Allison Transmission sees first-quarter profit, revenue decline
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
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Called to order: Supreme Court holds first arguments by phone
The high court had initially postponed arguments in 20 cases scheduled for March and April because of the coronavirus pandemic. But the justices ultimately decided to hear 10 cases by phone over six days this month.
Reopened shopping centers getting off to slow start
Indianapolis-based Simon Property Group, the nation’s largest mall operator, reopened several dozen shopping centers across Texas, Georgia and roughly 10 other states from Friday to Monday.
FDA steps up scrutiny of coronavirus antibody tests to ensure accuracy
Officials said “unscrupulous actors” have been “marketing fraudulent test kits and using the pandemic as an opportunity to take advantage of Americans’ anxiety.”
Paycheck Protection Program approving smaller loans this time around
The federal Paycheck Protection Program, which offers COVID-19 relief to small businesses, was criticized for allowing larger companies to secure multimillion-dollar loans early on.
State to investigate complaints of businesses not producing safety plans to reopen
Under Gov. Eric Holcomb’s latest executive order issued Friday, employers are required to develop safety plans for employees and customers by May 11.
Engineered Medical Systems sees orders for respiratory products soar 600%
The Indianapolis-based company is expanding operations and trying to hire an additional 30 assembly workers to keep up with skyrocketing orders from the COVID-19 pandemic.
ISO cancels Symphony on the Prairie, all summer concerts
The move also cancels ISO’s Lunch Break Series, the last three Hilbert Circle Theatre concerts in its 2019-2020 classical series and several special performances.
Government report predicts COVID-19 cases will reach 200,000 a day by June 1
The document predicts a sharp increase in both cases and deaths beginning about May 14.
Return of retail in Indy area far from business as usual
A smattering of shoppers found a mixed bag of offerings on the first day that nonessential stores were allowed to open, with many retailers remaining closed or still providing pickup-only service.
Indiana’s total of COVID-19 cases rises above 20,000
The Indiana State Department of Health on Monday announced the lowest number of new cases in a daily report since April 22.
Indiana won’t decide whether to reopen schools until at least July, Holcomb says
The decision is expected to be made around July 4 at the earliest, Gov. Eric Holcomb said— about a month before many Indiana districts typically return.
Lilly teams with Chinese biotech to develop COVID-19 antibody
The partnership marks at least the fourth program Lilly is pursuing to find treatments for COVID-19, a disease that has claimed more than 249,000 lives worldwide, including more than 68,000 in the U.S.
Fishers brewpub joins surge in eateries permanently closing doors
The locally owned eatery and craft brewery opened in late 2014 in the former location of Blue Crew Sports Grill.
Fashion retailer J. Crew files for bankruptcy protection
Even before COVID-19 spread, the company was struggling because shoppers were defecting to online merchants and consumer tastes were changing.
Roche’s COVID-19 antibody test gets emergency FDA approval
Roche Diagnostics’ North American headquarters in Indianapolis will be the shipping and distribution hub for all tests distributed in the United States, the company said.
Retailers outside Marion County have green light to reopen
The reopening of shops—at no more than 50% of capacity—is part of Gov. Eric Holcomb’s plan to gradually relax social distancing rules over the next nine weeks.
COVID-19 having impact on other patients, medical practice finances, survey says
A survey by the Indiana State Medical Association highlights two impacts from the pandemic and the related shutdown efforts: One to the financial condition of medical practices and one to public health if non-COVID 19 patients continue to delay treatment.
Indiana banks sock away extra money for COVID-19-related loan losses
Amid the widespread economic disruption caused by the pandemic, banks have already granted payment deferrals of up to six months to a significant number of commercial and individual borrowers.
IBJ Podcast: The rent is due, and tenants are struggling as unemployment soars
Advocates for both low-income residents and landlords are calling for an emergency rental assistance program that would help tenants cover payments and keep revenue flowing for apartment owners.
