By Lorie Hailey
The Lane Report
How about some good news?
USA Today is reporting that 2012’s gasoline price surge is over, falling short of the record highs some had feared heading into peak summer driving season.
Prices have held at a national average of $3.92 a gallon the past week, below 2011’s $3.99 high and July 2008’s record $4.11. READ THE FULL STORY HERE
Government revenue rose by 8.4 percent in Kentucky last month, the Associated Press reports. The growth is an encouraging sign of continued economic recovery, a top state official said Tuesday. That’s good news for a state where lawmakers recently passed a bare-bones budget calling for spending cuts across state government, the AP said. GET THE ENTIRE STORY HERE
Toyota announced this week the introduction of a new vehicle development system that will standardize major auto parts in an effort to cut costs. The system is intended to develop various models — in particular vehicles aimed at emerging countries — faster and more inexpensively. Nissan and Volkswagen are also taking similar steps. However, such systems can negatively affect auto parts makers and other related companies. READ MORE HERE
Small business owners’ confidence in the economic recovery dropped sharply in March, hitting the lowest levels since November, reports USA Today. Confidence fell 1.8 points to 92.5 on the monthly index published by the National Federation of Independent Business, the lobbying group said Tuesday. Nine of the 10 indicators the federation tracks dropped, with businesses showing less confidence about everything from credit conditions to hiring plans. GET THE DETAILS HERE
Transportation planners have chosen a preferred plan for replacing the bridge that carries Interstate 75 over the Ohio River, reports the Kentucky Enquirer. The new span will replace the aging Brent Spence Bridge, which carries traffic between Covington, Ky., and Cincinnati. The project is expected to cost $2.4 billion. READ THE FULL STORY HERE
Retail food prices in supermarkets across Kentucky were essentially flat during the first quarter of 2012 compared with the fourth quarter of 2011, according to data prepared by the Kentucky Farm Bureau Federation.
The Lexington Herald Leader reports that the price of the basket of 40 basic items fell 19 cents, or 0.2 percent, to $115.71 compared to the previous quarter. READ THE ENTIRE STORY HERE
Lenders are again dealing credit to risky clients, the New York Times reports. As financial institutions recover from the losses on loans made to troubled borrowers, some of the largest lenders to the less than creditworthy are trying to woo them back, while HSBC and JPMorgan Chase are among those tiptoeing again into subprime lending, the Times said. READ THE FULL STORY HERE