Business

Powell signals more hikes ahead

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Powell added that while annual inflation has risen to near the Fed’s 2 percent target rate, it ...

S&P 500, Nasdaq and Russell 2000 close at record highs

Wall Street ended a week of milestones with a few more Friday. The benchmark S&P 500 index closed at an all-time high, just two days after the current bull market in U.S. stocks became the longest in history. The Nasdaq composite and the Russell 2000 indexes also ended the day at all-time ...

Room to move

WOOD LAKE — D&D Schwerin Trucking of rural Wood Lake is bursting at the seams and needs more office space to meet its goal of communicating better with its customers. “We’re a data-driven company,” owner/partner Dave Schwerin said. “There’s not enough space for (all the ...

Trump asks SEC to consider ending required quarterly reports

WASHINGTON (AP) — President Donald Trump is calling on federal regulators to consider scrapping the requirement for public companies to report quarterly results, after business executives told him twice-yearly reports would make better economic sense. In a tweet Friday, Trump said that ...

Stocks jump as hopes rise for progress on China trade talks

NEW YORK (AP) — Stocks rose late in the day Friday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported that the countries hope to have a resolution by November. Industrial, health care and basic materials ...

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 ...