Business and Economic News

The new housing crisis: Shut out of the market
Ten years after a housing collapse during the Great Recession, home values have rebounded but there are too few homes on the market. Buyers face intense competition, and that means higher prices.
I-35W shutdown tops Twin Cities weekend road woes, again
Remember what a drag it was last weekend when MnDOT closed that 15-mile stretch of I-35W? The replay starts Friday night. Here's your guide to the weekend's road construction hassles.
China announces $60B of U.S. goods for tariff retaliation
China's government has announced a $60 billion list of U.S. goods including coffee, honey and industrial chemicals for retaliation if Washington goes ahead with its latest tariff threat.
U.S. economy added 157,000 jobs in July; unemployment dips to 3.9 percent
The economy continued to add jobs at a steady pace last month and the unemployment rate remained low. Analysts have been looking for signs that wage growth might pick up, but it held steady too.
Despite strong economy, federal deficit soars
Even with a healthy job market and rapid economic growth, the federal government is piling up debt. The government's deficit is expected to top $1 trillion next year.
Apple becomes world's 1st private-sector company worth $1 trillion
The tech giant and the world's most valuable publicly traded company became first to reach the milestone market value. Amazon is also approaching $1 trillion in value, but Apple got there first.
Trump administration threatens even higher tariffs on China
President Trump is ratcheting up the pressure on China over trade. The administration threatened to raise proposed tariffs on Chinese imports from 10 percent to 25 percent.
Citing increased danger, union for Minn. corrections officers demands higher staffing levels
The union representing corrections officers in Minnesota prisons demanded the state hire more staff to address what it calls unsafe conditions that led to the death of Officer Joseph Gomm last month.