Business

Monday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Colts

The Colts rank 20th among the most valuable NFL teams.

Forbes says the Colts are worth $2.85 billion, up 8% from last year.

The average franchise value tops $3 billion for the first time this year, according to the Forbes ranking of the league’s most valuable teams.

TikTok

President Trump said he has given his blessing to a deal which Oracle and Walmart would partner with TikTok in the U.S.

Oracle will become TikTok’s cloud provider and a minority investor with a 12.5% stake.

Walmart has tentatively agreed to purchase a 7.5% stake.

TikTok’s Chinese parent company by ByteDance will own the remaining 80% of TikTok, according to a person familiar with the matter.

Popcorn

Movie theater popcorn sales have tanked.

Since theaters have been closed, popcorn farmers have had to work on finding new markets.

Microwave popcorn sales have boomed, which has helped.

Indiana ranks as the nation’s No. 2 producer of popcorn, behind only Nebraska, according to the National Agricultural Statistics Service. Indiana farmers have harvested more than 252 million pounds of popcorn for various companies.

Recession

The U.S. economy is at a crossroads, with some analysts saying Congress’s failure to pass another stimulus package would tip the nation back into recession.

Lawmakers remain deadlocked over a measure to provide another round of $1,200 checks to most households and more aid to struggling small businesses.

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