Breaking News

Business

S&P 500 posts biggest quarterly gain in a decade; Lyft soars

Stocks finished broadly higher on Friday as Wall Street closed out the first quarter with the market’s biggest gain in nearly a decade. The benchmark S&P 500 index is now up 13.1 percent this year, a drastic turnaround for stocks after a jarring 14 percent sell-off in the last three months of 2018. The market’s blockbuster quarter shared the spotlight with Lyft’s much-anticipated trading debut on the Nasdaq stock exchange. The ride-hailing company’s shares finished at $78.29, or 8.7 percent above its offering price of $72. New data pointing to lower inflation and renewed ...

Business Briefs for March 25

Great Western adds Ust as business banker Great Western Bank welcomes Matthew Ust as a business banker for its Marshall branch. A graduate of South Dakota State University, Ust has over 12 years of experience in the financial services industry with previous experience at U.S. Bank and Minnwest Bank. “We are very pleased to have Matthew join our team in the Marshall area,” said Rick Rysavy, regional retail manager. “His experience in financial services and commitment to community will have an immediate impact on our customers and the community of Marshall.” Ust is active ...

Fitting in

MINNEOTA — With the success of Minneota’s FIT 24 fitness center, the downtown business property known for many years as Ufkin’s will never be the same. Cari Pohlen, a 1995 Minneota High School graduate, has nearly a two-year track record of serving members and daily guests as the owner ...

Indonesian airline wants to cancel Boeing order

JAKARTA, Indonesia (AP) — In a blow for Boeing, Indonesia’s flag carrier is seeking the cancellation of a multibillion dollar order for 49 of the manufacturer's 737 Max 8 jets, citing a loss of confidence after two crashes within five months. It is the first announcement of a cancellation since Boeing’s new model aircraft were grounded following fatal crashes in Indonesia and Ethiopia. PT Garuda Indonesia, which had ordered 50 Max 8 jets in 2014 and had received just one plane last year, sent a letter to Boeing last week requesting to cancel the order worth $4.9 billion, ...

Stocks, bond yields fall sharply as growth worries spread

Wall Street was roiled Friday by new signs that global economic growth is slowing. The jitters triggered a sell-off in stocks and sent bond yields sharply lower, flashing a possible recession warning. The wave of selling knocked 460 points off the Dow Jones Industrial Average and gave the benchmark S&P 500 index its worst day since Jan. 3. The Russell 2000 index of smaller company stocks fell more than the rest of the market as traders offloaded risker assets. Worried investors shifted money into bonds, which sent yields much lower. The yield on the 10-year Treasury dropped to 2.43 ...

Trump administration announces new Venezuela sanctions

PALM BEACH, Fla. (AP) — The Trump administration stepped up sanctions on Venezuela Friday in response to the kidnapping of a top aide for an leader the U.S wants to see replace the embattled — but not yet ousted — President Nicolas Maduro. The Treasury Department announcement came while the President Donald Trump met with leaders from five nations in the Caribbean that generally support the U.S. call for an end to Maduro’s rule. Trump hosted them at his Mar-a-Lago club in Florida and pledged U.S. investment in their countries. The new sanctions, issued in response to the ...