Stocks rally on better-than-expected economic data
U.S. companies are providing reason for hope that an earnings recession may be less severe than some analysts expect.
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Money still available for PPP loans, but deadline looms
Indiana lenders had secured a total of $9.5 billion in Paycheck Protection Program loans for their borrowers as of Saturday, according to the Small Business Administration.
Indianapolis office manager lands 37-month sentence for embezzlement
A controller and office manager who worked for a local business consulting firm used the stolen funds to pay for a new Honda CRV, platinum jewelry and at least eight trips to a resort in Aruba.
Banks lead gains for stocks on Wall Street in jumpy trading
Financial companies led stocks broadly higher on Wall Street on Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.
Federal banking agencies ease Volcker Rule restrictions
The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.
Money: How ‘maximizers’ can cut decision-making angst
Our determination to make the optimal choice means we’re often plagued by buyer’s remorse as well as decision paralysis.
China deal ‘fully intact,’ Trump says after adviser roils markets
U.S. futures swung wildly as the remarks caused concern that the deal signed in January, which paused the trade war between world’s two largest economies, was in jeopardy.
Supreme Court rules SEC can recoup money in fraud cases
By an 8-1 vote, the justices ruled that the Securities and Exchange Commission can seek to recover the money through a process called disgorgement.
Treasury to provide more details on rescue loans, but watchdogs say not enough
A plan to disclose the names of small business owners who received $150,000 or more in forgivable loans was not enough for to provide a complete picture of how money was allocated.
Indiana 100: CNO investment chief says keep-it-simple approach works best
Eric Johnson leads a team with $25.3 billion in assets under management.
Armed with $100M, Novus Capital prowls for acquisition
The “blank check company”—formed to acquire one or more businesses and merge with them as a way to take those companies public—closed its funding round in May and is looking for a business to buy.
Powell: A stronger job market key to combating inequality
Federal Reserve Chairman Jerome Powell reiterated his belief that Congress must avoid withdrawing its own rescue efforts too quickly or else the most disadvantaged households would disproportionately suffer.
Banks snared in race conversation, confronted by bleak legacy
On the sidelines of protests, organizers are spreading the word about the role of banks in some of the worst chapters of U.S. history, from financing slaveholders to systemic discrimination in 20th century mortgage lending.
Fed moves to ensure companies can tap bond market for funds
The program will purchase existing bonds on the open market, as opposed to newly-issued debt. The announcement boosted the stock market, which was already rebounding from early losses.
House demands coronavirus loan info from Treasury, banks
In the 10 weeks after the Paycheck Protection Program was launched, the SBA says it has processed 4.5 million loans worth $511 billion. But it has yet to reveal the recipients of taxpayer aid.
Protective Insurance rejects investment group’s offer but will explore alternatives
An investment group led by finance-industry veterans V.J. Dowling and David Delaney owns 7% of Protective’s voting stock and had proposed buying the remainder for more than $44 million.
African Americans point to racial biases in economics
The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
Federal Reserve to keep providing aid, sees no rate hike through 2022
Chairman Jerome Powell stressed the Fed’s commitment to ultra-low borrowing rates for the foreseeable future. “We’re not thinking about raising rates,” he said. “We’re not even thinking about thinking about raising rates.”
Federal Reserve acts to broaden appeal of Main Street Lending Program
The Federal Reserve is expanding the range of companies that will qualify for its soon-to-begin Main Street Lending Program, in which the Fed will lend directly to individual companies for the first time since the Great Depression.
Dow jumps 829 points, Nasdaq hits intraday record on surprising jobs report
The S&P 500 jumped another 2.6% after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst of the recession may have already passed.