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Business and Economic News

Ngozi Okonjo-Iweala makes history as WTO's first African and female leader

Ngozi Okonjo-Iweala makes history as WTO's first African and female leader

As she takes the helm of the World Trade Organization, the former Nigerian finance minister faces challenges from the COVID-19 response to navigating trade frictions between the U.S. and China.
by Brakkton Booker

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First-generation college graduates navigate mountain of student loan debt

First-generation college graduates navigate mountain of student loan debt

A growing legion of people in Minnesota and across the nation are hoping President Joe Biden will take steps to ease what’s become a massive student debt problem. Supporters say that debt, more than $1.6 trillion currently, is holding back the American economy, keeping people from buying homes, getting married and otherwise taking their next steps in life — and affecting Black and brown borrowers in unequal ways.
by Kathryn Styer Martinez

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Water, electric utilities watch unpaid bills pile up during the pandemic

Water, electric utilities watch unpaid bills pile up during the pandemic

As subzero temperatures persist across Minnesota, utilities are watching unpaid heating bills pile up. Because of the pandemic’s impact on personal finances, most utilities have not disconnected customers for about a year despite unpaid bills. Moorhead officials have a plan to start collecting the mounting customer debt.
by Dan Gunderson

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Walz OKs more guests at weddings, private gatherings as COVID ebbs

Walz OKs more guests at weddings, private gatherings as COVID ebbs

People planning wedding receptions and other group celebrations got some good news Friday when Gov. Tim Walz raised his limit on the number of people who can attend private indoor gatherings from 10 to 50. 
by Mark Zdechlik

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Kraft Heinz sells Planters brand to Hormel Foods

Hormel Foods is going nuts. The Austin, Minn.-based company, known for its meat brands like Spam and Applegate, said Thursday it is buying the Planters nut business from Kraft Heinz Co. for $3.35 billion. Included in the deal are Planters brands like Nut-rition, Cheez Balls and Corn Nuts.
by The Associated Press

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Black-owned businesses find lifeline in small banks as they scramble for survival

Black-owned businesses find lifeline in small banks as they scramble for survival

Black-owned businesses were often at the back of the line when the first coronavirus relief loans were doled out. Now, some are turning to banks that specialize in minority firms for help.
by Scott Horsley

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Government investigating massive counterfeit N95 mask scam

Government investigating massive counterfeit N95 mask scam

Federal authorities are investigating a massive counterfeit N95 mask operation in which fake 3M masks were sold in at least five states to hospitals, medical facilities and government agencies. The foreign-made knockoffs are becoming increasingly difficult to spot and could put health care workers at grave risk for the coronavirus.
by The Associated Press

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Lost a job or income? Don't lose access to key tax credits

Lost a job or income? Don't lose access to key tax credits

Americans who lost their job or some of their income in 2020 should pay attention to a new, one-time provision that ensures they don't lose access to valuable tax credits as well. These credits could be key to getting a refund.
by The Associated Press

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Taxing time: How the pandemic will affect filing your taxes

Taxing time: How the pandemic will affect filing your taxes

Tax filing season will start a bit later and look a bit different this year. That's because the pandemic that defined 2020 has seeped into tax time as well. If you worked from home, received a relief payment, took on some gig work or filed unemployment benefits _ or someone filed a fake claim in your name _ there are things you need to be aware of. Likewise if you normally receive certain tax credits. The IRS will begin accepting tax returns on Feb. 12.
by The Associated Press

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