Rendering courtesy of Pfizer
Here are today’s top business headlines from across Missouri:
After a competitive, multiyear process to identify a home for the project, pharmaceutical giant Pfizer Inc. broke ground Tuesday on a research campus in Chesterfield, where it will hone development of medicine and vaccines. The facility will both maintain and grow Pfizer’s local presence, retaining the company’s 450 current employees in the area while eventually creating 80 positions. The facility represents a $236 million investment. Read more
Sprint took on some shine Tuesday after news that it’s in talks with a pair of cable companies, an alternative from years of predictions that it was headed toward a job-robbing merger with rival T-Mobile US. A report Monday that said Sprint is in exclusive talks with cable giants Comcast and Charter Communications holds out some hope that Sprint has options aside from a merger with T-Mobile, widely seen as a move that would sap jobs from the Overland Park, Kansas, headquarters where 6,000 people work. The cable discussions are seen as an indication that Sprint negotiates from more of a position of strength than many thought previously. Read more
Later this summer, Bass Pro Shops will end its Standard Dealer Program, discontinuing the practice of selling products wholesale to small retailers across the nation. Some dealers say the move will likely be more of an annoyance than a business killer. Still, multiple dealers said Bass Pro’s decision to shutter a program it has run since the 1970s changes the way they view the retailer. Read more
In response to big breweries slurping up coveted niche craft brewers, the Brewers Association has announced a new seal of approval to help consumers distinguish small and financially independent craft brewers from their acquired rivals. The qualification of a small and independent craft brewer has not changed, but the seal is new. Read more
Lincoln University is regularly overlooked by federal officials and state lawmakers, facing budget cuts year after year and chopping faculty and programs as a result. For the 2017-2018 academic year, the university stands to lose $3.8 million in state and federal appropriations, according to Lincoln University figures. To meet the deficit, the university will terminate 48 staff and faculty positions by the end of June and cut all employee pay by 0.5 percent. Read more
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