Missouri Minute: Geico to announce 500 jobs at new KC office; Wells Fargo to restructure wealth management business

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

Buffett, Geico to announce 500 jobs at new KC office

Warren Buffett, the billionaire chairman of Berkshire Hathaway, is scheduled to be in the Kansas City area on Tuesday to announce the opening of a Geico insurance service center expected to create 500 jobs over the next five years. It will mark the largest job creation announcement by a company new to the Kansas City area in at least a year, according to Tim Cowden, president and CEO of the Kansas City Area Development Council. Read more

Wells Fargo to restructure wealth management business, report says

Wells Fargo is expected to restructure its wealth management business, the Wall Street Journal reports, citing people familiar with the matter. The bank plans to combine two units, known internally as its wealth brokerage services and private client group, according to the report. Wells Fargo Advisors, the bank’s brokerage and investment arm, is based in St. Louis. Read more

Parson appoints Senate Majority Leader Kehoe as lieutenant governor

By Megan Liz Smith

Gov. Mike Parson on Monday appointed Missouri Senate Majority Leader Mike Kehoe, R-Jefferson City, to be the state’s new lieutenant governor. Parson held the role of lieutenant governor under former Gov. Eric Greitens. The office has been vacant since Greitens resigned and Parson became governor on June 1. The appointment has raised legal uncertainty. Read more

Core & Main purchases maker of fire protection products

Core & Main, a St. Louis-based company that makes water, sewer and fire protection products, has acquired St. Louis Fabrication & Supply, a St. Louis-based producer of fire protection products. Terms of the deal were not announced, but Core & Main said it plans to retain all of St. Louis Fabrication & Supply’s employees. Read more

California cancer patient to face Monsanto in court

Lee Johnson, a 46-year-old cancer patient from Benicia, California, is first in line to go to trial against Monsanto, the Creve Coeur-based seed and chemical maker Johnson says is responsible for his cancer. Johnson, a groundskeeper at a school district in the town east of San Francisco, was diagnosed with cancer in 2014. He blames exposure to Monsanto’s Roundup herbicide for causing it. He’s not alone. Read more

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