Find more about Weather in Escanaba, MI
Click for weather forecast

Welcome to Upper Peninsula Business Today

UP Business Today

We are a monthly magazine that keeps the U.P. business community informed on regional business activity and trends. For over 20 years, we have featured stories of local professionals who are thriving in the U.P. economy. As we continue to be your trusted source of business news, we bring new sections to highlight the people and events that make the U.P. unique including 4Hire, On the Network and The Loop.

Keeping you, our business to business partner, Intrigued, Interested and Informed.

Susan Lahti

Current issue

Current Issue

Click to view the current issue.

In This Issue

  • Michigan Tech's Semi-Annual Career Fair
  • Expansion Plans at the Island Resort and Casino
  • Recruitment Efforts in the Logging Industry
  • Chopper Testing at Sawyer
  • Med Flight open in Houghton/Hancock
  • State Officials May Consider Trade Zone Approval

Yahoo! Finance: Top Stories

Asian shares drift lower, India surprises with rate cut
Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.3 percent, while Japan's Nikkei stock average (.N225) ended down 0.6 percent as investors locked in gains from its recent rise to 15-year highs. Investors remained cautious ahead of U.S. nonfarm payrolls report for February, which could provide clues about the timing of the U.S. Federal Reserve's interest rate hike. "Whether this selling is short-term profit-taking or can lead to a solid correction depends on how the market perceives the U.S. jobs data," said Isao Kubo, equity strategist at Nissay Asset Management in Tokyo.

Pimco CIO Ivascyn says 'late decision-makers' behind withdrawals
Pimco's top investment officer said on Tuesday that "late decision makers" are largely behind a rush of withdrawals from its flagship bond fund some five months after the departure of longtime manager Bill Gross, but the outflows should taper off before long. Dan Ivascyn, group chief investment officer for Pimco, said in an interview that many institutional investors take months to decide on and execute a reallocation from one fund or firm to another. Ivasycn's comments came as the firm reported another $8.6 billion of outflows in February from the Pimco Total Return Fund, bringing withdrawals to $76.6 billion since Gross moved from Pimco to Janus Capital Group Inc. "Not surprised by the outflows," Ivascyn said by phone from the firm's Newport Beach, California, headquarters.

Target to cut thousands of jobs
The cost-cutting forms a key plank of a revival plan outlined by Chief Executive Officer Brian Cornell, who is seeking to narrow the retailer's focus to a handful of key product lines and bolstering its online business to rejuvenate sales. "Cutting complexity at headquarters will make us more competitive," he said.

Apple exploring settlement with electric car battery maker
Apple is exploring how to make an electric car and has been hiring engineers with deep expertise in automobile systems. Around June 2014 Apple began aggressively poaching A123 engineers tasked with leading some of the company's most critical projects, A123's lawsuit said. Representatives for Apple and A123 could not immediately be reached for comment. A123 filed the breach of contract lawsuit in February against Apple and five former A123 employees.

Brent holds above $60 after Saudi price increases
Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence in a recovery of demand, the OPEC kingpin raised the official selling prices (OSPs) for its oil deliveries to Asia and the United States on Tuesday. "This is a sign that prices have bottomed out because it means Saudi is confident in raising prices without being afraid of losing market share," said Tony Nunan, a risk manager at Mitsubishi Corp in Tokyo. In the past seven weeks, Brent crude (LCOc1) has risen from a six-year low to hold above $60 a barrel despite continued concern about a global oversupply.

DuPont rejects activist request to change how directors are elected
Peltz's Trian Fund Management LP has been publicly critical of the company's performance and requested DuPont use a tool called a universal proxy, which has played a key role in company shake-ups. The universal proxy allows shareholders to split their vote if they are not fully convinced of either party during a proxy battle. DuPont said a universal proxy could compromise access and accuracy and issuing the card to all 600,000 individual shareholders could be cumbersome. The universal card played a key role in billionaire activist investor William Ackman's loss to Target Corp (TGT.N) in 2009 and his successful shakeup of Canadian Pacific Railway Ltd's (CP.TO) board a few years later.

Toyota diversifies top executive ranks
Toyota Motor Corp said on Wednesday it will promote two foreigners to senior posts - one marking the first woman to hold an executive title - in a drive towards diversifying its management, long dominated ...

China February HSBC services PMI edges up
Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy. The PBOC had already cut interest rates in November and reduced the reserve requirement (RRR) - the ratio of cash that banks must set aside as reserves - earlier in February, the first such reduction in over two years.

Springleaf to buy Citi's OneMain to become top U.S. subprime lender
Citigroup has been seeking to hive off OneMain since at least 2011 as part of the No. 3 U.S. bank's plan to sell unwanted assets and focus on wealthier clients. The deal will create a lender with $15 billion in assets and nearly 2,000 branches, serving the large and growing population of non-prime customers in the United States. Springleaf shares soared 38 percent to a record $52.44 on Tuesday. Citigroup's shares were marginally higher at $53.73.

Asian shares drift lower, India surprises with rate cut
Markets in Asia wobbled on Wednesday as traders took a cautious stance ahead of a slew of U.S. data reports due later in the week.