Business News
Hearings don’t affect drug pricesWASHINGTON — Congress’s routine of publicly shaming drug company executives over high prices works no better than a placebo: It may make some people feel better, but it doesn’t treat the problem.In the last two years, House and Senate committees issued more than a dozen subpoenas to price-hiking drugmakers, collecting hundreds of thousands of documents and berating executives for more than 16 hours of public hearings.But a review of the list prices of nearly 30 brand-name medications and generic versions targeted by congressional investigators shows most haven’t budged since coming under federal scrutiny, according to figures from Truven Health Analytics.
Target gets cheery about the holidaysNEW YORK — Target breezed past Wall Street expectations for the third quarter, with help from a solid back-to-school season, and raised a key sales outlook for the critical holiday season.The cheap-chic retailer still saw declines in store traffic and in its central sales measure, but they were less than expected and Target raised its annual profit outlook.Target has been trying to get back on track and address the issues that dragged down its business this summer.
Twitter suspends alt-right accountsNEW YORK — Twitter has suspended the accounts of several prominent members of the so-called “alt-right” in an apparent crackdown on accounts tied to hate speech or threats of violence.Twitter declined to comment, but noted that its policies forbid violent threats, hate speech or harassment and promise to take action against violators. The company also announced Tuesday that it was expanding ways for users to report harassment and curb the amount of abuse they see.The alt-right, short for “alternative right,” is a loose group espousing a provocative and reactionary strain of conservatism.
