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  • OSI Group, based in Aurora, investigates report that expired meat reprocessed

    The meat supplier at the center of China’s latest food scandal is a unit of Aurora-based OSI Group, a major beef and chicken supplier to McDonald’s restaurants. OSI Group issued a statement Monday saying it has launched its own investigation into a report on China’s Dragon TV that workers at its factory in Shanghai were caught on camera reprocessing expired and discarded meat, including picking up meat off of the floor and mixing fresh meat with meat older than the expiration date.

  • German supermarket tycoon Albrecht dead at 94

    Karl Albrecht, co-founder of the Aldi grocery store empire and one of the world’s richest people, has died in the western German city of Essen. He was 94.

  • Weak earnings, Ukraine tensions weigh on stocks

    The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

  • Allergan to cut 1,500 employees in restructuring

    Botox-maker Allergan says it is cutting about 13 percent of its workforce, or roughly 1,500 employees, as part of a push to become more efficient and productive.

    Tesco chief Philip Clarke to step down

    Tesco says chief executive officer Philip Clarke will be stepping down after the latest earnings figures showed Britain’s largest retailer by revenue struggled at home.

    Russia’s Severstal selling US plants for $2.3B

    Russian steel company Severstal is exiting the U.S. market, selling a pair of steel plants to AK Steel and Steel Dynamics for about $2.33 billion. Steel Dynamics, based in Fort Wayne, Ind., is buying a plant in northeast Mississippi.

    Halliburton 2Q profit rises, boosts buyback

    Oil and gas drilling firm Halliburton Co. said Monday its second-quarter earnings rose 20 percent, and it raised its share buyback authorization to $6 billion.

    AbbVie insists Shire deal will not lead to job cuts in Chicago area


    Chicago-area AbbVie Inc. employees worried about job security after the pharmaceutical firm’s planned $55 billion merger with fellow drugmaker Shire PLC have been told not to fret. That’s the same signal employees at Aon PLC were sent more than two years ago when the insurance …

    Forbes sells majority stake to group of investors

    Forbes said Friday it will sell a majority stake in the family-owned magazine publisher to a Hong Kong-based investor group.

    Kia recalls nearly 52,000 Souls to fix steering

    Kia is recalling nearly 52,000 Soul small SUVs to fix a problem that can cause steering failure.

    US-EU trade talks sour amid chlorine chicken fears


    Visions of chlorine-drenched chickens and the prospect of genetically modified “Frankenfood” invading dinner tables across the European Union are proving serious impediments to the signing of a sweeping free trade agreement between the United States and the 28-country bloc.

    Honeywell 2Q profit climbs 7.6 percent

    Honeywell International Inc. on Friday reported profit that climbed by 7.6 percent in its second quarter, and topped analysts’ expectations.

    Axed Nokia X phones suffered from lack of identity


    The Nokia X phones that Microsoft discontinued this week blend two rival operating systems, but leave out the best of each. As a result, the devices didn’t become a runaway hit as Nokia’s low-cost answer to serving emerging markets.

    GM says it’s replaced 491,000 ignition switches

    General Motors says it has replaced faulty ignition switches on just under 20 percent of 2.6 million small cars that are being recalled.

    Fiat denies merger talks with VW

    Italian automaker Fiat and its main shareholder denied on Thursday a media report that the company is in merger talks with rival Volkswagen. The German carmaker also said it had no plans for mergers or acquisitions.