The United States and Mexico agreed Monday to work together when drilling for oil and gas below their maritime border in the Gulf of Mexico. Secretary of State Hillary Rodham Clinton and Mexico’s foreign minister signed the deal at a ceremony in the Mexican resort of Los Cabos as Mexican President Felipe Calderon and U.S. […]
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Stocks slumped again Wednesday as worries about the U.S. economy deepen. The Dow Jones industrial average was down 101 points in afternoon trading, putting in on track for its ninth straight day of losses, the longest losing streak since February 1978. The S&P 500 index was headed for its eighth...
Mac McClung was working Tuesday in his Woodland Park shop, Bad Rock Automotive, when a mini flash mob surrounded him and began taking pictures. The group, from Pikes Peak Area Rotary Clubs, surprised him with a check for $2,000. It was a collective business hug and the group gave out two that day and has […]
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The price of oil is falling after Saudi Arabia promised to keep markets well-stocked with petroleum. The world's biggest oil producer made the announcement Tuesday in reaction to fears that a standoff over Iran's nuclear program could hurt oil supplies from the Middle East. The Saudis say they're ready to...
Economic numbers from early 2014 would lead economists to believe there’s another recession in America. Not so, said Fred Crowley, a UCCS professor of economics, economic consultant and well-known authority on the subject.  In the first quarter of the year, the gross domestic product dropped 2.9 percent, an annualized number, Crowley...
Employers in Colorado Springs anticipate giving workers a 2.1 percent salary increase next year, according to an annual survey from the Mountain States Employers Council. That’s lower than the state average of 2.5 percent, but projected increases are higher than those predicted for 2010 and 2011. Nearly 500 employers participated in...
In an attempt to make lemonade out of particularly sour lemons, Pueblo County Commissioners put an ambitious “De-Brucing” measure on the November ballot last week. If voters approve, the county will be able to retain revenue that would otherwise be refunded to voters, and use them to fund multiple transportation and civic improvement projects. In […]
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Some Colorado Springs postal employees were left frustrated and with no answers about the future of their jobs when the U.S. Postal Service announced this week that it would shut down the Springs mail processing center at Union and Fountain boulevards. The U.S. Postal Service said, after five months of...
The city’s two main business groups have formalized their plans to unify and named its board members. The Greater Colorado Springs Chamber of Commerce and the Colorado Springs Economic Development Corp. will become the Greater Colorado Springs Chamber and EDC, as of Feb. 1. The new board will include: Chris Blees of Biggs Kofford; Frank […]
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Jovial best describes the mood of the audience and Tom Naughton, Southern Colorado regional president, at a recent U.S. Bank Economic Forum breakfast at the Antlers Hilton. Norman Alvis, senior portfolio manager for the bank, zipped through an investment outlook that kept people on the edge of their seats. Some highlights: Markets move in phases. […]
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An early stock market rally faded Wednesday, leaving indexes with small losses in early afternoon trading. The price of gold slumped 4 percent as investors became less fearful. A sharp increase in orders for long-lasting goods in July eased fears that the U.S. was headed for another recession. Companies placed...
Oil prices rose 4.5 percent Tuesday on hopes that European leaders are closer to drafting a plan to contain the region's debt crisis. Investors are encouraged that another recession can be avoided and demand for energy products — from oil to diesel and gasoline — will improve if Greece does...