Stock woes continue as China turmoil sparks global selloff
The Standard & Poor’s 500 index slid 2.4 percent on Thursday, to close at 1,943.09, falling to its lowest point since Oct. 1 in the worst start to a year in data going back to 1928.
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Here’s how Fed officials define ‘gradual’ rate hikes
For months, Federal Reserve officials have pledged that this rate hiking cycle will be gradual and data-dependent. After they finally lifted rates for the first time in almost a decade last month, market participants and economists have focused on just what that means. This week, two policy makers have given us a few additional clues […]
Young money: solutions for millennial financial worries
Keep your spending mindful and your savings mindless. That’s one key bit of financial advice for millennials from Karen Carr, a 27-year-old certified financial planner with Society of Grownups, a personal finance education and planning company based in Brookline, Mass. Sounds good, but how do you go about doing that? Carr and other millennial-generation money […]
Anthem workers file lawsuit over 401(k) fees in retirement plan
Anthem’s retirement plan is accused in a lawsuit of forcing about 60,000 workers and retirees to pay excessive fees by having to invest in Vanguard Group funds billed as low-cost options.
Aetna follows UnitedHealth in leaving industry lobbying group
With Aetna’s departure, two of the five biggest public U.S. health insurers will have ditched America’s Health Insurance Plans. The other three—Anthem Inc., Cigna Corp. and Humana Inc.—are still members
Lilly’s 2016 sales, profit guidance falls short of predictions
Indianapolis-based Eli Lilly and Co., which has promised to return to growth after a half-decade of falling revenue, indicated that 2016 earnings might be below analysts’ estimates.
U.S regulator upholds complaint over Midwest power auction
The Federal Energy Regulatory Commission said in a ruling that changes should be made to the Midwest Independent System Operator Inc.’s forward capacity auctions. Carmel-based MISO manages the electricity network for 15 U.S. states.
Global stocks on pace for historically bad day
Major U.S. stock indexes sank more than 2.5 percent in morning trading Monday following a financial rout that stretched across Asia into Europe.
U.S. manufacturing slows at fastest pace in six years
Struggling overseas demand and declines in commodity prices that are hurting investment in energy and agriculture continue to limit orders for American manufacturers.
Stocks have worst annual performance since 2008
The Standard & Poor’s 500 index and the Dow Jones industrial average both declined Thursday, the last trading day of 2015, putting both in the red for the year.
Landlords face slowing price gains after U.S. records shattered
The Federal Reserve’s first interest-rate increase in nine years has removed a crutch that’s helped sustain 33 consecutive months of price growth of at least 10 percent.
U.S. consumer confidence rises more than expected
Consumer confidence rebounded more than forecast in December as Americans grew more optimistic about the current state of the economy and job market.
Lender discrimination might be bankrupting black churches
Of the 654 congregations to file for bankruptcy protection between 2006 and 2013, 60 percent had black pastors or predominantly black membership, according to an associate professor at the Indiana University Maurer School of Law.
Lilly could pay $800M-plus in pact with drug-tech firm
The companies will work on coupling therapies from Lilly with technology from Halozyme Therapeutics that helps the body disperse and spread medicine.
Student debt may be the next crisis facing older Americans
Twenty-seven percent of education loans held by people age 65-74 were in default in 2013, meaning they hadn’t made a payment in 270 days or more. More than half of education loans held by people 75 and older were in default.
Autism likelier when antidepressants taken during pregnancy
A new study says women who took a common class of antidepressants during the second and third trimesters were more than twice as likely than other women to have children who later developed autism.
Main Street’s muni-market fight with Fed gains force in Congress
Main Street and Wall Street are fighting the U.S. Federal Reserve over municipal bonds—and they’re gaining ground.
Notre Dame endowment jumps to $10.5B in value
University endowments with some of the highest one-year gains in fiscal 2015 were boosted by investments in private equity, venture capital and real estate, including the fund at Notre Dame.
Simon partner to buy Oslo shopping center for $578M
The Oslo City shopping mall in the Norwegian capital of Oslo has about 355,000 square feet of retail space and 366,000 square feet of offices.
Dow, DuPont agree to combine in historic merger of equals
Dow and DuPont plan to divide the combined company into three publicly traded businesses, one of which would focus on agricultural products including herbicides and genetically modified seeds—the core business of Dow's Indianapolis-based Dow AgroSciences unit. DuPont also has a large ag unit.