Musk ousted as Tesla chairman in SEC settlement, but will remain CEO
The settlement was reached two days after the SEC sued the billionaire over his tweeted claims to have had the funding and investor support to buy out stockholders at $420 a share.
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Migraine drug from Eli Lilly approved by FDA
Eli Lilly and Co. received clearance Thursday from U.S. regulators for a new migraine drug that will be the third in a promising class of therapies for patients who suffer from the recurrent, painful headaches.
Kavanaugh angrily denies assault allegation after Ford testimony
Supreme Court nominee Brett Kavanaugh testified that claims of sexual misconduct amount to “a calculated and orchestrated political hit, fueled with apparently pent-up anger about President Trump and the 2016 election.”
U.S., Japan agree to negotiate a free trade agreement
Japanese Prime Minister Shinzo Abe resisted for almost two years the push to start bilateral trade talks with the United States, but President Donald Trump’s threatened auto tariffs forced him to reconsider.
Indiana Uber drivers to receive $100 each from settlement
The settlement, spanning all 50 states and the District of Columbia, is the biggest data-breach payout in history, and marks the most sweeping rebuke by regulators against Uber, which earned a reputation for skirting rules in its push to dominate the ride-hailing market.
United States unlikely to wait for Canada on new NAFTA pact
The United States is moving forward on its bilateral trade deal with Mexico even if Canada is left out because negotiators can’t resolve their sharp differences, U.S. Trade Representative Robert Lighthizer said.
Notre Dame’s endowment value hits record $13.1 billion on gains
The University of Notre Dame’s endowment posted a 12.2 percent annual investment gain.
Starbucks plans ‘significant changes’ to company’s structure
Starbucks Corp., on a mission to move faster, is planning an organizational shake-up, including corporate layoffs, as the coffee chain tries to reverse stagnant sales and rekindle investors’ interest.
Sirius to acquire Pandora in $3.5B online radio deal
The combination will help Sirius XM expand beyond an audience that largely listens to the satellite radio company’s programs while driving.
As aid checks go out, farmers worry tariff bailout won’t be enough
The Trump administration is providing up to $12 billion in emergency relief funds for American farmers, with roughly $6 billion in an initial round.
Second woman makes Kavanaugh sex misconduct claim
The claim dates to the 1983-84 academic school year, when Kavanaugh was a freshman at Yale University, the New Yorker reported.
Walmart mulls perks to attract new hires in tightening labor market
The nation’s biggest private employer asked hourly workers to rate potential incentives, including a sign-on bonus, child-care services, tutoring, pet care and gym memberships.
UPDATE: Elanco shares rise 50 percent in first day after $1.5B animal-health IPO
The Eli Lilly and Co.-owned animal medicine maker’s shares rose to $36 each at closing Thursday, up from their $24 offering price.
Lilly’s Elanco animal-health business raises $1.5 billion in IPO
Greenfield-based Elanco Animal Health Inc. raised more than expected in its initial public offering, pricing its shares above the marketed price range.
Delta joins United, JetBlue in raising checked-bag fees
Thirteen U.S. carriers collected $4.6 billion in bag fees alone last year, according to U.S. Transportation Department statistics.
Indiana-based Thor Industries bets $2.5B on RV growth in Europe, China
The deal would make Airstream parent Thor Industries the largest RV maker in the world.
Competitor beats Lilly to market with migraine drug approval
The competition for the multi-billion dollar migraine market is set to heat up with the FDA expected to decide on Lilly’s migraine therapy next month.
Verizon ready to roll out 5G internet, TV service in Indy, 3 other cities
Verizon is in a race with AT&T Inc. to introduce the first 5G wireless service—a standard that promises connection speeds between 10 and 100 times faster than today’s cable.
U.S. small business optimism hits highest level in history
Small businesses are increasingly optimistic as the economic expansion enters its 10th year and the Trump administration prioritizes industry deregulation and tax cuts.
Walmart expects to double its truck-driver recruitment spending
Amid heavy demand for truckers, Walmart wants to reduce its driver hiring process from 70 days to 30, and pilot programs to do that are under way in Indianapolis and the company’s hometown of Bentonville, Arkansas.