Elevance cuts outlook as higher costs weigh on industry
Elevance’s membership declined slightly from the first quarter, with drops in Medicaid and fewer people purchasing Affordable Care Act plans.
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U.S. retail sales surge in broad advance, topping estimates
Ten out of 13 retail categories posted June increases, surprisingly fueled by motor vehicle sales, which climbed after back-to-back declines.
FDA considers trading faster drug reviews for lower prices
The idea could help the administration achieve one of President Donald Trump’s main health-care goals: ensuring foreign countries aren’t getting a better deal on drugs.
FDA begins sharing rejection letters drugmakers often kept secret
Investors have long asked the FDA to share its reasons for rejecting drugs, arguing that companies can use the agency’s silence on the matter to mislead the market.
Restaurants, bars say they’re getting squeezed by rising music licensing costs
Businesses say the rising licensing costs have become overwhelming, and some question whether it’s even worth playing music at all.
Lilly drug saves muscle when added to Wegovy weight-loss shot
The combination offers a potential solution to one of the key problems that’s emerged with popular obesity shots.
Kroger sales beat expectations on steady grocery spending
The Cincinnati-based grocery chain, which has more than 100 stores in Indiana, said it plans to close about 60 stores nationwide over the next 18 months.
Temu sales plunge 25% in United States, but rival Shein sees growth
Temu’s sales decline in the U.S. is deepening as the online marketplace drastically cuts spending on advertising targeting American consumers, signaling a shift in focus after President Donald Trump’s tariff barrage.
Retailer At Home files bankruptcy, with lenders set to take over
The chain has more than 250 stores in the United States, including four stores in the Indianapolis area, that sell everything from patio furniture to picture frames and washable rugs.
Aluminum and steel prices surge after Trump says he’ll double tariffs
President Trump hopes the increased levies will protect margins for domestic mills and spur investment in new production capacity.
In upgraded revision, U.S. economy fell 0.2% in first quarter
First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes.
Trump advisers downplay court ruling, cite other tariff options
Analysts said the implications of the court ruling may be limited for the trade talks the Trump administration is engaged with, given the other tariff options available.
Restaurants turn to culinary supply specialists for help navigating trade war
Tariffs, which are set to drastically rise in July when a 90-day pause expires, have prompted U.S. restaurants to look for help finding ingredient substitutes to keep a lid on costs.
Salesforce agrees to buy Informatica in deal worth $8B
The deal could be strategic given the intensifying competition in the market for artificial intelligence-driven databases.
United States blocked from revoking visa status of foreign students
The ruling prohibits the administration from canceling the legal status of international students without doing an individualized review and following the criteria laid out in federal regulations.
Novo to sell Wegovy at $199 a month as copycat availability ends
On Thursday, pharmacies were supposed to stop making the copies of the medications that had become popular during shortages of the brand-name drugs.
Novo Nordisk inks $2.2B deal to develop weight-loss pill to rival Lilly’s orforglipron
Indianapolis-based Eli Lilly & Co. announced promising results from a large study of its own tablet in diabetes patients last month.
IRS lost 31% of tax auditors in DOGE downsizing, watchdog finds
The IRS downsizing is due to a series of moves, spurred by Elon Musk’s Department of Government Efficiency, to cut the agency’s workforce.
Tariffs double some prices on retail sites Temu, Shein
There are no import surcharges on items that are already available in U.S. warehouses, keeping the prices of those goods generally stable, at least for now.
Stocks continue rally as China tariff cut considered
President Trump told reporters Tuesday that he planned to be “very nice” to China in any trade talks, and that tariffs would drop if the two nations were able to reach a deal.