Carmel-based Spektrum Labs secures $10M seed round
Local tech entrepreneur J.J. Thompson, who sold his previous tech firm, Rook Security, in 2019, is at it again with a new startup, Spektrum Labs.
Banking & Finance
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IBJ Podcast: Pete the Planner on whether buying a home is always a smart investment
It’s not at all necessary to get started right away, and there’s a navigable path for renters in the 40s to end up in a very comfortable situation by retirement.
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IBJ Podcast: ‘It all comes back to relationships,’ says banker turned small-biz owner
Something was missing from her career as a commercial lender, and Cindy Schum found it in a small firm that sold janitorial and cleaning supplies. After early trepidation, she realized she already had the key to entrepreneurship.
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Q&A with Mike Schrage: For Centier Bank CEO, focus is on serving communities
Schrage, now 77, sat down to talk with IBJ about his 53-year tenure with Centier Bank, the future of the company, his philosophy on leadership and his love of reading.
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Will Indiana join a wave of states offering new retirement savings option?
According to the U.S. Bureau of Labor Statistics, 30% of private-sector workers do not have access to a defined-contribution retirement plan through their employer.
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Articles
UPDATE: Jack’s Donuts businesses file for bankruptcy protection
Three related businesses operated by Jack’s Donuts owner and CEO Jack “Lee” Marcum III have filed Chapter 11 petitions, listing total liabilities of more than $20 million and assets of less than $1.6 million.
Banks, retailers run short on pennies after US Mint stops making them
Not one retailer or bank has called for the penny to stick around, but the abrupt decision to get rid of them came with no guidance from the government.
Federal Reserve cuts key rate, yet Powell says future reductions are not locked in
Chair Jerome Powell said in a news conference that another rate cut in December was “not a foregone conclusion.”
Trump administration narrows list of potential Federal Reserve chairs to 5
The names suggest that no matter who is picked, there will likely be big changes coming to the Federal Reserve next year.
Huntington Bancshares buying Cadence Bank in $7.4B all-stock deal
Super regional financial companies like Huntington have been growing considerably in recent years in order to better compete with the Wall Street titans in various businesses.
US home sales accelerated in September to their fastest pace since February
Mortgage rates started declining in July in the lead-up to the Federal Reserve’s decision last month to cut its main interest rate for the first time in a year amid growing concern over the U.S. job market.
Indianapolis startup bank Generations set to launch early next year with two retail locations
Generations is set to be Indiana’s first minority depository institution—and one of only 153 operating in the United States and its territories. But the bank will be open to anyone.
Fishers-based mortgage lender sues former employees for alleged breach of contract
The company alleges the two former employees signed an agreement that included a two-year noncompete clause as well as stipulations that they wouldn’t solicit customers on behalf of a competing company.
Wall Street sees major jump in profit, helped by soaring stock prices and dealmaking
Wall Street is having one of its best years in dealmaking in a long time. Initial public offerings are back, with several major companies going public this year.
AI jobs shock is coming and firms aren’t ready, financial CEO says
Klarna Group’s chief executive sees the AI boom spelling the end to what he calls “excess profits” in both the banking and software industries, as incumbents are overtaken by faster-moving challengers.
Fed minutes: Most officials supported further rate cuts as worries about jobs rose
The minutes provide insight into how the Fed’s policymakers were thinking last month about inflation, interest rates, and hiring.
Gold futures rise above $4,000 per ounce for first time
Gold futures are up about 50% since the start of 2025—trading as high as $4,013 per troy ounce by late morning Tuesday, before falling back just below $4,000 in the early afternoon.
Government shutdown threatens to stall recovery in IPO market
The IPO market is on track for its best year since 2021, according to Renaissance Capital.
Fifth Third Bancorp to buy Comerica for $10.9B in combination of big regional banks
Cincinnati-based Fifth Third is one of the largest banks doing business in the Indianapolis area, with more than $7.2 billion in local deposits, 44 area branches and 348 employees as of June 30, 2024.
Trump administration resumes student loan forgiveness
Even as the Education Department reopens loan forgiveness, the ongoing government shutdown could slow the agency’s ability to process discharges quickly.
Regions Bank economist sees more growth ahead
Regions Bank’s chief economist, in a visit to Indianapolis, said the metro area has been performing better economically than much of the country, in part because of the area’s diversified economy.
Federal shutdown cuts off economic data vital to policymakers and investors
If the shutdown is short-lived, it won’t be very disruptive. But if the release of economic data is delayed for several weeks or longer, it could pose challenges, particularly for the Federal Reserve.
Gold prices soar to new records amid US government shutdown
Gold sales can rise sharply when anxious investors seek “safe havens” for parking their money.
As stock market booms, Americans have more at stake than ever
Data from the Federal Reserve Bank of St. Louis showed that households and nonprofits were investing about 45.4% of their assets in corporate equities as of the second quarter of 2025—the highest exposure to stocks ever.