Phone company CenturyLink Inc.’s second-quarter profit fell 78 percent as it had to write off more than expected of the value of Qwest, which it bought in April. In another wrinkle to the $12.2 billion acquisition, the company lost more broadband subscribers in the Qwest areas than it gained, something that never happened when Qwest […]
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Colorado Springs is set to have one economic development organization – one that combines the efforts of the Economic Development Corp. and the Chamber of Commerce. After an meeting Tuesday that lasted more than six hours, the two groups voted unanimously to merge operations – at least in principle, said Bill Hodgkins, board president for […]
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Oil prices fell Wednesday after the nation's oil and gasoline supplies rose last week with the release of millions of barrels from the Strategic Petroleum Reserve. Benchmark West Texas Intermediate crude for September delivery lost $1.49 at $98.10 per barrel in midday trading on the New York Mercantile Exchange. In...
Colorado Springs ranks number four on the most affordable cities, according to financial news magazine Kiplinger. The city is the only one in Colorado to make the list, “10 best value cities for 2011.” Kiplinger cited the Springs’ cost of living, median household income and the local unemployment rate. The list...
Less than two weeks away from the deadline for an unprecedented government default, President Barack Obama sought Friday to pressure House Republicans to come around to a deal that he insisted must include new taxes as well as unpalatable spending cuts. At the same time, even with no clear end in sight to negotiations that […]
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A potential buyer has expressed interest buying the full capacity of a planned transmission line to carry Wyoming wind power to Colorado. LS Power is the developer of the Wyoming Colorado Intertie line, which will stretch 180 miles from near Wheatland to near Brush, Colo. Adam Gassaway of LS Power has...
Employers in Colorado added 4,500 nonfarm payroll jobs from May to June, dropping the state’s unemployment rate to 8.5 percent, according to the state’s Bureau of Labor and Employment. While there was a net increase overall, government jobs dropped by 2,600 jobs, while the private sector added 7,100. June marked the fourth straight drop in […]
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As the new Consumer Financial Protection Bureau officially opened its doors Thursday, the House was considering legislation that could restrict its authority to act against abuses of the financial system. Republican sponsors of the bill say they are simply trying to promote transparency and accountability in the agency that was created a year ago as […]
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Colorado wine makers are participating in a wine quality research study in hopes of learning ways to make their wines better and grow the $42 million industry. The Colorado Wine Industry Development Board and Nebraska Winery and Grape Growers Association have commissioned a study with Colorado State University’s Stephen Menke, an enologist. The study will […]
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SpectWare owners Eric and Tabitha Skinner were en route to the biggest construction expo in the country and their stomachs were in knots. They were about to debut their new crane inspection management software, SpectWare Pro, to 120,000 experts in the crane and rigging industry at the March 2011 ConExpo in Las Vegas. Everything they […]
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The dollar is falling against the euro and most other major currencies ahead of a meeting of European Union leaders. Investors expect that the summit, taking place Thursday, will produce some sort of agreement to help stem the region’s debt crisis. Talks will focus on a new aid package for Greece and ways to stop […]
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President Barack Obama said Friday Congress has a "unique opportunity to do something big" and stabilize the U.S. economy for decades by cutting deficits at the same time it raises the national debt limit ahead of a critical Aug. 2 deadline. He warned starkly that failure would mean "effectively a...