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Unionized workers at the Caterpillar Inc. manufacturing plant in London, Ont. have been locked out after negotiations failed between the company and the Canadian Auto Workers.

The CAW said Sunday it had not called a strike, despite earlier threatening one if Caterpillar’s Electro-Motive Canada unit implemented the terms of its latest offer, which included unilaterally implementing lower wage and benefit terms for about 450 workers. The hourly wage, $35, would be cut in half.

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The owner of the recently renamed Fontainebleau Apartments for Seniors in University City are trying to take it back to the future. Brentmoor Retirement Communities restored the complex’s original name this month, and it is renovating its older apartments and offering residents more economical rental plans.

“You’ll pay only for what you want,” said Denise Niemann, Fontainebleau’s executive director. “We came up with this concept in response to our seniors’ financial woes.”

Until this year, residents of the apartments at 1001 North Mc-Knight Road, known as Brentmoor Place before the switch, were required to buy a full independent living package that included some meals and activities fees. Monthly rental fees were at least $2,000.

Options still include transportation, housekeeping and parking, for those residents who drive. But the recession has had several residents worried that they wouldn’t be able to make their payments and might have to move, Niemann said.

The new a la carte pricing allows residents to skip the meals and other extras if they desire. Apartments at Fontainebleau now are available for as low as $1,390 a month.

When the Fontainebleau complex was built nearly 50 years ago, it was marketed as an upscale apartment building for everyone. But by the mid-1990s, nearly 90 percent of its residents were over age 70, and it was being advertised as a senior living complex for independent older people.

The property, acquired in 1996 by Brentmoor Retirement Communities, was renamed Brentmoor Place and converted to a seniors-only, limited-service retirement community business card.

By 2007, Brentmoor Place had become an all-inclusive, full-service community, providing meals, transportation and housekeeping for its residents.

Now, the a la carte pricing allows options while maintaining a social environment for residents, who are required to be at least 62 years old.

Niemann said Fontainebleau’s age gives it one distinctive advantage over many newer buildings. “This is a concrete building, so you hear almost no noise from other apartments,” she said. “It’s built like Fort Knox.”

She said that the apartment complex had been known over the years for its social programs and activities and that those would continue. “It’s brain-stimulating; it’s computer classes and trivia events, for example,” she said.

A group of men who live there organized the MOB group, short for Men of Brentmoor, several years ago. “They get out at least once a month and go to places like Crown Candy Kitchen and other St. Louis landmarks,” Niemann said.

A longtime MOB member, Mark Margolies, is a resident coordinator for group activities and helps other residents resolve any concerns. “It gives me something to do,” said Margolies, 75.

He said he has enjoyed living there. “I have no complaints,” he said. “I like the convenience of the apartments, the location and the staff.”

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The Federal Reserve is holding off on any new actions to help the economy because stronger growth is giving it time to gauge the impact of steps it’s already taken.

Fed policymakers made the announcement after a two-day meeting.

In a statement released Wednesday, the officials said the economy has strengthened and consumers have stepped up spending. But they said the economy continues to face significant downside risks, including strain in global financial markets _ a reference to the crisis in Europe.

The Fed left open the possibility of taking further steps later to try to boost the sluggish economy. But it gave no hint as to what those moves might be.

The vote was 9-1. Charles Evans, the president of the Chicago Federal Reserve Bank, dissented. The statement said he wanted to take stronger action.

After their September meeting, the policymakers said they would shuffle the Fed’s investment portfolio to try to further reduce long-term interest rates. And in their previous meeting in August, they had said they plan to keep short-term rates near zero until at least mid-2013, unless the economy improved.

The Fed repeated the mid-2013 target in its statement Wednesday, and also said it was continuing its program to rebalance its portfolio to try to lower long-term rates.

The Fed has kept its key short-term interest rate at a record low since December 2008. This is the rate that banks charge on overnight loans. It serves as the benchmark for millions of business and consumer loans.

Later today, the Fed will also release its economic forecasts and Chairman Ben Bernanke will hold a news conference.

The debt crisis in Europe could force the Fed to lower its economic projections. The Greek prime minister’s surprise move to call a referendum on the country’s latest rescue plan sparked fears that the debt deal could unravel, that Greece could default on its debt and that the crisis could infect the global financial system.

Even if Europe dodges a financial catastrophe, many economists think it’s headed for a recession that would affect the U.S. and global economies. The Fed expressed such concerns after its August meeting.

Still, the Fed remains deeply divided over what, if any, action to take next.

The actions taken in August and September were adopted on 7-3 votes, the most dissents in nearly 20 years.

Three regional bank presidents _ Richard Fisher of Dallas, Charles Plosser of Philadelphia and Narayana Kocherlakota of Minneapolis _ all voted no. They have expressed concerns that the Fed’s policies could lead to high inflation later.

On the other hand, Vice Chair Janet Yellen, Governor Daniel Tarullo, Evans and New York Fed President William Dudley have said the economy is at risk and might need more support.

Two officials pushed for bolder action at the September meeting, according to minutes. The members discussed more bond-buying. Some said it should remain an option.

A brighter outlook for the economy has given the Fed more room to wait. The economy grew at an annual rate of 2.5 percent in the July-September period _ the best quarterly performance in a year. That was largely because consumers increased their spending at triple the rate from the previous quarter.

The growth is strong enough to show that the economy isn’t about to slide into recession. Still, growth would have to be nearly twice as high _ consistently _ to make a major dent in the unemployment rate, which has been stuck at 9.1 percent for three straight months.

Most economists had predicted that the Fed would hold off on new action until its December meeting or early next year. The next step could be further clarity on its interest-rate policy.

Evans has proposed that the Fed set benchmarks for raising rates. For example, it could agree not to raise short-term rates until unemployment fell below 7 percent or the outlook for inflation exceeded 3 percent. The unemployment rate has hovered around 9 percent for more than two years, and the Fed’s inflation outlook is under 2 percent.

Yellen, who heads a Fed panel that is examining ways to improve the central bank’s communications, has cautioned that such benchmarks could confuse investors. She has suggested that the Fed could add further guidance when it provides its economic forecasts four times a year.

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Regions Bank has eliminated a new debit card fee it imposed on some checking accounts this month that was unpopular with customers.

In a statement Monday, the bank said it is eliminating a monthly $4 fee it introduced this month on some checking accounts when a Regions customer used a debit card in a non-ATM transaction.

Now, though, Regions Bank has reversed course, based on customer feedback about the fee. “We have heard from our customers and are responding to their feedback by eliminating the monthly fee for CheckCards,” John Owen, head of Consumer Services for Regions Bank, said in a statement. The bank declined to disclose the number of complaints it received, or whether customers closed their accounts based on the fee.

On Nov. 4, Regions Bank will reimburse customers who were charged the fee.

Birmingham-based Regions is among the largest banks in St. Louis, based on deposits. It has 70 branches in the St. Louis area.

Regions joins other banks in dropping debit card fees. The retail banking arm of JPMorgan Chase & Co., which tested a fee for some checking accounts earlier this year, including a $3 monthly fee for a debit card and $5 for online bill pay, will end that program in November. SunTrust Bank also announced on Monday that it is dropping its monthly $5 debit card fee that was set to take effect this week online pay day loans. Wells Fargo has also cancelled its plans to test a fee structure for debit cards in some states.  

Charlotte, N.C.-based Bank of America, the second largest bank in the U.S. and the second largest bank locally, has come under fire in recent weeks after it announced plans to introduce a $5 monthly fee on some checking accounts when a debit card is used. That fee is set to go into effect in early 2012.

Banks said they were imposing the fees based on new federal legislation that led to a lower cap on what a bank can charge for debit card transactions. As part of the 2010 Dodd-Frank financial reform bill, maximum “swipe fees” decreased from 44 cents to 24 cents, beginning in October.

Some local banks and credit unions welcomed the new debit card fee announcements by their competitors as an opportunity to attract new customers. One recent ad by First Community Credit Union, the biggest credit union in St. Louis, reads: “Why pay for your debit card?” The credit union does not impose monthly fees for checking accounts.

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NATO has announced it will end its air campaign over Libya next Monday, following the decision of the U.N. Security Council to lift the no-fly zone and end military action to protect civilians.

NATO Secretary General Anders Fogh Rasmussen said on Friday that the operation was “one of the most successful in NATO history,” one which was able to wind down quickly following the death of former Libyan leader, Moammar Gadhafi.

Monitoring air patrols are expected to continue until Monday to make sure there are no more threats to civilians.

NATO’s 26,000 sorties, including 9,600 strike missions, destroyed about 5,900 military targets since they started on March 31.

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The Abu Dhabi company building a branch of the Guggenheim museum in the Emirati capital said Sunday it has temporarily dropped plans to award a major construction contract, raising questions about the future of the high profile project.

The state-run Tourism Development and Investment Co. said it recalled the tender for concrete work on the Frank Gehry-designed museum because it is reviewing its strategy for handing out jobs to contractors. It didn’t say when it would again seek bids.

The Guggenheim is one of the showcase museums TDIC is building on Abu Dhabi’s Saadiyat Island, a planned cultural district overlooking the Persian Gulf. The island is also slated to contain a national museum, performing arts center and a branch of the Louvre.

A spokeswoman insisted Sunday that the Guggenheim project is still moving ahead, but didn’t provide details.

TDIC has previously said it would open the museum by 2013.

Some preliminary groundwork for the 450,000-square-foot museum has been completed. The construction contract now on hold would have involved major work on the museum’s base and other parts of the building.

TDIC has not released the value of that deal free credit score.

TDIC is one of several companies set up by Abu Dhabi to diversify the economy and drive development in the emirate, which borders Dubai to the south.

The money-losing company relies heavily on direct cash infusions from the oil-rich Abu Dhabi government, but it also has turned to banks to fund some of its operations.

TDIC executives traveled to Europe and Asia over the summer to meet with potential investors about the possibility of issuing new bonds, but then put off those fundraising plans.

The Guggenheim project has been a flashpoint for controversy.

In March, more than 130 international artists and writers promised to boycott the museum unless authorities do more to protect workers’ rights at the site. That followed an earlier report by Human Rights Watch that outlined alleged abuses against migrant workers on the project.

TDIC has said it is committed to protecting workers’ rights and has taken on board many of Human Rights Watch’s recommendations.

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The stock market’s worst quarter since the end of the financial crisis closed Friday on another down note.

Stocks fell broadly on fresh signs that Europe’s debt problems and the U guaranteed payday loan.S. economy continue to languish. Makers of raw materials, industrial companies and banks

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Target Corp. is benefiting from the economic downturn, while other retailers are getting battered by it.

The discounter, based in Minneapolis, on Wednesday posted second-quarter profit and revenue that beat Wall Street estimates in part because of a growing frugal trend among Americans who are concerned with job security and other economic woes. Target said that while cost-conscious customers in general are making fewer shopping trips to save money on gas, they’re increasingly coming into its stores for their one-stop shopping needs.

“We do believe that we are gaining some of the trip consolidation,” said Kathy Tesija, Target’s executive vice president of merchandising. “We think we’re benefiting across all income levels.”

Consumers have been changing their shopping habits during the economic downturn as they’re being squeezed by rising food costs, high unemployment and weak job and housing markets. Retailers have had to adapt by keeping inventory fresh, offering incentives and discounting.

Target said its results were buoyed by its push into the grocery business, which allows it to offer customers more food items. The retailer also said it benefited from the 5 percent discount program it launched in October for customers who pay with Target branded credit and debit cards.

Target said profit rose 3.7 percent to $704 million, or $1.03 per share, for the quarter that ended July 30. That compares with $679 million, or 92 cents per share, a year earlier. Revenue rose 4.6 percent to $16.24 billion. Analysts were expecting earnings of 97 cents per share on revenue of $15.9 billion.

Revenue rose 3.9 percent at stores opened at least a year __ a key indicator of a retailer’s health. Target said shoppers bought more clothing and home furnishings, as well as groceries and beauty products. Some shoppers also traded up to higher-end home brands like Fieldcrest.

Looking forward, Target said August sales growth is so far slightly slower than in June and July. But the company said school supplies have been selling well and the heart of the back-to-school selling season is still ahead.

The company forecasts third-quarter profit of 70 cents to 75 cents per share, while analysts expect 72 cents per share. For the full year, Target expects to earn $4 payday loan.15 per share to $4.30 per share, compared with the $4.14 per share analysts expect.

“Without a doubt, recent economic and financial market turmoil create additional uncertainty about what lies ahead,” said CEO Gregg Steinhafel, who expressed caution in speaking to investors during a conference call on Wednesday. “Our teams are vigilant and prepared to address unexpected challenges and opportunities as they arise.”

Target shares rose $1.31, nearly 3 percent, to $50.68. That’s at the mid-point of its 52-week range of $45.28 and $60.97.

Analysts say Target is winning customers from rival Wal-Mart Stores Inc., the world’s largest retailer. Target’s results come a day after Wal-Mart posted its ninth straight quarter of declines in revenue at U.S. Walmart stores open at least a year.

The Bentonville, Ark.-based company, however, reported a 5.7 percent increase in second-quarter profit and raised its outlook for the year, citing strong international sales growth and cost cutting. And al-Mart said it has seen a steady improvement in its U.S. business in the past three quarters.

During a pre-recorded call on Tuesday, Mike Duke, Wal-Mart’s chief executive officer, said his company’s shoppers are being pinched by the economy and “trading down to stretch their budgets.”

But some analysts say customers are trading to Target because they were turned off when Wal-Mart got rid of popular brands and items in an effort to clean up its stores. Moreover, recent surveys, including one from WSL Strategic Retail, show that customers no longer believe that Wal-Mart is the low-price leader.

Wal-Mart has been working to restock shelves with popular items again. It’s also returning to an everyday low-price strategy instead of discounting select merchandise on a temporary basis. But some analysts say it’s too little too late for some shoppers.

“Wal-Mart is getting its lunch eaten,” by Target, said Patty Edwards, a principal at Trutina Financial, an investment management firm. “Wal-Mart’s flip-flopping is confusing shoppers.”

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