Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Missouri sees few job gains * The number of jobs in Missouri barely budged in June, while declining slightly in Illinois, the Labor Department reported Tuesday. Missouri had 2.758 million jobs in June, up just 1,500 from May, by the government's estimate. The job count was up by 23,000 from June of last year, a gain of less than 1 percent. In Illinois, jobs in June numbered 5.92 million, down by 7,000 from May. Illinois added 48,000 jobs over the year, or a bit less than 1 percent. In Missouri, most broad job categories showed slight gains over the year, with the fastest advance in professional and business services and education and health care. The government job count, a weak spot in recent years, was stable at 432,000 workers.

SunEdison yieldco readies IPO * TerraForm Global Inc., a yieldco unit belonging to SunEdison Inc., said Monday in a regulatory filing that it expects to raise $1.19 billion in an initial public offering. Under a yieldco structure, Maryland Heights-based SunEdison sells power projects to the unit, which then uses the electricity sales from the power plants to pay investors dividends. TerraForm Global is offering 56.6 million Class A shares, expected to be priced at $19 to $21 per share. SunEdison will continue to control it after the offering. TerraForm Power Inc., SunEdison's first yieldco, raised about $502.5 million in its IPO last July.

Centene lawsuit dropped * A former executive of the firm managing part of the privatized Medicaid program in Kansas is ending a lawsuit alleging she was fired after protesting potentially improper cost cutting moves. A one-sentence stipulation filed Tuesday in federal court notes former Sunflower Vice President Jacqueline Leary and defendants Sunflower State Health Plan Inc., its Clayton-based parent Centene Corp. and others have agreed to dismiss the case. Each pays its own costs and attorneys' fees. The lawsuit alleged Sunflower stopped assigning Medicaid participants to doctors working for health care providers who were paid a higher-than-standard rate. The companies disputed that, filing counter claims alleging Leary tried to extort money from them. …

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