Kansas City Star: Breaking Business News

Public meetings set to discuss 'entrepreneurial city' goals

Fri, 10 Feb 2012 05:00 CST

The Greater Kansas City Chamber of Commerce is sponsoring a series of public meetings to hear ideas for its Big 5 goal "to make Kansas City America's most entrepreneurial city."

Dress Barn to open in KCK's Legends Outlets

Fri, 10 Feb 2012 05:00 CST

Dress Barn is coming to Legends Outlets Kansas City in early spring.

Closing Bell | Garmin, Cap Fed rise; KC Southern, UMB among long list of decliners

Fri, 10 Feb 2012 05:00 CST

Most regional stocks joined in a broad sell-off Friday, as stocks overall had their worst day of the year. Blame the trding tone on Greece.

Coming Sunday, free help on college financial aid forms

Fri, 10 Feb 2012 05:00 CST

Get free help this Sunday on completing the FAFSA -- the Free Application for Federal Student Aid form.

Power & Light District to add a nightclub

Fri, 10 Feb 2012 05:00 CST

An art deco hotel-themed venue, fittingly called Hotel Nightclub, is coming to the Power & Light District.

U.S. tightens rules for skilled visas

Fri, 10 Feb 2012 05:00 CST

The U.S. Labor Department on Friday issued new rules for the H-2B immigration program governing temporary, non-agricultural workers.

KC area fund families get good Barron's ratings

Fri, 10 Feb 2012 05:00 CST

The Kansas City area's two largest mutual fund companies fared well in Barron's latest industry rankings.

Starwatch Consumer | Nissan recalls Versa; Toyota Camry and RAV-4 fire investigation

Fri, 10 Feb 2012 05:00 CST

Nissan is recalling 39,000 Versa small cars because the transmissions can be shifted out of park without the driver's foot on the brake. The 2012 model cars were made from June 9, 2011 through Jan. 13, 2012 and sold in the U.S. and Canada. Federal safety regulations require that a driver's foot must be on the brake before a car can be shifted into gear.

Stocks fall sharply as Greek deal is held up

Fri, 10 Feb 2012 08:46 CST

Stocks had their worst day of the year Friday after Greece hit a roadblock on its way to a critical bailout.

Kansas AARP opposes Westar Energy rate increase

Fri, 10 Feb 2012 05:00 CST

AARP Kansas says it is opposed to a proposed settlement before regulators that would allow the state's largest electric company to increase its rates by $50 million.

Greek PM says default would lead to "chaos"

Thu, 09 Feb 2012 16:46 CST

Greece's future in the eurozone grew increasingly precarious Friday as violence erupted on the streets of Athens and dissent grew among its lawmakers after European leaders demanded deeper spending cuts.

2 Key Ford leaders to retire, Mulally to stay on

Thu, 09 Feb 2012 08:06 CST

Two of the architects behind Ford's remarkable turnaround are retiring, and their departures have intensified the guessing game over who will become the next CEO.

Euro rises to 2-month high vs dollar on Greek deal

Thu, 09 Feb 2012 12:41 CST

The euro jumped to a 2-month high against the dollar Thursday after Greek leaders agreed on a cost-cutting plan that should prevent the country from defaulting on its debt.

Closing Bell | U.S. stocks close higher after debt deal in Greece

Thu, 09 Feb 2012 05:00 CST

The stock market finally got a deal in Greece, but it didn't produce much of a rally.

Missouri employers' tax rate rises to cover unemployment comp loan

Thu, 09 Feb 2012 05:00 CST

Employers in Missouri have begun paying a higher Federal Unemployment Tax Act rate because the state was unable to repay a federal loan by the target date of Nov. 10, 2011.

New iPad could be coming in March

Thu, 09 Feb 2012 05:00 CST

A news report says Apple plans to unveil a new iPad early next month.

Starwatch Consumer | Google going retail; mortgage rates hold steady

Thu, 09 Feb 2012 05:00 CST

Google Inc. plans its first stand- alone retail store at its European headquarters in Dublin after a trial at a computer shop in London, according to a filing by the world's most popular search engine. The Google Store would be open to the public and sell unspecified Google merchandise. Retail may be a new front in Google's competition with Apple Inc., whose 361 stores have fueled sales of iPods, iPhones and iPad tablet computers.

Mortgage rates hold the line

Food Network focuses on Kansas City's spicy foods

Thu, 09 Feb 2012 05:00 CST

What's really hot in Kansas City? Chefs Roger Mooking and Aarón Sanchez of the Food Network's "Heat Seekers" will tell America in a show premiering Feb. 20.

Business notes | Ford losing two key execs; Oracle acquisition; Pepsi cutting 8,700

Thu, 09 Feb 2012 05:00 CST

The Ford Motor Co. on Thursday announced the retirement of two members of its management team who were integral to the automaker's financial recovery and product renaissance.

German FinMin warns on Greek bailout deal

Wed, 08 Feb 2012 16:01 CST

Hours after Greece made the unpopular decision to slash government spending in an attempt to ease its debt crisis, Germany's finance minister questioned whether the deal goes far enough to earn a crucial euro130 billion bailout.

World stocks slip as Greek bailout hangs in limbo

Thu, 09 Feb 2012 03:26 CST

World stock markets dropped Friday after Europe's finance ministers demanded more spending cuts from Greece before clearing a euro130 billion ($170 billion) bailout to stave off the country's bankruptcy.

Ross Dress for Less coming to Independence

Wed, 08 Feb 2012 05:00 CST

One of the nation's largest off-price department store chains is entering the Kansas City market with a new Independence store. Ross Dress for Less plans to open a 40,000-square-foot store in Independence Commons at 19000 E. 39th St., across from Independence Center.

Closing Bell | Cerner climbs more than 13 percent; Sprint fall 1.6 percent

Wed, 08 Feb 2012 05:00 CST

It didn't take long for investors to react to late Tuesday's positive fourth-quarter earnings report from Cerner Corp. Shares in the North Kansas City-based medical software company soared more than 13 percent Wednesday, closing at $70.88, up $8.31.

Starwatch Consumer | AeroShot inhaler is a new way to get your caffeine fix

Wed, 08 Feb 2012 05:00 CST

Move over, coffee and Red Bull. A Harvard professor thinks the next big thing will be people inhaling their caffeine from a lipstick-sized tube. Critics say the novel product is not without its risks.

Business notes | Nokia cuts 4,000 jobs; CVS, Time Warner earnings

Wed, 08 Feb 2012 05:00 CST

Nokia Corp. plans to stop assembling cell phones in Europe by year-end as it shifts production to Asia and will cut another 4,000 jobs, its latest attempts to cushion itself from stiff competition in the smartphone sector.

NASB Financial earns nearly $5 million in fourth quarter

Wed, 08 Feb 2012 05:00 CST

NASB Financial Inc. on Wednesday reported a fourth-quarter profit of $4.93 million, up from a net loss of $3.03 million for the same period in 2010.

Sprint puts Kansas City high on list for 4G LTE service

Wed, 08 Feb 2012 05:00 CST

Sprint Nextel Corp.'s newest ultra-fast 4G service is coming to Kansas City by midyear. The wireless carrier based in Overland Park said Kansas City and Baltimore would join Atlanta, Dallas, Houston and San Antonio as the first to see its high-speed service using Long Term Evolution technology.

Israeli labor union starts strike, flights delayed

Tue, 07 Feb 2012 23:57 CST

Israel's largest labor union launched an open-ended nationwide strike for the first time in five years on Wednesday, shutting down national and local government offices, banks, the stock exchange, rail service and seaports.

Cerner Corp. set records for revenue, earnings and contracts in 2011

Tue, 07 Feb 2012 05:00 CST

Electronic medical record keeper Cerner Corp. kept up its robust growth -- both in the United States and abroad -- through last year.

Staff at The Sun tabloid arrested in bribe inquiry

Sat, 11 Feb 2012 09:23 CST

Britain's biggest-selling newspaper was fighting to contain the damage after five employees at The Sun tabloid were arrested Saturday in an inquiry into the alleged payment of bribes to police and other officials.

Greece's grim choice: deep budget cuts or default

Sat, 11 Feb 2012 11:23 CST

Why would Greece accept more pain when unemployment is at 21 percent, the economy is enduring its fifth year of recession and rioters are hurling gasoline bombs in the streets of Athens?

Staff at The Sun tabloid arrested in bribe inquiry

Fri, 10 Feb 2012 08:41 CST

Five staff at Britain's largest selling tabloid The Sun were arrested Saturday along with three other people over alleged bribes paid to police and defense officials, detectives and the newspaper's parent company said.

Faces beyond the numbers of long-term unemployed

Sat, 11 Feb 2012 09:23 CST

J.R. Childress is up before the sun, bustling about in the French colonial brick house he built. He helps pack his wife's lunch, downs some eggs or cereal for breakfast, pores over online and newspaper job listings and hopes - even prays - this will be the day when his fortunes turn around.

Deadline nears, Obama wants payroll tax cut action

Sat, 11 Feb 2012 05:08 CST

President Barack Obama is pressuring Congress to extend a payroll tax cut for the rest of the year as another deadline nears for Congress to act or see taxes go up for millions of working people.

Trade deficit widens to $48.8 billion in December

Fri, 10 Feb 2012 07:41 CST

Monthly U.S. exports to Europe grew in December, a hopeful sign after a steep decline the previous month. But, some economists remain concerned that the region's debt crisis will still weigh on the U.S. economy this year.

Gov't on pace for $1T deficit despite January dip

Fri, 10 Feb 2012 13:03 CST

The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year.

$25B settlement reached over foreclosure abuses

Thu, 09 Feb 2012 23:11 CST

A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses. But consumer advocates countered that far too few people will benefit.

Bernanke: Weak housing has hurt consumer spending

Fri, 10 Feb 2012 11:38 CST

Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending and warns that the trend could continue to weigh on the economy for years.

Thruway seeks NY vendors for farmers markets

Fri, 10 Feb 2012 11:28 CST

The New York State Thruway Authority is looking for farmers and growers to participate in "Tailgate Farmers Markets" at some of the highway system's more than two dozen travel plazas.

Week's recalls: chandeliers, coffee makers, lamps

Fri, 10 Feb 2012 09:51 CST

Crystal chandeliers with a dangerous tendency to fall, single-cup coffee makers that may spray scalding liquid on users and lamps that may start fires are among the consumer products recalled this week.

Fishermen meet amid bleak cod prospects

Fri, 10 Feb 2012 18:43 CST

Fishermen and federal officials grappled Friday with the increasingly bleak prospect of finding some way for the historic New England industry to avoid collapse amid troubles with the health of Gulf of Maine cod.

Spain approves crucial labor market reforms

Fri, 10 Feb 2012 08:36 CST

Spain's new conservative government approved sweeping labor market reforms on Friday as part of a drive to revive a sick economy and solve Europe's worst unemployment nightmare.

A look at economic developments around the globe

Fri, 10 Feb 2012 16:28 CST

A look at economic developments and activity in major stock markets around the world Friday:

Friendly's CEO steps down

Fri, 10 Feb 2012 07:41 CST

The chief executive of the Friendly's restaurant chain has announced he is stepping down after 18 months on the job and a month after the company emerged from bankruptcy protection.

Business events scheduled for the coming week

Fri, 10 Feb 2012 14:50 CST

MONDAY, Feb. 13

France's Total gets oil price profit boost

Fri, 10 Feb 2012 02:26 CST

French oil company Total SA forecast higher production this year while revealing Friday that higher oil prices helped it post a 12.8 percent rise in fourth quarter profits despite a drop in output.

Cobalt International up 36 percent on well results

Fri, 10 Feb 2012 12:48 CST

Shares of oil producer Cobalt International Energy Inc. surged 36 percent Friday after the company released a study showing that one of its wells might be far more productive than many analysts thought.

Summary Box: China trade slows more than expected

Fri, 10 Feb 2012 10:26 CST

TRADING DOWN: China's trade data in January showed the biggest drop since 2008. Exports fell 0.5 percent from a year earlier to $149.9 billion. Imports were down 15 percent at $122.7 billion. The politically sensitive global trade surplus tripled to $27.3 billion.

Health insurance option brewing for small nonprofits

Thu, 09 Feb 2012 05:00 CST

A plan that could be an option to reduce health care benefits costs for small nonprofit organizations will be introduced next week to Kansas City area nonprofit leaders.