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Business and Economic News

Party City files for bankruptcy and plans to shutter nationwide

Party City files for bankruptcy and plans to shutter nationwide

Party City was once unmatched in its vast selection of affordable celebration goods. But over the years, competition stacked up at Walmart, Target, Spirit Halloween and especially Amazon.
by Juliana Kim

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Farmers are still reeling months after Hurricane Helene ravaged crops across the South

Farmers are still reeling months after Hurricane Helene ravaged crops across the South

Farmers in Georgia are still reeling more than two months after Hurricane Helene blew away cotton, destroyed ripened squash and cucumbers and uprooted pecan trees and timber. Agribusinesses in other Southern states saw costly damage as well. 
by The Associated Press

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November proves strong month for Minnesota job market despite slight unemployment uptick

November proves strong month for Minnesota job market despite slight unemployment uptick

Four supersectors gained jobs on a seasonally adjusted basis, led by strong gains in construction. That’s according to new monthly jobs numbers released by the Department of Employment and Economic Development.
by Clay Masters

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Arctic Cat to cease operations at Thief River Falls, St. Cloud plants

Arctic Cat to cease operations at Thief River Falls, St. Cloud plants

The iconic Minnesota maker of snowmobiles and other outdoor vehicles, says it will suspend manufacturing at its facilities in Thief River Falls and St. Cloud next year. A company spokesperson said the actions are difficult but necessary to reduce costs, due to challenging business conditions in the powersports industry.
by MPR News Staff

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About 10,000 Amazon workers authorize plan to strike Thursday

About 10,000 Amazon workers authorize plan to strike Thursday

The International Brotherhood of Teamsters said workers in Atlanta, New York City, California and Illinois plan to join the picket line.
by Ayana Archie

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Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

The Federal Reserve cut its key interest rate by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation.
by The Associated Press

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