Layoffs, pay cuts now striking more white collar jobs
The record-setting flood of layoffs unleashed by the viral outbreak is extending beyond the services industries that bore the initial brunt.
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Trump unveils phased approach to reopening economy
The recommendations make clear that the return to normalcy will be a far longer process than Trump initially envisioned, with federal officials warning that some social distancing measures may need to remain in place through the end of the year to prevent a new outbreak.
Independent contractors may have to wait until May to receive jobless benefits
The additional $600 in unemployment benefits could start arriving Friday for some Hoosiers, but independent contractors and gig economy workers may be waiting until next month to see any payments.
Indiana to partner with 6 other Midwestern states on reopening the economy—likely in early May
The Midwestern agreement includes Indiana, Michigan, Ohio, Wisconsin, Minnesota, Illinois and Kentucky.
Indiana reports rising number of COVID-19 cases for second straight day
The state said Thursday that the cumulative death toll in the state rose to 477, up from 436 the previous day—an increase of 41 deaths.
Downtown hotel occupancy fell 91% as health crisis escalated
The entire market saw a 68% drop in occupancy from the week of March 1-7 to the week of March 29-April 4, according to data from Tennessee-based hotel research firm STR.
Government hits lending limit on small business program
With a key coronavirus rescue fund now exhausted, negotiations are accelerating in Washington over President Donald Trump’s $250 billion emergency request to help smaller employers across the country keep workers on their payroll.
Amazon CEO Bezos wants to test all employees for COVID-19
Amazon.com CEO Jeff Bezos said his company had assembled a team comprising scientists, managers and software engineers to build internal testing capacity, and hoped to build its first testing lab soon.
Area homebuilders saw big rise in applications during first quarter
Interest in buying new homes in central Indiana surged dramatically in the first quarter, before the affects of the COVID-19 pandemic began taking its toll on the economy.
5.2 million more seek unemployment aid as U.S. layoffs spread
In Indiana, 118,184 claims were made in the week that ended April 11, down from 127,010. The state was typically seeing less than 3,000 claims per week before the outbreak.
Indiana schools already preparing for possible second wave of virus
A growing number of Indiana educators are beginning to prepare for remote instruction to go into the next academic year.
NFL contingency plans include playing in empty or half-full stadiums
While the NFL has just begun pondering a shortened season, the other major U.S. leagues are already in various stages of exploring their most feasible paths to resumption.
STAR Bank names new Indianapolis market president
The Fort Wayne-based bank’s new Indianapolis market president, Tim Oliver, will primarily work from the bank’s new Monument Circle location, which opened earlier this year.
Execs giving Trump feedback paint push to reopen nation as chaotic
President Donald Trump spent much of his day hosting conference calls with company executives, industry groups and others he announced Tuesday as part of a hastily formed outside advisory council devoted to the issue.
New group pledges $500,000 to struggling minority businesses in Marion, Hamilton counties
For its first investment, Impact is partnering with Indy Chamber’s Business Ownership Initiative in its effort to deliver rapid release response loans of $1,000 to $25,000 to businesses in need.
Gov. Holcomb says state’s economy will restart in a ‘rolling’ process
Indiana governor said employees must have “a very high level of confidence about the workplace” when businesses reopen.
Nursing home residents account for 7% of Indiana COVID-19 cases but 27% of deaths
The figures reflect the outsized danger of the coronavirus to elderly people, who often are physically weak and have underlying conditions, from heart disease to diabetes.
U.S. stocks plunge amid steep fall in bank earnings, retail sales
A series of wrenching numbers were issued Wednesday on retail sales, oil prices and bank profits that knocked a stock rally off its tracks and hit the pause button on investor optimism.
Fed sees sharp economic downturn across all regions
The nationwide look at the outbreak’s impact on the economy came from the Federal Reserve’s report known as the beige book, compiled from information supplied by the Fed’s 12 regional banks.
Apple rolls out cheaper iPhone as pandemic curbs spending
Apple maps out its products many months in advance and the new, far-less-expensive iPhone isn’t a direct response to the economic meltdown hatched by the pandemic.