Chicago Sun-Times

CHICAGO GRID: Sam Zell is here to remind you that the 1% don’t make enough money

Wed, 01 May 2013 14:04:24 -0500

Real estate kingpins Jerry Speyer and Sam Zell were lucky they had an elite audience for their joint appearance Tuesday at DLA Piper’s annual real estate conference in Chicago. A different group might have called them out for a few comments. Speyer, for example, assailed proposals to rein in CEO pay as an example of governmental fussiness that people can’t stand.

Intel taps insider to serve as its CEO

Thu, 02 May 2013 08:38:00 -0500

Intel has chosen its chief operating officer, Brian Krzanich, to become its new CEO. He’ll take over on May 16.

Starbucks makes management changes

Thu, 02 May 2013 08:38:00 -0500

Starbucks Corp. is making management changes it says will give its top leaders deeper experience with the company. The world’s biggest coffee chain declined to say whether the changes were part of succession planning for Howard Schultz.

Stocks open higher after GM, CBS earnings rise

Thu, 02 May 2013 08:57:20 -0500

Stocks are opening higher on Wall Street, a day after the market’s biggest fall in two weeks, after General Motors and other big companies announced higher profits.

GM profit falls 14%; Europe loss narrows

Thu, 02 May 2013 08:24:00 -0500

General Motors’ net income fell 14 percent in the first quarter, as it earned less money in North America while preparing to launch a redesigned version of its best-selling vehicle, the Silverado pickup.

US trade deficit falls to $38.8 billion in March

Thu, 02 May 2013 08:22:01 -0500

The U.S. trade deficit narrowed in March for a second month as the daily flow of imported crude oil dropped to the lowest level in 17 years. The deficit with China hit a three-year low.

ECB cuts benchmark interest rate to 0.5 percent

Thu, 02 May 2013 08:22:01 -0500

European Central Bank president Mario Draghi isn’t ruling out more central bank action to help the lagging eurozone economy — even after the bank cut its key benchmark to a historic low.

US jobless claims fall to 5-year low of 324K

Thu, 02 May 2013 08:16:01 -0500

The number of Americans seeking unemployment aid fell last week to seasonally adjusted 324,000, the lowest since January 2008. The drop points to fewer layoffs and possibly more hiring.

Ford adding 2,000 workers to Missouri plant

Thu, 02 May 2013 08:14:01 -0500

Ford Motor Co. said Thursday it’s adding 2,000 workers to the Missouri plant that makes the F-150 pickup because of surging U.S. truck demand.

US worker productivity rises 0.7%

Thu, 02 May 2013 08:14:01 -0500

U.S. worker productivity barely grew from January through March after shrinking in the final three months of 2012.

Judge orders 3-year sentence in GM theft case

Wed, 01 May 2013 15:08:00 -0500

DETROIT (AP) — A Detroit federal judge has ordered a three-year prison sentence for the husband of a former General Motors engineer who was convicted of stealing hybrid technology from the automaker.

Fed signals it could increase or decrease stimulus

Wed, 01 May 2013 13:16:01 -0500

WASHINGTON (AP) — The Federal Reserve on Wednesday stood by its extraordinary efforts to stimulate the economy. And it signaled that it could increase or decrease the pace of bond purchases depending on how the job market and inflation perform.

Report: Illinois coal enjoyed record exports in 2012

Wed, 01 May 2013 13:04:00 -0500

A new state report says Illinois coal, once shunned for its high sulfur content, is enjoying record demand overseas.

PepsiCo pulls Mountain Dew ad after criticism

Wed, 01 May 2013 12:28:48 -0500

PepsiCo pulled an online ad for Mountain Dew that was criticized for portraying racial stereotypes and making light of violence toward women.

US manufacturing grows in April at slower pace

Wed, 01 May 2013 12:52:10 -0500

U.S. factory activity expanded at a slower pace in April, held back by weaker hiring and less company stockpiling. The report is the latest to suggest economic growth has slowed this spring.

Hyatt Hotels sees profit drop

Wed, 01 May 2013 17:49:43 -0500

Hyatt Hotels Corp. said Wednesday that its first-quarter net income fell on rising costs and revenue that came in below Wall Street expectations.