JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.
Four principals and about a dozen other staff accountants and support staff at Meridian will join Somerset in August. Somerset is Indianapolis’ seventh-largest accounting firm, based on the number of local full-time employees.
A publicly traded real estate investment trust has agreed to pay $201 million for the tallest building in Indiana, a price that could give a boost to the local investment market.
Event organizers say Wall Street isn’t the only place to drum up interest in stocks.
More than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent increase in foreclosure activity.
Old National Bancorp has appointed former Indiana Chief Justice Randall Shepard to its board of directors.
The lawsuit accuses convicted money manager Keenan Hauke’s former accounting firm of negligence for failing to monitor Hauke’s bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
The operator of Indiana Grand Casino and Indiana Downs horseracing track in Shelbyville has reached a $3.5 million settlement with the property’s former manager, The Cordish Co., that helps pave the way for its reorganization.
Hofmeister Personal Jewelers Inc. plans to pay off its creditors over seven years as part of the well-known Indianapolis retailer’s bankruptcy restructuring.
Bob Laikin started BrightPoint in 1989, when cellular phones were clunky and brick-like and were mostly for the wealthy.
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
Fourth of July enthusiasts who ignite personal fireworks despite bans in their counties may not be covered by insurance if their fireworks cause any damage.
Secretary of State Connie Lawson said the new provisions will help her office provide better protection to investors.
Jeff Smulyan has been considering a new plan to buy out other Emmis Communications Corp. shareholders—a deal that could clear the way for him to finally take the Indianapolis media company private. But Emmis’ founder and CEO insists he has no plans to do so.
A study commission on tax-increment financing will vote Thursday evening on a set of policy recommendations that would limit the use of TIF districts in Indianapolis.
Corn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
The state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company announced this week.
Bank of Montreal’s 2011 acquisition of Marshall & Ilsley Corp. is finally helping it make in-roads in the U.S. Midwest. It has identified five U.S. markets, including Indianapolis, where it aims to add new branches or make acquisitions.
A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
