BMO Harris Bank names new regional president
Chris Michalski will oversee the bank’s operations in four Midwestern states from his home base in Indianapolis.
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Kroger plans to widen Visa ban as premium-card fees hurt margins
Kroger Co., the biggest U.S. supermarket chain, plans to widen a ban on Visa Inc. credit cards. And the grocer hasn’t ruled out expanding the ban to include all of its stores.
KeyBank to close 16 branches in central Indiana
The Ohio-based bank says no employees will lose their jobs, and that the closures are part of a strategic shift to make bankers more nimble and meet the expectations of people accustomed to online transactions.
Powderkeg lands first round of growth funding
The funding round, the first for Indianapolis-based Powderkeg, was led by Elevate Ventures with participation from Stout Street Capital and tech entrepreneur and investor Scott McCorkle.
Flush with funding, Scale Computing chases ‘multibillion-dollar opportunity’
A partnership with Japanese personal-computer maker Lenovo—to be rolled out Feb. 25—and $34.8 million secured in October has the software firm poised for explosive growth.
Morgan Stanley’s Kathy Birk is a by-the-book ‘maverick’
When Kathy Birk retires next month as manager of Morgan Stanley’s local operations, she’ll achieve a rare milestone in a stressful industry where most people wash out or get fired first.
Security products company Allegion reports rising revenue, profit
The company, which is based in Ireland but has its Americas region headquarters in Carmel, reported a higher quarterly profit than analysts had expected.
Among 1 percent earners, where are all the women?
Women earn enough on their own to qualify for 1 percent status in just one of every 22 top-earning households, new research shows. The gap hasn’t narrowed for at least 20 years.
Report finds problems with student loan servicing, oversight
The nine companies and organizations tasked with servicing the accounts of the nation's 30 million student loan borrowers repeatedly failed to do their jobs properly over a period of years, a new report finds.
Tech seed fund relaunching with new management
Three new managing partners are bringing Gravity Ventures back to life and aim to have its new fund deployed within 18 months.
Indy startup Outpost Medicine draws in big money to develop drug therapies
For a startup that has raised an eye-popping $71 million in just three years, Outpost Medicine LLC likes to keep a low profile. The young company, which is developing drugs for urinary and gastrointestinal disorders, is headquartered in small, unmarked space at the Parkwood Crossing office complex on East 96th Street. It has issued only a […]
Former powerhouse investment broker Buck sentenced to more than 3 years in prison
The case against the former star Merrill Lynch broker centered on his practice of keeping clients in commission-based accounts even as the securities industry moved toward fee-based accounts, which in many cases were cheaper for clients.
Fed Chairman Powell doesn’t see elevated recession risks
Federal Reserve Chairman Jerome Powell said Tuesday that he doesn’t see signs of an economic downturn on the horizon.
U.S. colleges raise $47B in ninth straight record year
U.S. colleges raised $46.7 billion in the 12 months through June 2018 as the lengthy bull market for stocks helped spur contributions. Two Indiana universities were among the top 20 fundraisers.
Centier Bank names new Indy-area market president
Based in Merrillville, Centier has 61 banking centers throughout the state, including six in the Indianapolis area.
Eli Lilly negotiated its largest deal ever at breakneck speed
When the Indianapolis-based drug giant made its initial offer Dec. 20, it said it wanted to seal the deal before the J.P. Morgan Healthcare Conference, which ran Jan. 7-10 in San Francisco.
Cummins says sales growth to slow after robust 2018
The Columbus-based engine-maker, which saw revenue increase 16 percent last year, expects revenue in 2019 to fall between flat and up 4 percent.
Group launches $15M loan fund for housing near IndyGo stops
The goal is to preserve or spur development of 1,000 affordable housing units within close distance of an Indianapolis transit stop over the next five years.
Indianapolis-based mAccounting acquired by Oregon firm
Portland-based InDinero’s purchase adds 36 employees, including 17 CPAs, to its 200-person workforce.
Former Carmel stock broker sentenced to 18 months in prison
Brian Gimelson, 48, pleaded guilty to evading taxes on more than $1.2 million in income related to the multimillion sale of a rare painting.