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Twin Cities road projects get state funding
by Evelina Smirnitskaya
18 May 2012 at 1:28pm
The state said Friday it has awarded $25.5 million to fund 14 highway projects around the state, with more than half of the money going to five Twin Cities projects. The money will provide partial funding to projects geared to ease access to local business and spur economic development in the area. The projects include: The City of Eden Prairie received $7 million to widen and reconstruct Shady Oak Road, improving access to the Golden Triangle Area and City West business parks. The City of St....
Pronghorn Resort to join Auberge family
by Wendy Culverwell
18 May 2012 at 1:27pm
Auberge Resorts will manage Pronghorn Golf Club & Resort in a deal that will make the Bend-area project one of the region?s first five-star destinations. The Resort Group, a Honolulu-based investment group that acquired Pronghorn in February, signed a deal with Auberge this month to turn over management of the 48-suite lodge, restaurants and spas. Pronghorn?s new partner brings a deep knowledge of running high-end destinations. Its portfolio includes resorts in California, Colorado, South Carolina...
Wave of NFL concussion lawsuits could flow down to teams, doctors, other sports
by Mike Sunnucks
18 May 2012 at 1:27pm
The wave of concussion-related lawsuits against the National Football League could reverberate down to individual teams, their executives, coaches and team doctors. Attorneys also warn there also could be similar suits filed against college and even high school football programs as well as other sports like hockey and lacrosse. Most of the current cases have been brought by former players against the NFL, a $9 billion a year business and potential cash cow for plaintiffs and their attorneys. Travis...
Java venture proves to be challenging labor of passion
by Rachel Brownlow
18 May 2012 at 1:25pm
Victoria Lynden knows firsthand that inspiration can hit an entrepreneur at any time. Lynden ?never really had the intention of starting a coffee company? until, while vacationing on the North Shore in Hawaii, she sampled the decadent kona coffee that became the inspiration behind Kohana Coffee. Once the idea struck, the challenge was breaking into the field as a small, woman-owned company. At the time, Lynden, a serial entrepreneur and CEO of Alliance Abroad Group, was opening Cissi?s Market...
Houston unemployment rate drops to 6.5%
by Olivia Pulsinelli
18 May 2012 at 1:23pm
The Houston area?s unemployment rate decreased sharply to 6.5 percent in April, beating the state of Texas? rate of 6.9 percent, the Texas Workforce Commission said Friday. Those figures are both well below the current U.S. unemployment rate of 8 percent. The unemployment rate for both the Houston area and the state was 7 percent in March. In April 2011, Houston?s rate was 7.8 percent, while Texas? rate was 8 percent. Texas added 225,800 jobs since the same time last year, with 13,200...
St. Louis Park creates convention bureau
by Ed Stych
18 May 2012 at 1:21pm
The City of St. Louis Park has created a convention and visitors bureau to support the city's hotels, restaurants and retailers. The organization is called Discover St. Louis Park and is led by CEO John Basill. Two other employees work for the group. Discover St. Louis Park said in a news release it will market the city's six hotels (872 rooms), 30 restaurants, and retail locations such as The Shops at West End. It also will advertise that its convenient to downtown Minneapolis and the Minneapolis-St....
Boston Scientific gets FDA approval for stent
by Ed Stych
18 May 2012 at 1:21pm
Boston Scientific Corp. has started selling a stent system that is designed to open blocked arteries in in patients with a form of peripheral vascular disease. Boston Scientific (NYSE: BSX) started marketing the Epic Vascular Self-Expanding Stent System immediately after getting the go-ahead from the U.S. Food and Drug Administration. The FDA approval came three years after the system was approved in Europe and elsewhere. Boston Scientific is based in Massachusetts and has 5,000 Twin Cities employees...
OUTTAKES: May 18
by Patricia Miller
18 May 2012 at 1:18pm
Who knew hanging out with CFOs could be so much fun and so interesting! That?s Business Journal Brian Cassidy?s takeaway this week. Cassidy got some great shots of our CFO Award winners and finalists and along the way discovered he lives in CFO Award winner Steve Appelbaum?s old house in Kirkwood. It?s a small world, indeed. Click the photo on the right to see Appelbaum?s picture and more.
Legislative analyst: Budget projections are mostly reasonable, but fall short
18 May 2012 at 1:17pm
On Monday, California Gov. Jerry Brown unveiled a revised budget predicted a nearly $16 billion shortfall, with recommendations to cut $8.3 billion state spending. The nonpartisan Legislative Analyst?s Office has had a chance to look at the budget proposal, and found that while most of the Brown administration?s forecasts were reasonable, at least one provision is overly optimistic. The LAO issued a statement saying the office is concerned that property tax revenue coming in from former redevelopment...
Another new low for mortgage rates
by Jeff Clabaugh
18 May 2012 at 1:12pm
Mortgage rates fell again this week, with 30- and 15-year fixed-rate mortgages touching new record lows. Freddie Mac's (OTC BB:FMCC) weekly rate report says 30-year fixed-rate mortgages averaged 3.79 percent in the week ending May 17, down from 3.83 percent the previous week. A year ago, 30-year mortgages were averaging 4.61 percent. A 15-year fixed-rate loan averaged 3.04 percent for the past week, down from 3.05 percent a week earlier. A one-year adjustable-rate mortgage averaged 2.83 percent,...
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Currency Markets To Shrug Off Greek Deposit Withdrawals-Barclays - Wall Stree...

18 May 2012 at 7:06am 

Currency Markets To Shrug Off Greek Deposit Withdrawals-Barclays Wall Street Journal LONDON (Dow Jones)--A flight of bank deposits out of peripheral euro-zone states may matter less for the currency markets than investors initially might think, foreign-exchange strategists at Barclays PLC said Friday. Deposit withdrawals can affect the ...

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Hedging Trickier As Asian Currencies Hurt - Wall Street Journal

18 May 2012 at 5:23am 

Malaysia Chronicle

Hedging Trickier As Asian Currencies Hurt Wall Street Journal After several Asian currencies logged substantial gains against the dollar early this year, the region's foreign-exchange markets have been battered this month, along with other assets perceived as risky. Leading the way down, the Indian rupee has ... Asian Currencies Fall Most Since November as Europe Risks MountBusinessWeek Asia Currencies Drop as Europe's Debt Crisis Deters Risk-TakingBloomberg Emerging Asian currencies riseBusiness Recorder (blog) Economic Times -Malaysia Star all 38 news articles »

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'Armageddon' Scenarios Vanish From Currency Market? - CNBC.com

18 May 2012 at 12:58am 

CNBC.com

'Armageddon' Scenarios Vanish From Currency Market? CNBC.com But volatility in foreign exchange markets is likely to stay high with the Japanese currency, the yen "The kind of Armageddon scenario where the euro won't exist has disappeared from the market. People are talking about Greece leaving but I don't think ... and more »

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