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Associated Press News

Durata Therapeutics expects $46 million from stock offering

(AP) — Durata Therapeutics Inc. said Friday it expects to raise about $46.3 million through a new stock offering.

Sara Lee coffee spinoff agrees to buyout

(AP) — The management of Dutch coffee maker D.E. Master Blenders 1753 N.V. says it has agreed to a $9.8 billion buyout offer from a group led by private German investment company Joh. A. Benckiser GmbH.

Updated

O'Hare worst airport for on-time departures

(AP) — Airlines are struggling this year to get planes to the gate on time.

Fewer Illinoisans get health insurance at work

While the cost of coverage climbs, just 62 percent of non-elderly state residents had insurance through their jobs in 2011, down from 74 percent in 2000.

Goat's head delivered to Wrigley Field

(AP) — The box was addressed to team chairman Tom Ricketts, who's negotiating with city officials and neighborhood business people about the $300 million renovation of the ballpark.

'Horrific news for PCs' as sales fall

(AP) — The ailing personal computer market is getting weaker, and it's starting to look as if it will never fully recover as a new generation of mobile devices reshapes the way people use technology.

U.S. jobless claims drop sharply last week

(AP) — The number of Americans seeking U.S. unemployment benefits fell sharply last week.

2 U.S. senators reach deal on background checks

(AP) — Two pivotal senators announced a bipartisan deal today on expanding background checks to more gun buyers, an agreement that could build support for President Barack Obama's drive to curb firearms violence.

Robin Kelly easily wins former Jackson seat in Congress

(AP) — The win was widely expected for the former state representative, who focused heavily on anti-gun efforts and was helped by ads from Michael Bloomberg's super PAC.

Dow reaches another record, driven by commodities

(AP) — The Dow Jones industrial average is closing at another record high, driven by a surge in materials companies.

Updated

Nationwide, companies post more jobs but fill them slowly

(AP) — U.S. employers advertised the most job openings in nearly five years in February, but boosted hiring at a much slower pace. The figures suggest firms remain too cautious about the economy to quickly fill open jobs.

OfficeMax, Office Depot form CEO search panel

(AP) — Office Depot Inc. and OfficeMax Inc. said Tuesday they have formed a CEO search committee and received a request for more information from the Federal Trade Communication about their planned merger.

JC Penney shares jump on report CEO Johnson is out

(AP) — The department store's chief executive Ron Johnson is leaving, and Mike Ullman has been named CEO.

Quinn: 'Very close' to votes to pass gay marriage

(AP) — Gov. Pat Quinn says he's confident same-sex marriage will become law in Illinois.

Boeing 787s on United Airlines' schedule for May 31

(AP) — The Chicago-based airline has Boeing's 787 back in the flight schedule, even though the plane is still grounded by government authorities.

United finishes last in 2012 airline quality report

(AP) — The carrier says the ranking doesn't reflect its experience over the past six months.

FAA delays closing of airport control towers

(AP) — The closings of control towers at 149 small airports, due to begin this weekend because of government-wide spending cuts, are being delayed until June 15, federal regulators announced Friday.

Updated 9:40 a.m.

U.S. unemployment dips, but hiring weak

(AP) — The economy added just 88,000 jobs in March, the fewest in nine months.

Walgreen clinics expand care into chronic illness

(AP) — Most of the drugstore chain's 370 in-store Take Care Clinics now will diagnose, treat and monitor patients with some conditions typically handled by doctors.

Fermilab facing $36 million in budget cuts

The Fermi National Accelerator Laboratory in Batavia is preparing for a 9 percent budget cut.

U.S. economy grows 0.4 percent rate: slightly faster, still anemic

The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending.

U.S. jobless claims jump 16,000 to 357,000

The number of Americans seeking unemployment benefits jumped by 16,000 last week, the second straight weekly increase. But the longer-term trend in layoffs remained consistent with an improved job market.

High court struggles over generic drug delay deals

(AP) — In a case involving AbbVie, Supreme Court justices appeared troubled Monday over whether to stop deals between pharmaceutical firms and their generic rivals that the government says could keep cheaper forms of medicine from American consumers for longer periods of time.

Updated

U.S. Supreme Court signals uncertainty on drug settlements

In a case involving a unit of AbbVie, federal regulators argue big pharmaceutical firms should stop paying generic rivals to delay releasing cheaper versions of brand-name drugs.

U.S. Senate Dems vote to repeal part of health care law

(AP) — It isn't every day that more than half the Democrats in the Senate vote to repeal part of President Barack Obama's health care law.

Updated 12:25 p.m.

Investigators scold Boeing over 787 comments

(AP) — Boeing's comments about the smoldering batteries on its 787 have annoyed the National Transportation Safety Board.

Illinois unemployment jumps as more join job search

(AP) — A state official says recent job growth appears to have given unemployed people who had given up job searches reason to head back out again.

Updated 1:32 p.m.

Sears' dollar general

(AP) — Sears Holdings Corp. signed a contract with Edward Lampert to keep him on as CEO of the company at a salary of $1 per year.

Analyst: FDA unlikely to OK Abbott heart valve system in near term

(AP) — A medical device industry analyst says Abbott Laboratories is unlikely to win approval anytime soon for its device used to repair heart valve problems, following a tepid endorsement by government experts.

Average for U.S. jobless claims hits new 5-year low

(AP) — The number of people seeking U.S. unemployment aid barely changed last week, and the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.

Baxter closes deal for potential hemophilia drug

(AP) — OBI-1 is being studied as a possible treatment for people with acquired hemophilia A.

Stocks close near all-time high as Fed stands by stimulus

(AP) — The central bank said the U.S. economy has strengthened after pausing late last year, but still needs support.

Senate passes Cullerton's pension plan on 2nd try

(AP) — The Illinois Senate has approved on a second vote Senate President John Cullerton's proposal overhauling teacher pensions.

Homicides down, police overtime way up in Chicago

(AP) — The latest "Violence Reduction Initiative" raises concerns about whether the policy is sustainable for the financially struggling city and whether it could further strain officers working long hours at a stressful and dangerous job.

MF Global, J.P. Morgan in settlement deal

(AP) — J.P. Morgan Chase & Co. has agreed to a deal that will return $546 million to former customers of trading firm MF Global Holdings Ltd., which collapsed in 2011 with $1.6 billion missing from its accounts.

Updated 10:25 a.m.

Walgreen earnings rise 11 percent, boosting shares

(AP) — Fiscal second-quarter earnings were helped by contributions from European health and beauty retailer Alliance Boots, a business sale gain and the chain's new contract with Express Scripts Holding Co.

U.S. housing starts rise while permits hit 4½-year high

(AP) — U.S. builders started more houses and apartments in February, while requesting permits for future construction at the fastest pace in 4½ years. The increases point to a housing recovery that is gaining strength.

Walgreen expands deal with drug wholesaler

(AP) — The drug store giant's supply agreement with AmerisourceBergen becomes a 10-year deal that gives Walgreen an ownership stake in the pharmaceutical wholesaler.

Boeing gets big order from budget airline Ryanair

(AP) — The Ireland-based airline said it would buy 175 of the planemaker's 737-800s.

Gov. Quinn says improvement needed with Lottery's manager

(AP) — Gov. Pat Quinn says there's need for improvement after the private manager of the Illinois Lottery fell short of promised profits.

Ulta plans to buy back up to $150 million in shares

(AP) — Ulta Salon, Cosmetics & Fragrance Inc. plans to buy back up to $150 million of its common stock, the company said Monday.

Gas spike drives up U.S. consumer prices

(AP) — A spike in gas prices drove a measure of U.S. consumer costs up in February by the most in more than three years. But outside the gain in fuel costs, inflation was mostly modest.

Updated 12:26 p.m.

Ulta stock plummets after analyst cuts target

(AP) — Stock in Ulta Salon, Cosmetics & Fragrance Inc. plummeted today after an analyst lowered his price target for the company, citing its weaker-than-expected first-quarter forecast.

Governor's brother fired as Fenwick basketball coach

(AP) — Gov. Pat Quinn says the administration of his suburban Chicago high school has let down students and alumni by firing his brother, who was a longtime basketball coach.

Unemployment in Chicago rises to 9.9%

(AP) — Six other metro areas also saw the jobless rate jump, according to a monthly state report.

Health Care Service Corp. agrees to pay more for Montana Blues

(AP) — The agreement also calls for Health Care Service Corp. to open a new 100-employee call center in the state.

Illinois Speaker Madigan supports fracking moratorium

(AP) — Illinois House Speaker Michael Madigan says he supports a moratorium on hydraulic fracturing over legislation calling for regulations on the practice.

U.S. retail sales post biggest rise in 5 months

(AP) — Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January.

Mondelez OKs $1.2 billion in stock buybacks

(AP) — Mondelez International Inc., the maker of Oreo cookies and other snack brands, said Wednesday that its board authorized stock buybacks that could total $1.2 billion.

Air and Water Show a victim of federal budget snarls

(AP) — One of Chicago's summer events highlights will lose two of its star attractions this year because of federal budget cuts.

Golfer survives fall into Illinois course sinkhole

(AP) — Mark Mihal was having good opening day on the links when he noticed an unusual depression on the fairway of the 14th hole at Annbriar Golf Club in southern Illinois.

FAA OKs Boeing plan to fix 787 batteries

(AP) — The agency has approved Boeing's plan to fix the fire-prone batteries on its 787 Dreamliner, but says more testing is still needed.

Illinois business decries Quinn's tax loophole plan

(AP) — Gov. Pat Quinn's latest plan to pay off the state's monstrous bill backlog is targeting income tax incentives that benefit Illinois corporations.

Illinois GOP backs off attempt to oust chairman

(AP) — The party's central committee backed off efforts to fire Chairman Pat Brady, who supports gay marriage, amid concerns the move could damage GOP appeal to more moderate voters.

Updated 2:20 p.m.

Navistar rises as analyst ups rating, price target

(AP) — Shares climbed more than 11 percent Friday as an analyst upgraded the truck and engine maker and nearly doubled its price target on the progress the business is making on turnaround plans.

U.S. unemployment falls to 4-year low

(AP) — A burst of hiring last month added 236,000 U.S. jobs and cut the jobless rate to 7.7 percent. The gains suggest the economy can strengthen further despite higher taxes and government spending cuts.

Updated 11:20 a.m.

Navistar names exec new CEO; stock soars

(AP) — The truck and engine maker, in the midst of a turnaround, on Thursday promoted President and Chief Operating Officer Troy Clarke, left, to CEO.

Illinois unemployment rate rises in January

(AP) — Illinois' unemployment rate rose to 9 percent in January, the state said today.

Microsoft fined $733 million by EU

(AP) — The European Union has fined Microsoft €561 million ($733 million) for breaking a pledge to offer personal computer users a choice of Internet browsers when they install the company's flagship Windows operating system.

Boeing hits new high, helped by Dow surge

(AP) — The Chicago-based aerospace and defense giant and more than 100 other companies rose to annual, multiyear or all-time highs Tuesday.

Date from ndlookup:20130517

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Previous Day | May 17, 2013
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5 = Chicago Daily News Headlines for May 1, 2013 - Crain's Chicago Business