Kittle’s Furniture invests in Zionsville online retail startup
Kittle’s Furniture has provided seed funding to accelerate retail startup ParkerGwen.com’s growth, the companies announced Monday.
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Heritage Group announces first accelerator class of companies
The 10 chosen companies deal with a diverse range of technologies, including advanced materials, construction, infrastructure, sensors and environmental services, according to Heritage Group officials.
IBJ Podcast: Pete The Planner on how to prepare for the next recession
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.
Ousted CEO of Noyes sues investment firm
Mark Damer of Carmel, 62, filed suit against Noyes last month in Hamilton Superior Court. Damer’s complaint says his termination was in violation of the employment agreement he had signed months earlier, and that, after his termination, Noyes denied him access to records related to the Bayley Investment Group.
Treasury unveils plan to privatize Fannie Mae, Freddie Mac
The administration’s plan calls for returning Fannie and Freddie to private ownership and reducing risk to taxpayers, while still preserving homebuyers’ access to 30-year, fixed-rate mortgages, a pillar of housing finance.
Former Indianapolis payroll exec pleads guilty in $9.4M fraud scheme
David Downey, 50, faces a possible prison sentence of up to six years, plus fines of up to $750,000.
The spy in your wallet: Credit cards have privacy problem
You might think a 29-cent swipe for a banana at Target would be just between you and your bank. Heavens, no. The purchase generates data that ends up with marketers, Target, Amazon, Google and hedge funds, to name a few.
Investors hope Federal Reserve leader’s speech offers clarity
Against the backdrop of a vulnerable economy, Federal Reserve Chairman Jerome Powell takes center stage Friday with the financial world seeking information on whether last month’s first Fed rate cut in a decade likely marked the start of a period of easier credit.
Former Indianapolis broker barred from working in industry
The former Charles Schwab broker allegedly used a client’s tax refund for personal use, which led to his termination.
Indiana Members Credit Union acquiring community bank for nearly $35M
The Indianapolis area’s largest credit union is joining a small but growing movement in the financial services industry by agreeing to acquire a community bank.
Trump calls on Federal Reserve to make ‘substantial’ rate cuts
President Trump said that the Fed’s high level of interest rates in comparison to other countries was keeping the dollar too strong and making it more difficult for U.S. manufacturers to compete.
Hoosiers in best position to pay off credit card debt, study says
Analysts from the personal finance web site WalletHub used data from the U.S. Census Bureau, the Federal Reserve and TransUnion to see how each state is faring when it comes to credit card debt.
Treasury Department designates China a ‘currency manipulator’
The United States and China traded blows in an unrestrained economic conflict Monday that sent stock markets plunging and threatened to inflict significant damage on a weakening global economy.
Stocks suffer worst drop of the year after China counters tariffs with cheaper currency
Major stock indexes dropped dramatically on Wall Street on Monday, their worst loss of the year, after China countered President Donald Trump’s latest tariff threat by letting its currency weaken to the lowest level in more than 10 years.
Hoosier banks post increases in profit
Old National Bancorp, the largest Indiana-based bank, reported a 43% increase in second-quarter profit.
Bank of America brings in commercial banking exec
Lucia Mar, 47, is filling the the newly created position of Indiana market executive for global commercial banking.
Developers, investors race to capitalize on ‘opportunity zones’ tax break
The federal “opportunity zones” initiative, designed to spur investment in low-income communities nationwide, is still in its early stages—but it’s already grabbed the attention of local developers and investors. Created as part of the federal tax legislation known as the Tax Cuts and Jobs Act of 2017, the initiative offers substantial tax breaks to those […]
Celadon lines up $165M in new financing, to replace aging fleet
Celadon CEO Paul Svindland said the financing would provide “a solid platform for the next stage of our business turnaround.”
Federal Reserve poised to cut rates for first time in decade
Under Chairman Jerome Powell, the Fed has faced pressure to ease credit since it raised its key rate in December for the fourth time in 2018 and hinted that additional rate increases were likely this year.
Arrest made after massive Capital One data breach
A hacker gained access to personal information from more than 100 million Capital One credit applications, the bank said Monday as federal authorities arrested a suspect in the case.