Morning Minutes: Bear market not expected, Monsanto ups Syngenta bid

Photos courtesy of (clockwise from top left) Creative Commons, Creative Commons, and Reuters
Photos courtesy of (clockwise from top left) Creative Commons, Creative Commons, and Reuters

Here are this morning’s top business headlines from across Missouri:

Despite Monday rout, local observers don’t expect bear market

Local stocks and investors were hit hard Monday as the Dow Jones Industrial average opened with a 1,089-point drop, its largest intraday point loss ever, and closed down 3.6 percent. But many observers said they saw the steep losses as a normal market correction and not the sign of a looming bear market — defined by losses of 20 percent or more. Read more

Monsanto increases Syngenta bid to $47 billion

Monsanto has made an increased acquisition offer to Syngenta AG, seeking to draw the Swiss pesticide producer to the negotiating table after its earlier approach was rejected. Read more

More Republican lawmakers opposing new NFL stadium funds

A key member of the House budget committee became the latest Republican lawmaker to promise to block funds for a new NFL stadium in St. Louis unless the funds are approved by popular vote or allocated by the legislature. Read more

Downtown KC adds eighth hotel to project pipeline

It looks like downtown Kansas City will get yet another new hotel. A partnership of real estate developers based in Madison, Wis., plans to spend $33.3 million to acquire and rehabilitate the historic Brookfield Building, a long-vacant and deteriorating office tower in Kansas City. Read more

Mizzou experiences record-breaking enrollment

On Monday, the University of Missouri-Columbia opened its doors to the start of the fall semester, and also to the largest student body and fourth-largest freshman class in the history of the university. Read more

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