Stocks tumble, investors dash for cash amid recession fears
Stocks sank more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration.
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Indianapolis hospitals could be overwhelmed within weeks, new study says
This area has 1,081 intensive care unit beds, but they could be filled by coronavirus patients within weeks under numerous scenarios mapped out by the Harvard Global Health Institute.
Pharma giant Lilly to help Indiana health officials with COVID-19 testing
State officials have taken sharp criticism in the last week for the slow pace of testing. Through Tuesday, the Indiana State Department of Health had conducted 193 tests, out of which 39 were presumed positive.
Simon Property closing all shopping malls until March 29
The Indianapolis-based company said Wednesday that it made the decision “after extensive discussions with federal, state and local officials and in recognition of the need to address the spread of COVID-19.”
UPDATE: Major automakers agree to close all factories
The United Auto Workers union has been pushing for factories to close because workers are fearful of coming into contact with the coronavirus.
Trump to order suspension of all foreclosures, evictions until May
President Donald Trump says he’ll invoke the Korean War-era Defense Production Act to marshal the private sector in response to the coronavirus pandemic.
Indianapolis library adds to digital collection amid outbreak demand
The library shut down all its physical locations at the end of the day Saturday. This, plus the fact that many patrons are home from work or school, has created a big bump in demand for digital materials.
IndyHub launches virtual meet-ups initiative in response to pandemic
IndyHub, working with Leadership Indianapolis, plans to host digital book clubs, panel discussions and virtual meet-ups, replacing their traditional event and program schedules with opportunities to convene remotely.
Treasury proposal: Deliver $500B to Americans starting April 6
The Treasury Department wants to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy as the coronavirus epidemic threatens a body slam to taxpayers and businesses.
State teachers getting paid during closures; other school employees face uncertainty
It’s up to each district to decide whether to pay hourly workers—including bus drivers, custodians, food service employees and paraprofessionals—who are typically paid only for days when students are present.
A cruel paradox: Beating virus means causing U.S. recession
The vast changes deemed necessary to defeat the virus—people and companies no longer engaging with each other—are bringing everyday business to a halt and likely delivering a death blow to the longest economic expansion on record.
Honda shutting down plants for a week due to coronavirus
The closures involve six plants in the United States, Canada, and Mexico, including the company’s Indiana plant in Greensburg.
Ikea temporarily shutting down all U.S. stores
The international retailer opened its Fishers store in October 2017.
Panic buying leaves retailers scrambling to restock
Grocers big and small are hiring more workers, paying overtime and limiting purchases on certain high demand items as they scramble to restock shelves that have been wiped out in response to the global viral pandemic.
Wide swath of economy seeks share of COVID-19 rescue package
As Congress works on a rescue package to help shore up a U.S. economy hard hit by the pandemic, businesses from the solar power industry to casinos and hotels, along with doctors, nurses and educators are urging lawmakers to give them a share of the pie.
Trump pushes for massive aid from Congress, checks to public
President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored people to stay home to stop the spread of the coronavirus. His proposed economic package could approach $1 trillion.
Wide disparity in coronavirus responses found across nation
In some places, governors, mayors and county leaders have instituted aggressive action that is changing the fabric of life. In other spots, authorities have been far more lax, allowing routines to carry on more or less as normal.
Democratic candidate for governor says state should tap cash reserves to fight coronavirus
Candidate Woody Myers on Tuesday issued his own plan for dealing with the outbreak, which includes spending some of the state’s surplus revenue and bringing state lawmakers back for a special session.
U.S. expected to lose 4.6M travel-related jobs this year from virus fallout
Total spending on travel in the United States—including from transportation, retail, lodging and restaurants—is expected to drop by $355 billion for the year, or 31 percent—more than six times the impact of the Sept. 11, 2001, terrorist attacks.
Administration announces 90-day delay for many tax payments
Taxpayers will still have to file their tax returns by the April 15 deadline. But they won’t have to pay their tax bill for 90 additional days. During that time, individuals and corporations will not be subject to interest or penalty payments.