Business

Tuesday’s business headlines

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

Stimulus check

Thirty-five million checks are still outstanding.

The people still waiting include recipients of social security or railroad retirement benefits who do not file tax returns and millions who receive supplemental security income or veterans administration benefits who do not file tax returns.

The U.S. Government has sent out 159 million stimulus checks to individuals and families to date.

Business owners

Black business owners’ ranks collapsed by 41% in U.S. lockdowns.

Overall, 3.3 million U.S. businesses closed, largest on record.

The COVID-19 economic shutdown has hurt African American businesses the most among racial and ethnic groups in the U.S. with a 41% decline of black owners from February to April, a new study from the National Bureau of Economic Research shows.

Google Maps

Google is adding features on its maps service to alert users about COVID-19-related travel restrictions to help them plan their trips better.

The update would allow users to check how crowded a train station might be at a particular time, or if buses on certain route are running on a limited schedule.

The Federal Reserve

The Federal Reserve is set to meet Tuesday and Wednesday.

Its latest interest rate decisions will be announced following the conclusion of the meeting.

While it’s virtually certain that interest rates will be held steady at nearly zero, the statement will be especially important because it’s the first time since the economy started to reopen.

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