DETROIT - The Southeast Michigan economy continued modest growth during February, according to the Southeast Michigan Purchasing Managers Index. The February index value was 51.7, a small decline from the January index of 55.3. Southeast Michigan PMI values have ranged between 50 and 55 for seven consecutive months. A PMI value above 50 generally suggests
DETROIT ? Stik, a social media company that moved to Detroit from San Francisco four months ago, announced Monday it has closed a $2.3 million Series A financing round co-led by North Coast Technology Ventures and Detroit Venture Partners. Draper Associates, First Step Fund, the Michigan Economic Development Corp. and Automation Alley also participated in
LANSING - A proposal to raise $1.2 billion in revenue for roads whose key pieces are raising the gasoline tax, ending the sales tax on fuel and increasing the sales tax from 6 to 7 percent has the momentum, for now, in the Legislature. Those involved in the discussions said no deal has been struck.
LANSING - Bills overhauling Blue Cross Blue Shield of Michigan were passed Thursday by the House without language regarding abortion insurance coverage. The vote was 92-18 for both SB 61 and SB 62, which will now head to the Senate for a concurrence vote. The bills would turn Blue Cross into a nonprofit mutual company,
SAN FRANCISCO ? A new study says that state-sponsored overseas hackers are stealing as much as one terabyte of data per day from governments, businesses, militaries, and academic facilities, using a network of 500 computer servers. According to a lengthy article by The Verge, Team Cymru concludes that the hackers are so sophisticated and are
LANSING - After a positive January, 80 percent of Michigan retailers expect to increase sales this year, the most by mid-single digits, the Michigan Retail Index said on Wednesday. Thirty-eight percent of those polled said they expect to increase sales by more than 5 percent this year, 45 percent put sales growth at 5 percent
LANSING - The Michigan Strategic Fund on Wednesday approved $6 million for the Michigan Translational Research and Commercialization Program, as well as Michigan Business Development and Community Revitalization program incentives to eight companies expanding in the state. The expansions, funded by the 21st Century Jobs Fund to create high-tech jobs through commercialization of university research
DETROIT - Comerica Bank's Michigan Economic Activity Index saw a bounce back in December, rising 1.7 points to a level of 102.7. The December index reading is 43 points, or 71 percent, above the index cyclical low of 59.9. The index averaged 103 for all of 2012, 12 points above the index average for full-year
RESTON, VA ? 2012 was a milestone year for the U.S. smartphone market as it finally surpassed 50 percent market penetration and now enters the ?late majority? stage of the technology adoption curve, said comScore in a report called 2013 Mobile Future In Focus. The report examines the U.S. mobile and connected device landscape in
GRAND RAPIDS ? Keith Brophy, for the 12th straight year, offered up his vision of the tech future with 10 predictions that include a future where robots will play professional sports. Brophy, a long-time West Michigan serial entrepreneur, now CEO of Grand Rapids-based Ideomed, spoke to a packed house at the Eve Restaurant at the