Gantenerumab’s demise is a boost for Indianapolis-based Eli Lilly and Biogen, which are also developing treatments for Alzheimer’s, said Tim Anderson, an analyst at Wolfe Research. Lilly shares were up 1.8% at midday.
A Twitter user posing as Indianapolis-based Eli Lilly falsely tweeted that insulin was now free, prompting an apology from the actual company.
Suppliers say they remain concerned about the retailer’s survival and have cut off or cut back on merchandise they ship to the company.
The report suggests demand for workers remains robust despite rapid interest-rate hikes and a darkening economic outlook. Layoffs, while rising, are still historically low, and competition to fill millions of vacant positions has driven rapid wage gains.
About 88% of all home buyers were white/Caucasian, 6 percentage points more than in 2021.
U.S. service providers expanded in October at the slowest pace since May 2020 as orders growth and business activity moderated, suggesting the broader economy continues to cool.
The average annual percentage rate on new-car loans was 6.3% last month, the highest since April 2019, according to Edmunds.
Ten manufacturing industries reported a contraction in October, led by furniture, wood products, paper products and textiles. Eight industries expanded.
The apparel company founded in China is pushing to get its ultra-low priced merchandise on doorsteps more quickly by opening more North American distribution centers, including a major hub in Whitestown.
Rising interest rates, inflation and recession risks have eroded consumer confidence and left buyout firms facing a new reality of higher financing costs and potentially lower returns.
Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.
The biggest U.S. chain of car dealerships said used-vehicle prices are softening as rising interest rates curb demand from more price-sensitive buyers.
A leading congressional committee opened a probe of AT&T, Charter, Dish Network, T-Mobile and Verizon on Wednesday, aiming to explore if these and other telecom giants are “abiding by the law” in administering a federal aid program.
The guidance announced Wednesday by the Consumer Financial Protection Bureau could deal a significant blow to banks that earned nearly $8.5 billion from the charges last year.
Most economists expect Americans to keep spending at a relatively lackluster pace through the end of the year. Overall uncertainty about consumer spending is weighing on a range of companies.
Gasoline prices, one of the most visible signs of inflation, are a political headache for President Biden, who in recent weeks has repeatedly warned oil companies against raising costs.
The combination of the nation’s No. 2 and No. 4 grocery chains is likely to face a lengthy antitrust review with an uncertain outcome.
Overall shelter costs in the United States saw their biggest year-over-year increase since 1982.
The report stresses how high inflation has broadened across the economy, eroding Americans’ paychecks and forcing many to rely on savings and credit cards to keep up.
Prices paid to U.S. producers rose in September by more than expected, suggesting inflationary pressures will take time to moderate and keeping the Federal Reserve on its aggressive interest rate-hike path.
