Dow drops almost 400 points on Federal Reserve rate concerns
U.S. stocks fell sharply Friday, pulling the Dow Jones industrial average down almost 400 points, giving the market its worst day since June 24 and worst week since January.
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Clinton’s drug proposals ‘very negative’ for industry, top CEO says
The head of Pfizer Inc., America’s biggest drugmaker, said Democratic presidential nominee Hillary Clinton’s proposals to contain the price of pharmaceuticals would be “very negative” for the industry and are a step toward single-payer health care.
What’s next for ITT students and their half-billion dollars in debt?
The closure of ITT’s 136 campuses threatens to throw some 29,000 indebted students off their educational tracks, and to saddle taxpayers with nearly a half-billion dollars in losses.
Cigna can’t sign new Medicare customers as probe lingers
Health insurer Cigna Corp., which has an agreement to be acquired by Anthem Inc., won’t be able to sign customers for its private Medicare plans during the fall enrollment season because of an investigation by U.S. regulators.
Simon Property-led group wins bid to keep teen retailer alive
A consortium led by Indianapolis-based mall giant Simon Property Group Inc. and rival General Growth Properties Inc. has won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores.
Simon part of group trying to save at least 229 Aeropostale stores
Without the rescue, it appears the teen fashion retailer’s remaining stores are heading for liquidation, an event that will put about 10,000 people out of work. Aeropostale has five Indianapolis-area stores.
J.C. Penney aims to be king of the mall as rivals retreat
J.C. Penney Co. is in a surprising position more than four years after it was almost run aground by a former CEO: It could be the last department store standing at your local mall.
UPDATE: Feds ban ITT Educational from enrolling students on federal aid
The decision is a potential death blow to Carmel-based ITT, which derives most of its revenue from federal loans and grants. Its stock was halted Thursday after shares fell 35 percent.
Struggling Sears borrows $300M from hedge fund as losses mount
Sears Holdings Corp., which operates about 80 stores in Indiana, is once again lining up financing after losing more than $9 billion in recent years.
McMansions: a bad bet, except maybe in the Midwest
The few areas in which McMansions are gaining value faster than more tasteful housing stock are primarily the Midwest and the eastern New York suburbs that make up Long Island.
Advertising for presidential race down 60 percent, hurting broadcasters
Since late April, when Donald Trump secured the Republican nomination, $146 million has been spent on advertising in the presidential race, compared with $373 million over the same period in 2012.
Lowe’s disappoints analysts with weak sales growth
One day after retailer Home Depot reported record earnings that signaled an improving U.S. housing market, competitor Lowe’s reported weak sales growth and cut its profit expectations for the year.
Target cuts its sales forecast, citing ‘difficult retail environment’
The dour outlook renews concern that the retail economy is sliding into a deeper funk.
EPA strengthens greenhouse-gas efficiency goals for big rigs
A big part of the greenhouse-gas reductions are expected to come from engine improvements, cutting fuel consumption by up to 5 percent, benefiting companies like Indiana-based Cummins Inc.
Dick’s boosts annual forecast despite slumping golf sales
The sporting goods chain with eight area stores saw its stock rise as much as 10 percent Tuesday morning. The retailer is benefiting from the demise of its biggest rival.
Food stamp rolls drop as states get tougher with some recipients
Much of the drop comes from an improving economy, but efforts to reduce enrollments among able-bodied adults who are capable of working are also accelerating the decline.
Aetna to quit most Obamacare markets, joining major rivals
The decision by Aetna is the latest blow to President Obama’s signature domestic policy law. While it has brought coverage to millions, the new markets have proven volatile for some of the largest for-profit insurers.
Anthem suffers setback in bid for Cigna decision by year-end
Anthem Inc. will go to trial against the U.S. in late November to defend its $48 billion takeover of rival insurer Cigna Corp., a start date later than Anthem said it needed to potentially close the deal by an April deadline.
Anthem, Cigna shares rise after U.S. says it’s open to settlement
Investors appeared emboldened by remarks from a Justice Department lawyer Friday that the government was willing to hear settlement offers in its antitrust case involving the merger of the two insurers.
S&P 500, Dow, Nasdaq hit records together for first time since 1999
All three U.S. stock benchmarks rose together to record highs for the first time in 16 years on Thursday amid surprising earnings.