Business

Monday’s business headlines

Monday’s business headlines

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

College debt

Despite a drop in new student loan originations nationwide, existing student debt continues to balloon, even in Indianapolis.

Lending Tree says the city saw a student loan debt up more than 6.5%.

It says the increase might have less to do with new student loans and more to do with interest accruing on existing debt.

Cars

Car insurance is expected to rise in Indiana in the first half of the year.

S&P Financial Services says more than a tenth of Idnaina’s 6.6 million residents will see their car insurance rates increase.

About 580 thousand Hoosiers will see a price increase.

The average jump in prices is 3.5%.

Starbucks

Starbucks has closed all stores in China’s Hubei province amid the outbreak of dealy coronavirus in the capital of Wuhan.

Reuters says the coffee giant said the decision was prompted by the need to keep their customers and employees safe.

Cruise lines have also halted some sailings to China.

Coronarivrus

Stocks were lower overnight as three people in California and Arizona were diagnosed Sunday with the coronavirus that has led to the lockdown of several cities in China, bringing the total U.S. cases of the illness to five.

In response to the outbreak, American-owned cruise lines and resorts are suspending operations in China until the situation is contained.

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