Business

Tuesday’s business headlines

The latest business headlines

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

Military contract

Indianapolis-based Major Tool and Machine just won a military contract.

It will produce warhead assemblies for the U.S. Air Force.

The over $22 million contract that will be fulfilled on the company’s campus near downtown Indianapolis.

Simon malls

Simon Property Group stock has been cut in half since February 18.

In addition to the existing concerns about e-commerce, Simon is now hurting from social distancing, people are staying away from public places like malls.

There are some questions about if its merger with Taubman will happen.

Amazon

Amazon plans to hire an additional 100,000 employees in the U.S. as millions of people turn to online deliveries at an unprecendented pace.

The Wall Street Journal reports Amazon plans to hire the workers for its fulfillment centers, transportation, stores and deliveries in the U.S. and Canada and will boost pay for all workers by $2 an hour.

Overseas markets

U.S. stock futures surged overnight, hitting a 5% “limit up” at one point.

Globally, stocks are mixed with Sydney and Hong Kong higher but Japan is down.

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