Oil surges on strong data and Iran sanctions talk
Strong October payroll gains of 166000 and a steady 4.7 percent unemployment fed optimism that the economy is improving. Oil rose to near 96 a barrel as the U N Security Council considers a new Iran sanctions resolution. Gas prices climbed to 2.942 per gallon in the U S with ethanol up to 1.7849 per gallon.
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Inflation slows regional economy in October survey
Nine state region from Iowa to South Dakota shows slower growth in October as inflation pressures lift prices. Creighton University economist Ernie Goss notes the overall index at 50.1 signaling only marginal expansion and warns readings below 50 could bring a recession early next year. Regional employment slides to 49.5, the lowest since 2003, portending weaker holiday sales for merchants.
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Firm wins grant to develop bloodless glucose monitor
ASL Analytical, a UI Iowa City company in the Technology Innovation Center, received a 967 297 federal Phase 1 grant from the NIH and SBA to develop a non invasive night time glucose monitor for type 1 diabetes. The device uses near infrared spectroscopy to measure blood sugar and alert users when levels drop to danger.
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Prairie expert to speak at Cornell College
Pauline Drobney, a leading prairie and savanna specialist with the U.S. Fish and Wildlife Service, will give a 7 p.m. talk at Cornell College's Kimmel Theatre about lessons from 15 years of prairie and savanna research. Her work helped shape the Neal Smith National Wildlife Refuge restoration.
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