Business

Monday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.

Report: More debt linked to increase illness in older generations

Research shows that debt has risen among older people, and those who owe are more likely to have multiple diagnosed illnesses.

Researchers at the Urban Institute reported that indebted older adults fare measurably worse on a range of health measures: fair or poor self-rated health, depression and inability to work.

Twitter: U.S. antitrust waiting period is over

Twitter said the U.S. antitrust waiting period for Elon Musk’s $44 billion acquisition of the social media giant had expired, indicating it had dodged a lengthy review of the proposed deal.

With the expiration, completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders.

Abbott reopens southern Michigan baby formula plant

Abbott Nutrition resumed production at its shuttered Sturgis, Michigan, baby formula factory on Saturday.

The factory was closed earlier this year after an FDA inspection turned up allegedly unsanitary conditions.

Abbott says it believes the formula will be back on store shelves around June 20th.

Apple to reveal new software, product

Apple is about to hold its annual developer conference this week where it’s expected to show off new software coming to its most popular devices and possibly offer the biggest hint yet about a new product long rumored to be in development.

The new operating system, iOS 16, is expected to have new health features and social upgrades for iMessage.

Apple may reveal some hints on its augmented reality headsets although the actual product isn’t expected to be released.

Non-alcoholic drink sales are up 116%

In the year ending May 14, U.S. retail sales of non-alcoholic spirits grew 116% to $4.5 million, according to Nielseniq.

Alcoholic spirit sales slipped about 1% to just under $21 billion.

Non-alcoholic beer and wine sales are all higher.