business

Worries about US consumers drag stocks lower

Investors got some bad news about the American shopper on Friday, driving down stocks and sending the Dow Jones industrial average to a loss for the week.

 

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Ford fires engineer who planted recording devices

A lawyer says a Ford Motor Co. engineer was fired after she placed listening devices in meeting rooms at its headquarters.

Molson Coors Brewing CEO to retire at year’s end

Molson Coors Brewing Co. president and CEO Peter S. Swinburn is retiring at year’s end. He’ll be succeeded by Mark R. Hunter, who serves as CEO and president of Molson Coors Europe.

Fast food workers prepare to escalate wage demands

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Fast food workers say they’re prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers are expected to discuss the future of the effort that has spread to dozens of cities in less than two years.

Orders for US durable goods up 0.7 percent in June

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Orders for long-lasting manufactured goods rebounded in June after a May decline, helped by a recovery in demand in a key category that signals business investment plans.

US agency probes Hyundai Sonata air bag problem

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U.S. safety regulators are investigating whether an electrical problem can knock out the air bags on some older Hyundai Sonatas. The probe announced Friday covers about 394,000 midsize cars from the 2006 through 2008 model years.

BSkyB to create multinational European TV network

London-based pay TV network BSkyB has agreed to take control of its sister companies in Italy and Germany, creating a multinational European broadcaster. The deal could have a wider impact on the media industry, giving Rupert Murdoch’s 21st Century Fox a cash boost to potentially revive its attempt to buy Time Warner.

Chicken off McDonald’s HK menu

McDonald’s restaurants in Hong Kong have taken chicken nuggets and chicken burgers off the menu after a mainland Chinese supplier was accused of selling expired meat. The Oak Brook-based fast-food chain said late Thursday that it “suspended relevant food ingredients” at Hong Kong outlets in …

Proxy adviser says Sprint CEO was paid too much

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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 …

US unemployment aid applications drop to 284,000

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 …

GM recalls another 718K cars, trucks

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General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles.

Former Sun-Times plant sold for $18M, will host data centers

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.

Lithuania to adopt euro currency in January

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 2Q profit falls 9.6 percent

Whirlpool Corp. on Wednesday reported net income that declined by 9.6 percent in its second quarter, and missed analysts’ expectations.

SEC votes to end $1 a share for some money funds

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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 recalls Jeep SUVs for ignition switches

Chrysler is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could cause engine stalling.