Citizens Energy plans $20M Fishers reservoir
The utility already has begun work on the project in an 88-acre former limestone quarry, which could provide another 25 million gallons of water per day when the reservoir opens in 2020.
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Potential Anthem-Cigna deal hinges on CEO cooperation
Cigna Corp. and Anthem Inc. are poised to do the biggest deal that the health insurance industry has ever seen—if their CEOs can get along.
Justices suspend Indy lawyer who ran $19M Ponzi scheme
Indianapolis attorney Charles Blackwelder already has pleaded guilty to a real estate scam in Hamilton County that involved more than 300 elderly Hoosiers.
NBA pipeline from Europe getting bigger, deeper and stronger
A record 101 foreign-born players are on NBA rosters. Three overseas players are potential top 10 picks in the upcoming NBA draft.
City Securities paying $250K as part of SEC settlement
City Securities Corp. has agreed to pay $250,000 as part of an industry-wide settlement with the Securities and Exchange Commission over disclosure shortfalls in municipal bond offerings.
Durable goods orders make another monthly retreat
Orders to U.S. factories for long-lasting manufactured goods fell in May, pulled down by a sharp drop in demand for aircraft. But a category that reflects business investment rose, a hopeful sign for manufacturing.
Rainy weather keeps soybean planting pace at 19-year low
Parts of the Midwest received more than six times the normal amount of rainfall in the week ended Monday. States including Indiana had less than two days suitable for fieldwork last week
Library hires first architects for $58M in new branches, upgrades
Trustees have selected Indianapolis architectural firms to design the first two of six new branches scheduled to be built between 2016 and 2022.
Auto parts maker plans 115-worker Plainfield warehouse
California-based Spyder Auto, which makes fog lights and other aftermarket products, said it will invest $5.2 million to buy a vacant building and turn it into a logistics and distribution center.
Angie’s List lawsuit charges Amazon stole trade secrets
The federal lawsuit says Amazon took shortcuts in building a direct competitor to Angie's List by having employees sign up as members of the Indianapolis-based consumer reviews company and then illegally downloading lists of service providers and other information.
Lilly drug regimen costing $9,200 a month scores zero in study
In a new scoring system for oncology drugs, a leading group of U.S. cancer doctors awarded a zero for overall benefit to a regimen featuring Alimta, Eli Lilly and Co.’s top-selling product.
Cigna: Anthem’s baggage makes marriage risky
Cigna said Anthem’s a risky bet due to fallout from its massive data breach, lawsuits that accuse it of conspiring to inflate prices, and lack of a growth strategy. But Wall Street thinks this deal is going to happen, unless Cigna can find another buyer.
Anthem reaffirms commitment to its $47 billion bid for Cigna
Indianapolis-based Anthem Inc. said Monday that the merged companies would cover more than 53 million people combined, a total that easily surpasses that of current market leader, UnitedHealth Group Inc.
Fifth Third Bancorp ready to close about 100 branches
Fifth Third Bancorp said it plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones. The company has more than 40 branches in the Indianapolis area.
People
Kem Hawkins, who has been president of Bloomington-based Cook Group Inc. since 2001, will retire on July 1. He will be replaced by Pete Yonkman, whom Hawkins has been grooming as a successor for several years. In late 2013, Yonkman replaced Hawkins as president of Cook Medical, the Cook company that makes medical devices. Hawkins, […]
Vibrating seats could be coming soon to a theater near you
With domestic movie theater attendance stagnant in recent years, more theater owners are looking to provide immersive 4-D jolts to goose both moviegoers and box office revenues.
Regulator suspends City Securities investment broker
The Financial Industry Regulatory Authority suspended a local broker for 20 days for allegedly executing client trades under his own discretion without written client consent.
Hotel-record inspection law tossed out by U.S. Supreme Court
A divided U.S. Supreme Court threw out a Los Angeles ordinance that lets police inspect hotel registries without first getting a judge’s permission. Similar laws are in place in Indianapolis, Atlanta, Detroit, Seattle, St. Louis and Cincinnati.
A&E priority list includes PopCon, an original musical, more
At Conner Prairie, the Symphony plays “Pictures at an Exhibition” while pictures are created for an exhibition.
Company news
Eli Lilly and Co.’s shares have risen more than 5 percent this month—and more than 20 percent so far this year—as its pipeline has delivered a string of positive results. This month alone, the Indianapolis-based drugmaker has reported positive results from clinical trials of four experimental drugs. And next month, Lilly will release more data […]