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Wednesday A.M. Report

Macy’s turns in better-than-expected 2Q, Work to start on senior-housing project in Plymouth, and Dolan Company buys Federal News Service

Macy’s turns in better-than-expected 2Q: Macy’s Inc. reported a huge improvement in second-quarter 2010 earnings, thanks to better-than-expected sales, higher margins and tight inventory management, the company said. The Cincinnati-based parent of Macy’s and Bloomingdales earned $147 million, or 35 cents per share, compared to $7 million, or 2 cents per share, in the same quarter a year ago. Read full report

Work to start on senior-housing project in Plymouth: Life Care Services is moving forward with plans to build an $87 million senior housing development in Plymouth, a project delayed amid the recession. Des Moines-based Life Care Services (LCS) plans to start clearing trees and grading the land at the planned site of the development, a 46-care lot near the southwest corner of County Road 47 and Juneau Lane North, said Steve Nornes, senior project development manager at LCS. Read full story

Dolan Company buys Federal News Service: The Dolan Co. has acquired Federal News Service, the D.C.-based provider of transcripts of Washington events. Minneapolis-based Dolan appointed Rebecca Snyder to become vice president and general manager of Fed News. Snyder spent 12 years at Dolan’s Baltimore-based Daily Record Company. In the Twin Cities, Dolan publishes Finance & Commerce, Minnesota Lawyer, Politics in Minnesota and others. Read full story