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☆ Weight loss drugs boost sales at retail pharmacies, but they may not help profits much
▼ + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the weight loss industry gold rush. Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter. Are weight loss drugs profitable? A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. For one, branded drugs don't directly compete with other medications because they have patent protections.

Persons: George Frey, Reuters Drugmakers, Arun Sundaram, it's, Elon Musk, Eli Lilly, Doug McMillon, Matthew Schroeder, Schroeder, Rodney McMullen, CFRA Research's Sundaram, Michael Lasser, Jim Vondruska, USC's Schaeffer Organizations: KR NOVO.B, Novo Nordisk, Pharmacy, Reuters, Walmart, Kroger, Rite, CFRA Research, CNBC, Nordisk, Elon, Pfizer, UBS, USC's, USC's Schaeffer Center for Health, Association Locations: Provo , Utah, U.S, GLP, Chicago , Illinois

☆ US agencies investigate close call between Southwest plane, Cessna
▼ + stars: | 2023-08-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

A Southwest Airlines check-in area sits empty after Southwest Airlines flights resumed following the lifting of a brief nationwide stoppage caused by an internal technical issue, according to the U.S. Federal Aviation Authority (FAA), at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. The facility’s automated surface surveillance system alerted the controller about the developing situation and the controller directed the Cessna to discontinue landing. A person briefed on the matter said the initial review shows the Cessna passed over the top of the Southwest airplane by about 100 feet. The controller had cleared the FedEx plane to land and the Southwest plane to depart. The NTSB said the airport surface detection equipment issued an alert, and the air traffic controller gave go-around instructions to the JetBlue flight.

Persons: Jim Vondruska, David Shepardson, Andrew Heavens, Matthew Lewis, Raju Gopalakrishnan Organizations: Southwest Airlines, U.S . Federal Aviation Authority, FAA, Chicago Midway International, REUTERS, U.S . Federal Aviation Administration, National Transportation Safety, Boeing, Cessna, Daylight, San Diego International, FedEx, Southwest Boeing, Lear, JetBlue, NTSB, JetBlue Embraer, Thomson Locations: Chicago , Illinois, U.S, San Diego, San Jose, Austin , Texas, Boston, Washington

☆ US FAA investigates near collision between Southwest plane, Cessna
▼ + stars: | 2023-08-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A Southwest Airlines check-in area sits empty after Southwest Airlines flights resumed following the lifting of a brief nationwide stoppage caused by an internal technical issue, according to the U.S. Federal Aviation Authority (FAA), at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim VondruskaAug 12 (Reuters) - The Federal Aviation Administration (FAA) said on Saturday it is investigating a near collision between a Southwest Airlines (LUV.N) Boeing 737 and a Cessna Citation business jet in San Diego, the latest in a series of troubling U.S. aviation incidents. The facility’s automated surface surveillance system alerted the controller about the developing situation and the controller directed the Cessna to discontinue landing. A person briefed on the matter said the initial review shows the Cessna passed over the top of the Southwest airplane by about 100 feet. The controller had cleared the FedEx plane to land and the Southwest plane to depart.

Persons: Jim Vondruska, David Shepardson, Andrew Heavens, Matthew Lewis Organizations: Southwest Airlines, U.S . Federal Aviation Authority, FAA, Chicago Midway International, REUTERS, Federal Aviation Administration, Boeing, Cessna Citation, San Diego International, Cessna, National Transportation Safety, FedEx, Southwest Boeing, Lear, JetBlue, NTSB, JetBlue Embraer, Thomson Locations: Chicago , Illinois, U.S, San Diego, San Jose, Austin , Texas, Boston, Washington

Companies Novo Nordisk A/S FollowCOPENHAGEN, Aug 10 (Reuters) - Novo Nordisk's (NOVOb.CO) limits on U.S. supplies of starter doses of its hugely popular Wegovy weight-loss drug will last into next year even as the Danish drugmaker spends billions boosting output, its CEO told Reuters on Thursday. Earlier on Thursday, the company said it would continue to restrict U.S. supplies of starter doses of Wegovy as the company struggles to keep up with soaring demand. Novo has denied this, but when asked about this on Thursday Jorgensen said there may be shortages. The company expects to apply for regulatory approval for an expanded label indication in the U.S. and European Union later this year. "It'll take some time before we get it on label," Jorgensen said.

Persons: Lars Fruergaard Jorgensen, Thursday Jorgensen, Jim Vondruska, Jorgensen, " Jorgensen, Martin Lange, Nikolaj Skydsgaard, Jacob Gronholt, Josephine Mason, Jason Neely, Mark Potter Organizations: Novo Nordisk, COPENHAGEN, Reuters, REUTERS, Wegovy, Union, American Heart Association, Pedersen, Thomson Locations: Danish, Chicago , Illinois, U.S, Philadelphia, Copenhagen, London

☆ US consumer prices rise moderately; underlying inflation subsides
▼ + stars: | 2023-08-10 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

An increase in prices at the pump late in the month will likely be reflected in the August inflation report. Economists polled by Reuters had forecast the CPI would rise 0.2% last month and by 3.3% on a year-on-year basis. Reuters GraphicsThe CPI report is one of two before the Fed's Sept. 19-20 policy meeting. Underlying inflation was curbed by a 0.3% drop in core goods prices, which followed a 0.1% dip in June. But with worker productivity rising, economists are optimistic that labor costs will be contained.

Persons: Jim Vondruska, Will Compernolle, Lucia Mutikani, Paul Simao Organizations: Shoppers, REUTERS, Federal Reserve, Labor Department, Fed, Reuters, Financial, Treasury, Services, Reuters Graphics Reuters, Thomson Locations: Chicago , Illinois, U.S, WASHINGTON, New York

☆ Obesity drug Wegovy's landmark trial result could 'open up' health insurance access, analyst says
▼ + stars: | 2023-08-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Until now, some health insurers have been reluctant to cover the drug, given its high costs and a lack of data around its underlying health benefits. But the results of the latest trial data could change that. "Do I think most payers will adopt [obesity drugs] overnight because of the SELECT trial? According to the World Health Organization, global obesity rates have almost tripled over the past decade. Novo Nordisk shares soared by 17% following the release of the trial results on Tuesday.

Persons: Jim Vondruska, Peter Verdult, CNBC's, Wegovy, Verdult, Martin Holst Lange, Eli Lilly, Mounjaro, Michael Mason, Eli Lily, Lilly Diabetes, It's, Lilly, Novo, Lily Organizations: Reuters LONDON, Novo Nordisk, Citi, Novo, World Health Organization, Barclays, Citi Verdult, European Markets Authority Locations: Chicago , Illinois, Danish, U.S, Europe, London

☆ Insurers face long road, high cost to cover obesity drugs after promising Wegovy heart health data
▼ + stars: | 2023-08-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

There is likely a long way to go before the U.S. sees increased insurance coverage for obesity drugs. While the trial results demonstrate that obesity drugs may have significant health benefits beyond shedding unwanted pounds, organizations representing U.S. insurers emphasized that the data is still preliminary. "Health insurance providers will continue to analyze new evidence as it becomes available," he added. Ceci Connolly, CEO of the Alliance of Community Health Plans, acknowledged the promise of the data but said "outrageous prices should give everyone pause." The organization represents regional, community-based health plans that cover more than 18 million Americans across the U.S.

Persons: Jim Vondruska, Wegovy, Eli Lilly, David Allen, Ceci Connolly, Jared Holz, It's, Debra Tyler's, Joe Buglewicz, Eduardo Grunvald, George Frey, UCSD's Gunvald, Eli, Ethan Lazarus, Lazarus Organizations: Reuters Novo Nordisk, Novo Nordisk, America's Health, Alliance of Community Health, U.S, Drugs, Pfizer, Medicare, CVS, Aetna, CNBC, Washington Post, Getty, UCSD Health's Center, International Foundation of Employee, University of Texas System, UTS, Novo, Reuters, Obesity Medicine Association, New England, of Medicine Locations: Chicago , Illinois, U.S, Mizuho, Killingworth, Conn, Texas

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The study called SELECT involved 17,500 patients aged 45 years or older with no prior history of diabetes and started almost five years ago testing if the weekly injection has medical benefits. The landmark trial data shows Wegovy has "the potential to change how obesity is regarded and treated," said Martin Holst Lange, executive vice president for development at Novo Nordisk, in a statement. Novo Nordisk said it expects to file for regulatory approvals of a label indication expansion for the weekly injection in the United States and European Union this year. The detailed results from the trial will be presented at a scientific conference later in 2023.

Persons: Jim Vondruska, Wegovy, Danish drugmaker, That's, Martin Holst Lange, Soren Lontoft Hansen, Novo, Maggie Fick, Nikolaj Skydsgaard, Josephine Mason, Sharon Singleton, Kirsten Donovan Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Nordisk, European Union, World Health Organization, Barclays, Thomson Locations: Chicago , Illinois, U.S, LONDON, Danish, Europe's, United States, Europe, European, Norway, Denmark, Germany, Norwegian

☆ Video-gaming revenue to grow 2.6% in 2023 on console sales strength - report
▼ + stars: | 2023-08-08 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The increasingly popular Wegovy has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and celebrities worldwide. Novo's news lifted shares in Europe's second-most valuable listed company after LVMH (LVMH.PA) by more than 17% to record highs. Novo said the eagerly-awaited study results, which have not been peer reviewed, showed that patients on Wegovy had a 20% lower incidence of heart attack, stroke or death from heart disease compared to those on a placebo. Lilly's shares rose nearly 15% in early U.S. trading, boosted by its upbeat quarterly results and Novo's trial data.

Persons: Jim Vondruska, Novo, Wegovy, Jeff Levin, Willis, Willis Towers Watson, Martin Holst Lange, Novo's, Eli Lilly, Mounjaro, Soren Lontoft Hansen, Maggie Fick, Nikolaj Skydsgaard, Jacob Gronholt, Ludwig Burger, Patrick Wingrove, Terje Solsvik, Josephine Mason, Sharon Singleton, Kirsten Donovan, Jan Harvey, Alexander Smith Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Willis Towers, U.S, Union, Pfizer Inc, Amgen Inc, World Health Organization, Barclays, Reuters, Pedersen, Thomson Locations: Chicago , Illinois, U.S, LONDON, Europe's, Europe, United States, Novo, Wegovy, Germany, Denmark, Norway, Copenhagen, Frankfurt, New York, Oslo

☆ Focus: US psychiatrists prescribe Wegovy to battle medication-induced weight gain
▼ + stars: | 2023-08-03 | by ( Elissa Welle | ) www.reuters.com time to read: +6 min

[1/2] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The global market for weight-loss drugs is forecast to reach as much as $100 billion within the decade. Beyond severe mental health disorders, other patients struggling with obesity tend to suffer from mental health issues like depression and anxiety at higher levels than the general population, studies show. However, psychiatrists specializing in eating disorders are wary that drugs like Wegovy could exacerbate their patients’ focus on weight loss because they are so effective. Dr. Michael Weintraub, an endocrinologist at NYU Langone Health, said ideally psychiatrists will work with endocrinologists because weight-loss drugs require careful monitoring not related to mental health issues.

Persons: Jim Vondruska, Wegovy, Novo, It's, doggedly, Joseph Goldberg, Eli Lilly, Natalia Salomao, Dost Ongur, Brigham, Roy Chengappa, New Yorker Alexander Roger, Roger, Michael Weintraub, McLean's Ongur, Elissa Welle, Michele Gershberg, Bill Berkrot Organizations: REUTERS, Icahn School of Medicine, U.S . Food, Drug Administration, Reuters, Mass, Brigham McLean Hospital, University of Pittsburgh Medical Center, New Yorker, Fordham University, Nordisk, NYU Langone Health, Thomson Locations: Chicago , Illinois, U.S, Mount Sinai, New York, Europe, Danish, Boston

☆ Eli Lilly says obesity drug helped boost weight loss to 26%, highest seen in late-stage trials
▼ + stars: | 2023-07-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Mike Blake | ReutersTrial resultsOne trial, called Surmount-4, evaluated more than 600 people over two periods. Patients took tirzepatide for 36 weeks and achieved 21.1% weight loss on average. Overall, patients who stayed on the drug lost 26% of their weight on average after 88 weeks. The experimental obesity drug helped patients lose around 24% of their weight, setting a new bar for weight loss in mid-stage clinical trials. A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, March 31, 2023.

Persons: Eli Lilly, Mike Blake, tirzepatide, Dr, Jeff Emmick, Eli Lilly's, Eli Lilly's tirzepatide, Jim Vondruska Organizations: Wegovy Locations: San Diego , California, Chicago , Illinois

☆ US airline stock valuations stuck on runway despite travel boom
▼ + stars: | 2023-07-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

REUTERS/Jim Vondruska/File PhotoCHICAGO, July 12 (Reuters) - Relentless travel demand has sent bookings at U.S. carriers soaring, translating into bumper earnings. Airline shares have suffered because of bearish sentiment about the broader economy as interest rates are up sharply and inflation remains high, analysts said. There are still no signs of air travel demand waning as ticket purchases for the rest of 2023 are up 4%, said Steve Solomon, ARC's chief commercial officer. Believers in airline stocks have seen signs of hope this year. Global Investors' Holmes said airline shares are poised for even more gains.

Persons: Jim Vondruska, Refinitiv, Jefferies, Sheila Kahyaoglu, TD Cowen, Frank Holmes, Steve Solomon, Hopper, Hayley Berg, Hopper's, airfares, Holmes, Rajesh Kumar Singh, Ben Klayman, Nick Zieminski Organizations: Chicago Midway International, REUTERS, Airline, US Global Jets ETF, United Airlines, Delta Air Lines, Airlines, Global Investors, U.S . Transportation, Airlines Reporting Corporation, ARC, airfare, Delta, American Airlines, Global, Thomson Locations: Chicago , Illinois, U.S, Europe, United

[1/3] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. It highlights the challenge Novo and rivals face in convincing European governments to pay for obesity drugs, which analysts say is likely to slow their take-up there. Germany's health ministry told Reuters there were no plans to change the law to cover weight loss drugs. DIFFERENT PICTUREIn the United States, the federal Medicare health plan for older Americans is prohibited from covering weight-loss drugs. Many health plans paid for by large employers will cover Wegovy, although they may require that patients try a rigorous diet programme or cheaper drugs first.

Persons: Jim Vondruska, Wegovy, Martin Merkel, Merkel, Duane Mellor, Novo, Lars Fruergaard Jorgensen, Michael Wirtz, Terence McManus, Phil McEwan, they've, McEwan, Patricia Weiss, Josephine Mason, Catherine Evans Organizations: REUTERS, Novo Nordisk, Wegovy, Europe's, pharma, European Union, Endocrinology Society, Aston University in, Reuters, Bellevue Asset Management, Barclays, Thomson Locations: Chicago , Illinois, U.S, Germany, FRANKFURT, Aston University in Birmingham, England, Wegovy, Europe, Danish, Berlin, Norway, Denmark, Britain, United States, Switzerland, Bellevue, EU, Cardiff , Wales, Frankfurt

☆ Obesity drug Wegovy's popularity has US employers rethinking insurance coverage
▼ + stars: | 2023-06-27 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

[1/2] A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. A new and more expensive version of the drug specifically for weight loss, called Wegovy, had been approved in 2021 by U.S. health regulators. Employers that cover weight-loss drugs have required medical practices to document patients’ need for Wegovy since it was approved. The federal Medicare healthcare program for Americans aged 65 and older cannot cover weight loss treatments by law. Only 16 states – the most populous being California, Pennsylvania and Michigan – cover Wegovy and other obesity drugs under their Medicaid plans for low-income patients.

Persons: Jim Vondruska, Shawnte, Aon, Mercer, Willis Towers Watson, Eli Lilly, Jeff Levin, Levin, Scherz, Michael Manolakis, William Yancy, Manolakis, Patrick Wingrove, Michele Gershberg, Suzanne Goldenberg Organizations: REUTERS, New, Warner Bros, Warner Bros Discovery Inc, Reuters, Marsh & McLennan, Employers, Barclays Research, Novo Nordisk, Duke University, Thomson Locations: Chicago , Illinois, U.S, New York, Marsh, Wegovy, California, Pennsylvania, Michigan

Novo's inability to keep up with a burst in U.S. demand for Wegovy has effectively delayed the launch in Britain and elsewhere in Europe. A company spokesperson would not comment on any commitment to supply its drug for the British pilot. The British government said that only 35,000 people would have access to Wegovy under the specialist hospital services, but tens of thousands more could be eligible. Duane Mellor, a dietitian and senior lecturer at Aston University's medical school, told Reuters drugs like Wegovy were a tool, not the solution. Wegovy works by mimicking a hormone called glucagon-like peptide-1 (GLP-1) that triggers the feeling of fullness in the body after eating.

Persons: Jim Vondruska, Sunak, Eli Lilly's, Eli Lilly, Phil McEwan, Novo, Keen, Wegovy, Duane Mellor, Simon Cork, Ludwig Burger, Maggie Fick, Anusha, Helen Reid, Lincoln, Mark Potter Organizations: REUTERS, National Health, Novo, British, NHS, NICE, National Institute for Health, Care, Wegovy, Nordisk, ., Heor Ltd, Reuters, Aston, Anglia Ruskin University, Thomson Locations: Chicago , Illinois, U.S, Britain, England, Europe, United States, British, Cardiff, Denmark, Norway, Frankfurt, London, Bengaluru

☆ Factbox: Novo Nordisk's weight-loss drug cuts heart disease risk in study
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. AMGENAmgen's (AMGN.O) experimental obesity drug, AMG133, showed a mean weight loss of 14.5% after 12 weeks of treatment at the highest monthly dose. The company plans to test higher doses of the drug over a longer treatment window in a mid-stage trial. ZEALAND PHARMADenmark's Zealand Pharma (ZELA.CO) and Boehringer Ingelheim's experimental obesity treatment achieved up to 14.9% weight loss in a mid-stage trial on Wednesday. OPKO HEALTH Opko Health (OPK.O) has completed a mid-stage trial of its obesity drug, pegapamodutide, which it expects will have fewer side effects.

Persons: Jim Vondruska, Wegovy, Eli Lilly, ELI LILLY Lilly, Mounjaro, LLY.N, danuglipron, AMGEN, ALTIMMUNE, Mariam Sunny, Pratik Jain, Sriparna Roy, Sriraj Kalluvila, Anil D'Silva Organizations: REUTERS, Novo Nordisk, Pfizer, NOVO NORDISK Novo Nordisk, Novo, PFIZER Pfizer Inc, danuglipron, THERAPEUTICS, Therapeutics, ZEALAND PHARMA Denmark's Zealand Pharma, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

[1/2] A woman checks the arrivals and departures board at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim Vondruska/File PhotoNEW YORK, May 10 (Reuters) - A gloomy forecast from vacation rental firm Airbnb (ABNB.O) weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. "We also believe Airbnb's commentary will result in increased caution in the travel space, but more specifically around vacation and the U.S.," the analysts said. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Wegovy Maker to Limit Starter-Dose Supplies in U.S. as Demand Surges
▼ + stars: | 2023-05-04 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Ozempic and Wegovy have become popular as treatments for weight management. Photo: JIM VONDRUSKA/REUTERSThe Danish pharmaceutical giant that makes the obesity drug Wegovy said it would temporarily hold back some lower-strength starter doses in the U.S. in an effort to safeguard supplies for current patients amid soaring demand. The Food and Drug Administration cleared Wegovy, made by Novo Nordisk , as a treatment for chronic weight management in 2021. It has since exploded in popularity.

REUTERS/Jim VondruskaApril 18 (Reuters) - Southwest Airlines Co's (LUV.N) said a technology failure caused a one-hour nationwide stoppage of its flights on Tuesday, another snafu for the carrier after a software problem over the Christmas holiday stranded thousands. The Dallas-based carrier's flights resumed after a vendor-supplied computer network firewall went down Tuesday morning and connection to some operational data was "unexpectedly" lost. Data from flight tracker FlightAware showed 47% of Southwest's flights were delayed as of late afternoon on Tuesday. "This is another demonstration that Southwest Airlines needs to upgrade their systems and stop the negative impacts to individual travelers,” said Senator Maria Cantwell in a statement. The FAA had to halt flights nationwide in January due to a systems outage.

[1/2] Cook County commissioner and mayoral candidate Brandon Johnson campaigns a day ahead of the runoff election in Chicago, Illinois, U.S. April 3, 2023. REUTERS/Jim VondruskaCHICAGO, April 4 (Reuters) - Brandon Johnson was elected Chicago mayor on Tuesday, according to the Associated Press, defeating Paul Vallas in a runoff between two Democrats to take over a city grappling with crime, an issue that dominated the race. Johnson, a 47-year-old Cook County Commissioner, becomes the 57th mayor of the third-largest U.S. city, after incumbent Lori Lightfoot was eliminated from the race in February. Vallas called for more police officers, while Johnson suggested more mental health support and opportunities for young people. Johnson, a former Chicago teacher and union organizer, says he will promote 200 new detectives from the existing pool of police officers.

☆ Airline, banking and rail oversight top U.S. progressives' wish list for Biden
▼ + stars: | 2023-03-30 | by ( Moira Warburton | ) www.reuters.com time to read: +3 min

REUTERS/Jim VondruskaWASHINGTON, March 30 (Reuters) - Liberal Democrats in the U.S. Congress called on President Joe Biden on Thursday to take executive action to crack down on misconduct in the banking, airline and rail transportation industries. The caucus, made up of 101 U.S. House Democrats and independent Senator Bernie Sanders, has grown in influence in recent years under Representative Pramila Jayapal's leadership. "These are actions that we believe the White House and federal agencies have the authority and the ability to take now," Jayapal told reporters on Thursday. With the House of Representatives narrowly controlled by Republicans and the Senate narrowly controlled by Democrats, progress on legislation is increasingly rare, leading presidents to rely more heavily on executive action. Biden's Democratic administration has taken the caucus's advice on multiple occasions, most notably on canceling student debt through executive action.

☆ Op-ed: The calm before the storm – These 3 drivers will dictate the landing ahead for the U.S. economy
▼ + stars: | 2023-02-28 | by ( Rebecca Patterson | ) www.cnbc.com time to read: +5 min

The approach of those storms seems an appropriate analogy to the U.S. economic outlook today. Investors today are keenly focused on what kind of economic landing the U.S. will have and how best to position for different outcomes. That's critical for the broader growth outlook, given that consumption represents around two-thirds of the economy. While many U.S. firms are expressing their nervousness about the economic outlook, they are at the same time still seeking to hire. A negative feedback loop would likely ensue, with less income weighing on spending and less spending making companies more cautious.

☆ Crime tops Chicago voters' concerns in mayoral election
▼ + stars: | 2023-02-28 | by ( Joseph Ax | ) www.reuters.com time to read: +3 min

[1/2] Chicago Mayor Lori Lightfoot speaks to children after a press event ahead of expected Thanksgiving travel at O'Hare airport in Chicago, Illinois, U.S., November 21, 2022. The Chicago race is technically nonpartisan, but every candidate identifies as a Democrat in the heavily left-leaning city. There were more than 800 murders in Chicago in 2021, the most in a quarter-century. Garcia, considered a liberal member of Congress, has said he would increase the number of officers on patrol and fund more community-based anti-violence programs. Reporting by Joseph Ax Editing by Colleen Jenkins and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

"We've been talking about impending recession for several quarters now," said Malone, whose Virginia Beach-based company has a national footprint. So has unexpectedly strong consumer spending and, for the world outlook, the reopening of China's economy from strict COVID lockdowns. That poured cold water on the idea that the Fed would "pivot" on a dime to lower rates. "Government bond yields are up" since the last Fed policy meeting, Durham wrote. "It kind of seems the U.S. economy might be more resilient than markets thought six or eight weeks ago."

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