UPDATE: Divided Federal Reserve cuts key rate for second time this year
The Federal Reserve cut its key benchmark interest rate while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion.
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Opioid deal may set price for drug industry settlements
Purdue Pharma may have just set the starting point for determining what it will cost dozens of pharmaceutical companies to resolve legal liability over their role in creating the U.S. opioid epidemic.
U.S. retail sales show solid increase as auto-buying jumps
Figures released Friday showed August retail sales advanced more than forecast, while consumer sentiment rebounded from an almost three-year low.
Indicators in U.S. jobs market warn of possible weakness ahead
Two key indicators—hiring for temporary-help positions and weekly working hours—have declined this year even as unemployment has remained near a half-century low.
Banks fire up mortgage machines for expected refinancing boom
The mortgage industry has added almost 5,000 employees since March. It’s a stark reversal from a year ago, when the Federal Reserve was hiking interest rates and banks were cutting thousands of jobs.
U.S., China plan to have ‘a talk’ on trade, Trump says
President Donald Trump’s comments followed signs from China that it wouldn’t immediately retaliate against the latest U.S. tariff increase and wanted to focus on removing new tariffs, to prevent a further escalation of the trade war.
Retailer Forever 21 prepares for potential bankruptcy filing
A bankruptcy filing would help the company shed unprofitable stores and recapitalize the business. The retailer has four Indianapolis-area stores.
U.S., Japan agree in principle on trade deal focused on farmers
The U.S. and Japan agreed in principle on a trade deal under which Japan will slash tariffs on U.S. beef, pork and other agricultural products while continuing to face levies on its own auto exports.
Trump orders biofuel boost in bid to temper farm state anger
Administration officials agreed to the broad contours of a renewable fuel plan, including further moves to encourage the use of E15 gasoline containing 15% ethanol, beyond the 10% variety common across the U.S.
Ethanol producer blames Indiana plant closure on EPA
The owner of a western Indiana ethanol plant is blaming its shutdown on the Trump administration’s decision to allow some refineries to not blend ethanol with gasoline as required under federal law.
Weak world demand, trade take their toll on U.S. factories
Bigger cracks are forming across America’s manufacturing foundation after lackluster global demand and persistent trade tensions led to the first contraction in U.S. factory activity since September 2009.
U.S. delays China tariffs on some holiday-shopping favorites
By granting a grace period for everyday items such as some phones and toys, the U.S. concession appears designed to avoid any disruption or additional price increases for American consumers heading into the final four months of the year—from back-to-school purchases to Christmas shopping.
FedEx to stop making ground deliveries for Amazon
The announcement Wednesday that FedEx would no longer make ground deliveries for Amazon comes two months after the delivery company said it was terminating its air delivery contract with Amazon.
Economic diversity index puts Pennsylvania first, Indiana next to last
Bloomberg analyzed the contribution to gross domestic product by industry and government in all 50 states to create the diversity index. Indiana’s GDP is most dependent on manufacturing and least dependent on government.
Brazil considers dropping barriers to U.S. ethanol
A biofuel deal between the two nations would come as a relief for the U.S. ethanol industry, which has been beset by a supply glut and the weakest margins in more than 15 years.
Fed trims rate by quarter point, signals potential for more cuts
The rate reduction was the first since December 2008, when the Fed dropped its benchmark effectively to zero as it battled recession and financial crisis.
Pfizer’s blockbuster deal with Myland expected to reshape drug industry
The new publicly traded company will have sales of about $19 billion to $20 billion in 2020, the drugmakers said in a statement.
Dan Coats resigning as director of national intelligence
As the head of the U.S. intelligence community, the 76-year-old Coats has been a rare cabinet official willing to break ranks with President Trump publicly. The imminent departure of the former Republican senator from Indiana has been talked about for several months.
Airports struggle with patchwork of biometric security systems
Reducing travel friction and increasing security are critical for the industry, which is expecting passenger growth from 4.6 billion this year to 8.2 billion in 2037.
U.S. economy slows, but exceeds expectations as consumer spending rises
The mixed report highlights how President Donald Trump—who’s repeatedly called for lower interest rates—is enjoying signs of a solid economy while his trade war with China weighs on the expansion and fuels uncertainty for global businesses.