U.S. small-business optimism drops on outlook for economy, credit
A National Federation of Independent Business index of sentiment fell to a four-month low in September.
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U.S. firms cut fewer jobs in third quarter amid holiday ramp-up
The report adds to evidence that the U.S. labor market remains resilient even in the face of aggressive Federal Reserve interest-rate increases, though it also comes as various datasets increasingly send conflicting signals.
Ozempic causing ‘slight pullback’ by shoppers, Walmart says
Walmart Inc. says it’s already seeing an impact on shopping demand from people taking the diabetes drug Ozempic, Wegovy and other appetite-suppressing medications.
Drivers buying new cars to replace older models, even with surging prices
New-car sales are up about 15% this year, with pent-up demand fueling sales. The strike has yet to put a crimp in supply or demand for new cars, but industry executives and dealers are growing wary.
China restrictions issued on companies getting chip funds
It’s the last regulatory hurdle before the Commerce Department hands out more than $100 billion worth of federal aid intended to boost domestic chipmaking while containing China’s technological advancement.
ChatGPT usage rising again as students return to school
The increase is perhaps the clearest indication yet that the chatbot’s usage is directly affected by the school calendar in the United States.
U.S. hotels working with 238K fewer workers than before pandemic
Nationally, many hotels say they have been trying to increase head count—they just haven’t had much luck. A May survey by the American Hotel & Lodging Association showed 82% of hotels were experiencing staffing shortages, most notably in housekeeping.
Eli Lilly sues businesses selling knockoff versions of Mounjaro
Lilly is suing medical spas, wellness centers and compounding pharmacies in various U.S. states that sell unapproved versions of its blockbuster diabetes drug, which is frequently used off-label for weight loss.
UAW strike strategy aimed at profitable vehicles, minimum impact on union funds
The UAW’s initial list of demands was projected to cost each of the companies $80 billion over four years, according to people familiar with the companies’ estimates.
Party City cleared to exit bankruptcy, avoiding fate of retail peers
As part of the Chapter 11 process, the retailer—which has a half-dozen area stores—closed more than 60 stores across the country, but was able to keep the vast majority of its more than 700 stores open.
U.S. pump prices reach highest seasonal level in more than a decade
Fuel markets have been squeezed, with U.S. national stockpiles staying largely below seasonal norms since around mid-July.
Makers of billion-dollar drugs set to face their first U.S. price negotiations
Analysts expect Johnson & Johnson’s Xarelto blood thinner and Indianapolis-based Eli Lilly and Co.’s Jardiance for diabetes to be among the medications chosen.
OpenAI unveils ChatGPT for businesses, stepping up revenue push
The rollout of ChatGPT Enterprise is a move forward in OpenAI’s plans to make money from its ubiquitous chatbot.
3M agrees to pay more than $5.5B over combat earplugs made in Indianapolis
The settlement would avert a potentially much larger liability that 3M sought to curb through a controversial bankruptcy case involving Indianapolis-based Aearo Technologies that ultimately collapsed.
Auto union boss wants 46% raises, 32-hour workweeks in ‘war’ against Detroit carmakers
If it doesn’t have contracts with General Motors, Ford and Stellantis by the Sept. 14 deadline, the UAW could strike all three simultaneously—something it has never done.
More than one-third of office desks globally sit empty all week long
The findings illustrate the challenges faced by organizations as they assess office-space needs.
Almost half of Americans see automation replacing their jobs
Younger workers and Blacks and Hispanics consider themselves most exposed, while baby boomers and white Americans are less concerned, based on the survey.
S&P decision to ax ESG scores from bond ratings splits market
S&P recently updated its approach to incorporating environmental, social and governance considerations into credit ratings, ditching an alphanumerical scale it introduced in 2021 and instead going back to relying only on text descriptions.
Property loans are so unappealing that banks want to dump them
This year’s rise in borrowing costs has made commercial real estate one of the hardest-hit areas of the economy. Property sales, especially for office buildings, have slowed to a trickle, giving landlords and lenders few markers to determine the value of certain assets.
Lawsuits show emerging rift between employers, health insurers
After years of ever-inflating medical costs, American companies and union benefit plans have alleged in a series of lawsuits that the country’s biggest health insurers, including Indianapolis-based Elevance Health, are squandering their money.