Deadline extended on Nippon’s bid for U.S. Steel, offering hope that deal isn’t dead
The new deadline, now in mid-June, was viewed by U.S. Steel—and investors—as an opportunity for the companies to complete the acquisition.
International Business
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Manufacturers weigh potential impact of Trump tariffs promise
Incoming President Donald Trump’s pledge to impose tariffs on goods from Canada and Mexico has caught the attention of Indiana companies, which stand to experience a significant impact if new or expanded tariffs are imposed.
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Bill forcing TikTok parent to sell or face ban heads to Biden for signature
The TikTok legislation was included as part of a larger $95 billion package that provides foreign aid to Ukraine and Israel. President Joe Biden said he will sign it Wednesday.
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Banks calls on Carmel to withdraw from Chinese sister-city agreement
The rebuke from U.S. Rep. Jim Banks came after a Washington Post report that former Carmel Mayor Jim Brainard had traveled to China before he left office last year. Banks warned that sister-city agreements can unduly influence U.S. cities to support problematic Chinese policies.
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Governor leading trade delegation to Canada
During the trip, the delegation will will meet with provincial officials, including Premier of Ontario Doug Ford as well as visit the Darlington Nuclear Generating Station.
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Articles
What to know as Supreme Court takes up TikTok ban
The Supreme Court on Friday will take up TikTok’s high-stakes challenge to a federal law that would effectively shut down the wildly popular video-sharing platform this month unless the company divests from Chinese ownership.
Trump says he will change Gulf of Mexico’s name. Can he do that?
President-elect Donald Trump provided no details about how he planned to implement the name change, but the comments sparked immediate questions about whether a president has the authority to rename an international body of water.
Trump announces $20B data-center investment by Emirati businessman
The promised investment feeds into an existing boom for constructing data centers used in the development of artificial intelligence and expansion of cryptocurrency.
Canada’s Trudeau announces resignation after nearly decade as prime minister
Canadian Prime Minister Justin Trudeau became deeply unpopular with voters in recent years over a range of issues, including the soaring cost of food and housing, and surging immigration.
New bills seek to sever state business ties to companies in adversarial countries
The two bills are focused on reducing the influence of countries potentially posing a threat to the United States and Indiana.
Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe
Ford sales fell 15.3% in the first nine months of the year compared to the same period last year, according to the European Automobile Manufacturers’ Association. The company’s market share shrank to 3% from 3.5%
Congressional panel urges toughening U.S.-China trade relationship
In its annual report to Congress released Tuesday, the U.S.-China Economic and Security Review Commission called for the first time for ending permanent normal trade relations with Beijing.
Holcomb plans trade trip to Saudi Arabia, Kuwait
It will be Holcomb’s 27th and final international economic development trip as governor, and his first visits to Kuwait and Saudi Arabia.
Allison Transmission investing $100M-plus to expand production in India
Indianapolis-based Allison Transmission plans to add 200,000 square feet to its manufacturing facility in Chennai, India, the company announced Thursday, doubling its manufacturing footprint at the site.
Holcomb heading to Greece on latest trade trip
Indiana Gov. Eric Holcomb is scheduled to lead a trade delegation to Athens in a trip organized by the Council of State Governments.
TikTok face offs with Justice Department over law that could lead to ban
Before a panel of three judges at a federal appeals court, attorneys for the two sides—and content creators—were pressed on their best arguments for and against the law that forces the two companies to break ties by mid-January or lose one of their biggest markets in the world.
Biden cracks down on loophole that enables tariff-free imports by Temu, Shein
Importers mainly from China have used the de minimis exemption for shipments of $800 or less to flood the U.S. market.
Holcomb signs Ukraine agreement after meeting Zelenskyy
With Ukrainian President Volodymyr Zelenskyy watching, Indiana Gov. Eric Holcomb signed a memorandum of understanding to grow a relationship focused on academia, agriculture and economic development.
Holcomb, Zelenskyy to meet, talk partnership in Ukraine
Indiana Gov. Eric Holcomb is set to become the first U.S. governor to travel to the country since Russia’s invasion more than two years ago.
Holcomb hints at more possible trade trips in final months as governor
After spending the last week on a trade trip in Australia and Singapore, Indiana Gov. Eric Holcomb told reporters he plans to “maximize” his final months in office.
Amid tensions, some states are purging Chinese companies from their investments
Indiana last year became the first to enact a law requiring the state’s public pension system to gradually divest from certain Chinese companies.
Weight-loss-drug frenzy lures rich Indians to brave the gray market
The race to score blockbuster weight-loss drugs like Eli Lilly’s Mounjaro and Zepbound is pushing one of the world’s largest population of people with obesity to creative lengths.
Supreme Court upholds tax on foreign income over challenge backed by business interests
The justices, by a 7-2 vote, left in place a provision of a 2017 tax law that is expected to generate $340 billion, mainly from the foreign subsidiaries of domestic corporations that parked money abroad to shield it from U.S. taxes.
Britain poised to offer Eli Lilly’s weight-loss drug to patients
If the guidance is confirmed, Mounjaro will challenge the dominance of Novo’s Wegovy in the United Kingdom.