Business

Tuesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.

Philip Morris

The Marlboro owner, Philip Morris International, wants to buy a company that makes asthma inhalers.

Health charities are skeptical of Philip Morris International’s plans and have urged the UK government to block the Vectura deal, warning it will allow the tobacco industry to influence public health policy in Britain.

Philip Morris International increased its offer for the pharmaceutical company to more than $1.4 billion in an attempt to fend off a rival bid from U.S. private equity group Caryle.

The revised offer comes just weeks after the tobacco giant said it will stop selling Marlboro cigarettes in Britain within a decade.

Restaurants

For the first time ever, restaurant and grocery workers are earning over $15 an hour on average.

That’s according to a report from the Washington Post, which found about 80% of workers now make above $15.

Labor activists have long had a $15 wage as a goal.

Grains

Grains and soybeans tumble as spreading virus fuels demand concerns.

Rain in key U.S. growing areas also weighs on crop futures.

Wheat led the decline.

Moderna

Moderna soared as much as 19% on Monday amid a flood of news suggesting that demand for its COVID-19 vaccine will continue to be strong.

Monday’s move catapulted Moderna ahead of Merck in market value, giving the mRNA developer a valuation of nearly $200 billion.

Moderna saw its revenue soar 6,515% to more than $7 billion in the second quarter.

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