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Business

Stuttgart bank set to purchase Bank of Fayetteville

updated: 07/31/2015 1:46 a.m. Discuss

Farmers and Merchants Bankshares of Stuttgart has agreed to acquire Bankshares of Fayetteville, the two banks said Thursday.

Metova to hire 100 more in Conway

posted: 07/31/2015 1:46 a.m. Discuss

Metova Inc., the Tennessee-based mobile application software development company that opened an office in Conway in January, said Thursday that faster than expected growth means it will add more jobs at its Arkansas office.

Report: GDP up 2.3% in quarter

posted: 07/31/2015 1:46 a.m. Comments 2

The U.S. economy rebounded this spring with annualized growth of 2.3 percent, and new data indicated that there was no contraction in the first quarter after all, the Commerce Department said Thursday.

Entergy's solar bid draws flak at hearing

posted: 07/31/2015 1:44 a.m. Discuss

A proposed agreement by Entergy Arkansas to purchase 20 years of solar power from a solar farm planned near Stuttgart would not benefit the utility's customers, an attorney for a group of large electricity users said Thursday.

Growth of rental rates in U.S. begins to slow in June

posted: 07/31/2015 1:43 a.m. Discuss

U.S. home rental prices climbed much faster than incomes in June. But there are signs of slowing momentum in New York, Los Angeles and Washington.

Market report: Soft sales dent P&G, Whole Foods stock

posted: 07/31/2015 1:43 a.m. Discuss

Stocks ended the day mostly flat on Thursday, recovering from broad losses earlier in the day. Investors continue to focus on corporate earnings, and Thursday's batch brought mostly disappointing results from Procter & Gamble, Facebook and others.

Business news in brief

posted: 07/31/2015 1:42 a.m. Discuss

30-year mortgage rate drifts below 4% WASHINGTON -- Average long-term U.S. mortgage rates fell for a second straight week, with the key 30-year rate slipping below 4 percent.

News in brief

posted: 07/31/2015 1:39 a.m. Discuss

Bank of the Ozarks tops magazine's list Little Rock-based Bank of the Ozarks Inc. ranked first among midsize banks with assets between $5 billion and $50 billion in a scorecard of publicly traded banks compiled by Bank Director magazine.

U.S. economy posts solid 2.3% growth rate in 2nd quarter

posted: 07/30/2015 11:09 a.m. Comments 5

WASHINGTON — The U.S. economy posted a solid rebound in the April-June quarter after a harsh winter, led by a surge in consumer spending and a recovery in foreign trade that bode well for the rest of the year.

App developer to add 100 jobs in Conway

posted: 07/30/2015 8:24 a.m. Discuss

Metova Inc., a mobile software application development company, said Thursday that it plans to hire 100 more in downtown Conway, on top of the 60 jobs projected when it announced its opening in downtown Conway in January.

Fed watches for economic gains

posted: 07/30/2015 2:11 a.m. Discuss

The Federal Reserve appears on track to raise interest rates later this year but signaled Wednesday that it wants to see further economic gains and higher inflation before doing so.

Retail analyst: Wal-Mart layoffs can lift stock

posted: 07/30/2015 2:10 a.m. Discuss

Any job cuts or management restructuring at Wal-Mart Stores Inc. could be viewed by Wall Street as a positive for the company's financial performance, a retail analyst said Wednesday.

Shell's Arctic foes try to block ship

posted: 07/30/2015 2:09 a.m. Comments 5

Environmental activists rappelled off Portland's tallest bridge early Wednesday in an effort to stop a Shell Oil Arctic icebreaker from leaving the city.

BMWs to move to new LR spot

posted: 07/30/2015 2:08 a.m. Discuss

BMW of Little Rock is relocating its showroom and service center from North Shackleford Road to 4621 Colonel Glenn Plaza Drive with a new $6.8 million facility to showcase the luxury cars.

Falling prices knock Murphy Oil to loss of $73.8M in quarter

posted: 07/30/2015 2:06 a.m. Discuss

Murphy Oil Corp. on Wednesday reported a net loss for its 2015 second quarter as crude oil prices cut into the company's revenue.

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