Wednesday P.M. Report

Fed’s Beige Book reports modest economic growth in 9th District: The Upper Midwestern economy grew modestly from mid-July through the end of August, according to the most recent Beige Book summary of commentary on current economic conditions published eight times per year by the Federal Reserve. The Fed’s Ninth District, which covers Minnesota, Montana, North Dakota, South Dakota and parts of Wisconsin and Michigan, saw increased consumer spending, tourism, residential construction, services, manufacturing, energy, mining and agriculture. Activity in the commercial and residential real estate sectors decreased. Read full story

General Mills on track to meet earnings targets: General Mills said today it would meet sales and earnings targets for the fiscal year ending in May. The Golden Valley-based food manufacturer, reaffirmed earnings guidance of $2.46 to $2.48 per share for the year. “While economic activity and consumer confidence remain relatively weak, our food businesses around the world are resilient and poised to deliver continuing high-quality sales and earnings growth in 2011 and beyond,” Chairman and CEO Ken Powell said in a statement. Read full story

Midway Chamber of Commerce names Canfield president: The Midway Chamber of Commerce today named Kari Canfield its president. Canfield was most recently director of marketing and communications for Maplewood-based Junior Achievement of the Upper Midwest. She succeeds Lori Fritts, the chamber’s president for nearly eight years. Read full story

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