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Sweet tooth: American Sugar Refining has broken ground on the first phase of a $785 million modernization project at its Domino Sugar refinery in Chalmette, marking the company’s largest capital investment to date. The initial phase includes a $200 million investment focused on upgraded refining technology aimed at improving reliability and reducing energy and water use. The project will retain 500 jobs, create 15 direct new positions and support an estimated 37 indirect jobs across southeast Louisiana. Read the full announcement.
Pain at the pump: Louisiana gas prices are nearing the $4-per-gallon mark as geopolitical tensions, refinery maintenance and the seasonal shift to more expensive summer-blend fuel tighten supplies across the Gulf Coast. The statewide average climbed to $3.92 this week, with cities like Hammond and Alexandria seeing jumps of more than 20 cents per gallon. Analysts say prices remain highly volatile as Middle East tensions and refinery outages continue affecting fuel markets. Read more from The Center Square.
Hiring beats expectations: Private-sector hiring topped expectations in April, with employers adding 109,000 jobs, according to new ADP data. Education and health services led gains, followed by trade, transportation and construction. Economists say the report points to a stable but cautious labor market, with companies slowing hiring rather than cutting jobs. The stronger-than-expected data could also reduce pressure on the Federal Reserve to lower interest rates in the near term. Read more from CNBC.
