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Top News & Analysis Chicago

  • 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...

  • A person, not a machine, was probably ultimately the cause of the short-lived flash crash in the pound sterling.

  • CHICAGO, Oct 7- Smithfield Foods Inc will shutter a North Carolina hog processing facility, the world's largest, on Saturday to protect employees from Hurricane Matthew, a supplier said, as farmers braced for the storm's potential lashing. Matthew has fueled concerns about the safety of livestock and farm workers along the coast from Florida through Georgia...

  • A spokesman said flights had resumed in Miami on Friday morning as the storm moved north. Delta Air Lines Inc canceled 240 flights for Friday, and 80 for Saturday for northeastern Florida, coastal Georgia and South Carolina. Ports in Florida and up the coast, including Savannah, Georgia, and Charleston, South Carolina, also suspended operations.

  • CHICAGO, Oct 7- Chicago's recent enactment of a tax to save its biggest pension fund from insolvency won the city a stable outlook for its credit rating from S&P Global Ratings on Friday. While affirming a BBB-plus rating for Chicago's general obligation bonds, S&P revised the outlook to stable from negative. Credit ratings for the nation's third-largest city...

  • *Bankers put 10- cent fall in sterling down to algorithmic trading. LONDON, Oct 7- Sterling's short-lived 10- percent fall on Friday could not have happened without the lightning-fast computer-driven trading that now dominates the $5- trillion a day foreign exchange market. The Bank of England is still investigating the cause of the sudden price move.

  • CHICAGO, Oct 7- Chicago's recent enactment of a tax to save its biggest pension fund from insolvency won the city a stable outlook for its credit rating from S&P Global Ratings on Friday. While affirming a BBB-plus rating for Chicago's general obligation bonds, S&P revised the outlook to stable from negative. Credit ratings for the nation's third-largest city...

  • Delta Air Lines Inc canceled 240 flights for Friday, and roughly 80 for Saturday for northeastern Florida, coastal Georgia and South Carolina. Many of the additional cancellations affect Georgia and South Carolina. Ports in Florida and up the coast, including Savannah, Georgia, and Charleston, South Carolina, also suspended operations.

  • *Bankers put 10- cent fall in sterling down to algorithmic trading. LONDON, Oct 7- Sterling's short-lived 10- percent fall on Friday could not have happened without the lightning-fast computer-driven trading that now dominates the $5- trillion a day foreign exchange market. The Bank of England is still investigating the cause of the sudden price move.

  • *Bankers put 10- cent fall in sterling down to algorithmic trading. *Traders have warned for month of gaps in global FX market. LONDON, Oct 7- Sterling's short-lived 10- percent fall on Friday could not have happened without the lightning-fast computer-driven trading that now dominates the $5- trillion a day foreign exchange market.

  • Oct 7- Hurricane Matthew is threatening the Atlantic coast from Florida to South Carolina and could deliver tens of billions of dollars in damage, according to experts, after the storm killed 500 people and left thousands homeless in Haiti. CoreLogic, a California- based real estate data firm, estimated the storm could cause up to $189 billion in storm surge...

  • *Wall Street slips, Europe's STOXX index lower. NEW YORK, Oct 7- Sterling recouped much of its losses on Friday after a stunning plunge amid fears over Britain's exit from the European Union, while stocks in major markets fell after a weaker-than-expected U.S. jobs report still did not sway expectations for a U.S. rate hike by year-end. "I think it's a warning shot from...

  • CHICAGO, Oct 7- Disruptions to air travel, manufacturing, supply chains and retail stores spread on Friday as Hurricane Matthew worked its way up Florida's Atlantic coast, leaving people and goods stranded and plants idled. Delta Air Lines Inc said it had canceled 240 flights for Friday, and roughly 80 for Saturday for northeastern Florida, coastal Georgia and...

  • PARIS/ SINGAPORE, Oct 7- Chicago soybeans edged higher for a second day on Friday, with export demand supporting the price despite a record U.S. harvest. The Chicago Board Of Trade's most-active soybean contract was up 0.2 percent at $6.60-1/ 4 by 1235 GMT. "The soybean harvest is expanding but physical supplies are tight where the harvest progress has been slow,"...

  • ORLANDO, Fla./ MIAMI, Oct 7- The first major hurricane threatening a direct hit on the United States in more than 10 years lashed Florida on Friday with heavy rains and winds after killing at least 339 people in Haiti on its destructive march north through the Caribbean. The storm downed power lines and trees and destroyed billboards in Cape Canaveral, reported Jeff...

  • WINNIPEG/ CHICAGO, Oct 7- North America's wettest harvest in about five years is hiking farmers' costs as they dry crops to avoid spoilage and forcing them to take price discounts that are pinching incomes already under stress. One-fifth of the United States and Canadian crop belts were soaked by abnormally high precipitation during the last month, said Drew...

  • ORLANDO, Fla./ MIAMI, Oct 7- The first major hurricane threatening a direct hit on the United States in more than 10 years lashed Florida on Friday with heavy rains and winds after killing at least 339 people in Haiti on its destructive march north through the Caribbean. Hurricane Matthew packed gusts of 70 miles per hour and heavy downpours across coastal...

  • *Storm could hit Florida directly or brush coast. ORLANDO, Fla./ MIAMI, Oct 7- The first major hurricane threatening a direct hit on the United States in more than 10 years lashed Florida on Friday with heavy rains and winds after killing at least 339 people in Haiti on its destructive march north through the Caribbean. Hurricane Matthew was packing gusts of 70 miles...