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Economic NewsTuesday, Jun 18th, 2013

Wisconsin lawmakers approve venture capital bill

By KEVIN WANG - AP - 55 mins ago

MADISON, Wis. (AP) — State lawmakers on Tuesday approved legislation that would invest millions of dollars in public and private money in Wisconsin startups despite criticism that the investment targets only limited industries. (full story)

Suit: McDonald's wages put on costly debit card

By MARYCLAIRE DALE - AP - Tue Jun 18, 4:42PM CDT

PHILADELPHIA (AP) — Would you like fees with that? (full story)

House, Senate on diverging paths on agency budgets

By ANDREW TAYLOR - AP - Tue Jun 18, 3:59PM CDT

WASHINGTON (AP) — Republicans controlling the House unveiled slashing cuts Tuesday to a program that helps localities build community development projects, while their rivals in the Democratic-led Senate proposed to restore GOP cuts to international food aid and nutrition help for pregnant women. (full story)

Here's what to watch for Wednesday from the Fed

By MARTIN CRUTSINGER - AP - 2 hrs 31 mins ago

WASHINGTON (AP) — What the world hopes to hear Wednesday from the Federal Reserve can be summed up in one word: clarity. (full story)

Aerospace company to expand in Oklahoma

AP - Tue Jun 18, 1:54PM CDT

GROVE, Okla. (AP) — An Australian aerospace company says it will open a facility in Grove, Okla. and hire 20 workers. (full story)

Oregon jobless rate falls below 8 percent

AP - Tue Jun 18, 1:25PM CDT

SALEM, Ore. (AP) — The unemployment rate in Oregon has dipped below 8 percent for the first time since the nation fell sharply into the Great Recession in the fall of 2008. (full story)

Iowa health insurer to seek smaller rate hikes

By RYAN J. FOLEY - AP - Tue Jun 18, 1:16PM CDT

IOWA CITY, Iowa (AP) — Months after customers blasted the company for years of skyrocketing rates, Iowa's dominant health insurer said Tuesday it will limit premium increases in 2014 to less than six percent for individual and small business policyholders. (full story)

2 rural Vt. counties get almost $1m for jobs

AP - Tue Jun 18, 11:36AM CDT

MONTPELIER, Vt. (AP) — Two of Vermont's most rural counties are getting more than $930,000 from the U.S. Department of Agriculture to help create jobs. (full story)

Duke Energy names insider to take over for Rogers

By JONATHAN FAHEY - AP - Tue Jun 18, 11:18AM CDT

NEW YORK (AP) — Duke Energy Corp., the nation's largest electric utility, named Chief Financial Officer Lynn Good to replace Jim Rogers next month as CEO. (full story)

US consumer prices rise just 0.1 pct. in May

By CHRISTOPHER S. RUGABER - AP - Tue Jun 18, 10:37AM CDT

WASHINGTON (AP) — U.S. consumer prices rose slightly last month, as higher energy costs partly offset cheaper food. The small increase is further evidence that consumers are benefiting from mild inflation. (full story)

Mellanox names longtime board member as chairman

AP - Tue Jun 18, 10:04AM CDT

SUNNYVALE, Calif. (AP) — Mellanox Technologies Ltd. on Tuesday named Irwin Federman as nonexecutive chairman of its board. (full story)

Company to pay nearly $60K in OT back wages

AP - Tue Jun 18, 9:45AM CDT

BATON ROUGE, La. (AP) — A construction services employment agency has agreed to pay more than 100 workers nearly $60,000 in back wages after an investigation by the federal labor department. (full story)

Smithfield Foods lays off 120 more at Va. plant

By MICHAEL FELBERBAUM - AP - Tue Jun 18, 9:41AM CDT

RICHMOND, Va. (AP) — Smithfield Foods Inc. said Tuesday that it is laying off 120 more workers as part of its previously announced closure of a Virginia facility that makes hot dogs and deli meat. (full story)

Boeing opening info tech center in St. Louis-area

AP - Tue Jun 18, 9:24AM CDT

JEFFERSON CITY, Mo. (AP) — Missouri Gov. Jay Nixon said Monday that Boeing Co. plans to open an information technology center in the St. Louis area that is expected to create at least 400 jobs. (full story)

Vt. state employees' union reinstates chief

AP - Tue Jun 18, 8:49AM CDT

MONTPELIER, Vt. (AP) — The union representing Vermont state workers on Monday reversed a vote its board took last week to fire its executive director, placing him instead on paid leave while an investigation is done. (full story)

US home construction rises 6.8 percent in May

By MARTIN CRUTSINGER - AP - Tue Jun 18, 8:48AM CDT

WASHINGTON (AP) — U.S. builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remains a key source of growth for the economy. (full story)

China bans private adoptions of abandoned infants

AP - Tue Jun 18, 8:04AM CDT

BEIJING (AP) — China has announced that individuals and groups are banned from privately adopting abandoned infants, in a country where tens of thousands are abandoned each year and where baby trafficking has been a perennial problem. (full story)

NTSB stresses track safety after Conn. man's death

AP - Tue Jun 18, 7:58AM CDT

HARTFORD, Conn. (AP) — The National Transportation Safety Board has issued an urgent safety recommendation after a railroad track foreman was struck and killed by a passenger train last month in Connecticut. (full story)

Skullcandy CFO resigns, Calif. office to be closed

AP - Tue Jun 18, 7:12AM CDT

PARK CITY, Utah (AP) — Skullcandy's chief financial officer is leaving and the headphone maker said Tuesday that it will shut down some departments now in Southern California and shift operations to its headquarters in Utah. (full story)

Judge considers effect of fungus on Calif. inmates

By MIHIR ZAVERI and DON THOMPSON - AP - Tue Jun 18, 7:10AM CDT

SAN FRANCISCO (AP) — A lawyer representing inmates at two California state prisons told a federal judge Monday that an airborne fungus occurring in the San Joaquin Valley presents the deadly threat of valley fever and that thousands should be transferred immediately. (full story)

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