U.S. consumers more confident as holiday shopping season peaks
Americans’ expectations of a recession in the next 12 months have declined to the lowest level so far this year.
Associated Press
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IRS to waive $1B in penalties for people, firms owing back taxes for 2020 or 2021
Nearly 5 million people, businesses and tax-exempt organizations—most making under $400,000 per year—will be eligible for the relief starting this week.
Retailers improving delivery speeds, meaning good news for late holiday shoppers
Walmart, Target and Amazon are all-in on the shipping wars, a move retail experts say will help them maintain a competitive edge against low-cost Chinese retailers Shein and Temu.
Google to pay $700M to U.S. states, consumers in app store settlement
Although Google struck the deal with state attorneys general in September, the settlement’s terms weren’t revealed until late Monday.
Biden administration says environmental enforcement on the upswing
The EPA opened nearly 200 criminal investigations this year, a 70% increase over 2022, the agency said in a report. It completed nearly 1,800 civil settlements, a 9% increase over 2022.
Southwest Airlines reaches $140M settlement over holiday meltdown last year
The airline will pay a $35 million fine as part of a $140 million settlement to resolve a federal investigation into a debacle in December 2022 when the airline canceled thousands of flights.
Penn State close to hiring former IU coach Tom Allen as defensive coordinator, sources say
Penn State coach James Franklin is looking for a replacement for Manny Diaz, who spent the last two seasons as defensive coordinator before leaving earlier this month to become head coach at Duke.
US Steel to be acquired for more than $14B by Nippon Steel
U.S. Steel founded the city of Gary with its Gary Works operation that at one time employed some 30,000 people. The steelmaker also operates the Midwest Plant in Portage. Nippon has subsidiary operations in the Indiana cities of Seymour, South Bend and Shelbyville.
Federal Reserve on cusp of what some thought impossible: Defeating inflation without steep recession
The economy keeps growing, defying widespread fears from a year ago that 2023 would bring a recession, a consequence of the much higher borrowing rates the Fed engineered.
Families say autism therapy helped their kids, but Indiana’s Medicaid cuts could put it out of reach
Providers of the therapy say the new rates are not enough to keep them running and are far below the previous statewide average of $97 per hour.
Indianapolis police chief to step down at year’s end for another role in department
Indianapolis Police Chief Randal Taylor said Friday that he had planned to serve as chief for two more years, but that after reflecting on the toll the job has taken, he didn’t think he could last that long.
Retail sales rose 0.3% in November as Americans hit gas on spending
The strong retail numbers Thursday were particularly surprising given some of the news coming from major retailers themselves, who say shoppers are being more selective.
Indiana basketball legend George McGinnis dies at 73
McGinnis’ rose from Indianapolis prep star into an unstoppable force in his one and only college season at Indiana University before eventually taking the Indiana Pacers to two ABA titles.
Federal Reserve keeps key interest rate unchanged, foresees three rate cuts next year
The Fed’s quarterly economic projections showed that its officials envision a “soft landing” for the economy, in which inflation would continue its decline toward the central bank’s 2% target without causing a steep downturn.
Cignetti hoping for smooth transition to IU after hiring seven assistant coaches from prior staff
New Indiana University head football coach Curt Cignetti has a plan to make a smooth transition into his new job—hiring all of his coordinators from his previous staff at James Madison University.
House approves impeachment inquiry into President Biden
Authorizing the monthslong inquiry ensures that the impeachment investigation extends well into 2024, when President Joe Biden will be running for reelection.
Small businesses face new regulations in 2024
Regulations are created to improve business dealings, discourage unfair or illegal business activity, and protect workers. But, for small business owners, they often mean more red tape, higher costs and possible penalties for failing to comply.
Wholesale inflation slowed last month, signaling that price pressures continue to ease
Wednesday’s report reinforced the belief that inflation pressures are cooling across the economy.
Tesla recalls nearly all vehicles sold in U.S. to fix Autopilot monitoring system
The recall of more than 2 million vehicles comes after a two-year investigation by the National Highway Traffic Safety Administration into a series of crashes that happened while the Autopilot partially automated driving system was in use. Some were deadly.
Fed might shed light on prospects for rate cuts in 2024
When its latest policy meeting ends Wednesday, the Federal Reserve is likely to provide some highly anticipated hints about the extent of rate cuts next year.