Indiana probing JPMorgan’s church trust practices, sources say

Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.

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With cheap gas, America’s big MPG goals in trouble

In private meetings late last year, U.S. regulators and automakers staked out preliminary—and opposing—positions in a debate about the companies’ ability to boost fuel economy 50 percent to 54.5 miles per gallon by 2025. The manufacturers’ message was simple: Improvements to gasoline engines, including direct-injection and turbocharging, clearly won’t be enough to reach the target […]

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UPDATE: Cummins plans 2,000 job cuts after disappointing quarter

The Columbus-based engine maker said it would lay off about 500 people in Indiana. Shares fell nearly 10 percent Tuesday after third-quarter profit trailed analyst estimates and the company reduced its annual sales forecast due to weakening demand for its heavy-duty engines.

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BorgWarner to acquire Remy International for $950M

Auburn Hills, Michigan-based BorgWarner Inc. announced plans Monday to buy Pendleton-based auto parts maker Remy International Inc.—the 12th largest public company in the Indianapolis area and the 25th largest in Indiana.

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