Lilly invests $30M in new fund for minority health-care startups
The Indianapolis-based drugmaker said people from minority communities are frequently “unseen” by the U.S. health care system.
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Indianapolis credit union placed into conservatorship
The National Credit Union Administration says it took control of operations at Indianapolis’ Newspaper Federal Credit Union because of “unsafe and unsound practices.”
Powell signals Fed will keep aiding economy with bond buying
Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance.
Mortgage rates poised to rise as U.S. Treasury yields surge
Long-term bond yields, which can influence interest rates on mortgages and other consumer loans, are climbing this month amid expectations of higher U.S. government spending on pandemic relief and an economy recovery as more people get vaccinated for COVID-19.
Stocks notch modest gains on Wall Street
Banks and other financial companies added to recent gains as Treasury yields marched higher for the sixth straight day amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year.
Capital raises by state’s tech companies in 2020 far below 2019’s record mark
The amount of capital raised by state technology firms in 2020 was way down from the previous year, but local industry leaders say that shouldn’t be taken as bad news.
New law cracks down on shell companies to combat corruption
For the first time, shell companies will be required to provide the names of their owners or face stiff penalties and jail sentences. The information will be stored in a confidential database accessible to federal law enforcement and shared with banks.
It’s wise to be skeptical of 2021 market forecasts
If anything, 2020 should have proven once and for all the futility of trying to make accurate market predictions.
Environmental, social and governance issues are shaping investment portfolios like never before
The approach now known as ESG investing has been around for decades, but it started to take off in Europe and the United States in late 2018 and early 2019.
Stocks hold on to modest gains, marking another Dow record
Stocks have been mostly grinding higher in recent weeks, with indexes setting new highs, amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic’s grip.
Mortgage rates slide to historic lows for third time this month
The 30-year fixed-rate average, the most popular mortgage product, sank to 2.66% with an average 0.7 point, according to the latest data released Thursday by Freddie Mac.
First Merchants to close 17 bank branch locations
The company said it would use the savings from the closures to beef up its digital banking and in-branch technology initiatives.
U.S. stock indexes climb on renewed hope for relief package
Wall Street is growing increasingly confident that Democratic and Republican lawmakers will clinch a bill based on a $748 billion bipartisan proposal that would inject cash directly into the economy as prior benefits begin to expire at the end of the year.
Huntington Bancshares to acquire TCF Financial in $6B deal
The merger announced Monday will boost Columbus, Ohio-based Huntington’s assets to about $168 billion, nudging it closer to regional competitors Fifth Third Bancorp and KeyCorp.
Blockbuster IPO market still calls for cautious approach
Wall Street has rolled out the welcome mat for companies going public this year, boosting proceeds from initial public offerings to the highest level in six years.
High court takes on Fannie Mae, Freddie Mac presidential power case
The case could mean undoing an agreement between the mortgage giants and the government that has sent about $246 billion in their profits to the Treasury. That was compensation for the taxpayer bailout they received after the 2007 housing market crash.
Americans keeping up with credit card bills, but for how long?
For some, however, the ability to keep buying things with plastic and then pay the bill likely depends on whether current negotiations in Washington, D.C., produce another round of economic aid.
More than half of PPP funds went to larger businesses, new data show
According to data on the government’s Paycheck Protection Program, about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million.
Education secretary bashes student debt forgiveness, free-college movement
Education Secretary Betsy DeVos is taking shots at student debt cancellation and tuition-free college proposals, hallmarks of President-elect Joe Biden’s agenda for higher education.
Nasdaq seeks mandatory rule on board diversity for listed companies
The proposal filed with the U.S. Securities and Exchange Commission on Tuesday, if approved, would require all companies listed on the exchange to publicly disclose consistent, transparent diversity statistics about their board of directors.