Fears of inflation and a spike in oil prices are causing institutional investment managers to become more risk-averse, according to a survey of institutional managers by Northern Trust Global Advisors. Get the full story »
Unilever, P&G fined for fixing prices on detergent
Consumer goods giants Unilever and Procter & Gamble were fined $456 million by EU regulators on Wednesday for fixing washing powder prices in eight EU countries. Get the full story »
Littelfuse raises 1Q guidance
A Littelfuse R&D facility at 2110 S. Oak Street, Champaign, Ill. (BusinessWire)
Littelfuse, Inc., said its fiscal first quarter earnings would be better than expected, thanks to solid sales across most of its market but primarily in the automotive sector.
The Chicago-based company, which reports on its first quarter May 5, said it expects quarterly earnings to be in the range of 96 cents to 98 cents per share, including a non-cash accounting charge of 12 cents a share. Get the full story »
McDonald’s scraps commercial in Philippines
U.S. fast-food chain McDonald’s Corp. said Wednesday it had scrapped a television commercial in the devoutly Catholic Philippines after facing a barrage of criticism from church leaders. Get the full story »
Orbitz says it will defend self against American suit
Orbitz Worldwide Inc. said Wednesday that it will vigorously defend itself against a lawsuit filed by American Airlines, which is in a dispute with the online travel company over commissions. Get the full story »
JPMorgan Chase 1Q earnings jump 67%
Customers use Chase Bank ATMs on March 17, 2011 in Chicago. (Scott Olson/Getty Images)
JPMorgan Chase & Co.’s first-quarter profit jumped 67 percent as it set aside less for potential loan losses and revenue fell less than expected.
The first big bank reporting results this quarter, JPMorgan has seen earnings surge in recent quarters, largely because improving asset quality has led it to set aside less to cover loan losses. It has said loans are growing, and in the fourth quarter saw revenue climb from year-earlier levels at operations tied to both Wall Street and Main Street. Get the full story »
Online TV revenue growing fast
As broadcasters and television networks try to figure out their Internet strategy, the limited TV content that actually is online is making quite a pretty penny. Get the full story »
SBA to hold Chicago forum on loans, new jobs act
Representatives of the Small Business Administration plan a free-one day forum in Chicago Friday to discuss opportunities for business owners and entrepreneurs as a result of the Small Business Jobs Act. Get the full story »
Schneider makes $30B bid for Tyco International
France’s Schneider Electric SA, which has its U.S. headquarters in Palatine, has made a preliminary bid for approximately $30 billion for Tyco International Ltd., according to people familiar with the matter, hoping to draw the Swiss-based conglomerate to the negotiating table. Get the full story »
The day ahead in business
Reports: Retail sales for March, 7:30 a.m.; Business inventories for February, 9 a.m.; Job openings and labor turnover for February, 9 a.m.; Fed Beige Book, 1 p.m.
Local earnings: Northern States Financial Corp.
Other major earnings: Charles Schwab Corp., JPMorgan Chase & Co., Kaufman & Broad
Revised plans presented at Tribune hearing
A hearing to determine the fate of the Tribune Co.’s proposed reorganization plan resumed Tuesday with attorneys for Tribune and attorneys for noteholders who have submitted a competing plan continuing to squabble over technical issues. The judge again signaled his desire for a conclusion to the Chapter 11 case, which has dragged on for more than two years. Get the full story »
U.S. likely to appeal WTO ruling on Boeing subsidies
The Obama administration is almost certain to appeal a World Trade Organization ruling that Boeing received illegal subsidies as a long-running spat moves into its next stage, lawyers and analysts said. Get the full story »
First Chicago Bank given until June to raise capital
First Chicago Bank & Trust, which has been operating under regulatory scrutiny for more than a year, is “significantly undercapitalized” and has until early June to raise enough money to be considered “adequately capitalized,” according to an April 7 agreement between the Federal Reserve and the $1.02 billion-asset institution. Get the full story »
