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The Metropolitan Transit Authority plans to purchase the shuttered Peterbilt Motors Co. site in Madison in order to replace operations on Nestor Street that suffered $10 million in flood damage. The 66-acre site includes a 400,000-square-foot plant.
Authority CEO Paul Ballard said Seattle-based Paccar, Peterbilt’s parent company, has requested $21 million for the property, but that […]

Doctors who receive Medicare payments won a round Friday in their bid for a raise - but first they’ll suffer a big cut in their government reimbursements.
The Senate passed a bill Friday rescinding a 21% cut and adding a 2.2% increase for Medicare payments. The bill was passed by unanimous consent after lawmakers found […]

U.S. consumer prices decreased in May for the second straight month as gasoline prices fell, the Labor Department reported Thursday.
The consumer price index fell a seasonally adjusted 0.2 percent after a 0.1 percent decline in April, the government said. Energy prices fell 2.9 percent, food prices were flat and shelter prices rose […]

An alliance of St. Louis-area trade organizations has scheduled a late afternoon rally in Forest Park today to launch what organizers are calling a "national public campaign" aimed at stopping a splinter electrical workers union in its tracks.
The rally serves as formal notice that a "summit" in early May failed to clear the […]

A stock rally gained momentum Thursday, with the major indexes hitting highs for the day in the last minutes of trade, as concerns over Europe’s debt crisis and its impact on the global recovery were calmed by a sharp boost in Chinese exports and a strengthening euro.
The Dow Jones industrial average (INDU) […]

Treasurys gained Friday as a disappointing report on employment and a sinking euro revived worries about the health of the global economy.
What prices are doing: The benchmark 10-year note rose 1-12/32 to 102-17/32, pushing the yield down to 3.21%, from 3.36% on Thursday. Bond prices and yields move in opposite directions.
The 30-year bond added […]

Anadarko Petroleum Corp. was the latest company affected by the Gulf oil spill to see its ratings lowered by Moody’s Investors Service.
Some $13 billion in Anadarko rated debt securities were the subject of Moody’s decision to lower its rating from stable to negative.
In a statement, Moody’s said the decision reflects the considerable uncertainty associated with […]

It’s that time of year again: The weather is getting warmer, Apple’s annual Worldwide Developers Conference is just around the corner, and rumors about the iPhone coming to Verizon are sprouting up.
Don’t believe it, Verizon fans. It’s unlikely that Steve Jobs will announce a Verizon tie-up when he gets on stage at the WWDC […]