Business

Thursday’s business headlines

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

ITT Tech

A nationwide settlement has been reached to provide debt relief for former students of ITT Tech, including those in Indiana.

The settlement will result in debt relief of about $330 million for former students nationwide of the failed for-profit college. The agreement affects about 43,000 loans.

Kroger

Kroger is being sued by the Equal Employment Opportunity Commission over incidents involving two ex-employees at one of its stores in Arkansas who objected to wearing aprons containing symbols backing the LGBTQ community.

The workers were fired for not wearing the aprons.

The employees say it violated their religious beliefs.

Riots

Riots sparked by the police killing of George Floyd could cost insurance companies $1-$2 billion, possibly making them the most expensive in US history.

The potentially record-setting insured losses piled up as the demonstrations sometimes descended into looting, arson and vandalism in more than 20 states across the country from May 26 to June 8, according to the Insurance Information Institute.

Holiday sales

This year’s retail holiday sales are likely to be muted, with growth of 1% to 1.5% from last year and sales of more than $1.1 billion, according to Deloitte’s annual estimate for 2020.

However, the consulting giant expects e-commerce sales to balloon by 25% to 30% year over year.

The consulting firm says this year is hard to predict because of COVID.

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