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.
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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.
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.
Fair Finance CFO seeks reduction of sentence
Rick D. Snow—who was convicted in 2012 of helping Tim Durham and Jim Cochran loot Fair Finance Co. but didn’t raid the company’s coffers himself—is seeking to get his 10-year sentence reduced.
Buy, sell or hold after Lilly’s Alzheimer’s flop?
Analysts are all over the map on how investors should react to the Indianapolis-based drugmaker’s news that a promising drug failed to help patients.
SKARBECK: Opportunistic investors can profit on deal spreads
Recently, the potential returns on several arbitrage deals have widened, namely because regulators have increased their scrutiny of mergers for antitrust reasons.
Dow breaks 19,000 mark as stock indexes reach record territory
The Dow Jones Industrial Average on Tuesday morning climbed above 19,000 for the first time, as U.S. stocks added to gains that pushed four major equity benchmarks to simultaneous records for the first time since 1999.
Firms’ infatuation with buybacks creating economic drag
Investment strategist Jeff Korzenik said executives often have an incentive to buy back stock rather than using that cash to make capital expenditures.
Drugmakers’ stocks jump on promise of Trump presidency
Pharmaceutical company stocks were among the winners in early trading Wednesday as Republicans’ sweeping election victory eased concerns that Democrats would enact controls on drug prices. Eli Lilly and Co. shares jumped 4 percent.
Fed widely expected to leave key interest rate unchanged
With voters set to choose a new president and Congress in six days, the Federal Reserve will likely keep a low profile when it ends a meeting Wednesday to try to ensure it doesn't become part of the debate at the close of a tumultuous political campaign.
Angie’s List hires investment bankers, setting stage for possible sale
The home services marketplace did not specify it planned to sell itself, but hiring investment bankers is typically the first step in doing so. In a press release, CEO Scott Durchslag said only that the goal was “to achieve the full potential of our new platform.”
In economic ballgame, U.S. is in ‘seventh inning,’ strategist says
The chief investment strategist for Fifth Third Bank on Friday tried to temper optimism in an economic forecast for 2017, noting global headwinds that could curtail growth.
Angie’s List board departures followed push by activist
A Washington, D.C.-based investor who had wanted two longtime board members of Angie's List Inc. to quit got his wish in early October.
TD Ameritrade to buy Scottrade in $4B cash-and-stock deal
Online brokerage TD Ameritrade is buying Scottrade in a deal that would significantly expand its branch network at a time when many financial firms are expanding automated adviser programs.
Veteran portfolio manager joins Stifel Nicolaus
Thomas Pence, one of the area’s most renowned stock pickers, has joined Stifel Nicolaus & Co. after 16 years as managing partner and portfolio manager with Wells Capital Management.
Hoosier VC haul soft in 3rd quarter, but year has been strong
Hoosier companies raised about $12.1 million from venture capitalists in the third quarter—a small haul compared to previous quarters, but enough to keep the state on track for a relatively strong year.
Victims to collect money soon in Veros case
The court-appointed receiver in an alleged $8.6 million Ponzi scheme perpetrated by Indianapolis-based Veros Partners Inc. is preparing to make his first distribution to affected investors.
Smulyan extends his Emmis buyout offer yet again
The additional extension might be a sign Smulyan and the board are at odds over price. In a letter to directors evaluating the deal, Smulyan offered no details, stating, “Our entire team looks forward to further discussions … to complete a mutually acceptable transaction.”