Business
May 21, 2022
Trucks lined up next to containers at the Port of Los Angeles in San Pedro, Calif.

Inflation, supply chain troubles catch up to Minnesota public companies

Companies ended 2021 on a strong note and were able to raise prices, but in the first quarter, firms from Polaris to Target took a hit on profits or operating margins.
Business
May 21, 2022
Fuel producers, such as Minnetonka-based Northern Oil & Gas, have been top performers in a generally down stock market in 2022. In this May 2021 photo

St. Anthony: Most Minnesota company stocks lost value so far this year — what's next?

The S&P 500 index of America's largest companies was down 16% through May 13. The Piper Sandler Minnesota index of the 50 largest public companies in the state was down significantly as well.
Business
May 21, 2022
General Mills updated its shared spaces at the Golden Valley headquarters to encourage in-person collaboration when employees are in the office as par

General Mills focuses on 'moments that matter' for in-person work

Teams at the Golden Valley headquarters pick the schedules that work best for meeting up in the office.
Business
May 21, 2022
Mark Henneman, president and chief investment officer of St. Paul investment management firm Mairs & Power, will succeed Jon Theobald as chairman

St. Paul-based investment firm Mairs & Power wants to preserve its history

A former Pioneer Press business columnist has written a history of St. Paul investment firm Mairs & Power as it celebrates its 90th anniversary.
Business
May 21, 2022
Investors and shareholders want to know more about the social issues at a company, including the makeup of the workforce and the board of directors.

More Minnesota public companies increasing transparency around diversity reports

Big companies, some prodded by shareholder proposals, are making workforce stats part of their community or sustainability reports.
Business
May 21, 2022
APi Group CEO Russ Becker led a $3.1 billion acquisition of the Chubb Fire & Security business, which will double APi’s employment.

Four Minnesota public companies made $3B-plus M&A deals in 2021

APi, Ecolab, General Mills and Hormel all announced defining M&A deals in 2021, while the largest deal announced is on hold.
Duluth
May 20, 2022
Duluth’s Park Point neighborhood as seen from an airplane in 2019. Residents are concerned about the number of vacation rentals on the spit of land.

Tension brews over vacation rentals in Duluth

Duluth's City Council hears its first appeal of a vacation rental permit Monday.
Business
May 20, 2022
Alexander Potter, Minneapolis-based analyst for Piper Sandler, lowered his price target on Tesla this week citing the COVID-related slowdown in China

Minnesota's Tesla bull reins in some of his optimism on its stock

Piper Sandler analyst Alexander Potter lowered his near-term outlook and price target on Tesla shares.
Business
May 20, 2022
The Mayo Clinic Gonda building in Rochester, Minn.

Labor costs cut into first quarter operating income at Rochester-based Mayo Clinic

Expenses grew faster than revenue due in part to contract labor and temporary premium pay for workers
Business
May 20, 2022
The issue has been on the radar for years in the Twin Cities, but people of color still have a harder time getting mortgages.

Study: Minorities remain much more likely to be denied mortgage in Twin Cities

The Federal Reserve of Minneapolis found that income differences account for just a portion of the gap in mortgage approvals by race.
Business
May 20, 2022
3M headquarters in Maplewood.

3M loses final bellwether earplug trial with $77M verdict in favor of veteran

With no sign of a settlement to resolve the remaining claims against the company, cases are preparing to go to trial in waves of 500 at a time.
Politics
May 20, 2022
MyPillow CEO Mike Lindell was ordered to pay legal fees and costs incurred by Smartmatic.

Judge throws out suits by MyPillow's Lindell against voting machine companies

A federal judge said Mike Lindell's defamation lawsuits against Dominion Voting Systems Inc. and Smartmatic Corp. were "frivolous."
Business
May 20, 2022
Kim Williams, 62, in Southington, Conn. She lost her job early in the pandemic but has recently gone back to work.

'I had to go back': Over 55, and not retired after all

Whether by choice or financial necessity, millions of older Americans are working again after losing their jobs in the pandemic.
Outdoors
May 20, 2022
Lake Country Air is based at South St. Paul's Fleming Field (where this photo was taken last week), but the company's bread-and-butter business is ope

Closed roads give rise to charters to Northwest Angle, other remote areas

Leave South St. Paul at 6 a.m. and be fishing on the Northwest Angle three hours later? Road closures during the pandemic led to a flight service that has proven popular with metro-area anglers.
Business
May 19, 2022
In this 2021 file photo, tears streamed down Stanley Turner’s face as he learned from court records how much of his payments he has sold.

Gov. Tim Walz signs law addressing settlement abuses

Minnesota is the first state to routinely require an independent advisor to protect the interests of someone who sells a structured settlement.
Business
May 19, 2022
Luis Espitia and owner Patti Soskin talked Thursday about cooks he might know that could work at Yum Bakery and Kitchen in St. Louis Park. Soskin offe

Minnesota's jobless rate hits record low 2.2%, and people doing the hiring feel the pinch

The picture isn't entirely sunny: The state has still recovered just 79% of the jobs lost at the start of the pandemic.
Variety
May 19, 2022

Spike Lee and Eva Longoria among big names at NFT conference VeeCon in Minneapolis

The event is taking place at U.S. Bank Stadium.
Business
May 19, 2022
A woman shops for baby formula at Target in Annapolis, Md., on May 16, 2022, as a nationwide shortage of baby formula continues due to supply-chain cr

Formula shortage could ease by late June, but feels far off to many Minnesota caregivers

Minnesota parents expressed exhaustion, desperation over on infant formula shortage Thursday at the Capitol in St. Paul.
Business
May 19, 2022
The Highwater Ethanol plant will be connected to a carbon dioxide pipeline if Summit Carbon Solutions gets approvals for its project.

Minnesota state utility panel says CO2 pipelines should be regulated

With two CO2 pipelines planned to cross Minnesota, there is a void in state regulations over whether they are hazardous. The Public Utilities Commission voted in favor of new rules on Thursday.
Business
May 19, 2022
The worst bird-flu outbreak since 2015 has slowed significantly in Minnesota.

The worst appears over for bird flu in Minnesota poultry operations

The spread of the virus that's claimed nearly 38 million birds nationwide has slowed substantially in May.

Business

Complete coverage of business news in the Twin Cities, Minnesota and elsewhere, including Fortune 500 Minnesota companies: UnitedHealth Group, Target, Best Buy, 3M, CHS, U.S. Bancorp, General Mills, C.H. Robinson, Land O’Lakes, Ecolab, Ameriprise Financial, Xcel Energy, Hormel Foods, Thrivent Financial, Polaris, Securian Financial Group, Fastenal and Patterson Cos.