Morning Minutes: Tobacco tax, labor target, Nixon trip

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

Monday deadline looms for tobacco-tax backers to appeal devastating court ruling

Backers of a ballot proposal to increase Missouri’s tobacco tax apparently have only until 4 p.m. Monday to seek a rehearing or an appeal of a court ruling that otherwise could keep the measure off the November ballot. Read more

National labor leader says Missouri has nation’s marquee contest for governor

Regardless of whether Missouri becomes a battleground in the presidential contest, national labor leaders see the state as one of their top priorities this fall. Richard Trumka, national president of the AFL-CIO said Missouri is among six targeted states for the labor movement, but the only one with a contest for governor.  The other states — Pennsylvania, Ohio, Wisconsin, Nevada and Florida — have key Senate races. Read more

Nixon won’t lead trade trip to Europe, citing Ballwin officer shooting

Gov. Jay Nixon responded Sunday to the bloodshed that has shaken the nation and state by canceling his participation in a trade mission to Europe. The governor was scheduled to depart Tuesday for the United Kingdom, Ireland and Switzerland. The announcement follows the shooting of police officer Michael Flamion, critically wounded by a motorist during a traffic stop Friday morning in Ballwin. Read more

Three bidders said to be interested in Emerson unit

Emerson’s alternator unit Leroy-Somer is expected to attract firm offers from two Chinese companies as well as one buyout group in a potential $1.1 billion deal, people familiar with the matter said. Read more

Your 401(k) fees are attracting more attention — from lawyers

Here’s a term you really don’t want used to describe your 401(k): “One of the most expensive plans in America.” That’s what a law firm calls a $1.3 billion retirement plan at the center of a proposed class action suit. The case, and several like it in the past year, may be harbingers of a new cycle of 401(k)-gone-bad litigation, this time targeting ever-smaller retirement plans. Read more

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