Roundup: Arthur’s damage / Drug pricing / Bezos vs. Musk

Storm damage estimate: According to AccuWeather Global Weather Center, Tropical Storm Arthur dropped more than 20 inches of rain in parts of the Gulf Coast this week, leading to an estimated $4 billion to $6 billion in damage and economic losses. The most significant impacts came from severe flooding, which damaged homes, businesses and infrastructure, while also causing widespread road closures, flight delays, power outages and business disruptions. At least two deaths were reported along with numerous rescues. Officials say the estimate is preliminary as damage assessments are ongoing.

Germany under scrutiny: The U.S. has launched a Section 301 investigation into Germany’s pharmaceutical pricing policies, alleging it undervalues innovative medicines and disadvantages American drugmakers. The probe will assess whether these policies unfairly restrict U.S. pharmaceutical revenues and trade. If violations are found, it could lead to retaliatory tariffs and heightened trade tensions with Germany and the EU. CNBC has the full story.

Space strategy: Jeff Bezos pursued a long-term strategy to reduce reliance on SpaceX by investing heavily in alternative space infrastructure and supporting multiple launch providers. Instead of directly competing head-on, the approach focused on gradually expanding capacity in the commercial launch market. Over time, this helped increase competition and prevent a single-company monopoly in space launches. Inc. has the full story.