The Peabody Energy building in downtown St. Louis. | Nicole Lunger/Missouri Business Alert
Here are today’s top business headlines from across Missouri:
Peabody Energy Corp., the world’s largest private sector coal producer, said Thursday that it expected to exit its Chapter 11 bankruptcy in early April after a U.S. judge said he would approve its plan to slash more than $5 billion of debt. St. Louis-based Peabody will leave bankruptcy amid dramatically improved short-term prospects for its business compared with a year ago, when it sought Chapter 11 protection. Read more
Missouri lawmakers wrapped up several items before heading home from Jefferson City Thursday for the legislature’s annual mid-session break. Republicans have rolled out right-to-work legislation, which quickly moved through both chambers before Gov. Eric Greitens quickly signed into law. Republicans also pushed through a number of contentious bills seeking to address economic development in the Show-Me State, focusing on reforming labor, regulations and torts. Read more
The St. Louis County Port Authority has more than doubled the amount of money its startup investment arm can invest in young companies, but it’s not clear yet whether the port authority will seed the Helix Fund with more capital so it can invest beyond a few more deals. The board of the port authority approved a measure allowing the Helix Fund to invest as much as $250,000 in individual companies, up from $100,000. The measure also broadened the scope of tech companies eligible for Helix Fund investment to include information technology and other tech businesses. Read more
A nine-month standoff between Schnuck Markets and the Teamsters could be coming to an end in a few days. Schnucks said Thursday that it had reached a tentative agreement with Local 688 covering 102 workers at the grocer’s Bridgeton warehouse. Read more
States with rapidly aging populations, like Missouri, are seeing increased costs to Medicaid programs that cover low-income residents. Read more
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