Work-from-home trend makes lumber a winner, paper a loser
While the demand for printing papers had been in slow decline before the pandemic, the magnitude of the drop during COVID-19 has been a surprise.
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Amazon closer to launching satellites, upping internet reach
Amazon received government approval to put more than 3,200 satellites into orbit with the goal of beaming internet service to earth. The company said it will spend $10 billion on the initiative.
United States sinks another $2.1 billion into potential COVID-19 vaccine
The vaccine prospect is based on the existing DNA-based technology that is used to produce Sanofi’s seasonal flu vaccine. It is one of several vaccines in development.
U.S. consumer spending increased 5.6% in June, but could be easing again
With confirmed viral infections rising in a majority of states, many businesses have had to pause their re-openings or close a second time and cut jobs, thereby putting consumers under renewed pressure.
U.S. wages, benefits grow at slowest pace in three years
With unemployment so high, workers who still have jobs have less ability to resist pay cuts or demand raises.
Fast-growing Sharpen Technologies could add 75 employees by end of 2021
Sharpen Technologies, an Indianapolis-based developer of cloud-based customer service software, came out of the gates fast this year, and despite a pause in March has continued to experience dramatic growth right through the pandemic.
Proposed 40-story Signia at Pan Am Plaza to shake up hotel landscape
The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
Amazon’s virus stumbles have been boon for Walmart, Target
Former and current Amazon executives who spoke on the condition of anonymity because they weren’t authorized to speak publicly say no company could fully prepare for the crush of orders stemming from a global pandemic.
Trump offers, but Democrats reject short-term fix for $600 jobless benefit
Democratic leaders panned the idea in late-night talks at the Capitol, opting to keep the pressure on for a much more expensive and sweeping bill.
IPS board delays return to classrooms until at least October
IPS struggled with the shift to remote instruction in March, but officials said they were taking steps to mitigate problems this time around.
Second U.S. virus surge hits plateau, but public health experts remain wary
Dr. Anthony Fauci, the government’s foremost infectious-disease expert, said he’s worried about rising percentages of tests coming back positive in states like Ohio, Kentucky, Tennessee and Indiana.
Dunkin’ to close 800 U.S. stores as pandemic hurts sales
The 800 stores represent 8% of Dunkin’s U.S. footprint but just 2% of its sales.
Pfizer executive targets end of year for COVID-19 vaccine
The developers said they have the potential to manufacture up to 100 million vaccine doses by the end of this year and up to 1.3 billion doses by the end of 2021.
Analysis: Did third of economy really vanish in just three months?
The Commerce Department reports quarterly GDP at an annual rate to allow easy comparisons to other time periods. Remove the annualization, and we see the economy contracted a still-abysmal 9.5%.
Luxury retailer Louis Vuitton to open first Indianapolis store
Louis Vuitton is ranked as the world’s most valuable luxury brand, with a value of $47.2 billion, topping Chanel, Hermes, Gucci, Rolex and others.
Indiana COVID-19 cases hit second-highest mark as testing rises
Indiana has now seen more than 65,000 confirmed positive cases of COVID-19. Global numbers have surpassed 17 million.
Marion County health officials cap middle, high school capacity at 50%
Marion County Public Health Department Director Virginia Caine also recommended that high-risk teachers and students be allowed to opt out of in-person instruction.
Former presidential candidate Herman Cain dies of COVID-19
Before becoming a political pundit and candidate, Cain was a highly successful food industry executive. He earned a master’s degree in computer science from Purdue University in 1971.
United States, Indiana see weekly rise in unemployment claims
More than 1.4 million laid-off Americans applied for unemployment benefits last week, marking the 19th straight week that more than 1 million people have applied for unemployment benefits.
U.S. economy shrank at record-breaking 33% rate last quarter
The contraction last quarter was driven by a deep pullback in consumer spending, which accounts for about 70% of economic activity.