U.S. adds robust 250,000 jobs; pay growth fastest since 2009
The last major economic data before Tuesday’s congressional elections also showed that the unemployment rate remained at a five-decade low of 3.7 percent.
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Eli Lilly partner urges investors to look beyond biotech turmoil
Look at the future prospects, not the losses, says the CEO of a newly listed Chinese biotech company that’s developing anti-cancer drugs with Indianapolis-based Eli Lilly and Co.
Obamacare markets stabilize, but premiums remain high for many
On average, the premium for typical plans in the 39 states that use the federal healthcare.gov website will drop 1.5 percent.
Indiana becomes epicenter of campaign battles over Trump trade policies
Tariffs are weighing heavily on the tossup U.S. Senate contest between Democratic incumbent Joe Donnelly and Republican Mike Braun.
U.S. apparel spending rises at fastest pace since 2005
Low unemployment, elevated consumer confidence and stronger household finances are encouraging shoppers to dip confidently into their cash.
Surprising jump in PC demand gives Intel bullish outlook
The company, whose processors are at the heart of most of the world’s laptops, desktops and servers, has been raking in cash this year as companies spend on upgrading their hardware.
With stock market in freefall, earnings mean almost nothing
A quarter of the way through earnings season and 10 months into what is sure to be the biggest year for profit growth this decade, the numbers are strong. The market doesn’t care.
NASDAQ suffers worst day since 2011 amid market rout
Major market indexes had a dismal day Wednesday, especially the tech-heavy NASDAQ.
Lids, other baseball cap sellers about to feel impact of tariffs
According to the American Headwear Alliance, which represents producers such Zionsville-based Lids and Massachusetts-based ’47 Brand, the vast majority of caps sold in the U.S. are imported from overseas.
Opioid alternative from Lilly, Pfizer shows promise in study
The experimental drug eased arthritis pain in hard-to-treat patients without major safety concerns, a key step in creating a new class of medications that may one day offer an alternative to narcotics.
Former online-only retailers setting up shops in malls near you
Stiffening competition, surging online advertising costs and cheap mall space have prompted web retailers like Warby Parker and Bonobos to open physical stores, including locations in Indianapolis.
Trump might announce middle class tax-cut plan days before crucial midterms
The president offered no details on the proposal, which would follow a landmark tax overhaul last year that Republicans had hoped would ensure they’d keep control of Congress after the midterms.
Novartis needs U.S. security nod for Endocyte under new rules
The Treasury pilot program implements broader powers Congress granted this year to the Committee on Foreign Investment in the U.S., a panel of officials who review foreign takeover of American firms and can recommend that the president block deals that threaten national security.
Endocyte acquisition gives Novartis key therapy—at almost 200 times its last price
One year ago, Indiana-based Endocyte Inc. bought the rights to a prostate cancer treatment for $12 million, plus future considerations. On Thursday, Novartis AG agreed to pay almost 200 times that amount to acquire Endocyte and the experimental therapy.
Investors most bearish on global economy since crash, survey says
Pessimism on the global economy is piling up amid rising trade tensions and expectations the U.S. central bank will carry on tightening despite the tumult in equity markets. Fund managers surveyed by Bank of America Merrill Lynch this month are hoarding cash as they become the most bearish on global activity in a decade, fretting […]
Simon to weather, maybe even benefit from Sears’ decline, analysts say
Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
Microsoft co-founder, sports, media owner Paul Allen dies at 65
Fellow billionaire and Microsoft co-founder Bill Gates said “personal computing would not have existed without” Paul Allen, who died as the world’s 27th richest person, with a fortune of $26.1 billion.
Lime, Bird seeking to capitalize on scooter-mania, sources say
Both Bird and Lime, which have entered dozens of markets this year, including Indianapolis, are seeking hundreds of millions of dollars in new capital, according to sources.
Sears files for bankruptcy just as things are looking up for retail
With shoppers feeling more free to spend and nicer shopping malls on the upswing, bankruptcy is a clear sign of individual weakness, not an industry trend.
Elanco shares lowest since IPO after failing to get consensus buy rating
Shares in Elanco Animal Health Inc. slipped as much as 3.3 percent Monday morning after lead managers and other banks involved in its recent initial public offering started coverage on the animal health company.