Cummins exceeds expectations despite historic drop in quarterly revenue
Cummins said it expects sales to improve in the third quarter, although the pandemic continues to create considerable uncertainty.
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U.S. industrial production surged 5.4% in June
The June performance was better than the forecasts of most economists and reflected the reopening of many parts of the U.S. economy after lockdowns in the spring.
Segway, popular with police but not the public, hits brakes
Segway, which boldly claimed its two-wheeled personal transporter would revolutionize the way people get around, is ending production of its namesake vehicle.
Cummins to form joint venture with hydrogen storage company
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.
2020 Indiana 100: Cook Group still blazing own trail 9 years after founder’s death
The company, whose largest business is medical devices, generated $2.4 billion in revenue last year and employs 13,531 people worldwide, including 7,699 in Indiana.
United Auto Workers chief, prosecutor to discuss reforming union
United Auto Workers represents about 150,000 workers employed by Ford, Fiat Chrysler and General Motors, but it also includes casino workers, university graduate assistants and others.
The great diamond glut: Miners stuck with gems worth billions
The pandemic has devastated the diamond world. Jewelry stores closed their doors, India’s cutting and polishing artisans were forced to stay home and De Beers had to cancel its March sale because buyers couldn’t travel to view the merchandise.
Indianapolis-based Hurco suffers largest quarterly loss since 2002
The Indianapolis-based machine tool manufacturer said shutdowns related to the COVID-19 pandemic had a dramatic effect on its sales.
Despite pandemic, Indiana’s RV industry sees demand surge
The coronavirus pandemic has made many consumers cautious of air travel, cruise ships and hotels, and they now see RVs as a safer mode of travel and better vacation alternative.
Ex-UAW president pleads guilty to living high life on dues
Gary Jones acknowledged that he falsified expenses from 2012 to 2017 when he was a regional UAW director. He was promoted to president in 2018 but quit after 17 months as the federal investigation intensified.
Coke bottler planning $55M Whitestown facility to consolidate statewide warehousing
The nation’s largest Coca-Cola bottler is planning to merge its Anderson, Bloomington, Lafayette, Shelbyville and Speedway warehousing and distribution operations into a massive new Whitestown facility by next spring.
Infected workers, parts shortages slow auto factory restarts
For some automakers, the return to full production has been delayed, or it’s been herky-herky, with production lines stopping and starting due to infected workers or parts shortages from Mexico and elsewhere.
Under pressure, Calumet returns $31.4M in federal COVID-19 relief loans
The Indianapolis-based maker of oils, lubricants and fuels was among the nation’s largest recipients of Paycheck Protection Program loans, which for the most part were intended for small businesses.
Auto workers’ tenuous return a ray of hope in jobs crisis
About 133,000 U.S. workers will be pouring back into auto assembly plants that will open in the coming week.
Allison Transmission sees first-quarter profit, revenue decline
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
Indiana-based public firm Escalade returns pandemic rescue loan
The sporting and recreational equipment manufacturer said it repaid its loan to comply with a rule change in the Paycheck Protection Program.
Cummins’ stock jumps after quarterly results exceed expectations
The Indiana-based engine manufacturer warned that the second quarter will be much more difficult, with production and demand largely sidelined by the pandemic.
Allegion sees quarterly profit tumble due to COVID-19-related costs
The security-products maker, whose North American headquarters are in Carmel, exceeded analyst expectations despite a $96.3 million impairment charge because of COVID-19-related uncertainty.
Fuel pump problem forces Subaru to recall more than 200K vehicles
The recall covers certain 2019 Impreza, Outback, Legacy, and Ascent vehicles built from June 26, 2018, through Feb. 25, 2019.
State working with 15 companies to acquire more personal protective equipment
Luke Bosso, chief of staff for the Indiana Economic Development Corp., said during Monday’s media briefing that the state has purchased 1.9 million pieces of PPE so far.