SKARBECK: Rising corporate profits have justified bull run
Plenty of loud voices argue this long but lazy bull market has been manufactured by the Fed’s policies. That’s not what’s driving stocks.
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Dow Jones index back in positive territory after surge
Another surge in U.S. stocks Thursday, on the heels of a four-week rally, turned the Dow Jones industrial average positive for the year and wiped out its losses from a terrible start to 2016.
Fed keeps key rates unchanged; foresees fewer hikes in 2016
Fed officials expect to raise rates more gradually this year than they had envisioned in December. The officials now foresee two, rather than four, modest increases in their benchmark short-term rate during 2016.
Investors to weigh Fed words for clues to future rate hikes
Most Fed watchers think the central bank wants more time to assess the financial landscape. Resuming its rate hikes too soon could slow growth or rattle investors again.
Midwest tech firms might skirt big valuation dips, experts say
The tailwinds that helped push valuations at private tech companies to sky-high levels have subsided considerably in 2016, but local experts think Midwest startups have little to fear.
Former Carrier accounting manager lands in prison
A former accounting manager at Carrier Corp. in Indianapolis has been sentenced to federal prison for embezzling more than $1.2 million from the company, U.S. Attorney Josh Minkler announced Wednesday.
College endowments show losses in volatile stock market
A dozen funds that responded to requests for their returns for the first six months of fiscal 2016 showed an average loss of 3.8 percent. Indiana University’s loss was even larger.
Fed official sees hints of too-low inflation moving up
Federal Reserve Vice Chairman Stanley Fischer said Monday that inflation in the U.S. may be starting to tick up from too-low levels, a key condition for further interest rate hikes.
Former investment broker sentenced to one year
Ronald W. Nichter, 60, was found guilty of siphoning more than $160,000 from the investment accounts of 14 clients, including several who lived in Anderson, Pendleton, Greenfield and Shirley.
Bond bank will manage Carmel debt
Carmel Mayor Jim Brainard is trying to streamline the city’s debt management with a new Local Public Improvement Bond Bank. But it’s not clear whether his method in creating the bond bank, his choices for key positions, and his proposed combination of smaller bonds follow state guidelines and best practices.
Indiana tax preparer pleads guilty to $1.5M in fraud
A local tax-preparation business owner has pleaded guilty to instructing his employees to prepare more than 2,300 false client tax returns worth $1.5 million.
Credit unions shed wallflower image, tread on banks’ turf
Some big Indiana credit unions are ramping up growth, undaunted by the increasingly competitive banking landscape.
Salin taps banking veteran to lead wealth management
In his new role, John W. Coughlin, a 25-year-veteran of Indianapolis banks, will drive the bank’s investment, retirement, trust and estate, and insurance services strategies.
JPMorgan Chase agrees to $905,000 settlement with state
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
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.
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.