Business and Finance news

A union representing workers at three major grocery chains in Southern California is distributing picket signs as the clock ticks toward the end of a 3-day notice period required before calling a strike.
Union negotiators intend to keep talking if a resolution appears to be in sight when the period ends at 7:10 p.m. Sunday. They […]

Federal officials say offshore oil and gas workers in the Gulf of Mexico are going back to platforms and rigs that had been evacuated because of Tropical Storm Lee.
The Bureau of Ocean Energy Management, Regulation, and Enforcement said Monday in a news release that 232 production platforms and 24 rigs had been evacuated. That meant […]

JEFFERSON CITY

Jamestown Mall’s owner has a 90-day reprieve to find a buyer or otherwise resolve its default on a more than $2 million loan.
Jamestown Mall’s New York-based owner, Jamestown Mall Realty Management LLC, filed for Chapter 11 bankruptcy Aug. 8 to halt foreclosure proceedings brought by its lender, MFC Real Estate LLC. MFC alleged the mall owner defaulted on a […]

Global stocks fell again Friday as fears of a possible U.S. recession combined with ongoing worries over Europe’s debt crisis, which is stoking acute fears over the continent’s banking sector.
However, a better than anticipated opening on Wall Street helped European markets recoup a large chunk of their earlier losses.
“This week has seen a continuation of […]

Discouraging economic data from around the globe have heightened fears that another recession is on the way.
Fresh evidence emerged Thursday that U.S. home sales and manufacturing are weakening. Signs also surfaced that European banks are increasingly burdened by the region’s debt crisis and sputtering economy.
The rising anxiety ignited a huge sell-off in stocks that led […]

Fitch Ratings said Tuesday that it would keep its rating on long-term U.S. debt at the highest grade, AAA, and said the outlook remained stable. But it warned that it could lower the outlook to negative if Congress failed to trim future deficits.
Fitch’s rating was the best given by the three major credit rating agencies. […]

Global stocks continued their rebound Monday on hopes that the recent sharp volatility in the markets has run its course following a run of stronger than anticipated economic data and after Google announced a $12.5 billion deal.
Though concerns remain over the state of the global economy and Europe’s debt crisis, many investors think the recent […]

President Hugo Chavez said Friday that Venezuela’s oil production quota within OPEC should increase now that its proven crude reserves have grown.
Chavez said in a televised speech that oil production quotas will need to be revised.
“The more reserves you have, the higher the quota you have,” Chavez said.
Earlier this month, OPEC recognized Venezuela as the […]

Gold’s reputation as a safe place for your money sent it above $1,600 for the first time.
Investors are worried about debt problems on both sides of the Atlantic. So they bid gold up $12.30 an ounce Monday to settle at $1,602.40. That’s a record for the market price for gold, but below its 1980 peak […]