Judge nearly sends Durham back to halfway house
Magistrate Judge Kennard Foster said Durham should not continue living at his sister’s house or move back to his mansion because both are in foreclosure.
Banking & Finance
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Economy still tough, but a few Hoosier industries on upswing
Two years into the economic recovery, bright spots in the Indiana job market are still hard to find. The insurance industry is one of the few glimmers of light on Indiana’s horizon. Others include engine makers, nursing homes and temp agencies.
Probe: Investment adviser Hauke masked huge loss
Fishers investment manager Keenan Hauke suffered massive losses in his hedge fund seven years ago. Then, rather than fess up, he generated fake account statements for clients that showed money they didn’t really have and returns they hadn’t earned, state investigators allege.
Racinos ask federal court to lower their tax liability
If Indiana Live and Hoosier Park prevail, the racetrack-casinos may cut they could cut their combined tax bill by $30 million a year.
Veteran banker Alley found Integra too sick to save
With reluctance, Mike Alley, a veteran Indianapolis banker, joined the board of Evansville-based Integra Bank in April 2009. A month later, he found himself CEO—the beginning of a 26-month odyssey that ended July 29 with banking regulators seizing and shutting down the 160-year-old institution.
UPDATE: Stocks plunge again on more economic fears
The U.S. and European economies are "dangerously close to recession," Morgan Stanley economists wrote in a report.
First Financial buying Flagstar’s 22 Indiana branches
First Financial said the $23 million purchase gives it a rare opportunity to expand its presence in the Indianapolis metro area at a time there are few acquisition targets available.
Durham asks to move back into his mansion
Indicted financier Tim Durham has asked a federal judge to allow him to move from his sister’s home in Geist back to his 20,000-square-foot mansion. Durham has been living with his sister on home detention since his April arrest.
U.S. stocks open higher after positive retail report
A strong report on retail sales in July helped send U.S. stocks higher early Friday after a week of record-setting losses and gains on Wall Street.
SKARBECK: Market volatility should be seen as an opportunity
To a long-term, value-oriented investor, volatility should be viewed as opportunity. The crazy prices that are occasionally offered up by a roller-coaster market in periods of uncertainty allow for the purchase of undervalued securities.
HICKS: Investors downgrade Standard & Poor’s political ploy
There are many reasons to believe the second half of the year will bring a faster-growing economy.
Weak market could derail Allison’s planned IPO
Indianapolis-based Allison Transmission in March said it planned to raise $750 million through a public stock sale, but the economic outlook has darkened since then.
UPDATE: Stocks soar on small positive economic signs
Wall Street's wildest week since 2008 continued with another 500-plus point move for the Dow on Thursday.
Fed to keep interest rate near zero for 2 years
The Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought and faces increasing risks.
Late surge gives stocks largest advance in two years
U.S. stocks on Tuesday rallied after the Federal Reserve said it was prepared to use a range of tools to bolster the economy.
Indiana stocks part of massive Wall Street sell-off
Stock prices hurtled lower Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt. Indiana stocks were part of the carnage.
Local stocks pummeled in global sell-off
Stock prices of the dozen largest public companies in the Indianapolis area all tumbled Monday morning as a Standard & Poor’s downgrade of U.S. debt spooked investors worldwide.
1,300 Hoosiers eligible for United Financial restitution
Indiana Attorney General Greg Zoeller said more than 1,300 Hoosiers are eligible for restitution from United Financial Systems Corp. in the wake of a court ruling against the Indianapolis-based company. The company also faces at least two class-action lawsuits.
Stocks go on roller coaster ride after jobs report
Market swings continued all day after a better-than-expected employment report. By the market's close, the Dow was up 60 points, or 0.54 percent, to 11,444.
KIM: Managers with skin in game most likely to perform well
It seems perfectly logical that you want to invest with a manager or fund where the manager has a significant amount invested alongside you.