Business News

Emerging market currencies are in turmoil as worries continue about Fed easing and what that means to foreign debt. That has unsettled equity markets over the last two trading days as we have slipped about 3.2%. (Seeking Alpha)

Caterpillar posted strong profits as they cut costs to offset continued sluggish sales of its earth moving equipment.  Profits climbed 43% to $1 billion for the quarter on sales that were 10% lower.  The company has been hit hard by slowing in the mining industry. (Reuters)

Wal-Mart owned Sam’s Club stores will lay off 2% of its workforce or 2300 workers in the coming weeks.  Most of the cuts will be in the management ranks and hourly persons at underperforming stores. (Wall Street Journal)

Oregon based Reser’s Find Foods will return to NASCAR racing in 2014 for a second year.  The deal will have the Reser’s car on the track for 7 races with Joe Gibbs Racings, Matt Kenseth will be behind the wheel.  The company says the sponsorship expanded the recognition of their salads and other products. (Portland Business Journal)

Union membership was flat in 2013 at 11.3% of the workforce. Since 1983 union jobs have dropped from 17.7 million to 14.5 million workers.  The union membership rate is 6.7% in the private sector and 35.3% in the public sector. (Bureau of Labor Statistics)

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