Business and Finance news

A state board gave a green light Tuesday to $1.55 million in bonds to help finance Zoltek’s new plant in St. Peters.
The Missouri Development Finance Board gave preliminary approval to the bonds, part of $15.5 million that the carbon-fiber-maker is cobbling together to buy and renovate a 130,000 square-foot building on Geunther Blvd. Other incentives […]

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ST. LOUIS • Funeral services are pending for Rick Desloge, who spent nearly three decades as a journalist with the St. Louis Business Journal.
The Business Journal says Desloge died Monday, about a year after he was diagnosed with pancreatic cancer. He was 63.
Desloge began at the Business Journal in 1984 and continued working until recently. […]

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LONDON

Shares of MEMC Electronic Materials Inc. tumbled 25 percent so far today after the O’Fallon, Mo.-based company posted a huge loss due to dropping sales.
After markets closed on Wednesday, MEMC reported reported a $92 million net loss for the first quarter on continued erosion of demand and pricing in semiconductor and solar industries.
As of 1:35 […]

South Korea

Organizers say Beijing has forced the cancellation of a conference on legal protection for private industry amid heightened sensitivity over the country’s biggest political scandal in years.
A leading Beijing lawyer said legal authorities in the capital called him Saturday to demand it be called off. The conference had been scheduled for Saturday and Sunday in […]

U.S. Treasury Secretary Timothy F. Geithner said the global economic recovery is fragile and Europe

On Saturday, at the University of Missouri-St. Louis, Marc Bowers is throwing an ideas conference for the rest of us.
It’s the first-ever ProductCamp St. Louis, a daylong “unconference” designed to help share ideas and insights among, as Bowers puts it, “people who are in mundane, old-school industries,” like manufacturing, consumer goods and telecommunications.
Unlike many entrepreneurship […]

Iconic investor Warren Buffett announced Tuesday that he has been diagnosed with stage I prostate cancer in a letter to shareholders of his firm Berkshire Hathaway.
Buffett, 81, said his "condition is not remotely life-threatening or even debilitating in any meaningful way," and that additional tests didn’t reveal incidence of cancer anywhere else in […]

Hedge funds reduced bullish bets on commodities for a second consecutive week as the Federal Reserve signaled it may refrain from more monetary stimulus, increasing concern that growth will slow and curb demand for raw materials.
Money managers lowered net-long positions across 18 U.S. futures and options by 2.8 percent to 1.1 million contracts in […]