Dow Jones & Co., which publishes The Wall Street Journal, has been offered $60 per share by News Corp., the company controlled by media baron Rupert Murdoch, according to CNBC. News Corp. is planning a business news channel to compete with other broadcasters. Dow Jones shares almost tripled this morning on the news, rising from […]
Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co., has bought some assets of Maize Technologies International of Neusiedl am See, Austria, for an undisclosed price. Dow AgroSciences anticipates using Maize Technologies’ genetics to improve corn grown in short seasons in Europe and the United States. Local employment will not be affected by the […]
A deal that fell through a year ago is back on the table for Standard Management Corp. The Indianapolis company, which sells pharmaceuticals to nursing homes, said today it has agreed to buy In-House Pharmacies Inc. of San Diego—this time through its newly formed unit Universal Healthcare Co. LLC. Terms were not disclosed today or […]
Eli Lilly and Co. became the first drug company to make public its grants to U.S. organizations by posting the records on its Web site today. Most of the grants focus on endocrinology, neurosciences, oncology and other areas where Lilly develops drugs. The largest in the first quarter was to Massachusetts General Hospital’s Department of […]
Zimmer Holdings Inc. has named David Dvorak as CEO to replace Ray Elliott, who is retiring in the first half of this year but will remain as chairman. Dvorak, 43, was group president of the Warsaw orthopedics company’s global businesses and chief legal officer. He has been with Zimmer for six years.
Wabash National Corp., the Lafayette-based manufacturer of semi-truck trailers, said profit in the first quarter slid to $1 million from $4.3 million a year earlier. Customers still seek quotes, but they follow through by placing orders less frequently because they’re “monitoring economic conditions,” Wabash said.
Stock in Cummins Inc. shot up as much as 24.7 percent this morning following a positive first-quarter earnings report. At noon, the shares had settled retreated from a peak of $107 to near $100—still a huge run-up compared to yesterday’s closing price of $85.99.. The Columbus, Ind., diesel engine maker said profit rose 5.9 percent, […]
Chicago south-siders are riled that the discounts they enjoy driving the Indiana Toll Road are scheduled to vanish in June, while discounts Indiana residents receive for driving on the Illinois leg of the highway will continue. The General Assembly last year gave holders of Indiana’s I-Zoom passes a 40-percent discount until 2016 when it approved […]
Pernod Ricard USA, the French owner of a 150-year-old distillery and bottling plant in the southeast Indiana city of Lawrenceburg, has notified the state that it will lay off 405 workers by June 26. Details were not immediately available. Dearborn County Commissioner Jeff Hughes said he had not heard about the layoff. The plant distills […]
Alliance for Cooperative Energy Services announced today that it will add 25 jobs to the 113 employed at its Carmel headquarters and spend $4 million to update equipment. Fifteen electric power cooperatives own the wholesale energy risk management and transaction executive firm, which was founded in 1999. The state is giving ACES up to $188,000 […]
First-quarter profit fell nearly 8 percent, to $113 million, for Indianapolis-based Simon Property Group because it no longer derives income from Mall of America, the Minnesota location it sold last year. However, funds from operations, a common measure of real estate investment trusts like Simon, increased 9.3 percent to $392.4 million.
Columbus diesel engine maker Cummins Inc. today reported a 5.9-percent increase in first-quarter profit from the same period a year ago. The $143 million in net income was driven mostly by its electrical power generation and distribution business. Sales of engines for heavy trucks declined due to trucking firms’ stocking up on trucks before new […]
Too many academic programs with too few students are diluting Indiana State University resources, its trustees believe. So, the board is following through on a plan to cut the number of programs to about 150 from the current 214, according to The Tribune-Star of Terre Haute. A review found that half of the programs attract […]
About 15 of the 44 employees at Pearson McMahon Fletcher England will lose jobs by the end of June due to a decision by the Indianapolis advertising firm not to pursue a renewal of its long-time HH Gregg account. Included in the 15 are Executive Vice President Larry Fletcher and Chief Financial Officer Terri Brown, […]
Indiana led the Midwest in venture capital received by health care startups in the first quarter, according to BioEnterprise, a Cleveland group that helps bioscience companies. Four Indiana health care companies lured $94.5 million in the period. Targanta Therapeutics Corp., an Indianapolis company developing antibacterial agents, raised $70 million of the sum. Following Indiana was […]
A long-expected announcement that IBM will locate a call center in Daleville is being scheduled for Monday. The building, formerly owned by Burlington Motor Carriers, will host as many as 500 workers, according to The Star Press of Muncie. The center is thought to handle calls from IBM business customers.
Harman International Industries Inc. has agreed to be acquired by two private equity firms for about $8 billion. Harman/Becker Automotive Systems, a car audio manufacturing unit of the Washington D.C.-based company, is located in Martinsville, where it employs about 500. The plant in February said it would cut about 84 jobs because it is moving […]
Stock in ITT Educational Services Inc. shot up 8.4 percent this morning, to $91.80 a share, after reporting today that first-quarter profit rose 35 percent. The $27.6 million in net income came on a nearly 16-percent increase in revenue, to $204.2 million. The Carmel technology-oriented post-secondary school attributed the gains partly to improved student retention.
