Fed ready to cut rates despite doubts that it can offset coronavirus effect
In question is how much effect rate cuts will actually have amid a health emergency that threatens to reduce both supply and demand in the economy.
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Stocks sink again, leaving Wall Street with worst week since 2008
The market clawed back much of its intraday losses in the last 15 minutes of trading. Bond prices soared as investors sought safety, pushing yields to record lows.
Prominent exec pulled into wife’s legal woes
The trustee in former Banc-Serv CEO Kerri Agee’s bankruptcy is suing her husband, Indianapolis businessman Ben Crawford, in an effort to recoup more than $1.4 million.
Stocks fall on Wall Street, head for worst week since 2008
U.S. stock markets saw more major declines Friday morning. Traders have been growing increasingly certain that the Federal Reserve will be forced to cut interest rates to protect the economy, and soon.
Dow plunges 4.4%, as potential coronavirus cases in California escalate anxiety
The three major U.S. stock indexes now are in correction territory, a 10% reversal from recent highs.
Carmel-based Shepherd Financial fueling growth with acquisitions
Shepherd Financial LLC is planning to grow its workforce by 50 employees over the next five years, tripling its statewide staff, with a majority of those hires in Carmel.
Pete the Planner launches ‘affordable’ financial advice service
Peter Dunn has launched Hey Money, a financial help subscription service that targets “consumers who don’t yet have the wherewithal to hire a fee-based money adviser.”
Stocks sink, bonds soar on fears virus will stunt economy
The benchmark S&P 500 has lost 7.6% over the last four days, its worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since summer 2015.
TurboTax maker Intuit buying Credit Karma in $7.1B deal
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.
Dow drops more than 1,000 points as fear of virus threatens global economy
The selling wiped out all of the Dow Jones industrial average’s gains for the year. The major U.S. stock indexes all fell more than 3%.
Global markets fall sharply as virus cases spread past Asia
The Dow Jones industrial average slumped more than 3% and gave up all of its gains for the year as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
Recovery for Durham fraud victims hinges on high-stakes trial
A federal judge in northern Ohio has set aside three weeks for the jury trial, which pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.
Former Noyes wealth adviser alleges sex discrimination
A former wealth adviser at David A. Noyes & Co. in Indianapolis has filed a sex discrimination lawsuit against the financial firm and longtime firm executive L.H. Bayley, 84.
Morgan Stanley to buy E-Trade for $13 billion
The biggest takeover by a major U.S. bank since the 2008 financial crisis combines Morgan Stanley’s prowess and client-facing resources with E-Trade’s more than 5 million customers.
IRS to pay visits to high-income taxpayers who fail to file
The agency said Wednesday that it is stepping up its efforts to visit high-income taxpayers who failed in prior years to file their tax returns on time.
Apple warns China virus will cut iPhone production, sales
The tech giant is warning investors that it won’t meet its second-quarter financial guidance because of the viral outbreak.
Woman allegedly embezzled $327K from her employer
An eastern Indiana woman who seemed upset when her employer offered her a promotion is now accused of embezzling more than $327,000 from the business following an audit by suspicious company officials.
401(k)s hit records as workers sock away more, stocks jump
Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. But workers’ better savings habits also played a big role.
McDonald steps down as ClearObject CEO to join venture fund
John McDonald said he’s taking a position with Boomerang Ventures to become more involved in the state’s startup ecosystem.
Fed chair: Economy looks resilient despite risk of China virus
Jerome Powell told Congress on Tuesday that the Fed is monitoring developments stemming from the coronavirus, which he said “could lead to disruptions in China that spill over to the rest of the global economy.”