U.S. consumer spending experiences $7.2 billion monthly drop
Consumer borrowing is closely followed for signals it can send about households’ willingness to take on more debt to support their spending, which accounts for 70% of economic activity.
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Lilly bracing for global demand for its experimental antibody for COVID-19
Shares of Lilly jumped 3.7%, or $5.41, to $149.54 in afternoon trading following the company’s morning announcement that it has asked the U.S. government to allow emergency use of the therapy to treat the disease.
Pence-Harris debate to unfold as Trump recovers from virus
Vice President Mike Pence and his Democratic challenger, California Sen. Kamala Harris, are set to face off Wednesday night in a debate that will offer starkly different visions for a country confronting escalating crises.
MWI Animal Health moving from Whitestown to Zionsville, adding 51 employees
The Idaho-based veterinary and agricultural animal health products supplier plans to spend $5.8 million to expand its local operations.
Ruby Tuesday files for bankruptcy, closes 185 more restaurants
Indianapolis is down to just one Ruby Tuesday’s location. The chain now operates 236 dining rooms in total, a decrease from more than 500 three years ago.
Indiana sees 1,302 more COVID-19 cases, 17 additional deaths
The Indiana State Department of Health on Tuesday said the state’s cumulative total of confirmed deaths from COVID-19 has risen to to 3,500.
U.S. court denies bid to force expanded Indiana mail-in voting
In a separate case, a judge temporarily stayed, pending appeal, an order blocking an Indiana law that requires absentee ballots be received by noon to be counted.
Rahal Letterman Lanigan Racing plans $20M Zionsville HQ
The project will allow RLL to moves its its IndyCar operations in Brownsburg and its International Motor Sports Association operations in Hilliard, Ohio, to one 13-acre site in Zionsville’s Creekside Corporate Park.
Lilly seeks emergency use of its antibody drug for COVID-19
Eli Lilly and Co. says it has asked the U.S. government to allow emergency use of an experimental antibody therapy based on positive early results from a study.
Newfields announces major new immersive art exhibition
The Indianapolis Museum of Art at Newfields on Wednesday announced the largest exhibit in its history. It is expected to occupy the museum’s entire fourth floor starting in June 2021.
House investigation faults big tech firms for engaging in anti-competitive tactics
The House investigation of Amazon, Apple, Facebook and Google stopped short of calling for a breakup of any of the companies. Instead, it proposed the most sweeping overhaul of U.S. antitrust law in decades.
UPDATE: Trump halts COVID-19 relief talks until after election
Hours later, President Trump appeared to edge back a bit from his call to end negotiations. He took to Twitter again and called on Congress to send him a “Stand Alone Bill for Stimulus Checks ($1,200).”
McCormick criticizes Holcomb as she campaigns for his Democratic challenger
State Superintendent of Public Instruction Jennifer McCormick, a frequent critic of her fellow Republicans, took several swipes at Gov. Eric Holcomb in an online event Monday night for Dr. Woody Myers.
Indiana attorney general candidates split over virus powers
Attorney general candidates Todd Rokita and Jonathan Weinzapfel are divided over how the governor has used the state’s emergency powers law to impose a mask mandate and other coronavirus-related executive orders.
Proposal offers city employees early retirement ahead of expected 2022 revenue declines
Of the city-county’s workforce of about 7,000 employees, 724 are eligible for the early-retirement program.
Stocks reverse course after President Trump calls off stimulus talks
The Dow Jones industrial average dropped 375.88 points, or 1.3%, to 27,772.76. It had been up by more than 200 points before Trump’s announcement.
Survey: Companies to shrink offices as work stays remote
The poll, conducted for Cisco Systems by Dimensional Research, concluded that working from home is the “new normal.”
Marian University plans new engineering school with $24 million gift
The Indianapolis university said it was halfway to its $50 million fundraising goal for the school after a $24 million gift from the Witchger family and other donations.
Fed chief warns lack of further stimulus imperils recovery
The solid economic recovery under way could falter without continued financial support from the government, Fed Chair Jerome Powell said Tuesday.
Indiana reports another 30 deaths from COVID-19, 990 more cases
The Indiana State Department of Health on Tuesday said the cumulative positivity rate for unique individuals rose from 8.8% to 8.9% and the seven-day positivity rate for unique individuals rose from 8.5% to 8.8%.