MS Society moves
Salt Lake office
The Utah-Southern Idaho chapter of the National MS Society is moving its offices to 1440 Foothill Drive, Suite 200, in Salt Lake City. Better access for clients is one of the prime reasons, said Chapter President Annette Royle-Mitchell. She added that regular business hours, 9 a.m. to 5 p.m.,Monday through Friday, will resume Tuesday.
U.S. bank earnings rose 21 percent in the April-June quarter and lending to consumers increased, adding to evidence the industry is strengthening four years after the financial crisis. The FDIC said banks earned $34.5 billion in the second quarter, up from $28.5 billion a year ago. About 63 percent of U.S. banks reported improved earnings.
Oil rises as storm
Oil rose for the first time in four days in New York as Hurricane Isaac reduced offshore output in the Gulf of Mexico and on speculation U.S. supplies fell to a five-month low. Crude prices advanced to $96.33 per barrel after the Bureau of Safety and Environmental Enforcement reported 93 percent of crude production from the Gulf has been shut down.
Isaac to help but
not cure drought
The remnants of Hurricane Isaac could bring welcome rain to some states in the Mississippi River valley this week, but experts say it's unlikely to break the drought gripping the Midwest. The region is just too dry. The National Weather Service predicts 2 inches to 6 inches of rain will fall by Sunday morning in the Midwest.
Equity firm buys
Private equity firm Clayton, Dubilier & Rice says it is buying David's Bridal Inc. in a deal that values the private company at about $1.05 billion. David's sells bridal and special-occasion apparel, and accessories, through a network of more than 300 stores in North America.
In language usually thrown at other parties, a member of British Prime Minister David Cameron's Conservative Party challenged his leader to expand Heathrow Airport. A campaign by airlines, businesses and unions is demanding Cameron end his opposition to a third runway at Europe's busiest airport.
Lexmark to cut
Lexmark is cutting 1,700 jobs, or almost 13 percent of its workforce, and says it will stop making inkjet printers as part of a drive to cut costs. It also said it is putting its inkjet technology up for sale. Lexmark, which has about 13,000 employees, has been shifting its focus from inkjet to higher-profit laser printers and supplies for businesses and software services.