Key inflation gauge jumped 6.6% in March, most since 1982
Yet, there were signs in Friday’s report from the Commerce Department that inflation might be slowing from its galloping pace and perhaps nearing a peak, at least for now.
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Lilly CEO has leaders talking about whether state is doing enough to grow Indiana
David Ricks’ lunchtime speech to The Economic Club of Indiana—repeated on social media by those in attendance and reported by IBJ and local TV stations—has reverberated across the state.
Top Democrats push for federal crackdown on high gas prices
Citing growing worries about high gasoline prices, Democratic leaders announced an effort Thursday to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.
Amazon reports rare quarterly loss as online shopping slows
Amazon prospered during the COVID-19 pandemic as homebound people eager to limit human contact turned online to purchase what they need. But growth has slowed as vaccinated Americans feel more comfortable going out.
Crypto industry would get its preferred regulator under new bill
A new bipartisan proposal would give the rapidly-expanding sector a victory by handing authority to the Commodity Futures Trading Commission, seen by the industry as a more benevolent regulator.
Biden taking ‘hard look’ at student loan forgiveness
White House press secretary Jen Psaki said Thursday that President Joe Biden was still considering whether to tie debt relief to borrowers’ income levels, an idea he’s floated in the past. She said it’s “certainly something he would be looking at.”
IPS principal Hunley touts education experience in state Senate run
Andrea Hunley, 38, is hoping to beat out four opponents in the Democratic primary to win a chance to represent a newly-created Indianapolis district covering the attendance area of her current and former schools.
Most Americans could file their taxes for free, but don’t
The GAO report, issued Thursday, found that while 70% of taxpayers were eligible for the Internal Revenue Service’s free-filing program, only 3% of taxpayers actually use the service.
Elon Musk spoke of possible Twitter job cuts with bankers
Musk also brought up several ideas to boost revenue for the company, such as paying “influencers” to create content, following a business model that helped make TikTok a powerhouse social media app.
The Speak Easy names new executive director
As the organization’s first Black and openly LGBTQ+ leader, Wright and his years of ecosystem-building experience are expected to help in his efforts to eliminate barriers for new entrepreneurs, The Speak Easy said.
AG Rokita sues Black Lives Matter, accuses group of not handing over financial documents
Indiana Attorney General Todd Rokita’s office said the lawsuit is part of an investigation launched in February into how the organization was using donations from Hoosiers.
FDA issues plan to ban menthol in cigarettes, cigars
The Food and Drug Administration said eliminating menthol cigarettes could prevent between 300,000 and 650,000 smoking deaths over 40 years.
New deal to help USA Track & Field simplify abuse reporting
The Indianapolis-based organization has signed on to use technology that will give athletes and members an additional method to anonymously report sexual abuse and other forms of misconduct.
Yellen says more shocks likely to ‘challenge the economy’
Treasury Secretary Janet Yellen said Thursday in an address at the Brookings Institution that countries need to build in “recession remedies” to protect people in the U.S. and globally going forward.
U.S. economy shrank by 1.4% in first quarter, but consumers kept spending
The economy’s overall decline in the January-March quarter does not mean a recession is likely in the coming months. Most economists expect a rebound this quarter as solid hiring and wage gains sustain growth.
Community Health starts ‘fully integrated cancer program’ with MD Anderson
Community Health Network said the new arrangement with the largest cancer center in the United States will give Hoosiers access to some of the most advanced cancer treatments in the nation.
Zionsville coworking center zWorks consolidating into one building
A smart-home automation business is set to take over one of zWorks’ buildings after the coworking center consolidates into one location.
Lilly profit soars 40% in first quarter
Eli Lilly and Co. posted profit of $1.9 billion in the first quarter, up 40%, on higher sales of COVID-19 antibodies and other key products for diabetes, cancer and arthritis.
Moderna seeks to be first with COVID shots for littlest children
Moderna on Thursday asked U.S. regulators to authorize low doses of its COVID-19 vaccine for children younger than 6, a long-awaited move toward potentially opening shots for millions of tots by summer.
Lilly says experimental drug helped patients lose up to 22% of body weight
The drug, called tirzepatide, has been closely watched by medical professionals and is viewed by financial analysts as possible blockbuster, with potential annual sales in the billions of dollars.