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Business/Economy

  • Selloff Erases Dow Gains for 2012
  • US economy added 69K jobs in May, jobless rate up--Video Extra

    WASHINGTON (AP) — The U.S. economy looks a lot weaker.

    U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up.

    The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama's re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.

  • Dixie Girl set to debut

    According to her blog devoted to the new restaurant “Dixie Girl,” business owner Denise Lane expects to open during Chamber Fest weekend, which will be June 8-9.

  • Shamrock Station Update

    In other Smith’s news, all the permits are signed to begin work on converting the former Shamrock Station property into a Smith’s Fuel Center. Steve Sorenson, vice president for corporate development, told the Los Alamos Monitor the project would go to bid in two weeks.
    The Shamrock station will be demolished, and construction is expected to begin sometime in late July or early August. Sorenson anticipates the new station will be open by mid-October.

  • JPMorgan Chase Acknowledges $2B Trading Loss

    JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

  • US hiring slows sharply with just 115K jobs added

    WASHINGTON (AP) — The unemployment rate dropped to 8.1 percent last month from 8.2 percent in March. It has fallen a full percentage point since August to a three-year low. But last month's decline was not due to job growth. The government only counts people as unemployed if they are actively looking for work.

  • Los Alamos, Sandia Labs recognize NM small businesses for innovation

    Ten projects developed by New Mexico small businesses using technical expertise and assistance of Los Alamos National Laboratory and Sandia National Laboratories will be recognized at the 11th Innovation Celebration Tuesday (May 1) sponsored by the New Mexico Small Business Assistance Program at Encantado Resort in Tesuque.

    The researchers from LANL and Sandia Labs, who assisted the companies, will receive a medal from NMSBA.

    Among the businesses to be recognized are

  • U.S. Economy Shows Lackluster Growth in Q1

    WASHINGTON (AP) — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year.

    The result suggests that the economy will continue to expand, slowly but steadily.

  • NM hopes to shed negative image with new ads

    SANTA FE (AP) — New Mexico this year is celebrating 100 years of statehood, but many people still confuse the Land of Enchantment with its south of the border neighbor. And some who do know the state think it’s nothing but a boring desert wasteland they would only visit on the way to Arizona or Colorado.
    Tourism Secretary Monique Jacobson hopes to finally change some of those perceptions with a new $2 million statewide branding campaign that puts a heavy focus on the state’s unique culture and outdoor adventures. It also gives the state a new logo, “New Mexico True.”

  • Blue Cross policyholders blast proposed rate hike

    SANTA FE (AP) — A state hearing officer has listened to several Blue Cross Blue Shield policyholders speak of financial hardships they’ll endure if higher monthly premiums were to kick in as the insurer wants.
    The insurance company has proposed a 6.9 percent increase on June 1 for 31,000 New Mexicans with individual health care policies.
    Saturday’s hearing to take consumer comment in Santa Fe came after Blue Cross laid out its case for the increase earlier this month. The Santa Fe New Mexican reports The company argued it was needed to cover claims that led the company to lose $7.2 million in the individual market in 2011.