Bankruptcy trustee appears poised to sue former ITT brass
Deborah Caruso has launched a no-holds-barred inquiry into the defunct company's business practices and is seeking documents and depositions from the accounting firms that audited its books.
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Indiana venture capital deal activity hits 16-year high
Hoosier companies signed 31 venture capital deals worth $77 million last year, a 16-year-high for deal activity that underscores Indiana’s growing variety of high growth firms.
FOCUS: Will Trump’s policies push markets higher?
Six experts talk about what the new administration, rising Fed rates, oil prices, Brexit and more mean for 2017.
SmarterHQ raises $13 million, eyes new markets
Marketing software maker SmarterHQ Inc. has raised $13 million to expand operations, marking one of the area’s largest venture capital hauls in recent years.
Ed-tech startup raises $1.25M from investors, including Simon family members
This is the second capital raise for ClearScholar, which runs an app for college students that aims to be a primary digital destination for school information.
Trump to pick deals lawyer Clayton to lead SEC
President-elect Donald Trump is expected to pick Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, positioning a top lawyer to banks and hedge funds to lead Wall Street’s main regulator.
Two men charged with securities fraud for alleged Ponzi scheme
George R. McKown, 65, of Indianapolis and another man are accused of taking part in a Ponzi-like scheme that robbed numerous investors of their retirement savings.
Banks agree to pay $9 million to settle biased-lending claim
Indianapolis might stand to benefit from a U.S. Department of Justice settlement with two Cincinnati-based banks, which are accused of biased mortgage lending in four cities.
Sears Holdings lines up $200M in financing to stay afloat
The move signals that hedge fund manager Eddie Lampert remains committed to bankrolling Sears, even as the once-mighty department-store chain suffers from dwindling sales and billions in red ink.
High CFO turnover for retailers a sign of the times
The rapid turnover is a symptom of the quickly changing retail industry, as shifting consumer behavior demands new strategies from companies trying to keep up.
First Internet Bank raises $23.4M with new stock offering
The Fishers-based online-only bank plans to use the new capital to support its growing loan business.
Securities watchdog bans second broker in alleged Veros Ponzi scheme
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
Officials want $150K loan tied to Muncie project paid back
The $150,000 loan to a businessman was made more than three years ago as part of an effort to redevelop a Muncie building and create jobs.
Feds bring charges in alleged fraud scheme that stung CNO Financial
Prosecutors accused Platinum Partners of carrying out a $1 billion fraud that included setting up an affiliate to bamboozle institutional investors—including CNO Financial Group—into investing in the teetering hedge fund.
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.
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.