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Fed might set plan to buy bonds

The Federal Reserve may be preparing to take further steps to stimulate an economy that remains too weak to reduce high unemployment.

Minutes of the Fed’s Oct. 23-24 meeting released Wednesday suggest that it might unveil a bond buying program in December to replace a program that expires at year’s end.

The bond purchases would be intended to lower long-term borrowing rates to encourage spending and strengthen the economy.

Panasonic plans to cut 8,000 jobs amid losses

Panasonic Corp., the Japanese TV maker predicting a second consecutive annual loss, plans to cut 8,000 jobs in the second half of the current fiscal year as it restructures amid falling demand and a rising yen.

The company, which eliminated 8,871 jobs in the six months ended Sept. 30, is planning further cuts by March 31 to speed up the reforms, a Tokyo-based spokesman said by phone Wednesday.

The company, which forecast an annual loss of $9.6 billion, has eliminated almost 39,000 jobs in the past year.

Project raising cash for new businesses

The Northeast Indiana Regional Partnership on Wednesday announced the launch of REAP – Regional Entrepreneurship Action Plan.

The program aims to support innovation and entrepreneurial activity throughout northern Indiana. The Regional Partnership is leading local fundraising efforts for REAP as the group tries to raise $1 million in three years.

The REAP initiative is led by Indianapolis-based Elevate Ventures, a nonprofit organization that provides resources to startups. The goal is to raise $200 million in investments; create or retain more than 3,000 jobs during a three-year period; and serve about 160 promising startups throughout northern Indiana.

Local home prices fall 5% in October

Fort Wayne was the 69th most-searched market in the nation last month among 146 metro areas, based on data that released Wednesday.

The website, run by the National Association of Realtors, also said Fort Wayne’s median list price for homes in October decreased 5.4 percent to $104,000, compared with the same month a year ago. The national median list price remained flat at $189,900.

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