CNN Money: Top business headlines for Feb. 7

    7:12 AM, Feb 7, 2014   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Friday, February 7.

    Southern Bancorp launches economic development
    Southern Bancorp this week unveiled its Riverside Renewal Project in Helena, part of a "trifecta of economic development tools" the rural development bank has launched to promote job growth and entrepreneurship in the Delta. The Riverside Renewal Project aims to accelerate revitalization of Helena's historic downtown by matching investments in eligible commercial and residentials properties up to $100,000. Rounding out the "trifecta" are the Helena Startup Challenge, a business-plan competition designed to lure entrepreneurs and which will announce winners soon, and the Helena Jobs Incentive, which provides perks of up to $100,000 per project to businesses that add new jobs within the Helena city limits, at the Helena Harbor or in the city's industrial park.

    LinkedIn shares sink on weak outlook
    Investors don't want to connect with LinkedIn. Shares of the professional networking site plunged 11% in after-hours trading Thursday after the company posted solid fourth-quarter earnings and sales but offered a disappointing outlook. LinkedIn (LNKD) said it expects sales to rise only slightly in the current quarter, to between $455 million and $460 million. Analysts surveyed by Thomson Reuters had expected sales of $470 million this quarter. The rest of 2014 won't be too much stronger, with LinkedIn predicting total sales of between $2.02 billion and $2.05 billion for 2014. That's far below analysts' forecast of $2.2 billion.

    Why Americans love prepaid cards
    The prepaid card business is booming for one big reason: People want to gain more control over their spending. The cards aren't attached to bank accounts, and you can load and withdraw as much money as you want onto them from ATMs and make payments anywhere that debit or credit cards are accepted. And since you can only spend the amount that you've placed on the card, there's no risk of overdrawing your account and getting hit with overdraft fees. They've become so popular in recent years that celebrities, big banks, drugstores, tech companies and even organizations like Occupy Wall Street have rolled out their own versions.

    Millennials invest like their grandparents
    Contrary to conventional wisdom, millennials are actually a pretty conservative bunch -- at least when it comes to investing. A study this week from UBS revealed that millennials, typically defined as those between the ages of 21 and 36, can't stomach much market risk. The reason: the Great Recession really spooked them. Not only were millennials scarred from their own personal experiences related to the job market, but they saw their parents' retirement savings and home values plunge, said Emily Pachuta, one of the architects of the study. "This had a significant impact on their mindsets," UBS said in its report.



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