Yellen says ‘case for an increase’ in rates has strengthened
Federal Reserve Chairwoman Janet Yellen sketched a picture Thursday of an improving U.S. economy. The Fed is widely expected to raise the federal funds rate when it meets in mid-December.
Banking & Finance
Articles
Firms’ infatuation with buybacks creating economic drag
Investment strategist Jeff Korzenik said executives often have an incentive to buy back stock rather than using that cash to make capital expenditures.
Drugmakers’ stocks jump on promise of Trump presidency
Pharmaceutical company stocks were among the winners in early trading Wednesday as Republicans’ sweeping election victory eased concerns that Democrats would enact controls on drug prices. Eli Lilly and Co. shares jumped 4 percent.
Global markets rocked as traders see pathway for Trump victory
Global markets were thrown into disarray as early results from the U.S. election raised the possibility that Donald Trump may prevail over Hillary Clinton in the race for the presidency.
Woman gets almost 4 years in prison for $5.5M embezzlement scheme
A federal judge sentenced an Indianapolis financial executive to 46 months in prison after she pleaded guilty to charges related to stealing money from her former employer.
Stonegate quarterly results improve as revenue surges
Stonegate Mortgage Corp. on Thursday reported a third-quarter profit of $15.6 million in the third quarter after revenue jumped 159 percent from a year ago.
Fed widely expected to leave key interest rate unchanged
With voters set to choose a new president and Congress in six days, the Federal Reserve will likely keep a low profile when it ends a meeting Wednesday to try to ensure it doesn't become part of the debate at the close of a tumultuous political campaign.
Angie’s List hires investment bankers, setting stage for possible sale
The home services marketplace did not specify it planned to sell itself, but hiring investment bankers is typically the first step in doing so. In a press release, CEO Scott Durchslag said only that the goal was “to achieve the full potential of our new platform.”
In economic ballgame, U.S. is in ‘seventh inning,’ strategist says
The chief investment strategist for Fifth Third Bank on Friday tried to temper optimism in an economic forecast for 2017, noting global headwinds that could curtail growth.
Angie’s List board departures followed push by activist
A Washington, D.C.-based investor who had wanted two longtime board members of Angie's List Inc. to quit got his wish in early October.
Hofmeister retail property headed for foreclosure sale
The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.
Former controller of Estridge Homes accused of $364K fraud scheme
Thomas Carter of Fishers has been charged with bank fraud after allegedly siphoning funds from his employer for more than three years.
TD Ameritrade to buy Scottrade in $4B cash-and-stock deal
Online brokerage TD Ameritrade is buying Scottrade in a deal that would significantly expand its branch network at a time when many financial firms are expanding automated adviser programs.
First Internet reports record quarterly earnings
Fishers-based First Internet Bancorp on Thursday reported rising earnings for the ninth time in 10 quarters.
Veteran portfolio manager joins Stifel Nicolaus
Thomas Pence, one of the area’s most renowned stock pickers, has joined Stifel Nicolaus & Co. after 16 years as managing partner and portfolio manager with Wells Capital Management.
Hoosier VC haul soft in 3rd quarter, but year has been strong
Hoosier companies raised about $12.1 million from venture capitalists in the third quarter—a small haul compared to previous quarters, but enough to keep the state on track for a relatively strong year.
Victims to collect money soon in Veros case
The court-appointed receiver in an alleged $8.6 million Ponzi scheme perpetrated by Indianapolis-based Veros Partners Inc. is preparing to make his first distribution to affected investors.
Banks ramp up push to bring ‘unbanked’ into fold
Financial institutions in central Indiana are increasingly rolling out services aimed at the 765,000 Hoosier households who have no banking relationship or have accounts but also use alternative financial services such as check-cashing shops.
Banks look to pay more to retain employees
A survey found bank employees are changing jobs at the fastest pace in a decade, with non-officer turnover at 18.7 percent and officer turnover at nearly 7 percent.
PNC survey finds business owners are optimistic
Small and midsize business owners in Indiana expect the state’s economy will continue to grow at a slow and steady pace, even though they are dissatisfied with the economic plans of both presidential candidates, according to newly released data.