FINRA disciplines investment broker, administrator
Financial industry regulators have barred a Fishers investment broker for life for refusing to cooperate with an investigation, and suspended a local compliance officer for 14 months.
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Buck settlements cost Merrill Lynch $4.1M
Former Merrill Lynch broker Thomas J. Buck used to generate millions of dollars in annual revenue for the brokerage giant. But lately, he’s been costing it millions. Merrill Lynch has paid more than $4.1 million in settlements related to Buck’s alleged misconduct since firing him in March.
Will City Securities be next regional broker to sell?
The parent of City Securities Corp. finds itself at a crossroads with the May death of its 95-year-old vice chairman, Danny Danielson, and with his brother-in-law, Chairman John Peterson, approaching 83 years old.
Federal Reserve finally lifts key interest rate from near zero
The U.S. Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises.
Main Street’s muni-market fight with Fed gains force in Congress
Main Street and Wall Street are fighting the U.S. Federal Reserve over municipal bonds—and they’re gaining ground.
Notre Dame endowment jumps to $10.5B in value
University endowments with some of the highest one-year gains in fiscal 2015 were boosted by investments in private equity, venture capital and real estate, including the fund at Notre Dame.
Emmis again facing delisting after Nasdaq warning
Emmis Communications Corp. said it received a letter from Nasdaq on Monday notifying the company that its stock had closed below the exchange’s minimum $1-per-share requirement for 30 straight business days.
Lilly’s latest dividend increase carries on long tradition
Until impending patent expirations spurred the company to forgo a dividend increase in 2010, the company had announced dividend increases for 42 consecutive years.
Ex-Colt Freeney OK’d to pursue fraud claims against BofA
Former Indianapolis Colts player Dwight Freeney can proceed with his lawsuit alleging that Bank of America Corp. was complicit in a fraud scheme that caused him to lose more than $20 million, a judge ruled.
Fed’s Bullard says investors should prepare for uncertainty
Federal Reserve Bank of St. Louis President James Bullard said the Fed is “going to return to an era where there is a bit more uncertainty about what the committee is going to do, meeting to meeting.”
Pension Fund of the Christian Church president to retire
James P. Hamlett announced plans to step down from the $3 billion pension fund, which provides retirement benefits to clergy and lay church employees nationwide.
Veros investors out millions could recoup more than usual
The receiver appointed to recover investor losses from an alleged Ponzi scheme said he’s retrieved in five months about 20 percent of what investors were owed, a figure experts say is relatively high at this stage for such cases.
Angie’s List turns down $512M takeover offer
The Indianapolis company said in a press release that "it is premature to conclude that a strategic transaction is in the best interests of Angie's List shareholders."
First checks leave Durham victims underwhelmed
The $18 million payout to some 5,000 investors in Fair Finance Co. represents a recovery of about 9 cents on the dollar.
Fed’s most powerful trio keeps December rate rise on table
Federal Reserve Chairwoman Janet Yellen and New York Fed President William Dudley said the central bank could boost interest rates as soon as next month, while Fed Vice Chairman Stanley Fischer voiced confidence that inflation isn’t too far below the goal.
Indy Chamber beefs up its microlending territory
The U.S. Small Business Administration blessed the Chamber’s microlending division with a new designation, giving it more cash to deploy and a bigger geographical footprint.
Merger chatter casts cloud over Dow AgroSciences
Talk of synergies and consolidation may warm the hearts of investors, who are eager for Midland, Michigan-based Dow Chemical to boost returns, but they cast uncertainty over some of central Indiana’s best scientific jobs.
Fed keeps rate at record low after slowdown in job growth
The Fed offered little clarity on the likely timing of a rate hike. Some Fed officials have signaled a desire to raise rates before year's end. But tepid economic reports have led many analysts to predict no hike until 2016.
Forecast for 2016: Strategist says slow economic growth ahead
If the U.S. economy were a compact car, it would be running on just three of four cylinders. That was the central message of a Fifth Third Bank expert at IBJ's 2016 Economic Forecast on Wednesday.
Former Indianapolis developer tries to avoid return to jail
Sydney "Jack" Williams is at risk of going to jail for the second time since he avoided charges in a massive Ponzi scheme run out of Miami.