The departing head of Baxter International Inc.’s medication delivery business will become president and chief operating officer of a New Jersey based maker of orthopedic and neurosurgical devices and instruments. Get the full story »
Oct. 15, 2010 at 1:45 p.m.
Comments Off
Filed under: Chicago executives, Personnel moves, Pharmaceuticals Baxter’s Arduini to leave for Integra
Cotton at highest price in 140 years
Cotton prices are at their highest in the 140 years the commodity has traded on an exchange, as heavy Chinese buying and poor harvests are expected to keep global supplies tight.
The ICE December cotton contract hit $1.1980 a pound minutes after trading opened, eclipsing the previous record high set in 1995 by more than 2 cents. Get the full story »
Oct. 15, 2010 at 12:40 p.m.
Comments Off
Filed under: Agriculture/Farming, China, International, M&A What’s ahead for Potash with Sinochem out
News that China’s Sinochem will not launch a counterbid for Potash Corp., removes one of the biggest potential obstacles to BHP Billiton’s $39 billion offer for the Canadian fertilizer giant.
The fate of Potash is far from certain, however, as other white knights may emerge, and BHP faces regulatory hurdles on the one hand and demands from Potash for a higher bid on the other. Get the full story »
Redbox adding video games in Chicago
(AP Photo/Damian Dovarganes)
Oakbrook Terrace-based Redbox is adding video games to its $1 a night DVD-rental kiosks in Chicago this month as part of an expanded video game test pilot.
Kiosks will be stocked with games for Wii, Playstation and Xbox 360, the company said, in select markets in the West, Midwest and Atlantic coast regions and are available for $2 per night.
Get the full story »
Oct. 15, 2010 at 11:10 a.m.
Comments Off
Filed under: China, Economy, International, Policy, Politics, Trade U.S. to judge China yuan policy as election nears
The Obama administration faces a tough call Friday whether to label China a currency manipulator, a move long demanded by many U.S. lawmakers but also a potentially big wrench in an important relationship. Get the full story »
Bank shares slide on foreclosure worries
Bank shares declined Friday morning in a broad industry sell-off, as investors continued to fear the impact the continuing foreclosure crisis will have on future earnings. Get the full story »
Card delinquencies fall, but recovery elusive
Fewer Americans fell behind on their credit card payments in September, but the pace of improvement slowed again, accelerating fears that banks will not recover from their consumer loan losses for years.
Shares of several major U.S. credit card lenders, including Bank of America Corp, JPMorgan Chase and Co, and Capital One Financial Corp, fell in morning trading on Friday. Get the full story »
Bernanke: Fed ready to give more help
Fed Chairman Ben Bernanke. (AP)
Federal Reserve Chairman Ben S. Bernanke on Friday laid out a case for the central bank to take further action to bolster growth, citing the risks of prolonged high unemployment and a U.S. economy slipping into a deflationary spiral.
In a much-anticipated speech in Boston, Bernanke did not spell out details of how and when the Fed would take action. But the first option that he mentioned was a program of buying additional assets, namely government bonds, in an effort to drive down long-term interest rates and stimulate economic growth.
The central bank is widely expected to announce such a program, known as quantitative easing, at its next policymakers’ meeting on Nov. 2 and 3. Get the full story »
GM recalls Chevy Impalas on seat belt issue
General Motors is recalling 322,409 model year 2009 and 2010 Chevrolet Impala sedans because front seat belts may not be properly anchored, the automaker and federal regulators said on Friday. Get the full story »
Inflation lower than expected in September
Consumer prices are up slightly over last year driven by climbing food and energy costs, according to a government report released Friday.
The Consumer Price Index, a key measure of inflation, rose 1.1 percent over the last 12 months ending in September, the Bureau of Labor Statistics said Friday. Any number above zero means prices are rising, but a rate around 1 percent is considered very slow growth. Get the full story »
Retail sales up for 3rd straight month
Retail sales posted a third monthly increase in September as solid gains at auto, furniture and hardware stores helped to offset weakness at clothing and department stores. Get the full story »
GE revenue sinks 18%, profit misses
General Electric Co. reported a sharper-than-expected drop in revenue on slack demand for heavy equipment, casting doubts about the pace of the U.S. recovery from the worst economy since the Great Depression.
The largest U.S. conglomerate’s 5.1 percent decline in sales overshadowed better-than-expected profit and sent GE shares down 3 percent in premarket trading on Friday as some investors took it as another sign that the economic recovery is faltering. Get the full story »
Coyote Logistics to move to Chicago
From the Chicago Sun-Times | Coyote Logistics LLC, a Lake Forest-based logistics company employing 140 people, said it will relocate to Chicago’s North Side by mid-2011. The company said it also plans to add 160 jobs at its new, larger location within two years. Get the full story>>
Russia, CME talk about regional wheat market
Russia is exploring the creation of a regional wheat futures market and this month held talks with senior executives at CME Group Inc., according to a senior official at the Chicago-based exchange operator.
The planned venture would add another global platform for trading alongside Chicago and Paris, serving the fast-growing “bread basket” of Russia, Ukraine and Kazakhstan, which has become an increasingly important source of European food imports. Get the full story »
