Lilly to test obesity drugs for addiction treatment, CEO says
Lilly also approved a program to buy back as much as $15 billion of its own shares amid rapid growth fueled by Zepbound and Mounjaro.
Bloomberg News and IBJ Staff
Articles
Buca di Beppo files for bankruptcy, closes Indianapolis restaurant
Italian restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy on Monday, days after closing 13 underperforming eateries nationally, including one of its three local locations.
Hack targeting hospital chain Ascension affecting patient care
The 840-bed Ascension St. Vincent Hospital in Indianapolis is among the facilities feeling the effects of the cyberattack.
Andretti special purpose acquisition company to merge with Boston-based AI startup
Andretti Acquisition Corp., a blank-check company that was formed last year, announced Wednesday that it plans to merge with Boston-based startup Zapata AI.
Report: Simon Property, Brookfield offer to buy Kohl’s for more than $8.6B
Indianapolis-based Simon and Brookfield, which together bought rival department-store chain J.C. Penney Co. out of bankruptcy, have offered $68 a share for Kohl’s, according to people with knowledge of the talks.
U.S. hotels face $21B business-travel shortfall in 2022
Indianapolis is predicted to fare better than many other markets, but is still expected to see a decline in hotel business travel revenue of 16.4%.
Disney to shut 60 North American stores, 20% of global total
Indiana has two Disney Store locations—one in Indianapolis at Castleton Square Mall and one in Merrillville.
Steak n Shake reportedly retires $153M in debt, averting possible bankruptcy
Steak n Shake was preparing for a potential Chapter 11 filing earlier this month while the company negotiated with holders of the debt, Bloomberg had reported.
Huntington Bancshares to acquire TCF Financial in $6B deal
The merger announced Monday will boost Columbus, Ohio-based Huntington’s assets to about $168 billion, nudging it closer to regional competitors Fifth Third Bancorp and KeyCorp.
Jobless claims drop more than expected nationally, but rise in Indiana
Texas, Michigan and Georgia. Illinois, Oregon and Indiana reported the largest increases in filings during the holiday week.
CVS prepares to administer Lilly antibody drug, as feds buy 650,000 more doses for $812.5M
CVS has developed a program to provide the treatments in their homes, but it won’t be available—at least initially—in Indianapolis.
Guitar Center declares bankruptcy, seeks to restructure
Guitar Center, based Westlake Village, California, has about 300 stores across the United States, including two in the Indianapolis area. It also has local warehouse operations.
National unemployment claims fall more than expected
Indiana also experienced a weekly decrease in initial jobless claims, according to Labor Department data released Thursday.
Initial unemployment claims decline nationally, in Indiana
Fewer Americans than expected sought unemployment benefits last week. The latest claims numbers reflect gradual labor-market improvement but remain well above pre-virus levels.
Simon, Brookfield reach deal with lenders to acquire bankrupt J.C. Penney
The tentative rescue deal, which would preserve about 70,000 jobs, includes a $300 million equity investment by landlords Simon Property Group and Brookfield Property Partners, a lawyer for J.C. Penney said at a Wednesday bankruptcy hearing in Texas.
J.C. Penney lenders plan takeover after talks with Simon, other bidders stall
J.C. Penney filed for bankruptcy May 15, part of a wave of already-struggling merchants undone by the pandemic. Simon Property, Brookfield Property Partners and Authentic Brands Group were in talks to buy the retailer.
Coronavirus infections far exceed reported cases, CDC estimates
The agency conducted a survey looking at antibodies to the virus in 10 U.S. regions, including Indiana. It found prevalence was highly variable from one region to the next, but far higher than the reported number of cases across the board.
Roche’s COVID-19 antibody test gets emergency FDA approval
Roche Diagnostics’ North American headquarters in Indianapolis will be the shipping and distribution hub for all tests distributed in the United States, the company said.
Roche begins shipping emergency-approved COVID-19 tests across country
Indianapolis-based Roche Diagnostics said Monday that it has begun shipping an initial order of 400,000 COVID-19 test kits to a network of more than 30 hospital and laboratories.
Simon, other new Forever 21 owners in talks to keep most U.S. stores open
Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners LP have finalized their $81 million acquisition of the struggling retailer, they announced Wednesday.