DENVER
Gold jewelry demand a Newmont bonanza
Gold jewelry demand, which climbed 42 percent in the second quarter, has “never been stronger,” said David Harquail, vice president of merchant banking at Newmont Mining Corp.
Newmont’s refineries in Switzerland are booked for the next four months, and “can’t handle any more product,” Harquail said at a Denver mining conference Tuesday. Last month was a record for Newmont’s refineries in Australia and Switzerland.
COLORADO SPRINGS
Casino firm gets funding for 2 projects
Colorado Springs-based Century Casinos announced Tuesday that it has secured financing for casino projects in Central City and Edmonton, Alberta.
Century said Wells Fargo Gaming Capital has issued the company a letter of commitment on a $32.5 million loan and $2.5 million revolving line of credit for construction of the Tollgate Casino in Central City. Also, Canadian Western Bank has agreed to issue Century Resorts Alberta Inc., a subsidiary of Century Casinos, a $17.1 million loan for the development of Celebrations Casino and Hotel in Edmonton.
DENVER
Groundbreaking for soccer stadium today
Kroenke Sports Enterprises will break ground today on a soccer stadium in Commerce City. The stadium will be home to the Colorado Rapids soccer team and will feature 18,000 seats for games and up to 26,000 seats for concerts.
Scheduled to open in April 2007, the stadium will anchor the Prairie Gateway project, 600,000 square feet of retail stores, offices and hotels.
DENVER
Country network moving to Nashville
Great American Country, a cable television network, said Monday it would relocate its headquarters from Denver to Nashville.
The 24-hour country music network, part of the E.W. Scripps Co. – owners of the Rocky Mountain News – was acquired last November for $140 million from Centennial-based Jones Media Networks.
According to a Jones Media employee, Great American Country no longer has employees in Colorado, as some moved to Tennessee after the acquisition.
DENVER
Cancer outpatient center gains funding
Navitas Cancer Rehabilitation Centers of America Inc., a Denver network of outpatient rehabilitation services for cancer patients, on Tuesday announced the completion of an $8 million Series A round of venture capital funding.
The round was led by Psilos Group Partners, with additional capital contributed by Shoreline Venture Management. Navitas will use the funding to expand its Denver operation and open a second clinic in Salt Lake City.
DENVER
Storms cut Cimarex’s production in gulf
Denver-based Cimarex Energy Co. said Tuesday that approximately 125 million cubic feet per day of its natural-gas production remains off-line as a result of hurricane activity in the Gulf of Mexico and nearby coastal areas.
Production curtailments in anticipation of Hurricane Rita began Sept. 21. Off-line volumes reached a maximum of 145 million cubic feet over the weekend.
CLINTON, Okla.
Fed officials suggest more interest hikes
The dollar rose to a two-month high against the euro and yen after Federal Reserve Bank of Kansas City president Thomas Hoenig added to speculation the central bank will keep raising interest rates.
Hoenig, who spoke to the Oklahoma Economic Forum in Clinton, Okla., said late Monday that inflation is “high enough to get your attention.” His comments came hours after Chicago Fed president Michael Moskow said the economy is “strong,” and San Francisco Fed president Janet Yellen on Tuesday said the U.S. is “reasonably close to full employment.”
NEW YORK
Goldman Sachs sells bonds for new HQ
A much-awaited bond financing that will allow Goldman Sachs Group Inc. to construct a new headquarters building in New York’s Battery Park City launched Tuesday.
The sale of $1.3 billion in tax-exempt Liberty Bonds will allow the company to begin construction later this year of a 43-story, stainless steel and glass tower that is expected to provide Lower Manhattan with an economic shot in the arm.
LOS ANGELES
Negotiations to buy DreamWorks fail
NBC Universal, owner of the fifth-biggest Hollywood studio, ended talks to buy DreamWorks SKG after disagreements over the price and the autonomy of the film studio.
DreamWorks walked away from the deal Monday after NBC Universal sought to renegotiate the price, DreamWorks spokeswoman Terry Press said.
BURBANK, Calif.
Roy Disney buys Harlem Globetrotters
An investment company controlled by Roy E. Disney has purchased 80 percent of the Harlem Globetrotters and will help expand the basketball team’s merchandising and licensing activities worldwide.
