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U.S. economy shrank 0.9% last quarter, its 2nd straight drop
The decline that the Commerce Department reported Thursday in the gross domestic product—the broadest gauge of the economy—followed a 1.6% annual drop from January through March.
JetBlue agrees to buy Spirit for $3.8 billion
The agreement would create the nation’s fifth-largest airline, with a fleet of 458 aircraft.
Manchin says he has reached deal with Democrats on economy, climate bill
The deal aims to lower health-care costs, combat climate change and reduce the federal deficit, marking a massive potential breakthrough for President Joe Biden’s long-stalled economic agenda.
Drive-thru coffee shop 7 Brew plans expansion to Indianapolis
Arkansas-based 7 Brew launched a franchise program after the founders of Jimmy John’s and Lone Star Steakhouse invested in the company.
IPS reports jump in share of freshmen on track to graduate
Some of the biggest gains happened at Crispus Attucks and George Washington high schools, which each reported an increase of 20 percentage points for on-track rates compared to last year.
Ag tech startup closes $3.5M funding round for livestock fertility platform
The technology, Fertile-Eyez, analyzes swine fertility, which enables livestock producers to accelerate reproduction among the herd.
Ex-congressman from Indiana gets bail in stock fraud case
U.S. District Judge Richard M. Berman in Manhattan also ordered Stephen Buyer of Noblesville to stay in the continental United States while four counts of securities fraud are pending against him.
With Frontier deal dead, Spirit ponders sale to JetBlue
Spirit Airlines and Frontier Airlines agreed Wednesday to abandon their merger proposal, opening the way for JetBlue Airways to acquire Spirit after a months-long bidding war for the budget carrier.
Facebook reports first-ever decline in revenue, hinting at darkening economy
Facebook executives warned that marketers are pulling back spending in part because of an uncertain economic environment, which has some experts warning a recession could be on the horizon.
U.S. Senate passes bill to boost computer chip production in United States
| Associated Press and IBJ Staff
Indiana Gov. Eric Holcomb praised the Senate’s vote in a written statement. Holcomb and state economic development leaders are rooting for the bill because the state would like to tap federal funding to land a $1.8 billion semiconductor plant at Purdue University.
Fed unleashes another big rate hike in bid to curb inflation
The Fed is tightening credit even while the economy has begun to slow, thereby heightening the risk that its rate hikes will cause a recession later this year or next.
Indianapolis-based Aearo files for bankruptcy protection amid flood of lawsuits
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Ellison Brewing Co. cites decreased downtown activity in decision to close
The owner of the craft beer business founded in Michigan said the COVID-19 pandemic sealed the fate of the downtown Indianapolis location near Rolls-Royce Meridian Center.
Doctor in 10-year-old rape victim’s abortion faces Indiana AG probe
Indiana Attorney General Todd Rokita sent a notice to the legal team for Caitlin Bernard on Tuesday advising it that the doctor is under investigation for how she had reported the procedure to state officials.
Ganassi sues IndyCar champion Alex Palou over contract dispute
Chip Ganassi Racing filed a civil lawsuit in Marion County against the Spanish driver who is attempting to leave the team at the end of the season.
The Freedom Forum podcast: Angela Smith Jones, vice president of diversity and inclusion for the Health & Hospital Corporation of Marion County
Jones explains how she has incorporated lessons from her previous role as deputy mayor of economic development for the city of Indianapolis into her new role focusing on DEI in the health care sector.
Fed set to impose another big rate hike to fight inflation
When it ends its latest policy meeting Wednesday afternoon, the Fed is expected to impose a second consecutive three-quarter-point hike in its benchmark interest rate, raising it to a range of 2.25% to 2.5%.
New studies bolster theory coronavirus emerged from the wild
The research, published online Tuesday by the journal Science, shows that the Huanan Seafood Wholesale Market was likely the early epicenter of the scourge that has now killed nearly 6.4 million people around the world.
Longtime Indiana senator leaves Republican caucus amid abortion debates
Indiana Sen. Mike Young has resigned from the Republican caucus amid disagreements over the GOP approach to abortion-restricting legislation.