As many as 25,000 U.S. stores may close in 2020, mostly in malls
The number would shatter the record set in 2019, when more than 9,800 stores closed their doors for good, according to a report from retail and tech data firm Coresight Research.
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The great diamond glut: Miners stuck with gems worth billions
The pandemic has devastated the diamond world. Jewelry stores closed their doors, India’s cutting and polishing artisans were forced to stay home and De Beers had to cancel its March sale because buyers couldn’t travel to view the merchandise.
Indiana reports increase of 410 coronavirus cases, 23 more deaths
The Indiana State Department of Health on Tuesday said 315,390 people have been tested so far, up from 309,503 in Monday’s report—an increase of 5,887.
ACLU calls on Hogsett to reduce funding for police in Indianapolis
Taking a cue from the “Defund the Police” movement, the American Civil Liberties Union of Indiana is calling on Mayor Joe Hogsett to “reimagine” the role of police in Indianapolis and shift funding away from law enforcement into community-based initiatives.
Chicago loses massive trade show to coronavirus pandemic
More than 129,000 people had signed up to attend the International Manufacturing Technology Show, making it the largest convention scheduled for the city this year.
Union 525 investors plan 160-unit downtown apartment project, parking garage
The investor group behind Union 525 is proposing another expansion to the tech incubator’s downtown Indianapolis corporate campus, this time with plans to construct a nine-story apartment building and a 700-space parking garage on an nearby lot.
Westfield council denies Shamrock Apartments proposal as last-minute agenda item
An $18 million apartment-and-retail project proposed near U.S. 31 and Main Street was turned down Monday night after Westfield City Council members debated whether a petition for the project should even be considered.
Indy Council passes resolution declaring racism a public health crisis
The council on Monday night also approved the mayor’s plan to to immediately deploy nearly half of the $168 million it has received in federal coronavirus relief funds to help residents and businesses that have been affected by the pandemic.
Democrats pledge to transform law enforcement through Justice in Policing Act
The act would ban chokeholds, establish a national database to track police misconduct, prohibit some no-knock warrants and enact other initiatives. The bill contains several provisions that would make it easier to hold officers accountable for misconduct in civil and criminal court.
Federal Reserve acts to broaden appeal of Main Street Lending Program
The Federal Reserve is expanding the range of companies that will qualify for its soon-to-begin Main Street Lending Program, in which the Fed will lend directly to individual companies for the first time since the Great Depression.
S&P 500 rallies to pre-pandemic level; Nasdaq hits record high
The S&P 500 climbed back within 4.5% of its own record, as optimism strengthens that the worst of the recession may have already passed.
Most Indiana casinos ready to reopen next week under virus plans
The Indiana Gaming Commission required casino safety plans to include how they would encourage six-foot distancing between gamblers and limit the number of people at table games, along with requiring face masks for employees.
Shutdowns prevented 60M coronavirus infections in U.S., study says
The research suggests that the aggressive and unprecedented shutdowns, which caused massive economic disruptions and job losses, were effective at halting the exponential spread of the novel coronavirus.
Economists say recession official, ending nearly 11 years of growth
It’s possible that the recession could technically end soon, making it the shortest and deepest on record.
As business trickles back, hotels compete on cleanliness
Hotels see cleaning standards as a way to soothe jittery guests—and possibly win back business from rivals like home-sharing companies like Airbnb.
Anthem pledges $50M for racial injustice, health inequities programs
Indianapolis-based health insurer Anthem Inc. and its charitable foundation said the investments will reinforce long-standing partnerships with national and community organizations “that are working tirelessly to combat systemic racial inequality and health inequities.”
Indianapolis-based Hurco suffers largest quarterly loss since 2002
The Indianapolis-based machine tool manufacturer said shutdowns related to the COVID-19 pandemic had a dramatic effect on its sales.
State sees steep drop in reported cases; nursing home deaths top 1,000
According to new numbers released Monday by the Indiana State Department of Health, 1,011 deaths—or 47.4% of the state’s total—involved long-term-care patients.
Hogsett plans to spend $76M to help residents, businesses, government agencies affected by virus
The Indianapolis City-County Council is scheduled to meet at 7 p.m. Monday night to consider the proposal.
Owner iHeart Media switches local station to all-business format
The station, which had been identifying itself as 97.5 Kiss FM since August, is now known as Business News 97.5.