User uShare Login | Register
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.


73° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Wednesday Afternoon Business Brief

October 3, 2012, 1:16 PM

Wednesday Afternoon Business Brief

A better than expected report on private sector hiring and news that the service sector is growing faster are providing investors some encouragement. The key averages were all higher in afternoon trading on Wall Street, though the gains have been held in check by a slump in energy stocks, which fell with a sharp drop in the price of crude oil.

  • Payroll processor ADP says U.S. businesses hired fewer workers last month. The ADP survey finds companies added 162,000 jobs in September, down from 189,000 in August. The report only covers private sector hiring. The Labor Department will offer a more complete picture of September hiring on Friday.
  • Fresh evidence of slower growth in China has sent oil prices plunging. China says its services sector slowed in September, though it's still is growing. That overshadowed news that U.S. service sector growth is accelerating. Benchmark oil was down nearly $3 to just below $89 per barrel in New York.
  • Portugal is announcing steep income tax hikes aimed at reducing its debt load despite mounting discontent over austerity measures. The country's finance minister describes the increases as "enormous" but says the country is "at a moment of financial crisis and social emergency." The government is reducing the number of tax brackets next year and will levy a tax surcharge of 4 percent on wages. It also plans to raise taxes on capital gains, assets, financial transactions, tobacco and luxury goods.
  • Shares of LifeLock have fallen more than 3 percent in its first day of trading. The online provider of identity theft protection services priced its initial public offering at $9, which was below the range analysts had been anticipating. The shares opened at $8.38, but recovered somewhat in morning trading.

For the latest local business news, visit the Back to Business page of KELOLAND.com.

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


Events