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'Doyel & Derek' podcast: Coronavirus, IU basketball are hot topics

IndyStar's columnist and radio man Derek Schultz cover the Hoosiers, Boilermakers, Bulldogs and what disease concerns mean to fans

      




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Doyel: March Madness was the Titanic and there was no way to avoid that coronavirus iceberg

People are mad, and want answers from NCAA president Mark Emmert about canceling March Madness without postponing it first. So let's ask him.

      




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U.S. sprinter Jesse Owens tied a world record at Hinkle Fieldhouse 85 years ago today

Eighty-five years ago Monday, Jesse Owens tied the 60-yard dash world record at the Butler Indoor Relays at Hinkle Fieldhouse.

      




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Ex-Butler guard Rotnei Clarke makes dramatic escape from Italy's coronavirus pandemic

Rotnei Clarke and his wife packed for her and their three small children in less than three hours.

      




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5 Record Store Day acts in 100 seconds

Check out performances at Indy CD & Vinyl, Luna Music and Square Cat Vinyl.

       




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Carmel gears up for summer farmers market during coronavirus pandemic

Ron Carter, president of Carmel Farmers Markets, talks about the city's preparations for the summer market amid worries over the novel coronavirus.

       




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New York City to buy 50,000 coronavirus test kits weekly from Indianapolis lab

New York City will be purchasing 50,000 coronavirus test kits weekly from an Indianapolis lab, Aria Diagnostics, owned by a Carmel resident.

       




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Some 5th District candidates rely on personal loans for campaigns amid coronavirus

Republican state Sen. Victoria Spartz had the biggest personal loan, giving her campaign $750,000 while raising under $10,000.

       




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How an e-cigarette store owner is making his businesses essential during coronavirus

Many businesses have had to change course during the coronavirus lockdown but few as quickly this e-cig maker who now makes hand sanitizer.

       




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Here's what Carmel, Indiana, looks like during the coronavirus pandemic

Carmel, Indiana, copes with closures during the COVID-19 pandemic on Wednesday, April 22, 2020.

       




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Fishers announces coronavirus recovery plan, would become 3rd city with health department

Fishers Mayor Scott Fadness announced Thursday that the city will seek to establish its own health department.

       




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Carmel mayor's promotion of coronavirus testing lab Aria Diagnostics raises concerns

Some ethics experts say Carmel Mayor Jim Brainard's push for coronavirus testing at Indianapolis lab Aria Diagnostics raises flags.

       




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Hamilton Town Center begins to reopen as coronavirus-related restrictions start to ease

Some stores opened today, some will open soon at Hamilton Town Center. Each store has its safety precautions ready, shoppers work to stay safe, too.

       




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Coronavirus puts plans for Shake Shack in Fishers on hold

Before coronavirus, the 4,203-square-foot Shake Shake restaurant was originally slated for a late 2020 opening in The Yard at Fishers.

       




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Carmel partners with company to test residents' feces for coronavirus

How many people have coronavirus in Carmel? The city soon may soon get a better picture — by testing residents' feces.

       




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Aide to U.S. Vice-President Pence tests positive for coronavirus

U.S. Vice-President Mike Pence's press secretary has the coronavirus, the White House said Friday, making her the second person who works at the White House complex known to test positive for the virus this week.




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The Indy 500 was 'better than Christmas' for Pat Kennedy. He died of the coronavirus at 63

Pat Kennedy died on April 12 at the age of 63 after contracting the coronavirus. He attended 57 consecutive Indy 500s.

       




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Roger Penske on the coronavirus: 'No matter how bad it seems, everything's an opportunity'

Penske has seen his company's stock price fall by 40%, his new racing series suspended and the Indy 500 scheduled outside of May for the first time

       




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IndyCar, IMS to auction off fan experiences to support non-profits battling the coronavirus

Interested in waiving the green flag at an Indy 500 practice, and looking to stay busy during the Month of May? IndyCar and IMS have a solution.

       




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Plainfield Correctional Facility inmates grow a garden to give back

Plainfield Correctional Facility inmates grow produce in a garden to give to needy.

      




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Danville's Ella Collier is Hendricks County's all-time scoring leader — and she earned it.

Danville senior Ella Collier is Hendricks County's all-time leading scorer. And it didn't happen by accident.

      




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Connor Lucas' scorching hot night leads No. 4 Brownsburg past No. 9 Westfield

"I feel like, if I get hot, I'm one of the best shooters in the state," said the Brownsburg senior.

      




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Here's what Danville looks like during coronavirus pandemic

A look at Danville, Indiana, during the coronavirus pandemic

       




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How funerals are removing dead from nursing homes during coronavirus pandemic

"We all struggled with personal protective equipment in the funeral industry," said Eric Bell, funeral director and owner of David A. Hall Mortuary in Pittsboro, Ind.

       




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Funeral director on how families are honoring their loved ones during coronavirus pandemic

Eric Bell, a funeral director in Pittsboro, Ind., says the longest he's waited to hold a memorial service is two months for a deceased person. He explains why.

       




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Browne not going to Glencore

Yes you read the headline correctly.

It turns out that Lord Browne isn't going to be chairman of Glencore after all

And, of course, if you think I look like a plonker, that's fair enough.

Here is what happened.

Glencore's announcement that it plans to list on the London and Hong Kong stock exchanges said this:

"Glencore has made its decision regarding the new chairman and is in the final stages of making the appointment, which will be communicated shortly".

I was told by impeccable sources that the chosen candidate was Lord Browne. And that is definitely the case.

However those "final stages of making the appointment" were not the formality that I and my sources believed.

When it came to the final talks between Lord Browne and Glencore, there was a disagreement about governance issues.

Anyway, Glencore came to the view that Browne wasn't quite right for it. My sense is that Lord Browne was more of a stickler for detail than this entrepreneurial company felt comfortable with.

So what on earth happens now?

Well Glencore can't float without a chairman.

Before Lord Browne became the preferred candidate, Simon Murray - the Hong Kong business leader - was the favourite to take the job.

Does he still want the job? Does Glencore want him?

I don't know, but I will endeavour to find out.

It's all a cracking corporate soap opera. But probably not the ideal curtain-raiser for the biggest flotation the London market has ever seen.

Update 15:15: Glencore has now appointed Simon Murray, former managing director of the Asian giant Hutchison Whampoa, as its chairman.




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The corporate story behind GDP challenge

A clutch of big company results today illustrate the big economic trends in the UK and the world - and also say something about what the UK economy needs if its insipid recovery is to become something a bit stronger.

First the good news.

ARM, the world-leading designer of electronic chips for smartphones, tablets and consumer devices, saw revenues rise 29% in the first three months of the year and profits increase 35% (to £51m).

If we had a few more ARMs in this country, we would be agonising less about the imperative of "rebalancing" the structure of our wealth-creation away from financial services and the City.

That said, we'd need an incredible number of ARMs to make a dent in the high unemployment figures, because ARM simply licences its technology to the likes of Apple and LG, which put the chips into their devices. Or to put it another way, ARM's success is in exploiting the grey matter of a few boffins: it manufactures nothing.

Now part of the drag on Britain's recovery is the burden of debt on households and the impact of rising commodity prices on consumers' spending power.

You can see some of that in the first half figures of Associated British Foods, which points out that world sugar prices are at a 30-year high and that there has been a sugar shortage in Europe. ABF's sugar, grocery and agriculture profits were up substantially (sugar by 27%).

ABF's Primark chain of shops, whose prices tend to be the lowest on the high street, seems to have benefited from shoppers desire to trade down and economise, since underlying or like-for-like sales rose 3%. But although that looks okay compared with competitors, it was half the rate of last year's increase.

A further manifestation of all that borrowing in the euphoric years, before the bubble burst in 2007-8, is another set of uninspiring financial results from Heathrow and Stansted airports, and their holding company, BAA (SP) limited.

The losses of the two London airports increased 8% to £211.5m and net debt in BAA (SP) was flat at a substantial £9.9bn. Net debt at the next corporate level up, BAA (SH) plc was a chunky £10.4bn, against a regulated asset base of £13bn (which moved in the right direction by 2.7%).

BAA was acquired by the Spanish group Ferrovial and partners at the height of the debt-fuelled buyout boom of 2006 - and although BAA would argue that operational performance has improved, there is a question about when if ever the owners will ever see a return on their enormous investment.

Meanwhile, in spite of the rising trend of commodities and energy, including oil, BP's profits in the first three months of the year actually fell a fraction to $5.5bn. You can see the impact of higher oil prices in a near trebling of profits to $2.1bn made in refining and marketing - but there was a significant fall in production, some of it related to the Gulf of Mexico disaster.

The fundamental BP story is that the risks and costs of extracting energy are on a secular rising trend - for which we all pay a price.

Last but never least is Barclays and its figures for the first quarter of 2011 - which show top line income lower than the first quarter of last year and below the last quarter of last year. As for profits, they were up a bit or down a bit, depending on what view you take of whether changes in the notional value of Barclays' own borrowings should be included.

The unambiguous trend is a sharp reduction in the charge of debts and investments going bad - which was 39% lower compared with a year ago and 33% down on a three-month comparison.

As for lending, loans to retail customers rose by just under £1bn to £229bn since the end of 2010 - which is neither here nor there for a bank of Barclays' size. And the overall value of Barclays' loans and investments, on a risk-weighted basis, fell 1.5% over 12 months to £392bn.

For Barclays and other big western banks, it's no longer about growing their balance sheets, about lending more and more. Their long term recovery requires deleveraging, shrinking, which is the corollary of the perceived need for western consumers and governments to pay down their respective debts.

Here's the painful part: we may need banks to become smaller, but we all suffer if in the process they starve job-creating businesses of vital finance.

Those who fear the worst won't be reassured by figures just released by the British Bankers Association (BBA), which show that net lending to non-financial businesses by banks fell £3.2bn in March.

The BBA blames weak demand from companies. And although Barclays and the other banks have promised the Treasury, in their Project Merlin agreement, that they will meet the credit needs of the economy, my electronic postbag indicates that there remains quite a gap between their perception of deserving borrowers and yours.

Update 11:15: As some of you have pointed out, ARM saw its profits increase to £51m not £51bn, as I originally said, whilst losses at the two London airports increased to £211.5m, not £211.5bn. Sorry for my brainstorm. I've probably been dealing in billions a little too often recently - due to the magnitude of our recent financial crisis.




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Four billionaires at Glencore

I can't recall a flotation like it, in terms of the sheer number of executives emerging as wealthy beyond most people's wildest dreams or expectations - not even the conversion of Goldman Sachs into a public company or the listing of Google.

When Glencore publishes its full flotation prospectus later this morning, it will show that there are four billionaires working for the world's leading commodities, minerals and energy trader.

These are led by the chief executive Ivan Glasenberg, who will be shown to be worth around $10bn.

But it is the quartet of billionaires, plus many others worth more than $100m each, and hundreds who are millionaires, that makes Glencore quite extraordinary.

Now all the top executives are saying they won't sell any of their shares for five years at least - that they won't use the flotation to cash in. As for Glasenberg, he's pledging not to sell even a single share till he steps down as chief executive.

Even so, the stock market listing converts their stakes into currency. These are not paupers.

Is there a price for them of this remarkable valuation of their respective Glencore holdings?

Well their company is already receiving vastly more public scrutiny - for it's environmental record and tax practices, for example - than it did as a pretty secretive private company over the last 20 years or so.

It won't like all this attention - such as claims in this morning's Daily Mail of how Glencore's copper mining operations in Zambia are doing too little for that country.

And it certainly didn't enjoy the furore sparked by remarks of the new chairman, Simon Murray, about how women's desire to have babies prevents them rising to then top in business.

But some of you might feel that whatever embarrassment is caused to Glencore's bosses will be softened by all that personal wealth.

Update 16:44: Oh dear. There’s another billionaire at Glencore I somehow missed.

The prospectus – which is longer than Proust, and racier than Proust in parts – shows that the chief executive, Ivan Glasenberg is worth just under $10bn.

Also, two of his lieutenants are each worth around $3.7bn, one other has a $3.2bn holding and the fifth in this billionaire quintet has a $2.8bn stake.

The poor finance director, Steven Kalmin, is worth a mere $610m.

As the FT points out, each one of these has a holding worth more than what the famous (some would use a less flattering epithet) founder of Glencore, Marc Rich, pocketed when he sold the business to management less than 20 years ago.




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Avon Schools is closing due to coronavirus concerns. Here's what parents need to know.

After a coronavirus update that a second student was showing symptoms, Avon schools decided to close all buildings ahead of spring break.

      




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Avon Schools close through March 20 after second student shows symptoms of the coronavirus

All Avon schools will close through March 20 as one student has tested positive and a second student is showing symptoms of the novel coronavirus.

      




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Indiana University will move to remote teaching after spring break over coronavirus concerns

Indiana University will move to remote teaching after its scheduled spring break over concerns about the spread of the coronavirus.

      




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Zionsville, Lebanon schools close and move classes online amid coronavirus concerns

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What Indianapolis-area schools are saying about the coronavirus in Indiana

As the first cases of Hoosiers who test positive for COVID-19 are confirmed, schools in central Indiana are continuing to keep families updated.

      




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List of Indianapolis-area coronavirus school closings

As national, state and local officials consider ways to slow the spread of COVID-19, many are closing schools.

      




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Virtual class, canceled travel: Indiana colleges and universities respond to coronavirus

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Indiana schools continue to pay teachers, other staff during coronavirus closures

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Schools across the state are closed until at least May 1, and it's possible that will be extended so students finish the year at home.

      




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How Indiana colleges are handling refunds after coronavirus empties campuses

Colleges across Indiana are navigating how to handle refunds for students who have had to vacate residence halls during the COVID-19 pandemic.

      




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Coronavirus pushed school online. But what happens when you don't have internet at home?

The coronavirus outbreak shut down Indiana schools until at least May 1, meaning many are moving online. But not all students have internet access.

      




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Stunned by coronavirus, a college town slowly awakens to a surreal new normal

At Indiana University, the invincibility of youth and the freedom of college life are shattered by a school year cut short.

       




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How closed schools impact English learners and how teachers communicate amid coronavirus

While learning loss is a concern, ESL teachers are finding ways to stay connected, even if that means doing more in students' native languages.

       




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Coronavirus took their final milestones. Now, high school seniors are planning next steps

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IU student files lawsuit, seeks reimbursement after class moved online due to coronavirus

An Indiana University student is suing the school, looking for a partial reimbursement on tuition and fees paid for the spring semester.

       




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Sintomas do coronavírus: quais os novos sinais de covid-19 que as autoridades americanas acrescentaram à lista

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Autoridades americanas comemoram 'efeito certeiro' de remédio contra coronavírus

No mesmo dia, entretanto, uma publicação no periódico Lancet colocou dúvida sobre eficácia do remdesivir.




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Coronavírus: por que alguns pacientes já recuperados voltam a ter teste positivo para covid-19, segundo OMS

Infectologista da organização explica que células mortas expelidas do pulmão fazem exames darem positivo mais de uma vez — mas não necessariamente quer dizer que a pessoa voltou a ficar infectada pelo coronavírus.




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O sul-coreano que dá abrigo e aula em casa para 10 meninos que fugiram da Coreia do Norte

Kim Tae- hoon, de 45 anos, cuida de 10 meninos norte-coreanos que desertaram do regime repressivo de Pyongyang sem seus pais; o mais novo tem apenas 10 anos e o mais velho, 22.




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Coronavírus: as lições dos países que estão saindo do isolamento

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Coronavírus: 'O presidente revelou meu diagnóstico de covid-19 ao vivo na TV'

Sita Tyasutami foi identificada como a 'paciente zero' da doença na Indonésia.




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Coronavírus: 'Países vão ter que se endividar para salvar o emprego e a vida das pessoas', diz presidente do BID

Para Luis Alberto Moreno, pandemia deixou ainda mais evidente a desigualdade da América Latina e mostrou necessidade de se investir na saúde pública regional.