Realty trade group overreported Chicago home prices

The Illinois Association of Realtors dramatically overreported the median price of condominiums sold within the city of Chicago in May, with the price...

Anheuser-Busch wants to trademark area codes in the U.S.

In what could be seen as an attempt to mimic the local marketing success of Goose Island's popular 312 Urban Wheat Ale, Anheuser-Busch InBev has filed...

Vandals hit 3 local funeral homes facing Tuesday strike threat

In a bizarre twist to an ongoing labor dispute, three Chicagoland funeral homes where workers are set to strike Tuesday have been vandalized,...

Poll finds small business does not plan major hiring push

U.S. policymakers seeking an answer to the country's stubbornly high unemployment rate should not expect relief from small businesses, said a survey...

Gupta wins ruling; can sue SEC over Galleon case

Former Goldman Sachs Group Inc. director Rajat Gupta may pursue his lawsuit accusing the Securities and Exchange Commission of violating his rights by...

Wall St. eases credit for financial instruments, Fed reports

Wall Street eased financing terms for hedge funds, private equity firms, insurers and institutional investors in the past three months, a Federal...

Macy's to pay $750K fine for selling kids' drawstring clothes

Macy's Inc. has agreed to pay a $750,000 fine for failing to report for four years that it had sold kids' clothes with drawstrings at the neck, a...

WTO rejects U.S. anti-dumping tariffs on Vietnam shrimp

World Trade Organization judges on Monday ruled that the United States is violating global trade rules in using its controversial "zeroing" method...

Radio personality Steve Dahl to charge for podcasts

Veteran on-air radio personality Steve Dahl is staying in cyberspace. Eschewing traditional broadcasting, Dahl announced plans Monday to turn his...

Shareholders sue News Corp. over phone hacking scandal

A group of News Corp. shareholders have sued the company over a phone-hacking scandal at its now-closed News of the World tabloid in London.

Target to sell new electronic reader

Target Corp. will soon start selling a new electronic reader that competes with Amazon.com Inc's Kindle and Barnes & Noble's Nook.

Obama rules out short-term debt solution

President Obama on Monday vowed not to sign a short-term debt-ceiling increase, saying lawmakers have a unique opportunity to agree to a significant...

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  Before more debt talks, Obama to make his case to the public

Conrad Black to report to prison by Sept. 6

Former media tycoon Conrad Black has to report to federal prison by Sept. 6, according to a judge's sentencing order released Monday.

Judge's ruling extends woes of fertilizer maker

A federal judge has extended an order preventing fertilizer producer Mosaic Co., a rival of CF Industries, from expanding a Florida phosphate mine.

Illinois Supreme Court upholds construction plan, video poker law

The Illinois Supreme Court today gave a thumbs up to Gov. Pat Quinn's showcase $31 billion public works program and the video poker that's supposed to...

Groupon changes privacy policy to collect, share more personal info

Groupon is changing its privacy policies to allow it to collect more information as it offers more deals targeted to users based on their locations.

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  LevelUp challenges Groupon's model with trio of deals

Stocks skid on global financial fears

Wall Street was set to skid more than 1 percent at the open on Monday as renewed jitters about Europe's debt crisis and the global economy...

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  Today's Business

TripAdvisor acquires Chicago-based Where I've Been

TripAdvisor, the world's largest travel site, announced Monday that is has acquired Chicago-based Where I've Been, LLC for an undisclosed sum.

CME broadens currency trading products

CME Group Inc. is revamping its offering of renminbi futures, taking advantage of swelling...

Nicor to begin offering electricity later this month

Nicor Inc. is taking on Exelon Corp. in a battle of utility titans with game-changing implications for the newly competitive residential electricity...

Nestle buys stake in Chinese candy maker Hsu Fu Chi for $1.7 billion

Nestle SA, the world's biggest food and drink company, took another big step into the Chinese market Monday with the announcement that it is to buy...

Airbus, Boeing compete over American Airlines order: report

European aircraft builder Airbus aims to win a large plane order from AMR Corp's American Airlines by offering $6 billion in preferential...

The day ahead in business

Local earnings: Material Sciences Corp.

First Chicago fails, Wintrust takes over assets

First Chicago Bank & Trust failed Friday, and its assets and deposits were taken over by Lake Forest-based Wintrust Financial Corp. Since April...

IMF approves 3.2 billion euro loan payment for Greece

The International Monetary Fund's executive board on Friday said it approved a disbursement of about 3.2 billion euros to help Greece pay debts due...

Hackers break into Kiplinger customer database

Kiplinger Publications, which puts out personal finance magazines, said that hackers broke into its database and accessed information about 142,000...

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  Hackers expose flaw in Apple iPad, iPhone software

Loyola University Chicago upgraded after sale of medical center

Moody’s Investors Service said it upgraded Loyola University Chicago’s debt rating following the closing of the school’s sale of its...

Time running out for First Chicago, Wintrust likely buyer

More than a month after missing a deadline to raise capital, time has nearly run out for First Chicago Bank & Trust to survive on its own.

Starbucks' trenta size comes to Chicago

Starbucks is bringing 31-ounce "trenta"-sized iced coffee, tea and lemonade to Chicago and the Northeast on Tuesday.

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  Starbucks introduces ginormous "trenta" sized drink to Chicago

Hedge funds lag behind broader market in 1st half

Hedge funds eked out tiny gains during the first half of the year but lagged far behind the broader stock market, data released Friday show.

Consumer credit rose $5.08 billion in May

U.S. consumer credit rose by another $5.08 billion in May, according to a Federal Reserve report on Friday that suggested a willingness to keep...

Wages fall in sagging jobs market

Workers made less per week in June than anytime over the past 18 months, when adjusted for inflation.

Groupon rival LivingSocial taps 3 banks to lead IPO

LivingSocial, the biggest competitor to Chicago-based Groupon in the social-coupon space, has picked three banks to lead its forthcoming initial...

Jetway maker JBT wins L.A. airport contract

Chicago-based JBT Corp. has secured a $26 million contract to supply gate equipment for an expansion project at the Los Angeles International Airport.

Middleby to buy German company Mauer-Atmos

Elgin-based food service equipment maker Middleby Corp. said Friday that it is acquiring German thermal-processing systems maker Mauer-Atmos GmbH.

FDIC's Bair to join Pew Charitable Trusts as adviser

U.S. bank regulator Sheila Bair will join Pew Charitable Trusts in September as a senior adviser, the non-profit organization said Friday.

Green Chicago business gets funding from Groupon investor

A green Chicago-based company has caught the attention of a Groupon investor.

Internet providers to act against online pirates

Consumers who illegally download copyrighted films, music or television shows might see their Internet speed slowed or access restricted under an...

Ex-CME programmer to plead not guilty to trade secret theft charges

A former computer programmer for Chicago-based CME Group Inc. intends to defend himself against charges that he stole data from the futures exchange...

Defective counterfeit detector caused Bank of America fire in Loop, suit claims

A March fire at a Bank of America branch in the Loop was caused by a defective machine that is used to detect counterfeit money, Bank of America...

Caterpillar accused of demoting exec who told of $2B tax dodge

Peoria-based heavy equipment manufacturer Caterpillar used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes...

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  Read the lawsuit

Morgan Stanley cuts Google on margin worries

The search giant's margins will shrink as it undertakes aggressive hiring and ramps up advertising for new products, Morgan Stanley said.

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  Google asks businesses to stay out of Google+

Baxter sees positive immunodeficiency drug results

Results of a late-stage trial of a treatment for patients with immune deficiency disorders were positive.

Buffett to peruse Groupon's IPO filing

After warning investors about a social media bubble earlier this year, investor Warren Buffett said he will read Groupon Inc.'s filings for an initial...

U.S. jobs barely rise, unemployment up to 9.2%

U.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would...

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  CEOs wary of hiring, but sweat over jobless rate

China approves Caterpillar acquisition of Bucyrus

Peoria-based Caterpillar Inc., the world's largest maker of heavy equipment, said China's regulator had approved its acquisition of U.S. mining...

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  Caterpillar adding 200 jobs in Georgia

Groupon faces stiff, growing competition in Boston, U.S.

As Groupon prepares to go public, the e-commerce company's experience in Boston -- where the number of deaily deal sites has tripled in the past...

Hartford Courant page design work moves to Chicago Tribune

Tribune Co.'s newspaper in Hartford, Conn., said late Thursday it is shifting some design and copy editing jobs to the Chicago Tribune.

The day ahead in business

Reports: Unemployment rate for June, 7:30 a.m.; Wholesale inventories for May, 9 a.m.; Consumer credit for May, 2 p.m.

French court to decide on opening Lagarde inquiry

A French court will decide on Friday whether to launch a legal inquiry into the role of former Chicagoan and IMF chief Christine Lagarde in a 2008...

Boeing deliveries creep up in 2Q

Boeing Co. said Thursday that second-quarter commercial aircraft deliveries rose slightly from a year ago.

BofA to take $13 billion more in charges: Bernstein

Bank of America will take another $13 billion in charges related to pending settlement with private label mortgage-backed securities investors,...

Target gets approval to put logo on Sullivan Center

Discount retailer Target Corp. won approval Thursday to put up proposed signs at its downtown store in the landmark Sullivan Center in the Loop....

City trying to convince National Restaurant Assn. to switch dates

Chicago convention officials are trying to get the National Restaurant Assn., which is scheduled to go to McCormick Place on May 19-22 next year, to...

NU-Baxter study uses stem cells to repair hearts

A treatment that uses adult stem cells to rebuild failing hearts reduced severe chest discomfort, a study published Thursday shows.

Part of U.S. media ownership rule overturned

A federal appeals court has overturned part of a 2008 loosening of U.S. media-ownership rules that made it easier to own a newspaper and a broadcast...

Morgan Stanley, Jewel-Osco among companies reporting pending job cuts

Morgan Stanley is closing an office in Vernon Hills that will throw 223 people out of work by the end of the year, the financial services giant...

Illinois to share $92M from JP Morgan muni-bond settlement

JPMorgan Chase & Co. agreed to pay $228 million to settle charges that it rigged nearly 100 municipal bond transactions, federal and state...

Tax hike, amnesty plan boost Illinois revenue

Illinois' fiscal 2011 revenue jumped nearly $3.4 billion over fiscal 2010 collections due mainly to a big income tax rate hike and a tax amnesty...

Mortgage aid for unemployed expanded

The Obama administration will require mortgage companies to extend more generous mortgage relief to help certain unemployed borrowers from losing...

Electric, hybrid cars to sound warning to pedestrians

The  National Highway Traffic Safety Administration will propose a rule requiring electric and hybrid vehicles to sound an alert under certain...

Downwind rule aims at power-plant pollution from Illinois, 26 other states

The Environmental Protection Agency is clamping down on pollution from power plants in 27 states that contributes to unhealthy air downwind.

Amazon wins first skirmish in 'app store' battle with Apple

Apple has been dealt a blow in its "App Store" trademark case, with a federal judge denying its request for an injunction to stop Amazon from using...

Abbott criticized for India marketing campaign

If you sleep less than six hours a night, you're increasing your risk of developing or dying from heart disease by 48 percent. At least, that's what...

Murdoch to shut down British tabloid amid scandal

News International says it is shutting down the News of the World tabloid at the center of phone hacking scandal.

Retailers get a hand from select bargains in June

Top U.S. retailers reported better-than-expected sales for June after luring shoppers with bargains that analysts and shoppers alike say they will...

Consumers to get easier access to free credit scores

Banks and other institutions will soon have to reveal a credit score to consumers if they were denied credit because of their score.

NYSE shareholders back D.Boerse deal

NYSE Euronext shareholders approved a $9.6 billion takeover of the American exchange operator by Germany's Deutsche Boerse AG Thursday, moving the...

EBay buys Zong as mobile payments gain traction

EBay plans to buy mobile payments provider Zong for about $240 million in cash, as the e-commerce company makes a bigger push into mobile commerce.

Chicago brokerage sold to New York firm

Chicago-based brokerage Greenmoor Financial Group has been acquired by a New York trading firm.

Rate on 30-year fixed mortgage rises to 4.60%

Fixed mortgage rates rose this week by the most in four months.

Sara Lee names new CFO of North American operations

Sara Lee Corp. named a new chief financial officer for its North American operations, which will separate from its international coffee and tea...

Two reports show signs of job hope

The jobs market got two optimistic signs Thursday as private sector employers added 157,000 positions in June and fewer people filed new claims for...

JPMorgan unit buying APAC Customer Services

APAC Customer Services Inc. said Thursday t has reached an agreement to be acquired by the private-equity arm of JPMorgan Chase & Co. for about...

Advocate plans expansion of Christ Medical Center

Advocate Health Network plans to expand its flagship Christ Medical Center in southwest suburban Oak Lawn with a $202-million building for outpatient...

Pinkberry frozen yogurt chain opens first location in Chicago

Pinkberry, the Los Angeles-based frozen yogurt chain focused on tangy frozen yogurt in finite flavors and fresh fruit toppings, opens its first...

Boeing sees big growth potential in India

Chicago-based Boeing has forecast a $150 billion market for passenger airplanes in India over the next 20 years driven by a booming economy.

Economists: No rebound this year in housing prices

Housing prices are likely to keep falling the rest of this year, and probably won't show much improvement next year either, according to a survey of...

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  Existing home prices show gains in Chicago

Target to state its case for logo on Sullivan Center

If Target Corp. has its way, the retailer's red bull's-eye logo will loom large over State Street.

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  Map: Site of new Target

The day ahead in business

Reports: Jobless claims for week ended July 2, 7:30 a.m.; Mortgage rates for week ended July 7, 9 a.m., Crude inventories for week ended July 2, 10 a....

Allstate sues Morgan Stanley over mortgage securities fraud claims

Northbrook-based Allstate Insurance sued Morgan Stanley over residential mortgage-backed securities in which the insurer invested, according to a...

Innerworkings sues Yahoo over online information

Chicago-based printing services broker InnerWorkings Inc. has filed suit against Yahoo Inc. alleging the Internet giant understated earnings and...

OfficeMax, OfficeDepot downgraded by S&P;

Standard & Poor's Wednesday downgraded its ratings on Office Depot and Naperville-based OfficeMax, citing their susceptibility to weakening...

AAR Corp.'s 4Q profit nearly doubles

Aerospace supplier AAR Corp. said its fiscal fourth quarter earnings nearly doubled, as the company reported an increase in demand for spare parts and...

Obama tweets for the first time, tweaks Republicans

U.S. President Barack Obama took to Twitter Wednesday to press his economic agenda, using the popular social media site to tweak Republicans and...

Chicago law firm Wildman Harrold in merger talks

Chicago law firm Wildman, Harrold, Allen & Dixon said Wednesday that it is in advanced merger talks with a Boston firm that does not have an...

Persistently high prices keep gas demand on decline

U.S. retail gasoline demand fell last week, compared with a year earlier, as prices remained higher than levels seen in the 2010 period, MasterCard...

CME programmer charged with theft in plot to sell software to Chinese

An employee at CME Group, the United States' largest futures exchange operator, planned to steal proprietary software and pass it to a Chinese start-...

Corus set to offer creditors a plan to leave bankruptcy

After its liquidation proposal was rejected, Corus Bankshares Inc., an Illinois holding company that had its primary asset -- its bank-- stripped from...

Treasury's mortgage-backed securities holdings dip below $100B

The Treasury Department said Wedneday that it had recovered about 65 percent of the $225 billion it spent to purchase mortgage-backed securities to...

Apple asks trade panel to block imports of Samsung Galaxy devices

Apple Inc. has filed a U.S. trade complaint to block Samsung Electronics Co. from importing a variety of electronic devices, less than one week...

Kraft slips cauliflower into mac & cheese, stirs debate

It looks like Kraft Macaroni & Cheese, and Kraft says it tastes just like the original. But a new ingredient is lurking in this version of the...

Facebook to team up with Skype to offer video calling

Facebook is partnering with Skype to introduce video calling through the social networking platform, founder and Chief Executive Mark Zuckerberg...

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  Winklevoss twins abandon appeal of Facebook ruling

Walgreens sued over pistachio packaging

Murdoch backs newspaper exec involved in hacking scandal

News Corp.'s Rupert Murdoch backed his most senior newspaper executive in Britain, Rebekah Brooks, to see the company through its phone hacking...

Echo Global Logistics acquires Phoenix-based freight brokerage

Echo Global Logistics Inc. said it has acquired a freight brokerage company in Phoenix to expand its services in the Southwest.

Suncoke Energy sees IPO price at $15-$17 per share

Lisle-based metallurgical coal producer SunCoke Energy filed with U.S. regulators to offer 11.6 million units for $15-$17 each in an initial public...

Service sector growth slows in June, ISM reports

The pace of growth in the U.S. economy's services sector remained sluggish in June and new orders fell, but employment held steady last month,...

IMF's Lagarde says she will push on with reforms

The new IMF head pledged to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender.

Edward Hospital forms emergency ambulance venture

Edward Hospital of Naperville and a Michigan-based emergency medical services company have formed a joint venture to provide ambulance services to the...