Fed raises rate, boosts outlook for borrowing costs in 2017
New projections show the central bankers expect three separate quarter-point rate increases in 2017, up from the two seen in the previous forecasts.
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Federal Reserve expected to raise rates for first time in a year
The Fed last increased rates in December a year ago, when it hiked its benchmark rate from a record low set at the depths of the 2008 financial crisis.
Software firm BidPal raises $6 million in new financing
BidPal said it plans to use the funds to “significantly accelerate product development” and “expand marketing and sales efforts.”
Longtime Indiana Bankers Association leader set to retire
S. Joe DeHaven, a 47-year banking industry veteran, is handing the reins to the Amber Van Til, the first woman to serve as CEO and president of the association.
Supreme Court upholds broad power to curb insider trading
The justices ruled Tuesday that sharing corporate secrets with friends or relatives is illegal even if the insider providing the tip doesn't receive anything of value in return.
House passes bill aimed at overhauling Dodd-Frank law
The House legislation is portrayed by its backers as a potential boon to regional or large community banks that didn't contribute to the financial meltdown, as opposed to the Wall Street powerhouses.
Fair Finance CFO seeks reduction of sentence
Rick D. Snow—who was convicted in 2012 of helping Tim Durham and Jim Cochran loot Fair Finance Co. but didn’t raid the company’s coffers himself—is seeking to get his 10-year sentence reduced.
‘Twelve Days of Christmas’ to cost a tad more this year
The prices for nine of the 12 gifts listed in the holiday carol stayed the same or became cheaper this year, according to the 33rd annual PNC Wealth Management Christmas Price Index released Thursday.
Treasury pick Mnuchin predicts tax cuts to double U.S. growth
U.S. Treasury Secretary-nominee Steven Mnuchin outlined an economic agenda aimed at almost doubling the growth rate of the current expansion, saying he will boost jobs by making tax reform his overriding priority.
Buy, sell or hold after Lilly’s Alzheimer’s flop?
Analysts are all over the map on how investors should react to the Indianapolis-based drugmaker’s news that a promising drug failed to help patients.
Dow breaks 19,000 mark as stock indexes reach record territory
The Dow Jones Industrial Average on Tuesday morning climbed above 19,000 for the first time, as U.S. stocks added to gains that pushed four major equity benchmarks to simultaneous records for the first time since 1999.
Bank dealmaker Reed retiring, moving west
Investment banker John Reed had the foresight to move from the East Coast to Indiana just as a change in state law unleashed a tidal wave of bank mergers. He and his wife are retiring to Colorado to be closer to family.
Wealth manager Cooke Financial Group jumps to David A. Noyes & Co.
Cooke Financial Group LLC, which oversees $1.7 billion in assets, is parting ways with Wells Fargo Advisors LLC. Principals Chris Cooke and Brian Cooke have bought into Chicago-based Noyes and will run the largest of its seven offices.
Smaller banks gobbling up market share
But heavyweights Chase Bank and PNC Bank between them still have more than a 40 percent market share, according to recently released federal data.
From banker to caregiver, Steve Schenck has memories to cherish
Schenck's wife, Becky, was diagnosed with terminal brain cancer in 2006 and told she had only 12 to 15 months to live. She defied the odds and lived 10 years beyond her prognosis—time together Steve cherishes and wouldn’t trade for anything.
Yellen says ‘case for an increase’ in rates has strengthened
Federal Reserve Chairwoman Janet Yellen sketched a picture Thursday of an improving U.S. economy. The Fed is widely expected to raise the federal funds rate when it meets in mid-December.
Firms’ infatuation with buybacks creating economic drag
Investment strategist Jeff Korzenik said executives often have an incentive to buy back stock rather than using that cash to make capital expenditures.
Drugmakers’ stocks jump on promise of Trump presidency
Pharmaceutical company stocks were among the winners in early trading Wednesday as Republicans’ sweeping election victory eased concerns that Democrats would enact controls on drug prices. Eli Lilly and Co. shares jumped 4 percent.
Global markets rocked as traders see pathway for Trump victory
Global markets were thrown into disarray as early results from the U.S. election raised the possibility that Donald Trump may prevail over Hillary Clinton in the race for the presidency.
Woman gets almost 4 years in prison for $5.5M embezzlement scheme
A federal judge sentenced an Indianapolis financial executive to 46 months in prison after she pleaded guilty to charges related to stealing money from her former employer.