Tuesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.
YMCA
The YMCA is seeking $60 billion for nonprofits and aid for youth sports.
The money will also be used to save youth sports offerings that could be impacted this summer if YMCA locations are closed.
The ‘Y’ also would use some money for contactless sports like golf and tennis.
Utility bills
Delinquent utility bills could be the highest since the financial crisis.
Bloomberg reports WEC Energy and OGE Energy may face the utility industry’s steepest hits to earnings as unpaid customer bills pile up, according to a research report.
Investment research company SSR warns that the economic fallout from the coronavirus and resulting job losses could send utilities into financial trouble.
Uber
Uber reportedly laid off 3,500 workers in three-minute zoom calls.
The ride share business is down by more than half since the pandemic began.
Angi Homeservices
Shares of Angi Homeservices, formerly Angie’s List, were up more than 17% in Monday trading after wells Fargo analyst Brian Fitzgerald upped his price target.
Management said Americans were beginning to spend on home improvement again after a sharp decline when the pandemic first started.
The company did say it has pulled back on marketing and other costs and is being mindful on spending given the uncertainty in the market.