Denver – Colorado’s unemployment rate rose one-tenth of a percentage point to 3.6 percent in May as a sluggish housing industry forced construction job losses, a state labor official said Tuesday.
Businesses eliminated 1,400 jobs in the construction industry last month, the Colorado Department of Labor and Employment reported. About 4,200 jobs have been lost since May 2006.
The May jobless rate compared with 3.5 percent in April and 4.5 percent in May 2006, according to the department’s monthly report.
The nation’s unemployment rate was steady at 4.5 percent in May.
Additional business news briefs:
DENVER
PR firm simplifies its name, adds 2 partners
Denver-based Linhart McClain Finlon Public Relations has changed its name to Linhart Public Relations and added two new partners.
Carri Clemens, chief financial officer, and Paul Raab, senior vice president, have joined founder and managing partner Sharon Linhart as partners in the newly renamed firm.
Cathey McClain Finlon, owner of McClain Finlon Advertising, has withdrawn as a minority partner.
DENVER
Daniels business dean quits to become prof
University of Denver Chancellor Robert Coombe announced Tuesday that Karen Newman, dean of the Daniels College of Business, has resigned effective June 30.
Newman will take a one-year leave of absence before joining the faculty as a full professor in the college’s Department of Management beginning in September 2008.
Marketing professor and former dean Bruce Hutton will serve as interim dean until a replacement is named.
DOUGLAS COUNTY
Earnings estimate for IHS up after report
IHS Inc., a provider of technical information used by companies in industries such as energy, defense and aerospace, raised its earnings estimates for the year Tuesday after it reported its second-quarter results.
IHS posted net income of $18.6 million, or 32 cents per share, up from $12.9 million, or 23 cents, a year ago. IHS had revenue of $154.9 million. IHS shares surged by more than 7 percent in after hours trading.
CORPUS CHRISTI, Texas
Feds nix Asarco move in Leadville mine case
Asarco LLC, a bankrupt mining company, can’t use bankruptcy and a joint-venture structure to absolve itself of the need to prevent a disaster at its Black Cloud mine in Leadville, the Justice Department said Tuesday.
The company claims it isn’t responsible for leaks from its lead and zinc mine, because it’s owned by a joint venture created in 1956.
ARAPAHOE COUNTY
Adam Aircraft seals new planes’ financing
Adam Aircraft, a manufacturer of advanced carbon composite aircraft at Centennial Airport, announced Tuesday that it finalized a $105 million round of financing including a senior secured credit facility placed by Morgan Stanley Senior Funding.
The company plans to use the capital to accelerate the production rate of the FAA-certified A500 piston twin aircraft and complete the certification of the A700 light jet.
BOULDER
Global Casinos to buy Doc Holliday outfit
Boulder-based Global Casinos Inc. announced Tuesday that it will acquire Doc Holliday Casino in Central City for $3.85 million. Global owns the Bull Durham Casino in Black Hawk.
PARIS
Airbus wins OK for on-board cellphones
European planemaker Airbus said Tuesday it had received approval from European aviation authorities for an onboard mobile-phone system.
Airbus said it was the first aircraft maker to win approval from the European Aviation Safety Agency for an on-board system for cellphones that use the European GSM technology.
WASHINGTON
Antitrust regulators clear Chrysler buy
Federal antitrust regulators have cleared Cerberus Capital Management’s $7.4 billion purchase of Chrysler.
Peter Duda, a Cerberus spokesman, said Tuesday that the Federal Trade Commission made its decision before the end of a standard 30-day review.
Early termination of an FTC review typically signifies there will be no conditions placed on the deal. The FTC declined to comment Tuesday.
IRVINE, Calif.
Gateway notebooks recalled for fire risk
Lithium-ion battery packs shipped with some Gateway Inc. notebook computers pose a fire danger, leading to a voluntary recall Tuesday by Gateway and the U.S. Consumer Product Safety Commission.
About 14,000 battery packs shipped as the primary or spare power sources for some Gateway 400VTX and 450ROG series notebooks and identified by part number 6500760 or 6500761 were recalled.
SAN BRUNO, Calif.
YouTube goes global with sites in 9 nations
Video-sharing website YouTube started nine local versions of the site in countries including Brazil, Japan and the U.K. to build its audience worldwide.
Local sites have also been introduced in France, Ireland, Italy, the Netherlands, Poland and Spain, and will each be fully translated, with local home pages and search functions, YouTube said Tuesday.
