Weight-loss drug shortages lead to tracker from startup
Ro’s tracker is the latest in the frenzy surrounding weight-loss drugs made by Novo Nordisk and Indianapolis-based Eli Lilly and Co.
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China clears Eli Lilly’s weight-loss drug, only for diabetes now
The pharmaceutical weight-loss market is predicted to reach at least $100 billion by 2030, according to Goldman Sachs.
Hims debuts $199 weight-loss shots, takes aim at Lilly’s Zepbound
Hims can offer the prescription weight-loss drugs because U.S. regulators have rules that allow pharmacies to make copycat versions of drugs in shortage, a practice that’s known as “compounding.”
Convention centers bounce back as cities borrow for makeovers
The travel industry is roaring back from a pandemic slump, putting pressure on local governments to ensure their cities are equipped with the best facilities to accommodate swanky concerts, sporting events and conferences.
Study: Amazon warehouse workers say they struggle to afford food, rent
Amazon is the second-largest private-sector employer in the U.S. behind Walmart Inc. and accounts for about 29% of the U.S. warehousing industry workforce, the researchers estimated.
U.S. holiday road trips seen hitting record in post-COVID boom
Notably, the number of expected travelers this year surpasses 2019 levels, showing that the travel industry has recovered from the pandemic and is thriving again.
In suit co-led by Indiana, red states challenge Biden’s coal-plant pollution curbs
Indiana Attorney General Todd Rokita called the effort an overreach “that threatens the reliability of our power grid and will once again jack up utility costs for regular, everyday Hoosiers.”
U.S. renters see chance of owning a home at record low, survey shows
Amid elevated prices, high mortgage rates and difficulty saving money for a down payment, only about four in 10 renters think that they will be able to buy a home.
National accounting firm accused of fraud affecting more than 1,500 SEC filings
One of the nation’s most prolific auditors, BF Borgers faces permanent suspension from practicing as accountants before the SEC and a total of $14 million in fines.
Obesity drug rivals aim to unseat Zepbound, Ozempic
Eli Lilly and Novo are leading now, but there are multiple drug candidates waiting in the wings that could disrupt that duopoly in the future.
U.S. consumer sentiment falls as inflation expectations climb
The figures highlight the toll stubborn price pressures, along with higher borrowing costs, are taking on consumers.
Supreme Court backs suits over discriminatory job transfers
The justices unanimously ruled Wednesday that people suing under the main federal job-bias law don’t have to show a transfer caused them a significant disadvantage.
Retail sales surge as Americans buy despite higher prices
Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.
Visa, Mastercard reach $30 billion swipe-fee deal with merchants
In recent years, merchants have grown increasingly vocal about their opposition to credit card fees, which typically amount to about 2% of a purchase and totaled more than $100 billion last year.
Summer gasoline pump prices set to hit $4 a gallon
Futures and pump prices have been boosted the past few weeks by the transition to summer-grade gasoline and as inventories shrink to the lowest level since December.
Cocoa prices soar, top copper for first time
Poor harvests on the back of bad weather and crop disease at West African growers, where most of the world’s cocoa is grown, and little sign of production relief elsewhere have left the industry in a bind.
Big grocery stores profited from pandemic more than smaller rivals, FTC says
The report, which collected information confidentially from retail giants Amazon.com Inc. and Walmart Inc. as well as chains like Kroger Co., concluded the largest grocery stores gained a competitive advantage over small competitors.
Target starts paid membership program to compete with Amazon, Walmart
The new program, Target Circle 360, launches April 7 at a promotional rate of $49 a year through May 18, when it rises to $99 for members without a Target credit or debit card.
UPDATE: Macy’s to close 150 stores over 3 years as it fights takeover bid
Macy’s Inc., which did not release a list of stores it will shutter, also said it will expand its higher end Bloomingdale’s and Bluemercury chains.
Meta, IBM create industrywide AI alliance to share technology
The group also will look to increase the number of open source AI models—rather than the proprietary systems favored by some companies—develop new hardware and team up with academic researchers.