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Business and Economic News

Twin Cities is the first in the nation to get inflation below 2 percent annual rate

Twin Cities is the first in the nation to get inflation below 2 percent annual rate

In May, the annual inflation rate in the Twin Cities dropped below the Federal Reserve’s two percent target — making it the first major metropolitan area to do so. What’s behind the region’s relative success?
by Tom Crann and Ngoc Bui

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Aer Lingus set to resume nonstop service between Twin Cities, Dublin

Aer Lingus set to resume nonstop service between Twin Cities, Dublin

Aer Lingus is planning to resume nonstop flights between the Twin Cities and Dublin in April. The Irish airline’s service to Minneapolis St. Paul International Airport had been suspended at the start of the COVID-19 pandemic.
by Tim Nelson

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Austin-based Hormel Foods to send Spam, other relief to Maui

Austin-based Hormel Foods to send Spam, other relief to Maui

The company announced Thursday that three truckloads of the canned pork product are on the way with two more trucks following, totaling more than 264,000 cans of Spam.
by Hannah Yang

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Mortgage rates just hit their highest since 2002

Mortgage rates just hit their highest since 2002

The average cost of a 30-year fixed-rate mortgage jumped to 7.09 percent this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.
by Scott Horsley

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Minneapolis approves measure to boost pay for Uber, Lyft drivers

Minneapolis approves measure to boost pay for Uber, Lyft drivers

The ordinance passed 7-5 despite rideshare companies’ threats they’ll stop operating in the city if the provision goes forward. 
by Jon Collins

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Walz says tax rebates will help with back to school shopping

Walz says tax rebates will help with back to school shopping

The governor promoted rebates arriving in Minnesotan’s bank accounts this week as a back-to-school stimulus. And he responded to complaints from Republican leaders that the $260 rebates were much less than the DFLer promised last year on the campaign trail.
by Brian Bakst

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