Missouri Minute: Missouri Supreme Court upholds St. Louis minimum wage hike; Trump’s defense spending push may start with the Boeing Super Hornet

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

Missouri Supreme Court upholds St. Louis minimum wage hike

St. Louis will be able to raise its minimum wage to $11 by 2018, after the Missouri Supreme Court ruled Tuesday that the city acted within its charter authority when it approved the hike. The decision reverses a circuit court judge who struck down the increase in 2015, just hours before it was set to take effect. Read more

Trump’s defense spending push may start with the Boeing Super Hornet

President Donald Trump’s push to increase defense spending is starting with a $30 billion amendment to this year’s budget that may boost funding for war supplies, readiness and depots, but also possibly for Boeing Co.’s Super Hornet jet, according to officials. Deputy Defense Secretary Robert Work is assessing what immediate personnel, readiness and maintenance priorities to fund in addition to procurement programs — perhaps including the fighter that Boeing makes in its St. Louis County plant. Read more

Barnes and Noble Education announces purchase of MBS Textbook Exchange

MBS Textbook Exchange, a Columbia-based textbook distribution company that is the city’s ninth-largest employer, was purchased by Barnes and Noble Education for $174.2 million, according to a news release Tuesday. Barnes and Noble College President Patrick Maloney said MBS will operate as an independent subsidiary of Barnes and Noble Education. Maloney said he doesn’t anticipate many changes in the company’s day-to-day operations. Read more

AMC to drop Carmike brand, add AMC Classic brand for smaller, less-visited theaters

AMC Entertainment plans to scrap the Carmike brand as it merges the nation’s No. 4 theater chain into its own, CEO Adam Aron said Tuesday. The Leawood, Kansas-based theater chain will operate with two U.S.-based brands, AMC and AMC Classic. Aron said the AMC Classic theaters will be those in smaller markets and “less-visited” complexes that have to operate on a tighter budget. Read more

Mike Middleton saw interim president job as calming UM’s troubled waters

Looking back over his time as the University of Missouri System’s interim president, Mike Middleton sees clear marks of progress toward his goal at the beginning of his term: creating a long-term plan to address issues of diversity on campus. Going forward, Middleton is worried about money. Years of state funding cuts and recent withholdings from former Gov. Jay Nixon and Gov. Eric Greitens have forced the UM System to find additional revenue, a responsibility that falls to Mun Choi beginning Wednesday. Read more

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