Bold, aggressive Big Ten Conference leaves door open for more expansion
Big Ten Conference Commissioner Kevin Warren talked Tuesday about the conference being bold and aggressive as college sports goes through a period of sweeping change.
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Watched closely in Indiana, bill to boost semiconductor industry passes key Senate test
Indiana economic development leaders have been hoping for passage of the bill because the state would like to tap federal funding to land a $1.8 billion semiconductor plant at Purdue University.
Consumer goods giant Unilever hikes prices for products but expects strong sales
Unilever, which owns 400 consumer brands ranging from Ben & Jerry’s ice cream to Dove skin care, raised prices by more than 11% between April and June as inflation surged around the world.
Consumer confidence slides for third straight month in July
The Conference Board said Tuesday that its consumer confidence index fell largely due to consumer anxiety over the current economic conditions, particularly four-decade high inflation.
Indiana abortion debate draws protest crowds as legislative hearings continue
Thousands of people arguing the abortion issue surrounded the Indiana Statehouse and filled its corridors Monday as state lawmakers began consideration of a Republican proposal to ban nearly all abortions in the state.
Biden pushes computer chips legislation in advance of Senate vote
The bill is being closely watched in Indiana, where manufacturers, research universities and economic development officials are rooting for its passage.
Walmart cuts profit outlook as shoppers adapt to inflation
Walmart’s move to lower its profit outlook in the middle of the quarter is rare and raised worries about how inflation, the highest in 40 years, is affecting the entire consumer sector.
Rents spike as big-pocketed investors buy mobile home parks
Driven by some of the strongest returns in real estate, investors have shaken up a once-sleepy sector that’s home to more than 22 million mostly low-income Americans in 43,000 communities.
UPDATE: Ex-U.S. congressman Buyer among 9 charged in insider trading cases
Stephen Buyer is accused in court papers of engaging in insider trading during a merger of T-Mobile and Sprint, among other deals. It said he leveraged his work as a consultant and lobbyist to make illegal profits.
Feds sue poultry producers, alleging unfair worker practices
In its lawsuit, the Justice Department alleges the companies have been engaged in a multiyear conspiracy to exchange information about the wages and benefits of workers at poultry processing plants to drive down employee competition in the marketplace.
Irsay pays $6M at auction for Muhammad Ali’s ‘Rumble in the Jungle’ belt
In a tweet Sunday, Irsay confirmed he has acquired the belt for his collection of rock music, American history and pop culture memorabilia, which is currently touring the country.
Semiconductor bill unites far left, far right in opposition
Democratic socialist Sen. Bernie Sanders and the fiscally conservative right consider new grants and tax breaks to help computer chip manufacturers “corporate welfare.”
Yellen downplays U.S. recession risk as economic reports loom
Treasury Secretary Janet Yellen spoke just before a slew of economic reports will be released this week that will shed light on an economy currently besieged by rampant inflation and threatened by higher interest rates.
Terre Haute casino expected to boost local revenue, tourism
Once the Queen of Terre Haute Casino Resort opens, the city is expecting about $10 million in casino tax revenue every year for the next 10 years.
FEMA report: Flood insurance hikes will drive 1M from market
The Federal Emergency Management Agency has updated its flood insurance program to more accurately reflect risk, but also make the program more solvent.
Ford touts ample battery supply deals to hit electric vehicle goals
Ford would not comment on a report that it could lay off as many as 8,000 employees to cut expenses to finance its ambitious EV goals. It called the report by Bloomberg News speculation.
Housing market chills as mortgage rates, prices scare buyers
Mortgage applications have declined sharply while sales of previously occupied homes have fallen for five straight months, during what is generally the busiest time of year in real estate.
Americans filing jobless claims at highest level in 8 months
The government also reported earlier in July that U.S. employers advertised fewer jobs in May amid signs that the economy is weakening, though the overall demand for workers remained strong.
Amazon to buy primary care provider One Medical for $3.9B
One Medical is a membership-based service that offers virtual care as well as in-person visits. It also works with more than 8,000 companies to provide its health benefits to employees.
U.S. Postal Service to boost purchases of electric vehicles
The Postal Service now wants 50% of its initial purchase of 50,000 next-generation vehicles to be electric, up from the previous plan for 20% being electric.