Fed chairman says inflation, though elevated, will likely moderate
Federal Reserve Chairman Powell reiterated his long-held view that high inflation readings over the past several months have been driven largely by temporary factors.
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Wholesale inflation over past year jumps by record amount
Nearly 60% of the gain in wholesale prices in June reflected a jump in the cost of services, led by higher margins received by wholesalers and retailers.
Lilly buys California diabetes biotech in deal potentially worth $1 billion
The Indianapolis-based drugmaker said the deal to buy Protomer Technologies could be worth up to $1 billion if the technology meets certain milestones. Lilly did not say how much it was paying up front in cash.
Parks department plans to buy Broad Ripple community center after construction
Indy Parks said Tuesday that it expects to spend more than $20 million to acquire the 40,000-square-foot facility and avoid shelling out nearly $1 million per year as part of a long-term lease agreement.
U.S. COVID-19 cases rising again, doubling over three weeks
The COVID-19 curve in the U.S. is rising again after months of decline, with the number of new cases per day doubling over the past three weeks, driven by the fast-spreading delta variant, lagging vaccination rates and Fourth of July gatherings.
Senate Democrats announce $3.5 trillion budget agreement
Senate Democrats announced late Tuesday that they’d reached a budget agreement envisioning spending an enormous $3.5 trillion over the coming decade, paving the way for their drive to pour federal resources into climate change, health care and family-service programs sought by President Joe Biden. The accord marks a major step in the party’s push to […]
Judge grants The GOAT another hearing to determine if Carmel bar can stay in business
A Hamilton County Superior Court Judge has ordered the Carmel Board of Zoning Appeals to vacate its denial of The Greatest of All Tavern’s special-use variance and conduct another hearing after he found the board violated Open Door requirements.
Urban Vines owner snips self-storage, lodging from Westfield project to focus on apples
As proposed, the Urban Apples concept would include an apple orchard, a cidery and family-friendly amenities.
Real Estate Weekly: News notes, 07/13/21
These news notes appeared in IBJ’s Real Estate Weekly on July 13, 2021.
Indiana sees largest number of new COVID-19 cases since May 27
Statewide hospitalizations due to COVID-19 jumped from 399 on Sunday to 450 on Monday, the highest number in nearly a month.
Town of Speedway names new town manager
Grant Kleinhenz previously served as town manager of Brownsburg and in municipal management positions in several other towns or cities.
Developer to start work on Broad Ripple Park community center
Indy Parks is expected to lease at least 25,000 square feet in the building for 30 years.
U.S. consumer prices surged in June by the most since 2008
The pickup in inflation, which has coincided with the economy’s rapid recovery from the pandemic recession, has heightened concerns that the Federal Reserve might feel compelled to begin withdrawing its low-interest rate policies earlier than expected.
Crown Liquors eyeing Fountain Square for large, high-end store
The outpost near the heart of Fountain Square’s business district would be the second-largest of 19 stores in the chain. Two local groups have opposed it, and its hearing for a state liquor permit is set for next month.
New downtown restaurant to pay tribute to Hulman family
The Hulman restaurant is the result of a partnership with the IMS Museum, which holds rights to Tony Hulman’s name and likeness.
Sanders, Biden meet as infrastructure bill swells past $3.5T
Sen. Bernie Sanders said Monday that he and President Joe Biden are on the same page as Democrats draft a “transformative” infrastructure package unleashing more than $3.5 trillion in domestic investments on par with the New Deal of the 1930s.
Council approves $135M in tax-increment financing bonds for Elanco project
The tax-increment financing bonds will be used to pave the way for Elanco Animal Health Inc. to build its new headquarters on the former General Motors stamping plant property west of downtown.
Lawsuit seeks $150M from Indiana online schools fraud claims
The lawsuit announced Monday by the Indiana attorney general’s office comes nearly two years after Indiana Virtual School and Indiana Virtual Pathways Academy shut down amid a state investigation.
Appeals court: Indiana must resume unemployment benefits
The Indiana Court of Appeals ruled Monday that the state temporarily continue payment of federal unemployment benefits, affirming an earlier court order that Indiana must restart the extra $300 weekly payments to unemployed workers.
Indiana reports 157 new COVID-19 cases
The state said more than 2.87 million Hoosiers have been fully vaccinated against COVID-19. More than 2.84 million had received the first dose of a two-dose vaccination.