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Top News & Analysis Chicago

  • CHICAGO, Oct 11- Wal-Mart Stores Inc has raised salaries for entry-level managers before a rule change that extends mandatory overtime pay to more than 4 million U.S. workers, in an attempt to shield itself from unpredictable additional costs for salaried employees. Wal-Mart raised salaries from $47,476 to $48,500 annually for employees including store...

  • Facebook, which also owns Instagram, and Twitter shut off the account of Geofeedia, the Chicago- based data vendor that provided data to police, in response to the ACLU findings. The ACLU report found that as recently as July, Geofeedia touted its social media monitoring product as a tool to monitor protests. In a 2016 case study obtained by the ACLU, Geofeedia quoted...

  • CHICAGO, Oct 11- Coming off a taxing spree to rescue Chicago's ailing pension funds, Mayor Rahm Emanuel on Tuesday unveiled a fiscal 2017 budget that he said reflects the city's success at stabilizing its finances. "It is a budget free of an immediate pension crisis, free of the black cloud of insolvency threatening the retirements of city employees and the...

  • NEW YORK, Oct 11- U.S. Bonds also faced pressure from $56 billion of supply due this week, including $24 billion in three-year notes, $20 billion in 10- year notes and $12 billion in 30- year bonds. While the cash market was closed Monday, Treasury futures still traded on the Chicago Mercantile Exchange, and the 10- year future price slumped to its lowest since June on...

  • NEW YORK, Oct 11- U.S. Bonds also faced pressure from $56 billion of supply due this week, including $24 billion in three-year notes, $20 billion in 10- year notes and $12 billion in 30- year bonds. While the cash market was closed Monday, Treasury futures still traded on the Chicago Mercantile Exchange, and the 10- year future price slumped to its lowest since June on...

  • *Grain markets subdued a day before monthly USDA reports. At the Chicago Board of Trade as of 12:56 p.m. CDT, December corn was up 2-3/ 4 cents at $3.46 per bushel. December wheat was up 4 cents at $4.07-3/ 4 a bushel and November soybeans were up 3-1/ 2 cents at $9.58 a bushel.

  • Oct 11- Metals company Alcoa Inc, weeks away from splitting into two, on Tuesday reported a quarterly profit that missed estimates and lowered its revenue forecast for the unit serving the auto and aerospace sectors, sending shares down 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as...

  • Oct 11,- Citadel Securities LLC said on Tuesday it has hired Haddon Kirk, who has been head of exchange-traded funds trading for UBS AG's U.S. investment bank. Kirk is joining Citadel in a senior role focused on massive "block" trades of the funds, a company executive told Reuters. The Chicago- based company, run by Kenneth Griffin, is also known for its hedge fund.

  • Oct 11- Metals company Alcoa Inc on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but results missed expectations and its stock sank 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as aero industry teething problems," Alcoa Chief Executive...

  • Oct 11- Metals company Alcoa Inc on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but the results missed expectations and sent its stock sank nearly 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as aero industry teething problems," Alcoa Chief...

  • The New York- based company reported third-quarter net profit of $166 million, or 33 cents per share, up from $44 million, or 6 cents a year earlier. Analysts, on average, expected earnings per share for the quarter of 35 cents. In premarket trading, Alcoa shares were trading at $29.88, down more than 5 percent from Monday's official closing price of $31.51.

  • Oct 11- Metals company Alcoa Inc on Tuesday reported higher quarterly profit despite lower revenue, due to cost-cutting measures and lower income tax provisions. The New York- based company reported net profit for the third quarter of $166 million, or 33 cents per share, up from $44 million, or 6 cents a year earlier. Analysts, on average, expected earnings per share...

  • *Crop concerns prompt short covering in Chicago wheat. PARIS/ SINGAPORE, Oct 11- Chicago wheat edged higher on Tuesday, holding onto strong gains from the previous session as concerns over dryness in U.S. wheat growing regions helped underpin a market that has been laboring with hefty supplies. The Chicago Board of Trade most-active wheat contract was up 0.1...

  • *Algeria expects non- OPEC "commitments" in Istanbul talks. NEW YORK, Oct 10- Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non- OPEC producers. "Russia is ready to join the joint measures to cap production and is...

  • *Algeria expects non- OPEC "commitments" in Istanbul talks. NEW YORK, Oct 10- Oil prices jumped as much as 3 percent on Monday, with Brent hitting one-year highs, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non- OPEC producers. "Russia is ready to join the joint measures to cap production and is...

  • The need for hard-to-swallow tradeoffs stems from the dire state of the nation's third largest school district and a broader fiscal distress confronting Illinois and Chicago. The state, the city and the school district have all had their credit ratings cut to junk, or just above it, and a political stalemate in the state capital, Springfield, means Chicago Mayor...

  • *Market eyes USDA crop progress, supply/demand reports. PARIS/ SINGAPORE, Oct 10- Chicago wheat futures rose on Monday, snapping a two-session fall, as dry weather in some U.S. and European wheat belts stirred concern in a market that has been weighed down by the prospect of record global supplies this season. Chicago Board of Trade's most-active wheat contract...

  • The need for hard-to-swallow tradeoffs stems from the dire state of the nation's third largest school district and a broader fiscal distress confronting Illinois and Chicago. The state, the city and the school district have all had their credit ratings cut to junk, or just above it, and a political stalemate in the state capital, Springfield, means Chicago Mayor...

  • Oct 10- The fiscal health of Chicago's public school system, the nation's third largest, has deteriorated dramatically since its last major teachers' strike in 2012. A new strike would come at a time monetary help from the city and the state of Illinois is scarce. -Cash-flow problems have left Chicago Public Schools dependent on costly short-term borrowing, which...

  • *The most active wheat futures on the Chicago Board Of Trade rose 0.7 percent to $3.97-1/ 2 a bushel, having closed down 0.3 percent on Friday. *The U.S. Agriculture Department said on Friday morning that exporters reported the sale of 195,000 tonnes of soybeans to unknown buyers for delivery during the 2016/ 17 marketing year. *Oil prices fell more than 1 percent in...