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.
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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.
Celadon gets six-month extension from NYSE to avoid delisting
The extension gives Celadon until May 2 to file several delinquent quarterly and annual financial reports with the Securities and Exchange Commission.
Merchants Bancorp shares rise in trading debut after IPO
The Carmel-based bank raised $100 million, which it plans to use for a new acquisition and to further fuel growth.
Trump names Treasury official to be acting IRS commissioner
The appointment came the same day the Trump administration agreed to a "very substantial" payout to hundreds of tea party groups to settle a class-action lawsuit over burdensome IRS scrutiny in 2012.
$1B bank merger notable for absence of egos
An army of MainSource Financial Group executives will have key roles at First Financial Bancorp after First Financial completes its purchase of the Greensburg-based bank early next year.
Trump, GOP at odds over using 401(k)s to pay for tax cuts
While the president insists the popular retirement plans will remain untouched, lawmakers are open to revisions.
Trump wants to make mark on Fed, but could keep ‘terrific’ Yellen
President Donald Trump said he’s narrowed his Federal Reserve decision to “two and maybe three people” and an announcement will come in a “very short period of time.”
Is U.S. economic recovery nearing its end after 8 years?
The chief investment strategist for Fifth Third Bank says the economy is in the seventh inning of its recovery, which is "good news." But headwinds in the labor market could be limiting the potential for growth.
Senate GOP moves to repeal consumer banking rule
Vice President Mike Pence cast the final vote to break a 50-50 tie. The banking industry had been lobbying hard to roll back the regulation from the Consumer Financial Protection Bureau.
Trump rejects idea of new caps on 401(k) savings in tax plan
President Donald Trump on Monday shot down reports that House Republicans were considering tweaking or capping one of the most popular breaks.