimated Trump. But investors think centrist Emmanuel Macron will win Sunday's French presidential election. He has a big lead over far-right candidate Marine Le Pen and outshined her in their last debate. French stocks and the euro popped as a result. If the polls are right, investors should cheer. If not, volatility could return and you may see headlines like "Le Pen is mightier than Macron." 2. Italy gets Google to pay millions in back taxes Google has buckled (again) under government pressure and agreed to pay millions in tax arrears in Europe. Italy's tax agency confirmed that Google would pay 306 million euros, or $335 million, to cover taxes between 2009 and 2015. The company worked out a similar deal with the U.K. a year ago, forking over $185 million to British tax authorities. And, in a government win, Google will now begin paying taxes in Italy on the revenue it makes inside the country. 3. Crude getting crushed: Down 15% in 3 weeks The OPEC bounce has disappeared from the oil market. Oil is now down 15% in just three weeks to the lowest level since OPEC finalized a deal to slash production in November. So what gives? The epic supply glut that the OPEC deal was supposed to fix remains intact. Declining output from OPEC has been countered by resurgent US shale production. Demand from American drivers has also unexpectedly declined.  4. Toshiba: A Japanese icon's fall from grace It was once known for pioneering innovative products -- such as Japan's first light bulb almost a century ago. But now Toshiba is selling its crown jewels just to survive as it faces stiff competition from China and South Korea, which can make similar products more cheaply. Toshiba faces a potential financial meltdown. The company isn't alone in Japan: Sharp, Olympus and other iconic brands in the country face similar challenges.   5. Quick Takes: 154-proof gin? Bombay Sapphire recalled in Canada for too much alcohol Brazilians are drinking more beer -- and that's great news for AB InBev Hard to tun down this friend request. Facebook offers India cheap Wifi Alphabet/Google's Eric Schmidt says H1-B visa cap is 'stupid' Vroom! Ferrari profits boosted by sales of V12 supercars Ammo sales slump under Trump as gun buyers no longer fear tough laws Affordable laptops in schools: Google, Apple and Microsoft battle for students   6. What's next: Did hiring rebound in April? The big focus on Friday morning will be on the April jobs report, which is due out at 8:30 a.m. ET. The hope is that job growth accelerated after payrolls grew by a lackluster 98,000 in March. Of course, the US unemployment rate remains the envy of much of the world, sitting at just 4.5%, the lowest since 2007.   Another blow to oil prices? Beaten-down oil bulls will be checking the Baker Hughes oil rig count at 1 p.m. ET on Friday for more evidence of an uptick in US drilling activity. The tally of oil rigs has more than doubled over the past year, adding to the lingering supply glut. Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences