Wednesday, 07 November 2018 16:13

Pizza chain's problems continue, oil prices dropping

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STATEWIDE - A national pizza chain's ongoing financial struggles and dropping oil price were among the topics generating buzz in Wednesday's business news.

But first, General Motors is facing questions about whether enough vehicles were included in a 2016 recall.

 

Two years ago, GM recalled more than 300,000 SUVs that could have windshield wiper problems. Federal officials are questioning whether that recall should have actually included about two million vehicles.

 

More prescriptions helped push profits at pharmacy giant CVS past expectations in the third quarter. Revenues were up more than 6 percent to nearly $21 billion. CVS also said it expects to finish its acquisition of health insurance company Aaetna before Thanksgiving.

 

Papa John's is still struggling after its breakup with founder John Schnatter, who stepped down in July. The company lost $13 million in the third quarter as same-store sales fell nearly 10 percent.

 

And oil prices are dropping after the Trump administration gave waivers to several countries allowing them to keep buying oil from Iran despite re-imposed sanctions. West Texas crude hit a low of $61.31 a barrel -- down 20 percent from a month ago.