Federal Reserve Bank of Chicago President Charles Evans on Friday said investors may still expect ailing financial institutions to be bailed out by governments despite reforms aimed at reversing market psychology. Get the full story »
Study: 25% of meat has drug-resistant bacteria
A shopper at a Cub Foods grocery store in Burnsville, Minn. (AP/Jayme Halbritter)
A sampling of grocery store meat in five U.S. cities has shown a type of drug-resistant bacteria is contained in about one quarter of beef, chicken, pork and turkey for sale, a study said Friday.
Staphylococcus aureus, a bacteria that can cause skin infections, pneumonia, sepsis or endocarditis in people with weak hearts, was found in 47 percent of samples, said the study in the journal Clinical Infectious Diseases. Get the full story »
Gas averaging $4 a gallon in Illinois, 4 other states
The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.
The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. It’s above $4 in Illinois, Connecticut, California, Hawaii and Alaska. Get the full story »
United to operate charter flights for Giants
United Airlines said Thursday it has agreed to fly the San Francisco Giants baseball team to road games and work with the defending World Series champions on customer and fan promotions.
The Chicago-based airline will also get its name on more signs inside the Giants’ stadium, AT&T Park, and on the schedule page of the baseball club’s website under a letter of agreement signed by the team and the air carrier. Financial terms were not disclosed. Get the full story »
U.S. nuclear output slips as Exelon slows reactor
From Bloomberg News | U.S. nuclear-power output slipped for a second day as Scana Corp. slowed its Summer reactor in South Carolina and Exelon Corp. slowed the 1,152-megawatt Braidwood 2 reactor in Illinois to 91 percent of capacity from 97 percent yesterday.
Illinois man denies taking military data to China
An Illinois man pleaded not guilty Thursday to taking restricted military data from his former job at a New Jersey technology company and presenting it at two conferences in China last fall. Get the full story »
Factories boost output for 9th straight month
U.S. factories produced more consumer goods, business equipment and raw materials in March, boosting manufacturing activity for the ninth straight month. Get the full story »
Graco to pay $650M for unit of Illinois Tool Works
Graco Inc. said Thursday that it agreed to pay $650 million in cash for Illinois Tool Works Inc.’s finishing businesses. Get the full story »
Bank of America posts 37.5% decline in 1Q profit
Bank of America posted a 37.5 percent decline in first-quarter earnings Friday and named a new chief financial officer. Get the full story »
Banks, SEC in talks to settle mortgage charges
The Securities and Exchange Commission is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter. Get the full story »
Goldman, Morgan Stanley may lead Groupon IPO
Groupon CEO Andrew Mason speaking in August 2010 at Groupon's headquarters, 600 W. Chicago Ave. (Brian Cassella/Chicago Tribune)
Groupon is likely to pick Goldman Sachs and Morgan Stanley to lead a second-half initial public offering that could value the fast-growing daily deals site at $15 billion to $20 billion, a source familiar with the matter said on Thursday.
Groupon could raise as much as $1 billion in the IPO, which could come in the second half of 2011, although the exact size had not yet been determined, said the source, who was not authorized to speak to the media. Get the full story »
China, India prices show global inflation on rise
China and India both reported higher-than-expected inflation readings on Friday, giving fresh ammunition to central bankers and investors alike who are worried about mounting price pressures in the global economy. Get the full story »
The day ahead in business
Reports: Consumer Price Index for March, 7:30 a.m.; International money flows for February, 8 a.m.; Industrial production, 8:15 a.m.; Michigan Consumer Sentiment Index, 9 a.m.
Local earnings: Amcol International Corp.
Other major earnings: Bank of America, Mattel Inc., Nestle
Tyree death put U. of C.’s Medicare funding at risk
The federal government threatened to strip a key financial lifeline at University of Chicago Medical Center in the wake of a medical error that contributed to the death last month of Chicago Sun-Times Chairman James Tyree. Get the full story »
Zipcar up 58% in Nasdaq debut
Shares of Zipcar soared 66 percent in early Nasdaq trading on Thursday as investors sought to buy into the leader of the growing U.S. car-sharing industry. Get the full story »
