New warning label
Bottles of Tylenol sold in the U.S. will soon bear red warnings alerting users to the potentially fatal risks of taking too much of the popular pain reliever. Johnson Johnson said the warning will start appearing on the cap of each new bottle of Extra Strength Tylenol sold in the U.S. in October and on most other Tylenol bottles in coming months. The warning will make it explicitly clear that the over-the-counter drug contains acetaminophen, a pain-relieving ingredient that is the nation’s leading cause of sudden liver failure.
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Predictions of sharp increases in health insurance premiums for people getting coverage under the Affordable Care Act have been overstated, and many states will see little or no change, Rand Corp. researchers found. Out-of-pocket premiums for most individuals who buy health care plans through new insurance exchanges will decline because of federal subsidies, the nonprofit research group said. The researchers looked at insurance markets in 10 states to project costs.
Mortgage rates dip
Mortgage rates fell for the first time in five weeks, reducing borrowing costs from a two-year high as the housing market recovery shows signs of slowing. The average rate for a 30-year fixed mortgage dropped to 4.51 percent this week from 4.58 percent, mortgage buyer Freddie Mac said. The average 15-year rate declined to 3.54 percent from 3.60 percent.
Consumer confidence fell for a third straight week, reaching its lowest in more than four months. The Bloomberg Consumer Comfort Index declined to minus 31.7 for the period ending Aug. 25, its weakest reading since April 7. The index was minus 28.8 a week earlier.
Research firm IDC cut its forecast for tablet computer sales through 2017 as larger smartphones and wearable technology, such as Google Glass, compete for consumers’ attention. Tablet shipments will reach 227.4 million this year, down 0.8 percent from an earlier forecast, IDC said. The company reduced its 2017 forecast by 0.7 percent to 407 million.
Patient records exposed
The Federal Trade Commission accused LabMD, a small, Atlanta-based medical lab that specializes in cancer detection, of not doing enough to protect its patients’ online records, resulting in the leak of the Social Security numbers and birth dates of more than 9,000 consumers.