Latest news from The Southtown Star Online en-us Wed, 28 Jul 2010 14:10:16 PDT Southtown Star logo 84 34 30 Copyright 2014 <![CDATA[ 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. ]]> Fri, 25 Jul 2014 16:01:25 -0500 <![CDATA[ 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. ]]> Fri, 25 Jul 2014 16:04:01 -0500 <![CDATA[ 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. ]]> Fri, 25 Jul 2014 08:55:41 -0500 <![CDATA[ Fast food workers prepare to escalate wage demands ]]> Lead story image

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. ]]> Fri, 25 Jul 2014 16:53:39 -0500 <![CDATA[ Orders for US durable goods up 0.7 percent in June ]]> Lead story image

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. ]]> Fri, 25 Jul 2014 08:00:00 -0500 <![CDATA[ US agency probes Hyundai Sonata air bag problem ]]> Lead story image

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. ]]> Fri, 25 Jul 2014 11:16:08 -0500 <![CDATA[ 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. ]]> Fri, 25 Jul 2014 07:58:00 -0500 <![CDATA[ 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 light of the scandal surrounding Shanghai Husi Food Co., owned by OSI Group of Aurora. Chinese authorities detained five Husi employees after a TV station reported last weekend that the company repackaged and sold meat past its use-by date. McDonald’s in Hong Kong said it used chicken from a Husi factory, but it wasn’t the … ]]> Thu, 24 Jul 2014 23:51:07 -0500 <![CDATA[ Proxy adviser says Sprint CEO was paid too much ]]> Lead story image

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 Softbank Corp. of Japan buying 70 percent of Sprint last year. That helped put his pay package above three times the median pay for a CEO of a comparable company, ISS says. Shareholders will vote on approving the executive pay package Aug. 6. The vote is only advisory, but boards take “no” votes seriously. Sprint, … ]]> Thu, 24 Jul 2014 18:49:35 -0500 <![CDATA[ Developer plans gigabit network at ex-U.S. Steel site on S. Side ]]>

Ultra-high-speed Internet access is back on the map for Chicago’s South Side, with a new large-scale launch now in the planning stages for the former U.S. Steel South Works site redevelopment at 87th Street and South Lake Shore Drive. The latest plan for a gigabit fiber-optic network — sending 1 billion bits of data per second as instant pulses of light up to 100 times the speed of today’s cable signals — would start construction within the next year if the site’s developer, McCaffery Interests, has its way. ]]> Thu, 24 Jul 2014 12:18:01 -0500 <![CDATA[ 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 2006, nearly two years before the Great Recession began. The four-week average, a less volatile measure, declined 7,250 to 302,000. Claims for jobless aid have been falling for the past three months. Recent reports have coincided with the temporary summer shutdowns of auto plants, yet the impact of those closures is addressed through seasonal adjustments. … ]]> Thu, 24 Jul 2014 11:14:01 -0500 <![CDATA[ Michelin moving into huge intermodal park in Will County ]]>

Tire-maker Michelin expects to move into a new, 1.7 million-square-foot distribution center in Wilmington next summer. Ridge Development broke ground this week on the project in the RidgePort Logistics Center, a 1,500-acre intermodal park about three miles south of the Interstate 55-Arsenal Road exit. RidgePort has space for 14 million square feet of industrial, warehouse and logistics buildings. Michelin, which has a smaller center in Monee, is the first major tenant at RidgePort. “As one of the largest U.S. distribution complexes when fully built out, this project should boost RidgePort to one of the most significant logistics parks in the … ]]> Thu, 24 Jul 2014 17:27:13 -0500 <![CDATA[ GM recalls another 718K cars, trucks ]]> Lead story image

General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles. ]]> Wed, 23 Jul 2014 13:22:48 -0500 <![CDATA[ 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. ]]> Wed, 23 Jul 2014 10:36:01 -0500 <![CDATA[ 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. ]]> Wed, 23 Jul 2014 08:18:00 -0500 <![CDATA[ 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. ]]> Wed, 23 Jul 2014 08:16:00 -0500