Rebounding banks see tailwinds ahead
After a tough 2023, most publicly traded banks in the Hoosier state have seen at least a partial rebound in their stock prices this year.
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Inflation gauge ticks higher with price pressures still stubborn
Consumer prices rose 2.3% in October from a year earlier. That’s up from 2.1% in September, although it’s still only modestly above the Fed’s 2% target.
U.S. economy grew at 2.8% pace in third quarter on strong consumer spending
Within the GDP data, a category that measures the economy’s underlying strength rose at a solid 3.2% annual rate from July through September, up from 2.7% in the April-June quarter.
Applications for new homes jump 29% in central Indiana
Only one county in the nine-county Indy area reported a year-over-over decrease in single-family building permit filings in October.
Some IPS students leave for Washington Township following rocky Broad Ripple Middle School opening
More than 130 students have left Broad Ripple Middle School since its debut at the start of the school year. Some departing families cited poor communication and a chaotic environment. Some who stayed see significant improvements.
Thanksgiving meal in Hoosier state expected to cost a bit less than last year, per report
The market survey is conducted each year by volunteer shoppers across Indiana who search for the best prices while not using coupons or special promotions.
After fast start, electric cars need a recharge as range limits, cost leave some drivers skeptical
Adding to the headwinds: an incoming new U.S. president who has disparaged government support for electric vehicles.
Trump fills out his economic team with two veterans of his first administration
Trump on Tuesday announced he has chosen international trade attorney Jamieson Greer to be his U.S. trade representative and Kevin Hassett as director of the White House National Economic Council.
Rally pitch contest winner secures $5M investment as asthma test awaits approval
MyBiometry, a Massachusetts-based health technology firm that was one of five winners of the Rally IN-Prize pitch contest last year, has secured $5 million in seed funding and hired its first Indiana employees.
Lilly Endowment CEO gets 2024 Sachem Award
Indianapolis philanthropic leader Clay Robbins is the 19th person to receive the award, meant to honor outstanding community contributions.
Walmart rolling back DEI commitments amid conservative backlash
The retailer has replaced the term DEI with “belonging” and no longer plans to consider race and gender when choosing suppliers—the latter a practice it adopted after the 2020 murder of George Floyd.
U.S. consumer confidence ticks higher on better outlook for hiring
The Conference Board doesn’t break out its responses by party, but another measure of consumer sentiment by the University of Michigan showed that optimism about the economy jumped among Republicans after the election.
Federal Reserve officials signal cautious path for rate cuts amid still-high inflation
Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting.
Speedway economic development leader to depart, join Indy DMD
Carmen Lethig held the economic development role for nine months, following more than four years as administrator of long-range planning with the city of Indianapolis.
Zionsville receives $4M from state grant fund for infrastructure projects south of Village
Among the projects: A dog-bone-style roundabout will connect Main Street and First Street, and another roundabout would be built to the north at Sycamore Street and First Street.
Small business owners breathe easier over labor costs after decision to strike down overtime rule
On Nov. 15, a federal judge in Texas blocked a new rule from the Biden administration that would have expanded access to overtime pay to millions more salaried workers across the U.S.
Pair of apartment projects in works along MLK in downtown’s northwest quadrant
The developments, known as The Kennedy and The Chloe, will offer market-rate and workforce housing options for residents near IU Indianapolis and IU Health’s $4.3 billion hospital campus.
Indiana ratepayer advocates hail ‘landmark’ settlement with data centers, utility company
If state regulators approve the settlement, it’ll also apply to new industrial customers with large electric loads.
Triton Brewing Co. to close after 13 years at Fort Ben
Triton Brewing Co., known for its Rail Splitter IPA, was an early participant in the rise of Indianapolis craft beer makers.
Lilly shares get bump from pricey Biden proposal for covering weight-loss drugs
While the proposed rule would give millions of people access to weekly injectables like Eli Lilly and Co.’s Zepbound that have helped people shed pounds, it would cost taxpayers as much as $35 billion over the next decade.