Chicago Sun-Times Latest news from the Chicago Sun-Times Online en-us (Editor) Newspapers Chicago Sun-Times 84 34 30 Copyright 2014 <![CDATA[ Stocks eke out small gain to close at record ]]>

The stock market eked out another all-time high on Tuesday, but the gains were slight as investors awaited more news to give them an indication about the strength of the economy. ]]> Tue, 11 Nov 2014 15:42:46 -0600 <![CDATA[ Microsoft drops Nokia name with newest Lumia phone ]]> Lead story image

Microsoft has unveiled a cheaper smartphone, costing about $135, as it eyes emerging and other low-cost markets for growth. The new model also is the first Lumia smartphone under Microsoft’s own brand name. ]]> Tue, 11 Nov 2014 07:54:00 -0600 <![CDATA[ Hellmann’s owner sues over company’s use of ‘Mayo’ ]]>

The food company Unilever is suing a California company that uses the word “Mayo” in its sandwich spread name, saying that federal regulators and dictionaries define mayonnaise as a spread that contains eggs. ]]> Tue, 11 Nov 2014 13:59:29 -0600 <![CDATA[ Nucor plant in La. shut down after equipment failure ]]>

The Nucor Steel Louisiana plant has been shut down after an equipment failure at the Convent facility. ]]> Tue, 11 Nov 2014 10:25:37 -0600 <![CDATA[ US stocks climb to new highs; home builders gain ]]> Lead story image

For stocks on Monday, the path of least resistance was up. The Standard & Poor’s 500 index and the Dow Jones industrial average both edged up to all-time highs on a day that was light on economic news and company releases. ]]> Mon, 10 Nov 2014 15:24:59 -0600 <![CDATA[ GoPro to raise $800 million in stock offering ]]>

GoPro said Monday it plans raise an additional $800 million in a stock offering. In June, the sports camera maker raised $491 million from an initial public offering. ]]> Mon, 10 Nov 2014 08:50:00 -0600 <![CDATA[ Carnival Cruise Line gift cards available on shore ]]>

Carnival Cruise Line gift cards once were only available aboard one of the company’s ships. Now, prepaid cards are available at 9,000 stores nationwide. ]]> Mon, 10 Nov 2014 08:48:00 -0600 <![CDATA[ Dendreon files for bankruptcy protection ]]> Lead story image

Prostate cancer drug developer Dendreon is seeking Chapter 11 bankruptcy protection with a plan that leads to either a sale of the company or a takeover by its lenders. ]]> Mon, 10 Nov 2014 08:46:00 -0600 <![CDATA[ Beef costs eat into Wendy’s profit ]]>

The hamburger chain on Thursday reported a lower-than-expect profit for its third quarter, noting that beef costs were “much higher than our initial projections.” It also said it expects the “record high” costs to continue. ]]> Thu, 06 Nov 2014 10:05:10 -0600 <![CDATA[ Takata’s annual loss to widen over more recalls ]]> Lead story image

Takata Corp., the Japanese air bag maker embroiled in a massive recall totaling some 12 million vehicles globally, is taking more special losses for new recalls and will sink deeper into the red. ]]> Thu, 06 Nov 2014 08:40:00 -0600 <![CDATA[ Perrigo to buy Omega Pharma for $3.1 billion ]]>

Perrigo is expanding its reach into Europe through a $3.1 billion acquisition of one of the continent’s biggest suppliers of non-prescription medicines. ]]> Thu, 06 Nov 2014 08:38:00 -0600 <![CDATA[ European Central Bank ready to offer more stimulus if needed ]]>

European Central Bank head Mario Draghi opened the door for further stimulus on Thursday, saying the bank is preparing the technical groundwork for new support measures that it can deploy if needed. ]]> Thu, 06 Nov 2014 08:38:00 -0600 <![CDATA[ Obama pal Eric Whitaker stonewalls feds on sex question in grant-fraud case ]]> Lead story image

THE WATCHDOGS: Dr. Eric E. Whitaker, one of President Barack Obama’s closest friends, has refused to answer federal prosecutors’ questions about whether he had a “sexual relationship” with a former aide who has pleaded guilty to stealing taxpayers’ money, court records show. ]]> Fri, 07 Nov 2014 08:49:14 -0600 <![CDATA[ US stocks gain as the price of crude oil rebounds ]]>

Stocks returned to record levels on Wednesday as a rebound in oil prices boosted energy stocks. The stock market also gained after the completion of midterm elections that saw Republicans take control of the Senate. ]]> Wed, 05 Nov 2014 16:12:07 -0600 <![CDATA[ ECB to sit tight despite fragile economy ]]> Lead story image

The sobering economic news just keeps coming, yet the European Central Bank appears stuck in wait and see mode — held up by policy disputes and a desire to see whether recent stimulus measures are working. ]]> Wed, 05 Nov 2014 07:52:00 -0600