Sprint job losses from its transformation into a leaner company continued through April, eliminating 113 jobs at its Overland Park headquarters over the last 90 days. Previously, Sprint had disclosed about 2,500 job cutbacks companywide as part of the changes.
The Dow Jones industrial average fell 57.12, or 0.32 percent, to 17,773.64. The Standard & Poor’s 500 index fell 10.51, or 0.51 percent, to 2,065.30. The Nasdaq composite index fell 29.93, or 0.62 percent, to 4,775.36.
Amid reports of slower economic growth and falling consumer confidence, companies’ credit managers have given the economy their best rating in nine months. Survey responses showed weaker companies’ prospects improved while stronger ones continued to grow.
Ford Motor Co. said it will take a one-week production break at the Kansas City Assembly Plant to fix some “mechanical issues” in the production system. The plant normally would close in October for a week, but it moved up the break to deal with the issues.
Instead of going to a shop to buy tires and waiting while they are installed on your car, what if the shop came to you? That’s the concept behind Zohr Mobile Tire Service, which may be the Kansas City area’s only business that offers mobile tire service, repair and installation.
Higher revenues and lower costs boosted first-quarter profits at AMC Entertainment Holdings Inc. to $28.3 million, compared with $6.1 million a year ago. The Leawood-based operator of AMC Theatres said it still expects to complete its $1.1 billion purchase of rival Carmike Cinemas this year.
Sprint announced it is picking up $3.1 billion in cash through two transactions, including its second cellphone sale-and-lease deal involving its parent company, SoftBank Group Corp. This is Sprint’s second cash-raising deal with a new company that SoftBank set up last year with a number of Japanese banks.
The insurance company reported a $4.3 million profit in the first quarter, equal to 44 cents a share. A year ago, it earned $6.8 million, or 63 cents a share. Profits in both quarters suffered from low interest rates, its announcement said.
The Organization of Petroleum Exporting Countries increased production by 484,000 barrels to 33.217 million a day in April, the most in monthly data compiled by Bloomberg going back to 1989, according to a survey of oil companies, producers and analysts.
A group that backs liquor sales in Kansas grocery and convenience stores is offering lawmakers a plan to raise $40 million at a time when the state is trying to close a $290 million budget shortfall. Uncork Kansas says the stores would be willing to pay as much as $200,000 each for an initial license to sell beer, wine and spirits. For smaller stores, the initial license would be $10,000.
The Patriots picked up two new targets for Tom Brady — or whoever is playing quarterback for them when the season starts — while also adding a lineman with a long football pedigree on Day 3 of the NFL draft.