Arkansas Business: Stocks make a recovery on Thursday

    8:10 AM, Feb 7, 2014   |    comments
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    LITTLE ROCK, Ark. (KTHV) -- The Dow turned in its best day of 2014 yesterday. The Dow and the S&P both closing up 1.2 percent, that was their best day since December.

    Thursday's surge began overseas, where the European Central Bank decided not to cut interest rates. That propelled major European stock indexes sharply higher.

    Then in the U.S., there was good news for the job market. The Labor Department reported that fewer people applied for unemployment benefits last week.

    That report, combined with an upbeat survey on hiring released Wednesday, bolstered investors' confidence that the government will issue a positive January jobs report today.

    That report on the monthly unemployment rate is due in just about 45 minutes.

    Gateway town center development

    New England Development Co. of Newton, Mass., is planning a 325,000-SF outlet mall called The Outlet at Little Rock.

    Developer Tommy Hodges told Arkansas Business that the company signed a $5.2 million deal Thursday morning to buy a 30-acre tract for the mall.

    The mall would include at least 65 stores and open in 2015.

    Hodges said work on utilities for the mall would begin quickly.

    Hodges also said a 20,000-SF Cavendar's Boot City store and a Malvern National Bank branch are also set for construction.

    All this, just a few weeks after the grand opening of Gateway's first tenant, the Bass Pro Shops.

    Fort Smith company opens clinic for employees

    Arkansas Best Corp. of Fort Smith is opening a primary care clinic to serve its employees and their dependent family members.

    The clinic has opened less than half a mile from the publicly traded trucking and logistic firm's headquarters in Fort Smith.

    IMWell Health, also of Fort Smith, will manage the clinic, which will offer yearly physicals and provide treatment for routine illnesses and chronic diseases.

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