Amazon Prime Day drives all online sales up 6.1%, missing estimate
Amazon said the first day of the sale was the biggest in its history and that shoppers purchased more than 375 million items over two days.
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Money-market funds brace for biggest regulatory revamp in years
Conference rooms are being reserved and snacks stockpiled as participants in the $5.5 trillion space await the U.S. Securities and Exchange Commission’s vote Wednesday on rules reshaping the money-market industry for the third time since 2008.
Weight-loss drugs probed over reports of suicidal thoughts
The EMA said it would consider whether its review should be extended to other drugs in the same class, known as GLP-1 receptor agonists. Indianapolis-based Eli Lilly and Co.’s Mounjaro is among them.
Fed’s Powell says one or two more rate hikes might be needed in 2023
Speaking on Capitol Hill for a second day, Federal Reserve Chair Jerome Powell said returning U.S. inflation to 2% is crucial to support the long-term health of the U.S. economy.
Men returning to offices faster than women, new report shows
The share of men who worked at least partly at home on an average day dropped to 28% in 2022 from about 35% the year before, results of an annual survey published Thursday by the Bureau of Labor Statistics showed.
U.S. factory output nearly stalls as sector struggles for traction
The latest federal report suggests manufacturers are growing cautious in the face of tepid global demand and equipment spending.
Four-day workweek becoming common at small businesses
As larger companies continue to harden their return-to-office mandates, the flexibility uniquely offered by small businesses might become increasingly attractive to job seekers.
U.S. crypto crackdown reaches fever pitch as SEC sues Coinbase
The Securities and Exchange Commission widened its sweeping crackdown on crypto by accusing Coinbase Global of running an illegal exchange, a move that could make it harder for the industry to operate and for U.S. citizens to trade.
Salesforce gives forecast for slowing sales growth in push for profit
Shares in Salesforce tumbled Thursday after the software company signaled it isn’t growing as fast as it used to while shifting its focus to generating a bigger profit.
Number of colleges in distress up 70% from 2012
Authors of the report attributed the schools’ challenges to factors including inflation, higher interest rates, the threat of tuition cuts during a recession and declining domestic enrollments.
U.S. economy headed for downturn in second half of 2023, forecasters say
Economists now see a sharper decline in private investment in the second half of the year than previously projected.
Home construction rise in Marion County bucks area trend
The Indianapolis area continued to see a slump in residential construction last month despite a big jump in single-family building permits in Marion County.
Amazon plans to add ChatGPT-style search to its online store
Amazon.com is rivaling efforts by Microsoft and Google to weave generative artificial intelligence into their search engines.
Economy shows signs of cooling, with easing inflation, higher jobless claims
Applications for unemployment benefits climbed to a more than one-year high and wholesale inflation continued to moderate, adding to signs of softening in the economy.
New EV models drive up North American factory production
In the first quarter, North American factories produced almost 29,000 cars in models that weren’t being manufactured a year ago.
U.S. productivity declines more than forecast, labor costs climb
Quarterly productivity figures are extremely volatile, but if the latest decline is sustained, it risks keeping inflationary pressures elevated.
Eli Lilly says experimental drug slows decline from Alzheimer’s
If approved, Donanemab has annual multi-billion-dollar sales potential. Lilly shares rose 6% in early-afternoon trading.
Workers’ well-being tops agenda at annual shareholder meetings
From Amazon.com to Walmart, investors have filed more than 140 shareholder resolutions this year, pressing companies to address employee-related issues ranging from paid leave and health and safety to abortion access, benefits and labor rights.
Consumer confidence dips to lowest level since July as outlook dims
The figures suggest consumers are turning sour on the economy amid expectations that the labor market will soon begin to soften.
U.S. business activity unexpectedly jumps, risking more inflation
Firms saw new orders jump to the highest rate in 11 months, especially in the service sector. That allowed businesses to pass on higher costs to customers, resulting in the fastest jump in output prices in seven months.