A nurse works at a hospital's oncology infusion center. Photo: Carolyn Cole/Los Angeles Times via Getty Images

Three federal appeals court judges in D.C. today unanimously dismissed a lawsuit brought by hospitals over the federal 340B drug discount program. The court said a new policy that decreases certain drug payments to hospitals by 28.5 percentage points can proceed, because the hospitals sued before the cuts were technically effective.

The big picture: The cuts will cost hospitals $1.6 billion this year. The American Hospital Association and other plaintiffs said in a statement they plan to "refile promptly in district court."

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Ben Geman, author of Generate
19 mins ago - Economy & Business

GM dives full-throttle into electric

GMC Hummer EV. Photo courtesy of General Motors

What has LeBron James as a pitchman, some slightly awkward promotional phrasing ("watts to freedom"), and a six-figure starting price? The electric GMC Hummer.

Driving the news: General Motors unveiled the vehicle — a reborn version of the deceased mega-guzzler — with a highly produced rollout Tuesday night that included a World Series spot. The company also began taking reservations.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
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  4. Education: Schools haven't become hotspots.
Dion Rabouin, author of Markets
2 hours ago - Economy & Business

CEO confidence skyrockets on expectations of layoffs and wage cuts

U.S. consumers remain uncertain about the economic environment but CEOs are feeling incredibly confident, the latest survey from the Conference Board shows.

Why it matters: Confidence among chief executives jumped 19 points from its last reading in July, rising above the 50-point threshold that reflects more positive than negative responses for the first time since 2018.