Economy

Economy

Groundbreakings on new homes surge 9.7 percent in January

WASHINGTON — Groundbreakings on new homes jumped 9.7 percent last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale.

Puerto Rico seeks loan, warns of power company shutdown

SAN JUAN, Puerto Rico (AP) — A federal control board urgently sought a $300 million loan for Puerto Rico's power company on Friday after a judge rejected a previous $1 billion loan request despite warnings the U.S. territory would have to start rationing electricity.

Coca-Cola sales plunge as drink maker sheds bottling business

ATLANTA (AP) — Coca-Cola swung to a fourth-quarter loss after being hit with a $3.6 billion tax charged tied to a sweeping overhaul of the nation's tax laws.

Revenues also plunged as the world's largest drink maker sells off its bottling operations.

Industry analysts have anticipated both as the company reshapes operations, and shares headed higher in early trading Friday.

Home construction jumps 9.7% in January

WASHINGTON (AP) — Groundbreakings on new homes jumped 9.7 percent last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale.

For builders, demand and economy are up

NEW YORK (AP) — The outlook from U.S. builders is being buoyed by a strong job market and a sizzling hot economy.

The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday read 72 for the second consecutive month. That's still just 2 points shy of December's reading, which was an 18-year high for optimism among the nation's builders.

Factory output flat for second straight month

WASHINGTON (AP) — U.S. factory output was unchanged in January for the second straight month after three months of healthy gains.

The Federal Reserve said Thursday that production fell in wood products, aircraft and a category including concrete and glass. Yet factories also cranked out more cars and computers.

Energy drives wholesale prices up 0.4% in January

WASHINGTON (AP) — U.S. wholesale prices rose 0.4 percent in January, the biggest increase since November, as a big jump in energy prices offset a small decline in the cost of food.

State wrestling meet brings late-arriving — but large — crowd to C-U

CHAMPAIGN — Crews at State Farm Center worked up a sweat Wednesday preparing the home of Illini basketball for the IHSA state wrestling meet.

More than a dozen workers made sure six mats were in place ahead of today's opening rounds. By Sunday, it will be back to basketball.

Economic Development Corp.'s director exiting at June's end

CHAMPAIGN — After nearly 30 years in economic development, Craig Rost is stepping down at the end of June from his post as executive director of the Champaign County Economic Development Corp.

Though he wouldn't call it retiring.

Entertainment listings, Feb. 15-22, 2018

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This weekend

RED HERRING GOLDEN (50TH) BIRTHDAY PARTY