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Business and Economic News

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. 
by The Associated Press

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State agency approves loan for tribal cannabis facility over board's recommendation

State agency approves loan for tribal cannabis facility over board's recommendation

The Minnesota Department of Iron Range Resources and Rehabilitation has approved a $2.5 million loan to a subsidiary of the Fond du Lac Band of Lake Superior Chippewa to build a cannabis growing facility in Brookston, despite its advisory board’s vote against it.
by Dan Kraker

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Minnesota lawmakers assert protections for public waters

Minnesota lawmakers assert protections for public waters

Legislators passed language clarifying that a waterway that meets the legal definition is a public water, even if it’s not on a decades-old state inventory. Its passage followed a lengthy legal dispute over Limbo Creek, the last free-flowing stream in heavily-farmed Renville County.
by Kirsti Marohn

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Feel like the restaurant industry is failing? It may just be moving

Feel like the restaurant industry is failing? It may just be moving

The gut punch of losing a favorite dinner spot and the constant drum beat of restaurant closure news can make it feel like the industry isn’t doing well. But a new report suggests that might not be entirely true.
by Emily Reese and Lukas Levin

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Norfolk Southern will pay $15 million fine as part of federal settlement over Ohio derailment

Norfolk Southern will pay $15 million fine as part of federal settlement over Ohio derailment

Residents were generally underwhelmed by the deal the Environmental Protection Agency and Justice Department announced Thursday, two days after a federal judge signed off on the railroad’s $600 million class action settlement with residents.
by The Associated Press

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Remember last year’s Memorial Day travel jams? Chances are they will be much worse this year

Remember last year’s Memorial Day travel jams? Chances are they will be much worse this year

Highways and airports are likely to be jammed in the coming days as Americans head out on and home from Memorial Day weekend getaways. AAA predicts this will be the busiest start-of-summer weekend in nearly 20 years.
by The Associated Press

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Justice Department says illegal monopoly by Ticketmaster and Live Nation drives up prices for fans

Justice Department says illegal monopoly by Ticketmaster and Live Nation drives up prices for fans

The Justice Department has filed a sweeping antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment, accusing them of running an illegal monopoly over live events in America and driving up prices for fans.
by The Associated Press

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