Authentic Brands, owner of Forever 21 and Brooks Brothers, files for IPO
Indianapolis-based Simon Property Group Inc. is among Authentic Brands Group’s largest shareholders.
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U.S. rents still rising at rapid clip during busy time for lease renewals
The median national rent climbed 9.2% in the first half of 2021, according to Apartment List, and is still on the way up.
Investors are raising $100 million to buy unloved antiques
The demand for antique furniture is low, but a group of investors is betting it will increase again in the future.
UPDATE: Lilly to seek FDA approval for potential Alzheimer’s drug
Eli Lilly and Co. shares jumped more than 9% Thursday morning after it received “breakthrough therapy” designation for donanemab from the U.S. Food and Drug Administration, putting the drug on a path that could expedite its development.
Jeweler Alex and Ani files bankruptcy after rapid expansion
Indianapolis-based mall owner Simon Property Group is among the retailer’s largest unsecured creditors; it is owed more than $3 million in rent payments.
Lilly’s stock gets big boost from competitor’s new Alzheimer’s treatment
Shares of Biogen competitors soared after aducanumab became the first drug cleared by the U.S. Food and Drug Administration to slow the course of the mind-wasting disease that afflicts 6 million Americans.
Workers concerned about retailers ditching masks on vaccine honor system
Walmart, along with Costco Wholesale Corp. and Trader Joe’s, were among the first companies to ease their mask policy for vaccinated shoppers following a recommendation by the U.S. Centers for Disease Control and Prevention.
Microsoft investigated Gates’ involvement with employee
Dow Jones reported that Microsoft’s directors found Bill Gates’ involvement with the female employee to be inappropriate and decided last year that he had to step down from the board, citing people familiar with the matter who were not identified.
Rental companies buy up used cars as chip crisis deepens
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows that they’re 52% higher than they were a year ago.
COVID once spared the young, but more are now being hospitalized
Faster-spreading variants of COVID-19 are sending more younger people to the hospital. Fatalities remain low, but doctors say the virus is now making the young sicker, some gravely.
Target to spend $2 billion with Black-owned companies
The cheap-chic retailer will also add products from more than 500 Black-owned companies across its aisles and help Black vendors expand their sales in big-box retail.
COVID mutants multiply as scientists race to decode variations
A key mystery plumbed early-on by top scientists has been what type of virus the coronavirus will prove to be. So far, it looks more similar to influenza, which shape-shifts all the time and requires annual revaccination, than it does measles.
U.S. forges ahead on $1 billion tariff plan over digital taxes
Goods entering the U.S.—ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies—could face tariffs of as much as 25% annually.
U.S. manufacturing surges most since 1983, underscoring rebound
All but one of 18 manufacturing industries reported growth in March, led by textiles, electrical equipment and appliances, machinery and computers and electronic products.
Biden to reveal major spending plan that calls for revamp of tax code
President Joe Biden has made clear his plans will include tax-policy changes to help fund what aides have laid out as a roughly $3 trillion long-term program.
Chip shortages force more cuts at North American auto plants
Consultant AlixPartners has said the global chip shortage could cost automakers $61 billion in lost sales this year. The recent setbacks could further delay an expected second-quarter recovery in output.
Survey: Bosses clueless that workers are miserable, looking to leave
The data found burnout is widespread—54% of workers said they are overworked and 39% said exhausted.
Stores that defined American malls bet on freestanding future
Retailers are abandoning enclosed malls in growing numbers as the rise of online shopping transforms the industry—a trend that has accelerated during the coronavirus pandemic.
Amazon jumps into health care with telemedicine initiative
The tech giant announced it will immediately expand Amazon Care to interested employers in Washington state. By the summer, it will expand nationally to all Amazon workers and to private employers across the country who want to join.
Lilly’s Alzheimer’s drug shows modest benefit in mid-stage trial
Eli Lilly and Co. on Saturday morning presented highly anticipated details from a mid-stage study showing that its experimental drug slowed Alzheimer’s disease progression over about 18 months.