User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

55° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options




[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Friday Afternoon Business Brief

February 7, 2014, 1:56 PM

Friday Afternoon Business Brief

Stocks are sharply higher in afternoon trading on Wall Street. Investors are finding bright spots in the government's monthly employment report, including solid growth in construction and manufacturing jobs. The gains on top of yesterday's strong finish could give the market a slight gain for the week.

  • The U.S. government is getting a new borrowing cap, almost four months after Washington defused October's government shutdown and debt crisis. The new cap is expected to be about $17.2 trillion. Congress temporarily suspended the borrowing limit last October in the agreement to end the shutdown. It will be reset at the total amount of debt at close of business today. Treasury Secretary Jacob Lew will then have to employ bookkeeping maneuvers to keep the government functioning until Congress further raises the borrowing limit.
  • The Postal Service says it lost $354 million over the last three months. That's far less than the $1.3 billion it lost in the comparable quarter the previous fiscal year, but officials say mounting losses could lead to cash flow problems for the rest of the year. Revenue grew by $334 million, driven by a 14.6 percent growth in shipping and package services, but first-class mail declined 4.6 percent.
  • The Justice Department says it has closed an investigation of Samsung Electronics over alleged misuse of patents to exclude some Apple iPhone and iPad models from the U.S. market. Apple has said some Samsung wireless patents are being offered on unfair terms, hurting competition. Samsung obtained an exclusion order against Apple from the U.S. International Trade Commission that would have barred the import of some Apple smart phones and tablet computers. But the U.S. Trade Representative overturned the order, so the Justice Department is closing its investigation.
  • One of the nation's largest meatpackers has added wording to its labels on ground beef packages that indicates whether the meat inside includes a product that's been called "pink slime." Cargill says all of its U.S.-produced, fresh, 100 percent ground beef products that contain what it calls "finely textured beef" will say so on a label.

Previous Story

Next Story

Find Local Businesses on KELO Pages!

View business

You may also like

Sioux Falls No Longer Best Small City

7/25/2014 11:12 AM

Sioux Falls is no longer the nation's best small city for business and careers.

Full Story
Iowa Town Bracing For Closure Of Tyson Foods Plant

7/27/2014 3:31 PM

One small northwest Iowa town is preparing to deal with the loss of 450 jobs this fall when the Tyson Foods plant in Cherokee closes, and business own...

Full Story
Simply Mac Coming To Sioux Falls

7/28/2014 1:12 PM

Apple users will soon have another option for sales and service support.

Full Story
Dawley Farm Village Expands

7/25/2014 10:10 PM

If you don't live on the Sioux Falls east side, or haven't taken a drive over there lately, you may not have noticed all the new businesses.

Full Story | Watch
Sioux City Riverboat Casino Prepares For Last Day

7/30/2014 7:57 AM

The Argosy riverboat casino is preparing to take its last bets Wednesday, having told the Iowa Racing and Gaming Commission that it will close by 5 p....

Full Story