Tuesday’s business headlines

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

Eli Lilly and Co

Lilly is getting big news about a new cancer drug.

The experimental lung cancer drug that led Eli Lilly to spend $8 billion on a smaller biotech firm, Loxo Oncology, delivered impressive results in a study.

A total of 68% of the patients taking the drug saw their tumors decrease in size.

The drug showed results in those patients who had not responded well to chemotherapy.

Target

Targets’s new loyalty program launches nationwide in October.

Target Circle will be available to shoppers in the United States beginning October 6. Program perks include earning 1% on Target purchases, personalized deals and early access to its sales.

BET streaming

Bet Plus has announced its new streaming service.

The offshoot of Black Entertainment Television says it will launch Sept 19 and will cost $9.99 a month.

At launch, BET+ says it will feature more than 1,000 hours of programming, all of it available to watch on both iOs and Android as well as variety of other streaming devices.

Debt

U.S. consumer debt is ballooning and it’s mainly due to credit card balances.

Americans are using the cards more for both every day and online purchases.

Consumer borrowing increased by $23.3 billion in July after $13.8 billion advances in June, according to the Federal Reserve. Borrowing in the category that covers auto and student loans also posted a sizable gain.