Stock market plunges as multiple worries vex investors
The stock market fell in early trading after a dose of bad earnings news, and the losses accelerated throughout the day. The three major indexes suffered their biggest losses in months.
Banking & Finance
Articles
Investor reimbursement fund off to slow start
Time required for investigations, prosecutions caused delays.
Banks beckon wary millennials
Institutions have uphill climb to build trust with generation scarred by financial crisis.
Fed offers no clearer hint on first rate increase
The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it's offering no clearer hint of when it will start raising its benchmark short-term interest rate.
Soldiers get $92M in debt relief under settlement
Thirteen states, including Indiana, have settled an investigation into improper lending with a court agreement that is expected to provide $92 million in debt relief for 17,800 U.S. military personnel.
Study: 35 percent in U.S. facing debt collectors
More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
Mitchell departs state job for treasurer’s race
Kelly Mitchell announced Friday she was leaving her job as an investment director in the state treasurer's office Aug. 1.
First Internet reports smaller quarterly profit
A slide in mortgage-banking income hurt earnings, but net-interest income, commercial loans, deposits and assets were all on the rise.
First Merchants acquires Noblesville-based bank
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
Financial planner parlays meals for clients into money lessons
Joe Clark says the two things that seem to matter to people the most are food and money. He has found a way to combine the two, cooking for client families in their homes once or twice a month as he answers questions and gets to know them better.
House votes to extend moratorium on Internet taxes
Under current law, the moratorium expires Nov. 1, exposing Internet users to the same kind of connection fees that often show up on telephone bills.
Yellen says economy still needs Fed support
Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
Ball State hires prosecutor to review investment fraud
Indianapolis attorney Deborah Daniels will scrutinize what happened to $13.1 million.
WellPoint stock ascends to a record $110 per share
Indianapolis-based WellPoint saw its shares close July 9 at $110.87 per share, compared with less than $85 just five months ago.
First Financial nabbing new hub, closing 3 branches
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
UPDATE: State financing $250M for Interstate 69 segment
The project will upgrade much of the existing Indiana 37 to interstate standards for the I-69 extension that is planned to eventually connect Indianapolis and Evansville.
Dow Jones index tops 17,000 after strong jobs report
The Dow Jones industrial average climbed above 17,000 for the first time ever Thursday morning. The Standard & Poor’s 500 also hit an all-time high.
IU students get more information, borrow less
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
Ex-Hoosier funnels millions back home to local tech firms
West Coast investor Parker Hinshaw and his wife, Jean Balgrosky, in 2012 founded San Diego investment firm Bootstrap Incubation LLC and in 2013 the Bootstrap Venture Fund, which have funded three Indiana companies in less than a year. A fourth deal is about to close.
Tech firms get chance to pitch investors
Seventy-six startups and small tech companies will vie for investors’ interest July 10 at the Innovation Showcase.