Economy & Innovation

Peabody Energy
10:30 am
Tue April 19, 2011

Peabody Energy's 1Q earnings rise

(St. Louis Public Radio)

Peabody Energy Corp. says its profit rose in the first quarter due to higher prices for Australian coal used in steelmaking and increased demand in the U.S.

The world's biggest private-sector coal company says its net income attributable to common shareholders was $176.5 million, or 65 cents per share, in the January-March period. That's up from $133.7 million, or 50 cents, a year earlier.

St. Louis-based Peabody says first-quarter revenue rose 15 percent to $1.74 billion from $1.51 billion the previous year.

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Monsanto & BASF
12:37 pm
Tue April 12, 2011

Updated: Monsanto shares up, but no plans for buyout from BASF

Outside Monsanto headquarters in St. Louis.
(St. Louis Public Radio)

Updated 2:05 p.m. April 12, 2011:

Reuters has now updated its story to indicate that a buyout is not in the plans:

Germany's BASF SE (BASFn.DE) has no plans to buy global biotech seed company Monsanto Co (MON.N), sources with knowledge of the situation said on Tuesday.

Rumors that a buyout was imminent sent shares of Monsanto Co (MON.N) up as much as 4 percent while shares of BASF, the world's largest chemical maker, fell 2.8 percent to 62.59 euros.

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Unemployment Rate
6:02 pm
Mon April 11, 2011

Mo. unemployment rate drops to 9.1 percent

via Flickr/KellyB.

A new report says Missouri's March unemployment rate fell by three-tenths of a point to 9.1 percent.

Monday's report from the state Department of Economics also says Missouri employers added a net of more than 24,000 jobs last month.

The hospitality and leisure sector had the biggest gain, adding about 6,300 jobs, while retailers added 5,800 jobs. Other notable increases were construction, with 4,200 jobs added, and business and professional services, up by 2,700 jobs.

On Marketplace Morning Report
10:43 am
Thu April 7, 2011

Job growth has been increasing faster for men than women

(via Flickr/Seabamirum)

The "Mancession" of 2009 is finally giving way to a "Mancovery." But the jobs picture for women is going in the opposite direction.

Check out this feature about gender asymmetry in the jobs "recovery" from our own Adam Allington. It aired on Marketplace Morning Report today.

St. Louis Public Radio at Grand Center
1:33 pm
Tue April 5, 2011

St. Louis Public Radio to break ground on new building April 15

A rendering of the proposed exterior of the new home of St. Louis Public Radio at Grand Center in St. Louis. Groundbreaking for the new facility is set for April 15.
(Chiodini Associates, architects, and AxiOme, design consultant)

Want to see more images of the new building's design? Check out a full gallery on Posterous.

Groundbreaking has been set for St. Louis Public Radio and the University of Missouri-St. Louis’ new home in Grand Center.

The public radio station’s general manager, Tim Eby, confirms that work will begin on the site just east of KETC public television on Friday, April 15. The three-story, 27,000-square-foot building is expected to take one year to complete.

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from St. Louis on the Air
4:57 pm
Thu March 31, 2011

To tax or not to tax? A discussion of Proposition E in St. Louis

(via Flickr/_J_D_R)

Next Tuesday, St. Louis City voters will vote on Proposition E.  If the proposition passes, the city will retain its 1 percent earnings tax.  If the proposition fails, the tax will be phased out over the next ten years.  Supporters and critics of the earnings tax disagree on many things, including how the tax affects the economic vitality of the city and how prominently the tax figures into people’s decisions to live or work in St. Louis.  But many agree on this: no replacement for the earnings tax is in place and a transition to any combination of alternatives could prove painful.

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Anheuser-Busch InBev
1:26 pm
Mon March 28, 2011

August Busch IV leaving board of Anheuser-Busch InBev

August A. Busch IV in 2008.
(UPI/Bill Greenblatt)

Updated 5:09 p.m. March 28, 2011 with additional reasons for leaving the board:

The St. Louis Business Journal reports other reasons for Busch's departure:

"For personal and health reasons August Busch IV has decided not to seek re-election at the annual shareholders meeting," A-B spokeswoman Marianne Amssoms said.

As updated 3:30 p.m. March 28, 2011:

The former CEO of Anheuser-Busch Cos., August A. Busch IV, will be leaving the board of Anheuser-Busch InBev following the annual shareholders' meeting, Bloomberg News reports:

The world’s largest brewer will ask investors on April 26 in Brussels to approve Olivier Goudet, chief financial officer of Mars Inc., and Paul Cornet de Ways Ruart as directors for a four-year term, according to the convening notice published on the company’s website. Goudet and Cornet will replace Jean-Luc Dehaene and Arnoud de Pret on AB InBev’s board, which will have 12 members following the departure of Busch.

The St. Louis Post-Dispatch, via the Associated Press, reports that the move is unrelated to the negative publicity surrounding Busch since the death of his girlfriend from a drug overdose late last year.

Busch's board seat was always considered a courtesy after Anheuser-Busch was sold to InBev in 2008, as InBev's board went to 13 seats from 12 previously. It will now revert to 12. Busch's term had always been scheduled to end next month, the newspaper said.

 

Anheuser-Busch / Goose Island
10:32 am
Mon March 28, 2011

Anheuser-Busch to buy Chicago's Goose Island Beer Co.

Some of the beer taps at the Goose Island Brewpub on N. Clybourn Ave. in Chicago. It was announced today that St. Louis' Anheuser-Busch will acquire Goose Island, a Chicago craft beer brewer.
(via Flickr/Bernt Rostad)

"Chicago's Craft Beer" is the tagline gracing the top of the website of Goose Island Beer Co., but, with an announcement today involving St. Louis fixture Anheuser-Busch, that tagline of origin may become a little muddled.

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Metal Container Corp.
4:07 pm
Wed March 23, 2011

Metal Container Corp. cited over amputations

According to Anheuser-Busch's website, Metal Container Corp."supplies more than 45 percent of Anheuser-Busch’s U.S. beer cans and 55 percent of its domestic lids."
(via Flickr/zappowbang)

The Occupational Safety and Health Administration is citing an Anheuser-Busch InBev can plant subsidiary in suburban St. Louis for several violations after two accidents in which employees suffered amputations.

OSHA said Wednesday that one worker at Metal Container Corp. in Arnold lost fingers in machinery. A second lost a foot in a forklift accident.

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Business
9:40 am
Tue March 22, 2011

Nixon: Mo. gets $27 million in incentives program

Mo. Gov. Jay Nixon.
(UPI/Bill Greenblatt)

Updated at 1:10 p.m.  March 22, 2011 with comment from Nixon.

Missouri is receiving $27 million in federal money to boost small business growth and job creation.

The State Small Business Credit Initiative supports state-level, small business lending programs and is part of the Small Business Jobs Act signed by President Obama last fall.

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