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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 18, 2007
Page
10
The Dow Jones surpassed 14,000 for the first time after a mild inflation reading encouraged an ongoing market rally. The Dow rose 20.57 to close at 13,971.55 while the S&P 500 slipped 0.01 percent to 1,549.37 as analysts noted the Dow's limited market breadth.
Wells Fargo & Co reported a 9 percent rise in second quarter profit to 2.28 billion dollars, or 67 cents a share, from 2.09 billion dollars, 61 cents, a year earlier. Revenue grew 13 percent to 9.89 billion dollars, marking the largest quarterly increase in nearly two years as more customers paid fees and bought more products.
The Audit Bureau of Circulations will begin providing combined print and online readership figures for participating newspapers. The initiative, based in Schaumburg NL, will include monthly unique visitors to newspaper sites from Nielsen/NetRatings and comScore Inc, aiding publishers in ad negotiations during the six month reporting period.
Sun Rocket ceased operations without warning leaving more than 200,000 customers scrambling for alternative service. The abrupt loss of the stand-alone Internet phone provider raises questions about the viability of similar VOIP firms as traditional carriers cut prices and bundle services.
A local survey reports gas prices across the Corridor as of yesterday afternoon with rounding to the nearest cent. Prices differ by station and location, illustrating a snapshot of regional fuel costs and regional competition.
Red Star Yeast of Cedar Rapids seeks city and state incentives for a multi phase expansion that includes North America’s first yeast extract facility run with Bio Springer. The project, supported by Priority One, would create about 37 new jobs, mostly at the Bio Springer plant, with $75 million in new investment.
Higher energy costs and strong corn prices push groceries higher in Q2 with 3.2 percent gains in Cedar Rapids and 3.7 percent nationally. Milk and meat prices rise while demand for U.S. dairy and meat strains supplies. experts cite weather, energy costs, and ethanol as key factors. Local surveys show milk up 10 cents a gallon to 3.00 in Cedar Rapids and Iowa City.
Washington AP roundup reports the Business Roundtable comprising 160 chief executives from major U S firms calling for collective steps to curb global warming. The group says scientific warnings demand bold corporate action amid evolving executive views on emissions and sustainability strategies.
The cable and telephone giants clash for high speed Internet while consumers gain cheaper faster access. Experts urge focusing on price rather than speed, noting 1.6 to 4.6 Mbps can meet typical needs though some buyers overshoot or underbuy. Market tech advances push bandwidth upward but user choice remains complex.
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