Celadon lines up $165M in new financing, to replace aging fleet
Celadon CEO Paul Svindland said the financing would provide “a solid platform for the next stage of our business turnaround.”
Banking & Finance
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Federal Reserve poised to cut rates for first time in decade
Under Chairman Jerome Powell, the Fed has faced pressure to ease credit since it raised its key rate in December for the fourth time in 2018 and hinted that additional rate increases were likely this year.
Arrest made after massive Capital One data breach
A hacker gained access to personal information from more than 100 million Capital One credit applications, the bank said Monday as federal authorities arrested a suspect in the case.
Equifax to pay up to $700M in data breach settlement
The settlement with the U.S. Consumer Financial Protection Bureau and the Federal Trade Commission, as well as 48 states and the District of Columbia and Puerto Rico, would provide up to $425 million in monetary relief to consumers and a $100 million civil money penalty.
White House hopeful Warren pitches new private equity constraints
Elizabeth Warren’s plan, the latest in a series of policy ideas that have propelled the Massachusetts senator to the top tier of the 2020 Democratic presidential primary field, would hold private equity firms liable for debts and pension promises made by the companies they acquire.
Facebook’s currency plan gets hostile reception in Congress
Members of both parties demanded to know why a company with massive market power and a track record of scandals should be trusted with such a far-reaching project, given the potential for fraud, abuse and criminal activity.
Facebook says Libra won’t launch until regulators satisfied
Facebook has said it’s eyeing next year for the launch of Libra, which has drawn the ire of skeptical lawmakers, Federal Reserve Chairman Jerome Powell and President Donald Trump.
IBJ Podcast: Pete the Planner on the magic of a 15-year mortgage
Peter Dunn talks to guest host Lesley Weidenbener about all things home buying, including mortgages, determining how much house you can afford, why you shouldn’t put down less than 10% and why the idea of starter homes and family homes is silly.
Dow Jones industrials cross 27,000 points for first time
A turbulent day on Wall Street ended in the record books Thursday as the Dow Jones industrial average climbed above 27,000 for the first time and the Standard & Poor's 500 index hit another all-time high.
Powell signals that rate cut could be coming soon
Delivering the central bank’s semiannual report to Congress, Federal Reserve Chairman Jerome Powell said that since Fed officials met last month, “uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook.”
S&P 500, Dow industrials, NASDAQ close at record highs
Investors extended a rally through a holiday-shortened day and pushed major stock indexes to record highs on Wednesday.
Marketing software firm Perq raises $6 million in capitals
The most recent funding is expected to fuel the growth of Perq’s artificial intelligence-driven marketing cloud for big-ticket retailers, company officials said.
KAR leader Hallett ‘extremely happy’ with spinoff of IAA business unit
The separation of KAR Auction Services and Insurance Auto Auctions is already creating shareholder value, CEO Jim Hallett said.
East-side not-for-profit plans $9 million, 51-apartment mixed-use project
To be known as St. Lucas Lofts, the project proposed by Englewood Community Development Corp. would include at least 10 units designated for individuals who are recovering from homelessness.
S&P 500 hits all-time as U.S.-China trade truce spurs optimism
The broad rally came after the world's two biggest economies agreed over the weekend to resume negotiations.
Local investment adviser loses state insurance license
The owner of Pendleton-based Steele Financial Inc., who is already in hot water with the Financial Industry Regulatory Authority and the SEC, has been stripped of her license by the Indiana Department of Insurance.
Worker pension plan lawsuits draw review from U.S. Supreme Court
The U.S. Supreme Court agreed to consider giving workers who participate in pension plans more ability to sue when they believe the money is being mismanaged.
Ball State’s downtown branch on the move; bank branch stepping in
Ball State University has vacated its Indianapolis Center at the corner of South Meridian and East Maryland streets, where it has been for 13 years. A bank that’s been embroiled in a legal battle with its landlord is making plans to move its downtown branch to the space.
City’s poor often have few affordable options for banking, other financial services
Banking is more expensive for the people who most need it to be affordable, a reality that experts say plays a significant role in preventing many Hoosiers from snapping the cycle of poverty.
SteadyServ sold to largest creditor after no other bids
RBE Investments LLC, the company’s biggest secured creditor, made a nearly $5.8 million credit bid to purchase the seven-year-old company and its assets after a turnaround plan for the company failed.