Old National buying 24 branches from Bank of America
Bank of America Corp. plans to sell 24 branches in northern Indiana and southwest Michigan with about $779 million in deposits to Old National Bancorp.
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WellPoint draws criticism for California rate increase
WellPoint Inc.’s plan to raise the rates for small employers in California was criticized as unreasonable by the state insurance commissioner, who said customers are being charged this year to cover U.S. health-law fees that won’t begin until 2014.
Big drug deals expected to return in 2013
Pharmaceutical companies including Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly and Co. could be ready to start making major acquisitions again.
Pennsylvania to sue NCAA over Sandusky-related penalty
Pennsylvania Gov. Tom Corbett said he will sue the Indianapolis-based National Collegiate Athletic Association, challenging a $60 million fine levied against Penn State University for its role in the Jerry Sandusky sex-abuse scandal.
Indy airport braced to host stranded passengers
Indianapolis International Airport officials are prepared to provide hundreds of stranded passengers with something to sleep on, and restaurants will stay open late to serve them.
Home seizures by banks rise in Indiana, nationally
Home repossessions rose in 29 states and the District of Columbia in November, led by an increase of 96 percent in Indiana. However, the number of homes starting on the path to foreclosure declined to the lowest level in six years.
Lilly discontinues late-stage trial in rheumatoid arthritis
Eli Lilly and Co. said it discontinued a last-stage trial of experimental rheumatoid arthritis drug tabalumab for lack of efficacy. Lilly is still evaluating the drug in the two other late-stage studies.
Simon’s Rushmore Mall loan sent to servicer, Fitch says
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
Lilly notifies Canada about NAFTA complaint on Strattera patent
Eli Lilly and Co. notified Canada it plans to file a trade complaint, claiming court decisions invalidating one of the company’s patents breach international obligations.
Subaru still considering Indiana plant expansion
Fuji Heavy Industries Ltd.’s Subaru unit is studying whether to expand its Indiana auto-assembly plant as the Toyota Motor Corp. affiliate seeks to boost U.S. output to curb currency losses and meet growing demand for its models.
Rogers to leave Duke under settlement with regulators
The settlement, which lays out a series of executive changes and employment and financial concessions, represents a rebuke to the company’s boardroom coup.
Lilly chief says China too slow in approving new drugs
China takes eight years longer on average to approve drugs than other major countries, and U.S. drugmakers are looking at ways to help speed things up, Eli Lilly and Co. CEO John Lechleiter said.
Drought no obstacle to record income for U.S. farms
Even after the worst drought in a half-century shriveled crops from Ohio to Nebraska, U.S. farmers are having their most-profitable year ever because of record- high prices and insurance claims.
Rutgers follows Maryland to Big Ten, leaving Big East
Rutgers University is moving to the Big Ten Conference, ending a more than two-decade affiliation with the Big East as it looks to strengthen its athletic, financial and academic standing.
Hope for Hostess? Judge pushes sides into mediation
Hostess Brands Inc. will hold talks with its bakery workers’ union on Tuesday to explore the reasons for a strike that the maker of Twinkies and Wonder bread said will force it to liquidate.
States gain delay on deadline for health-law marketplaces
States received an extra month from the Obama administration to decide whether to build online marketplaces for medical insurance after Republican governors pressed their resistance to the president’s health-care law.
Hostess to close all plants, fire thousands of workers
Hostess Brands Inc. said Friday it will close all of its plants, leading to the loss of hundreds of jobs in Indiana and thousands more nationwide. The company employs 288 in Indianapolis.
Bureaucratic growth draws ire at Purdue, other universities
Administrative costs on college campuses are soaring, crowding out instruction at a time of skyrocketing tuition and $1 trillion in outstanding student loans. At Purdue, bureaucratic growth is pitting professors against administrators.
KAR stock falls after private-equity deal reported dead
KAR Auction Services Inc. stock took its biggest daily drop in more than three months Tuesday after Reuters reported the provider of wholesale vehicle auction services ended talks to sell itself to private-equity firm Clayton Dubilier & Rice LLC.
WellPoint shares droop despite profitable quarter
WellPoint Inc.'s third-quarter earnings trumped Wall Street expectations, but the health insurer's stock tumbled Wednesday after President Barack Obama won re-election, a victory that could help cement the future of his health care overhaul.