Inflation eases but stays high, putting Fed in tough spot
Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week.
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Following Lilly’s lead, Novo Nordisk plans insulin price cuts
Novo Nordisk will start slashing some U.S. insulin prices up to 75% next year, following a path set earlier this month by rival Eli Lilly and Co.
Becknell planning 1.1 million-square-foot industrial building on Marion-Shelby County line
The project would sit directly west of the Marion County-Shelby County line, across Carroll Road from a new, 850,000-square-foot warehouse for discount retailer Five Below.
EPA to limit toxic ‘forever chemicals’ in drinking water
The plan marks the first time the EPA has proposed regulating the toxic group of compounds, which are widespread, dangerous and expensive to remove from water.
Facebook parent Meta slashing another 10,000 jobs
Meta previously announced 11,000 job cuts in November, about 13% of its workforce at the time.
Local software startup Elate lands $4.9M VC investment
Indianapolis-based Elate was founded in 2019 by two former coworkers at another local software firm, Springbuk. Elate offers a platform to help organizations develop and execute their strategic plans.
Wilshaw developer admits withholding info about SEC troubles
Town of Speedway officials and residents on Monday night learned a development firm involved in its long-delayed $36 million Wilshaw hotel project purposely withheld details of a settlement reached last year with federal securities regulators.
Government races to reassure U.S. that banking system is safe
In response to the crisis, regulators guaranteed all deposits at the two failed banks and created a program that effectively threw a lifeline to other banks to shield them from a run on deposits.
Illinois enacts mandatory paid leave ‘for any reason’
Proponents say paid leave is key to making sure vulnerable workers can take time off when needed without fear of reprisal. Critics say the law will overburden small businesses already struggling amid high inflation.
Fed’s battle plan for inflation shredded by financial turmoil
The worry is the collapse of SVB and Signature Bank are just the start of a longer list of casualties from the Fed’s shift to the highest rates since policymakers began slashing borrowing costs in 2007.
Fishers startup lands another $1.25M to help launch anti-clotting device
Recovery Force Health said it plans to use the new funding as growth capital to market its device to hospitals and introduce other products.
Mark Zuckerberg was warned about social media addiction, filing shows
Employees at Facebook parent Meta Platforms and TikTok developer ByteDance were aware of the harmful effects of their platforms on young children and teenagers but disregarded the information or in some cases sought to undermine it, court filings show.
Biden tells U.S. to have confidence in banks after two collapse
President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.
Indiana’s unemployment rate unchanged in January
Indiana saw gains in the construction; leisure and hospitality; private educational and health services; trade, transportation and utilities; and professional and business service sectors.
Fishers-based gene therapy firm Genezen appoints new CEO
Steven J. Favaloro brings a background in finance in the life sciences industry to his new positions as president and CEO.
Crazy King Burrito planning to open 3 restaurants in Hamilton County
Indiana’s first Crazy King Burrito location is expected to open June 1 in Carmel. Other suburban locations for the fast-casual restaurant are in the works.
Speedway’s Wilshaw project facing more delays after developer fails to disclose SEC trouble
Town of Speedway leaders are pumping the brakes on a proposed $2.5 million loan to help pay for the long-delayed Wilshaw hotel project after learning that one of the companies involved wasn’t forthcoming about federal fines for past business dealings.
IBJ Podcast: Pete The Planner on the new rules for saving
Late last year, Congress passed a significant revision to the rules for retirement plans with the intent of extending and expanding your saving opportunities.
Indianapolis mayoral candidates clash in first forum
Seven candidates for Indianapolis mayor discussed their policy plans in a candidate forum Sunday, but expected Democratic front-runners Mayor Joe Hogsett and State Rep. Robin Shackleford were no-shows.
U.S. government moves to stop potential banking crisis
In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed and was being seized on Sunday.