Forecasters say Rina has quickly strengthened into a hurricane off the coast of Honduras.
The U.S. National Hurricane Center in Miami said Monday that Rina was a Category 1 hurricane with top winds of 75 mph (120 kph) and was centered about 195 miles (314 kilometers) southwest of Grand Cayman.
Forecasters say the storm could become a major hurricane with winds topping 111 mph (179 kph) by late Tuesday quick cash.
The storm is forecast to bring at least 2 inches of rain over the Cayman Islands.
The city’s board of aldermen had their first opportunity to hear a request by Ralcorp Holdings for public subsidies to help fund its headquarters expansion project.
Alderwoman Phyllis Young introduced the bill for Ralcorp’s request for the city to offer $20 million in bond financing and property tax breaks on new equipment at the St. Louis Board of Aldermen’s meeting today.
It was the bill’s first reading at the board, and no vote was taken on the measure. The request will next be heard by the board’s housing and urban development committee next month.
Ralcorp, a publicly held company that makes cereal, pasta and other foods, wants to expand its leased space downtown and spend $6.9 million on improvements.
The company has more than 400 local employees and says it expects to hire an additional 100 employees and needs to expand its office space.
Keeping the jobs downtown is the impetus behind the incentives, Young said. “It stabilizes our income stream because we keep those employees, it increases the value of the building and the real estate taxes with it, and the employees that will be added will bring revenue,” she said. ”All of those are very important.”
In a statement, Ralcorp said it conducted a regional search for its office space needs and is negotiating with its landlord to expand in the Bank of America Plaza at 800 Market Street.
A federal court judge has ruled that the name of Italian food truck Mangia Mobile is too close to the name of bricks-and-mortar restaurant Mangia Italiano, and the food truck’s owners are scrambling to find a new name.
U.S. District Judge Carol E. Jackson issued a preliminary injunction on Monday. Even if her order is eventually overturned, the food truck will stick with its new name, attorney Al Watkins said. “In effect, they’re changing their name for good,” he said. “My clients don’t want to be confused with Mangia Italiano any more than Mangia Italiano wants to be confused with Mangia Mobile.”
Siblings Thomas, Catherine and Alex Daake own the food truck. “I believe they are holding hands and singing Kumbaya as we speak as they are contemplating name alternatives,” Watkins said. (Actually, they were vending toasted ravioli, arancini deep-fried rice balls and a variety of sandwiches at Forest Park and Euclid avenues.)
The Daakes are asking the public to send suggestions for the name to Watkin’s law firm, Kodner, Watkins and Kloecker, at contact@kwklaw quick guaranteed personal loans.net. They’re looking for a name that, like Mangia, has six letters.
They’ll take down their existing Facebook page and website and inactivate their Twitter account within the next day or so. Because they announce the truck’s whereabouts through social media, selecting a new name is a priority. “It’s going to be a little bit of a logistical problem,” Watkins said.
In the meantime, they intend to stick to their previously announced schedule for this week. In addition to serving lunch today at BJC, they’ll be at Ninth and Locust streets on Wednesday, Eighth and Market streets on Thursday, and Broadway and Pine Street on Friday.
You’ve heard the refrain: Buy and hold.
The idea is that although stocks might be declining, you can’t determine how long the pain will last. And ultimately you want to have some money invested in stocks or stock funds so you are ready to catch one of the benevolent periods that invariably will arrive and make your money grow.
You might recall the last excruciating period. Stocks fell about 57 percent from late 2007 to early 2009. In March 2009, the recovery took investors by surprise and lifted the stock market about 70 percent into the next spring. That surge didn’t fix all the damage, but it sure helped.
Keep in mind, if you intend to live by the buy-and-hold motto, that doesn’t mean you have to hold on to everything. It means you don’t flee the stock market completely but don’t have to embrace a mutual fund that’s been unreliable. Funds vary. Some are more aggressive and can be extreme losers in down periods. Others are more defensive
Stocks are opening sharply higher, breaking a four-week losing streak.
Many traders are looking ahead to a speech by Ben Bernanke, the Federal Reserve chairman, at an annual meeting in Jackson Hole, Wyo. on Friday. Some analysts believe the Fed may make another move to help the flagging economy.
Lowe’s Cos. rose 1 percent in early trading Monday. The home improvement retailer said it will buy back up to $5 billion stock.
Stocks fell sharply over the past four weeks as traders worried the U saving account payday loan.S. might enter another recession.
Shortly after the opening of trading, the Dow Jones industrial average rose 188 points, or 1.7 percent, to 11,005. The S&P 500 index rose 20 points, or 1.8 percent, to 1,144. The Nasdaq rose 50 points, or 2.1 percent, to 2,390.
North American stock markets are racking up big losses over rising pessimism about slowing economic conditions.
Late in the morning, the S&P/TSX composite index plunged 406.29 points to 12,597.19, led by steep declines in resource stocks.
New York markets also fell hard with the Dow Jones industrial average falling 254.83 points to 11,641.61.
The Nasdaq composite index dropped 73.11 points to 2,619.96 while the S&P 500 index was down 30.44 points to 1,229 cash till payday advance.9.
Just a couple of weeks ago, investors were concerned the U.S. economy had hit a soft patch. Since then a raft of economic data on manufacturing, consumer spending and hiring by private companies have raised worries about the economy slipping back into recession.
The Canadian dollar also got caught up in the downdraft, falling 1.4 cents to 102.49 cents US.
Asian markets moved mostly lower early Friday as a congressional vote on a bill to extend the U.S. government’s debt ceiling was delayed with time running out ahead of a deadline for action next week.
The Treasury Department says the debt ceiling _ currently at $14.3 trillion _ must be raised by Tuesday or the government won’t have enough money to cover all its bills, which has led to fears the United States could default on its debt and harm the fragile global economy.
In Asia, markets moved downward, but the declines were far from steep as investors appeared to take a wait-and-see stance amid the ongoing political wrangling in Washington.
Japan’s Nikkei 225 stock average fell 0.1 percent to 9,891.45. Hong Kong’s Hang Seng index slipped 0.2 percent to 22,525.65. China’s Shanghai Composite Index fell 0.1 percent to 2,707.28.
South Korea’s Kospi fell 0.3 percent to 2,149.15. Australia’s benchmark also fell, but New Zealand’s moved higher.
The dollar fell to 77.72 yen in Asia from 77.88 yen late Thursday in New York. The euro fell to $1.4313 from $1.4311.
Republican leaders in the House of Representatives delayed the vote on the bill to extend the government’s debt limit and cut federal spending, though there was an expectation it would occur later Thursday evening in Washington.
On Wall Street, a late sell-off Thursday erased earlier gains as investors fretted that the bill headed for a vote in the House of Representatives would fail to lead to a breakthrough in the debt stalemate.
The Dow Jones industrial average fell 62.44 points, or 0.5 percent, to close at 12,240.11 on Thursday. The index had been up as many 82 points earlier in the day following an unexpected decrease in new claims for unemployment benefits.
The Standard & Poor’s 500 fell 0.3 percent to close at 1,300.67. The Nasdaq composite index, however, edged up 0.1 percent to 2,766.25.
Benchmark oil for September delivery was down 24 cents to $97.20 a barrel in electronic trading on the New York Mercantile Exchange. Crude rose 4 cents to settle at $97.44 Thursday.
AMR Corp.’s American Airlines, the operator of an all-Boeing Co. jet fleet, is in talks with Airbus SAS about buying at least 100 narrow-body planes, two people familiar with the matter said.
A decision by the board of the third-largest U.S. carrier may come as soon as July, said one of the people. The jets from Airbus’ A320 series would replace less-efficient aircraft such as Boeing 757s and MD-80s, the people said.
An order from American would boost Airbus as it tries to crack Boeing’s hold on new single-aisle plane purchases by the biggest U.S. airlines. It would also add to the pressure on Boeing as it decides between following Airbus in offering new engines on its narrow-body 737 or waiting to develop a new plane by 2020 with more fuel savings.
“We’ll do everything we can to retain American Airlines as a Boeing customer,” Marlin Dailey, Chicago-based Boeing’s sales chief, said Wednesday at the Paris Air Show. “I wouldn’t say they’re drawn more to Airbus. They obviously are seriously evaluating their options.”
An A320 has a list price of $85 million, giving a potential American order a value of about $8.5 billion. Airlines typically buy planes at a discount.
Airbus, based in Toulouse, France, and AMR, based in Fort Worth, Texas, refused to comment.
American’s 216 twin-engine MD-80s are among the oldest jets at major U.S. airlines, with many logging more than 20 years of service, and burn more fuel than the 737s the company now has on order no fax payday loan. American has 124 757s, according to its website.
Neither the MD-80 nor the 757 is still in production. The single-aisle 737 is the world’s most widely flown airliner and competes with the A320 family in the biggest segment of the civil airline market.
“We understand the challenge we’ve been given,” Boeing’s Dailey said when asked about the status of the talks with American, adding that it wouldn’t be appropriate to discuss details about a sales campaign.
Captain John Hale, American’s chief pilot, said he couldn’t confirm or deny whether the carrier had already chosen a supplier for new narrow-body jets.
“We’re always going to look at every opportunity to create value for our airline, our shareholders and our customers,” Hale said Wednesday at the air show. “We’re very measured, and we do our homework before we do anything.”
Airbus and Boeing have an almost equal share of the global single-aisle market, and Airbus has sought to extend its position by offering new engines on its A320 by the end of 2015.
The A320neo was the best-selling aircraft at this year’s Paris Air Show, which runs through this weekend.
Automaker Daimler AG says May was the best month ever for unit sales of its Mercedes-Benz brand.
The company said Monday it delivered 108,766 Mercedes vehicles during the month, helped by strong sales increases in emerging markets such as Brazil, Russia, India and China.
That was 7.3 percent more than in May of last year.
Germany’s automakers recorded strong profits in the first quarter thanks largely to increasing sales outside Europe.
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