Small business COVID-19 relief program runs out of money
As of Sunday, the Paycheck Protection Program had given out nearly 10.8 million loans worth more than $780 billion since April of last year.
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Biden repeals Trump-era rule on gig workers
The Biden administration nullified a Trump-era rule Wednesday that would have made it easier to classify workers as independent contractors, blocking a change supported by delivery and ride-hailing services.
Hamilton Town Center multiplex to reopen as luxury theater
Michigan-based Emagine said it expects to reopen the Noblesville theater this summer. The theater’s previous operator filed for bankruptcy last year.
Ponzi schemer Cochran escalates fight for early release on COVID grounds
Jim Cochran, who is serving a 25-year prison sentence for his role in the Fair Finance fraud, says he has undergone a religious conversion that no longer makes him a risk to society.
More than 2 million Hoosiers now fully vaccinated
Despite the rising vaccination numbers, COVID-19 cases in Indiana rose again and hospitalizations hit to their highest mark since mid-February
GM profit surges to nearly $3B on sales of higher-margin trucks
The company said it was able to divert precious computer chips to higher-profit models such as full-size pickup trucks and SUVs, and that brought the higher income.
These Indiana schools to get the most money per student in latest stimulus package
Schools serving high-poverty students, among the campuses hardest hit by COVID-19, will receive the most per student in federal relief.
Bill and Melinda Gates divorce could shake up philanthropy
The split between the billionaire co-founders of the world’s largest private foundation is already sending a wave of anxious uncertainty through the worlds of philanthropy and community health.
Pfizer coronavirus vaccine on pace to become world’s top-selling pharma product
Pfizer Inc. said Tuesday that it expects global sales of its coronavirus vaccine to reach $26 billion in 2021. Its success helps illustrate why Pfizer is planning to expand use of mRNA technology for other vaccines and therapies.
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.
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.