Things to watch for from the Federal Reserve on Wednesday
Chairman Jerome Powell will begin a new era of communications by holding a news conference after each of the Fed's eight meetings every year, up from four news conferences a year.
Banking & Finance
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Fed likely to send reassuring note of patience on rate hikes
With pressures on the U.S. economy rising, the Federal Reserve has been signaling that it’s in no hurry to resume raising rates after having done so four times in 2018.
Local venture firm invests $2.5M in company that makes food from waste
Renewal Mill is the first announced recipient of funding from HG Ventures, the venture capital arm launched last year by the Indianapolis-based Heritage Group.
Lack of disclosed price kept these deals off the list
Here are notable Indianapolis-area mergers and acquisitions that closed in 2018 for which financial details were not available.
Matthew Neff: What is the difference between venture capital, private equity?
Venture capital focuses generally on companies that are either pre-revenue (a company pursuing an idea, concept, product, service, etc., but not yet generating any significant revenue), or not generating enough cash flow to pay most, if not all, expenses.
Hoosier companies see big surge in venture capital investment
Venture capital raised by Indiana companies more than doubled in 2018 compared with 2017’s total, according to the latest report by PitchBook-NVCA Venture Monitor.
Leading bank executive predicts another round of U.S. bank mergers
Industry executives have long predicted a wave of bank mergers that’s so far played out only in smaller or mid-sized deals.
From travel to IPOs, here’s how shutdown is upsetting U.S. economy
Delta Air Lines can’t get eight new aircraft in the air. Roughly a million government employees and contractors aren’t being paid. Some Americans who are trying to start small businesses face delays in obtaining information from the IRS.
Cash rules as stocks, bonds waver
The steady-and-not-so-slow-anymore returns for cash, plus expectations for even more market volatility in 2019, means strategists along Wall Street are seeing cash as a viable investment option for the first time in years.
Prosecutors want 6-1/2 year sentence for former Merrill Lynch adviser Thomas Buck
Merrill Lynch terminated Buck in 2015, citing “loss of confidence” in him after 34 years at the firm.
Local accounting firm sanctioned by feds, pays $102K penalty
The U.S. Securities and Exchange Commission has accepted settlement offers from Katz, Sapper & Miller—the area's largest locally based accounting firm—and one of its partners for what the SEC described as "improper professional conduct."
Investment experts: Don’t panic; look for opportunities
It’s not clear whether the bull or the bear will prevail in 2019, so financial planners are counseling clients to expect volatility and take advantage of it, if that meets their long-term strategies.
Indy-based accounting firm Umbaugh to be acquired in three-way deal
Chicago-based firm Baker Tilly plans to acquire Indianapolis-based Umbaugh and a Minnesota-based firm in a three-way deal that will build one of the nation’s largest municipal finance advisory firms.
Fed minutes: Growing risks make rate hike path less clear
Federal Reserve officials expressed increasing worries when they met last month, as they grappled with volatile stock markets, trade tensions and uncertain global growth.
Allos Ventures raises $40 million for latest investment fund
The new fund, Allos officials said, will continue the firm’s focus on investments in early-stage business-to-business software and tech-enabled service companies based in the Midwest. Allos has already made its first investment with the fund.
Stocks soar as Powell, hiring numbers reinvigorate market
Stocks skyrocketed Friday after investors got good news on the economy, Federal Reserve policy and trade tensions.
Powell pledges flexible rate policy, won’t quit if Trump asks him
Federal Reserve Chairman Jerome Powell said the central bank can be patient as it assesses risks to a U.S. economy and will adjust policy quickly if needed.
Stocks dive after Apple warns of slowdown in iPhone sales
Stocks tumbled Thursday on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales are slumping.
Apple drops iPhone bombshell on already-reeling stock market
Apple acknowledged that demand for iPhones is waning, confirming investor fears that the company's most profitable product has lost some of its luster.
Big pharma stocks among top performers in 2018
Pharmaceutical giants Merck & Co. and Pfizer Inc. were kings of the Dow Jones industrial index during the year, while Eli Lilly and Co. was among the 20 largest gainers on the S&P 500.