LITTLE ROCK, Ark. (Arkansas Business) -- Wall Street down again on Thursday.
Signs that growth in U.S. labor market is still slow put the brakes on investors Thursday. The government also reported that more people applied for unemployment in the last week.
Wal-Mart shares show good results
Still, some better results for shares of Wal-Mart Stores Inc. of Bentonville. Its stock up $1.05 to $70.26 after the retailer reported fourth-quarter profit that beat analyst expectations.
Still, the company tempered expectations for the current quarter -- saying sales have gotten off to a slow start, in part due to a delay in tax refunds and a two percent spike in the nation's payroll tax.
In all, Wal-Mart posting fourth-quarter profit up more than eight percent to $5.6 billion.
Big River Steel incentive deal delivered to Capitol
Meanwhile, at the state Capitol, the Arkansas Economic Development Commission finally delivering to the House and Senate documents detailing its incentives deal with Big River Steel, an enterprise led by John Correnti, who wants to build a $1.1 billion steel mill in Osceola that would employ 525 people.
The project is up for $125 million in state incentives including millions in loans and grants under Amendment 82, which allows the state to help major employers cover start-up costs.
The Legislature now has until March 13, 20 days, to review the state's proposal for Big Steel and conduct a cost-benefit analysis.
The project would then enter the committee system and go up for approval by the House and Senate.
Legislators, meanwhile, are planning to hire an outside consultant to help it conduct an analysis of the project.