Ticker: FDA grants quick OK to Eli Lilly’s weight-loss pill
U.S. health officials have approved a new weight-loss pill from Eli Lilly.
The Food and Drug Administration’s decision Wednesday means patients in the United States will soon have access to a second daily oral medication to treat obesity and weight-related issues. The drug will be sold as Foundayo and it’s expected to begin shipping Monday.
Stopgap measures aren’t enough to halt gas prices
Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war.
President Donald Trump and other heads of state have been pulling on various levers while hoping to ease pain for consumers. They coordinated to launch 400 million barrels of oil onto the market. And Trump lifted sanctions on Russian and Iranian crude.
Brazilian banks to verify deforestation data
Brazilian banks are now required to verify satellite deforestation data before approving rural credit.
Financial institutions must check starting Wednesday if a property is listed in a government registry for potential illegal deforestation after July 31, 2019. The database is maintained by the Ministry of Environment and Climate Change using satellite data.
Stocks rally worldwide as oil prices ease
Stocks rushed higher worldwide, and oil prices eased as hopes built that the war with Iran could end soon. That’s even though some of the signals investors saw as hopeful on Wednesday are already under dispute.
The S&P 500 rose 0.7% and added to its leap from the day before, which was its best since last spring. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite jumped 1.2%.
Trump ally testifies in trial over secret lobbying
The criminal trial of a former congressman is offering a glimpse into the prehistory of the ouster of Venezuelan President Nicolas Maduro.
A top Washington lobbyist close to President Donald Trump has testified about a $50 million contract between Maduro’s government and former Rep. David Rivera. Prosecutors say Rivera lobbied for Venezuela without registering. Rivera says he didn’t have to register because he was consulting with a U.S. affiliate of Venezuela’s oil company. Testimony has exposed covert lobbying involving Delcy Rodriguez, now Venezuela’s acting president, and Susie Wiles, now Trump’s chief of staff, as well as a Venezuelan billionaire who allegedly funneled embezzled oil money to both sides.
US lifts sanctions on Venezuela’s acting leader
The U.S. has lifted sanctions on Venezuela’s acting President Delcy Rodriguez. That’s according to an Office of Foreign Assets Control entry on Wednesday on the Treasury Department website.
The newly announced sanctions relief represents a strong signal that the U.S. recognizes Rodriguez as a legitimate authority in Venezuela.
Groups urge YouTube to protect kids from AI slop
Advocacy groups and experts have slammed YouTube for serving up low-quality artificial intelligence-generated videos to its most vulnerable audience: children.
In a letter to the CEOs of YouTube and its parent company Google, children’s advocacy group Fairplay expressed concern about the spread of AI-generated videos on YouTube and YouTube Kids. The letter was signed by more than 200 organizations and experts including child psychiatrists and educators. The videos distort kids’ sense of reality and dominate their attention spans, the advocacy groups say.


