U.S. jobless rate unexpectedly fell in May as hiring rebounded
America’s labor market unexpectedly rebounded in May, signaling the economy is picking up faster than thought from the depths of the damage from the coronavirus pandemic.
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Airline stocks soar as American, United add back flights
American Airlines said it will aggressively add back flights in July, while United Airlines also announced plans to add back flights, while taking a more cautious approach.
NBA owners approve 22-team season restart plan
The NBA’s Board of Governors has approved a 22-team format for restarting the league season in late July at the Disney campus near Orlando, Florida. The Indiana Pacers would be among the 22 teams involved in the restart.
Indiana State Fair called off this year over pandemic concerns
Organizers said the event will be replaced with a modified State Fair 4-H Livestock Show featuring additional activities.
Simon Property Group sues Gap Inc. over $65.9M in unpaid rent
Gap Inc. has more than 390 stores at Indianapolis-based Simon’s malls, including its namesake brand, Old Navy and Banana Republic.
State health department reports daily high in COVID-19 testing
The department said Thursday that the cumulative death toll in the state rose to 2,052, up from 2,032 the previous day—an increase of 20.
Brickyard 400, affiliated races to run without spectators on July 4 weekend
Indianapolis Motor Speedway officials said allowing spectators would be too difficult because of possible social distancing restrictions in place for the COVID-19 pandemic.
Another 1.9M file new unemployment claims, including 23,591 in Indiana
The diminishing pace suggests that the job market meltdown that was triggered by the coronavirus may have bottomed out, as more companies call at least some of their former employees back to work.
U.S. Senate passes changes to Paycheck Protection Program
The legislation would give business owners more flexibility to use taxpayer subsidies for other costs and extend the lifespan of the program as the economy continues to struggle through record joblessness and a deep recession.
Feds finds 196 more COVID-19 deaths in Indiana nursing homes than state reported
Indiana health leaders said they were working Wednesday to determine why a federal report found more coronavirus-related deaths among the state’s nursing home residents than state officials had tallied.
State plans to test all long-term care facility employees for COVID-19
Nursing homes across the country have been hit particularly hard by COVID-19. In Indiana, 945 of the state’s more than 2,000 deaths have involved residents at the facilities.
Wall Street’s rally rolls on; S&P 500 back within 8% of high
The S&P 500 has surged nearly 40% since late March. The index is back above where it was on Feb. 26, one week after setting its record.
NHRA to resume drag racing in July at Indianapolis with limited fans
National Hot Rod Association drag racing plans to resume its season in July with back-to-back events at Lucas Oil Raceway.
Theater chain AMC casts doubt on its ability to survive
AMC, the biggest movie theater chain in the U.S. and Europe, is seeking to tame its debt load by asking subordinated bondholders to accept cuts of about 50% from full face value on existing debt.
Indiana’s neighbor becomes first to tap Federal Reserve for lifeline loan
Illinois is planning to borrow $1.2 billion from the central bank for one-year to cope with revenue losses brought on by the economic shutdowns caused by the pandemic and the delay of its annual tax-filing deadline.
Indiana’s COVID case count rises by 475, deaths by 10
The Indiana State Department of Health on Wednesday said 277,815 people have been tested so far, up from 271,919 in Tuesday’s report—an increase of 5,896.
Downtown July 4 Freedom Fest, fireworks display called off
Organizers said public health concerns and financial resources were the main factors in canceling the 50-year-old event.
Zoom booms as pandemic drives millions to its video service
Tuesday’s release of the once-obscure company’s financial results for the February-April period provided a window into the astronomical growth that has turned it into a Wall Street star.
Colts to hold camp at own training facility instead of Grand Park
All 32 NFL teams have been told by Commissioner Roger Goodell to hold training camps at their home facilities this summer because of the COVID-19 pandemic.
Scenes from Indiana’s primary election: Long lines, social distancing, more
For the first few hours, voters at some sites did not experience the long waits or frustration that many voting-rights advocates feared, but turnout increased later in the day.