Business

Wednesday’s business headlines

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

Teachers

One of the nation’s largest teachers’ unions is authorizing its members to strike if their schools plan to reopen without property safety measures.

The American Federation of Teachers represents 1.7 million school employees.

It says strikes should be considered only as a “last resort.” It lists conditions the organizations wants to be met for schools to reopen, It says buildings should reopen only in areas with lower virus rates, and only if schools require masks, update ventilation systems and make changes to space students apart.

COVID tests

The FDA on Friday granted Labcorp an emergency use authorization to test people with no symptoms for the coronavirus, the first time the agency has authorized such a test in asymptomatic individuals.

Previously, to get a coronavirus diagnostic test, a person may have been asked to meet certain criteria, such as having symptoms of COVID-19 or close contact with a confirmed case.

The test does require a prescription.

Remington

Remington Arms, the nation’s oldest gunmaker, declared bankruptcy for the second time in as many years at a time when firearms sales are soaring.

The company owes other businesses millions and that is offsetting strong sales.

One of its largest creditors is Indianapolis-based Eco-bat, which produces and recycles lead.

Cummins

COVID-19 has hit Columbus-based Cummins hard.

Revenues decreased 38% from the same quarter in 2019 due to novel coronavirus-related customer shutdowns and weak economic activity.

The CEO did tell employees that temporary salary and hour cuts should end in a couple of months.

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