Cheddar Afternoon News Briefings of August 2nd 2023

News Briefings

This is your daily news briefing from the US is losing its gold standard credit rating. Fitch is lowering the US debt rating from the highest AAA rating to AA plus some of the reasons cited for the downgrade are expected fiscal deterioration over the next three years and growing government debt burden. The last time America's credit rating was downgraded was in 2011 by S and P. Employers are cutting off insurance coverage for weight loss, drugs in a move to cut costs, prices for drugs like Ozempic have tripled over the past 18 months that an exploding demand are straining the finances of many insurance plans funded by employers. Toyota Land Cruiser is coming back after being discontinued in North America. Three years ago, the new SUV comes with a retro design, a hybrid engine and a more affordable price tag of $50,000. And that's your chet news update. I'm Hanna do in New York.