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.
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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.
Powell reiterates stronger case for cut amid economic risks
Federal Reserve Chairman Jerome Powell said that the downside risks to the U.S. economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates.
Local investment adviser facing lawsuit over soured business deal
In the lawsuit, a Pendleton financial adviser says he purchased client accounts from a fellow adviser who then defamed him and persuaded some of those clients to move their money elsewhere.
Fed leaves its key rate unchanged but hints of future cuts
In its statement Wednesday, the Fed removed a reference to being “patient” about adjusting rates. That suggested that the Fed is now inclined to begin cutting rates for the first time in more than a decade. It remains unclear when that might happen.
Company that proposed Carmel event center accused of fraud in federal suit
A small group of retirees paid a combined $6.2 million last year for stakes in a proposed event center in Carmel that never was built. The investors claim they were duped in a vast fraud involving financial advisers, a property broker and a bankrupt company called Noah Corp.
Facebook currency Libra faces financial, privacy pushback
Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners.
Fed likely to leave rates alone but signal readiness to cut
Economists say when—or even whether—the Fed eases credit this year will depend on a host of factors that are hard to predict.
Trump says he plans to keep criticizing Fed over rates
President Donald Trump said he thinks economic growth and stock market indexes would be substantially higher if the Federal Reserve hadn’t raised interest rates so much.
First Merchants Bank settles federal lawsuit alleging redlining
According to the complaint, First Merchants “engaged in unlawful redlining in Indianapolis by intentionally avoiding predominantly African-American neighborhoods because of the race of the people living in those neighborhoods.”
City to unleash millions in tax credits for ‘signature’ projects
The city of Indianapolis is set to receive $55 million in New Markets Tax Credits from the U.S. Department of the Treasury, which it will use to finance high-impact projects in low-income or distressed areas.
DePauw grants $1M from endowment to student investment group
For most of the school year, the DePauw Investment Group oversaw only about $160,000. But the stakes skyrocketed in April when DePauw’s board of trustees added $1 million from the university’s $731 million endowment.
High Alpha portfolio firm Anvl raises $2M in seed funding
Anvl plans to use the funds to grow its platform and hire employees in sales, services, engineering and marketing, company officials said.