FedEx shares plunge as gloomier forecast sows doubts on economy
The courier has cut its financial outlook just three months after raising it, reflecting an abrupt change in FedEx’s view of the global economy.
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FedEx to offer buyouts to U.S. employees as part of cost-cutting plans
The Memphis, Tennessee-based company did not say how many positions it wants to eliminate or from what locations. But its Indianapolis International Airport hub is part of the Express division that will be targeted for the buyouts.
Anthem among health care stocks suffering after Obamacare ruling
While many analysts expect the ruling to be reversed by higher courts, the news adds to volatility in a sector that had barely recovered from political static this year.
Obamacare thrown out by judge, raising insurance uncertainty
The decision Friday finding the Affordable Care Act unconstitutional comes just before the end of a six-week open enrollment period for the program in 2019.
Johnson & Johnson’s shares plunge on report of asbestos in baby powder
Analysts estimate that the company could be on the hook for as much as $10 billion to $20 billion in settlements from an estimated 11,000 pending talc cases.
U.S. farmers see China’s return to soybean market as ‘drop in the bucket’
China’s return to the U.S. soybean market this week comes too little, too late for many farming families to put more Christmas presents under the tree this year.
Apple to build $1 billion campus in Austin, expand in other cities
The Texas capital, which already has more than 6,000 Apple employees, is slated to get at least 5,000 more. Three other cities will get more than 1,000 jobs each.
Six arrested in 2011 killing of former Indianapolis banker
Federal authorities announced Wednesday that they have solved the high-profile orchestrated killing of a former Indiana banking executive who was shot to death more than seven years ago while driving home from work.
Trump considering Pence aide to run Fannie Mae/Freddie Mac
Vice President Mike Pence’s chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
U.S. job vacancies rise, exceed unemployed by 1 million
The number of openings is the second-highest on record, reinforcing the view that the trend of employment is strong.
Sears’ biggest shareholder bids $4.6B for rest of bankrupt chain
Eddie Lampert took his first step toward rescuing Sears Holdings Corp. from bankruptcy with a $4.6 billion bid that would keep hundreds of stores open and preserve about 50,000 jobs.
USA Gymnastics bankruptcy might leave sex-abuse victims unpaid
In court filings, USA Gymnastics said it might not have the estimated $75 million to $150 million needed to settle lawsuits from dozens of claims from victims of Larry Nassar.
Nexstar drawing interest in TV stations from several parties
As part of its $4.1 deal to acquire Tribune Media Co., Nexstar Media must sell TV stations in numerous markets to avoid regulatory problems. Those sales are almost certain to involve stations in Indianapolis.
Microsoft boosts rural broadband efforts to reach more users
The Microsoft Airband Initiative will now be in 25 states by this time next year, more than doubling the program’s original reach and adding states including Indiana.
U.S. farms taking wait-and-see stance on Trump’s trade truce
U.S. farmers are pleased that Donald Trump and Xi Jinping agreed to a trade truce, but they’re not rejoicing just yet.
UPDATE: WISH-TV owner to pay $4.1B for owner of WXIN, WTTV
To complete a deal, Nexstar Media Group Inc. and Tribune Media Co. will likely have to sell off one of their Indianapolis stations to comply with FCC regulations.
Stocks have best day in months after Fed chairman hints at fewer interest hikes
Stocks surged on Wall Street on Wednesday, with huge gains by every major U.S. index, after Federal Reserve Chairman Jerome Powell suggested the central bank might consider a pause in its interest rate hikes next year.
Trump Medicare plan targets drugs from Eli Lilly, others
Makers of antidepressants and antipsychotics like Indianapolis-based Eli Lilly and Co., AstraZeneca, Pfizer, Allergan, Bausch Health and Otsuka Holdings might face new challenges and may be deterred from price hikes.
General Motors to slash 14,700 jobs in North America, close plants
The nation’s largest automobile manufacturer said it could close up to five plants and eliminate several car models.
Old-school retailers struggle to keep up with online surge on busy Black Friday
Black Friday is increasingly an online shopping event, and that’s not necessarily a good thing for legacy retailers, some of which found themselves falling behind during America’s annual spending spree.