business
They’re thinking outside the box
Two Columbia College students are realizing their creative dreams: They will be featured as designers on the box of a game they created for “Marbles: The Brain Store,” a Chicago-based retailer that has thrived despite the slow economy by selling products intended to keep people’s …Read More
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The Curious Investor: Earnings fade, but market may not care
Filter out the noise from the current onslaught of corporate earnings reports and you are left with something not terribly encouraging, like the sound of one hand clapping. Just when investors could use a little clarity about the strength of profits this year and how …Read More
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Outrage as Twitter allows censorship
Twitter, a tool of choice for dissidents and activists around the world, found itself the target of global outrage Friday after unveiling plans to allow country-specific censorship of tweets that might break local laws. It was a stunning role reversal for a youthful company that …Read More
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Report: Facebook IPO filing could come next week
Facebook could file regulatory papers as early as Wednesday for its highly anticipated initial public offering of stock, according to a Wall Street Journal report. The newspaper said Friday that the company could raise as much as $10 billion in the offering.
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Fitch downgrades credit ratings for 5 EU nations
U.S. ratings agency Fitch says it is downgrading the credit ratings for five European nations. The agency on Friday lowered credit ratings by one notch and placed a negative outlook on all of them, as well as on Ireland. Those nations downgraded included Belgium, Cyprus, Italy, Slovenia and Spain.
North America boosts Ford in 4Q
Ford Motor Co. reported $13.6 billion in net income in the fourth quarter Friday. Its North American profit rose 15 percent to $6.2 billion for the full year, and based on those results, it will make profit-sharing payments of around $6,200 each to its 41,600 U.S. hourly employees.
Beam increases dividend by 6 cents to 82 cents
Bourbon maker Beam Inc. said Friday it would increase its annual dividend by 6 cents to 82 cents. The first quarterly dividend of 20.5 cents is payable on March 1 to shareholders of record as of Feb. 8.
Private sector unions add members
Union membership grew slightly last year, giving union leaders hope that a period of steep declines has finally bottomed out. The Bureau of Labor Statistics says the number of unionized workers grew by about 50,000 in 2011 to nearly 14.8 million members.
Dow closes down after U.S. economic growth disappoints
Stocks are closing mostly lower on news that the U.S. grew at a slower pace than expected in the fourth quarter. The Dow fell 74 points, or 0.6 percent, to 12,660. The S&P 500 fell 2 to 1,316. The Nasdaq composite edged up 11 to 2,817.
Economy grew modest 2.8 pct. in Q4, best in 2011
The U.S. economy grew at a 2.8 percent annual rate in the final three months of last year, the fastest growth in 2011. Americans spent more on cars and trucks, and companies restocked their shelves at the strongest pace in nearly two years.
Costa offers $14,460 per person for ruined cruise
Costa Crociere Spa offered uninjured passengers (euro) 11,000 ($14,460) apiece Friday to compensate them for lost baggage and the psychological trauma they suffered after their cruise ship ran aground and capsized off Tuscany. But some passengers are already refusing to accept the deal, saying they …
Chicago area unemployment rate rises to 9.3 percent
The unemployment rate in the Chicago metropolitan area rose to 9.3 percent in December from 8.6 percent a year earlier. But it fell from 9.8 percent in November, the Illinois Department of Employment Security said Thursday.
Illinois tops nation in wind energy
Despite skepticism about the viability of solar-component and electric-car battery companies that have gone bankrupt recently, Illinois is proving that firms can create jobs and help the environment with wind turbines and wind farms, alternative-power advocates said Thursday.
Hostess asks judge to slash union obligations
NEW YORK (AP) — Hostess Brands Inc., the maker of Wonder Bread and Twinkies that filed for bankruptcy reorganization earlier this month, has asked a judge to slash some of its commitments to union employees, saying it’s the only way it can emerge as a …
Taco Bell launches breakfast menu in 14 states
Yo quiero Taco Bell breakfast burrito! The Mexican-style fast-food chain that’s best remembered for a 1990s ad in which a Chihuahua proclaimed “I want Taco Bell” in Spanish, introduced a breakfast menu Thursday at nearly 800 restaurants in 14 states.
United Continental posts narrower loss
The parent company of United and Continental airlines posted a narrower fourth-quarter loss. United Continental Holdings Inc. said Thursday that it lost $138 million, or 42 cents per share, compared with a loss of $325 million, or $1.01, a year earlier.
