Microsoft layoffs suggest broader pain to come for economy
The tech giant is the latest to cut workers amid economic uncertainty that has taken a heavy toll on the tech, finance, media and housing sectors.
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Fed’s Mester: Rate hikes have begun to quell U.S. inflation
Loretta Mester, a key Federal Reserve policymaker, said further rate hikes are still needed to decisively crush the worst inflation bout in four decades.
December retail sales fall 1.1% as inflation takes toll
Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
Downtown’s Allen Plaza sold to local investment group
The building’s 58,800 square feet of office and retail space is now mostly vacant, following exits in recent years by Scotty’s Brewhouse, HomeAdvisor and third-party logistics company Backhaul Direct.
Indy 500 Snake Pit concert lineup includes DJs Kaskade, Shaquille O’Neal
Seven-time Grammy Award nominee Kaskade will headline the 18-and-older party on race day in May at the Indianapolis Motor Speedway. Basketball Hall of Famer O’Neal also is on the five-act bill.
Wholesale inflation in U.S. eased further in December
The ongoing slowdown in wholesale price growth is adding to evidence that the worst bout of inflation in four decades is steadily easing, though it remains far above the Federal Reserve’s target of 2%.
Microsoft laying off 10,000 as job cuts in tech sector spread
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
Bill seeking elimination of township assessors advances to House chamber
Currently, there are 13 township assessors in nine different Indiana counties. The remaining 83 counties only have a county assessor.
Lilly plans to construct 12 buildings at LEAP campus in Boone County
The company’s more detailed plans for the project reveal the 12 buildings would range in size from a 3,200-square-foot visitors center to a pair of three-story, 330,000-square-foot manufacturing facilities.
Indianapolis Public Library brings in temporary outside executive
Anita J. Harden, founder of Interim Executives LLC and a former president of Community Hospital East, will be a contractor for up to a year, and the library system will pay her up to $190,000 for her services.
Indiana horse racing a $2B industry, study finds
Indiana’s horse racing industry has more than doubled in economic value in the past decade, according to a study led by Purdue University.
DOJ offers 75% reduction in fines to companies that admit crimes
In some cases, companies could avoid any fines when they voluntarily disclose misconduct, cooperate with investigations and fully prevent the problems from recurring.
United Airlines posts $843 million profit, bullish on 2023
The report from United comes on the heels of upbeat comments by its closest rivals, Delta Air Lines and American Airlines. Officials with all three carriers say that consumers are still booking travel despite concern about the economy.
Small retailers could seek fighting chance under Roosevelt-era antitrust law
For years, Robinson-Patman was a mainstay of FTC enforcement. But the law fell out of favor as antitrust experts focused on consumer prices, arguing that retailer discounts would likely be passed on to consumers.
City to spend $4.5M on program to raise Black homeownership
The Vacant to Vibrant initiative, announced Tuesday, will utilize about 100 lots in several neighborhoods that have fallen into disrepair and are held in the city’s land bank.
Sato joins Ganassi, to race ovals only in IndyCar
Two-time Indianapolis 500 winner Takuma Sato will share the No. 11 Honda with rookie Marcus Armstrong, who was hired to drive the IndyCar street and road course races for Ganassi.
Motorsports team HMD converting former Marsh to new Brownsburg headquarters
Renovations to the building are already underway, with HMD expected to move into the facility sometime in the summer.
DHL investing nearly $120 million in Johnson County supply-chain project
In an incentive contract with the Indiana Economic Development Corp., the logistics firm says it will create as many as 676 jobs at the facility by 2027.
Indiana City Brewing equipment heading for auction
The Indianapolis-based brewery is slated to have its equipment sold at auction next month, but it continues to look for new ownership prior to the sale.
Wheeler Mission names Perry Hines as president, CEO
Chief Development Officer Hines will succeed Rick Alvis, who has led Wheeler Mission for nearly 33 years.
