Missouri

SBA Probe: More than $200 Billion in Pandemic Loans Were Fraudulent

The inspector general for the U.S. Small Business Administration says the agency disbursed more than $200 billion in potentially fraudulent COVID-19 loans through various programs rushed into existence at the dawn of the 2020 pandemic. In a new report issued… more

American Century Will Acquire Venture Capital Firm 3×5 Partners

Kansas City-based American Century Investments announced it will acquire the impact venture capital team 3x5 Partners, leading the investment service into private markets. The transaction with 3x5 Partners is expected to be completed in Q3 this year, according to a… more

KC Rise Fund Brings Additional $34 Million in Venture Funding

KC Rise Fund has closed its third venture-capital fund, which will bring $34 million in new capital to fund technology startups in the Kansas City region. Like its two predecessor funds, KCRise Fund I and II, the latest installment aims… more

Fed Stress Test Show Biggest Banks Positioned to Withstand a Crisis

The Federal Reserve System has released results of its annual banking stress test for 2023, showing that 23 large banks assessed had sufficient capital to absorb more than $540 billion in losses and continue lending to households and businesses under… more

Tighter Bank Lending Expected Across 2023, Monetary Policy Report

The Federal Reserve’s semiannual Monetary Policy Report released this month claims the banking system remains resilient, however, concerns about liquidity positions, deposit outflows, and funding costs continue to plague the economy. In the report, the Fed noted the recent banking… more

Missouri, Kansas Beat U.S. Figures For Nurses on a Per-Capita Scale

The nationwide shortage of nurses continues almost unabated, but for Missouri and Kansas, new figures from the Census Department show the bistate region is in better shape than most other states. Data compiled by Becker’s Hospital Review for June ranked… more

Jackson County Public Health Relocates to Lee’s Summit

Jackson County Public Health (JCPH), formally Jackson County Health Department, has decided to relocate Independence to a building in Lee’s Summit. The department made the announcement Monday stating the new location will better suit the agency’s service.  This strategy stems… more

KU Cancer Center Receives $143 Million For State-Of-The-Art Facility

The University of Kansas and The University of Kansas Health System announced Tuesday the Sunderland Foundation will gift $100 million for the development of a new destination cancer center. The new facility will be located on the 39th and Rainbow… more

Bunge Enters Multi Billion Agri-Trading Merger With Viterra

Saint Louis food company Bunge Ltd. announced it has entered into a definitive agreement with Netherlands-based Viterra Ltd., in an effort to create an agribusiness powerhouse. The mega deal will create a global agribusiness company to compete in complex markets… more

New Refrigerated Warehouses Planned

Kansas City’s logistics scene has been red-hot for a long time, but there will soon be a chill in the air. No, not because things are slowing down; it’s coming from a new collaboration between Canadian Pacific Kansas City and… more