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The U.S. economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in exports in 40 years overwhelmed a rebound in consumer spending. The Commerce Department’s report, released today, dashed hopes that the recession’s grip on the country loosened in the first […]

Indiana lawmakers will be scrambling to meet tonight’s midnight deadline for adjourning the legislative session, but differences remained yesterday over a new state budget and fixing Indiana’s bankrupt unemployment insurance fund. Negotiators for House Democrats and Senate Republicans said yesterday that they had reached a tentative compromise on a plan designed to start fixing the […]

Pharmacy benefits manager Medco Health Solutions Inc. said today that new clients and increased use of higher-margin generic drugs boosted its profit in the first quarter, with results exceeding Wall Street’s expectations. Medco, based in Franklin Lakes, N.J., is building a $140 million automated pharmacy in Boone County that is expected to employ 1,300 people […]

When Ed Pegler was laid off from his highway construction job four months ago, the 47-year-old father of two didn’t know when he’d be back to work. Then the phone rang. There was a job, paid for by the federal stimulus law. It’s a story the White House hopes to repeat 3.5 million times, to […]

State legislators seem willing to give Indianapolis officials the power to raise several local taxes to help fund the city’s troubled stadiums agency. That plan, though, would force Mayor Greg Ballard to take some of the heat for increasing any of those taxes – and the task of persuading the Indianapolis Colts and Indiana Pacers […]

The state’s largest school district is cutting 300 teaching jobs in an effort to save about $25 million. The Indianapolis Public School Board voted last night to also cut 40 non-teaching jobs and move others into lower-paying positions. The district plans to use federal stimulus money to keep about 200 of the laid-off teachers as […]

Negotiators for House Democrats and Senate Republicans have reached a tentative compromise on a plan designed to start fixing Indiana’s bankrupt unemployment insurance fund, but remained at an impasse today on a new state budget. Lawmakers were scrambling to finish business before tomorrow’s midnight deadline for adjourning the regular session. Although negotiations continued on several […]

A young adult from northern Indiana has the state’s first confirmed case of swine flu, but the state health commissioner says the person is “doing well.” Health Commissioner Judy Monroe said today the person was a young adult from northern Indiana, but released no other details. She said that the ill person had not recently […]