Blue Cross and Blue Shield of Illinois said Thursday that it will cut more than 90 jobs in its Chicago-based individual policy business as part of an ongoing companywide consolidation plan.
The company said 92 jobs at its Chicago facility would be affected by spring of 2011. However, the company said, 75 will be added to its Hallmark Services Corp. subsidiary in Naperville and another 11 will be added to a facility in Abilene, Texas. Get the full story »
A flood of early promotions and longer store hours have spurred a key retail group to raise its forecast for holiday sales.
ShopperTrak predicts sales for the November-December holiday period will increase 3.2 percent from last year, a bigger gain than the 2.9 percent the Chicago-based market research group initially anticipated. Foot traffic is forecast to rise 1 percent for the period, instead of the originally forecast 0.1 percent decline. Get the full story »
Comcast Corp. on Thursday named several executives who will hold top jobs at NBC Universal after the cable company takes control of the broadcaster and movie studio.
Former Showtime President Bob Greenblatt will be chairman of NBC Entertainment, responsible for prime time and late night programming, business affairs and NBC Universal Media studios. Get the full story »
(Bill Pugliano/Getty Images)
The Chevrolet Volt plug-in electric car, the centerpiece of a revitalized General Motors, was named 2011 Green Car of the Year on Thursday.
The highly anticipated Volt received the industry’s top environmental honor the same day GM shares began trading on the New York and Toronto stock exchanges.
The Volt edged out the Nissan Leaf, Ford’s Fiesta, the Hyundai Sonata Hybrid and the Lincoln MKZ Hybrid to win the award. Get the full story »
Senator Mitch McConnell at a news conference on Capitol Hill, Nov. 16, 2010. (Mark Wilson/Getty Images)
Prospects for a comprehensive bill to fund the U.S. government appeared to dim Thursday after Senate Republican leader Mitch McConnell said he would not support the measure.
McConnell’s statement could indicate waning Republican support for a bill that would fund everything from national parks to the military through September 2011.
That could force Democrats to fund government operations on a temporary basis, either for a few months or the rest of the fiscal year, an approach that makes it difficult for government agencies to launch new programs or close out old ones. Get the full story »
Former Obama car czar Steven Rattner has agreed to pay $6.2 million to settle federal charges over his role in a “pay-to-play” scandal, but says he won’t be “bullied” into accepting a harsher penalty from New York’s attorney general.
In this Sept. 20, 2010 photograph, people attend a job fair at a hotel in Boston. (AP Photo/Stephan Savoia)
New U.S. claims for jobless benefits barely rose last week and manufacturing activity in the country’s Mid-Atlantic region touched a near one-year high in November, more proof the economy was regaining momentum.
The improving economic picture also was enhanced by another report on Thursday showing a gauge of future activity increased 0.5 percent in October.
However, the data are not robust enough to deter the Federal Reserve from fully implementing its much criticized program to purchase $600 billion worth of government debt to push already low interest rates down to stimulate the economy. Get the full story »
Lawmakers pressed major banks and federal regulators on Thursday to explain how they allowed faulty paperwork problems to fester into a controversy that could slow home sales and raise costs for new borrowers. Get the full story »
Wal-Mart plans to open four stores in the District of Columbia, The Washington Post reported in its Thursday edition.
The retailer continues to move forward with plans to open smaller outlets in major metropolitan areas. In Chicago, Wal-Mart won approval for its second and third stores in Chicago in the middle of 2010. Get the full story »
From Golf Digest | A golf tournament sponsored by Northern Trust last year drew a scant 30,000 spectators all week (estimated) to the Riviera Country Club, possibly due to a $50 gate charge — $20 more than the year before.
CME Chairman Terry Duffy, left, shows off CME Group's trading floors, Nov. 10, 2008. (Chris Walker/Chicago Tribune)
The Chicago Mercantile Exchange will overhaul its east trading floor at the Chicago Board of Trade building as part of a renovation plan funded by a proposed $15 million in tax increment finance assistance.
Mayor Richard M. Daley proposed an ordinance for the CME’s TIF agreement on Wednesday. The city of Chicago had pledged the assistance to CME in October 2009.
In exchange, CME agreed to keep 1,750 full-time positions and add at least 683 local jobs during the next decade. City officials said CME needed the financial help to outbid Atlanta-based IntercontinentalExchange for the Chicago Board of Trade. If the other company had succeeded in acquiring CBOT, the headquarters and jobs would have moved to Atlanta, officials said. Get the full story »
The global economic recovery is losing steam in the face of a slowing U.S. rebound and tensions over currencies, and a debt crisis in Europe could trigger more weakness next year, the OECD said on Thursday. Get the full story »
Caterpillar Inc. said retail sales of its heavy machinery rose 48 percent in the three months ended Oct. 10, a slightly slower rate of growth than the 53 percent increase reported in the three months ended in September.
The world’s largest maker of heavy equipment said retail sales were up most sharply in Latin America, where they rose 59 percent. The U.S. company saw the slowest growth in Europe, Africa and the Middle East, where sales were up 40 percent.
Allstate Corp. has launched a pay-per-use roadside assistance program that doesn’t require annual fees.
The Northbrook-based insurer cited studies showing that the average driver uses roadside assistance services just once every three years. Allstate said its Good Hands Roadside program meets the needs of 35 million households in the U.S. without such services, as well as 52 million households that pay annual fees for roadside assistance. Get the full story »
