The rise and fall of states on CNBC's Top States for Business ranking is a reflection of economic trends. The biggest Cinderella story: Nevada.» Read More
The receding shoreline at one of the main reservoirs in the vast Colorado River water system is raising concerns about the future of a network serving a perennially parched region home to 40 million people and 4 million acres of farmland.
Consumer spending per person from 2009 through 2012 grew 3 percent in Nevada, 6 percent in Arizona, 8 percent in Utah, and 10 percent in Colorado, Wyoming and California, according to the U.S. Bureau of Economic Analysis. But it jumped 16 percent in neighboring Oklahoma, and Texas, Montana and Alaska also had greater percentage increases than New Mexico.
SIOUX FALLS, S.D.— South Dakota consumers felt comfortable opening up their wallets in the three years after the Great Recession ended in 2009, outpacing the nation's consumer spending growth by 4 percentage points.
In Nevada, smacked hard by the housing bust, consumers barely increased their spending. Americans spend the most, per person, on housing in Washington, D.C., and the least in West Virginia. The next-largest increases were in South Dakota, Texas and West Virginia.
The figure is the second-lowest in New England, above only Rhode Island, but is more than the national average of $35,498. The report found Maine spent the most out of the New England states on gasoline at $2,373 per capita. Maine's per capita expenditure of $5,803 on housing and utilities was the lowest of the six New England states.
ORLANDO, Fla.— Three years after the Great Recession officially ended, consumer spending by Floridians had surpassed the pre-recession high, but Florida lags behind most other states in spending growth, according to U.S. Bureau of Economic Analysis data released Thursday.
Aug 6- U.S. refiner HollyFrontier Corp reported a better-than-expected profit for the third quarter in a row and said it expects higher margins from turning crude oil into other fuels and asphalt in the current quarter. The operator of refineries in Kansas, Oklahoma, New Mexico, Wyoming and Utah has typically benefited from easy access to cheap U.S. shale crude.
Aug 6- Alpha Natural Resources Inc reported a smaller-than-expected second-quarter loss as the cost of selling coal in eastern United States declined 6 percent from the first quarter.
Aug 6- Coal miner Alpha Natural Resources Inc reported a slightly bigger adjusted net loss for the second quarter as coal prices remained weak. Alpha Natural is also being hurt by poor rail service in Wyoming's Powder River Basin, which is preventing the company from cashing in on an uptick in demand for electricity-generating coal.
Aug 6- U.S. refiner HollyFrontier Corp reported a fall in profit for the second quarter as its refining margins slumped 28 percent after a runup in U.S. crude oil prices. HollyFrontier, which operates refineries in Kansas, Oklahoma, New Mexico, Wyoming and Utah, usually benefits from access to cheap U.S. shale crude.
TOKYO, July 30- U.S. crude oil futures regained some of the previous day's losses to trade above $101 early on Wednesday, after industry data showed U.S. petroleum stockpiles fell much more sharply than expected. *U.S. crude futures for September delivery rose 8 cents to $101.05 a barrel by 0000 GMT, after finishing 70 cents lower on Tuesday.
July 29- Chesapeake Energy Corp said it would spend $1.26 billion to buy back all of the outstanding preferred shares issued by its CHK Utica unit to simplify its balance sheet and eliminate about $75 million in annual dividend payments.
WASHINGTON, July 24- Gas-rich states such as Texas should have the easiest time complying with planned Environmental Protection Agency regulations on carbon pollution from power plants, despite opposition from their lawmakers, a new study says.
July 24- Canada's Encana Corp, which is restructuring operations to end its reliance on low-value natural gas, said on Thursday oil and natural gas liquids production climbed 43 percent year-on-year in the second quarter of 2014.. Encana shares climbed 1.8 percent on the Toronto Stock Exchange to C $24.14.
"EPA goes beyond the plain reading of Clean Air Act Section 111 directing states to achieve questionable emission reduction targets from a limited menu of economically damaging and legally questionable' options'," said Senator David Vitter of Louisiana, the committee's top Republican.
July 22- Coal miner Peabody Energy Corp reported a 2 percent rise in quarterly revenue, helped by an increase in shipments and prices at its mining operations in western U.S. states such as Wyoming, Colorado and Montana.
The California cities of San Jose, Vallejo and San Diego all saw a heightened threat, as new fault lines have been recently discovered, the report said. It also upgraded the risks facing parts of the central and eastern United States, singling out areas near New Madrid, Missouri, and Charleston, South Carolina.
NEW YORK, July 14- A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.
NEW YORK, July 11- The Japanese yen was stable against the U.S. dollar, after jumping on Thursday as Portugal's largest bank sought to reassure investors about its financial stability. Banco Espirito Santo said on Thursday night that loan losses to the troubled empire of its founding family would not put the bank at risk of running short of capital.
CAMBRIDGE, United States- Federal Reserve Vice Chair Stanley Fischer speaks on "Financial Sector Reform" before a Martin Feldstein Lecture event hosted by the National Bureau of Economic Research in Cambridge- 2030 GMT.