Costco sues Trump administration over tariffs, seeks full refund
Costco joins dozens of other companies including motorcycle manufacturer Kawasaki and canned foods maker Bumble Bee that have filed suits seeking tariff refunds.
International Business
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Mark Cuban to headline Global Entrepreneurship Congress in Indianapolis
A program of the Global Entrepreneurship Network, the event is an annual convening of business and investment leaders from around the world.
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Simon purchases Italian outlet malls from Gucci’s parent company
Indianapolis-based Simon is the new owner of two Italian luxury outlet malls where the roster of shops includes Armani, Balenciaga, Gucci and Versace.
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Bill to create Indiana-Ireland trade commission advanced by House committee
Through House Bill 1489, the state would establish a trade commission with Ireland to strengthen its business relationship with the country and exchange ideas on policy, economic development and infrastructure.
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Manufacturers weigh potential impact of Trump tariffs promise
Incoming President Donald Trump’s pledge to impose tariffs on goods from Canada and Mexico has caught the attention of Indiana companies, which stand to experience a significant impact if new or expanded tariffs are imposed.
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Articles
UK and US agree zero-tariff deal on pharmaceuticals
The Trump administration said that in return, U.K. drugs firms committed to invest more in the U.S. and create more jobs.
Foreign enrollment at US colleges holds steady overall
Some universities are seeing backslides that have punched big holes in tuition revenue, but overall the falloff is less severe than some industry groups had forecast.
Congressional report cites Purdue in push for tighter limits on Chinese students
A congressional report uses Purdue University as a case study to argue for tighter limits on Chinese students and academic partnerships, even as it praises the school’s research security policies.
NFL teams flock to Berlin as league eyes more games in Germany
Berlin will be the third German city to host a regular-season game when the Indianapolis Colts and Atlanta Falcons square off Sunday at Olympiastadion.
Eli Lilly to build $3B manufacturing site in Netherlands
The facility is expected to produce oral medications, including Lilly’s highly anticipated GLP-1 pill for weight loss, orforglipron.
American farmers welcome China’s promise to buy soybeans, but the deal doesn’t solve everything
The Chinese promise to buy at least 25 million metric tons of soybeans annually for next three years will bring their purchases back in line with where they were before President Donald Trump launched his trade war with China in the spring.
Trump cuts tariffs on China after meeting Xi in South Korea
President Donald Trump described his face-to-face meeting with Chinese leader Xi Jinping on Thursday as a roaring success.
White House says deal to put TikTok under US ownership could be finalized Thursday
If it happens, the deal would mark the end of months of uncertainty about the fate of the popular video-sharing platform in the United States.
Customs office planned at Indianapolis Executive Airport in Zionsville
Having a U.S. Customs and Border Protection office would allow international flights to land at the airport, which has a 7,001-foot runway and is the fifth-busiest non-towered general aviation airport for business traffic in the United States.
US, China say trade deal drawing closer as Trump, Xi prepare for high-stakes meeting
China’s top trade negotiator told reporters the two sides had reached a “preliminary consensus,” while Trump’s treasury secretary said there was “a very successful framework.”
US inflation stays elevated but prices rose less than feared last month
The data for Friday’s report was gathered before Oct. 1, but price data for October isn’t being gathered due to the government shutdown, and the Trump administration suggested Friday that an inflation report won’t be released next month.
Pump prices could rise after US, EU hit Russian oil companies with new sanctions and oil spikes
Patrick De Haan, head of petroleum analysis for GasBuddy, said while it was difficult to predict with certainty, consumers could see a bump in prices as early as next week, if not sooner.
Hoosier ag leaders caution against Trump’s proposal to import beef from Argentina
Voices across Indiana’s beef cattle industry raised concerns including an existing trade deficit between the U.S. and Argentina, disruptions in the market and the quality of the imported beef.
Lilly partners with Indian company to sell blockbuster weight-loss drug under new name
Per the agreement, the Indianapolis-based drugmaker will continue to manufacture the drug, which India-based Cipla will sell under a new brand name.
Pharmaceutical, life science industries drive trade surge between Indiana and Portugal
Indiana’s growing partnership with Portugal includes imports like rubber, plastics and chemicals, the latter of which is driven largely by pharmaceuticals, according to a Portuguese trade representative.
US, Australia sign $8.5B critical-minerals agreement as a way to counter China
Earlier this month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials.
How China weaponized soybeans to squeeze US farmers—and spite Trump
President Donald Trump on social media called China’s decision to not buy soybeans “an Economically Hostile Act” amid its trade war with the U.S.
Chamber of Commerce sues Trump to block $100,000 fee for H-1B visas
The chamber’s lawsuit is not the first against the new visa fee, but it’s significant because it marks the first by the chamber, one of the most powerful and largest business groups in Washington.
Nestlé to cut 16K jobs globally as part of an intensifying cost-cutting campaign
Workers at Nestlé’s Anderson, Indiana, plant make and distribute Coffee mate’s traditional creamers, as well as the Natural Bliss line.