Morning Minutes: Missouri Reps split on federal budget, Fed considers rate increase

Photos courtesy of (clockwise from top left) House of Representatives, HOK Sports, and the Federal Reserve Bank
Photos courtesy of (clockwise from top left) House of Representatives, HOK Sports, and the Federal Reserve Bank

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

Missouri delegation split as House approves two-year budget deal

Missouri’s delegation was divided as the House of Representatives approved a two-year federal budget agreement on Wednesday designed to prevent a federal government shutdown. Read more

New bill proposes giving team two-thirds of St. Louis stadium tax revenue

The office of St. Louis Mayor Francis Slay has committed about two-thirds of the city taxes that would be generated by a proposed riverfront football stadium in St. Louis to the team that would play there. That provision is part of a new bill the mayor’s office and Gov. Jay Nixon’s stadium task force sent to St. Louis aldermen on Wednesday, the latest move in an effort to keep the Rams in St. Louis. Read more

Fed considers December rate rise, sees ‘moderate’ expansion

Federal Reserve policy makers said they will consider tightening policy at their next meeting in December, without making a commitment to act this year, as the economy continues to expand at a “moderate” pace. Read more

Lawsuit dismissed because Missouri’s discrimination definition doesn’t include sexual orientation

A Kansas City-area man cannot sue his former employer for discrimination because Missouri’s legal definition of discrimination does not include sexual orientation, says the state’s western district appeals court. Read more

After a drop in profits, UMB’s cost cutting includes layoffs

UMB Financial Corp. reported a profit of $22.5 million for the quarter ended Sept. 30, down 37 percent from the same quarter last year in part due to continuing problems at its Scout Investments subsidiary and expenses related to its $182 million acquisition of Marquette Financial Cos. Read more

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