Apple warns China virus will cut iPhone production, sales
The tech giant is warning investors that it won’t meet its second-quarter financial guidance because of the viral outbreak.
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Woman allegedly embezzled $327K from her employer
An eastern Indiana woman who seemed upset when her employer offered her a promotion is now accused of embezzling more than $327,000 from the business following an audit by suspicious company officials.
401(k)s hit records as workers sock away more, stocks jump
Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. But workers’ better savings habits also played a big role.
McDonald steps down as ClearObject CEO to join venture fund
John McDonald said he’s taking a position with Boomerang Ventures to become more involved in the state’s startup ecosystem.
Fed chair: Economy looks resilient despite risk of China virus
Jerome Powell told Congress on Tuesday that the Fed is monitoring developments stemming from the coronavirus, which he said “could lead to disruptions in China that spill over to the rest of the global economy.”
Stocks rise to records despite fears over virus from China
Health experts don’t know how far the virus will spread and how bad the crisis will get, yet stocks are rallying as if investors are expecting no more than a modest hit to the global economy.
Tech companies lead U.S. stock rally following global gains
Technology companies and banks led a broad rally for U.S. stocks in midday trading Tuesday following solid gains overseas as China took more steps to soften the financial impact of the virus outbreak.
Stocks rise on Wall Street, but China’s main market dives
Technology companies led U.S. stocks higher in midday trading Monday as global markets mostly calmed down following a sharp sell-off last week over worries about the spreading virus outbreak in China.
China readies cushion for virus shock when markets re-open
China’s central bank announced plans Sunday to inject 1.2 trillion yuan (about $173 billion) into the economy to cushion the shock to financial markets from the outbreak of the new virus when trading resumes Monday.
Federal Reserve proposes letting banks invest in venture capital funds
The draft rule approved by the Federal Reserve would exempt venture capital funds from the Volcker Rule’s provision that bars banks from investing in hedge or private equity funds.
Survey: University investments saw slower growth in 2019
Most U.S. universities made money on their financial investments last year, but their returns were tempered by a global economic slowdown fueled by America’s trade war with China, according to an annual survey of school finance chiefs.
Fed leaves key rate unchanged at low level amid global risks
The Federal Reserve sketched a mostly positive picture of the U.S. economy after its latest policy meeting. It also repeated its pledge to “monitor” the world economy, which may be held back in the coming months by China’s viral outbreak.
U.S. stocks tumble amid global sell-off on fear of coronavirus
Chinese health authorities have confirmed 2,750 cases of the coronavirus along with 81 related deaths as authorities extended a week-long public holiday by an extra three days as a precaution against having the virus spread still further.
Fewer Hoosier firms opting to go public, as allure of mergers, private capital grows
The number of publicly traded Indiana companies has fallen by more than half since 1990.
Somerset launches cloud company with big ambitions
Indianapolis-based accounting firm Somerset CPAs said its new tech company, Somerset Cloud, is on a path to go national.
Dow Jones industrial average closes above 29,000 for first time
The milestones came on a day when the market traded in a narrow range as investors weighed the latest batch of corporate earnings reports and the signing of an initial trade deal between the U.S. and China.
Investing experts temper expectations for 2020
Investors couldn’t have asked for much more in 2019, as the decade-long economic expansion rolled on. But don’t expect the same in 2020, analysts warn.
Former city controller Qaddoura takes gig at Katz Sapper & Miller
The position was created for former City of Indianapolis Controller Fady Qaddoura, who announced in November that he was leaving his job with the city, where he had worked for four years.
Warren’s new bankruptcy plan could spark a clash with Biden
Sen. Elizabeth Warren is promising to remake the nation’s consumer bankruptcy system if elected president, returning to her political roots while also potentially picking a fight with a top rival for the Democratic nomination, former Vice President Joe Biden.
Presidential candidate Sen. Elizabeth Warren and on Tuesday unveiled a plan she said would make the process of declaring bankruptcy easier and cheaper for many Americans with debts they can’t pay.
Trump likely to sign bill that makes big changes to how Americans save for retirement
The bill, which President Trump is expected to sign, is widely considered the biggest piece of retirement legislation since the Pension Protection Act of 2006.