Business News

Jan 5, 2009 | 13 comments

More and more women are turning to brothels for work in the new economy...

Jan 5, 2009 | 1 comment

This is a top 10 list you do NOT want to be on.

5 minutes ago

(Reuters) — Navistar International Corp. confirmed on Tuesday it will lay off as many as 199 workers at its Chatham, Ontario, truck plant, on top of the 499 recently announced layoffs set for Feb. 2. The...

5 minutes ago

(AP) — Fortune Brands Inc. said Tuesday it would record a $100 million pretax restructuring charge when it reports fourth-quarter and full-year results. The charges mostly relate to restructuring efforts...

59 minutes ago

(AP) — Federal regulators are proposing a $65,000 fine against Exelon Nuclear where security guards routinely napped on the job at a Pennsylvania power plant. The Nuclear Regulatory Commission announced...

59 minutes ago

(Crain’s) — The Chicago Board Options Exchange is nearing the end of a years-long legal battle that has kept it from following in the footsteps of most of its competitors to become a shares-based company, CEO William Brodsky said.

2 hours ago

Bank of America CEO and Chairman Kenneth Lewis is recommending that he and his top lieutenants receive no bonuses for 2008, saying he expects the bank's final results to be below expectations, according...

Jan 5, 2009

Investors gave back some gains from last week's rally even as they found some encouragement.

3 hours ago

(AP) — Aon Corp., the world's largest insurance broker, said Tuesday it has completed the sale of Auto Insurance Specialists LLC to auto insurer Mercury General Corp. Chicago-based Aon received $120...

4 hours ago | 1 comment

Federal Reserve officials feared the economy would be stuck in a painful rut for some time despite their decision to slash interest rates to a record low and pledge to use other unconventional tools to...

3 hours ago

(AP) — The New York Stock Exchange notified the Securities and Exchange Commission that it will delist some of Tribune Co.'s publicly traded debt following the newspaper publisher's Chapter 11 bankruptcy...

5 hours ago

Iowa's new smoking ban already has some bars finding creative ways to get around the law.

5 hours ago

After fleeing to the safety of US Treasurys, investors are moving back into stocks and corporate bonds in search of something else—profits.

5 hours ago

This is an expensive ad campaign. Leo Burnett will have to fork over $15.5 million to settle a whistleblower lawsuit saying they overbilled the Army.

3 hours ago

(Crain’s) — Companies throughout the Chicago area reduced their payrolls in November by the most jobs in more than four years, government figures released Tuesday show. There were 34,400 fewer people...

3 hours ago

(Crain’s) — The international finance unit of ShoreBank Corp. has put together a $63-million fund to finance micro-loans in impoverished parts of East Africa.

3 hours ago

(AP) — Huron Consulting Group Inc. said Tuesday it has acquired Saudi Arabian consulting firm Nextmove for an undisclosed amount. The acquisition expands Huron's presence in the Middle East, specifically...

3 hours ago

(AP) — Vasco Data Security International Inc. said Tuesday that 2008 revenue will come in below expectations because of a weak fourth quarter as customers delay orders and sales take longer to close. The...

3 hours ago

(AP) — Cooling-system maker SPX Corp. said Tuesday it has agreed to sell its GSE Scales product line to Illinois Tool Works Inc. for an undisclosed amount. The company did not disclose any financial details...

3 hours ago

(AP) — Isis Pharmaceuticals Inc. said Tuesday it closed the $175 million sale of its remaining stake in Ibis Biosciences to Abbott Laboratories. In addition to the purchase price, Isis will also receive...

3 hours ago

(AP) — Boat maker Brunswick Corp. said Tuesday it will cut up to 275 jobs by Friday in order to deal with softening demand. The recreational boat industry has been squeezed as consumers curb discretionary...

3 hours ago

Wall Street has dismissed more bad economic news and finished with a moderate advance that left stocks at their highest levels in two months.

Jan 6, 2009

Minnesota's senate seat. The controversy surrounding Roland Burris. New York's next senator. Day one of the new congress is clouded by question marks, but lawmakers face pressure from the President-elect...

3 hours ago

(Crain's) — Dick Butkus always did his best work in Chicago. Now his hometown will be the site of perhaps his most important work yet. The Bears legend has made Chicago the base for the Butkus Foundation,...