Business Notebook, August 11

Published: August 11, 2012 

Lexington yogurt shop offers special treats at grand opening

A new frozen yogurt shop is holding its grand opening today through Friday in Lexington with special deals and giveaways. Menchie’s at 5580 Sunset Blvd. in Lexington features yogurt with live and active cultures made from the milk of “smiley” California cows, which have not been treated with artificial growth hormones. A variety of 100 rotating flavors – from cake batter to pomegranate tart – is available at a self-serve station with more than 70 rotating toppings, including fresh fruits, granolas, nuts, candies and hot fudge. Info: menchies.com or (803) 356-0643.

Company relocating to Horry County, bringing 55 new jobs

BauschLinnemann North America, a producer of surfaces and edge bandings for furniture makers, said Friday it will establish a new facility and its North American headquarters in Horry County. The more than $8 million investment is expected to generate 55 jobs, according to the S.C. Department of Commerce. The company recently acquired Horry County’s Coastal Paper, a former supplier, and the assets of Quebec’s CDM. It is consolidating operations in South Carolina. The new facility will give the company 75,000 square feet of new manufacturing and office space and is expected to be completed in the summer of 2013, the Commerce Department said. The campus has room to expand to 200,000 square feet. Hiring will begin next summer.

Corn estimates cut back as drought continues to take toll

A deepening drought in the nation’s farm states has cut further into this fall’s harvest, with farmers now expected to pull from their fields the lowest corn yield in more than a decade. But American farmers are still expected to produce their eighth-largest harvest ever, and while there’s sure to be a rise in prices at the grocery stores, there’s little risk of a failed harvest that would lead to shortages on the shelves. The U.S. Agriculture Department predicted the nation’s biggest harvest ever in the spring, when farmers planted 96.4 million acres of corn – the most since 1937. But it cut its estimate a month ago and again Friday, saying it now expects the nation to produce 10.8 billion bushels, the least since 2006.

Stock market ends slightly higher

The market had a wishy-washy Friday, capping an equally directionless week. Stocks inched down for most of the day. Then, with 45 minutes of trading left, the Dow Jones industrial average turned positive, ending up 42.76 points at 13,207.95. The S&P 500 rose 3.07 to 1,405.87. The Nasdaq composite rose 2.22 to 3,020.86. In a week with no major developments in Europe’s debt crisis, and no surprising reports on the U.S. economy, the market struggled to figure out which way to go. The three indexes rose incrementally on Monday and Tuesday and were mixed on Wednesday and Thursday. In a market that has grown used to triple-digit swings on the Dow, this week brought none – the first time since early May that that’s happened. It was a marked change from the same week a year ago. This week, the biggest move was a measly 51-point rise on Tuesday.

Kristy Eppley Rupon and The Associated Press contributed.

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