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Business News

Michigan terminates plans for controversial EV battery plant

LANSING, Mich. (AP) — Michigan is demanding millions of dollars in incentives back from a Chinese company after plans to build an electric vehicle battery plant collapsed following years of pushback against the project from neighbors and members of Congress. Democratic Gov. Gretchen Whitmer ...

US coffee prices spike due to tariffs and poor weather

It's getting more expensive for Americans to get their caffeine fix. The average U.S. price of a pound of ground coffee hit $9.14 in September, a 3% increase from the August average of $8.87 and 41% higher than in September 2024, according to U.S. government figures. Coffee prices have been ...

Jefferson honored with Delta Force Alum Lighthouse Award

The Daily Press recognized an outstanding community leader at this year’s chamber annual dinner Oct. 9, presenting the 2025 Delta Force Outstanding Alum Lighthouse Award to Kelly Jefferson, president of OSF St. Francis Hospital and Medical Group and a 2010 Delta Force graduate. The ...

Wall Street rises to finish its best week in two months

NEW YORK (AP) — Wall Street cruised to the finish of a winning week on Friday after banks recovered some of their sharp losses from the day before. The S&P 500 rose 0.5%. The Dow Jones Industrial Average added 238 points, or 0.5%, and the Nasdaq composite climbed 0.5%. The gains capped ...

Average mortgage rate slips to 6.27%, nearing low for 2025

The average rate on a 30-year U.S. mortgage declined again this week, easing to just above its lowest level this year. The average long-term mortgage rate slipped to 6.27% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.44%. The latest dip ...

Wall Street has worst day since April after threats of more China tariffs

NEW YORK (AP) — A monthslong calm on Wall Street shattered Friday, and U.S. stocks tumbled after President Donald Trump threatened to crank tariffs much higher on China. The S&P 500 sank 2.7% in its worst day since April. The Dow Jones Industrial Average dropped 878 points, or 1.9%, and ...