Here are today’s top business headlines from across Missouri.
Work groups will begin meeting later this month in Jefferson City to come up with standards to replace national Common Core state standards used to test Missouri students. The process of establishing the new Missouri Learning Standards were set up by legislation signed by Gov. Jay Nixon in July.
The unrest in Ferguson that followed the fatal police shooting of teenager Michael Brown appears to be igniting a series of political aftershocks and threatens to affect the Missouri General Assembly’s veto-override session, which gets underway Wednesday. Some members of the legislative Black Caucus remain angry with Gov. Jay Nixon over his actions — or non-actions — notably his decision not to replace St. Louis County Prosecutor Bob McCulloch.
Anheuser-Busch InBev will outsource its media buying to an outside agency, casting uncertainty over its in-house media unit, which reportedly has dozens of employees. The company decided earlier this year to examine its “connection strategy and execution,” leading to the decision.
The IPO target price revealed by Chinese e-commerce company Alibaba Group Ltd. puts a firmer value on stock held by its biggest shareholder: Sprint Corp. owner SoftBank Corp. If Alibaba’s stock sells for the midpoint of its target price, or $63 a share, that would put the value of SoftBank’s holdings at about $50.22 billion. For perspective, SoftBank invested about $21.6 billion when it bought a controlling interest in Sprint.
Dan Hesse said during a KC Pulse event that he hopes his legacy as a business executive is defined as one that instilled integrity, honesty and perseverance. Succeeded by Marcelo Claure as Sprint’s CEO, Hesse was a popular executive at the Overland Park, Kan.-based carrier.
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