WellPoint boosts debt offering to $1 billion
Proceeds from the sale will be used for working capital and general corporate purposes, including debt repayment, the company
said in a prospectus.
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Simon Property plans debt sale to fund tender offer
Simon Property Group Inc., the largest U.S. shopping-mall owner, plans to sell $750 million of notes to fund a tender offer
for outstanding debt for the second time this year.
Daniels: Stimulus should focus on companies, not states
Indiana Gov. Mitch Daniels said he opposes more stimulus such as aid to states to keep teachers hired and to expand credit
to small business, while favoring incentives to revive private hiring and investment.
Consumers facing record prices for bacon
The U.S. hog-breeding herd is near the smallest on record, and wholesale pork-belly prices are up 72 percent in the past year,
to the highest price since at least 1998.
WellPoint, peers focus on health reform rules, campaign
WellPoint Inc., UnitedHealth Group Inc. and three other health insurers, criticized by Democrats during the health care reform
debate, are seeking to influence how the new law will be implemented, and possibly change it, by campaigning for supportive
congressional candidates.
Senator asks Zimmer for info about product complaints
Inquiry stemmed from an article in the New York Times about a dispute between the Warsaw-based maker of artificial hip and knee joints and two of its consultants.
Lilly among bidders for Denmark company, source says
Copenhagen-based health-care company Ascendis Pharma A/S received offers of about $400 million, an unidentified source said.
Ascendis may choose a final bidder by early September.
Investors fear insurers’ rosy outlook will boost regulators’ scrutiny
Indianapolis-based WellPoint Inc. became the third U.S. health insurer this month to increase its 2010 profit forecast, stirring
investor concern that state and federal regulators may increase scrutiny of industry pricing.
Proposal: Link federal aid to performance of ITT, peers
The Obama administration released a proposal that would tighten for-profit colleges’ access to federal student aid,
threatening an industry that received $26.5 billion in U.S. funds last year. Carmel-based ITT Educational Services
is among those potentially affected.
Steel Dynamics profit up, but misses analysts’ estimates
Net income was $49.2 million, compared with a net loss of $16 million a year earlier, the Fort Wayne-based steelmaker said
Monday in a statement.
NCAA must face ticket lottery lawsuit, court rules
The National Collegiate Athletic Association must face a lawsuit by consumers claiming the organization unlawfully profits
from a ticket lottery.
Lilly’s Alzheimer’s gamble takes aim at $10 billion in patent losses
Both of Lilly’s late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers
to be a main contributor to Alzheimer’s. A drug that stops or reduces memory loss caused by Alzheimer’s may be worth more
than $5 billion
a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
Connecticut to probe WellPoint security breach
Attorney general seeks more details on the breach, which may have compromised financial and health information on almost 500,000
people. He also calls on the Indianapolis-based insurer to provide affected customers with credit monitoring and theft protection
services.
Grassley asks Lilly, peers about whistleblower treatment
U.S. Senator Charles Grassley asked 16 drugmakers, including Eli Lilly & Co., Pfizer Inc. and AstraZeneca Plc, to reveal
how they treat whistleblowers who file complaints under the False Claims Act.
FedEx wins dismissal of some claims in drivers’ suit
FedEx Corp. won partial dismissal of a class-action lawsuit brought by contract drivers who contend they are entitled to full
benefits because the company treats them as employees.
Cummins looks to boost India sales by 40 percent
Cummins Inc., the Columbus-based maker of diesel truck engines and generators, expects to boost India sales about 40 percent
this year as economic growth spurs road traffic and demand for electricity.
Lawmakers approve big Wall Street revamp
Bill headed for Obama's desk would reform financial regulation in effort to protect consumers, curb risks, boost surveillance
of threats to markets, and give regulators more emergency powers to avoid future bank bailouts.
WellPoint exec sees health insurer ‘oligopoly’ coming
U.S. health insurers are “moving towards an oligopoly,” a process that this year’s health-care overhaul
will accelerate, the investor-relations chief at WellPoint Inc. said Thursday.
Senator: For-profit colleges require tougher oversight
For-profit colleges like ITT Technical Institutes need tougher oversight and regulation, according to a report from a Democratic
Senate committee chairman that questions the industry’s advertising spending, tuition costs and reliance on taxpayer
money.
National new-home sales plunged to record low in May
Purchases of new homes in the United States fell in May to a record low as a federal tax credit expired, showing the market
remains
dependent on government support.