Slower-paced economic growth is in store for nine U.S. Midwest and South-Central states, according to a survey of supply managers on Monday.
Creighton University’s Business Conditions Index fell to 52.3 in October from 56.3 in September. A reading of 50 is considered growth neutral, while a reading above that signals expansion over the next three to six months. Get the full story »
CNA Financial Corp. has offered to purchase the stock of CNA Surety Corp. that it doesn’t own.
CNA Surety, which provides surety and fidelity bonds, said its board of directors has formed a special committee to consider the proposal. CNA Financial is offering $22 for each share. Get the full story »
Apple Inc. sued Motorola Inc., alleging that the company’s smartphone lineup and the operating software it uses infringe on the iPhone-maker’s intellectual property.
The two lawsuits came after Motorola sued Apple in October for patent infringement and were the latest skirmish in a long-running series of disputes in the fiercely competitive smartphone industry. Get the full story »
U.S. construction spending rose unexpectedly in September as investment in public projects touched the highest level in more than a year, a government report showed on Monday. Get the full story »
Federal Signal Corp. said Monday that Dennis Martin has been named president and chief executive officer, following the resignation of William H. Osborne. Get the full story »
Pactiv Corp. reported a 14 percent drop in third-quarter earnings on prior-year earnings from discontinued operations as the maker of Hefty garbage bags and other packaging products reported higher volume but lower margins on a jump in raw-material costs. Get the full story »
The new bank that took over the operations of failed ShoreBank on Aug. 20 made a $25.4 million net profit in the period ending Sept. 30, according to newly filed documents with the Federal Deposit Insurance Corp. Get the full story »
As eBay Inc. prepares for a critical holiday shopping season, the company this week plans to unveil new elements of an overhaul in how shoppers find and buy products on its Web site.
Behind the new look, which includes eBay’s first major home-page redesign in nearly four years, is an urgent effort to close a technology gap that has caused the onetime Web pioneer to lag behind rivals like Amazon.com Inc. Amazon for years has had many of the same features that eBay is adding. Get the full story »
CNA Financial Corp. reported a $140 million loss, or 59 cents a share, in the third quarter, as the company recorded a loss from its previously announced agreement to transfer its legacy asbestos liabilities to Berkshire Hathaway Inc. Get the full story »
Alberto Culver Co. reported a better-than-expected quarterly profit, boosted by strong sales in Latin America and Canada.
Net income at the maker of Alberto V05 and TRESemme shampoos rose to $41.3 million, or 41 cents a share, in the fourth quarter ended Sept. 30, up from $31.7 million, or 32 cents a share, a year earlier. Get the full story »
Animals, chemicals, and astronomical phenomena have disguised some of 2010’s takeovers, and dealmakers may have to come up with more aliases to keep their plans secret as mergers and acquisitions accelerate.
Speaking in code is nothing new in a world of “bear hugs,” “poison pills,” and “white knights” but the colourful terms are an important guard against leaks that could torpedo a deal or facilitate insider trading. Get the full story »
Smurfit-Stone Container Corp.’s third-quarter earnings fell 4.4 percent excluding preferred-dividend impacts as the packaging company reported higher revenue and margins on price hikes, but was hurt by income-tax impacts. Get the full story »
American International Group said Monday that it has raised nearly $37 billion as part of its plan to pay back the government’s multi-billion dollar bailout. Get the full story »
An undetermined number of McDonald’s employees at a northeastern Ohio franchise received handbills in their most recent paychecks suggesting they vote for three Republican candidates.
The fast food chain’s corporate headquarters in Oak Brook quickly condemned the action by the Canton, Ohio, restaurant, saying it was not reflective of the company’s position. Get the full story »
By Lisa Black | Convicted of stealing millions from investors, a Winnetka man who declared himself so broke he was assigned a public lawyer is living on the 19th floor of a $2,600-a-month luxury resort and spa overlooking Florida’s Gulf Coast.
Steven Green, 52, persuaded a federal judge to allow him to delay reporting to prison by a month — from Oct. 26 to Nov. 30 — so that he could move his wife to Pensacola Beach, Fla., before he begins his 78-month incarceration.
