Business digest: Apple may unveil new iPhones next week

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Posted: Wednesday, September 4, 2013 12:00 am

Apple Inc. said it will hold a Sept. 10 event, where the world's largest technology company is expected to announce new iPhones. The event will be held at Apple's headquarters in Cupertino, Calif., at 10 a.m. PDT, the company said Tuesday.

The merger of two Nebraska banks will create a new banking entity: Heartland Bank. The merger of Geneva State Bank and State Bank of Riverdale will create a bank with more than $350 million in total assets. The merger is expected to be completed before year's end, pending regulatory approval. Geneva has operations in Fairmont, Geneva, Grafton, Hastings, Kearney and Shickley. Riverdale has operations in Kearney, Ord and Riverdale.

Spending on U.S. construction projects rose in July, led by strong gains in housing and nonresidential projects. The Commerce Department said Tuesday that construction spending increased 0.6 percent in July compared with June when activity was unchanged. Total construction activity rose to a seasonally adjusted annual rate of $900.8 billion in July, the strongest performance since June 2009.

U.S. factories expanded last month at the fastest pace since June 2011 on a jump in orders. The report signals that manufacturing output could strengthen in coming months. The Institute for Supply Management, a trade group of purchasing managers, said Tuesday that its manufacturing index rose to 55.7 in August from 55.4 in July. That topped the index's 12-month average of 52. A reading above 50 indicates growth. A gauge of new orders rose nearly five points to 63.2, the highest level in more than two years. At the same time, production increased more slowly than in July, and factories added jobs at a weaker rate.

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