Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
Eli Lilly and Co.
Eli Lilly is closing down its neuroscience center in the United Kingdom.
Fiercebiotech reports the research house will be closed by the end of 2020, seeing around 270 employees lose their jobs.
The neuroscience research will move to its home in the U.S. but the article didn’t say exactly how it would impact the Indianapolis headquarters.
Opioid crisis
Three major drug distributors are in talks to pay $18 billion to settle sweeping litigation related to the opioid crisis.
The companies are McKesson, Cardinal Health and Amerisource Bergen.
Jury selection is due to start in Ohio Wednesday that combines the claims of nearly 2,000 cities and counties related to opioid addiction.
Walmart, Amazon
The holiday price wars between Walmart and Amazon are heating up.
Walmart, the world’s largest retailer, has introduced a program to temporarily lower the prices consumers pay for some items on its marketplace site, where third-party vendors pay Walmart a feel to list their goods.
The merchants selling on the site, however, will still be paid the amount listed before the cuts.
JP Morgan spending
Consumers are still spending, according to JP Morgan Chase CEO Jamie Dimon. But Dimon added that the U.S. trade war with China is weighing on corporate sentiment.
He said that geopolitics are reducing confidence but that the U.S. Consumer is doing fine.