As rate hike nears, Fed's hints on future to be scrutinized
Martin Crutsinger AP Economics Writer - WASHINGTON — It's not about what it will do. It's about what it will say. The worst-kept secret in the financial world is that the Federal Reserve is all but...
View ArticleFed lifts key interest rate from near zero
Martin Crutsinger AP Economics Writer - WASHINGTON — The Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that additional rate hikes will likely be made...
View ArticleKaufman Financial adds another Canadian company to portfolio
Crain's Detroit Business - Farmington Hills-based H.W. Kaufman Financial Group, a global network of companies that handle insurance distribution, brokerage and underwriting, among other services, made...
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Huntington Bank adds branch in Mexicantown
Tom Henderson - Huntington Bank will open a branch in southwest Detroit on Friday with a ribbon cutting at 1 p.m. The branch is at 7740 W. Vernor Highway. This follows the opening of 43 new branches...
View ArticleMSU formally unveils new center to help municipalities manage finances
Lindsay VanHulle - LANSING — Michigan State University is offering a new resource to cities that want help with managing finances and budgets. The East Lansing university’s MSU Extension service is...
View ArticleCrain publication Pensions & Investments acquires 2 global pension industry...
Crain's Detroit Business - Pensions & Investments, a publication of Detroit-based Crain Communications Inc., has acquired two pension industry summits, the WorldPensionSummit and WorldPensionSummit...
View ArticleMichigan has nearly $575 million surplus ahead of Snyder's 2017 budget proposal
Lindsay VanHulle - LANSING — Michigan has a roughly $575 million budget surplus due to higher income tax collections and unspent funds last year, state budget administrators said Thursday. All but $50...
View ArticleBeaumont, Trinity, McLaren find time is right for bond sale
Jay Greene - After several years of waiting for the tax-exempt bond market to improve, Beaumont Health and several other hospital systems based in Southeast Michigan have found the water is just right...
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Lending grows as commercial mortgage market stabilizes
Kirk Pinho - Some real estate finance experts predicted turbulent seas ahead two years ago, expecting a wave of defaults on commercial mortgages issued during the free-lending heyday in the mid-2000s....
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Broe Group manager likes Ann Arbor flow
Tom Henderson - The Broe Group of Denver has more than 1,000 employees in North America in real estate management, logistics and transportation. It also funds Three Leaf Ventures, a venture capital...
View ArticleAngel Fund ends 2015 flying high
Tom Henderson - It was a busy final quarter in 2015 for the Ann Arbor-based Michigan Angel Fund, which was launched in 2011 by Ann Arbor Spark and the Michigan Economic Development Corp. The...
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Former Borders executive turns a page in funding his book content company
Tom Henderson - Ann Arbor-based ContentOro LLC, a company that specializes in selling content from books to websites that need content, has started raising a funding round of between $500,000 and...
View ArticleMSU launches new incubator program
Tom Henderson - Michigan State University has announced a new incubator program aimed at turning students' ideas into companies ready for angel and venture capital funding and commercialization.The...
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Ann Arbor's Companion LLC a case for not grabbing VC too soon
Tom Henderson - Adam Wyden, who runs a private equity fund in New York, had words of advice for Companion LLC, a Web-based company in Ann Arbor that had venture capitalists flying in from California...
View ArticlePlymouth Venture leads Wellspring investment round
Tom Henderson - Ann Arbor-based Plymouth Venture Partners has led a Series B investment round of $6 million in Wellspring Worldwide, a Chicago-based company that helps companies, hospitals and...
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Palazuelo sets sights on more property in Detroit
Kirk Pinho - The owner of the Packard Plant says he has another 1.5 million square feet of industrial space in the city under contract with plans for a large scale mixed-use conversion. Fernando...
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Packard Plant's owner says project moving forward despite loss of $80 million...
Kirk Pinho - Fernando Palazuelo has had to make a course correction on the financing of his Packard Plant redevelopment project after a collapse in a key financing agreement. Palazuelo, who owns the...
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2015 VC deals set record; now, 2016 takes the baton
Tom Henderson - It was a record-breaking year for venture capital in Michigan in 2015, with 2016 starting up where last year left off. Industry veterans point to robust deal flow, record-breaking...
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Chase, Southwest Solutions launch zero-interest loan program for Detroit...
Tom Henderson - Southwest Solutions, J.P. Morgan Chase & Co. and Mission Asset Fund announced Thursday that they have launched Lending Circles, a new loan program that allows Detroit residents to...
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Local observers applaud Chemical-Talmer deal; Wall Street not so sure
Tom Henderson - Local industry watchers are applauding last week's announcement that Midland-based Chemical Financial Corp. has agreed to buy Troy-based Talmer Bancorp Inc. for $1.1 billion.But Wall...
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