LITTLE ROCK, Ark. (Arkansas Business) -- Stocks soared on Thursday after Republican leaders and President Barack Obama finally seemed willing to end a 10-day budget standoff that has threatened to leave the U.S. unable to pay its bills.
Republican leaders said Thursday that they would vote to extend the government's borrowing authority.
A spokesman for Obama said the president would "likely" sign a bill to increase the nation's ability to borrow money so it can continue paying its bills.
Thursday's stock surge breaking a three-week slowdown in the market. Stocks have steadily declined since mid-September as Washington's gridlock worried investors.
Thursday's gains were broad. Of the 500 stocks in the S&P 500 index, only 13 fell. Banks and industrial stocks rose the most.
Conway to redevelop site of city's old airport
Conway leaders announcing yesterday a new commercial real estate development they say is the, quote, "largest project in the city's history."
The Conway Development Corporation and Jim Wilson Associates of Montgomery, Ala., announcing plans to redevelop the 150-acre site of the city's old airport for restaurants, retail and hotels.
The project, called Central Landing, is set for completion by 2017.
Conway expects the new 750,000-square-foot shopping center and multifamily development to create an additional $2 billion in retail sales and $34 million in additional sales tax collections for the city over a 10-year period.
The plan comes as Conway winds down operations at the airport and builds a new $30 million airport in the Lollie Bottoms area in the southwest corner of the city.
The new airport is set to open in August.
Little Rock Catholic gets $10 million donation
Little Rock's Catholic High School for Boys announced a $10 million donation from a group that includes Dallas Cowboys owner Jerry Jones, San Francisco 49ers chairman John York and an anonymous school alumnus.
Jones, who was born in Los Angeles but grew up in North Little Rock, is a past contributor to Catholic High and sent his two sons to the school.
York is a 1967 graduate.
The money is going to the school's current fundraising campaign for renovations.
Both Jones and York have given money to the school before. A previous gift from York helped the school build its math and science building.