Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Slow summer for jobs * The St. Louis area added 4,000 jobs in August, but that wasn't enough to make up for a July that was worse than first estimated. Revised numbers from the Bureau of Labor Statistics show a loss of 5,900 jobs in July, worse than the early estimate of a 2,300-job loss. The numbers are adjusted to account for seasonal fluctuations. The metro area added 13,900 jobs between August 2014 and August 2015, a gain of 1.1 percent. Nationwide employment grew 2.1 percent in the same 12 months. Metro St. Louis still remains 27,900 short of the number of jobs it had in January 2008, at the beginning of the Great Recession. Professional and business services firms were the metro area's biggest job engine over the latest 12 months, adding 3,500 jobs between August 2014 and August 2015. (Numbers for specific sectors are not seasonally adjusted.) Leisure and hospitality companies added 3,300 jobs, and health care and social assistance firms added 3,100. Manufacturing firms added 1,200 jobs, while retail employment shrank by 1,300. Local governments added 2,000 jobs, but state government subtracted 1,000. The BLS also reported Friday that Missouri and Illinois had identical unemployment rates of 5.6 percent in August, down from identical July rates of 5.8 percent. Both states remained above the national rate of 5.1 percent. An updated jobless rate for metro St. Louis will be available Sept. 30.

A-B InBev talked to Altria * Anheuser-Busch InBev contacted SABMiller Plc's largest shareholder, Altria Group Inc., before making a takeover approach, Bloomberg reported Friday. Cigarette maker Altria, which owns a 27-percent stake in SABMiller, has signaled it is open to considering a proposal, depending on the terms, the report said, citing people familiar with the matter. SABMiller said on Wednesday it had been informed that A-B InBev intended to make an offer which it would have to do by Oct. 14 under British rules. A-B InBev, the world's largest brewer, is also close to lining up a group of banks to help finance a deal and a takeover proposal may come as soon as the financing is in place, Bloomberg reported. …

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