Tom Linebarger to step down as Cummins CEO, remain chairman
Linebarger will be replaced by Cummins President and Chief Operating Officer Jennifer Rumsey, who has been with Cummins for 22 years, including the last 16 months as COO.
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Analysis: Recession risks rise as Fed faces daunting task
The latest inflation reading was supposed to offer hope that the U.S. economy had weathered the worst of the storm. But there was nothing reassuring in Wednesday’s report.
Summer travel is boosting airlines’ bottom lines as ticket prices rise
Strong demand for travel is giving U.S. airlines a financial boost as the industry battles through reduced flight schedules, higher fuel and labor costs, and concerns about the effects inflation could have on consumer spending, airlines officials said this week.
Panasonic picks Kansas for $4B, 4,000-employee battery mega-factory
The company and Gov. Laura Kelly announced the new project Wednesday, just hours after Kelly and eight top leaders of the Kansas Legislature signed off on a package of incentives worth $829 million over 10 years.
U.S. regulators approve new COVID-19 vaccine option
Novavax makes a more traditional type of shot than the three other COVID-19 vaccines available for use in the U.S.—and one that’s already available in Europe and multiple other countries.
Hope for depositors dwindles as crypto lender Celsius files for bankruptcy
For several years, Celsius was a crypto golden child under co-founder Alex Mashinsky, offering more than 20 percent yields under what he and other executives said was a disruptive plan that avoided the fees and greed of traditional banks.
More than $2.5M awarded to Indiana legal aid providers
Legal aid providers around the state that offer civil legal assistance to low-income Hoosiers have received a financial boost totaling more than $2.5 million from the Indiana Bar Foundation.
Boone County looks to create PUD ordinance in area planned for high-tech district
The county commissioners believe a planned unit development is the best way to protect the interests of Boone County residents, particularly those who live in unincorporated areas of the county.
Indiana students improve on tests, trail pre-pandemic marks
Indiana students had small improvements in their English and math scores, with standardized test results released Wednesday indicating a tentative bright spot following years of pandemic-disrupted learning.
Fischer Homes proposing to build 75 townhouses in Westfield
The high-end townhouses would be constructed on 11 acres of land at the Westfield Yard Planned Unit Development District near State Road 32 and Gray Road.
Vote on Spirit, Frontier merger is postponed, again
At issue is a competing bid for Spirit from another budget airline, JetBlue, which is offering about $1 billion more for Spirit.
Fed could weigh historic 100 basis-point hike after inflation scorcher
Investors upped bets the central bank could make a one percentage-point rate hike at its July 26-27 meeting—which would be the largest increase of the modern Federal Reserve era.
U.S. inflation reached 40-year high of 9.1% in June
Rising costs have seeped into nearly every corner of the economy, with grocery prices jumping 12.2% compared with a year ago. Rents have risen 5.8% and new car prices have increased 11.4%.
Former grocery exec to lead Indiana Department of Labor
David Redden served in numerous executive roles for former grocery chain Marsh Supermarkets for almost 20 years.
There’s no U.S. recession until an obscure panel of ‘eggheads’ says it is so
While many countries define an economic downturn as two consecutive quarters of negative growth for gross domestic product, the U.S. defers this assessment to elite academics at the National Bureau of Economic Research.
IndyCar champ Alex Palou says he’s leaving Ganassi for McLaren
Shortly after Chip Ganassi Racing announced Tuesday it would exercise a team option to keep the star Spaniard next season, Palou and Arrow McLaren SP said they had agreed to a deal for 2023.
Council receives pushback over charitable food distribution proposals
A City-County Council proposal regulating charitable food donations sparked controversy Monday night, leading the group to delay the public hearing.
Area existing-home sales beginning to slow, but prices still rising
The active inventory of for-sale homes rose 47% from the previous month in central Indiana. Higher inventories could help bring down prices in coming months.
Indiana governor walks back comment on abortion bill
Indiana Gov. Eric Holcomb on Tuesday took back his previous statement that he expects to sign whatever abortion-restricting bill comes across his desk, but he struggled to articulate where specifically he stands on the incoming legislation.
Twitter sues to force Musk to complete his $44B acquisition
In a fiery filing, Twitter accuses Musk of violating the merger agreement “because the deal he signed no longer serves his personal interests.”