Wells Fargo to pay $2.1 billion for role in housing bubble
Wells Fargo is one of the last remaining big banks to settle charges related to its role in the subprime mortgage crisis.
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Federal Reserve’s campaign to raise interest rates will help some banks but not all
Experts say variables include what type of loans a bank has on its books, local competition and marketplace demand.
Fed expected to leave rates alone as trade war raises anxiety
The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time.
Twitter shares plunge in bad week for social media stocks
Twitter’s drop of 18.5 percent Friday morning comes one day after Facebook lost 19 percent of its value.
Facebook’s stock plunges as growth stalls; Zuckerberg loses $16.8B
CEO Mark Zuckerberg’s fortune tumbled Wednesday as Facebook shares fell 20 percent in after-hours trading.
Colleges ask for share of future salary in lieu of loans
In contrast with traditional loans, students with income share agreements pay back a percentage of their salary for a set period of time after graduation.
Kenzie Academy scores $4.2 million, plans to expand school
Butler University is among the group of investors in Kenzie Academy’s college-alternative model, which combines one year of immersive learning with one year of paid work in the company’s tech-consulting subsidiary.
Fed leader bullish on U.S. economy, expects rates to keep rising
In his semi-annual testimony to Congress on Tuesday, Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy.
High Alpha secures more than $100 million for two new funds
Indianapolis-based "venture studio" High Alpha on Monday announced plans to take operations to the next level by adding two funds worth more than $100 million and two new investors with national reputations.
Fed Chair Powell says economy in ‘good place’ at moment
In an interview Thursday, Federal Reserve Chairman Jerome Powell gave an upbeat assessment of the economy, noting that unemployment is at its lowest point in nearly two decades and inflation is rising toward the Fed’s optimal range.
Local technology firm lands $5.5 million in venture capital
PactSafe, an Indianapolis tech firm that offers clients a cloud-based contracting platform, said the infusion of capital will allow it to add up to 20 employees by year’s end.
Financial firm moves HQ to Indianapolis, plans to add 225 employees
A national credit-reporting and mortgage-data company founded in San Diego plans to spend nearly $3.6 million to establish its headquarters and operations center downtown in the Landmark Center.
Healthy cash flow curbs businesses’ appetite for financing
A survey released Monday shows that only 30 percent of companies tried to raise outside financing during the previous three months.
Simon hiring from within to replace departing CFO
Brian McDade has been with the retail real estate giant for 14 years, serving in various senior finance and accounting roles.
China says U.S. swinging ‘big stick’ of unfair trade tactics
President Trump has ordered tariffs on $50 billion in Chinese goods in response to Beijing’s forced transfer of U.S. technology and alleged intellectual property theft, and threatened to impose duties on $400 billion more.
Carmel-based Merchants Bancorp plans $21.9M bank acquisition
The acquisition will add three banking offices to Merchants’ subsidiary, Joy State Bank.
Fed raises key interest rate, sees possible acceleration in hikes
The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases.
Anticipation surrounds Fed’s rate forecasts after next hike
The Federal Reserve is set Wednesday to modestly raise its key short-term interest rate for the second time this year. But attention will be focused on any hints the Fed might accelerate its hikes in the coming months.
Allos Ventures plans $50M-plus VC fund, adds director
The 8-year-old firm, which focuses on investing in early-stage Midwestern tech companies, this week filed plans with the Securities and Exchange Commission to raise $50 million to $100 million for the new fund.
Stuart Mortuary files for Chapter 11 bankruptcy protection
The 70-year-old business, an institution in the local African-American community, is seeking reorganization after accumulating hundreds of thousands of dollars worth of tax and business debts.