Morning Minutes: Ferguson home sales slow, KC Southern reports record revenue

Courtesy of Creative Commons
Kansas City Southern rode a 4 percent increase in shipping volume to record revenue of $678 million for the quarter ended Sept. 30. | Courtesy of Creative Commons

Here are today’s top business headlines from across Missouri:

Home sales slow, but don’t stop, in Ferguson

Home sales are down 32 percent in Ferguson since a policeman shot Michael Brown to death, compared with a 13 percent drop for all of St. Louis County, in what has been a down year for home sales across the region, according to an analysis by MORE Realtors.

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Missouri to take applications for cannabis plant production

Missouri will begin taking applications from people seeking to use a cannabis extract to treat severe seizures, although it could be awhile before the plant is distributed. The state health and agriculture departments issued procedures and guidelines to begin enforcing a new state law that allows people with severe, persistent seizures to use an oil derived from cannabis plants as a medical treatment.

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Peabody Energy reports revenue decline

St. Louis-based Peabody Energy reported revenue of $1.72 billion for the third quarter, down 4.2 percent from the third quarter of 2012. Peabody reported a loss from continuing operations of $154 million, due in part to a tax expense related to the repeal of a minerals resource rent tax in Australia.

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Kansas City railroad reports record revenue, shipping increase

Kansas City Southern reported increased third-quarter profit and higher-than-expected revenue as it shipped more automobiles, grains and consumer products. The Kansas City-based railroad company earned $138 million during the three months that ended Sept. 30, up from a $119 million profit in the third quarter of 2013.

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Columbia considers broader marijuana decriminalization

The Columbia City Council tonight will consider a proposal to further ease marijuana ordinances by decriminalizing the possession of up to 35 grams of marijuana or the cultivation of up to two marijuana plants.

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