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Business and Economic News

Why the U.S. job market has defied rising interest rates and expectations of high unemployment

Why the U.S. job market has defied rising interest rates and expectations of high unemployment

Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households. Yet the cure — much higher interest rates, to cool spending and hiring — was expected to bring even more pain. Yet so far, to widespread relief, the reality has been anything but.
by The Associated Press

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Oil prices have risen. That's making gas more expensive for U.S. drivers and helping Russia's war

Oil prices have risen. That's making gas more expensive for U.S. drivers and helping Russia's war

Oil prices are up, and that affects people far and wide. Drivers pay more for gasoline, and truckers more for diesel. Behind the recent bump in price is Saudi Arabia's decision to slash how much oil it sends to global markets through the end of the year.
by The Associated Press

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Walz takes responsibility for failed vetting of cannabis director

Walz takes responsibility for failed vetting of cannabis director

After his choice to oversee legal cannabis in the state quit after one day amid media scrutiny of her background, Gov. Tim Walz said he will look into why problems weren’t discovered earlier.
by Brian Bakst

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Duluth office-to-apartment conversion sparks downtown revitalization hope

Duluth office-to-apartment conversion sparks downtown revitalization hope

A Duluth developer announced plans this week to convert a 50-year old downtown office building into apartments. It’s the first of what the city hopes will be several office-to-housing conversions in the next several years as Duluth works to revitalize its downtown post-pandemic.
by Dan Kraker

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UAW ramps up strikes against GM and Stellantis — but not Ford

UAW ramps up strikes against GM and Stellantis — but not Ford

The United Auto Workers union said it’s expanding its historic strike against the Big Three automakers to all parts distribution facilities at General Motors and Stellantis across the country — including two sites in the Twin Cities metro area.
by Danielle Kaye

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Cannabis company founder picked to oversee Minnesota marijuana market

Cannabis company founder picked to oversee Minnesota marijuana market

Gov. Tim Walz named Erin DuPree, the founder of a hemp products company, as the first leader of Minnesota’s Office of Cannabis Management. DuPree will oversee the buildup of a retail market for legal marijuana.
by Brian Bakst and Mark Zdechlik

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In the Netherlands, a farmers party taps into widespread discontent with government

In the Netherlands, a farmers party taps into widespread discontent with government

What began as a movement of farmers opposed to environmental rules is now one of the country's dominant political parties. The nation's agricultural exports are second only to the United States.
by Rob Schmitz

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