U.S. consumer spending sinks by record 13.6% in face of virus
Last month’s spending decline was far worse than the revised 6.9% drop in March, which itself had set a previous record for the steepest one-month fall in records dating to 1959.
Associated Press
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Trump escalates war on Twitter, social media protections
President Donald Trump on Thursday signed an executive order challenging the lawsuit protections that have served as a bedrock for unfettered speech on the internet.
U.S. House approves changes to business virus aid subsidy program
The new measure gives business owners 24 weeks to spend the federal aid—instead of eight as originally designed—and extends the program through the end of the year while also lengthening the the maturity date and deferral period of the loans.
Democrats accuse OSHA of not protecting front-line workers
Democrats are accusing the Trump administration for failing to protect front-line workers, including those at meatpacking plants and health care facilities where outbreaks of the disease are spiking.
Target, Walmart outbox department stores in reshaped world
The pandemic is dividing the industry into potential winners and losers, with Wall Street looking more favorably at e-commerce retailers and companies with well-established online sales.
U.S. economy shrank at 5% annual rate in first quarter
It was the biggest quarterly decline in more than a decade, since an 8.4% fall in the fourth quarter of 2008 during the depths of the financial crisis.
Mail-in voting could turn Election Day into Election Week
State election officials in some key battleground states have recently warned that it may take days to count what they expect will be a surge of ballots sent by mail out of concern for safety amid the pandemic.
Boeing cuts 12,000 jobs, resumes production of grounded jet
Shortly after disclosing the job cuts, Boeing announced Wednesday that it has resumed production of the grounded 737 Max jetliner. Two deadly crashes of Max jets pushed Boeing into a financial crisis months before the coronavirus squeezed global air travel to a trickle.
Could pandemic put a damper on rising CEO compensation?
The pay gap between the boss and their workforces widened further last year, according to AP’s annual survey of executive compensation, but the impact of COVID-19 could eventually shrink that divide, or maybe even widen it.
U.S. House poised for first-ever proxy vote amid political wrangling
Deadlocked over the next big coronavirus relief bill, Congress is shifting its attention to a more modest overhaul of small-business aid in hopes of helping employers reopen shops and survive the pandemic.
For first time, a woman tops AP’s annual survey of CEO compensation
Women remained significantly underrepresented as CEOs on the list, heading just 5% percent of S&P 500 companies.
Tuesday Morning becomes fifth big retailer to file Chapter 11
Tuesday Morning has 13 stores in Indiana, including three in Indianapolis, one in Carmel and one in Fishers.
Wall Street climbs as recovery hopes overshadow virus worries
Stocks surged on Wall Street in morning trading Tuesday, driving the S&P 500 to its highest level in nearly three months.
Owners should flush pipes in buildings left vacant during pandemic, experts say
The Indiana State Department of Health and the Department of Environmental Management have both issued guidance on properly flushing water systems as retail businesses reopen following closures
Some Indiana environmental groups suffering during pandemic
Without spring events that usually attract members and donors, some of Indiana’s environmental organizations are struggling to stay afloat.
Forced to adapt, businesses rethink how they make money
For many companies, it’s a matter of survival, but for others, the changes have been a silver lining amidst the crisis.
Trump deems churches ‘essential,’ calls for them to reopen
President Donald Trump on Friday called on governors across the country to allow them to reopen this weekend, even as some parts of the nation remain under coronavirus lockdown.
Eased orders mean DNR campgrounds, inns reopen Friday
All of Indiana’s state-operated inns, campgrounds and cabins and will reopen in time for the Memorial Day weekend as coronavirus restrictions are eased across much of Indiana, state officials said.
Victoria’s Secret to close 23% of its North American stores
Victoria’s Secret said it would close 251 stores in North America by the end of this year after parent L Brands Inc. suffered a fiscal first-quarter loss of $296.9 million.
Another 2.4M file unemployment claims, including 30,311 in Indiana
Roughly 38.6 million people have now filed for jobless aid nationally since the coronavirus forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.