Lagunitas Brewing cut the ribbon on a 300,000-square-foot brew house and tap room in Chicago's Douglas Park neighborhood.» Read More
The bank, which operated three branches, had about $72.9 million in assets and $71 million in deposits as of March 31. The FDIC said that Providence Bank also agreed to buy roughly $67.7 million of GreenChoice Bank's assets. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession.
A war breaks out between Israel and Hamas. An airliner is shot out of the sky in Ukraine. That helped the market overcome its latest dip, on July 17th, when a passenger jet was shot down in eastern Ukraine and Israel invaded the Gaza Strip, raising investor worries that conflicts around the world could escalate and destabilize financial markets.
Tyson outbid Pilgrim's Pride Corp with its $63 per share offer for Hillshire, valuing the Jimmy Dean sausages maker at $8.55 billion. The Cherokee plant will close on Sep. 27, while the Buffalo and Santa Teresa plants are expected to stop operating in the first half of 2015, the company said.
July 25- Detroit released a revised debt adjustment plan on Friday that details the role of a post-bankruptcy monitor and sets up a reserve fund to possibly enhance recoveries for certain creditors.
NEW YORK, July 25- Brent oil prices reversed early losses to climb more than $1 a barrel on Friday, as fighting in Ukraine and deteriorating relations between Russia and the United States ignited new fears of supply disruptions in the market.
"We continue to get strong economic releases out of the United States," said Richard Scalone, co-head of foreign exchange at TJM Brokerage in Chicago. Analysts said the weak German business sentiment underscored the impact of tensions surrounding Russia and Ukraine on Germany, Europe's biggest economy.
*Russia says Washington is disseminating "unfounded" accusations over Ukraine. *Russia says Ukraine shelled across the border to kill law enforcement officers.
NEW YORK, July 25- Investors worldwide pulled $5 billion out of stock funds in the week ended July 23 after geopolitical tensions triggered fears of a pullback in global stock indexes, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
CHICAGO— Grain futures were mosly higher Friday on the Chicago Board of Trade. Wheat for Sept delivery was 9.25 cents higher at $5.38 a bushel; Sept corn was 1.50 cents higher at 3.63 a bushel; Dec oats were 6.50 cents higher at $3.325 a bushel; while Nov soybeans were 1.25 cents lower at $10.835 a bushel.
DUESSELDORF, Germany, July 25- Uber, whose smartphone app summons rides at the touch of a button, won a new lease of life in the German city of Hamburg on Friday when a court suspended a ban imposed by local regulators.
LOS ANGELES— Writer-producer Sam Shaw was grappling with how to craft a TV drama about the war on terror and the price it exacts from those who keep its secrets. The drama is set in a makeshift, desolate Southwestern desert community, one of several that sprang up as part of the Manhattan Project aiming to beat Nazi Germany to the bomb.
CHICAGO— 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 will discuss the future of the effort that has spread to dozens of cities in less than two years.
FOX LAKE, Ill., July 25- The news about deadly crashes linked to a faulty ignition switch, followed by wave upon wave of recalls, did not bode well for General Motors dealers earlier this year. It conjured visions of worried, frustrated drivers pouring onto lots like Raymond Chevrolet, outside of Chicago.
July 25- U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession.
July 24- A Chicago federal judge has refused to overturn the conviction of Eric Bloom, the former chief executive of money management firm Sentinel Management Group Inc, for defrauding customers out of more than $500 million. District Judge Ronald Guzmán said the jury "clearly" had enough evidence to find that Bloom intended to cheat customers.
NEW YORK, July 24- Oil futures prices fell on Thursday, as unseasonably weak demand and plentiful supplies of crude and refined products offset strong Chinese factory data that could boost energy demand in the world's No. 2 oil consumer.
*D.R. Horton shares down 10 pct, PulteGroup down 3 pct. July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, said it had to offer discounts in the third quarter to boost sales in Chicago, a particularly bleak spot in a weak U.S. housing market.
CHICAGO— Grain futures were mixed Thursday in early trading on the Chicago Board of Trade. Wheat for Sept delivery was unchanged at $5.3075 a bushel; Sept corn was 4.5 cents lower at $3.58 a bushel; Dec oats were unchanged at $3.2425 a bushel; while Nov soybeans were 8.5 cents higher at $10.85 a bushel.
July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, reported a 23 percent slump in third-quarter profit, hurt by an impairment charge, mainly on properties in the weak Chicago market. D.R. Horton reported a 15 percent drop in home deliveries in both the Midwest and the Southwest in the quarter ended June 30.
The FAA's ban, imposed out of concern for the risk of planes being hit by Hamas rockets, became a hot button topic in both U.S.-Israeli diplomacy and Washington politics. Chicago- based United Airlines is set to resume service to Tel Aviv with a 4:45 p.m. eastern flight from Newark, New Jersey.