AP News

Venture funding falls 12 percent in second quarter

July 20, 2012
Associated Press
Funding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade.
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Purdue planning $89M classroom, library project

July 20, 2012
Associated Press
Purdue University officials are working on plans for an $89 million project to build a new classroom and library building that would take the place of an old power plant on the West Lafayette campus.
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USDA: Rain likely too late for most of Indiana's corn

July 19, 2012
Associated Press
A top federal farm official who spent two days touring drought-stricken Indiana farms said Thursday that most of the state's corn crop is in such bad shape that this week's rainfall likely won't boost yields.
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Colts work out deal with top draft pick Luck

July 19, 2012
Associated Press
Quarterback Andrew Luck, a two-time Heisman Trophy runner-up at Stanford University, will replace Peyton Manning behind center this season.
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Indiana city sees many high-skilled immigrants

July 19, 2012
Associated Press
Companies based in a central Indiana city are hiring a greater percentage of people with visas for high-skilled foreign workers than any place in the U.S. other than California's Silicon Valley, according to a new study.
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Regulators to quiz CEO ousted in utility takeover

July 18, 2012
Associated Press
North Carolina regulators expect testimony Thursday from the CEO ousted by Duke Energy Corp. within hours of becoming the top executive of the country's largest electric company.
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Indiana can't collect on IBM welfare lawsuit, judge rules

July 18, 2012
Associated Press
Indiana cannot collect millions of dollars it claims IBM owed after its efforts to overhaul the state's welfare system failed, and the computer giant is entitled to payment for equipment the state kept, a judge said in a Wednesday ruling that condemned both sides.
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PNC earnings sink on soured home mortgages

July 18, 2012
Associated Press
PNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds of millions of dollars to buy back home mortgages.
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Duke Energy seeks delay in CEO-switch testimony

July 17, 2012
Associated Press
Duke Energy Corp. asked state regulators Tuesday for a weekslong postponement of testimony by two top directors, including local businessman Michael Browning, about the surprise CEO switch at the top of America's largest electric company.
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Indiana crime labs catch up on DNA testing

July 16, 2012
Associated Press
The Indiana State Police crime laboratories increased their turnaround time on testing DNA evidence last year, even though far more samples were submitted, according to a report from the agency.
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USDA official to visit Indiana farms amid drought

July 16, 2012
Associated Press
Farm and Foreign Agricultural Services Undersecretary Michael Scuse will travel to Indiana on Wednesday and Thursday to tour drought-stricken farm fields in Allen and White counties in northern Indiana and Johnson County south of Indianapolis.
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RV company planning Indiana factory expansions

July 16, 2012
Associated Press
A recreational vehicle maker is planning factory expansions in northern Indiana that could add more than 400 jobs in a county that was badly battered by that industry's collapse during the recession.
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Gregg, Pence ratchet up fundraising in race

July 16, 2012
 IBJ Staff and Associated Press
Republican Mike Pence and Democrat John Gregg are heading into the key stretch of the Indiana governor's race with strong bankrolls.
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U.S. retail sales sink for third straight month

July 16, 2012
Associated Press
Retail sales fell 0.5 percent in June from May, the Commerce Department said Monday. Consumers spent less on autos, furniture, appliances, on building and garden supplies, and at department stores.
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Indianapolis nears record for driest 45-day period

July 16, 2012
Associated Press
If the forecast for no rain on Monday holds up, the 45-day rainfall total would match a stretch in August and September 1908 that's the city's driest since the weather service started keeping records in the 1870s.
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Some Indianapolis fountains shut off amid drought

July 13, 2012
Associated Press
A watering ban sparked by Indiana's prolonged drought has prompted operators of several fountains in downtown Indianapolis to take steps to conserve water.
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Firm pitching Super Bowl rentals in Indy ordered to pay up

July 12, 2012
Associated Press
An Indianapolis judge has ordered a Phoenix-based home rental company to pay nearly $218,000 for not providing promised services before the Super Bowl last February.
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Indiana closes year with $2.1B in cash reserves

July 12, 2012
Associated Press
Indiana's state government is sitting on cash reserves of $2.15 billion following a year of continued budget cuts and improved tax collections.
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More oil exploration planned in western Indiana

July 12, 2012
Associated Press
An oil company is planning more drilling in western Indiana near where it made a large oil discovery last year on land owned by the Hulman family.
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Fewer auto closings reduce U.S. unemployment claims

July 12, 2012
Associated Press
The number of people seeking U.S. unemployment benefits plunged last week. But a big reason was that some automakers skipped their traditional summer shutdowns to keep up with demand, leading to fewer temporary layoffs of autoworkers.
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More U.S., Indiana homes facing foreclosure risk

July 12, 2012
Associated Press
More than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent increase in foreclosure activity.
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AG pushes back state fair settlement deadline

July 11, 2012
Associated Press
Attorney General Greg Zoeller is giving victims of the Indiana State Fair stage collapse more time to decide whether to accept a portion of $6 million in state money that's linked to a settlement with the owner and manufacturer of the stage.
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Fire, water worries grow worse amid Indiana drought

July 11, 2012
Associated Press
Indianapolis Mayor Greg Ballard is banning lawn watering in the city beginning Friday, and all smoking has been banned during a county fair in central Indiana because of the conditions caused by this summer's drought.
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HHGregg shares plummet on new earnings forecast

July 11, 2012
 IBJ Staff and Associated Press
HHGregg Inc. shares plunged Wednesday after the Indianapolis-based appliance and electronics retailer said it expects to report a wider first-quarter loss because of weak sales in its video business. It also cut its full-year outlook.
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Potential Lilly antipsychotic falls short in study

July 11, 2012
Associated Press
Eli Lilly and Co. said a potential treatment for acute schizophrenia failed in a late-stage study that compared patients taking the drug to those taking a placebo.
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