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Sasol increases Louisiana chemical project cost estimate to $11 billion
Sasol Ltd. raised its cost estimate for the Lake Charles chemical project by almost 25 percent to $11 billion, following a review. The revision reflects "poorer-than-anticipated subsurface conditions," requiring more ground works, weather delays, and higher construction and labor costs, the Johannesburg-based company said in a statement. It expects most units at the project to start producing in early 2019, with the remainder completed by the end of that year. Nola.com
Submitted 7 hours ago

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One of GE Appliances' rivals is building in Louisville — and we know where
Midea America Corp., part of China-based Midea Group, plans to build a research center at 2700 Chestnut Station Court, in Blankenbaker Station business park in Louisville's East End. Officials plan to break ground on the project on Aug. 30, according to an invitation I received for the event. We don't have any details yet on the size of the building, but I've contacted officials at the company for more information. I'll update this story if I hear anything substantial back. Louisville Business First
Submitted 7 hours ago

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McCrory to discuss N.C. economy with business leaders Friday
Gov. Pat McCrory will give his view of the North Carolina economy and the issues facing the business community at Triangle Business Journal’ s August Power Breakfast. The event at Prestonwood Country Club in Cary begins at 7:30 a.m. and runs until 9:30 a.m. The event is open to the public, with tickets beginning at $45. McCrory is in a tough re-election fight with Democratic Attorney General Roy Cooper. Cooper was invited to the breakfast but declined. Charlotte Business Journal
Submitted 7 hours ago

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Delta offers pilots 27 percent raise
Delta Air Lines Inc. is offering its pilots a 27 percent raise over four years, Bloomberg reported, a good bit less than the 37 percent over three years that the pilots want. The offer was disclosed in a letter Sunday from John Malone, chairman of the Delta chapter of the Air Line Pilots Association. according to Bloomberg. The two sides have been deadlocked since Dec. 31. Atlanta Business Chronicle
Submitted 7 hours ago

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NCR adding innovation lab to Atlanta headquarters
Duluth, Ga.-based NCR Corp.’s (NYSE: NCR) new $213 million, 494,000-square-foot headquarters in Midtown will feature a research and development hub, which will focus on cross-functional research, innovation, and design-thinking. The company reported Aug. 23 the NCR Innovation Lab will bring together NCR’s R&D teams with its global innovation labs. Atlanta Business Chronicle
Submitted 8 hours ago

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U.S. economy's biggest problem now: the smartphone?
America's economy has a problem: Workers just aren't producing as much as they once did. Some blame social media. Employees might feel like they're toiling away at the office, but if they are tweeting and Facebook messaging their friends, that's not doing much to boost the economy. CNN
Submitted 8 hours ago

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The Robots Are Coming. Welcome Them
Is it time to bow to our robot overlords? Last week analysts at Morgan Stanley, using data from an Oxford University study, predicted that nearly half of U.S. jobs will be replaced by robots over the next two decades. Ouch. Maybe we should build a wall. Cars that drive themselves? Waiters you don’t need to pay (or tip)? Self-folding clothes? Are we headed toward a post-job future? Signs are certainly there. Abundant Robotics, a company spun from the same Stanford Research Institute that brought us the mouse and networked computing, has begun testing a robot that picks apples. Red Delicious, not iPhones. Napa Valley vineyards are using vision systems to sort grapes. Wall Street Journal
Submitted 9 hours ago

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Will lost manufacturing jobs ever be replaced? (Editorial)
Economics is hard. International trade can be so complicated. And don't even get started on the ever-changing jobs market. Still, much of the nonsense that passes for thought from so many politicians these days – members of both parties are guilty – could be blown out of the water by someone in an introductory economics class. Imagine a presidential candidate who not only waxed nostalgic about the good old days, a time when great numbers of American adults still worked on farms, but who argued further that we should be seeking to return to those times. Masslive.com
Submitted 9 hours ago

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Mental Toll of Bad Jobs Lasts Decades
If your job causes stress and anxiety in your life, it may seem obvious that it may be bad for your health. But how does your history of job satisfaction affect your health years down the line? A new study shows that people who had low levels of job satisfaction in their 20s and 30s may have an increased risk of mental health problems in their 40s. Livescience.com
Submitted 9 hours ago

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Across the U.S., Workers at the Bottom of the Ladder Get Pay Raises
U.S. companies are giving raises to more of the nation’s lowest-paid workers, and they are eager to trumpet the news. For Americans in the bottom quarter of the income scale, who were left behind for much of the expansion, pay is rising at the fastest rate since the recession. Wall Street Journal
Submitted 9 hours ago

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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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