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INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Jobless Claims
The U.S. economy shrank by 1.4% last quarter. There is no doubt the Omicron variant had something to do with this. Two consecutive quarters leads to recession and this is the first quarter. There are currently 180,000 jobless claims.
Eli Lilly profit jumps
Eli Lilly’s profit jumped on robust demand for it’s diabetes drug. Lilly was helped by a strong demand for its top-selling diabetes drug and higher sales of its COVID-19 therapies. In Feb, the U.S. authorized Lilly’s COVID-19 antibody drug, for people ages 12 and older at the risk of severe illness, and signed a deal for up to 600,000 doses. Lilly said it’s weight loss drug met goals in trials.
Credit card debt
Credit card debt is creeping up as consumers face rising prices almost across the board. The Federal Reserve’s next rate hike will only…
