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Top News & Analysis Chicago

  • SYDNEY, Dec 8- U.S. wheat futures edged higher on Thursday, rebounding from a five-day low touched in the previous session, although ample global supplies put a ceiling on gains. *The most active wheat futures on the Chicago Board Of Trade rose 0.5 percent to $4.03 a bushel, having closed down 1.4 percent on Wednesday when prices fell to a low of $3.99-1/ 2 a bushel- the...

  • MEXICO CITY/ CHICAGO, Dec 7- Retailer Wal-Mart de Mexico said on Wednesday it will invest $1.3 billion in logistics in Latin America's No. 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump. The investment in Mexico will not result in any jobs being moved from the United States, Wal-Mart...

  • CHICAGO, Dec 7- The Chicago Board of Education on Wednesday approved a revised fiscal 2017 budget that accommodates a new teachers' contract, but contains a $215 million funding gap for pensions. The spending plan for the fiscal year that began on July 1 was increased by $55 million to $5.5 billion to reflect an additional contribution of surplus tax increment...

  • BEIJING/ NEW YORK, Dec 7- President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second largest economy with tough talk on trade and a telephone call with the leader of Taiwan. Branstad has visited China at least six times, and Chinese...

  • *S&P, Dow close at records as indexes rise over 1 pct. NEW YORK, Dec 7- Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the election of Donald Trump as U.S. president, and a new high for transportation stocks added to the bullish tone. "I think it's continuation of the view that the...

  • *Oil dips on U.S. inventory date, doubts on impact of OPEC deal. NEW YORK, Dec 7- U.S. stocks jumped to record levels and bond prices climbed on Wednesday as investors prepared for the European Central Bank to signal an extension of its bond-buying at its Thursday meeting. "The market does not have a lot of clarity on what the ECB would do tomorrow," said Jeffery Elswick,...

  • SAN FRANCISCO, Dec 7- Donald Trump's planned tax cuts and regulatory rollbacks will propel the world's biggest economy out of its slow-growth doldrums, economists sympathetic to the U.S. president-elect's policies say. They were among a group of 305 economists who signed a letter criticizing Hillary Clinton's economic policies ahead of the November...

  • *Oil dips on U.S. inventory date, doubts on impact of OPEC deal. NEW YORK, Dec 7- U.S. stocks rose along with bond prices on Wednesday as investors prepared for the European Central Bank to signal an extension of its bond-buying at its Thursday meeting. "There's a little bit of a bond market rally going on certainly in the long end so that means dividend stocks feel better,"...

  • Dec 7- Wall Street surged on Wednesday, with the S&P 500 and Dow hitting fresh record intraday highs, as equities continued their march upward after the presidential election of Donald Trump, even as his comments on prescription drug pricing wounded the healthcare sector. The Dow Jones Transport Average, closely watched as a barometer of the broader market, hit a...

  • NEW YORK, Dec 7- Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Brent futures fell 93 cents, or 1.7 percent, to settle at $53.00 a barrel, while U.S. crude lost $1.16, or 2.3 percent, to settle at...

  • Dec 7- Fast-food franchise Jimmy John's has agreed not to enforce a prohibition on workers at its sandwich shops from taking jobs with competitors in order to settle a lawsuit claiming the agreements were illegal, the attorney general of Illinois said on Wednesday. Madigan, who sued the company in June, said Jimmy John's would notify current and former...

  • *Wheat falls on hefty crop estimates for Canada, Australia. As of 12:35 p.m. CST, Chicago Board of Trade wheat for March delivery was down 6 cents at $4.00-3/ 4 per bushel. March corn was down 3-1/ 4 cents at $3.57-1/ 4 a bushel and January soybeans were down 3/ 4 cent at $10.47 a bushel.

  • Dec 7- Fast-food franchise Jimmy John's has agreed not to enforce a prohibition on workers at its sandwich shops from taking jobs with competitors in order to settle a lawsuit claiming the agreements were illegal, the attorney general of Illinois said on Wednesday. Madigan, who sued the company in June, said Jimmy John's would notify current and former...

  • NEW YORK, Dec 7- The U.S. Commodity and Exchange Commission faced tough questions from a federal judge on Wednesday over whether the agency could support its claims that a Chicago trading firm and its founder had manipulated the price of a futures contract. During closing arguments in the non-jury trial in Manhattan federal court, CFTC lawyer Traci Rodriguez...

  • BEIJING/ NEW YORK, Dec 7- President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second largest economy with tough talk on trade and a telephone call with the leader of Taiwan. It also suggests that Trump may be ready to take a less combative...

  • LOS ANGELES/ NEW YORK, Dec 6- Starbucks Corp Chief Executive and co-founder Howard Schultz's plan to build a new prestige brand is a bet that moving upscale can raise the profile of the world's largest coffee brand with millennials like Megan Sauers. "Starbucks is the millennials' parents' coffee house and Starbucks is acutely aware of that," said Ric Rhinehart,...

  • CIBC, Canada's fifth biggest lender, said in June it planned to buy Chicago- based PrivateBancorp in a $3.8 billion cash-and-share deal, its biggest ever acquisition. Major Canadian banks are looking for growth in the United States to offset sluggish activity in their domestic market. However, some PrivateBancorp shareholders have argued in recent weeks the...

  • NEW YORK, Dec 7- Oil prices slipped on Wednesday ahead of a U.S. petroleum inventory report and on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. The U.S. Energy Information Administration will release crude data for the week ended Dec. 2 at 10:30 a.m. EST on...

  • PARIS/ SINGAPORE, Dec 7- Chicago corn futures edged lower on Wednesday with prices falling after three days of gains on expectations of bumper production in Brazil early next year while wheat continued to come under pressure from ample global supplies. "Dryness in Argentina is a concern, but excellent conditions in Brazil may dampen the impetus to push prices...

  • SINGAPORE, Dec 7- Chicago corn futures edged lower on Wednesday with prices falling after three days of gains on expectations of bumper production in Brazil early next year. "Dryness in Argentina is a concern, but excellent conditions in Brazil may dampen the impetus to push prices higher," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank...