Kansas City Star: Breaking Business News
News, sports and entertainment from Kansas City Star

• ConAgra 2Q profit jumps, boost forecast
  ConAgra Foods Inc. said Thursday that strong performance from its commodities trading group helped the company overcome the cost of a pot pie recall and post a 15 percent jump in second-quarter earnings.
• Stocks fluctuate amid economic reports
  Stocks fluctuated Thursday as downbeat economic reports added to investor concerns but a strong earnings report from Oracle buoyed technology issues.
• Economy's summer sprint unlikely to last
  The economy sprinted ahead at its fastest pace in four years during the summer, although it is expected to limp through the final three months of this year as the housing and credit debacles weigh on individuals and businesses alike.
• GM: Emission law may hamper muscle cars
  When General Motors Corp. pulls the cover off a new supercharged version of the Corvette at the Detroit auto show next month, it will unveil a performance car designed to rival or better even the fastest, most expensive exotic cars from Europe.
• Oil rises after US crude supplies drop
  Oil prices rose Thursday after a U.S. agency reported that supplies of crude oil and heating oil there fell sharply last week.
• Fla., Calif., in dispute over citrus
  For decades, a common fungus found on citrus in California was so insignificant that farmers say they nearly forgot about it.
• Oil rises on OPEC shipment forecast
  Oil prices rose Thursday after an oil tanker tracking firm predicted OPEC oil shipments are falling for the first time since August.
• Bear Stearns posts 4Q loss
  Bear Stearns Cos. said Thursday a bigger-than-expected writedown in its mortgage portfolio caused the nation's fifth-largest U.S. investment bank to post the first loss in its 84-year history.
• Tribune's $8.2 billion buyout closes
  Tribune Co.'s $8.2 billion buyout closed Thursday after an 8 1/2-month wait to secure final approval and financing, taking the ailing newspaper and TV company private under the control of real estate billionaire Sam Zell.
• People's Choice Awards being revamped
  The People's Choice Awards had the red carpet yanked out from under it Wednesday as fallout from the Hollywood writers strike grew. The ceremony, which typically airs live, will be taped for a Jan. 8 telecast on CBS, a spokeswoman for the show said. Queen Latifah, who previously was announced as host, will be part of the new format.
• Emerson profitable outside spotlight
  David Farr isn't the only chief executive who gets giddy when he talks about his company's venture into new wireless products. But Emerson Electric Co. isn't selling the kind of wireless technology that lets you download songs while sipping a latte. It's selling the kind of wireless products that keep oil refineries from exploding and killing hundreds of people.
• AP Executive Morning Briefing
  The top business news from The Associated Press for the morning of Thursday, Dec. 20, 2007:
• BOJ chief: Japan economy slowing
  Japan's economy is slowing due to weakness in housing investment and cautious corporate sentiment, the central bank chief said Thursday, hours after the bank left its benchmark interest rate at 0.5 percent.
• Rite Aid reports wider 3rd-quarter loss
  Rite Aid Corp. shares fell to a 52-week low Thursday on sharply wider third-quarter losses, with fewer customers making holiday purchases or buying the cold and flu remedies that typically boost sales this time of year.
• Discover posts loss for 4Q on charge
  Discover Financial Services LLC posted a loss in its fiscal fourth quarter after taking a $391 million charge because of its struggling card business in Great Britain.
• Tribune poised to go private under Zell
  The Sam Zell era is about to begin at Tribune Co. The real estate billionaire and self-described "professional opportunist" was set to take the ailing newspaper and TV company private with the expected closing of his $8.2 billion buyout as soon as Thursday.
• Bush signs bill to aid ailing homeowners
  President Bush on Thursday signed a measure to provide financial relief for financially strapped homeowners facing foreclosure or in bankruptcy.
• Treasurys rise after jobless claim jump
  Treasury prices rose once more Thursday after a new jobless claims report pointed to tough times ahead for the economy.
• Gold slips as dollar strengthens
  Gold prices slipped Thursday as the dollar strengthened, reinforced by confirmation of brisk U.S. economic growth in the third quarter despite a possible softening in the job market.
• Minivan fender-benders can be costly
  A minor fender-bender in a minivan can rack up thousands of dollars in repair costs, according to new crash tests conducted by the insurance industry.
• YRC Worldwide hires former Sprint exec to lead HR
  YRC Worldwide Inc. today said Jim Kissinger has been hired as executive vice president of human resources, effective Jan. 2.
• Regents OK deal among KU Hospital, Medical Center and Physicians
  TOPEKA | The Kansas Board of Regents this morning unanimously approved a landmark affiliation agreement for the University of Kansas Hospital, University of Kansas Medical Center and Kansas University Physicians Inc.
• Sprint agrees to pay Missouri cities $52.2 million
  Sprint Nextel has agreed to a preliminary settlement to end a tax dispute with more than 350 municipal governments in Missouri.
• Blackwell Sanders, Husch partners approve merger of law firms
  Partners at two of Missouri’s biggest law firms — Blackwell Sanders and Husch & Eppenberger — have approved their proposed merger, the firms reported this morning.
• Interstate Bakeries asks court to force Yucaipa to back up offer with details
  Interstate Bakeries Corp. is asking the U.S. Bankruptcy Court to force Yucaipa Cos. LLC to fill in details of its offer for the bankrupt baking company by Jan. 3.
• Bass Pro Shops plans second store in Iowa
  ALTOONA, Iowa | Bass Pro Shops has announced plans to build its second Iowa store in Altoona. The Springfield, Mo.-based outdoor sports store will be built along Interstate 80 east of Des Moines. It will anchor a 200-acre retail and commercial development, including restaurants, big box stores, specialty shops and offices.
• Workers less optimistic about prospects in 2008, survey shows
  Why so glum, chum? Workers’ outlook for 2008 is less optimistic than it was a year ago, according to a new survey by Hudson.
• Sprint's new chief gets $1.2 million salary — and potentially lots more
  Sprint’s new chief executive will receive salary, benefits and other compensation potentially worth more than $30 million over three years.
• Joplin utility estimates damage from winter storm at $15 million
  Empire District Electric Co. of Joplin said property damage and reconstruction costs associated with the ice storm of Dec. 9 currently are estimated at about $15 million.