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Business and Economic News

Minnesota jobless rate at 3.5 percent, lowest in nearly 15 years

Minnesota jobless rate at 3.5 percent, lowest in nearly 15 years

The state's unemployment rate dropped two tenths of a percent last month as employers added 7,200 payroll jobs, officials said Thursday. The data show a trio of positive indicators.
by Bill Catlin

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General Mills meets 2Q profit forecasts

General Mills meets 2Q profit forecasts

The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.42 billion in the period.
by The Associated Press

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Massive downsizing in oil sector brings hard times to workers

Massive downsizing in oil sector brings hard times to workers

Crude oil prices have dropped to their lowest level in nearly seven years. Oil and gas companies have laid off close to 56,000 Texans since December of last year.
by Andrew Schneider

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Federal Reserve announces hike in short-term interest rates

Federal Reserve announces hike in short-term interest rates

After holding rates near zero for 7 years, the Fed approved a small increase Wednesday. While that step seems minor, the impact could be huge in 2016 as borrowing costs head up.
by The Associated Press

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New MnDOT plan would slash cost of Mpls.-Duluth high-speed rail

New MnDOT plan would slash cost of Mpls.-Duluth high-speed rail

Previous estimates to build the Northern Lights Express passenger rail service approached $1 billion. The Minnesota Department of Transportation says it can halve the cost by trimming proposed speeds and service.
by Dan Kraker

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Trucks hit record 20.4 MPG, EPA says; Carmakers are ahead of emissions standards

Trucks hit record 20.4 MPG, EPA says; Carmakers are ahead of emissions standards

Fuel economy is at record highs and car makers have surpassed strict greenhouse gas emissions standards for the third straight year, the Environmental Protection Agency says.

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Budget deal cues up 2-year freeze to medical device tax

Budget deal cues up 2-year freeze to medical device tax

The tax has been a constant target for Minnesota lawmakers in Congress, who have cited the state's large presence in the medical device industry as they pushed for its repeal.
by The Associated Press

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Bird flu quarantines lifted on all Minnesota farms

Bird flu quarantines lifted on all Minnesota farms

All 108 farms infected this year with the highly pathogenic avian influenza virus are completely cleaned, disinfected and cleared to restock their barns with poultry, the Minnesota Board of Animal Health says.
by MPR News Staff

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