Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.

Cummins could release quarterly earnings report Tuesday

The Columbus-based engine company has been interesting to watch in recent years as its business in China was hurt by coronavirus restrictions. Cummins is also impacted by rising diesel costs.

Company executives recently reiterated their support of the CHIPS Act, recently passed in Congress, to build computer chips in the U.S.

Simon: Strong occupancy rate in malls

Simon Property Group reports strong occupancy in its malls and is raising its projections for this year.
But, at the same time, Simon says that some of the retailers it owns stakes in are seeing sales soften as consumers cut down on discretionary spending to buy necessities such as gasoline and groceries.

CEO David Simon says inflation is starting to affect J.C. Penney, which it co-owns with Brookfield Asset Management.

U.S. manufacturing expanded at its slowest rate in two years

U.S. manufacturing expanded at the slowest pace in two years.

The figures highlight softer demand for merchandise as the economy struggles for momentum.

Starbucks union: Increase pay and benefits at unionized store

The Starbucks union is asking the coffee giant to extend pay hikes and benefits to unionized stores.

In May, the coffee chain announced it would raise wages for workers at nonunionized stores.

The company said it is unable to make changes at organized stores without bargaining.

Mexican Pizza becomes permanent Taco Bell menu item (again)

Taco Bell is bringing back the Mexican Pizza for good.

Mark King, CEO of Taco Bell Corp., says the fan-favorite item will be relaunched in mid-September and will become a permanent menu item.

The Mexican Pizza sold out quickly when it was brought back in May.