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.
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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.
Elevance Health stock falls as medical costs show signs of rising
The Indianapolis-based health insurance giant posted solid second-quarter results, but emerging pressure in Medicaid appeared to spook investors.
AutoNation warns cyberattack put big dent in quarterly profit
AutoNation said that certain ancillary services are still limited or unavailable, including those that help automate ordering, scheduling, payment and reporting processes.
Hacked firm says all auto dealers should be live again by July 4
CDK suffered two cyberattacks that forced its systems offline for days, slowing down everything from scheduling, service repairs, parts deliveries and car purchases at auto dealerships in both the U.S. and Canada.
Medicare cutting prices of 64 drugs that outpaced inflation
Some of America’s seniors will see their out of pocket costs fall for more than five dozen drugs—including treatments for osteoporosis and cancer—as part of the White House’s crackdown on rising pharmaceutical prices.
Weight-loss-drug frenzy lures rich Indians to brave the gray market
The race to score blockbuster weight-loss drugs like Eli Lilly’s Mounjaro and Zepbound is pushing one of the world’s largest population of people with obesity to creative lengths.
Michigan’s largest insurer to drop weight-loss drug coverage
Obesity drugs such as Novo’s Wegovy and Lilly’s Zepbound are exploding in popularity. But with list prices of $1,000 a month or more, insurers are balking at the prices and trying to limit how widely they’re used.
Moderna’s flu-COVID combo shot hits goal in late-stage trial
The company is one step closer to a more convenient jab that could help combat vaccine fatigue.
Class-action lawsuit against NFL by ‘Sunday Ticket’ subscribers gets underway
The class-action case covers more than 2.45 million commercial and residential subscribers from 2012 to 2022. The NFL could be liable for up to $21 billion if it loses.
EBay to stop taking American Express cards after fee dispute
The two firms have been embroiled in negotiations about the merchant discount rates—also known as interchange fees—charged by Amex at the point of sale. The fees have long been a headache for merchants.
Britain poised to offer Eli Lilly’s weight-loss drug to patients
If the guidance is confirmed, Mounjaro will challenge the dominance of Novo’s Wegovy in the United Kingdom.