IU Kelley school alums power venture group AngelBom
AngelBom is composed of alumni of the IU Kelley School of Business’ Business of Medicine Program and is a 6-month-old chapter of the angel investment group VisionTech Partners.
Banking & Finance
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Innovate Indiana Fund backs fraud-prevention firm
Chicago-based Rippleshot, co-founded by IU alumnus Yueyu Fu, raised a total of $2.6 million in a funding round in February.
Federal Reserve hikes key rate for second time in three months
The move reflects a consistently solid U.S. economy and will likely mean higher rates on some consumer and business loans.
Small central Indiana town set to lose its only bank branch
Leaders of a small town east of Indianapolis are trying to find a way to keep the community's only bank open.
Student loan defaults on the increase, study finds
A new analysis of government data by the Consumer Federation of America found that the number of Americans in default on their student loans jumped by nearly 17 percent last year.
Former Estridge Homes controller to plead guilty to bank fraud
Thomas Carter of Fishers diverted more than $340,000 from company bank accounts into his own accounts between 2013 and 2016, Carter’s plea agreement says.
Gordmans Stores files for bankruptcy with plan to liquidate
The century-old discount department store chain operates one store in the Indianapolis area and several more in other parts of the state.
Indianapolis sitting pretty with light pension burden compared to peers, report says
Indianapolis has it relatively easy in large part due to state involvement in its pension plans, according to Standard & Poors.
Former Indianapolis tax preparer sentenced for filing false returns
Prosecutors say the man filed 65 fraudulent tax returns on behalf of central Indiana clients between 2010 and 2012.
Income tax audits plummet as IRS loses agents to budget cuts
As millions of Americans file their income tax returns, their chances of getting audited by the IRS have rarely been so low.
Embattled businessman Eyler files for bankruptcy
The filing follows a wave of lawsuits filed against Gary Eyler in connection with the collapse of The College Network, a company he founded in 1995 that provided online test-prep materials for college entrance exams.
Yellen signals Federal Reserve likely to raise rates this month
Federal Reserve Chairwoman Janet Yellen said in a speech in Chicago that the Federal Reserve expects steady economic improvement to justify additional rate increases.
Regions rolls out vision for branch of the future
Regions Bank last month unveiled a branch that does not feature teller lines, a format that likely will be replicated at other locations.
Eyler misses deposition, adding to furor over test-prep firm
Tennessee-based Southeast Financial Credit Union sued Eyler and others in 2015, charging they fraudulently restructured the business to thwart creditors and owe more than $13 million on defaulted loans.
Stocks have record day as Dow closes above 21,000
The Dow Jones industrial average rose above 21,000 points for the first time in what was the biggest gain for the blue-chip index so far this year. The S&P 500, the Nasdaq composite and the Russell 2000 also reached record highs.
HHGregg shares cease trading on New York Stock Exchange
The New York Stock Exchange on Tuesday suspended trading of HHGregg Inc. shares as it began proceedings to delist the struggling retailer’s common stock.
PwC’s hard-won reputation under threat after Oscars mistake
The accounting firm’s colossal mistake at the end of Sunday night’s Academy Awards threatens to undo decades of goodwill.
College endowments suffer ‘lost decade’
Officials overseeing endowments at some of Indiana’s colleges and universities have cut back on spending, or are considering doing so, after struggling to grow their funds over the past decade.
Don Brown leads $2M funding round in Carmel tech firm
Lumavate sells software to manufacturers so they can give their customers relevant information about products when they need it.
Noyes creates bond unit with City Securities vets
Three former City Securities fixed-income experts have joined Noyes, giving the firm’s new bond unit more than 150 years of sector experience.