Venture firm opening Indy office to target the overlooked
Cincinnati-based Lightship Capital is opening an Indianapolis-area office within three months to provide underrepresented entrepreneurs here access to a $50 million investment fund.
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Federal Reserve expands lending program to not-for-profit groups
The Fed said Friday that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to not-for-profits with at least 10 employees and endowments of less than $3 billion.
Wall Street rebounds after another yo-yo day of trading
The market’s latest moves came as earnings reporting season kicked off. Like the broader market, financial stocks drifted between gains and losses for much of the day before turning higher in the afternoon.
Banks set aside billions, bracing for more economic pain
The results from JPMorgan Chase, Wells Fargo and Citigroup on Tuesday offer perhaps the broadest glimpse yet into how badly the pandemic is affecting the financial health of American consumers and businesses.
Millennial Money: 4 expert tips to get hired from home
The interview process could be mostly, or entirely, virtual—even if the job itself isn’t slated to be. Standard interview advice still applies: Dress professionally, ask smart questions and so on. But you should also adopt a few new best practices.
Fed buys more corporate bonds, but might soon end purchases
The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds.
U.S. consumers reduced borrowing by $18.3B in May
May’s decline marked the first time in a decade that overall consumer borrowing has fallen for three straight months.
Search the PPP list: Indiana colleges, not-for-profits, small and big firms receive loans
In Indiana, more than 90% of federal loans topping $150,000 went to companies, according to the Treasury Department data. About 6% of the loans went to not-for-profit organizations.
Nasdaq hits record as U.S. stocks join global rally
The S&P 500 index posted its fifth straight increase, its longest winning streak since December, as Amazon.com Inc. shares rose past $3,000 for the first time.
Two dozen Indianapolis companies received PPP loans of at least $5M
In all, the list includes 2,499 Indianapolis entities and 11,853 entities statewide that received Paycheck Protection Program loans of $150,000 or more. The list includes the Indianapolis Business Journal, which received a loan of between $350,000 and $1 million.
Senate reaches deal to extend Paycheck Protection Program
Prospects for the legislation in the House, however, were uncertain. Both chambers are set to adjourn for a two-week recess by week’s end.
Billions of dollars in aid for small businesses go unclaimed
Business owners and advocacy groups complain that the money in the Paycheck Protection Program has not fully put to work because the program created obstacles that stopped countless small businesses from applying.
Fed’s program for loaning to Main Street off to slow start
Fed officials say more than 200 banks have signed up to participate since the program began two weeks ago, but that’s a small slice of the nation’s roughly 5,000 lenders. None have made any loans yet.
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.
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.