U.S. productivity declines more than forecast, labor costs climb
Quarterly productivity figures are extremely volatile, but if the latest decline is sustained, it risks keeping inflationary pressures elevated.
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Debt ceiling breach could wipe out 8 million jobs, White House says
The White House Council of Economic Advisers compared the potential economic impact of a debt ceiling breach to the 2008 Great Recession, in which economic growth contracts sharply and unemployment surges.
Zionsville to develop nature preserve at former Wolf Run Golf Course site
Plans call for the Carpenter Nature Preserve to have enhanced wetlands, woodlands and prairies, along with boardwalks, a nature-inspired playground and Eagle Creek overlooks.
United plans to hire 15,000, adding to surge in airline jobs
Airlines are trying to avoid a rerun of last year, when they were caught unprepared for a rapid recovery in air travel.
Regulators: Facebook misled parents, failed to guard privacy of children
The Federal Trade Commission on Wednesday proposed sweeping changes to a 2020 privacy order with Facebook—now called Meta. The FTC said the company has failed to fully comply with the order. Meta called the announcement a “political stunt.”
Hate passwords? Google plans to sideline them with passkeys
Passkeys are designed to offer a safer alternative to passwords and texted confirmation codes. Here’s what you need to know.
Scientists warn of AI dangers but don’t agree on solutions
Computer scientists who helped build the foundations of today’s artificial intelligence technology are expressing concerns, but that doesn’t mean they agree on what the dangers are or how to prevent them.
McDonald’s franchisees fined for child labor violations
Federal officials say two 10-year-olds are among the 300 children who worked for three separate franchisees that operate a total of 62 McDonald’s locations across Kentucky, Indiana, Maryland and Ohio.
Fed raises key rate, but hints it might pause amid bank turmoil
The Federal Reserve said it will consider a range of factors in “determining the extent” to which future hikes might be needed.
Purdue, IEDC, Belgian firm partner to advance Indiana’s semiconductor industry
Purdue, the IEDC and Belgium-based Imec announced Wednesday that they have entered into a five-year memorandum of understanding to advance Indiana’s semiconductor industry, with each party providing “significant investment” to the partnership.
Changes coming to Westfield, Carmel city councils
The Westfield City Council will see a complete turnover in members next year and Carmel will see a number of new councilors.
500 Festival makes public launch of $5M capital campaign
The campaign was privately launched in 2021 and has already raised $3.4 million from more than 150 donors.
Eli Lilly says experimental drug slows decline from Alzheimer’s
If approved, Donanemab has annual multi-billion-dollar sales potential. Lilly shares rose 6% in early-afternoon trading.
Darden buys Ruth’s Chris Steak House for about $715M
Indianapolis is home to two Ruth’s Chris locations—downtown at 45 S. Illinois St. and on the north side at 2727 E. 86th St.
Hogsett wins chance to seek a third term, will face best-funded GOP foe yet
Indianapolis Mayor Joe Hogsett soundly defeated Democratic challenger Robin Shackleford in Tuesday’s primary election, setting up a November showdown with Jefferson Shreve, a largely self-funded millionaire candidate who handily won the GOP nomination.
Elanco earns USDA’s OK for potential blockbuster parvovirus treatment
Elanco Animal Health President and CEO Jeff Simmons said the treatment is a potential blockbuster drug, with potential annual sales of more than $100 million.
Gentry, Stehr win Republican mayoral primaries in Lebanon, Zionsville
A two-term incumbent and a well-known former television journalist won Republican mayoral primaries Tuesday night in Boone County.
Retailer Tuesday Morning closing all stores, begins clearance sales
The discount home goods retailer has one remaining store in Indianapolis and another in Carmel that will soon be closing their doors.
Three Democratic incumbents on City-County Council defeated
Council vice president Zach Adamson and 30-year council veteran Monroe Gray were among those defeated.
School referendums for IPS, Speedway, Warren approved by voters
Three Marion County school districts had funding proposals on the ballot as voters headed to the polls Tuesday. And all three received approval.