S&P 500, Dow industrials, NASDAQ close at record highs
Investors extended a rally through a holiday-shortened day and pushed major stock indexes to record highs on Wednesday.
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KAR leader Hallett ‘extremely happy’ with spinoff of IAA business unit
The separation of KAR Auction Services and Insurance Auto Auctions is already creating shareholder value, CEO Jim Hallett said.
S&P 500 hits all-time as U.S.-China trade truce spurs optimism
The broad rally came after the world's two biggest economies agreed over the weekend to resume negotiations.
Local investment adviser loses state insurance license
The owner of Pendleton-based Steele Financial Inc., who is already in hot water with the Financial Industry Regulatory Authority and the SEC, has been stripped of her license by the Indiana Department of Insurance.
Worker pension plan lawsuits draw review from U.S. Supreme Court
The U.S. Supreme Court agreed to consider giving workers who participate in pension plans more ability to sue when they believe the money is being mismanaged.
Powell reiterates stronger case for cut amid economic risks
Federal Reserve Chairman Jerome Powell said that the downside risks to the U.S. economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates.
Local investment adviser facing lawsuit over soured business deal
In the lawsuit, a Pendleton financial adviser says he purchased client accounts from a fellow adviser who then defamed him and persuaded some of those clients to move their money elsewhere.
Company that proposed Carmel event center accused of fraud in federal suit
A small group of retirees paid a combined $6.2 million last year for stakes in a proposed event center in Carmel that never was built. The investors claim they were duped in a vast fraud involving financial advisers, a property broker and a bankrupt company called Noah Corp.
Fed likely to leave rates alone but signal readiness to cut
Economists say when—or even whether—the Fed eases credit this year will depend on a host of factors that are hard to predict.
City to unleash millions in tax credits for ‘signature’ projects
The city of Indianapolis is set to receive $55 million in New Markets Tax Credits from the U.S. Department of the Treasury, which it will use to finance high-impact projects in low-income or distressed areas.
DePauw grants $1M from endowment to student investment group
For most of the school year, the DePauw Investment Group oversaw only about $160,000. But the stakes skyrocketed in April when DePauw’s board of trustees added $1 million from the university’s $731 million endowment.
Supreme Court to hear bid to limit retirement-plan lawsuits
The U.S. Supreme Court agreed to use an appeal by Intel Corp. to consider tightening the deadlines for lawsuits over the investments made by worker retirement plans.
Fed rate cut looks more likely, but question is when, how big?
Fed watchers say the latest economic data boost the odds that central bank will move sooner rather than later to lower rates.
Bloomington software firm nabs $10 million investment
FormAssembly launched in 2006 and this is first time it will take outside money. The company says the investment comes in the midst of a wave of consumer demand for data regulation.
Powell hints Fed will cut rates if needed over trade wars
Expectations are rising that the Fed will cut rates at least once and possibly twice before year's end, in part because of the consequences of the trade war.
U.S. stocks slump after China trade outlook sours
U.S. stock indexes suffered their worst day since March on Tuesday as investors remained on edge over President Donald Trump’s threat to increase tariffs on billions of dollars of imports from China.
Fed foresees no rate hikes amid unusually low inflation
The Federal Reserve signaled that no rate hikes are likely in coming months amid signs of renewed economic health but unusually low inflation.
Fed likely to underscore a message: No rates hikes in 2019
The Federal Reserve this week will likely reinforce a theme that has cheered consumers and investors since the start of the year.
Angel investor network VisionTech fills need for startup funding
Founded in 2014, VisionTech has seen its membership, or investors—as well as the amount invested by those members—swell significantly in the last two years.
Managed-care stocks continue to tumble amid uncertainty in health care
Shares in Indianapolis-based Anthem Inc. and other health insurance stocks were still falling Friday morning amid political turmoil over health care and drug prices.