This week in business with Jane King
Take a look at this week’s business headlines with Jane King.
Inflation is a top business concern
Small Business Index found that a record 54% of small business owners cite inflation as their top concern for the first three months of this year.
That is the fifth straight quarter that small business owners have said inflation is their biggest worry which indicates a greater reluctance to hire to expand to spend money. The inflation reflects higher labor costs, energy costs, and restaurants having to pay for food.
Banking crisis not over?
Jamie Diamond, the CEO of JP Morgan Chase, says the banking crisis isn’t done.
He believes that we will have repercussions from this regional banking crisis.
Silicon Valley Bank really started this in February. He thinks we’re going to feel this for some time now.
Lilly’s new weight loss drug coming
It is called tirzepatide, and it helped a typical person with obesity who weighed 230 pounds lose up to 50 pounds over 17 months.
We really haven’t seen an obesity drug do anything like that before, so analysts project this could be huge for Lilly.
It could reach two billion in annual sales and of course, they would have patent protection on that drug years after that.
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