Musk lines up $7.1B in investor financing for Twitter bid
The infusion adds heft to the Tesla chief’s offer and eases some of the financial pressure he’s taken on in pursuit of the social media platform.
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Indianapolis-based Calumet gets new CEO as part of leadership reshuffling
Todd Borgmann, Calumet’s former CFO, was promoted to CEO effective this week. The move, and several other executive-level changes, were triggered by the May 1 retirement of board chairman Fred Fehsenfeld.
Renovation to breathe new life into historic downtown Fishers buildings
A pair of historic buildings along 116th Street near Nickel Plate Station are being saved, but that won’t be the case for two other old buildings in the same block that were determined to be “beyond repair.”
Deer Creek founders reunite to launch Labor Day weekend music festival
Performers have yet to be announced for the All IN Music & Arts Festival, scheduled Sept. 3-4 at the Indiana State Fairgrounds.
Indiana voters pass most local tax increases for school salaries, operations
All six of the operating referendums on the ballot passed, giving schools around the state additional tax revenue to fund programs, transportation, and salaries. But construction referendums—whose funds are earmarked for specific building or renovation projects—fared worse.
FAA offers help for snarled Florida summer air travel
Air traffic to Florida picked up more quickly during the pandemic than many other places, and airlines have scheduled even more flights for this summer. That is raising concern about the potential for massive disruptions that could ripple far beyond the state’s borders.
Caesars starts work on $39M expansion of Anderson casino
The expansion will add 30,000 square feet to the gambling floor and 100 jobs at the venue, plus additional slot machines and table games.
U.S. plastics recycling rate slumps below 6%, analysis finds
Though plastics use fell in the early days of the pandemic, consumption has rebounded along with economic activity. Meanwhile, plastic waste exports have plummeted in the wake of import bans by countries such as China and Turkey.
Here’s how higher Fed rates stand to affect Americans’ finances
Economists and investors foresee the fastest pace of Federal Reserve rate increases since 1989. The result could be much higher borrowing costs for households well into the future.
UPDATE: Indiana House District 32 GOP candidates wait for results in race separated by six votes
Fred Glynn and Suzie Jaworowski remain in an ultra-tight battle with 98.8% of the vote counted. An issue at a voting center in Marion County has delayed the final count.
Fed raises key rate by half-point in bid to tame inflation
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday—its most aggressive move since 2000—and signaling further large rate hikes to come.
The Bail Project sues state over constitutionality of law limiting charitable bailouts
Filed Wednesday by The Bail Project and the American Civil Liberties Union of Indiana, the lawsuit alleges a new Indiana law restricting whom it can bail out of jail infringes on its constitutional rights.
Distribution company plans 100 jobs at new Lebanon facility
New York City-based PCA Group’s clients include beauty brands such as Rebecca Minkoff, Derek Lam, Monique Lhuillier, Rachel Zoe, and FILA.
KAR’s $2.2B ADESA sale expected to close within days
The sale of ADESA to Arizona-based Carvana, which KAR announced in February, is part of KAR’s ongoing shift away from physical auto auctions toward digital platforms and tools.
Developer planning $40 million in apartment projects near Southport
The plan by Homestead Development consists of two components. The first would be a single apartment building for individuals age 55 or older. The other would be an eight-building complex containing market-rate apartments.
Intuit to pay $141M settlement over TurboTax ads touting free tax filing
Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.
ELECTION BLOG: District 32 race too close to call | Hunley, Houchin win; Rep. John Young defeated
A five-way battle for the Democratic nomination for a new state Senate seat in Indianapolis drew some voters to the polls.
AT&T raises prices on wireless plans to address higher costs
The price hike will test whether carriers can join other industries like food and energy in passing on higher costs. The plan could backfire if disgruntled AT&T customers defect to Verizon and T-Mobile.
Indy Democratic Party chair headed toward win in clerk’s race, signaling change in party leadership
Marion County Democratic Party Chair Kate Sweeney Bell was headed toward victory Tuesday night in the primary race for county clerk, leading her non-slated primary opponent, former state Sen. Billie Breaux. Bell has said she would step down as party chair if she won.
Crowds protest across country after news of leaked draft Roe opinion
In Indianapolis, protesters and counter-protestors gathered outside the U.S. District Court of Southern Indiana at 46 E. Ohio St. on Tuesday evening.