Consumer News: TikTok launches new measures to protect kids, Adidas sells Reebok and more!
CNN– The Food and Drug Administration approved a new drug for a rare sleep disorder Thursday, but the agency is limiting how doctors may prescribe it. XYWAV is an oral solution that can now be used to treat the chronic sleep disorder idiopathic hypersomnia. It’s a lifelong condition that causes excessive sleepiness in the day, even after a full night of sleep. XYWAV includes a warning for central nervous system depression, abuse and misuse, because it contains a controlled substance that can cause severe side effects if misused.
TikTok has launched some measures designed to protect teen users. The popular video sharing app will no longer send push notifications to 13-15-year-olds after 9 p.m. 16-to-17-year-old users won’t receive them after 10 p.m. TikTok requires users to be at least 13-years-old before signing up for an account, but it’s not clear how the company verifies age.
Practically everything has gotten more expensive lately with rising inflation. Among the items costing more in recent months is used cars. According to several reports, surging used car prices could be coming to an end. Fueling this hope is the fact that the Bureau of Labor Statistics this week reported that used vehicle prices went up a mere 0.2% last month. The previous three months in a row saw price hikes of 7% or more. According to Business Insider, many economists believe the increase in vehicle prices will slow down even further.
Adidas says it reached a deal to sell off Reebok Thursday. Adidas paid $3.8 billion for Reebok back in 2006, in an attempt to take on Nike directly. Back then, Reebok had deals with both the NBA and the NFL, but fortunes have changed. Now, Adidas is selling Reebok for $2.5 billion, a significant loss, to Authentic Brands Group. This group owns Forever 21 and Brooks Brothers.