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Wednesday’s business headlines

Wednesday’s business headlines

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

Average gas price reaches $3.93 in Indianapolis

Drivers hoping to squeeze out one last trip before the Labor Day holiday and school begins are finding pump prices that have surged to their highest level this year. Strong demand and a series of refinery outages have pushed the national average retail price to $3.86 per gallon, according to the American Automobile Association – 7% higher than a month ago. AAA says the current average in the Indianapolis area is $3.93 a gallon A month ago it was $3.51.

Amazon pharmacy to sell diabetes drugs for $35/month

Amazon said its online pharmacy will automatically apply manufacturer-sponsored coupons to more than 15 insulin and diabetes medicines to help patients access discounts pledged by the drug industry. That means insulin and diabetes drugs will cost as little as $35 a month.

Disney accused of withholding profits from financing partner

Disney has been accused of withholding profits from TSG Entertainment, a long-time financing partner of its 20th-century Fox Studio. The suit alleges the company withheld profits and cut deals to boost its streaming platforms and stock price. The group has helped co-finance around 140 films produced by 20th-Century Fox, which Disney acquired in 2019, including “Avatar: The Way of Water. Disney didn’t comment.

Stock Update

Stocks fell Tuesday as concern over the state of the global economy — China in particular — and a decline in U.S. banks combined to pressure wall street.