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EU fines global banks $2.3B for market rigging
AMSTERDAM -- The European Commission has fined a group of major global banks a total of $2.3 billion for colluding to profit from the manipulation of key interest rates. The banks that received fines, which include JPMorgan, Citigroup and Deutsche Bank, are accused of manipulating for years European and Japanese benchmark interest rates that affect hundreds of billions of dollars in contracts globally, from mortgages to credit card bills...
Missouri Boeing incentives could total $1.7B
JEFFERSON CITY, Mo. -- Missouri senators hoping to land production of a new Boeing airplane were set to begin debate today on a package of incentives valued at up to $1.7 billion over two decades. The proposed incentives -- which are dependent on the creation of thousands of new jobs -- cleared their first test Tuesday evening by flying through a Senate committee that heard testimony from a large contingent of St. Louis area officials backing the plan...
Mo. starts session on Boeing incentives
JEFFERSON CITY, Mo. -- Missouri lawmakers were seeking additional information as they started work Monday on an incentives package aimed at winning production of Boeing's new 777X commercial airplane. A special legislative session called by Gov. ...
Jackson aldermen choose narrow-network insurance plan for city employees
The Jackson Board of Aldermen on Monday unanimously passed an ordinance authorizing a contractual agreement with United Healthcare to provide health insurance for the close to 130 city of Jackson employees. Jim Roach, Jackson city administrator, said Monday the board chose to switch health insurance providers from Anthem Blue Cross/Blue Shield to United Healthcare of Maryland Heights, Mo., and in turn, switch to a narrower network...
Amazon: Drones could deliver packages in less than 30 min.
NEW YORK -- Amazon is working on a way to get packages to customers in 30 minutes or less -- via self-guided drone. Consider it the modern version of a pizza delivery boy, minus the awkward teenager. Amazon.com Inc. says it's working on the so-called Prime Air unmanned aircraft project but it will take years to advance the technology and for the Federal Aviation Administration to create the necessary rules and regulations...
Record crowds hit the stores over Black Friday weekend
NEW YORK -- Did stores shoot themselves in the foot? Target, Macy's and other retailers offered holiday discounts in early November and opened stores on Thanksgiving Day. It was an effort to attract shoppers before Black Friday, the day after Thanksgiving that traditionally kicks off the holiday shopping season...
Business Notebook 12/2/13
firstname.lastname@example.org 388-3632 Pertinent addresses: 57 S. Plaza Way, Cape Girardeau, MO 465 S. Mount Auburn Road, Suite 103, Cape Girardeau, MO 125 S. Broadview, Suite 11, Cape Girardeau, MO 1527 S. Perryville Blvd., Perryville, MO...
People on the Move 12/2/13
Gardner named to board of law examiners Michael Gardner of Cape Girardeau has been appointed by the Missouri Supreme Court to the state board of law examiners. The board is responsible for administering the bar exam and evaluating applicants' character and fitness for admission to the practice of law. Gardner practices with Osburn, Hine, Yates and Murphy LLC in Cape Girardeau...
Mexican drug cartels deal in ore
MEXICO CITY -- Mexican drug cartels looking to diversify their businesses long ago moved into oil theft, pirated goods, extortion and kidnapping, consuming an ever larger swath of the country's economy. Federal officials confirmed the cartels have even entered the country's lucrative mining industry, exporting iron ore to Chinese mills...
Union Co. to develop future entrepreneurs
Union County is the next in line to offer a program that will develop the talents of future entrepreneurs. What makes the program different is that it involves high-school students taking the course outside the school building and in the business community for two course credits...
Bob Drury, part owner of Drury Hotels, CEO of Drury Southwest, dies
Robert "Bob" A. Drury, seen as a pioneer in the hotel, land development and contracting industries, died Thursday at his home in San Antonio. He was 81. Drury was CEO of Drury Southwest, which includes hotels, a bowling alley, real estate development and outdoor advertising, according to the firm's website and Walter Ford of Ford & Sons Funeral Home, which is handling arrangements...
Black Friday hasn't yet lost its allure
West Park Mall in Cape Girardeau was crowded with people of all ages, their hands full of colorful shopping bags stuffed with merchandise, as they made their way in and out of stores for the annual -- if unofficial -- day-after-Thanksgiving shopping holiday...
Nixon calls special session for Boeing incentives
JEFFERSON CITY, Mo. -- Gov. Jay Nixon wants state lawmakers back at the Capitol this week in hopes of persuading the Boeing Co. to land its new 777X jet plant in Missouri. Nixon on Friday called a special legislative session to begin Monday to approve an economic incentives package of up to $150 million annually he said must be completed quickly before Boeing decides where to the build the new commercial airplane...
Downtown has giveaways for Small Business Saturday
Between the shopping frenzy associated with Black Friday and Cyber Monday falls Small Business Saturday, an initiative started by American Express in 2010 that encourages people to shop locally the Saturday after Thanksgiving. Retail tax revenue earned from buying local products and services helps fund city services and keeps more money in the community...
Shoppers get early jump on Black Friday
Many area stores that opened their doors Thanksgiving evening for early Black Friday discounts on merchandise were greeted by lines of customers despite the holiday. The Friday after Thanksgiving is known to kick off the holiday shopping season as crowds of shoppers wake up early -- or stay up late -- to score deep discounts on merchandise. Some stores this year offered Black Friday discounts on Thanksgiving Day...
U.S. home permits rise at 5-year high on apartments
WASHINGTON -- U.S. developers received approval in October to build apartments at the fastest pace in five years, a trend that could boost economic growth in the final three months of the year. Permits to build houses and apartments were approved at a seasonally adjusted annual rate of 1.034 million, the Commerce Department said Tuesday. That's 6.2 percent higher than the September rate of 974,000 and the fastest since June 2008, just before the peak of the financial crisis...
Dow, S&P 500 nudge higher; Nasdaq ends above 4,000
NEW YORK -- Upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged the stock market higher Tuesday. Investors also got another market milestone when the Nasdaq composite closed above the 4,000-point mark for the first time in 13 years...
Black Friday brings big business to local retailers
Area stores are turning on holiday music, decorating for Christmas and preparing for the holiday shopping season -- particularly Black Friday. The Friday after Thanksgiving is known as the kick off of holiday shopping as crowds of shoppers wake up early, or stay up late, to score deep discounts on merchandise...
Analysis: Missouri tax policy dates to Depression
JEFFERSON CITY, Mo. -- The U.S. was in the throes of the Great Depression when Missouri legislators decided to impose a 4 percent tax on personal income over $9,000 as a means of funding state government. That decision has stood for decades, even as it has become increasingly outdated...
Mo. businesses paying more for jobless benefits
JEFFERSON CITY, Mo. -- Missouri businesses will pay higher unemployment taxes next year in order to pay down a state debt to the federal government. Missouri began borrowing from the federal government in 2008 to pay jobless benefits after an economic downturn drained the state's unemployment benefits trust fund. That debt has remained outstanding for several years...
Business Notebook: Saint Francis, school board officials meet about health plan
Emily Sikes, account services coordinator of Saint Francis Medical Center's marketing department, on Friday said Cape Girardeau Public School District superintendent Dr. James Welker and assistant superintendent of support services Neil Glass met with president and CEO of Saint Francis Steven Bjelich as well as Saint Francis vice president of finance Tony Balsano regarding the hospital's announcement of a program that will reimburse school district employees up to $500 per family if they choose to include the hospital in their 2014 insurance network.. ...
People on the move 11/25/13
The Missouri Hospital Association board of trustees has appointed Saint Francis Healthcare System president and chief executive officer Steven Bjelich as state alternate delegate to the American Hospital Association Region 6 Policy Board. ...
Judge denies new trial against Monsanto
OXFORD, Miss. -- A federal judge has denied a motion for a new trial from a north Mississippi company sued by Monsanto Co. for saving seeds from one harvest and planting them the following season. U.S. District Judge Michael Mills ruled this week that Mitchell and Eddie Scruggs owe Monsanto Co. $6.3 million in damages as a jury found in 2010. Prejudgment interest dating back to 2000 has increased the amount to $8.9 million...
Americans not willing to spend without deals this holiday season
NEW YORK -- This holiday season, Americans may not spend their green unless they see more red. Despite signs that the economy is improving, big store chains like Wal-Mart and Kohl's don't expect Americans to have much holiday shopping cheer unless they see bold, red signs that offer huge discounts. As a result, shoppers are seeing big sales events earlier and more often than in previous holiday seasons...
Restaurant chains expand in Alaska
ANCHORAGE, Alaska -- When the Dairy Queen opened in Anchorage in 2006, it was big news. People stood in a line that stretched for two blocks just to get an ice cream cone, and drive-thru traffic backed up just as long. Residents weren't just excited about the treats. They were elated that the Dairy Queen was in the city at all...
Power plant's future worries Ill. town
NEWTON, Ill. -- Tiny Newton swaddles itself in all things Burl Ives, the folksy Oscar-winning actor who hailed from around the Illinois farm town of 2,850 near Effingham. The Embarras River bridge bearing his name is along the way to the rural graveyard where since 1995 he's spending eternity, and there's a push to raise $35,000 to pay for an Ives memorial on the town square...
JPMorgan, gov't reach $13B deal on mortgage bonds
WASHINGTON -- JPMorgan Chase & Co. has agreed to pay $13 billion in a landmark settlement and acknowledged that it misled investors about the quality of risky mortgage-backed securities before the 2008 financial crisis. The settlement announced Tuesday with the Department of Justice is the largest ever between the U.S. government and a corporation. It also included settlements with New York, California and other states...
Jackson aldermen table rezoning, permit after public hearing
Because of objections voiced during public hearings, the Jackson Board of Aldermen unanimously tabled ordinances for rezoning of a parcel of land and the issuance of a special-use permit at its meeting Monday. The vote to table the items came after public hearings held during the meeting that addressed rezoning of a section of land at the intersection of East Main Street and North Oak Hill Road and issuing a special-use permit so town-house apartments could be built on the property. ...
Passport process slowed because of understaffing, local business owner says
Carolyn Kempf, owner of Elite Travel Inc. travel agency in Cape Girardeau, could not figure out why, over the course of four to five days, the Cape Girardeau post office's phone line gave a busy signal every time she called. She thought the office may be busy, or a phone line was down...
People on the move 11/18/13
People on the move State Rep. Kathy Swan of Cape Girardeau was named the 2013 Legislative Freshman of the Year at the Missouri Chamber of Commerce and Industry annual meeting and awards banquet Thursday in Kansas City, Mo. Swan received the freshman of the year award in her capacity as a member of the House of Representatives. Swan was also among nine lawmakers who were named to the chamber's 100% Club...
Our automobiles are a vital part of our lives, and we expect an awful lot of them. Doesn't it make sense, then, that we give these vehicles the attention they deserve? And doesn't it make sense that this attention starts with the tires, which bear the weight of our vehicles? To get the most out of them, it is essential that we provide our vehicles with regular tire rotations...