Eli Lilly said Wednesday that its weight-loss drug Zepbound improved symptoms in two late-stage trials of patients with obstructive sleep apnea.
Why it matters: If treating sleep apnea ultimately earns an FDA green light, it could expand insurance coverage for the drug and reshape treatment for a dangerous sleep condition affecting more than 20 million Americans.
The NBA banned player Jontay Porter from the league for a violation of league rules around sports betting.
Between the lines: Porter, who most recently played for the Toronto Raptors, is alleged to have done more than just bet on games.
Among other things, the league alleges that Porter disclosed confidential information about his health to a bett0r and then limited his participation in a game — information the league claims was used to place a specific bet on his performance that night.
What we're watching: The league said suspicious betting on that game was flagged by licensed sports betting operators and an organization that monitors legal betting markets, but it also appeared to take aim at a popular type of wagering, called prop bets:
Multiple whistleblowers alleged manufacturing and safety issues within Boeing aircraft models and dysfunctional safety culture throughout the company before a Senate panel on Wednesday.
Why it matters: The testimony comes as Congress and regulators seek to hold Boeing accountable after a mid-air blowout with one of its 737 MAX 9 jets during an Alaska Airlines flight earlier this year reignited safety concerns inside the company.
We may or may not be entering a new era in which interest rates and inflation are persistently higher than in the recent past. But if we are experiencing such a shift, it would look a lot like what we're seeing right now.
Why it matters: Major shifts in the economic landscape typically don't happen overnight, but rather in fits and starts — as a period of discovery that something important has changed.
Ford is recalling 456,565 SUVs and pickup trucks for loss of drive power because of a low battery issue, according to National Highway Traffic Safety Administration documents.
Why it matters: The undetected low battery charge can result in a loss of electrical accessories such as hazard lights and increase the risk of a crash, records show.
China's GDP rose by 5.3% in the first quarter, compared to a year ago.
The big picture: That's a lot faster than the 3.1% Q1 growth that economists expect to see in the U.S. But the difference between the two might be smaller than it looks at first sight.
The U.S. made remarkable strides in reducing poverty in recent decades, but one group was left behind — working-age adults who aren't raising children.
Why it matters: While key tax breaks and support programs lift a significant percentage of children, parents and older Americans out of poverty, they barely move the needle on this group, finds a striking series of papers from the Hamilton Project at Brookings released Wednesday.
Why it matters: Cost is a majorbarrier to both pursuing and obtaining a college degree or postsecondary credential and it's a reason why enrolled students consider dropping out, according to a new survey from Gallup and Lumina Foundation.
The U.S. will impose new sanctions on Iran's missile and drone program after the country's unprecedented attack on Israel over the weekend, White House national security adviser Jake Sullivan announced Tuesday evening.
Why it matters:President Biden is urging Israeli Prime Minister Benjamin Netanyahu to exercise military restraint. But in the economic sphere, the administration is demonstrating a willingness to retaliate against Iran.
Federal Reserve chair Jerome Powell on Tuesday suggested that interest rate cuts won't occur as soon as previously thought, citing a "lack of progress" on cooling inflation so far this year.
Why it matters The Fed may keep rates at the current, two-decades high level for longer as it assesses incoming economic data, Powell said in his first public remarks since last week's hotter-than-expected inflation report.
The era of rip-roaringglobal growth — with rapidly rising prices to match — is over. Now the global economy is transitioning to a steady but slow state, according to the International Monetary Fund.
Why it matters: The world has so far skirted doom-and-gloom forecasts of a global recession, with faster disinflation and more resilient growth than expected.
The craft beer industry saw negative production for the second straight year in 2023, continuing a downward trend for independent, small brewers.
Yes, but: Craft beer fared better than the beer market as a whole, new data released Tuesday from the Colorado-based Brewers Association shows, and new brewery openings continue to exceed closings.
The cost of day care and preschool rose 4.4% in March from the year before — outpacing the overall inflation rate, per the Bureau of Labor Statistics.
Why it matters: Rising costs are putting stress on families, with some spending at a slower pace and dipping into savings and, there's even some evidence that parents are leaving the workforce entirely.
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