Feds say Fifth Third opened fake accounts like Wells Fargo
Fifth Third said it had already investigated the allegations and called the fraudulently opened accounts “a limited and historical event.”
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Dow drops 7.8% as crashing oil prices, virus fears slam markets
The Dow Jones industrial average on Monday suffered its steepest drop since the financial crisis of 2008.
UPDATE: Virus fears, crashing oil prices take toll on stock market
The steep drop followed similar falls in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new coronavirus.
STAR Bank debuts Monument Circle office
The bank is leasing a three-story, 12,500-square-foot space at 46 Monument Circle that formerly housed employees of Indianapolis Monthly.
Centerfield invests in California company
Centerfield provided debt and an equity co-investment to support The Courtney Group’s purchase of Tenacore.
World economy faces worst year since ’09 as virus fears grow
Just weeks since most economists bet the China-led slump would quickly reverse once the virus was contained, many are rethinking that optimism as swathes of Chinese factories stay shut and workers idled.
Mortgage brokers hiring like mad to handle demand as rates plunge
Executives at four of the nation’s 15 biggest mortgage lenders, already gearing up for a busy 2020, anticipate hiring thousands of employees this year to keep up with what they expect to be a flood of demand.
Anthem shares surge as stock market tries to claw back from recent losses
Health care stocks led the market’s spurt Wednesday after a strong performance by Joe Biden on Super Tuesday. Among the biggest gainers was Indianapolis-based health insurer Anthem Inc., with a stock surge of 13.4%.
Federal Reserve makes emergency rate cut in response to virus
U.S. stocks rebounded from an early fall Tuesday, then sank again, after the Federal Reserve made an emergency rate cut to help support the economy from the impact of the coronavirus outbreak.
U.S. stocks surge on hopes that central banks will address coronavirus fallout
Coming off Wall Street’s worst week since the 2008 financial crisis, the Dow Jones industrial average rose nearly 1,300 points, closing up 5.1%, its largest percentage gain since March 2009.
Fed ready to cut rates despite doubts that it can offset coronavirus effect
In question is how much effect rate cuts will actually have amid a health emergency that threatens to reduce both supply and demand in the economy.
Stocks sink again, leaving Wall Street with worst week since 2008
The market clawed back much of its intraday losses in the last 15 minutes of trading. Bond prices soared as investors sought safety, pushing yields to record lows.
Prominent exec pulled into wife’s legal woes
The trustee in former Banc-Serv CEO Kerri Agee’s bankruptcy is suing her husband, Indianapolis businessman Ben Crawford, in an effort to recoup more than $1.4 million.
Stocks fall on Wall Street, head for worst week since 2008
U.S. stock markets saw more major declines Friday morning. Traders have been growing increasingly certain that the Federal Reserve will be forced to cut interest rates to protect the economy, and soon.
Dow plunges 4.4%, as potential coronavirus cases in California escalate anxiety
The three major U.S. stock indexes now are in correction territory, a 10% reversal from recent highs.
Carmel-based Shepherd Financial fueling growth with acquisitions
Shepherd Financial LLC is planning to grow its workforce by 50 employees over the next five years, tripling its statewide staff, with a majority of those hires in Carmel.
Pete the Planner launches ‘affordable’ financial advice service
Peter Dunn has launched Hey Money, a financial help subscription service that targets “consumers who don’t yet have the wherewithal to hire a fee-based money adviser.”
Stocks sink, bonds soar on fears virus will stunt economy
The benchmark S&P 500 has lost 7.6% over the last four days, its worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since summer 2015.
TurboTax maker Intuit buying Credit Karma in $7.1B deal
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.
Dow drops more than 1,000 points as fear of virus threatens global economy
The selling wiped out all of the Dow Jones industrial average’s gains for the year. The major U.S. stock indexes all fell more than 3%.