U.S. consumer spending up 8.2%, partly erasing record plunge
Friday’s Commerce Department report showed that Americans stepped up their spending in May despite a 4.2% decline in personal income.
Public Health
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U.S. health officials estimate 20M Americans have had coronavirus
Twenty million infections means that about 6% of the nation’s 331 million people have been infected.
Audit: U.S. sent $1.4B in virus relief payments to dead people
The errors occurred mainly because of a lag in reporting data on who is deceased. It’s a lapse that tax experts say is almost inevitable.
Banks lead gains for stocks on Wall Street in jumpy trading
Financial companies led stocks broadly higher on Wall Street on Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.
Fans to be allowed to attend the Kentucky Derby, with restrictions
Churchill Downs will institute a number of operating procedures for the Kentucky Derby, which has been moved to Sept. 5 because of the pandemic.
Indiana reports increase of 515 COVID-19 cases as testing rising
Marion County has seen 675 deaths and more than 11,000 virus cases during the pandemic, according to the latest numbers from the state health department.
Macy’s cutting 3,900 corporate jobs as layoffs hit headquarters
The job cuts are in addition to the staff reductions already taking place inside stores, along the Macy’s supply chain and in customer support roles.
Chuck E. Cheese, hit hard by pandemic, files for bankruptcy
Chuck E. Cheese, which has four Indianapolis-area locations, has been particularly hammered by the health crisis because it is more of an entertainment venue for families than a restaurant.
Indiana sees new jobless claims rise for third straight week amid national decline
The number of laid-off workers who applied for unemployment benefits declined slightly, to 1.48 million, nationally last week, the 12th straight drop. But claims jumped in Indiana.
GNC to close at least one Indianapolis store, possibly as many as six
Vitamin and nutrition chain GNC Holdings on Wednesday identified four Indiana stores that will permanently close and seven others that could close as part of its bankruptcy reorganization.
Report: State, local relief still needed from feds to avert 4M layoffs
Wednesday’s report by Moody’s Analytics warns that doing nothing to address the economic perils of state cutbacks could cost millions of jobs. But it also says that significantly less federal aid is needed than what’s being called for by House Democrats.
NFL teams could cover seating around field with ads to make up lost revenue
The NFL and its franchises are discussing a plan by which rows of seating closest to the field in stadiums this season could be covered and used to display the logos of sponsors and messaging for league and team initiatives.
Holcomb announces $25M pandemic rental assistance program
The $25 million program, funded through federal aid the state received through the Coronavirus Aid, Relief, and Economic Security Act, will provide assistance of $500 per month for up to four months. The state expects the program to help about 12,000 households.
Stocks slide on Wall Street as U.S. coronavirus cases surge
Stocks fell sharply on Wall Street on Wednesday as new coronavirus cases in the United States climbed to the highest level in two months, dimming investors’ hopes for a relatively quick economic turnaround.
Pacers’ Brogdon in quarantine after positive test for virus
Indiana Pacers guard Malcolm Brogdon wasn’t healthy before the season was suspended, sitting out with a leg and hip muscle injury. But the stoppage has allowed him to recover.
State’s official count of COVID-19 cases surpasses 43,000
The Indiana State Department of Health on Wednesday reported nine new deaths due to the coronavirus.
Indianapolis school districts to open on scheduled start dates
School districts across Indianapolis will reopen for the upcoming academic year with in-person instruction and offer virtual instruction for students who are uncomfortable or unable to return to classrooms, according to a letter shared by districts Wednesday.
Virus pummels commercial real estate, could end long boom
Office tenants are considering renting less space as more employees work from home, and the trend toward online shopping is accelerating, which could cut already weak demand for retail space in downtown areas and malls.
Major League Baseball to come back with 60-game schedule
Major League Baseball on Tuesday night issued a schedule that will start July 23 or 24 in empty ballparks in its shortest season since 1878.
U.S. stocks rise again, but spread of virus tempering gains
U.S. stocks rose for a second day, but faded near the closing of the market as concern mounted that a spike in virus cases in some states could curtail economic activity.