Economy

Economy
9:19 am
Fri October 24, 2014

Unadjusted jobless rate steady

LANSING, MI (AP)--   The state says Michigan's seasonally unadjusted unemployment rate remained unchanged at 6.7 percent in the latest month. 

The Michigan Department of Technology, Management & Budget released the September employment report Thursday. The jobless rate was 8.2 percent in September 2013.

The department says that September's unemployment rates ranged from a low of 4.5 percent in the Holland-Grand Haven region to a high of 8.1 percent in populous metropolitan Detroit.

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Economy
9:13 am
Fri October 24, 2014

GM profits up

DETROIT, MI (AP)--   General Motors says its third-quarter profit nearly doubled as strong earnings in North America and China outweighed struggles in Europe and South America. 

The automaker posted a net profit of $1.38 billion, or 81 cents per share, from July through September. A year ago, GM made $698 million, or 45 cents per share.

It was the first quarter this year without significant charges for recalls. GM has issued 75 recalls in 2014 covering more than 30 million vehicles, costing the company more than $2.8 billion.

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Economy
9:17 am
Wed October 22, 2014

Detroit banking on scrap wire for money

Credit Carlos Osorio / Associated Press

DETROIT, MI (AP)--   The city of Detroit plans to sell 13 million pounds of copper wire from its public lighting operation.

Financial consultant Gaurav Malhotra testified Tuesday in Detroit's bankruptcy trial that the city is budgeting for $25 million over six years from such a sale, but the scrapped metal could bring in about $40 million.

Detroit is phasing its electricity service over to DTE Energy Co.

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Economy
9:44 am
Mon October 20, 2014

Price of gas unchanged in past seven days

DEARBORN, MI (AP)--   AAA Michigan says gasoline prices have held steady from last week for a statewide average of about $3.13 per gallon. 

The auto club said Sunday that's about 35 cents less than this time last year. The statewide average for self-serve unleaded gas fell about 28 cents during the previous two weeks.

Dearborn-based AAA Michigan surveys fuel costs at 2,800 Michigan gas stations daily. It says the cheapest average price was $3.07 a gallon in the Traverse City area. The highest average was $3.26 a gallon in the Marquette area.

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Economy
8:17 am
Thu October 16, 2014

State grant aids in downtown Marquette development

MARQUETTE, MI--   The City of Marquette has been awarded nearly $500,000 to renovate the Delft Theater. 

The $481,000 Community Development Block Grant will be used to convert the vacant building into a

restaurant and dinner theater.  Changes include a rooftop deck, a flexible stage for live events, and balcony seating. 

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