UPDATED: Judge puts Indiana abortion ban on hold; AG pledges to appeal
The ban was approved by the state’s Republican-dominated Legislature on Aug. 5 and signed by GOP Gov. Eric Holcomb. The ruling comes one week after it took effect.
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Thieves key on hack that leaves Hyundai, Kia cars vulnerable
An insurance industry group said some Hyundai and Kia cars and SUVs are stolen at nearly twice the rate of the rest of the auto industry because their keys lack computer chips for theft “immobilizer” systems.
Powell’s stark message: Inflation fight could cause recession
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
Man convicted of shooting 2 Indiana judges in downtown dispute
A jury convicted Brandon Kaiser of aggravated battery, multiple battery-related charges and carrying a handgun without a license. He is scheduled to be sentenced Oct. 21.
Indiana utility seeking 16.5% electric rate increase
Merrillville, Indiana-based Northern Indiana Public Service Co. asked the Indiana Utility Regulatory Commission this week to approve the rate increase over two years for its 470,000 customers across 32 northern Indiana counties.
Senate ratifies international climate deal on refrigerants
The agreement compels the United States and other countries to limit use of hydrofluorocarbons, highly potent greenhouse gases commonly used in refrigeration and air conditioning that are far more powerful than carbon dioxide.
Fed attacks inflation with another big hike and expects more
The Federal Reserve boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.
Bank CEOs warn of ‘daunting’ challenges from inflation
Democrats called JPMorgan Chase, Bank of America, Wells Fargo and Citigroup to Washington, D.C., to talk about pocketbook issues as households contend with the highest inflation since the early 1980’s and the midterm election looms just weeks away.
New York attorney general sues Donald Trump and his company for fraud
The lawsuit is the culmination of the Democrat’s three-year civil investigation of Trump and the Trump Organization. Trump’s three eldest children, Donald Jr., Ivanka and Eric Trump, were also named as defendants, along with two longtime company executives.
Walmart takes cautious approach to holiday hiring
Retailers face a slowdown in consumer spending as shoppers face surging costs in daily necessities including rent and food. A slew of retailers including Walmart, Best Buy and Stitch Fix have trimmed their staffing in recent weeks.
NTSB wants all new vehicles to check drivers for alcohol use
The National Transportation Safety Board is recommending that all new vehicles in the U.S. be equipped with blood alcohol monitoring systems that can stop an intoxicated person from driving.
FAA rejects request from Republic Airways to hire less-experienced pilots
Bryan Bedford, CEO of Indianapolis-based Republic, said he was disappointed but not surprised by the FAA’s decision. He said the agency didn’t give the airline’s request the review that it deserved.
‘Out of control’ STD situation prompts call for changes
Sharply rising cases of some sexually transmitted diseases—including a 26% rise in new syphilis infections reported last year—are prompting U.S. health officials to call for new prevention and treatment efforts.
Indiana judge weighing bid to block state’s new abortion ban
A judge heard arguments for about an hour in a Bloomington courtroom on a request from abortion clinic operators to block the Indiana abortion ban that went into effect on Thursday.
Federal Reserve likely to signal higher rate hikes ahead
Economists expect Fed officials to forecast that their key rate could go as high as 4% by the end of this year. They’re also likely to signal additional increases in 2023, perhaps to as high as roughly 4.5%.
Report: Some census takers who fudged data didn’t get fired
A report from an inspector general raises concerns about possible damage to the quality of the once-a-decade head count that determines political power and federal funding,
DOJ to use ‘carrot and stick’ approach on corporate crime
Faced with a decline in the number of corporate criminal prosecutions over the last decade, a top Justice Department official on Thursday unveiled new sweeteners for companies that cooperate with the government.
Treasury recommends exploring creation of digital dollar
The Biden administration is moving one step closer to developing a central bank digital currency, saying it would help reinforce the U.S. role as a leader in the world financial system.
Mortgage rates hit 6%, first time since 2008 housing crash
Rising interest rates—in part a result of the Federal Reserve’s aggressive push to tamp down inflation—have cooled off a housing market that has been hot for years.
FedEx to close 90-plus stores, put off hiring as demand slumps
The company warned it will likely miss Wall Street’s profit target for its fiscal first quarter that ended Aug. 31. And it said it expects business conditions to further weaken in the current quarter amid weaker global volume.