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.

74° 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!


Tuesday Afternoon Business Brief

May 13, 2014, 1:47 PM

Tuesday Afternoon Business Brief
  • There's a little less exuberance on Wall Street today, though the S&P 500 index has pushed through another threshold, briefly crossing 1,900 for the first time. Investors have been assessing the April retail sales report from The Commerce Department. It shows sales grew just 0.1 percent last month. In afternoon trading, the S&P is up a fraction. The Dow is modestly higher, while the Nasdaq composite is down.
  • General Motors' recall involving defective ignition switches has revealed a gap in knowledge about the performance of air bags. Crashes tied to the ignition switch problem have killed 13 people. In each case, the air bags failed to deploy even after the cars hit trees, guard rails or other objects. Federal safety regulators told Congress last month they believed the cars' air bags should have worked for up to 60 seconds after the engine stalled. But GM tells The Associated Press that the time is just 150 milliseconds.
  • Student lender Sallie Mae has reached a $60 million settlement with the federal government to resolve allegations it charged military service members excessive interest rates on their student loans. Attorney General Eric Holder calls the conduct "inexcusable," and says the settlement sends a message to all lenders that such practices won't be tolerated. Federal officials estimate some 60,000 service members will be compensated as part of the settlement.
  • A new report finds at least a half-million more people have signed up for Medicaid in states that have refused a federal offer to expand eligibility for the safety-net program for the poor. Avalere Health says Georgia has the most new Medicaid recipients at nearly 99,000. In states that do expand Medicaid, Washington pays the full cost for newly eligible residents through 2016.
  • California's tax revenue is running more than $2 billion ahead of expectations. But Gov. Jerry Brown's office says the state's expenditures are growing at a similar rate. Brown released a state budget that projects $107.7 billion in spending. That's 24 percent more than during the 2011-12 fiscal year, the low point of the recession when California cut billions of dollars from state programs and furloughed state workers.

Previous Story

Next Story

Find Local Businesses on KELO Pages!

View business

You may also like

First DTSF Incubator Store Open For Business

7/23/2014 6:30 AM

605 Running Co., 124 S. Phillips Avenue, just opened its doors on Friday. It's a big grand opening for the store, but also for Downtown ...

Full Story | Watch
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
Fruit From Walmart And Costco May Be Contaminated

7/22/2014 11:23 AM

A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concern...

Full Story
Third Walmart Preparing To Open In Sioux Falls

7/22/2014 6:10 PM

Sioux Falls latest Walmart store is preparing to open in just a few weeks.

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