Business and Economic News

Women’s 3-on-3 league developed by Napheesa Collier and Breanna Stewart to debut in January
Breanna Stewart and Napheesa Collier’s 3-on-3 league Unrivaled is set to debut in January with players earning the highest average salary in women’s professional team sports. Early investors include NBA players and Minnesota natives Tre and Tyus Jones.
Best Buy and Kohl’s extends streak of quarterly sales slumps
The earnings results from Best Buy and Kohl’s, announced Thursday, offer the latest evidence of consumers’ cautious spending amid a challenging economic environment.
Minnesota landmark: The Frank Schott stone barn near Chokio
Out on the fields of western Minnesota, the Frank Schott stone barn cuts an imposing and lonely silhouette. It’s been just over 100 years since a German immigrant started building it.
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. 
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.