Lawmakers facing off with GameStop saga’s key players
The episode has been portrayed as a victory of the little guy over Wall Street titans, but not everyone is buying it. Lawmakers from both parties are among the skeptics.
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Federal ban on housing foreclosures extended until June 30
The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on March 31. Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments.
Wall Street regulators signal tougher approach to industry after GameStop frenzy
Attorneys in the Justice Department’s criminal division are conducting a wide-ranging investigation into possible market manipulation from the trading surrounding GameStop, and recently issued a subpoena to Robinhood as part of that, a person familiar with the matter said.
Health equipment biz Apria moves HQ to Indy, lists stock with IPO
Apria Inc., one of the nation’s largest providers of home health equipment and services, began listing shares Thursday morning on the Nasdaq exchange.
Dow hits another record in up-and-down day of trading
Treasury yields fell after a government report showed that inflation remained tame last month. That’s encouraging for investors because it suggests the U.S. economy will be able to receive more stimulus without overheating.
Powell stresses commitment to full employment, low rates
Federal Reserve Chairman Jerome Powell on Wednesday underscored the Fed’s commitment to reducing unemployment to multi-decade lows, while signaling little concern about the risk of potentially high inflation or financial market instability.
Indiana lawmakers take next step to require FAFSA submission
A bill that would require students at public schools to complete the Free Application for Federal Student Aid advanced to the Indiana House after lawmakers approved the measure in a Senate vote Tuesday.
Lilly CFO resigns after ‘inappropriate personal relationship’ with employee
Joshua Smiley, who was Lilly’s second-highest-paid employee, was named CFO in January 2018. Lilly said Smiley also engaged in “inappropriate personal communications” with other employees.
Fishers raw materials firm says ‘blank check’ company seeking to raise $100M
American Resources Corp. is the latest central Indiana firm to jump on the “blank-check company’ bandwagon—forming a shell company that uses public offering proceeds to scoop up an acquisition target.
Laikin’s second SPAC IPO has strong trading debut
Novus Capital Corp. II raised $250 million, capital it plans to plow into the purchase of a company or companies in the “smart technology innovations” market.
Simon Property seeks to raise $300M with blank check company filing
Simon Property Chairman and CEO David Simon will serve as chairman of the special purpose acquisition company. His 33-year-old son, Eli Simon, senior vice president of corporate investments at Simon Property, will be its CEO.
Online traders power up silver as GameStop retreats
U.S. stocks—which tumbled last week amid anxiety over the frenzied trading that’s being cheered on by the Reddit forum WallStreetBets and other online communities—turned things around on Monday.
GameStop stock soars again while Wall Street bends under the pressure
The stock market sank again Friday as a speculative frenzy over GameStop and a handful of other stocks ramped up worries over how much damage an online revolt against Wall Street bigwigs can damage the broader market.
Dealmaking activities have largely moved online for social distancing. Will the new habits stick?
Since the pandemic has shifted many of these interactions online, local dealmakers say they feel the loss of assessing non-verbal cues and interactions among members of a management team as they decide whether to acquire companies or invest in startups.
Brokerages limit trading in GameStop, sparking outcry from small investors
Robinhood and other retail brokerages took steps to tamp down the speculative frenzy surrounding companies such as GameStop, but the actions only sparked more volatility in the market and an outcry from users of the platforms.
In war over GameStop, big funds yield to smaller investors
Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it’s become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%.
Third round of PPP lending tops $35 billion as SBA irons out glitches
The government’s new phased approach to distributing the $284 billion in recently allocated Paycheck Protection Program, or PPP, funds means it’s unlikely that the money will run out, which it did in April.
Supreme Court clears attorney Mackey in discipline case involving fraudster’s ex-wife
The order concluded a more than year-long disciplinary case involving Larry Mackey’s relationship with the ex-wife of a former client, Fishers hedge fund executive Keenan Hauke of Samex Capital Partners.
Report: Steak n Shake hires adviser to help it navigate debt morass
FTI Consulting will work with the Indianapolis-based company as it explores a possible out-of-court restructuring of its debt and lease obligations or a bankruptcy filing, The Wall Street Journal reported.
First Internet Bank reports record quarterly, annual profits
Fishers-based First Internet saw its stock price climb to a one-year high in after-hours trading after the bank released its financial report Wednesday.