Business news

MEMPHIS, Tenn. (AP) — First Tennessee Bank has agreed to pay the U.S. government $212.5 million after admitting to making bad mortgage loans that left taxpayers footing the bill.

According to the U.S. Justice Department, between January 2006 and October 2008, the Memphis-based bank repeatedly approved Federal Housing Administration loans for ineligible borrowers through its subsidiary First Horizon Home Loans Corp.

Amazon hiring again in Murfreesboro

May 27, 2015

MURFREESBORO, Tenn. (WMOT)  --  The Amazon fulfillment center in Murfreesboro is hiring again.

A release from the company says it’s hiring more order picker-packers to meet rising customer demand.

Amazon says new employees will be immediately available for health insurance, retirement savings, bonuses, and company stock awards.

The online retailer also says it's offering fulltime employees college tuition assistance, even for degrees unrelated to positions at the company.

Amazon says it hopes to add 6,000 workers nationwide in the coming weeks.


CHATTANOOGA, Tenn. (AP) — A new study projects Volkswagen's expansion in Chattanooga could lead to the creation of nearly 10,000 jobs.

The report conducted by the University of Tennessee's Center for Business and Economic Research released Wednesday estimates the factory could add $370 million in new annual income once the expanded production is underway.

The report was commissioned by Volkswagen, which is spending $704 million to grow the plant to make a new sports utility vehicle and to open its new North American Engineering and Planning Center.

Three young women with unconventional career paths now have a little more money with which to pursue their educational goals.

The June S. Anderson Foundation granted full-tuition scholarships to MTSU students Lori Grimes, Latesha Fitzgerald and Amanda Adams, all rising seniors, at a May 13 luncheon at B. McNeel’s Restaurant, 215 N. Church St. in Murfreesboro.

Grimes, a Shelbyville, Tennessee, resident, who is majoring in organizational communication, was living in California when pregnancy interrupted her attendance at the University of California at Los Angeles.

NASHVILLE, Tenn. (AP/WMOT) — Tennessee has a dropped a spot in Chief Executive magazine's annual rating of the best and worst states for business, citing political interference with unionization efforts at the Volkswagen plant in Chattanooga.

Under the heading “Development Trend Indicator: Downward” the magazine notes "State politicians shouldn't have messed in Volkswagen's unionization business."

The state's ranking dropped from third to fourth.