The Indianapolis-based startup is developing drugs targeting brain and bowel disorders.
Venture firm opening Indy office to target the overlooked
Cincinnati-based Lightship Capital is opening an Indianapolis-area office within three months to provide underrepresented entrepreneurs here access to a $50 million investment fund.Read More
Brothers to funnel $4.5M into companies stung by pandemic
Sensing an investment opportunity—and a chance to do good—the four Litt brothers have set aside for investment a portion of the $40 million they reaped from the 2019 sale of their transportation-management firm, Reliable Source Logistics.Read More
Finance vets angle for control of Protective Insurance
The business—formerly Baldwin & Lyons Insurance—is one of central Indiana’s oldest public companies.Read More
Indiana credit unions pursue growth by buying banks
The banking industry, which argues that credit unions’ tax-exempt status gives them an unfair edge, objects to the trend.Read More
The Federal Reserve says that its Main Street Lending Program designed to help small and medium-sized companies get through the pandemic has managed to make just eight loans in its first month of operations.
But bankers say bricks-and-mortar branches are still important for a variety of reasons.
Amid the economic uncertainty—even though some banks express reasons for optimism—Indiana-based financial institutions are preparing themselves now for the losses that likely lie ahead.
Besides keeping short-term rates pinned at nearly zero, the Federal Reserve also said it will continue to buy about $120 billion in Treasury and mortgage bonds each month to support the economy.
The extension of seven emergency lending programs through the end of the year is an acknowledgement that the programs might be necessary for longer than was first thought as the nation struggles to control the coronavirus.
The Carmel-based insurer for years has been managing the fallout of a deal it cut in 2013 that was supposed to reduce risk but instead blew up in spectacular fashion.
The rally, which gained strength in the final hour of trading, nudged the benchmark S&P 500 index to a slight gain for the year and drove the Nasdaq composite to an all-time high.
Of the 20 banks issuing the most PPP loans to Indiana borrowers, 11 were headquartered in the state—many of which went to extraordinary lengths to extend as many loans as they could.
The Fed said Friday that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to not-for-profits with at least 10 employees and endowments of less than $3 billion.
The market’s latest moves came as earnings reporting season kicked off. Like the broader market, financial stocks drifted between gains and losses for much of the day before turning higher in the afternoon.
The results from JPMorgan Chase, Wells Fargo and Citigroup on Tuesday offer perhaps the broadest glimpse yet into how badly the pandemic is affecting the financial health of American consumers and businesses.
The interview process could be mostly, or entirely, virtual—even if the job itself isn’t slated to be. Standard interview advice still applies: Dress professionally, ask smart questions and so on. But you should also adopt a few new best practices.
The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds.
In Indiana, more than 90% of federal loans topping $150,000 went to companies, according to the Treasury Department data. About 6% of the loans went to not-for-profit organizations.
The S&P 500 index posted its fifth straight increase, its longest winning streak since December, as Amazon.com Inc. shares rose past $3,000 for the first time.
In all, the list includes 2,499 Indianapolis entities and 11,853 entities statewide that received Paycheck Protection Program loans of $150,000 or more. The list includes the Indianapolis Business Journal, which received a loan of between $350,000 and $1 million.
Prospects for the legislation in the House, however, were uncertain. Both chambers are set to adjourn for a two-week recess by week’s end.