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NEW YORK — Institutional Shareholder Services, a leading shareholder advisory firm, is telling shareholders to protest Sprint Corp. CEO Dan Hesse’s $49 million 2013 pay package, saying it’s excessive and not tied to performance. Hesse got a special $18.7 million “retention” award in connection with …Read More
LOS ANGELES — Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded “economic patriotism” from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers. “I don’t care if it’s legal,” Obama declared. “It’s wrong.” …Read More
WASHINGTON — The number of people seeking U.S. unemployment benefits fell last week to its lowest level in more than eight years. Weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000, the Labor Department said Thursday. That’s the lowest reading since February …Read More
Billionaire Ken Griffin, the founder and CEO of Citadel LLC, a hedge fund and financial services firm based in Chicago, has filed for divorce from his wife, Anne Dias Griffin, a hedge-fund executive from France, according to a report in Crain’s Chicago Business.
Ultra-high-speed Internet access is back on the map for Chicago’s South Side, with a new large-scale launch now in the planning stages for the former U.S. Steel South Works site redevelopment at 87th Street and South Lake Shore Drive. The latest plan for a gigabit fiber-optic network — sending 1 billion bits of data per second as instant pulses of light up to 100 times the speed of today’s cable signals — would start construction within the next year if the site’s developer, McCaffery Interests, has its way.
General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles.
One of the country’s fastest-growing data-center operators will announce Wednesday it has bought the shuttered Chicago Sun-Times printing plant on the Southwest Side and will pour more than $200 million into developing and expanding it to house multiple companies’ computers.
The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies.
The European Union is giving Lithuania the green light to adopt the euro currency starting next year. Ministers from the 28-nation bloc on Wednesday cleared the final legal hurdle for Lithuania to become the 19th member of the currency zone encompassing some 330 million people.
Whirlpool Corp. on Wednesday reported net income that declined by 9.6 percent in its second quarter, and missed analysts’ expectations.
Regulators have voted by a narrow margin to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors. The idea is to minimize the risk of a mass withdrawal from the funds during a financial panic.
Chrysler is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could cause engine stalling.
Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless.
Harley-Davidson Inc. on Tuesday reported net income that climbed by 30 percent in its second quarter, and topped analysts’ expectations.
Comcast Corp.’s second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated.