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Metropolitan adds group to help developers move to permanent loans

By TED CARTER Ridgeland’s 9-year-old Metropolitan Bank is adding to its niche specialty in commercial lending with creation of a division designed to help developers transition from short-term to long-term loans. Metropolitan Capital Advisors, the bank’s new business advisory group, provides a new tier of specialized advisory services to both bank and non-bank clients involved in construction and development projects, said ...

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Markets Right Now: Stocks close flat

Stocks are ending nearly flat on Wall Street as the market continues the small moves it’s made in the last few weeks. The Dow Jones industrial average dipped 3 points to 18,352. The Standard & Poor’s 500 index was nearly unchanged at 2,164. The Nasdaq composite rose 7 points, or 0.1 percent, to 5,166. Container makers were some of the ...

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Global stocks drift lower ahead of run of US economic data

Global stock markets drifted lower Wednesday as traders awaited a run of key U.S. economic data and an expected interest rate cut from the Bank of England. KEEPING SCORE: In Europe, France’s CAC 40 dipped 0.7 percent to 4,299, while Germany’s DAX shed 0.2 percent to 10,127. Britain’s FTSE 100 edged down 0.3 percent to 6,628. U.S. shares were set to drift ...

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Entergy 2Q profit tops Street, lifts 2016 profit outlook

Entergy’s second-quarter profit easily topped Wall Street’s view, and the power company raised its full-year earnings forecast. Entergy’s net income attributable to the company was $567.3 million, or $3.16 per share, for the period ended June 30. A year earlier net income attributable to the company was $148.8 million, or 83 cents per share. Earnings, adjusted for one-time gains, were ...

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ANOTHER RECORD: US stocks led by gains in technology

Stocks are closing higher on Wall Street, led by gains in technology companies after Microsoft reported surprisingly strong results. The gains Wednesday extended a winning streak for the Dow Jones industrial average and kept the market at record-high levels. Microsoft jumped 5 percent after the company reported big gains in its cloud computing services. That helped send other technology stocks ...

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Kemper plant succeeds in producing gas from lignite

By JACK WEATHERLY Mississippi Power has started producing synthetic gas using lignite at the Kemper County energy facility, the long-overdue and cost-overrun plagued project. “This is a major achievement for the Kemper project, and I am very proud of everyone who has worked safely and tirelessly to overcome challenges and reach this important point,” Mississippi Power President and Chief Executive Anthony ...

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BILL CRAWFORD: Republicans struggle to find smart way to budget

Starving the beast” is a popular conservative approach to governance. “If they (legislators) don’t have the money, they can’t spend it,” one Republican operative explained, strongly endorsing this approach.    True enough, but as another longtime Mississippi leader told me, “‘Starve the beast’ is not a smart way to govern, in fact, it isn’t governing at all.”   Also true. ...

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State’s raids on rainy-day fund raise red flag, Moody’s warns

State Treasurer Fitch calls report to investors ‘a shot across the bow’ for legislative leaders    By TED CARTER Gov. Phil Bryant’s three draws from Mississippi’s reserve fund have left the fund at its lowest level in 13 years and led Moody’s Investor Services to warn investors the state’s fiscal position is weakening. Moody’s July 11 report characterized the drawdowns ...

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Dow Jones industrial average closes at a record high

The stock market reached another milestone Tuesday as the Dow Jones industrial average closed at a record high. A day earlier, the broader Standard & Poor’s 500, a widely used benchmark for index funds, also reached a record-high close. Both indexes beat peaks set in May 2015. The Dow, which is made up of just 30 stocks, is an older ...

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BILL CRAWFORD: 2016 puts Reeves’ fiscal credibility at risk

Lieutenant Gov. Tate Reeves has put his fiscal credibility on the line.    The former investment banker told voters in 2011 he was “a true, proven fiscal conservative with a record of executive leadership who will take the difficult stance necessary to ensure our state makes the right financial decisions.”    Reeves appeared to make the right financial decisions during his ...

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