Stocks gain after encouraging U.S. hiring news
Encouraging news about the U.S. jobs market trumped rising oil prices and worrying developments in Europe's simmering debt crisis on Wednesday.
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Ingersoll-Rand’s spin-off plan may give boost to area
Irish industrial conglomerate Ingersoll-Rand Plc is poised to spin off its security operations late this year into Allegion—which will have its North American headquarters and most of its executive team in Carmel.
Fast-growing Stonegate Mortgage files for public offering
Stonegate ranked No. 1 on IBJ’s May list of fastest-growing Indianapolis-area private companies. The eight-year-old company saw revenue rocket from $15.5 million in 2010 to $95.5 million in 2012.
State sues S&P over flawed ratings of securities
Securities Commissioner Chris Naylor accuses S&P of “systematically and intentionally” misrepresenting its analysis of securities backed by commercial or residential mortgages in order to “maximize revenue and market share.”
Slower U.S. growth might lead Fed to keep up stimulus
The U.S. economy may not be strong enough for the Federal Reserve to slow its bond purchases later this year. That's the takeaway from economists after the government cut its estimate of growth in the January-March quarter to a 1.8-percent annual rate.
Hedge fund guru Paulson cashes in on CNO wager
John Paulson, who made $15 billion betting against real estate and then saw his fortune shrink as gold slumped, has more than doubled his hedge fund's money on Carmel-based CNO Financial Group Inc.
Moody’s revises NCAA credit outlook to negative
The NCAA's credit outlook has been downgraded by ratings agency Moody's as the governing body of college sports deals with an anti-trust lawsuit about the use of athletes' images and likenesses.
Fair Finance trustee to continue pursuit into 2014
The attorney charged with recovering some $200 million for the 5,300 investors bilked by Tim Durham’s Fair Finance Co. plans to continue filing lawsuits for reparations into next year.
Feud with Hilberts stinging Menard on many levels
Throwing the sexual-extortion allegations into the public domain must be a nightmare for Menard, who for decades has doggedly avoided scrutiny of his personal life—even as he built his chain into the nation’s No. 3 home improvement retailer and built his net worth to an estimated $7 billion.
REITs tumble most since 2011 on concern of rising rates
Shares in U.S. real estate investment trusts fell the most in 19 months Wednesday. Three major REITs, all based in Indianapolis, saw their shares drop on Wednesday.
World looks to Bernanke to clarify stimulus plans
Financial markets have been gyrating in the 3½ weeks since Bernanke told Congress the Fed might scale back its effort to keep long-term rates at record lows within "the next few meetings"— earlier than many had assumed.
Hilbert puts MH management company into Chapter 11
The move, the latest fallout from the executive's feud with hardware king John Menard, puts on hold a Wisconsin lawsuit that sought millions of dollars from the company.
Suit: Menard pressured Tomisue Hilbert for sexual favors
The lawsuit charges Tomisue Hilbert’s rejection of the billionaire is the real reason he launched a bitter battle to remove her husband, Steve Hilbert, as CEO of the Indianapolis-based private-equity funds the three of them started in 2005.
Top 6 ExactTarget officers reap $92.5M in option gains in sale
The gains for top brass represent about one-third of the $277 million in option gains that the company's 1,700-person work force will rack up, regulatory filings show.
Stocks swoon after weak economic reports
Companies like miners, banks and chemical makers, whose fortunes are most closely tied to the prospects for growth, fell the most. That's a sign investors are becoming less confident in the U.S. economy.
IEDC rolling out $1M diversity investment fund
Fund managers will seek to invest in companies owned by minorities, women and veterans that have sustainable competitive advantages, scalable business models and the potential for meaningful job creation.
Finish Line’s cash hoard could make it alluring target
The Indianapolis-based retailer is debt-free and has amassed $227 million in cash on its balance sheet. That works out to $4.63 per share.
Centerfield rounds up $171M for new fund
An Indianapolis private investment firm has raised one of the largest-ever funds in the state. Centerfield Capital Partners pulled in $171 million that it plans to invest in about 20 companies. Its two previous funds totaled $60 million and $116 million.
Leader of fraud scheme sentenced to 4-plus years
Michael Russell, 54, pleaded guilty in January to 20 counts of wire fraud and money laundering in a scheme involving former Indianapolis City-County Councilor Paul Bateman.
First Merchants’ deal to make it state’s second-biggest bank
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.