Powell pledges flexible rate policy, won’t quit if Trump asks him
Federal Reserve Chairman Jerome Powell said the central bank can be patient as it assesses risks to a U.S. economy and will adjust policy quickly if needed.
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In one of biggest pharma deals ever, Bristol-Myers Squibb to buy biotech firm for $74B
Bristol-Myers and Celgene combined will have nine products with more than $1 billion in annual sales and significant potential for growth in the core disease areas of oncology, immunology and cardiovascular disease.
Big pharma stocks among top performers in 2018
Pharmaceutical giants Merck & Co. and Pfizer Inc. were kings of the Dow Jones industrial index during the year, while Eli Lilly and Co. was among the 20 largest gainers on the S&P 500.
Year in notable deaths includes Bush, Allen, Spade, Hulman George
Former U.S. President George H.W. Bush, Fiat Chrysler chief executive Sergio Marchionne and Microsoft co-founder Paul Allen were among newsmakers in government, business and finance who died in 2018.
American chain restaurants facing tougher conditions in 2019
After facing stagnant sales and weak customer traffic in 2018, many U.S. restaurant chains will encounter more headwinds next year, including rising food and wage costs.
‘Completely bizarre’ stock moves leave traders scratching heads
The S&P 500 index posted its biggest single-session upward reversal since 2010 on Thursday, a day after the gauge capped its largest single-day advance since 2009.
Amazon has record holiday amid spending splurge by consumers
Consumers seemed to be merry this year despite a stock market that has tumbled, a government shutdown that is entering its fifth day and ongoing trade tensions with China.
Trump rips Fed as economy’s ‘only’ problem; doesn’t mention Powell
President Donald Trump renewed his attacks on the Federal Reserve, commenting publicly on the central bank for the first time following last week’s interest-rate hike and reports he has discussed firing Chairman Jerome Powell.
Pier 1 sinks as it evaluates strategic alternatives, ousts chief
Pier 1, which has five stores in the Indianapolis area, unveiled an ambitious turnaround plan in April, but the retailer saw its sales slump deepen last quarter as it entered the critical holiday shopping period.
FedEx shares plunge as gloomier forecast sows doubts on economy
The courier has cut its financial outlook just three months after raising it, reflecting an abrupt change in FedEx’s view of the global economy.
FedEx to offer buyouts to U.S. employees as part of cost-cutting plans
The Memphis, Tennessee-based company did not say how many positions it wants to eliminate or from what locations. But its Indianapolis International Airport hub is part of the Express division that will be targeted for the buyouts.
Anthem among health care stocks suffering after Obamacare ruling
While many analysts expect the ruling to be reversed by higher courts, the news adds to volatility in a sector that had barely recovered from political static this year.
Obamacare thrown out by judge, raising insurance uncertainty
The decision Friday finding the Affordable Care Act unconstitutional comes just before the end of a six-week open enrollment period for the program in 2019.
Johnson & Johnson’s shares plunge on report of asbestos in baby powder
Analysts estimate that the company could be on the hook for as much as $10 billion to $20 billion in settlements from an estimated 11,000 pending talc cases.
U.S. farmers see China’s return to soybean market as ‘drop in the bucket’
China’s return to the U.S. soybean market this week comes too little, too late for many farming families to put more Christmas presents under the tree this year.
Apple to build $1 billion campus in Austin, expand in other cities
The Texas capital, which already has more than 6,000 Apple employees, is slated to get at least 5,000 more. Three other cities will get more than 1,000 jobs each.
Six arrested in 2011 killing of former Indianapolis banker
Federal authorities announced Wednesday that they have solved the high-profile orchestrated killing of a former Indiana banking executive who was shot to death more than seven years ago while driving home from work.
Trump considering Pence aide to run Fannie Mae/Freddie Mac
Vice President Mike Pence’s chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
U.S. job vacancies rise, exceed unemployed by 1 million
The number of openings is the second-highest on record, reinforcing the view that the trend of employment is strong.
Sears’ biggest shareholder bids $4.6B for rest of bankrupt chain
Eddie Lampert took his first step toward rescuing Sears Holdings Corp. from bankruptcy with a $4.6 billion bid that would keep hundreds of stores open and preserve about 50,000 jobs.