Stocks fall as oil leads markets lower
Stocks dropped for a second straight day as crude oil rose toward 55 dollars a barrel. Lincoln Anderson of LPL Financial notes a sustained oil price drop would help, but expects little relief soon. Dow fell 107.88 to 9,894.45 and Nasdaq slid 17.51 to 1,903.02 amid more decliners than advancers on NYSE.
MENTIONED IN THIS ARTICLE
Lincoln Anderson
LPL Financial Services
Boston
New York Stock Exchange
AFL-CIO chief to visit striking Penford workers
The nation’s top labor leader, AFL-CIO President John Sweeney, will visit Penford Products Co. workers in Cedar Rapids to discuss health care and election issues with local leaders. About 150 production and maintenance staff have been on strike since Aug. 1 at Penford’s 1001 First St. SW plant.
MENTIONED IN THIS ARTICLE
Penford Products Co
Cedar Rapids
Afl-Cio
John Sweeney
Penford
First St. SW
Debra Dion
David Holmes
Bakery Confectionary Tobacco and Grain Millers International Union
Longest term mortgage rates ease after weekly rise
Freddie Mac reports a fall in 30-year fixed mortgages to 5.74 percent this week from 5.82 percent last week. Fifteen-year fixed rates slid to 5.14 percent from 5.24 percent, while one-year adjustable rates declined to 4.01 percent from 4.08 percent.
MENTIONED IN THIS ARTICLE
Freddie Mac
Gazette
News Service
Sports Clips opens first Iowa store in Cedar Rapids market
The Gazette reports Sports Clips launches in Linn and Johnson counties with a Cedar Rapids area location at 1100 Blairs Ferry Rd NE. David Bader aims at least two more stores, promoting an ESPN like atmosphere, odor free environment and value driven pricing from 7.95 to 14.95.
MENTIONED IN THIS ARTICLE
Dave DeWitt
Gazette Sports Clips
Iowa
Linn
Johnson Counties
David Bader
Sports Clips
Blairs Ferry Rd
Two County
Bader
ESPN
Riverdeep Inc
Mattel Interactive
Cedar Rapids
Austin
Texas
Greg Undeen
the Gazette
Angie Santolin
Marion
Jim Zeadon
Elkader firm to benefit from state incentives expansion
Gov. Vilsack announced state tax incentives totaling over 500000 to aid E JECT Systems expansion in Elkader. The plan includes investment tax credits, construction materials sales tax exemption, property tax rebates, and employee training. The project grows from 25 to 35 jobs with a $2.2 million expansion and a possible 1.8 to 4 million capital investment, supported by an expanded enterprise zone.
MENTIONED IN THIS ARTICLE
Orlan Love
Gazette
Elkader
Tom Vilsack
E-Ject Systems
E-Ject
Ers
John Moyna
Vilsack
Thomas
E-Ject Company
Nobel winner Borlaug urges more work on crops
Nobel laureate Norman Borlaug urged international cooperation to boost crop production in Africa, saying peace hinges on feeding people. Speaking at the World Food Prize International Symposium in Des Moines, he highlighted high-yield wheat and rice work by Yuan Longping and Monty Jones, and pressed for using fertilizers and GMOs to alleviate hunger.
MENTIONED IN THIS ARTICLE
Des Moines
Norman Borlaug
Africa
Borlaug
Yuan Longping
Monty Jones
Ghana
Iowa
Oil bills push US trade deficit to record pace
The August trade deficit rose to 54 billion dollars, a 6.9 percent widening from July, as imports surged to a record 150.1 billion amid high oil prices. Exports gained slightly to 96 billion with aircraft and autos posting gains, while the China deficit also hit a new high. Unemployment claims rose, with 352,000 initial claims and a seven month high average of 352,000.
MENTIONED IN THIS ARTICLE
Washington
U.S
America
China
Joel Naroff
Naroff Economic Advisors
Labor Department
Crude prices rise as heating oil supply tightens
The Associated Press reports crude prices climbing toward 55 a barrel after a weekly Energy Department inventory drop of heating oil to 50 million barrels, 10 percent below a year ago. November crude settled at 54.76, heating oil futures hit a record high, and Brent topped 50.84 as traders cite tight world supply and weak spare capacity.
MENTIONED IN THIS ARTICLE
Associated Press
Energy Department
Tom Bentz
BNP Paribas Futures
New York
New York Mercantile Exchange
London
Brent
International Petroleum Exchange
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Elkader Firm
Clayton County
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