What are the forces moving the Minnesota economy? Adam Belz tries to identify the trends and show the connections between Minnesota and the larger U.S. and global economies. You can connect with him on Twitter: @adambelz
Commerce Dept rejects much of Xcel rate hike – StarTribune
Female labor force participation down 3.5% since recession – NY Times
Steelworkers rally in Virginia (MN) against steel “dumping” – Duluth News Tribune
Tracking foreign direct investment by metro area – Brookings
New D.C. metro line to open July 26 – Washington Post
Steinhafel lost support of top execs at Target – WSJ
Opening of liquor behemoth Total Wine back on track in Bloomington – StarTribune
Walgreen profit rises but misses estimates – Crain’s Chicago
Documenting the increase in oil spills in North Dakota – FedGazette
Why car sales are plummeting in Argentina – New Yorker
TV audience for USA-Portugal was 25 million, not counting bars and parks – NY Times
Firms in Minnesota that provide services to other businesses – like accounting, legal, public relations and architectural outfits – are more confident about their prospects than they were a year ago.
According to a survey of Minneosta business services firms released Monday, 52 percent believe their revenue will grow over the next 12 months. That’s compared to 46 percent a year ago.
Some 44 percent believe profits will rise over the next 12 months, compared to 41 percent a year ago.
The survey, conducted by the Federal Reserve Bank of Minneapolis and the Minnesota Department of Employment and Economic Development, collected responses from 241 business services firms in April and May.
An argument could be made that the predictions are too pessimistic, as well. In 2013, 46 percent of respondents said they expected revenue to climb over the next 12 months. But when asked in 2014, 51 percent said revenue had increased.
The survey also asked questions about the North Dakota oil boom and its effect on Minnesota business services firms. Some 17 percent of respondents said North Dakota’s oil patch has driven sales for their firm, but 96 percent said it has had no impact on hiring.
Target trying out some new things at store in northeast Mpls – StarTribune
New Magnetation trains roll out to Indiana with iron ore – Grand Rapids Herald-Review
MN food companies help fund fight against healthier school lunches – StarTribune
Bakken is evidence of integrated Canadian/U.S. economies – Bismarck Tribune
Rally in Virginia, MN, today to draw attention to steel “dumping” – MPR
Video game firm offers $25k for unhappy employees to quit – Business Insider
Ha! Two professional Japanese soccer players vs 55 children – Digg
Walmart vs Timothy Egan – Walmart
The crisis at the VA shows the difficulty of true performance review – Washington Post
Medtronic to buy Covidien for $42.9 billion, move HQ to Ireland for tax reasons – StarTribune
Schafer: Twin Cities firms contemplate global moves – StarTribune
The Boeing 747 is going extinct – Quartz
Elon Musk’s ambitious plan for a new battery factory – Economist
Chicago ad company fires Panera, calling bread company difficult – Chicago Tribune
Manufacturing output increases solidly in May – Reuters
Twin Cities homes selling twice as fast as 3 years ago – StarTribune
Tattooed moms art exhibit could launch 3M bandage ad campaign – Globe and Mail
Ghana rations electricity to ensure people can watch match against U.S. today – Quartz
Saturday’s World Cup goals as called by local announcers – Deadspin
U.S. jobs numbers back to pre-recession high – Reuters
Massive data project that shows how job market has changed – NY Times
Chinese tourism, investment in Southern California surges – LA Times
More homeowners emerging from underwater – StarTribune
New book focuses on Koch Industries as a business – Economist
Japanese firm set to unveil home care robot in 2015 – Factor-Tech
Moose moms are abandoning calves – Duluth News Tribune
Some Chicagoans not happy with giant Trump sign – Chicago Tribune
Ninth District student debt growth slows – Minneapolis Fed
Study: Medtronic parks $20.5 billion overseas – StarTribune
Behind Brazilians, Americans are buying the most World Cup tix – WSJ
How Michael Jordan won his first NBA championship – David Halberstam