U.S. manufacturing activity contracts for sixth straight month
Thirteen industries reported contraction in September, led by printing, plastics and rubber, and wood products. Five sectors expanded.
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House OKs permit exemption for semiconductor projects, sending bill to Biden
The U.S. House approved legislation on Monday that would address concerns that environmental reviews and lawsuits will delay construction of domestic chip factories.
Eli Lilly requests records of people who took copies of its weight-loss drug
The letter is the latest sign that the battle between the brand-name drug manufacturers and the companies that make and sell the compounded versions has intensified.
Walmart plans instant bank payments, cutting out card networks
The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.
UAW moves toward Stellantis strike as tensions escalate
The United Auto Workers will ask members to green light a strike against Stellantis NV, escalating an already tense standoff with one of the world’s largest car manufacturers.
Amazon boosts warehouse worker pay by at least $1.50 an hour
Employees will start receiving Prime, Amazon’s speedy shipping and video subscription service, as part of their compensation beginning early next year, the company said.
Valparaiso University selling Georgia O’Keeffe painting to spruce up dorms
“Rust Red Hills” by the famed modernist painter is estimated to be worth as much as $15 million.
Traders bet on quarter-point Fed cut this month after rise in core inflation
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% from July and 3.2% from a year ago, Bureau of Labor Statistics figures showed Wednesday.
Manufacturing activity contracts for fifth straight month
The Institute for Supply Management’s manufacturing gauge fell to its lowest level since May 2020.
Study: Lilly’s Zepbound cut risk of diabetes by 94% in obese people
The longest continuous study of Indianapolis-based Lilly’s drug Zepbound to date included more than 1,000 patients.
Next challenge for U.S. charging network: congestion
From a potential congestion standpoint, the U.S.’s charger-to-EV ratio is one of the worst in the world.
Circle K operator seeks to buy $31B owner of 7-Eleven chain
A merger would create the world’s top operator of roughly 100,000 convenience stores, with hundreds of those stores in Indiana.
SEC fines firms $393M in latest WhatsApp probe cases
The fines add to the billions of dollar that big banks previously agreed to pay the SEC and the U.S. Commodity Futures Trading Commission to settle similar investigations into use of messages on personal phones and WhatsApp.
Eli Lilly taps blue-chip bond market to fund Morphic acquisition
Lilly is buying Morphic for $3.2 billion to gain experimental therapies for inflammatory bowel disease and other chronic illnesses.
Novo Nordisk’s Wegovy sales hit by competition from Eli Lilly
Novo is vying with Indianapolis-based Lilly for supremacy in the pharmaceutical industry’s fastest-growing new business, obesity drugs. The market is expected to reach $130 billion by the end of the decade.
Lilly CEO says weight-loss drug shortage to end ‘very soon’
Meanwhile, Lilly announced that Zepbound improved the long-term health of patients with obesity-related heart failure in a study.
Novo’s diabetes drug shows mixed results in Alzheimer’s trial
Victoza yielded mixed results in a mid-stage study of Alzheimer’s disease, failing to meet its primary goal while showing hints that larger trials of similar drugs may be successful.
Harris focuses on vice presidential search as deadline nears
Public speculation about Harris’ selection has swirled around a cast of governors and senators, many from competitive swing states that could determine the outcome of the election.
Hims & Hers adds longtime Novo executive to board amid weight-loss bet
Shortages of brand-name drugs made by Novo and Eli Lilly and Co. have allowed pharmacies to make what are essentially copies, and telehealth companies like Hims are selling them to patients at a steep discount.
Amazon rakes in $14.2B for Prime Day sale, up 11% from a year ago
Top-selling products included protein shakes, Amazon’s Fire TV Stick streaming device and Glad brand trash bags, according to Numerator.