Two Hoosier companies pull off IPOs
OrthoPediatrics Corp. raised $52 million on Oct. 12, and Carmel-based Merchants Bancorp raised $115 million on Oct. 27.
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Senate approves Powell to follow Yellen as Federal Reserve chair
Jerome Powell, 64, has served for 5-1/2 years on the Federal Reserve’s board. A lawyer and investment manager by training, many expect him to follow Janet Yellen’s cautious approach to interest rates.
Greenwood broker banned for life from trading securities
Regulators say the broker violated industry rules by refusing to cooperate in the investigation of a customer complaint against him.
Local tech startup Zylo lands $9.3M in venture funding
Zylo, which helps companies manage their cloud computing software subscriptions, has secured its second big round of funding—including investments from big names in the world of cloud computing.
First Internet reports record year for earnings
The Fishers-based parent of First Internet Bank had another big year despite a small decrease in profit in the fourth quarter.
U.S. stock rally lifts Dow to first close above 26,000 points
The sharp gains also delivered record highs for the Standard & Poor's 500 index and the NASDAQ composite.
Tim Durham fraud victims eke out additional recovery
Investors in the Durham-owned Fair Finance Co. are slated to receive an additional $5 million soon, boosting their recovery to $23 million—which works out to about 11 cents on the dollar for their $208 million in losses.
Bank to open 3 more local offices, but with no employees
The “advanced centers” are intended to split the difference between standalone ATMs and regular branch offices.
Former Indianapolis entrepreneur charged with fraud in real estate deal
An entrepreneur, rapper and actor who had dreams of becoming a major Indianapolis real estate developer faces charges of securities fraud, the Indiana Secretary of State’s office said Tuesday.
Venture capital for Indiana startups surged in 2017 on fewer deals
Thanks to a strong fourth quarter with a $40 million deal, the amount of venture capital invested in Hoosier firms surged 50 percent in 2017 over the previous year.
Will bull market continue through 2018? Financial pros weigh in
As 2018 gets under way, investors are wondering whether the good times will continue to roll. Some financial pros are optimistic, thanks to the economy’s robust growth and the anticipated stimulative effects of the GOP’s newly passed tax-reform plan.
Indianapolis-area counties see big surge in early property tax payments
Thousands of residents in central Indiana pre-paid their property tax bills before Jan. 1, resulting in more than $31 million in early payments, according to research by IBJ. The early payments marked a significant increase for most areas.
Dow Jones industrials climb above 25,000 for first time
The Dow Jones industrial average closed above 25,000 points on Thursday just five weeks after its first close above 24,000.
Stake in Indiana-based OneMain Holdings sells for $1.4B
Apollo Global Management LLC and Varde Partners have agreed to buy Fortress Investment Group’s stake in Indiana-based consumer lender OneMain Holdings Inc.
Centerfield raises $310M, includes 2 local companies among investments
The local recipients are produce distributor IF&P Foods, parent of Indianapolis Fruit and Piazza Produce; and Wild Sports, which makes sports-themed tailgating games and accessories.
U.S. stocks mounted milestone-shattering run in 2017
The S&P 500 index finished the year with a gain of 19.4 percent, more than double its increase in 2016. The index notched 62 record highs this year.
World’s wealthiest gain $1 trillion in 2017 on market exuberance
The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs.
Survey: Small businesses more interested in loans
Small companies are getting more interested in borrowing, but many are still finding it hard to get loans from banks, a quarterly survey shows.
Celadon revises credit agreement with lenders
Indianapolis-based trucking company Celadon Group Inc. on Tuesday announced it has reached a new agreement in its ongoing effort to get its financial house in order.
Wealthy Americans flood advisers to take advantage of tax law
The new tax law will be anything but simple for many affluent Americans, who are now inundating their accountants for advice.