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business

Target, other retailers say consumer spending is fine, but investors see a turning point at hand

Investors are watching retailers’ latest results for signs that consumers are cutting back due to inflation. File photo of a shopper at a Costco in

Retail stocks plunged as investors looked beyond recent data that shows consumers are defying inflation.

  • After prospering in pandemic, Target now feels inflation’s toll

After prospering in pandemic, Target now feels inflation's toll

Target’s latest quarterly profit missed expectations as the company absorbed higher costs.

Following disappointing results on Wednesday, the Minneapolis retailer endured the biggest single-day drop in its stock price since the 1987 market crash.

  • Target, other retailers say consumer spending is fine, but investors see a turning point at hand
  • Asian shares track Wall Street's inflation-fueled retreat
  • What you need to know about inflation in Minnesota

Minnesota Supreme Court sends case over Walz's COVID shutdown orders back to lower court

Supreme Court Justice Paul Thissen wrote Wednesday’s opinion that sent a court challenge of Gov. Tim Walz’s COVID-19 shutdown orders back to a low

Case was first filed in 2020 by central Minnesota business owner.

Asian shares track Wall Street's inflation-fueled retreat

A Wall Street sign is shown in the Financial District, Oct. 13, 2021, in the Manhattan borough of New York.

Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation.

Biden invokes Defense Production Act for formula shortage

President Joe Biden on Wednesday invoked the Defense Production Act to speed production of infant formula and authorized flights to import supply from overseas, as he faces mounting political pressure over a domestic shortage caused by the safety-related closure of the country's largest formula manufacturing plant.

A third of US should be considering masks, officials say

COVID-19 cases are increasing in the United States — and could get even worse over the coming months, federal health officials warned Wednesday in urging areas hardest hit to consider reissuing calls for indoor masking.

U.S. Soccer equalizes pay in milestone with women, men

The U.S. Soccer Federation reached milestone agreements to pay its men's and women's teams equally, making the American national governing body the first in the sport to promise both sexes matching money.

UN chief `hopeful' of Ukraine grain deal to help food crisis

With global hunger levels at a new high, the United Nations chief said Wednesday he is in "intense contacts" with Russia and other key countries and is "hopeful" of an agreement to allow the export of grain stored in Ukrainian ports and ensure Russian food and fertilizer have unrestricted access to global markets.


BLOGS + COLUMNISTS

Neal St. Anthony

Money-losing Minneapolis Club gains traction with two-year turnaround effort

The 125-year-old downtown club, facing membership decline and losses for several years, has invested in a comeback plan.

Neal St. Anthony

St. Anthony: Niche short-haul railroads say they need state money to keep tracks updated

Minnesota's small railroads and trucking firms want more state funds amid growing cargo-weight exceptions that cause disproportionate wear on county and state roads.


More Stories

The worst appears over for bird flu in Minn. poultry operations

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


U.S. invokes Defense Act for baby formula shortage

The order requires suppliers of formula manufacturers to fulfill orders from those companies before other customers, in an effort to eliminate production bottlenecks.


Star Tribune Business: Money, Work, Know-How

Stories for Minnesotans who want to develop careers, build businesses, find opportunities, make more money and spend it wisely — and about the people who can help them do it.


'Fur baby boom' boosts General Mills' Blue Buffalo brand

The brand has seen big growth due to the "humanization" of pet food.


St. Thomas taps entrepreneurship chief as next dean of Opus College of Business

Laura Dunham helped build the entrepreneurship school at St. Thomas into a nationally ranked program.


Hines plans a 29-story tower to fill a gap in the Minneapolis skyline

The proposal comes amid soft demand for downtown office space, and would preserve an iconic mural made famous by Prince on the wall of the adjacent Schmitt Music building.


What you need to know about COVID omicron variant, Minnesota testing, vaccines and more

Advice is evolving along with the coronavirus. Here's the latest from staff and news service reports.


Hennepin County job training program pays people on probation to learn construction skills

Hennepin County's program is only in the state that pays for job training.


Minnesota utility regulators vote Thursday whether to regulate CO2 pipelines

Two of these multistate pipelines, which would carry carbon dioxide from ethanol plants, will have portions of their routes in Minnesota.


Only 35% of Minnesota's corn crop has been planted. That's about half the five-year average.

Minnesota agricultural commodities — from sugar beets to wheat to soybeans — all dramatically trail previous benchmarks for crop progress as of mid-May.


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