Fed set to raise rates as Yellen gives final news conference
Investors seem certain about this: The Federal Reserve is going to raise interest rates this week for the third time this year.
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Bank information taken in hack of Duke Energy vendor
Nearly 375,000 Duke Energy Corp. customers may have had personal and banking information stolen in a data breach.
Dow Jones industrial average closes above 24,000 points
Stocks powered to new highs on Wall Street on Thursday, giving the Dow Jones industrial average its biggest gain since March and putting it past 24,000 points for the first time.
CNO CEO Bonach has left mark on far more than his company
Ed Bonach became active in the community partly to send a message to the company’s beaten-down workforce that “you don’t have to hang your head about being part of this company. We are doing a lot of good things, and we will be doing more of them.”
Merchants Bancorp co-founder to retire amid executive shuffle
The Carmel-based financial company also announced promotions for two other top executives.
Yellen says she’ll leave Fed once Powell becomes chairman
Janet Yellen’s decision to leave will give Trump a fourth spot to fill on the Fed’s seven-person Board of Governors in Washington, including a vice chairman spot.
Andretti Autosport sued over sponsorship money from HHGregg
A group representing the unsecured creditors of HHGregg has filed suit against Andretti Autosport in an attempt to claw back nearly $1.5 million in sponsorship money the now-defunct retailer paid the racing team in the months leading up to its bankruptcy.
LDI to lose ownership of motorsports firm that’s filed for bankruptcy
In a deal called “one of the most important” stories in the motorcycle industry this year, a company controlled by Indianapolis-based business-holding firm LDI Ltd. has filed for Chapter 11 bankruptcy after racking up about $440 million in debt.
Calumet Specialty warned by Nasdaq for delaying quarterly report
Indianapolis-based Calumet Specialty Products Partners announced Nov. 10 that it was “in the later stages of an enterprise resource planning (ERP) system implementation,” which delayed the third-quarter report.
Carmel’s debt rating dips as city’s financial burden rises
Standard & Poor’s has downgraded Carmel’s debt rating, saying the suburb is “vulnerable to unanticipated economic or operating swings” given its growing debt levels.
Software firm Lessonly raises $8M in latest funding round
The investment was led by OpenView Venture Partners, a Boston-based venture capital firm that previously invested in ExactTarget.
ITT failure a calamity, but former execs say not fraud
The SEC broadly charges that two former ITT Educational Services executives concealed from investors the “extraordinary failure” of two off-balance-sheet student loan programs ITT helped set up in 2009 after the financial crisis shut down the market for traditional private education loans.
Pence pays tribute to late Indiana economist Bill Styring
Vice President Mike Pence said Indiana economist William Styring III, who died Monday, will long be remembered “for his life of humble service and commitment to economic freedom.”
Former AIT Labs owner faces $4.4M suit over HQ building
The once-booming toxicology business struggled for years under declining revenue and huge debts before being acquired last year by a Texas private equity firm. Its Park Fletcher headquarters building remains empty.
Powell pledges to pursue Fed’s employment, inflation goals
Jerome Powell, President Donald Trump’s pick to lead the Federal Reserve, pledged to pursue the U.S. central bank’s goals of stable prices and maximum employment while keeping a watchful eye on financial sector risks.
Trump to pick Powell as Federal Reserve chairman, sources say
Trump, who has said he’ll announce his pick Thursday, would be choosing a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations.
Fed leaves key rate unchanged but hints at future hikes
With a new Federal Reserve leader about to be announced, the Fed is hinting that it's preparing to resume raising rates as the economy shakes off the effects of recent hurricanes.
West Lafayette biotech raises $40M to develop cancer-imaging drugs
The company said the funds would help it test its lead compound in late-stage clinical trials, allowing surgeons to detect cancerous cells with the help of fluorescent dyes.
Former heavy-hitter stockbroker Buck charged with fraud
Thomas. J. Buck, a former top investment broker who was fired by the local office of Merrill Lynch in 2015 after nearly 34 years with the firm, is now facing serious prison time, according to federal officials.
Trump’s top candidate for Fed chair is Powell, sources say
In Jerome Powell, President Donald Trump would be selecting a policymaker with a reputation as a moderate whose stance on interest rate increases would likely deviate little from Janet Yellen’s cautious approach.