KAR’s stock spikes following acquisition of software firm
Auction Frontier sells a cloud-based software called Velocicast that is the backbone of KAR’s live, online auto auctions.
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Holcomb vetoes bill that would cut power of local health officials
Gov. Eric Holcomb’s veto marks another pushback against fellow Republicans’ legislative efforts to weaken the powers of the governor or others during emergencies such as the pandemic.
Treasury secretary suggests Biden plans may require rate hikes, spooking investors
Janet Yellen’s comments reignited fears raised by some economists and business leaders that trillions of dollars in new spending that the government has authorized since March 2020 could lead the Federal Reserve to take steps that cool off the economy.
Biden aims for vaccinating 70% of adult Americans by July 4
The new goal comes as demand for vaccines has dropped off markedly nationwide, with some states leaving more than half their vaccine doses unordered.
Local refugee organizations prepare to rebuild after Biden raises cap
Indianapolis refugee organizations have seen only a trickle of refugees since last October, but are now set for a greater influx after President Joe Biden quadrupled the annual cap on the number of refugees allowed in the United States.
State reports 12 more deaths from COVID-19, rise in hospitalizations
The state said more than 1.96 million Hoosiers had been fully vaccinated against COVID-19 as of Tuesday. More than 2.37 million had received the first dose of a two-dose vaccination.
Real Estate Weekly: News notes, 05/04/21
These news notes appeared in IBJ’s Real Estate Weekly on May 4, 2021.
Apartment complex planned near Allisonville and 46th Street
Preliminary site plans filed with the city call for the construction of five new apartment buildings and the retention of a two-story office building on the 8.6-acre property.
Cummins raises full-year outlook after better-than-expected quarterly results
Indiana-based engine manufacturer Cummins Inc. on Tuesday reported first-quarter revenue and profit that exceeded analyst expectations.
Veteran franchisees bringing Dave’s Hot Chicken chain to Indy
A Fort Wayne-based franchise group that operates 45 Pizza Hut locations, including some in Hamilton and Boone counties, has signed a deal to open 15 Dave’s Hot Chicken locations in Indiana. Most are expected to be in the Indy-area market.
Milestone Business Solutions to add 40 jobs
The company, which operates remotely, said it also will spend $171,500 to establish a physical location in central Indiana in 2022 to help support its growing national customer base.
After year off, Indiana State Fair will return this summer
The Indiana State Fair Commission announced Tuesday that the fair will be July 30 to Aug. 22 but may look a little different to meet health requirements.
Benefits firm First Person Advisors acquired by leading insurance broker
First Person, founded in 1997 by Bryan Brenner, is expected to keep operations in Indianapolis. Under the deal, New York-based NFP Corp. will keep all 55 First Person employees.
FDA expected to OK Pfizer vaccine for teens within week
Officials hope that extending vaccinations to teens will further accelerate the nation’s reduced virus caseload and allow schools to reopen with minimal disruptions this fall.
Carmel City Council OKs $25 million bond with minor modifications
The Carmel City Council approved the issuance of $25 million in tax increment financing bonds Monday after holding eleven public meetings to discuss and evaluate the city administration’s request.
Developers seek financing help for $96M in Carmel residential projects
The developer behind the Proscenium development in Carmel is expanding the project across the street, and an Indianapolis-based developer is planning to dive into the Carmel market with a $78 million project.
Apple, Epic Games face off in court over app store
Apple’s lucrative app store was alternately portrayed as a price-gouging monopoly and a hub of world-changing innovation during the preamble to a trial that may reshape the technological landscape.
Biden quadruples Trump refugee cap after delay backlash
Refugee resettlement agencies have waited for Biden to quadruple the number of refugees allowed into the United States this year since Feb. 12, when a presidential proposal was submitted to Congress saying he planned to do so.
Rental companies buy up used cars as chip crisis deepens
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows that they’re 52% higher than they were a year ago.
Powell sees need to help most vulnerable in uneven recovery
Federal Reserve Chairman Jerome Powell said that labor force participation had declined 4 percentage points for Black and Hispanic women compared to 1 percentage point for white women and about 2 percentage points for all men.