Consumer spending slips in December as car sales weaken
Personal income rose 0.3 percent in December, aided by the steady wave of hiring over the past year. But rather than spend those gains, consumers saved more of their disposable income.
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U.S. pay, benefits posted biggest gain since 2008
An uptick in the employment cost index during 2014 could be a sign strong job gains are forcing companies to pay a bit more for workers.
Carmel’s Merchants Bancorp aims to raise $50M for growth
One of the state’s largest privately held banks could bring in as many as 500 new shareholders to help fund growth. A planned acquisition fell apart early last year.
Municipal finance pioneer retires after 33 years
Colette Irwin-Knott, the first female partner at Umbaugh, has retired after 33 years at the municipal financial advisory firm.
Canadian investor to pay $593M for stake in IPL
The parent company of Indianapolis Power & Light Co. plans to use the investment to help fund $1.4 billion in capacity improvements and environmental upgrades for IPL.
ITT Educational shares soar on loan agreement
The Carmel-based, for-profit educator announced Thursday that it had secured a much-needed, $100 million loan.
IMA CEO’s quest: artistic flourishes, but on a budget
Charles Venable inherited two years ago a museum with an elevated stature in the world of art but disappointing attendance figures and a penchant for over-spending its endowment to make ends meet.
ITT cash crunch has analysts raising spectre of bankruptcy
Carmel-based ITT Educational Services no longer has a margin of error, as it tries to dig out from a scuttled real estate deal, tightened rules from lenders and the feds, and its CEO’s pending resignation.
Old National scoops up Lafayette Savings Bank for $42M
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
Software firm Salesvue secures $3M in venture capital
The Indianapolis-based firm expect to boost its employment by 50 percent by the end of the year as it expands its sales and marketing nationally.
City’s $160M deal adds to Pacers’ financial winning streak
The Pacers’ revenue stream this season has increased about $42 million from where it was during the 2008-2009 season, and the team’s finances could get even brighter as the NBA negotiates a new national television package.
Deca Financial to wind down after trustee opts for liquidation
The Fishers debt collection agency had been forced into bankruptcy by creditors. On Monday, a judge approved a request to terminate the once-promising firm.
Emmis cranks up volume on fourth quarter revenue
Rumors of radio’s demise appear to be greatly exaggerated, at least for Indianapolis-based Emmis Communications Corp. Revenue for its radio and publishing arms continue to improve.
WellPoint CEO lands nearly $17M in first year
Compensation for Joe Swedish included $4.1 million in perks, such as $3.8 million he would have received in his previous job, $79,000 in relocation expenses, and $82,000 for his legal fees from contract negotiations.
Bill opens door to crowdfunding investments for businesses
Privately owned businesses in Indiana will be able to raise investments online as part of a bill on the way to Gov. Mike Pence’s desk.
Calumet shares skid on big fourth-quarter loss
The Indianapolis-based processor of crude oil blamed its loss on tighter profit margins and higher operating costs. It has been on an acquisition spree since 2011.
U.S. economic growth perks up in third quarter
The U.S. economy expanded at a 2.8-percent annual rate from July through September, a surprising acceleration ahead of the 16-day partial government shutdown.
Strategist: Get ready for steady economic growth
Businesses will begin using their profits and horded cash to reinvest in themselves in 2014, helping push economic growth back to a more comfortable 2.5 percent, according to John Augustine, chief market strategist for Fifth Third Bank.
DowAgrosciences cultivates sales record, but profit withers
Despite a boost in third-quarter revenue due to crop-protection products, profit for the local unit of Dow Chemical tumbled more than 71 percent.
Crowd funding taps passionate fan base for fantasy figurines
A growing number of small game companies will join a pantheon of industry titans starting Aug. 15 at the Gen Con Indy gaming convention. The small guys are there largely because they can get the money they need to keep themselves alive via the fundraising technique known as “crowd funding” or “crowd sourcing.”