Banks are beefing up their loan-loss reserves
Banks aren’t reporting signs of trouble in their loan portfolios, but, at the same time, many that were reducing their reserves last year are now building them back up.
Susan Orr
Articles
Federal criminal case against former Celadon Group executives dismissed
On Thursday, Judge Jane Magnus-Stinson granted prosecutors’ request to dismiss the charges against Celadon’s former president and chief operating officer, Eric Meek, and its former chief financial officer, Bobby Peavler.
Central Indiana fair-housing group reaches settlement in senior-living lawsuit
The Fair Housing Center of Central Indiana and 11 partners in other states have reached a settlement agreement with a New York-based operator of senior-living apartments, including several in the Indianapolis area.
Newest High Alpha company helps brands collaborate
Colaboratory offers a platform that helps brands identify potential partners and collaborate with them. The company, which has been operating in stealth mode since January, has now publicly launched.
Indianapolis-based Trava Security lands $4.5M in venture funding
This is the second major funding round for Trava, which was launched by High Alpha in 2020. The company offers cybersecurity risk management and insurance for small and medium-sized companies.
Indy firm launches virtual-reality-focused effort to fill talent pipeline
VisionThree’s $80 million effort aims to place virtual-reality career labs in every high school, community college and university in Indiana by 2025.
Data privacy to be addressed during upcoming conference at 16 Tech
Data privacy—a topic of keen interest to Indiana’s tech companies—will be on the agenda when the Indiana Technology and Innovation Association hosts its annual conference later this month at 16 Tech.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Cummins investing $24M in German battery startup
Cummins is investing in VoltStorage, a Munich, Germany-based company that develops and produces batteries based on redox flow technology, a more environmentally friendly alternative to lithium-ion batteries.
How socially responsible are your investment funds?
The U.S. Securities and Exchange Commission has proposed a rule that would, for the first time, require funds and advisers to disclose information about how environmental, social and corporate-governance issues truly factor into their investment products and services.
New research effort aims to help Hoosier manufacturers cut energy costs
The effort involves manufacturers around the state capturing data about their energy use, then sharing that information to create a “data lake” which businesses and researchers can access.
Indianapolis-based Aearo files for bankruptcy protection amid flood of lawsuits
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Inotiv says closures of animal-breeding facilities could cost it nearly $10M
Indiana-based pharmaceutical testing company Inotiv Inc. disclosed late Monday that it expects to incur charges of between $7.4 million and $9.9 million for the previously announced shutdowns of two Virginia animal-breeding facilities.
Steelmaker to use scrap wood to cut its carbon footprint
Fort Wayne-based Steel Dynamics Inc. says a newly announced joint venture with Minnesota-based biocarbon company Aymium will help it meet its goal to achieve carbon neutrality by 2050.
Indianapolis-based Scale Computing lands $55M investment
Scale Computing CEO Jeff Ready said the $55 million investment will help the fast-growing company move closer to its goal of an initial public offering.
Indiana’s tech firms saw strong venture investment activity in 2Q
Indiana-based tech firms attracted a combined $166 million in investments last quarter, according to a report released this week by Indianapolis-based TechPoint. The quarterly total was up sharply from the first quarter, despite the nationwide tech slowdown.
Carmel-based enVista to sell portion of its business to German tech company
EnVista, which has 850 global employees and expects $185 million in revenue this year, is selling the commerce and transportation parts of its business to Germany-based Körber. Once the deal closes, 400 enVista employees, including its cofounder, will join Körber.
Inotiv facing shareholder lawsuit over stock drop
The West Lafayette-based pharmaceutical testing company has seen its stock price soar—and later plunge—following its announcement last fall that it planned to acquire Indianapolis-based Envigo RMS LLC, which breeds and sells animals used in lab testing.
Elevate Ventures is opening its annual pitch event to the public
Elevate Ventures’ annual pitch competition takes place Aug. 5 in Fishers, and this year for the first time the event is free and open to the public.
Fishers-based ‘blank check’ company finds acquisition target
Fishers-based American Acquisition Opportunity Inc. says it has entered into a merger agreement with Royalty Management Corp. in an all-stock deal that values Royalty Management at $111 million. The merger will create a new Fisher-based public company.