Feb. 21 at 2:07 p.m.
Filed under:
Chicago executives,
Personnel moves
By Emily Bryson York
Kronos Foods Corp., the Glendale Heights-based manufacturer of gyros and other Mediterranean foods, has appointed Howard Eirinberg as president, a newly-created position, effective immediately. Kronos is a subsidiary of Kronos Foods Inc.
Eirinberg, 51, was previously president and COO of Chicago-based Vienna Beef, Ltd. In eight years with the company, he is credited with the developing new products, introducing them into new channels, and building the company’s brand awareness. Get the full story »
Feb. 21 at 1:27 p.m.
Filed under:
Energy,
International
By Reuters
World markets have plenty of oil, top exporter Saudi Arabia said Monday, as a wave of revolution that has toppled two presidents tightened its grip on OPEC member Libya and drove prices to a 2-1/2 year-high.
Energy ministers arrived in the Saudi capital Riyadh on the eve of talks designed to narrow the gap between producer and consumer nations. Get the full story »
Feb. 21 at 1:11 p.m.
Filed under:
International,
Regulations,
Trade
By Reuters
Brazil said on Monday the World Trade Organization had made a final ruling in its favor in a dispute with the United States over anti-dumping measures imposed on its orange juice exports.
The decision by a WTO dispute panel, which Brazil’s foreign ministry said in a statement was a “major victory,” would be the second major trade dispute Brazil has won against the United States after a successful case against U.S. cotton aid last year. Get the full story »
By Kathy Bergen
While Indiana is gunning for Illinois businesses, the Chicago Convention & Tourism Bureau poached a second key convention and tourism official from Indianapolis.
Warren Wilkinson, 51, has been named senior vice president, marketing and communications, at the bureau, which is restructuring its management staff. Get the full story »
Feb. 21 at 11:41 a.m.
Filed under:
Energy,
International,
Politics
From The New York Times | Global oil companies said Monday that they were making plans to evacuate employees in Libya after some operations there were disrupted by political unrest. The country holds the largest crude oil reserves in Africa.
Feb. 21 at 10:55 a.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
President Barack Obama’s budget proposal would be “marginally positive” for U.S. credit ratings in the short term, but there is “almost no chance” Congress will pass the plan as it was presented, Moody’s Investors Service said on Monday. Get the full story »
Feb. 21 at 9:58 a.m.
Filed under:
Retail
By Emily Bryson York
Supervalu Inc., the supermarket giant that owns Jewel-Osco, is opening five Save-A-Lot discount grocery stores on the South Side this week. It’s also closing a Jewel store, signs of the rapidly changing and increasingly cutthroat grocery business.
Feb. 21 at 9:32 a.m.
Filed under:
Airplanes
By Associated Press
A Delta plane’s engine failed in mid-air over Florida, forcing the flight to make an emergency landing Sunday morning, authorities said.
Federal Aviation Administration spokeswoman Kathleen Bergen said it was a so-called “contained” engine failure, meaning small parts such as fan blades came out the back of the engine. A more dangerous scenario would be if the pieces penetrated the engine’s cover and were uncontained. Get the full story »
Feb. 21 at 8:48 a.m.
Filed under:
Education,
Taxes
By Gail MarksJarvis
Beware if you turn to an expert with your FAFSA, or the college financial aid form that many parents are now rushing to complete before February and March deadlines.
The typical tax professional that helps you with your tax return may not be equipped to maximize your financial aid. In fact, your tax preparer might inadvertently undermine your chances of getting aid.
Feb. 21 at 8:10 a.m.
Filed under:
Airplanes,
Defense
By CNN
Even by Pentagon standards, it’s an eye-popping prize: a $35 billion contract to build nearly 200 giant airborne refueling tankers. And the decade-long brawl by two defense industry titans to win it has been just as epic.
In a matter of weeks — if not days — the Pentagon will announce whether Chicago-based Boeing Co. or European Aeronautic Defence and Space Company will build 179 new tankers to replace the Air Force’s Eisenhower-era KC-135 planes. Get the full story »
Feb. 21 at 7:29 a.m.
Filed under:
Food,
Franchises,
International,
Restaurants
By Reuters
McDonald’s Corp.’s Indian franchisee plans to set up 30 new restaurants in the southern and western parts of the country this year, as part of the restaurant chain’s expansion plans in Asia’s third-largest economy.
Speaking to Reuters in an interview, Hardcastle Restaurants Private Ltd Vice Chairman Amit Jatia said the franchisee would invest $111 million in India over the next three to four years. Get the full story »
Feb. 21 at 6:57 a.m.
Filed under:
Energy,
International
By CNN
Oil prices surged more than 4 percent early Monday as anti-government protests in the Middle East and Africa intensified, raising worries about possible supply disruptions.
Crude oil for April delivery gained $3.40, or 3.8 percent, to $93.11 a barrel after earlier jumping as high as $93.75. Oil prices have been trading in a range between $88 and $94 a barrel since the start of the year. Get the full story »
Feb. 21 at 6:18 a.m.
Filed under:
Autos,
Energy
By CNN
U.s. gasoline prices have jumped another nickel per gallon — pushing prices to 55 cents more than a year ago — according to a study published Sunday.
The average price for a gallon of regular is $3.18, the Lundberg Survey found. That’s up 5 cents from two weeks ago, publisher Trilby Lundberg said. In Chicago, the average price for a gallon of regular is $3.284, according to AAA’s Fuel Gauge report. Get the full story »
Feb. 21 at 5:59 a.m.
Filed under:
Exchanges,
M&A
By Dow Jones Newswires-Wall Street Journal
Exchange giant CME Group Inc. discussed a merger with Deutsche Boerse AG in late 2007, but the two companies couldn’t agree on a price, according to people familiar with the matter.
The aborted talks show how hungry the Chicago company was to combine the biggest derivatives-trading operations in the U.S. and Europe. Even though the discussions fell apart, CME still has ambitions for world-wide dominance in derivatives. Get the full story »
Feb. 21 at 5:41 a.m.
Filed under:
China,
International,
Internet
By Dow Jones Newswires-Wall Street Journal
Deals Web site Groupon Inc. appears to be making preparations to start operations in China, a move that could shake up the market for group buying, even though challenges lie ahead for the young U.S. company.
Chicago-based Groupon, which opened in 2008 selling discounted products and services from local merchants such as restaurants and nail salons, faces a huge Internet market that has confounded some of the world’s biggest players. Get the full story »
