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Economy

Refineries paying less for oil, making more profit on gas prices

Although refineries are paying about 25 percent less for oil than they were a few months ago, most of the savings have not transferred over to consumers.

City of Savannah hopes to avoid bankruptcy

To help avoid bankruptcy, city employees are now paying a higher insurance deductible, and the mayor is taking steps to get a secondary loan to help pay for bonds. 

Obama administration plans to cut hundreds of regulations for small businesses

The reforms will focus on scrapping "dumb" rules and helping small businesses, the administration said. The cut-backs are expected to save businesses $10 billion over five years.

City management fellowship to provide new opportunity for master's students

City Manager Mike Matthes proposes a management fellowship to cut city expenses and provide real-world experience to master's students studying public affairs.

Ethanol projected to consume more corn than livestock

The United States Department of Agriculture yield estimates project that for the first time in history more corn will be used to produce ethanol than to feed livestock.

High corn prices changing livestock practices

High corn prices are forcing some livestock producers to adjust their feed rations and are contributing to a downward trend in cattle owners in Missouri.

Gov. Jay Nixon requests disaster designation for 23 counties

The designation of the counties as primary disaster areas would allow farmers to receive financial help from the U.S. Department of Agriculture's Farm Service Agency.

Obama's plan: New jobs proposals, challenging GOP

President Barack Obama plans to announce a broad package of tax cuts, construction work and help for the millions of Americans who have been unemployed for months.

Retail sales rose 0.5 percent in July

The overall increase in retail spending is a positive sign, but there are still concerns lingering for the American economy.

Unemployment claims reach 4-month low; economic predictions vary

While some economists said this could signal job growth, some analysts have a more cautionary outlook. 

Fed pledges to keep rates low into 2013; stocks soar

In 2008, the Federal Reserve set its target for interest rates near zero to help with the financial crisis. On Tuesday, the Fed guaranteed low interest rates for two more years.

Political gridlock prompts S&P's government credit rating downgrade

Standard & Poor's downgrade of the government's credit rating has more to do with the volatile political climate than America's ability to pay its bills.

How the U.S. downgrade could affect you

The U.S. downgrading could have a number of different repercussions.

University of Phoenix, other for-profit colleges respond to scrutiny

For-profit college enrollment grew rapidly over the past decade amid renewed calls to increase the nation's college graduation rate and a need to help laid-off workers find new careers.

After S&P downgrade, Obama says 'we must do better'

A day after Standard & Poor's lowered the nation's credit rating from AAA to AA+, Republicans and Democrats traded blame over the move.

Eat healthy, spend more: Study finds healthy eating more expensive

The cost of healthy eating could make new nutritional guidelines difficult to meet, a study found. But according to other researchers, there are more factors to consider — for some people, expense is a choice. For others, it's not cost that's the issue — it's proximity.

Senate passes emergency legislation to raise debt limit, Obama signs

Following the House's vote on Monday, the Senate followed suit with last-minute debt legislation on Tuesday.

Sales tax holiday coming this weekend

School supplies, electronics and clothing will be exempt from state sales tax Friday through Sunday. Columbia sales tax will still apply.

Analysis: Lessons learned, default fault abounds

Debt ceiling negotiations in Congress are a sign that government can work when it absolutely has to. But what a mess it was to reach an agreement before the U.S. defaulted for the first time in history.

St. Louis area could be site of hybrid van plant, with 1,000 new jobs

Hazelwood officials announced Wednesday that the city council approved a measure to provide $3 million through economic development sales tax to help a British company build a plant to make hybrid electric vans.

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