Economy & Innovation

MSD
4:14 pm
Fri June 3, 2011

MSD hearings to begin on rate increase

Brett Berthold, the manager of the MSD Bissell Point Wastewater Treatment Plant in north St. Louis, gives reporters a tour of the facility Friday.
(Bill Raack, St. Louis Public Radio)

Hearings will begin in about a week on a $276 million rate increase request for the Metropolitan St. Louis Sewer District. MSD says the rate hike is needed to comply with stricter regulatory requirements and to reduce wastewater overflows into area creeks and streams.

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Arch Coal
10:45 am
Wed June 1, 2011

Antitrust waiting period on Arch-ICG deal expires

Arch Coal has cleared a key regulatory hurdle facing its proposed $3.4 billion takeover of rival International Coal Group.

Scott Depot-based ICG and St. Louis-based Arch announced Wednesday that the the antitrust waiting period under U.S. law has expired. That satisfies one condition for the deal to close.

Arch agreed to buy ICG on May 2 and has since started a $14.60-a-share tender offer. The offer expires June 14.

Economy
5:04 pm
Thu May 19, 2011

Missouri exports up in Q1

Coal, one of Missouri's top export products this year.
(via Flickr/[sic])

Missouri exports are up 18 percent in the first quarter of 2011. That’s according to data released Thursday by the World Trade Center Saint Louis.

The total dollar value of Missouri exports in Q1 was $3.4 billion, compared to $2.9 billion in 2010.

Tim Nowak is the Director of the World Trade Center.  He says Asian markets continue to show the biggest growth potential for Missouri.

“Some of the highest growth that we’re seeing, double-digit growth is in Singapore, Indonesia, Korea, China,” says Nowak.

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Illinois Unemployment Data
3:05 pm
Thu May 19, 2011

Illinois April jobless rate falls to 8.7 percent

(via Flickr/KellyB.)

Illinois' unemployment rate fell to 8.7 percent in April, improving for the 15th consecutive month.

The Illinois Department of Employment Security released the new figures on Thursday.

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Missouri Jobless Rate
5:19 pm
Mon May 16, 2011

Mo. jobless rate falls to 8.9 percent in April

(via Flickr/KellyB.)

A new report says Missouri's unemployment rate has fallen to its lowest point in about two years.

The state Department of Economic Development says April's jobless rate was 8.9 percent, down two-tenths of a point from March. That's the state's lowest unemployment rate since March 2009.

Monday's monthly report also shows a net gain of 2,500 nonfarm jobs in Missouri last month. The agency says the biggest growth came in construction, manufacturing and retail trade.

Arch Coal
11:02 am
Mon May 16, 2011

Arch starts offer for International Coal shares

The raw product behind coal power, coal itself.
(via Flickr)

Arch Coal Inc. says it's started $14.60 a share tender offer for rival International Coal Group.

Arch says the offer that started Monday expires June 14.

The St. Louis-based coal industry giant agreed to buy ICG for $3.4 billion May 2.

The deal is designed to exploit growing demand for high-priced coal used to manufacture steel. Arch says the combined companies would be the nation's second largest supplier of metallurgical coal.

Ameren earnings
11:33 am
Thu May 5, 2011

Ameren, Build-A-Bear report lower first-quarter earnings

Ameren Missouri crews try to sort through downed wires and poles in Richmond Heights following a February storm. Storm-related expenses contributed to lower first-quarter earnings for the company.
(UPI/Bill Greenblatt)

Two St. Louis-based companies are reporting lower earnings for the first quarter of this year compared to the same period last year.

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Philip Morris USA
12:38 pm
Fri April 29, 2011

Philip Morris USA, others win favorable verdict from St. Louis jury

(via Flickr/seannaber)

Philip Morris USA and other major tobacco companies won a favorable verdict Friday in a lawsuit filed by 37 Missouri hospitals seeking more than $455 million for treating sick smokers.

Philip Morris USA was one of six tobacco companies involved in the lawsuit.

The hospitals had claimed cigarette companies delivered an "unreasonably dangerous" product and were seeking reimbursement back to 1993 for treating patients who had no insurance and did not pay their bills.

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Boeing
1:37 pm
Thu April 28, 2011

Boeing out of Indian defense deal

An F/A-18 Super Hornet from the Sunliners of Strike Fighter Squadron (VFA) 81 launches from the aircraft carrier USS Carl Vinson (CVN 70). Boeing, the maker of the F/A-18 Super Hornet, is now out of the running for a contract for the Indian air force.
(U.S. Navy/ by Mass Communication Specialist Seaman Stephen G. Hale II/Released)

The U.S. Embassy in New Delhi says that two American makers of fighter jets are out of the running for a multibillion dollar contract for the Indian air force.

The defense arm of one of the two American companies, Boeing Co., is based in St. Louis.

Boeing Co. and Lockheed Martin were both bidding for a slice of the $11 billion Indian deal for 126 fighter jets.

A statement from U.S. Ambassador Timothy J. Roemer says that the news from India's Defense Ministry was "deeply disappointing."

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Ameren / Coal Ash
5:26 pm
Thu April 21, 2011

Ameren fields shareholder questions on impact of coal ash

Ameren’s 2,400-megawatt plant near Labadie, Mo. is the state’s largest coal-fired power plant. (Véronique LaCapra, St. Louis Public Radio)
(Véronique LaCapra, St. Louis Public Radio)

Officials at Ameren took questions from shareholders about the utility company's procedures for disposing of coal ash today.

The annual shareholder's meeting was open to all Ameren investors.

Diana Oleskevich works for the Sisters of St. Joseph of Carondelet.  The sisters are part of a group of five institutional investors calling on Ameren to clean up their coal ash disposal procedures.

Oleskevich says Ameren's claim that its 35 coal ash storage ponds comply with current regulations does not satisfy her concerns.

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