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Powell: Fed will decide on rate hikes ‘meeting by meeting’
Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession.
Tech Exec of the Year & Tech 25
You’ve taken the time to nominate your top technology leaders, now it’s time to find out who came out on top! Tickets are on sale now for IBJ & TechPoint’s Tech Exec of the Year & Tech 25 recognition event August 23rd!
Here’s how IPS has spent its federal pandemic funding so far
Indianapolis Public Schools has spent around 10% of its $213.5 million in federal COVID-19 funding to date. That figure is low compared to other districts in Indiana and across the country, but IPS officials are preparing to spend the full allocation.
Oil refineries are making a fortune, but that’s not stopping them from closing
A White House desperate to bring down gas prices is having little success persuading refinery owners to expand operations, and more closures are imminent.
Senators reach bipartisan compromise on gun violence bill
The legislation would toughen background checks for the youngest firearms buyers, require more sellers to conduct background checks and beef up penalties on gun traffickers.
Pilots picket as airline unions leverage summer travel woes
The protest, which the union said drew up to 1,300 Southwest Airlines pilots, was the latest example of airline workers trying to put pressure on companies by taking their demands for higher pay directly to the flying public.
Labor board takes Starbucks to court over alleged violations
The National Labor Relations Board is asking a federal court to order Starbucks to stop interfering with unionization efforts at its U.S. stores. It’s the third time the board has filed a case in federal court against Starbucks since December.
Supreme Court says Maine cannot deny tuition aid to religious schools
The 6-3 outcome could fuel a renewed push for school choice programs in some of the 18 states that have so far not directed taxpayer money to private, religious education.
Westfield extends deadline for Grand Park proposals
The city announced Tuesday that is has extended the deadline from June 22 until July 25 because appraisers asked for additional time to perform their work at the 400-acre sports campus.
AES Indiana electricity customers could see 19% price hikes this fall
AES Indiana, formerly known as Indianapolis Power & Light Co., is asking state regulators for permission to increase prices under a mechanism that allows it to adjust prices based on fluctuations in the cost of fuel.
Spot Freight adding 240 employees in Indianapolis
Spot has been on IBJ’s Fast 25 list of growing companies four times, including from 2015 to 2017 and in 2021.
Supreme Court rejects appeal from Roundup maker over cancer claims
The decision by the justices not to intervene has implications for thousands of similar lawsuits against the company Bayer.
Snap, crackle, pop: Kellogg to split into three companies
Kellogg’s had net sales of $14.2 billion in 2021, with $11.4 billion generated by its snack division, which makes Cheez-Its, Pringles and Pop-Tarts, among other brands. U.S. cereal sales have been waning for years.
U.S. charitable giving hit record in 2021, but inflation looms
The Giving USA report from Indiana University’s Lilly Family School of Philanthropy says donations in 2021 were 4% higher than the record-setting $466 billion contributed in 2020. But that amount was down 0.7% when adjusted for inflation.
Indianapolis, other cities go without lifeguards amid labor shortage
The American Lifeguard Association estimates the shortage affects one-third of U.S. public pools. That is expected to grow to half of all pools by August, when many teenage lifeguards return to school.
Boone County property owners asking Lebanon to annex hundreds of acres
The annexation requests come as the Indiana Economic Development Corp. pushes forward with its plans for the LEAP Lebanon Innovation and Research District.
Carmel City Council votes to ban pet stores from selling cats and dogs
City Councilor Adam Aasen said he wanted to make a proactive move to ensure animals from puppy and kitten mills can’t be sold in Carmel in the future.
Mondelez agrees to acquire energy-bar maker Clif for $2.9B
Clif Bar & Co. operates a major commercial bakery in Indianapolis that employs more than 400 workers. The plant at 7575 Georgetown Road received a $10 million expansion in 2019.
Indiana gas tax set to increase while state eyes inflation relief
Indiana residents will soon pay 62 cents per gallon in taxes on gasoline, the state Department of Revenue announced Monday.
