Business and Economic News

Minneapolis weighs increasing funding for community violence prevention
Earlier this week, Minneapolis Mayor Jacob Frey proposed a $1.8 billion budget which includes an increase in funding for community-driven violence prevention efforts.
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?
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.
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.
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.
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.