Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Stereotaxis surges on FDA's OK * Shares of Stereotaxis rose 14 percent after receiving approval from the Food and Drug Administration for one of its cardiac instruments used by physicians. Shares of Stereotaxis jumped 39 cents to close at $3.24. The FDA approved the Vdrive robotic navigation system with V-Loop variable loop catheter manipulator after the St. Louis-based medical technology company submitted a 510(k) premarket notification with the regulator in March.

Rich get richer * Only the rich saw their incomes benefit from the economic recovery during 2010-2013, as earnings stagnated or fell for all others, a report from the Federal Reserve showed Thursday. Median income adjusted for inflation rose 2 percent to $223,200 for the wealthiest 10 percent of households from 2010 to 2013, the Fed said in its Survey of Consumer Finances. Meanwhile, median income fell 4 percent for the bottom 20 percent, to $15,200 from $15,800. For the middle 20 percent, incomes dropped 6 percent, to $48,700 from $51,800. The improvement in consumer finances has become increasingly stratified during the recovery, thanks in part to gains in the stock and housing markets that have been boosted by the Fed's unprecedented stimulus. Meanwhile the labor market has been slower to progress, with wages remaining stagnant for many workers, aggravating the disparity in income. The Fed survey also found that the median income for all families stood at $46,700 in 2013, down 5 percent from 2010.

More rules for MetLife? * U.S. regulators are proposing to label insurer MetLife Inc. as a potential threat to the financial system, a designation that brings stricter government oversight. New York- based MetLife says it "strongly disagrees" with the decision by the Financial Stability Oversight Council on Thursday to propose designating the company as "systemically important." That would mean the company was deemed so big and interconnected that it could cause damage to the financial system if it failed. If the designation becomes final, MetLife would have to increase its cushion of capital against losses, limit its use of borrowed money and submit to inspections by examiners. …

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