CEO leaving bankrupt Celadon for new logistics job
Celadon CEO Paul Svindland, who joined the company in 2017 and tried to turn around the troubled trucking company, is departing for a CEO job at another logistics company.
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Lilly reports strong fourth quarter on rising sales of Trulicity, Taltz
The Indianapolis-based drugmaker exceeded analyst expectations for both profit and revenue during the most recent quarter.
Survey: University investments saw slower growth in 2019
Most U.S. universities made money on their financial investments last year, but their returns were tempered by a global economic slowdown fueled by America’s trade war with China, according to an annual survey of school finance chiefs.
U.S. economy grew at moderate 2.1% rate in fourth quarter
For the whole year, GDP increased 2.3%, the weakest performance in three years and a slowdown from a 2.9% gain in 2018.
With restaurateur Brown out, Oesterle seeks new tenant for old 38th Street bank building
Local restaurateur Neal Brown has scrapped plans to open what he had planned to call Midtown Brasserie in a 73-year-old art deco building at 215 E. 38th St.
Distracted driving bill passes House, moves to Senate
The House has passed legislation that would bar all drivers from having their phones in their hands while driving. House Bill 1070 passed 86-10 on Wednesday. The two-page bill, authored by Rep. Holli Sullivan, R-Evansville, updates a current law passed in 2011 that requires all phones must be used hands-free while behind the wheel of […]
Indiana’s northern neighbor to borrow $3.5B to fix roads
Calling her state’s roads “the most beat up and dangerous in the country,” Michigan Gov. Gretchen Whitmer announced Wednesday that she will borrow $3.5 billion to rebuild deteriorating highways and bridges over five years.
Bottleworks District project adds three more tenants, including fish-and-chips shop
The Harbour, YogaSix and Witch Hazel Salon will join a growing list of tenants for the first phase of the 12-acre, $300 million mixed-use development at 850 Massachusetts Ave., officials said.
Indiana governor signs spending plan for surplus revenue
By paying for the projects with surplus cash instead of issuing debt as originally planned, state officials estimate it could save the state more than $130 million over 20 years.
Fed leaves key rate unchanged at low level amid global risks
The Federal Reserve sketched a mostly positive picture of the U.S. economy after its latest policy meeting. It also repeated its pledge to “monitor” the world economy, which may be held back in the coming months by China’s viral outbreak.
Warren Buffett getting out of newspaper business
Buffett is a lifelong fan of newspapers but he has said for several years that he expects most of them to continue on their declining trajectory, save for a handful of national papers.
Buyers move to used vehicles as new autos hit record prices
Consumers bought an estimated 40.4 million used vehicles last year, likely passing the old record of 40.2 million set in 2018, according to figures from the Edmunds.com auto pricing site.
City awarded record federal funding for homeless initiatives
The city of Indianapolis on Wednesday was awarded $6.3 million in grants from the U.S. Department of Housing and Urban Development for initiatives and organizations that aim to eliminate homelessness.
Trump: New trade deal with Canada, Mexico to boost U.S. growth
President Donald Trump on Wednesday signed into law a major rewrite of the rules of trade with Canada and Mexico that he said replaces the “nightmare” of a Clinton-era agreement and will keep jobs, wealth and growth in America.
Anthem sees big jump in quarterly profit, but misses analyst expectations
The Indianapolis-based health care insurer’s earnings more than doubled, to $934 million, in the fourth quarter, compared with $424 million in the same quarter of 2018.
Colts, Allegiant sign naming-rights deal for stadium terrace level
Las Vegas-based Allegiant will become the “official airline” of the team as part of a multi-year deal.
D.C.-area tech and marketing firm plans to open Indy office, hire up to 100 this year
U.Group formed last year through the merger of a firm specializing in government IT and another focused on digital marketing.
IU business school lands $16M gift from late alum’s foundation
The donation came from the family foundation of Brian Jellison, an Indiana University native who went on to become one of the country’s highest-paid CEOs.
Lawmakers consider change to business personal property tax
Senate Bill 385, authored by Sen. Aaron Freeman, R-Indianapolis, would change the way the state’s business personal property tax is calculated.
Indiana lawmakers pass bill aimed at addressing health care costs
The Indiana House approved legislation that would attempt to end surprise billing, and the Indiana Senate approved a bill that could establish a statewide all-payer claims database.