Wednesday’s business headlines

Business

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines.

Drug prices

Drug prices are climbing higher

The average price hike is 10.5% or five times the rate of inflation.

The drug hikes come at a time when lawmakers and the Trump administration have vowed to address the problem of rising prescription costs.

Facebook, Youtube

Facebook and Youtube are being overrun with fake medical videos.

The Wall Street Journal says the videos claim dubious science and harmful information.

The companies said they are taking steps to curb such accounts. Facebook last month changed its news feed algorithms to reduce promotion of posts promising miracle cures.

Tesla

Tesla saw record-setting sales.

Auto industry leaders said that speaks well for the future of electric cars.

Tesla sold more than 95,000 cars in the second quarter.

The model 3 was the best seller.

Gas prices

Low unemployment and lower gas prices mean more Americans feel confident about spending money on travel.

The national average of $2.68 a gallon for gas is 21 cents lower than last year, according to Triple A.

Triple A says the current average in central Indiana is $2.77/ gallon.

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