UPDATE: Proposal to raise payday lending rates fails
The proposed amendment would have made it legal for payday companies to offer six-month loans of up to $1,000 at an annual interest rate of 180 percent.
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Indiana probing JPMorgan’s church trust practices, sources say
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
Indy angel group gets aggressive with school startups
Indianapolis-based Vision Tech Angels has always invested in startups born at universities, by way of invitation. Now it’s flipping the script and seeking them out.
$10M Purdue Startup Fund aimed at business creation
While the university already has several funding competitions and programs to help advance startups, the Startup Fund presents an opportunity for alumni to become even more engaged.
Stocks continue plunge as investors fear global turmoil
U.S. stocks fell in midday trading Thursday, with the Dow Jones Industrial Average losing more than 300 points, as investors shunned risk worldwide.
Technology stocks lead way as market tumbles
Slowing job creation helped send the tech-heavy Nasdaq down 3.3 percent Friday. The Dow shed 1.3 percent.
Goodwill lands $2.5 million donation from Columbus family
Goodwill Industries Foundation of Central Indiana has received a $2.5 million donation from the Martha G. Davis Family Trust, the local not-for-profit announced Wednesday.
Geofeedia nets $17 million in latest funding round
The fast-growing company, which has its technology hub in Indianapolis, plans to deploy the cash across all segments of its business.
U.S. House passes bill to shelter munis from threat of bank rule
The U.S. House of Representatives approved a bill by a voice vote that would force banking regulators to classify investment-grade municipal bonds as liquid assets. The bill was written by Rep. Luke Messer, an Indiana Republican.
Not everyone in tech wants venture cash
It’s immensely difficult for tech firms to quickly build and sell technology software or hardware without a sizable venture war chest. Nevertheless, at least a few central Indiana firms have managed to grow at a healthy pace without trading equity stakes for cash.
Believers in Noble Roman’s see groceries as super market
The Indianapolis company has been trying to juice growth by franchising stand-alone take-and-bake pizza stores and by selling freshly made take-and-bake pizzas in grocery stores nationwide.
Fed voices concern about global economic pressures
Six weeks after it raised interest rates from record lows, the Fed took stock of a more perilous international picture that could alter its plans for further raising rates.
Investment broker’s plea deal erases 20 felony counts
Robert E. Wilson of Indianapolis originally faced up to eight years in prison on 20 securities-related felony counts. Under a plea agreement, he’ll serve six months probation on one misdemeanor count.
Carmel financial adviser found guilty of fraud
Prosecutors said Jamie C. Lopez used money from the retirement accounts of his victims to buy automobiles, make mortgage payments and pay for home landscaping.
Executives, networking helped make 2015 a watershed year for VC funding
Many startups, here and elsewhere, secure venture capital funding by touting their market traction, revenue growth and other statistics, all in an effort to prove to investors that they’re good bets. However, a look behind the scenes of High Alpha and three other big venture deals last year suggests that, oftentimes, landing capital has more to do with relationships and luck than with metrics.
Securities watchdog bans alleged Fishers Ponzi schemer from industry
Regulators said Fishers attorney and securities broker Jeffery Bruce Risinger refused to testify about his involvement in what the SEC claims was a multimillion-dollar Ponzi scheme—so they banned him for life.
Oil prices tumble, but stocks trim losses after big drop
U.S. stocks recovered much of an early plunge on Wednesday, but the price of oil suffered its worst one-day decline since September.
Hoosier banks put bad-loan woes in rearview mirror
Indiana-based banks have been spending less and less writing off bad loans over the past several years, a trend that suggests they’ve cleaned up their loan portfolios and might be willing to increase their appetite for risk.
Hoosier upstarts landed more than $55M in VC in 2015
Indiana companies landed at least $55 million in venture capital in 2015, according to a new survey. The figure climbs substantially when considering investments not included in the survey.
HHGregg’s top shareholder may be poised to sell chain
Freeman Spogli & Co. has been invested in the Indianapolis retailer for a decade, which is bordering on an eternity by private equity standards.