Business

Business Briefs

Kontz qualifies to attend president’s conference Jim Kontz, LUTCF, MDRT, a local financial professional with The Prudential Insurance Company of America’s Twin Cities, qualified to attend the company’s President’s Conference held recently in Kohala Coast, Hawaii. The conference, ...

Turkish turmoil knocks US and European stocks lower

NEW YORK (AP) — Stocks in the U.S. and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system. Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country’s central bank as well ...

Business Briefs for Aug. 6

Polfliet earns state award Larry Polfliet was awarded the Minnesota Wastewater Operators Association 2018 Class SC Operations Award. This is for outstanding operation of the city of Marshall’s Sanitary Sewer Collection System for the past year. The MWOA is an organization of professional ...

US businesses cast wider net as jobless rate hits 3.9%

WASHINGTON (AP) — With the U.S. unemployment rate near a five-decade low, companies are looking harder for employees, and in some cases finding them right at their own workplaces. Businesses are adding more hours for part-timers and converting contractors to full-time workers. Americans ...

SEC drops investigation into Exxon climate change response

NEW YORK (AP) — The government has dropped a two-year investigation into how Exxon Mobil Corp. factors climate-change regulations into its calculations of the value of its assets, the company said Friday. The Securities and Exchange Commission informed the energy giant in a letter dated ...

US stocks rise as companies that pay big dividends surge

NEW YORK (AP) — U.S. stocks rose Friday after the Labor Department said hiring remained solid in July and strong quarterly earnings continued to boost the market. U.S. employers added 157,000 jobs last month, fewer than analysts expected. But the Labor Department said more jobs were added ...

Business Briefs for July 30

Erickson earns AFM Tyler Erickson, AFM, of Northwestern Farm Management Company, Marshall, has been awarded the Accredited Farm Manager (AFM) designation from the American Society of Farm Managers and Rural Appraisers. Erickson earned the AFM designation by meeting stringent requirements in ...

Facebook cleanup: Hurt the stock, help the world?

NEW YORK (AP) — It’s been a rough year for Facebook and its investors. Questions of data privacy, fake news proliferation and user growth have dogged the company. Now, it is investing heavily on fixing those problems. Not everyone is convinced of the solutions — but if you take Facebook ...

Plan for $4.5B wind farm scrapped after regulator’s denial

LITTLE ROCK, Ark. (AP) — A utility said Friday it is dropping plans for what would have been the largest wind farm in the country, a day after regulators in Texas rejected the $4.5 billion project. American Electric Power said it was cancelling plans for the 2,000-megawatt Wind Catcher wind ...

Tech stocks lead market lower again as Twitter takes a dive

Technology companies led a slide in U.S. stocks Friday, adding to the market’s losses from another tech-driven sell-off a day earlier. Twitter plunged more than 20 percent, its second-biggest loss since going public in 2013, after the social media network said its monthly users declined in ...

Facebook’s day of reckoning: Blip or sign of broader turn?

NEW YORK (AP) — Facebook faced a day of reckoning Thursday as its shares plunged in the biggest one-day drop in stock-market history. The 19 percent drop vaporized $119 billion of the company’s stock-market value; CEO Mark Zuckerberg saw his net worth fall by roughly $16 billion as a ...

Amazon’s quarterly profit tops $2 billion for first time

NEW YORK (AP) — Amazon’s quarterly profit soared past $2 billion for the first time as its online shopping, cloud computing and advertising businesses kept growing. The company, which has expanded far beyond its online bookseller beginnings, is also moving into health care and building up ...

Global whiskey industry leaders unite to denounce tariffs

LOUISVILLE, Ky. (AP) — Top global whiskey associations put aside their marketplace competition Thursday to show a united front in denouncing tariffs and urging world leaders to end their disputes before trade wars start siphoning global sales of distilled spirits. After two days of talks, ...

Business Briefs for July 23

Rutledge, Verdoes attend JFK annual convention Melissa Rutledge and Mallory Verdoes attended the 2018 Just For Kix Annual Convention with more than 170 Just For Kix Youth program directors from Minnesota, Nebraska, North Dakota, Texas, Iowa, Illinois, Wisconsin, Colorado, Oregon, Washington, ...

Stocks waver, dollar slips as traders shrug off trade talk

NEW YORK (AP) — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency. Companies including Microsoft and Honeywell rose as investors ...

Facebook suspends Boston analytics firm over data usage

NEW YORK (AP) — Facebook said Friday that it has suspended Boston-based analytics firm Crimson Hexagon while it investigates how it collects and shares Facebook and Instagram’s user data. Facebook has been facing increased scrutiny over how third-party firms use its data since news broke ...

Tracy EDA looking at new housing projects

TRACY — Tracy Economic Development Authority (TEDA) Director Jeff Carpenter told the city council at a recent meeting that TEDA has been talking about housing for nine months and things are beginning to take shape. “The lack of housing in Tracy is also happening in other cities, counties ...

Pence family’s failed gas stations cost taxpayers $20M+

GARDEN CITY, Ind. (AP) — Vice President Mike Pence turns nostalgic when he talks about growing up in small-town Columbus, Indiana, where his father helped build a Midwestern empire of more than 200 gas stations that provided an upbringing on the “front row of the American dream.” The ...

Federal Reserve projects further gradual hikes in key rate

WASHINGTON (AP) — The Federal Reserve said Friday it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for ...

Stocks shuffle toward another weekly gain as oil prices rise

NEW YORK (AP) — U.S. stock indexes are slightly higher Friday as energy companies rise with oil prices. Industrial companies and household goods makers are also higher. Banks are slipping as investors aren’t finding much to get excited about in second-quarter reports from JPMorgan Chase, ...