LITTLE ROCK, Ark. (Arkansas Business) -- Future cut-backs by the Fed send stocks down on Wednesday.
Members of the Federal Reserve said in its last meeting that cutting back on the $85 billion in bonds the government buys monthly could be a possibility in the future, perhaps even as soon as next month.
Federal Reserve Chairman Ben Bernanke told Capitol Hill that any talk about scaling back on stimulus programs was premature. The next meeting of the Reserve is scheduled for June 18.
West Memphis to receive grant to expand port
West Memphis getting a grant from the Transportation Department worth almost $11 million.
The money will go to expanding its port on the Mississippi River, specifically its rail lines.
The port currently handles 800 railcars a day. Officials say that after the expansion, West Memphis should be able to double that number.
Arkansas companies honored for global trade
Gov. Mike Beebe recognizes four companies in Arkansas for the 2013 Governor's Award for Excellence in Global Trade.
The annual event recognizes the state's top exporters in four categories -- agriculture, small manufacturer, medium manufacturer and large manufacturer.
Welspun, a Little Rock welded pipe manufacturer and a division of Welspun Corp. of India, won in the large manufacturer category; Alliance Rubber of Hot Springs won in the medium manufacturer category; Conway Machine was recognized in the small manufacturer category, and Tyson Foods of Springdale, one of the world's largest processors of chicken, beef and pork, was recognized in the agriculture category.
Winners are selected by the Arkansas District Export Council for distinguishing themselves as leaders in international trade.