UPDATE: Ford, Fiat Chrysler, Honda, Toyota seek to restart factories
The plants would reopen in early or mid-April, restoring the largest source of cash for automakers that generally book revenue when they ship vehicles to dealerships.
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NCAA slashes distribution to member schools by $375 million
The organization had been scheduled to distribute $600 million to more than 300 Division I schools from April to June.
Indy 500 moved to Aug. 23; Grand Prix becomes doubleheader with NASCAR race
In addition, the GMR Grand Prix—typically run as part of May’s Indy 500 festivities—will move to July 4 on the IMS road course and be conducted in conjunction with the Brickyard 400.
Stocks rise sharply again, could be heading for 3-day rally
The S&P 500 was up 4.6%, continuing a rally that has vaulted the index 16% higher since Monday on rising expectations that Congress will soon approve an unprecedented rescue package for the economy.
Small businesses fear delays in $350 billion rescue program
Getting the $350 billion in loans for small businesses in the record U.S. stimulus package into business owners’ hands before a wave of closures will strain the nation’s network of lenders and regulators as never before.
Calculating lives when making decisions not unusual for federal government
For decades, the federal government has made calculations on how policies intended to safeguard American health could impact the economy. Now, the push-pull of when to re-open the economy during the coronavirus crisis centers on a similarly bleak decision.
Powell says Federal Reserve will provide nearly unlimited lending
Federal Reserve Chairman Jerome Powell said the Fed was “not going to run out of ammunition” when it came to helping the economy recover quickly once the threat from the virus has passed.
Coronavirus cases rise to 645 in state, 293 in Marion County
The department reported that 4,651 people have been tested so far, up from 3,365 people in the previous day’s report.
Indiana’s inmates still eating meals together amid pandemic
The Indiana Department of Correction said there are no known cases of COVID-19 among the nearly 27,000 offenders housed at the state’s prison, but it also concedes that it hasn’t tested any of those inmates.
U.S. jobless claims hit 3.3 million, quadruple previous record
In Indiana, initial claims filed for the week ended March 21 rose to a whopping 61,635, up from 2,596 claims the previous week.
Little League delays opening of regional HQ in Whitestown by one year
Little League International has postponed this year’s planned opening of its Central Region headquarters, citing construction delays, not the coronavirus pandemic.
Veteran traffic reporter Mimi Pearce leaves WTHR after 18 years
WTHR-TV Channel 13 said it would no longer use a dedicated person for traffic coverage as part of a strategic shift.
Downtown Indy launches new Circle light show to express hope during pandemic
Two Indianapolis Symphony Orchestra musicians were enlisted to help produce a light and music show on Monument Circle to offer hope to the local community and countries around the world. The show airs multiple times every night from 9 p.m. until midnight, but officials are encouraging people to watch it online.
A look at what’s in the $2.2T rescue package approved by Senate
Here are major highlights of the package to rush aid to businesses, workers and a health care system slammed by the coronavirus pandemic.
Senate approves $2.2T coronavirus bill aimed at slowing economic free fall
The bill would extend $1,200 to most American adults and $500 for most children, create a $500 billion lending program for businesses, cities and states, and a $367 billion employee retention fund for small businesses.
Holcomb vetoes controversial landlord-tenant legislation
The governor’s decision to block the bill from becoming law allows tenant protections the city of Indianapolis recently put in place to remain in force.
Stock market sees first back-to-back gains in five weeks
Stocks closed higher Wednesday, but gave up much of an afternoon rally after CNBC reported that a dispute between Sen. Bernie Sanders and Republicans over unemployment aid could cause the coronavirus aid bill to be delayed.
Rural America grows more fearful as pandemic erupts in cities
Tiny towns tucked all over the country might not have had a single case of COVID-19, but their main streets are also empty and their medical clinics overwhelmed by the worried.
Stocks still rising a day after Wall Street sees historic rally
Investors are also still waiting to see the details of Washington’s plan, which will include direct payments to most Americans and aid for hard-hit industries. It’s unclear when the House of Representatives could vote on the plan.
Factory orders showed solid gain before coronavirus reached U.S.
The Commerce Department said Wednesday durable goods orders rose 1.2% last month, rebounding from January when orders had shown a tiny 0.1% gain.