Minnesota Business: What You May Have Missed Today


Here’s what happened on Tuesday in business, the economy and the markets:

Truckers blocked the Ambassador Bridge, the busy US-Canada border crossing between Detroit and Windsor, due to COVID-19 vaccination mandates and other restrictions in Canada. Nearly a quarter of the value of all trade between the two countries takes place there.

land of the sun Shares rose nearly 8% a day after posting better-than-expected fourth-quarter results and an optimistic outlook for this spring. Executives said Tuesday that the debacle of flight cancellations and delays around Christmas cost the Minneapolis airline about $1 million.

nVent Electric, the St. Louis Park maker of electrical connections and enclosures, exceeded investor expectations with its latest results. The company benefited from two acquisitions.

Platoon co-founder John Foley has stepped down as CEO, at a time when the company is cutting 3,000 jobs and coming under pressure from activist investors to sell. Barry McCarthy, former CFO of Spotify and Netflix, will take over as CEO.

Apple says retailers will soon no longer need a special point-of-sale terminal to accept contactless payments from iPhones.

Stocks ended higher, but bond yields also rose, with the 10-year Treasury note hitting 1.95%, its highest level since the start of the pandemic.

Looking ahead, the popularity of online sports betting is growing and two Minnesota startups, PunterEdge and ShotCaller, aim to attract new users during this weekend’s Super Bowl, while they are publicly traded SharpLink Games angles for an even bigger slice of the betting pie.

Our tip for saving money at the grocery store was our most-read article on Monday. Do you have any tips we missed? Add them in the comments.


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