McDonald's plan $1B in restaurant updates

At a time when most of McDonald's competitors are still shell-shocked from the recent recession, the fast-food giant is undertaking its biggest store-by-store makeover in the chain's 56-year history It's a $1 billion-plus undertaking that McDonald'...

Groupon, Live Nation offer online-ticketing deals

Concert promoter Live Nation Entertainment Inc. and online deal site Groupon are forming a venture to develop an online ticketing deal Web site called GrouponLive.

Nevada business group wants Amazon to collect tax

A coalition of hotel-casinos and small businesses is launching a $50,000 advertising campaign to build support for a, Illinois-style change in tax laws so Amazon.com and dozens of other e-commerce companies would have to collect state sales taxes...

Republicans: Change consumer bureau, or else

Republican senators have fired another broadside at the Consumer Financial Protection Bureau, vowing to block the nomination of any candidate to lead the watchdog agency without major structural reforms.

The day ahead in business

Local earnings: Broadwind Energy Inc., John Bean Technologies Corp., MYR Group Inc.

Boeing says 747-8 still on track for 2011

Boeing Co., which is ramping up production of its 747-8 airplane, denied a news report that it is freezing production for a month and delaying delivery.

United Continental traffic rises in April

United Continental Holdings Inc.'s traffic strengthened last month, reversing the trend of slowing growth or declines that the world's biggest airline had reported since combining operating data in October.

Bank of America gets rid of overdrawn-check cushion

Bank of America Corp. is becoming more of a stickler when it comes to people writing bad checks.

Illinois Tool Works board OKs $4B share-buyback plan

Illinois Tool Works Inc.'s board authorized up to $4 billion in share repurchases, which represents roughly 14% of the company's current market value.

CF Industries shares soar after earnings report

CF Industries is walking on sunshine despite a gloomy spring in the Midwest.

U.S. Cellular to offer 4G service in more states

U.S. Cellular Corp. said Friday its 4G mobile network will be available by November to selected cities in Iowa, Wisconsin, Maine, North Carolina, Texas and Oklahoma.

Big Illinois employers plan nearly 500 layoffs

Major employers told the state last month that they plan to cut 474 employees, mostly in Rolling Meadows and Elk Grove Village, starting this month for reasons ranging from lost contracts to relocations.

Motorola Mobility gets $100M from Illinois to stay

Gov. Pat Quinn proferred more than $100 million in financial incentives to convince Motorola Mobility Holdings Inc. to keep its corporate headquarters in Libertyville, touting the deal as essential to preventing a move to a high-tech hub in...

Access Industries picks up Warner Music for $3.3B in auction

Billionaire Len Blavatnik's Access Industries has won the auction to take control of Warner Music Group Corp. for $3.3 billion, setting the stage for a possible bid for rival music company EMI Group.

Coke, Pepsi settle juice packaging dispute

Coca-Cola Co. and PepsiCo Inc. have settled a trademark lawsuit over the latter's packaging for its Trop50 fruit juices.

FDA OKs wider use of Abbott Acculink neck stent

Federal health officials have expanded approval of an artery-opening stent from Abbott Laboratories to a larger group of patients at risk for stroke caused by plaque buildup in the neck arteries.

Citi's 1-10 reverse stock split takes effect Monday

Citigroup Inc., which needed $45 billion in U.S. government handouts to survive the financial crisis, is about to paper over a visible remnant of its near-failure: its single-digit share price.

Unilever ordered to sell VO5, Rave to close Alberto Culver deal

Unilever Group must sell two hair care brands -- VO5 and Rave -- to wrap up its purchase of Alberto Culver Co , the Justice Department said Friday.

Low Oprah network ratings cost CEO her job

Discovery Communications Inc. and Oprah Winfrey said Friday that they replaced Christina Norman as chief executive of OWN, the Oprah Winfrey Network, with an interim CEO after a tough start for the 5-month-old cable network.

Honda to sell natural gas Civic GX nationwide in fall

Honda Motor Co. has decided to market its natural-gas-powered Civic GX nationwide in the U.S. starting this fall when a new model is released, company sources said Friday, The Nikkei reported.

Obama: U.S. gas prices a headwind on economy

President Barack Obama Friday said high gasoline prices are eating away at workers' paychecks, calling it a head-wind on U.S. economic activity.

Allerton Hotel owner files for bankruptcy

The new owner of Chicago's Allerton Hotel on Michigan Avenue has filed for bankruptcy, but said the boutique property will continue normal operations while it reorganizes. 

Tribune Co. names Eddy Hartenstein president and CEO

The board of Chicago-based Tribune Co. on Friday announced it had appointed Los Angeles Times Publisher Eddy Hartenstein as president and chief executive of the media concern, which has operated under bankruptcy protection since December 2008.

Oil rebounds $3 after 10 percent drop

Oil prices rose Friday, bouncing up $3 in a slight rebound from a 10 percent crash the previous session.

AM Castle Q1 profit lags Street view

Specialty metals and plastics distribution company A.M. Castle & Co's quarterly profit fell below market estimates, hurt by a rise in raw material costs.

Fortune Brands' home unit files stock registration

Fortune Brands Home & Security Inc., the company that will be spun off from Deerfield-based Fortune Brands Inc. later this year, filed a stock registration statement Friday with the U.S. Securities and Exchange Commission.

Job gains largest in 11 months, but jobless rate up to 9%

The American economy created a healthy batch of new jobs in April for the third straight month, allaying fears of a stall in hiring due to higher oil prices and concerns about an economic slowdown.

State Line power plant to close at 2012

One of the nation's dirtiest power plants is shutting down, a move that will scrap a major source of lung- and heart-damaging air pollution in the Chicago area.

Sony CEO apologizes to gamers, shares fall 2%

Sony Chief Executive Officer Howard Stringer apologised to users of its PlayStation Network and other online services, breaking his silence on the biggest Internet security break-in ever.

Economy in poor shape, 8 in 10 Americans say

More than 80 percent of Americans surveyed say the economy is in poor shape, with unemployment still the public's top concern, according to the latest CNN/Opinion Research Corporation survey.

Dairy Queen to mark site of first U.S. store in Joliet

Celebrations are planned in Joliet this May to mark the site of the country's first Dairy Queen ice cream shop.

S&P; 500 CEO pay averages $9M in 2010

In the boardroom, it's as if the Great Recession never happened.

The day ahead in business

Reports: Unemployment rate for April, 7:30 a.m.; Consumer credit for March, 2 p.m.

FDIC's Bair floats idea of two-tiered banking regulation system

FDIC chairwoman Sheila Bair said Thursday that it might make sense to have a two-tiered regulatory system, one for big banks, one for small.

Motorola Mobility to stay in Libertyville

Motorola Mobility Holdings Inc. is expected to announce Friday that it will keep its headquarters in Libertyville, a source familiar with the deal confirmed Thursday.

Orbitz quarterly net loss jumps; shares fall

Online travel agency Orbitz Worldwide said on Thursday its quarterly net loss more than doubled as its U.S. consumer business underperformed.

Archer Daniels Midland names new director

Agribusinessconglomerate Archer Daniels Midland Co. named the retired chief financial officer of seed company Monsanto Co. to sit on its board of directors.

Allscripts 1Q profit down 32% on lower margins

Chicago-based Allscripts Healthcare Solutions Inc.'s first-quarter earnings fell 32 percent, though adjusted results rose and topped analysts' estimates, as revenue increased sharply but expenses jumped and margins fell.

Barnes & Noble to announce new eReader May 24

Barnes & Noble is set to announce a new eReader on May 24, according to a regulatory filing from the company.