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Money

Tax breaks for data centers? Minnesota cities weigh incentives to lure the mega-projects 

Tax breaks for data centers? Minnesota cities weigh incentives to lure the mega-projects 

Hermantown officials are expected to vote Monday night on a proposal to extend tax incentives to Google in exchange for city and school funding and infrastructure costs — and the largest private investment in the city’s history.
by Dan Kraker

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'It's very overwhelming': Minnesota drivers make tough choices at the gas pump as prices rise

'It's very overwhelming': Minnesota drivers make tough choices at the gas pump as prices rise

A gallon of regular gas is about $3.99 in Minnesota, with some Twin Cities gas stations charging more than $4 a gallon on Wednesday. The national average is about $4.30 a gallon.
by Regina Medina

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Costs could squeeze Minnesota farmers long after Strait of Hormuz reopens

Costs could squeeze Minnesota farmers long after Strait of Hormuz reopens

The Strait of Hormuz, a vital trade passageway, remains virtually closed amid the war in Iran. That’s driven up the prices of key agricultural necessities, which could remain high into next year.
by Tadeo Ruiz Sandoval

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Workers lose $240 million during ICE surge, survey estimates

Workers lose $240 million during ICE surge, survey estimates

Workers in the Twin Cities lost an estimated $244 million in wages during the ICE surge while businesses lost $610 million in revenue.
by Matt Sepic

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Businesses can claim refunds starting Monday for Trump tariffs declared unconstitutional

Businesses can claim refunds starting Monday for Trump tariffs declared unconstitutional

A refund system for businesses that paid tariffs which the U.S. Supreme Court eventually struck down is scheduled to launch on Monday. U.S. Customs and Border Protection says importers and their brokers will be able to begin claiming refunds online beginning at 8 a.m.
by The Associated Press

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Oil tumbles 10% as Wall Street rallies to another record after Iran reopens the Strait of Hormuz

Oil tumbles 10% as Wall Street rallies to another record after Iran reopens the Strait of Hormuz

Oil prices are falling by more than 10 percent, and Wall Street is rallying toward another record after Iran said the Strait of Hormuz is fully open, which would allow oil tankers to exit the Persian Gulf again and carry crude to customers worldwide.
by The Associated Press

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Why high oil prices are good for oil companies — until they aren’t

Why high oil prices are good for oil companies — until they aren’t

Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.
by Camila Domonoske

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