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Top News & Analysis Chicago

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  • CHICAGO— President Barack Obama's foundation has started the process of choosing an architect to design his presidential library. The foundation said Wednesday it has invited firms to submit their qualifications to design the Obama Presidential Center, which will be located in one of two sites on Chicago's South Side. Foundation Chairman Martin Nesbitt...

  • Airfare deals pop up as airlines wage limited fare wars Wednesday, 26 Aug 2015 | 12:46 PM ET

    Don't expect widespread sales or cheap flights home for Thanksgiving. Fliers have been able to fly Chicago to Boston for $80 roundtrip, San Francisco to Las Vegas for $67 roundtrip and New York to Los Angeles, with a connection, for $150 roundtrip. "This is the big break consumers have been waiting for in response to lower fuel prices," says Seth Kaplan, managing...

  • WASHINGTON, Aug 26- A gauge of U.S. business investment plans recorded its largest increase in just over a year in July, suggesting the United States was in good shape to withstand growing strains in the global economy. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending...

  • Growing US economy causing traffic woes Wednesday, 26 Aug 2015 | 12:01 PM ET

    Los Angeles, San Francisco and New York come next on the list of urban areas with the longest delays. Overall, American motorists are stuck in traffic about 5 percent more than they were in 2007, the pre-recession peak, says the report from the Texas A&M Transportation Institute and INRIX Inc., which analyzes traffic data. Rounding out the Top 10 worst commuting...

  • Grain lower and livestock lower Wednesday, 26 Aug 2015 | 10:28 AM ET

    CHICAGO— Grain futures were mostly lower in early trading Wednesday on the Chicago Board of Trade. Wheat for December delivery lost 2.50 cents to $4.97 a bushel; December corn was 1.25 cents lower at $3.7820 a bushel; December oats were 2 cents lower at 2.1720 a bushel; while November soybeans lost 2.25 cents to 8.7540 a bushel. October live cattle was. 33 cent lower...

  • US stocks surge, snapping 6-day losing streak Wednesday, 26 Aug 2015 | 12:57 AM ET

    While the surge came as a relief to many, Wall Street professionals warned that more rough days lie ahead, in part because of weakness in China, where signs of an economic slowdown triggered the sell-off that has shaken global markets over the past week. The Dow lost about 1,900 points over that period, and more than $2 trillion in corporate value was wiped out.

  • NEW YORK— Republican presidential candidate Donald Trump repeated his claim Tuesday evening that he would stop eating Oreos, citing the cookie maker's decision to close a plant in Chicago and move it to Mexico. Oreo's parent company Mondelez International Inc. said last month that it decided to invest $130 million in building four new production lines at a...

  • *Wall Street falls in late selloff. *Relief from China cut in rates, reserve requirements temporary. NEW YORK, Aug 25- U.S. stocks ended down on Tuesday after sharply reversing early gains late in the session as investors were unconvinced China's move to cut to interest rates and banks' reserve requirements could ease global growth concerns.

  • *China cuts interest rate for second time in two months. Aug 25- A strong rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China's economy outweighed lower valuations that some saw earlier as bargains. Investors cited more worries that a slowdown in China could hobble global growth, even after the country's central...

  • Airbnb to start collecting taxes in Paris Tuesday, 25 Aug 2015 | 3:23 PM ET

    Aug 25- Online home-rental marketplace Airbnb Inc said on Tuesday it would begin collecting and remitting tourist taxes from guests on behalf of rental apartments in Paris. Airbnb, whose most popular city is Paris with more than 50,000 listings, said it would collect 0.83 euro per person per night for reservations made in Paris on or after Oct. 1.

  • US STOCKS-Wall Street's sharp rally loses its edge Tuesday, 25 Aug 2015 | 3:12 PM ET

    *China cuts interest rate for second time in two months. *Apple up 5.1 pct, Best Buy jumps 15.48 pct. Investors drove prices sharply higher from the opening bell but caution set in by the afternoon due to lingering concerns that a slowdown in China could hobble global growth, even after the country's central bank cut interest rates on Tuesday for the second time in...

  • A federal appeals court has upheld a settlement in which Southwest Airlines passengers got free drink vouchers but lawyers who sued the airline got $1.65 million in cash. Southwest includes a drink coupon when passengers buy a higher-priced Business Select ticket. Southwest settled in 2013, with two lead passengers getting $15,000 each and the lawyers...

  • *Market rebounds on cut in China rates, reserve requirements. NEW YORK, Aug 25- Markets rebounded on Tuesday with world stocks, oil prices and bond yields all rising after China cut interest rates and banks' reserve requirements in a bid to kick-start its wavering economic growth. The dollar turned around Tuesday to rise 1.2 percent against a basket of major...

  • *China cuts interest rate for second time in two months. Investors snapped up beaten-down stocks from the opening bell but caution set in by early afternoon amid lingering concerns that a slowdown in China could hobble global growth. "They are trying to figure out what the slowdown in China means to the global economy," he said.

  • DC regulators reject proposed merger of Exelon, Pepco Tuesday, 25 Aug 2015 | 12:34 PM ET

    WASHINGTON— Regulators in the District of Columbia rejected the proposed merger of power companies Exelon and Pepco on Tuesday, saying the deal would not benefit ratepayers. Chicago- based Exelon announced in April of 2014 that it was buying Washington, D.C.- based Pepco Holdings Inc. for $6.8 billion. "We found no benefit to District ratepayers in a new...

  • BP restarts part of Indiana oil refinery after repairs Tuesday, 25 Aug 2015 | 12:02 PM ET

    SOUTH BEND, Ind.— A large Indiana oil refinery whose unplanned shutdown for repairs earlier this month caused gasoline prices in the Great Lakes region to spike restarted Tuesday, leading experts to predict a quick drop in prices. AAA Hoosier Motor Club reports gas prices hit a high of $2.976 in Indiana for self-serve regular unleaded on Aug. 16 in Indiana.

  • *USDA corn, soybean conditions match expectations. WINNIPEG, Manitoba, Aug 25- U.S. soybeans rebounded on Tuesday off a more than six-year low, helped by China's decision to cut interest rates, although fears of a cooling economy in the world's largest buyer of the oilseed kept gains in check. Bargain buying and a bounce in other commodities, such as crude oil, nudged...

  • Grain higher, livestock higher Tuesday, 25 Aug 2015 | 10:27 AM ET

    CHICAGO— Grain futures were higher in early trading Tuesday on the Chicago Board of Trade. Wheat for December delivery gained 2.50 cent to $5.1040 a bushel; December corn was. 50 cent higher at $3.8120 a bushel; December oats was 2.50 cents higher at 2.2340 a bushel; while November soybeans gained 5.50 cents to 8.7960 a bushel. October live cattle was. 20 cent higher...

  • *Best Buy to sell Apple Watch in 900 stores starting Sept. 4. Aug 25- Best Buy Co Inc, the biggest U.S. electronics chain, reported an unexpected increase in quarterly sales and said it expected consumer spending to remain strong this quarter, sending its shares up nearly 15 percent. Chief Financial Officer Sharon McCollam said the financial markets' recent...

  • US home prices rise steadily in June as sales pick up Tuesday, 25 Aug 2015 | 9:06 AM ET

    Prices rose 10.2 percent in Denver, 9.5 percent in San Francisco and 8.2 percent in Dallas. Chicago posted the smallest gain, just 1.4 percent. The National Association of Realtors said last week that sales of existing homes rose 2 percent in July to a seasonally adjusted annual rate of 5.59 million, the fastest pace since February 2007.