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Business & Economy - MPR News

Business & Economy

Published: Sun, 22 Jan 2017 07:04:19 -0600


Federal watchdog sues TCF Financial over overdraft fees

Thu, 19 Jan 2017 12:58:12 -0600

Federal consumer finance regulators said Thursday they were suing TCF Financial Corp., alleging the Twin Cities-based bank deceived consumers so it could charge them exorbitant overdraft fees. The lawsuit also alleged extracting fees was a point of pride: TCF chairman William Cooper named his boat "Overdraft."

NFL's Raiders file papers to move from Oakland to Las Vegas

Thu, 19 Jan 2017 11:53:32 -0600

"I am happy to see the process moving forward, and greatly appreciate the commitment of the Raiders and work of the Adelson family to the hope of making Las Vegas the home of the Raiders," said Clark County Commission Chairman Steve Sisolak.

Not just a crock: The viral word-of-mouth success of Instant Pot

Wed, 18 Jan 2017 11:31:00 -0600

Launched in 2010, the multifunction cooker became a sleeper hit last year. That's when its maker harnessed the enthusiasm of owners - self-dubbed "addicts" - to spread the word online.

MN December jobless rate ticks up to 3.9 percent; 12K jobs added

Thu, 19 Jan 2017 10:24:40 -0600

The state's seasonally adjusted jobless rate remained below the 4.7 percent national rate, but the nation continued to outpace Minnesota in one-year job growth.

Source: Trump picks former Ga. Gov. Perdue to lead USDA

Wed, 18 Jan 2017 20:33:20 -0600

Former Georgia Gov. Sonny Perdue, 70, would be the first Southerner to lead the Agriculture Department in more than two decades.

Minneapolis Fed presses effort to close racial, economic gaps

Wed, 18 Jan 2017 17:13:31 -0600

Hoping his institution can be a force for economic equality, Minneapolis Federal Reserve President Neel Kashkari on Wednesday unveiled a new research push that he said would focus on the well-being of all Americans.

Builders worry affordable housing support will shrink under Trump

Wed, 18 Jan 2017 15:44:21 -0600

Minnesota low-income housing builders say they're already feeling the impact of Donald Trump's presidential victory. Uncertainty about his corporate tax policies has nearly scuttled a key financing mechanism for new developments.

Commerce nominee Ross declares he is pro-trade, pro-union

Wed, 18 Jan 2017 09:56:13 -0600

Billionaire investor Wilbur Ross cited his relationship with the United Steelworkers Union, which has endorsed him for the Cabinet post, as proof that he will work to protect American jobs.

The rise of MyPillow and CEO Mike Lindell

Wed, 18 Jan 2017 08:29:49 -0600

Writer Josh Dean recently spent time with Lindell at his new factory in Shakopee for an article published this week in Bloomberg Businessweek.

Target lowers 4Q profit and sales outlook

Wed, 18 Jan 2017 07:30:43 -0600

The disappointing holiday season is a setback for Target, which like many other retailers is trying to reinvent itself to be more nimble in a changing landscape where online leader is setting the rules.

Gulf between richest and poorest wider than previously thought, Oxfam says

Tue, 17 Jan 2017 15:54:00 -0600

Last year, Oxfam said the world's richest 62 people had as much money as the poorest 3.6 billion. Turns out those numbers were wrong: The richest nine people had as much wealth as half the planet.

Will Minnesota start running on Dunkin'?

Wed, 18 Jan 2017 04:00:00 -0600

The Massachusetts-based coffee and doughnut chain is planning to open dozens of stores in the state as it expands westward.

Sunday liquor sales off to a fast start at Capitol

Tue, 17 Jan 2017 17:41:55 -0600

A House committee Tuesday gave lopsided approval to a measure that would lift the longtime state ban on Sunday liquor store sales.

GM to add or keep 7,000 U.S. jobs, make $1 billion factory investment

Tue, 17 Jan 2017 10:57:28 -0600

General Motors announced 5,000 new positions will be created at its auto financing arm and to develop advanced technology, electric and autonomous vehicles and information technology.

Feds allege KleinBank used discriminatory lending practices

Mon, 16 Jan 2017 13:12:54 -0600

The U.S. Department of Justice lawsuit alleges that KleinBank was systematically engaged in "redlining," to deny or avoid providing credit services to minorities.

Great Lakes shipping season floats to a close this weekend

Sat, 14 Jan 2017 13:00:08 -0600

Shipwatchers in Duluth will brave the elements this weekend for one last up-close view of giant freighters gliding into the harbor before they lay up for the winter.

Minnesota farmers say Dayton plan to curb runoff is laced with problems

Fri, 13 Jan 2017 17:13:42 -0600

Gov. Mark Dayton sees the state law requiring 50-foot grassy buffer strips along most Minnesota water bodies as part of his environmental legacy. Farmers call it too costly and unworkable. Minnesota's senior U.S. House member agrees.

Feds launch study of proposed 20-year mining ban near Boundary Waters

Fri, 13 Jan 2017 16:37:30 -0600

The U.S. Forest Service will begin a lengthy environmental review on a proposed mining moratorium on the Superior National Forest in the Rainy River watershed.

Trump urges people to 'buy L.L.Bean' amid boycott threat

Thu, 12 Jan 2017 14:50:00 -0600

Linda Bean, co-owner of the family-owned outdoor retailer, says she gave money to PACs supporting Trump. Her political stance spurred calls for an L.L. Bean boycott under the hashtag #Grabyourwallet.

Liberty depicted as black woman on $100 gold coin

Fri, 13 Jan 2017 08:44:12 -0600

The U.S. Mint says it's the first in a series of 24-karat gold that will also depict Liberty in designs representing Asian-Americans, Hispanic-Americans and Indian-Americans.