Business and Economic News

Shoppers splurged in January as new stimulus checks arrived
Retail sales soared 5.3 percent last month compared to December, much more than anticipated, as U.S. families began receiving new federal coronavirus relief checks.
Southwest U.S. snowstorms cause Moorhead power outages
Parts of western Minnesota face the possibility of rolling blackouts this week because of a winter storm that hit Texas and other parts of the southwestern U.S.
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.
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.
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.
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. 
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.