Morning Minutes: Arch Grants, Middleton speech, St. Louis Fed

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

Another 10 startups win $50,000 from Arch Grants

Arch Grants, a nonprofit group founded in 2012 to promote entrepreneurial growth in St. Louis, announced Tuesday its latest group of 10 winners. Each firm will receive $50,000, plus a wide range of support services, on one condition: At least half of the founding team must work in St. Louis for a year. Eight winners already have a presence in St. Louis, but founders are moving to the city from Chicago and New York because of Arch Grants. Read more

Middleton says MU can set national example by dealing with problems

Michael Middleton told the National Press Club in Washington, D.C., that the University of Missouri can be a national example as it struggles to deal with the problems exposed by last fall’s student protests. While describing last fall’s unrest as a “perfect storm” that extended beyond race, Middleton, interim president of the University of Missouri system, couched the protests and recoil as part of a lingering national story. Read more

Fed upbeat about St. Louis economy

The St. Louis regional economy is improving, and business leaders think things are looking up, according to a generally cheery report from the Federal Reserve Bank of St. Louis. The broader region gained jobs over the past year in every category except manufacturing and “information,” a group that includes news media, publishing and broadcasting. Read more

Heir apparent leaving Sprint’s parent company after investigation

Nikesh Arora, the heir apparent at Sprint’s parent company, SoftBank Group Corp., is stepping down from the Japanese company in a surprise departure. SoftBank founder Masayoshi Son made clear that Arora, a former Google executive, wouldn’t get the top executive role in the near future. Arora’s exit comes a day after SoftBank’s board of directors cleared him of criticisms by investors in SoftBank and Overland Park, Kan.-based Sprint. Read more

Trash companies blame driver shortage for service misses

Deffenbaugh Industries and Town & Country Disposal each cite a shortage of qualified drivers for widespread and continuing service misses in multiple communities in the Kansas City area stretching back to last fall. Each company also says it’s doing all it can to fill empty truck cabs. Read more

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